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DEPOSITS IN AND FEDERAL FUNDS SOLD TO BANKS	12 Months Ended
Dec. 31, 2023
Deposits In And Federal Funds Sold To Banks
DEPOSITS IN AND FEDERAL FUNDS SOLD TO BANKS	NOTE 4 DEPOSITS IN AND FEDERAL FUNDS SOLD TO BANKS The Bank had federal funds sold and interest-bearing cash on deposit with the Federal Reserve Bank of Richmond (the Federal Reserve Bank) and other commercial banks amounting to $50.4 million and $47.7 million as of December 31, 2023 and 2022, respectively. Deposit amounts at other commercial banks may, at times, exceed federally insured limits. The Bank has a total of $30.0 million in unsecured fed funds lines of credit facilities from three correspondent banks that were available as of December 31, 2023 and 2022, respectively. Of these total commitments, all were available as of December 31, 2023 and 2022. As a condition for $5.0 million of one of the unsecured fed funds lines of credit, the Bank maintains a minimum deposit balance of $250,000 with this correspondent bank. As of December 31, 2023 and 2022, the Bank was in compliance with this requirement.

DEPOSITS IN AND FEDERAL FUNDS SOLD TO BANKS

12 Months Ended

Dec. 31, 2023

Deposits In And Federal Funds Sold To Banks

DEPOSITS IN AND FEDERAL FUNDS SOLD TO BANKS

NOTE 4 DEPOSITS IN AND FEDERAL FUNDS SOLD TO BANKS

The Bank had federal funds sold and interest-bearing cash on deposit with the Federal Reserve Bank of Richmond (the Federal Reserve Bank) and other commercial banks amounting to $50.4 million and $47.7 million as of December 31, 2023 and 2022, respectively. Deposit amounts at other commercial banks may, at times, exceed federally insured limits.

The Bank has a total of $30.0 million in unsecured fed funds lines of credit facilities from three correspondent banks that were available as of December 31, 2023 and 2022, respectively. Of these total commitments, all were available as of December 31, 2023 and 2022. As a condition for $5.0 million of one of the unsecured fed funds lines of credit, the Bank maintains a minimum deposit balance of $250,000 with this correspondent bank. As of December 31, 2023 and 2022, the Bank was in compliance with this requirement.