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DEPOSITS

6 Months Ended

Jun. 30, 2021

DEPOSITS

DEPOSITS

NOTE 7 – DEPOSITS

The Company’s deposits are summarized below:

​

​	​	​	​	​	​	​
​	​	June 30, 2021			December 31, 2020
​	​	(dollars in thousands)
Noninterest-bearing deposits	​	$	1,011,481	​	$	882,939
Interest-bearing deposits:	​	​	​	​	​	​
Interest-bearing demand	​	​	1,023,565	​	​	968,592
Money market	​	​	506,880	​	​	462,056
Savings	​	​	603,849	​	​	517,473
Time	​	​	278,859	​	​	299,474
Total interest-bearing deposits	​	​	2,413,153	​	​	2,247,595
Total deposits	​	$	3,424,634	​	$	3,130,534

​

Money market deposits include $6,896,000 and $6,489,000 of reciprocal transaction deposits as of June 30, 2021 and December 31, 2020, respectively. Time deposits include $2,464,000 and $3,164,000 of reciprocal time deposits as of June 30, 2021 and December 31, 2020, respectively.

The aggregate amounts of time deposits in denominations of $250,000 or more amounted to $22,821,000 and $26,687,000 as of June 30, 2021 and December 31, 2020, respectively. The aggregate amounts of time deposits in denominations of $100,000 or more amounted to $90,749,000 and $99,649,000 as of June 30, 2021 and December 31, 2020, respectively.

The components of interest expense on deposits are as follows:

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended June 30,

​

Six Months Ended June 30,

​

2021

2020

​

2021

2020

​

​

(dollars in thousands)

Interest-bearing demand

​

$

127

​

$

162

​

$

244

​

$

413

Money market

​

​

94

​

​

118

​

​

183

​

​

512

Savings

​

​

46

​

​

50

​

​

87

​

​

120

Time

​

​

346

​

​

712

​

​

743

​

​

1,592

Total interest expense on deposits

​

$

613

​

$

1,042

​

$

1,257

​

$

2,637

​

X

- 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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X

- References

No definition available.

+ Details

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Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration