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Note 7 - Deposits | 12 Months Ended
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Dec. 31, 2020
Notes to Financial Statements |
Deposit Liabilities Disclosures [Text Block] |
7. | Deposits
The following table displays deposit balances as of December 31, 2020, and December 31, 2019:
|  | As of December 31, |
|  | 2020 |  |  | 2019 |
|  | (In thousands) |
Demand |  | $ | 3,365,086 |  |  | $ | 2,871,444 |
NOW accounts |  |  | 1,926,135 |  |  |  | 1,358,152 |
Money market accounts |  |  | 3,359,191 |  |  |  | 2,260,764 |
Saving accounts |  |  | 785,672 |  |  |  | 758,903 |
Time deposits |  |  | 6,673,317 |  |  |  | 7,443,045 |
Total |  | $ | 16,109,401 |  |  | $ | 14,692,308 |
Time deposits outstanding as of December 31, 2020, mature as follows.
|  | Expected Maturity Date at December 31, |  |  |  |  |
|  | 2021 |  |  | 2022 |  |  | 2023 |  |  | 2024 |  |  | 2025 |  |  | Thereafter |  |  | Total |
|  | (In thousands) |
Time deposits |  | $ | 6,507,616 |  |  | $ | 107,311 |  |  | $ | 58,261 |  |  | $ | 69 |  |  | $ | 48 |  |  | $ | 12 |  |  | $ | 6,673,317 |
Accrued interest payable on customer deposits was $8.5 million at December 31, 2020, $22.3 million at December 31, 2019, and $10.5 million at December 31, 2018. The following table summarizes the interest expense on deposits by account type for the years ended December 31, 2020, 2019, and 2018:
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  | (In thousands) |
Interest bearing demand |  | $ | 2,816 |  |  | $ | 2,371 |  |  | $ | 2,718 |
Money market accounts |  |  | 21,574 |  |  |  | 21,508 |  |  |  | 16,202 |
Saving accounts |  |  | 1,006 |  |  |  | 1,432 |  |  |  | 1,583 |
Time deposits |  |  | 111,629 |  |  |  | 152,791 |  |  |  | 86,368 |
Total |  | $ | 137,025 |  |  | $ | 178,102 |  |  | $ | 106,871 |
The aggregate amount of domestic time deposits in denominations that meet or exceed the current FDIC insurance limit of $250 thousand was $2.9 billion and $3.1 billion as of December 31, 2020 and 2019, respectively. Foreign offices' time deposits of $142.8 million and $192.9 million as of December 31, 2020 and 2019, respectively, were in denominations of $250 thousand or more.

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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 + Details
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