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DEPOSITS
6 Months Ended
Jun. 30, 2023
DEPOSITS [Abstract]  
DEPOSITS
NOTE 8 – DEPOSITS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The following table summarizes deposit balances as of the indicated dates:
June 30, 2023
December 31, 2022
(In thousands)
Type of account and interest rate:
Non-interest-bearing deposit accounts
$
5,874,261
$
6,112,884
Interest-bearing saving accounts
3,642,728
3,902,888
Interest-bearing checking accounts
4,258,871
3,770,993
Certificates of deposit (“CDs”)
2,680,250
2,250,876
Brokered CDs
363,582
105,826
 
Total
$
16,819,692
$
16,143,467
 
 
 
 
 
 
 
 
 
 
 
 
 
The following table presents the contractual maturities of CDs, including brokered CDs, as of June 30,
 
2023:
Total
 
(In thousands)
Three months or less
$
685,606
Over three months to six months
511,428
Over six months to one year
752,768
Over one year to two years
 
783,288
Over two years to three years
 
139,807
Over three years to four years
 
41,543
Over four years to five years
 
122,471
Over five years
6,921
 
Total
$
3,043,832
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The following were the components of interest expense on deposits for the
 
indicated periods:
Quarter Ended June 30,
 
Six-Month Period Ended June 30,
 
2023
2022
2023
2022
(In thousands)
Interest expense on deposits
$
41,553
$
7,757
$
71,477
$
15,574
Accretion of premiums from
acquisitions
(33)
(92)
(116)
(292)
Amortization of broker placement fees
84
29
128
64
 
Total
$
41,604
$
7,694
$
71,489
$
15,346
Total
 
U.S. time
 
deposits with
 
balances
 
of more
 
than $250,000
 
amounted
 
to $
1.3
 
billion and
 
$
1.0
 
billion
 
as of
 
June 30,
 
2023
 
and
December 31,
 
2022, respectively.
 
This amount does
 
not include brokered
 
CDs that are
 
generally participated
 
out by brokers
 
in shares
of less
 
than the
 
FDIC insurance
 
limit. As
 
of June
 
30, 2023
 
and December
 
31, 2022,
 
unamortized broker
 
placement fees
 
amounted to
$
0.4
 
million and
 
$
0.3
 
million, respectively,
 
which are
 
amortized over
 
the contractual
 
maturity of
 
the brokered
 
CDs under
 
the interest
method.