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Deposits
12 Months Ended
Dec. 31, 2013
Deposits  
Deposits

(9) Deposits

 

The composition of interest bearing deposits follows:

 

 

 

December 31,

 

(In thousands)

 

2013

 

2012

 

 

 

 

 

 

 

Interest bearing demand

 

$

462,291

 

$

345,739

 

Savings

 

101,551

 

84,795

 

Money market

 

643,787

 

579,686

 

Time deposits greater than $250,000

 

40,604

 

45,888

 

Other time deposits

 

309,354

 

329,426

 

 

 

 

 

 

 

 

 

$

1,557,587

 

$

1,385,534

 

 

Interest expense related to certificates of deposit and other time deposits in denominations of $100,000 or more was $1,307,000, $1,855,000, and $2,575,000, respectively, for the years ended December 31, 2013, 2012 and 2011.

 

At December 31, 2013, the scheduled maturities of time deposits were as follows:

 

(In thousands)

 

 

 

 

 

 

 

2014

 

$

228,459

 

2015

 

78,308

 

2016

 

23,534

 

2017

 

13,950

 

2018 and thereafter

 

5,707

 

 

 

$

349,958

 

 

Deposits of directors and their associates, including deposits of companies for which directors are principal owners, and executive officers were $19,088,000 and $29,819,000 at December 31, 2013 and 2012, respectively.

 

At December 31, 2013 and 2012, Bancorp had $986,000 and $814,000, respectively, of deposits accounts in overdraft status and thus have been reclassified to loans on the accompanying consolidated balance sheets.