eTrade 2001 Annual Report Download - page 28
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Average Balance for the
Year Ended
December31, 2001
Percentage of
Deposits Average
Rate
Average Balance for the
Year Ended
September30, 2000
Percentage of
Deposits Average
Rate
Average Balance for the
Year Ended
September30, 1999
Percentage of
Deposits Average
Rate
(in thousands)
Passbook $ 375 0.01 %
2.99 %
$ 498 0.02 %
2.48 %
$ 563 0.04 %
3.00 %
Money market 1,644,951 22.61 2.78 %
178,174 5.27 4.84 %
238,031 16.19 4.80 %
Demand accounts 183,530 2.52 1.44 %
236,316 6.99 3.68 %
22,655 1.54 3.86 %
Certificates of
deposit
5,417,310 74.46 5.28 %
2,876,229 85.10 6.32 %
1,142,326 77.67 5.88 %
Brokered callable
certificates of deposit
29,236 0.40 6.86 %
88,601 2.62 6.43 %
67,085 4.56 6.62 %
Total $ 7,275,402 100.00 %
$ 3,379,818 100.00 %
$ 1,470,660 100.00 %
The following table classifies our deposit accounts by rate at the dates indicated.
December31, 2001 September30, 2000
(in thousands)
0–1.99% $ 247,755 $ 139,262
2–3.99% 3,692,242 711
4–5.99% 2,219,535 687,983
6–7.99% 1,923,269 3,868,892
8–9.99% 57 24,941
10–11.99% 1 3
12–20.00% — 9
$ 8,082,859 $ 4,721,801
The following table classifies the amount of our large certificates of deposit, i.e., in amounts of $100,000 or more, by time remaining
until maturity, as of December 31, 2001.
Certificates of Deposit
(inthousands)
Three months or less $ 254,696
Three through six months 204,979
Six through twelve months 335,282
Over twelve months 163,781
Total $ 958,738
Borrowings
Although deposits are our primary source of funds, we also borrow from the FHLB and sell securities under repurchase agreements to
acquire additional funding. We are a member of the FHLB system, which, among other things, functions in a reserve credit capacity
for savings institutions. This membership requires us to own capital stock in the FHLB. It also authorizes us to apply for advances on
the security of FHLB stock and various home mortgages and other assets—principally securities that are obligations of, or guaranteed
2002. EDGAR Online, Inc.