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Deposits

12 Months Ended

Dec. 31, 2024

Deposits [Abstract]

Deposits

NOTE 7 – Deposits

The following is a detail of the deposit accounts:

Schedule of detail of deposit accounts
		December 31,
(dollars in thousands)		2024				2023
Noninterest bearing		$	683,081				674,167
Interest bearing:
NOW accounts			314,588				310,218
Money market accounts			1,438,530				1,605,278
Savings			31,976				31,669
Time deposits			967,590				758,232
Total deposits		$	3,435,765				3,379,564

At December 31, 2024 and 2023, time deposits greater than $250,000 were $774.0 million and $568.1 million, respectively.

Also, at December 31, 2024, the Company had $550.3 million deposits in brokered deposits, or deposits that were obtained outside the Company’s primary market, while at December 31, 2023 the Company had $379.4 million in brokered deposits. Interest expense on time deposits greater than $250,000 was $34.8 million for the year ended December 31, 2024, $22.5 million for the year ended December 31, 2023, and $3.2 million for the year ended December 31, 2022.

At December 31, 2024 the scheduled maturities of time deposits are as follows:

Schedule of maturities of time deposits
(dollars in thousands)
2025			$	741,679
2026				113,327
2027				29,416
2028				81,005
2029				2,163
Total time deposits			$	967,590

X

- 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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X

- References

No definition available.

+ Details

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