Annual report pursuant to Section 13 and 15(d)

DEPOSITS

v3.3.1.900
DEPOSITS
 12 Months Ended
Dec. 31, 2015
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)   2015     2014  
NOW Accounts   $ 848,330     $ 804,337  
Money Market Accounts     248,367       254,149  
Savings Deposits     269,162       233,612  
Other Time Deposits     178,707       195,581  
Total Interest Bearing Deposits   $ 1,544,566     $ 1,487,679  

 

At December 31, 2015 and 2014, $1.2 million and $2.4 million, respectively, in overdrawn deposit accounts were reclassified as loans.

 

Time deposits that meet or exceed the FDIC insurance limit of $250,000 totaled $10.4 million and $11.6 million at December 31, 2015 and December 31, 2014, respectively.

 

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

 

(Dollars in Thousands)   2015  
2016   $ 153,328  
2017     15,878  
2018     6,015  
2019     1,906  
2020 and thereafter     1,580  
Total   $ 178,707  

 

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

 

(Dollars in Thousands)   2015     2014     2013  
NOW Accounts   $ 254     $ 318     $ 482  
Money Market Accounts     134       190       211  
Savings Deposits     126       112       101  
Time Deposits < $250,000     377       463       505  
Time Deposits > $250,000     53       16       132  
Total   $ 944     $ 1,099     $ 1,431