Deposits

3 Months Ended

Mar. 31, 2022

Banking and Thrift, Other Disclosures [Abstract]

Deposits

Deposits

Peoples’ deposit balances were comprised of the following:

(Dollars in thousands)	March 31, 2022		December 31, 2021
Retail CDs:
$100 or more	$	305,357	$	320,574
Less than $100	307,579		323,185
Retail CDs	612,936		643,759
Interest-bearing deposit accounts	1,179,199		1,167,460
Savings accounts	1,065,678		1,036,738
Money market deposit accounts	656,266		651,169
Governmental deposit accounts	734,784		617,259
Brokered deposit accounts (a)	87,395		104,745
Total interest-bearing deposits	4,336,258		4,221,130
Non-interest-bearing deposits	1,666,668		1,641,422
Total deposits	$	6,002,926	$	5,862,552

Time deposits that met or exceeded the Federal Deposit Insurance Corporation ("FDIC") limit of $250,000 were $118.1 million and $121.3 million at March 31, 2022 and December 31, 2021, respectively.

The contractual maturities of retail CDs, brokered CDs and demand deposits for each of the next five years and thereafter are as follows:

(Dollars in thousands)	Retail		Brokered		Total
Remaining nine months ending December 31, 2022 (a)	$	366,748	$	86,901	$	453,649
Year ending December 31, 2023	121,358		494		121,852
Year ending December 31, 2024	69,069		—		69,069
Year ending December 31, 2025	25,252		—		25,252
Year ending December 31, 2026	26,079		—		26,079
Thereafter	4,430		—		4,430
Total CDs	$	612,936	$	87,395	$	700,331

(a) Brokered deposit accounts include $85.0 million of brokered demand deposits.

At March 31, 2022, Peoples had thirteen effective interest rate swaps, with an aggregate notional value of $125.0 million, of which $85.0 million were funded by brokered demand and savings deposits. Brokered demand deposits hedged by interest rate swaps are expected to be extended every 90 days through the maturity dates of the swaps. Additional information regarding Peoples' interest rate swaps can be found in "Note 10 Derivative Financial Instruments."