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DEPOSITS

9 Months Ended

Sep. 30, 2022

DEPOSITS

DEPOSITS

NOTE 7 – DEPOSITS

The Company’s deposits are summarized below:

​

​	​	​	​	​	​	​
​	​	September 30, 2022			December 31, 2021
​	​	(dollars in thousands)
Noninterest-bearing deposits	​	$	1,017,710	​	$	1,087,659
Interest-bearing deposits:	​	​	​	​	​	​
Interest-bearing demand	​	​	1,131,284	​	​	1,105,949
Money market	​	​	584,202	​	​	583,198
Savings	​	​	641,139	​	​	633,171
Time	​	​	269,108	​	​	328,208
Total interest-bearing deposits	​	​	2,625,733	​	​	2,650,526
Total deposits	​	$	3,643,443	​	$	3,738,185

​

Money market deposits include $4.2 million of brokered deposits as of December 31, 2021. There were no brokered deposits as of September 30, 2022. Money market deposits also include $5.7 million and $6.9 million of reciprocal transaction deposits as of September 30, 2022 and December 31, 2021, respectively. Time deposits include $0.7 million and $0.9 million of reciprocal time deposits as of September 30, 2022, and December 31, 2021, respectively.

The aggregate amounts of time deposits in denominations of $250 thousand or more amounted to $25.8 million and $59.5 million as of September 30, 2022 and December 31, 2021, respectively. The aggregate amounts of time deposits in denominations of $100 thousand or more amounted to $89.9 million and $133.1 million as of September 30, 2022 and December 31, 2021, respectively.

The components of interest expense on deposits are as follows:

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended September 30,

​

Nine Months Ended September 30,

​

2022

2021

​

2022

2021

​

​

(dollars in thousands)

Interest-bearing demand

​

$

144

​

$

129

​

$

430

​

$

373

Money market

​

​

203

​

​

96

​

​

434

​

​

279

Savings

​

​

53

​

​

48

​

​

155

​

​

135

Time

​

​

187

​

​

291

​

​

643

​

​

1,034

Total interest expense on deposits

​

$

587

​

$

564

​

$

1,662

​

$

1,821

​

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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 https://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 https://asc.fasb.org/extlink&oid=126897435&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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