NOTE 5 — Deposits

As of December 31, 2019, deposits of $680,620, was comprised of core deposit relationships of $660,874 and certificates of deposit of $19,746. Core deposits are defined as all deposits except certificates of deposits which include demand, savings, NOW, and money market deposit accounts. Our noninterest bearing demand deposits are presented as demand deposits and all core interest bearing deposits are presented as savings, NOW and money market deposits on the Consolidated Statements of Financial Condition. Certificates of deposit are presented as time deposits on the Consolidated Statements of Financial Condition.

The contractual maturities of certificates of deposit as of December 31, 2019, are as follows:


	Total
2020	$	17,866
2021		1,880
Total	$	19,746

As of December 31, 2019 and 2018, certificates of deposits greater than $250 were $15,543 and $15,281, respectively.

Deposits from principal officers, directors, and their affiliates at year-end 2019 and 2018 were $9,869 and $6,191, respectively.