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Deposits

12 Months Ended

Dec. 31, 2020

Deposits [Abstract]

Deposits

NOTE 7. Deposits

The composition of deposits at December 31, 2020 and December 31, 2019 was as follows:

		December 31, 2020				December 31, 2019
		(in thousands)
Noninterest bearing demand deposits		$	407,576			$	269,171
Savings and interest bearing demand deposits:
NOW accounts		$	132,249			$	102,337
Money market accounts			207,837				154,133
Regular savings accounts			136,778				107,705
		$	476,864			$	364,175
Time deposits:
Balances of less than $250,000		$	59,621			$	59,094
Balances of $250,000 or greater			69,037				79,104
		$	128,658			$	138,198
		$	1,013,098			$	771,544

Money market accounts include $34.6 million and $27.0 million in reciprocal deposits at December 31, 2020 and 2019, respectively.

The outstanding balance of time deposits at December 31, 2020 was due as follows:

		December 31, 2020
		(in thousands)
2021		$	117,375
2022			6,484
2023			2,031
2024			1,391
2025			1,214
Thereafter			163
		$	128,658

Deposit overdrafts reclassified as loans totaled $70 thousand and $135 thousand at December 31, 2020 and 2019, respectively.

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 405
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=116652737&loc=d3e64164-112818

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.12)
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

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X

- References

No definition available.

+ Details

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