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Bank Deposits

9 Months Ended

Sep. 30, 2022

Deposits Liabilities, Balance Sheet, Reported Amounts [Abstract]

Bank Deposits

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 September 30, 2022 and December 31, 2021 were as follows (in thousands):

		September 30, 2022				December 31, 2021
Demand deposits (interest-bearing)		$	26,783,010			$	22,626,560
Demand deposits (non-interest-bearing)			397,573				626,633
Certificates of deposit			10,036				27,155
		$	27,190,619			$	23,280,348

The weighted-average interest rate on deposits was 0.26% and 0.02% at September 30, 2022 and December 31, 2021, respectively.

Scheduled maturities of certificates of deposit at September 30, 2022 and December 31, 2021 were as follows (in thousands):

		September 30, 2022				December 31, 2021
Certificates of deposit, less than $100,000:
Within one year		$	—			$	159
One to three years			11				14
Three to five years			—				—
		$	11			$	173
Certificates of deposit, $100,000 and greater:
Within one year		$	10,025			$	20,098
One to three years			—				6,884
Three to five years			—				—
			10,025				26,982
		$	10,036			$	27,155

At September 30, 2022 and December 31, 2021, the amount of deposits includes related party deposits, primarily interest-bearing and time deposits of executive officers, directors, and their affiliates of $5.1 million and $8.6 million, respectively. Brokerage customers’ deposits were $20.0 billion and $21.3 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 https://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 https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (e)

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406

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X

- References

No definition available.

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