eTrade 2003 Annual Report Download - page 14

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Table of Contents
Index to Financial Statements
Lending Activities
The following table presents the balance and associated percentage of each major loan category in our portfolio (dollars in thousands):
7
December 31,
September 30,
2003
2002
2001
2000
1999
Real estate loans:
One-to four-family:
Fixed-rate
$
1,345,369
14.97
%
$
1,877,265
26.05
%
$
3,672,512
45.95
%
$
1,583,129
37.45
%
$
1,391,254
63.69
%
Adjustable-rate
1,910,161
21.26
1,502,224
20.86
2,645,952
33.11
2,635,955
62.36
785,821
35.98
Home equity lines of credit and
second mortgage
1,511,767
16.83
354,768
4.93
23,059
0.29
4,042
0.10
1,024
0.05
Multi-family
97
—
106
—
183
—
203
0.01
1,330
0.06
Commercial
12,279
0.14
13,397
0.19
1,981
0.03
2,717
0.06
3,050
0.14
Mixed-use and land
72
—
121
—
635
0.01
503
0.01
1,224
0.05
Total real estate loans(1)(2)
4,779,745
53.20
3,747,881
52.03
6,344,322
79.39
4,226,549
99.99
2,183,703
99.97
Consumer and other loans:
Recreational vehicle
2,285,451
25.43
1,366,876
18.98
198,643
2.49
—
—
—
—
Automobile
1,162,339
12.94
1,481,695
20.57
1,436,407
17.97
224
0.01
430
0.02
Marine
627,975
6.99
453,783
6.30
—
—
—
—
—
—
Credit card
113,434
1.26
—
—
—
—
—
—
—
—
Lease financing
2,651
0.03
3,621
0.05
—
—
—
—
—
—
Other
13,567
0.15
149,024
2.07
12,237
0.15
82
—
255
0.01
Total consumer and other loans
4,205,417
46.80
3,454,999
47.97
1,647,287
20.61
306
0.01
685
0.03
Total loans(1)
8,985,162
100.00
%
7,202,880
100.00
%
7,991,609
100.00
%
4,226,855
100.00
%
2,184,388
100.00
%
Add (deduct):
Premiums (discounts) and
deferred fees on loans
184,078
190,506
38,722
(43,171
)
(22,718
)
Allowance for loan losses
(37,847
)
(27,666
)
(19,874
)
(10,930
)
(7,161
)
Total
146,231
162,840
18,848
(54,101
)
(29,879
)
Loans receivable, net(1)(2)
$
9,131,393
$
7,365,720
$
8,010,457
$
4,172,754
$
2,154,509
(1) Includes loans held-for-sale, principally one- to four-family real estate loans. These loans were $1.0 billion at December 31, 2003, $1.8 billion at December 31, 2002, $1.6 billion at
December 31, 2001, $0.1 billion at September 30, 2000 and $0.1 billion at September 30, 1999.
(2) The geographic concentrations of mortgage loans are described in Note 7 to the Consolidated Financial Statements.