eTrade 2000 Annual Report Download - page 85

loans receivable are recorded in other assets.
During fiscal 2000, a wholly-owned subsidiary of the Company purchased a residential property that it leases to one of its executive
officers with an option to buy. Rental income recorded in fiscal 2000 related to this property was not significant.
During fiscal 1998, the Company entered into a promissory note with Softbank Corporation, which has a 20% interest in the
Company, for 567.0 million Japanese Yen (approximately $4.1 million as of September 30, 2000). The promissory note accrues
interest at 1.5% annually. The principal and accrued interest are due in January 2003. 10. BANKING DEPOSITS
The Bank initiates deposits directly with customers through contact over the Internet, phone, mail, and walk-in at its facility. Deposits
are summarized as follows (dollars in thousands):
Weighted Average Rate Amount Percent
September 30,
2000 1999 2000 1999 2000 1999
Demand accounts, non-interest-bearing — % — % $ 627 $ 3,524 — % 0.2 %
Demand accounts, interest-bearing 3.68 % 3.86 % 136,669 41,083 2.9 1.9
Money market 4.84 % 4.80 % 395,773 308,588 8.4 14.2
Passbook savings 2.48 % 3.00 % 477 646 — 0.1
Certificates of deposit 6.32 % 5.88 % 4,096,522 1,741,743 86.8 80.5
Brokered callable certificates of deposit 6.43 % 6.62 % 91,733 67,098 1.9 3.1
Total $ 4,721,801 $ 2,162,682 100.0 % 100.0 %
Certificates of deposit and money market accounts, classified by rates at September 30, 2000 and 1999 are as follows (in thousands):
September 30,
2000 1999
Less than 4% $ 2,200 $ 1,882
4 – 5.99% 687,983 1,440,573
6 – 7.99% 3,868,892 674,341
8 – 9.99% 24,941 610
Greater than 10% 12 23
Total $ 4,584,028 $ 2,117,429
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At September 30, 2000, scheduled maturities of certificates of deposit and money market accounts are as follows (in thousands):
Less than
one year
1-2 years 2-3 years 3-4 years 4-5 years 5+ years Total
Less than 4% $ 1,592 $ 421 $ 121 $ 66 $ — $ 2 $ 2,202
4 – 5.99% 394,614 79,571 147,406 22,567 11,385 32,440 687,983
6 – 7.99% 405,818 2,155,790 544,006 263,289 25,949 474,038 3,868,890
8 – 9.99% — 64 — — — 24,877 24,941
Greater than
10%
— 12 — — — — 12
Total $ 802,024 $ 2,235,858 $ 691,533 $ 285,922 $ 37,334 $ 531,357 $ 4,584,028
The aggregate amount of certificates of deposit with denominations greater than or equal to $100,000 was $590.4 million and $220.4
million at September 30, 2000 and 1999, respectively.
2002. EDGAR Online, Inc.