DEPOSITS

12 Months Ended

Dec. 31, 2023

DEPOSITS

DEPOSITS

9. DEPOSITS

A summary of deposit balances, by type, is as follows:

	December 31,		December 31,
	2023		2022
	(in thousands)
NOW and demand deposit accounts	$	965,798	$	1,060,268
Regular savings and club accounts		1,265,315		1,468,172
Money market deposit accounts		966,201		861,704
Total non-certificate accounts		3,197,314		3,390,144
Term certificate accounts greater than $250,000		240,702		110,360
Term certificate accounts less than or equal to $250,000		622,755		387,615
Brokered deposits		326,638		301,380
Total certificate accounts		1,190,095		799,355
Total deposits	$	4,387,409	$	4,189,499

Total municipal deposits included in the table amounted to $471.8 million and $413.5 million at December 31, 2023 and 2022, respectively. Municipal deposits are generally required to be fully insured. The Company provided supplemental insurance for municipal

deposits through DIF, a reciprocal deposit program, or letters of credit offered by the FHLB. DIF was exited February 24, 2023 and will generally provide coverage until February 24, 2024 on deposits that existed at the exit date. The Company has established a relationship to participate in a reciprocal deposit program with other financial institutions. The reciprocal deposit program provides access to FDIC-insured deposit products in aggregate amounts exceeding the current limits for depositors. At December 31, 2023 and 2022, total reciprocal deposits were $209.4 million and $28.6 million, respectively, consisting primarily of non-certificate accounts.

A summary of certificate accounts by maturity at December 31, 2023 is as follows:

			Weighted
			Average
	Amount		Rate
	(dollars in thousands)
Within 1 year	$	1,100,893	4.41	%
Over 1 year to 2 years		63,108	3.88
Over 2 years to 3 years		23,899	3.40
Over 3 years to 4 years		1,881	1.50
Over 4 years to 5 years		314	0.80
Total certificate deposits	$	1,190,095	4.36	%