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Deposits | 12 Months Ended
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Dec. 31, 2015
Deposits |
Deposits |
(7) | Deposits
The scheduled maturities of total time deposits as of the years ended December 31, 2015 and 2014 were as follows:
(in thousands) |  | 2015 |  |  | 2014 |
Due within: |  |  |  |  |  |  |  |
One year |  | $ | 201,418 |  |  | $ | 204,566 |
Two years |  |  | 56,026 |  |  |  | 58,177 |
Three years |  |  | 29,030 |  |  |  | 33,551 |
Four years |  |  | 6,022 |  |  |  | 16,760 |
Five years |  |  | 5,586 |  |  |  | 5,282 |
Thereafter |  |  | 0 |  |  |  | 1,347 |
Total |  | $ | 298,082 |  |  | $ | 319,683 |
At December 31, 2015 and 2014, the Company had certificates and other time deposits in denominations of $100,000 or more with maturities as follows:
(in thousands) |  | 2015 |  |  | 2014 |
Due within: |  |  |  |  |  |  |  |
Three months or less |  | $ | 39,122 |  |  | $ | 33,488 |
Over three months through six months |  |  | 30,704 |  |  |  | 29,381 |
Over six months through twelve months |  |  | 30,432 |  |  |  | 35,308 |
Over twelve months |  |  | 31,986 |  |  |  | 36,768 |
Total |  | $ | 132,244 |  |  | $ | 134,945 |
Total time deposits of more than $250,000 totaled $254.7 million and $253.9 million at December 31, 2015 and 2014, respectively. The Federal Reserve Bank required the Bank to maintain cash or balances of $1.6 million at December 31, 2015 and 2014 to satisfy reserve requirements. Average compensating balances held at correspondent banks were $544,000 and $408,000 at December 31, 2015 and 2014, respectively. The Bank maintains such compensating balances with correspondent banks to offset charges for services rendered by those banks.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 405 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=50488274&loc=d3e64164-112818 Reference 2: http://www.xbrl.org/2003/role/presentationRef -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 + Details
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- References No definition available. + Details
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