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Deposits | 12 Months Ended
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Dec. 31, 2024
Banking and Thrift, Other Disclosure [Abstract] |
Deposits | DEPOSITS Interest-bearing deposits consisted of the following (in thousands):
|  | December 31,
|  | 2024 |  | 2023
Savings |  | $ | 172,976 |  |  | $ | 179,609 |
Money market |  | 843,145 |  |  | 497,043 |
NOW accounts |  | 470,548 |  |  | 251,334 |
Time, $250,000 or more |  | 53,364 |  |  | 24,257 |
Time, under $250,000 |  | 389,920 |  |  | 137,828 |
|  | $ | 1,929,953 |  |  | $ | 1,090,071 |
Aggregate annual maturities of time deposits are as follows (in thousands):
Years Ending December 31, |  |
2025 |  | $ | 337,783 |
2026 |  | 85,957 |
2027 |  | 14,867 |
2028 |  | 4,028 |
2029 |  | 649 |
Thereafter |  | — |
|  | $ | 443,284 |
Interest expense recognized on interest-bearing deposits consisted of the following (in thousands):
|  | Years Ended December 31,
|  | 2024 |  | 2023 |  | 2022
Savings |  | $ | 603 |  |  | $ | 245 |  |  | $ | 25 |
Money market |  | 20,284 |  |  | 8,910 |  |  | 848 |
NOW accounts |  | 861 |  |  | 366 |  |  | 207 |
Time certificates of deposit |  | 18,918 |  |  | 6,006 |  |  | 117 |
|  | $ | 40,666 |  |  | $ | 15,527 |  |  | $ | 1,197 |
As of December 31, 2024 and December 31, 2023, uninsured deposits totaled $1,029,929,000 and $821,756,000, 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/1943274/2147478353/942-405-50-1 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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