Annual report pursuant to Section 13 and 15(d)

Deposits

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Deposits
 12 Months Ended
Dec. 31, 2011
Deposits and FHLB Advances and Other Borrowing [Abstract]  
DEPOSITS

NOTE 8 — DEPOSITS

At December 31, 2011, 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)  

2012

   $ 746,537     $ 303,390     $ 1,049,927  

2013

     73,813       18,734       92,547  

2014

     1,815       10,316       12,131  

2015

     —       659       659  

2016 and Thereafter

     —       662       662  
   

 

 

    

 

 

    

 

 

  

Total

   $ 822,165     $ 333,761     $ 1,155,926  
   

 

 

    

 

 

    

 

 

  

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

 

                         
    Year Ended December 31,  
    2011     2010     2009  
    (In Thousands)  

Savings

   $ 2,757     $ 3,439     $ 2,328  

Money Market Checking and NOW Accounts

     3,461       4,936       9,786  

Time Deposits of $100,000 or More

     13,855       19,529       34,807  

Other Time Deposits

     3,885       6,504       29,325  
   

 

 

    

 

 

    

 

 

  

Total Interest Expense on Deposits

   $ 23,958     $ 34,408     $ 76,246  
   

 

 

    

 

 

    

 

 

  

Accrued interest payable on deposits totaled $6.2 million and $9.1 million at December 31, 2011 and 2010, respectively. Total deposits reclassified to loans due to overdrafts at December 31, 2011 and 2010 were $2.4 million and $2.6 million, respectively.

Pursuant to the Dodd-Frank Act, the maximum deposit insurance amount has been permanently increased to $250,000 and all non-interest-bearing transaction accounts are insured. As of December 31, 2011, time deposits of more than $250,000 were $341.3 million.