DEPOSITS

12 Months Ended

Dec. 31, 2022

DEPOSITS

DEPOSITS

NOTE 5 — DEPOSITS

Major classifications of deposits at December 31, 2022 and 2021 consisted of:

(Dollars in thousands)	December 31,		December 31,
	2022		2021
Non-interest bearing demand	$	231,754	$	249,040
Interest bearing demand		335,559		395,033
Savings		260,086		260,804
Time certificates of deposits less than $250,000		151,575		158,914
Time certificates of deposits $250,000 or greater		13,400		13,030
Other time		1,125		1,148
Total deposits	$	993,499	$	1,077,969

Total deposits decreased $84,470,000 to $993,499,000 as of December 31, 2022 due to decreases in non-interest bearing, interest bearing, savings and time deposits. The decrease in deposits was mainly the result of a $70,297,000 decrease in municipal deposits and other normal fluctuations in deposits during 2022. As of December 31, 2022 and 2021 the Corporation had $20,000,000 in brokered deposits (CDs).

The following is a schedule reflecting classification and remaining maturities of time deposits at December 31, 2022:

(Dollars in thousands)

Year Ending
2023	$	99,132
2024		24,523
2025		30,988
2026		7,390
2027		4,067
Total time deposits	$	166,100