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Deposits | 12 Months Ended
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Dec. 31, 2023
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) |  | 2023 |  | 2022
1 year or less |  | $ | 564,670 |  |  | $ | 206,621 |
Over 1 year to 2 years |  | 24,970 |  |  | 59,571 |
Over 2 years to 3 years |  | 10,382 |  |  | 18,047 |
Over 3 years to 4 years |  | 4,565 |  |  | 9,066 |
Over 4 years to 5 years |  | 3,144 |  |  | 5,211 |
Over 5 years |  | 1,772 |  |  | 1,935 |
Total |  | $ | 609,503 |  |  | $ | 300,451 |
CDs issued in amounts that meet or exceed the FDIC insurance limit of $250,000 totaled $170.2 million and $84.5 million at December 31, 2023 and 2022, respectively. The Company has pledged assets as collateral covering certain deposits in the amount of $166.0 million and $378.1 million at December 31, 2023 and 2022, respectively. The amount of overdraft deposits that were reclassified as loans at December 31, 2023 and 2022 was $938,000 and $723,000, respectively. At December 31, 2023 and 2022, the Company, in the normal course of business, had deposits from certain officers, directors and their associated companies totaling $60.4 million and $62.7 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 -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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