Deposits

12 Months Ended

Dec. 31, 2023

Deposits [Abstract]

Deposits [Text Block]

Deposits

Interest expense on deposits is summarized as follows (in thousands):

	Year Ended December 31,
	2023		2022		2021
Transaction deposits	$	540,068	$	108,956	$	21,961
Savings	2,913		489		374
Total time	83,616		12,304		11,149
Total	$	626,597	$	121,749	$	33,484

The aggregate amounts of time deposits in denominations of $250,000 or more at December 31, 2023 and 2022 were $1.1 billion and $470 million, respectively.

Time deposit maturities are as follows: 2024 – $2.4 billion, 2025 – $258 million, 2026 – $120 million, 2027 – $79 million, 2028 – $42 million and $91 million thereafter. 

The aggregate amount of overdrawn customer transaction deposits that have been reclassified as loan balances was $5.7 million at December 31, 2023 and $10 million at December 31, 2022.