DEPOSITS

6 Months Ended

Jun. 30, 2022

DEPOSITS

DEPOSITS

NOTE 7 – DEPOSITS

The Company’s deposits are summarized below:

	June 30, 2022		December 31, 2021
	(dollars in thousands)
Noninterest-bearing deposits	$	1,028,790	$	1,087,659
Interest-bearing deposits:
Interest-bearing demand		1,162,292		1,105,949
Money market		581,058		583,198
Savings		654,953		633,171
Time		274,893		328,208
Total interest-bearing deposits		2,673,196		2,650,526
Total deposits	$	3,701,986	$	3,738,185

Money market deposits include $4.2 million of brokered deposits as of December 31, 2021. Money market deposits also include $6.9 million and $6.9 million of reciprocal transaction deposits as of June 30, 2022 and December 31, 2021, respectively. Time deposits include $1.0 million and $0.9 million of reciprocal time deposits as of June 30, 2022, and December 31, 2021, respectively.

The aggregate amounts of time deposits in denominations of $250 thousand or more amounted to $25.4 million and $59.5 million as of June 30, 2022 and December 31, 2021, respectively. The aggregate amounts of time deposits in denominations of $100 thousand or more amounted to $90.5 million and $133.1 million as of June 30, 2022 and December 31, 2021, respectively.

The components of interest expense on deposits are as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
	(dollars in thousands)
Interest-bearing demand	$	144	$	127	$	286	$	244
Money market		110		94		231		183
Savings		52		46		102		87
Time		200		346		456		743
Total interest expense on deposits	$	506	$	613	$	1,075	$	1,257