Deposits

9 Months Ended

Sep. 30, 2024

Deposits.

Deposits

5.    Deposits

Deposits balances are summarized as follows:

	September 30,		December 31,
	2024		2023
Non-interest bearing demand deposits	$	256,864	$	249,793
Interest bearing accounts:
NOW(1)		122,985		125,628
Savings		137,031		146,172
Money market		185,811		190,864
Time certificates of deposit		343,482		318,046
Total interest bearing accounts		789,309		780,710
Total deposits	$	1,046,173	$	1,030,503

(1) Negotiable order of withdrawal

The Company participates in a reciprocal deposit program with other financial institutions that provides access to Federal Deposit Insurance Corporation (“FDIC”) insurance deposit products in aggregate amounts exceeding the current limits for depositors. At September 30, 2024 and December 31, 2023, total reciprocal deposits were $42,918 and $40,009, respectively. Included in time certificates of deposit at September 30, 2024 and December 31, 2023 were reciprocal deposits totaling $27,383 and $23,357, respectively, with original maturities of one to three years. Reciprocal deposits included in money market accounts totaled $15,535 and $16,652 at September 30, 2024 and December 31, 2023, respectively.

The Company had no brokered deposits at either September 30, 2024 or December 31, 2023. Time certificates of deposit in denominations of $250 or greater were $95,882 and $100,063 as of September 30, 2024 and December 31, 2023, respectively.

Contractual maturities of time certificates of deposit at September 30, 2024 are summarized below:

	September 30,
	2024
Within 1 year	$	324,739
1 – 2 years		15,230
2 – 3 years		591
3 – 4 years		1,000
4 – 5 years		1,922
Total	$	343,482