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DEPOSITS

12 Months Ended

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

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- References

No definition available.

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