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DEPOSITS | 9 Months Ended
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Sep. 30, 2019
DEPOSITS |
DEPOSITS | NOTE 7 – DEPOSITS The Company’s interest-bearing deposits are summarized below as of September 30, 2019 and December 31, 2018:
|  |  |  |  |  |  |  | September 30, 2019 |  | December 31, 2018
|  |  |  |  |  |  |  | (dollars in thousands)
Interest-bearing demand |  |  |  |  |  |  |  | $ | 800,471 |  | $ | 856,919
Money market |  |  |  |  |  |  |  |  | 463,444 |  |  | 427,730
Savings |  |  |  |  |  |  |  |  | 426,707 |  |  | 421,698
Time |  |  |  |  |  |  |  |  | 364,120 |  |  | 424,747
Total interest-bearing deposits |  |  |  |  |  |  |  | $ | 2,054,742 |  | $ | 2,131,094
Money market deposits include $16,315,000 and $20,512,000 of reciprocal transaction deposits as of September 30, 2019 and December 31, 2018, respectively. Time deposits include $3,534,000 and $4,895,000 of reciprocal time deposits as of September 30, 2019 and December 31, 2018, respectively. The aggregate amounts of time deposits in denominations of $250,000 or more amounted to $32,075,000 and $36,875,000 as of September 30, 2019 and December 31, 2018, respectively. The aggregate amounts of time deposits in denominations of $100,000 or more amounted to $124,850,000 and $153,717,000 as of September 30, 2019 and December 31, 2018, respectively. The components of interest expense on deposits for the three and nine months ended September 30, 2019 and 2018 are as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2019 |  | 2018 |  | 2019 |  | 2018
|  | (dollars in thousands)
Interest-bearing demand |  | $ | 347 |  | $ | 377 |  | $ | 1,175 |  | $ | 964
Money market |  |  | 497 |  |  | 165 |  |  | 1,356 |  |  | 491
Savings |  |  | 70 |  |  | 70 |  |  | 207 |  |  | 213
Time |  |  | 1,086 |  |  | 1,007 |  |  | 3,356 |  |  | 2,547
Total interest expense on deposits |  | $ | 2,000 |  | $ | 1,619 |  | $ | 6,094 |  | $ | 4,215

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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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- References No definition available. + Details
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