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Deposits | 12 Months Ended
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Dec. 31, 2022
Deposits [Abstract] |
Deposits | Deposits The composition of consolidated deposits consisted of the following at the periods indicated:
(dollars in thousands) | December 31, 2022 |  | December 31, 2021
| (dollars in thousands)
Demand, noninterest bearing | $ | 775,012 |  | $ | 1,355,908 |
NOW and money market | 1,804,399 |  | 789,709 |
Savings | 107,117 |  | 103,956 |
BaaS-brokered deposits | 101,546 |  | 70,757 |
Time deposits less than $250,000 | 21,942 |  | 31,057 |
Time deposits $250,000 and over | 7,505 |  | 12,400 |
Total deposits | $ | 2,817,521 |  | $ | 2,363,787 |
The following table presents the maturity distribution of time deposits as of December 31, 2022:
(dollars in thousands) |
Twelve months | $ | 22,219 |
One to two years | 4,956 |
Two to three years | 1,401 |
Three to four years | 828 |
Four to five years | 43 |
| $ | 29,447 |
CCBX deposits are originated through CCBX partners for true depositor and FDIC insurance purposes. CCBX deposits were primarily noninterest bearing prior to the rate increases in 2022 by the Federal Open Market Committee (“FOMC”). As a result of the interest rate increases, a significant portion of CCBX deposits that were not earning interest were reclassified to interest bearing deposits from noninterest bearing deposits during the first and second quarters of 2022. These CCBX deposits were reclassified because the current interest rate exceeded the minimum interest rate set in their respective program agreements, as a result of the first and second quarter 2022 interest rate increases by the FOMC, we needed to pay interest to the CCBX partners for these deposits. We do not expect additional CCBX deposits will be reclassified as a result of future rate increases.

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 405 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=116652737&loc=d3e64164-112818 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.12) -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1406 -Paragraph (e) Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1406 + Details
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