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DEPOSITS | 12 Months Ended
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Dec. 31, 2024
DEPOSITS |
DEPOSITS |
9. | DEPOSITS
​ The composition of the deposit portfolio follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, (in thousands) |  |  | 2024 |  | 2023 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Core Bank: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Demand | ​ | ​ | $ | 1,166,517 | ​ | $ | 1,158,051 | ​
Money market accounts | ​ | ​ |  | 1,295,024 | ​ |  | 1,007,356 | ​
Savings | ​ | ​ |  | 238,596 | ​ |  | 263,238 | ​
Reciprocal money market | ​ | ​ |  | 212,033 | ​ |  | 188,078 | ​
Individual retirement accounts (1) | ​ | ​ |  | 34,543 | ​ |  | 33,793 | ​
Time deposits, $250 and over (1) | ​ | ​ |  | 129,593 | ​ |  | 101,787 | ​
Other certificates of deposit (1) | ​ | ​ |  | 239,643 | ​ |  | 225,614 | ​
Reciprocal time deposits (1) | ​ | ​ |  | 80,016 | ​ |  | 90,857 | ​
Wholesale brokered deposits (1) | ​ | ​ | ​ | 87,285 | ​ | ​ | 88,767 | ​
Total Core Bank interest-bearing deposits | ​ | ​ |  | 3,483,250 | ​ |  | 3,157,541 | ​
Total Core Bank noninterest-bearing deposits | ​ | ​ | ​ | 1,123,208 | ​ | ​ | 1,239,466 | ​
Total Core Bank deposits | ​ | ​ | ​ | 4,606,458 | ​ | ​ | 4,397,007 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Republic Processing Group: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Wholesale brokered deposits (1) | ​ | ​ | ​ | 199,964 | ​ | ​ | 199,960 | ​
Interest-bearing prepaid card deposits | ​ | ​ | ​ | 296,921 | ​ | ​ | — | ​
Money market accounts | ​ | ​ | ​ | 22,647 | ​ | ​ | 18,664 | ​
Total RPG interest-bearing deposits | ​ | ​ | ​ | 519,532 | ​ | ​ | 218,624 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Noninterest-bearing prepaid card deposits | ​ | ​ | ​ | 2,842 | ​ | ​ | 318,769 | ​
Other noninterest-bearing deposits | ​ | ​ | ​ | 81,714 | ​ | ​ | 118,763 | ​
Total RPG noninterest-bearing deposits | ​ | ​ | ​ | 84,556 | ​ | ​ | 437,532 | ​
Total RPG deposits | ​ | ​ | ​ | 604,088 | ​ | ​ | 656,156 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total deposits | ​ | ​ | $ | 5,210,546 | ​ | $ | 5,053,163 | ​
(1) | Represents time deposits.
​ As of December 31, 2024, 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 |
​ | ​ | ​ | ​ | ​ | ​ | ​
2025 | ​ | $ | 624,381 |  | 4.20 | %
2026 | ​ |  | 94,307 |  | 5.04 | ​
2027 | ​ |  | 11,062 |  | 2.28 | ​
2028 | ​ |  | 17,745 |  | 3.96 | ​
2029 | ​ |  | 23,549 |  | 3.87 | ​
Thereafter | ​ |  | — |  | — | ​
Total | ​ | $ | 771,044 |  | 4.26 | ​
​

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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/1943274/2147478353/942-405-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(12)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Paragraph e -Publisher SEC Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Publisher SEC + Details
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