Charles Schwab 2008 Annual Report Download - page 108

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THE CHARLES SCHWAB CORPORATION
Supplemental Financial Data for Charles Schwab Bank (Unaudited)
(Dollars in Millions)
The following supplemental financial data is presented in accordance with the Securities Exchange Act of 1934, Industry
Guide 3 – Statistical Disclosure by Savings and Loan Holding Companies. The accompanying unaudited financial
information represents Charles Schwab Bank (Schwab Bank), which is a subsidiary of The Charles Schwab Corporation.
Schwab Bank is a federal savings bank which commenced operations in 2003.
1. Three-year Net Interest Revenue and Average Balances
For the Year Ended December 31, 2008 2007 2006
Average
Balance Interest
Average
Rate
Average
Balance Interest
Average
Rate
Average
Balance Interest
Average
Rate
Assets:
Cash due from banks 1,007$ 11$ 1.13% 66$ 3$ 5.46% 74$ 4$ 5.35%
Short term investments 2,283 69 3.04% 1,862 99 5.32% 685 36 5.22%
Federal funds sold 657 15 2.34% 595 31 5.14% 412 21 5.04%
Resale agreements - - - - - - 209 6 2.70%
Securities available for sale (1) 11,772 517 4.39% 7,335 399 5.44% 6,125 319 5.21%
Securities held to maturity 22 1 5.86% - - - - - -
Loans to banking clients (2) 4,829 227 4.70% 2,786 169 6.07% 2,157 128 5.93%
Other interest-earning assets 95 6 5.70% 78 5 6.16% 63 2 5.33%
Total interest-earning assets 20,665 846 4.10% 12,722 706 5.55% 9,725 516 5.31%
Non-interest-earning assets 211 132 53
Total Assets 20,876$ 12,854$ 9,778$
Liabilities and Stockholder's Equity:
Interest-bearing banking deposits 19,203$ 104 0.54% 12,046$ 238 1.98% 9,135$ 200 2.19%
Total sources on which interest is paid 19,203 104 0.54% 12,046 238 1.98% 9,135 200 2.19%
Non-interest-bearing liabilities 779 134 104
Stockholder's equity 894 674 539
Total Liabilities and Stockholder's Equity 20,876$ 12,854$ 9,778$
Net interest revenue 742 468 316
Net free funds 1,462$ 676$ 590$
Provision for credit loss (17) (3) (1)
725$ 465$ 315$
Net yield on interest-earning assets 3.59% 3.68% 3.25%
(1) Amounts have been calculated based on amortized cost.
(2) Includes average principal balances of non-accrual loans.
F-3