HR Block 2013 Annual Report Download - page 46

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H&R Block 2013 Form 10-K 39
The following table presents the rate/volume variance in interest income and expense for the last two fiscal years:
(in 000s)
Year ended April 30, 2013 2012
Total Change
in Interest
Income/ Expense
Change
Due to
Rate/Volume
Change
Due to
Rate
Change
Due to
Volume
Total Change
in Interest
Income/ Expense
Change
Due to
Rate/Volume
Change
Due to
Rate
Change
Due to
Volume
Interest income:
Loans, net (1) $ 1,560 $ 3,052 $ (60) $ (1,432)$ (69,700) $ (46,549) $ (5) $ (23,146)
Available-for-sale
securities 2,613 147 300 2,166 4,004 2,027 198 1,779
Federal funds sold — (1) 1 — (2) — (2) —
FHLB stock (113) 50 (118) (45) (58) (15) 35 (78)
Cash & due from
banks (205) 49 (146) (108) (521) (25) — (496)
$ 3,855 $ 3,297 $ (23) $ 581 $ (66,277) $ (44,562) $ 226 $ (21,941)
Interest expense:
Customer deposits $ (1,075) $ (52) $ (1,286) $ 263 $ (1,753) $ (102) $ (141) $ (1,510)
FHLB borrowings (572) 574 (573) (573) (954) (155) 225 (1,024)
$ (1,647) $ 522 $ (1,859) $ (310) $ (2,707) $ (257) $ 84 $(2,534)
(1) Includes mortgage loans held for investment, EAs and credit cards. Non-accruing loans have been excluded.
INVESTMENT PORTFOLIO – The following table presents the cost basis and fair value of HRB Bank’s investment
portfolio at April 30, 2013, 2012 and 2011:
(in 000s)
As of April 30, 2013 2012 2011
Cost Basis Fair Value Cost Basis Fair Value Cost Basis Fair Value
Mortgage-backed securities $ 476,450 $ 482,378 $ 361,184 $ 366,683 $ 157,970 $ 158,177
Federal funds sold 1,169 1,169 1,586 1,586 8,727 8,727
FHLB stock 1,861 1,861 1,879 1,879 3,315 3,315
$ 479,480 $ 485,408 $ 364,649 $ 370,148 $ 170,012 $ 170,219
The following table shows the cost basis, scheduled maturities and average yields for HRB Bank’s investment
portfolio at April 30, 2013:
(dollars in 000s)
Less Than One Year After Ten Years Total
Cost
Basis
Balance
Due
Weighted
Average
Yield
Balance
Due
Weighted
Average
Yield
Balance
Due
Weighted
Average
Yield
Mortgage-backed
securities $ 476,450 $ — — $ 476,450 1.79% $ 476,450 1.79%
Federal funds sold 1,169 1,169 0.08% — — 1,169 0.08%
FHLB stock 1,861 1,861 —% — — 1,861 —%
$ 479,480 $ 3,030 $ 476,450 $ 479,480