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Deposits

12 Months Ended

Dec. 31, 2021

Deposits [Abstract]

Deposits

DEPOSITS

The following is a summary of the scheduled maturities of time deposits (i.e. CDs) as of the dates indicated:

						December 31,
(In thousands)						2021						2020
1 year or less						$	168,558					$	243,232
Over 1 year to 2 years						93,525						54,533
Over 2 years to 3 years						19,742						21,068
Over 3 years to 4 years						16,577						18,267
Over 4 years to 5 years						8,948						17,448
Over 5 years						2,298						3,118
Total						$	309,648					$	357,666

CDs issued in amounts that meet or exceed the FDIC insurance limit of $250,000 totaled $80.7 million and $91.6 million at December 31, 2021 and 2020, respectively.

The Company has pledged assets as collateral covering certain deposits in the amount of $347.0 million and $322.0 million at December 31, 2021 and 2020, respectively.

The amount of overdraft deposits that were reclassified as loans at December 31, 2021 and 2020 was $822,000 and $520,000, respectively.

At December 31, 2021 and 2020, the Company, in the normal course of business, had deposits from certain officers, directors and their associated companies totaling $52.6 million and $52.9 million, respectively.

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 405
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=116652737&loc=d3e64164-112818

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.12)
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (e)

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406

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- References

No definition available.

+ Details

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