E*TRADE Financial Corporation Reports Monthly Activity for February 2013; Provides Updates to Its Lo

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Updated

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)

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.
Feb 13 -
Jan 13

% Chg.
Jan 13 -
Dec 12

% Chg.
Feb 13 -
Dec 12

One- to Four-Family ($MM)

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)

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

)%

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