Quarterly report pursuant to Section 13 or 15(d)

Deposits

v3.20.2
Deposits
9 Months Ended
Sep. 30, 2020
Deposits By Component Alternative [Abstract]  
Deposits

NOTE 9. DEPOSITS

The following table sets forth the Company’s deposits by category for the periods presented:

 

 

 

September 30,

2020

 

 

December 31,

2019

 

 

 

(Dollars in thousands)

 

Noninterest-bearing demand deposits

 

$

667,199

 

 

$

444,822

 

Interest-bearing demand deposits

 

 

391,396

 

 

 

370,467

 

Interest-bearing NOW accounts

 

 

8,655

 

 

 

28,204

 

Savings and money market accounts

 

 

540,879

 

 

 

404,886

 

Time deposits

 

 

679,387

 

 

 

679,747

 

Total deposits

 

$

2,287,516

 

 

$

1,928,126

 

Time deposits $100,000 and greater

 

$

548,052

 

 

$

333,464

 

Time deposits $250,000 and greater

 

 

206,127

 

 

 

204,389

 

Related party deposits (executive officers and directors)

 

 

20,508

 

 

 

23,150

 

 

The aggregate amount of overdraft demand deposits reclassified to loans was $70 thousand and $129 thousand at September 30, 2020 and December 31, 2019, respectively. The aggregate amount of maturities for time deposits for each of the five years following the latest balance sheet date totaled $545.1 million, $101.3 million, $20.2 million, $5.9 million and $6.9 million, respectively. The Company held brokered certificates of deposit of $17.4 million and $6.0 million at September 30, 2020 and December 31, 2019, respectively.