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Deposits
3 Months Ended
Mar. 31, 2017
Banking and Thrift [Abstract]  
Deposits
Deposits
The aggregate amount of time deposits in denominations of $250,000 or more at March 31, 2017 and December 31, 2016, was $1.56 billion and $1.55 billion, respectively. Included in time deposits of $250,000 or more were $300.0 million in California State Treasurer’s deposits at March 31, 2017 and December 31, 2016. The California State Treasurer’s deposits are subject to withdrawal based on the State’s periodic evaluations. The Company is required to pledge eligible collateral of at least 110% of outstanding deposits. At March 31, 2017 and December 31, 2016, securities with carrying values of approximately $355.7 million and $371.6 million, respectively, were pledged as collateral for the California State Treasurer’s deposit.
The Company also utilizes brokered deposits as a secondary source of funds. Total brokered deposits at March 31, 2017 and December 31, 2016, totaled $714.4 million and $724.7 million, respectively.