DEPOSITS

12 Months Ended

Dec. 31, 2021

DEPOSITS

DEPOSITS

NOTE 5 — DEPOSITS

Major classifications of deposits at December 31, 2021 and 2020 consisted of:

(Dollars in thousands)	December 31,		December 31,
	2021		2020
Non-interest bearing demand	$	249,040	$	198,499
Interest bearing demand		395,033		330,253
Savings		260,804		214,908
Time certificates of deposits less than $250,000		158,914		177,652
Time certificates of deposits $250,000 or greater		13,030		15,029
Other time		1,148		1,147
Total deposits	$	1,077,969	$	937,488

Total deposits increased $140,481,000 to $1,077,969,000 as of December 31, 2021 due to increases in non-interest bearing, interest bearing and savings deposits. The increase in deposits was the result of many different factors including the deposit of stimulus funds, PPP loan proceeds, a $73,000,000 increase in highly rate sensitive deposits and other normal fluctuations in deposits during 2021.

The following is a schedule reflecting classification and remaining maturities of time deposits at December 31, 2021:

(Dollars in thousands)

Year Ending
2022	$	98,618
2023		31,049
2024		25,252
2025		9,556
2026		8,589
Thereafter		28
Total time deposits	$	173,092