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Deposits

3 Months Ended

Mar. 31, 2024

Deposits [Abstract]

Deposits

Deposits

The following table presents the balance of deposits held, by category as of March 31, 2024 and December 31, 2023.

(In thousands)						March 31, 2024						December 31, 2023
Non-interest bearing						$	109,265					$	110,056
Interest bearing:
Negotiable order of withdrawal accounts						29,460						33,035
Savings deposits						39,378						44,104
Interest bearing DDA						183,084						171,577
Money market						184,653						200,280
Certificates of deposit, less than $250,000						172,386						175,988
Certificates of deposit, $250,000 or greater						73,926						64,745
Brokered deposits						67,572						40,526
Interest bearing, Total						750,459						730,255
Total Deposits						$	859,724					$	840,311

The prepaid debit card deposits are included in the non-interest-bearing deposits, interest bearing DDA and money market deposits, and totaled approximately $206.2 million and $213.4 million as of March 31, 2024 and December 31, 2023, respectively.

As of March 31, 2024, 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			$	146,631					$	60,648					$	60,899					$	268,178
More than 1 year through 2 years			21,768						8,374						251						30,393
More than 2 years through 3 years			3,640						4,904						6,422						14,966
More than 3 years through 4 years			145						—						—						145
More than 4 years through 5 years			202						—						—						202
			$	172,386					$	73,926					$	67,572					$	313,884

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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//1943274/2147481047/942-405-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (e)
-Publisher SEC

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

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.12)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1

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X

- References

No definition available.

+ Details

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