eTrade 2007 Annual Report Download - page 121
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Deposits, classified by rates are as follows (dollars in thousands):
December 31,
2007 2006
Less than 1.99% $ 9,665,937 $ 9,401,233
2.00%–3.99% 3,490,918 3,103,313
4.00%–5.99% 12,707,002 11,547,219
6.00% and above 21,640 23,047
Subtotal 25,885,497 24,074,812
Fair value adjustments (742) (3,800)
Total deposits $25,884,755 $24,071,012
At December 31, 2007, scheduled maturities of certificates of deposit and brokered certificates of deposit
were as follows (dollars in thousands):
<1 Year 1-2 Years 2-3 Years 3-4 Years 4-5 Years >5 Years Total
Less than 4.00% $ 220,591 $ 50,622 $ 6,084 $ 34,275 $ 200 $ 12,406 $ 324,178
4.00%–5.99% 3,778,203 297,594 142,402 97,576 68,335 526,461 4,910,571
6.00%–9.99% 1,716 544 158 920 3 18,447 21,788
Subtotal $4,000,510 $348,760 $148,644 $132,771 $68,538 $557,314 5,256,537
Fair value adjustments (742)
Unamortized discount, net (6,896)
Total certificates of deposit and brokered certificates of deposit $5,248,899
Scheduled maturities of certificates of deposit and brokered certificates of deposit with denominations
greater than or equal to $100,000 were as follows (dollars in thousands):
December 31,
2007 2006
Three months or less $ 535,290 $ 721,392
Three through six months 560,121 479,166
Six through twelve months 759,840 287,593
Over twelve months 472,836 458,292
Total certificates of deposit $2,328,087 $1,946,443
Interest expense on deposits is summarized as follows (dollars in thousands):
Year Ended December 31,
2007 2006 2005
Sweep deposit account $102,131 $ 87,714 $ 36,147
Money market and savings accounts 464,084 231,602 89,073
Certificates of deposit 224,649 183,828 88,733
Brokered certificates of deposit 25,402 24,726 15,680
Checking accounts 5,689 3,347 2,679
Total interest expense $821,955 $531,217 $232,312
Accrued interest payable on these deposits, which is included in accounts payable, accrued and other
liabilities, was $15.6 million and $13.3 million at December 31, 2007 and 2006, respectively.
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