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Deposits
 6 Months Ended
Jun. 30, 2025
Deposits [Abstract]  
Deposits
Note 10    Deposits
The following table presents average balances and weighted average rates paid on deposits for the periods indicated (dollars in thousands):
Three Months Ended June 30,Six Months Ended June 30,
 2025202420252024
 Average
Balance
Average
Rate Paid(1)
Average
Balance
Average
Rate Paid(1)
Average
Balance
Average
Rate Paid(1)
Average
Balance
Average
Rate Paid(1)
Demand deposits:      
Non-interest bearing$7,993,915 — %$7,448,633 — %$7,705,120 — %$7,004,780 — %
Interest bearing5,407,538 3.39 %3,742,071 3.79 %5,111,328 3.37 %3,663,217 3.77 %
Savings and money market10,355,700 3.41 %11,176,000 4.28 %10,593,396 3.42 %11,205,130 4.26 %
Time3,919,526 3.79 %4,750,640 4.56 %4,122,014 3.89 %4,990,909 4.50 %
$27,676,679 2.47 %$27,117,344 3.09 %$27,531,858 2.52 %$26,864,036 3.13 %
(1)Annualized.
The following table presents maturities of time deposits as of June 30, 2025 (in thousands):
Maturing in:
2025$3,049,768 
2026725,618 
20271,308 
2028346 
2029257 
Thereafter937 
$3,778,234 
Included in deposits are public funds deposits of $3.0 billion and $3.1 billion, at June 30, 2025 and December 31, 2024, respectively, and brokered deposits of $4.1 billion and $5.2 billion at June 30, 2025 and December 31, 2024, respectively.
Interest expense on deposits for the periods indicated was as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
 2025202420252024
Interest bearing demand$45,689 $35,249 $85,582 $68,756 
Savings and money market88,023 118,945 179,802 237,584 
Time36,983 53,897 79,521 111,749 
$170,695 $208,091 $344,905 $418,089 
We incur costs related to certain deposit rebate and commission programs. During the three and six months ended June 30, 2025 and 2024, costs related to those programs that were correlated with the balance in the related deposit accounts totaled $14.5 million, $27.7 million, $14.3 million and $27.0 million, respectively. These expenses are included in "other non-interest expense" in the accompanying consolidated statements of income.