E*TRADE FINANCIAL Corporation Reports Monthly Activity for February 2010; Provides Updates to Its Loan Delinquencies
NEW YORK--(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.
