DEPOSITS

12 Months Ended

Dec. 31, 2023

DEPOSITS

DEPOSITS

NOTE 10: DEPOSITS

The following table summarizes the outstanding balance of deposits and average rates paid thereon as of:

	2023				2022
			Weighted				Weighted
(dollars in thousands)	Amount		Average Rate		Amount		Average Rate
Demand deposits:
Noninterest-bearing	$	1,467,806	—		$	2,736,691	—
Interest-bearing		2,881,786	2.94	%		2,568,850	2.91	%
Money market and savings		3,195,670	3.81	%		3,178,230	2.37	%
Certificates of deposit		3,143,670	4.87	%		1,878,841	3.74	%
Total	$	10,688,932	3.36	%	$	10,362,612	2.13	%

At December 31, 2023, of the $455 million of certificates of deposits of $250,000 or more, $424 million mature within one year and $31 million mature after one year. Of the $2.7 billion of certificates of deposit of less than $250,000, $1.2 billion mature within one year and $1.5 billion mature after one year. At December 31, 2022, of the $436 million of certificates of deposits of $250,000 or more, $409 million mature within one year and $27 million mature after one year. Of the $1.4 billion of certificates of deposit of less than $250,000, $1.1 billion mature within one year and $345 million mature after one year.

Large depositor relationships, consisting of deposit relationships which exceed 2% of total deposits, accounted for, in the aggregate, 12.5% and 19.8% of our total deposits as of December 31, 2023 and 2022, respectively.  The composition of our large depositor relationships continues to include clients which have maintained long-term depository relationships with us and has not changed materially from a quantitative perspective since December 31, 2022.

Accrued interest payable on deposits, which is included in accounts payable and other liabilities, was $36.7 million and $7.5 million at December 31, 2023 and 2022, respectively.