Navy Federal Credit Union 2014 Annual Report Download - page 33

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Financial Section 15
2014 | A YEAR IN REVIEW
(dollars in thousands) Less than 12 months 12 months or longer Total
December 31, 2014 Fair Value Gross
Unrealized
(Losses)
Fair
Value
Gross
Unrealized
(Losses)
Fair
Value
Gross
Unrealized
(Losses)
Held-to-maturity securities
U.S. government and
federal agency securities $ — $ — $ 100,023 $ (648) $ 100,023 $ (648)
Total held-to-maturity — — 100,023 (648) 100,023 (648)
Available-for-sale securities
U.S. government and
federal agency securities 380,383 (2,477) 665,776 (11,881) 1,046,159 (14,358)
Residential mortgage-
backed securities — —
Agency 372,095 (1,075) 1,671,086 (31,838) 2,043,181 (32,913)
Non-agency 142,252 (662) 217,587 (12,734) 359,839 (13,396)
Commercial mortgage-
backed securities — — — — — —
Bank notes 239,090 (763) 375,864 (3,813) 614,954 (4,576)
Municipal securities — — 93,633 (2,179) 93,633 (2,179)
Mutual funds — — 11,016 (133) 11,016 (133)
Total available-for-sale 1,133,820 (4,977) 3,034,962 (62,578) 4,168,782 (67,555)
Total securities $ 1,133,820 $ (4,977) $ 3,134,985 $ (63,226) $ 4,268,805 $ (68,203)
(dollars in thousands) Less than 12 months 12 months or longer Total
December 31, 2013 Fair
Value
Gross
Unrealized
(Losses)
Fair
Value
Gross
Unrealized
(Losses)
Fair
Value
Gross
Unrealized
(Losses)
Held-to-maturity securities
U.S. government and
federal agency securities $ 146,059 $ (4,506) $ — $ — $ 146,059 $ (4,506)
Residential mortgage-
backed securities 2,536 (1) — — 2,536 (1)
Total held-to-maturity 148,595 (4,507) — — 148,595 (4,507)
Available-for-sale securities
U.S. government and
federal agency securities 2,159,788 (81,850) 62,396 (7,075) 2,222,184 (88,925)
Residential mortgage-
backed securities — — — —
Agency 3,004,397 (130,424) 163,182 (13,194) 3,167,579 (143,618)
Non-agency 189,042 (25,438) 36,684 (1,788) 225,726 (27,226)
Commercial mortgage-
backed securities — — — — — —
Bank notes 542,626 (11,761) 97,069 (2,931) 639,695 (14,692)
Municipal securities 187,776 (23,159) — — 187,776 (23,159)
Mutual funds 10,879 (163) — — 10,879 (163)
Total available-for-sale 6,094,508 (272,795) 359,331 (24,988) 6,453,839 (297,783)
Total securities $ 6,243,103 $ (277,302) $ 359,331 $ (24,988) $ 6,602,434 $ (302,290)