| By Jim Bruene on October 31, 2007 2:50 PM | Comments (0) |
First National Bank of Omaha has attracted $1.5 billion in deposits through its Internet subsidiary, FNBO Direct, launched in February (previous coverage here).
The numbers were chronicled in a NY Times article earlier this month (here) about the so-called rate chasers, depositors that move money around online seeking the absolute highest rate, even if it means moving the money many times each year.
Total deposits: $1.5 billion
Total accounts: 36,000
Average per account: $42,000
Number of mega-depositors (with $400,000+): several thousand
Deposits of the mega-depositors: approx $1 billion
Deposit of everyone else: $500 million in 33,000 to 34,000 accounts
Average per "normal" account: $14,000 to $15,000
Now that the 6% APY has dropped to 5.05% (effective Sep. 28), it will be interesting to see how many deposits the bank retains.
Most Recent Posts:
v2.gif)
Leave a comment