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DEPOSITS

12 Months Ended

Dec. 31, 2020

Deposits [Abstract]

DEPOSITS

DEPOSITS

The following table summarizes deposits by type at December 31, 2020 and 2019.

			2020						2019
Noninterest-bearing			$	456,778					$	249,450
NOW and money market			1,327,459						963,672
Savings			176,425						142,832
Time ($250,000 or less)			334,280						450,490
Time (over $250,000)			61,938						69,078
Total			$	2,356,880					$	1,875,522

The following table summarizes scheduled future maturities of time deposits as of December 31, 2020.

2021			$	310,287
2022			45,029
2023			27,622
2024			6,718
2025			4,226
Thereafter			2,336
			$	396,218

Brokered time deposits totaled zero and $16.1 million at December 31, 2020 and 2019, respectively. Management evaluates brokered deposits as a funding option, taking into consideration regulatory views on such deposits as non-core funding sources. Time deposits that meet or exceed the FDIC limit of $250,000 at December 31, 2020 and 2019 totaled $61.9 million and $69.1 million, 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=120398452&loc=d3e534808-122878

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- References

No definition available.

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