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Deposits

12 Months Ended

Dec. 31, 2011

Deposits {2}

(7) Deposits

The following table reflects the summary of deposit categories by dollar and percentage at December 31, 2011 and 2010:

		December 31, 2011					December 31, 2010
(dollars in thousands)		Amount			Percent of Total		Amount			Percent of Total
Non-interest bearing demand deposits		$	122,843		37.0	%	$	91,501		35.5	%
Interest bearing demand deposits		20,739			6.2	%	33,632			13.0	%
Money market deposits and savings		142,061			42.7	%	72,757			28.2	%
Certificates of deposit		46,811			14.1	%	60,099			23.3	%
Total		$	332,454		100.0	%	$	257,989		100.0	%

At December 31, 2011, the Company had three certificates of deposits with the State of California Treasurer’s Office for a total of $34.0 million that represented 10.2% of total deposits. Each of these deposits are scheduled to mature in the first quarter of 2012. The Company intends to renew each of these deposits at maturity. However, given the current economic climate in the State of California, there can be no assurance that the State of California Treasurer’s Office will continue to maintain deposit accounts with the Company. At December 31, 2010, the Company had three certificate of deposit accounts with the State of California Treasurer’s Office for a total of $34.0 million that represented 13.2% of total deposits. The Company was required to pledge $37.4 million of agency mortgage backed securities at December 31, 2011 and 2010 in connection with these certificates of deposit.

At December 31, 2011, the Company had $3.4 million of Certificate of Deposit Accounts Registry Service (“CDARS”) reciprocal deposits, which represented 1.0% of total deposits. At December 31, 2010, the Company had $12.8 million of CDARS deposits, which represented 5.0% of total deposits.

The aggregate amount of certificates of deposit of $100,000 or more at December 31, 2011 and 2010 was $44.9 million and $57.6 million, respectively. At December 31, 2011, the maturity distribution of certificates of deposit of $100,000 or more, including deposit accounts with the State of California Treasurer’s Office and CDARS, was as follows: $37.6 million maturing in six months or less, $4.1 million maturing in six months to one year and $3.1 million maturing in more than one year.

The table below sets forth the range of interest rates, amount and remaining maturities of the certificates of deposit at December 31, 2011.

(dollars in thousands)		Six months and less			Greater than six months through one year			Greater than one year
0.00% to 0.99%		$	38,276		$	4,677		$	—
1.00% to 1.99%		671			—			3,187
Total		$	38,947		$	4,677		$	3,187

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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