CASH 2018 Annual Report

29 The following table shows rate and maturity information for the Company’s certificates of deposit as of September 30, 2018. Variable 0.00- 0.99% 1.00 - 1.99% 2.00 - 2.99% 3.00 - 3.99% Total Percent of Total (Dollars in Thousands) Certificate accounts maturing in quarter ending: December 31, 2018 $ 9 $ 49,910 $ 439,982 $ 72,393 $ — $ 562,294 32.8% March 31, 2019 27 11,875 129,808 517,339 — 659,049 38.5% June 30, 2019 14 7,482 44,091 88,834 — 140,421 8.2% September 30, 2019 18 7,744 37,131 155,903 241 201,037 11.7% December 31, 2019 9 2,565 22,835 9,773 — 35,182 2.0% March 31, 2020 32 1,673 5,178 45,895 — 52,778 3.1% June 30, 2020 — 2,015 18,622 1,949 — 22,586 1.3% September 30, 2020 — 1,458 5,417 7,958 202 15,035 0.9% December 31, 2020 — 174 3,068 3,552 — 6,794 0.4% March 31, 2021 — 261 839 660 — 1,760 0.1% June 30, 2021 — 86 4,353 383 — 4,822 0.3% September 30, 2021 — 506 1,995 746 — 3,247 0.2% Thereafter — 146 5,128 2,604 99 7,977 0.5% Total $ 109 $ 85,895 $ 718,447 $ 907,989 $ 542 $ 1,712,982 100.0% Percent of total —% 5.0% 41.9% 53.0% 0.1% 100.0% The following table indicates the amount of the Company’s certificates of deposit and other deposits by time remaining until maturity as of September 30, 2018. Maturity 3 Months or Less After 3 to 6 Months After 6 to 12 Months After 12 Months Total (Dollars in Thousands) Certificates of deposit less than $250,000 $ 486,336 $ 626,907 $ 295,762 $ 140,722 $ 1,549,727 Certificates of deposit of $250,000 or more 75,958 32,142 45,696 9,459 $ 163,255 Total certificates of deposit $ 562,294 $ 659,049 $ 341,458 $ 150,181 $ 1,712,982 At September 30, 2018, there were $14.4 million in deposits from governmental and other public entities included in certificates of deposit. Borrowings Although deposits are the Company’s primary source of funds, the Company’s practice has been to utilize borrowings when they are a less costly source of funds, can be invested at a positive interest rate spread, or when the Company desires additional capacity to fund loan demand. Borrowings from various sources mature based on stated payment schedules. The Company’s borrowings have historically consisted primarily of advances from the FHLB upon the security of a blanket collateral agreement of a percentage of unencumbered loans and the pledge of specific investment securities. Such advances can be made pursuant to several different credit programs, each of which has its own interest rate and range of maturities. At September 30, 2018, the Bank had $422.0 million of overnight borrowings, no term advances, and the ability to borrow up to an approximate additional $1.45 billion from the FHLB.