Note 8 - Deposits

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Deposit Liabilities Disclosures [Text Block]

NOTE

8

- DEPOSITS

Time deposits at

December 31, 2019

and

2018

 include individual deposits greater than

$25

0,000

of

$15,568,000

an

d

$9,552,000,

respectively. Interest expense on time deposits greater than

$250,000

amoun

ted to

$239,000

for

2019

,

$12

0,000

for

2018

, and

$111,000

for

2017

.

At

December 31, 2019

,

time deposits amounted

to

$197,391,000

and

were scheduled to mature as follows:

2020,

$135,003,000;

2021,

$44,992,000;

2022,

$15,242,000;

2023,

$1,202,000;

2024,

$795,000;

and thereafter,

$157,000.

Certain directors and executive officers, including their immediate families and companies in which they are principal owners, are depositors of the Corporation. Such deposits amoun

ted to

$5,536,000

an

d

$5,457,000

at

December 31, 2019

and

2018

, respectively.