NOTE 9 – DEPOSITS

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


	December 31, 2020		December 31, 2019
	(dollars in thousands)
Noninterest-bearing deposits	$	882,939	$	689,116
Interest-bearing deposits:
Interest-bearing demand		968,592		814,639
Money market		462,056		477,765
Savings		517,473		438,927
Time		299,474		356,408
Total interest-bearing deposits		2,247,595		2,087,739
Total deposits	$	3,130,534	$	2,776,855

Money market deposits include $6,489,000 and $14,309,000 of reciprocal transaction deposits as of December 31, 2020 and 2019, respectively. Time deposits include $3,164,000 and $3,538,000 of reciprocal time deposits as of December 31, 2020 and 2019, respectively.

The aggregate amounts of time deposits in denominations of $250,000 or more amounted to $26,687,000 and $44,754,000 as of December 31, 2020 and 2019, respectively. The aggregate amounts of time deposits in denominations of $100,000 or more amounted to $99,649,000 and $130,293,000 as of December 31, 2020 and 2019, respectively.

At December 31, 2020, the scheduled maturities of time deposits are as follows (dollars in thousands):


Year ended December 31,
2021	$	218,378
2022		49,776
2023		14,864
2024		8,208
2025		8,101
Thereafter		147
Total	$	299,474

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


	Year Ended December 31,
	2020		2019		2018
	(dollars in thousands)
Interest-bearing demand	$	647	$	1,474	$	1,378
Money market		697		1,837		685
Savings		196		278		283
Time		2,681		4,343		3,541
Total interest expense on deposits	$	4,221	$	7,932	$	5,887