Deposits

3 Months Ended

Mar. 31, 2023

Deposits [Abstract]

Deposits

Note 12 – Deposits

The following table summarizes deposits as of March 31, 2023 and December 31, 2022.

(dollars in thousands)	March 31, 2023			December 31, 2022
Non-Interest-bearing deposits:	$	468,554	30%	$	506,613	32%
Interest-bearing deposits:
Demand		362,585	23%		327,685	21%
Money Market		339,163	21%		365,192	23%
Savings deposits		242,441	15%		250,720	16%
Time deposits- retail		117,461	7%		120,523	8%
Time deposits- brokered		61,081	4%		—	0%
Total Deposits	$	1,591,285	100%	$	1,570,733	100%

The following table summarizes the percentage of deposits that are insured by deposit insurance or otherwise fully collateralized by securities compared to uninsured deposits as of March 31, 2023 and December 31, 2022.

	March 31, 2023			December 31, 2022
(dollars in thousands)		Balance	Percent		Balance	Percent
Insured/collateralized deposits	$	1,125,896	71%	$	1,118,190	71%
Uninsured deposits		465,389	29%		452,543	29%
	$	1,591,285	100%	$	1,570,733	100%

The following table summarizes the percentage of deposit balances from retail customers compared to business customers as March 31, 2023 and December 31, 2022.

	March 31, 2023			December 31, 2022
(dollars in thousands)		Balance	Percent		Balance	Percent
Retail deposits	$	820,063	52%	$	855,014	54%
Business deposits		771,222	48%		715,719	46%
	$	1,591,285	100%	$	1,570,733	100%

Deposit outflows experienced in the latter half of 2022 and in January 2023 were due to the competitive pricing landscape and inflationary spending.  Changes in deposit levels were not directly related to recent market disruptions.