XML 48 R36.htm IDEA: XBRL DOCUMENT v3.21.2
Deposits (Tables)
 9 Months Ended
Sep. 30, 2021
Banking and Thrift, Interest [Abstract]  
Schedule of Deposits
The following table presents the composition of deposits, which are classified as short-term or long-term based on their contractual maturities:
  (In thousands)
September 30, 2021December 31, 2020
Interest-bearing money market deposits1
$313,000 $439,894 
Customer deposits122,814 116,694 
Contractual deposits with maturities within 1 year1,2,3
580,513 354,807 
Short-term deposits1,016,327 911,395 
Contractual deposits with maturities greater than 1 year and less than 5 years1,2,3
600,496 148,591 
Total deposits$1,616,823 $1,059,986 
Weighted average cost of funds on contractual deposits outstanding0.52 %1.81 %
Weighted average cost of interest-bearing money market deposits0.23 %0.27 %
1 As of September 30, 2021 and December 31, 2020, all certificates of deposit and money market deposits were in denominations of $250 thousand or less, corresponding to FDIC deposit insurance limits.
2 Original maturities range from 9 months to 5 years, with coupon interest rates ranging from 0.12 percent to 3.52 percent as of September 30, 2021. At December 31, 2020, original maturities ranged from 1 year to 5 years with coupon interest rates ranging from 1.35 percent to 3.52 percent.
3 Includes certificates of deposit and certain money market deposits, which have a fixed maturity and interest rate.