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Deposits
 12 Months Ended
Dec. 31, 2014
Deposits  
Deposits
(7) Deposits

 

The scheduled maturities of total time deposits as of the years ended December 31, 2014 and 2013 were as follows:

 

(in thousands)   2014     2013  
Due within:                
One year   $ 204,638     $ 231,644  
Two years     58,177       58,844  
Three years     33,551       30,767  
Four years     16,760       12,662  
Five years     5,282       16,087  
Thereafter     1,347       0  
Total   $ 319,755     $ 350,004  

 

At December 31, 2014 and 2013, the Company had certificates and other time deposits in denominations of $100,000 or more with maturities as follows:

 

(in thousands)   2014     2013  
Due within:                
Three months or less   $ 33,488     $ 46,306  
Over three months through six months     29,381       18,398  
Over six months through twelve months     35,308       42,624  
Over twelve months     36,768       38,629  
                 
Total   $ 134,945     $ 145,957  

 

The Federal Reserve Bank required the Bank to maintain cash or balances of $1.6 million and $1.3 million at December 31, 2014 and 2013, respectively, to satisfy reserve requirements.

 

Average compensating balances held at correspondent banks were $408,000 and $315,000 at December 31, 2014 and 2013, respectively. The Bank maintains such compensating balances with correspondent banks to offset charges for services rendered by those banks.