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Deposits
9 Months Ended
Sep. 30, 2025
Insurance [Abstract]  
Deposits Deposits
The Bank held no deposits classified as brokered as of September 30, 2025 and December 31, 2024. To achieve full insurance from the FDIC, some of the Bank’s depositors have enrolled in the ICS® program offered by the Bank through the IntraFi® network. When accounts are enrolled in this service, the Bank must elect, for each account, whether it will receive a reciprocal deposit balance or sell the deposit balance. Reciprocal deposits through ICS® held on the consolidated balance sheets were $228.2 million and $130.3 million as of September 30, 2025 and December 31, 2024, respectively. Total ICS® One-Way Sell® deposits of $146.4 million and $63.3 million as of September 30, 2025, and December 31, 2024, respectively, were sold to the network and excluded from the Company’s consolidated balance sheets. The Bank receives fee income for deposits that are sold, which is reported under deposit placement services income on the consolidated statements of income.
As of September 30, 2025, there were three clients with an individual deposit balance exceeding 5.0% of total deposits. The total deposit balance related to these clients was $229.9 million or 16.8% of total deposits. As of December 31, 2024, there were two clients whose individual deposit balances exceeded 5.0% of total deposits. The total deposit balance related to these clients was $202.6 million or 16.2% of total deposits.