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DEPOSITS

9 Months Ended

Sep. 30, 2025

Deposits Liabilities, Balance Sheet, Reported Amounts [Abstract]

DEPOSITS

DEPOSITS

The aggregate amount of time certificates of deposits that meet or exceed the FDIC insurance limit of $250 thousand at

September 30, 2025 and December 31, 2024 was $648.1 million and $407.7 million, respectively. At September 30, 2025,

certificates of deposit outstanding mature as follows: 

(in thousands)	September 30, 2025
Within one year	$3,329,099
One to two years	38,727
Two to three years	8,384
Three to four years	5,355
Four to five years	4,176
Thereafter	1,499
Total	$3,387,240

The Company accepts public deposits from various state, city and municipal agencies. Public deposits totaling $1.3 billion

and $1.2 billion are included in demand deposits, interest bearing transaction accounts, savings accounts and time

certificates of deposit as presented in the consolidated balance sheets at September 30, 2025 and December 31, 2024,

respectively. As required by law, the Company pledges marketable securities as collateral for its public deposits in

quantities of not less than 110% of the Company’s deposit obligations for these public funds. The Company had investment

securities with a carrying value of $1.5 billion pledged as collateral as of September 30, 2025.

The Company accepts deposits from its Investment Management and Trust Department for the benefit of certain trust

customers. In accordance with state trust regulations, the Company is required to secure any trust deposits that are in excess

of the $250 thousand FDIC insurance limits by pledging marketable securities equal to those excess deposit balances. As of

September 30, 2025 and December 31, 2024, the Company held trust deposits of $901 thousand and $884 thousand,

respectively, that were in excess of $250 thousand and which required securities collateralization.

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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/1943274/2147478353/942-405-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(12))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

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

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

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- References

No definition available.

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