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E*TRADE Financial Corporation Reports Monthly Activity For November 2012; Provides Updates To Its Loan Delinquencies

Stocks in this article: ETFC

E*TRADE Financial Corporation (NASDAQ: ETFC) today released its Monthly Activity Report for November 2012.

Daily Average Revenue Trades (“DARTs”) for November were 130,202, a five percent increase from October and an eight percent decrease from the year-ago period. The Company added 26,312 gross new brokerage accounts in November, ending the month with approximately 2.9 million brokerage accounts – an increase of 7,361 from October. Total accounts ended the month at approximately 4.5 million.

Net new brokerage assets were positive $0.8 billion in the month. During the month, customer security holdings increased by one percent, or $1.3 billion, and brokerage-related cash increased by $0.2 billion to $31.9 billion, while customers were net buyers of approximately $0.3 billion in securities. Bank-related cash and deposits ended the month unchanged, at $7.1 billion.

The Company also updated delinquency statistics in its loan portfolio. For the Company’s entire loan portfolio; total special mention delinquencies (30 to 89 days delinquent) increased three percent from September 30, 2012 to November 30, 2012 and decreased two percent from October 31, 2012 to November 30, 2012, while total “at risk” delinquencies (30 to 179 days delinquent) increased two percent from September 30, 2012 to November 30, 2012 and decreased two percent from October 31, 2012 to November 30, 2012. Additional loan delinquency data is provided in the second table of this release.

                       

Monthly Activity Data

Nov-12 Oct-12 Nov-11 % Chg. M/M % Chg. Y/Y
 
 
Trading days 20.5 21.0 20.5 N.M. N.M.
 
DARTs 130,202 124,246 141,361 4.8 % (7.9)%
 
Gross new brokerage accounts 26,312 23,365 24,541 12.6 % 7.2 %
Gross new stock plan accounts 27,360 14,164 11,383 93.2 % 140.4 %
Gross new banking accounts   782   857   1,391 (8.8)% (43.8)%
Total gross new accounts 54,454 38,386 37,315 41.9 % 45.9 %
 
Net new brokerage accounts 7,361 (5,153) 207 N.M. N.M.
Net new stock plan accounts 16,423 2,251 (781) N.M. N.M.
Net new banking accounts   (2,315)   (3,608)   (3,541) N.M. N.M.
Net new accounts 21,469 (6,510) (4,115) N.M. N.M.
 
End of period brokerage accounts 2,895,060 2,887,699 2,772,187 0.3 % 4.4 %
End of period stock plan accounts 1,137,514 1,121,091 1,062,904 1.5 % 7.0 %
End of period banking accounts   431,961   434,276   466,024 (0.5)% (7.3)%
End of period total accounts 4,464,535 4,443,066 4,301,115 0.5 % 3.8 %
 

Customer Assets ($B)

Security holdings $ 139.9 $ 138.6 $ 120.1 0.9 % 16.5 %
Customer payables (cash) 5.6 5.5 5.1 1.8 % 9.8 %
Customer cash balances held by third parties (1) 6.0 5.9 3.3 1.7 % 81.8 %
Unexercised stock plan customer options (vested)   22.1   21.3   19.1 3.8 % 15.7 %
Customer assets in brokerage and stock plan accounts   173.6   171.3   147.6 1.3 % 17.6 %
Sweep deposits 20.3 20.3 17.9 0.0 % 13.4 %
Savings, transaction and other   7.1   7.1   7.8 0.0 % (9.0)%
Customer assets in banking accounts   27.4   27.4   25.7 0.0 % 6.6 %
Total customer assets $ 201.0 $ 198.7 $ 173.3 1.2 % 16.0 %
 
Net new brokerage assets ($B) (2) $ 0.8 $ 0.3 $ 0.6 N.M. N.M.
Net new banking assets ($B) (2)   (0.0)   (0.1)   (0.1) N.M. N.M.
Net new customer assets ($B) (2) $ 0.8 $ 0.2 $ 0.5 N.M. N.M.
 
Brokerage related cash ($B) $ 31.9 $ 31.7 $ 26.3 0.6 % 21.3 %
Other customer cash and deposits ($B)   7.1   7.1   7.8 0.0 % (9.0)%
Total customer cash and deposits ($B) $ 39.0 $ 38.8 $ 34.1 0.5 % 14.4 %
 
Customer net (purchase) / sell activity ($B) $ (0.3) $ (1.3) $ (1.6) N.M. N.M.

(1) Customer cash balances held by third parties are held outside E*TRADE Financial and include money market funds and sweep deposit accounts at unaffiliated financial institutions.

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