Bank Deposits

3 Months Ended

Mar. 31, 2021

Deposits Liabilities Balance Sheet Reported Amounts [Abstract]

NOTE 11 – Bank Deposits

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, 2021 and December 31, 2020 were as follows (in thousands):

	March 31, 2021		December 31, 2020
Demand deposits (interest-bearing)	$	18,125,863	$	16,886,953
Demand deposits (non-interest-bearing)		524,338		411,890
Certificates of deposit		64,932		97,654
	$	18,715,133	$	17,396,497

The weighted-average interest rate on deposits was 0.03% and 0.09% at March 31, 2021 and December 31, 2020, respectively.

Scheduled maturities of certificates of deposit at March 31, 2021 and December 31, 2020 were as follows (in thousands):

	March 31, 2021		December 31, 2020
Certificates of deposit, less than $100,000:
Within one year	$	2,222	$	2,719
One to three years		263		409
Three to five years		54		254
	$	2,539	$	3,382
Certificates of deposit, $100,000 and greater:
Within one year	$	35,419	$	63,650
One to three years		26,874		30,622
Three to five years		100		—
		62,393		94,272
	$	64,932	$	97,654

At March 31, 2021 and December 31, 2020, the amount of deposits includes related party deposits, primarily interest-bearing and time deposits of executive officers, directors, and their affiliates of $6.4 million and $6.7 million, respectively. Brokerage customers’ deposits were $16.8 billion and $16.0 billion, respectively.