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DEPOSITS | 3 Months Ended
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Mar. 31, 2024
Deposits [Abstract] |
DEPOSITS | DEPOSITS The Company’s deposits are summarized below:
(dollars in thousands) | March 31, 2024 |  | December 31, 2023
Noninterest-bearing deposits | $ | 1,047,074 |  |  | $ | 1,072,407 |
Interest-bearing deposits: |  |  |
Interest-bearing demand | 1,139,172 |  |  | 1,145,092 |
Money market | 802,685 |  |  | 803,381 |
Savings | 602,739 |  |  | 608,424 |
Time | 713,142 |  |  | 627,253 |
Brokered | 55,762 |  |  | 144,880 |
Total interest-bearing deposits | 3,313,500 |  |  | 3,329,030 |
Total deposits | $ | 4,360,574 |  |  | $ | 4,401,437 |
Reciprocal deposits included in interest-bearing demand deposits, money market deposits, and time deposits totaled $244.1 million and $236.8 million as of March 31, 2024 and December 31, 2023, respectively. The aggregate amounts of time deposits in denominations of $250 thousand or more amounted to $171.4 million and $130.2 million as of March 31, 2024 and December 31, 2023, respectively. The aggregate amounts of time deposits in denominations of $100 thousand or more amounted to $406.4 million and $342.8 million as of March 31, 2024 and December 31, 2023, respectively. The components of interest expense on deposits are as follows:
| Three Months Ended March 31, |  |
(dollars in thousands) | 2024 |  | 2023 |  |  |  |  |  |
Interest-bearing demand | $ | 1,311 |  |  | $ | 458 |  |  |  |  |  |  |
Money market | 4,797 |  |  | 935 |  |  |  |  |  |  |
Savings | 443 |  |  | 178 |  |  |  |  |  |  |
Time | 5,925 |  |  | 803 |  |  |  |  |  |  |
Brokered | 1,117 |  |  | — |  |  |  |  |  |  |
Total interest expense on deposits | $ | 13,593 |  |  | $ | 2,374 |  |  |  |  |  |  |

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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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