DEPOSITS

3 Months Ended

Mar. 31, 2024

DEPOSITS

DEPOSITS

7. DEPOSITS

A summary of deposit balances, by type, is as follows:

	March 31,		December 31,
	2024		2023
	(in thousands)
NOW and demand deposit accounts	$	982,223	$	965,798
Regular savings and club accounts		1,110,404		1,265,315
Money market deposit accounts		1,061,145		966,201
Total non-certificate accounts		3,153,772		3,197,314
Term certificate accounts greater than $250,000		219,050		240,702
Term certificate accounts less than or equal to $250,000		633,276		622,755
Brokered deposits		387,926		326,638
Total certificate accounts		1,240,252		1,190,095
Total deposits	$	4,394,024	$	4,387,409

Total municipal deposits included in the table amounted to $487.0 million at March 31, 2024 and $471.8 million at December 31, 2023. Municipal deposits are generally required to be fully insured. The Company provided supplemental insurance for municipal deposits through a reciprocal deposit program and letters of credit offered by the FHLB. DIF was exited February 24, 2023 and generally provided coverage until February 24, 2024 on deposits that existed at the exit date. The Company has established a relationship to participate in a reciprocal deposit program with other financial institutions. The reciprocal deposit program provides access to FDIC-insured deposit products in aggregate amounts exceeding the current limits for depositors. At March 31, 2024 and December 31, 2023, total reciprocal deposits were $394.9 million and $209.4 million, respectively, consisting of non-certificate accounts.

A summary of certificate accounts by maturity at March 31, 2024 is as follows:

			Weighted
			Average
	Amount		Rate
	(dollars in thousands)
Within 1 year	$	1,157,083	4.46	%
Over 1 year to 2 years		44,999	3.30
Over 2 years to 3 years		36,870	3.96
Over 3 years to 4 years		1,045	1.75
Over 4 years to 5 years		255	0.52
Total certificate deposits	$	1,240,252	4.40	%