(7) Deposits

The scheduled maturities of total time deposits as of the years ended December 31, 2013 and 2012 were as follows:

(in thousands)	2013		2012
Due within:
One year	$	231,644	$	280,477
Two years	58,844		65,220
Three years	30,767		23,482
Four years	12,662		11,984
Five years	16,087		12,139
Total	$	350,004	$	393,302

At December 31, 2013 and 2012, the Company had certificates and other time deposits in denominations of $100,000 or more with maturities as follows:

(in thousands)	2013		2012
Due within:
Three months or less	$	32,647	$	37,166
Over three months through six months	14,435		18,690
Over six months through twelve months	27,055		33,265
Over twelve months	37,530		31,656
Total	$	111,667	$	120,777

The Federal Reserve Bank required the Bank to maintain cash or balances of $1.3 million and $1.4 million at December 31, 2013 and 2012, respectively, to satisfy reserve requirements.

Average compensating balances held at correspondent banks were $315,000 and $1.6 million at December 31, 2013 and 2012, respectively. The Bank maintains such compensating balances with correspondent banks to offset charges for services rendered by those banks.