Note 6 - Deposits

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Deposit Liabilities Disclosures [Text Block]

NOTE 6 – DEPOSITS

Deposits at year end are summarized as follows:

											Percent
(Dollars in thousands)	December 31, 2023					December 31, 2022					Increase
	Balance		%			Balance		%			(Decrease)
Noninterest-bearing checking	$	1,247,640		32.1	%	$	1,604,750		43.3	%		(22.3	)%
Interest-bearing checking		635,790		16.3			575,028		15.5			10.6
Money market		957,434		24.5			776,723		20.9			23.3
Savings		262,566		6.7			381,602		10.3			(31.2	)
Time, under $100,000		175,741		4.5			113,099		3.0			55.4
Time, $100,000 and over		453,366		11.6			261,609		7.0			73.3
Total local deposits		3,732,537		95.7			3,712,811		100.0			0.5
Out-of-area time, $100,000 and over		168,381		4.3			0		0			0
Total deposits	$	3,900,918		100.0	%	$	3,712,811		100.0	%		5.1	%

Out-of-area time deposits consist of deposits obtained from depositors outside of our primary market areas exclusively through deposit brokers.

The following table depicts the maturity distribution for time deposits at year end:

(Dollars in thousands)	2023		2022
In one year or less	$	657,307	$	188,887
In one to two years		61,454		68,434
In two to three years		22,830		22,053
In three to four years		54,486		30,761
In four to five years		1,411		64,573
Total certificates of deposit	$	797,488	$	374,708

NOTE 6 – DEPOSITS (Continued)

The following table depicts the maturity distribution for time deposits with balances of $100,000 or more at year end:

(Dollars in thousands)	2023		2022
Up to three months	$	167,535	$	40,538
Three months to six months		127,344		25,141
Six months to twelve months		210,915		54,394
Over twelve months		115,953		141,536
Total certificates of deposit	$	621,747	$	261,609

Total time deposits of more than $250,000 totaled $477 million and $187 million at year-end 2023 and 2022, respectively.

Deposit overdrafts, which are reported as loans on the Consolidated Balance Sheets, totaled $0.3 million and $0.9 million as of December 31, 2023 and December 31, 2022, respectively.