E*TRADE Financial Corporation Reports Monthly Activity for February 2013; Provides Updates to Its Lo
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Mar 13th 2013 8:36AM
Updated Mar 13th 2013 8:42AM
E*TRADE Financial Corporation Reports Monthly Activity for February 2013; Provides Updates to Its Loan Delinquencies
NEW YORK--(BUSINESS WIRE)-- E*TRADE Financial Corporation (NAS: ETFC) today released its Monthly Activity Report for February 2013.
Daily Average Revenue Trades ("DARTs") for February were 152,154, a one percent decrease from January and a 10 percent decrease from the year-ago period. The Company added 31,123 gross new brokerage accounts in February, ending the month with approximately 2.9 million brokerage accounts - an increase of 9,941 from January. Total accounts ended the month at approximately 4.5 million.
Net new brokerage assets were positive $0.9 billion in the month. During the month, customer security holdings increased by one percent, or $1.1 billion, and brokerage-related cash ended the month unchanged, at $34.2 billion, while customers were net buyers of approximately $0.9 billion in securities. Bank-related cash and deposits ended the month unchanged, at $6.9 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) decreased nine percent from December 31, 2012 to February 28, 2013 and decreased two percent from January 31, 2013 to February 28, 2013, while total "at risk" delinquencies (30 to 179 days delinquent) decreased eight percent from December 31, 2012 to February 28, 2013 and decreased four percent from January 31, 2013 to February 28, 2013. Additional loan delinquency data is provided in the second table of this release.
Monthly Activity Data
| Feb-13 | Jan-13 | Feb-12 | % Chg. M/M | % Chg. Y/Y | |||||||||||||||||||
| Trading days | 19.0 | 21.0 | 20.0 | N.M. | N.M. | ||||||||||||||||||
| DARTs | 152,154 | 153,580 | 168,973 | (0.9 | )% | (10.0 | )% | ||||||||||||||||
| Gross new brokerage accounts | 31,123 | 31,286 | 39,023 | (0.5 | )% | (20.2 | )% | ||||||||||||||||
| Gross new stock plan accounts | 21,256 | 21,310 | 19,406 | (0.3 | )% | 9.5 | % | ||||||||||||||||
| Gross new banking accounts | 933 | 980 | 1,695 | (4.8 | )% | (45.0 | )% | ||||||||||||||||
| Total gross new accounts | 53,312 | 53,576 | 60,124 | (0.5 | )% | (11.3 | )% | ||||||||||||||||
| Net new brokerage accounts | 9,941 | 9,127 | 18,120 | N.M. | N.M. | ||||||||||||||||||
| Net new stock plan accounts | 8,258 | 9,114 | 7,608 | N.M. | N.M. | ||||||||||||||||||
| Net new banking accounts | (2,122 | ) | (2,841 | ) | (3,184 | ) | N.M. | N.M. | |||||||||||||||
| Net new accounts | 16,077 | 15,400 | 22,544 | N.M. | N.M. | ||||||||||||||||||
| End of period brokerage accounts | 2,922,259 | 2,912,318 | 2,811,173 | 0.3 | % | 4.0 | % | ||||||||||||||||
| End of period stock plan accounts | 1,164,966 | 1,156,708 | 1,096,256 | 0.7 | % | 6.3 | % | ||||||||||||||||
| End of period banking accounts | 424,309 | 426,431 | 457,906 | (0.5 | )% | (7.3 | )% | ||||||||||||||||
| End of period total accounts | 4,511,534 | 4,495,457 | 4,365,335 | 0.4 | % | 3.3 | % | ||||||||||||||||
|
Customer Assets ($B) |
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| Security holdings | $ | 144.9 | $ | 143.8 | $ | 133.7 | 0.8 | % | 8.4 | % | |||||||||||||
| Customer payables (cash) | 4.9 | 5.1 | 5.7 | (3.9 | )% | (14.0 | )% | ||||||||||||||||
| Customer cash balances held by third parties(1) | 9.5 | 9.3 | 3.7 | 2.2 | % | 156.8 | % | ||||||||||||||||
| Unexercised stock plan customer options (vested) | 25.5 | 25.2 | 23.3 | 1.2 | % | 9.4 | % | ||||||||||||||||
| Customer assets in brokerage and stock plan accounts | 184.8 | 183.4 | 166.4 | 0.8 | % | 11.1 | % | ||||||||||||||||
| Sweep deposits | 19.8 | 19.8 | 21.2 | 0.0 | % | (6.6 | )% | ||||||||||||||||
| Savings, transaction and other | 6.9 | 6.9 | 7.9 | 0.0 | % | (12.7 | )% | ||||||||||||||||
| Customer assets in banking accounts | 26.7 | 26.7 | 29.1 | 0.0 | % | (8.2 | )% | ||||||||||||||||
| Total customer assets | $ | 211.5 | $ | 210.1 | $ | 195.5 | 0.7 | % | 8.2 | % | |||||||||||||
| Net new brokerage assets ($B)(2) | $ | 0.9 | $ | 1.0 | $ | 1.9 | N.M. | N.M. | |||||||||||||||
| Net new banking assets ($B)(2) | (0.0 | ) | (0.2 | ) | 0.1 | N.M. | N.M. | ||||||||||||||||
| Net new customer assets ($B)(2) | $ | 0.9 | $ | 0.8 | $ | 2.0 | N.M. | N.M. | |||||||||||||||
| Brokerage related cash ($B) | $ | 34.2 | $ | 34.2 | $ | 30.6 | 0.0 | % | 11.8 | % | |||||||||||||
| Other customer cash and deposits ($B) | 6.9 | 6.9 | 7.9 | 0.0 | % | (12.7 | )% | ||||||||||||||||
| Total customer cash and deposits ($B) | $ | 41.1 | $ | 41.1 | $ | 38.5 | 0.0 | % | 6.8 | % | |||||||||||||
| Customer net (purchase) / sell activity ($B) | $ | (0.9 | ) | $ | (0.3 | ) | $ | 0.0 | N.M. | N.M. | |||||||||||||
(1) Customer cash balances held by third parties are held outside E*TRADE Financial and include money market funds and sweep deposit accounts at unaffiliated financial institutions.
(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-13 | Jan-13 | Dec-12 |
% Chg.
|
% Chg.
|
% Chg.
|
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|
One- to Four-Family ($MM) |
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| Current | $ | 4,734 | $ | 4,799 | $ | 4,858 | (1 | )% | (1 | )% | (3 | )% | ||||||||||||
| 30-89 days delinquent | 211 | 216 | 233 | (2 | )% | (7 | )% | (9 | )% | |||||||||||||||
| 90-179 days delinquent | 93 | 100 | 95 | (7 | )% | 5 | % | (2 | )% | |||||||||||||||
| Total 30-179 days delinquent | 304 | 316 | 328 | (4 | )% | (4 | )% | (7 | )% | |||||||||||||||
| 180+ days delinquent | 272 | 274 | 279 | (1 | )% | (2 | )% | (3 | )% | |||||||||||||||
| Total delinquent loans(1) | 576 | 590 | 607 | (2 | )% | (3 | )% | (5 | )% | |||||||||||||||
| Gross loans receivable(2) | $ | 5,310 | $ | 5,389 | $ | 5,465 | (1 | )% | (1 | )% | (3 | )% | ||||||||||||
|
Home Equity ($MM) |
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| Current | $ | 3,947 | $ | 4,004 | $ | 4,065 | (1 | )% | (2 | )% | (3 | )% | ||||||||||||
| 30-89 days delinquent | 84 | 85 | 90 | (1 | )% | (6 | )% | (7 | )% | |||||||||||||||
| 90-179 days delinquent | 57 | 60 | 64 | (5 | )% | (6 | )% | (11 | )% | |||||||||||||||
| Total 30-179 days delinquent | 141 | 145 | 154 | (3 | )% | (6 | )% | (8 | )% | |||||||||||||||
| 180+ days delinquent | 42 | 41 | 41 | 2 | % | 0 | % | 2 | % | |||||||||||||||
| Total delinquent loans(1) | 183 | 186 | 195 | (2 | )% | (5 | )% | (6 | )% | |||||||||||||||
| Gross loans receivable(2) | $ | 4,130 | $ | 4,190 | $ | 4,260 | (1 | )% | (2 | )% | (3 | )% | ||||||||||||
