Navy Federal Credit Union 2011 Annual Report Download - page 18

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NAVY FEDERAL CREDIT UNION2
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(dollars in thousands)
Years Ended December 31 2011 2010
ASSETS
Cash $ 307,231 $ 348,864
Short-term investments 1,440,626 952,693
Securities available-for-sale 11,186,686 8,755,689
Securities held-to-maturity 794,529 844,519
Mortgage loans awaiting sale 692,740 437,454
Loans to members, net of allowance for loan losses of $602,388
at December 31, 2011 and $616,140 at December 31, 2010 30,191,509 30,132,998
Investment in FHLB–Atlanta 374,359 399,966
Interest-bearing deposits 8,781 10,381
Other investments 5,427 5,910
Accounts receivable 284,490 650,838
Accrued interest receivable 169,528 156,005
Fixed assets 829,863 793,997
NCUSIF deposit 307,180 287,866
Mortgage servicing rights 142,368 161,150
Prepaid expenses 31,053 37,109
Intangible assets, net of amortization 60,307 60,563
Other assets 98,802 162,368
Total assets 46,925,479 44,198,370
LIABILITIES AND MEMBERS’ EQUITY
Members’ accounts
Savings accounts 7,637,920 6,741,838
Money market savings accounts 6,822,286 6,205,714
Checking accounts 5,601,077 4,789,252
Share certicate accounts 9,493,829 9,595,293
Individual retirement accounts 4,084,953 3,903,791
Total members’ accounts 33,640,065 31,235,888
Liabilities
Notes payable 7,605,185 8,238,775
Dras payable 158,005 148,391
Accrued expenses and accounts payable 303,069 269,237
Accrued interest payable 23,727 25,054
Other liabilities 116,613 74,932
Total members’ accounts and liabilities 41,846,664 39,992,277
Members’ Equity
Regular reserve 349,808 349,808
Capital reserve 4,556,465 3,907,137
Undivided earnings 50,000 50,000
Accumulated other comprehensive income 122,542 (100,852)
Total members’ equity 5,078,815 4,206,093
Total liabilities and members’ equity $ 46,925,479 $ 44,198,370
e accompanying notes (beginning on page 6) are an integral part of these consolidated nancial statements.