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Deposits

12 Months Ended

Dec. 31, 2019

Deposits [Abstract]

Deposits

(10) Deposits

At December 31, 2019 and 2018, time deposits amounted to $477,422,000 and $486,329,000, respectively.  Interest expense on certificates of deposit amounted to $9,223,000, $4,906,000, and $2,570,000 for the years ended December 31, 2019, 2018, and 2017, respectively.  The aggregate amount of demand deposit overdrafts that were reclassified as loans were $84,000 at December 31, 2019, compared to $356,000 as of December 31, 2018.

Time deposits at December 31, 2019 mature as follows:

(Dollars in thousands)		Time Deposits
		Less than $250,000				$250,000 or more
Maturing in 2020		$	205,264			$	68,421
Maturing in 2021			111,886				16,071
Maturing in 2022			23,691				4,778
Maturing in 2023			38,324				3,720
Maturing in 2024			4,282				284
Maturing thereafter			701				—
		$	384,148			$	93,274

Brokered deposits included in the time deposit totals equaled $13,326,000 at December 31, 2019 and $56,188,000 at December 31, 2018.  Deposits and other funds from related parties held by Mid Penn at December 31, 2019 and 2018 amounted to $54,360,000 and $27,399,000, respectively.

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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=6876686&loc=d3e534808-122878

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- References

No definition available.

+ Details

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