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Note 7 - Deposits

9 Months Ended

Sep. 30, 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 September 30, 2021 and December 31, 2020.

(In thousands)		September 30,				December 31,
		2021				2020
Non-interest bearing		$	207,941			$	158,676
Interest bearing:
Negotiable order of withdrawal			34,528				30,529
Savings			102,365				98,635
Money market			165,671				146,389
Certificates of deposit, less than $250,000			142,141				160,968
Certificates of deposit, $250,000 or greater			54,991				49,172
Brokered deposits			27,036				41,287
Interest bearing, Total			526,732				526,980
Total Deposits		$	734,673			$	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 and money market deposits, which totaled approximately $142.4 million and $74.3 million as of September 30, 2021 and December 31, 2020, respectively.

As of September 30, 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		$	110,228			$	29,570			$	24,544			$	164,342
More than 1 year through 2 years			22,264				24,898				1,495				48,657
More than 2 years through 3 years			1,375				-				748				2,123
More than 3 years through 4 years			2,608				523				249				3,380
More than 4 years through 5 years			5,666				-				-				5,666
		$	142,141			$	54,991			$	27,036			$	224,168

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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

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

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

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- References

No definition available.

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