E*TRADE Bank (merged into Morgan Stanley Private Bank)
E*TRADE Bank reported total assets of $79.1 bn at Q4 2021, its last Call Report before it merged into Morgan Stanley Private Bank. The CET1 capital ratio at E*TRADE Bank was 50.28%, and the uninsured share of E*TRADE Bank was 17.51%. Source: FDIC Call Reports.
Key takeaways
- Since , E*TRADE Bank has taken over one institution; the latest was E*TRADE Savings Bank on (FDIC Call Reports).
What sets E*TRADE Bank apart
How large is E*TRADE Bank?
The balance sheet of E*TRADE Bank at : assets $79.1 bn, deposits $72.1 bn, net loans $25.9 bn (loans equal to 35.93% of deposits). Securities make up 60.3% of total assets at E*TRADE Bank. Since , when E*TRADE Bank held $35.7 bn, its assets grew 121.5%. In the year to , deposits at E*TRADE Bank rose 31.7% while its total assets rose 26.1%. At , E*TRADE Bank employed 9 full-time equivalent staff across 1 office, about $8.8 bn of assets per employee and $72.1 bn of deposits per office.
How much funding at E*TRADE Bank is uninsured?
At E*TRADE Bank, uninsured deposits (above the FDIC limit) made up 17.51% of domestic deposits at (-1.51 pp on a year earlier). In dollars, E*TRADE Bank estimated $12.6 bn of uninsured deposits.
Key facts, Q4 2021
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $72.1 bn | $54.7 bn (Q4 2020) | |
| Net loans and leases | $25.9 bn | $1.7 bn (Q4 2020) | |
| Loan-to-deposit ratio | 35.93% | 3.10% (Q4 2020) | |
| Tier 1 leverage ratio | 8.00% | 7.61% (Q4 2020) | |
| Total risk-based capital ratio | 50.28% | 41.76% (Q4 2020) | |
| Net interest margin | 1.08% | 0.28% (Q4 2020) | |
| Return on assets (ROA) | 0.24% | 0.05% (Q4 2020) | |
| Efficiency ratio | 70.28% | 84.04% (Q4 2020) | |
| Unrealized gain/loss on held-to-maturity securities | Loss of $888.8 mn | Turned from a gain into a loss | |
| Unrealized gain/loss on available-for-sale securities | Loss of $76.1 mn | Turned from a gain into a loss | |
| Noncurrent loans to total loans | 0.00% | 17.69% (Q4 2020) | |
| Net charge-offs to average loans | 0.00% | 0.01% (Q4 2020) |
US rank of E*TRADE Bank: 1 = highest unless marked 1 = lowest.
Balance sheet
E*TRADE Bank: assets, deposits and loans
- Total assets $79.1bn
- Deposits $72.1bn
- Net loans $25.9bn
Capital and securities
The CET1 ratio of E*TRADE Bank stood at 50.28% in , +8.52 pp year on year. Low and high at E*TRADE Bank since : 33.30% () to 53.81% (). Equity capital of E*TRADE Bank at : $6.9 bn, or 8.7% of total assets. E*TRADE Bank also reported a total capital ratio of 50.28% for , and a tier 1 leverage ratio of 8.00%.
On held-to-maturity securities, E*TRADE Bank carried an unrealized loss of $888.8 mn at , equal to 12.9% of equity capital. The loss turned from a gain into a loss over the year. Its deepest point: $912.8 mn in . The available-for-sale portfolio of E*TRADE Bank showed an unrealized loss of $76.1 mn at ; the loss turned from a gain into a loss over the year.
E*TRADE Bank: capital ratios
- Total capital 50%
- CET1 50%
- Tier 1 leverage 8.0%
E*TRADE Bank: unrealized securities gains and losses
- Available for sale -$76mn
- Held to maturity -$889mn
Profitability and loan quality
For the year to , E*TRADE Bank earned a return on equity of 2.75%; return on assets: 0.24%. Net interest margin at E*TRADE Bank: 1.08%, +0.80 pp in a year. E*TRADE Bank net income: $178.3 mn, up 578.4% year on year. The efficiency ratio of E*TRADE Bank was 70.28%: about 70 cents cost per revenue dollar, against 59 cents at the median peer.
At , noncurrent loans were 0.00% of total loans at E*TRADE Bank; net charge-offs: 0.00% of average loans. Gross loans and leases at E*TRADE Bank: $25.9 bn at , against $1.7 bn at .
E*TRADE Bank: profitability
- Return on equity 2.8%
- Net interest margin 1.1%
- Return on assets 0.2%
Peer group of E*TRADE Bank
The peer group of E*TRADE Bank is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 1 shares the charter type of E*TRADE Bank (federal savings bank) and 0 have head offices in Virginia. Against them, E*TRADE Bank shows CET1 ratio 50.28% against a peer median of 12.61%, return on equity 2.75% against a peer median of 15.50% and uninsured deposit share 17.51% against a peer median of 55.73%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| Zions Bancorporation | National bank | UT | $93.2 bn | 10.18% | 14.44% | 58.98% | |
| First Horizon Bank | State member bank | TN | $88.8 bn | 10.75% | 12.96% | 52.55% | |
| Synchrony Bank | Federal savings bank | UT | $86.1 bn | 16.94% | 35.21% | 11.87% | |
| E*TRADE Bank | Federal savings bank | VA | $79.1 bn | 50.28% | 2.75% | 17.51% | |
| People's United Bank | National bank | CT | $64.5 bn | 12.93% | 8.22% | 48.07% | |
| Banco Popular de Puerto Rico | State member bank | PR | $64.2 bn | 17.64% | 19.31% | 58.92% | |
| East West Bank | State member bank | CA | $60.8 bn | 12.28% | 16.56% | 67.03% | |
. FDIC Call Reports.
Last eight quarters
Two years at E*TRADE Bank, to : assets $50.3 bn to $79.1 bn, deposits $42.6 bn to $72.1 bn, equity $3.5 bn to $6.9 bn. Staff 124 to 9.
| Metric | Q1 2020 | Q2 2020 | Q3 2020 | Q4 2020 | Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $50.3 bn | $50.9 bn | $51.6 bn | $62.8 bn | $79.8 bn | $77.9 bn | $77.7 bn | $79.1 bn |
| Total deposits | $42.6 bn | $44.1 bn | $45.6 bn | $54.7 bn | $72.6 bn | $70.6 bn | $70.4 bn | $72.1 bn |
| Bank equity capital | $3.5 bn | $3.8 bn | $3.9 bn | $4.8 bn | $6.9 bn | $7.0 bn | $6.9 bn | $6.9 bn |
| CET1 ratio | 35.80% | 34.94% | 36.34% | 41.76% | 51.61% | 53.10% | 53.81% | 50.28% |
| Return on equity (ROE) | 11.05% | 11.20% | 11.05% | 0.67% | 9.27% | 5.63% | 3.46% | 2.75% |
| Uninsured share of domestic deposits | 16.07% | 16.91% | 19.05% | 19.02% | 15.80% | 15.53% | 16.65% | 17.51% |
| Full-time equivalent employees | 124 | 121 | 122 | 122 | 114 | 107 | 7 | 9 |
| Number of offices | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of E*TRADE Bank, oldest first; figures before and after each event are not like for like.
- . Absorbed E*TRADE Savings Bank (FDIC certificate 58119).
- . Merged into Morgan Stanley Private Bank, National Association (FDIC certificate 34221).
Large one-quarter moves at E*TRADE Bank
- Total assets at E*TRADE Bank changed by +27.1% in the quarter to 2021-03-31, with no FDIC structure event in that quarter.
Questions and identifiers
What were the total assets of E*TRADE Bank?
E*TRADE Bank reported $79.1 bn at in its Call Report.
Is E*TRADE Bank the same as its holding company?
No. This page covers E*TRADE Bank, FDIC certificate 30746; MORGAN STANLEY (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is E*TRADE Bank profitable?
E*TRADE Bank reported net income of $178.3 mn for the year to ; annualized return on equity: 2.75%. So yes: E*TRADE Bank made a profit over these months.
When is data for E*TRADE Bank next updated?
E*TRADE Bank no longer files Call Reports; its data ends at .
Where can I check the figures for E*TRADE Bank?
In the FDIC BankFind Suite record for certificate 30746, and in the Call Reports of E*TRADE Bank (RSSD ID 370271) at the FFIEC Central Data Repository.