(7)

Deposits

The scheduled maturities of total time deposits as of the years ended December 31, 2015 and 2014 were as follows:

(in thousands)	2015		2014
Due within:
One year	$	201,418	$	204,566
Two years		56,026		58,177
Three years		29,030		33,551
Four years		6,022		16,760
Five years		5,586		5,282
Thereafter		0		1,347
Total	$	298,082	$	319,683

At December 31, 2015 and 2014, the Company had certificates and other time deposits in denominations of $100,000 or more with maturities as follows:

(in thousands)	2015		2014
Due within:
Three months or less	$	39,122	$	33,488
Over three months through six months		30,704		29,381
Over six months through twelve months		30,432		35,308
Over twelve months		31,986		36,768

Total	$	132,244	$	134,945

Total time deposits of more than $250,000 totaled $254.7 million and $253.9 million at December 31, 2015 and 2014, respectively.

The Federal Reserve Bank required the Bank to maintain cash or balances of $1.6 million at December 31, 2015 and 2014 to satisfy reserve requirements. Average compensating balances held at correspondent banks were $544,000 and $408,000 at December 31, 2015 and 2014, respectively. The Bank maintains such compensating balances with correspondent banks to offset charges for services rendered by those banks.