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DEPOSITS

9 Months Ended

Sep. 30, 2021

DEPOSITS

DEPOSITS

NOTE 7 – DEPOSITS

The Company’s deposits are summarized below:

​

​	​	​	​	​	​	​
​	​	September 30, 2021			December 31, 2020
​	​	(dollars in thousands)
Noninterest-bearing deposits	​	$	1,003,723	​	$	882,939
Interest-bearing deposits:	​	​	​	​	​	​
Interest-bearing demand	​	​	1,013,678	​	​	968,592
Money market	​	​	519,343	​	​	462,056
Savings	​	​	611,050	​	​	517,473
Time	​	​	271,762	​	​	299,474
Total interest-bearing deposits	​	​	2,415,833	​	​	2,247,595
Total deposits	​	$	3,419,556	​	$	3,130,534

​

Money market deposits include $6,191,000 and $6,489,000 of reciprocal transaction deposits as of September 30, 2021 and December 31, 2020, respectively. Time deposits include $850,000 and $3,164,000 of reciprocal time deposits as of September 30, 2021, and December 31, 2020, respectively.

The aggregate amounts of time deposits in denominations of $250,000 or more amounted to $24,319,000 and $26,687,000 as of September 30, 2021 and December 31, 2020, respectively. The aggregate amounts of time deposits in denominations of $100,000 or more amounted to $88,243,000 and $99,649,000 as of September 30, 2021 and December 31, 2020, respectively.

The components of interest expense on deposits are as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended September 30,

​

Nine Months Ended September 30,

​

2021

2020

​

2021

2020

​

​

(dollars in thousands)

Interest-bearing demand

​

$

129

​

$

123

​

$

373

​

$

536

Money market

​

​

96

​

​

96

​

​

279

​

​

608

Savings

​

​

48

​

​

37

​

​

135

​

​

157

Time

​

​

291

​

​

587

​

​

1,034

​

​

2,179

Total interest expense on deposits

​

$

564

​

$

843

​

$

1,821

​

$

3,480

​

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

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (e)

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406

+ Details

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X

- References

No definition available.

+ Details

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Namespace Prefix:	us-gaap_
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