Deposits

12 Months Ended

Dec. 31, 2022

Deposits

Deposits

Note 8:     Deposits

Deposits at December 31, 2022 and 2021, are summarized as follows:

	Weighted Average
	Interest Rate	2022		2021
		(In Thousands, Except Interest Rates)
Non-interest-bearing accounts	—	$	1,063,588	$	1,209,822
Interest-bearing checking and savings accounts	0.90% and 0.12%		2,338,535		2,381,210
			3,402,123		3,591,032
Certificate accounts	0% - 0.99%		280,784		825,217
	1% - 1.99%		125,951		73,563
	2% - 2.99%		452,123		55,509
	3% - 3.99%		267,231		6,780
	4% - 4.99%		156,698		—
	5% and above		—		—
			1,282,787		961,069
		$	4,684,910	$	4,552,101

The weighted average interest rate on certificates of deposit was 2.30% and 0.60% at December 31, 2022 and 2021, respectively.

The aggregate amount of certificates of deposit originated by the Bank in denominations greater than $250,000 was approximately $217.4 million and $88.0 million at December 31, 2022 and 2021, respectively. The Bank utilizes brokered deposits as an additional funding source. The aggregate amount of brokered deposits was approximately $411.5 million and $67.4 million at December 31, 2022 and 2021, respectively. The December 31, 2022 brokered deposits total of $411.5 million included $150.0 million of purchased funds through the IntraFi Financial network. These deposits are included above in interest-bearing checking and savings accounts.

At December 31, 2022, scheduled maturities of certificates of deposit were as follows:

	Retail		Brokered		Total
	(In Thousands)
2023	$	958,115	$	112,824	$	1,070,939
2024		42,099		96,961		139,060
2025		13,748		51,706		65,454
2026		2,967		—		2,967
2027		3,532		—		3,532
Thereafter		835		—		835
	$	1,021,296	$	261,491	$	1,282,787

A summary of interest expense on deposits for the years ended December 31, 2022, 2021 and 2020, is as follows:

	2022		2021		2020
	(In Thousands)
Checking and savings accounts	$	6,938	$	4,023	$	7,096
Certificate accounts		13,980		9,139		25,453
Early withdrawal penalties		(242)		(60)		(118)
	$	20,676	$	13,102	$	32,431