CUSTOMER DEPOSIT ACCOUNTS

12 Months Ended

Dec. 31, 2012

13. CUSTOMER DEPOSIT ACCOUNTS

Customer deposit account balances are summarized as follows:

	December 31,
	2012		2011
	(In thousands)
Noninterest-bearing demand	$	4,535,877	$	3,492,795
Interest-bearing checking	1,230,372		971,179
Money market accounts	5,000,309		4,678,409
Savings deposits	1,421,182		1,164,618
Total core deposits	12,187,740		10,307,001

Time deposits:
Less than $100,000	1,884,577		2,186,604
$100,000 or greater	4,237,037		4,959,397
Total time deposits	6,121,614		7,146,001
Total deposits	$	18,309,354	$	17,453,002

The $4.24 billion and $4.96 billion balance of time deposits $100 thousand or greater at December 31, 2012 and 2011, includes $319.3 million and $264.6 million respectively, of deposits held by the Company’s foreign branch located in Hong Kong.

At December 31, 2012, the scheduled maturities of time deposits are as follows:

	$100,000 or		Less Than
	Greater		$100,000		Total
	(In thousands)

2013	$	3,554,815	$	1,658,151	$	5,212,966
2014	316,197		128,930		445,127
2015	52,027		49,466		101,493
2016	116,015		17,532		133,547
2017	149,052		30,493		179,545
Thereafter	48,931		5		48,936
Total	$	4,237,037	$	1,884,577	$	6,121,614

Accrued interest payable totaled $4.7 million and $7.1 million at December 31, 2012 and 2011, respectively. Interest expense on customer deposits by account type is summarized as follows:

	December 31,
	2012		2011		2010
	(In thousands)
Interest-bearing checking	$	3,163	$	3,009	$	2,349
Money market accounts	16,984		20,610		29,514
Savings deposits	2,795		2,988		3,986
Time deposits:
Less than $100,000	20,655		29,329		34,958
$100,000 or greater	32,298		51,174		45,930
Total	$	75,895	$	107,110	$	116,737

As of December 31, 2012, time deposits within the Certificate of Deposit Account Registry Service (“CDARS”) program decreased to $260.5 million, compared to $580.9 million at December 31, 2011. The CDARS program allows customers with deposits in excess of FDIC-insured limits to obtain full coverage on time deposits through a network of banks within the CDARS program. Additionally, the Company is partnered with another financial institution and offers a retail sweep product for non-time deposit accounts to provide added deposit insurance coverage for deposits in excess of FDIC-insured limits. Deposits gathered through these programs are considered brokered deposits under current regulatory reporting guidelines.

- Definition

The entire disclosure for deposit liabilities including data and tables. It may include a description of the entity's deposit liabilities, the aggregate amount of time deposits (including certificates of deposit) in denominations of $100,000 or more at the balance sheet date; the aggregate amount of any demand deposits that have been reclassified as loan balances, such as overdrafts, at the balance sheet date; deposits that are received on terms other than those in the normal course of business, the amount of accrued interest on deposit liabilities; securities, mortgage loans or other financial instruments that serve as collateral for deposits; for time deposits having a remaining term of more than one year, the aggregate amount of maturities for each of the five years following the balance sheet date; and the weighted average interest rate for all deposit liabilities held by the entity.

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