2021 Annual Report

Note 7: Intangible Assets The following table presents a summary of intangible assets at December 31, 2021 and 2020:

December 31,

(dollars in thousands) 2020 Core Deposit Intangible . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,093 $ 1,093 Favorable Lease . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 445 445 Subtotal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,538 1,538 Accumulated Amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,059) (868) Totals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 479 $ 670 Amortization expense of intangible assets was $191,000 for the years ended December 31, 2021, 2020 and 2019. The following table presents the estimated future amortization of the core deposit intangible and favorable lease asset for the next five years and thereafter. The projections of amortization expense are based on existing asset balances as of December 31, 2021. 2021

Core Deposit Favorable Intangible Lease

(dollars in thousands)

2022 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2024 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2025 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2026 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Thereafter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Totals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $

157 $

34 34 34 34 34 87

65 — — — —

222 $

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Note 8: Deposits

The following table presents the composition of deposits at December 31, 2021 and 2020:

December 31,

(dollars in thousands) 2020 Transaction Deposits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,419,873 $ 1,038,193 Savings and Money Market Deposits . . . . . . . . . . . . . . . . . . . . . . . . 863,567 657,617 Time Deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 293,474 353,543 Brokered Deposits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 369,323 452,283 Totals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,946,237 $ 2,501,636 Brokered deposits contain brokered transaction and money market accounts of $131.2 million and $159.7 million as of December 31, 2021 and 2020, respectively. 2021

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