Deposits

3 Months Ended

Mar. 31, 2024

A summary of the balances of deposits follows:


(in thousands)	March 31, 2024		December 31, 2023
Noninterest-bearing demand	$	2,600,448	$	2,722,689
Interest-bearing demand	1,742,875		1,731,814
Savings	2,672,537		2,682,068
Time certificates, $250,000 or more	375,222		250,180
Other time certificates	596,576		447,287
Total deposits	$	7,987,658	$	7,834,038

Certificate of deposit balances of $100.0 million and $50.0 million from the State of California were included in time certificates, over $250,000, at March 31, 2024 and December 31, 2023, respectively. The Company participates in a deposit program offered by the State of California whereby the State may make deposits at the Company’s request subject to collateral and credit worthiness constraints. The negotiated rates on these State deposits are generally more favorable than other wholesale funding sources available to the Company.

Overdrawn deposit balances of $1.7 million and $1.8 million were classified as consumer loans at March 31, 2024 and December 31, 2023, respectively.