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DEPOSITS

12 Months Ended

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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- References

No definition available.

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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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