Bank Deposits

9 Months Ended

Sep. 30, 2019

Deposits Liabilities Balance Sheet Reported Amounts [Abstract]

Bank Deposits

NOTE 11 – Bank Deposits

Deposits consist of money market and savings accounts, certificates of deposit, and demand deposits. Deposits at September 30, 2019 and December 31, 2018 were as follows (in thousands):

	September 30, 2019		December 31, 2018
Money market and savings accounts	$	13,573,614	$	13,609,612
Certificates of deposit		792,515		1,763,336
Demand deposits (interest-bearing)		359,529		392,765
Demand deposits (non-interest-bearing)		110,988		97,900
	$	14,836,646	$	15,863,613

The weighted-average interest rate on deposits was 0.73% and 0.60% at September 30, 2019 and December 31, 2018, respectively.

Scheduled maturities of certificates of deposit at September 30, 2019 and December 31, 2018 were as follows (in thousands):

	September 30, 2019		December 31, 2018
Certificates of deposit, less than $100,000:
Within one year	$	5,317	$	4,858
One to three years		437		623
Three to five years		113		140
	$	5,867	$	5,621
Certificates of deposit, $100,000 and greater:
Within one year	$	706,225	$	1,535,784
One to three years		70,398		195,159
Three to five years		10,025		26,772
		786,648		1,757,715
	$	792,515	$	1,763,336

At September 30, 2019 and December 31, 2018, the amount of deposits includes related party deposits, primarily interest-bearing and time deposits of executive officers, directors, and their affiliates of $8.9 million and $6.5 million, respectively. Brokerage customers’ deposits were $13.7 billion and $15.2 billion, respectively.