Bank of the West 2014 Annual Report Download - page 44

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As of December 31, 2013
(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 2,497,581 127 - 2,497,708
Residential mortgage-backed securities:
Government agencies - 3,288,195 - 3,288,195
Government sponsored agencies - 819,932 - 819,932
Collateralized debt and loan obligations - 128,871 - 128,871
Other asset-backed securities - 46 2 48
Collateralized mortgage obligations:
Government agencies - 1,025,168 - 1,025,168
Government sponsored agencies - 353,942 - 353,942
States and political subdivisions - 473,203 49,372 522,575
Corporate debt securities - 42,787 - 42,787
Equity securities 6,190 - - 6,190
Total securities available for sale 2,503,771 6,132,271 49,374 8,685,416
Derivative assets(1):
Interest rate contracts - 270,812 - 270,812
Foreign exchange contracts - 4,303 - 4,303
Market-linked swaps and purchased options - - 36,833 36,833
Credit guarantee derivative - - 3,570 3,570
Total derivative assets - 275,115 40,403 315,518
Deferred compensation plan and other assets 34,014 63 19 34,096
Total assets measured at fair value on a recurring basis $2,544,284 $6,407,449 $89,796 $9,041,529
Derivative liabilities(1)
Interest rate contracts $ - $ 265,200 $ - $ 265,200
Foreign exchange contracts - 4,552 - 4,552
Written market-linked options - - 36,944 36,944
Total derivative liabilities - 269,752 36,944 306,696
Other liabilities - 60 - 60
Total liabilities measured at fair value on a recurring basis $ - $ 269,812 $36,944 $ 306,756
(1) These amounts are reflected in other assets and other liabilities on the consolidated balance sheets.
The Bank’s policy is to recognize the fair value of transfers among Levels 1, 2 and 3 as of the end of the reporting
period. There were no transfers between Levels 1 and 2 for the year ended December 31, 2014 and 2013, respectively.
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