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DEPOSITS | 12 Months Ended
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Dec. 31, 2024
Deposits [Abstract] |
DEPOSITS | DEPOSITS Deposits in the accompanying consolidated balance sheets are classified as follows (in thousands):
|  | December 31, 2024 |  | December 31, 2023
Noninterest bearing demand deposits: |  |  |  |
Private accounts |  | $ | 1,301,298 |  |  | $ | 1,322,793 |
Public accounts |  | 55,854 |  |  | 67,614 |
Total noninterest bearing demand deposits |  | 1,357,152 |  |  | 1,390,407 |
Interest bearing deposits: |  |  |  |
Private accounts: |  |  |  |
Savings accounts |  | 593,322 |  |  | 602,050 |
Money market demand accounts |  | 375,651 |  |  | 356,506 |
Platinum money market accounts |  | 431,050 |  |  | 421,505 |
Interest bearing checking accounts |  | 1,752,997 |  |  | 1,897,017 |
NOW demand accounts |  | 23,796 |  |  | 14,507 |
CDs of $250,000 or more |  | 285,426 |  |  | 232,343 |
CDs under $250,000 |  | 658,286 |  |  | 489,584 |
Total private accounts |  | 4,120,528 |  |  | 4,013,512 |
Public accounts: |  |  |  |
Savings accounts |  | 2,236 |  |  | 2,000 |
Money market demand accounts |  | 28,502 |  |  | 31,808 |
Platinum money market accounts |  | 354,965 |  |  | 498,079 |
Interest bearing checking accounts |  | 83,575 |  |  | 75,573 |
NOW demand accounts |  | 438,573 |  |  | 370,752 |
CDs of $250,000 or more |  | 265,697 |  |  | 161,194 |
CDs under $250,000 |  | 3,020 |  |  | 6,356 |
Total public accounts |  | 1,176,568 |  |  | 1,145,762 |
Total interest bearing deposits |  | 5,297,096 |  |  | 5,159,274 |
Total deposits |  | $ | 6,654,248 |  |  | $ | 6,549,681 |
For the years ended December 31, 2024, 2023 and 2022, interest expense on CDs of $250,000 or more was $21.7 million, $13.0 million and $2.1 million, respectively. At December 31, 2024, the scheduled maturities of CDs, including public accounts, were as follows (in thousands):
2025 | $ | 1,152,166 |
2026 | 39,036 |
2027 | 12,020 |
2028 | 5,620 |
2029 | 3,587 |
2030 and thereafter | — |
| $ | 1,212,429 |
Brokered deposits may consist of CDs and non-maturity deposits. At December 31, 2024, we had $115.7 million brokered CDs. Brokered non-maturity deposits were $627.1 million at December 31, 2024 with a weighted average cost of 321 basis points. As of December 31, 2023, we had no brokered CDs and $828.0 million in brokered non-maturity deposits with a weighted average cost of 323 basis points. Our current policy allows for maximum brokered deposits of the lesser of $1.05 billion or 12% of total assets. At December 31, 2024 and 2023, we had approximately $7.9 million and $9.8 million, respectively, in deposits from related parties, including directors and named executive officers. The aggregate amount of demand deposit overdrafts that have been reclassified as loans were $1.2 million and $1.3 million at December 31, 2024 and 2023, respectively.

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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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