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Note 8 - Deposits

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Deposit Liabilities Disclosures [Text Block]

NOTE 8 - DEPOSITS

Composition of deposits is as follows:

		December 31,
		2020				2019
Noninterest-bearing demand deposits		$	326,188			$	210,762
Interest-bearing NOW accounts			336,994				273,168
Money market accounts			297,801				245,610
Savings deposits			179,561				153,183
Certificates of deposit			253,000				402,034
		$	1,393,544			$	1,284,757

Time deposits that meet or exceed the FDIC Insurance limit of $250,000 were $30.7 million and $89.3 million at December 31, 2020 and 2019, respectively. Certificates of deposits include wholesale certificates totaling $9.9 million and $65.1 million at December 31, 2020 and 2019, respectively. Of those certificates, $18.9 million are brokered at December 31, 2019 and none at December 31, 2020.

Scheduled maturities of certificates of deposit for the next five years as of December 31, 2020 are as follows:

2021		$	188,040
2022			54,384
2023			8,160
2024			2,238
2025			178
		$	253,000

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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

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- References

No definition available.

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