NOTE 13 – Bank Deposits

Deposits consist of money market and savings accounts, certificates of deposit, and demand deposits. Deposits at December 31, 2011 and 2010 were as follows (in thousands):


	December 31, 2011		December 31, 2010

Money market and savings accounts	$	2,024,568	$	1,590,663
Demand deposits (interest-bearing)		29,509		22,031
Demand deposits (non-interest-bearing)		15,691		8,197
Certificates of deposit		1,970		2,677
	$	2,071,738	$	1,623,568

The weighted average interest rate on deposits was 0.2% at December 31, 2011 and 2010, respectively.

Scheduled maturities of certificates of deposit at December 31, 2011 and 2010 were as follows (in thousands):



	December 31, 2011		December 31, 2010
Certificates of deposit, less than $100:
Within one year	$	794	$	198
One to three years		240		577
Over three years		—		190
	$	1,034	$	965

Certificates of deposit, $100 and greater:
Within one year	$	656	$	692
One to three years		280		1,020
Over three years		—		—
	$	936	$	1,712

	$	1,970	$	2,677

At December 31, 2011 and 2010, the amount of deposits includes related party deposits, primarily brokerage customers' deposits from Stifel Nicolaus of $2.1 billion and $1.6 billion, respectively, and interest-bearing and time deposits of executive officers, directors, and their affiliates of $0.6 million and $0.4 million, respectively. Such deposits were made in the ordinary course of business and were made on substantially the same terms (including interest rates) as those prevailing at the time for comparable transactions with other persons.