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DEPOSITS

12 Months Ended

Dec. 31, 2021

Deposits [Abstract]

DEPOSITS

DEPOSITS

The following table presents the components of deposits as of the dates indicated:

						December 31,
($ in thousands)						2021						2020
Noninterest-bearing deposits						$	2,788,196					$	1,559,248
Interest-bearing deposits
Interest-bearing demand deposits						2,393,386						2,107,942
Money market and savings accounts						1,751,135						1,646,660
Certificates of deposit of $250,000 or less						285,768						316,585
Certificates of deposit of more than $250,000						220,950						455,365
Total interest-bearing deposits						4,651,239						4,526,552
Total deposits						$	7,439,435					$	6,085,800

The aggregate amount of deposits reclassified as loans, such as overdrafts, was $129 thousand and $441 thousand at December 31, 2021 and 2020.

We had California State Treasurer’s deposits of $75.0 million and $300.0 million, and accrued interest on these deposits, in certificates of deposit of more than $250,000 at December 31, 2021 and 2020. The California State Treasurer’s deposits are subject to withdrawal based on the State’s periodic evaluations. In addition, we had other public deposits of $30.5 million and $24.4 million at December 31, 2021 and 2020. At December 31, 2021 and 2020, we provided letters of credit of $235.0 million and $335.0 million through the FHLB of San Francisco as collateral for California State Treasurer’s deposits and other public deposits. There were no securities pledged as collateral for these deposits at December 31, 2021 and 2020.

The following table presents a summary of brokered deposits as of the dates indicated:

						December 31,
($ in thousands)						2021						2020
Money market accounts						$	10,000					$	10,000
Certificates of deposit of $250,000 or less						—						16,223
Certificates of deposit of more than $250,000						—						—
Total brokered deposits						$	10,000					$	26,223

The following table presents scheduled maturities of certificates of deposit as of December 31, 2021:

($ in thousands)						2022						2023						2024						2025						2026						Total
Certificates of deposit of $250,000 or less						$	251,898					$	22,190					$	9,133					$	1,456					$	1,091					$	285,768
Certificates of deposit of more than $250,000						212,727						3,830						3,999						—						394						220,950
Total certificates of deposit(1)						$	464,625					$	26,020					$	13,132					$	1,456					$	1,485					$	506,718

(1)Total certificates of deposit includes $602 thousand of fair value adjustments related to certificates of deposit acquired in business combinations at December 31, 2021

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 405
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=116652737&loc=d3e64164-112818

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.12)
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

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

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

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- References

No definition available.

+ Details

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