Annual report pursuant to Section 13 and 15(d)

DEPOSITS

v3.20.4
DEPOSITS
12 Months Ended
Dec. 31, 2020
DEPOSITS [Abstract]  
DEPOSITS
NOTE 7 – DEPOSITS

Deposits at year-end were as follows (dollars in thousands):

 
 
2020
   
2019
 
Noninterest-bearing demand
 
$
809,437
   
$
482,499
 
Interest bearing demand
   
642,918
     
479,341
 
Savings and money market accounts
   
742,685
     
639,329
 
Certificates of deposit
   
103,547
     
152,125
 
 
 
$
2,298,587
   
$
1,753,294
 

The following table depicts the maturity distribution of certificates of deposit at December 31, 2020 (dollars in thousands):

2021
 
$
82,133
 
2022
   
15,889
 
2023
   
3,819
 
2024
   
1,174
 
2025
   
475
 
Thereafter
   
57
 
 
 
$
103,547
 

Time deposits that exceed the FDIC insurance limit of $250,000 at year end 2020 and 2019 were approximately $28.8 million and $37.7 million, respectively.