DEPOSITS

9 Months Ended

Sep. 30, 2023

DEPOSITS

DEPOSITS

NOTE 10: DEPOSITS

	September 30,		December 31,
	2023		2022
	(In Thousands)
Time Deposits:
0.00% - 0.99%	$	112,109	$	280,784
1.00% - 1.99%		26,604		125,951
2.00% - 2.99%		48,463		381,547
3.00% - 3.99%		176,880		228,131
4.00% - 4.99%		624,054		4,883
5.00% and above		8,270		—
Total time deposits (weighted average rate 3.53% and 1.93%)		996,380		1,021,296
Non-interest-bearing demand deposits		942,177		1,063,588
Interest-bearing demand and savings deposits (weighted average rate 1.54% and 0.65%)		2,243,684		2,188,535
Brokered deposits (weighted average rate 5.06% and 4.03%)		669,307		411,491
Total Deposits	$	4,851,548	$	4,684,910

The Bank utilizes brokered deposits as an additional funding source. The aggregate amount of brokered deposits was approximately $669.3 million and $411.5 million at September 30, 2023 and December 31, 2022, respectively. At September 30, 2023 and December 31, 2022, brokered deposits included $300.0 million and $150.0 million, respectively, of purchased funds through the IntraFi Financial network. These IntraFi Financial deposits have a rate of interest that floats daily with an index of effective federal funds rate plus a spread. At September 30, 2023, there were additional brokered deposits totaling $133.4 million that had variable rates of interest that reset monthly or quarterly and there were other brokered deposits totaling $185.5 million that had fixed rates of interest but are callable at the Bank’s discretion. At September 30, 2023, approximately 35% of the Company’s total deposits were uninsured, when including deposit accounts of consolidated subsidiaries of the Company and collateralized deposits of unaffiliated entities. Excluding deposit accounts of the Company’s consolidated subsidiaries, approximately 16% of the Company’s total deposits were uninsured at September 30, 2023.