Deposits

12 Months Ended

Dec. 31, 2019

Deposits [Abstract]

Deposits

Deposits

At December 31, 2019, the contractual maturities of time deposits, including brokered time deposits, are summarized as follows (in thousands):

2020	$	1,639,355
2021	187,367
2022	41,402
2023	12,451
2024	8,064
thereafter	56,444
Total time deposits	$	1,945,083

At December 31, 2019 and 2018, time deposits, excluding brokered time deposits, that met or exceeded the FDIC insurance limit of $250,000 totaled $367 million and $262 million, respectively.

At December 31, 2019 and 2018, United held $85.5 million and $544 million, respectively, in certificates of deposit obtained through third party brokers. The daily average balance of these brokered deposits totaled $241 million and $347 million in 2019 and 2018, respectively. The brokered certificates of deposit at December 31, 2019 had maturities ranging from 2020 through 2033 and are callable by United. United has certain market-linked brokered deposits that are considered hybrid instruments that contain embedded derivatives that have been bifurcated from the host contract leaving host instruments paying a rate of 90 day London Interbank Offered Rate (“LIBOR”) minus a spread that, at times, has resulted in a negative yield.