Time Deposits

12 Months Ended

Dec. 31, 2021

Time deposits in denominations of $100,000 or more amounted to approximately $0.8 billion and $1.3 billion at December 31, 2021 and 2020, respectively. Time deposits in denominations of more than $250,000 amounted to approximately $423 million and $661 million at December 31, 2021 and 2020, respectively. The average interest rate paid on time deposits was approximately 1.55% in 2021 and 2.12% in 2020. As of December 31, 2021 and 2020 brokered time deposits amounted to $290 million and $494 million, respectively. At December 31, 2021 and 2020 the maturity of time deposits were as follows:


(in thousands, except percentages)	2021				2020
Year of Maturity	Amount		%		Amount		%
2021	$	—	—	%	$	1,359,022	66.6	%
2022	863,185		64.5	%	289,324		14.2	%
2023	367,526		27.5	%	301,907		14.8	%
2024	69,172		5.2	%	54,831		2.7	%
2025	20,595		1.5	%	20,530		1.0	%
2026 and thereafter	17,362		1.3	%	15,948		0.7	%
Total	$	1,337,840	100.0	%	$	2,041,562	100.0	%