eTrade 2001 Annual Report Download - page 131

Download and view the complete annual report

Please find page 131 of the 2001 eTrade annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 197

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197

The Company pledged $3.8 billion at December 31, 2001 and $1.9 billion at September 30, 2000 of mortgage-backed securities as
collateral for repurchase agreements, short-term borrowings, derivative instruments and Federal Home Loan Bank (“FHLB”)
advances. The Company had commitments to purchase $90.8 million of mortgage-backed securities at December 31, 2001.
Realized gains and losses from sales of mortgage-backed securities were as follows (in thousands):
Year Ended
December31, 2001
ThreeMonths Ended
December 31, 2000 Year Ended
September30, 2000 Year Ended
September30, 1999
Realized gains $ 57,387 $ 9,871 $ 3,877 $ 3,700
Realized losses (5,564 )
(42 ) (403 ) (605 )
Net realized
gains
$ 51,823 $ 9,829 $ 3,474 $ 3,095
114
Table of Contents
7.LOANS RECEIVABLE—NET
Loans receivable—net are summarized as follows (in thousands):
December 31, 2001
Held-for- Investment Held-for- Sale Total Loans
Real estate loans:
One- to four-family $ 4,696,681 $ 1,621,783 $ 6,318,464
Multi-family 183 — 183
Commercial 1,981 — 1,981
Mixed-use 635 — 635
Consumer and other loans:
Automobiles, mobile homes and recreational vehicles 1,635,050 — 1,635,050
Home equity lines of credit and second mortgage loans 22,720 339 23,059
Other 12,188 49 12,237
Total loans 6,369,438 1,622,171 7,991,609
Unamortized premiums (discounts), net 44,804 (6,082 ) 38,722
Less allowance for loan losses (19,874 ) — (19,874 )
Total $ 6,394,368 $ 1,616,089 $ 8,010,457
September 30, 2000
Held-for- Investment Held-for- Sale Total Loans
Real estate loans:
One- to four-family $ 4,122,376 $ 96,708 $ 4,219,084
Multi-family 203 — 203
Commercial 1,060 1,657 2,717
2002. EDGAR Online, Inc.