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DEPOSITS

12 Months Ended

Dec. 31, 2014

NOTE 8 - DEPOSITS

Time deposits of $250,000 or more were $52,912,913 and $50,468,672 at year-end 2014 and 2013, respectively.

At December 31, 2014, the scheduled maturities of time deposits for the next five years are as follows:

2015	$	119,427,009
2016	31,626,467
2017	12,348,228
2018	11,934,075
2019	7,292,559

Certain directors and executive officers of the Company and companies in whom they have beneficial ownership are deposit customers of the Bank. The amount of these deposits was approximately $6,652,000 and $5,878,000 at December 31, 2014 and 2013.

- 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.

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