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Deposits

12 Months Ended

Dec. 31, 2024

Statistical Disclosure for Banks [Abstract]

Deposits

Note 9 – Deposits

Deposit balances as of December 31 consisted of the following:

(Dollars in thousands)	2024				2023
Noninterest-bearing demand deposits	$	524,945			$	547,625
Interest-bearing demand deposits		630,155				599,681
Money market deposits		290,012				247,602
Savings deposits		338,109				336,851
Local certificates of deposit		394,371				366,851
Brokered certificates of deposit		36,511				23,445
Total deposits	$	2,214,103			$	2,122,055

Scheduled maturities of certificates of deposit as of December 31, 2024 were as follows:

(Dollars in thousands)
2025	$	413,786
2026		10,077
2027		3,033
2028		2,342
2029		1,377
Thereafter		267
Total	$	430,882

The Bank had certificates of deposit issued in denominations of $250,000 or greater totaling $210.5 million and $199.7 million at December 31, 2024 and 2023, respectively. The Bank held $36.5 million and $23.4 million in brokered certificates of deposit at December 31, 2024 and 2023, respectively. In addition, the Bank had $41.0 million and $36.2 million of certificates of deposit as of December 31, 2024, and December 31, 2023, respectively, that had been issued through the Certificate of Deposit Account Registry Service (“CDARS”).

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- References

No definition available.

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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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