E*TRADE Bank tops $8 billion in assets

E*TRADE Bank tops $8 billion in assets
Tags: Bank / Credit Union
March 6, 2002

ARLINGTON, Va. -- E*TRADE Bank, a wholly-owned subsidiary of E*TRADE Group, Inc. recently crossed the threshold of $8 billion in assets and is now ranked among the top 20 federally chartered savings banks nationwide based on FDIC data.

E*TRADE Bank, which last spring acquired Card Capture Services, Inc., manager of the nation's third largest ATM network, has more than doubled its assets compared to one year ago. It became the first and only pure-play Internet bank to break into the ranks of the top 50 federal savings banks by surpassing $2 billion in assets in January 1999.