Bank Deposits

3 Months Ended

Mar. 31, 2022

Deposits Liabilities Balance Sheet Reported Amounts [Abstract]

Bank Deposits

NOTE 11 – Bank Deposits

Deposits consist of interest-bearing demand deposits (primarily money market and savings accounts), non-interest bearing demand deposits, and certificates of deposit. Deposits at March 31, 2022 and December 31, 2021 were as follows (in thousands):

	March 31, 2022		December 31, 2021
Demand deposits (interest-bearing)	$	23,553,384	$	22,626,560
Demand deposits (non-interest-bearing)		618,435		626,633
Certificates of deposit		23,807		27,155
	$	24,195,626	$	23,280,348

The weighted-average interest rate on deposits was 0.02% and 0.02% at March 31, 2022 and December 31, 2021, respectively.

Scheduled maturities of certificates of deposit at March 31, 2022 and December 31, 2021 were as follows (in thousands):

	March 31, 2022		December 31, 2021
Certificates of deposit, less than $100,000:
Within one year	$	146	$	159
One to three years		14		14
Three to five years		—		—
	$	160	$	173
Certificates of deposit, $100,000 and greater:
Within one year	$	16,763	$	20,098
One to three years		6,884		6,884
Three to five years		—		—
		23,647		26,982
	$	23,807	$	27,155

At March 31, 2022 and December 31, 2021, the amount of deposits includes related party deposits, primarily interest-bearing and time deposits of executive officers, directors, and their affiliates of $3.6 million and $8.6 million, respectively. Brokerage customers’ deposits were $22.2 billion and $21.3 billion, respectively.