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Deposits

12 Months Ended

Dec. 31, 2019

Deposits [Abstract]

Deposits

NOTE 9 – Deposits

The following is a detail of the deposit accounts:

		December 31,
(dollars in thousands)		2019			2018
Noninterest bearing		$	397,331		346,570
Interest bearing:
NOW accounts			228,680		186,795
Money market accounts			898,923		730,765
Savings			16,258		15,486
Time, less than $100,000			47,941		63,073
Time, $100,000 and over			286,991		305,447
Total deposits		$	1,876,124		1,648,136

At December 31, 2019 and 2018, time deposits greater than $250,000 were $220.1 million and $214.0 million, respectively.

Also, at December 31, 2019 and 2018, the Company had approximately $67.4 million and $79.3 million, respectively, of time deposits that were obtained outside of the Company’s primary market. Interest expense on time deposits greater than $100,000 was $6.9 million for the year ended December 31, 2019, $4.7 million for the year ended December 31, 2018, and $2.7 million for the year ended December 31, 2017.

At December 31, 2019 the scheduled maturities of certificates of deposit are as follows:

(dollars in thousands)
2020		$	277,342
2021			38,528
2022			10,783
2023			6,133
2024 and after			2,146
		$	334,932

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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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X

- References

No definition available.

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