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Deposits

12 Months Ended

Dec. 31, 2020

Deposits

Deposits

Note 8:     Deposits

Deposits at December 31, 2020 and 2019, are summarized as follows:

​

​	​	​	​	​	​	​	​	​
​	​	Weighted Average	​	​	​	​	​	​
​		Interest Rate		2020			2019
​	​	​	​	(In Thousands, Except Interest Rates)
​	​	​	​	​	​	​	​	​
Noninterest-bearing accounts		—	​	$	984,798	​	$	687,068
Interest-bearing checking and savings accounts		0.22% and 0.55%			2,141,313	​		1,551,929
​		​	​		3,126,111	​	​	2,238,997
​	​	​	​	​	​	​	​	​
Certificate accounts		0% - 0.99%	​		803,737	​		122,649
​		1% - 1.99%	​		425,061	​		523,816
​		2% - 2.99%	​		143,417	​		1,053,914
​		3% - 3.99%	​		18,148	​		19,849
​		4% and above	​		429	​		881
​		​	​		1,390,792	​	​	1,721,109
​	​	​	​	​	​	​	​	​
​		​	​	$	4,516,903	​	$	3,960,106

​

The weighted average interest rate on certificates of deposit was 1.00% and 2.09% at December 31, 2020 and 2019, respectively.

The aggregate amount of certificates of deposit originated by the Bank in denominations greater than $250,000 was approximately $123.1 million and $153.1 million at December 31, 2020 and 2019, respectively. The aggregate amount of certificates of deposit originated by the Bank in denominations greater than $100,000 was approximately $762.9 million and $830.8 million at December 31, 2020 and 2019, respectively. The Bank utilizes brokered deposits as an additional funding source. The aggregate amount of brokered deposits was approximately $158.7 million and $371.7 million at December 31, 2020 and 2019, respectively.

At December 31, 2020, scheduled maturities of certificates of deposit were as follows:

​

​	​	​	​	​	​	​	​	​	​
​		Retail			Brokered			Total
​	​	(In Thousands)
​	​	​	​	​	​	​	​	​	​
2021	​	$	995,934	​	$	91,345	​	$	1,087,279
2022	​		175,913	​		13,751	​		189,664
2023	​		30,898	​		42,448	​		73,346
2024	​		14,647	​		11,200	​		25,847
2025	​		13,743	​		—	​		13,743
Thereafter	​		913	​		—	​		913
​	​	​	​	​	​	​	​	​	​
​	​	$	1,232,048	​	$	158,744	​	$	1,390,792

​

A summary of interest expense on deposits for the years ended December 31, 2020, 2019 and 2018, is as follows:

​

​	​	​	​	​	​	​	​	​	​
​	​	2020		​	2019		​	2018
​	​	(In Thousands)
​	​	​	​	​	​	​	​	​	​
Checking and savings accounts	​	$	7,096	​	$	7,971	​	$	5,982
Certificate accounts	​		25,453	​		37,723	​		22,149
Early withdrawal penalties	​		(118)	​		(124)	​		(174)
​	​	​	​	​	​	​	​	​	​
​	​	$	32,431	​	$	45,570	​	$	27,957

​

X

- 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

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X

- References

No definition available.

+ Details

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