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Interest-Bearing Deposits
 12 Months Ended
Dec. 31, 2022
Interest-Bearing Deposits [Abstract]  
Interest-Bearing Deposits

Note 9: Interest-Bearing Deposits

 

Interest-bearing time deposits in denominations of $250,000 or more totaled $23.4 million on December 31, 2022 and $13.8 million on December 31, 2021. Certificates of deposit obtained from brokers totaled $7.0 million as of December 31, 2022. There were no certificates of deposits from brokers as of December 31, 2021.

 

At December 31, 2022, the scheduled maturities of time deposits were as follows:

 

($ in thousands)    
2023  $123,829 
2024   23,877 
2025   37,276 
2026   3,438 
2027   2,278 
Thereafter   182 
      
Total  $190,880 

 

Included in time deposits at December 31, 2022 and 2021 were $58.0 million and $55.6 million, respectively, of deposits which were obtained through the Certificate of Deposit Account Registry Service (“CDARS”). This service allows deposit customers to maintain fully insured balances in excess of the $250,000 FDIC limit without the inconvenience of having multi-banking relationships. Under the reciprocal program that the Company is currently participating in, customers agree to allow their deposits to be placed with other participating banks in the CDARS program in insurable amounts under $250,000. In exchange, other banks in the program agree to place their deposits with the Company also in insurable amounts under $250,000.

 

Deposits of directors and their associates, including deposits of companies for which directors are principal owners and executive officers were $7.0 million and $3.9 million at December 31, 2022 and 2021, respectively.