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Deposits

12 Months Ended

Dec. 31, 2024

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)						2024						2023
1 year or less						$	494,737					$	564,670
Over 1 year to 2 years						24,515						24,970
Over 2 years to 3 years						4,548						10,382
Over 3 years to 4 years						2,823						4,565
Over 4 years to 5 years						4,496						3,144
Over 5 years						1,305						1,772
Total						$	532,424					$	609,503

CDs issued in amounts that meet or exceed the FDIC insurance limit of $250,000 totaled $109.7 million and $170.2 million at December 31, 2024 and 2023, respectively.

The Company has pledged assets as collateral covering certain deposits in the amount of $176.7 million and $166.0 million at December 31, 2024 and 2023, respectively.

The amount of overdraft deposits that were reclassified as loans at were $843,000 and $938,000 at December 31, 2024 and 2023, respectively.

In the normal course of business, the Company had deposits from certain officers, directors and their associated companies totaling $6.6 million and $60.4 million at December 31, 2024 and 2023, 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/1943274/2147478353/942-405-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(12))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

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

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

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- References

No definition available.

+ Details

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