Deposits and Borrowings (Tables)

9 Months Ended

Sep. 30, 2022

Deposits and Borrowings

Schedule of deposits

The following tables show the components of the Company’s funding sources.

(Dollars in thousands)	September 30, 2022		December 31, 2021
Deposits:
Non-interest bearing demand deposits(1)	$	535,186	$	488,838
Interest-bearing demand deposits(1)		705,593		633,901
Savings deposits		102,909		101,376
Time deposits(2)		719,653		657,438
Total Deposits	$	2,063,341	$	1,881,553

Schedule of long-term debt

						September 30, 2022		December 31, 2021
(Dollars in thousands)	Stated Interest Rates		Weighted-Average Interest Rate			Carrying Value		Carrying Value
Long-term Debt:
Subordinated debt	5.25	%		5.25	%	$	24,603	$	24,728
FHLB advances(3)							—		18,000
Total Long-term Debt:						$	24,603	$	42,728

(1) Overdraft demand deposits reclassified to loans totaled $1 thousand and $2 thousand at September 30, 2022 and December 31, 2021, respectively.

(2) The aggregate amount of certificates of deposit with a minimum denomination of $250,000 was $283.3 million and $255.0 million at September 30, 2022 and December 31, 2021, respectively.

(3) The Company’s Federal Home Loan Bank (“FHLB”) advances were called by the FHLB during the second quarter of 2022.

Schedule of carrying amount of the time deposits by contractual maturity

(Dollars in thousands)	September 30, 2022
2022	$	131,774
2023		499,483
2024		82,693
2025		2,972
2026		2,346
Thereafter		385
Total	$	719,653