Deposits

9 Months Ended

Sep. 30, 2023

Deposits

Deposits

5.    Deposits

Deposits balances are summarized as follows:

	September 30,		December 31,
	2023		2022
Non-interest bearing demand deposits	$	276,881	$	283,563
Interest bearing accounts:
NOW		138,200		156,285
Savings		154,129		176,916
Money market		210,212		296,787
Time certificates of deposit		302,878		216,382
Total interest bearing accounts		805,419		846,370
Total deposits	$	1,082,300	$	1,129,933

The Company has established a relationship to participate in a reciprocal deposit program with other financial institutions. The reciprocal deposit program provides access to FDIC-insured deposit products in aggregate amounts exceeding the current limits for depositors. At September 30, 2023 and December 31, 2022, total reciprocal deposits were $31,187 and $10,023. Included in time certificates of deposit at September 30, 2023 and December 31, 2022 were reciprocal deposits totaling $28,772 and $10,023, respectively, with original maturities of one to three years. Reciprocal deposits included in money market accounts totaled $2,415 and $0 at September 30, 2023 and December 31, 2022, respectively.

Time deposits included brokered deposits of $12,000 and $34,041 at September 30, 2023 and December 31, 2022, respectively. Time certificates of deposit in denominations of $250 or greater were $80,369 and $38,897 as of September 30, 2023 and December 31, 2022, respectively.

Contractual maturities of time certificates of deposit at September 30, 2023 are summarized below:

	September 30,
	2023
Within 1 year	$	292,161
1 – 2 years		6,822
2 – 3 years		1,866
3 – 4 years		521
4 – 5 years		1,508
Total	$	302,878