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Deposits (Tables)
 12 Months Ended
Dec. 31, 2020
Deposits [Abstract]  
Summary of Deposits

As of December 31, 2020 and 2019, deposits consisted of the following (in thousands):

 

 

 

2020

 

 

2019

 

Demand deposits:

 

 

 

 

 

 

 

 

Non-interest bearing

 

$

936,926

 

 

$

633,331

 

Interest-bearing

 

 

1,031,183

 

 

 

850,956

 

Savings

 

 

499,427

 

 

 

428,778

 

Money market

 

 

748,179

 

 

 

419,801

 

Time deposits

 

 

477,069

 

 

 

584,500

 

Total deposits

 

$

3,692,784

 

 

$

2,917,366

 
Summary of Interest Expense on Deposits

Total interest expense on deposits for the years ended December 31, 2020, 2019 and 2018 was as follows (in thousands):

 

 

 

2020

 

 

2019

 

 

2018

 

Interest-bearing demand

 

$

1,462

 

 

$

2,741

 

 

$

1,158

 

Savings

 

 

426

 

 

 

590

 

 

 

579

 

Money market

 

 

2,270

 

 

 

3,742

 

 

 

2,135

 

Time deposits

 

 

8,593

 

 

 

11,866

 

 

 

4,699

 

Total

 

$

12,751

 

 

$

18,939

 

 

$

8,571

 

 

 

 

 

 

 

 

 

 

 

 

 

 
Summary of Aggregate Amount of Time Deposits more than 100,000

As of December 31, 2020, 2019 and 2018, the aggregate amount of time deposits in denominations of more than $250,000 was as follows (in thousands):

 

 

 

2020

 

 

2019

 

 

2018

 

Time deposit balances in denominations of more than $250,000

 

$

98,277

 

 

$

107,285

 

 

$

87,517

 
Summary of Maturities for All Time Deposits

 

The following table shows the amount of maturities for all time deposits as of December 31, 2020 (in thousands):

 

Less than 1 year

 

$

349,506

 

1 year to 2 years

 

 

70,312

 

2 years to 3 years

 

 

26,498

 

3 years to 4 years

 

 

18,555

 

4 years to 5 years

 

 

12,100

 

Over 5 years

 

 

98

 

Total

 

$

477,069