E*TRADE Financial Corporation Reports Monthly Activity for November 2011; Provides Updates to Its Loan Delinquencies
NEW YORK--(BUSINESS WIRE)-- E*TRADE Financial Corporation (ETFC) today released its Monthly Activity Report for November 2011.
Daily Average Revenue Trades (DARTs) for November were 141,361, a 10 percent decrease from October and an 11 percent decrease from the year-ago period. The company ended the month with approximately 2.8 million brokerage accounts including gross new brokerage accounts of 24,541 and net new brokerage accounts of 207 during the month. Total accounts ended the month at approximately 4.3 million.
Net new brokerage assets were positive $0.6 billion in the month. During the month, customer security holdings declined by one percent, or $1.2 billion, and brokerage-related cash declined by $0.8 billion to $26.3 billion, as customers were net purchasers of approximately $1.6 billion in securities. Bank-related cash and deposits ended the month unchanged, at $7.8 billion.
The company also updated delinquency statistics in its loan portfolio. For the companys entire loan portfolio, total special mention delinquencies (30 to 89 days delinquent) were unchanged from September 30, 2011 to November 30, 2011 and increased five percent from October 31, 2011 to November 30, 2011, while total at risk delinquencies (30 to 179 days delinquent) were unchanged from September 30, 2011 to November 30, 2011 and increased two percent from October 31, 2011 to November 30, 2011. Additional loan delinquency data is provided in the second table of this release.
Monthly Activity Data
| Nov-11 | Oct-11 | Nov-10 | % Chg. M/M | % Chg. Y/Y | ||||||||||||||
| Trading days | 20.5 | 21.0 | 20.5 | N.M. | N.M. | |||||||||||||
| DARTs | 141,361 | 157,713 | 158,770 | (10.4)% | (11.0)% | |||||||||||||
| Gross new brokerage accounts | 24,541 | 22,723 | 30,355 | 8.0 % | (19.2)% | |||||||||||||
| Gross new stock plan accounts | 11,383 | 12,147 | 12,305 | (6.3)% | (7.5)% | |||||||||||||
| Gross new banking accounts | 1,391 | 1,697 | 1,688 | (18.0)% | (17.6)% | |||||||||||||
|
Total gross new accounts |
37,315 | 36,567 | 44,348 | 2.0 % | (15.9)% | |||||||||||||
| Net new brokerage accounts | 207 | (836) | 5,182 | N.M. | N.M. | |||||||||||||
| Net new stock plan accounts | (781) | 1,597 | 2,363 | N.M. | N.M. | |||||||||||||
| Net new banking accounts | (3,541) | (3,218) | (7,514) | N.M. | N.M. | |||||||||||||
| Net new accounts | (4,115) | (2,457) | 31 | N.M. | N.M. | |||||||||||||
| End of period brokerage accounts | 2,772,187 | 2,771,980 | 2,666,051 | 0.0 % | 4.0 % | |||||||||||||
| End of period stock plan accounts | 1,062,904 | 1,063,685 | 1,036,134 | (0.1)% | 2.6 % | |||||||||||||
| End of period banking accounts | 466,024 | 469,565 | 521,799 | (0.8)% | (10.7)% | |||||||||||||
| End of period total accounts | 4,301,115 | 4,305,230 | 4,223,984 | (0.1)% | 1.8 % | |||||||||||||
|
Customer Assets ($B) |
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| Security holdings | $ | 120.1 | $ | 121.3 | $ | 114.4 | (1.0)% | 5.0 % | ||||||||||
| Customer payables (cash) | 5.1 | 5.7 | 4.9 | (10.5)% | 4.1 % | |||||||||||||
| Customer cash balances held by third parties | 3.3 | 3.4 | 3.3 | (2.9)% | 0.0 % | |||||||||||||
| Unexercised stock plan customer options (vested) | 19.1 | 19.8 | 19.9 | (3.5)% | (4.0)% | |||||||||||||
| Customer assets in brokerage and stock plan accounts | 147.6 | 150.2 | 142.5 | (1.7)% | 3.6 % | |||||||||||||
| Sweep deposits | 17.9 | 18.0 | 15.6 | (0.6)% | 14.7 % | |||||||||||||
| Savings, transaction and other | 7.8 | 7.8 | 9.0 | 0.0 % | (13.3)% | |||||||||||||
| Customer assets in banking accounts | 25.7 | 25.8 | 24.6 | (0.4)% | 4.5 % | |||||||||||||
| Total customer assets | $ | 173.3 | $ | 176.0 | $ | 167.1 | (1.5)% | 3.7 % | ||||||||||
| Net new brokerage assets ($B)(1) | $ | 0.6 | $ | 0.6 | $ | 0.8 | N.M. | N.M. | ||||||||||
| Net new banking assets ($B)(1) | (0.1) | - | (0.1) | N.M. | N.M. | |||||||||||||
| Net new customer assets ($B)(1) | $ | 0.5 | $ | 0.6 | $ | 0.7 | N.M. | N.M. | ||||||||||
| Brokerage related cash ($B) | $ | 26.3 | $ | 27.1 | $ | 23.8 | (3.0)% | 10.5 % | ||||||||||
| Other customer cash and deposits ($B) | 7.8 | 7.8 | 9.0 | 0.0 % | (13.3)% | |||||||||||||
| Total customer cash and deposits ($B) | $ | 34.1 | $ | 34.9 | $ | 32.8 | (2.3)% | 4.0 % | ||||||||||
(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
| Nov-11 | Oct-11 | Sep-11 |
% Chg. |
% Chg. |
% Chg. |
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|
One- to Four-Family ($MM) |
||||||||||||||||||||||
| Current | $ | 5,841 | $ | 5,941 | $ | 6,000 | (2)% | (1)% | (3)% | |||||||||||||
| 30-89 days delinquent | 289 | 275 | 292 | 5 % | (6)% | (1)% | ||||||||||||||||
| 90-179 days delinquent | 142 | 145 | 141 | (2)% | 3 % | 1 % | ||||||||||||||||
| Total 30-179 days delinquent | 431 | 420 | 433 | 3 % | (3)% | (0)% | ||||||||||||||||
| 180+ days delinquent | 497 | 529 | 556 | (6)% | (5)% | (11)% | ||||||||||||||||
| Total delinquent loans(1) | 928 | 949 | 989 | (2)% | (4)% | (6)% | ||||||||||||||||
| Gross loans receivable(2) | $ | 6,769 | $ | 6,890 | $ | 6,989 | (2)% | (1)% | (3)% | |||||||||||||
|
Home Equity ($MM) |
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| Current | $ | 5,157 | $ | 5,246 | $ | 5,330 | (2)% | (2)% | (3)% | |||||||||||||
| 30-89 days delinquent | 154 | 145 | 147 | 6 % | (1)% | 5 % | ||||||||||||||||
| 90-179 days delinquent | 108 | 114 | 109 | (5)% | 5 % | (1)% | ||||||||||||||||
| Total 30-179 days delinquent | 262 | 259 | 256 | 1 % | 1 % | 2 % | ||||||||||||||||
| 180+ days delinquent | 53 | 51 | 51 | 4 % | 0 % | 4 % | ||||||||||||||||
| Total delinquent loans(1) | 315 | 310 | 307 | 2 % | 1 % | 3 % | ||||||||||||||||
| Gross loans receivable(2) | $ | 5,472 | $ | 5,556 | $ | 5,637 | (2)% | (1)% | (3)% | |||||||||||||
|
Consumer and Other ($MM) |
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| Current | $ | 1,128 | $ | 1,152 | $ | 1,170 | (2)% | (2)% | (4)% | |||||||||||||
| 30-89 days delinquent | 18 | 17 | 20 | 6 % | (15)% | (10)% | ||||||||||||||||
| 90-179 days delinquent | 4 | 3 | 4 | 33 % | (25)% | 0 % | ||||||||||||||||
| Total 30-179 days delinquent | 22 | 20 | 24 | 10 % | (17)% | (8)% | ||||||||||||||||
| 180+ days delinquent | - | - | - | N.M. | N.M. | N.M. | ||||||||||||||||
| Total delinquent loans | 22 | 20 | 24 | 10 % | (17)% | (8)% | ||||||||||||||||
| Gross loans receivable(2) | $ | 1,150 | $ | 1,172 | $ | 1,194 | (2)% | (2)% | (4)% | |||||||||||||
|
Total Loans Receivable ($MM) |
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| Current | $ | 12,126 | $ | 12,339 | $ | 12,500 | (2)% | (1)% | (3)% | |||||||||||||
| 30-89 days delinquent | 461 | 437 | 459 | 5 % | (5)% | 0 % | ||||||||||||||||
| 90-179 days delinquent | 254 | 262 | 254 | (3)% | 3 % | 0 % | ||||||||||||||||
| Total 30-179 days delinquent | 715 | 699 | 713 | 2 % | (2)% | 0 % | ||||||||||||||||
| 180+ days delinquent | 550 | 580 | 607 | (5)% | (4)% | (9)% | ||||||||||||||||
| Total delinquent loans | 1,265 | 1,279 | 1,320 | (1)% | (3)% | (4)% | ||||||||||||||||
| Gross loans receivable(2) | $ | 13,391 | $ | 13,618 | $ | 13,820 | (2)% | (1)% | (3)% | |||||||||||||
(1) Delinquent loans include charge-offs for loans that are in bankruptcy or are 180 days past due which have been written down to their fair value.
(2) Includes unpaid principal balances and premiums (discounts).
Historical metrics and financials through November 2011 can be found on E*TRADE Financials 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. More information is available at www.etrade.com.
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.
E*TRADE Financial Media Relations Contact
Lea
Stendahl, 646-521-4418
lea.stendahl@etrade.com
or
E*TRADE
Financial Investor Relations Contact
Brett Goodman,
646-521-4406
brett.goodman@etrade.com
Source: E*TRADE Financial Corporation
Copyright Business Wire 2011
