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DEPOSITS | 12 Months Ended
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Dec. 31, 2024
Deposits [Abstract] |
DEPOSITS | DEPOSITS The Company’s deposits are summarized below:
(dollars in thousands) | December 31, 2024 |  | December 31, 2023
Noninterest-bearing deposits | $ | 1,046,405 |  |  | $ | 1,072,407 |
Interest-bearing deposits: |  |  |
Interest-bearing demand | 1,099,061 |  |  | 1,145,092 |
Money market | 820,825 |  |  | 803,381 |
Savings | 566,533 |  |  | 608,424 |
Time | 785,430 |  |  | 627,253 |
Brokered | — |  |  | 144,880 |
Total interest-bearing deposits | 3,271,849 |  |  | 3,329,030 |
Total deposits | $ | 4,318,254 |  |  | $ | 4,401,437 |
Reciprocal deposits included in interest-bearing demand deposits, money market deposits, and time deposits totaled $229.4 million and $236.8 million as of December 31, 2024 and 2023, respectively. The aggregate amounts of time deposits in denominations of $250 thousand or more amounted to $202.2 million and $130.2 million as of December 31, 2024 and 2023, respectively. The aggregate amounts of time deposits in denominations of $100 thousand or more amounted to $455.2 million and $342.8 million as of December 31, 2024 and 2023, respectively. The components of interest expense on deposits were as follows:
|  |  | Year Ended December 31,
(dollars in thousands) |  |  |  |  | 2024 |  | 2023 |  | 2022
Interest-bearing demand |  |  |  |  | $ | 5,499 |  |  | $ | 3,130 |  |  | $ | 607 |
Money market |  |  |  |  | 18,637 |  |  | 7,352 |  |  | 813 |
Savings |  |  |  |  | 1,621 |  |  | 1,033 |  |  | 208 |
Time |  |  |  |  | 28,183 |  |  | 10,784 |  |  | 883 |
Brokered |  |  |  |  | 2,107 |  |  | 2,836 |  |  | — |
Total interest expense on deposits |  |  |  |  | $ | 56,047 |  |  | $ | 25,135 |  |  | $ | 2,511 |
At December 31, 2024, the scheduled maturities of time deposits are as follows (dollars in thousands):
Year ended December 31, |
2025 | $ | 742,741 |
2026 | 29,443 |
2027 | 7,445 |
2028 | 3,582 |
2029 | 2,128 |
Thereafter | 91 |
Total | $ | 785,430 |

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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/1943274/2147478353/942-405-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(12)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Paragraph e -Publisher SEC Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Publisher SEC + Details
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- References No definition available. + Details
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