Bank of the West 2014 Annual Report Download - page 43

Download and view the complete annual report

Please find page 43 of the 2014 Bank of the West annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 64

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64

The following tables present the financial assets and financial liabilities measured at fair value on a recurring basis
by category and by valuation hierarchy level:
As of December 31, 2014
(dollars in thousands) Level 1 Level 2 Level 3 Total
Trading assets $ 6,499 $ - $ - $ 6,499
Securities available for sale:
U.S. Treasury and other U.S. Government agencies and corporations 1,788,589 101 - 1,788,690
Residential mortgage-backed securities:
Government agencies - 3,504,098 - 3,504,098
Government sponsored agencies - 1,865,522 - 1,865,522
Collateralized debt and loan obligations - 64,794 - 64,794
Other asset-backed securities -13114
Collateralized mortgage obligations:
Government agencies - 1,017,430 - 1,017,430
Government sponsored agencies - 309,506 - 309,506
States and political subdivisions - 465,705 36,414 502,119
Corporate debt securities - 197,507 - 197,507
Equity securities 6,164 - - 6,164
Total securities available for sale 1,794,753 7,424,676 36,415 9,255,844
Derivative assets(1):
Interest rate contracts - 227,148 - 227,148
Foreign exchange contracts - 13,354 - 13,354
Market-linked swaps and purchased options - - 68,079 68,079
Credit guarantee derivative - - 2,650 2,650
Total derivative assets - 240,502 70,729 311,231
Deferred compensation plan and other assets 34,913 112 11 35,036
Total assets measured at fair value on a recurring basis $1,836,165 $7,665,290 $107,155 $9,608,610
Derivative liabilities(1)
Interest rate contracts $ - $ 214,787 $ - $ 214,787
Foreign exchange contracts - 14,674 - 14,674
Written market-linked options - - 68,138 68,138
Total derivative liabilities - 229,461 68,138 297,599
Other liabilities -4-4
Total liabilities measured at fair value on a recurring basis $ - $ 229,465 $ 68,138 $ 297,603
(1) These amounts are reflected in other assets and other liabilities on the consolidated balance sheets.
-41-