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Note 10: Deposits

6 Months Ended

Jun. 30, 2014

Notes

Note 10: Deposits

NOTE 10: DEPOSITS

	June 30,		December 31,
	2014		2013
(In Thousands)
Time Deposits:
0.00% - 0.99%	$771,460		$        669,698
1.00% - 1.99%	253,663		251,118
2.00% - 2.99%	73,469		61,042
3.00% - 3.99%	10,266		9,413
4.00% - 4.99%	1,793		1,852
5.00% and above	429		819
Total time deposits (0.80% - 0.69%)	1,111,080		993,942
Non-interest-bearing demand deposits	550,976		522,805
Interest-bearing demand and savings deposits (0.20% - 0.20%)	1,539,672		1,291,879
Total Deposits	$3,201,728		$2,808,626

Included in the deposits assumed from Valley Bank on June 20, 2014, were $114.2 million of certificates of deposit which Valley had obtained through various Internet services.  The Bank elected to reduce the rates paid on these types of deposits to current posted rates as allowed by the Purchase and Assumption Agreement.  The Bank expects that most, if not all, of these deposits will be redeemed by the account holder as is their right in this situation.  At June 30, 2014, the balance of these Internet deposits had been reduced to $96.9 million.  Subsequent to June 30, 2014, the balance has further decreased to less than $50 million.

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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://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 405

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6479006&loc=d3e64164-112818



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-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=6876686&loc=d3e534808-122878

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