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Deposits and Related Interest | 12 Months Ended
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Dec. 31, 2019
Deposits and Related Interest [Abstract] |
Deposits and Related Interest | NOTE 15— DEPOSITS AND RELATED INTEREST Total deposits, including related accrued interest payable, as of December 31, 2019 and 2018 consist of the following:
| December 31,
| 2019 |  | 2018
| (In thousands)
Non-interest bearing demand deposits | $ | 1,675,315 |  | $ | 1,105,324
Interest-bearing savings and demand deposits |  | 3,718,846 |  |  | 2,274,423
Retail certificates of deposit |  | 1,781,237 |  |  | 805,712
Institutional certificates of deposit |  | 279,714 |  |  | 197,559
Total core deposits |  | 7,455,112 |  |  | 4,383,018
Brokered deposits |  | 243,498 |  |  | 525,097
Total deposits | $ | 7,698,610 |  | $ | 4,908,115
A t December 31, 2019, Oriental completed t he Scotiabank PR & USVI Acquisition adding $3.0 b illion in core deposits. B rokered deposits include $222.1 million in certificates of deposits and $21.4 million in money market accounts at December 31, 2019, and $500.8 million in certificates of deposits and $24.3 million in money market accounts at December 31, 2018. As part of the sale $672.2 million available-for-sale mortgage-backed securities during the year ended December 31, 2019, Oriental reduced $277.7 million brokered deposits. The weighted average interest rate of Oriental’s deposits was 0.86% and 0.67%, respectively, at December 31, 2019 and 2018. Interest expense for the years ended December 31, 2019, 2018 and 2017 was as follows:
| Year Ended December 31,
| 2019 |  | 2018 |  | 2017
| (In thousands)
Demand and savings deposits | $ | 14,925 |  | $ | 12,478 |  | $ | 11,426
Certificates of deposit |  | 24,430 |  |  | 20,475 |  |  | 18,872
| $ | 39,355 |  | $ | 32,953 |  | $ | 30,298
At December 31, 2019 and 2018, time deposits in denominations of $250 thousand or higher, excluding accrued interest and unamortized discounts, amounted to $692.1 million and $346.0 million, respectively. Such amounts include public funds time deposits from various Puerto Rico government municipalities, agencies and corporations of $257.2 million and $19.6 million at a weighted average rate of 67.0% and 116.4% at December 31, 2019 and 2018, respectively. At December 31, 2019 and 2018, total public fund deposits from various Puerto Rico government municipalities, agencies and corporations amounted to $278.7 million and $207.4 million, respectively. These public funds were col lateralized with commercial loans and securities amounting to $320.8 million and $281.2 million at December 31, 2019 and 2018, respectively. Excluding accrued interest of approximately $1 1.7 million, the scheduled maturities of certificates of deposit at December 31, 2019 and 2018 are as follows:
| December 31,
|  | 2019 |  |  | 2018
| (In thousands)
Within one year: |  |  |  |  |
Three (3) months or less | $ | 314,796 |  | $ | 305,088
Over 3 months through 1 year |  | 881,183 |  |  | 545,363
|  | 1,195,979 |  |  | 850,451
Over 1 through 2 years |  | 732,421 |  |  | 484,197
Over 2 through 3 years |  | 175,032 |  |  | 89,340
Over 3 through 4 years |  | 89,148 |  |  | 34,018
Over 4 through 5 years |  | 78,706 |  |  | 42,998
| $ | 2,271,286 |  | $ | 1,501,004
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 t hat were reclassified to loans amounted to $1.0 million and $1.1 million as of December 31, 2019 and 2018, 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://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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