Interest-Bearing Deposits

12 Months Ended

Dec. 31, 2023

Interest-Bearing Deposits [Abstract]

Interest-Bearing Deposits

nterest-bearing deposits consist of the following:

	December 31,
(In thousands)	2023			2022
Interest-bearing demand deposits	$	532,507		$	567,426
Savings deposits	7,226			6,413
Time deposits:
Less than $100	5,266			2,526
$100 to less than $250	48,540			20,137
$250 or more (1)	22,916			17,958
Total	$	616,455		$	614,460
Weighted average interest rate	3.16		%	1.74		%

(1)The scheduled maturities of time deposits not covered by deposit insurance consist of $21.9 million within one year and $1.1 million within one to three years.

Interest expense consists of the following:

	December 31,
(In thousands)	2023		2022		2021
Interest-bearing demand deposits	$	14,056	$	3,118	$	582
Savings deposits	113		38		9
Time deposits:
Less than $100	1,276		145		332
$100 to less than $250	288		79		109
$250 or more	417		102		139
Total	$	16,150	$	3,482	$	1,171

The scheduled maturities of time deposits are summarized as follows:

	December 31,
	2023				2022
(In thousands)	Amount		Percent of Total		Amount		Percent of Total
Due within:
One year	$	72,616	94.6	%	$	37,925	93.3	%
Two years	2,941		3.8	%	1,773		4.4	%
Three years	1,098		1.4	%	797		2.0	%
Four years	39		0.1	%	88		0.2	%
Five years	28		0.1	%	38		0.1	%
Total	$	76,722	100.0	%	$	40,621	100.0	%