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DEPOSITS | 12 Months Ended
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Dec. 31, 2023
Deposits [Abstract] |
DEPOSITS | DEPOSITS The Company’s deposits are summarized below:
(dollars in thousands) | December 31, 2023 |  | December 31, 2022
Noninterest-bearing deposits | $ | 1,072,407 |  |  | $ | 994,954 |
Interest-bearing deposits: |  |  |
Interest-bearing demand | 1,145,092 |  |  | 1,139,150 |
Money market | 803,381 |  |  | 555,425 |
Savings | 608,424 |  |  | 634,527 |
Time | 627,253 |  |  | 262,968 |
Brokered | 144,880 |  |  | — |
Total interest-bearing deposits | 3,329,030 |  |  | 2,592,070 |
Total deposits | $ | 4,401,437 |  |  | $ | 3,587,024 |
Interest-bearing demand deposits included $51.3 million of reciprocal transaction deposits as of December 31, 2023. Money market deposits included $155.1 million and $1.7 million of reciprocal transaction deposits as of December 31, 2023 and 2022, respectively. Time deposits included $30.5 million and $1.6 million of reciprocal time deposits as of December 31, 2023, and 2022, respectively. The aggregate amounts of time deposits in denominations of $250 thousand or more amounted to $130.2 million and $27.2 million as of December 31, 2023 and 2022, respectively. The aggregate amounts of time deposits in denominations of $100 thousand or more amounted to $342.8 million and $92.6 million as of December 31, 2023 and 2022, respectively. The components of interest expense on deposits are as follows:
|  |  | Year Ended December 31,
(dollars in thousands) |  |  |  |  | 2023 |  | 2022 |  | 2021
Interest-bearing demand |  |  |  |  | $ | 3,130 |  |  | $ | 607 |  |  | $ | 518 |
Money market |  |  |  |  | 7,352 |  |  | 813 |  |  | 437 |
Savings |  |  |  |  | 1,033 |  |  | 208 |  |  | 188 |
Time |  |  |  |  | 10,784 |  |  | 883 |  |  | 1,329 |
Brokered |  |  |  |  | 2,836 |  |  | — |  |  | — |
Total interest expense on deposits |  |  |  |  | $ | 25,135 |  |  | $ | 2,511 |  |  | $ | 2,472 |

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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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- References No definition available. + Details
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