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Deposits | 12 Months Ended
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Dec. 31, 2024
Deposits |
Deposits | Note 7. Deposits The following table summarizes the major classifications of deposit balances as of the dates indicated: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, |
​ | ​ | 2024 |  | 2023 | ​
(dollars in thousands) | ​ | ​ | ​
Noninterest-bearing deposits | ​ | $ | 100,747 | ​ | $ | 116,922 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest-bearing deposits: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest-bearing checking | ​ | ​ | 25,487 | ​ | ​ | 28,571 | ​
Money Market | ​ |  | 81,513 | ​ |  | 26,836 | ​
Savings | ​ |  | 75,444 | ​ |  | 93,104 | ​
Time deposits, $250,000 or more | ​ |  | 1,133 | ​ | ​ | 2,501 | ​
Time deposits below $250,000 | ​ |  | 24,865 | ​ | ​ | 32,133 | ​
Total interest- bearing deposits | ​ | ​ | 208,442 | ​ | ​ | 183,145 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total Deposits | ​ | $ | 309,189 | ​ | $ | 300,067 | ​
​ Interest expense on deposits for the years ended December 31, 2024 and 2023 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023 |
(dollars in thousands) | ​ | ​ | ​
Interest-bearing checking | ​ | $ | 50 | ​ | $ | 10 | ​
Money Market | ​ |  | 2,154 | ​ |  | 76 | ​
Savings | ​ |  | 42 | ​ |  | 89 | ​
Time deposits, $250,000 or more | ​ |  | 15 | ​ |  | 47 | ​
Time deposits below $250,000 | ​ | ​ | 272 | ​ |  | 291 | ​
Total Interest Expense | ​ | $ | 2,533 | ​ | $ | 513 | ​
​ The Bank recognized $0.2 million of fee income from deposits for the years ended December 31, 2024 and 2023. At December 31, 2024, the scheduled maturities of time deposits are approximately as follows: ​
​ | ​ | ​ | ​
(dollars in thousands) | ​ | Amount
Maturing in: | ​ | ​ | ​
2025 | ​ | $ | 13,711
2026 | ​ |  | 6,272
2027 | ​ |  | 1,633
2028 | ​ |  | 1,829
2029 | ​ |  | 2,318
2030 and thereafter | ​ |  | 235
Total Time Deposits | ​ | $ | 25,998
​ Deposit balances of executive officers and directors and their affiliated interests totaled approximately $1.7 million and $2.4 million at December 31, 2024 and 2023, respectively. The Bank had no brokered deposits at December 31, 2024 and 2023. The aggregate amount of time deposit accounts that equal or exceed the $250,000 insured limit totaled $1.1 million and $2.5 million at December 31, 2024 and 2023, respectively. ​
​ | ​ | ​ | ​
(dollars in thousands) | ​ | Amount
Maturing in: | ​ | ​ | ​
Three months or less | ​ | $ | —
Over three months through six months | ​ |  | —
Over six months through twelve months | ​ |  | 552
Over twelve months | ​ |  | 581
Total Time Deposits of $250,000 or More | ​ | $ | 1,133
​

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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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