Note 9 - Deposits

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Deposit Liabilities Disclosures [Text Block]

9. Deposits

The following table displays deposit balances as of December 31, 2022, and December 31, 2021:

	As of December 31,
	2022		2021
	(In thousands)
Deposits
Non-interest-bearing demand deposits	$	4,168,989	$	4,492,054
Interest bearing demand deposits		2,509,736		2,522,442
Money market deposits		3,812,724		4,611,579
Savings deposits		1,000,460		915,515
Time deposits		7,013,370		5,517,252
Total deposits	$	18,505,279	$	18,058,842

Time deposits outstanding as of December 31, 2022, mature as follows.

	Expected Maturity Date at December 31,
	2023		2024		2025		2026		2027		Thereafter		Total
	(In thousands)
Time deposits	$	6,926,121	$	79,376	$	5,094	$	591	$	2,168	$	20	$	7,013,370

Accrued interest payable on client deposits was $13.2 million, $1.7 million, and $8.5 million as of December 31, 2022, 2021 and 2020, respectively. The following table summarizes the interest expense on deposits by account type for the years ended December 31, 2022, 2021, and 2020:

	Year Ended December 31,
	2022		2021		2020
	(In thousands)
Interest bearing demand	$	8,176	$	2,249	$	2,816
Money market accounts		39,913		18,241		21,574
Saving accounts		853		769		1,006
Time deposits		56,354		40,542		111,629
Total	$	105,296	$	61,801	$	137,025

The aggregate amount of domestic time deposits in denominations that meet or exceed the current FDIC insurance limit of $250 thousand was $4.10 billion and $2.70 billion as of December 31, 2022, and 2021, respectively. Foreign offices’ time deposits of $128.6 million and $156.9 million as of December 31, 2022, and 2021, respectively, were in denominations of greater than $250 thousand.