DEPOSITS

3 Months Ended

Mar. 31, 2023

DEPOSITS [Abstract]

DEPOSITS

NOTE 8 – DEPOSITS

The following table summarizes deposit balances as of the indicated dates:

March 31, 2023

December 31, 2022

(In thousands)

Type of account and interest rate:

Non-interest-bearing deposit accounts

$

6,024,304

$

6,112,884

Interest-bearing saving accounts

3,808,182

3,902,888

Interest-bearing checking accounts

3,547,963

3,770,993

Certificates of deposit (“CDs”)

2,418,611

2,250,876

Brokered CDs

252,905

105,826

 Total

$

16,051,965

$

16,143,467

The following table presents the contractual maturities of CDs, including brokered CDs, as of March 31, 2023:

Total 

(In thousands)

Three months or less

$

499,307

Over three months to six months

361,274

Over six months to one year

732,933

Over one year to two years 

751,913

Over two years to three years 

155,590

Over three years to four years 

46,748

Over four years to five years 

117,009

Over five years

6,742

 Total

$

2,671,516

The following were the components of interest expense on deposits for the indicated periods:

Quarter Ended March 31,

2023

2022

(In thousands)

Interest expense on deposits

$

29,924

$

7,817

Accretion of premiums from acquisitions

(83)

(200)

Amortization of broker placement fees

44

35

 Total

$

29,885

$

7,652

Total U.S. time deposits with balances of more than $250,000 amounted to $

1.1

 billion and $

1.0

 billion as of March 31, 2023 and

December 31, 2022, respectively. This amount does not include brokered CDs that are generally participated out by brokers in shares

of less than the FDIC insurance limit. As of March 31, 2023 and December 31, 2022, unamortized broker placement fees amounted to

$

0.4

 million and $

0.3

 million, respectively, which are amortized over the contractual maturity of the brokered CDs under the interest

method.