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Subsequent Events
12 Months Ended
Dec. 31, 2023
Subsequent Events [Abstract]  
Subsequent Events

25. SUBSEQUENT EVENTS

In November 2023, the FDIC finalized a special assessment to recover the loss to the Deposit Insurance Fund as a result of the closure of several large regional banks during 2023. As a result of the FDIC’s final rule that implements the special assessment to be collected over an anticipated total of eight quarterly assessment periods starting in 2024, the Bank accrued $9.2 million in expense in December 2023. On February 23, 2024, the Company received a communication from the FDIC indicating a potential increase of 25% from the original estimate related to this special assessment. This communication further noted that institution will receive an updated estimate of its total special assessment in June of 2024. The Company believes that a range cannot be estimated as there is uncertainty in the ultimate amount that will be assessed to the Bank based on the information provided in the communication and accordingly the $9.2 million accrued as of December 31, 2023 represents our best estimate.