Deposits

6 Months Ended

Jun. 30, 2022

Deposits.

Deposits

10. Deposits

The major components of interest-bearing and noninterest-bearing deposits at June 30, 2022 and December 31, 2021 are summarized as follows:

At the period end	June 30, 2022		December 31, 2021
Interest-bearing deposits:
Money market accounts	$	592,989	$	588,245
Now accounts		752,397		851,086
Savings accounts		518,146		491,796
Time deposits less than $250		219,690		203,719
Time deposits $250 or more		80,503		90,795
Total interest-bearing deposits		2,163,725		2,225,641
Noninterest-bearing deposits		747,558		737,756
Total deposits	$	2,911,283	$	2,963,397

Total deposits decreased $52,114 from December 31, 2021 due primarily to outflows of public fund NOW accounts and reductions to high balance time deposits as these customers are typically more price-sensitive. Brokered deposits added during the three months ended June 30, 2022 totaled $25,317 and were used to offset a portion of the deposit outflows and lock-in then current interest rates, as our expectation is for interest rates to continue to increase throughout the remainder of 2022. Of the brokered deposits added during the current period, $11,400 are callable which gives the Bank the option to call the certificates of deposit after the initial three month term.