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Deposits | 9 Months Ended
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Sep. 30, 2024
Deposits [Abstract] |
Deposits | Note 8 — Deposits The composition of deposits is shown below. Average balances represent year-to-date averages.
|  | September 30, 2024 |  |  | December 31, 2023 |
|  | Balance |  |  | Average Balance |  |  | Average Rate |  |  | Balance |  |  | Average Balance |  |  | Average Rate |
|  | (Dollars in Thousands) |
Non-interest-bearing transaction accounts |  | $ | 428,012 |  |  | $ | 440,182 |  |  |  | — | % |  | $ | 445,376 |  |  | $ | 453,930 |  |  |  | — | %
Interest-bearing transaction accounts |  |  | 930,252 |  |  |  | 869,511 |  |  |  | 3.93 |  |  |  | 895,319 |  |  |  | 689,500 |  |  |  | 3.44 |
Money market accounts |  |  | 817,129 |  |  |  | 809,593 |  |  |  | 4.05 |  |  |  | 711,245 |  |  |  | 681,336 |  |  |  | 3.25 |
Certificates of deposit |  |  | 207,337 |  |  |  | 246,267 |  |  |  | 4.65 |  |  |  | 287,131 |  |  |  | 273,387 |  |  |  | 4.10 |
Wholesale deposits |  |  | 587,217 |  |  |  | 488,543 |  |  |  | 4.08 |  |  |  | 457,708 |  |  |  | 346,285 |  |  |  | 4.14 |
Total deposits |  | $ | 2,969,947 |  |  | $ | 2,854,096 |  |  |  | 3.45 |  |  | $ | 2,796,779 |  |  | $ | 2,444,438 |  |  |  | 2.92 |
A summary of annual maturities of core and wholesale certificates of deposit at September 30, 2024 is as follows:
(In Thousands) |  |  |
Maturities during the year ended December 31, |  |  |
2024 |  | $ | 431,326 |
2025 |  |  | 92,189 |
2026 |  |  | 57,587 |
2027 |  |  | 73,517 |
2028 |  |  | 12,821 |
Thereafter |  |  | 7,072 |
|  | $ | 674,512 |
Wholesale deposits include $467.2 million and $120.0 million of wholesale certificates of deposit and non-reciprocal interest-bearing transaction accounts, respectively, at September 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 September 30, 2024, the notional amount of derivatives designated as cash flow hedges totaled $431.3 million with a weighted average remaining maturity of 3.77 years and a weighted average rate of 3.83%. Certificates of deposit and wholesale deposits denominated in amounts greater than $250,000 were $85.9 million at September 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/1943274/2147478353/942-405-50-1 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 + Details
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