Note 8. Deposits

The following table summarizes the major classifications of deposit balances as of the dates indicated:


	December 31,
	2020		2019
(dollars in thousands)
Noninterest-bearing deposits	$	132,626	$	107,158

Interest-bearing deposits:
Interest-bearing checking		32,601		32,171
Money Market		19,077		17,253
Savings		97,036		82,845
Time deposits, $100,000 or more		28,270		34,736
Time deposits below $100,000		40,010		47,277
Total interest- bearing deposits		216,994		214,282

Total Deposits	$	349,620	$	321,440

Interest expense on deposits for the years ended December 31, 2020 and 2019 is as follows:


	2020		2019
(dollars in thousands)
Interest-bearing checking	$	9	$	8
Money Market		9		10
Savings		60		57
Time deposits, $100,000 or more		440		622
Time deposits below $100,000		525		652
Total Interest Expense	$	1,043	$	1,349

The Bank recognized $0.2 million and $0.3 million of fee income from deposits for the years ended December 31, 2020 and 2019.

At December 31, 2020, the scheduled maturities of time deposits are approximately as follows:


(dollars in thousands)	Amount
Maturing in:
2021	$	37,252
2022		10,722
2023		5,743
2024		9,039
2025		4,172
2026 and thereafter		1,352
Total Time Deposits	$	68,280

Deposit balances of executive officers and directors and their affiliated interests totaled approximately $2.8 million and $1.6 million at December 31, 2020 and 2019, respectively.

The Bank had no brokered deposits at December 31, 2020 and 2019.