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Deposits

6 Months Ended

Jun. 30, 2024

Deposits [Abstract]

Deposits

Deposits

Deposits consist of the following categories as of the dates indicated:

(dollars in thousands)						June 30, 2024												December 31, 2023
						Balance						%						Balance						%
Noninterest-bearing demand						$	1,587,252					30.83		%				$	1,258,037					23.36		%
Interest-bearing:
Demand						658,512						12.79		%				1,165,546						21.64		%
Money market deposits						1,337,274						25.97		%				1,430,603						26.56		%
Savings						352,069						6.84		%				347,324						6.45		%
Certificates of deposit						1,213,778						23.57		%				1,184,610						21.99		%
Total interest-bearing						3,561,633						69.17		%				4,128,083						76.64		%
Total Deposits						$	5,148,885					100.00		%				$	5,386,120					100.00		%

At June 30, 2024, the scheduled contractual maturities of certificates of deposit are as follows:

(dollars in thousands)						June 30, 2024
Within one year						$	1,012,597
Year 2						169,730
Year 3						16,729
Year 4						8,512
Year 5						6,206
Thereafter						4
						$	1,213,778

The aggregate amount of certificates of deposit that met or exceeded the FDIC insurance limit of $250,000 at June 30, 2024 and December 31, 2023 was $372.7 million and $354.6 million, 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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