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E*TRADE Financial Corporation Reports Monthly Activity For November 2013; Provides Updates To Its Loan Delinquencies

E*TRADE Financial Corporation (NASDAQ: ETFC) today released its Monthly Activity Report for November 2013.

Daily Average Revenue Trades (“DARTs”) for November were 163,411, a two percent increase from October and a 26 percent increase from the year-ago period. The Company added 29,355 gross new brokerage accounts in November, ending the month with approximately 3.0 million brokerage accounts – an increase of 11,907 from October.

Net new brokerage assets were $1.3 billion in the month. During the month, customer security holdings increased by three percent, or $5.2 billion, and brokerage-related cash increased by $0.7 billion to $39.3 billion. Bank-related cash and deposits ended the month unchanged, at $6.4 billion. Customers were net buyers of approximately $0.3 billion in securities during the month.

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) decreased one percent from September 30, 2013 to November 30, 2013 and decreased seven percent from October 31, 2013 to November 30, 2013, while total “at risk” delinquencies (30 to 179 days delinquent) decreased one percent from September 30, 2013 to November 30, 2013 and decreased five percent from October 31, 2013 to November 30, 2013. Additional loan delinquency data is provided in the second table of this release.

Monthly Activity Data

                   
 
Nov-13 Oct-13 Nov-12 % Chg. M/M % Chg. Y/Y
 
 
Trading days 19.5 23.0 20.5 N.M. N.M.
 
DARTs 163,411 159,703 130,202 2.3 % 25.5 %
 
Gross new brokerage accounts 29,355 30,276 26,312 (3.0 )% 11.6 %
Gross new stock plan accounts 27,740 19,324 27,360 43.6 % 1.4 %
Gross new banking accounts   773     735     782   5.2 % (1.2 )%
Total gross new accounts 57,868 50,335 54,454 15.0 % 6.3 %
 
Net new brokerage accounts 11,907 3,193 7,361 N.M. N.M.
Net new stock plan accounts 11,388 (2,836 ) 16,423 N.M. N.M.
Net new banking accounts   (3,031 )   (3,274 )   (2,315 ) N.M. N.M.
Net new accounts 20,264 (2,917 ) 21,469 N.M. N.M.
 
End of period brokerage accounts 2,990,942 2,979,035 2,895,060 0.4 % 3.3 %
End of period stock plan accounts 1,213,244 1,201,856 1,137,514 0.9 % 6.7 %
End of period banking accounts   400,115     403,146     431,961   (0.8 )% (7.4 )%
End of period total accounts 4,604,301 4,584,037 4,464,535 0.4 % 3.1 %
 

Customer Assets ($B)

Security holdings $ 174.4 $ 169.2 $ 139.9 3.1 % 24.7 %
Customer payables (cash) 6.3 6.1 5.6 3.3 % 12.5 %
Customer assets held by third parties (1) 13.5 13.1 6.0 3.1 % 125.0 %
Unexercised stock plan customer options (vested)   34.4     33.6     22.1   2.4 % 55.7 %
Customer assets in brokerage and stock plan accounts   228.6     222.0     173.6   3.0 % 31.7 %
Sweep deposits 19.5 19.4 20.3 0.5 % (3.9 )%
Savings, transaction and other   6.4     6.4     7.1   0.0 % (9.9 )%
Customer assets in banking accounts   25.9     25.8     27.4   0.4 % (5.5 )%
Total customer assets $ 254.5 $ 247.8 $ 201.0 2.7 % 26.6 %
 
Net new brokerage assets ($B) (2) $ 1.3 $ 1.0 $ 0.8 N.M. N.M.
Net new banking assets ($B) (2)   0.0     (0.1 )   (0.0 ) N.M. N.M.
Net new customer assets ($B) (2) $ 1.3 $ 0.9 $ 0.8 N.M. N.M.
 
Brokerage related cash ($B) $ 39.3 $ 38.6 $ 31.9 1.8 % 23.2 %
Other customer cash and deposits ($B)   6.4     6.4     7.1   0.0 % (9.9 )%
Total customer cash and deposits ($B) $ 45.7 $ 45.0 $ 39.0 1.6 % 17.2 %
 
Customer net purchase activity ($B) $ (0.3 ) $ (0.7 ) $ (0.3 ) N.M. N.M.

(1) Customer assets 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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