Deposits |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Deposits | Deposits The following table presents the composition of our deposits as of the dates indicated:
The Company had $6.2 million and $7.8 million in reciprocal time deposits through the CDARS program as of March 31, 2021 and December 31, 2020, respectively. Included in interest-bearing checking and money market deposits at March 31, 2021 and December 31, 2020 were $17.2 million and $14.8 million, respectively, of reciprocal deposits in the ICS program. The CDARS and ICS programs coordinate, on a reciprocal basis, a network of banks to spread deposits exceeding the FDIC insurance coverage limits out to numerous institutions in order to provide insurance coverage for all participating deposits. As of March 31, 2021 and December 31, 2020, the Company had public entity deposits that were collateralized by investment securities of $244.9 million and $156.7 million, respectively.
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