eTrade 2001 Annual Report Download - page 63

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Net interest spread 0.96 %
1.44 % 1.32 %
Net interest margin (net yield on
interest-earning banking
assets)
1.31 %
1.85 % 1.83 %
Ratio of interest-earning banking
assets to interest-bearing banking
liabilities
106.36 %
106.86 % 110.01 %
Return on average total banking
assets 0.53 %
(0.08 )
% 0.09 %
Return on average net banking assets 9.46 %
(1.10 )
% 0.79 %
Equity to total banking assets 5.55 %
7.59 % 10.33 %
• Ratios calculated by excluding Employee Stock Ownership Plan, merger related and restructuring costs of $11.7million (net of tax)
and $20.4 million in the fiscal year ended December 31, 2001 and the fiscal year ended September30, 2000.
56
Table of Contents
The following table allocates the period-to-period changes in our various categories of banking-related interest and expense between
changes due to (1) changes in asset/liability volume, calculated by multiplying the change in average asset/liability volume of the
related interest-earning banking asset or interest-bearing banking liability category by the prior year’ s interest rate, and (2) changes in
interest rate, calculated by multiplying changes in interest rate by the prior year’ s asset/liability volume. Changes due to changes in
rate-volume, which is calculated as the change in interest rate multiplied by changes in volume, have been allocated proportionately
between changes in asset/liability volume and changes in interest rate.
Fiscal 2001 Versus Fiscal 2000 Fiscal 2000 Versus Fiscal 1999
Increase (Decrease) Due To Increase (Decrease) Due To
Volume Rate Total Volume Rate Total
(in thousands)
Interest earning banking assets:
Loans receivable, net $ 261,427 $ (21,789 ) $ 239,638 $ 142,007 $ 13,549 $ 155,556
Interest bearing deposits 3,137 (2,340 ) 797 1,518 641 2,159
Mortgage-backed and related
available-for-sale securities
86,580 (31,942 ) 54,638 111,297 28,658 139,955
Available-for-sale investment
securities
62,244 (1,253 ) 60,991 1,045 1,848 2,893
Investment in FHLB stock 258 (881 ) (623 ) 2,814 157 2,971
Trading securities 2,954 (873 ) 2,081 825 (30 ) 795
Total interest-earning banking
assets
416,600 (59,078 ) 357,522 259,506 44,823 304,329
Interest-bearing banking
liabilities:
Retail deposits 222,382 934 222,316 106,509 11,836 118,345
Brokered callable certificates of
deposit
(3,653 ) (362 ) (4,015 ) 1,428 (52 ) 1,376
FHLB advances (131 ) 399 268 40,954 11,408 52,362
2002. EDGAR Online, Inc.