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Deposits

6 Months Ended

Jun. 30, 2021

Deposits.

Deposits

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10. Deposits

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The major components of interest-bearing and noninterest-bearing deposits at June 30, 2021 and December 31, 2020 are summarized as follows:

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​	​	​	​	​	​	​	​
At the period end		June 30, 2021			December 31, 2020
Interest-bearing deposits:	​	​	​	​	​	​	​
Money market accounts	​	$	559,719	​	$	496,634	​
Now accounts	​		609,586	​		567,087	​
Savings accounts	​		469,993	​		431,224	​
Time deposits less than $250	​		209,772	​		221,446	​
Time deposits $250 or more	​		90,422	​		98,247	​
Total interest-bearing deposits	​		1,939,492	​		1,814,638	​
Noninterest-bearing deposits	​		672,274	​		622,475	​
Total deposits	​	$	2,611,766	​	$	2,437,113	​

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The growth in deposits occurred in non-maturity deposits as demand for liquid accounts elevated due to low interest rates. Strong organic growth of core deposits from new and existing relationships, inflows of public fund deposits, proceeds of PPP loans retained on deposit by our commercial borrowers, and federal government stimulus payments contributed to the increase. Time deposits less than $250 decreased due to $12.5 million of matured brokered deposits. Time deposits $250 thousand or more decreased due to the maturity of a few large public fund certificates of deposit.

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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

+ Details

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- References

No definition available.

+ Details

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