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Notes to Consolidated Financial Statements, continued
90
NOTE 5 – SECURITIES AVAILABLE FOR SALE
Securities Portfolio Composition
December 31, 2015
(Dollars in millions)
Amortized
Cost
Unrealized
Gains
Unrealized
Losses
Fair
Value
U.S. Treasury securities $3,460 $3 $14 $3,449
Federal agency securities 402 10 1 411
U.S. states and political subdivisions 156 8 — 164
MBS - agency 22,877 397 150 23,124
MBS - private 92 2 — 94
ABS 11 2 1 12
Corporate and other debt securities 37 1 — 38
Other equity securities 1533 1 1 533
Total securities AFS $27,568 $424 $167 $27,825
December 31, 2014
(Dollars in millions) Amortized
Cost
Unrealized
Gains
Unrealized
Losses
Fair
Value
U.S. Treasury securities $1,913 $9 $1 $1,921
Federal agency securities 471 15 2 484
U.S. states and political subdivisions 200 9 — 209
MBS - agency 22,573 558 83 23,048
MBS - private 122 2 1 123
ABS 19 2 — 21
Corporate and other debt securities 38 3 — 41
Other equity securities 1921 2 — 923
Total securities AFS $26,257 $600 $87 $26,770
1 At December 31, 2015, the fair value of other equity securities was comprised of the following: $32 million of FHLB of Atlanta stock, $402 million of Federal Reserve Bank
of Atlanta stock, $93 million of mutual fund investments, and $6 million of other.
At December 31, 2014, the fair value of other equity securities was comprised of the following: $376 million of FHLB of Atlanta stock, $402 million of Federal Reserve Bank
of Atlanta stock, $138 million of mutual fund investments, and $7 million of other.
The following table presents interest and dividends on securities AFS:
Year Ended December 31
(Dollars in millions) 2015 2014 2013
Taxable interest $552 $565 $537
Tax-exempt interest 610 10
Dividends 35 38 32
Total interest and dividends $593 $613 $579
Securities AFS pledged to secure public deposits, repurchase agreements, trusts, and other funds had a fair value of $3.2 billion and
$2.6 billion at December 31, 2015 and 2014, respectively.