Bank Deposits

9 Months Ended

Sep. 30, 2021

Deposits Liabilities Balance Sheet Reported Amounts [Abstract]

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 September 30, 2021 and December 31, 2020 were as follows (in thousands):

	September 30, 2021		December 31, 2020
Demand deposits (interest-bearing)	$	19,729,032	$	16,886,953
Demand deposits (non-interest-bearing)		635,059		411,890
Certificates of deposit		34,783		97,654
	$	20,398,874	$	17,396,497

The weighted-average interest rate on deposits was 0.03% and 0.09% at September 30, 2021 and December 31, 2020, respectively.

Scheduled maturities of certificates of deposit at September 30, 2021 and December 31, 2020 were as follows (in thousands):

	September 30, 2021		December 31, 2020
Certificates of deposit, less than $100,000:
Within one year	$	250	$	2,719
One to three years		13		409
Three to five years		—		254
	$	263	$	3,382
Certificates of deposit, $100,000 and greater:
Within one year	$	24,495	$	63,650
One to three years		10,025		30,622
Three to five years		—		—
		34,520		94,272
	$	34,783	$	97,654

At September 30, 2021 and December 31, 2020, the amount of deposits includes related party deposits, primarily interest-bearing and time deposits of executive officers, directors, and their affiliates of $9.9 million and $6.7 million, respectively. Brokerage customers’ deposits were $18.6 billion and $16.0 billion, respectively.