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Deposits
 12 Months Ended
Dec. 31, 2023
Deposits Liabilities, Balance Sheet, Reported Amounts [Abstract]  
Deposits Deposits
The following table provides information regarding the Bank’s deposit composition at December 31, 2023 and 2022 as well as the average rate being paid on interest bearing deposits for the month of December 2023 and 2022.
December 31,
(dollars in thousands)20232022
Noninterest-bearing demand
$2,279,081 $3,150,751 
Interest-bearing transaction
997,448 1,138,235 
Savings and money market3,314,043 3,640,697 
Time deposits2,217,467 783,499 
Total$8,808,039 $8,713,182 
The remaining maturity of time deposits at December 31, 2023 and 2022 were as follows:
(dollars in thousands)
2023
2022
2023$— $463,393 
20241,445,395 152,898 
2025576,379 157,320 
2026180,384 2,628 
20275,482 4,130 
20289,827 3,130 
Thereafter— — 
Total
$2,217,467 $783,499 
(dollars in thousands)20232022
Three months or less$342,552 $159,820 
More than three months through six months544,230 99,044 
More than six months through twelve months558,613 204,529 
Over twelve months772,072 320,106 
Total
$2,217,467 $783,499 
Interest expense on deposits for the years ended December 31, 2023, 2022 and 2021 was as follows:
(dollars in thousands)202320222021
Interest-bearing transaction
$46,140 $6,721 $1,609 
Savings and money market132,374 65,777 15,000 
Time deposits79,030 10,763 11,163 
Total$257,544 $83,261 $27,772 
Related Party deposits totaled $33.1 million and $31.8 million at December 31, 2023 and 2022, respectively.
As of December 31, 2023 and 2022, time deposit accounts in excess of $250 thousand were as follows:
(dollars in thousands)20232022
Three months or less$119,880 $87,959 
More than three months through six months318,353 51,746 
More than six months through twelve months368,103 108,877 
Over twelve months726,758 269,200 
Total$1,533,094 $517,782 
At December 31, 2023, total deposits included $2.5 billion of brokered deposits (excluding the CDARS and ICS two-way accounts), which represented 29% of total deposits. At December 31, 2022, total brokered deposits (excluding the CDARS and ICS two-way accounts) were $2.5 billion, or 29% of total deposits.