Deposits

12 Months Ended

Dec. 31, 2019

The following table summarizes total deposits at December 31, 2019 and 2018.



	December 31,
	2019		2018
Deposits - interest bearing	$	24,282,906	$	18,942,082
Deposits - non-interest bearing	1,077		1,076
Total deposits	$	24,283,983	$	18,943,158

Our total deposits of $24.3 billion were comprised of $13.8 billion in brokered deposits and $10.5 billion in retail and other deposits at December 31, 2019, compared with total deposits of $18.9 billion, which were comprised of $10.3 billion in brokered deposits and $8.6 billion in retail and other deposits, at December 31, 2018.

Interest bearing deposits as of December 31, 2019 and 2018 consisted of retail and brokered non-maturity savings deposits, retail and brokered non-maturity MMDAs and retail and brokered CDs. Interest bearing deposits include deposits from Educational 529 and Health Savings plans that diversify our funding sources and add deposits we consider to be core. These and other large omnibus accounts, aggregating the deposits of many individual depositors, represented $6.8 billion of our deposit total as of December 31, 2019, compared with $5.9 billion at December 31, 2018.

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 $18 million, $13 million, and $9 million in the years ended December 31, 2019, 2018 and 2017, respectively. Fees paid to third-party brokers related to these CDs were $28 million, $26 million, and $12 million during the years ended December 31, 2019, 2018 and 2017, respectively.

Interest bearing deposits at December 31, 2019 and 2018 are summarized as follows:



	December 31, 2019				December 31, 2018
	Amount		Year-End Weighted Average Stated Rate⁽¹⁾		Amount		Year-End Weighted Average Stated Rate⁽¹⁾

Money market	$	9,616,547	2.04	%	$	8,687,766	2.46	%
Savings	718,616		1.71		702,342		2.00
Certificates of deposit	13,947,743		2.44		9,551,974		2.74
Deposits - interest bearing	$	24,282,906			$	18,942,082

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

Certificates of deposit remaining maturities are summarized as follows:



	December 31,
	2019		2018
One year or less	$	4,934,933	$	4,098,520
After one year to two years	4,279,406		2,045,861
After two years to three years	2,807,297		1,479,292
After three years to four years	1,285,504		494,654
After four years to five years	548,492		1,274,198
After five years	92,111		159,449
Total	$	13,947,743	$	9,551,974

As of December 31, 2019 and 2018, there were $963 million and $523 million, respectively, of deposits exceeding FDIC insurance limits. Accrued interest on deposits was $68 million and $53 million at December 31, 2019 and 2018, respectively.