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Deposits

3 Months Ended

Mar. 31, 2023

Deposits [Abstract]

Deposits

Deposits

The composition of deposits is shown below. Average balances represent year-to-date averages.

						March 31, 2023																		December 31, 2022
						Balance						Average Balance						Average Rate						Balance						Average Balance						Average Rate
						(Dollars in Thousands)
Non-interest-bearing transaction accounts						$	471,904					$	497,769					—		%				$	537,107					$	566,230					—		%
Interest-bearing transaction accounts						612,500						567,435						2.71						576,601						503,668						0.79
Money market accounts						662,157						699,314						2.57						698,505						761,469						0.82
Certificates of deposit						308,191						236,083						3.59						153,757						97,448						1.39
Wholesale deposits						422,088						187,785						4.21						202,236						48,825						3.31
Total deposits						$	2,476,840					$	2,188,386					2.27						$	2,168,206					$	1,977,640					0.67

A summary of annual maturities of in-market and wholesale certificates of deposit at March 31, 2023 is as follows:

(In Thousands)
Maturities during the year ended December 31,
2023						$	454,902
2024						55,606
2025						14,946
2026						50,824
2027						74,397
Thereafter						14,604
						$	665,279

Wholesale deposits include $357.1 million and $65.0 million of wholesale certificates of deposit and non-reciprocal interest-bearing transaction accounts, respectively, at March 31, 2023, compared to $187.2 million and $15.0 million of wholesale certificates of deposit and non-reciprocal interest-bearing transaction accounts, respectively, at December 31, 2022.

Certificates of deposit and wholesale deposits denominated in amounts greater than $250,000 were $153.3 million at March 31, 2023 and $81.6 million at December 31, 2022.

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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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- References

No definition available.

+ Details

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