eTrade 2010 Annual Report Download - page 88

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The following table sets forth information regarding the weighted-average interest rates and the highest and
average month-end balances of our borrowings (dollars in millions):
Ending
Balance
Weighted-
Average
Rate(1)
Maximum
Amount at
Month-End
Yearly Weighted-Average
Balance Rate
At or for the year ended December 31, 2010:
Securities sold under agreements to
repurchase $5,888.3 0.63% $6,458.1 $6,154.3 2.11%
FHLB advances and other borrowings(2) $2,731.4 3.09% $3,102.1 $2,754.3 4.33%
At or for the year ended December 31, 2009:
Securities sold under agreements to
repurchase $6,441.9 0.71% $7,177.9 $6,725.4 2.98%
FHLB advances and other borrowings(2) $2,745.3 3.12% $4,372.4 $3,392.0 4.38%
At or for the year ended December 31, 2008:
Securities sold under agreements to
repurchase $7,381.3 2.99% $7,702.6 $7,284.0 4.00%
FHLB advances and other borrowings(2) $4,350.4 4.13% $6,982.2 $5,120.3 4.80%
(1) Excludes hedging costs.
(2) Excludes other borrowings of the parent company of $0.3 million, $1.6 million and $3.4 million at December 31, 2010, 2009 and 2008,
respectively, which do not generate operating interest expense. These liabilities generate corporate interest expense.
GLOSSARY OF TERMS
Active accounts—Accounts with a balance of $25 or more or a trade in the last six months.
Active customers—Customers that have an account with a balance of $25 or more or a trade in the last six
months.
Active Trader—The customer group that includes those who execute 30 or more stock or option trades per
quarter.
Adjusted total assets—E*TRADE Bank-only assets composed of total assets plus/(less) unrealized losses
(gains) on available-for-sale securities, less deferred tax assets, goodwill and certain other intangible assets.
Agency—U.S. Government sponsored and federal agencies, such as Federal National Mortgage Association,
Federal Home Loan Mortgage Corporate and Government National Mortgage Association.
ALCO—Asset Liability Committee.
AML—Anti-Money Laundering.
APIC—Additional paid-in capital.
ARM—Adjustable-rate mortgage.
At the Market Common Stock Offering—In the third quarter of 2009, the Company raised $150 million in
gross proceeds ($147 million in net proceeds) from a common stock offering in which a total of 8 million (as
adjusted for the reverse stock split) shares of common stock were issued.
Average commission per trade—Total trading and investing segment commissions revenue divided by total
number of trades.
Average equity to average total assets—Average total shareholders’ equity divided by average total assets.
85