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DEPOSITS | 12 Months Ended
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Dec. 31, 2023
Deposits [Abstract] |
DEPOSITS | Note 10 DEPOSITS The composition of the Company’s interest bearing deposits at December 31 was as follows: (Dollars in Thousands) 2023 2022 NOW Accounts $ 1,327,420 $ 1,290,494 Money Market Accounts 319,319 267,383 Savings Deposits 547,634 637,374 Time Deposits 129,515 90,446 Total Interest Bearing Deposits $ 2,323,888 $ 2,285,697 At December 31, 2023 and 2022, $ 1.0 million and $ 1.1 million in overdrawn deposit accounts were reclassified as loans, respectively. The amount of time deposits that meet or exceed the FDIC insurance limit of $250,000 totaled $ 14.7 million and $ 11.1 million at December 31, 2023 and 2022, respectively. At December 31, the scheduled maturities of time deposits were as follows: (Dollars in Thousands) 2023 2024 $ 112,448 2025 7,349 2026 3,554 2027 4,211 2028 1,953 Total $ 129,515 Interest expense on deposits for the three years ended December 31, was as follows: (Dollars in Thousands) 2023 2022 2021 NOW Accounts $ 12,375 $ 2,800 $ 294 Money Market Accounts 3,670 203 134 Savings Deposits 598 309 263 Time Deposits < $250,000 117 129 145 Time Deposits > $250,000 822 3 3 Total Interest Expense $ 17,582 $ 3,444 $ 839

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- Definition The entire disclosure for deposit liabilities including data and tables. It may include a description of the entity's deposit liabilities, the aggregate amount of time deposits (including certificates of deposit) in denominations of $100,000 or more at the balance sheet date; the aggregate amount of any demand deposits that have been reclassified as loan balances, such as overdrafts, at the balance sheet date; deposits that are received on terms other than those in the normal course of business, the amount of accrued interest on deposit liabilities; securities, mortgage loans or other financial instruments that serve as collateral for deposits; for time deposits having a remaining term of more than one year, the aggregate amount of maturities for each of the five years following the balance sheet date; and the weighted average interest rate for all deposit liabilities held by the entity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 405 -Topic 942 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481047/942-405-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Paragraph (e) -Publisher SEC Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Publisher SEC Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.12) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1 + Details
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- References No definition available. + Details
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