Deposits

The following table summarizes total deposits at March 31, 2015 and December 31, 2014.



	March 31,		December 31,
	2015		2014
Deposits - interest bearing	$	10,466,838	$	10,539,953
Deposits - non-interest bearing	915		602
Total deposits	$	10,467,753	$	10,540,555

Interest Bearing

Interest bearing deposits as of March 31, 2015 and December 31, 2014 consisted of non-maturity savings and money market deposits, brokered and retail certificates of deposit, and brokered money market deposits. These deposit products are serviced by third party providers. Placement fees associated with the brokered certificates of deposit are amortized into interest expense using the effective interest rate method. We recognized placement fee expense of $2,695 and $2,750 for the three months ended March 31, 2015 and 2014, respectively. No fees were paid to third party brokers related to these certificates of deposit during the three months ended March 31, 2015 and 2014, respectively.

Interest bearing deposits at March 31, 2015 and December 31, 2014 are summarized as follows:



	March 31, 2015				December 31, 2014
	Amount		Qtr.-End Weighted Average Stated Rate		Amount		Year-End Weighted Average Stated Rate

Money market	$	4,512,730	1.14	%	$	4,527,448	1.15	%
Savings	695,675		0.81		703,687		0.81
Certificates of deposit	5,258,433		1.02		5,308,818		1.00
Deposits - interest bearing	$	10,466,838			$	10,539,953

As of March 31, 2015 and December 31, 2014, there were $224,182 and $253,953, respectively, of deposits exceeding Federal Deposit Insurance Corporation (“FDIC”) insurance limits. Accrued interest on deposits was $22,624 and $16,082 at March 31, 2015 and December 31, 2014, respectively.

Non Interest Bearing

Non interest bearing deposits were $915 and $602 as of March 31, 2015 and December 31, 2014, respectively. For both periods these were comprised of money market accounts related to our Employee Stock Purchase Plan account.