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DEPOSITS | 12 Months Ended
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Dec. 31, 2019
Banking and Thrift [Abstract] |
DEPOSITS | DEPOSITS The following is a summary of the scheduled maturities of time deposits as of December 31:
| 2019 |  | 2018
| (Dollars in thousands)
1 year or less | $ | 1,097,407 |  |  | 78.6 | % |  | $ | 511,292 |  |  | 71.9 | %
Over 1 year to 2 years | 204,690 |  |  | 14.7 | % |  | 111,487 |  |  | 15.7 | %
Over 2 years to 3 years | 55,615 |  |  | 4.0 | % |  | 41,523 |  |  | 5.8 | %
Over 3 years to 4 years | 24,038 |  |  | 1.7 | % |  | 27,040 |  |  | 3.8 | %
Over 4 years to 5 years | 13,565 |  |  | 1.0 | % |  | 19,761 |  |  | 2.8 | %
Total | $ | 1,395,315 |  |  | 100.0 | % |  | $ | 711,103 |  |  | 100.0 | %
The amount of overdraft deposits that were reclassified to the loan category were $5.0 million and $3.3 million at December 31, 2019 and 2018, respectively. The Company has pledged assets as collateral covering certain deposits in the amount of $323.1 million and $356.8 million at December 31, 2019 and 2018, respectively. The Bank's deposit accounts are insured to the maximum extent permitted by law by the Deposit Insurance Fund which is administered by the FDIC. The FDIC offers insurance coverage on deposits up to the federally insured limit of $250,000. The amount of time deposit accounts equal to or greater than $250,000 as of December 31, 2019 and 2018 is $244.7 million and $104.9 million, respectively.

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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=6876686&loc=d3e534808-122878 + Details
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