XML 27 R16.htm IDEA: XBRL DOCUMENT v3.19.2
Deposits
6 Months Ended
Jun. 30, 2019
Banking and Thrift [Abstract]  
Deposits Deposits
The aggregate amount of time deposits in denominations of more than $250 thousand at June 30, 2019 and December 31, 2018, was $1.81 billion and $1.77 billion, respectively. Included in time deposits of more than $250 thousand were $300.0 million in California State Treasurer’s deposits at June 30, 2019 and December 31, 2018. 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 June 30, 2019 and December 31, 2018, securities with fair values of approximately $333.7 million and $336.8 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 June 30, 2019 and December 31, 2018, totaled $1.48 billion and $1.57 billion, respectively. Brokered deposits at June 30, 2019 consisted of $266.9 million in money market and NOW accounts and $1.21 billion in time deposits accounts. Brokered deposits at December 31, 2018 consisted of $370.4 million in money market and NOW accounts and $1.20 billion in time deposit accounts.