Deposits

12 Months Ended

Dec. 31, 2016

(7) Deposits

The scheduled maturities of total time deposits as of the years ended December 31, 2016 and 2015 were as follows:

(in thousands)	2016			2015
Due within:
One year		$	217,970		$	201,418
Two years			50,330			56,026
Three years			24,807			29,030
Four years			6,363			6,022
Five years			6,490			5,586
Thereafter			0			0
Total		$	305,960		$	298,082

At December 31, 2016 and 2015, the Company had certificates and other time deposits in denominations of $100,000 or more with maturities as follows:

(in thousands)	2016			2015
Due within:
Three months or less		$	50,270		$	39,122
Over three months through six months			34,500			30,704
Over six months through twelve months			40,249			30,432
Over twelve months			27,237			31,986
Total		$	152,256		$	132,244

Total time deposits of more than $250,000 totaled $72.2 million and $56.4 million at December 31, 2016 and 2015, respectively.

The Federal Reserve Bank required the Bank to maintain cash or balances of $1.6 million at December 31, 2016 and 2015 to satisfy reserve requirements. Average compensating balances held at correspondent banks were $570,000 and $865,000 at December 31, 2016 and 2015, respectively. The Bank maintains such compensating balances with correspondent banks to offset charges for services rendered by those banks.