Deposits

3 Months Ended

Mar. 31, 2022

A summary of the balances of deposits follows:


(in thousands)	March 31, 2022		December 31, 2021
Noninterest-bearing demand	$	3,583,269	$	2,979,882
Interest-bearing demand	1,788,639		1,568,682
Savings	2,993,873		2,520,959
Time certificates, $250,000 or more	57,126		44,652
Other time certificates	291,570		252,984
Total deposits	$	8,714,477	$	7,367,159

Certificate of deposit balances of $1,000,000 from the State of California were included in time certificates, over $250,000, at March 31, 2022 and December 31, 2021, respectively. The Company participates in a deposit program offered by the State of California whereby the State may make deposits at the Company’s request subject to collateral and credit worthiness constraints. The negotiated rates on these State deposits are generally more favorable than other wholesale funding sources available to the Company. Overdrawn deposit balances of $1,399,000 and $2,324,000 were classified as consumer loans at March 31, 2022 and December 31, 2021, respectively.