Deposits (Tables)

12 Months Ended

Dec. 31, 2019

Deposits [Abstract]

Schedule of deposits

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

Interest bearing deposits

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.

Schedule of maturities of time deposits

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