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Note 8 - Deposits

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Deposits

Note 8. Deposits

The aggregate amount of certificates of deposit, each with a minimum denomination of $250,000, was $529.7 million and $511.4 million as of December 31, 2024 and 2023, respectively.

As of December 31, 2024, the scheduled maturities of certificates of deposit were as follows:

​

​	​	​	​
​	​	Amount
​	​	(dollars in thousands)
Year ending December 31:		​	​
2025	​	$	1,035,972
2026	​		30,737
2027	​		46,415
2028	​		54,461
2029	​		58,230
Thereafter	​		10
​	​	$	1,225,825
​	​	​	​

​

As of December 31, 2024 and 2023, the Company had public entity interest-bearing demand deposits and certificates of deposit that are collateralized by investment securities with carrying values as follows:

​

​	​	​	​	​	​	​
​		2024			2023
​	​	(dollars in thousands)
​	​	​	​	​	​	​
U.S. govt. sponsored agency securities	​	$	1,481	​	$	1,805
Residential mortgage-backed and related securities	​		2,022	​		2,114
​	​	$	3,503	​	$	3,919

​ ​ ​ ​ ​ ​ ​

​

Note 8. Deposits (continued)

The Company had a $240.0 million PUD LOC with the FHLB of Des Moines for the purpose of providing additional collateral on public deposits as of December 31, 2024. As of December 31, 2023, the Company had a $175.0 million PUD LOC with the FHLB of Des Moines. There were no amounts outstanding under these letters of credit as of December 31, 2024 or 2023.

​

Brokered deposits as of December 31, 2024 and 2023 were $358.3 million and $285.0 million, respectively.

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/1943274/2147478353/942-405-50-1

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

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- References

No definition available.

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