eTrade 2002 Annual Report Download - page 53

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Table of Contents
Index to Financial Statements
The following table presents average balance data and income and expense data for our banking operations and the related interest yields and
rates for fiscal 2002, fiscal 2001 and fiscal 2000. The table also presents information with respect to net interest margin, an indicator of
profitability. Another indicator of profitability is net interest spread, which is the difference between the weighted average yield earned on
interest-earning banking assets and the weighted average rate paid on interest-bearing banking liabilities.
Year Ended December 31, 2002 Year Ended December 31, 2001 Year Ended September 30, 2000
Average Balance Interest Inc./Exp. Average
Yield/Cost
Average Balance Interest
Inc./Exp. Average
Yield/Cost
Average Balance Interest Inc./Exp. Average
Yield/Cost
(dollars in thousands)
Interest-earning banking assets:
Loans receivable, net(1) $ 7,520,665 $ 475,776 6.33 %
$ 6,701,905 $ 492,620 7.35 %
$ 3,165,908 $ 252,982 7.99 %
Interest bearing deposits 196,419 5,042 2.57 %
145,077 4,263 2.94 %
59,708 3,466 5.81 %
Mortgage-backed and related
available-for-sale securities
4,730,552 225,408 4.76 %
4,164,081 272,086 6.53 %
2,884,474 217,448 7.54 %
Available-for-sale investment
securities
951,789 46,498 4.89 %
1,175,669 77,116 6.60 %
228,007 16,125 7.15 %
Investment in FHLB stock 75,713 4,304 5.69 %
65,988 4,224 6.40 %
62,511 4,847 7.75 %
Trading securities 228,848 7,128 3.11 %
84,759 3,981 4.70 %
26,210 1,900 7.25 %
Total interest-earning banking
assets(2)
13,703,986 $ 764,156 5.58 %
12,337,479 $ 854,290 6.93 %
6,426,818 $ 496,768 7.73 %
Non-interest-earning banking
assets
629,341 529,233 206,554
Total banking assets $ 14,333,327 $ 12,866,712 $ 6,633,372
Interest-bearing banking liabilities:
Retail deposits $ 8,243,543 $ 335,730 4.07 %
$ 7,166,789 $ 421,064 5.88 %
$ 3,228,692 $ 197,748 6.12 %
Brokered certificates of deposit 205,239 5,975 2.91 %
29,236 1,810 6.19 %
88,601 5,825 6.56 %
FHLB advances 970,226 56,952 5.87 %
1,223,724 78,439 6.32 %
1,225,783 78,171 6.27 %
Other borrowings 3,835,442 150,002 3.91 %
3,180,272 191,473 5.94 %
1,471,435 96,566 6.46 %
Total interest-bearing banking
liabilities
13,254,450 $ 548,659 4.14 %
11,600,021 $ 692,786 5.97 %
6,014,511 $ 378,310 6.29 %
Non-interest-bearing banking
liabilities
310,086 552,513 115,280
Total banking liabilities 13,564,536 12,152,534 6,129,791
Total banking shareholders’ equity 768,791 714,178 503,581
Total banking liabilities and
shareholders’ equity
$ 14,333,327 $ 12,866,712 $ 6,633,372
Excess of interest-earning banking
assets over interest-bearing
banking liabilities/net interest
income
$ 449,536 $ 215,497 $ 737,458 $ 161,504 $ 412,307 $ 118,458
Net interest spread 1.44 %
0.96 %
1.44 %
Net interest margin (net yield on
interest-earning banking assets) 1.57 %
1.31 %
1.85 %
Ratio of interest-earning banking
assets to interest-bearing banking
liabilities
103.39 %
106.36 %
106.86 %
2003. EDGAR Online, Inc.