eTrade 2012 Annual Report Download - page 133
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commitments in certain circumstances and has closed a significant amount of customer home equity lines of
credit in the past five years. As of December 31, 2012, the Company had $0.6 billion of unfunded
commitments to extend credit. Information related to such commitments and contingent liabilities is detailed in
Note 19—Commitments, Contingencies and Other Regulatory Matters.
NOTE 4—AVAILABLE-FOR-SALE AND HELD-TO-MATURITY SECURITIES
The amortized cost basis and fair value of available-for-sale and held-to-maturity securities at December 31,
2012 and 2011 are shown in the following tables (dollars in thousands):
Amortized
Cost
Gross
Unrealized /
Unrecognized
Gains
Gross
Unrealized /
Unrecognized
Losses Fair Value
December 31, 2012:
Available-for-sale securities:
Residential mortgage-backed securities:
Agency mortgage-backed securities and CMOs $11,881,185 $232,905 $ (16,792) $12,097,298
Non-agency CMOs 260,064 4,362 (29,263) 235,163
Total residential mortgage-backed securities 12,141,249 237,267 (46,055) 12,332,461
Investment securities:
Agency debentures 515,990 12,434 (428) 527,996
Agency debt securities 525,408 21,354 — 546,762
Municipal bonds 30,235 1,111 — 31,346
Corporate bonds 5,478 — (1,023) 4,455
Total investment securities 1,077,111 34,899 (1,451) 1,110,559
Total available-for-sale securities $13,218,360 $272,166 $ (47,506) $13,443,020
Held-to-maturity securities:
Residential mortgage-backed securities:
Agency mortgage-backed securities and CMOs $ 7,887,555 $301,686 $ (7,177) $ 8,182,064
Investment securities:
Agency debentures 163,434 6,335 — 169,769
Agency debt securities 1,488,959 69,705 (1) 1,558,663
Total investment securities 1,652,393 76,040 (1) 1,728,432
Total held-to-maturity securities $ 9,539,948 $377,726 $ (7,178) $ 9,910,496
December 31, 2011:
Available-for-sale securities:
Residential mortgage-backed securities:
Agency mortgage-backed securities and CMOs $13,772,134 $203,541 $ (9,963) $13,965,712
Non-agency CMOs 422,568 3,331 (84,346) 341,553
Total residential mortgage-backed securities 14,194,702 206,872 (94,309) 14,307,265
Investment securities:
Agency debentures 743,246 — (11,966) 731,280
Agency debt securities 541,038 13,654 (498) 554,194
Municipal bonds 42,325 261 (1,517) 41,069
Corporate bonds 25,357 — (7,672) 17,685
Total investment securities 1,351,966 13,915 (21,653) 1,344,228
Total available-for-sale securities $15,546,668 $220,787 $(115,962) $15,651,493
Held-to-maturity securities:
Residential mortgage-backed securities:
Agency mortgage-backed securities and CMOs $ 5,296,520 $162,975 $ (1,545) $ 5,457,950
Investment securities:
Agency debentures 163,412 5,764 — 169,176
Agency debt securities 619,580 36,283 — 655,863
Total investment securities 782,992 42,047 — 825,039
Total held-to-maturity securities $ 6,079,512 $205,022 $ (1,545) $ 6,282,989
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