NOTE 14 – Bank Deposits

Deposits consist of money market and savings accounts, certificates of deposit, and demand deposits. Deposits at September 30, 2013 and December 31, 2012 were as follows (in thousands):



	September 30, 2013		December 31, 2012
Money market and savings accounts	$	4,151,990	$	3,271,929
Demand deposits (interest-bearing)		69,956		64,926
Demand deposits (non-interest-bearing)		5,819		8,648
Certificates of deposit		640		630
	$	4,228,405	$	3,346,133

The weighted average interest rate on deposits was 0.06% and 0.13% at September 30, 2013 and December 31, 2012, respectively.

Scheduled maturities of certificates of deposit at September 30, 2013 and December 31, 2012 were as follows (in thousands):


	September 30, 2013		December 31, 2012
Certificates of deposit, less than $100:
Within one year	$	111	$	182
One to three years		192		203
Over three years		88		-
	$	391	$	385

Certificates of deposit, $100 and greater:
Within one year	$	249	$	245
One to three years		-		-
Over three years		-		-
	$	249	$	245
	$	640	$	630

At September 30, 2013 and December 31, 2012, the amount of deposits includes related party deposits, primarily brokerage customers’ deposits from Stifel Nicolaus of $4.2 billion and $3.3 billion, respectively, and interest-bearing and time deposits of executive officers, directors, and their affiliates of $0.2 million and $0.2 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.