Note 10 - Deposits

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Deposit Liabilities Disclosures [Text Block]

(10) Deposits

The composition of the Bank’s deposits follows:

December 31, (in thousands)	2019		2018
Non-interest bearing demand deposits	$	810,475	$	711,023
Interest bearing deposits:
Interest bearing demand		979,595		892,867
Savings		169,622		155,007
Money market		742,029		688,744
Time deposits of $250,000 or more		81,412		55,182
Other time deposits		350,805		291,533
Total time deposits(1)		432,217		346,715
Total interest bearing deposits		2,323,463		2,083,333
Total deposits	$	3,133,938	$	2,794,356

(1) Includes $30 million in brokered deposits as of December 31, 2019 and 2018.

Deposits totaling $126 million were acquired on May 1, 2019, associated with the KSB acquisition.

Interest expense related to certificates of deposit and other time deposits in denominations of $250,000 or more was $1.3 million, $431,000 and $161,000, for the years ended December 31, 2019, 2018 and 2017.

At December 31, 2019, the scheduled maturities of all time deposits were as follows:

(in thousands)
2020	$	273,568
2021		129,676
2022		11,729
2023		10,049
2024		7,094
2025 and thereafter		101
Total time deposits	$	432,217

Deposits of directors and their associates, including deposits of companies for which directors are principal owners, and executive officers were $81 million and $42 million at December 31, 2019 and 2018, respectively.

At December 31, 2019 and 2018, Bancorp had $692,000 and $886,000 of deposits accounts in overdraft status and thus have been reclassified to loans on the accompanying consolidated balance sheets.