Deposits

12 Months Ended

Dec. 31, 2024

Deposits [Abstract]

Deposits

Deposits

A summary of deposit accounts with the corresponding weighted-average cost of funds at December 31, 2024 and 2023, are presented below (dollars in thousands):

	December 31, 2024				December 31, 2023
	Deposit Balance		Wtd. Avg Rate		Deposit Balance		Wtd. Avg Rate
Noninterest-bearing demand	$	130,095	—	%	$	124,134	—	%
Interest-bearing demand	142,126		0.34		168,346		0.75
Savings	61,252		0.10		69,461		0.07
Money market	206,067		3.60		154,044		1.39
Certificates	295,822		4.57		307,962		3.45
Escrow (1)	2,437		—		2,592		—
Total	$	837,799	2.63	%	$	826,539	1.64	%

(1)Escrow balances shown in “Noninterest-bearing deposits” on the Consolidated Balance Sheets.

Scheduled maturities of time deposits at December 31, 2024, are as follows (in thousands):

Year Ending December 31,	Amount
2025	$	274,317
2026	18,496
2027	1,379
2028	1,109
2029	521
Thereafter	—
	$	295,822

Savings, demand, and money market accounts have no contractual maturity. Certificates of deposit have maturities of 5 years or less.

The aggregate amount of time deposits in denominations of more than $250 thousand at December 31, 2024 and 2023, totaled $90.9 million and $88.3 million, respectively. Deposits in excess of $250 thousand are not federally insured. There were no money market brokered deposits outstanding at December 31, 2024 and $5.0 million at December 31, 2023.

Deposits from related parties held by the Company were $9.8 million and $3.6 million at December 31, 2024 and 2023, respectively.