Note 9 - Deposits

12 Months Ended

Dec. 31, 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:

	December 31,
Deposit Type (Dollars in thousands)		2023		2022
Checking	$	473,936	$	510,984
Money Market		401,992		348,833
Savings		88,319		108,237
Certificates of Deposit		230,750		142,031
Total Deposits	$	1,194,997	$	1,110,085

The Bank had $5.0 million in brokered deposits which are included in checking and money market deposits above at December 31, 2023 and 2022. In addition, the Bank had $6.5 million and $6.0 million in brokered time deposits at December 31, 2023 and 2022, with a weighted average interest rate of 4.54% and 0.30%, respectively. Brokered time deposits are included in certificates of deposit above and below. At December 31, 2023 and 2022, the Bank had $57,000 and $98,000, respectively, in overdrafts that were reclassified to loans.

Total uninsured deposits (those that met or exceeded the FDIC insurance limit of $250,000) totaled $327.7 million and $350.1 million at December 31, 2023 and 2022, respectively. The uninsured amounts are estimates based on the methodologies and assumptions used for the Bank's regulatory reporting requirements. Certificate of deposits that exceeded the FDIC insurance limit of $250,000 totaled $50.2 million and $30.3 million at December 31, 2023 and 2022, respectively.  

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

	December 31,
(Dollars in thousands)	2023		2022
Within 1 Year	$	198,325	$	97,163
After 1 Year, Within 2 Years		16,568		31,551
After 2 Years, Within 3 Years		9,487		6,465
After 3 Years, Within 4 Years		2,636		3,178
After 4 Years, Within 5 Years		3,734		3,674
Total Certificates of Deposits	$	230,750	$	142,031