Subsequent Event

6 Months Ended

Jun. 30, 2012

Subsequent Event

13. Subsequent Event

On July 31, 2012, the Company announced its decision to redeem all of the fixed-to-floating rate trust preferred securities of $300 million issued by Schwab Capital Trust I (the Trust). The trust preferred securities are being redeemed, along with the common securities issued by the Trust and held by the Company, as a result of the concurrent redemption in whole by the Company of the Junior Subordinated Notes held by the Trust which underlie the trust preferred securities. The redemption date for the trust preferred securities will be August 31, 2012, and the redemption price will be 100% of the liquidation amount of each trust preferred security, plus accumulated and unpaid distributions up to and including the redemption date. After the redemption date, the trust preferred securities will no longer be outstanding and distributions will no longer accrue.