NOTE 14 – Bank Deposits

Deposits consist of money market and savings accounts, certificates of deposit, and demand deposits. Deposits at December 31, 2012 and 2011 were as follows (in thousands):


	December 31,
	2012		2011

Money market and savings accounts	$	3,271,929	$	2,024,568
Demand deposits (interest-bearing)		64,926		29,509
Demand deposits (non-interest-bearing)		8,648		15,691
Certificates of deposit		630		1,970
	$	3,346,133	$	2,071,738

The weighted average interest rate on deposits was 0.1% and 0.2% at December 31, 2012 and 2011, respectively.

Scheduled maturities of certificates of deposit at December 31, 2012 and 2011 were as follows (in thousands):


	December 31,
	2012		2011
Certificates of deposit, less than $100:
Within one year	$	182	$	794
One to three years		203		240
Over three years		-		-
	$	385	$	1,034

Certificates of deposit, $100 and greater:
Within one year	$	245	$	656
One to three years		-		280
Over three years		-		-
	$	245	$	936
	$	630	$	1,970

At December 31, 2012 and 2011, the amount of deposits includes related party deposits, primarily brokerage customers’ deposits from Stifel Nicolaus of $3.3 billion and $2.1 billion, respectively, and interest-bearing and time deposits of executive officers, directors, and their affiliates of $0.2 million and $0.6 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.