Interest-Bearing Deposits

12 Months Ended

Dec. 31, 2025

Deposits [Abstract]

Interest-Bearing Deposits

Interest-Bearing Deposits

Components of interest-bearing deposits at December 31 were as follows:

	2025		2024
	(dollars in thousands)
Interest-bearing demand deposits	$	1,795,513	$	688,596
Savings deposits	4,241,762		4,989,342
Time deposits	1,840,923		1,750,466
Total interest-bearing deposits	$	7,878,198	$	7,428,404

As of December 31, 2025 interest-bearing deposits increased $0.4 billion compared to December 31, 2024. Deposits totaling $0.8 million and $0.9 million at December 31, 2025 and 2024, respectively, were reclassified from deposits to loans due to their overdrawn status.

The change in interest-bearing demand deposits and savings deposits for December 31, 2025 compared to December 24, 2024 is largely due to the termination in 2025 of an internal sweep program that has historically been in place for regulatory reserve requirements. As a result, there is inconsistency in the totals for some deposit categories in the above table, as category totals for 2024 include the impact of the sweeps, while category totals in 2025 do not. The impact of the sweep program in place at December 31, 2024 is provided in the table below.

	2024		Impact of Sweep		Without Sweep 2024
	(dollars in thousands)
Interest-bearing demand deposits	688,596		$	1,167,037	$	1,855,633
Savings deposits	4,989,342		(1,167,037)		3,822,305
Time deposits	1,750,466		—		1,750,466
Total interest-bearing deposits	$	7,428,404	$	—	$	7,428,404

Included in time deposits at December 31, 2025 and 2024 were certificates of deposit in denominations of $250 thousand or more of $432.4 million and $459.9 million, respectively.

Interest expense related to certificates of deposit in denominations of $250 thousand or greater amounted to $16.5 million in 2025, $16.6 million in 2024 and $8.1 million in 2023.

Included in time deposits at December 31, 2025 were certificates of deposit with the following scheduled maturities (dollars in thousands):

2026	$	1,767,811
2027	37,283
2028	22,314
2029	7,450
2030 and thereafter	6,065
Total	$	1,840,923