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Deposits

12 Months Ended

Dec. 31, 2020

DEPOSIT ACCOUNTS

Deposits

Deposits

The following table presents the composition of the Company’s deposits as of December 31, 2020 and 2019:

($ in thousands)						December 31,
						2020						2019
Deposits:
Noninterest-bearing demand						$	16,298,301					$	11,080,036
Interest-bearing checking						6,142,193						5,200,755
Money market						10,740,667						8,711,964
Savings						2,681,242						2,117,196
Time deposits:
Less than $100,000						999,664						1,993,950
$100,000 or greater						8,000,685						8,220,358
Total deposits						$	44,862,752					$	37,324,259

The aggregate amount of domestic time deposits that meet or exceed the current Federal Deposit Insurance Corporation (“FDIC”) insurance limit of $250,000 was $5.78 billion and $5.44 billion as of December 31, 2020 and 2019, respectively. As of December 31, 2020 and 2019, the aggregate amount of foreign office time deposits, including both Hong Kong and China that meet or exceed the current FDIC insurance limit of $250,000 was $823.2 million and $1.19 billion, respectively.

As of December 31, 2020, $696.1 million of interest-bearing demand deposits and $840.7 million of time deposits were held by the Company’s branch in Hong Kong and subsidiary bank in China. In comparison, $493.4 million of interest-bearing demand deposits and $1.21 billion of time deposits were held by the Company’s branch in Hong Kong and subsidiary bank in China as of December 31, 2019.

The following table presents the scheduled maturities of time deposits for the five years succeeding December 31, 2020 and thereafter:

($ in thousands)						Amount
2021						$	8,608,547
2022						332,809
2023						41,178
2024						11,085
2025						6,715
Thereafter						15
Total						$	9,000,349

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- References

No definition available.

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- Definition

The entire disclosure for deposit liabilities including data and tables. It may include a description of the entity's deposit liabilities, the aggregate amount of time deposits (including certificates of deposit) in denominations of $100,000 or more at the balance sheet date; the aggregate amount of any demand deposits that have been reclassified as loan balances, such as overdrafts, at the balance sheet date; deposits that are received on terms other than those in the normal course of business, the amount of accrued interest on deposit liabilities; securities, mortgage loans or other financial instruments that serve as collateral for deposits; for time deposits having a remaining term of more than one year, the aggregate amount of maturities for each of the five years following the balance sheet date; and the weighted average interest rate for all deposit liabilities held by the entity.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 405
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=116652737&loc=d3e64164-112818

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.12)
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

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