Note 5 - Deposits |
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Sep. 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||
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| Deposit Liabilities Disclosures [Text Block] |
Note 5: Deposits
As of September 30, 2023, for years ended September 30, the scheduled maturities of time deposits are as follows:
In the normal course of business, deposit accounts are held by directors and executive officers of the Company and the Bank (related parties). The terms for these accounts, including interest rates, fees, and other attributes, are similar to those prevailing for comparable transactions with other customers and do not involve more than the normal level of risk associated with deposit accounts. At September 30, 2023 and December 31, 2022, total deposits held by directors and officers of the Company and the Bank were $770,000 and $724,000, respectively.
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- 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. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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