eTrade 2007 Annual Report Download - page 69

Lending Activities
The following table presents the balance and associated percentage of each major loan category in our
portfolio (dollars in thousands):
December 31,
2007 2006 2005 2004 2003
Balance %(1) Balance %(1) Balance %(1) Balance %(1) Balance %(1)
One- to four-family $15,607,427 51.5% $11,149,958 42.4% $ 7,178,897 37.3% $ 3,914,187 33.6% $3,255,530 36.2%
Home equity 11,901,324 39.2 11,809,069 44.8 8,106,894 42.1 3,621,835 31.1 1,524,215 17.0
Consumer and other loans:
Recreational vehicle 1,910,454 6.3 2,292,356 8.7 2,692,055 14.0 2,567,891 22.1 2,285,451 25.4
Marine 526,580 1.7 651,764 2.5 752,645 3.9 724,125 6.2 627,975 7.0
Commercial 272,156 0.9 219,008 0.8 89,098 0.5 3,012 0.0 179 0.0
Credit card 90,764 0.3 128,583 0.5 188,600 1.0 203,169 1.8 113,434 1.3
Other 23,334 0.1 81,239 0.3 243,726 1.2 599,870 5.2 1,178,378 13.1
Total consumer and other
loans 2,823,288 9.3 3,372,950 12.8 3,966,124 20.6 4,098,067 35.3 4,205,417 46.8
Total loans(1) 30,332,039 100.0% 26,331,977 100.0% 19,251,915 100.0% 11,634,089 100.0% 8,985,162 100.0%
Adjustments:
Premiums (discounts) and
deferred fees on loans 315,507 391,844 323,637 198,627 184,078
Allowance for loan losses (508,164) (67,628) (63,286) (47,681) (37,847)
Total adjustments (192,657) 324,216 260,351 150,946 146,231
Loans, net(1) $30,139,382 $26,656,193 $19,512,266 $11,785,035 $9,131,393
(1) Includes loans held-for-sale, principally one- to four-family real estate loans. These loans were $0.1 billion, $0.3 billion, $0.1 billion,
$0.3 billion and $1.0 billion at December 31, 2007, 2006, 2005, 2004 and 2003, respectively.
Approximately 38% and 36% of the Company’s real estate loans were concentrated in California at
December 31, 2007 and 2006, respectively. No other state had concentrations of real estate loans that represented
10% or more of the Company’s real estate portfolio.
The following table shows the contractual maturities of our loan portfolio at December 31, 2007, including
scheduled principal repayments. This table does not, however, include any estimate of prepayments. These
prepayments could significantly shorten the average loan lives and cause the actual timing of the loan repayments
to differ from those shown in the following table (dollars in thousands):
Due in(1)
<1 Year 1-5 Years >5 Years Total
One- to four-family $216,771 $1,011,950 $14,378,706 $15,607,427
Home equity 260,377 1,278,439 10,362,508 11,901,324
Consumer and other loans:
Recreational vehicle 103,614 482,923 1,323,917 1,910,454
Marine 26,604 124,695 375,281 526,580
Commercial 64,833 207,323 — 272,156
Credit card 90,764 — — 90,764
Other 18,251 5,083 — 23,334
Total consumer and other loans 304,066 820,024 1,699,198 2,823,288
Total loans $781,214 $3,110,413 $26,440,412 $30,332,039
(1) Estimated scheduled principal repayments are calculated using weighted-average interest rate and weighted-average remaining maturity
of each loan portfolio.
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