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Deposits

12 Months Ended

Dec. 31, 2011

Note 7 – Deposits

The composition of deposits is summarized as follows:


	December 31, 2011		Percentage of Total
Noninterest bearing demand	$	4,819,581		6.0 %
Interest checking		4,604,083		5.8
Money market		35,352,570		44.3
Savings		500,947		0.7
Certificates of deposit < $100,000		10,552,086		13.2
Certificates deposit ³ $100,000		23,948,142		30.0
Total deposits	$	79,777,409		100.0 %

Certificates of deposit with denominations of $100,000 or more totaled $23.9 million and $17.6 million at December 31, 2011 and 2010, respectively. The Company has no brokered deposits.

At December 31, 2011, the scheduled maturities of all certificates of deposit are as follows:


Maturing in:	December 31, 2011
2012	$	19,386,074
2013		13,682,762
2014		486,543
2015		185,673
2016		759,176
Total certificates of deposit	$	34,500,228

- 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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