Note 8 - Deposits

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Deposits

Note 8. Deposits

The aggregate amount of certificates of deposit, each with a minimum denomination of $250,000, was $169.1 million and $293.4 million as of December 31, 2020 and 2019, respectively.

As of December 31, 2020, the scheduled maturities of certificates of deposit were as follows:

	Amount
Year ending December 31:	(dollars in thousands)
2021	$	228,257
2022		61,450
2023		13,648
2024		12,684
2025		7,795
Thereafter		136,825
	$	460,659

The Company has public entity interest-bearing demand deposits and certificates of deposit that are collateralized by investment securities with carrying values as follows:

	2020		2019
	(dollars in thousands)
U.S. govt. sponsored agency securities	$	3,668	$	6,135
Residential mortgage-backed and related securities		4,772		3,782
	$	8,440	$	9,917

The Company had a $110.5 million PUD LOC with the FHLB of Des Moines for the purpose of providing additional collateral on public deposits as of December 31, 2020. As of December 31, 2019, the Company had a $47.4 million PUD LOC with the FHLB of Des Moines. There were no amounts outstanding under these letters of credit as of December 31, 2020 or 2019.

The Company prepaid brokered and public time deposits totaling $29.2 million in 2020 resulting in a loss of $576 thousand.  There were no prepayments of brokered certificates of deposits in 2019.