Note 9 - Deposits

9 Months Ended

Sep. 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	September 30, 2023		December 31, 2022
Checking	$	468,068,521	$	510,983,509
Money Market		393,462,981		348,833,623
Savings		92,286,585		108,237,098
Certificates of Deposit		232,234,937		142,031,066
Total	$	1,186,053,024	$	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  September 30, 2023 and December 31, 2022. The Company had $6.5 million and $6.0 million in brokered time deposits, which are included in certificates of deposit in the above table, at September 30, 2023 and December 31, 2022, respectively.  In addition, $103,000 and $98,000, in deposit account overdrafts were reclassified to loans at September 30, 2023 and December 31, 2022, respectively.

Certificates of deposits that met or exceeded the FDIC insurance limit of $250,000 were $55.2 million and $30.3 million at September 30, 2023 and December 31, 2022, respectively. All deposits that met or exceeded the FDIC insurance limit totaled $305.1 million and $350.1 million at September 30, 2023 and December 31, 2022, respectively.

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

	September 30, 2023		December 31, 2022
Within 1 Year	$	195,098,267	$	97,163,169
After 1 Year, Within 2 Years		30,066,067		31,550,543
After 2 Years, Within 3 Years		3,514,998		6,465,582
After 3 Years, Within 4 Years		3,450,257		3,177,916
After 4 Years, Within 5 Years		105,348		3,673,856
Total Certificates of Deposit	$	232,234,937	$	142,031,066