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DEPOSITS

3 Months Ended

Mar. 31, 2024

DEPOSITS

DEPOSITS

6. DEPOSITS

​

The composition of the deposit portfolio follows:

​

​	​	​	​	​	​	​	​
(in thousands)		March 31, 2024			December 31, 2023
​	​	​	​	​	​	​	​
Core Bank:	​	​	​	​	​	​	​
Demand	​	$	1,179,771	​	$	1,158,051	​
Money market accounts	​		1,078,549	​		1,007,356	​
Savings	​		355,260	​		263,238	​
Reciprocal money market	​		221,779	​		188,078	​
Individual retirement accounts (1)	​		34,208	​		33,793	​
Time deposits, $250 and over (1)	​		113,096	​		101,787	​
Other certificates of deposit (1)	​		239,258	​		225,614	​
Reciprocal time deposits (1)	​		90,857	​		90,857	​
Wholesale brokered deposits (1)	​	​	349,298	​	​	88,767	​
Total Core Bank interest-bearing deposits	​		3,662,076	​		3,157,541	​
Total Core Bank noninterest-bearing deposits	​	​	1,180,237	​	​	1,239,466	​
Total Core Bank deposits	​	​	4,842,313	​	​	4,397,007	​
​	​	​	​	​	​	​	​
Republic Processing Group:	​	​	​	​	​	​	​
Wholesale brokered deposits (1)	​	​	—	​	​	199,960	​
Interest-bearing prepaid card deposits	​	​	379,677	​	​	—	​
Money market accounts	​	​	19,380	​	​	18,664	​
Total RPG interest-bearing deposits	​	​	399,057	​	​	218,624	​
​	​	​	​	​	​	​	​
Noninterest-bearing prepaid card deposits	​	​	—	​	​	318,769	​
Other noninterest-bearing deposits	​	​	179,279	​	​	118,763	​
Total RPG noninterest-bearing deposits	​	​	179,279	​	​	437,532	​
Total RPG deposits	​	​	578,336	​	​	656,156	​
​	​	​	​	​	​	​	​
Total deposits	​	$	5,420,649	​	$	5,053,163	​

(1) Includes time deposit.

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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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