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DEPOSITS

9 Months Ended

Sep. 30, 2024

Deposits [Abstract]

DEPOSITS

5. DEPOSITS

Certificates of deposit that met or exceeded $250,000 totaled $140.7 million and $105.9 million at September 30, 2024 and December 31, 2023, respectively. These totals exclude brokered certificates of deposit, which the Company had none at September 30, 2024 and $120.5 million at December 31, 2023.

The following table sets forth the details of total deposits as of September 30, 2024 and December 31, 2023:

		September 30,								December 31,
		2024								2023
(Dollars in thousands)
Noninterest-bearing demand deposits		$	1,079,877				18.19	%		$	957,687				18.16	%
Interest-bearing checking (A)			3,316,217				55.87				2,882,193				54.65
Savings			103,979				1.75				111,573				2.12
Money market			902,562				15.21				740,559				14.04
Certificates of deposit - retail			515,297				8.68				443,791				8.41
Certificates of deposit - listing service			7,454				0.13				7,804				0.15
Subtotal deposits			5,925,386				99.83				5,143,607				97.53
Interest-bearing demand - Brokered			10,000				0.17				10,000				0.19
Certificates of deposit - Brokered			—				—				120,507				2.28
Total deposits		$	5,935,386				100.00	%		$	5,274,114				100.00	%

(A)Interest-bearing checking includes $1.4 billion at September 30, 2024 and $990.7 million at December 31, 2023 of reciprocal balances in the Reich & Tang or Promontory Demand Deposit Marketplace program.

The scheduled maturities of certificates of deposit, including brokered certificates of deposit, as of September 30, 2024, are as follows:

(In thousands)
2024		$	158,997
2025			337,013
2026			24,070
2027			1,240
2028			871
2029 and later			560
Total		$	522,751

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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

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X

- References

No definition available.

+ Details

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