Note 8 - Deposits

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Deposits

Note 8. Deposits

The aggregate amount of certificates of deposit, each with a minimum denomination of $250,000, was $169.0 million and $175.6 million as of December 31, 2021 and 2020, respectively.

As of December 31, 2021, the scheduled maturities of certificates of deposit were as follows:

	Amount
	(dollars in thousands)
Year ending December 31:
2022	$	334,214
2023		57,712
2024		16,747
2025		9,802
2026		2,873
Thereafter		—
	$	421,348

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

	2021		2020
	(dollars in thousands)
U.S. govt. sponsored agency securities	$	3,080	$	3,668
Residential mortgage-backed and related securities		3,270		4,772
	$	6,350	$	8,440

The Company had a $129.5 million PUD LOC with the FHLB of Des Moines for the purpose of providing additional collateral on public deposits as of December 31, 2021. As of December 31, 2020, the Company had a $110.5 million PUD LOC with the FHLB of Des Moines. There were no amounts outstanding under these letters of credit as of December 31, 2021 or 2020.

There were no prepayments of brokered certificates of deposits in 2021. The Company prepaid brokered and public time deposits totaling $29.2 million in 2020 resulting in a loss of $576 thousand.