Deposits

12 Months Ended

Dec. 31, 2023

Deposits

Deposits

6.    Deposits

Deposits balances are summarized as follows:

	December 31,		December 31,
	2023		2022
Non-interest bearing demand deposits	$	249,793	$	283,563
Interest bearing accounts:
NOW		125,628		156,285
Savings		146,172		176,916
Money market		190,864		296,787
Time certificates of deposit		318,046		216,382
Total interest bearing accounts		780,710		846,370
Total deposits	$	1,030,503	$	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 December 31, 2023 and 2022, total reciprocal deposits were $40,009 and $10,023, respectively. Included in time certificates of deposit at December 31, 2023 and 2022 were reciprocal deposits totaling $23,357 and $10,023, respectively, with original maturities of one to three years. Reciprocal deposits included in money market accounts totaled $16,652 and $0 at December 31, 2023 and 2022, respectively.

Time deposits included brokered deposits of $0 and $34,041 at December 31, 2023 and 2022, respectively. Time certificates of deposit in denominations of $250 or greater were $100,063 and $38,897 as of December 31, 2023 and 2022, respectively.

Contractual maturities of time certificates of deposit at December 31, 2023 are summarized below:

	December 31,
	2023
Within 1 year	$	291,212
1 – 2 years		23,124
2 – 3 years		1,735
3 – 4 years		450
4 – 5 years		1,525
Total	$	318,046