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Deposits

9 Months Ended

Sep. 30, 2024

Deposits

Deposits

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12. Deposits

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The major components of interest-bearing and noninterest-bearing deposits at September 30, 2024 and December 31, 2023 are summarized as follows:

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​	​	​	​	​	​	​
​	​	​	​	​	​	​
(Dollars in thousands)		​	September 30, 2024		​	December 31, 2023
Interest-bearing deposits:	​	​	​	​	​	​
Money market accounts	​	$	1,018,575	​	$	782,243
NOW accounts	​		1,439,382	​		796,426
Savings accounts	​		509,412	​		429,011
Time deposits less than $250	​		824,791	​		505,409
Time deposits $250 or more	​		128,139	​		121,265
Total interest-bearing deposits	​		3,920,299	​		2,634,354
Noninterest-bearing deposits	​		717,565	​		644,683
Total deposits	​	$	4,637,864	​	$	3,279,037

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The FNCB merger added $1.3 billion of retail deposits and $140.6 million of brokered deposits. The combined deposit base consisted of 38.6% retail accounts, 33.3% commercial accounts, 19.7% municipal relationships and 8.4% brokered deposits at September 30, 2024. At September 30, 2024, total estimated uninsured deposits, were approximately $1.6 billion, or approximately 33.8% of total deposits; as compared to approximately $883.5 million, or 26.9% of total deposits at December 31, 2023. Included in the uninsured total at September 30, 2024 is $372.5 million of municipal deposits collateralized by letters of credit issued by the FHLB and pledged investment securities, and $2.6 million of affiliate company deposits. We also offer customers access to IntraFi's CDARS and ICS programs through which their deposits may be allocated to separate FDIC-insured institutions, while they are able to maintain their relationship with our bank.

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The scheduled maturities of time deposits are summarized below, through September 30 of each year:

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​	​	​	​	​
(Dollars in thousands)		​	​	​
2025		$	645,140	​
2026	​		121,549	​
2027	​		70,920	​
2028	​		104,268	​
2029	​		6,240	​
Thereafter	​		4,813	​
​	​	$	952,930	​

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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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