Note 10 - Deposits

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Deposit Liabilities Disclosures [Text Block]

(10) Deposits

The composition of deposits follows:

December 31, (in thousands)	2024		2023
Non-interest bearing demand deposits	$	1,456,138	$	1,548,624
Interest bearing deposits:
Interest bearing demand		2,649,142		2,480,357
Savings		419,355		438,834
Money market		1,403,978		1,219,656
Time deposit accounts of $250,000 or more		365,024		279,474
Other time deposits		872,764		703,803
Total time deposits (1)		1,237,788		983,277
Total interest bearing deposits		5,710,263		5,122,124
Total deposits	$	7,166,401	$	6,670,748

(1) Includes $0 and $597 thousand in brokered deposits as of December 31, 2024 and 2023, respectively.

Interest expense related to time deposits in denominations of $250,000 or more was $9.5 million, $5.1 million and $472,000 for the years ended December 31, 2024, 2023 and 2022, respectively.

At December 31, 2024, the scheduled maturities of all time deposits were as follows:

(in thousands)
2025	$	1,056,522
2026		161,012
2027		9,931
2028		5,764
2029		4,559
Total time deposits	$	1,237,788

Deposits of directors and their associates, including deposits of companies for which directors are principal owners, and executive officers totaled $58 million and $61 million at December 31, 2024 and 2023, respectively. Such deposits are made during the ordinary course of business, on substantially the same terms as those for comparable transactions and at interest rates prevailing at the time of the transaction, and do not present other unfavorable terms.

At December 31, 2024 and 2023, Bancorp had $1.5 million and $661,000 of deposit accounts in overdraft status and thus have been reclassified to loans on the accompanying consolidated balance sheets.