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Deposits

12 Months Ended

Dec. 31, 2019

Deposits

Deposits

Note 11 – Deposits

The following table provides information regarding the Bank’s deposit composition at December 31, 2019, 2018, and 2017 as well as the average rate being paid on interest bearing deposits at December 31, 2019, 2018, and 2017.

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​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	2019				​	2018				​	2017				​
​	​	​	​	​	Average	​	​	​	​	Average	​	​	​	​	Average	​
(dollars in thousands)		Balance			Rate		Balance		​	Rate		Balance			Rate	​
Noninterest bearing demand	​	$	2,064,367		—	​	$	2,104,220		—	​	$	1,982,912		—	​
Interest bearing transaction	​		863,856		0.99	%		593,107		0.81	%		420,417		0.46	%
Savings and money market	​		3,013,129		1.42	%		2,949,559		1.68	%		2,621,146		0.70	%
Time, $100,000 or more	​		663,987		2.55	%		801,957		2.25	%		515,682		1.20	%
Other time	​		619,052		2.21	%		525,442		2.25	%		313,827		1.17	%
Total	​	$	7,224,391	​	​	​	$	6,974,285			​	$	5,853,984			​

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The remaining maturity of time deposits at December 31, 2019, 2018 and 2017 are as follows:

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​	​	​	​	​	​	​	​	​	​
(dollars in thousands)		2019			2018			2017
Three months or less	​	$	260,028	​	$	230,360	​	$	180,459
More than three months through twelve months	​		538,352	​		663,085	​		437,067
Over twelve months	​		484,659	​		433,954	​		211,983
Total	​	$	1,283,039	​	$	1,327,399	​	$	829,509

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Interest expense on deposits for the years ended December 31, 2019, 2018 and 2017 is as follows:

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​	​	​	​	​	​	​	​	​	​
(dollars in thousands)		2019			2018			2017
Interest bearing transaction	​	$	6,491	​	$	3,348	​	$	1,537
Savings and money market	​		50,042	​		35,534	​		17,284
Time, $100,000 or more	​		20,016	​		17,138	​		7,294
Other time	​		14,477	​		4,190	​		1,171
Total	​	$	91,026	​	$	60,210	​	$	27,286

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Related Party deposits totaled $136.2 million and $141.4 million at December 31, 2019 and 2018, respectively.

As of December 31, 2019, 2018 and 2017, time deposit accounts in excess of $250 thousand are as follows:.

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​	​	​	​	​	​	​	​	​	​
Time deposits $250,000 or more	​	​
(dollars in thousands)		2019			2018			2017
Three months or less	​	$	63,099	​	$	51,214	​	$	44,348
More than three months through twelve months	​		197,141	​		286,300	​		136,822
Over twelve months	​		90,361	​		108,273	​		98,519
Total	​	$	350,601	​	$	445,787	​	$	279,689

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- References

No definition available.

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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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