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Deposits
 12 Months Ended
Dec. 31, 2021
Deposits Liabilities, Balance Sheet, Reported Amounts [Abstract]  
Deposits Deposits
The following table provides information regarding the Bank’s deposit composition at December 31, 2021 and 2020 as well as the average rate being paid on interest bearing deposits for the month of December 2021 and 2020.
December 31,
(dollars in thousands)20212020
Noninterest bearing demand$3,277,956 $2,809,334 
Interest bearing transaction777,255 756,923 
Savings and money market5,197,247 4,645,186 
Time deposits729,082 977,760 
Total$9,981,540 $9,189,203 
The remaining maturity of time deposits at December 31, 2021 and 2020 are as follows:
(dollars in thousands)20212020
2021$— $556,221 
2022478,057 232,462 
2023168,279 114,782 
202458,908 53,942 
202518,454 17,223 
20262,254 — 
Thereafter3,130 3,130 
   Total$729,082 $977,760 
(dollars in thousands)20212020
Three months or less$97,937 $230,892 
More than three months through six months171,508 191,656 
More than six months through twelve months208,612 133,673 
Over twelve months251,025 421,539 
   Total$729,082 $977,760 
Interest expense on deposits for the years ended December 31, 2021, 2020 and 2019 is as follows:
(dollars in thousands)202120202019
Interest bearing transaction$1,609 $3,190 $6,491 
Savings and money market15,000 26,272 50,042 
Time deposits11,163 24,104 34,493 
Total$27,772 $53,566 $91,026 
Related Party deposits totaled $71.1 million and $25.7 million at December 31, 2021 and 2020, respectively.
As of December 31, 2021 and 2020, time deposit accounts in excess of $250 thousand are as follows:
Time deposits $250,000 or more
(dollars in thousands)20212020
Three months or less$16,663 $32,967 
More than three months through six months56,619 122,192 
More than six months through twelve months48,271 47,638 
Over twelve months30,907 28,280 
Total$152,460 $231,077