eTrade 2009 Annual Report Download - page 143
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NOTE 12—DEPOSITS
Deposits are summarized as follows (dollars in thousands):
Weighted-Average
Rate Amount
Percentage
to Total
December 31, December 31, December 31,
2009 2008 2009 2008 2009 2008
Sweep deposit accounts(1) 0.07% 0.07% $12,551,497 $ 9,650,431 49.0% 36.9%
Complete savings accounts 0.50% 2.97% 9,704,045 11,298,553 37.9 43.2
Certificates of deposit 1.69% 3.37% 1,215,780 2,363,385 4.8 9.0
Other money market and savings accounts 0.29% 0.86% 1,183,392 1,394,176 4.6 5.4
Checking accounts 0.19% 1.06% 813,663 991,477 3.2 3.8
Brokered certificates of deposit 4.51% 4.48% 129,344 438,224 0.5 1.7
Total deposits 0.35% 1.77% $25,597,721 $26,136,246 100.0% 100.0%
(1) A sweep product transfers brokerage customer balances to banking subsidiaries, which hold these funds as customer deposits in FDIC-
insured demand deposits and money market deposit accounts.
Deposits, classified by rates are as follows (dollars in thousands):
December 31,
2009 2008
Less than 2.00% $25,108,277 $12,177,178
2.00%–3.99% 123,831 13,067,930
4.00%–5.99% 365,508 889,446
6.00% and above 105 1,659
Subtotal 25,597,721 26,136,213
Fair value adjustments — 33
Total deposits $25,597,721 $26,136,246
At December 31, 2009, 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 2.00% $676,985 $146,251 $18,737 $ 1,560 $6,744 $ 6,118 $ 856,395
2.00%–3.99% 46,428 60,888 3,054 11,904 2,037 — 124,311
4.00%–5.99% 105,119 131,575 70,762 16,486 625 41,855 366,422
6.00% and above 82 20 3 — — — 105
Subtotal $828,614 $338,734 $92,556 $29,950 $9,406 $47,973 1,347,233
Unamortized discount, net (2,109)
Total certificates of deposit and brokered certificates of deposit $1,345,124
140