Deposits (Tables)

12 Months Ended

Dec. 31, 2020

Deposits Liabilities, Balance Sheet, Reported Amounts [Abstract]

Schedule of deposit composition and average interest rates

The following table provides information regarding the Bank’s deposit composition at December 31, 2020 and 2019 as well as the average rate being paid on interest bearing deposits for the month of December 2020 and 2019.


	2020				2019
(dollars in thousands)	Balance		Average Rate		Balance		Average Rate
Noninterest bearing demand	$	2,809,334	—		$	2,064,367	—
Interest bearing transaction	756,923		0.25	%	863,856		0.99	%
Savings and money market	4,645,186		0.37	%	3,013,129		1.42	%
Time, $100,000 or more	546,173		1.08	%	663,987		2.55	%
Other time	431,587		1.92	%	619,052		2.21	%
Total	$	9,189,203			$	7,224,391

Schedule of maturity of time deposits

The remaining maturity of time deposits at December 31, 2020 and 2019 are as follows:


(dollars in thousands)	2020		2019
Three months or less	$	201,312	$	260,028
More than three months through twelve months	325,329		538,352
Over twelve months	451,119		484,659
Total	$	977,760	$	1,283,039

Schedule of interest expense on deposits

Interest expense on deposits for the years ended December 31, 2020, 2019 and 2018 is as follows:


(dollars in thousands)	2020		2019		2018
Interest bearing transaction	$	3,190	$	6,491	$	3,348
Savings and money market	26,272		50,042		35,534
Time, $100,000 or more	13,464		20,016		17,138
Other time	10,640		14,477		4,190
Total	$	53,566	$	91,026	$	60,210

Schedule of time deposit accounts in excess of $250 thousand

As of December 31, 2020 and 2019, time deposit accounts in excess of $250 thousand are as follows:


Time deposits $250,000 or more
(dollars in thousands)	2020		2019
Three months or less	$	32,967	$	63,099
More than three months through twelve months	169,830		197,141
Over twelve months	28,280		90,361
Total	$	231,077	$	350,601