PNC Bank 2007 Annual Report Download - page 127

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S
HORT
-T
ERM
B
ORROWINGS
Federal funds purchased include overnight borrowings and term federal funds, which are payable at maturity.
2007 2006 2005
Dollars in millions Amount Rate Amount Rate Amount Rate
Federal funds purchased
Year-end balance $7,037 3.17% $2,711 5.24% $4,128 4.07%
Average during year 5,533 5.13 3,081 5.10 2,098 3.38
Maximum month-end balance during year 8,798 4,226 4,128
S
ELECTED
L
OAN
M
ATURITIES AND
I
NTEREST
S
ENSITIVITY
December 31, 2007
In millions
1 Year
or Less
1 Through
5 Years
After
5 Years
Gross
Loans
Commercial $9,670 $15,017 $3,920 $28,607
Real estate projects 3,124 2,461 529 6,114
Total $12,794 $17,478 $4,449 $34,721
Loans with
Predetermined
rate $2,486 $3,157 $2,089 $7,732
Floating or
adjustable rate 10,308 14,321 2,360 26,989
Total $12,794 $17,478 $4,449 $34,721
At December 31, 2007, $1.1 billion notional of pay-fixed
interest rate swaps were designated to commercial loans as
part of fair value hedge strategies. The changes in fair value of
the loans attributable to the hedged risk are included in the
commercial loan amount in the above table. In addition, $7.9
billion notional amount of receive-fixed interest rate swaps
were designated as part of cash flow hedging strategies that
converted the floating rate (1 month LIBOR, 3 month LIBOR
and Prime) on the underlying commercial loans to a fixed rate
as part of risk management strategies.
T
IME
D
EPOSITS
O
F
$100,000 O
R
M
ORE
Time deposits in foreign offices totaled $7.4 billion at
December 31, 2007, substantially all of which are in
denominations of $100,000 or more.
The following table sets forth maturities of domestic time
deposits of $100,000 or more:
December 31, 2007 – in millions
Certificates
of Deposit
Three months or less $2,628
Over three through six months 1,983
Over six through twelve months 893
Over twelve months 1,930
Total $7,434
C
OMMON
S
TOCK
P
RICES
/D
IVIDENDS
D
ECLARED
The table below sets forth by quarter the range of high and
low sale and quarter-end closing prices for our common stock
and the cash dividends we declared per common share.
High Low Close
Cash
Dividends
Declared
2007 Quarter
First $76.41 $68.60 $71.97 $.55
Second 76.15 70.31 71.58 .63
Third 75.99 64.00 68.10 .63
Fourth 74.56 63.54 65.65 .63
Total $2.44
2006 Quarter
First $71.42 $61.78 $67.31 $.50
Second 72.00 65.30 70.17 .55
Third 73.55 68.09 72.44 .55
Fourth 75.15 67.61 74.04 .55
Total $2.15
122