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DEPOSITS (Tables)
12 Months Ended
Dec. 31, 2016
Deposit Liabilities  
Ending deposit balances

 

 

 

 

 

 

 

 

 

 

 

December 31,  (in thousands)

    

 

2016

    

2015

 

 

 

 

 

 

 

 

 

 

Demand

 

 

$

872,709

 

$

783,054

 

Money market accounts

 

 

 

541,622

 

 

501,059

 

Brokered money market accounts

 

 

 

360,597

 

 

200,126

 

Savings

 

 

 

164,410

 

 

117,408

 

Individual retirement accounts*

 

 

 

42,642

 

 

36,016

 

Time deposits, $250 and over*

 

 

 

37,200

 

 

42,775

 

Other certificates of deposit*

 

 

 

140,894

 

 

127,878

 

Brokered certificates of deposit*

 

 

 

28,681

 

 

44,298

 

 

 

 

 

 

 

 

 

 

Total interest-bearing deposits

 

 

 

2,188,755

 

 

1,852,614

 

Total noninterest-bearing deposits

 

 

 

971,937

 

 

634,863

 

 

 

 

 

 

 

 

 

 

Total deposits

 

 

$

3,160,692

 

$

2,487,477

 

 

 


*Represents a time deposit.

Schedule of time deposits of $250,000 or more

Time deposits at or above the FDIC insured limit of $250,000 are presented in the table below:

 

 

 

 

 

 

 

 

 

December 31, (in thousands)

    

2016

    

2015

 

 

 

 

 

 

 

 

 

Time deposits of $250 or more

 

$

37,200

 

$

42,775

 

 

Schedule of maturities of all time deposits, including brokered certificates of deposit

At December 31, 2016, the scheduled maturities and weighted average rate of all time deposits, including brokered certificates of deposit, were as follows:

 

 

 

 

 

 

 

 

 

    

 

 

    

Weighted

 

 

 

 

 

 

Average

 

Year (dollars in thousands)

 

Principal

 

Rate

 

 

 

 

 

 

 

 

2017

 

$

108,890

 

0.40

%  

2018

 

 

42,505

 

1.27

 

2019

 

 

39,932

 

1.78

 

2020

 

 

39,248

 

1.84

 

2021

 

 

18,819

 

1.65

 

Thereafter

 

 

23

 

1.68

 

Total

 

$

249,417

 

1.09

 

 

Cornerstone  
Deposit Liabilities  
Schedule of deposits liabilities acquired

 

 

 

 

 

 

 

 

 

 

 

 

 

May 17, 2016

(in thousands)

    

Contractual Principal

    

Fair Value Adjustment

 

Acquisition-Day Fair Value

 

 

 

 

 

 

 

 

 

 

Demand

 

$

59,507

 

$

 —

 

$

59,507

Money market accounts

 

 

53,773

 

 

 —

 

 

53,773

Savings

 

 

12,352

 

 

 —

 

 

12,352

Individual retirement accounts*

 

 

3,897

 

 

13

 

 

3,910

Time deposits, $250 and over*

 

 

3,385

 

 

12

 

 

3,397

Other certificates of deposit*

 

 

19,343

 

 

67

 

 

19,410

 

 

 

 

 

 

 

 

 

 

Total interest-bearing deposits

 

 

152,257

 

 

92

 

 

152,349

Total noninterest-bearing deposits

 

 

52,908

 

 

 —

 

 

52,908

 

 

 

 

 

 

 

 

 

 

Total deposits

 

$

205,165

 

$

92

 

$

205,257

*Represents a time deposit.