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Deposits | 6 Months Ended
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Jun. 30, 2024
Deposits [Abstract] |
Deposits | Note 8 — Deposits The composition of deposits is shown below. Average balances represent year-to-date averages.
|  | June 30, 2024 |  |  | December 31, 2023 |
|  | Balance |  |  | Average Balance |  |  | Average Rate |  |  | Balance |  |  | Average Balance |  |  | Average Rate |
|  | (Dollars in Thousands) |
Non-interest-bearing transaction accounts |  | $ | 406,804 |  |  | $ | 440,192 |  |  |  | — | % |  | $ | 445,376 |  |  | $ | 453,930 |  |  |  | — | %
Interest-bearing transaction accounts |  |  | 841,146 |  |  |  | 871,824 |  |  |  | 3.94 |  |  |  | 895,319 |  |  |  | 689,500 |  |  |  | 3.44 |
Money market accounts |  |  | 837,569 |  |  |  | 788,869 |  |  |  | 4.01 |  |  |  | 711,245 |  |  |  | 681,336 |  |  |  | 3.25 |
Certificates of deposit |  |  | 224,116 |  |  |  | 259,891 |  |  |  | 4.63 |  |  |  | 287,131 |  |  |  | 273,387 |  |  |  | 4.10 |
Wholesale deposits |  |  | 575,548 |  |  |  | 466,843 |  |  |  | 4.06 |  |  |  | 457,708 |  |  |  | 346,285 |  |  |  | 4.14 |
Total deposits |  | $ | 2,885,183 |  |  | $ | 2,827,619 |  |  |  | 3.43 |  |  | $ | 2,796,779 |  |  | $ | 2,444,438 |  |  |  | 2.92 |
A summary of annual maturities of core and wholesale certificates of deposit at June 30, 2024 is as follows:
(In Thousands) |  |  |
Maturities during the year ended December 31, |  |  |
2024 |  | $ | 462,762 |
2025 |  |  | 42,937 |
2026 |  |  | 50,561 |
2027 |  |  | 73,511 |
2028 |  |  | 12,821 |
Thereafter |  |  | 2,072 |
|  | $ | 644,664 |
Wholesale deposits include $420.5 million and $155.0 million of wholesale certificates of deposit and non-reciprocal interest-bearing transaction accounts, respectively, at June 30, 2024, compared to $407.7 million and $50.0 million of wholesale certificates of deposit and non-reciprocal interest-bearing transaction accounts, respectively, at December 31, 2023. The Corporation has entered into derivative contracts hedging a portion of the certificates of deposit included in the 2024 maturities above. As of June 30, 2024, the notional amount of derivatives designated as cash flow hedges totaled $359.3 million with a weighted average remaining maturity of 3.83 years and a weighted average rate of 3.97%. Certificates of deposit and wholesale deposits denominated in amounts greater than $250,000 were $87.0 million at June 30, 2024 and $120.2 million at December 31, 2023.

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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 + Details
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