Deposits

12 Months Ended

Dec. 31, 2019

11.

DEPOSITS

Deposits are summarized as follows:

	December 31, 2019		December 31, 2018
	(dollars in thousands)
Demand deposits (non-interest bearing)	$	630,593	$	494,492
Interest bearing checking		450,098		431,702
Money market		181,406		135,585
Savings		914,499		628,212
Retail certificates of deposit under $100,000		56,602		36,223
Retail certificates of deposit $100,000 or greater		118,596		57,692
Wholesale certificates of deposit		7,084		27,504
Total deposits	$	2,358,878	$	1,811,410

Certificates of deposit had the following schedule of maturities:

	December 31, 2019		December 31, 2018
	(dollars in thousands)
Less than 3 months remaining	$	52,883	$	24,219
3 to 5 months remaining		47,701		17,486
6 to 11 months remaining		38,981		37,987
12 to 23 months remaining		31,501		28,529
24 to 47 months remaining		9,448		9,652
48 months or more remaining		1,768		3,546
Total certificates of deposit	$	182,282	$	121,419

Interest expense on retail certificates of deposit $100,000 or greater was $2.1 million, $467,000, and $446,000 for the years ended December 31, 2019, 2018, and 2017, respectively.

The aggregate amount of certificates of deposit in denominations that meet or exceed the FDIC insurance limit of $250,000 at December 31, 2019 and 2018 was $60.8 million and $31.8 million, respectively.

Related Party Deposits

Deposit accounts of directors, executive officers, and their respective affiliates totaled $7.2 million and $6.8 million as of December 31, 2019 and 2018, respectively.