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DEPOSITS

9 Months Ended

Sep. 30, 2024

Deposits [Abstract]

DEPOSITS

DEPOSITS

The following is a summary of deposits by type at September 30, 2024 and December 31, 2023, respectively: 

						September 30, 2024						December 31, 2023
Non-interest bearing demand deposits						$	256,840					$	265,704
Interest bearing demand deposits						346,971						343,276
Savings accounts						169,096						176,548
Money market accounts						366,067						374,055
Certificate accounts						381,693						359,509
Total deposits						$	1,520,667					$	1,519,092

At September 30, 2024, the scheduled maturities of certificate accounts were as follows for the year ended, except December 31, 2024, which is the three months ended:

December 31, 2024						$	158,795
December 31, 2025						208,728
December 31, 2026						7,256
December 31, 2027						856
December 31, 2028						5,907
After December 31, 2028						151
Total						$	381,693

Certificate accounts of $250 or more were $100,945 and $103,802 at September 30, 2024 and December 31, 2023, respectively.

Brokered deposits were $66,654 at September 30, 2024 and consisted of $48,578 of brokered certificate accounts and $18,076 of brokered money market accounts. Brokered Deposits were $98,259 at December 31, 2023 and consisted of $58,209 of brokered certificate accounts and $40,050 of brokered money market accounts.

At September 30, 2024, the scheduled maturities of brokered certificate accounts were as follows for the year ended, except December 31, 2024, which is the three months ended:

December 31, 2024						$	34,455
December 31, 2025 (1)						8,634
December 31, 2028 (1)						5,489
Total						$	48,578

(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/1943274/2147478353/942-405-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(12))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

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

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

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- References

No definition available.

+ Details

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