Note 9 - Deposits

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Deposits

Note 9. Deposits

The aggregate amount of certificates of deposit, each with a minimum denomination of $250,000, was $511.4 million and $371.7 million as of December 31, 2023 and 2022, respectively.

As of December 31, 2023, the scheduled maturities of certificates of deposit were as follows:

	Amount
	(dollars in thousands)
Year ending December 31:
2024	$	979,282
2025		22,023
2026		3,921
2027		2,291
2028		1,553
Thereafter		612
	$	1,009,682

The Company has public entity interest-bearing demand deposits and certificates of deposit that are collateralized by investment securities with carrying values as follows:

	2023		2022
	(dollars in thousands)
U.S. govt. sponsored agency securities	$	1,805	$	2,081
Residential mortgage-backed and related securities		2,114		1,796
	$	3,919	$	3,877

The Company had a $175.0 million PUD LOC with the FHLB of Des Moines for the purpose of providing additional collateral on public deposits as of December 31, 2023. As of December 31, 2022, the Company had a $188.8 million PUD LOC with the FHLB of Des Moines. There were no amounts outstanding under these letters of credit as of December 31, 2023 or 2022.

Brokered deposits as of December 31, 2023 and 2022 were $285.0 million and $101.1 million, respectively.