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DEPOSITS | 3 Months Ended
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Mar. 31, 2021
DEPOSITS |
DEPOSITS | NOTE 6 – DEPOSITS The Company’s deposits are summarized below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2021 |  | December 31, 2020
​ | ​ | (dollars in thousands)
Noninterest-bearing deposits | ​ | $ | 968,991 | ​ | $ | 882,939
Interest-bearing deposits: | ​ | ​ | ​ | ​ | ​ | ​
Interest-bearing demand | ​ | ​ | 1,008,954 | ​ | ​ | 968,592
Money market | ​ | ​ | 499,088 | ​ | ​ | 462,056
Savings | ​ | ​ | 593,472 | ​ | ​ | 517,473
Time | ​ | ​ | 285,461 | ​ | ​ | 299,474
Total interest-bearing deposits | ​ | ​ | 2,386,975 | ​ | ​ | 2,247,595
Total deposits | ​ | $ | 3,355,966 | ​ | $ | 3,130,534
​ Money market deposits include $6,853,000 and $6,489,000 of reciprocal transaction deposits as of March 31, 2021 and December 31, 2020, respectively. Time deposits include $2,687,000 and $3,164,000 of reciprocal time deposits as of March 31, 2021 and December 31, 2020, respectively. The aggregate amounts of time deposits in denominations of $250,000 or more amounted to $21,900,000 and $26,687,000 as of March 31, 2021 and December 31, 2020, respectively. The aggregate amounts of time deposits in denominations of $100,000 or more amounted to $92,266,000 and $99,649,000 as of March 31, 2021 and December 31, 2020, respectively. The components of interest expense on deposits are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31,
​ | ​ | 2021 |  | 2020
​ | ​ | (dollars in thousands)
Interest-bearing demand | ​ | $ | 117 | ​ | $ | 251
Money market | ​ | ​ | 89 | ​ | ​ | 394
Savings | ​ | ​ | 41 | ​ | ​ | 70
Time | ​ | ​ | 397 | ​ | ​ | 880
Total interest expense on deposits | ​ | $ | 644 | ​ | $ | 1,595
​

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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=120398452&loc=d3e534808-122878 + Details
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- References No definition available. + Details
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