Stock Trading

Sep 15, 2009 7:30:00 AM
Copyright Business Wire 2009




View Additional ProfilesNEW YORK--(BUSINESS WIRE)-- E*TRADE FINANCIAL Corporation (NASDAQ: ETFC) today released its Monthly Activity Report for August and provided an intra-quarter update on its loan portfolio delinquencies and certain key financial and balance sheet metrics.

The Company ended August with record brokerage accounts of more than 2.7 million, including gross new brokerage accounts of 31,324 and net new brokerage accounts of 11,321 during the month. Total accounts ended the month at more than 4.5 million. Total Daily Average Revenue Trades ("DARTs") for August were 208,495 - an increase of 18.3 percent from July and 37.4 percent from the year ago period. The Company reported approximately 200,000 DARTs for September month to date (as of September 11).

Customer security holdings increased 2.9 percent and brokerage related cash increased by $982 million in August. This was offset by a $380 million reduction in Bank related customer cash and deposits, as the Company continued to execute on its balance sheet reduction strategy. This led to a 2.6 percent increase in total customer assets in the month and flat net new customer assets. Customers were net sellers of approximately $600 million of securities in August.

The Company also provided an update concerning delinquencies in its loan portfolio. Special mention delinquencies (30 to 89 days delinquent) for its home equity portfolio, which represents the Company's greatest exposure to loan losses, remained flat from June 30 to August 31. Home equity "at risk" delinquencies (30 to 179 days delinquent) declined seven percent from June 30 to August 31. Total special mention delinquencies for the Company's loan portfolio, which includes one- to four-family, home equity and consumer and other loans, declined by four percent quarter to date, as of August 31, 2009.

Detailed information concerning loan delinquencies is provided in table form on page 4 of this release.

The Company also provided an update to certain key financial and balance sheet metrics through the first two months of the third quarter, as well as certain forecasts for the third quarter 2009 results. The Company cautions that this data is preliminary as of September 14, 2009 and subject to change.

July and August Quarter-to-Date Results

-- Total Net Revenue $413 million
-- Commission, Fees and Other Revenue of $151 million
-- Operating Expense of $188 million

NEW YORK, Mar 18, 2009 (BUSINESS WIRE) --
ETFC | Quote | Chart | News | PowerRating -- E*TRADE FINANCIAL Corporation (NASDAQ: ETFC | Quote | Chart | News | PowerRating) today released its Monthly
Activity Report for February and provided an intra-quarter update on its
loan portfolio delinquencies.


The Company opened 62,361 gross new retail accounts in February, with
net new retail accounts of 10,684. This included 11,998 net new
brokerage accounts and 3,227 net new banking accounts, offset by a net
loss of 4,541 stock plan accounts. The Company's total retail accounts
now stand at a record 4.57 million. Total Daily Average Revenue Trades
("DARTs") decreased 1.3 percent sequentially to 181,744.


Asset flows for the month continued to be positive, as the Company
realized more than $1 billion in net new customer assets, marking the
fifth consecutive month of positive inflows. Total customer cash and
deposits (including brokerage related cash) increased slightly during
the month. Customers were net buyers of over $1 billion in securities in
February.


The Company also provided an update concerning delinquencies in its loan
portfolio. Given the importance of such data in the current economic
environment, the Company intends to provide an update midway between
quarterly earnings releases in 2009, either in connection with an
investor presentation or as a supplement to a Monthly Activity Report.


The data show that "special mention" delinquencies (30 to 89 days
delinquent) for its home equity portfolio, which represents the
Company's greatest exposure to loan losses, declined by 9 percent in
January from December and by another 8 percent in February from January
(a cumulative decline of 16 percent since December 2008). Home equity
"at risk" delinquencies (30 to 179 days delinquent) show a cumulative
decline of 1 percent quarter to date.


Total special mention delinquencies for the Company's loan portfolio,
which also includes one- to four-family first liens and consumer and
other loans, declined by 3 percent in January from December and by 4
percent in February from January (a cumulative decline of 7 percent
since December 2008).


Detailed information concerning the loan delinquencies is provided in
table form on page 3 of this release.


Monthly Activity Data Feb-09 Jan-09 Feb-08(1) % Chg. M/M % Chg. Y/YTrading days 19.0 20.0 20.0 N.M. N.M.Daily Average Revenue Trades 181,744 184,158 165,562 (1.3 )% 9.8 %Gross new brokerage accounts 36,100 36,022 42,100 0.2 % (14.3 )%Gross new stock plan accounts 10,977 15,717 14,205 (30.2 )% (22.7 )%Gross new banking accounts 15,284 23,402 42,042 (34.7 )% (63.6 )%Total gross new retail accounts 62,361 75,141 98,347 (17.0 )% (36.6 )%End of period brokerage accounts 2,622,997 2,610,999 2,472,959 0.5 % 6.1 %End of period stock plan accounts 1,010,931 1,015,472 1,039,262 (0.4 )% (2.7 )%End of period banking accounts 932,065 928,838 843,038 0.3 % 10.6 %Total end of period retail accounts 4,565,993 4,555,309 4,355,259 0.2 % 4.8 %Retail Customer Assets ($MM)Security holdings $ 69,993 $ 76,373 $ 132,567 (8.4 )% (47.2 )%Brokerage related cash 15,571 15,881 17,642 (2.0 )% (11.7 )%Other customer cash and deposits 17,155 16,720 15,975 2.6 % 7.4 %Total retail customer assets $ 102,719 $ 108,974 $ 166,184 (5.7 )% (38.2 )%Net new customer assets ($B) $ 1.2 $ 1.2 $ 1.0 N.M. N.M.(1) These metrics have been re-presented to exclude activity
from discontinued operations.


Historical Monthly Activity Data from January 2006 to February 2009 can
be found on the E*TRADE FINANCIAL investor relations site at https://investor.etrade.com.


Loan Delinquency Data(1) Feb-09 Jan-09 Dec-08 % Chg. % Chg. QTD Feb 09 - Jan 09 - % Chg. Jan 09 Dec 08 Feb 09 - Dec 08One- to Four-Family ($MM)Current $ 11,393 $ 11,637 $ 11,836 (2 )% (2 )% (4 )%30-89 days delinquent 589 602 594 (2 )% 1 % (1 )%90-179 days delinquent 394 322 273 22 % 18 % 44 %Total 30-179 days delinquent 983 924 867 6 % 7 % 13 %180+ days delinquent 390 353 320 10 % 10 % 22 %Total delinquent loans(2) 1,373 1,277 1,187 8 % 8 % 16 %Gross loans receivable(3) $ 12,766 $ 12,914 $ 13,023 (1 )% (1 )% (2 )%Home Equity ($MM)Current $ 9,111 $ 9,269 $ 9,431 (2 )% (2 )% (3 )%30-89 days delinquent 343 371 408 (8 )% (9 )% (16 )%90-179 days delinquent 339 315 278 8 % 13 % 22 %Total 30-179 days delinquent 682 686 686 (1 )% 0 % (1 )%180+ days delinquent 71 65 63 9 % 3 % 13 %Total delinquent loans(2) 753 751 749 0 % 0 % 1 %Gross loans receivable(3) $ 9,864 $ 10,020 $ 10,180 (2 )% (2 )% (3 )%Consumer and Other ($MM)Current $ 2,207 $ 2,251 $ 2,288 (2 )% (2 )% (4 )%30-89 days delinquent 30 30 33 0 % (9 )% (9 )%90-179 days delinquent 10 10 7 0 % 43 % 43 %Total 30-179 days delinquent 40 40 40 0 % 0 % 0 %180+ days delinquent 1 1 1 0 % 0 % 0 %Total delinquent loans(2) 41 41 41 0 % 0 % 0 %Gross loans receivable(3) $ 2,248 $ 2,292 $ 2,329 (2 )% (2 )% (3 )%Total Loans Receivable ($MM)Current $ 22,711 $ 23,157 $ 23,555 (2 )% (2 )% (4 )%30-89 days delinquent 962 1,003 1,035 (4 )% (3 )% (7 )%90-179 days delinquent 743 647 558 15 % 16 % 33 %Total 30-179 days delinquent 1,705 1,650 1,593 3 % 4 % 7 %180+ days delinquent 462 419 384 10 % 9 % 20 %Total delinquent loans(2) 2,167 2,069 1,977 5 % 5 % 10 %Total gross loans receivable(3) $ 24,878 $ 25,226 $ 25,532 (1 )% (1 )% (3 )%(1) Amounts and percentages may not calculate due to rounding.


(2) Delinquency data is based on the most recent information
received from servicers: generally on a one-month lag for one- to
four-family loans and current month for home equity loans and consumer
and other loans.


(3) Includes unpaid principal balances and premiums
(discounts).