Deposits

12 Months Ended

Dec. 31, 2021

Statistical Disclosure for Banks [Abstract]

Deposits

DEPOSITS

The composition of the deposit portfolio is included in the table below for the years indicated:

	December 31, 2021		December 31, 2020
Demand deposits	$	7,704,190	$	6,821,152
Savings deposits	4,334,802		3,661,713
Certificates and other time deposits of $100,000 or more	273,379		346,194
Other certificates and time deposits	389,752		459,168
Brokered deposits	30,454		73,383
Total deposits	$	12,732,577	$	11,361,610

At December 31, 2021 and 2020, deposits exceeding the FDIC's Standard Maximum Deposit Insurance Amount of $250,000 were $7.6 billion and $6.4 billion, respectively. The Corporation experienced increases from December 31, 2020 in demand and savings accounts of $883.0 million and $673.1 million, respectively. A portion of the increase is due to PPP loans that have remained on deposit, in addition to consumer Economic Impact Payments from the IRS that have also remained on deposit. Offsetting these increases were decreases in certificates of deposit and brokered deposits of $142.2 million and $42.9 million, respectively, from December 31, 2020. The low interest rate environment has resulted in customers migrating funds from maturing time deposit products into non-maturity products due to similar rates offered for both products.

At December 31, 2021, the contractual maturities of time deposits are summarized as follows:

	Certificates and Other Time Deposits
2022	$	548,203
2023	108,558
2024	15,506
2025	10,394
2026	9,662
After 2026	1,262
	$	693,585