Deposits

12 Months Ended

Dec. 31, 2020

Banking and Thrift1 [Abstract]

Deposits

DEPOSITS

The composition of the deposit portfolio is included in the table below for the years indicated:

	December 31, 2020		December 31, 2019
Demand deposits	$	6,821,152	$	5,250,568
Savings deposits	3,661,713		2,896,177
Certificates and other time deposits of $100,000 or more	346,194		736,843
Other certificates and time deposits	459,168		741,759
Brokered deposits	73,383		214,609
Total deposits	$	11,361,610	$	9,839,956

At December 31, 2020 and 2019, deposits exceeding the FDIC's Standard Maximum Deposit Insurance Amount of $250,000 were $6.4 billion and $5.1 billion, respectively. The Corporation experienced increases from December 31, 2019 in demand and savings accounts of $1.6 billion and $765.5 million, respectively. A portion of the increase is due to PPP loans that have remained on deposit, in addition to consumer Economic Impact Payments from the IRS that have also remained on deposit. Offsetting these increases were decreases in certificates of deposit and brokered deposits of $673.2 million and $141.2 million, respectively, from December 31, 2019. The low interest rate environment has resulted in customers migrating funds from maturing time deposit products into non-maturity products due to similar rates offered for both products.

At December 31, 2020, the contractual maturities of time deposits are summarized as follows:

	Certificates and Other Time Deposits
2021	$	651,861
2022	167,919
2023	35,367
2024	13,474
2025	9,287
After 2025	837
	$	878,745