Deposits consist of interest-bearing demand deposits (primarily money market and savings accounts), non-interest bearing demand deposits, and certificates of deposit. Deposits at March 31, 2025 and December 31, 2024 were as follows (in thousands):


	March 31, 2025		December 31, 2024
Demand deposits (interest-bearing)	$	29,180,478	$	28,580,415
Demand deposits (non-interest-bearing)		432,368		318,229
Certificates of deposit		26,426		203,583
	$	29,639,272	$	29,102,227

The weighted-average interest rate on deposits was 2.70% and 3.22% at March 31, 2025 and December 31, 2024, respectively. Certificates of deposit, of $0.1 million and greater, due within one year at March 31, 2025 was $26.4 million.

At March 31, 2025, related party deposits, primarily interest-bearing and time deposits of executive officers, directors, and their affiliates were immaterial. At December 31, 2024, related party deposits, primarily interest-bearing and time deposits of executive officers, directors, and their affiliates were $2.5 million. Brokerage customers’ deposits were $26.2 billion and $27.1 billion, respectively.