Note 8 - Deposits

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Deposit Liabilities Disclosures [Text Block]

8. Deposits

The following table summarizes the Corporation’s deposits as of December 31:

(Dollar amounts in thousands)	2021								2020
	Weighted								Weighted
Type of accounts	average rate			Amount		Percent			average rate			Amount		Percent
Non-interest bearing deposits		—		$	221,993		24.2	%		—		$	193,752		21.7	%
Interest bearing demand deposits		0.13	%		545,846		59.4	%		0.42	%		511,928		57.3	%
Time deposits		1.78	%		150,657		16.4	%		2.03	%		187,947		21.0	%
Total		0.37	%	$	918,496		100.0	%		0.67	%	$	893,627		100.0	%

Scheduled maturities of time deposits for the next five years and thereafter are as follows:

(Dollar amounts in thousands)	Amount		Percent
2022	$	48,038		31.9	%
2023		49,739		33.0	%
2024		36,735		24.4	%
2025		6,629		4.4	%
2026		6,029		4.0	%
Thereafter		3,487		2.3	%
Total	$	150,657		100.0	%

The Corporation had a total of $42.2 million and $58.7 million in time deposits of $250,000 or more at December 31, 2021 and 2020, respectively. Scheduled maturities of time deposits of $250,000 or more at December 31, 2021 are as follows:

(Dollar amounts in thousands)	Amount
Three months or less	$	6,468
Over three months to six months		1,182
Over six months to twelve months		7,029
Over twelve months		27,527
Total	$	42,206