Deposits

12 Months Ended

Dec. 31, 2022

Note 10 – Deposits

Deposits are summarized as follows:

	December 31, 2022		December 31, 2021
	(In thousands)
Interest checking and other demand deposits	$	5,764	$	90,285
Non‑interest-bearing demand deposits		328,577		220,152
Money market deposits		155,200		204,888
Savings deposits		62,322		70,750
Certificates of deposit		135,053		201,977
Total	$	686,916	$	788,052

The Bank accepts two types of deposits from a deposit placement service called the Certificate of Deposit Account Registry Service. Reciprocal deposits are the Bank’s own retail deposits in amounts in excess of the insured limits. The CDARS program allows banks to place their customers’ funds in FDIC‑insured certificates of deposit at other banks and, at the same time, receive an equal sum of funds from the customers of other banks in the CDARS Network. These deposits totaled $74.6 million and $141.6 million at December 31, 2022 and 2021, respectively and are not considered to be brokered deposits.

One‑way deposits are also available using the CDARS program. With the one‑way program, the Bank accepts deposits from CDARS even though there is no customer account involved. These one-way deposits, which are considered to brokered deposits, totaled $0 and $223 thousand at December 31, 2022 and 2021, respectively.

At December 31, 2022 and 2021, the Bank had $4.3 million and $5.0 million in (non-CDARS) brokered deposits, respectively.

As of December 31, 2022 and 2021, approximately $212.9 million and $265.8 million of our total deposits were not insured by FDIC insurance.

Scheduled maturities of certificates of deposit for the next five years are as follows:

Maturity	Amount
	(In thousands)
2023	$	118,070
2024		10,767
2025		729
2026		5,312
2027		167
Thereafter		8
	$	135,053

Certificates of deposit of $250 thousand or more totaled $30.2 million and $20.4 million at December 31, 2022 and 2021, respectively.

The Company has a significant concentration of deposits with five long‑time customers that accounted for approximately 27% of its deposits as of December 31, 2022. The Company expects to maintain the relationships with the customers for the near term.

Deposits from principal officers, directors, and their affiliates totaled $24.3 million and $22.7 million at December 31, 2022 and 2021, respectively.