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Table of Contents
Index to Financial Statements
6.LOANS RECEIVABLE, NET
Loans receivable, net are summarized as follows (in thousands):
December 31, 2002
Held-for-
Investment
Held-for-
Sale
Total Loans
Real estate loans:
One-to four-family $ 1,614,048 $ 1,765,441 $ 3,379,489
Home equity lines of credit and second mortgage loans 354,576 192 354,768
Multi-family — 106 106
Commercial 13,397 — 13,397
Mixed-use 121 — 121
Consumer and other loans:
Automobiles loans 1,481,695 — 1,481,695
Recreational vehicle loans 1,344,405 22,471 1,366,876
Marine loans 453,783 — 453,783
Other consumer loans 152,645 — 152,645
Total loans 5,414,670 1,788,210 7,202,880
Unamortized premiums, net 165,977 24,529 190,506
Less allowance for loan losses (27,666 ) — (27,666 )
Total $ 5,552,981 $ 1,812,739 $ 7,365,720
December 31, 2001
Held-for-
Investment
Held-for-
Sale
Total Loans
Real estate loans:
One-to four-family $ 4,696,681 $ 1,621,783 $ 6,318,464
Home equity lines of credit and second mortgage 22,720 339 23,059
Multi-family 183 — 183
Commercial 1,981 — 1,981
Mixed-use 635 — 635
Consumer and other loans:
Automobiles loans 1,635,050 — 1,635,050
Other 12,188 49 12,237
Total loans 6,369,438 1,622,171 7,991,609
Unamortized premiums (discounts), net 44,804 (6,082 ) 38,722
Less allowance for loan losses (19,874 ) — (19,874 )
Total $ 6,394,368 $ 1,616,089 $ 8,010,457
The largest concentrations of real estate mortgage loans at December 31, 2002 and 2001 are located in California (32.4% and 32.9% of the
portfolio), New York (7.9% and 8.0% of the portfolio), Virginia (6.2% of the 2002 portfolio) and New Jersey (4.3% of the 2001 portfolio).
Adjustable rate mortgages (“ARMs”) composed 25.2% and 33.4%, or $1.8 billion and $2.7 billion, of the gross loan portfolio as of December
31, 2002 and 2001, while fixed rate loans represented the remaining 74.8% and 66.6% or $5.4 billion and $5.3 billion, respectively. The
2003. EDGAR Online, Inc.