| Deposit Liabilities Disclosures [Text Block] |
NOTE 9 – DEPOSITS
Deposits are summarized as follows at the dates indicated:
| |
|
December 31, |
|
| |
|
2023 |
|
|
2022 |
|
| Noninterest-bearing checking |
|
$ |
654,048 |
|
|
$ |
537,938 |
|
| Interest-bearing checking (1) |
|
|
244,028 |
|
|
|
135,127 |
|
| Savings |
|
|
151,630 |
|
|
|
134,358 |
|
| Money market (2) |
|
|
359,063 |
|
|
|
574,290 |
|
| Certificates of deposit less than $100,000 (3) |
|
|
587,858 |
|
|
|
440,785 |
|
| Certificates of deposit of $100,000 through $250,000 |
|
|
429,373 |
|
|
|
195,447 |
|
| Certificates of deposit of $250,000 and over |
|
|
79,540 |
|
|
|
93,560 |
|
| Escrow accounts related to mortgages serviced (4) |
|
|
16,783 |
|
|
|
16,236 |
|
| Total |
|
$ |
2,522,323 |
|
|
$ |
2,127,741 |
|
_____________________________
| (1) |
Includes $70.2 million and $2.3 million of brokered deposits at December 31, 2023 and 2022, respectively. |
| (2) |
Includes $1,000 and $59.7 million of brokered deposits at December 31, 2023 and 2022, respectively. |
| (3) |
Includes $361.3 million and $332.0 million of brokered certificates of deposit at December 31, 2023 and 2022, respectively. |
| (4) |
Noninterest-bearing accounts. |
Scheduled maturities of time deposits at December 31, 2023 for future years ending are as follows:
| |
|
December 31, 2023 |
|
| Maturing in 2024 |
|
$ |
863,350 |
|
| Maturing in 2025 |
|
|
166,827 |
|
| Maturing in 2026 |
|
|
44,288 |
|
| Maturing in 2027 |
|
|
21,727 |
|
| Maturing in 2028 and thereafter |
|
|
579 |
|
| Total |
|
$ |
1,096,771 |
|
Interest expense by deposit category for the years indicated is as follows:
| |
|
Year Ended |
|
| |
|
December 31, |
|
| |
|
2023 |
|
|
2022 |
|
|
2021 |
|
| Interest-bearing checking |
|
$ |
2,586 |
|
|
$ |
495 |
|
|
$ |
282 |
|
| Savings and money market |
|
|
5,511 |
|
|
|
3,775 |
|
|
|
1,604 |
|
| Certificates of deposit |
|
|
28,654 |
|
|
|
5,150 |
|
|
|
5,043 |
|
| Total |
|
$ |
36,751 |
|
|
$ |
9,420 |
|
|
$ |
6,929 |
|
The Company had related party deposits of approximately $2.8 million and $5.7 million at December 31, 2023 and 2022, respectively, which included deposits held for directors and executive officers.
|