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Deposits and Related Interest | 6 Months Ended
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Jun. 30, 2016
Deposits and Related Interest [Abstract] |
Deposit and Related Interest | NOTE 9— DEPOSITS AND RELATED INTEREST Total deposits, including related accrued interest payable, as of June 30, 2016 and December 31, 2015 consists of the following:
|  | June 30, |  |  | December 31,
| 2016 |  | 2015
| (In thousands)
Non-interest bearing demand deposits | $ | 917,260 |  | $ | 762,009
Interest-bearing savings and demand deposits |  | 2,165,907 |  |  | 2,208,180
Individual retirement accounts |  | 269,189 |  |  | 268,799
Retail certificates of deposit |  | 525,979 |  |  | 441,998
Institutional certificates of deposit |  | 204,074 |  |  | 253,791
Total core deposits |  | 4,082,409 |  |  | 3,934,777
Brokered deposits |  | 561,645 |  |  | 782,974
Total deposits | $ | 4,644,054 |  | $ | 4,717,751
Brokered deposits include $495.9 million in certificates of deposits and $65.7 million in money market accounts at June 30, 2016, and $711.4 million in certificates of deposits and $71.6 million in money market accounts at December 31, 2015. T he weighted average interest rate of the Company’s deposits was 0.63% and 0.5 7% at June 30, 2016 and December 31, 2015, respectively. Interest expense for the quarters and six-month periods ended June 30, 2016 and 2015 was as follows:
| Quarter Ended June 30, |  | Six-Month Period Ended June 30,
| 2016 |  | 2015 |  | 2016 |  | 2015
| (In thousands) |  | (In thousands)
Demand and savings deposits | $ | 3,184 |  | $ | 3,100 |  | $ | 6,026 |  | $ | 6,482
Certificates of deposit |  | 4,183 |  |  | 3,504 |  |  | 8,465 |  |  | 7,226
| $ | 7,367 |  | $ | 6,604 |  | $ | 14,491 |  | $ | 13,708
At June 30, 2016 and December 31, 2015, demand and interest-bearing deposits and certificates of deposit included deposits of the Puerto Rico Cash & Money Market Fund, Inc., which amounted to $104.4 million and $103.7 million, respectively, with a weighted average rate of 0.77% for both periods, and were collateralized with investment securities with a fair value of $84.7 million and $81.6 million, respectively. At June 30, 2016 and December 31, 2015, time deposits in denominations of $25 0 thousand or higher, excluding accrued interest and unamortized discounts, amounted to $340.9 million and $376.8 million, respectively. Such amounts include public fund time deposits from various Puerto Rico government municipalities, agencies, and corporations of $9.2 million and $7.6 million at a weighted average rate of 0.55% and 0.49% at June 30, 2016 and December 31, 2015, respectively. At June 30, 2016 and December 31, 2015, total public fund deposits from various Puerto Rico government municipalities, agencies, and corporations amounted to $88.4 million and $99.0 million, respectively. These public funds were collateralized with commercial loans amounting to $410.9 million at June 30, 2016 and December 31, 2015. Excluding equity indexed options in the amount of $181 thousand, which are used by the Company to manage its exposure to the S&P 500 Index, and also excluding accrued interest of $1.8 million and unamortized deposit discount in the amount of $150 thousand, the scheduled maturities of certificates of deposit at June 30, 2016 and December 31, 2015 are as follows:
| June 30, 2016 |  | December 31, 2015
| (In thousands)
Within one year: |  |  |  |  |
Three (3) months or less | $ | 225,512 |  | $ | 474,051
Over 3 months through 1 year |  | 518,304 |  |  | 501,551
|  | 743,816 |  |  | 975,602
Over 1 through 2 years |  | 513,092 |  |  | 454,906
Over 2 through 3 years |  | 155,666 |  |  | 176,406
Over 3 through 4 years |  | 36,059 |  |  | 32,396
Over 4 through 5 years |  | 44,340 |  |  | 33,715
| $ | 1,492,973 |  | $ | 1,673,025
The table of scheduled maturities of certificates of deposits above includes brokered-deposits and individual retirement accounts. The aggregate amount of overdrafts in demand deposit accounts that were reclassified to loans amounted to $569 thousand as of June 30, 2016 and $1.5 million as of December 31, 2015.

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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=50488274&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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