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Note 7 - Deposits | 9 Months Ended
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Sep. 30, 2024
Notes to Financial Statements |
Deposit Liabilities Disclosures [Text Block] | Note 7 - Deposits Deposits and weighted-average interest rates at the dates indicated are as follows:
|  | September 30, 2024 |  |  | December 31, 2023 |
|  | Amount |  |  | Weighted-Average Interest Rate |  |  | Amount |  |  | Weighted-Average Interest Rate |
|  | (Dollars in thousands) |
Noninterest-bearing demand deposits |  | $ | 252,999 |  |  |  | — | % |  | $ | 252,083 |  |  |  | — | %
Interest-bearing demand deposits |  |  | 167,202 |  |  |  | 0.60 |  |  |  | 169,418 |  |  |  | 0.56 |
Money market accounts |  |  | 433,307 |  |  |  | 3.18 |  |  |  | 362,205 |  |  |  | 1.78 |
Savings accounts |  |  | 212,763 |  |  |  | 1.45 |  |  |  | 242,148 |  |  |  | 1.62 |
Certificates of deposit, retail |  |  | 441,665 |  |  |  | 4.21 |  |  |  | 443,412 |  |  |  | 4.04 |
Certificates of deposit, brokered |  |  | 203,705 |  |  |  | 4.65 |  |  |  | 207,626 |  |  |  | 4.85 |
Total deposits |  | $ | 1,711,641 |  |  |  | 2.68 |  |  | $ | 1,676,892 |  |  |  | 2.34 |
The aggregate amount of time deposits in excess of the Federal Deposit Insurance Corporation ("FDIC") insured limit, currently $250,000, at September 30, 2024 and December 31, 2023, were $170.7 million and $173.8 million, respectively. Maturities of certificates at the dates indicated are as follows:
|  | September 30, 2024 |  |  | December 31, 2023 |
|  | (In thousands) |
Within one year or less |  | $ | 523,584 |  |  | $ | 495,605 |
After one year through two years |  |  | 45,754 |  |  |  | 79,537 |
After two years through three years |  |  | 31,221 |  |  |  | 24,777 |
After three years through four years |  |  | 24,305 |  |  |  | 28,302 |
After four years through five years |  |  | 20,506 |  |  |  | 22,817 |
Total certificates of deposit |  | $ | 645,370 |  |  | $ | 651,038 |
At September 30, 2024 and December 31, 2023, deposits included $119.0 million and $114.2 million, respectively, in public fund deposits. The Bank had an outstanding letter of credit from the Federal Home Loan Bank of Des Moines ("FHLB") with a notional amount of $60.0 million at September 30, 2024 and December 31, 2023, to secure public deposits. This exceeds the minimum collateral requirements established by the Washington Public Deposit Protection Commission. Also included in deposits at September 30, 2024 and December 31, 2023, were funds held by federally recognized tribes totaling $20.7 million and $18.4 million, respectively. Investment securities with a carrying value of $24.2 million and $23.8 million were pledged as collateral for these deposits at September 30, 2024 and December 31, 2023, respectively. This exceeds the minimum collateral requirements established by the Bureau of Indian Affairs. Interest on deposits by type for the periods shown was as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
|  | (In thousands) |
Demand deposits |  | $ | 187 |  |  | $ | 204 |  |  | $ | 567 |  |  | $ | 599 |
Money market accounts |  |  | 2,875 |  |  |  | 1,146 |  |  |  | 7,244 |  |  |  | 2,866 |
Savings accounts |  |  | 923 |  |  |  | 918 |  |  |  | 2,791 |  |  |  | 2,056 |
Certificates of deposit, retail |  |  | 4,340 |  |  |  | 3,505 |  |  |  | 12,913 |  |  |  | 8,323 |
Certificates of deposit, brokered |  |  | 2,635 |  |  |  | 1,926 |  |  |  | 7,737 |  |  |  | 4,417 |
Total interest expense on deposits |  | $ | 10,960 |  |  | $ | 7,699 |  |  | $ | 31,252 |  |  | $ | 18,261 |

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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/1943274/2147478353/942-405-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(12)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Paragraph e -Publisher SEC Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Publisher SEC + Details
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