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DEPOSITS

12 Months Ended

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

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- References

No definition available.

+ Details

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