NOTE 6 - DEPOSITS

The composition of the Bank’s deposits at March 31, 2014 and December 31, 2013 follows (in thousands):


	March 31, 2014
	Demand
	Noninterest Bearing		Interest Bearing		Savings		Time
Individuals, partnerships and corporations (includes certified and official checks)	$	48,769	$	46,547	$	107,097	$	62,356
States and political subdivisions		520		7,067		4,052		2,490
Commercial banks and other depository institutions		144		—		31		481

Total	$	49,433	$	53,614	$	111,180	$	65,327


	December 31, 2013
	Demand
	Noninterest Bearing		Interest Bearing		Savings		Time
Individuals, partnerships and corporations (includes certified and official checks)	$	55,234	$	49,356	$	104,077	$	64,128
States and political subdivisions		601		5,456		3,963		2,478
Commercial banks and other depository institutions		72		—		31		481

Total	$	55,907	$	54,812	$	108,071	$	67,087

A maturity distribution of time certificates of deposit at March 31, 2014 and December 31, 2013, follows:


(dollars in thousands)	Maturities of Time Deposits
	March 31, 2014		December 31, 2013
Due in 2014	$	25,775	$	37,018
Due in 2015		19,308		12,928
Due in 2016		9,195		7,856
Due in 2017		5,797		5,590
Due in 2018		4,294		3,579
Due in 2019 and thereafter		958		116

Total	$	65,327	$	67,087

Time deposits include certificates of deposit issued in denominations of $100,000 or more which amounted to $21,529,000 and $22,249,000 at March 31, 2014 and December 31, 2013, respectively. Interest expense on certificates of deposit of $100,000 or more was $71,241 and $88,723 for the three months ended March 31, 2014 and 2013, respectively.

The following table presents 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, 2014		December 31, 2013
Three Months or Less	$	3,890	$	5,700
Over Three and Less than Six Months		2,279		3,040
Over Six and Less than Twelve Months		6,368		4,011
Over Twelve Months		8,992		9,498

Total	$	21,529	$	22,249