PNC Bank 2002 Annual Report Download - page 87

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85
NOTE 9 SECURITIES
Amortized Unrealized Fair
In millions Cost Gains Losses Value
December 31, 2002
SECURITIES
A
V
AILABLE FOR S
A
LE
Debt securities
U.S. Treasury and government agencies $813 $13 $826
Mortgage-backed 8,916 189 $(2) 9,103
A
sset-backed 2
,
699 83
(
2
)
2
,
780
State and municipal 61 2 63
Other debt 58 3 61
T
otal debt securities 12
,
547 290
(
4
)
12
,
833
Cor
p
orate stocks and other 597 1
(
13
)
585
Total securities available for sale $13,144 $291 $(17) $13,418
SECURITIES HELD TO MATURITY
Debt securities
U.S. Treasury and government agencies $276 $33 $309
A
sset-backed 88
Other debt 61 61
Total debt securities 345 33 378
Total securities held to maturity $345 $33 $378
December 31
,
2001
SECURITIES
A
V
AILABLE FOR S
A
LE
Debt securities
U.S. Treasury and government agencies $808 $3 $(4) $807
Mortgage-backed 9,669 37 (128) 9,578
A
sset-backed 2
,
799 8
(
31
)
2
,
776
State and municipal 62 2 64
Other debt 75 1
(
1
)
75
T
otal debt securities 13
,
413 51
(
164
)
13
,
300
Corporate stocks and other 264 (19) 245
Total securities available for sale $13,677 $51 $(183) $13,545
SECURITIES HELD TO MATURITY
Debt securities
U.S. Treasury and government agencies $260 $(3) $257
Asset-backed 8 8
Other debt 95 95
T
otal debt securities 363
(
3
)
360
T
otal securities held to maturit
y
$363 $
(
3
)
$360
De
c
em
b
er
3
1
,
2
000
SECURITIES AVAILABLE FOR SALE
Debt securities
U.S. Treasury and government agencies $313 $1 $(1) $313
Mortgage-backed 4,197 14 (48) 4,163
Asset-backed 742 (10) 732
State and municipal 94 2 96
Other debt 73 1 (1) 73
T
otal debt securities 5,419 18
(
60
)
5,377
Corporate stocks and other 537 2 (14) 525
T
otal securities available for sale $5,956 $20 $
(
74
)
$5,902
Total securities at December 31, 2002 were $13.8 billion
compared with $13.9 billion at December 31, 2001 and $5.9
billion at December 31, 2000. Securities represented 21% of
total assets at December 31, 2002 compared with 20% at
December 31, 2001 and 8% at December 31, 2000.
The expected weighted-average life of securities available
for sale was 2 years and 8 months at December 31, 2002
compared with 4 years at December 31, 2001 and 4 years and
5 months at December 31, 2000.