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Note 11 - Deposits

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Deposit Liabilities Disclosures [Text Block]

(11) Deposits

The composition of deposits follows:

December 31, (in thousands)		2022				2021
Non-interest bearing demand deposits		$	1,950,198			$	1,755,754
Interest bearing deposits:
Interest bearing demand			2,308,960				2,131,928
Savings			535,903				415,258
Money market			1,124,100				1,050,352
Time deposit accounts of $250,000 or more			97,638				89,745
Other time deposits			374,453				344,477
Total time deposits(1)			472,091				434,222
Total interest bearing deposits			4,441,054				4,031,760
Total deposits		$	6,391,252			$	5,787,514

(1) Includes $599,000 and $5 million in brokered deposits as of December 31, 2022 and 2021, respectively.

Deposits totaling $1.12 billion were assumed on March 7, 2022 in relation to the CB acquisition. Deposits totaling $1.04 billion were assumed on May 31, 2021 in relation to the KB acquisition.

Interest expense related to certificates of deposit and other time deposits in denominations of $250,000 or more was $472,000, $464,000 and $888,000 for the years ended December 31, 2022, 2021 and 2020, respectively.

At December 31, 2022, the scheduled maturities of all time deposits were as follows:

(in thousands)
2023		$	334,504
2024			94,138
2025			24,212
2026			8,924
2027			10,121
Beyond five years			192
Total time deposits		$	472,091

Deposits of directors and their associates, including deposits of companies for which directors are principal owners, and executive officers were $59 million and $104 million at December 31, 2022 and 2021, respectively.

At December 31, 2022 and 2021, Bancorp had $913,000 and $612,000 of deposits accounts in overdraft status and thus have been reclassified to loans on the accompanying consolidated balance sheets.

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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 https://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 https://asc.fasb.org/extlink&oid=126897435&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.

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