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Bank Deposits

3 Months Ended

Mar. 31, 2020

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, 2020 and December 31, 2019 were as follows (in thousands):

		March 31, 2020				December 31, 2019
Money market and savings accounts		$	15,465,695			$	13,530,670
Demand deposits (interest-bearing)			926,377				1,113,296
Demand deposits (non-interest-bearing)			261,776				165,657
Certificates of deposit			227,085				522,958
		$	16,880,933			$	15,332,581

 The weighted-average interest rate on deposits was 0.25% and 0.64% at March 31, 2020 and December 31, 2019, respectively.

Scheduled maturities of certificates of deposit at March 31, 2020 and December 31, 2019 were as follows (in thousands):

		March 31, 2020				December 31, 2019
Certificates of deposit, less than $100,000:
Within one year		$	4,971			$	5,305
One to three years			6,212				360
Three to five years			213				13
		$	11,396			$	5,678
Certificates of deposit, $100,000 and greater:
Within one year		$	175,825			$	441,341
One to three years			39,864				68,855
Three to five years			—				7,084
			215,689				517,280
		$	227,085			$	522,958

At March 31, 2020 and December 31, 2019, the amount of deposits includes related party deposits, primarily interest-bearing and time deposits of executive officers, directors, and their affiliates of $5.2 million and $6.7 million, respectively. Brokerage customers’ deposits were $15.6 billion and $13.9 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=116652737&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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