Note 9 - Deposits

6 Months Ended

Jun. 30, 2023

Notes to Financial Statements

Deposit Liabilities Disclosures [Text Block]

NOTE 9 - DEPOSITS

Deposits outstanding at the dates indicated are summarized below by account type as follows:

Deposit Account Type	June 30, 2023		December 31, 2022
Checking	$	477,850,717	$	510,983,509
Money Market		375,053,531		348,833,623
Savings		97,460,230		108,237,098
Certificates of Deposit		229,108,593		142,031,066
Total	$	1,179,473,071	$	1,110,085,296

The Company had $5.0 million in brokered deposits, which are included in checking and money market deposits in the above table, at both  June 30, 2023 and December 31, 2022. The Company had $12.5 million and $6.0 million in brokered time deposits, which are included in certificates of deposit in the above table, at June 30, 2023 and December 31, 2022, respectively.  In addition, $81,000 and $98,000, in overdrafts were reclassified to loans at June 30, 2023 and December 31, 2022, respectively.

Certificates of deposits that met or exceeded the FDIC insurance limit of $250,000 were $56.2 million and $30.3 million at June 30, 2023 and December 31, 2022, respectively. All deposits that met or exceeded the FDIC insurance limit totaled $326.6 million and $350.1 million at June 30, 2023 and December 31, 2022, respectively.

The amounts and scheduled maturities of certificates of deposit at the dates indicated were as follows:

	June 30, 2023		December 31, 2022
Within 1 Year	$	179,484,148	$	97,163,169
After 1 Year, Within 2 Years		43,167,443		31,550,543
After 2 Years, Within 3 Years		2,550,664		6,465,582
After 3 Years, Within 4 Years		3,906,338		3,177,916
After 4 Years, Within 5 Years		—		3,673,856
Total Certificates of Deposit	$	229,108,593	$	142,031,066