Interest-Bearing Deposits (Tables)

12 Months Ended

Dec. 31, 2023

Interest-bearing deposits consisted of the following as of December 31, 2023 and 2022:


(in thousands)	2023		2022
Interest-bearing transaction accounts	$	320,356	$	240,131
Savings accounts	126,498		154,581
Money market accounts	1,282,369		1,073,532
Time accounts, $250 or more	344,694		198,159
Other time accounts	121,878		144,355
Total time deposits	466,572		342,514
Total interest-bearing deposits	$	2,195,795	$	1,810,758

As of December 31, 2023, scheduled maturities of time deposits for the next five years were as follows:

The composition of network deposits as of December 31, 2023 and 2022 was as follows:

Interest expense recognized on interest-bearing deposits for the years ended December 31, 2023 and 2022 consisted of the following:


(in thousands)	2023		2022
Interest-bearing transaction accounts	$	3,321	$	425
Savings accounts	3,073		376
Money market accounts	33,932		6,477
Time accounts, $250 or more	12,686		2,804
Other time accounts	4,849		841
Total interest expense on interest-bearing deposits	$	57,861	$	10,923