Navy Federal Credit Union 2005 Annual Report Download - page 32

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2
Consolidated Statements of Financial Condition
(dollars in thousands)
The accompanying notes (beginning on page 6) are an integral part of these consolidated financial statements.
December 31 2005 2004
ASSETS
Cash $ 349,216 $ 255,882
Short term investments 2,816,010 3,623,707
Securities available-for-sale 7,891 12,915
Securities held-to-maturity 2,875,428 2,591,845
Mortgage loans awaiting sale 241,209 321,268
Loans to members, net of allowance for loan losses of $201,102
at December 31, 2005 and $161,889 at December 31, 2004 16,502,095 14,302,380
Investment in FHLB-Atlanta 26,458 26,458
Interest bearing deposits 579,594 655,369
Other investments 2,221 2,226
Accounts receivable 455,096 403,823
Accrued interest receivable 90,769 82,562
Fixed assets 257,871 237,712
NCUSIF deposit 164,484 150,979
Mortgage servicing assets, net of accumulated amortization and impairment 131,667 102,384
Prepaid expenses 121,929 102,728
Other assets 22,419 24,689
Total assets 24,644,357 22,896,927
LIABILITIES AND MEMBERS’ EQUITY
Liabilities
Securities sold under repurchase agreements 2,690,873 2,578,674
Notes payable 32,400 32,400
Drafts payable 168,421 138,979
Dividends payable 106 780
Accrued expenses and accounts payable 111,852 97,128
Accrued interest payable 5,898 3,551
Other liabilities 2,102 529
Total liabilities 3,011,652 2,852,041
Members’ Equity
Members’ accounts
Share savings accounts 6,255,682 6,170,686
Money market savings accounts 2,142,609 1,707,381
Sharechek accounts 3,173,550 2,845,671
Share certificate accounts 5,153,089 4,846,762
Individual retirement accounts 2,215,345 2,048,269
Total members’ accounts 18,940,275 17,618,769
Reserves and undivided earnings
Regular reserve 349,406 349,406
Capital reserve 2,323,133 2,056,796
Undivided earnings 20,000 20,000
Accumulated other comprehensive income (109) (85)
Total reserves and undivided earnings 2,692,430 2,426,117
Total members’ equity 21,632,705 20,044,886
Total liabilities and members’ equity $ 24,644,357 $ 22,896,927