Deposits

Deposits at June 30, 2013 and 2012 consisted of the following:



(Dollars in Thousands)	June 30, 2013				June 30, 2012
(Dollars in Thousands)	Interest Rate	Amount			Interest Rate	Amount
Checking deposits – non interest-bearing	—	$	57,835		—	$	55,688
Checking deposits – interest-bearing ⁽¹⁾	0% - 0.25%	206,784			0% - 0.30%	204,524
Savings deposits ⁽¹⁾	0% - 1.00%	229,779			0% - 1.00%	226,051
Money market deposits ⁽¹⁾	0% - 2.00%	26,399			0% - 2.00%	29,382
Time deposits ⁽¹⁾
Under $100 ⁽²⁾	0.00% - 4.88%	206,039			0.00% - 4.88%	231,533
$100 and over	0.10% - 4.88%	196,174			0.25% - 4.88%	214,233
Total deposits		$	923,010			$	961,411
Weighted-average interest rate on deposits		0.66		%		0.76		%


⁽¹⁾	Certain interest-bearing checking, savings, money market and time deposits require a minimum balance to earn interest.


⁽²⁾	Includes brokered deposits of $4.7 million and $7.1 million at June 30, 2013 and 2012, respectively.

The aggregate annual maturities of time deposits at June 30, 2013 and 2012 were as follows:



(In Thousands)	June 30,
(In Thousands)	2013		2012
One year or less	$	255,594	$	223,696
Over one to two years	93,919		162,168
Over two to three years	33,193		37,158
Over three to four years	9,010		12,077
Over four to five years	8,930		9,049
Over five years	1,567		1,618
Total time deposits	$	402,213	$	445,766

Interest expense on deposits for the periods indicated is summarized as follows:



(In Thousands)	Year Ended June 30,
(In Thousands)	2013		2012		2011
Checking deposits – interest-bearing	$	283	$	481	$	807
Savings deposits	578		763		1,142
Money market deposits	117		156		212
Time deposits	5,607		7,015		8,099
Total interest expense on deposits	$	6,585	$	8,415	$	10,260

The Corporation is required to maintain reserve balances with the Federal Reserve Bank of San Francisco. Such reserves are calculated based on deposit balances and are offset by the cash balances maintained by the Bank. The cash balances maintained by the Bank at June 30, 2013 and 2012 were sufficient to cover the reserve requirements.