Note 9 - Deposits

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

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

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(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.