E*TRADE Savings Bank (merged into E*TRADE Bank)
E*TRADE Savings Bank reported total assets of $9.8 bn at Q4 2021, its last Call Report before it merged into E*TRADE Bank. The CET1 capital ratio at E*TRADE Savings Bank was 104.61%, and the uninsured share of E*TRADE Savings Bank was 3.08%. Source: FDIC Call Reports.
Key takeaways
- Since , E*TRADE Savings Bank has taken over one institution; the latest was Trust Company of America on (FDIC Call Reports).
What sets E*TRADE Savings Bank apart
How large is E*TRADE Savings Bank?
The balance sheet of E*TRADE Savings Bank at : assets $9.8 bn, deposits $7.9 bn, net loans $1.7 bn (loans equal to 21.09% of deposits). Securities make up 63.7% of total assets at E*TRADE Savings Bank. Since , when E*TRADE Savings Bank held $1.8 bn, its assets grew 435.3%. In the year to , deposits at E*TRADE Savings Bank rose 47.9% while its total assets rose 36.1%. At , E*TRADE Savings Bank employed 4 full-time equivalent staff across 2 offices, about $2.4 bn of assets per employee and $3.9 bn of deposits per office.
How much funding at E*TRADE Savings Bank is uninsured?
At E*TRADE Savings Bank, uninsured deposits (above the FDIC limit) made up 3.08% of domestic deposits at (-1.35 pp on a year earlier). In dollars, E*TRADE Savings Bank estimated $242.8 mn of uninsured deposits.
Key facts, Q4 2021
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $7.9 bn | $5.3 bn (Q4 2020) | |
| Net loans and leases | $1.7 bn | $661.6 mn (Q4 2020) | |
| Loan-to-deposit ratio | 21.09% | 12.42% (Q4 2020) | |
| Tier 1 leverage ratio | 17.02% | 25.51% (Q4 2020) | |
| Total risk-based capital ratio | 104.61% | 93.18% (Q4 2020) | |
| Net interest margin | 1.58% | 0.31% (Q4 2020) | |
| Return on assets (ROA) | 0.09% | -0.15% (Q4 2020) | |
| Efficiency ratio | 80.45% | 133.16% (Q4 2020) | |
| Unrealized gain/loss on held-to-maturity securities | Loss of $160.6 mn | Turned from a gain into a loss | |
| Unrealized gain/loss on available-for-sale securities | Loss of $492,000 | Turned from a gain into a loss | |
| Noncurrent loans to total loans | 0.00% | 0.00% (Q4 2020) | |
| Net charge-offs to average loans | 0.00% | 0.00% (Q4 2020) |
US rank of E*TRADE Savings Bank: 1 = highest unless marked 1 = lowest.
Balance sheet
E*TRADE Savings Bank: assets, deposits and loans
- Total assets $9.8bn
- Deposits $7.9bn
- Net loans $1.7bn
Capital and securities
The CET1 ratio of E*TRADE Savings Bank stood at 104.61% in , +11.43 pp year on year. Low and high at E*TRADE Savings Bank since : 57.71% () to 233.06% (). Equity capital of E*TRADE Savings Bank at : $1.9 bn, or 19.0% of total assets. E*TRADE Savings Bank also reported a total capital ratio of 104.61% for , and a tier 1 leverage ratio of 17.02%.
On held-to-maturity securities, E*TRADE Savings Bank carried an unrealized loss of $160.6 mn at , equal to 8.6% of equity capital. The loss turned from a gain into a loss over the year. The available-for-sale portfolio of E*TRADE Savings Bank showed an unrealized loss of $492,000 at ; the loss turned from a gain into a loss over the year.
E*TRADE Savings Bank: capital ratios
- Total capital 105%
- CET1 105%
- Tier 1 leverage 17%
E*TRADE Savings Bank: unrealized securities gains and losses
- Available for sale -$492,000
- Held to maturity -$161mn
Profitability and loan quality
For the year to , E*TRADE Savings Bank earned a return on equity of 0.43%; return on assets: 0.09%. Net interest margin at E*TRADE Savings Bank: 1.58%, +1.27 pp in a year. E*TRADE Savings Bank net income: $8.0 mn, down 203.9% year on year. The efficiency ratio of E*TRADE Savings Bank was 80.45%: about 80 cents cost per revenue dollar, against 52 cents at the median peer.
At , noncurrent loans were 0.00% of total loans at E*TRADE Savings Bank; net charge-offs: 0.00% of average loans. Gross loans and leases at E*TRADE Savings Bank: $1.7 bn at , against $661.6 mn at .
E*TRADE Savings Bank: profitability
- Return on equity 0.4%
- Net interest margin 1.6%
- Return on assets 0.1%
Peer group of E*TRADE Savings Bank
The peer group of E*TRADE Savings Bank is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 0 share the charter type of E*TRADE Savings Bank (federal savings bank) and 0 have head offices in Virginia. Against them, E*TRADE Savings Bank shows CET1 ratio 104.61% against a peer median of 12.27%, return on equity 0.43% against a peer median of 13.79% and uninsured deposit share 3.08% against a peer median of 30.10%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| First Foundation Bank | State nonmember bank | CA | $10.2 bn | 11.45% | 13.50% | 22.27% | |
| Oriental Bank | State nonmember bank | PR | $9.8 bn | 13.09% | 14.09% | 37.92% | |
| Comenity Bank | State nonmember bank | DE | $9.8 bn | 21.35% | 33.62% | 0.05% | |
| E*TRADE Savings Bank | Federal savings bank | VA | $9.8 bn | 104.61% | 0.43% | 3.08% | |
| Veritex Community Bank | State member bank | TX | $9.8 bn | 10.48% | 10.66% | 51.69% | |
| Bell Bank | State nonmember bank | ND | $9.7 bn | 11.34% | 31.24% | 18.03% | |
| Seacoast National Bank | National bank | FL | $9.7 bn | 15.86% | 10.52% | 39.27% | |
. FDIC Call Reports.
Last eight quarters
Two years at E*TRADE Savings Bank, to : assets $4.5 bn to $9.8 bn, deposits $2.8 bn to $7.9 bn, equity $1.8 bn to $1.9 bn. Staff 109 to 4.
| Metric | Q1 2020 | Q2 2020 | Q3 2020 | Q4 2020 | Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $4.5 bn | $4.8 bn | $4.8 bn | $7.2 bn | $10.0 bn | $9.8 bn | $9.8 bn | $9.8 bn |
| Total deposits | $2.8 bn | $2.9 bn | $3.0 bn | $5.3 bn | $8.1 bn | $8.0 bn | $8.0 bn | $7.9 bn |
| Bank equity capital | $1.8 bn | $1.8 bn | $1.8 bn | $1.9 bn | $1.8 bn | $1.9 bn | $1.9 bn | $1.9 bn |
| CET1 ratio | 200.38% | 123.37% | 146.24% | 93.18% | 109.30% | 113.41% | 99.76% | 104.61% |
| Return on equity (ROE) | 2.11% | 2.74% | 1.74% | -0.43% | -1.44% | -0.26% | -0.10% | 0.43% |
| Uninsured share of domestic deposits | 8.79% | 8.94% | 7.13% | 4.43% | 3.28% | 3.50% | 3.29% | 3.08% |
| Full-time equivalent employees | 109 | 106 | 107 | 107 | 103 | 100 | 6 | 4 |
| Number of offices | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of E*TRADE Savings Bank, oldest first; figures before and after each event are not like for like.
- . Absorbed Trust Company of America (FDIC certificate 33639).
- . Merged into E*TRADE Bank (FDIC certificate 30746).
Large one-quarter moves at E*TRADE Savings Bank
- Total assets at E*TRADE Savings Bank changed by +45.6% in the quarter to 2017-09-30, with no FDIC structure event in that quarter.
- Total assets at E*TRADE Savings Bank changed by +52.7% in the quarter to 2017-12-31, with no FDIC structure event in that quarter.
- Total assets at E*TRADE Savings Bank changed by +32.1% in the quarter to 2018-03-31, with no FDIC structure event in that quarter.
- Total assets at E*TRADE Savings Bank changed by -34.1% in the quarter to 2019-06-30, with no FDIC structure event in that quarter.
- Total assets at E*TRADE Savings Bank changed by +49.3% in the quarter to 2020-12-31, with no FDIC structure event in that quarter.
- Total assets at E*TRADE Savings Bank changed by +39.1% 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 Savings Bank?
E*TRADE Savings Bank reported $9.8 bn at in its Call Report.
Is E*TRADE Savings Bank the same as its holding company?
No. This page covers E*TRADE Savings Bank, FDIC certificate 58119; MORGAN STANLEY (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is E*TRADE Savings Bank profitable?
E*TRADE Savings Bank reported net income of $8.0 mn for the year to ; annualized return on equity: 0.43%. So yes: E*TRADE Savings Bank made a profit over these months.
When is data for E*TRADE Savings Bank next updated?
E*TRADE Savings Bank no longer files Call Reports; its data ends at .
Where can I check the figures for E*TRADE Savings Bank?
In the FDIC BankFind Suite record for certificate 58119, and in the Call Reports of E*TRADE Savings Bank (RSSD ID 3441677) at the FFIEC Central Data Repository.