NetBank Numbers and Metrics (NetBanker)

NetBank is one of the most interesting companies to follow. As the only publicly traded pure Net-only bank, it provides a rare glimpse of what’s really happening. However, since the company does not report the number of customers, only the number of accounts, it’s difficult to calculate a true customer acquisition cost. For instance, how may of the 16,000 accounts added in Q1 were from net new customers or were from existing customers adding an additional CD account?

Table 1

NetBank Metrics

millions of dollars and thousands of accounts

Metric	1998				1999				2000
Metric	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1
Accounts	8.4	12	15	17	25	39	50	66	82
Deposits	$129	187	241	283	333	415	486	653	725
Net int. income	$0.9	1.5	2.1	2.2	3.0	4.7	7.4	8.2	8.9
Web traffic	ina	ina	ina	ina	ina	ina	262	710	515
Growth
Accounts	n/a	3.5	2.8	2.8	7.2	14.4	11.0	16.0	16.0
Deposits	n/a	$58	54	42	50	82	71	167	72
Net int. income	n/a	$0.6	0.5	0.1	0.8	1.7	2.7	0.8	0.7
Web traffic	ina	ina	ina	ina	ina	ina	ina	448	(195)
Growth %
Accounts	n/a	40%	24%	19%	42%	58%	28%	32%	24%
Deposits	n/a	45%	29%	17%	18%	25%	17%	34%	11%
Net int. income	n/a	70%	34%	5%	39%	56%	58%	11%	9%
Web traffic	ina	ina	ina	ina	ina	ina	ina	71%	(28%)

Source: Company reports compiled by Ian Leff, www.kickassbanks.com/8qg.htm Web traffic from PC Data Online
Web traffic is the average number of unique monthly users during the quarter

Table 2

NetBank Deposit Growth by Type

millions of dollars

Type	1998	1999
Type	Q4	Q1	Q2	Q3	Q4	% Tot	% Chg vs. ‘98
Checking	$15	$20	$23	$30	$42	6%	180%
non-interest¹	9	10	7	4	4	0%	(56%)
interest	6	9	15	26	39	6%	550%
Money market	65	98	153	198	220	34%	240%
CD <$ 100k	197	199	216	233	351	54%	78%
CD >$100k	6	16	24	25	41	6%	580%
Total	$284	$333	$415	$486	$654	100%	130%

Source: Ian Leff, www.kickassbanks.com/8qg.htm ¹Discontinued

NetBank Numbers and Metrics

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