TCF Bank 2015 Annual Report Download - page 82

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67
There were no transfers from securities available for sale to securities held to maturity in 2015. During 2014, TCF
transferred $191.7 million of available for sale mortgage-backed securities to held to maturity, reflecting TCF's intent
and ability to hold these securities to maturity. At December 31, 2015 and 2014, the unrealized holding loss on the
transferred securities retained in accumulated other comprehensive income (loss) totaled $14.8 million and
$16.0 million, respectively. These amounts are amortized over the remaining lives of the transferred securities. Other
held to maturity securities consist of bonds which qualify for investment credit under the Community Reinvestment
Act. In 2015, 2014, and 2013, TCF recorded an impairment charge of $0.3 million, $0.1 million, and $0.2 million,
respectively, on held to maturity securities, which had a carrying value of $1.1 million, $1.5 million and $1.9 million at
December 31, 2015, 2014, and 2013, respectively.
The following tables show the gross unrealized losses and fair value of securities available for sale and securities held
to maturity at December 31, 2015 and 2014, aggregated by investment category and the length of time the securities
were in a continuous loss position.
At December 31, 2015
Less than 12 months 12 months or more Total
(In thousands) Fair Value Unrealized
Losses Fair Value Unrealized
Losses Fair Value Unrealized
Losses
Securities available for sale:
Mortgage-backed securities:
U.S. Government sponsored enterprises
and federal agencies $ 552,127 $ 6,246 $ — $ — $ 552,127 $6,246
Total securities available for sale $ 552,127 $ 6,246 $ — $ — $ 552,127 $6,246
Securities held to maturity:
Mortgage-backed securities:
U.S. Government sponsored enterprises
and federal agencies $ 12,333 $ 100 $1,732 $114 $14,065 $214
Total securities held to maturity $ 12,333 $ 100 $1,732 $114 $14,065 $214
At December 31, 2014
Less than 12 months 12 months or more Total
(In thousands) Fair Value Unrealized
Losses Fair Value Unrealized
Losses Fair Value Unrealized
Losses
Securities available for sale:
Mortgage-backed securities:
U.S. Government sponsored enterprises
and federal agencies $ — $ — $ 198,550 $ 741 $198,550 $741
Total securities available for sale $ — $ — $ 198,550 $ 741 $198,550 $741
Securities held to maturity:
Mortgage-backed securities:
U.S. Government sponsored enterprises
and federal agencies $ 2,602 $109 $ — $ — $ 2,602 $109
Total securities held to maturity $ 2,602 $109 $ — $ — $ 2,602 $109