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Deposits (Tables)
12 Months Ended
Dec. 31, 2019
Deposits  
Schedule of deposit composition and average interest rates

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.

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

 

  

Schedule of maturity of time deposits

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

(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

Schedule of interest expense on deposits

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

(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

Schedule of time deposit accounts in excess of $250 thousand

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

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