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DEPOSITS

12 Months Ended

Dec. 31, 2021

DEPOSITS.

DEPOSITS

11. DEPOSITS

The following table sets forth the balance of the Company’s deposits:

​

​	​	​	​	​	​	​
​	​	AT  DECEMBER 31,
​		2021			2020
​	​	(IN THOUSANDS)
Demand:		​			​
Non-interest bearing	​	$	211,106	​	$	177,533
Interest bearing	​		235,582	​		200,969
Savings	​		133,163	​		112,353
Money market	​		267,202	​		219,919
Certificates of deposit	​		292,325	​		344,146
Total deposits	​	$	1,139,378	​	$	1,054,920

​

The following table sets forth the balance of certificates of deposit as of December 31, 2021 maturing in the periods presented:

​

​	​	​	​	​
​	​	​
​	​	CERTIFICATES OF
YEAR:		DEPOSIT
​		(IN THOUSANDS)		​
2022	​	$	182,694	​
2023	​		55,286	​
2024	​		19,827	​
2025	​		13,542	​
2026	​		8,330	​
2027 and after	​		12,646	​
Total	​	$	292,325	​

​

The aggregate amount of certificates of deposit that exceed the FDIC insurance limit of $250,000 at December 31, 2021 and 2020 are $66.7 million and $81.7 million, respectively.

The amount of related party deposits totaled $2,177,000 and $938,000 at December 31, 2021 and 2020, respectively

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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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X

- References

No definition available.

+ Details

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