Navy Federal Credit Union 2014 Annual Report Download - page 20

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Navy Federal Credit Union2
Consolidated Statements of Financial Condition
As of December 31,
(dollars in thousands) 2014 2013
Assets
Cash $ 425,961 $ 501,906
Short-term investments 353,052 415,003
Securities available-for-sale 12,986,192 11,903,235
Securities held-to-maturity 369,084 377,034
Mortgage loans awaiting sale 572,420 507,948
Loans to members, net of allowance for loan losses of $752,835
at December 31, 2014 and $639,239 at December 31, 2013 45,461,552 38,993,423
Interest-bearing deposits 1,727 740
Accounts receivable 869,892 369,578
Accrued interest receivable 195,995 179,854
Property, plant and equipment, net 1,017,742 893,329
Investments in FHLBs 462,877 332,631
NCUSIF deposit 403,184 369,058
Mortgage servicing rights 235,801 236,579
Prepaid expenses 49,447 38,939
Goodwill and other intangible assets, net 58,905 59,288
Other assets 181,827 352,126
Total assets $ 63,645,658 $ 55,530,671
Liabilities and Members’ Equity
Members’ accounts
Checking accounts 8,147,795 6,914,178
Savings accounts 10,786,976 9,762,504
Money market accounts 9,401,380 8,588,012
Share certificate accounts 11,157,662 10,271,171
Individual retirement accounts 4,660,386 4,488,176
Total members’ accounts 44,154,199 40,024,041
Liabilities
Securities sold under repurchase agreements 1,469,502 1,404,299
Notes payable 9,942,200 6,923,835
Drafts payable 220,940 223,167
Accrued expenses and accounts payable 586,983 480,245
Accrued interest payable 26,202 25,169
Other liabilities 273,709 212,614
Total members' accounts and liabilities 56,673,735 49,293,370
Members’ Equity
Regular reserve 349,808 349,808
Capital reserve 6,732,510 6,012,723
Undivided earnings 50,000 50,000
Accumulated other comprehensive (loss) (160,395) (175,230)
Total members’ equity 6,971,923 6,237,301
Total liabilities and members’ equity $ 63,645,658 $ 55,530,671
The accompanying notes are an integral part of these consolidated financial statements.