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Bank Deposits

3 Months Ended

Mar. 31, 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 March 31, 2019 and December 31, 2018 were as follows (in thousands):

		March 31, 2019				December 31, 2018
Money market and savings accounts		$	13,354,624			$	13,609,612
Certificates of deposit			1,174,386				1,763,336
Demand deposits (interest-bearing)			420,712				392,765
Demand deposits (non-interest-bearing)			100,155				97,900
		$	15,049,877			$	15,863,613

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

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

		March 31, 2019				December 31, 2018
Certificates of deposit, less than $100,000:
Within one year		$	4,974			$	4,858
One to three years			480				623
Three to five years			81				140
		$	5,535			$	5,621
Certificates of deposit, $100,000 and greater:
Within one year		$	1,002,302			$	1,535,784
One to three years			142,802				195,159
Three to five years			23,747				26,772
			1,168,851				1,757,715
		$	1,174,386			$	1,763,336

At March 31, 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 $7.0 million and $6.5 million, respectively. Brokerage customers’ deposits were $14.1 billion and $15.2 billion, respectively.

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- Definition

The entire disclosure for deposit liabilities including data and tables. It may include a description of the entity's deposit liabilities, the aggregate amount of time deposits (including certificates of deposit) in denominations of $100,000 or more at the balance sheet date; the aggregate amount of any demand deposits that have been reclassified as loan balances, such as overdrafts, at the balance sheet date; deposits that are received on terms other than those in the normal course of business, the amount of accrued interest on deposit liabilities; securities, mortgage loans or other financial instruments that serve as collateral for deposits; for time deposits having a remaining term of more than one year, the aggregate amount of maturities for each of the five years following the balance sheet date; and the weighted average interest rate for all deposit liabilities held by the entity.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 405
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=50488274&loc=d3e64164-112818

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.12)
-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

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- References

No definition available.

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