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Deposits

12 Months Ended

Dec. 31, 2020

Deposits [Abstract]

Deposits

(6) Deposits

At December 31, 2020, contractual maturities of certificate of deposits are summarized as follows: (in thousands).

2021		$	68,702
2022			23,687
2023			15,448
2024			7,963
2025			8,289
Thereafter			7,536
		$	131,625

The aggregate amounts of certificates of deposit of $250,000 or more, the standard FDIC deposit insurance coverage limit per depositor, were approximately $32,859,000 and $30,482,000 at December 31, 2020 and 2019, respectively.          

The following is a summary of interest expense on deposits for the years ended December 31, 2020 and 2019: (in thousands)

		Year Ended December 31, 2020				Year Ended December 31, 2019
Savings accounts		$	878			$	31
Interest-bearing checking accounts			286				352
Market rate checking accounts			965				274
Certificates of deposit			2,623				1,629
		$	4,752			$	2,286

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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

+ Details

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X

- References

No definition available.

+ Details

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