Fifth Third Bank 2011 Annual Report Download - page 92

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
90 Fifth Third Bancorp
The following table provides the fair value and gross unrealized losses on available-for-sale securities in an unrealized loss position, aggregated by
investment category and length of time the individual securities have been in a continuous unrealized loss position as of December 31:
Less than 12 months 12 months or more Total
Unrealized Unrealized Unrealized
($ in millions) Fair Value Losses Fair Value Losses Fair Value Losses
2011
U.S. Treasury and government agencies $ 70 - 1 - 71 -
U.S. Government sponsored agencies - - - - - -
Obligations of states and political subdivisions - - 2 - 2 -
A
gency mortgage-backed securities 34 (1) 6 - 40 (1)
Other bonds, notes and debentures 523 (4) 38 (5) 561 (9)
Other securities 6 - - - 6 -
Total $ 633 (5) 47 (5) 680 (10)
2010
U.S. Treasury and government agencies $- -1 - 1 -
U.S. Government sponsored agencies - -- - - -
Obligations of states and political subdivisions 11 -4 - 15 -
A
gency mortgage-backed securities 1,555 (32) - - 1,555 (32)
Other bonds, notes and debentures 563 (10) 47 (5) 610 (15)
Other securities - -- - - -
Total $2,129 (42) 52 (5) 2,181 (47)
Other-Than-Temporary Impairments
The Bancorp recognized $19 million and $3 million of OTTI,
included in securities gains (losses), net, in the Bancorp’s
Consolidated Statements of Income, on its available-for-sale debt
securities during the years ended December 31, 2011 and 2010,
respectively, and no OTTI was recognized on held-to-maturity debt
securities for the years ended December 31, 2011 and 2010. During
the year ended December 31, 2009, OTTI recognized on available-
for-sale and held-to-maturity debt securities was immaterial to the
Bancorp’s consolidated financial statements. Additionally, at
December 31, 2011 an immaterial percent of unrealized losses in the
available-for-sale securities portfolio were represented by non-rated
securities, compared to approximately one percent at December 31,
2010.
During the year ended December 31, 2011, the Bancorp did
not recognize OTTI on any of its available-for-sale equity securities.
In addition, for the years ended December 31, 2010 and 2009,
OTTI recognized on available-for-sale equity securities was
immaterial to the Bancorp’s consolidated financial statements.