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DEPOSITS

12 Months Ended

Dec. 31, 2024

DEPOSITS.

DEPOSITS

10. DEPOSITS

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

​

​	​	​	​	​	​	​
​	​	AT  DECEMBER 31,
​		2024			2023
​	​	(IN THOUSANDS)
Demand:		​			​
Non-interest bearing	​	$	171,622	​	$	172,070
Interest bearing	​		342,158	​		288,124
Savings	​		119,479	​		119,484
Money market	​		231,424	​		256,205
Time deposits (1)	​		336,312	​		322,477
Total deposits	​	$	1,200,995	​	$	1,158,360

(1) Time deposits include certificates of deposit (CDs) and individual retirement accounts (IRAs).

​

The following table sets forth the balance of time deposits as of December 31, 2024 maturing in the periods presented:

​

​	​	​	​	​
YEAR:		TIME DEPOSITS
​		(IN THOUSANDS)		​
2025	​	$	226,193	​
2026	​		90,296	​
2027	​		6,222	​
2028	​		5,131	​
2029	​		4,078	​
2030 and after	​		4,392	​
Total	​	$	336,312	​

​

The aggregate amount of time deposits that meet or exceed the FDIC insurance limit of $250,000 at December 31, 2024 and 2023 are $101.2 million and $86.1 million, respectively.

The amount of related party deposits totaled $4,219,000 and $3,813,000 at December 31, 2024 and 2023, respectively.

Additionally, the Company had one deposit relationship that exceeded 5% of total deposits at December 31, 2024. The amount of this relationship totaled $86.7 million and $52.9 million at December 31, 2024 and 2023, 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
-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

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X

- References

No definition available.

+ Details

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