DEPOSITS

12 Months Ended

Dec. 31, 2012

Deposits:

DEPOSITS

5. DEPOSITS

At December 31, 2012, 2011, and 2010 certificates of deposit of $100,000 or more totaled approximately $40,903,886, $38,638,528, and $45,523,280 respectively. Interest expense on these deposits was $200,415 in 2012, $377,839 in 2011, and $540,048 in 2010.

At December 31, 2012, the schedule maturities of certificates of deposit are as follows:

2013	$	54,124,046
2014		2,051,136
2015		110,396
2016		64,149
2017 and thereafter		463,323
	$	56,813,050

At December 31, 2012, deposits with a deficit balance of $541,015 were re-classified as other loans, compared to $55,374 at December 31, 2011.