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Note 9 - Deposits

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Deposit Liabilities Disclosures [Text Block]

NOTE 9 – DEPOSITS

Deposits are summarized as follows at the dates indicated:

		December 31,
		2024				2023
Noninterest-bearing checking		$	627,679			$	654,048
Interest-bearing checking (1)			176,561				244,028
Savings			154,188				151,630
Money market (2)			341,615				359,063
Certificates of deposit less than $100,000 (3)			440,257				587,858
Certificates of deposit of $100,000 through $250,000			455,594				429,373
Certificates of deposit greater than $250,000			133,045				79,540
Escrow accounts related to mortgages serviced (4)			10,479				16,783
Total		$	2,339,418			$	2,522,323

_____________________________

(1) Includes no brokered deposits and $70.2 million of brokered deposits at December 31, 2024 and 2023, respectively.

(2) Includes $279,000 and $1,000 of brokered deposits at December 31, 2024 and 2023, respectively.

(3) Includes $143.1 million and $361.3 million of brokered certificates of deposit at December 31, 2024 and 2023, respectively.

(4) Noninterest-bearing accounts.

Scheduled maturities of time deposits at December 31, 2024 for future years ending are as follows:

Maturing in 2025		$	869,282
Maturing in 2026			127,484
Maturing in 2027			20,307
Maturing in 2028			11,419
Maturing in 2029 and thereafter			404
Total		$	1,028,896

Interest expense by deposit category for the years indicated is as follows:

		Year Ended December 31,
		2024				2023				2022
Interest-bearing checking		$	2,521			$	2,586			$	495
Savings and money market			7,633				5,511				3,775
Certificates of deposit			43,009				28,654				5,150
Total		$	53,163			$	36,751			$	9,420

The Company had related party deposits of approximately $3.2 million and $2.8 million at December 31, 2024 and 2023, respectively, which included deposits held for directors and executive officers.

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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.

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