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Deposits
12 Months Ended
Dec. 31, 2021
Deposits [Abstract]  
Deposits

(9)

Deposits

At December 31, 2021 and 2020, time deposits amounted to $626,657,000 and $417,245,000, respectively.  Interest expense on certificates of deposit amounted to $5,602,000, $8,558,000, and $9,223,000 for the years ended December 31, 2021, 2020, and 2019, respectively.  The aggregate amount of demand deposit overdrafts that were reclassified as loans were $197,000 at December 31, 2021, compared to $116,000 as of December 31, 2020.

Time deposits at December 31, 2021 mature as follows:

 

(Dollars in thousands)

 

Time Deposits

 

 

 

Less than $250,000

 

 

$250,000 or more

 

Maturing in 2022

 

$

287,387

 

 

$

89,373

 

Maturing in 2023

 

 

141,697

 

 

 

23,151

 

Maturing in 2024

 

 

29,782

 

 

 

5,215

 

Maturing in 2025

 

 

18,988

 

 

 

1,240

 

Maturing in 2026

 

 

20,834

 

 

 

2,917

 

Maturing thereafter

 

 

6,074

 

 

 

 

 

 

$

504,762

 

 

$

121,895

 

 

 

Mid Penn had no brokered certificates of deposits as of December 31, 2021 and December 31, 2020.

 

Deposits and other funds from related parties held by Mid Penn at December 31, 2021 and 2020 amounted to $75,414,000 and $60,125,000, respectively.