Quarterly report pursuant to Section 13 or 15(d)

HELD-TO-MATURITY SECURITIES (Tables)

v3.7.0.1
HELD-TO-MATURITY SECURITIES (Tables)
6 Months Ended
Jun. 30, 2017
Held-to-maturity Securities [Abstract]  
Contractual maturities of held-to-maturity securities
Listed below are the contractual maturities of held-to-maturity securities at June 30, 2017 and December 31, 2016:
 
June 30, 2017
 
December 31, 2016
(dollar amounts in thousands)
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
Federal agencies: mortgage-backed securities:
 
 
 
 
 
 
 
1 year or less
$

 
$

 
$

 
$

After 1 year through 5 years

 

 

 

After 5 years through 10 years
70,527

 
70,355

 
41,261

 
40,791

After 10 years
7,634,775

 
7,616,513

 
7,157,083

 
7,139,943

Total Federal agencies: mortgage-backed securities
7,705,302

 
7,686,868

 
7,198,344

 
7,180,734

Other agencies:
 
 
 
 
 
 
 
1 year or less

 

 

 

After 1 year through 5 years

 

 

 

After 5 years through 10 years
376,837

 
376,750

 
398,341

 
399,452

After 10 years
191,592

 
190,149

 
204,083

 
201,180

Total other agencies
568,429

 
566,899

 
602,424

 
600,632

Total U.S. Government backed agencies
8,273,731

 
8,253,767

 
7,800,768

 
7,781,366

Municipal securities:
 
 
 
 
 
 
 
1 year or less

 

 

 

After 1 year through 5 years

 

 

 

After 5 years through 10 years

 

 

 

After 10 years
5,846

 
5,635

 
6,171

 
5,902

Total municipal securities
5,846

 
5,635

 
6,171

 
5,902

Total held-to-maturity securities
$
8,279,577

 
$
8,259,402

 
$
7,806,939

 
$
7,787,268

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 June 30, 2017 and December 31, 2016:
 
 
 
Unrealized
 
 
(dollar amounts in thousands)
Amortized
Cost
 
Gross
Gains
 
Gross
Losses
 
Fair Value
June 30, 2017
 
 
 
 
 
 
 
Federal agencies:
 
 
 
 
 
 
 
Mortgage-backed securities
$
7,705,302

 
$
17,950

 
$
(36,384
)
 
$
7,686,868

Other agencies
568,429

 
1,374

 
(2,904
)
 
566,899

Total U.S. Government backed agencies
8,273,731

 
19,324

 
(39,288
)
 
8,253,767

Municipal securities
5,846

 

 
(211
)
 
5,635

Total held-to-maturity securities
$
8,279,577

 
$
19,324

 
$
(39,499
)
 
$
8,259,402

 
 
 
Unrealized
 
 
(dollar amounts in thousands)
Amortized
Cost
 
Gross
Gains
 
Gross
Losses
 
Fair Value
December 31, 2016
 
 
 
 
 
 
 
Federal agencies:
 
 
 
 
 
 
 
Mortgage-backed securities
$
7,198,344

 
$
20,883

 
$
(38,493
)
 
$
7,180,734

Other agencies
602,424

 
1,690

 
(3,482
)
 
600,632

Total U.S. Government backed agencies
7,800,768

 
22,573

 
(41,975
)
 
7,781,366

Municipal securities
6,171

 

 
(269
)
 
5,902

Total held-to-maturity securities
$
7,806,939

 
$
22,573

 
$
(42,244
)
 
$
7,787,268

Investment securities in an unrealized loss position
The following tables provide detail on held-to-maturity securities with unrealized gross losses aggregated by investment category and the length of time the individual securities have been in a continuous loss position, at June 30, 2017 and December 31, 2016:
 
Less than 12 Months
 
Over 12 Months
 
Total
(dollar amounts in thousands)
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
June 30, 2017
 
 
 
 
 
 
 
 
 
 
 
Federal agencies:
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities
$
4,606,283

 
$
(31,348
)
 
$
160,437

 
$
(5,036
)
 
$
4,766,720

 
$
(36,384
)
Other agencies
375,023

 
(2,904
)
 

 

 
375,023

 
(2,904
)
Total U.S. Government backed securities
4,981,306

 
(34,252
)
 
160,437

 
(5,036
)
 
5,141,743

 
(39,288
)
Municipal securities
5,635

 
(211
)
 

 

 
5,635

 
(211
)
Total temporarily impaired securities
$
4,986,941

 
$
(34,463
)
 
$
160,437

 
$
(5,036
)
 
$
5,147,378

 
$
(39,499
)
 
Less than 12 Months
 
Over 12 Months
 
Total
(dollar amounts in thousands)
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
Federal agencies:
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities
$
2,855,360

 
$
(31,470
)
 
$
186,226

 
$
(7,023
)
 
$
3,041,586

 
$
(38,493
)
Other agencies
413,207

 
(3,482
)
 

 

 
413,207

 
(3,482
)
Total U.S. Government backed securities
3,268,567

 
(34,952
)
 
186,226

 
(7,023
)
 
3,454,793

 
(41,975
)
Municipal securities
5,902

 
(269
)
 

 

 
5,902

 
(269
)
Total temporarily impaired securities
$
3,274,469

 
$
(35,221
)
 
$
186,226

 
$
(7,023
)
 
$
3,460,695

 
$
(42,244
)