DEPOSITS

12 Months Ended

Dec. 31, 2011

Deposit Liabilities Disclosures [Text Block]

9.	DEPOSITS

Deposit accounts are summarized as follows as of December 31:

	December 31,
	2011					2010
	Amount		%			Amount		%

Non-interest-bearing demand	$	6,644,398		3.27	%	$	8,806,067		3.68	%
NOW accounts		15,721,299		7.75			14,767,387		6.16
Money market deposit		43,655,929		21.50			56,768,776		23.70
Savings		30,235,259		14.89			29,523,229		12.32
		96,256,885		47.41			109,865,459		45.86

Time deposits:
0.01 - 0.99%		26,804,241		13.20			15,470,915		6.45
1.00 - 1.99%		55,032,658		27.11			71,933,905		30.00
2.00 - 3.99%		17,524,066		8.63			21,859,336		9.12
4.00 - 5.99%		7,398,436		3.65			20,576,197		8.57
		106,759,401		52.59			129,840,353		54.14

Total	$	203,016,286		100.00	%	$	239,705,812		100.00	%

The scheduled maturities of time deposits are as follows:

	December
	2011

One year or less	$	57,439,933
More than one year to two years		19,772,949
More than two years to three years		6,446,045
More than three years to four years		4,463,097
More than four years		18,637,377
Total	$	106,759,401

Time deposits include those in denominations of $100,000 or more. Such deposits aggregated $37,596,248 and $40,387,644 at December 31, 2011 and 2010, respectively.

The scheduled maturities of time deposits in denominations of $100,000 or more at December 31, 2011, are as follows:

	December
	2011

Within three months	$	4,069,315
Three through six months		11,190,312
Six through twelve months		7,223,929
Over twelve months		15,112,692

Total	$	37,596,248

Interest expense by deposit category is as follows:

	Year Ended December 31,
	2011		2010

NOW accounts	$	82,339	$	73,902
Money market deposit		325,900		353,057
Savings		127,469		148,812
Time deposits		2,016,557		2,257,434

Total	$	2,552,265	$	2,833,205

- 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.

+ References+ Details

Polonia Bancorp 10-K