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Deposits

3 Months Ended

Mar. 31, 2024

Deposit [Abstract]

Deposits

DEPOSITS

The components of deposits at March 31, 2024 and December 31, 2023 were as follows:

			March 31, 2024						December 31, 2023
(amounts in thousands)
Demand, non-interest bearing			$	4,688,880					$	4,422,494
Demand, interest bearing			5,661,775						5,580,527
Savings, including money market deposit accounts			5,428,217						4,629,336
Time			2,182,511						3,287,879
Total deposits			$	17,961,383					$	17,920,236

The scheduled maturities for time deposits at March 31, 2024 were as follows:

(amounts in thousands)			March 31, 2024
2024			$	1,300,535
2025			264,437
2026			361,940
2027			117,773
2028			137,768
Thereafter			58
Total time deposits			$	2,182,511

Time deposits greater than the FDIC limit of $250,000 totaled $238.5 million and $186.3 million at March 31, 2024 and December 31, 2023, respectively.

Demand deposit overdrafts reclassified as loans were $1.6 million and $1.2 million at March 31, 2024 and December 31, 2023, respectively.

At March 31, 2024 and December 31, 2023, the Bank had $1.1 billion in deposits, to which it had pledged $1.1 billion of available borrowing capacity through the FHLB to the depositors through a standby letter of credit arrangement.

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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