XML 38 R24.htm IDEA: XBRL DOCUMENT v3.7.0.1
Investment Securities (Tables)
 6 Months Ended
Jun. 30, 2017
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of Securities Available for Sale and Securities Held to Maturity
The amortized cost, gross unrealized gains and losses, and fair value of AFS and HTM securities are as follows:
June 30, 2017
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
Available for sale securities:
 
 
 
 
 
 
 
 
U.S. agency mortgage-backed securities
 
$
17,604

 
$
56

 
$
27

 
$
17,633

Asset-backed securities
 
9,858

 
40

 
4

 
9,894

Corporate debt securities
 
6,603

 
23

 
1

 
6,625

U.S. Treasury securities
 
7,740

 
8

 
51

 
7,697

Certificates of deposit
 
1,620

 
2

 
—

 
1,622

U.S. agency notes
 
1,914

 
—

 
7

 
1,907

Commercial paper
 
214

 
—

 
—

 
214

Non-agency commercial mortgage-backed securities
 
42

 
—

 
—

 
42

     Total available for sale securities
 
$
45,595

 
$
129

 
$
90

 
$
45,634

Held to maturity securities:
 
 
 
 
 
 
 
 
U.S. agency mortgage-backed securities
 
$
89,250

 
$
499

 
$
805

 
$
88,944

Non-agency commercial mortgage-backed securities
 
995

 
12

 
3

 
1,004

Asset-backed securities
 
12,493

 
70

 
2

 
12,561

Corporate debt securities
 
3,181

 
23

 
—

 
3,204

U.S. Treasury securities
 
223

 
—

 
1

 
222

Commercial paper
 
100

 
—

 
—

 
100

U.S. state and municipal securities
 
1,168

 
43

 
—

 
1,211

Certificates of deposit
 
200

 
—

 
—

 
200

     Total held to maturity securities
 
$
107,610

 
$
647

 
$
811

 
$
107,446

December 31, 2016
 
 
 
 
 
 
 
 
Available for sale securities:
 
 
 
 
 
  
 
 
U.S. agency mortgage-backed securities
 
$
33,167

 
$
120

 
$
92

 
$
33,195

Asset-backed securities
 
20,520

 
29

 
214

 
20,335

Corporate debt securities
 
9,850

 
20

 
18

 
9,852

U.S. Treasury securities
 
8,679

 
3

 
59

 
8,623

Certificates of deposit
 
2,070

 
2

 
1

 
2,071

U.S. agency notes
 
1,915

 
—

 
8

 
1,907

U.S. state and municipal securities
 
1,167

 
2

 
46

 
1,123

Commercial paper
 
214

 
—

 
—

 
214

Non-agency commercial mortgage-backed securities
 
45

 
—

 
—

 
45

     Total available for sale securities
 
$
77,627

 
$
176

 
$
438

 
$
77,365

Held to maturity securities:
 
 
 
 
 
 
 
 
U.S. agency mortgage-backed securities
 
$
72,439

 
$
324

 
$
1,086

 
$
71,677

Non-agency commercial mortgage-backed securities
 
997

 
11

 
4

 
1,004

Asset-backed securities
 
941

 
—

 
—

 
941

Corporate debt securities
 
436

 
—

 
—

 
436

U.S. Treasury securities
 
223

 
—

 
4

 
219

Commercial paper
 
99

 
—

 
—

 
99

U.S. state and municipal securities
 
68

 
1

 
1

 
68

     Total held to maturity securities
 
$
75,203

 
$
336

 
$
1,095

 
$
74,444
Securities with Unrealized Losses, Aggregated by Category and Period of Continuous Unrealized Loss
A summary of securities with unrealized losses, aggregated by category and period of continuous unrealized loss, is as follows:
 
Less than
 
12 months
 
 
 
 
 
12 months
 
or longer
 
Total
June 30, 2017
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
Available for sale securities:
 
 
 
 
 
 
 
 
 
 
 
U.S. agency mortgage-backed securities
$
1,817

 
$
6

 
$
2,976

 
$
21

 
$
4,793

 
$
27

Asset-backed securities
866

 
—

 
550

 
4

 
1,416

 
4

Corporate debt securities
867

 
1

 
303

 
—

 
1,170

 
1

U.S. Treasury securities
6,418

 
51

 
—

 
—

 
6,418

 
51

U.S. agency notes
1,907

 
7

 
—

 
—

 
1,907

 
7

Total
$
11,875

 
$
65

 
$
3,829

 
$
25

 
$
15,704

 
$
90

Held to maturity securities:
 

 
 

 
 

 
 

 
 

 
 

U.S. agency mortgage-backed securities
$
174

 
$
—

 
$
48,699

 
$
805

 
$
48,873

 
$
805

Non-agency commercial mortgage-backed securities
—

 
—

 
535

 
3

 
535

 
3

Asset-backed securities
945

 
1

 
779

 
1

 
1,724

 
2

U.S. Treasury securities
—

 
—

 
222

 
1

 
222

 
1

Total
$
1,119

 
$
1

 
$
50,235

 
$
810

 
$
51,354

 
$
811

Total securities with unrealized losses (1)
$
12,994

 
$
66

 
$
54,064

 
$
835

 
$
67,058

 
$
901

December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
Available for sale securities:
 
 
 
 
  
 
 
 
 
 
 
U.S. agency mortgage-backed securities
$
14,816

 
$
69

 
$
2,931

 
$
23

 
$
17,747

 
$
92

Asset-backed securities
1,670

 
13

 
9,237

 
201

 
10,907

 
214

Corporate debt securities
2,407

 
17

 
653

 
1

 
3,060

 
18

U.S. Treasury securities
6,926

 
59

 
—

 
—

 
6,926

 
59

Certificates of deposit
474

 
—

 
100

 
1

 
574

 
1

U.S. agency notes
1,907

 
8

 
—

 
—

 
1,907

 
8

U.S. state and municipal securities
956

 
46

 
—

 
—

 
956

 
46

Total
$
29,156

 
$
212

 
$
12,921

 
$
226

 
$
42,077

 
$
438

Held to maturity securities:
 

 
 

 
 

 
 

 
 

 
 

U.S. agency mortgage-backed securities
$
51,361

 
$
1,086

 
$
—

 
$
—

 
$
51,361

 
$
1,086

Non-agency commercial mortgage-backed securities
591

 
4

 
—

 
—

 
591

 
4

U.S. Treasury securities
219

 
4

 
—

 
—

 
219

 
4

U.S. state and municipal securities
14

 
1

 
—

 
—

 
14

 
1

Total
$
52,185

 
$
1,095

 
$
—

 
$
—

 
$
52,185

 
$
1,095

Total securities with unrealized losses (2)
$
81,341

 
$
1,307

 
$
12,921

 
$
226

 
$
94,262

 
$
1,533

(1) 
The number of investment positions with unrealized losses totaled 205 for AFS securities and 625 for HTM securities.
(2) 
The number of investment positions with unrealized losses totaled 627 for AFS securities and 612 for HTM securities.
Maturities of Securities Available for Sale and Securities Held to Maturity
The maturities of AFS and HTM securities are as follows:
June 30, 2017
 
Within
1 year
 
After 1 year
through
5 years
 
After 5 years
through
10 years
 
After
10 years
 
Total
Available for sale securities:
 
 
 
 
 
 
 
 
 
 
U.S. agency mortgage-backed securities (1)
 
$
108

 
$
1,884

 
$
6,306

 
$
9,335

 
$
17,633

Asset-backed securities
 
23

 
8,019

 
1,126

 
726

 
9,894

Corporate debt securities
 
2,851

 
3,774

 
—

 
—

 
6,625

U.S. Treasury securities
 
1,619

 
6,078

 
—

 
—

 
7,697

Certificates of deposit
 
951

 
671

 
—

 
—

 
1,622

U.S. agency notes
 
847

 
1,060

 
—

 
—

 
1,907

Commercial paper
 
214

 
—

 
—

 
—

 
214

Non-agency commercial mortgage-backed securities (1)
 
—

 
—

 
—

 
42

 
42

Total fair value
 
$
6,613

 
$
21,486

 
$
7,432

 
$
10,103

 
$
45,634

Total amortized cost
 
$
6,612

 
$
21,476

 
$
7,427

 
$
10,080

 
$
45,595

Held to maturity securities:
 
 
 
 
 
 
 
 
 
 
U.S. agency mortgage-backed securities (1)
 
$
—

 
$
9,695

 
$
30,224

 
$
49,025

 
$
88,944

Non-agency commercial mortgage-backed securities (1)
 
—

 
—

 
363

 
641

 
1,004

Asset-backed securities
 
—

 
1,019

 
5,395

 
6,147

 
12,561

Corporate debt securities
 
—

 
3,204

 
—

 
—

 
3,204

U.S. Treasury securities
 
—

 
—

 
222

 
—

 
222

Commercial paper
 
100

 
—

 
—

 
—

 
100

U.S. state and municipal securities
 
—

 
—

 
88

 
1,123

 
1,211

Certificates of deposit
 
—

 
200

 
—

 
—

 
200

Total fair value
 
$
100

 
$
14,118

 
$
36,292

 
$
56,936

 
$
107,446

Total amortized cost
 
$
100

 
$
13,939

 
$
36,222

 
$
57,349

 
$
107,610

(1) 
Mortgage-backed securities have been allocated to maturity groupings based on final contractual maturities. Actual maturities will differ from final contractual maturities because borrowers on a certain portion of loans underlying these securities have the right to prepay their obligations.
Proceeds and Gross Realized Gains And Losses from Sales of Securities Available for Sale
Proceeds and gross realized gains and losses from sales of AFS securities are as follows:

 
Three Months Ended
June 30,
Six Months Ended
June 30,

 

 
2017
 
2016
2017
 
2016
Proceeds
 
$
4,421

 
$
3,774

$
5,485

 
$
4,074

Gross realized gains
 
6

 
3

7

 
3