DEPOSITS

12 Months Ended

Dec. 31, 2021

DEPOSITS

DEPOSITS

11. DEPOSITS

Deposits are summarized as follows:

	December 31, 2021				December 31, 2020
	Weighted				Weighted
	Average				Average
(Dollars in thousands)	Rate		Liability		Rate		Liability
Savings	0.03	%	$	1,158,040	0.12	%	$	414,809
Certificates of deposit ("CDs")	0.58			853,242	0.84			1,322,638
Money market	0.07			3,621,552	0.24			1,716,624
Interest-bearing checking	0.18			905,717	0.10			290,300
Non-interest-bearing checking	—			3,920,423	—			780,751
Total	0.09	%	$	10,458,974	0.36	%	$	4,525,122

As a result of the Merger, the Company acquired $5.41 billion of deposits on the Merger Date.

The following table presents a summary of scheduled maturities of CDs outstanding at December 31, 2021:

	Maturing		Weighted Average
(Dollars in thousands)	Balance		Interest Rate
2022	$	701,259	0.51	%
2023		98,015	0.87
2024		27,402	1.20
2025		15,078	1.12
2026		9,110	0.52
2027 and beyond		2,378	0.67
Total	$	853,242	0.58	%

CDs that met or exceeded the Federal Deposit Insurance Corporation (“FDIC”) insurance limit of $250 thousand were $200.1 million and $279.0 million December 31, 2021 and 2020, respectively.