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Note 7 - Deposits
 12 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
Deposit Liabilities Disclosures [Text Block]
NOTE
7
:     DEPOSITS
 
Deposits are comprised of the following at
December 31, 2017
and
2016:
 
 
 
 
 
 
  
December 31, 2017
    
December 31, 2016
  
 
 
 
  
Weighted
Average
Rate
   
Balance
   
Percentage
of Deposits
   
Weighted
Average
Rate
   
Balance
   
Percentage
of Deposits
 
                                                     
Demand
   
0.00
 %   $
94,727,683
      
15.6
 %    
0.01
 %   $
80,910,910
      
16.0
 %
NOW
   
0.35
 %    
139,458,528
      
23.0
 %    
0.30
 %    
129,137,807
      
25.6
 %
Money market
   
0.73
 %    
187,064,098
      
30.8
 %    
0.45
 %    
155,529,796
      
30.8
 %
Savings
   
0.20
 %    
30,848,154
      
5.5
 %    
0.20
 %    
28,095,248
      
5.5
 %
 
 
 
    
0.42
 %    
452,098,463
      
74.4
 %    
0.29
 %    
393,673,761
      
77.9
 %
Certificates:
   
 
      
 
      
 
      
 
      
 
      
 
  
0.00%
-
0.99%
    
0.69
 %    
46,771,850
      
7.7
 %    
0.54
 %    
57,349,324
      
11.3
 %
1.00%
-
1.99%
    
1.39
 %    
104,284,007
      
17.3
 %    
1.28
 %    
54,319,296
      
10.8
 %
2.00%
-
3.99%
    
2.00
 %    
4,210,030
      
0.7
 %    
2.14
 %    
20,369
      
0.0
 %
 
 
 
    
1.20
 %    
155,265,887
      
25.6
 %    
0.90
 %    
111,688,989
      
22.1
 %
Total Deposits
   
0.62
 %   $
607,364,350
      
100.0
 %    
0.43
 %   $
505,362,750
      
100.0
 %
 
 
The aggregate amount of certificates of deposit with a minimum balance of
$100,000
was
approximately
$102,998,000
and
$63,697,000,
as of
December 31, 2017
and
2016,
respectively. The aggregate amount of certificates of deposit with a minimum balance of
$250,000
was approximately
$44,308,000
and
$11,798,000,
as of
December 31, 2017
and
2016,
respectively.
 
A summary of certificates of deposit by maturity as of
December 31,
201
7,
is as follows:
 
2018
   $
105,487,705
  
2019
    
27,783,463
  
2020
    
11,807,481
  
2021
    
6,381,977
  
2022
    
3,508,356
  
Thereafter
    
296,905
  
    $
155,265,887
  
 
A summary of interest expense on deposits is as follows:
 
   
Years ended
  
   
December 31,
  
   
2017
    
2016
    
2015
  
                         
NOW and Money Market accounts
   $
2,394,549
     $
1,235,359
     $
1,276,808
  
Savings accounts
    
58,384
      
55,094
      
49,467
  
Certificate accounts
    
1,309,629
      
1,002,872
      
1,102,928
  
Early withdrawal penalties
    
(10,997
 )    
(9,343
 )    
(5,332
 )
    $
3,751,565
     $
2,283,982
     $
2,423,871
  
 
The Bank utilizes brokered deposits as an additional funding source. The aggregate amount of brokered deposits was
approximately
$82,205,000
and
$41,456,000
as of
December 31, 2017
and
2016,
respectively.