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DEPOSITS | 12 Months Ended
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Dec. 31, 2023
DEPOSITS |
DEPOSITS |
9. | DEPOSITS
​ The composition of the deposit portfolio follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, (in thousands) |  |  | 2023 |  | 2022 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Core Bank: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Demand | ​ | ​ | $ | 1,158,051 | ​ | $ | 1,336,082 | ​
Money market accounts | ​ | ​ |  | 1,007,356 | ​ |  | 707,272 | ​
Savings | ​ | ​ |  | 263,238 | ​ |  | 323,015 | ​
Reciprocal money market | ​ | ​ |  | 188,078 | ​ |  | 28,635 | ​
Individual retirement accounts (1) | ​ | ​ |  | 33,793 | ​ |  | 38,640 | ​
Time deposits, $250 and over (1) | ​ | ​ |  | 101,787 | ​ |  | 54,855 | ​
Other certificates of deposit (1) | ​ | ​ |  | 225,614 | ​ |  | 129,324 | ​
Reciprocal time deposits (1) | ​ | ​ |  | 90,857 | ​ |  | 7,405 | ​
Wholesale brokered deposits (1) | ​ | ​ | ​ | 88,767 | ​ | ​ | — | ​
Total Core Bank interest-bearing deposits | ​ | ​ |  | 3,157,541 | ​ |  | 2,625,228 | ​
Total Core Bank noninterest-bearing deposits | ​ | ​ | ​ | 1,239,466 | ​ | ​ | 1,464,493 | ​
Total Core Bank deposits | ​ | ​ | ​ | 4,397,007 | ​ | ​ | 4,089,721 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Republic Processing Group: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Wholesale brokered deposits (1) | ​ | ​ | ​ | 199,960 | ​ | ​ | — | ​
Money market accounts | ​ | ​ | ​ | 18,664 | ​ | ​ | 3,849 | ​
Total RPG interest-bearing deposits | ​ | ​ | ​ | 218,624 | ​ | ​ | 3,849 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Noninterest-bearing prepaid card deposits | ​ | ​ | ​ | 318,769 | ​ | ​ | 328,655 | ​
Other noninterest-bearing deposits | ​ | ​ | ​ | 118,763 | ​ | ​ | 115,620 | ​
Total RPG noninterest-bearing deposits | ​ | ​ | ​ | 437,532 | ​ | ​ | 444,275 | ​
Total RPG deposits | ​ | ​ | ​ | 656,156 | ​ | ​ | 448,124 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total deposits | ​ | ​ | $ | 5,053,163 | ​ | $ | 4,537,845 | ​
(1) | Represents time deposits.
​ As of December 31, 2023, the scheduled maturities and weighted average rate of all time deposits, including brokered and reciprocal certificates of deposit, were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Weighted |
​ | ​ | ​ | ​ | ​ | Average |
Years (dollars in thousands) | ​ | Principal | ​ | Rate |
​ | ​ | ​ | ​ | ​ | ​ | ​
2024 | ​ | $ | 601,695 |  | 4.56 | %
2025 | ​ |  | 21,843 |  | 2.02 | ​
2026 | ​ |  | 93,070 |  | 5.07 | ​
2027 | ​ |  | 7,324 |  | 1.62 | ​
2028 | ​ |  | 16,846 |  | 4.01 | ​
Thereafter | ​ |  | — |  | — | ​
Total | ​ | $ | 740,778 |  | 4.51 | ​
​

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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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