DEPOSITS

12 Months Ended

Dec. 31, 2024

DEPOSITS

DEPOSITS

NOTE 5 — DEPOSITS

Major classifications of deposits at December 31, 2024 and 2023 consisted of:

(Dollars in thousands)	December 31,		December 31,
	2024		2023
Non-interest bearing demand	$	203,583	$	198,569
Interest bearing demand		278,869		275,472
Savings		195,310		212,280
Time certificates of deposits less than $250,000		327,236		259,841
Time certificates of deposits $250,000 or greater		39,782		33,185
Other time		1,100		1,092
Total deposits	$	1,045,880	$	980,439

Total deposits increased $65,441,000 to $1,045,880,000 as of December 31, 2024 due to increases in non-interest bearing demand accounts, interest bearing demand accounts and time deposits while savings accounts decreased. The overall increase in deposits was mainly the result of a $74,000,000 increase in time deposits. As of December 31, 2024 the Corporation had $99,149,000 in brokered deposits (CDs) as compared to $65,250,000 at December 31, 2023, an increase of $33,899,000. The balance of retail CDs increased $40,093,000 from $227,776,000 at December 31, 2023 to $267,869,000 at December 31, 2024.

The following is a schedule reflecting classification and remaining maturities of time deposits at December 31, 2024:

(Dollars in thousands)

Year Ending
2025	$	245,238
2026		71,863
2027		25,127
2028		19,223
2029		1,167
Thereafter		5,500
Total time deposits	$	368,118