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Deposits (Tables)
12 Months Ended
Dec. 31, 2023
Deposits [Abstract]  
Schedule of Deposits

The following is a summary of the Company’s deposits as of December 31, 2023 and 2022:

 

 

December 31,

 

 

December 31,

 

 

 

2023

 

 

2022

 

Non-interest-bearing demand deposits

 

$

1,905,876

 

 

$

2,138,645

 

Interest-bearing checking accounts

 

 

577,609

 

 

 

592,098

 

Money market demand accounts

 

 

2,266,030

 

 

 

1,415,653

 

Other savings

 

 

542,532

 

 

 

625,798

 

Time deposits (below $250,000)

 

 

1,520,082

 

 

 

762,250

 

Time deposits ($250,000 and above)

 

 

364,870

 

 

 

160,677

 

Total deposits

 

$

7,176,999

 

 

$

5,695,121

 

Schedule of Maturities of Time Deposits

At December 31, 2023, the scheduled maturities of time deposits were as follows:

 

 

Scheduled Maturities

 

2024

 

$

1,831,528

 

2025

 

 

39,153

 

2026

 

 

8,521

 

2027

 

 

4,639

 

2028

 

 

1,111

 

Total

 

$

1,884,952

 

 

The Company hedges interest rates on certain money market accounts using interest rate swaps through which the Company receives variable amounts and pays fixed amounts. Refer to Note 21—Derivative Instruments and Hedging Activities for additional discussion.