Annual report pursuant to Section 13 and 15(d)

DEPOSITS

v2.4.1.9
DEPOSITS
 12 Months Ended
Dec. 31, 2014
Banking and Thrift [Abstract]  
DEPOSITS

Note 7

DEPOSITS

 

The composition of the Company’s interest bearing deposits at December 31 was as follows:

 

(Dollars in Thousands) 2014   2013  
NOW Accounts $ 804,337   $ 794,746  
Money Market Accounts   254,149     268,449  
Savings Deposits   233,612     211,668  
Other Time Deposits   195,581     219,922  
    Total Interest Bearing Deposits $ 1,487,679   $ 1,494,785  

 

At December 31, 2014 and 2013, $2.4 million and $2.8 million, respectively, in overdrawn deposit accounts were reclassified as loans.

 

Time deposits that meet or exceed the FDIC insurance limit of $250,000 totaled $11.6 million and $14.1 million at December 31, 2014 and December 31, 2013, respectively. 

At December 31, the scheduled maturities of time deposits were as follows:

 

(Dollars in Thousands)   2014  
2015   $ 165,989  
2016     19,108  
2017     6,882  
2018     1,876  
2019 and thereafter     1,726  
Total   $ 195,581  

 

Interest expense on deposits for the three years ended December 31, was as follows:

 

(Dollars in Thousands)   2014     2013     2012  
NOW Accounts   $ 318     $ 482     $ 634  
Money Market Accounts     190       211       255  
Savings Deposits     112       101       87  
Time Deposits < $250,000     463       505       912  
Time Deposits > $250,000     16       132       220  
Total   $ 1,099     $ 1,431     $ 2,108