NOTE 12 – Bank Deposits

Deposits consist of money market and savings accounts, certificates of deposit, and demand deposits. Deposits at September 30, 2011 and December 31, 2010 were as follows (in thousands):


	September 30, 2011		December 31, 2010

Money market and savings accounts	$	2,041,669	$	1,590,663
Demand deposits (interest-bearing)		55,125		22,031
Demand deposits (non-interest-bearing)		21,405		8,197
Certificates of deposit		2,564		2,677
	$	2,120,763	$	1,623,568

The weighted average interest rate on deposits was 0.2% at September 30, 2011 and December 31, 2010, respectively.

Scheduled maturities of certificates of deposit at September 30, 2011 and December 31, 2010 were as follows (in thousands):



	September 30, 2011		December 31, 2010
Certificates of deposit, less than $100:
Within one year	$	359	$	198
One to three years		495		577
Over three years		181		190
	$	1,035	$	965

Certificates of deposit, $100 and greater:
Within one year	$	747	$	692
One to three years		782		1,020
Over three years		—		—
	$	1,529	$	1,712

	$	2,564	$	2,677

At September 30, 2011 and December 31, 2010, the amount of deposits includes related party deposits, primarily brokerage customers' deposits from Stifel Nicolaus of $2.1 billion and $1.6 billion, respectively, and interest-bearing and time deposits of executive officers, directors, and their affiliates of $0.3 million and $0.4 million, respectively. Such deposits were made in the ordinary course of business and were made on substantially the same terms (including interest rates) as those prevailing at the time for comparable transactions with other persons.