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Deposits
 12 Months Ended
Dec. 31, 2021
Banking and Thrift, Interest [Abstract]  
Deposits Deposits
The Company has established overnight programs which sweep certain demand and interest checking accounts into money market investment accounts. Reported deposit balances do not reflect the impact of the overnight sweep programs. At December 31, 2021 and 2020, the Company swept $10.5 billion, and $6.6 billion, respectively, from demand deposit and interest checking balances into money market investments.
At December 31, 2021 and 2020, the Company had a balance of $1.6 million and $1.3 million, respectively, in overdrafts. Overdrafts are included in loans in the consolidated balance sheets.
The following table summarizes certificate of deposits by maturity at December 31, 2021:
BalancePercentage of Total
Year(Dollars in thousands)
2022$441,473 83.9 %
202353,806 10.2 %
202420,600 3.9 %
20256,225 1.2 %
20264,153 0.8 %
Thereafter124 — %
Total certificates of deposit$526,381 100.0 %
At December 31, 2021 and 2020, securities with a carrying value of $2.2 billion and $31.3 million, respectively, were pledged to secure public deposits and for other purposes required by law. At December 31, 2021 and 2020, securities pledged as collateral for deposits included Eastern Wealth Management cash accounts and municipal accounts which, at December 31, 2021, included approximately $2.1 billion in securities pledged as collateral for municipal accounts acquired from Century.
The FDIC offers insurance coverage on deposits up to the federally insured limit of $250,000. The amount of time deposits equal to or greater than $250,000, as of December 31, 2021 and 2020, was $224.0 million and $59.1 million, respectively.