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Deposits | 6 Months Ended
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Jun. 30, 2024
Banking and Thrift, Other Disclosure [Abstract] |
Deposits | Deposits Deposits as of June 30, 2024 and December 31, 2023 are summarized as follows (in thousands):
|  | June 30, 2024 |  | December 31, 2023
Savings |  | $ | 1,745,158 |  |  | 1,175,683 |
Money market |  | 3,443,081 |  |  | 2,325,364 |
NOW (1) |  | 6,370,433 |  |  | 3,492,184 |
Non-interest bearing |  | 3,712,580 |  |  | 2,203,341 |
Certificates of deposit (2) |  | 3,081,992 |  |  | 1,095,942 |
Total deposits |  | $ | 18,353,244 |  |  | 10,292,514 |
(1) The Bank's insured cash sweep product totaled $1.15 billion and $512.2 million as of June 30, 2024 and December 31, 2023, respectively, and are reported within NOW accounts. (2) Time deposits equal to or in excess of $250,000, were $871.8 million and $218.5 million as of June 30, 2024 and December 31, 2023, respectively. Additionally, the Bank's reciprocal Certificate of Deposit Account Registry Service product totaled $3.7 million and $3.3 million as of June 30, 2024 and December 31, 2023, respectively. Within total deposits, brokered deposits totaled $149.8 million and $165.7 million as of June 30, 2024 and December 31, 2023, respectively.

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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 + Details
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