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DEPOSITS | 6 Months Ended
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Jun. 30, 2024
Deposits [Abstract] |
DEPOSITS | DEPOSITS The Company’s deposits are summarized below:
(dollars in thousands) | June 30, 2024 |  | December 31, 2023
Noninterest-bearing deposits | $ | 1,045,697 |  |  | $ | 1,072,407 |
Interest-bearing deposits: |  |  |
Interest-bearing demand | 1,094,797 |  |  | 1,145,092 |
Money market | 769,386 |  |  | 803,381 |
Savings | 582,752 |  |  | 608,424 |
Time | 796,069 |  |  | 627,253 |
Brokered | 29,992 |  |  | 144,880 |
Total interest-bearing deposits | 3,272,996 |  |  | 3,329,030 |
Total deposits | $ | 4,318,693 |  |  | $ | 4,401,437 |
Reciprocal deposits included in interest-bearing demand deposits, money market deposits, and time deposits totaled $227.0 million and $236.8 million as of June 30, 2024 and December 31, 2023, respectively. The aggregate amounts of time deposits in denominations of $250 thousand or more amounted to $217.4 million and $130.2 million as of June 30, 2024 and December 31, 2023, respectively. The aggregate amounts of time deposits in denominations of $100 thousand or more amounted to $474.0 million and $342.8 million as of June 30, 2024 and December 31, 2023, respectively. The components of interest expense on deposits were as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(dollars in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Interest-bearing demand | $ | 1,429 |  |  | $ | 683 |  |  | $ | 2,740 |  |  | $ | 1,141 |  |  |
Money market | 4,670 |  |  | 1,506 |  |  | 9,467 |  |  | 2,441 |  |  |
Savings | 393 |  |  | 189 |  |  | 836 |  |  | 367 |  |  |
Time | 7,117 |  |  | 1,933 |  |  | 13,042 |  |  | 2,736 |  |  |
Brokered | 524 |  |  | 12 |  |  | 1,641 |  |  | 12 |  |  |
Total interest expense on deposits | $ | 14,133 |  |  | $ | 4,323 |  |  | $ | 27,726 |  |  | $ | 6,697 |  |  |

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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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