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Note 8: Deposits

12 Months Ended

Dec. 31, 2017

Notes

Note 8: Deposits

Note 8:      Deposits

Deposits at December 31, 2017 and 2016, are summarized as follows:

	Weighted Average
	Interest Rate		2017		2016
			(In Thousands, Except Interest Rates)
Noninterest-bearing accounts	--		$           661,589		$               653,288
Interest-bearing checking and
savings accounts	0.32% - 0.26%		1,565,711		1,539,216
			2,227,300		2,192,504
Certificate accounts	0% - 0.99%		254,502		695,738
	1% - 1.99%		1,006,373		737,649
	2% - 2.99%		106,888		48,777
	3% - 3.99%		701		1,119
	4% - 4.99%		1,108		1,171
	5% and above		272		272
			1,369,844		1,484,726
			$        3,597,144		$           3,677,230

The weighted average interest rate on certificates of deposit was 1.24% and 1.01% at December 31, 2017 and 2016, respectively.

The aggregate amount of certificates of deposit originated by the Bank in denominations greater than $100,000 was approximately $598.2 million and $634.7 million at December 31, 2017 and 2016, respectively.  The Bank utilizes brokered deposits as an additional funding source.  The aggregate amount of brokered deposits was approximately $260.0 million and $324.3 million at December 31, 2017 and 2016, respectively.

At December 31, 2017, scheduled maturities of certificates of deposit were as follows:

	Retail		Brokered		Total
	(In Thousands)
2018	$         775,404		$         238,410		$      1,013,814
2019	199,252		21,561		220,813
2020	58,811		--		58,811
2021	48,365		--		48,365
2022	25,868		--		25,868
Thereafter	2,173		--		2,173
	$      1,109,873		$         259,971		$      1,369,844

A summary of interest expense on deposits for the years ended December 31, 2017, 2016 and 2015, is as follows:

	2017		2016		2015
	(In Thousands)
Checking and savings accounts	$               4,699		$               3,888		$               2,858
Certificate accounts	16,009		13,598		10,739
Early withdrawal penalties	(113)		(99)		(86)
	$             20,595		$             17,387		$             13,511

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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=50488274&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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X

- References

No definition available.

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