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DEPOSITS

12 Months Ended

Dec. 31, 2022

Deposits [Abstract]

DEPOSITS

DEPOSITS 

The following is a summary of the scheduled maturities of time deposits at December 31:

			2022												2021
			(Dollars in thousands)
1 year or less			$	953,214					79.7		%				$	1,216,437					79.4		%
Over 1 year to 2 years			150,102						12.5		%				142,942						9.3		%
Over 2 years to 3 years			66,995						5.6		%				85,650						5.6		%
Over 3 years to 4 years			15,172						1.3		%				66,907						4.4		%
Over 4 years to 5 years			10,258						0.9		%				19,214						1.3		%
Total			$	1,195,741					100.0		%				$	1,531,150					100.0		%

The amount of overdraft deposits that were reclassified to the loan category were $2.8 million and $1.5 million at December 31, 2022 and 2021, respectively.

The Company had pledged assets as collateral covering certain deposits in the amount of $959.8 million and $740.6 million at December 31, 2022 and 2021, respectively.

The Bank's deposit accounts are insured to the maximum extent permitted by law by the Deposit Insurance Fund which is administered by the FDIC. The FDIC offers insurance coverage on deposits up to the federally insured limit of $250,000. The total amount of time deposit accounts with balances equal to or greater than $250,000 at December 31, 2022 and 2021 was $251.1 million and $339.3 million, respectively.

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- 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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 405
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=116652737&loc=d3e64164-112818

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.12)
-URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (e)

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406

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- References

No definition available.

+ Details

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