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Deposits
 12 Months Ended
Dec. 31, 2022
Deposits [Abstract]  
Deposits Deposits
A stratification of time deposits is presented in the following table:
December 31,
(in thousands)20222021
Time deposits of less than or equal to $250 thousand$74,421 $96,214 
Time deposits of more than $250 thousand44,609 54,021 
Total time deposits$119,030 $150,235 

Interest on time deposits was $323 thousand, $246 thousand and $554 thousand in 2022, 2021 and 2020, respectively.

Scheduled maturities of time deposits at December 31, 2022 are as follows:
(in thousands)20232024202520262027ThereafterTotal
Scheduled time deposit maturities$87,011 $11,152 $8,898 $8,167 $3,801 $1 $119,030 

As of December 31, 2022, $231.3 million in securities were pledged as collateral for our local agency deposits.

Our deposit portfolio includes deposits offered through the Promontory Interfinancial Network that are comprised of Certificate of Deposit Account Registry Service® ("CDARS") balances included in time deposits and Insured Cash Sweep® ("ICS") balances included in money market deposits. In addition, we offer deposits through Reich & Tang Deposit Networks, LLC, comprised of Demand Deposit MarketplaceSM ("DDM") balances. Through these two networks we are able to offer our customers access to FDIC-insured deposit products in aggregate amounts exceeding current insurance limits. When we place funds through CDARS, ICS and DDM, on behalf of a customer, we have the option of receiving matching deposits through the network's reciprocal deposit program, or placing deposits "one-way" for which we receive no matching deposits. We consider the reciprocal deposits to be in-market deposits as distinguished from traditional out-of-market brokered deposits. The following table shows the composition of our network deposits at December 31, 2022 and 2021.
(in thousands)December 31, 2022December 31, 2021
Reciprocal 1
One-Way 1
Reciprocal 1
One-Way 1
CDARS$11,031 $2,162 $21,413 $2,160 
ICS100,749 — — 110,900 
DDM62,219 — 52,365 60,000 
Total network deposits$173,999 $2,162 $73,778 $173,060 
1 Reciprocal deposits are on-balance-sheet while one-way deposits are off-balance-sheet.

The aggregate amount of deposit overdrafts that have been reclassified as loan balances was $247 thousand and $346 thousand at December 31, 2022 and 2021, respectively.

The Bank accepts deposits from shareholders, board of directors and employees in the normal course of business, and the terms are comparable to those with non-affiliated parties. The total deposits from board directors and their businesses, and executive officers were $11.2 million and $25.3 million at December 31, 2022 and 2021, respectively.