XML 30 R16.htm IDEA: XBRL DOCUMENT
v3.21.1

Note 9 - Deposits | 12 Months Ended
--- | ---
Dec. 31, 2020
Notes to Financial Statements |
Deposit Liabilities Disclosures [Text Block] | Note 9. Deposits The following table presents the balance of deposits held, by category, and the related weighted average stated interest rate as of December 31, 2020 and 2019.
|  | December 31, |
(In thousands) |  | 2020 |  |  | 2019 |
|  | Balance |  |  | Weighted Avg. Stated Interest Rate |  |  | Balance |  |  | Weighted Avg. Stated Interest Rate |
Non-interest bearing |  | $ | 158,676 |  |  |  | - |  |  | $ | 88,135 |  |  |  | - |
Interest bearing: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
NOW |  |  | 30,529 |  |  |  | 0.07 | % |  |  | 26,864 |  |  |  | 0.08 | %
Savings |  |  | 98,635 |  |  |  | 0.36 | % |  |  | 64,020 |  |  |  | 0.76 | %
Money market |  |  | 146,389 |  |  |  | 0.45 | % |  |  | 99,115 |  |  |  | 1.85 | %
Certificates of deposit, less than $250,000 |  |  | 160,968 |  |  |  | 0.78 | % |  |  | 193,942 |  |  |  | 2.19 | %
Certificates of deposit, $250,000 or greater |  |  | 49,172 |  |  |  | 0.79 | % |  |  | 67,550 |  |  |  | 2.48 | %
Brokered deposits |  |  | 41,287 |  |  |  | 1.93 | % |  |  | 229,909 |  |  |  | 2.01 | %
Interest bearing, Total |  |  | 526,980 |  |  |  | 0.66 | % |  |  | 681,400 |  |  |  | 1.89 | %
Total Deposits |  | $ | 685,656 |  |  |  | 0.51 | % |  | $ | 769,535 |  |  |  | 1.68 | %
On July 22, 2020, the Company completed the purchase of prepaid debit card deposits of $50.0 million from a prominent national provider and processor of prepaid debit cards for corporate, consumer and government clients. The prepaid debit card deposits totaled approximately $59.3 million as of December 31, 2020, which is included in the non-interest bearing deposits. The following table presents interest expense, by deposit category, and the related weighted average effective interest rate for each of the years in the three -year period ended December 31, 2020.
(In thousands) |  | Year ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  | Interest Expense |  |  | Weighted Avg. Effective Interest Rate |  |  | Interest Expense |  |  | Weighted Avg. Effective Interest Rate |  |  | Interest Expense |  |  | Weighted Avg. Effective Interest Rate |
NOW |  | $ | 23 |  |  |  | 0.07 | % |  | $ | 18 |  |  |  | 0.07 | % |  | $ | 15 |  |  |  | 0.06 | %
Savings |  |  | 426 |  |  |  | 0.54 | % |  |  | 429 |  |  |  | 0.63 | % |  |  | 995 |  |  |  | 0.85 | %
Money market |  |  | 1,451 |  |  |  | 1.05 | % |  |  | 2,048 |  |  |  | 2.00 | % |  |  | 549 |  |  |  | 1.34 | %
Certificates of deposit, less than $250,000 |  |  | 3,227 |  |  |  | 1.75 | % |  |  | 4,986 |  |  |  | 2.38 | % |  |  | 3,048 |  |  |  | 1.57 | %
Certificates of deposit, $250,000 or greater |  |  | 1,188 |  |  |  | 1.95 | % |  |  | 1,546 |  |  |  | 2.01 | % |  |  | 1,226 |  |  |  | 1.68 | %
Brokered deposits |  |  | 2,839 |  |  |  | 1.88 | % |  |  | 4,958 |  |  |  | 2.47 | % |  |  | 3,191 |  |  |  | 1.91 | %
|  | $ | 9,154 |  |  |  | 1.43 | % |  | $ | 13,985 |  |  |  | 2.05 | % |  | $ | 9,024 |  |  |  | 1.46 | %
As of December 31, 2020, contractual maturities of Certificates of Deposit (“CDs”) and brokered deposits are summarized as follows:
(In thousands) |  | CDs less than $250,000 |  |  | CDs $250,000 or greater |  |  | Brokered Deposits |  |  | Total |
1 year or less |  | $ | 137,051 |  |  | $ | 41,794 |  |  | $ | 35,690 |  |  | $ | 214,535 |
More than 1 year through 2 years |  |  | 19,602 |  |  |  | 6,178 |  |  |  | 5,347 |  |  |  | 31,127 |
More than 2 years through 3 years |  |  | 2,655 |  |  |  | 946 |  |  |  | - |  |  |  | 3,601 |
More than 3 years through 4 years |  |  | 1,069 |  |  |  | - |  |  |  | 250 |  |  |  | 1,319 |
More than 4 years through 5 years |  |  | 591 |  |  |  | 254 |  |  |  | - |  |  |  | 845 |
|  | $ | 160,968 |  |  | $ | 49,172 |  |  | $ | 41,287 |  |  | $ | 251,427 |

X
- 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 + Details
Name: | us-gaap_DepositLiabilitiesDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration