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Note 7 - Deposits

3 Months Ended

Mar. 31, 2021

Notes to Financial Statements

Deposit Liabilities Disclosures [Text Block]

Note 7. Deposits

The following table presents the balance of deposits held, by category as of

March 31, 2021

and

December 31, 2020.

(In thousands)		March 31,				December 31,
		2021				2020
Non-interest bearing		$	173,520			$	158,676
Interest bearing:
NOW			34,433				30,529
Savings			103,025				98,635
Money market			131,844				146,389
Certificates of deposit, less than $250,000			165,130				160,968
Certificates of deposit, $250,000 or greater			66,470				49,172
Brokered deposits			18,456				41,287
Interest bearing, Total			519,358				526,980
Total Deposits		$	692,878			$	685,656

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 are included in the non-interest-bearing deposits, which totaled approximately

$68.8

million and

$59.3

million as of

March 31, 2021

and

December 31, 2020,

respectively.

As of

March 31, 2021,

contractual maturities of Certificates of Deposit (“CDs”), and brokered deposits is summarized as follows:

(In thousands)		CDs less than $250,000				CDs $250,000 or greater				Brokered Deposits				Total
1 year or less		$	146,767			$	45,491			$	16,957			$	209,215
More than 1 year through 2 years			14,345				19,978				1,000				35,323
More than 2 years through 3 years			2,667				751				-				3,418
More than 3 years through 4 years			1,074				250				499				1,823
More than 4 years through 5 years			277				-				-				277
		$	165,130			$	66,470			$	18,456			$	250,056

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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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X

- References

No definition available.

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