Note 11 - Deposits

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Deposit Liabilities Disclosures [Text Block]

(11) Deposits

The composition of deposits follows:

December 31, (in thousands)	2023		2022
Non-interest bearing demand deposits	$	1,548,624	$	1,950,198
Interest bearing deposits:
Interest bearing demand		2,480,357		2,308,960
Savings		438,834		535,903
Money market		1,219,656		1,124,100
Time deposit accounts of $250,000 or more		279,474		97,638
Other time deposits		703,803		374,453
Total time deposits(1)		983,277		472,091
Total interest bearing deposits		5,122,124		4,441,054
Total deposits	$	6,670,748	$	6,391,252

(1) Includes $597,000 and $599,000 in brokered deposits as of December 31, 2023 and 2022, respectively.

Interest expense related to time deposits in denominations of $250,000 or more was $5.1 million, $472,000 and $464,000 for the years ended December 31, 2023, 2022 and 2021, respectively.

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

(in thousands)
2024	$	862,913
2025		98,703
2026		9,320
2027		7,838
2028		4,503
Total time deposits	$	983,277

Deposits of directors and their associates, including deposits of companies for which directors are principal owners, and executive officers were $61 million and $59 million at December 31, 2023 and 2022, respectively.

At December 31, 2023 and 2022, Bancorp had $661,000 and $913,000 of deposits accounts in overdraft status and thus have been reclassified to loans on the accompanying consolidated balance sheets.