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Deposit Distribution
(dollars in thousands)
2015
2014
2013
2012
2011
Interest Bearing Demand Deposits
125,210
$
110,840
$
82,408
$
84,655
$
68,777
$
Non-interest Bearing Demand Deposits
432,251
390,897
365,997
352,597
300,045
NOW
306,630
275,494
200,313
196,771
187,155
Savings
193,052
167,655
144,162
118,547
91,376
Money Market
101,562
117,907
73,132
71,222
76,396
CDAR's < $100,000
306
572
437
791
943
CDAR's ≥ $100,000
13,803
10,727
12,919
14,274
17,119
Customer Time deposit < $100,000
75,069
79,292
79,261
101,893
106,610
Customer Time deposits ≥ $100,000
216,745
208,311
205,550
218,284
222,847
Brokered Deposits
-
5,000
10,000
15,000
15,000
Total Deposits
1,464,628
$
1,366,695
$
1,174,179
$
1,174,034
$
1,086,268
$
Percentage of Total Deposits
Interest Bearing Demand Deposits
8.55% 8.11% 7.02% 7.21% 6.33%
Non-interest Bearing Demand Deposits
29.51% 28.60% 31.17% 30.03% 27.62%
NOW
20.94% 20.16% 17.06% 16.76% 17.23%
Savings
13.18% 12.27% 12.28% 10.10% 8.41%
Money Market
6.93% 8.63% 6.23% 6.07% 7.03%
CDAR's < $100,000
0.02% 0.04% 0.04% 0.07% 0.09%
CDAR's ≥ $100,000
0.94% 0.78% 1.10% 1.22% 1.58%
Customer Time deposit < $100,000
5.13% 5.80% 6.75% 8.68% 9.81%
Customer Time deposits > $100,000
14.80% 15.24% 17.50% 18.58% 20.52%
Brokered Deposits
-
0.37% 0.85% 1.28% 1.38%
Total
100.00% 100.00% 100.00% 100.00% 100.00%
Year Ended December 31,
Total deposit balances increased by $98 million, or 7%, during 2015 due to strong organic growth in core non-maturity
deposits. Non-maturity deposits were up $96 million, or 9%, for the year. The growth in non-maturity deposits during
2015 occurred in transaction accounts, comprised of demand deposits and NOW accounts, which increased $87 million,
or 11%, and savings deposits, which increased $25 million, or 15%. Money market deposits were down $16 million,
or 14%, however, as there is not currently a significant rate advantage for customers in money market deposits versus
more liquid interest-bearing demand accounts. Total time deposits were up $2 million, or 1%, due to a $20 million
increase in our deposits from the State of California that was largely offset by a $5 million reduction in wholesale
brokered deposits and runoff in other customer time deposits. Management is of the opinion that a relatively high level
of core customer deposits is one of the Company’s key strengths and we continue to strive for deposit retention and
growth, although no assurance can be provided with regard to future core deposit increases or runoff.