DEPOSITS

12 Months Ended

Dec. 31, 2023

Deposits [Abstract]

DEPOSITS

DEPOSITS 

The following is a summary of the scheduled maturities of time deposits at December 31:

	2023				2022
	(Dollars in thousands)
1 year or less	$	2,056,543	94.3	%	$	953,214	79.7	%
Over 1 year to 2 years	97,055		4.4	%	150,102		12.5	%
Over 2 years to 3 years	15,594		0.7	%	66,995		5.6	%
Over 3 years to 4 years	8,585		0.4	%	15,172		1.3	%
Over 4 years to 5 years	3,702		0.2	%	10,258		0.9	%
Total (1)	$	2,181,479	100.0	%	$	1,195,741	100.0	%

(1)The total amount of time deposit accounts with balances equal to or greater than $250,000 at December 31, 2023 and 2022 was $571.2 million and $251.1 million, respectively. 

The Company had pledged assets as collateral covering certain deposits in the amount of $900.2 million and $952.7 million at December 31, 2023 and 2022, respectively.

The Bank's deposit accounts are insured to the maximum extent permitted by law by the Deposit Insurance Fund which is administered by the FDIC. The FDIC offers insurance coverage on deposits up to the federally insured limit of $250,000.