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Non-Tech : NetBank(NTBK)-formerly Atlanta Internet Bank -- Ignore unavailable to you. Want to Upgrade?

To: EenieMeenie who wrote (2091)	7/14/1999 10:29:00 AM
From: VALUESPEC	Respond to of 2414

<<Netbank is paying dearly for its deposit growth. They would be better of going out and borrowing the funds in the open market---at least in the short-term.>> Coult you elaborate on your statement? I don't understand. NTBK's cost of a new account is well under $100. It cost AMTD about $157 to pick up an account, and E*Trade about $250. Of course, they are both internet stockbrokers (well, AMTD just bought TeleBanc so that is no longer true), so the comparison is not exact, but that gives one the idea of what it cost to pick up an account using the internet. NTBK's strategy is to grow, and to grow profitably. NTBK: ~ $34 ~35,000 accounts as of June 1, 1999 VALUESPEC