eTrade 2007 Annual Report Download - page 58
Download and view the complete annual report
Please find page 58 of the 2007 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.-
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
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
 |
 |
The following table provides an analysis of the allowance for loan losses and net charge-offs for the past
five years (dollars in thousands):
Year Ended December 31,
2007 2006 2005 2004 2003
Allowance for loan losses, beginning of period $ 67,628 $ 63,286 $ 47,681 $ 37,847 $ 27,666
Provision for loan losses 640,078 44,970 54,016 38,121 38,523
Allowance acquired through acquisitions(1) — — — 1,547 2,748
Charge-offs:
One- to four-family (5,661) (616) (936) (186) (364)
Home equity (168,163) (15,372) (3,929) (1,464) (75)
Recreational vehicle (32,566) (25,253) (20,592) (18,419) (20,341)
Marine (8,766) (6,463) (8,009) (6,003) (7,369)
Credit card (11,608) (11,371) (17,286) (10,313) (919)
Other (915) (2,768) (6,095) (13,956) (24,666)
Total charge-offs (227,679) (61,843) (56,847) (50,341) (53,734)
Recoveries:
One- to four-family 476 167 234 — 223
Home equity 4,368 822 526 310 —
Recreational vehicle 15,771 11,959 7,848 9,088 9,738
Marine 4,591 4,091 3,960 3,225 3,806
Credit card 957 750 380 141 1
Other 1,974 3,426 5,488 7,743 8,876
Total recoveries 28,137 21,215 18,436 20,507 22,644
Net charge-offs (199,542) (40,628) (38,411) (29,834) (31,090)
Allowance for loan losses, end of period $ 508,164 $ 67,628 $ 63,286 $ 47,681 $ 37,847
Net charge-offs to average loans
receivable outstanding 0.65% 0.18% 0.26% 0.30% 0.41%
(1) Acquisition of credit card portfolio in 2004 and 2003.
The following table allocates the allowance for loan losses by loan category (dollars in thousands):
December 31,
2007 2006 2005 2004 2003
Amount %(1) Amount %(1) Amount %(1) Amount %(1) Amount %(1)
One- to four- family $ 18,831 51.3% $ 7,760 41.7% $ 4,858 37.0% $ 2,812 32.3% $ 2,360 28.6%
Home equity 459,167 39.4 31,671 45.3 26,049 42.3 15,183 31.9 3,302 19.1
Consumer and other loans:
Recreational vehicle 12,622 6.3 11,077 8.8 13,465 14.1 11,343 22.4 11,386 28.3
Marine 4,171 1.7 3,648 2.5 4,590 3.9 4,116 6.3 2,503 7.9
Commercial 2,407 0.9 1,635 0.9 669 0.5 22 — 4 —
Credit card 10,123 0.3 10,611 0.5 11,714 1.0 9,078 1.8 5,583 1.4
Other 843 0.1 1,226 0.3 1,941 1.2 5,127 5.3 12,709 14.7
Total consumer and other
loans 30,166 9.3 28,197 13.0 32,379 20.7 29,686 35.8 32,185 52.3
Total allowance for loan
losses $508,164 100.0% $67,628 100.0% $63,286 100.0% $47,681 100.0% $37,847 100.0%
(1) Represents percentage of loans receivable in category to total loans receivable, excluding premium (discount).
55