Note 7 - Deposits

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Deposit Liabilities Disclosures [Text Block]

Note 7. DEPOSITS

The following table summarizes deposits by major category at December 31, 2022 and 2021: 

	December 31,
(in thousands)	2022		2021
Demand (non-interest bearing)	$	305,850	$	320,089
Interest-bearing:
Interest-bearing demand		808,497		857,849
Savings		148,426		134,224
Time ($250,000 and over)		24,902		26,531
Other time		132,972		116,335
Total interest-bearing		1,114,797		1,134,939
Total deposits	$	1,420,647	$	1,455,028

The aggregate amount of deposits reclassified as loans was $124 thousand at December 31, 2022 and $83 thousand at December 31, 2021. Management evaluates transaction accounts that are overdrawn for collectability as part of its evaluation for credit losses. During 2022 and 2021, no deposits were received on terms other than those available in the normal course of business.

The following table summarizes scheduled maturities of time deposits, including certificates of deposit and individual retirement accounts, at December 31, 2022:

	$250,000		Other
(in thousands)	and Over		Time Deposits		Total
2023	$	21,895	$	94,644	$	116,539
2024		3,007		29,767		32,774
2025		-		4,582		4,582
2026		-		2,050		2,050
2027		-		1,929		1,929
Total	$	24,902	$	132,972	$	157,874

Investment securities with a carrying value of $357.2 million at December 31, 2022 and $410.5 million at December 31, 2021 were pledged to collateralize certain municipal deposits. In addition, FNCB had outstanding letters of credit with the FHLB of Pittsburgh to secure municipal deposits of $47.5 million and $7.5 million at December 31, 2022 and 2021, respectively.