Annual report pursuant to Section 13 and 15(d)

DEPOSITS

v3.23.4
DEPOSITS
 12 Months Ended
Dec. 31, 2022
Deposits [Abstract]  
DEPOSITS
Note 10
DEPOSITS
The composition of the Company’s
 
interest bearing deposits at December 31 was as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Dollars in Thousands)
2022
2021
NOW Accounts
$
1,290,494
$
1,070,154
Money Market Accounts
267,383
274,611
Savings Deposits
637,374
599,811
Time Deposits
90,446
99,374
Total Interest Bearing
 
Deposits
$
2,285,697
$
2,043,950
At December 31, 2022 and 2021, $
1.1
 
million in overdrawn deposit accounts were reclassified as loans.
The amount of time deposits that meet or exceed the FDIC insurance limit of $250,000
 
totaled $
11.1
 
million and $
10.0
 
million at
December 31, 2022 and 2021, respectively.
At December 31, the scheduled maturities of time deposits were as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Dollars in Thousands)
2022
2023
$
69,221
2024
10,284
2025
5,122
2026
1,737
2027
4,082
Total
$
90,446
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense on deposits for the three years ended December 31, was as follows:
(Dollars in Thousands)
2022
2021
2020
NOW Accounts
$
2,800
$
294
$
930
Money Market Accounts
203
134
223
Savings Deposits
309
263
207
Time Deposits < $250,000
129
145
179
Time Deposits > $250,000
3
3
9
Total Interest Expense
$
3,444
$
839
$
1,548