Deposits

6 Months Ended

Jun. 30, 2021

Text Block [Abstract]

Deposit Liabilities Disclosures

Deposits

Peoples’ deposit balances were comprised of the following:

(Dollars in thousands)	June 30, 2021		December 31, 2020
Retail CDs:
$100,000 or more	$	199,597	$	220,532
Less than $100,000	217,869		225,398
Retail CDs	417,466		445,930
Interest-bearing deposit accounts	732,478		692,113
Savings accounts	689,086		628,190
Money market deposit accounts	547,412		591,373
Governmental deposit accounts	498,390		385,384
Brokered deposit accounts (a)	166,746		170,146
Total interest-bearing deposits	3,051,578		2,913,136
Non-interest-bearing deposits	1,181,045		997,323
Total deposits	$	4,232,623	$	3,910,459

(a) Brokered deposit accounts include $50.0 million of 90-day brokered CDs and $110.0 million of

brokered demand deposits.

Time deposits that meet or exceed the Federal Deposit Insurance Corporation ("FDIC") limit of $250,000 were $70.5 million and $89.0 million at June 30, 2021 and December 31, 2020, respectively.

The contractual maturities of retail CDs and brokered CDs and demand deposits for each of the next five years and thereafter are as follows:

(Dollars in thousands)	Retail		Brokered		Total
Remaining six months ending December 31, 2021 (a)	$	194,268	$	162,051	$	356,319
Year ending December 31, 2022	129,533		4,205		133,738
Year ending December 31, 2023	33,191		490		33,681
Year ending December 31, 2024	39,483		—		39,483
Year ending December 31, 2025	11,855		—		11,855
Thereafter	9,136		—		9,136
Total CDs	$	417,466	$	166,746	$	584,212

(a) Brokered deposit accounts include $50.0 million of 90-day brokered CDs and $110.0 million of brokered demand deposits.

At June 30, 2021, Peoples had seventeen effective interest rate swaps, with an aggregate notional value of $160.0 million, of which $50.0 million were funded by 90-day brokered CDs and $110.0 million were funded by brokered demand and savings deposits. Brokered CDs and deposits used to fund interest rate swaps are expected to be extended every 90 days through the maturity dates of the swaps. Additional information regarding Peoples' interest rate swaps can be found in "Note 9 Derivative Financial Instruments."