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Deposits and Related Interest | 9 Months Ended
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Sep. 30, 2015
Deposits and Related Interest [Abstract] |
Deposit and Related Interest | NOTE 10— DEPOSITS AND RELATED INTEREST Total deposits, including related accrued interest payable, as of September 30, 2015 and December 31, 2014 consist of the following:
| September 30, |  | December 31,
| 2015 |  | 2014
| (In thousands)
Non-interest bearing demand deposits | $ | 792,110 |  | $ | 745,570
Interest-bearing savings and demand deposits |  | 2,330,018 |  |  | 2,544,664
Individual retirement accounts |  | 272,276 |  |  | 302,622
Retail certificates of deposit |  | 456,320 |  |  | 452,150
Institutional certificates of deposit |  | 213,224 |  |  | 260,090
Total core deposits |  | 4,063,948 |  |  | 4,305,096
Brokered deposits |  | 653,126 |  |  | 619,310
Total deposits | $ | 4,717,074 |  | $ | 4,924,406
Brokered deposits include $577.6 million in certificates of deposits and $75.5 million in money market accounts at September 30, 2015, and $526.2 million in certificates of deposits and $93.1 million in money market accounts at December 31, 2014. T he weighted average interest rate of the Company’s deposits was 0.56% at September 30, 2015 and 0.66% at December 31, 2014. Interest expense for the quarters and nine-month periods ended September 30, 2015 and 2014 was as follows:
| Quarter Ended September 30, |  | Nine-Month Period Ended September 30,
| 2015 |  | 2014 |  | 2015 |  | 2014
| (In thousands) |  | (In thousands)
Demand and savings deposits | $ | 2,987 |  | $ | 4,003 |  | $ | 9,469 |  | $ | 13,834
Certificates of deposit |  | 3,664 |  |  | 3,658 |  |  | 10,890 |  |  | 11,970
| $ | 6,651 |  | $ | 7,661 |  | $ | 20,359 |  | $ | 25,804
At September 30, 2015 and December 31, 2014, demand and interest-bearing deposits and certificates of deposit included deposits of Puerto Rico Cash & Money Market Fund, Inc., which amounted to $102.8 million and $96.8 million, respectively, with a weighted average rate of 0.7 7% and 0.78%, and were collateralized with investment securities with a fair value of $8 3.2 million and $76.3 million, respectively. At September 30, 2015 and December 31, 2014, time deposits in denominations of $100 thousand or higher, excluding accrued interest and unamortized discounts, amounted to $5 74.4 million and $608.1 million, respectively. Such amounts include public fund time deposits from various Puerto Rico government municipalities, agencies, and corporations of $9.8 million at a weighted average rate of 0.52% at September 30, 2015, and $6.9 million at a weighted average rate of 0.50% at December 31, 2014. At September 30, 2015 and December 31, 2014, total public fund deposits from various Puerto Rico government municipalities, agencies, and corporations amounted to $175.0 million and $3 18.5 million, respectively. These public funds were collateralized with commercial loans amounting to $411.4 million and $414.5 million at September 30, 2015 and December 31, 2014, respectively Excluding equity indexed options in the amount of $1.0 million, which are used by the Company to manage its exposure to the S&P 500 Index, and also excluding accrued interest of $1.1 million and unamortized deposit discount in the amount of $381 thousand, the scheduled maturities of certificates of deposit at September 30, 2015 are as follows:
| September 30, 2015
| (In thousands)
Within one year: |  |
Three (3) months or less | $ | 207,581
Over 3 months through 1 year |  | 738,878
|  | 946,459
Over 1 through 2 years |  | 396,619
Over 2 through 3 years |  | 113,719
Over 3 through 4 years |  | 13,027
Over 4 through 5 years |  | 47,020
| $ | 1,516,844
The table of scheduled maturities of certificates of deposits above includes brokered deposits. The aggregate amount of overdrafts in demand deposit accounts that were reclassified to loans amounted to $682 thousand and $845 thousand as of September 30, 2015 and December 31, 2014, respectively.

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- Definition Deposits and related interest. + References No definition available. + Details
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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 405 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6479006&loc=d3e64164-112818 Reference 2: http://www.xbrl.org/2003/role/presentationRef -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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