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Deposits

12 Months Ended

Dec. 31, 2023

Deposits Liabilities, Balance Sheet, Reported Amounts [Abstract]

Deposits

Deposits

The Company’s deposits consisted of the following major classifications as of December 31 of the years indicated.

(dollars in thousands)						2023						2022
Demand deposit accounts						$	744,424					$	904,301
Savings						231,624						305,871
Money market accounts						408,024						423,990
NOW accounts						641,818						663,574
Certificates of deposit						644,734						335,445
Total deposits						$	2,670,624					$	2,633,181

As of December 31, 2023, the scheduled maturities of the Company’s certificates of deposit were as follows.

(dollars in thousands)						Amount
2024						$	544,504
2025						86,770
2026						6,225
2027						2,975
2028						2,258
Thereafter						2,002
Total certificates of deposit						$	644,734

The amount of our total uninsured deposits (that is, deposits in excess of the FDIC insurance limit) was $748,586,000 and $830,932,000 at December 31, 2023 and December 31, 2022, respectively. As of December 31, 2023 and 2022, the aggregate amount of certificates of deposit with balances of $250,000 or more was $190,733,000 and $69,442,000, 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//1943274/2147481047/942-405-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (e)
-Publisher SEC

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

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.12)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1

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- References

No definition available.

+ Details

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