Interest-Bearing Deposits

12 Months Ended

Dec. 31, 2019

Components of interest-bearing deposits at December 31 were as follows:



	2019		2018
	(dollars in thousands)
Interest-bearing demand deposits	$	254,981	$	180,209
Savings deposits	3,896,536		3,401,354
Time deposits	835,851		850,216
Total interest-bearing deposits	$	4,987,368	$	4,431,779

Interest-bearing deposits at December 31, 2019 and 2018 include allocations from interest-bearing demand deposit accounts of $1.1 billion and $952.1 million, respectively, into savings, which includes money market accounts. These allocations are based on a formula and have been made to reduce First Commonwealth’s reserve requirement in compliance with regulatory guidelines.

Included in time deposits at December 31, 2019 and 2018 were certificates of deposit in denominations of $250 thousand or more of $143.9 million and $140.2 million, respectively.

Interest expense related to certificates of deposit in denominations of $250 thousand or greater amounted to $3.3 million in 2019, $1.6 million in 2018 and $0.5 million in 2017.

Included in time deposits at December 31, 2019, were certificates of deposit with the following scheduled maturities (dollars in thousands):



2020	$	586,365
2021	184,934
2022	34,250
2023	10,389
2024 and thereafter	19,913
Total	$	835,851