Deposits

12 Months Ended

Dec. 31, 2020

The following table summarizes total deposits at December 31, 2020 and 2019.


	December 31,
	2020		2019
Deposits - interest bearing	$	22,664,899	$	24,282,906
Deposits - non-interest bearing	1,140		1,077
Total deposits	$	22,666,039	$	24,283,983

Our total deposits of $22.7 billion were comprised of $11.9 billion in brokered deposits and $10.8 billion in retail and other deposits at December 31, 2020, compared with total deposits of $24.3 billion, which were comprised of $13.8 billion in brokered deposits and $10.5 billion in retail and other deposits, at December 31, 2019.

Interest bearing deposits as of December 31, 2020 and 2019 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 $7.1 billion of our deposit total as of December 31, 2020, compared with $6.8 billion at December 31, 2019.

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 $19 million, $18 million, and $13 million in the years ended December 31, 2020, 2019 and 2018, respectively. Fees paid to third-party brokers related to these CDs were $5 million, $28 million, and $26 million during the years ended December 31, 2020, 2019 and 2018, respectively.

Interest bearing deposits at December 31, 2020 and 2019 are summarized as follows:


	December 31, 2020				December 31, 2019
	Amount		Year-End Weighted Average Stated Rate(1)		Amount		Year-End Weighted Average Stated Rate(1)

Money market	$	10,159,657	0.83	%	$	9,616,547	2.04	%
Savings	907,976		0.55		718,616		1.71
Certificates of deposit	11,597,266		1.34		13,947,743		2.44
Deposits - interest bearing	$	22,664,899			$	24,282,906

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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,
	2020		2019
One year or less	$	5,728,556	$	4,934,933
After one year to two years	3,363,022		4,279,406
After two years to three years	1,603,229		2,807,297
After three years to four years	553,911		1,285,504
After four years to five years	300,346		548,492
After five years	48,202		92,111
Total	$	11,597,266	$	13,947,743

As of December 31, 2020 and 2019, there were $571 million and $963 million, respectively, of deposits exceeding FDIC insurance limits. Accrued interest on deposits was $50 million and $68 million at December 31, 2020 and 2019, respectively.