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DEPOSITS

3 Months Ended

Mar. 31, 2024

Deposits Liabilities, Balance Sheet, Reported Amounts [Abstract]

DEPOSITS

DEPOSITS:

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

			At March 31, 2024												At December 31, 2023
(dollars in thousands)			Amount						Weighted Average Rate						Amount						Weighted Average Rate
Noninterest-bearing demand deposits			$	1,311,559					—		%				$	1,306,503					—		%
Interest bearing:
Interest-bearing demand deposits			330,301						0.23		%				344,748						0.25		%
Savings			256,383						0.06		%				261,508						0.06		%
Money market			1,536,341						1.67		%				1,622,665						1.79		%
Certificates of deposit
Brokered deposits			921,103						5.36		%				1,218,008						5.36		%
Other			2,135,415						4.32		%				2,009,946						3.95		%
Total interest bearing deposits			5,179,543						3.25		%				5,456,875						3.19		%
Total deposits			$	6,491,102					2.59		%				$	6,763,378					2.58		%

There were $256 million and $255 million in public funds included in deposits at March 31, 2024 and December 31, 2023, respectively.

Certificates of deposit outstanding mature as follows: 

(in thousands)			March 31, 2024
Within one year			$	2,782,594
One to two years			260,104
Two to three years			5,025
Three to four years			7,262
Four to five years			1,418
Thereafter			115
Total			$	3,056,518

The aggregate amount of certificate of deposits in denominations of more than the FDIC limit of $250 thousand at March 31, 2024 and December 31, 2023 were $277 million and $194 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
-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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X

- References

No definition available.

+ Details

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