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Deposits
 9 Months Ended
Sep. 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 September 30,Nine Months Ended September 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$8,203,439 — %$7,384,721 — %$7,873,052 — %$7,132,351 — %
Interest bearing5,586,547 3.36 %3,930,101 3.78 %5,271,474 3.37 %3,752,828 3.77 %
Savings and money market9,921,293 3.35 %11,304,999 4.22 %10,366,899 3.40 %11,238,662 4.25 %
Time3,535,051 3.63 %4,524,215 4.53 %3,924,209 3.82 %4,834,209 4.51 %
$27,246,330 2.38 %$27,144,036 3.06 %$27,435,634 2.48 %$26,958,050 3.11 %
(1)Annualized.
The following table presents maturities of time deposits as of September 30, 2025 (in thousands):
Maturing in:
2025$2,139,983 
20261,302,486 
20272,470 
2028350 
2029317 
Thereafter1,090 
$3,446,696 
Included in deposits are public funds deposits of $1.9 billion and $3.1 billion, at September 30, 2025 and December 31, 2024, respectively, and brokered deposits of $4.5 billion and $5.2 billion at September 30, 2025 and December 31, 2024, respectively.
Interest expense on deposits for the periods indicated was as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
 2025202420252024
Interest bearing demand$47,304 $37,294 $132,886 $106,050 
Savings and money market83,862 119,856 263,664 357,440 
Time32,389 51,480 111,910 163,229 
$163,555 $208,630 $508,460 $626,719 
We incur costs related to certain deposit rebate and commission programs. During the three and nine months ended September 30, 2025 and 2024, costs related to those programs that were correlated with the balance in the related deposit accounts totaled $15.3 million, $43.0 million, $15.3 million and $42.3 million, respectively. These expenses are included in "other non-interest expense" in the accompanying consolidated statements of income.