Mar. 17, 2010 (Business Wire) -- E*TRADE FINANCIAL Corporation (NASDAQ: ETFC) today released its Monthly Activity Report for February 2010 and provided intra-quarter loan portfolio delinquencies.
The Company ended the month with more than 2.6 million U.S. brokerage accounts – including gross new brokerage accounts of 29,897 and net new brokerage accounts of 7,761 during the month. Total accounts ended the month at approximately 4.4 million. Daily Average Revenue Trades (“DARTs”) from U.S. operations for February were 138,728, a decrease of 20 percent from January and 15 percent from the year ago period.
U.S. net new brokerage assets were positive $0.6 billion in the month, totaling $1.2 billion year-to-date. During the month, customer security holdings increased by five percent, or $5.5 billion, and brokerage-related cash grew by $0.3 billion to $20 billion. Customers were net buyers of approximately $0.3 billion in securities in February. Bank-related cash and deposits declined by $0.3 billion.
The Company also updated delinquency statistics in its loan portfolio. For the Company’s entire loan portfolio, total special mention delinquencies (30 to 89 days delinquent) declined by less than one percent from December 31, 2009 to February 28, 2010 while total “at risk” delinquencies (30 to 179 days delinquent) declined by three percent for the same period.
Detailed information concerning loan delinquencies is provided in table form on page 3 of this release.
| Monthly Activity Data | ||||||||||||||
| Feb-10 | Jan-10 | Feb-09 | % Chg. M/M | % Chg. Y/Y | ||||||||||
| Trading days | 19.0 | 19.0 | 19.0 | N.M. | N.M. | |||||||||
| DARTs from U.S. operations | 138,728 | 172,445 | 162,891 | (19.6)% | (14.8)% | |||||||||
| DARTs from International local operations | 11,310 | 11,420 | 18,853 | (1.0)% | (40.0)% | |||||||||
| Total DARTs | 150,038 | 183,865 | 181,744 | (18.4)% | (17.4)% | |||||||||
| Gross new brokerage accounts | 29,897 | 30,850 | 34,536 | (3.1)% | (13.4)% | |||||||||
| Gross new stock plan accounts | 10,178 | 16,364 | 10,977 | (37.8)% | (7.3)% | |||||||||
| Gross new banking accounts | 2,351 | 2,292 | 15,284 | 2.6 % | (84.6)% | |||||||||
| Gross new international local brokerage accounts | 423 | 644 | 1,564 | (34.3)% | (73.0)% | |||||||||
| Total gross new accounts | 42,849 | 50,150 | 62,361 | (14.6)% | (31.3)% | |||||||||
| Net new brokerage accounts | 7,761 | (2,392) | 10,946 | N.M. | N.M. | |||||||||
| Net new stock plan accounts | (4,056) | 1,017 | (4,541) | N.M. | N.M. | |||||||||
| Net new banking accounts | (17,427) | (10,546) | 3,227 | N.M. | N.M. | |||||||||
| Net new international local brokerage accounts | (982) | (22) | 1,052 | N.M. | N.M. | |||||||||
| Net new accounts | (14,704) | (11,943) | 10,684 | N.M. | N.M. | |||||||||
| End of period brokerage accounts | 2,635,448 | 2,627,687 | 2,539,057 | 0.3 % | 3.8 % | |||||||||
| End of period stock plan accounts | 1,022,774 | 1,026,830 | 1,010,931 | (0.4)% | 1.2 % | |||||||||
| End of period banking accounts | 695,431 | 712,858 | 829,868 | (2.4)% | (16.2)% | |||||||||
| End of period international local brokerage accounts | 81,435 | 82,417 | 83,940 | (1.2)% | (3.0)% | |||||||||
| End of period total accounts | 4,435,088 | 4,449,792 | 4,463,796 | (0.3)% | (0.6)% | |||||||||
| Customer Assets ($MM) | ||||||||||||||
| Security holdings | $ | 120,426 | $ | 114,972 | $ | 69,993 | 4.7 % | 72.1 % | ||||||
| Brokerage related cash | 20,273 | 19,986 | 15,188 | 1.4 % | 33.5 % | |||||||||
| International local brokerage cash | 411 | 449 | 383 | (8.5)% | 7.3 % | |||||||||
| Other customer cash and deposits | 12,195 | 12,469 | 17,155 | (2.2)% | (28.9)% | |||||||||
| Total customer assets | $ | 153,305 | $ | 147,876 | $ | 102,719 | 3.7 % | 49.2 % | ||||||
| Net new brokerage assets ($B)(1) | $ | 0.6 | $ | 0.6 | $ | 0.8 | N.M. | N.M. | ||||||
| Net new banking assets ($B)(1) | (0.3) | (0.5) | 0.4 | N.M. | N.M. | |||||||||
| Net new international local brokerage assets ($B)(1) | - | 0.1 | - | N.M. | N.M. | |||||||||
| Net new customer assets ($B)(1) | $ | 0.3 | $ | 0.2 | $ | 1.2 | N.M. | N.M. | ||||||
(1) 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(2) | |||||||||||||||||||||
| Feb-10 | Jan-10 | Dec-09 | % Chg. | % Chg. | % Chg. | ||||||||||||||||
| One- to Four-Family ($MM) | |||||||||||||||||||||
| Current | $ | 8,453 | $ | 8,633 | $ | 8,845 | (2 | )% | (2 | )% | (4 | )% | |||||||||
| 30-89 days delinquent | 521 | 515 | 528 | 1 | % | (2 | )% | (1 | )% | ||||||||||||
| 90-179 days delinquent | 351 | 381 | 387 | (8 | )% | (2 | )% | (9 | )% | ||||||||||||
| Total 30-179 days delinquent | 872 | 896 | 915 | (3 | )% | (2 | )% | (5 | )% | ||||||||||||
| 180+ days delinquent(3) | 896 | 864 | 842 | 4 | % | 3 | % | 6 | % | ||||||||||||
| Total delinquent loans | 1,768 | 1,760 | 1,757 | 0 | % | 0 | % | 1 | % | ||||||||||||
| Gross loans receivable(4) | $ | 10,221 | $ | 10,393 | $ | 10,602 | (2 | )% | (2 | )% | (4 | )% | |||||||||
| Home Equity ($MM) | |||||||||||||||||||||
| Current | $ | 7,150 | $ | 7,268 | $ | 7,386 | (2 | )% | (2 | )% | (3 | )% | |||||||||
| 30-89 days delinquent | 251 | 240 | 247 | 5 | % | (3 | )% | 2 | % | ||||||||||||
| 90-179 days delinquent | 188 | 193 | 194 | (3 | )% | (1 | )% | (3 | )% | ||||||||||||
| Total 30-179 days delinquent | 439 | 433 | 441 | 1 | % | (2 | )% | (0 | )% | ||||||||||||
| 180+ days delinquent(3) | 59 | 62 | 56 | (5 | )% | 11 | % | 5 | % | ||||||||||||
| Total delinquent loans | 498 | 495 | 497 | 1 | % | (0 | )% | 0 | % | ||||||||||||
| Gross loans receivable(4) | $ | 7,648 | $ | 7,763 | $ | 7,883 | (1 | )% | (2 | )% | (3 | )% | |||||||||
| Consumer and Other ($MM) | |||||||||||||||||||||
| Current | $ | 1,779 | $ | 1,799 | $ | 1,828 | (1 | )% | (2 | )% | (3 | )% | |||||||||
| 30-89 days delinquent | 31 | 31 | 30 | 0 | % | 3 | % | 3 | % | ||||||||||||
| 90-179 days delinquent | 5 | 5 | 6 | 0 | % | (17 | )% | (17 | )% | ||||||||||||
| Total 30-179 days delinquent | 36 | 36 | 36 | 0 | % | 0 | % | 0 | % | ||||||||||||
| 180+ days delinquent(3) | 1 | 1 | 1 | 0 | % | 0 | % | 0 | % | ||||||||||||
| Total delinquent loans | 37 | 37 | 37 | 0 | % | 0 | % | 0 | % | ||||||||||||
| Gross loans receivable(4) | $ | 1,816 | $ | 1,836 | $ | 1,865 | (1 | )% | (2 | )% | (3 | )% | |||||||||
| Total Loans Receivable ($MM) | |||||||||||||||||||||
| Current | $ | 17,382 | $ | 17,700 | $ | 18,059 | (2 | )% | (2 | )% | (4 | )% | |||||||||
| 30-89 days delinquent | 803 | 786 | 805 | 2 | % | (2 | )% | (0 | )% | ||||||||||||
| 90-179 days delinquent | 544 | 579 | 587 | (6 | )% | (1 | )% | (7 | )% | ||||||||||||
| Total 30-179 days delinquent | 1,347 | 1,365 | 1,392 | (1 | )% | (2 | )% | (3 | )% | ||||||||||||
| 180+ days delinquent(3) | 956 | 927 | 899 | 3 | % | 3 | % | 6 | % | ||||||||||||
| Total delinquent loans | 2,303 | 2,292 | 2,291 | 0 | % | 0 | % | 1 | % | ||||||||||||
| Total gross loans receivable(4) | $ | 19,685 | $ | 19,992 | $ | 20,350 | (2 | )% | (2 | )% | (3 | )% | |||||||||
(2) Amounts and percentages may not calculate due to rounding.
(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 Monthly Activity Data from January 2007 to February 2010 can be found on the E*TRADE FINANCIAL investor relations site 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. ETFC-G
Important Notices
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