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Deposits | 6 Months Ended
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Jun. 30, 2023
Deposits [Abstract] |
Deposits | Deposits Total deposits of $15.62 billion at June 30, 2023, were down $119.4 million, or 0.8%, from $15.74 billion at December 31, 2022. The aggregate amount of time deposits in denominations of more than $250 thousand at June 30, 2023 and December 31, 2022, was $2.43 billion and $2.39 billion, respectively. Included in time deposits of more than $250 thousand was $300.0 million in California State Treasurer’s deposits at June 30, 2023 and December 31, 2022. The California State Treasurer’s deposits are subject to withdrawal based on the State’s periodic evaluations. The Company is required to pledge eligible collateral of at least 110% of outstanding deposits. At June 30, 2023 and December 31, 2022, securities with fair values of approximately $332.6 million and $348.0 million, respectively, were pledged as collateral for the California State Treasurer’s deposit. Brokered deposits at June 30, 2023 and December 31, 2022, totaled $2.28 billion and $1.18 billion, respectively. Brokered deposits at June 30, 2023, consisted of $70.0 million in money market and NOW accounts and $2.21 billion in time deposit accounts. Brokered deposits at December 31, 2022, consisted of $70.2 million in money market and NOW accounts and $1.11 billion in time deposit accounts. The year-to-date increase in brokered deposits reflected the recent banking industry disruption caused by multiple bank failures in the first half of 2023. The following is a breakdown of the Company’s deposits at June 30, 2023 and December 31, 2022:
| June 30, 2023 |  | December 31, 2022
| Balance |  | Percentage (%) |  | Balance |  | Percentage (%)
| (Dollars in thousands)
Noninterest bearing demand deposits | $ | 4,229,247 |  |  | 27 | % |  | $ | 4,849,493 |  |  | 31 | %
Money market and NOW accounts | 4,188,584 |  |  | 27 | % |  | 5,615,784 |  |  | 36 | %
Savings deposits | 224,495 |  |  | 1 | % |  | 283,464 |  |  | 2 | %
Time deposits | 6,977,026 |  |  | 45 | % |  | 4,990,060 |  |  | 31 | %
Total deposits | $ | 15,619,352 |  |  | 100 | % |  | $ | 15,738,801 |  |  | 100 | %

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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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