Note 8: Deposits

12 Months Ended

Dec. 31, 2019

Notes

Note 8: Deposits

Note 8:       Deposits

Deposits at December 31, 2019 and 2018, are summarized as follows:

	Weighted Average
	Interest Rate		2019		2018
		(In Thousands, Except Interest Rates)
Noninterest-bearing accounts	—	$	687,068	$	661,061
Interest-bearing checking and
savings accounts	0.55% and 0.46%		1,551,929		1,472,535
			2,238,997		2,133,596
Certificate accounts	0% - 0.99%		122,649		150,656
	1% - 1.99%		523,816		511,873
	2% - 2.99%		1,053,914		857,973
	3% - 3.99%		19,849		69,793
	4% - 4.99%		881		1,116
	5% and above		—		—
			1,721,109		1,591,411
		$	3,960,106	$	3,725,007

The weighted average interest rate on certificates of deposit was 2.09% and 1.98% at December 31, 2019 and 2018, respectively.

The aggregate amount of certificates of deposit originated by the Bank in denominations greater than $100,000 was approximately $830.8 million and $733.9 million at December 31, 2019 and 2018, respectively.  The Bank utilizes brokered deposits as an additional funding source.  The aggregate amount of brokered deposits was approximately $371.7 million and $326.9 million at December 31, 2019 and 2018, respectively.

At December 31, 2019, scheduled maturities of certificates of deposit were as follows:

		Retail		Brokered		Total
		(In Thousands)
2020	$	1,079,690	$	304,302	$	1,383,992
2021		185,122		—		185,122
2022		53,841		13,751		67,592
2023		17,762		42,448		60,210
2024		12,164		11,200		23,364
Thereafter		829		—		829
	$	1,349,408	$	371,701	$	1,721,109

A summary of interest expense on deposits for the years ended December 31, 2019, 2018 and 2017, is as follows:

		2019		2018		2017
		(In Thousands)
Checking and savings accounts	$	7,971	$	5,982	$	4,699
Certificate accounts		37,723		22,149		16,009
Early withdrawal penalties		(124)		(174)		(113)
	$	45,570	$	27,957	$	20,595