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DEPOSITS | 12 Months Ended
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Dec. 31, 2021
Deposits [Abstract] |
DEPOSITS | DEPOSITS Deposits at December 31, 2021 and December 31, 2020, are summarized as follows:
| December 31, 2021 |  | December 31, 2020
| (In thousands)
Non -interest bearing deposits | $ | 44,894 |  |  | $ | 44,195 |
NOW and demand accounts | 363,419 |  |  | 317,974 |
Savings | 364,932 |  |  | 276,584 |
Time deposits | 473,795 |  |  | 717,431 |
Total | $ | 1,247,040 |  |  | $ | 1,356,184 |
Included within the NOW and demand account caption, as well as the savings caption above are money market accounts with varying transactional limits. Time deposits mature as follows for the year ending December 31:
| (In thousands)
2022 | $ | 304,656 |
2023 | 121,643 |
2024 | 34,911 |
2025 | 6,499 |
2026 | 6,086 |
| $ | 473,795 |
Time deposits that meet or exceed the FDIC insurance limit of $250,000 at December 31,2021 and 2020, were $47.3 million and $96.1 million, respectively. As of December 31, 2021 and 2020, the Company had $2.4 million and $3.6 million respectively, in related party (principal officers, directors, and their affiliates) deposits.

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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 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1406 -Paragraph (e) Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1406 + Details
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