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Deposits

9 Months Ended

Sep. 30, 2011

Note 4: Deposits

The following table is a summary of the Company’s deposits at:


	September 30,		December 31,
	2011		2010

Non-interest bearing	$	56,699,418	$	51,058,373


Interest bearing
NOW		25,325,126		19,297,225
Savings		53,634,681		57,041,943
Money market		58,724,455		92,683,478
Time certificates, less than $100,000		185,394,428		251,296,558
Time certificates, $100,000 or more		127,944,921		175,431,252

Total interest bearing		451,023,611		595,750,456

Total Deposits	$	507,723,029	$	646,808,829

Included in time certificates are certificates of deposit through the Certificate of Deposit Account Registry Service (CDARS) network of $1,362,540 and $2,879,838 at September 30, 2011 and December 31, 2010, respectively. These are considered brokered deposits. Pursuant to the Agreement discussed in Note 8, the Bank’s participation in the CDARS program, as an issuer of deposits to customers of other banks in the CDARS program, may not exceed 10% of total deposits.

- 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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