Note 9 - Deposits

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Deposit Liabilities Disclosures [Text Block]

Note 9. Deposits

The following table presents the balance of deposits held, by category, and the related weighted average stated interest rate as of

December 

31,

 

2019

and

2018.

	December 31,
	2019					2018
(In thousands)	Balance		Weighted Avg. Stated Interest Rate			Balance		Weighted Avg. Stated Interest Rate
Non-interest bearing	$	88,135	$	-		$	84,471		-
Interest bearing:
NOW		26,864		0.08	%		26,100		0.08	%
Savings		64,020		0.76	%		81,912		0.72	%
Money market		99,115		1.85	%		85,197		1.82	%
Certificates of deposit, less than $250,000		193,942		2.19	%		203,683		1.83	%
Certificates of deposit, $250,000 or greater		67,550		2.48	%		78,318		2.20	%
Brokered deposits		229,909		2.01	%		183,600		2.29	%
Interest bearing, Total		681,400		1.89	%		658,810		1.79	%
Total Deposits	$	769,535		1.68	%	$	743,281		1.59	%

The following table presents interest expense, by deposit category, and the related weighted average effective interest rate for each of the years in the

three

-year period ended

December 

31,

 

2019.

(In thousands)	Year ended December 31,
	2019					2018					2017
	Interest Expense		Weighted Avg. Effective Interest Rate			Interest Expense		Weighted Avg. Effective Interest Rate			Interest Expense		Weighted Avg. Effective Interest Rate
NOW	$	18		0.07	%	$	15		0.06	%	$	7		0.03	%
Savings		429		0.63	%		995		0.85	%		1,160		0.81	%
Money market		2,048		2.00	%		549		1.34	%		5		0.04	%
Certificates of deposit, less than $250,000		4,986		2.38	%		3,048		1.57	%		1,875		1.05	%
Certificates of deposit, $250,000 or greater		1,546		2.01	%		1,226		1.68	%		912		1.46	%
Brokered deposits		4,958		2.47	%		3,191		1.91	%		989		1.24	%
	$	13,985		2.05	%	$	9,024		1.46	%	$	4,948		0.99	%

As of

December 

31,

 

2019,

contractual maturities of Certificates of Deposit (“CDs”) and brokered deposits are summarized as follows:

(In thousands)	CDs less than $250,000		CDs $250,000 or greater		Brokered Deposits		Total
1 year or less	$	177,878	$	64,158	$	206,707	$	448,743
More than 1 year through 2 years		12,270		2,042		17,605		31,917
More than 2 years through 3 years		2,530		765		5,347		8,642
More than 3 years through 4 years		387		585		-		972
More than 4 years through 5 years		877		-		250		1,127
	$	193,942	$	67,550	$	229,909	$	491,401