Annual report pursuant to Section 13 and 15(d)

Note 7 - Deposits

v3.24.1
Note 7 - Deposits
12 Months Ended
Dec. 31, 2023
Notes to Financial Statements  
Deposit Liabilities Disclosures [Text Block]

Note 7: Deposits

 

As of December 31, 2023, for years below ended December 31, the scheduled maturities of time deposits are as follows:

 

Years Ended

 

Amount

 
    (Dollars in thousands)  

2024

  $ 46,637  

2025

    10,080  

2026

    3,865  

2027

    1,696  

2028 and beyond

    4,977  

Total

  $ 67,255  

 

In the normal course of business, deposit accounts are held by directors and officers of the Bank (related parties). The terms for these accounts, including interest rates, fees, and other attributes, are similar to those prevailing for comparable transactions with other customers and do not involve more than the normal level of risk associated with deposit accounts. At December 31, 2023 and 2022, total deposits held by directors and officers of the Company and the Bank were $739,000 and $724,000, respectively.