eTrade 2005 Annual Report Download - page 189

Table of Contents
The Bank’s required actual capital amounts and ratios are presented in the table below (dollars in thousands):
Actual
Required for Capital
Adequacy Purposes
Required to be Well
CapitalizedUnder
Prompt Corrective
Action Provisions
Amount
Ratio
Amount
Ratio
Amount
Ratio
At December31, 2005:
Total Capital to risk-weighted
assets
$
2,021,091
10.94
%
>$1,478,238
>8.0
%
>$
1,847,797
>10.0
%
Tier I Capital to risk-weighted
assets
$
1,957,805
10.60
%
>$
739,119
>4.0
%
>$
1,108,678
>6.0
%
Tier I Capital to adjusted total
assets
$
1,957,805
5.92
%
>$1,322,343
>4.0
%
>$
1,652,929
>5.0
%
At December31, 2004:
Total Capital to risk-weighted
assets
$
1,533,934
11.09
%
>$1,106,778
>8.0
%
>$
1,383,472
>10.0
%
Tier I Capital to risk-weighted
assets
$
1,486,422
10.74
%
>$ 553,389
>4.0
%
>$
830,083
>6.0
%
Tier I Capital to adjusted total
assets
$
1,486,422
5.83
%
>$1,019,659
>4.0
%
>$
1,274,574
>5.0
%
The Bank is also required by OTS regulations to maintain tangible capital of at least 1.50% of tangible assets. The Bank satisfied this
requirement at both December31, 2005 and 2004.
The Bank is subject to certain restrictions on the amount of dividends it may declare without prior regulatory approval. At
December31, 2005, the Bank has approximately $192.5 million of capital available for dividend declaration without regulatory approval
while still maintaining a “well capitalized” status.
NOTE 23—LEASE ARRANGEMENTS
The Company has non-cancelable operating leases for facilities through 2016. Future minimum rental commitments under these leases
are as follows (in thousands):
Years ending December31:
2006
$
27,503
2007
26,872
2008
25,374
2009
22,397
2010
19,753
Thereafter
27,596
Total future minimum lease payments
$
149,495
Certain leases contain provisions for renewal options and rent escalations based on increases in certain costs incurred by the lessor.
Rent expense was $22.2 million for 2005, $23.9 million for 2004 and $31.4 million for 2003.
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2006. EDGAR Online, Inc.