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Deposits

12 Months Ended

Dec. 31, 2022

Deposits

Deposits

Note 7. Deposits

The following table summarizes the major classifications of deposit balances as of the dates indicated:

​	​	​	​	​	​	​	​
​		December 31,
​	​	2022			2021		​
(dollars in thousands)	​	​					​
Noninterest-bearing deposits	​	$	143,262	​	$	155,624	​
​	​	​	​	​	​	​	​
Interest-bearing deposits:	​	​	​	​	​	​	​
Interest-bearing checking	​	​	40,086	​	​	37,305	​
Money Market	​		15,791	​		23,103	​
Savings	​		113,101	​		106,818	​
Time deposits, $100,000 or more	​		19,999	​		24,624	​
Time deposits below $100,000	​		30,708	​		35,773	​
Total interest- bearing deposits	​	​	219,685	​	​	227,623	​
​	​	​	​	​	​	​	​
Total Deposits	​	$	362,947	​	$	383,247	​

​

Interest expense on deposits for the years ended December 31, 2022 and 2021 is as follows:

​

​	​	​	​	​	​	​	​
​		2022			2021
(dollars in thousands)	​	​					​
Interest-bearing checking	​	$	11	​	$	11	​
Money Market	​		12	​		11	​
Savings	​		59	​		51	​
Time deposits, $100,000 or more	​		183	​		248	​
Time deposits below $100,000	​	​	206	​		288	​
Total Interest Expense	​	$	471	​	$	609	​

​

The Bank recognized $0.2 million of fee income from deposits for the years ended December 31, 2022 and 2021.

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

​

​	​	​	​
(dollars in thousands)	​	Amount
Maturing in:	​	​	​
2023	​	$	26,461
2024	​		13,664
2025	​		4,187
2026	​		3,941
2027	​		2,125
2027 and thereafter	​		329
Total Time Deposits	​	$	50,707

​

Deposit balances of executive officers and directors and their affiliated interests totaled approximately $2.1 million and $2.2 million at December 31, 2022 and 2021, respectively.

The Bank had no brokered deposits at December 31, 2022 and 2021.

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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 https://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 https://asc.fasb.org/extlink&oid=126897435&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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