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Deposits (Tables)

6 Months Ended

Jun. 30, 2024

Banking and Thrift, Other Disclosure [Abstract]

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.