Bank Deposits

12 Months Ended

Dec. 31, 2019

Deposits Liabilities Balance Sheet Reported Amounts [Abstract]

Bank Deposits

NOTE 13 – Bank Deposits

Deposits consist of money market and savings accounts, certificates of deposit, and demand deposits. Deposits at December 31, 2019 and 2018, were as follows (in thousands):

	December 31,
	2019		2018
Money market and savings accounts	$	13,530,670	$	13,609,612
Demand deposits (interest-bearing)		1,113,296		392,765
Certificates of deposit		522,958		1,763,336
Demand deposits (non-interest-bearing)		165,657		97,900
	$	15,332,581	$	15,863,613

The weighted-average interest rate on deposits was 0.64% and 0.60% at December 31, 2019 and 2018, respectively.

Scheduled maturities of certificates of deposit at December 31, 2019 and 2018, were as follows (in thousands):

	December 31,
	2019		2018
Certificates of deposit, less than $100,000:
Within one year	$	5,305	$	4,858
One to three years		360		623
Three to five years		13		140
	$	5,678	$	5,621
Certificates of deposit, $100,000 and greater:
Within one year	$	441,341	$	1,535,784
One to three years		68,855		195,159
Three to five years		7,084		26,772
		517,280		1,757,715
	$	522,958	$	1,763,336

At December 31, 2019 and 2018, the amount of deposits includes related party deposits, primarily interest-bearing and time deposits of $6.7 million and $6.5 million, respectively. Brokerage customers’ deposits were $13.9 billion and $15.2 billion, respectively.