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Bank Deposits
3 Months Ended
Mar. 31, 2017
Deposits Liabilities Balance Sheet Reported Amounts [Abstract]  
Bank Deposits

NOTE 11 – Bank Deposits

Deposits consist of money market and savings accounts, certificates of deposit, and demand deposits. Deposits at March 31, 2017 and December 31, 2016 were as follows (in thousands):

 

 

 

March, 31, 2017

 

 

December 31, 2016

 

Money market and savings accounts

 

$

11,545,456

 

 

$

11,264,285

 

Demand deposits (interest-bearing)

 

 

144,100

 

 

 

253,545

 

Demand deposits (non-interest-bearing)

 

 

7,938

 

 

 

5,752

 

Certificates of deposit

 

 

3,467

 

 

 

3,901

 

 

 

$

11,700,961

 

 

$

11,527,483

 

 

The weighted-average interest rate on deposits was 0.06% and 0.09% at March 31, 2017 and December 31, 2016, respectively.

 

At March 31, 2017 and December 31, 2016, the amount of deposits includes related party deposits, primarily brokerage customers’ deposits from Stifel of $11.7 billion and $11.5 billion, respectively, and interest-bearing and time deposits of executive officers, directors, and their affiliates of $0.4 million and $0.5 million, respectively.