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DEPOSITS

3 Months Ended

Mar. 31, 2022

DEPOSITS

DEPOSITS

NOTE 7 – DEPOSITS

The Company’s deposits are summarized below:

​

​	​	​	​	​	​	​
​	​	March 31, 2022			December 31, 2021
​	​	(dollars in thousands)
Noninterest-bearing deposits	​	$	1,069,231	​	$	1,087,659
Interest-bearing deposits:	​	​	​	​	​	​
Interest-bearing demand	​	​	1,167,058	​	​	1,105,949
Money market	​	​	597,464	​	​	583,198
Savings	​	​	687,147	​	​	633,171
Time	​	​	295,169	​	​	328,208
Total interest-bearing deposits	​	​	2,746,838	​	​	2,650,526
Total deposits	​	$	3,816,069	​	$	3,738,185

​

Money market deposits include $4.2 million and $4.2 million of brokered deposits as of March 31, 2022 and December 31, 2021, respectively. Money market deposits also include $7.7 million and $6.9 million of reciprocal transaction deposits as of March 31, 2022 and December 31, 2021, respectively. Time deposits include $1.2 million and $0.9 million of reciprocal time deposits as of March 31, 2022, and December 31, 2021, respectively.

The aggregate amounts of time deposits in denominations of $250 thousand or more amounted to $35.0 million and $59.5 million as of March 31, 2022 and December 31, 2021, respectively. The aggregate amounts of time deposits in denominations of $100 thousand or more amounted to $104.7 million and $133.1 million as of March 31, 2022 and December 31, 2021, respectively.

The components of interest expense on deposits are as follows:

​

​	​	​	​	​	​	​
​	​	Three Months Ended March 31,
​	​	2022			2021
​	​	(dollars in thousands)
Interest-bearing demand	​	$	142	​	$	117
Money market	​	​	121	​	​	89
Savings	​	​	50	​	​	41
Time	​	​	256	​	​	397
Total interest expense on deposits	​	$	569	​	$	644

​

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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

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

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X

- References

No definition available.

+ Details

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