TCF Bank 2010 Annual Report Download - page 101

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• 85 •
2010 Form 10-K
At December 31, 2010, the fair value of assets measured on a recurring basis are:
Readily Observable Company
Available Market Determined Total at
(In thousands) Market Prices(1) Prices(2) Market Prices(3) Fair Value
Securities available for sale:
Mortgage-backed securities:
U.S. Government sponsored enterprises
and federal agencies $ – $1,903,536 $ – $1,903,536
Other – – 222 222
U.S. Treasury bills 25,000 – – 25,000
Other securities – – 2,416 2,416
Forward foreign currency contracts – 15 – 15
Assets held in trust for deferred compensation plans(4) 9,178 – – 9,178
Total assets $34,178 $1,903,551 $2,638 $1,940,367
Forward foreign currency contracts $ – $ 1,856 $ – $ 1,856
Total liabilities $ – $ 1,856 $ – $ 1,856
At December 31, 2009:
Securities available for sale:
Mortgage-backed securities:
U.S. Government sponsored enterprises
and federal agencies $ – $ 1,905,209 $ – $ 1,905,209
Other – – 263 263
Other securities – – 5,004 5,004
Assets held in trust for deferred compensation plans(4) 7,511 – – 7,511
Total assets $ 7,511 $ 1,905,209 $5,267 $ 1,917,987
(1) Considered Level 1 under ASC 820, Fair Value Measurements and Disclosures.
(2) Considered Level 2 under ASC 820, Fair Value Measurements and Disclosures.
(3) Considered Level 3 under ASC 820, Fair Value Measurements and Disclosures, and is based on valuation models that use significant assumptions that are not observable
in an active market.
(4) A corresponding liability is recorded in other liabilities for TCF’s obligation to the participants in these plans.