Deposits

Deposits at June 30, 2015 and 2014 consisted of the following:



(Dollars in Thousands)	June 30, 2015				June 30, 2014
(Dollars in Thousands)	Interest Rate	Amount			Interest Rate	Amount
Checking deposits – non interest-bearing	—	$	67,538		—	$	58,654
Checking deposits – interest-bearing⁽¹⁾	0% - 0.35%	224,090			0% - 0.35%	202,769
Savings deposits⁽¹⁾	0% - 1.00%	255,090			0% - 1.00%	239,429
Money market deposits⁽¹⁾	0% - 2.00%	31,672			0% - 2.00%	26,125
Time deposits:⁽¹⁾
Under $100⁽²⁾	0.00% - 3.90%	171,135			0.00% - 3.90%	184,895
$100 and over	0.10% - 2.96%	174,561			0.10% - 3.79%	185,998
Total deposits		$	924,086			$	897,870
Weighted-average interest rate on deposits		0.50		%		0.56		%


⁽¹⁾	Certain interest-bearing checking, savings, money market and time deposits require a minimum balance to earn interest.


⁽²⁾	Includes brokered deposits of $3.0 million and $3.0 million at June 30, 2015 and 2014, respectively.

The aggregate annual maturities of time deposits at June 30, 2015 and 2014 were as follows:



(In Thousands)	June 30,
(In Thousands)	2015		2014
One year or less	$	174,005	$	173,519
Over one to two years	79,944		104,042
Over two to three years	20,963		52,705
Over three to four years	38,172		8,761
Over four to five years	32,612		31,711
Over five years	—		155
Total time deposits	$	345,696	$	370,893

Interest expense on deposits for the periods indicated is summarized as follows:



(In Thousands)	Year Ended June 30,
(In Thousands)	2015		2014		2013
Checking deposits – interest-bearing	$	314	$	290	$	283
Savings deposits	641		606		578
Money market deposits	105		95		117
Time deposits	3,701		4,504		5,607
Total interest expense on deposits	$	4,761	$	5,495	$	6,585

The Corporation is required to maintain reserve balances with the Federal Reserve Bank of San Francisco. Such reserves are calculated based on deposit balances and are offset by the cash balances maintained by the Bank. The cash balances maintained by the Bank at June 30, 2015 and 2014 were sufficient to cover the reserve requirements.