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Deposits

9 Months Ended

Sep. 30, 2024

Deposits [Abstract]

Deposits

Deposits

Deposits consisted of the following as of September 30, 2024 and December 31, 2023:

(Dollars in thousands)			September 30, 2024						% of Total Deposits						December 31, 2023						% of Total Deposits
Noninterest-bearing demand deposits			$	791,980					16.8		%				$	801,312					18.4		%
Interest-bearing demand deposits			1,098,658						23.4		%				947,372						21.8		%
Money market			925,399						19.7		%				850,674						19.6		%
Savings			264,726						5.6		%				288,404						6.6		%
Total demand and savings			3,080,763						65.5		%				2,887,762						66.4		%
Time			1,626,001						34.5		%				1,458,450						33.6		%
Total deposits			$	4,706,764					100.0		%				$	4,346,212					100.0		%
Overdrafts			$	128					0.00		%				$	315					0.01		%

The scheduled maturities of time deposits at September 30, 2024 were as follows:

			Time Deposits
(In thousands)			Less than $250,000						$250,000 or more
Maturing in 2024			$	543,695					$	193,278
Maturing in 2025			580,141						213,497
Maturing in 2026			49,155						7,741
Maturing in 2027			19,627						1,210
Maturing in 2028			9,772						264
Maturing thereafter			7,329						292
			$	1,209,719					$	416,282

Mid Penn had $269.8 million and $244.8 million in brokered certificates of deposits as of September 30, 2024 and December 31, 2023, respectively. As of September 30, 2024 and December 31, 2023, Mid Penn had $83.8 million and $96.7 million of CDAR deposits, respectively.

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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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