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Deposits
12 Months Ended
Dec. 31, 2013
Deposits  
Deposits

(7)            Deposits

 

Deposits are summarized as follows:

 

 

 

At December 31,

 

 

2013

 

2012

(Dollars in Thousands)

 

Weighted
Average
Rate

Balance

Percent
of Total

Weighted
Average
Rate

Balance

Percent
of Total

Core deposits:

 

 

 

 

 

 

 

 

 

 

 

 

 

Savings

 

0.05

%

 

$

2,493,899

 

25.31

%

 

0.05

%

 

$

2,802,298

 

26.83

%

 

Money market

 

0.25

 

 

1,972,136

 

20.01

 

 

0.74

 

 

1,586,556

 

15.19

 

 

NOW

 

0.06

 

 

1,231,890

 

12.50

 

 

0.05

 

 

1,259,771

 

12.06

 

 

Non-interest bearing NOW and demand deposit

 

-

 

 

865,588

 

8.78

 

 

-

 

 

834,962

 

8.00

 

 

Total core deposits

 

0.11

 

 

6,563,513

 

66.60

 

 

0.21

 

 

6,483,587

 

62.08

 

 

Certificates of deposit

 

1.50

 

 

3,291,797

 

33.40

 

 

1.55

 

 

3,960,371

 

37.92

 

 

Total deposits

 

0.57

%

 

$

9,855,310

 

100.00

%

 

0.72

%

 

$

10,443,958

 

100.00

%

 

 

The aggregate amount of certificates of deposit with balances equal to or greater than $100,000 was $1.06 billion at December 31, 2013 and $1.25 billion at December 31, 2012.  There were no brokered certificates of deposit at December 31, 2013 and 2012.

 

Certificates of deposit at December 31, 2013 have scheduled maturities as follows:

 

Year

 

Weighted
Average
Rate

Balance

Percent
of
Total

 

 

 

 

 

(In Thousands)

 

 

2014

 

0.97

%

 

$  1,476,676

 

44.86

%

 

2015

 

2.06

 

 

1,099,849

 

33.41

 

 

2016

 

2.08

 

 

462,897

 

14.06

 

 

2017

 

1.13

 

 

141,099

 

4.29

 

 

2018

 

1.06

 

 

110,552

 

3.36

 

 

2019 and thereafter

 

1.57

 

 

724

 

0.02

 

 

Total

 

1.50

%

 

$  3,291,797

 

100.00

%

 

 

Interest expense on deposits is summarized as follows:

 

 

 

For the Year Ended December 31,

(In Thousands)  

 

2013

2012

2011

Savings

 

$

1,329

 

$

4,437

 

$

9,562

 

Money market

 

5,646

 

8,944

 

4,551

 

Interest-bearing NOW

 

691

 

978

 

1,175

 

Certificates of deposit

 

54,951

 

83,662

 

122,761

 

Total interest expense on deposits

 

$

62,617

 

$

98,021

 

$

138,049