Deposits consist of interest-bearing demand deposits (primarily money market and savings accounts), non-interest bearing demand deposits, and certificates of deposit. Deposits at June 30, 2025 and December 31, 2024 were as follows (in thousands):


	June 30, 2025		December 31, 2024
Demand deposits (interest-bearing)	$	28,171,862	$	28,580,415
Demand deposits (non-interest-bearing)		373,823		318,229
Certificates of deposit		127,378		203,583
	$	28,673,063	$	29,102,227

The weighted-average interest rate on deposits was 2.67% and 3.22% at June 30, 2025 and December 31, 2024, respectively. Certificates of deposit, of $0.1 million and greater, due within one year at June 30, 2025 was $127.4 million.

At June 30, 2025, related party deposits, primarily interest-bearing and time deposits of executive officers, directors, and their affiliates were immaterial. At December 31, 2024, bank deposits include related party deposits, primarily interest-bearing and time deposits of executive officers, directors, and their affiliates were $2.5 million. Brokerage customers’ deposits were $24.9 billion and $27.1 billion, respectively.