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Deposits

6 Months Ended

Jun. 30, 2020

Deposits [Abstract]

Deposits

Deposits

Deposits are categorized as non-interest or interest-bearing deposits as follows:

			June 30, 2020						December 31, 2019
			(In thousands)
Non-interest bearing deposit accounts			$	1,964,690					$	1,055,818
Interest-bearing deposit accounts
Checking accounts			8,304						95,995
Savings			8,110						6,619
GPR deposits			14,576						11,892
Time deposits, denominations greater than or equal to $100			3,830						3,854
Time deposits, denominations less than $100			1,060						1,163
Total interest-bearing deposit accounts			35,880						119,523
Total deposits			$	2,000,570					$	1,175,341

Total deposit balances have increased substantially as compared to December 31, 2019, principally as a result of stimulus funds and other government benefits received by our cardholders under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

The scheduled contractual maturities for total time deposits are presented in the table below:

			June 30, 2020
			(In thousands)
Due in 2020			$	818
Due in 2021			1,150
Due in 2022			1,484
Due in 2023			627
Due in 2024			454
Thereafter			357
Total time deposits			$	4,890

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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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X

- References

No definition available.

+ Details

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