v3.25.4
DEPOSITS
12 Months Ended
Dec. 31, 2025
Deposit Assets [Abstract]  
DEPOSITS

 

6.DEPOSITS

 

Deposit accounts, by type, are summarized as follows for the periods indicated:

 

                             
   At December 31, 
   2025   % of Total Deposits   2024   % of Total Deposits 
   (Dollars in thousands) 
Demand and interest-bearing checking:                    
Interest-bearing checking accounts  $174,227    7.4%  $150,348    6.7%
Demand deposit accounts   594,516    25.2%   565,620    25.0%
Savings:                    
Regular savings accounts   186,597    7.9%   181,618    8.0%
Money market accounts   715,620    30.3%   661,478    29.2%
Total core deposits   1,670,960    70.8%   1,559,064    68.9%
Time deposits   689,948    29.2%   703,583    31.1%
Total deposits  $2,360,908    100.0%  $2,262,647    100.0%

 

There were $1.7 million in brokered deposits on the balance sheet at December 31, 2024 reported within time deposits. There were no brokered deposits on the balance sheet at December 31, 2025.

 

Time deposits greater than $250,000, which represent those exceeding the fully-insured FDIC limitation, totaled $226.7 million at December 31, 2025. Interest expense on time deposits greater than $250,000 totaled $7.4 million and $9.1 million for the years ended December 31, 2025 and December 31, 2024, respectively.

 

The scheduled maturities of time deposits for the periods indicated are as follows:

 

                   
    At December 31, 
    2025   2024 
    (Dollars in thousands) 
          
2025   $    694,916 
2026    678,104    5,186 
2027    10,063    1,217 
2028    600    2,129 
2029    594    135 
2030    587     
Total time deposits   $689,948   $703,583 

 

Interest expense on deposits for the years ended December 31, 2025, 2024 and 2023 is summarized as follows:

 

                   
   Years Ended December 31, 
   2025   2024   2023 
   (Dollars in thousands) 
     
Savings accounts  $180   $166   $181 
Money market accounts   15,242    12,242    9,529 
Time deposits   25,593    28,806    15,898 
Interest-bearing accounts   1,497    1,022    1,041 
Total  $42,512   $42,236   $26,649 

 

Cash paid for interest on deposits totaled $42.6 million, $42.2 million and $26.4 million for years ended December 31, 2025, 2024 and 2023, respectively.