Deposits (Tables)

3 Months Ended

Mar. 31, 2020

Banking and Thrift [Abstract]

Schedule of Deposits

The following table presents the composition of deposits, which are classified as short-term or long-term based on their contractual maturities:

(In thousands)	March 31, 2020			December 31, 2019
Interest-bearing brokered money market deposits(a)	$	372,884		$	362,246
Customer deposits	100,719			112,571
Certificates of deposit with maturities within 1 year(a)(b)	663,520			835,996
Short-term deposits	1,137,123			1,310,813
Certificates of deposit with maturities greater than 1 year and less than 5 years(a)(b)	173,399			143,399
Total deposits	$	1,310,522		$	1,454,212
Weighted average cost of funds on certificates of deposit outstanding	2.52		%	2.57		%
Weighted average cost of interest-bearing brokered money market deposits	0.96		%	1.88		%

^(a) As of March 31, 2020 and December 31, 2019, all certificates of deposit and brokered money market deposits were in denominations of $250 thousand or less, corresponding to FDIC deposit insurance limits.

^(b) Original maturities range from 6 months to 5 years, with interest rates ranging from 1.45 percent to 3.52 percent as of March 31, 2020. At December 31, 2019, original maturities ranged from 4 months to 5 years with interest rates ranging from 1.80 percent to 3.52 percent.