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DEPOSITS

9 Months Ended

Sep. 30, 2023

Deposits [Abstract]

DEPOSITS

DEPOSITS

The following is a summary of deposits by type at September 30, 2023 and December 31, 2022, respectively: 

						September 30, 2023						December 31, 2022
Non-interest bearing demand deposits						$	275,790					$	284,722
Interest bearing demand deposits						336,962						371,210
Savings accounts						183,702						220,019
Money market accounts						312,689						323,435
Certificate accounts						364,092						225,334
Total deposits						$	1,473,235					$	1,424,720

At September 30, 2023, the scheduled maturities of certificate accounts were as follows for the year ended, except December 31, 2023, which is the three months ended:

December 31, 2023						$	80,547
December 31, 2024						255,639
December 31, 2025						19,146
December 31, 2026						2,371
December 31, 2027						677
After December 31, 2027						5,712
Total						$	364,092

Certificate accounts of $250 or more were $128,414 and $66,827 at September 30, 2023 and December 31, 2022, respectively.

Brokered deposits were $85,173 at September 30, 2023 and consisted of $84,163 of brokered certificate accounts and $1,010 of brokered money market accounts. Brokered Deposits were $39,841 at December 31, 2022 and consisted of $39,839 of brokered certificate accounts and $2 of brokered money market accounts.

At September 30, 2023, the scheduled maturities of brokered certificate accounts were as follows for the year ended, except December 31, 2023, which is the three months ended:

December 31, 2023						$	25,706
December 31, 2024						44,334
December 31, 2025 (1)						8,634
December 31, 2028 (1)						5,489
Total						$	84,163

(1) The Company can call the brokered certificate accounts 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
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 405
-Topic 942
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481047/942-405-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (e)
-Publisher SEC

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

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.12)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1

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X

- References

No definition available.

+ Details

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