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DEPOSITS

12 Months Ended

Dec. 31, 2024

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

DEPOSITS

DEPOSITS

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

						December 31, 2024						December 31, 2023
Non interest bearing demand deposits						$	252,656					$	265,704
Interest bearing demand deposits						355,750						343,276
Savings accounts						159,821						176,548
Money market accounts						369,534						374,055
Certificate accounts						350,387						359,509
Total deposits						$	1,488,148					$	1,519,092

At December 31, 2024, the scheduled maturities of time deposits were as follows:

2025						$	329,638
2026						13,422
2027						988
2028						6,059
2029						280
Total						$	350,387

Time deposits of $250 or more were $68,977 and $103,802 at December 31, 2024 and December 31, 2023, respectively. Brokered deposits were $19,125 and $98,259 at December 31, 2024 and December 31, 2023, respectively.

Deposits from the Company’s directors, executive officers, principal stockholders and their affiliates held by the Bank at December 31, 2024 and December 31, 2023, amounted to $38,889, and $33,929, respectively.

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- References

No definition available.

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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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