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Deposits (Tables)
 12 Months Ended
Dec. 31, 2021
Deposits [Abstract]  
Summary of Deposits

As of December 31, 2021 and 2020, deposits consisted of the following (in thousands):

 

 

 

2021

 

 

2020

 

Demand deposits:

 

 

 

 

 

 

 

 

Non-interest bearing

 

$

1,246,673

 

 

$

936,926

 

Interest-bearing

 

 

1,452,765

 

 

 

1,031,183

 

Savings

 

 

626,523

 

 

 

499,427

 

Money market

 

 

1,068,473

 

 

 

748,179

 

Time deposits

 

 

562,052

 

 

 

477,069

 

Total deposits

 

$

4,956,486

 

 

$

3,692,784

 
Summary of Interest Expense on Deposits

Total interest expense on deposits for the years ended December 31, 2021, 2020, and 2019 was as follows (in thousands):

 

 

 

2021

 

 

2020

 

 

2019

 

Interest-bearing demand

 

$

1,547

 

 

$

1,462

 

 

$

2,741

 

Savings

 

 

487

 

 

 

426

 

 

 

590

 

Money market

 

 

2,711

 

 

 

2,270

 

 

 

3,742

 

Time deposits

 

 

4,292

 

 

 

8,593

 

 

 

11,866

 

Total

 

$

9,037

 

 

$

12,751

 

 

$

18,939

 
Summary of Aggregate Amount of Time Deposits more than 100,000

As of December 31, 2021, 2020, and 2019, the aggregate amount of time deposits in denominations of more than $250,000 was as follows (in thousands):

 

 

 

2021

 

 

2020

 

 

2019

 

Time deposit balances in denominations of more than $250,000

 

$

117,887

 

 

$

98,277

 

 

$

107,285

 
Summary of Maturities for All Time Deposits

 

The following table shows the amount of maturities for all time deposits as of December 31, 2021 (in thousands):

 

Less than 1 year

 

$

417,991

 

1 year to 2 years

 

 

81,146

 

2 years to 3 years

 

 

29,135

 

3 years to 4 years

 

 

15,483

 

4 years to 5 years

 

 

18,233

 

Over 5 years

 

 

64

 

Total

 

$

562,052