Note 11 - Deposits

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Deposit Liabilities Disclosures [Text Block]

N

OTE

1

1

Deposits

Deposits and their weighted average interest rates at

December 31, 2019

and

2018

are summarized as follows:

			201 9								2018
(Dollars in thousands)			Weighted Average Rate			Amount		Percent of Total			Weighted Average Rate			Amount		Percent of Total
Noninterest checking				0.00	%	$	183,350		27.2	%		0.00	%	$	163,500		26.2	%
Interest checking				0.13			96,341		14.3			0.10			88,715		14.3
Savings accounts				0.08			80,054		11.9			0.08			76,839		12.3
Money market accounts				0.65			187,517		27.8			0.56			181,374		29.1
							547,262		81.2						510,428		81.9
Certificates by rate:
0	-	0.99%					22,499		3.3						32,904		5.3
1	-	1.99%					38,097		5.7						47,627		7.6
2	-	2.99%					61,936		9.2						31,680		5.1
3	-	3.99%					4,076		0.6						713		0.1
Total certificates				1.84			126,608		18.8			1.32			112,924		18.1
Total deposits				0.56		$	673,870		100.0	%		0.43		$	623,352		100.0	%

At

December 31, 2019

and

2018,

the Company had

$215.8

million and

$182.0

million, respectively, of deposit accounts with balances at

$250,000

or more. At

December 31, 2019

and

2018,

the Company had

no

certificate accounts that had been acquired through a broker.

Certificates had the following maturities at

December 31, 2019

and

2018:

	201 9					2018
(Dollars in thousands)	Amount		Weighted Average Rate			Amount		Weighted Average Rate
Remaining term to maturity
1-6 months	$	43,447		1.88	%	$	39,004		1.23	%
7-12 months		39,074		1.63			36,711		1.29
13-36 months		41,753		2.00			33,941		1.46
Over 36 months		2,334		1.71			3,268		1.44
	$	126,608		1.84		$	112,924		1.32

At

December 31, 2019

and

2018,

the Company had pledged mortgage-backed and agency securities with an amortized cost of approximately

$14.9

million and

$17.9

million, respectively, as collateral for certain deposits. Interest expense on deposits is summarized as follows for the years ended

December 31, 2019,

2018

and

2017:

(Dollars in thousands)	2019		2018		2017
Checking accounts	$	103		62		77
Savings accounts		63		61		63
Money market accounts		1,171		865		560
Certificates		1,995		1,243		770
	$	3,332		2,231		1,470