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DEPOSITS

3 Months Ended

Mar. 31, 2023

Deposits [Abstract]

DEPOSITS

DEPOSITS

The following is a summary of deposits by type at March 31, 2023 and December 31, 2022, respectively: 

						March 31, 2023						December 31, 2022
Non-interest bearing demand deposits						$	247,735					$	284,722
Interest bearing demand deposits						390,730						371,210
Savings accounts						214,537						220,019
Money market accounts						309,005						323,435
Certificate accounts						274,786						225,334
Total deposits						$	1,436,793					$	1,424,720

At March 31, 2023, the scheduled maturities of time deposits were as follows for the year ended, except December 31, 2023, which is the nine months ended:

December 31, 2023						$	102,059
December 31, 2024						145,407
December 31, 2025						19,586
December 31, 2026						1,546
December 31, 2027						595
After December 31, 2027						5,593
Total						$	274,786

Time deposits of $250 or more were $87,549 and $66,827 at March 31, 2023 and December 31, 2022, respectively.

Brokered deposits were $63,962 at March 31, 2023 and consisted of $53,962 of brokered certificates of deposit and $10,000 of brokered money market accounts. Brokered Deposits were $39,841 at December 31, 2022 and consisted of $39,839 of brokered certificates of deposit and $2 of brokered money market accounts.

At March 31, 2023, the scheduled maturities of brokered certificates of deposit were as follows for the year ended, except December 31, 2023, which is the nine months ended:

December 31, 2023						$	39,839
December 31, 2025 (1)						8,634
December 31, 2028 (1)						5,489
Total						$	53,962

(1) The Company can call the brokered certificates of deposits maturing in the years ended December 31, 2025 and 2028, monthly beginning in March 2024.

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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 https://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 https://asc.fasb.org/extlink&oid=126897435&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

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- References

No definition available.

+ Details

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