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Deposits | 12 Months Ended
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Dec. 31, 2013
Banking And Thrift [Abstract] |
Deposits | Note 7. Deposits At December 31, 2013 and 2012, deposits consisted of the following:
|  | Weighted Average Interest Rate |  |  | 2013 |  |  | Weighted Average Interest Rate |  |  | 2012 |
Non-interest bearing |  |  | — |  |  | $ | 55,358,161 |  |  |  | — |  |  | $ | 65,176,125 |
Interest bearing: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Time certificates, less than $100,000 |  |  | 1.05 | % |  |  | 129,548,033 |  |  |  | 1.37 | % |  |  | 160,610,601 |
Time certificates, $100,000 or more |  |  | 1.09 | % |  |  | 106,387,098 |  |  |  | 1.50 | % |  |  | 121,142,374 |
Money market |  |  | 0.04 | % |  |  | 29,309,657 |  |  |  | 0.20 | % |  |  | 42,401,428 |
Savings |  |  | 0.30 | % |  |  | 80,982,920 |  |  |  | 0.51 | % |  |  | 77,760,967 |
NOW |  |  | 0.01 | % |  |  | 28,618,213 |  |  |  | 0.07 | % |  |  | 30,191,403 |
Total interest bearing |  |  |  |  |  |  | 374,845,921 |  |  |  |  |  |  |  | 432,106,773 |
Total deposits |  |  |  |  |  | $ | 430,204,082 |  |  |  |  |  |  | $ | 497,282,898 |
At December 31, 2013 and 2012, we did not have any certificates of deposit through the Certificate of Deposit Account Registry Service (CDARS) network included in time certificates. Included in total deposits above, approximately $24.7 million is related to deposits held for sale at December 31, 2012. There were no deposits held for sale at December 31, 2013. Interest expense on deposits consists of the following:
|  | Year Ended December 31, |
|  | 2013 |  |  | 2012 |  |  | 2011 |
Time certificates, less than $100,000 |  | $ | 1,821,591 |  |  | $ | 2,706,666 |  |  | $ | 3,380,456 |
Time certificates, $100,000 or more |  |  | 1,600,519 |  |  |  | 2,225,726 |  |  |  | 2,567,071 |
Money market |  |  | 40,481 |  |  |  | 71,808 |  |  |  | 88,813 |
Savings |  |  | 349,998 |  |  |  | 330,842 |  |  |  | 235,628 |
NOW |  |  | 8,718 |  |  |  | 16,435 |  |  |  | 11,610 |
|  | $ | 3,821,307 |  |  | $ | 5,351,477 |  |  | $ | 6,283,578 |
Contractual maturities of time certificates of deposit as of December 31, 2013 are summarized below:
|  | Weighted Average Interest Rate |  |  | Balance of Time Certificates of Deposit |
Due within: |  |  |  |  |  |  |  |
1 year |  |  | 0.96 | % |  | $ | 200,555,373 |
1-2 years |  |  | 1.99 | % |  |  | 16,514,915 |
2-3 years |  |  | 1.59 | % |  |  | 5,661,154 |
3-4 years |  |  | 1.58 | % |  |  | 8,018,162 |
4-5 years |  |  | 0.85 | % |  |  | 5,185,527 |
|  |  | 1.07 | % |  | $ | 235,935,131

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- Definition 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 FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 405 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6479006&loc=d3e64164-112818 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.12) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details
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