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Deposits | 12 Months Ended
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Dec. 31, 2024
Deposits Liabilities, Balance Sheet, Reported Amounts [Abstract] |
Deposits | Deposits The following table provides information regarding the Bank’s deposit composition at December 31, 2024 and 2023 as well as the average rate being paid on interest bearing deposits for the month of December 2024 and 2023.
|  | December 31, |
(dollars in thousands) |  | 2024 | 2023 |
Noninterest-bearing demand |  | $ | 1,544,403 |  |  | $ | 2,279,081 |  |
Interest-bearing transaction |  | 1,211,791 |  |  | 997,448 |  |
Savings and money market |  | 3,599,221 |  |  | 3,314,043 |  |
Time deposits |  | 2,775,663 |  |  | 2,217,467 |  |
Total |  | $ | 9,131,078 |  |  | $ | 8,808,039 |  |
The remaining maturity of time deposits at December 31, 2024 and 2023 were as follows:
(dollars in thousands) |  | 2024 |  | 2023
2024 |  | $ | — |  |  | $ | 1,445,395 |
2025 |  | 2,210,348 |  |  | 576,379 |
2026 |  | 513,984 |  |  | 180,384 |
2027 |  | 8,392 |  |  | 5,482 |
2028 |  | 10,556 |  |  | 9,827 |
2029 |  | 32,383 |  |  | — |
Thereafter |  | — |  |  | — |
Total |  | $ | 2,775,663 |  |  | $ | 2,217,467 |
(dollars in thousands) |  | 2024 |  | 2023
Three months or less |  | $ | 337,671 |  |  | $ | 342,552 |
More than three months through six months |  | 578,371 |  |  | 544,230 |
More than six months through twelve months |  | 1,294,306 |  |  | 558,613 |
Over twelve months |  | 565,315 |  |  | 772,072 |
Total |  | $ | 2,775,663 |  |  | $ | 2,217,467 |
Interest expense on deposits for the years ended December 31, 2024, 2023 and 2022 was as follows:
(dollars in thousands) |  | 2024 |  | 2023 |  | 2022
Interest-bearing transaction |  | $ | 60,573 |  |  | $ | 46,140 |  |  | $ | 6,721 |
Savings and money market |  | 139,539 |  |  | 132,374 |  |  | 65,777 |
Time deposits |  | 120,309 |  |  | 79,030 |  |  | 10,763 |
Total |  | $ | 320,421 |  |  | $ | 257,544 |  |  | $ | 83,261 |
Related Party deposits totaled $28.6 million and $33.1 million at December 31, 2024 and 2023, respectively. As of December 31, 2024 and 2023, time deposit accounts in excess of $250 thousand were as follows:
(dollars in thousands) |  | 2024 |  | 2023
Three months or less |  | $ | 189,817 |  |  | $ | 119,880 |
More than three months through six months |  | 387,849 |  |  | 318,353 |
More than six months through twelve months |  | 710,021 |  |  | 368,103 |
Over twelve months |  | 421,530 |  |  | 726,758 |
Total |  | $ | 1,709,217 |  |  | $ | 1,533,094 |
At December 31, 2024, total brokered deposits were $4.0 billion, or 44% of total deposits, of which $1.4 billion were attributable to the Certificates of Deposit Account Registry Service ("CDARS") and Insured Cash Sweep ("ICS") two-way accounts. At December 31, 2023, total brokered deposits (which did not include the CDARS and ICS two-way) were $2.5 billion, or 29% of total deposits.

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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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