Deposits (Tables)

12 Months Ended

Dec. 31, 2021

The following is an analysis of People’s United’s total deposits by product type:


	2021				2020
As of December 31 (dollars in millions)	Amount		Weighted- Average Rate		Amount		Weighted- Average Rate
Non-interest-bearing	$	17,941.1	—	%	$	15,881.7	—	%
Savings	6,733.7		0.02		6,029.7		0.04
Interest-bearing checking and money market	25,383.8		0.12		24,567.5		0.17
Time deposits maturing:
Within 3 months	1,444.2		0.57		1,850.6		1.10
After 3 but within 6 months	836.7		0.25		1,155.1		0.68
After 6 months but within 1 year	807.7		0.20		1,464.1		0.75
After 1 but within 2 years	447.6		0.73		950.8		1.02
After 2 but within 3 years	76.2		0.43		165.7		1.75
After 3 but within 4 years	50.6		0.67		18.1		0.99
After 4 but within 5 years	33.7		0.33		54.4		0.68
After 5 years (1)	—		—		—		0.99
Total	3,696.7		0.43		5,658.8		0.92
Total deposits	$	53,755.3	0.09	%	$	52,137.7	0.19	%

(1)Amount totaled less than $0.1 million at December 31, 2020 (none at December 31, 2021).

Interest expense on deposits is summarized as follows:


Years ended December 31 (in millions)	2021		2020		2019
Savings	$	2.0	$	5.4	$	13.4
Interest-bearing checking and money market	38.4		86.8		195.9
Time	28.3		95.0		147.6
Total	$	68.7	$	187.2	$	356.9

People's United Financial, Inc. 10-K