eTrade 2012 Annual Report Download - page 141
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Delinquent Loans
The following table shows total loans receivable by delinquency category as of December 31, 2012 and
2011 (dollars in thousands):
Current
30-89 Days
Delinquent
90-179 Days
Delinquent
180+ Days
Delinquent Total
December 31, 2012
One- to four-family $ 4,834,915 $233,796 $ 94,652 $278,811 $ 5,442,174
Home equity 4,028,936 89,347 64,239 40,939 4,223,461
Consumer and other 819,468 19,101 6,178 195 844,942
Total loans receivable $ 9,683,319 $342,244 $165,069 $319,945 $10,510,577
December 31, 2011
One- to four-family $ 5,726,745 $294,769 $136,238 $458,056 $ 6,615,808
Home equity 5,016,568 154,638 99,657 57,794 5,328,657
Consumer and other 1,091,010 17,715 4,102 430 1,113,257
Total loans receivable $11,834,323 $467,122 $239,997 $516,280 $13,057,722
The decrease in delinquent loans was due to both improving credit trends and the additional charge-offs
recorded as a result of the completion of the evaluation of certain programs and practices that were designed in
accordance with guidance from the Company’s former regulator, the OTS. This evaluation was initiated in
connection with the Company’s transition from the OTS to the OCC, its new primary banking regulator. As a
result of the evaluation, loan modification policies and procedures were aligned with the guidance from the OCC.
The review resulted in a significant increase in charge-offs during the first quarter of 2012, which also decreased
the loans receivable balance.
Nonperforming Loans
The Company classifies loans as nonperforming when they are no longer accruing interest. Nonaccrual
loans include loans that are 90 days and greater past due, TDRs that are on nonaccrual status for all classes of
loans and certain junior liens that have a delinquent senior lien. As of December 31, 2012, the Company had
nonaccrual loans of $639.1 million, $247.5 million and $6.4 million for one- to four-family, home equity and
consumer and other loans, respectively. As of December 31, 2011, the Company had nonaccrual loans of
$930.2 million, $281.4 million and $4.5 million for one- to four-family, home equity and consumer and other
loans, respectively.
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