Deposits

3 Months Ended

Mar. 31, 2013

Deposits [Abstract]

DEPOSITS

NOTE 6 - DEPOSITS

The composition of the Bank’s deposits at March 31, 2013 and December 31, 2012 follows:

	(Expressed in Thousands)
	March 31, 2013
	Demand
	Noninterest		Interest
	Bearing		Bearing		Savings		Time
Individuals, partnerships and corporations (includes certified and official checks)	$	32,515	$	43,358	$	94,305	$	65,983
States and political subdivisions		519		6,563		3,732		2,933
Commercial banks and other depository institutions		159		—		105		730
Total	$	33,193	$	49,921	$	98,142	$	69,646

	(Expressed in Thousands)
	December 31, 2012
	Demand
	Noninterest		Interest
	Bearing		Bearing		Savings		Time
Individuals, partnerships and corporations (includes certified and official checks)	$	32,614	$	42,866	$	90,252	$	67,254
States and political subdivisions		646		5,558		3,546		2,969
Commercial banks and other depository institutions		162		—		105		490
Total	$	33,422	$	48,424	$	93,903	$	70,713

A maturity distribution of time certificates of deposit at March 31, 2013 and December 31, 2012, follows:

(dollars in thousands)	Maturities of Time Deposits
	March 31, 2013		December 31, 2012
Due in 2013	$	26,067	$	37,271
Due in 2014		20,891		13,279
Due in 2015		8,792		8,040
Due in 2016		6,625		6,262
Due in 2017		5,777		5,660
Due in 2018 and thereafter		1,494		201
Total	$	69,646	$	70,713

Time deposits include certificates of deposit issued in denominations of $100,000 or more which amounted to $22,615,000 and $22,720,000 at March 31, 2013 and December 31, 2012, respectively. Interest expense on certificates of deposit of $100,000 or more was $88,723 and $113,000 for the three months ended March 31, 2013 and 2012, respectively.

The following table presents other time deposits of $100,000 or more issued by domestic offices by time remaining until maturity of 3 months or less; over 3 through 6 months; over 6 through 12 months; and over 12 months.

	Maturities of Time Deposits in Excess of $100,000
(dollars in thousands)	March 31, 2013		December 31, 2012
Three Months or Less	$	4,899	$	5,008
Over Three and Less than Six Months		1,248		3,356
Over Six and Less than Twelve Months		6,381		3,039
Over Twelve Months		10,087		11,317
Total	$	22,615	$	22,720