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Deposits

6 Months Ended

Jun. 30, 2019

Disclosure Text Block

Deposits

Note 16 – Deposits

Total interest bearing deposits as of the end of the periods presented consisted of:

(In thousands)		June 30, 2019		December 31, 2018
Savings accounts		$	10,010,003	$	9,722,824
NOW, money market and other interest bearing demand deposits			15,181,266		13,221,415
Total savings, NOW, money market and other interest bearing demand deposits			25,191,269		22,944,239
Certificates of deposit:
	Under $100,000		3,240,635		3,260,330
	$100,000 and over		4,672,629		4,356,434
Total certificates of deposit			7,913,264		7,616,764
Total interest bearing deposits		$	33,104,533	$	30,561,003

A summary of certificates of deposit by maturity at June 30, 2019 follows:

(In thousands)
2019	$	3,118,353
2020		2,063,993
2021		1,028,172
2022		695,152
2023		531,392
2024 and thereafter		476,202
Total certificates of deposit	$	7,913,264

At June 30, 2019, the Corporation had brokered deposits amounting to $ 0.5 billion (December 31, 2018 - $ 0.5 billion).

The aggregate amount of overdrafts in demand deposit accounts that were reclassified to loans was $4 million at June 30, 2019 (December 31, 2018 - $5 million).

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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=50488274&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=6876686&loc=d3e534808-122878

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- References

No definition available.

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