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DEPOSITS

12 Months Ended

Dec. 31, 2013

Deposit Liabilities Disclosures [Text Block]

NOTE F - DEPOSITS

At December 31, 2013 the Company had $448.4 million in total deposits which was comprised of $85.3 million in non-interest bearing deposits and $363.1 million in interest bearing deposits. Of the $363.1 million in interest bearing deposits, $16.6 million were in savings accounts, $124.6 million were in money market and NOW accounts, and $221.9 million were in time deposits.

The scheduled maturities of time deposits at December 31, 2013 are as follows:

	Total Time Deposits
	(dollars in thousands)

Three months or less	$	18,190
Over three months through twelve months		64,867
Over one year through two years		52,913
Over two years through three years		40,530
Over three years through four years		41,124
Over four years through five years		4,255
Over five years		-
	$	221,879

Time deposits with balances of $100,000 or more at December 31, 2013 were $112.6 million.

- 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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