NOTE 9 – DEPOSITS

The Company’s interest-bearing deposits are summarized below as December 31:


	December 31, 2019		December 31, 2018
	(dollars in thousands)
Interest-bearing demand	$	814,639	$	856,919
Money market		477,765		427,730
Savings		438,927		421,698
Time		356,408		424,747
Total interest-bearing deposits	$	2,087,739	$	2,131,094

Money market deposits include $14,309,000 and $20,512,000 of reciprocal transaction deposits as of December 31, 2019 and 2018, respectively. Time deposits include $3,538,000 and $4,895,000 of reciprocal time deposits as of December 31, 2019 and 2018, respectively.

The aggregate amounts of time deposits in denominations of $250,000 or more amounted to $44,754,000 and $36,875,000 as of December 31, 2019 and 2018, respectively. The aggregate amounts of time deposits in denominations of $100,000 or more amounted to $130,293,000 and $153,717,000 as of December 31, 2019 and 2018, respectively.

At December 31, 2019, the scheduled maturities of time deposits are as follows (dollars in thousands):


Year ended December 31,
2020	$	257,937
2021		58,929
2022		23,423
2023		8,926
2024		7,023
Thereafter		170
Total	$	356,408

Deposits of related parties amounted to $11,949,000 and $12,717,000 as of December 31, 2019 and 2018, respectively.

The components of interest expense on deposits for the years ended December 31 are as follows:


	Year Ended December 31,
	2019		2018		2017
	(dollars in thousands)
Interest-bearing demand	$	1,474	$	1,378	$	908
Money market		1,837		685		704
Savings		278		283		293
Time		4,343		3,541		3,054
Total interest expense on deposits	$	7,932	$	5,887	$	4,959