Annual report pursuant to Section 13 and 15(d)

Deposits

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Deposits
 12 Months Ended
Dec. 31, 2012
Deposits

NOTE 8 — DEPOSITS

At December 31, 2012, the scheduled maturities of time deposits are as follows:

 

Year Ending

December 31,

    Time
Deposits of
$100,000 or
More		      Other
Time
Deposits 		     Total  
     (In Thousands)  

2013

    $ 444,247       $ 300,887       $ 745,134   

2014

      159,123         60,529         219,652   

2015

      12,817         4,658         17,475   

2016

      —         1,782         1,782   

2017 and Thereafter

      —         943         943   
  

 

 

     

 

 

     

 

 

  

Total

    $ 616,187       $ 368,799       $ 984,986   
  

 

 

     

 

 

     

 

 

  

A summary of interest expense on deposits was as follows for the periods indicated:

 

     Year Ended December 31,  
     2012      2011      2010  
     (In Thousands)  

Savings

    $ 2,152       $ 2,757       $ 3,439   

Money Market Checking and NOW Accounts

      3,085         3,461         4,936   

Time Deposits of $100,000 or More

      7,290         13,855         19,529   

Other Time Deposits

      3,350         3,885         6,504   
  

 

 

     

 

 

     

 

 

  

Total Interest Expense on Deposits

    $ 15,877       $ 23,958       $ 34,408   
  

 

 

     

 

 

     

 

 

  

Accrued interest payable on deposits totaled $3.5 million and $6.2 million at December 31, 2012 and 2011, respectively. Total deposits reclassified to loans due to overdrafts at December 31, 2012 and 2011 were $1.8 million and $2.4 million, respectively.

Pursuant to the Dodd-Frank Act, the maximum deposit insurance amount has been permanently increased to $250,000. As of December 31, 2012, time deposits of more than $250,000 were $238.2 million.