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Deposits | 12 Months Ended
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Dec. 31, 2023
Deposits, by Type [Abstract] |
Deposits | Deposits The following table lists the composition of the deposit portfolio as of the end of the respective years.
($ in thousands) |  | December 31, 2023 |  | December 31, 2022
Noninterest-bearing checking accounts |  | $ | 3,379,876 |  |  | 3,566,003 |
Interest-bearing checking accounts |  | 1,411,142 |  |  | 1,514,166 |
Money market accounts |  | 3,653,506 |  |  | 2,416,146 |
Savings accounts |  | 608,380 |  |  | 728,641 |
Other time deposits |  | 610,887 |  |  | 464,343 |
Time deposits >$250,000 |  | 355,209 |  |  | 276,319 |
Total customer deposits |  | 10,019,000 |  |  | 8,965,618 |
Brokered Deposits - time deposits |  | 12,599 |  |  | 261,911 |
Total deposits |  | $ | 10,031,599 |  |  | 9,227,529 |
At December 31, 2023, the scheduled maturities of time deposits were as follows:
($ in thousands) |  |
2024 |  | $ | 901,211 |
2025 |  | 41,579 |
2026 |  | 21,160 |
2027 |  | 9,175 |
2028 |  | 4,727 |
Thereafter |  | 843 |
|  | $ | 978,695 |
Deposits received from executive officers and directors and their associates totaled approximately $4.6 million and $2.0 million at December 31, 2023 and 2022, respectively. Deposit overdrafts of approximately $1.1 million and $0.8 million at December 31, 2023 and 2022 are included within "Loans" on the consolidated balance sheets. As of December 31, 2023 and 2022, the Company held $355.2 million and $276.3 million, respectively, in time deposits of more than $250,000 (which was the FDIC insurance limit for insured deposits as of December 31, 2023). Brokered deposits were $12.6 million and $261.9 million at December 31, 2023 and 2022, respectively. Total reciprocal deposits through the Certificate of Deposit Account Registry Services ("CDARS") and Insured Cash Sweep ("ICS") were $26.6 million and $10.3 million at December 31, 2023 and 2022, respectively. As of December 31, 2023, the estimated insured deposits totaled $6.3 billion or 63.3% of total deposits, while approximately $3.7 billion of the Company's total deposits were uninsured deposits. In addition to insured deposits, there were deposits with a balance totaling $820.9 million at December 31, 2023 which were collateralized by investment securities such that approximately 71.5% of our total deposits were insured or collateralized at that date. The Company’s deposit portfolio is not concentrated in deposits to any single customer or to a relatively small number of customers. Additionally, management is not aware of any concentrations of deposits to classes of customers or industries that would be similarly affected by economic conditions. The following table presents the counties with the largest share of our deposit base as of December 31, 2023 and 2022. No other market area (as defined by county) comprises more than 5% of our deposit base at the dates presented.
|  | Percentage of Total Deposits
|  | 2023 |  | 2022
Moore County, North Carolina |  | 10.8 | % |  | 10.9 | %
Buncombe County, North Carolina |  | 7.2 | % |  | 8.3 | %
Guilford County, North Carolina |  | 5.0 | % |  | 6.0 | %

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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 -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 + Details
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