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Deposits

12 Months Ended

Dec. 31, 2023

Deposit [Abstract]

Deposits

DEPOSITS

The components of deposits at December 31, 2023 and 2022 were as follows:

			December 31,
(amounts in thousands)			2023						2022
Demand, non-interest bearing			$	4,422,494					$	1,885,045
Demand, interest bearing			5,580,527						8,476,027
Savings, including money market deposit accounts			4,629,336						3,546,015
Time			3,287,879						4,249,866
Total deposits			$	17,920,236					$	18,156,953

The scheduled maturities for time deposits at December 31, 2023 were as follows:

(amounts in thousands)			December 31, 2023
2024			$	2,474,929
2025			200,844
2026			356,644
2027			117,695
2028			137,767
Thereafter			—
Total time deposits			$	3,287,879

Time deposits greater than the FDIC limit of $250,000 totaled $186.3 million and $85.5 million at December 31, 2023 and 2022, respectively.

Demand deposit overdrafts reclassified as loans were $1.2 million and $3.7 million at December 31, 2023 and 2022, respectively.

At December 31, 2023 and 2022, the Bank had $1.1 billion and $176.2 million in deposits, respectively, to which it had pledged $1.1 billion and $175.6 million of available borrowing capacity through the FHLB to the depositors through a standby letter of credit arrangement, respectively.

X

- Definition

Deposit

+ References

No definition available.

+ Details

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X

- 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//1943274/2147481047/942-405-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (e)
-Publisher SEC

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Publisher SEC

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.12)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1

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