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 Schwab Fourth Quarter Net Income of $522 Million Caps Record Year
   Wednesday, January 18, 2017 8:45:02 AM ET

--Total Client Assets Rise 11% to a Record $2.78 Trillion at Year-end

The Charles Schwab Corporation announced today that its net income for the fourth quarter of 2016 was a record $522 million, up 4% from $503 million for the prior quarter, and up 25% from $416 million for the fourth quarter of 2015. Net income for the twelve months ended December 31, 2016 was $1.9 billion, up 31% year-over-year.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170118005364/en/

 
                                                                                                        Three Months Ended                                       Twelve Months Ended              
                                                                                                                              December 31,                                          %                                        December 31,                                                  %
Financial Highlights                                                                           2016          2015       Change       2016          2015               Change
---------------------------------------------------------------------------------------- -------------------- -------------------------------- -------------------------------- ---------------------------- -------------------------------- -------------------------------- -------------------------
                                                                                                                                                                                                       
   Net revenues (in millions)                                                                                  $ 1,972                          $ 1,691                          17 %                         $ 7,478                          $ 6,380                          17 %
   Net income (in millions)                                                                                    $   522                          $   416                          25 %                         $ 1,889                          $ 1,447                          31 %
   Diluted earnings per common share                                                                           $   .36                          $   .28                          29 %                         $  1.31                          $  1.03                          27 %
   Pre-tax profit margin                                                                                          41.8 %                           38.1 %                                                        40.0 %                           35.7 %
                                                                                                                    14 %                             13 %                                                          14 %                             12 %
   Return on average common stockholders’ equity (annualized)
                                                                                                                                                                                                                                                                                    
EPS Impact of Certain Non-Recurring Items
                                                                                                                                                                                                                                                                                    
   Net litigation proceeds (1)                                                                                 $     -                          $   .03                                                       $   .01                          $   .04
   Net tax benefits (2)                                                                                        $     -                          $   .01                                                       $     -                          $   .02
                                                                                                                                                                                                                                                                                    
Note: All per-share results are rounded to the nearest cent, based
on weighted-average diluted common shares outstanding.
 
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
(1)   Net litigation proceeds include $57 million in the fourth quarter of
                         2015, and $16 million and $75 million in full-year 2016 and 2015,
                         respectively, relating to the company’s non-agency residential
                         mortgage-backed securities (RMBS) portfolio, which are included in
                         Other revenue.
(2)                      Net tax benefits include $15 million in the fourth quarter of 2015
                         and $29 million for the full year, relating to certain current and
                         prior-year matters, which are included in Taxes on income.
                          


CEO Walt Bettinger said, "Schwab achieved truly noteworthy results in 2016 by sustaining our ’Through Clients’ Eyes’ strategy and working to earn our clients’ trust every day. During the year, from disappointing economic news early on, to the disruption of the Brexit vote, and then through the tumult of the presidential election, clients could trust that Schwab stood ready to help them navigate market volatility, and they made active use of our full-service capabilities. Our financial consultants held planning conversations with approximately 132,000 clients last year, up 18% from 2015. Client assets enrolled in one of our retail advisory solutions and those guided by independent advisors totaled $1.40 trillion at the end of 2016, up 12%. New and existing clients brought $125.5 billion in core net new assets to Schwab during 2016, marking a 5% annual organic growth rate and the 5th consecutive year over $100 billion. Net new assets in our Retail and Advisor Services businesses rose by 10% and 21%, respectively, over the prior year, while Mutual Fund Clearing and Retirement Plan flows slowed due to client turnover. Total client assets at year-end were a record $2.78 trillion, up 11%. We closed out 2016 serving more clients than ever, including 10.2 million active brokerage accounts, 1.1 million banking accounts and 1.5 million retirement plan participants, increases of 4%, 7% and 2%, respectively."

Mr. Bettinger continued, "As Schwab continues to offer more value and a better investing experience, new and existing clients choose to entrust us with more of their assets, fueling our financial performance. Our revenues rose 17% to a record $7.5 billion in 2016. On the expense front, we entered the year with goals that allowed for needed growth in our infrastructure and increased reinvestment to better serve clients while still delivering improved profitability. We kept to those goals through the ups and downs of 2016, which helped us increase net income by nearly a third over our 2015 performance, to a record $1.9 billion."

Mr. Bettinger added, "Our work to challenge the status quo on behalf of our clients continued across multiple fronts in 2016. We expanded and enhanced our Schwab OpenView Gateway(R) and Schwab Advisor Center(R) platforms to help the independent advisors who custody with us operate more efficiently and stay focused on serving their clients. We introduced Schwab Intelligent Advisory(R) as an extension of our contemporary, full-service approach to helping all individual clients build and manage their wealth. Schwab Intelligent Advisory is designed to be broadly accessible with a low balance minimum and fee, combining personalized financial and investment planning through CFP(R) professionals with automated and diversified portfolio management through Schwab Intelligent Portfolios(R). As part of our commitment to offering more value to investors, we launched the Schwab Target Index Funds, a new series of target-date mutual funds constructed with Schwab ETFs that are designed to be the lowest cost of their kind available to employer-sponsored retirement plans and retail investors.* We also expanded Schwab ETF OneSource(TM) by 16 net new funds in 2016, enabling Schwab clients to choose from a total of 228 ETFs covering 69 Morningstar categories, all for $0 online trade commissions. In addition, we introduced the Schwab Live hub to provide traders with centralized access to the interactive and live content we offer to help them succeed. We also continued our work to make it easier to establish a relationship with a locally-based investment professional by extending our footprint across the country - we added 3 new company branches and 5 new independent branches during the year."

CFO Joe Martinetto commented, "Schwab’s 2016 performance is a clear example of the company’s financial formula again working as designed: solid business growth driving solid revenue growth through diversified sources, leading to improved profitability through continued expense discipline. We expanded client assets by 11% during an environment that had some rough patches but ultimately included improving economic conditions, positive equity market returns and, at long last, the second small step by the Federal Reserve away from its zero interest rate policy of recent years. We achieved 17% revenue growth by generating record levels of net interest revenue and asset management and administration fees, which more than offset lower revenue from trading and the conclusion of certain litigation. Net interest revenue rose 32% to $3.3 billion due to a strong increase in client cash sweep deposits and higher short-term interest rates. Asset management and administration fees rose by 15% to $3.1 billion largely due to higher money market fund management fees relating to the rate environment and continued lift in client assets enrolled in one of our retail advisory solutions. Higher rates provided breathing room for our increased investment in people and technology, resulting in 9% expense growth for 2016. This increase more than doubled our constrained 2015 increase but still allowed for a 780 basis point gap between revenue and expense growth and a record 40% pre-tax profit margin, beating the prior high-water mark set in 2008."

Mr. Martinetto concluded, "We remain focused on managing the company’s balance sheet to support growth initiatives and further our strategy of optimizing the spread earned on client cash sweep balances. We completed approximately $8 billion in bulk transfers to Schwab Bank during 2016, including approximately $4 billion in the fourth quarter. These transfers, along with growth in bank deposits from our ongoing asset gathering, helped increase interest-earning assets on our balance sheet by 22% during 2016 to $216 billion at year-end. We supported this growth with capital generated through earnings and the issuance of approximately $1.4 billion in additional preferred stock. As part of managing Schwab’s capital levels, we maintain a target range for common stock dividends equal to 20-30% of earnings; consistent with our improving earnings picture, we increased our quarterly cash dividend by 17% during the year, to $0.07. We ended 2016 with a preliminary Tier-1 Leverage ratio of 7.2% and a full-year return on equity of 14%, the highest in seven years. Our solid capital position and healthy returns position Schwab to continue investing for profitable growth and sharing the benefits of our scale with clients while building long-term stockholder value."

Business highlights for the fourth quarter (data as of quarter-end unless otherwise noted):

Investor Services

-- New retail brokerage accounts for the quarter totaled approximately 182,000, up 21% year-over-year; total accounts were 7.1 million, up 3% year-over-year.

-- Held financial planning conversations with approximately 32,000 clients during the quarter, up 10% year-over-year. Approximately 132,000 planning conversations were held in 2016, up 18% from the prior year.

-- Opened two company branches in Brookfield, WI and Aspen, CO and opened two independent branches in Gainesville, FL and Peoria, IL. Schwab has over 335 branches across the country that offer clients access to a range of investing and personal finance guidance, services, and products.

-- Graduated the second class of FC Academy, a 24-month development rotational program preparing recent college graduates for a career in one of our branch offices.

-- Graduated the second class of FC University, a 10-week onboarding program that prepares new hires to be successful at Schwab and supports the expansion of our branch network.

-- Launched "Investing Principles" on schwab.com that outline Schwab’s core beliefs and approach to investing. Divided into three key components - Identify Your Goals, Get Invested, and Stay on Track - they create a foundation for every client, no matter where they are on their investing journey.

Advisor Services

-- Announced enhancements to Institutional Intelligent Portfolios(R), the automated investment management platform designed for independent advisors. The primary update is enhanced portfolio customization, which provides advisors greater flexibility to design portfolios based on their investment philosophies.

-- Announced enhancements to Schwab Advisor Center, the custody and trading platform for independent advisors. The platform now offers an array of automation features and tools, along with online support, enabling advisors and their clients to reduce paperwork and complexity.

-- Hosted over 5,100 advisors, exhibitors, sponsors, and media at our IMPACT(R) conference - the largest and longest-running annual gathering of independent registered investment advisors. This year, Schwab executives and industry leaders focused on growth, cybersecurity, and talent.

Products and Infrastructure

-- For Charles Schwab Bank: -- Launched a series of client experience, risk management, and efficiency improvements including two-way text fraud alerts for debit cards, online joint Schwab Bank High Yield Investor Checking(R) account opening, paperless Schwab Bank High Yield Investor Saving(R) statements, and paperless 1099-INT statements.

-- Balance sheet assets = $175.7 billion, up 26% year-over-year.

-- Outstanding mortgage and home equity loans = $11.5 billion, up 4% year-over-year.

-- Pledged Asset Line(R) balances = $3.9 billion, up 22% year-over-year.

-- Schwab Bank High Yield Investor Checking accounts = 914,000, with $13.8 billion in balances.

-- Client assets managed by Windhaven(R) totaled $9.0 billion, down 24% from the fourth quarter of 2015.

-- Client assets managed by ThomasPartners(R) totaled $10.2 billion, up 40% from the fourth quarter of 2015.

-- Client assets managed by Intelligent Portfolios (Schwab Intelligent Portfolios(R) and Institutional Intelligent Portfolios(R)) totaled $12.3 billion, up $2.1 billion from the third quarter of 2016.

Supporting schedules are either attached or located at: http://www.aboutschwab.com/investor-relations/financial-reports .

* For more information about Schwab Target Index Funds and Schwab ETFs, see csimfunds.com.

Commentary from the CFO

Joe Martinetto, Senior Executive Vice President and Chief Financial Officer, provides insight and commentary regarding Schwab’s financial picture at: http://www.aboutschwab.com/investor-relations/cfo-commentary . The most recent commentary was posted on January 19, 2016.

Business Update

The company also announced today that it has scheduled a Business Update for institutional investors on Thursday, February 2, 2017. This Update is designed to help the investment community keep abreast of recent developments and management’s strategic focus. The program is scheduled to run from approximately 8:30 a.m. - 12:15 p.m. PT, 11:30 a.m. - 3:15 p.m. ET. Participants will include members of the company’s executive management. A simultaneous webcast of this Update will be accessible to the public at http://schwabevents.com/corporation .

Forward-Looking Statements

This press release contains forward-looking statements relating to client value and investing experience; growth in the client base and client assets; financial performance; business growth; revenue growth; improved profitability; expense discipline; balance sheet management; growth initiatives; optimizing the spread earned on client cash; target range for common stock dividends; investing for profitable growth; sharing the benefits of scale with clients; and building long-term stockholder value. Achievement of these expectations and objectives is subject to risks and uncertainties that could cause actual results to differ materially from the expressed expectations.

Important factors that may cause such differences include, but are not limited to, the company’s ability to develop and launch new products, services and capabilities in a timely and successful manner; the company’s ability to attract and retain clients and registered investment advisors and grow those relationships and client assets; general market conditions, including the level of interest rates, equity valuations and trading activity; competitive pressures on rates and fees; client use of the company’s advisory solutions and other products and services; the level of client assets, including cash balances; the company’s ability to manage expenses; capital needs and management; the company’s ability to monetize client assets; the timing, amount and impact of bulk transfers; the quality of the company’s balance sheet assets; client sensitivity to interest rates; regulatory guidance; the effect of adverse developments in litigation or regulatory matters and the extent of any charges associated with legal matters; any adverse impact of financial reform legislation and related regulations; and other factors set forth in the company’s most recent reports on Form 10-K and Form 10-Q.

About Charles Schwab

The Charles Schwab Corporation (SCHW ) is a leading provider of financial services, with more than 335 offices and 10.2 million active brokerage accounts, 1.5 million corporate retirement plan participants, 1.1 million banking accounts, and $2.78 trillion in client assets as of December 31, 2016. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, money management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, http://www.sipc.org), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at www.schwab.com and www.aboutschwab.com.

 
                                                                                                                                                                                                       THE CHARLES SCHWAB CORPORATION
                                                                                                                                                                                                      Consolidated Statements of Income
                                                                                                                                                                                                   (In millions, except per share amounts)
                                                                                                                                                                                                                 (Unaudited)
                                                                                             
----------------------------------------------- -------------------- -------------------- -------------------- ---------------------------------------------------- -------------------- -------------------- ---------------------------------------------------- -------------------- -------------------- ---------------------------------------------------- -------------------- -------------------- --------------------------------
                                                                                                                     Three Months Ended                                                                                                                                      Twelve Months Ended
                                                                                                                                                              December 31,                                                                                                                                                                                  December 31,
                                                         2016                                                     2015                                                     2016                                                     2015
----------------------------------------------- -------------------- -------------------- ------------------------------------------------------------------------- -------------------- ------------------------------------------------------------------------- -------------------- ------------------------------------------------------------------------- -------------------- -----------------------------------------------------
Net Revenues                                                                                                                                                                                                                                                                                              
   Asset management and administration fees (1)                                                              $        801                                                                                   $        673                                                                                   $      3,055                                                                                   $      2,650
      Interest revenue                                                                                                952                                                                                            726                                                                                          3,493                                                                                          2,657
      Interest expense                                                                             (45 )                                                                       (36 )                                                                      (171 )                                                                      (132 )
                                                                                          -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- ---------- --------------------                                           -------------------- ---------- --------------------
   Net interest revenue                                                                                               907                                                                                            690                                                                                          3,322                                                                                          2,525
   Trading revenue                                                                                                    202                                                                                            208                                                                                            825                                                                                            866
   Other                                                                                                               62                                                                                            120                                                                                            271                                                                                            328
   Provision for loan losses                                   -                  -                  5                 11  
----------------------------------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- --------------------
      Total net revenues                                   1,972              1,691              7,478              6,380  
----------------------------------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- --------------------
Expenses Excluding Interest
   Compensation and benefits                                                                                          629                                                                                            572                                                                                          2,466                                                                                          2,241
   Professional services                                                                                              134                                                                                            119                                                                                            506                                                                                            459
   Occupancy and equipment                                                                                             99                                                                                             93                                                                                            398                                                                                            353
   Advertising and market development                                                                                  61                                                                                             60                                                                                            265                                                                                            249
   Communications                                                                                                      58                                                                                             58                                                                                            237                                                                                            233
   Depreciation and amortization                                                                                       61                                                                                             58                                                                                            234                                                                                            224
   Other                                                     106                 86                379                342  
----------------------------------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- --------------------
      Total expenses excluding interest                    1,148              1,046              4,485              4,101  
----------------------------------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- --------------------
Income before taxes on income                                                                                         824                                                                                            645                                                                                          2,993                                                                                          2,279
Taxes on income                                              302                229              1,104                832  
----------------------------------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- --------------------
Net Income                                                   522                416              1,889              1,447  
----------------------------------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- --------------------
Preferred stock dividends and other (2)                       44                 38                143                 83  
----------------------------------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- --------------------
Net Income Available to Common Stockholders                            $        478                          $        378                          $      1,746                          $      1,364  
=============================================== ==================== ==================== ==================== ========== ==================== ==================== ==================== ==================== ========== ==================== ==================== ==================== ==================== ========== ==================== ==================== ==================== ==================== ========== ====================
Weighted-Average Common Shares Outstanding:
   Basic                                                                                                            1,329                                                                                          1,319                                                                                          1,324                                                                                          1,315
   Diluted                                                 1,341              1,330              1,334              1,327  
----------------------------------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- --------------------
Earnings Per Common Share:
   Basic                                                                                                     $        .36                                                                                   $        .29                                                                                   $       1.32                                                                                   $       1.04
   Diluted                                                             $        .36                          $        .28                          $       1.31                          $       1.03  
----------------------------------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- --------------------
Dividends Declared Per Common Share                                    $        .07                          $        .06                          $        .27                          $        .24  
----------------------------------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- --------------------
(1)   Includes fee waivers of $31 and $153 during the fourth quarters of
                         2016 and 2015, respectively, and $224 and $672 during the twelve
                         months ended 2016 and 2015, respectively, relating to
                         Schwab-sponsored money market funds.
(2)                      Includes preferred stock dividends and undistributed earnings and
                         dividends allocated to non-vested restricted stock units.
                          
 
                                                                                                                                                                                                                                     THE CHARLES SCHWAB CORPORATION
                                                                                                                                                                                                                                     Financial and Operating Highlights
                                                                                                                                                                                                                                     (Unaudited)
                                                                                                                                                                                      
                                                                                             -------------------- -----------------------------------------------------------------------------------------------------------------------------
                                                                                                                         Q4-16 % change                                                                                                                                                                                                                       2016                                                                                                                                                                                                          2015
--------------------------------------------------------------------------------------------                      ---------------------------------------------------------------------------------------------------------                     ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                     ---------------------------------------------------------------------
                                                                                                                                      vs.                                         vs.                                                                       Fourth                                                                  Third                                                                 Second                                                                  First                                                                                    Fourth
(In millions, except per share amounts and as noted)                                                                                 Q4-15                                       Q3-16                                                                      Quarter                                                                Quarter                                                                Quarter                                                                Quarter                                                                Quarter
--------------------------------------------------------------------------------------------                      -------------------------------------------------------------- ------------------------------------------                     ----------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------- ---------------------------------------------------------------------
Net Revenues                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
   Asset management and administration fees                                                                                         19 %                                                            -                                                              $   801                                                                                   $   798                                                                                   $   757                                                                                   $   699                                                                                   $   673
   Net interest revenue                                                                                                             31 %                                                            7 %                                                                907                                                                                       845                                                                                       798                                                                                       772                                                                                       690
   Trading revenue                                                                                                                  (3 %)                                                           6 %                                                                202                                                                                       190                                                                                       201                                                                                       232                                                                                       208
   Other                                                                                                                           (48 %)                                                         (18 %)                                                                62                                                                                        76                                                                                        70                                                                                        63                                                                                       120
   Provision for loan losses                                                                                                         -                                                           (100 %)                                              -             5             2            (2 )                              -    
--------------------------------------------------------------------------------------------                                                                                                                                                    -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- --------------------
Total net revenues                                                                                                                  17 %                                                            3 %                                           1,972         1,914         1,828         1,764         1,691    
--------------------------------------------------------------------------------------------                                                                                                                                                    -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- --------------------
Expenses Excluding Interest
   Compensation and benefits                                                                                                        10 %                                                            3 %                                                                629                                                                                       609                                                                                       602                                                                                       626                                                                                       572
   Professional services                                                                                                            13 %                                                            2 %                                                                134                                                                                       131                                                                                       125                                                                                       116                                                                                       119
   Occupancy and equipment                                                                                                           6 %                                                           (1 %)                                                                99                                                                                       100                                                                                       101                                                                                        98                                                                                        93
   Advertising and market development                                                                                                2 %                                                           (5 %)                                                                61                                                                                        64                                                                                        70                                                                                        70                                                                                        60
   Communications                                                                                                                    -                                                              2 %                                                                 58                                                                                        57                                                                                        62                                                                                        60                                                                                        58
   Depreciation and amortization                                                                                                     5 %                                                            2 %                                                                 61                                                                                        60                                                                                        57                                                                                        56                                                                                        58
   Other                                                                                                                            23 %                                                            7 %                                             106            99            91            83            86    
--------------------------------------------------------------------------------------------                                                                                                                                                    -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- --------------------
Total expenses excluding interest                                                                                                   10 %                                                            3 %                                           1,148         1,120         1,108         1,109         1,046    
--------------------------------------------------------------------------------------------                                                                                                                                                    -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- --------------------
Income before taxes on income                                                                                                       28 %                                                            4 %                                                                824                                                                                       794                                                                                       720                                                                                       655                                                                                       645
Taxes on income                                                                                                                     32 %                                                            4 %                                             302           291           268           243           229    
--------------------------------------------------------------------------------------------                                                                                                                                                    -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- --------------------
Net Income                                                                                                                          25 %                                                            4 %                                                            $   522                          $   503                          $   452                          $   412                          $   416    
--------------------------------------------------------------------------------------------                                                                                                                                                    -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- --------------------
Preferred stock dividends and other                                                                                                 16 %                                                           33 %                                              44            33            46            20            38    
--------------------------------------------------------------------------------------------                                                                                                                                                    -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- --------------------
Net Income Available to Common Stockholders                                                                                         26 %                                                            2 %                                                            $   478                          $   470                          $   406                          $   392                          $   378    
============================================================================================                                                                                                                                                    ==================== ===== ==================== ==================== ==================== ==================== ===== ==================== ==================== ==================== ==================== ===== ==================== ==================== ==================== ==================== ===== ==================== ==================== ==================== ==================== ===== ==================== ====================
Earnings per common share:
   Basic                                                                                                                            24 %                                                            -                                                              $   .36                                                                                   $   .36                                                                                   $   .31                                                                                   $   .30                                                                                   $   .29
   Diluted                                                                                                                          29 %                                                            3 %                                                            $   .36                                                                                   $   .35                                                                                   $   .30                                                                                   $   .29                                                                                   $   .28
Dividends declared per common share                                                                                                 17 %                                                            -                                                              $   .07                                                                                   $   .07                                                                                   $   .07                                                                                   $   .06                                                                                   $   .06
Weighted-average common shares outstanding:
   Basic                                                                                                                             1 %                                                            -                                                                1,329                                                                                     1,324                                                                                     1,322                                                                                     1,321                                                                                     1,319
   Diluted                                                                                                                           1 %                                                            1 %                                           1,341         1,334         1,333         1,330         1,330    
--------------------------------------------------------------------------------------------                                                                                                                                                    -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- --------------------
Performance Measures
   Pre-tax profit margin                                                                                                                                                                                                                                              41.8                      %                                                               41.5                      %                                                               39.4                      %                                                               37.1                      %                                                               38.1                      %
   Return on average common stockholders’ equity (annualized) (1)                                                                                                                                                         14   %                           14   %                           13   %                           13   %                           13   %
--------------------------------------------------------------------------------------------                                                                                                                                                    -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- --------------------
Financial Condition (at quarter end, in billions)
   Cash and investments segregated                                                                                                  13 %                                                           10 %                                                            $  22.2                                                                                   $  20.1                                                                                   $  18.6                                                                                   $  20.3                                                                                   $  19.6
   Receivables from brokerage clients - net                                                                                         (1 %)                                                           5 %                                                               17.2                                                                                      16.4                                                                                      16.8                                                                                      16.0                                                                                      17.3
   Bank loans - net                                                                                                                  8 %                                                            3 %                                                               15.4                                                                                      14.9                                                                                      14.7                                                                                      14.4                                                                                      14.3
   Total assets                                                                                                                     22 %                                                            7 %                                                              223.4                                                                                     209.3                                                                                     198.1                                                                                     191.0                                                                                     183.7
   Bank deposits                                                                                                                    26 %                                                            9 %                                                              163.5                                                                                     149.6                                                                                     137.3                                                                                     135.7                                                                                     129.5
   Payables to brokerage clients                                                                                                     8 %                                                            9 %                                                               35.9                                                                                      33.0                                                                                      32.7                                                                                      32.3                                                                                      33.2
   Short-term borrowings                                                                                                             -                                                           (100 %)                                                                 -                                                                                       3.0                                                                                       5.0                                                                                        .8                                                                                         -
   Long-term debt                                                                                                                    -                                                              -                                                                  2.9                                                                                       2.9                                                                                       2.9                                                                                       2.9                                                                                       2.9
   Stockholders’ equity                                                                                  22 %                                                            6 %                                            16.4          15.5          15.0          14.5          13.4    
--------------------------------------------------------------------------------------------                                                                                                                                                    -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- --------------------
Other
   Full-time equivalent employees (at quarter end, in thousands)                                                                     6 %                                                            1 %                                                               16.2                                                                                      16.1                                                                                      16.1                                                                                      15.6                                                                                      15.3
                                                                                                                                    28 %                                                           15 %                                                            $    86                                                                                   $    75                                                                                   $   131                                                                                   $    61                                                                                   $    67
   Capital expenditures - purchases of equipment, office facilities,
   and property, net (in millions)
                                                                                                                                                                                                                                                   0.17   %                         0.17   %                         0.17   %                         0.18   %                         0.16   %
   Expenses excluding interest as a percentage of average client
   assets (annualized)
--------------------------------------------------------------------------------------------                                                                                                                                                    -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- --------------------
Clients’ Daily Average Trades (in thousands)
   Revenue trades (2)                                                                                                                3 %                                                            9 %                                                                293                                                                                       268                                                                                       279                                                                                       328                                                                                       285
   Asset-based trades (3)                                                                                                           26 %                                                           33 %                                                                106                                                                                        80                                                                                        90                                                                                       101                                                                                        84
   Other trades (4)                                                                                                                  4 %                                                          (11 %)                                            174           195           149           187           168    
--------------------------------------------------------------------------------------------                                                                                                                                                    -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- --------------------
Total                                                                                                                                7 %                                                            6 %                                             573           543           518           616           537    
--------------------------------------------------------------------------------------------                                                                                                                                                    -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- --------------------
Average Revenue Per Revenue Trade (2)                                                                                               (6 %)                                                          (1 %)                                                           $ 11.03                          $ 11.17                          $ 11.27                          $ 11.44                          $ 11.73    
--------------------------------------------------------------------------------------------                                                                                                                                                    -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- -------------------- ----- -------------------- --------------------
                                                                                                          
                                                                                             -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
(1)   Return on average common stockholders’ equity is calculated using
                         net income available to common stockholders divided by average
                         common stockholders’ equity.
(2)                      Includes all client trades that generate trading revenue (i.e.,
                         commission revenue or principal transaction revenue); also known as
                         DART.
(3)                      Includes eligible trades executed by clients who participate in one
                         or more of the Company’s asset-based pricing relationships.
(4)                      Includes all commission-free trades, including Schwab Mutual Fund
                         OneSource(R) funds and ETFs, and other proprietary products.
                          
 
                                                                                                                                                                                                                                     THE CHARLES SCHWAB CORPORATION
                                                                                                                                                                                                                                     Net Interest Revenue Information
                                                                                                                                                                                                                                     (In millions)
                                                                                                                                                                                                                                     (Unaudited)
                                                                                                                                                                                                                                                                      
----------------------------------------- -------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                                                               ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                     Three Months Ended                                                                                                                                                                                                                                                                                                                                                                                   Twelve Months Ended
                                                                                                                                                                                                                           December 31,                                                                                                                                                                                                                                                                                                                                                                                         December 31,
                                                               ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                                                               ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                              2016                                                                                                                                     2015                                                                                                                                                                                               2016                                                                                                                                      2015
                                                               -----------------------------------------------------------------------------------------------------------------------------------                                                               -----------------------------------------------------------------------------------------------------------------------------------                                                               ------------------------------------------------------------------------------------------------------------------------------------                                                               ------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                    Interest                  Average                                                                                                                           Interest                  Average                                                                                                                           Interest                   Average                                                                                                                           Interest                   Average
                                                                                 Average                                               Revenue/                                     Yield/                                                                                         Average                                               Revenue/                                     Yield/                                                                                         Average                                               Revenue/                                      Yield/                                                                                         Average                                               Revenue/                                      Yield/
                                           Balance                             Expense                   Rate                                                    Balance                             Expense                   Rate                                                                                          Balance                             Expense                    Rate                                                    Balance                             Expense                    Rate
----------------------------------------- -------------------- -------------------------------------------------------------- ---------------------------------------------- -----------------------------------------                      -------------------- -------------------------------------------------------------- ---------------------------------------------- ---------------------                                                               -------------------------------------------------------------- ----------------------------------------------- -----------------------------------------                      -------------------- -------------------------------------------------------------- ----------------------------------------------- ---------------------
Interest-earning assets:
Cash and cash equivalents                                                         $               10,052                                         $   13                            0.51 %                                                                                           $                9,738                                         $    7                            0.29 %                                                                                           $               11,143                                         $    57                            0.51 %                                                                                           $                9,358                                         $    24                            0.26 %
Cash and investments segregated                                                                   21,047                                             28                            0.53 %                                                                                                           18,605                                             10                            0.21 %                                                                                                           20,104                                              93                            0.46 %                                                                                                           18,606                                              31                            0.17 %
Broker-related receivables (1)                                                                       493                                              1                            0.27 %                                                                                                              243                                              -                            0.08 %                                                                                                              558                                               1                            0.22 %                                                                                                              274                                               -                            0.07 %
Receivables from brokerage clients                                                                15,145                                            125                            3.28 %                                                                                                           15,715                                            128                            3.23 %                                                                                                           15,001                                             497                            3.31 %                                                                                                           15,212                                             502                            3.30 %
Securities available for sale (2)                                                                 76,624                                            247                            1.28 %                                                                                                           66,352                                            175                            1.05 %                                                                                                           72,586                                             883                            1.22 %                                                                                                           62,249                                             629                            1.01 %
Securities held to maturity                                                                       68,351                                            396                            2.30 %                                                                                                           43,156                                            271                            2.49 %                                                                                                           57,451                                           1,402                            2.44 %                                                                                                           38,280                                             957                            2.50 %
Bank loans                                                  15,148      103         2.71 %                                                  14,345       95         2.63 %                                                                                        14,715       400         2.72 %                                                  13,973       369         2.64 %
----------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- ---------- --------- --------------------                      -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- ---------- ---------                                                                -------------------- -------------------- -------------------- -------------------- ----- -------------------- ---------- --------- --------------------                      -------------------- -------------------- -------------------- -------------------- -------------------- ----- -------------------- ---------- ---------
   Total interest-earning assets                           206,860      913         1.76 %                                                 168,154      686         1.62 %                                                                                       191,558     3,333         1.74 %                                                 157,952     2,512         1.59 %
----------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- ---------- --------- --------------------                      -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- ---------- ---------                                                                -------------------- -------------------- -------------------- -------------------- ----- -------------------- ---------- --------- --------------------                      -------------------- -------------------- -------------------- -------------------- -------------------- ----- -------------------- ---------- ---------
Other interest revenue                                39                                        40                                                                              160                                        145    
----------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- -----------------------------------------                      -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- ---------------------                                                               -------------------- -------------------- -------------------- -------------------- ----- -------------------- -----------------------------------------                      -------------------- -------------------- -------------------- -------------------- -------------------- ----- -------------------- ---------------------
Total interest-earning assets                                  $              206,860                      $  952         1.83 %                                                     $              168,154                      $  726         1.71 %                                                                                           $              191,558                      $ 3,493         1.82 %                                                     $              157,952                      $ 2,657         1.68 %
========================================= ==================== ==================== ==================== ==================== ==================== ==== ==================== ========== ========= ====================                      ==================== ==================== ==================== ==================== ==================== ==== ==================== ========== =========                                                                ==================== ==================== ==================== ==================== ===== ==================== ========== ========= ====================                      ==================== ==================== ==================== ==================== ==================== ===== ==================== ========== =========
Funding sources:
Bank deposits                                                                     $              154,357                                         $   11                            0.03 %                                                                                           $              122,054                                         $    7                            0.02 %                                                                                           $              141,432                                         $    37                            0.03 %                                                                                           $              113,464                                         $    29                            0.03 %
Payables to brokerage clients (1)                                                                 27,141                                              1                            0.01 %                                                                                                           25,813                                              -                            0.01 %                                                                                                           26,311                                               3                            0.01 %                                                                                                           25,651                                               2                            0.01 %
Short-term borrowings (1,3)                                                                        2,429                                              3                            0.49 %                                                                                                               16                                              -                            0.41 %                                                                                                            1,864                                               9                            0.48 %                                                                                                               21                                               -                            0.27 %
Long-term debt (4)                                           2,876       26         3.60 %                                                   2,959       25         3.35 %                                                                                         2,876       104         3.62 %                                                   2,717        92         3.39 %
----------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- ---------- --------- --------------------                      -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- ---------- ---------                                                                -------------------- -------------------- -------------------- -------------------- ----- -------------------- ---------- --------- --------------------                      -------------------- -------------------- -------------------- -------------------- -------------------- ----- -------------------- ---------- ---------
   Total interest-bearing liabilities (4)                  186,803       41         0.09 %                                                 150,842       32         0.08 %                                                                                       172,483       153         0.09 %                                                 141,853       123         0.09 %
----------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- ---------- --------- --------------------                      -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- ---------- ---------                                                                -------------------- -------------------- -------------------- -------------------- ----- -------------------- ---------- --------- --------------------                      -------------------- -------------------- -------------------- -------------------- -------------------- ----- -------------------- ---------- ---------
Non-interest-bearing funding sources (3)                                                          20,057                                                                                                                                                                                            17,312                                                                                                                                                                                            19,075                                                                                                                                                                                             16,099
Other interest expense                                 4                                         4                                                                               18                                          9    
----------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- -----------------------------------------                      -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- ---------------------                                                               -------------------- -------------------- -------------------- -------------------- ----- -------------------- -----------------------------------------                      -------------------- -------------------- -------------------- -------------------- -------------------- ----- -------------------- ---------------------
Total funding sources                                          $              206,860                      $   45         0.09 %                                                     $              168,154                      $   36         0.08 %                                                                                           $              191,558                      $   171         0.09 %                                                     $              157,952                      $   132         0.08 %
========================================= ==================== ==================== ==================== ==================== ==================== ==== ==================== ========== ========= ====================                      ==================== ==================== ==================== ==================== ==================== ==== ==================== ========== =========                                                                ==================== ==================== ==================== ==================== ===== ==================== ========== ========= ====================                      ==================== ==================== ==================== ==================== ==================== ===== ==================== ========== =========
Net interest revenue                                                 $  907         1.74 %                                                           $  690         1.63 %                                                                                                 $ 3,322         1.73 %                                                           $ 2,525         1.60 %
========================================= ==================== ==================== ==================== ==================== ==================== ==== ==================== ========== ========= ====================                      ==================== ==================== ==================== ==================== ==================== ==== ==================== ========== =========                                                                ==================== ==================== ==================== ==================== ===== ==================== ========== ========= ====================                      ==================== ==================== ==================== ==================== ==================== ===== ==================== ========== =========
(1)   Interest revenue or expense was less than $500,000 in the period or
                         periods presented.
(2)                      Amounts have been calculated based on amortized cost.
(3)                      Certain prior-period amounts have been reclassified to conform to
                         the 2016 presentation.
(4)                      Adjusted for the retrospective adoption of Accounting Standards
                         Update 2015-03, which decreased long-term debt and total
                         interest-bearing liabilities by an immaterial amount.
                          
 
                                                                                                                                                                                                                                     THE CHARLES SCHWAB CORPORATION
                                                                                                                                                                                                                                     Asset Management and Administration Fees Information
                                                                                                                                                                                                                                     (In millions)
                                                                                                                                                                                                                                     (Unaudited)
                                                                                                                                                                                                                                                                           
---------------------------------------------- -------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                                                               ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                          Three Months Ended                                                                                                                                                                                                                                                                                                                                                                                                                                                  Twelve Months Ended
                                                                                                                                                                                                                                                                December 31,                                                                                                                                                                                                                                                                                                                                                                                                                                                        December 31,
                                                                    ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                                                               ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                   2016                                                                                                                                                                    2015                                                                                                                                                                                                                               2016                                                                                                                                                                      2015
                                                                    ------------------------------------------------------------------------------------------------------------------------------------------------------------------                                                               -------------------------------------------------------------------------------------------------------------------------------------------------------------------                                                               --------------------------------------------------------------------------------------------------------------------------------------------------------------------                                                               --------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                      Average                                                                                                                                                                                    Average                                                                                                                                                                                     Average                                                                                                                                                                                      Average                                                                    
                                                                                      Client                                                                                                                       Average                                                                                             Client                                                                                                                        Average                                                                                             Client                                                                                                                         Average                                                                                             Client                                                                                                                         Average
                                                Assets                                        Revenue                                    Fee                                                         Assets                                        Revenue                                     Fee                                                                                               Assets                                         Revenue                                     Fee                                                         Assets                                         Revenue                                     Fee
---------------------------------------------- -------------------- -------------------------------------------------------------- ------------------------------------------------------------------ ----------------------------------------------------                      -------------------- -------------------------------------------------------------- ------------------------------------------------------------------- --------------------------------                                                               -------------------------------------------------------------- -------------------------------------------------------------------- ----------------------------------------------------                      -------------------- -------------------------------------------------------------- -------------------------------------------------------------------- --------------------------------
Schwab money market funds before fee waivers                                           $              162,207                                         $ 238                                                 0.58 %                                                                                                      $              162,437                                         $  241                                                 0.59 %                                                                                                      $              164,120                                         $   962                                                 0.59 %                                                                                                      $              161,381                                         $   947                                                 0.59 %
Fee waivers                                              (31 )                                                                    (153 )                                                                                                           (224 )                                                                     (672 )                       
---------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --- -------------------- -------------------- ----------------------------------------------------                      -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- -------------------- --------------------------------                                                               -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- ----------------------------------------------------                      -------------------- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- --------------------------------
Schwab money market funds                                                                             162,207                                           207                                                 0.51 %                                                                                                                     162,437                                             88                                                 0.21 %                                                                                                                     164,120                                             738                                                 0.45 %                                                                                                                     161,381                                             275                                                 0.17 %
Schwab equity and bond funds and ETFs                                                                 125,814                                            57                                                 0.18 %                                                                                                                     105,935                                             54                                                 0.20 %                                                                                                                     115,849                                             217                                                 0.19 %                                                                                                                     102,486                                             217                                                 0.21 %
Mutual Fund OneSource (R)                                                              198,289                                           168                                                 0.34 %                                                                                                                     212,409                                            182                                                 0.34 %                                                                                                                     199,389                                             676                                                 0.34 %                                                                                                                     225,347                                             764                                                 0.34 %
Other third-party mutual funds and ETFs (1)                     264,703      59           0.09 %                                                            248,659       53           0.08 %                                                                                                  254,584       222           0.09 %                                                            251,491       223           0.09 %
---------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --- -------------------- -------------------- ---------- -------------------- --------------------                      -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- -------------------- ---------- --------------------                                                                -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- ---------- -------------------- --------------------                      -------------------- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- ---------- --------------------
      Total mutual funds and ETFs (2)                               $              751,013     491           0.26 %                                                                $              729,440      377           0.21 %                                                                                                      $              733,942     1,853           0.25 %                                                                $              740,705     1,479           0.20 %
---------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --- -------------------- -------------------- ---------- -------------------- --------------------                      -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- -------------------- ---------- --------------------                                                                -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- ---------- -------------------- --------------------                      -------------------- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- ---------- --------------------
Advice solutions (2) :
   Fee-based                                                                           $              184,007                                           237                                                 0.51 %                                                                                                      $              171,577                                            225                                                 0.52 %                                                                                                      $              177,409                                             915                                                 0.52 %                                                                                                      $              172,302                                             898                                                 0.52 %
   Intelligent Portfolios                                                                              11,119                                             -                                                    -                                                                                                                         4,891                                              -                                                    -                                                                                                                         8,377                                               -                                                    -                                                                                                                         3,274                                               -                                                    -
   Legacy Non-Fee                                                17,174       -              -                                            16,135        -              -                                                                                  16,969         -              -                                            16,463         -              -  
---------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --- -------------------- -------------------- ---------- -------------------- --------------------                      -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- -------------------- ---------- --------------------                                                                -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- ---------- -------------------- --------------------                      -------------------- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- ---------- --------------------
      Total advice solutions                                        $              212,300     237           0.44 %                                                                $              192,603      225           0.46 %                                                                                                      $              202,755       915           0.45 %                                                                $              192,039       898           0.47 %
---------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --- -------------------- -------------------- ---------- -------------------- --------------------                      -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- -------------------- ---------- --------------------                                                                -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- ---------- -------------------- --------------------                      -------------------- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- ---------- --------------------
Other balance-based fees (3)                                                                          349,610                                            59                                                 0.07 %                                                                                                                     328,982                                             57                                                 0.07 %                                                                                                                     339,071                                             235                                                 0.07 %                                                                                                                     324,701                                             226                                                 0.07 %
Other (4)                                                 14                                                     14                                                                                            52                                                      47      
---------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --- -------------------- -------------------- ----------------------------------------------------                      -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- -------------------- --------------------------------                                                               -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- ----------------------------------------------------                      -------------------- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- --------------------------------
Total asset management and administration fees                            $ 801                                                                    $  673                                                                                                          $ 3,055                                                                    $ 2,650      
============================================== ==================== ==================== ==================== ==================== ==================== === ==================== ==================== ====================================================                      ==================== ==================== ==================== ==================== ==================== ==== ==================== ==================== ================================                                                               ==================== ==================== ==================== ==================== ===== ==================== ==================== ====================================================                      ==================== ==================== ==================== ==================== ==================== ===== ==================== ==================== ================================
Note: Beginning in the fourth quarter of 2015, certain changes
have been made to the above categorizations of both balances and
revenues in order to provide improved insight into asset
management and administration fee drivers. Prior period
information has been recast to reflect these changes.
(1)                      Includes Schwab ETF OneSource(TM).
(2)                                         Advice solutions include managed portfolios, specialized strategies,
                                            and customized investment advice. Fee-based advice solutions include
                                            Schwab Private Client, Schwab Managed Portfolios, Managed Account
                                            Select(R), Schwab Advisor Network(R), Windhaven(R)
                                            Strategies, ThomasPartners(R) Dividend Growth Strategy, and
                                            Schwab Index Advantage(R) advised retirement plan balances.
                                            Intelligent Portfolios include Schwab Intelligent Portfolios(R),
                                            launched in March 2015, and Institutional Intelligent Portfolios(R),
                                            launched in June 2015. Legacy Non-Fee advice solutions include
                                            superseded programs such as Schwab Advisor Source and certain
                                            retirement plan balances. Average client assets for advice solutions
                                            may also include the asset balances contained in the mutual fund
                                            and/or ETF categories listed above.
(3)                                         Includes various asset-based fees, such as trust fees, 401(k)
                                            recordkeeping fees, and mutual fund clearing fees and other service
                                            fees.
(4)                                         Includes miscellaneous service and transaction fees relating to
                                            mutual funds and ETFs that are not balance-based.
                                             
 
                                                                                                                                                                                                                                     THE CHARLES SCHWAB CORPORATION
                                                                                                                                                                                                                                     Growth in Client Assets and Accounts
                                                                                                                                                                                                                                     (Unaudited)
                                                                                                                                                                                          
                                                                                                 -------------------- -----------------------------------------------------------------------------------------------------------------------------
                                                                                                                             Q4-16 % Change                                                                                                                                                                                 2016                                                                                                                                                           2015
------------------------------------------------------------------------------------------------                      ---------------------------------------------------------------------------------------------------------                     ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                     --------------------------------------------------
                                                                                                                                          vs.                                         vs.                                                              Fourth                                               Third                                              Second                                               First                                                                 Fourth
(In billions, at quarter end, except as noted)                                                                                           Q4-15                                                          Q3-16                                                             Quarter                                             Quarter                                             Quarter                                             Quarter                                             Quarter
------------------------------------------------------------------------------------------------                                                                                                                                                    ---------------------------------------------------------------------- ---------------------------------------------------------------------- ---------------------------------------------------------------------- ---------------------------------------------------------------------- --------------------------------------------------
Assets in client accounts
   Schwab One(R), certain cash equivalents and bank deposits                                                             23 %                                                            9 %                                                            $   197.4                                                              $   181.1                                                              $   168.4                                                              $   166.4                                                              $   161.1
   Proprietary mutual funds (Schwab Funds(R) and Laudus Funds(R)):
      Money market funds                                                                                                                (2 %)                                                           2 %                                                                163.5                                                                  160.3                                                                  161.0                                                                  167.4                                                                  166.1
      Equity and bond funds (1)                                                                                                          6 %                                                            2 %                                              66.1          64.6          62.8          62.1          62.4  
------------------------------------------------------------------------------------------------                                                                                                                                                    -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
         Total proprietary mutual funds                                                                                                  -                                                              2 %                                             229.6         224.9         223.8         229.5         228.5  
------------------------------------------------------------------------------------------------                                                                                                                                                    -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
   Mutual Fund Marketplace(R) (2)
      Mutual Fund OneSource(R)                                                                                           (4 %)                                                          (3 %)                                                               198.9                                                                  206.1                                                                  203.4                                                                  203.8                                                                  207.7
      Mutual fund clearing services                                                                                                      5 %                                                           (1 %)                                                               196.6                                                                  198.8                                                                  192.0                                                                  186.3                                                                  186.5
      Other third-party mutual funds                                                                                                    12 %                                                            -                                               558.2         556.1         529.7         510.7         496.4  
------------------------------------------------------------------------------------------------                                                                                                                                                    -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
         Total Mutual Fund Marketplace                                                                                                   7 %                                                           (1 %)                                            953.7         961.0         925.1         900.8         890.6  
------------------------------------------------------------------------------------------------                                                                                                                                                    -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
            Total mutual fund assets                                                                                                     6 %                                                            -                                             1,183.3       1,185.9       1,148.9       1,130.3       1,119.1  
------------------------------------------------------------------------------------------------                                                                                                                                                    -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
   Exchange-traded funds (ETFs)
      Proprietary ETFs (1)                                                                                                              51 %                                                           11 %                                                                 59.8                                                                   53.9                                                                   47.9                                                                   42.9                                                                   39.7
      ETF OneSource(TM) (2)                                                                                                32 %                                                            5 %                                                                 21.2                                                                   20.2                                                                   19.0                                                                   17.5                                                                   16.1
      Other third-party ETFs                                                                                                            15 %                                                            3 %                                             238.3         230.8         220.5         211.5         207.4  
------------------------------------------------------------------------------------------------                                                                                                                                                    -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
         Total ETF assets                                                                                                               21 %                                                            5 %                                             319.3         304.9         287.4         271.9         263.2  
------------------------------------------------------------------------------------------------                                                                                                                                                    -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
   Equity and other securities                                                                                                          11 %                                                            3 %                                                                886.5                                                                  860.3                                                                  830.7                                                                  808.5                                                                  799.0
   Fixed income securities                                                                                                              11 %                                                            -                                                                  208.3                                                                  208.0                                                                  202.0                                                                  194.1                                                                  187.2
   Margin loans outstanding                                                                                                             (3 %)                                                           3 %                                             (15.3 )                          (14.9 )                          (15.4 )                          (14.5 )                          (15.8 )
------------------------------------------------------------------------------------------------                                                                                                                                                    -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
   Total client assets                                                                                                                  11 %                                                            2 %                                                            $ 2,779.5                        $ 2,725.3                        $ 2,622.0                        $ 2,556.7                        $ 2,513.8  
================================================================================================                                                                                                                                                    ==================== ======= ==================== ==================== ==================== ======= ==================== ==================== ==================== ======= ==================== ==================== ==================== ======= ==================== ==================== ==================== ======= ====================
Client assets by business
   Investor Services                                                                                                                    10 %                                                            2 %                                                            $ 1,495.4                                                              $ 1,470.8                                                              $ 1,415.5                                                              $ 1,377.3                                                              $ 1,358.6
   Advisor Services                                                                                                                     11 %                                                            2 %                                           1,284.1       1,254.5       1,206.5       1,179.4       1,155.2  
------------------------------------------------------------------------------------------------                                                                                                                                                    -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
   Total client assets                                                                                                                  11 %                                                            2 %                                                            $ 2,779.5                        $ 2,725.3                        $ 2,622.0                        $ 2,556.7                        $ 2,513.8  
================================================================================================                                                                                                                                                    ==================== ======= ==================== ==================== ==================== ======= ==================== ==================== ==================== ======= ==================== ==================== ==================== ======= ==================== ==================== ==================== ======= ====================
Net growth in assets in client accounts (for the quarter
ended)
   Net new assets by business
                                                                                                                                       (37 %)                                                          (4 %)                                                           $    13.7                                                              $    14.2                                                              $    14.8                                                              $    15.7                                                              $    21.6
      Investor Services (3)
      Advisor Services                                                                                                                   9 %                                                           47 %                                              23.2          15.8          11.8          16.3          21.3  
------------------------------------------------------------------------------------------------                                                                                                                                                    -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
   Total net new assets                                                                                                                (14 %)                                                          23 %                                                            $    36.9                        $    30.0                        $    26.6                        $    32.0                        $    42.9  
------------------------------------------------------------------------------------------------                                                                                                                                                    -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
   Net market gains                                                                                                                    (69 %)                                                         (76 %)                                             17.3          73.3          38.7          10.9          55.0  
------------------------------------------------------------------------------------------------                                                                                                                                                    -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
   Net growth                                                                                                                          (45 %)                                                         (48 %)                                                           $    54.2                        $   103.3                        $    65.3                        $    42.9                        $    97.9  
================================================================================================                                                                                                                                                    ==================== ======= ==================== ==================== ==================== ======= ==================== ==================== ==================== ======= ==================== ==================== ==================== ======= ==================== ==================== ==================== ======= ====================
New brokerage accounts (in thousands, for the quarter ended)                                                                            12 %                                                           11 %                                                                  293                                                                    264                                                                    271                                                                    265                                                                    262
Clients (in thousands)
   Active Brokerage Accounts                                                                                                             4 %                                                            1 %                                                               10,155                                                                 10,046                                                                  9,977                                                                  9,869                                                                  9,769
   Banking Accounts                                                                                                                      7 %                                                            2 %                                                                1,106                                                                  1,088                                                                  1,065                                                                  1,047                                                                  1,033
   Corporate Retirement Plan Participants                                                                                                2 %                                                           (1 %)                                            1,543         1,561         1,553         1,532         1,519  
------------------------------------------------------------------------------------------------                                                                                                                                                    -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
                                                                                                              
                                                                                                 -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
(1)   Includes proprietary equity and bond funds and ETFs held on and off
                         the Schwab platform. As of December 31, 2016, off-platform equity
                         and bond funds and ETFs were $7.8 billion and $12.7 billion,
                         respectively.
(2)                      Excludes all proprietary mutual funds and ETFs.
(3)                      Second quarter of 2016 includes an inflow of $2.7 billion from a
                         mutual fund clearing services client. Fourth quarter of 2015
                         includes an inflow of $10.2 billion from a mutual fund clearing
                         services client.
                          
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                     The Charles Schwab Corporation Monthly Activity Report For
                                                                                                                                                                                                                                     December 2016
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                        2015                                              2016                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             Change
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    ------------------------------                       ---------------------------------------------
                                                                                         Dec                                               Jan                                               Feb                                               Mar                                               Apr                                               May                                               Jun                                               Jul                                               Aug                                               Sep                                               Oct                                               Nov                                                 Dec                                     Mo.                               Yr.
                                                                            ---------------------------                       ---------------------------                       ---------------------------                       ---------------------------                       ---------------------------                       ---------------------------                       ---------------------------                       ---------------------------                       ---------------------------                       ---------------------------                       ---------------------------                       ---------------------------                       ------------------------------                       -----                      --------------------
Market Indices
   (at month end)
      Dow Jones Industrial Average                                           17,425                                            16,466                                            16,517                                            17,685                                            17,774                                            17,787                                            17,930                                            18,432                                            18,401                                            18,308                                            18,142                                            19,124                                               19,763                                             3%                                13%
      Nasdaq Composite                                                        5,007                                             4,614                                             4,558                                             4,870                                             4,775                                             4,948                                             4,843                                             5,162                                             5,213                                             5,312                                             5,189                                             5,324                                                5,383                                             1%                                8%
      Standard & Poor’s 500                        2,044                                             1,940                                             1,932                                             2,060                                             2,065                                             2,097                                             2,099                                             2,174                                             2,171                                             2,168                                             2,126                                             2,199                                                2,239                                             2%                                10%
Client Assets
   (in billions of dollars)
Beginning Client Assets                                                     2,553.3                                           2,513.8                                           2,428.3                                           2,433.6                                           2,556.7                                           2,576.2                                           2,607.2                                           2,622.0                                           2,698.2                                           2,710.4                                           2,725.3                                           2,686.7                                              2,734.6
                                                                               15.2                                               8.1                                              10.9                                              13.0                                               1.3                                              16.0                                               9.3                                               9.0                                              10.4                                              10.6                                               6.1                                              11.9                                                 18.9                                             59%                               24%
      Net New Assets (1)
      Net Market (Losses) Gains                                               (54.7 )                        (93.6 )                         (5.6 )                        110.1        18.2        15.0         5.5        67.2         1.8         4.3       (44.7 )                         36.0                              26.0  
                                                                            ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- --------------------                      ---------- --------------------
Total Client Assets (at month end)                                          2,513.8     2,428.3     2,433.6     2,556.7     2,576.2     2,607.2     2,622.0     2,698.2     2,710.4     2,725.3     2,686.7     2,734.6                           2,779.5                          2%                                11%
                                                                            ======= ==================== ==================== ======= ==================== ==================== ======= ==================== ==================== ======= ==================== ==================== ======= ==================== ==================== ======= ==================== ==================== ======= ==================== ==================== ======= ==================== ==================== ======= ==================== ==================== ======= ==================== ==================== ======= ==================== ==================== ======= ====================                      ========== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
Receiving Ongoing Advisory Services
   (at month end)
      Investor Services                                                       192.6                                             187.3                                             187.9                                             197.9                                             200.3                                             202.7                                             205.0                                             210.2                                             211.7                                             213.4                                             211.3                                             213.2                                                217.1                                             2%                                13%
      Advisor Services (2)                                                  1,061.1                                           1,029.9                                           1,032.3                                           1,084.0                                           1,093.2                                           1,103.7                                           1,110.5                                           1,142.3                                           1,149.4                                           1,155.4                                           1,140.5                                           1,161.8                                              1,184.3                                             2%                                12%
Client Accounts
   (at month end, in thousands)
      Active Brokerage Accounts                                               9,769                                             9,792                                             9,826                                             9,869                                             9,916                                             9,948                                             9,977                                             9,989                                            10,021                                            10,046                                            10,068                                            10,102                                               10,155                                             1%                                4%
      Banking Accounts                                                        1,033                                             1,039                                             1,045                                             1,047                                             1,053                                             1,060                                             1,065                                             1,074                                             1,083                                             1,088                                             1,092                                             1,099                                                1,106                                             1%                                7%
      Corporate Retirement Plan Participants                                  1,519                                             1,518                                             1,523                                             1,532                                             1,532                                             1,555                                             1,553                                             1,559                                             1,565                                             1,561                                             1,547                                             1,550                                                1,543                                              -                                2%
Client Activity
   New Brokerage Accounts (in thousands)                                         98                                                83                                                84                                                98                                               103                                                81                                                87                                                84                                                96                                                84                                                84                                                93                                                  116                                             25%                               18%
   Inbound Calls (in thousands)                                               1,844                                             1,736                                             1,737                                             1,902                                             1,867                                             1,554                                             1,665                                             1,605                                             1,755                                             1,633                                             1,565                                             1,642                                                1,931                                             18%                               5%
   Web Logins (in thousands)                                                 32,156                                            33,268                                            33,283                                            38,078                                            37,854                                            38,000                                            43,220                                            46,217                                            42,627                                            38,237                                            35,429                                            37,687                                               40,720                                             8%                                27%
   Client Cash as a Percentage of Client Assets (3)                            13.0 %                                            13.7 %                                            13.7 %                                            13.1 %                                            12.8 %                                            12.7 %                                            12.6 %                                            12.5 %                                            12.5 %                                            12.5 %                                            12.8 %                                            12.8 %                                               13.0 %                                          20 bp                               -
Mutual Fund and Exchange-Traded Fund
   Net Buys (Sells) (4, 5)
   (in millions of dollars)
      Large Capitalization Stock                                                451                                              (162 )                                            (212 )                                            (462 )                                            (857 )                                            (799 )                                             185                                            (1,173 )                                            (755 )                                          (1,209 )                                            (652 )                                             200                                                  565
      Small / Mid Capitalization Stock                                         (572 )                                            (952 )                                              58                                               685                                               (86 )                                            (272 )                                            (113 )                                            (320 )                                            (214 )                                             460                                              (190 )                                             877                                                1,103
      International                                                            (918 )                                             469                                               (28 )                                             833                                               324                                              (207 )                                          (1,208 )                                            (347 )                                             386                                               (26 )                                              (1 )                                             348                                                 (683 )
      Specialized                                                              (495 )                                            (668 )                                             260                                               191                                               815                                               265                                               470                                               357                                               189                                              (274 )                                            (159 )                                          (1,019 )                                                 20
      Hybrid                                                                 (1,361 )                                            (377 )                                              38                                               281                                                14                                             1,133                                              (403 )                                            (463 )                                            (219 )                                              58                                              (432 )                                            (687 )                                               (456 )
      Taxable Bond                                                           (4,020 )                                              99                                               546                                             1,628                                             1,098                                             1,526                                             1,421                                             1,420                                             1,888                                             1,585                                             1,475                                            (1,110 )                                              1,045
      Tax-Free Bond                                                             731                                               379                                               641                                               949                                               479                                               940                                               700                                               766                                               920                                               539                                                20                                            (1,090 )                                             (1,692 )
Net Buy (Sell) Activity
   (in millions of dollars)
      Mutual Funds (4)                                                      (10,988 )                                          (1,215 )                                             197                                             1,769                                              (207 )                                             620                                            (2,049 )                                          (1,683 )                                            (297 )                                            (656 )                                          (1,979 )                                          (5,864 )                                             (5,825 )
      Exchange-Traded Funds (5)                                               4,804                                                 3                                             1,106                                             2,336                                             1,994                                             1,966                                             3,101                                             1,923                                             2,492                                             1,789                                             2,040                                             3,383                                                5,727
      Money Market Funds                                                      4,538                                             1,994                                             1,359                                            (2,101 )                                          (3,959 )                                            (738 )                                          (1,799 )                                             701                                              (768 )                                            (658 )                                             211                                             1,851                                                1,141
Average Interest-Earning Assets (6)
   (in millions of dollars)                                                 172,334                                           177,332                                           178,610                                           181,529                                           183,341                                           184,432                                           187,933                                           191,850                                           194,268                                           199,107                                           201,894                                           206,970                                              212,052                          2%                                23%
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    ---------- --------------------
(1)   May 2016 includes an inflow of $2.7 billion from a mutual fund
                         clearing services client.
(2)                      Excludes Retirement Business Services Trust and Corporate Brokerage
                         Retirement Services.
(3)                      Schwab One(R), certain cash equivalents, bank deposits and
                         money market fund balances as a percentage of total client assets.
(4)                      Represents the principal value of client mutual fund transactions
                         handled by Schwab, including transactions in proprietary funds.
                         Includes institutional funds available only to Investment Managers.
                         Excludes money market fund transactions.
(5)                      Represents the principal value of client ETF transactions handled by
                         Schwab, including transactions in proprietary ETFs.
(6)                      Represents average total interest-earning assets on the Company’s
                         balance sheet.
                          

http://cts.businesswire.com/ct/CT?id=bwnews&sty=20170118005364r1&sid=cmtx6&distro=nx&lang=en

View source version on businesswire.com: http://www.businesswire.com/news/home/20170118005364/en/

SOURCE: The Charles Schwab Corporation"> <Property FormalName="PrimaryTwitterHandle" Value="@CharlesSchwab

MEDIA: 
Charles Schwab 
Joe Carberry, 415-667-1677 
or 
INVESTORS/ANALYSTS: 
Charles Schwab 
Rich Fowler, 415-667-1841


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