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Deposits

12 Months Ended

Dec. 31, 2024

Maturities of Time Deposits [Abstract]

Deposits

DEPOSITS

Following is a summary of certificates of deposit maturities at December 31, 2024:

($ in thousands)			Brokered						Customer						Total
Less than 1 year			$	379,370					$	843,232					$	1,222,602
Greater than 1 year and less than 2 years			105,218						30,478						135,696
Greater than 2 years and less than 3 years			—						3,587						3,587
Greater than 3 years and less than 4 years			—						2,445						2,445
Greater than 4 years and less than 5 years			—						1,225						1,225
Greater than 5 years			—						4,049						4,049
			$	484,588					$	885,016					$	1,369,604

Certificates of deposit balances over the FDIC insurance limit of $250,000 were $268.2 million and $234.6 million as of December 31, 2024 and 2023, respectively.

At December 31, 2024 and 2023, deposit accounts of executive officers and directors, or to entities in which such individuals had beneficial interests as a shareholder, officer, or director totaled $0.9 million and $2.6 million, respectively.

The Company is a participant in certain networks that offer deposit placement services on a reciprocal basis that qualify large deposits for FDIC insurance. The Company had $96.6 million and $91.7 million of certificates of deposits, and $1.2 billion and $1.1 billion of demand deposits in these reciprocal accounts at December 31, 2024 and 2023, respectively.

At December 31, 2024 and 2023, overdraft deposits of $17.2 million and $1.6 million, respectively, were reclassified to loans.

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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

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- References

No definition available.

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