eTrade 2009 Annual Report Download - page 144

Scheduled maturities of certificates of deposit with denominations greater than or equal to the FDIC deposit
insurance coverage limits were as follows (dollars in thousands):
December 31,
2009 2008
Three months or less $16,887 $47,861
Three through six months 6,652 23,565
Six through twelve months 4,556 17,051
Over twelve months 4,130 7,526
Total certificates of deposit $32,225 $96,003
Operating interest expense on deposits is summarized as follows (dollars in thousands):
Year Ended December 31,
2009 2008 2007
Sweep deposit accounts $ 7,653 $ 39,971 $102,131
Complete savings accounts 140,086 331,009 313,269
Certificates of deposit 45,175 137,394 224,649
Other money market and savings accounts 5,900 38,916 150,815
Checking accounts 2,957 19,665 5,689
Brokered certificates of deposit 10,017 48,893 25,402
Total operating interest expense related to deposits $211,788 $615,848 $821,955
Accrued interest payable on these deposits, which is included in accounts payable, accrued and other
liabilities, was $2.6 million and $10.0 million at December 31, 2009 and 2008, respectively.
During the fourth quarter of 2009, the Company entered into an agreement to sell up to $1.4 billion of its
complete savings accounts to a third party. This transaction requires notification to each customer account being
sold; therefore, the Company expects that upon closing, the amount of deposits ultimately transferred will be less
than $1.4 billion.
NOTE 13—SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE AND OTHER
BORROWINGS
The maturities of borrowings at December 31, 2009 and total borrowings at December 31, 2009 and 2008
are shown below (dollars in thousands):
Repurchase
Agreements
Other Borrowings
Total
Weighted
Average
Interest Rate
FHLB
Advances Other
Years Ending December 31,
2010 $3,767,040 $ 850,000 $ 15,833 $ 4,632,873 0.32%
2011 1,374,835 — 111 1,374,946 0.68%
2012 100,000 — — 100,000 2.14%
2013 100,000 — — 100,000 2.06%
2014 200,000 320,000 — 520,000 4.69%
Thereafter 900,000 1,133,600 427,415 2,461,015 3.19%
Total borrowings at December 31,
2009 $6,441,875 $2,303,600 $443,359 $ 9,188,834 1.43%
Total borrowings at December 31,
2008 $7,381,279 $3,903,600 $450,177 $11,735,056 3.42%
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