Deposits (Tables)

12 Months Ended

Dec. 31, 2023

Deposits [Abstract]

Composition of Deposits

The composition of deposits is as follows:

	December 31, 2023		December 31, 2022
	(in thousands)
Non-interest bearing checking	$	78,476	$	92,465
Interest bearing checking		28,899		32,514
Money market		88,687		121,215
Statement savings		46,473		61,969
Certificates of deposit		161,148		79,558
Total(1)	$	403,683	$	387,721

(1) There were no brokered deposits at December 31, 2023 or December 31, 2022.

Interest Expense on Deposits

Interest expense on deposits is summarized as follows:

	Years ended December 31,
	2023		2022
Interest bearing checking	$	272	$	76
Money market		2,029		565
Statement savings		25		33
Certificates of deposit		4,020		442
Total	$	6,346	$	1,116

Scheduled Maturities of Certificates of Deposit

The scheduled maturities of certificates of deposit are as follows:

	(in thousands)
2023	$	127,907
2024		20,710
2025		12,218
2026		236
2027		77
Thereafter		—
Total	$	161,148