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DEPOSITS | 12 Months Ended
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Dec. 31, 2023
Deposits [Abstract] |
DEPOSITS | 9. DEPOSITS The Company had $1.40 billion and $991.2 million of total time deposits as of December 31, 2023 and 2022, respectively. Contractual maturities of total time deposits as of December 31, 2023 were as follows:
(Dollars in thousands) |
Year Ending December 31: |
2024 | $ | 1,355,914 |
2025 | 22,615 |
2026 | 8,425 |
2027 | 4,718 |
2028 | 3,280 |
Thereafter | 339 |
Total | $ | 1,395,291 |
Time deposits that meet or exceed the FDIC insurance limit of $250,000 totaled $899.3 million and $678.6 million at December 31, 2023 and 2022, respectively. This includes $374.6 million and $290.1 million in government time deposits at December 31, 2023 and 2022, respectively, which are fully collateralized. Contractual maturities of time deposits of $250,000 or more as of December 31, 2023 were as follows:
(Dollars in thousands) |
Three months or less | $ | 497,324 |
Over three months through six months | 223,732 |
Over six months through twelve months | 170,687 |
2025 | 4,518 |
2026 | 2,079 |
2027 | 640 |
2028 | 328 |
Thereafter | — |
Total | $ | 899,308 |
Overdrawn deposit accounts totaling $0.7 million and $0.7 million have been reclassified as loans on the Company's consolidated balance sheets as of December 31, 2023 and 2022, 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//1943274/2147481047/942-405-50-1 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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