8. DEPOSITS

Deposits are the Bank's primary source of funds for making loans and purchasing investments. The Bank offers a variety of deposit account products to commercial and consumer customers. The total deposits that were re-classified to loans due to overdrafts were $19 thousand and $46 thousand at December 31, 2015 and 2014, respectively.

The following shows the maturity schedule of all time deposits:

(Dollars in thousands)	Amount
2016	$	119,454
2017		5,235
2018		8,183
2019		193
2020		320
Total	$	133,385

Principal maturities of time deposits of $250,000 or more as of December 31, 2015 and 2014 were as follows:

	December 31, 2015					December 31, 2014
(Dollars in thousands)	Amount		Average Rate			Amount		Average Rate
Three months or less	$	3,259		0.38	%	$	5,132		0.35	%
Over three months to six months		513		0.10			1,238		0.31
Over six months to twelve months		5,229		0.38			6,382		0.55
Over one year to five years		8,718		0.96			1,509		0.69
Total	$	17,719		0.66	%	$	14,261		0.47	%

For the years ended December 31, 2015 and 2014, the Bank had $83 thousand and $65 thousand, respectively, in interest expense for time deposits greater than $250,000.

In the normal course of business, certain directors and executives of the Company and the Bank, including their immediate families and companies in which they have an interest, are deposit customers. These relationships had aggregate deposits of $1.1 million and $1.2 million as of December 31, 2015 and 2014, respectively.

The Bank had three deposit relationships for the year ended December 31, 2015 and 2014 with balances in excess of five percent of total deposits totaling $55.0 million.