Annual report pursuant to Section 13 and 15(d)

Held To Maturity Securities (Tables)

v2.4.0.8
Held To Maturity Securities (Tables)
 12 Months Ended
Dec. 31, 2013
Held to Maturity Securities [Abstract]  
Contractual maturities of held-to-maturity securities

Listed below are the contractual maturities (under 1 year, 1-5 years, 6-10 years, and over 10 years) of held-to-maturity securities at December 31, 2013 and 2012:

 

        December 31, 2013     December 31, 2012
        Amortized     Fair     Amortized      
(dollar amounts in thousands)   Cost     Value     Cost     Fair Value
  Federal agencies: mortgage-backed securities:                      
    Under 1 year $ ---   $ ---   $ ---   $ ---
    1-5 years   ---     ---     ---     ---
    6-10 years   24,901     22,549     24,901     24,739
    Over 10 years   3,574,156     3,506,018     1,624,483     1,672,702
  Total Federal agencies: mortgage-backed securities 3,599,057     3,528,567     1,649,384     1,697,441
  Other agencies:                      
    Under 1 year   ---     ---     ---     ---
    1-5 years   ---     ---     ---     ---
    6-10 years   38,588     39,075     15,108     15,338
    Over 10 years   189,999     185,097     69,399     71,341
  Total other agencies   228,587     224,172     84,507     86,679
Total U.S. Government backed agencies   3,827,644     3,752,739     1,733,891     1,784,120
Municipal securities:                      
  Under 1 year   ---     ---     ---     ---
  1-5 years   ---     ---     ---     ---
  6-10 years ---     ---     ---     ---
  Over 10 years   9,023     8,159     9,985     9,985
Total municipal securities   9,023     8,159     9,985     9,985
Total held-to-maturity securities $ 3,836,667   $ 3,760,898   $ 1,743,876   $ 1,794,105
                           
Amortized cost, gross unrealized gains and losses, and fair value by investment category

The following table provides amortized cost, gross unrealized gains and losses, and fair value by investment category at December 31, 2013 and 2012:

            Unrealized      
      Amortized     Gross     Gross     Fair
(dollar amounts in thousands)   Cost     Gains     Losses     Value
December 31, 2013                      
Federal Agencies:                      
  Mortgage-backed securities $ 3,599,057   $ 5,573   $ (76,063)   $ 3,528,567
  Other agencies   228,587     776     (5,191)     224,172
Total U.S. Government                      
  backed securities   3,827,644     6,349     (81,254)     3,752,739
Municipal securities   9,023     ---     (864)     8,159
Total held-to-maturity securities $ 3,836,667   $ 6,349   $ (82,118)   $ 3,760,898
                         
            Unrealized      
      Amortized     Gross     Gross     Fair
(dollar amounts in thousands)   Cost     Gains     Losses     Value
December 31, 2012                      
Federal Agencies:                      
  Mortgage-backed securities $ 1,649,384   $ 48,219   $ (162)   $ 1,697,441
  Other agencies   84,507     2,172     ---     86,679
Total U.S. Government                      
  backed securities   1,733,891     50,391     (162)     1,784,120
Municipal securities   9,985     ---     ---     9,985
Total held-to-maturity securities $ 1,743,876   $ 50,391   $ (162)   $ 1,794,105
Investment securities in an unrealized loss position
      Less than 12 Months     Over 12 Months     Total
      Fair     Unrealized     Fair     Unrealized     Fair     Unrealized
(dollar amounts in thousands )   Value     Losses     Value     Losses     Value     Losses
December 31, 2013                                  
Federal Agencies:                                  
  Mortgage-backed securities $ 2,849,198   $ (73,711)   $ 22,548   $ (2,352)   $ 2,871,746   $ (76,063)
  Other agencies   144,417     (5,191)     ---     ---     144,417     (5,191)
Total U.S. Government backed securities   2,993,615     (78,902)     22,548     (2,352)     3,016,163     (81,254)
                                     
Municipal securities   8,159     (864)     ---     ---     8,159     (864)
Total temporarily impaired securities $ 3,001,774   $ (79,766)   $ 22,548   $ (2,352)   $ 3,024,322   $ (82,118)
                                     
      Less than 12 Months     Over 12 Months     Total
      Fair     Unrealized     Fair     Unrealized     Fair     Unrealized
(dollar amounts in thousands )   Value     Losses     Value     Losses     Value     Losses
December 31, 2012                                  
Federal Agencies:                                  
  Mortgage-backed securities $ 24,739   $ (162)   $ ---   $ ---   $ 24,739   $ (162)
Total U.S. Government backed securities   24,739     (162)     ---     ---     24,739     (162)
                                     
Total temporarily impaired securities $ 24,739   $ (162)   $ ---   $ ---   $ 24,739   $ (162)