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Non-Tech : NetBank(NTBK)-formerly Atlanta Internet Bank
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To: TLindt who wrote (505)5/22/1998 5:43:00 AM
From: AugustWest  Read Replies (3) of 2414
 
>>If you look back to march 9th they released news on 7k customers, 100 mil deposit....deposits are growing faster then customers. Which is ok, bigger account holders means more profits per account.

That's what I was coming up with too. I see the pattern for the 20K accounts, but more importantly, I was noticing the trend towards higher account balances.

In your IR packet, you'll find that on 12/31/97 the average account had $13,863.50. Now with this new release, We have 10K accounts with deposits of 162MM. Comes to an average account balance of $16,200.(Has this already been mentioned?).

I suppose next mile stone will be 15K accounts or 200mm on deposit. If I am calculating correctly, given the current trend(towards higher balances, and the increase in accounts) I can see them reporting 200mm+ on deposit by mid or late July. Should correspond with earnings release.

I hope these aren't unreasonable calculations. I wonder how much advertising they are doing. I heard somewhere that Ameritrate spent 25mm last year for ads. I'm not suggesting that just yet, but a few choice T.V. ads properly placed at stratigic times would likely help the cause. Maybe they should team up with the Rolling Stones for their next tour? Worked for Budwiser, or was that Coors? I can't remember, but I'm drinking more beer.
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