Note 13: Disclosures About Fair Value of Financial Instruments: Fair Value Deposits and Accrued Interest Payable Policy (Policies)

3 Months Ended

Mar. 31, 2015

Policies

Fair Value Deposits and Accrued Interest Payable Policy

Deposits and Accrued Interest Payable.  The fair value of demand deposits and savings accounts is the amount payable on demand at the reporting date, i.e., their carrying amounts.  The fair value of fixed maturity certificates of deposit is estimated using a discounted cash flow calculation that applies the rates currently offered for deposits of similar remaining maturities.  The carrying amount of accrued interest payable approximates its fair value.