DEPOSITS

12 Months Ended

Dec. 31, 2021

DEPOSITS

DEPOSITS

NOTE 10 – DEPOSITS

The Company’s deposits are summarized below as December 31:

	December 31, 2021		December 31, 2020
	(dollars in thousands)
Noninterest-bearing deposits	$	1,087,659	$	882,939
Interest-bearing deposits:
Interest-bearing demand		1,105,949		968,592
Money market		583,198		462,056
Savings		633,171		517,473
Time		328,208		299,474
Total interest-bearing deposits		2,650,526		2,247,595
Total deposits	$	3,738,185	$	3,130,534

Money market deposits include $4,238,000 of brokered deposits as of December 31, 2021. Money market deposits also include $6,895,000 and $6,489,000 of reciprocal transaction deposits as of December 31, 2021 and 2020, respectively. Time deposits include $850,000 and $3,164,000 of reciprocal time deposits as of December 31, 2021 and 2020, respectively.

The aggregate amounts of time deposits in denominations of $250,000 or more amounted to $59,512,000 and $26,687,000 as of December 31, 2021 and 2020, respectively. The aggregate amounts of time deposits in denominations of $100,000 or more amounted to $133,067,000 and $99,649,000 as of December 31, 2021 and 2020, respectively.

At December 31, 2021, the scheduled maturities of time deposits are as follows (dollars in thousands):

Year ended December 31,
2022	$	235,100
2023		64,106
2024		13,179
2025		9,042
2026		6,562
Thereafter		219
Total	$	328,208

The components of interest expense on deposits for the years ended December 31 are as follows:

	Year Ended December 31,
	2021		2020		2019
	(dollars in thousands)
Interest-bearing demand	$	518	$	647	$	1,474
Money market		437		697		1,837
Savings		188		196		278
Time		1,329		2,681		4,343
Total interest expense on deposits	$	2,472	$	4,221	$	7,932