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Certificates of Deposit

12 Months Ended

Dec. 31, 2020

Deposits [Abstract]

Certificates of Deposit

Certificates of Deposit

The following table represents the breakdown of certificates of deposit at December 31, 2020 and 2019:

			December 31, 2020						December 31, 2019
Certificates of deposit < $100,000			$	246,875,000					$	277,225,000
Certificates $100,000 to $250,000			295,672,000						345,241,000
Certificates $250,000 and over			63,038,000						67,513,000
			$	605,585,000					$	689,979,000

At December 31, 2020, the scheduled maturities of certificates of deposit are as follows:

Year of Maturity			Less than $100,000						$100,000 and Greater						All Certificates of Deposit
2021			$	205,853,000					$	294,486,000					$	500,339,000
2022			16,889,000						21,411,000						38,300,000
2023			14,064,000						33,119,000						47,183,000
2024			4,562,000						4,926,000						9,488,000
2025			5,363,000						4,768,000						10,131,000
2026 and thereafter			144,000						—						144,000
			$	246,875,000					$	358,710,000					$	605,585,000

Interest on certificates of deposit of $100,000 or more was $5,327,000, $6,060,000, and $3,038,000 in 2020, 2019 and 2018, respectively.

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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

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- References

No definition available.

+ Details

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