Before the market opened this morning, online brokerage house Charles Schwab
Consumer confidence is low
While more of a traditional bank than rival TD AMERITRADE
With E*TRADE Financial
More than a brokerage house
Surprisingly, Schwab saw some growth in the traditional banking side of its business. Total banking assets grew to $66.1 billion, accounting for 61% of total assets. Total mortgage and home equity loans equal $9.1 billion, and the bank originated $951 million of first mortgages during the fourth quarter. Also included in banking assets were over 593,000 high-yielding checking accounts with over $10.8 billion in balances. While these numbers pale in comparison to traditional banks, it provides some alternative revenue streams for the business going forward.
What it means to you
While not as dependent on the investing habits of its customers as much as TD AMERITRADE or E*TRADE, Schwab's earnings can be an small hint of how individual investors feel about the stock market as a whole. Add these companies to My Watchlist to keep an eye on some microeconomic indicators.
Fool contributor Robert Eberhard holds no position in any company mentioned. Follow him on Twitter @GuruEbby. Motley Fool newsletter services have recommended buying shares of TD Ameritrade Holding and Charles Schwab. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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