Note 7 - Deposits

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Deposit Liabilities Disclosures [Text Block]

Note 7. Deposits

The following table presents the balance of deposits held, by category as of September 30, 2022 and December 31, 2021.

(In thousands)	September 30, 2022		December 31, 2021
Non-interest bearing	$	247,704	$	226,713
Interest bearing:
Negotiable order of withdrawal accounts		38,435		34,741
Savings		87,443		109,744
Money market		180,772		164,518
Certificates of deposit, less than $250,000		180,253		142,246
Certificates of deposit, $250,000 or greater		65,362		53,584
Brokered deposits		34,426		17,016
Interest bearing, Total		586,691		521,849
Total Deposits	$	834,395	$	748,562

On July 22, 2020, the Company completed the purchase of prepaid debit card deposits of $50.0 million from a prominent national provider and processor of prepaid debit cards for corporate, consumer and government clients. The prepaid debit card deposits are included in the non-interest-bearing deposits and money market deposits, which totaled approximately $169.1 million and $150.4 million as of September 30, 2022 and December 31, 2021, respectively.

As of September 30, 2022, contractual maturities of Certificates of Deposit (“CDs”), and brokered deposits is summarized as follows:

(In thousands)	CDs less than $250,000		CDs $250,000 or greater		Brokered Deposits		Total
1 year or less	$	113,433	$	51,210	$	29,069	$	193,712
More than 1 year through 2 years		28,270		3,255		4,858		36,383
More than 2 years through 3 years		20,257		10,647		499		31,403
More than 3 years through 4 years		2,489		250		-		2,739
More than 4 years through 5 years		15,804		-		-		15,804
	$	180,253	$	65,362	$	34,426	$	280,041