Deposits

12 Months Ended

Dec. 31, 2021

Deposits

Deposits

Note 7. Deposits

The following table summarizes the major classifications of deposit balances as of the dates indicated:

	December 31,
	2021		2020
(dollars in thousands)
Noninterest-bearing deposits	$	155,624	$	132,626
Interest-bearing deposits:
Interest-bearing checking		37,305		32,601
Money Market		23,103		19,077
Savings		106,818		97,036
Time deposits, $100,000 or more		24,624		28,270
Time deposits below $100,000		35,773		40,010
Total interest- bearing deposits		227,623		216,994
Total Deposits	$	383,247	$	349,620

Interest expense on deposits for the years ended December 31, 2021 and 2020 is as follows:

	2021		2020
(dollars in thousands)
Interest-bearing checking	$	11	$	9
Money Market		11		9
Savings		51		60
Time deposits, $100,000 or more		248		440
Time deposits below $100,000		288		525
Total Interest Expense	$	609	$	1,043

The Bank recognized $0.2 million of fee income from deposits for the years ended December 31, 2021 and 2020.

At December 31, 2021, the scheduled maturities of time deposits are approximately as follows:

(dollars in thousands)	Amount
Maturing in:
2022	$	32,541
2023		9,886
2024		8,802
2025		3,916
2026		4,323
2027 and thereafter		929
Total Time Deposits	$	60,397

Deposit balances of executive officers and directors and their affiliated interests totaled approximately $2.2 million and $2.8 million at December 31, 2021 and 2020, respectively.

The Bank had no brokered deposits at December 31, 2021 and 2020.