Note 7 - Deposits

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Deposit Liabilities Disclosures [Text Block]

7. Deposits

The following table displays deposit balances as of December 31, 2020, and December 31, 2019:

	As of December 31,
	2020		2019
	(In thousands)
Demand	$	3,365,086	$	2,871,444
NOW accounts		1,926,135		1,358,152
Money market accounts		3,359,191		2,260,764
Saving accounts		785,672		758,903
Time deposits		6,673,317		7,443,045
Total	$	16,109,401	$	14,692,308

Time deposits outstanding as of December 31, 2020, mature as follows.

	Expected Maturity Date at December 31,
	2021		2022		2023		2024		2025		Thereafter		Total
	(In thousands)
Time deposits	$	6,507,616	$	107,311	$	58,261	$	69	$	48	$	12	$	6,673,317

Accrued interest payable on customer deposits was $8.5 million at December 31, 2020, $22.3 million at December 31, 2019, and $10.5 million at December 31, 2018. The following table summarizes the interest expense on deposits by account type for the years ended December 31, 2020, 2019, and 2018:

	Year Ended December 31,
	2020		2019		2018
	(In thousands)
Interest bearing demand	$	2,816	$	2,371	$	2,718
Money market accounts		21,574		21,508		16,202
Saving accounts		1,006		1,432		1,583
Time deposits		111,629		152,791		86,368
Total	$	137,025	$	178,102	$	106,871

The aggregate amount of domestic time deposits in denominations that meet or exceed the current FDIC insurance limit of $250 thousand was $2.9 billion and $3.1 billion as of December 31, 2020 and 2019, respectively. Foreign offices' time deposits of $142.8 million and $192.9 million as of December 31, 2020 and 2019, respectively, were in denominations of $250 thousand or more.