Note 7 - Deposits

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Deposit Liabilities Disclosures [Text Block]

7.         Deposits

The following table displays deposit balances as of December 31, 2021, and December 31, 2020:

	As of December 31,
	2021		2020
	(In thousands)
Deposits
Non-interest-bearing demand deposits	$	4,492,054	$	3,365,086
Interest bearing demand deposits		2,522,442		1,926,135
Money market deposits		4,611,579		3,359,191
Savings deposits		915,515		785,672
Time deposits		5,517,252		6,673,317
Total deposits	$	18,058,842	$	16,109,401

Time deposits outstanding as of December 31, 2021, mature as follows.

	Expected Maturity Date at December 31,
	2022		2023		2024		2025		2026		Thereafter		Total
	(In thousands)
Time deposits	$	5,318,805	$	139,735	$	58,088	$	144	$	467	$	13	$	5,517,252

Accrued interest payable on customer deposits was $1.7 million at December 31, 2021, $8.5 million at December 31, 2020, and $22.3 million at December 31, 2019. The following table summarizes the interest expense on deposits by account type for the years ended December 31, 2021, 2020, and 2019:

	Year Ended December 31,
	2021		2020		2019
	(In thousands)
Interest bearing demand	$	2,249	$	2,816	$	2,371
Money market accounts		18,241		21,574		21,508
Saving accounts		769		1,006		1,432
Time deposits		40,542		111,629		152,791
Total	$	61,801	$	137,025	$	178,102

The aggregate amount of domestic time deposits in denominations that meet or exceed the current FDIC insurance limit of $250 thousand was $2.7 billion and $2.9 billion as of December 31, 2021, and 2020, respectively. Foreign offices’ time deposits of $156.9 million and $142.8 million as of December 31, 2021, and 2020, respectively, were in denominations of greater than $250 thousand.