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Deposits | 12 Months Ended
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Dec. 31, 2021
Deposits [Abstract] |
Deposits | Note 16 – Deposits Total interest bearing deposits as of the end of the periods presented consisted of:
(In thousands) | December 31, 2021 | December 31, 2020
Savings accounts | $ | 15,871,998 | $ | 14,031,736
NOW, money market and other interest bearing demand deposits |  | 28,736,459 |  | 22,398,057
Total savings, NOW, money market and other interest bearing demand deposits |  | 44,608,457 |  | 36,429,793
Certificates of deposit: |  |  |  |
| Under $250,000 |  | 4,086,059 |  | 4,524,794
| $250,000 and over |  | 2,626,090 |  | 2,783,054
Total certificates of deposit |  | 6,712,149 |  | 7,307,848
Total interest bearing deposits | $ | 51,320,606 | $ | 43,737,641
A summary of certificates of deposits by maturity at December 31, 2021 follows:
(In thousands) |  |
2022 | $ | 4,043,357
2023 |  | 864,315
2024 |  | 681,201
2025 |  | 511,710
2026 |  | 534,030
2027 and thereafter |  | 77,536
Total certificates of deposit | $ | 6,712,149
At December 31, 2021, the Corporation had brokered deposits amounting to $ 0.8 billion (December 31, 2020 - $ 0.8 billion). The aggregate amount of overdrafts in demand deposit accounts that were reclassified to loans was $6 million at December 31, 2021 (December 31, 2020 - $3 million) At December 31, 2021, public sector deposits amounted to $20.3 billion. A significant portion of Puerto Rico public sector deposits are expected to be used by Puerto Rico pursuant to the Plan of Adjustment for Puerto Rico confirmed by the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) Title III Court, which is expected to become effective on or about March 15, 2022. However, the receipt by the P.R. Government of additional COVID-19 and hurricane recovery related Federal assistance, and seasonal tax collections, could increase public deposit balances at BPPR in the near term. The rate at which public deposit balances will decline is uncertain and difficult to predict. The amount and timing of any such reduction is likely to be impacted by, for example, the implementation of PROMESA and the speed at which COVID-19 federal assistance is distributed.

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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 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1406 -Paragraph (e) Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1406 + Details
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