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Deposits | 12 Months Ended
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Dec. 31, 2023
Deposits [Abstract] |
Deposits | Note 8 – Deposits The distribution of deposits at December 31, 2023 and 2022 were as follows:
|  | December 31,
|  |  | 2023 |  |  | 2022
|  | (In Thousands)
Demand: |  |  |  |  |  |
Non-interest bearing |  | $ | 536,264 |  | $ | 613,910
Interest bearing |  |  | 564,912 |  |  | 757,615
Money market |  |  | 370,934 |  |  | 305,556
|  |  | 1,472,110 |  |  | 1,677,081
Savings and club |  |  | 284,273 |  |  | 329,752
Certificates of deposit |  |  | 1,222,697 |  |  | 804,774
|  | $ | 2,979,080 |  | $ | 2,811,607
Deposits of certain municipalities and local government agencies are collateralized by $34.6 million of investment securities and by a $270.0 million Municipal Letter of Credit with the FHLB. At December 31, 2023 and 2022, certificates of deposit of $250,000 or more totaled approximately $341.9 million and $207.7 million, respectively. At December 31, 2023, deposits from officers, directors and their associates totaled approximately $87.3 million. The scheduled maturities of certificates of deposit at December 31, 2023, were as follows (In thousands):
|  | Amount
2024 | $ | 1,199,120
2025 |  | 17,134
2026 |  | 3,569
2027 |  | 1,785
Thereafter |  | 1,089
| $ | 1,222,697
As of December 31, 2023, the Company had $505.4 million in brokered certificate deposits. As of December 31, 2022, the Company had $335.0 million in brokered certificate deposits and $35.0 million in brokered demand deposits. The Company had no brokered demand deposits at December 31, 2023. Reciprocal deposits are not considered brokered deposits under applicable regulations.

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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//1943274/2147481047/942-405-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Paragraph (e) -Publisher SEC Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Publisher SEC Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.12) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1 + Details
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