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Deposits
 6 Months Ended
Jun. 30, 2023
Deposit [Abstract]  
Deposits DEPOSITS
The components of deposits at June 30, 2023 and December 31, 2022 were as follows:
June 30, 2023December 31, 2022
(amounts in thousands)
Demand, non-interest bearing$4,490,198 $1,885,045 
Demand, interest bearing5,551,037 8,476,027 
Savings, including money market deposit accounts3,052,493 3,546,015 
Time4,856,703 4,249,866 
Total deposits$17,950,431 $18,156,953 
The scheduled maturities for time deposits at June 30, 2023 were as follows:
(amounts in thousands)June 30, 2023
2023$1,831,337 
20242,367,787 
2025154,031 
2026356,193 
202759,786 
Thereafter87,569 
Total time deposits$4,856,703 
Time deposits greater than the FDIC limit of $250,000 totaled $89.3 million and $85.5 million at June 30, 2023 and December 31, 2022, respectively.
Demand deposit overdrafts reclassified as loans were $5.6 million and $3.7 million at June 30, 2023 and December 31, 2022, respectively.
At June 30, 2023, the Bank had $597.4 million in state and municipal deposits to which it had pledged $600.5 million of available borrowing capacity through the FHLB to the depositors through a letter of credit arrangement.
In 2021, Customers Bancorp completed the divestiture of BMT, the technology arm of its BankMobile segment, to MFAC Merger Sub Inc., an indirect wholly-owned subsidiary of MFAC. In connection with the closing of the divestiture, MFAC changed its name to “BM Technologies, Inc.” In connection with the divestiture, Customers entered into various agreements with BM Technologies, including a deposit servicing agreement. Customers incurred expenses of $7.3 million and $14.9 million to BM Technologies under the deposit servicing agreement, included within the technology, communication and bank operations expense in non-interest expense during the three and six months ended June 30, 2023, respectively. Customers incurred expenses of $15.9 million and $33.7 million to BM Technologies under the deposit servicing agreement during the three and six months ended June 30, 2022, respectively. Customers held $847.7 million and $1.1 billion of deposits serviced by BM Technologies as of June 30, 2023 and December 31, 2022, respectively. On March 22, 2023, Customers agreed to extend the deposit servicing agreement to the earlier of BM Technologies' successful completion of the transfer of the serviced deposits in connection with BM Technologies' Higher Education business to a new sponsor bank or June 30, 2024. Also on March 22, 2023, Customers agreed to amend and extend an existing white label relationship with a third party and BM Technologies, whereby Customers will continue to pay deposit servicing fees to BM Technologies.