eTrade 2002 Annual Report Download - page 121
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Table of Contents
Index to Financial Statements
5. MORTGAGE-BACKED SECURITIES, AVAILABLE-FOR-SALE
The amortized cost basis and estimated fair values of mortgage-backed securities, available-for-sale at December 31, 2002 and 2001 are shown
as follows (in thousands):
Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Values
December 31, 2002:
Private issuer and other $ 14,479 $ 380 $ (397 ) $ 14,462
U.S. government sponsored enterprise obligations 4,056,474 13,227 (15,223 ) 4,054,478
Collateralized mortgage obligations 2,869,427 12,077 (18,050 ) 2,863,454
Total $ 6,940,380 $ 25,684 $ (33,670 ) $ 6,932,394
December 31, 2001:
Private issuer and other $ 68,974 $ 1,077 $ (971 ) $ 69,080
U.S. government sponsored enterprise obligations 1,686,329 4,375 (41,615 ) 1,649,089
Collateralized mortgage obligations 1,865,353 8,531 (35,434 ) 1,838,450
Total $ 3,620,656 $ 13,983 $ (78,020 ) $ 3,556,619
The contractual principal maturities, excluding any anticipated prepayments, of mortgage-backed securities available-for-sale at December 31,
2002 are shown as follows (in thousands):
Amortized Cost Estimated Fair Values
Due within one to five years $ — $ —
Due within five to ten years 21,043 21,075
Due after ten years 6,919,337 6,911,319
Total $ 6,940,380 $ 6,932,394
The Company pledged $6.1 billion at December 31, 2002 and $3.3 billion at December 31, 2001 of mortgage-backed securities as collateral for
repurchase agreements, short-term borrowings, derivative instruments and FHLB advances.
Realized gains and losses from sales of mortgage-backed securities, available-for-sale were as follows (in thousands):
Year Ended December31, ThreeMonths Ended December31,
2000 Year Ended September30,
2000
2002 2001
Realized gains $ 90,693 $ 57,387 $ 9,871 $ 3,877
Realized losses (24,014 ) (5,030 ) (42 )
(403 )
Impairment
charges
(16,603 )(1) (534 )(1) — —
Net realized gains $ 50,076 $ 51,823 $ 9,829 $ 3,474
2003. EDGAR Online, Inc.