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Deposits

12 Months Ended

Dec. 31, 2021

Note 8. Deposits

The aggregate amount of time deposits in denominations of $250,000 or more was $160.0 million and $138.1 million at December 31, 2021 and 2020, respectively. At December 31, 2021, the scheduled maturities of time deposits are as follows (in thousands):


2022	$	409,656
2023		104,666
2024		32,988
2025		16,040
2026		10,592
Thereafter		—
Total	$	573,942

As of December 31, 2021, and 2020, there was a fair value adjustment of $707 thousand and $336 thousand, respectively, to time deposits as a result of business combinations.

From time to time, the Company engages in deposit transactions with its directors, executive officers and their related interests (collectively referred to as "related parties"). Such deposits are made in the ordinary course of business and on substantially the same terms as those for comparable transactions prevailing at the time and do not present other unfavorable features. The total amount of related party deposits was $25.4 million and $21.6 million at December 31, 2021 and 2020, respectively.