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Deposits (Tables)
 12 Months Ended
Dec. 31, 2024
Other Liabilities [Abstract]  
Schedule of Deposits
Deposits as of December 31, 2024 and 2023 are summarized as follows (in thousands):
2024
Weighted
average
interest rate
2023
Weighted
average
interest rate
Savings deposits$1,679,667 0.22 %$1,175,683 0.21 %
Money market accounts3,364,564 2.67 2,325,364 2.67 
NOW accounts (1)
6,622,642 2.64 3,492,184 2.77 
Non-interest bearing deposits3,788,785 — 2,203,341 — 
Certificates of deposit (2)
3,168,155 4.10 1,095,942 3.85 
Total deposits$18,623,813 $10,292,514 
(1) The Bank's insured cash sweep product totaled $1.16 billion and $520.2 million as of December 31, 2024 and December 31, 2023, respectively, and are reported within NOW accounts.
(2)Time deposits equal to or in excess of $250,000 were $789.0 million and $218.5 million as of December 31, 2024 and December 31, 2023, respectively. Additionally, the Bank's reciprocal Certificate of Deposit Account Registry Service product totaled $3.5 million and $3.3 million as of December 31, 2024 and December 31, 2023, respectively.
Schedule of Maturities of Certificates of Deposit Scheduled maturities of certificates of deposit accounts as of December 31, 2024 and 2023 are as follows (in thousands):
20242023
Within one year$3,045,860 1,020,285 
One to three years110,684 63,866 
Three to five years11,608 11,773 
Five years and thereafter3 18 
$3,168,155 1,095,942 
Schedule of Interest Expense on Deposits
Interest expense on deposits for the years ended December 31, 2024, 2023 and 2022 is summarized as follows (in thousands):
 Years ended December 31,
 202420232022
Savings deposits$3,443 2,184 1,276 
NOW and money market accounts245,874 125,471 32,048 
Certificates of deposits100,206 31,804 5,380 
$349,523 159,459 38,704