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Deposits

3 Months Ended

Mar. 31, 2023

Deposits.

Deposits

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10. Deposits

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The major components of interest-bearing and noninterest-bearing deposits at March 31, 2023 and December 31, 2022 are summarized as follows:

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​	​	​	​	​	​	​
​	​	​	​	​	​	​
(Dollars in thousands)		​	March 31, 2023		​	December 31, 2022
Interest-bearing deposits:	​	​	​	​	​	​
Money market accounts	​	$	775,511	​	$	685,323
Now accounts	​		698,888	​		772,712
Savings accounts	​		500,709	​		523,931
Time deposits less than $250	​		400,327	​		199,136
Time deposits $250 or more	​		114,443	​		92,731
Total interest-bearing deposits	​		2,489,878	​		2,273,833
Noninterest-bearing deposits	​		746,089	​		772,765
Total deposits	​	$	3,235,967	​	$	3,046,598

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The deposit base consisted of 48.6% retail accounts, 33.2% commercial accounts, 12.5% municipal relationships and 5.7% brokered deposits at March 31, 2023. At March 31, 2023, 76.6% of deposits were fully insured by the FDIC while $757.4 million or 23.4% of total deposits were uninsured by the FDIC. In addition, at March 31, 2023, $292.0 million in letters of credit issued by the FHLB were pledged as collateral for municipal deposits. As an additional resource to our uninsured depositors, we offer all depositors access to IntraFi's CDARS and ICS programs which allows deposit customers to obtain full FDIC deposit insurance while maintaining the deposit relationship with our Bank.

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 405
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=116652737&loc=d3e64164-112818

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.12)
-URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (e)

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406

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X

- References

No definition available.

+ Details

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