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Wed, March 16, 2011 E*TRADE Financial Corporation Reports Monthly Activity for February 2011; Provides Updates to Its Loan Delinquencies
NEW YORK--([ BUSINESS WIRE ])--E*TRADE Financial Corporation (NASDAQ: ETFC) today released its Monthly Activity Report for February 2011.
Daily Average Revenue Trades (aDARTsa) for February were 185,717, a three percent increase from January and a 34 percent increase from the year-ago period. The company ended the month with approximately 2.7 million brokerage accounts a" including gross new brokerage accounts of 37,109 and net new brokerage accounts of 18,343 during the month. Total accounts ended the month at approximately 4.3 million.
Net new brokerage assets were positive $1.4 billion in the month, the highest level since October 2008. During the month, customer security holdings increased by four percent, or $5.4 billion, and brokerage-related cash increased by $0.7 billion to $25.9 billion, while customers were net buyers of approximately $0.8 billion in securities in February. Bank-related cash and deposits increased by $0.1 billion, ending the month at $8.9 billion.
The company also updated delinquency statistics in its loan portfolio. For the companya™s entire loan portfolio, total special mention delinquencies (30 to 89 days delinquent) decreased seven percent from December 31, 2010 to February 28, 2011 and decreased two percent from January 31, 2011 to February 28, 2011, while total aat riska delinquencies (30 to 179 days delinquent) decreased by five percent from December 31, 2010 to February 28, 2011 and declined one percent from January 31, 2011 to February 28, 2011. Additional loan delinquency data is provided in the second table of this release.
Monthly Activity Data
| Feb-11 | Jan-11 | Feb-10(1) | % Chg. M/M | % Chg. Y/Y | |||||||||
| Trading days | 19.0 | 20.0 | 19.0 | N.M. | N.M. | ||||||||
| DARTs | 185,717 | 180,967 | 138,728 | 2.6 % | 33.9 % | ||||||||
| Gross new brokerage accounts | 37,109 | 37,005 | 29,897 | 0.3 % | 24.1 % | ||||||||
| Gross new stock plan accounts | 12,121 | 29,267 | 10,178 | (58.6)% | 19.1 % | ||||||||
| Gross new banking accounts | 1,846 | 1,942 | 2,351 | (4.9)% | (21.5)% | ||||||||
| Total gross new accounts | 51,076 | 68,214 | 42,426 | (25.1)% | 20.4 % | ||||||||
| Net new brokerage accounts | 18,343 | 12,504 | 7,761 | N.M. | N.M. | ||||||||
| Net new stock plan accounts | 176 | 16,201 | (4,056) | N.M. | N.M. | ||||||||
| Net new banking accounts | (4,927) | (6,275) | (17,427) | N.M. | N.M. | ||||||||
| Net new accounts | 13,592 | 22,430 | (13,722) | N.M. | N.M. | ||||||||
| End of period brokerage accounts | 2,715,158 | 2,696,815 | 2,635,448 | 0.7 % | 3.0 % | ||||||||
| End of period stock plan accounts | 1,064,901 | 1,064,725 | 1,022,774 | 0.0 % | 4.1 % | ||||||||
| End of period banking accounts | 503,795 | 508,722 | 695,431 | (1.0)% | (27.6)% | ||||||||
| End of period total accounts | 4,283,854 | 4,270,262 | 4,353,653 | 0.3 % | (1.6)% | ||||||||
Customer Assets ($B) | |||||||||||||
| Security holdings | $ | 129.7 | $ | 124.3 | $ | 101.5 | 4.3 % | 27.8 % | |||||
| Customer payables (cash) | 5.3 | 5.3 | 4.6 | 0.0 % | 15.2 % | ||||||||
| Customer cash balances held by third parties | 3.5 | 3.4 | 3.1 | 2.9 % | 12.9 % | ||||||||
| Unexercised stock plan customer options (vested) | 24.8 | 23.0 | 16.6 | 7.8 % | 49.4 % | ||||||||
| Customer assets in brokerage and stock plan accounts | 163.3 | 156.0 | 125.8 | 4.7 % | 29.8 % | ||||||||
| Sweep deposits | 17.1 | 16.5 | 12.6 | 3.6 % | 35.7 % | ||||||||
| Savings and transaction deposits | 8.5 | 8.4 | 11.1 | 1.2 % | (23.4)% | ||||||||
| CDs | 0.4 | 0.4 | 1.1 | 0.0 % | (63.6)% | ||||||||
| Customer assets in banking accounts | 26.0 | 25.3 | 24.8 | 2.8 % | 4.8 % | ||||||||
| Total customer assets | $ | 189.3 | $ | 181.3 | $ | 150.6 | 4.4 % | 25.7 % | |||||
| Net new brokerage assets ($B)(2) | $ | 1.4 | $ | 1.2 | $ | 0.6 | N.M. | N.M. | |||||
| Net new banking assets ($B)(2) | 0.1 | (0.2) | (0.3) | N.M. | N.M. | ||||||||
| Net new customer assets ($B)(2) | $ | 1.5 | $ | 1.0 | $ | 0.3 | N.M. | N.M. | |||||
| Brokerage related cash ($B) | $ | 25.9 | $ | 25.2 | $ | 20.3 | 2.8 % | 27.6 % | |||||
| Other customer cash and deposits ($B) | 8.9 | 8.8 | 12.2 | 1.1 % | (27.0)% | ||||||||
| Total customer cash and deposits ($B) | $ | 34.8 | $ | 34.0 | $ | 32.5 | 2.4 % | 7.1 % | |||||
(1) All periods presented have been updated to exclude international local activity.
(2) Net new customer assets are total inflows to all new and existing customer accounts less total outflows from all closed and existing customer accounts. The net new banking assets and net new brokerage assets metrics treat asset flows between E*TRADE entities in the same manner as unrelated third party accounts.
Loan Delinquency Data
| Feb-11 | Jan-11 | Dec-10 | % Chg. | % Chg. | % Chg. | |||||||||||||
One- to Four-Family ($MM) | ||||||||||||||||||
| Current | $ | 6,573 | $ | 6,680 | $ | 6,800 | (2 | )% | (2 | )% | (3 | )% | ||||||
| 30-89 days delinquent | 334 | 342 | 389 | (2 | )% | (12 | )% | (14 | )% | |||||||||
| 90-179 days delinquent | 225 | 224 | 226 | % | (1 | )% | (0 | )% | ||||||||||
| Total 30-179 days delinquent | 559 | 566 | 615 | (1 | )% | (8 | )% | (9 | )% | |||||||||
| 180+ days delinquent(3) | 749 | 782 | 785 | (4 | )% | (0 | )% | (5 | )% | |||||||||
| Total delinquent loans | 1,308 | 1,348 | 1,400 | (3 | )% | (4 | )% | (7 | )% | |||||||||
| Gross loans receivable(4) | $ | 7,881 | $ | 8,028 | $ | 8,200 | (2 | )% | (2 | )% | (4 | )% | ||||||
Home Equity ($MM) | ||||||||||||||||||
| Current | $ | 5,910 | $ | 6,005 | $ | 6,121 | (2 | )% | (2 | )% | (3 | )% | ||||||
| 30-89 days delinquent | 189 | 189 | 175 | % | 8 | % | 8 | % | ||||||||||
| 90-179 days delinquent | 140 | 143 | 143 | (2 | )% | % | (2 | )% | ||||||||||
| Total 30-179 days delinquent | 329 | 332 | 318 | (1 | )% | 4 | % | 3 | % | |||||||||
| 180+ days delinquent(3) | 54 | 54 | 52 | % | 4 | % | 4 | % | ||||||||||
| Total delinquent loans | 383 | 386 | 370 | (1 | )% | 4 | % | 4 | % | |||||||||
| Gross loans receivable(4) | $ | 6,293 | $ | 6,391 | $ | 6,491 | (2 | )% | (2 | )% | (3 | )% | ||||||
Consumer and Other ($MM) | ||||||||||||||||||
| Current | $ | 1,377 | $ | 1,405 | $ | 1,431 | (2 | )% | (2 | )% | (4 | )% | ||||||
| 30-89 days delinquent | 24 | 25 | 25 | (4 | )% | % | (4 | )% | ||||||||||
| 90-179 days delinquent | 4 | 5 | 5 | (20 | )% | % | (20 | )% | ||||||||||
| Total 30-179 days delinquent | 28 | 30 | 30 | (7 | )% | % | (7 | )% | ||||||||||
| 180+ days delinquent(3) | 1 | 1 | 1 | % | % | % | ||||||||||||
| Total delinquent loans | 29 | 31 | 31 | (6 | )% | % | (6 | )% | ||||||||||
| Gross loans receivable(4) | $ | 1,406 | $ | 1,436 | $ | 1,462 | (2 | )% | (2 | )% | (4 | )% | ||||||
Total Loans Receivable ($MM) | ||||||||||||||||||
| Current | $ | 13,860 | $ | 14,090 | $ | 14,352 | (2 | )% | (2 | )% | (3 | )% | ||||||
| 30-89 days delinquent | 547 | 556 | 589 | (2 | )% | (6 | )% | (7 | )% | |||||||||
| 90-179 days delinquent | 369 | 372 | 374 | (1 | )% | (1 | )% | (1 | )% | |||||||||
| Total 30-179 days delinquent | 916 | 928 | 963 | (1 | )% | (4 | )% | (5 | )% | |||||||||
| 180+ days delinquent(3) | 804 | 837 | 838 | (4 | )% | (0 | )% | (4 | )% | |||||||||
| Total delinquent loans | 1,720 | 1,765 | 1,801 | (3 | )% | (2 | )% | (4 | )% | |||||||||
| Total gross loans receivable(4) | $ | 15,580 | $ | 15,855 | $ | 16,153 | (2 | )% | (2 | )% | (4 | )% | ||||||
(3) Loans that are delinquent for 180+ days have been written down to estimated current property value.
(4) Includes unpaid principal balances and premiums (discounts).
Historical metrics and financials through February 2011 can be found on the E*TRADE Financial investor relations website at [ https://investor.etrade.com ].
About E*TRADE Financial
The E*TRADE Financial family of companies provides financial services including online brokerage and related banking products and services to retail investors. Specific business segments include Trading and Investing and Balance Sheet Management. Securities products and services are offered by E*TRADE Securities LLC (Member FINRA/SIPC). Bank products and services are offered by E*TRADE Bank, a Federal savings bank, Member FDIC, or its subsidiaries.
Important Notices
E*TRADE Financial, E*TRADE and the E*TRADE logo are trademarks or registered trademarks of E*TRADE Financial Corporation. ETFC-G
© 2011 E*TRADE Financial Corporation. All rights reserved.
