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Deposits | 9 Months Ended
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Sep. 30, 2024
Deposits [Abstract] |
Deposits | 5. Deposits Depositor account balances as of September 30, 2024 and December 31, 2023 are summarized as follows:
|  | September 30, 2024 |  |  | December 31, 2023 |
Negotiable order of withdrawal (NOW) |  | $ | 492,103 |  |  | $ | 268,379 |
Savings accounts |  |  | 118,980 |  |  |  | 127,213 |
Money market |  |  | 103,477 |  |  |  | 108,778 |
|  |  | 714,560 |  |  |  | 504,370 |
Certificates of deposit |  |  | 197,450 |  |  |  | 174,362 |
Wholesale and brokered certificates of deposit |  |  | 94,026 |  |  |  | 90,556 |
|  | $ | 1,006,036 |  |  | $ | 769,288 |
The weighted average interest rate on depositor accounts as of September 30, 2024 and December 31, 2023 wa s 1.16% and 1.23%, respectively. Included in NOW account balances as of September 30, 2024 was approximately $254 million in tentative proceeds from the Bank's upcoming stock conversion. Included in deposits are certificates of deposit in amounts greater than $250,000 totaling $43 million of account balance and approximately $1.8 million in annual interest expenses for September 30, 2024 and $23 million of account balance and approximately $891 thousand in annual interest expense for December 31, 2023. The scheduled maturities of all certificates of deposit at September 30, 2024 were as follows:
2024 |  | $ | 78,420 |
2025 |  |  | 164,896 |
2026 |  |  | 24,584 |
2027 |  |  | 16,524 |
2028 |  |  | 2,274 |
2029 |  |  | 4,778 |
Total |  | $ | 291,476 |

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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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