SunTrust 2013 Annual Report Download - page 136

Notes to Consolidated Financial Statements, continued
120
NOTE 5 – SECURITIES AVAILABLE FOR SALE
Securities Portfolio Composition
December 31, 2013
(Dollars in millions)
Amortized
Cost
Unrealized
Gains
Unrealized
Losses
Fair
Value
U.S. Treasury securities $1,334 $6 $47 $1,293
Federal agency securities 1,028 13 57 984
U.S. states and political subdivisions 232 7 2 237
MBS - agency 18,915 421 425 18,911
MBS - private 155 1 2 154
ABS 782179
Corporate and other debt securities 39 3—42
Other equity securities1841 1 — 842
Total securities AFS $22,622 $454 $534 $22,542
December 31, 2012
(Dollars in millions)
Amortized
Cost
Unrealized
Gains
Unrealized
Losses
Fair
Value
U.S. Treasury securities $212 $10 $— $222
Federal agency securities 1,987 85 3 2,069
U.S. states and political subdivisions 310 15 5 320
MBS - agency 17,416 756 3 18,169
MBS - private 205 4 — 209
ABS 214 5 3 216
Corporate and other debt securities 42 4—46
Other equity securities1701 1 — 702
Total securities AFS $21,087 $880 $14 $21,953
1 At December 31, 2013, other equity securities was comprised of the following: $336 million in FHLB of Atlanta stock, $402 million in Federal Reserve
Bank stock, $103 million in mutual fund investments, and $1 million of other. At December 31, 2012, other equity securities was comprised of the following:
$229 million in FHLB of Atlanta stock, $402 million in Federal Reserve Bank stock, $69 million in mutual fund investments, and $2 million of other.
The following table presents interest and dividends on securities AFS:
Year Ended December 31
(Dollars in millions) 2013 2012 2011
Taxable interest $537 $579 $688
Tax-exempt interest 10 15 21
Dividends132 61 82
Total interest and dividends $579 $655 $791
1 Includes dividends on the Coke common stock of $31 million and $56 million, for the years ended December 31, 2012 and 2011, respectively.
Securities AFS that were pledged to secure public deposits, repurchase agreements, trusts, and other funds had a fair value of
$11.0 billion and $10.6 billion at December 31, 2013 and 2012, respectively. At December 31, 2013 and 2012, there were no
securities AFS pledged under secured borrowing arrangements under which the secured party has possession of the collateral
and would customarily sell or repledge that collateral, other than in an event of default of the Company.
During the year ended December 31, 2012, the Company accelerated the termination of the Agreements that hedged the Coke
common stock, and the Company sold, in the market or to the Coke Counterparty, 59 million of its 60 million shares of Coke
and contributed the remaining 1 million shares of Coke to the SunTrust Foundation for a net gain of $1.9 billion. The $38
million contribution to the SunTrust Foundation was recognized in noninterest expense. Details of the transactions are discussed
in Note 16, "Derivative Financial Instruments."