Note 7 - Deposits

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Deposit Liabilities Disclosures [Text Block]

Note 7 - Deposits

The aggregate amount of time deposits that meet or exceed the FDIC insured limit, currently $250,000, at December 31, 2021 and 2020, was $75.1 million and $91.7 million, respectively. Deposits and weighted-average interest rates at the dates indicated are as follows:

	December 31, 2021					December 31, 2020
	Amount		Weighted- Average Interest Rate			Amount		Weighted- Average Interest Rate
			(Dollars in thousands)
Noninterest-bearing demand deposits	$	343,932		—	%	$	274,930		—	%
Interest-bearing demand deposits		196,970		0.01	%		156,241		0.01	%
Money market accounts		597,815		0.21	%		429,143		0.31	%
Savings accounts		194,620		0.05	%		164,434		0.17	%
Certificates of deposit		247,243		0.62	%		308,769		1.00	%
	$	1,580,580		0.19	%	$	1,333,517		0.36	%

Maturities of certificates at the dates indicated are as follows:

	December 31, 2021
	(In thousands)
Within one year or less	$	153,472
After one year through two years		54,970
After two years through three years		17,620
After three years through four years		14,358
After four years through five years		6,823
After five years		—
	$	247,243

Brokered certificates of deposits of $65.7 million and $89.6 million are included in the December 31, 2021 and 2020 certificate of deposits totals above, respectively.

Deposits at December 31, 2021 and 2020, include $134.1 million and $80.9 million, respectively, in public fund deposits. Investment securities with a carrying value of $67.9 million and $48.1 million were pledged as collateral for these deposits at December 31, 2021 and 2020, respectively. This exceeds the minimum collateral requirements established by the Washington Public Deposit Protection Commission.

Interest on deposits by type for the periods shown was as follows:

	For the Year Ended December 31,
	2021		2020
	(In thousands)
Demand deposits	$	43	$	37
Money market accounts		1,165		1,446
Savings accounts		128		843
Certificates of deposit		2,060		4,337
	$	3,396	$	6,663