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DEPOSITS

12 Months Ended

Dec. 31, 2019

Deposits [Abstract]

DEPOSITS

DEPOSITS

The following table presents the components of deposits as of the dates indicated:

		December 31,
($ in thousands)		2019				2018
Noninterest-bearing deposits		$	1,088,516			$	1,023,360
Interest-bearing deposits
Interest-bearing demand deposits		1,533,882				1,556,410
Money market accounts		715,479				873,153
Savings accounts		885,246				1,265,847
Certificates of deposit of $250,000 or less		582,772				2,388,592
Certificates of deposit of more than $250,000		621,272				809,282
Total interest-bearing deposits		4,338,651				6,893,284
Total deposits		$	5,427,167			$	7,916,644

The aggregate amount of deposits reclassified as loans, such as overdrafts, was $300 thousand and $477 thousand at December 31, 2019 and 2018.

We had California State Treasurer’s deposits of $300.0 million, and accrued interest on these deposits, in certificates of deposit of more than $250,000 at both December 31, 2019 and 2018. The California State Treasurer’s deposits are subject to withdrawal based on the State’s periodic evaluations. At December 31, 2019 and 2018, we provided letters of credit of $300.0 million and $330.0 million through the FHLB of San Francisco as collateral for the California State Treasurer’s deposits. In addition, we had other public deposits of $23.3 million and $18.6 million at December 31, 2019 and 2018. As of December 31, 2019, we provided an additional $30.0 million letter of credit through the FHLB of San Fransisco as collateral for the remaining public deposits. Securities with carrying values of zero and $57.8 million were pledged as collateral for these deposits at December 31, 2019 and 2018.

The following table presents a summary of brokered deposits as of the dates indicated:

		December 31,
($ in thousands)		2019				2018
Interest-bearing demand deposits		$	—			$	770
Money market accounts		10,000				164,505
Certificates of deposit of $250,000 or less		—				1,543,269
Certificates of deposit of more than $250,000		—				—
Total brokered deposits		$	10,000			$	1,708,544

The following table presents scheduled maturities of certificates of deposit as of December 31, 2019:

($ in thousands)		2020				2021				2022				2023				2024				Total
Certificates of deposit of $250,000 or less		$	527,920			$	46,186			$	4,300			$	2,795			$	1,571			$	582,772
Certificates of deposit of more than $250,000		578,583				15,433				26,442				814				—				621,272
Total certificates of deposit		$	1,106,503			$	61,619			$	30,742			$	3,609			$	1,571			$	1,204,044

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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

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X

- References

No definition available.

+ Details

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