Deposits

The following table summarizes total deposits at June 30, 2018 and December 31, 2017.



	June 30,		December 31,
	2018		2017
Deposits - interest bearing	$	16,743,885	$	15,504,330
Deposits - non-interest bearing	2,072		1,053
Total deposits	$	16,745,957	$	15,505,383

Our total deposits of $16.7 billion were comprised of $8.7 billion in brokered deposits and $8.0 billion in retail and other deposits at June 30, 2018, compared to total deposits of $15.5 billion, which were comprised of $8.2 billion in brokered deposits and $7.3 billion in retail and other deposits, at December 31, 2017.

Interest bearing deposits as of June 30, 2018 and December 31, 2017 consisted of retail and brokered non-maturity savings deposits, retail and brokered non-maturity money market deposits (“MMDAs”) and retail and brokered certificates of deposit (“CDs”). Interest bearing deposits include deposits from Educational 529 and Health Savings plans that diversify our funding sources and additional deposits we consider to be core. These and other large omnibus accounts, aggregating the deposits of many individual depositors, represented $5.7 billion of our deposit total as of June 30, 2018, compared with $5.5 billion at December 31, 2017.

Some of our deposit products are serviced by third-party providers. Placement fees associated with the brokered CDs are amortized into interest expense using the effective interest rate method. We recognized placement fee expense of $3 million and $2 million in the three months ended June 30, 2018 and 2017, respectively, and placement fee expense of $6 million and $4 million in the six months ended June 30, 2018 and 2017, respectively. Fees paid to third-party brokers related to brokered CDs were $12 million and $3 million for the three months ended June 30, 2018 and 2017, respectively, and fees paid to third-party brokers related to brokered CDs were $19 million and $5 million for the six months ended June 30, 2018 and 2017, respectively.

Interest bearing deposits at June 30, 2018 and December 31, 2017 are summarized as follows:



	June 30, 2018				December 31, 2017
	Amount		Qtr.-End Weighted Average Stated Rate⁽¹⁾		Amount		Year-End Weighted Average Stated Rate⁽¹⁾

Money market	$	8,113,708	2.21	%	$	7,731,966	1.80	%
Savings	682,242		1.59		738,243		1.10
Certificates of deposit	7,947,935		2.54		7,034,121		1.93
Deposits - interest bearing	$	16,743,885			$	15,504,330

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⁽¹⁾ Includes the effect of interest rate swaps in effective hedge relationships.

As of June 30, 2018, and December 31, 2017, there were $406 million and $396 million, respectively, of deposits exceeding Federal Deposit Insurance Corporation (“FDIC”) insurance limits. Accrued interest on deposits was $39 million and $28 million at June 30, 2018 and December 31, 2017, respectively.