Deposits

12 Months Ended

Dec. 31, 2022

Statistical Disclosure for Banks [Abstract]

Deposits

DEPOSITS

The composition of the deposit portfolio is included in the table below for the years indicated:

	December 31, 2022		December 31, 2021
Demand deposits	$	8,448,797	$	7,704,190
Savings deposits	4,657,140		4,334,802
Certificates and other time deposits of $100,000 or more	742,539		273,379
Other certificates and time deposits	468,712		389,752
Brokered deposits	65,557		30,454
Total deposits	$	14,382,745	$	12,732,577

Deposits increased $1.7 billion from December 31, 2021. The Level One acquisition contributed $1.9 billion of deposits as of the acquisition date, resulting in an organic deposit decline of $280.6 million, or 2.2 percent. Details regarding the acquisition are discussed in NOTE 2. ACQUISITIONS of these Notes to Consolidated Financial Statements. The majority of the organic deposit decline was due to decreases in non-maturity deposits of $513.5 million, which was offset by increases in maturity deposits of $232.9 million when compared to December 31, 2021. Higher interest rates have resulted in customers migrating funds from non-maturity products into maturity time deposit products. At December 31, 2022 and 2021, deposits exceeding the FDIC's Standard Maximum Deposit Insurance Amount of $250,000 were $8.1 billion and $7.6 billion, respectively.

At December 31, 2022, the contractual maturities of time deposits are summarized as follows:

	Certificates and Other Time Deposits
2023	$	1,148,819
2024	96,897
2025	14,661
2026	9,819
2027	6,043
After 2027	569
	$	1,276,808