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Deposits (Tables)
 12 Months Ended
Dec. 31, 2023
Deposits [Abstract]  
Summary of Deposits

A summary of deposits as of December 31 is as follows (in thousands):

 

 

 

2023

 

 

2022

 

Noninterest-bearing demand

 

$

1,010,614

 

 

$

1,139,214

 

Interest-bearing demand

 

 

713,158

 

 

 

863,822

 

Savings and money market

 

 

2,084,444

 

 

 

1,643,516

 

Time deposits, due:

 

 

 

 

 

 

Within one year

 

 

1,310,495

 

 

 

1,238,202

 

One to two years

 

 

79,684

 

 

 

35,046

 

Two to three years

 

 

12,391

 

 

 

4,952

 

Three to four years

 

 

1,634

 

 

 

3,386

 

Four to five years

 

 

492

 

 

 

1,286

 

Thereafter

 

 

-

 

 

 

-

 

Total time deposits

 

 

1,404,696

 

 

 

1,282,872

 

Total deposits

 

$

5,212,912

 

 

$

4,929,424

 
Interest Expense by Deposits Type

Interest expense by deposit type for the years ended December 31 is summarized as follows (in thousands):

 

 

 

2023

 

 

2022

 

 

2021

 

Interest-bearing demand

 

$

7,127

 

 

$

2,180

 

 

$

1,156

 

Savings and money market

 

 

41,424

 

 

 

9,778

 

 

 

3,363

 

Time deposits

 

 

58,810

 

 

 

11,036

 

 

 

3,599

 

Total interest expense on deposits

 

$

107,361

 

 

$

22,994

 

 

$

8,118