E*TRADE Financial Corporation Reports Monthly Activity for May 2013; Provides Updates to Its Loan De

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E*TRADE Financial Corporation Reports Monthly Activity for May 2013; Provides Updates to Its Loan Delinquencies

NEW YORK--(BUSINESS WIRE)-- E*TRADE Financial Corporation (NAS: ETFC) today released its Monthly Activity Report for May 2013.

Daily Average Revenue Trades ("DARTs") for May were 162,940, a 15 percent increase from April and an 11 percent increase from the year-ago period. The Company added 32,157 gross new brokerage accounts in May, ending the month with approximately 3.0 million brokerage accounts - an increase of 15,648 from April. Total accounts ended the month at approximately 4.6 million.


Net new brokerage assets were positive $1.0 billion in the month. During the month, customer security holdings increased by two percent, or $2.5 billion, and brokerage-related cash increased by $1.7 billion to $36.1 billion. Bank-related cash and deposits ended the month unchanged, at $6.7 billion. Customers were net sellers of approximately $0.8 billion in securities during the month.

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 13 percent from March 31, 2013 to May 31, 2013 and decreased eight percent from April 30, 2013 to May 31, 2013, while total "at risk" delinquencies (30 to 179 days delinquent) decreased 14 percent from March 31, 2013 to May 31, 2013 and decreased six percent from April 30, 2013 to May 31, 2013. Additional loan delinquency data is provided in the second table of this release.

Monthly Activity Data

   May-13  Apr-13  May-12  % Chg. M/M  % Chg. Y/Y
 
 
Trading days22.022.022.0N.M.N.M.
 
DARTs162,940141,255146,25415.4%11.4%
 
Gross new brokerage accounts32,15733,09043,040(2.8)%(25.3)%
Gross new stock plan accounts20,27017,05614,05018.8%44.3%
Gross new banking accounts 871  904  1,449 (3.7)%(39.9)%
Total gross new accounts53,29851,05058,5394.4%(9.0)%
 
Net new brokerage accounts15,6486,53428,140N.M.N.M.
Net new stock plan accounts8,8584,8284,633N.M.N.M.
Net new banking accounts (2,084) (3,161) (3,623)N.M.N.M.
Net new accounts22,4228,20129,150N.M.N.M.
 
End of period brokerage accounts2,955,4072,939,7592,866,4510.5%3.1%
End of period stock plan accounts1,181,4531,172,5951,090,7000.8%8.3%
End of period banking accounts 416,747  418,831  449,231 (0.5)%(7.2)%
End of period total accounts4,553,6074,531,1854,406,3820.5%3.3%
 

Customer Assets ($B)

Security holdings$154.2$151.7$130.31.6%18.3%
Customer payables (cash)5.55.15.17.8%7.8%
Customer cash balances held by third parties(1)11.510.93.65.5%219.4%
Unexercised stock plan customer options (vested) 28.4  27.9  20.7 1.8%37.2%
Customer assets in brokerage and stock plan accounts 199.6  195.6  159.7 2.0%25.0%
Sweep deposits19.118.420.63.8%(7.3)%
Savings, transaction and other 6.7  6.7  7.5 0.0%(10.7)%
Customer assets in banking accounts 25.8  25.1  28.1 2.8%(8.2)%
Total customer assets$225.4$220.7$187.82.1%20.0%
 
Net new brokerage assets ($B)(2)$1.0$0.0$1.3N.M.N.M.
Net new banking assets ($B)(2) (0.0) (0.3) (0.2)N.M.N.M.
Net new customer assets ($B)(2)$1.0$(0.3)$1.1N.M.N.M.
 
Brokerage related cash ($B)$36.1$34.4$29.34.9%23.2%
Other customer cash and deposits ($B) 6.7  6.7  7.5 0.0%(10.7)%
Total customer cash and deposits ($B)$42.8$41.1$36.84.1%16.3%

 

Customer net (purchase) / sell activity ($B)$0.8$0.0$(1.9)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

   May-13  Apr-13  Mar-13  

% Chg.
May 13 -
Apr 13

  

% Chg.
Apr 13 -
Mar 13

  

% Chg.
May 13 -
Mar 13

One- to Four-Family ($MM)

  
 
Current$4,542$4,600$4,657(1)%(1)%(2)%
30-89 days delinquent191211220(9)%(4)%(13)%
90-179 days delinquent 83 85 100(2)%(15)%(17)%
Total 30-179 days delinquent274296320(7)%(8)%(14)%
180+ days delinquent 266 266 2620 %2 %2 %
Total delinquent loans(1) 540 562 582(4)%(3)%(7)%
Gross loans receivable(2)$5,082$5,162$5,239(2)%(1)%(3)%
 

Home Equity ($MM)

 
Current$3,761$3,829$3,883(2)%(1)%(3)%
30-89 days delinquent666876(3)%(11)%(13)%
90-179 days delinquent 46 47 52(2)%(10)%(12)%
Total 30-179 days delinquent112115128(3)%(10)%(13)%
180+ days delinquent 41 41 420 %(2)%(2)%
Total delinquent loans(1) 153 156 170(2)%(8)%(10)%
Gross loans receivable(2)$3,914$3,985$4,053(2)%(2)%(3)%
 

Consumer and Other ($MM)

 
Current$694$711$730(2)%(3)%(5)%
30-89 days delinquent141616(13)%0 %(13)%
90-179 days delinquent 3 3 20 %50 %50 %
Total 30-179 days delinquent171918(11)%6 %(6)%
180+ days delinquent - -
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