Atlantic Union Bankshares Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

DEPOSITS

DEPOSITS

12 Months Ended

Dec. 31, 2014

DEPOSITS [Abstract]

DEPOSITS

7.DEPOSITS

The major types of interest-bearing deposits are as follows for the years ending (dollars in thousands):


	2014		2013
Interest-bearing deposits:
NOW accounts	$	1,332,029	$	498,068
Money market accounts		1,261,520		940,215
Savings accounts		548,526		235,034
Time deposits of $250,000 and over		175,933		153,209
Other time deposits		1,121,384		718,642
Total interest-bearing deposits	$	4,439,392	$	2,545,168

As of December 31, 2014, the scheduled maturities of time deposits are as follows for the years ending (dollars in thousands):


2015	$	667,626
2016		322,156
2017		132,285
2018		117,084
2019		58,166
Total scheduled maturities of time deposits	$	1,297,317

The amount of time deposits held in CDARS accounts was $7.9 million and $32.0 million as of December 31, 2014 and 2013, respectively. These deposits had a maturity of less than one year.

The Company classifies deposit overdrafts as other consumer loans. As of December 31, 2014 and 2013, these deposits totaled $2.1 million and $1.8 million, respectively.

- Definition

The entire disclosure for deposit liabilities including data and tables. It may include a description of the entity's deposit liabilities, the aggregate amount of time deposits (including certificates of deposit) in denominations of $100,000 or more at the balance sheet date; the aggregate amount of any demand deposits that have been reclassified as loan balances, such as overdrafts, at the balance sheet date; deposits that are received on terms other than those in the normal course of business, the amount of accrued interest on deposit liabilities; securities, mortgage loans or other financial instruments that serve as collateral for deposits; for time deposits having a remaining term of more than one year, the aggregate amount of maturities for each of the five years following the balance sheet date; and the weighted average interest rate for all deposit liabilities held by the entity.

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