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Deposits

3 Months Ended

Mar. 31, 2012

Deposits [Abstract]

Deposits

Note 4: Deposits

The following table is a summary of the Company’s deposits at:

		March 31, 2012				December 31, 2011
Non-interest bearing		$	59,049,656			$	65,613,374
Interest bearing
NOW			28,823,777				24,396,210
Savings			61,518,552				59,396,310
Money market			48,557,712				52,889,642
Time certificates, less than $100,000			196,536,154				198,207,998
Time certificates, $100,000 or more			145,104,469				144,405,859
Total interest bearing			480,540,664				479,296,019
Total Deposits		$	539,590,320			$	544,909,393

Included in time certificates are certificates of deposit through the Certificate of Deposit Account Registry Service (CDARS) network of $0 and $1,361,544 at March 31, 2012 and December 31, 2011, respectively. These are considered brokered deposits. Pursuant to the Agreement discussed in Note 10, the Bank’s participation in the CDARS program, as an issuer of deposits to customers of other banks in the CDARS program, may not exceed 10% of total deposits.

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The entire disclosure for deposit liabilities including data and tables. It may include a description of the entity's deposit liabilities, the aggregate amount of time deposits (including certificates of deposit) in denominations of $100,000 or more at the balance sheet date; the aggregate amount of any demand deposits that have been reclassified as loan balances, such as overdrafts, at the balance sheet date; deposits that are received on terms other than those in the normal course of business, the amount of accrued interest on deposit liabilities; securities, mortgage loans or other financial instruments that serve as collateral for deposits; for time deposits having a remaining term of more than one year, the aggregate amount of maturities for each of the five years following the balance sheet date; and the weighted average interest rate for all deposit liabilities held by the entity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Statement of Position (SOP)

-Number 01-6

-Paragraph 14

-Subparagraph e

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

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-Section S99

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 405

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