Deposits

12 Months Ended

Dec. 31, 2020

Deposits: At December 31, 2020, the scheduled maturities of certificates of deposit are as follows:


(In Thousands)
2021			$128,970
2022			37,347
2023			6,890
2024			495
2025			135
Thereafter			1,794
Total			$175,631

The Company offers the Certificate of Deposit Account Registry Service® (CDARS®) and Insured Cash Sweep® (ICS®) service as a member of Promontory Interfinancial Network, LLCSM (Network). When a Network member places a deposit using CDARS, that certificate of deposit is divided into amounts under the standard FDIC insurance maximum ($250,000) and is allocated among member banks, making the large deposit eligible for FDIC insurance. The ICS service allows the Company to place customers’ funds through the Network into demand deposit accounts and/or money market accounts at FDIC-insured banks that are also members of the ICS Network in increments below the standard FDIC insurance maximum ($250,000) so that both principal and interest are eligible for FDIC insurance. In addition to customer deposit placement, the CDARS and ICS service also allows placement of the Bank's own investment dollars. The Company had $9.4 million CDARS certificates of deposits and $86.5 million ICS deposits at December 31, 2020 and $1.2 million CDARS certificates of deposits and $44.5 million ICS deposits at December 31, 2019.

At December 31, 2020 and 2019, the Company held $4.6 million and $1.6 million, in deposits for related parties, including directors, executive officers, and their affiliates.

Interest expense: Interest expense on deposits is presented below:


(In Thousands)	2020	2019	2018
Interest-bearing demand accounts	$108	$182	$8
Money market accounts	1,222	1,435	855
Savings accounts	717	1,083	744
Certificates of deposit $250,000 and greater	1,823	1,310	472
Certificates of deposit less than $250,000	1,409	951	228
Total	$5,279	$4,961	$2,307