DEPOSITS

9 Months Ended

Sep. 30, 2020

A summary of deposits at September 30, 2020 and December 31, 2019 is as follows:


(Dollars in thousands)	September 30, 2020		December 31, 2019
Time deposits	$	3,153,215	$	3,526,688
Money market savings	1,589,428		1,330,585
Interest-bearing demand	369,056		222,509
Money market checking	86,208		111,338
Noninterest-bearing demand	78,773		43,597
Total	$	5,276,680	$	5,234,717

The Company had time deposits with a denomination of $100 thousand or more totaling $2.6 billion at both September 30, 2020 and December 31, 2019, respectively.

The Company had time deposits that met or exceeded the FDIC insurance limit of $250 thousand of $1.4 billion at both September 30, 2020 and December 31, 2019.

The Company utilizes brokered deposits as an additional source of funding. The Company had brokered deposits of $95.0 million and $416.0 million at September 30, 2020 and December 31, 2019, respectively. The decrease in brokered deposits during the nine months ended September 30, 2020 was due to the decision by the Company to reduce excess liquidity in the form of low yielding cash and cash equivalents.

Maturities of the Company’s time deposits at September 30, 2020 are summarized as follows (dollars in thousands):


October 1 - December 31, 2020	$	414,864
2021	2,522,508
2022	196,717
2023	6,802
2024	5,511
Thereafter	6,813
Total	$	3,153,215