Note 11 - Deposits

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Deposit Liabilities Disclosures [Text Block]

NOTE 11 Deposits

Deposits and their weighted average interest rates at December 31, 2021 and 2020 are summarized as follows:

	2021								2020
(Dollars in thousands)	Weighted Average Rate			Amount		Percent of Total			Weighted Average Rate			Amount		Percent of Total
Noninterest checking		0.00	%	$	344,404		36.2	%		0.00	%	$	239,587		30.1	%
Interest checking		0.12			151,476		15.9			0.12			138,709		17.4
Savings accounts		0.06			119,517		12.6			0.06			100,209		12.6
Money market accounts		0.21			249,089		26.2			0.25			214,300		27.0
					864,486		90.9						692,805		87.1
Certificates by rate:
0-0.99%					74,481		7.8						56,001		7.0
1-1.99%					4,357		0.5						20,613		2.6
2-2.99%					6,316		0.7						21,973		2.8
3-3.99%					1,026		0.1						3,812		0.5
Total certificates		0.53			86,180		9.1			1.14			102,399		12.9
Total deposits		0.13		$	950,666		100.0	%		0.25		$	795,204		100.0	%

At December 31, 2021 and 2020, the Company had $393.7 million and $269.3 million, respectively, of deposit accounts with balances of $250,000 or more and had no certificate accounts acquired through a broker.

Certificates had the following maturities at December 31, 2021 and 2020:

	2021					2020
(Dollars in thousands)	Amount		Weighted Average Rate			Amount		Weighted Average Rate
Remaining term to maturity
1-6 months	$	35,007		0.68	%	$	37,165		1.24	%
7-12 months		27,280		0.40			39,063		0.97
13-36 months		21,769		0.46			23,604		1.25
Over 36 months		2,124		0.66			2,567		1.21
	$	86,180		0.53		$	102,399		1.14

At December 31, 2021 and 2020, the Company had pledged mortgage loans and mortgage-backed and related securities with an amortized cost of approximately $33.2 million and $29.8 million, respectively, as collateral for certain deposits.

Interest expense on deposits is summarized as follows for the years ended December 31, 2021 and 2020:

(Dollars in thousands)	2021		2020
Checking accounts	$	182		151
Savings accounts		69		65
Money market accounts		557		840
Certificate accounts		745		1,795
	$	1,553		2,851