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DEPOSITS

12 Months Ended

Dec. 31, 2023

Deposits Liabilities, Balance Sheet, Reported Amounts [Abstract]

DEPOSITS

DEPOSITS:

Deposit balances, including their weighted average rates, were as follows: 

			At December 31,
			2023												2022
(dollars in thousands)			Amount						Weighted Average Rate						Amount						Weighted Average Rate
Noninterest-bearing demand deposits			$	1,306,503					—		%				$	1,399,912					—		%
Interest bearing:
Interest-bearing demand deposits			344,748						0.25		%				466,490						0.10		%
Savings			261,508						0.06		%				258,977						0.06		%
Money market			1,622,665						1.79		%				2,383,209						1.22		%
Certificates of deposit			3,227,954						4.47		%				2,943,331						3.07		%
Total interest bearing deposits			5,456,875						3.19		%				6,052,007						1.98		%
Total deposits			$	6,763,378					2.58		%				$	7,451,919					1.61		%

There were $255 million and $351 million in public funds included in deposits at December 31, 2023 and 2022, respectively.

Certificates of deposit outstanding mature as follows:

(in thousands)			December 31, 2023
Within one year			$	3,022,871
One to two years			180,304
Two to three years			12,812
Three to four years			5,066
Four to five years			6,799
Thereafter			102
Total			$	3,227,954

The aggregate amount of time deposits in denominations of more than the FDIC limit of $250,000 at December 31, 2023 and 2022 was $194 million and $189 million, respectively. There were $1.2 billion and $1.4 billion of brokered deposits at December 31, 2023 and 2022, 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
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 405
-Topic 942
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481047/942-405-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (e)
-Publisher SEC

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

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.12)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1

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- References

No definition available.

+ Details

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