eTrade 2008 Annual Report Download - page 132

At December 31, 2008, scheduled maturities of certificates of deposit and brokered certificates of deposit
were as follows (dollars in thousands):
< 1 Year 1-2 Years 2-3 Years 3-4 Years 4-5 Years > 5 Years Total
Less than 2% $ 157,586 $ 4,427 $ 3,173 $ 82 $ 565 $ 210 $ 166,043
2.00%–3.99% 1,544,776 49,632 58,582 976 14,197 78,045 1,746,208
4.00%–5.99% 477,009 129,049 107,881 68,740 15,242 92,939 890,860
6.00% and above 490 240 906 11 12 — 1,659
Subtotal $2,179,861 $183,348 $170,542 $69,809 $30,016 $171,194 2,804,770
Fair value adjustments 33
Unamortized discount, net (3,194)
Total certificates of deposit and brokered certificates of deposit $2,801,609
Scheduled maturities of certificates of deposit and brokered certificates of deposit with denominations
greater than or equal to the FDIC deposit insurance coverage limits were as follows (dollars in thousands):
December 31,
2008(1) 2007(2)
Three months or less $237,092 $ 535,290
Three through six months 122,760 560,121
Six through twelve months 29,917 759,840
Over twelve months 141,233 472,836
Total certificates of deposit and brokered certificates of deposit $531,002 $2,328,087
(1) Reflects scheduled maturities of certificates of deposit and brokered certificates of deposit with denominations greater than or equal to
$250,000, which was the FDIC deposit insurance coverage limit as of December 31, 2008.
(2) Reflects scheduled maturities of certificates of deposit and brokered certificates of deposit with denominations greater than or equal to
$100,000, which was the FDIC deposit insurance coverage limit as of December 31, 2007.
Operating interest expense on deposits is summarized as follows (dollars in thousands):
Year Ended December 31,
2008 2007 2006
Money market and savings accounts $369,925 $464,084 $231,602
Sweep deposit accounts 39,971 102,131 87,714
Certificates of deposit 137,394 224,649 183,828
Checking accounts 19,665 5,689 3,347
Brokered certificates of deposit 48,893 25,402 24,726
Total operating interest expense related to deposits $615,848 $821,955 $531,217
Accrued interest payable on these deposits, which is included in accounts payable, accrued and other
liabilities, was $10.0 million and $15.6 million at December 31, 2008 and 2007, respectively.
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