Note 8 - Deposits

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Deposits

Note 8. Deposits

The aggregate amount of certificates of deposit, each with a minimum denomination of $250,000, was $371.7 million and $169.0 million as of December 31, 2022 and 2021, respectively.

As of December 31, 2022, the scheduled maturities of certificates of deposit were as follows:

	Amount
	(dollars in thousands)
Year ending December 31:
2023	$	710,100
2024		53,029
2025		11,274
2026		4,209
2027		5,571
Thereafter		401
	$	784,584

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

	2022		2021
	(dollars in thousands)
U.S. govt. sponsored agency securities	$	2,081	$	3,080
Residential mortgage-backed and related securities		1,796		3,270
	$	3,877	$	6,350

The Company had a $188.8 million PUD LOC with the FHLB of Des Moines for the purpose of providing additional collateral on public deposits as of December 31, 2022. As of December 31, 2021, the Company had a $129.5 million PUD LOC with the FHLB of Des Moines. There were no amounts outstanding under these letters of credit as of December 31, 2022 or 2021.