Securities Available for Sale and Securities Held to Maturity (Tables)

9 Months Ended

Sep. 30, 2011

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 securities available for sale and securities held to maturity are as follows:

		0000000		0000000		0000000		0000000
September 30, 2011	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities available for sale:
U.S. agency residential mortgage-backed securities	$	17,433	$	302	$	11	$	17,724
Non-agency residential mortgage-backed securities		1,243		1		210		1,034
Corporate debt securities		3,021		4		13		3,012
U.S. agency notes		2,260		8		—		2,268
Certificates of deposit		2,098		4		1		2,101
Asset-backed and other securities		2,817		7		1		2,823

Total securities available for sale	$	28,872	$	326	$	236	$	28,962

Securities held to maturity:
U.S. agency residential mortgage-backed securities	$	15,388	$	521	$	1	$	15,908
Corporate debt securities		216		1		—		217
Asset-backed securities		171		2		—		173

Total securities held to maturity	$	15,775	$	524	$	1	$	16,298


December 31, 2010	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities available for sale:
U.S. agency residential mortgage-backed securities	$	12,879	$	222	$	3	$	13,098
Non-agency residential mortgage-backed securities		1,701		3		234		1,470
Corporate debt securities		2,261		8		1		2,268
Asset-backed securities		2,495		9		2		2,502
U.S. agency notes		2,757		23		—		2,780
Certificates of deposit		1,874		1		—		1,875

Total securities available for sale	$	23,967	$	266	$	240	$	23,993

Securities held to maturity:
U.S. agency residential mortgage-backed securities	$	16,722	$	209	$	137	$	16,794
Corporate debt securities		338		5		—		343
Asset-backed securities		702		9		—		711

Total securities held to maturity	$	17,762	$	223	$	137	$	17,848

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:

		000000		000000		000000		000000		000000		000000
	Less than 12 months				12 months or longer				Total
September 30, 2011	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Securities available for sale:
U.S. agency residential mortgage-backed securities	$	2,874	$	11	$	—	$	—	$	2,874	$	11
Non-agency residential mortgage-backed securities		128		5		822		205		950		210
Corporate debt securities		1,328		13		—		—		1,328		13
Certificates of deposit		849		1		—		—		849		1
Asset-backed and other securities		525		1		—		—		525		1

Total	$	5,704	$	31	$	822	$	205	$	6,526	$	236

Securities held to maturity:
U.S. agency residential mortgage-backed securities	$	491	$	1	$	—	$	—	$	491	$	1

Total	$	491	$	1	$	—	$	—	$	491	$	1

Total securities with unrealized losses ⁽¹⁾	$	6,195	$	32	$	822	$	205	$	7,017	$	237

⁽¹⁾	The number of investment positions with unrealized losses totaled 222 for securities available for sale and 3 for securities held to maturity.

		000000		000000		000000		000000		000000		000000
	Less than 12 months				12 months or longer				Total
December 31, 2010	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Securities available for sale:
U.S. agency residential mortgage-backed securities	$	707	$	3	$	—	$	—	$	707	$	3
Non-agency residential mortgage-backed securities		—		—		1,207		234		1,207		234
Corporate debt securities		549		1		—		—		549		1
Asset-backed securities		873		2		—		—		873		2

Total	$	2,129	$	6	$	1,207	$	234	$	3,336	$	240

Securities held to maturity:
U.S. agency residential mortgage-backed securities	$	6,880	$	137	$	—	$	—	$	6,880	$	137

Total	$	6,880	$	137	$	—	$	—	$	6,880	$	137

Total securities with unrealized losses ⁽¹⁾	$	9,009	$	143	$	1,207	$	234	$	10,216	$	377

⁽¹⁾	The number of investment positions with unrealized losses totaled 178 for securities available for sale and 37 for securities held to maturity.

Rollforward Amount of Credit Losses Recognized in Earnings for OTTI Securities Held by Company for Portion of Impairment Recognized in Other Comprehensive Income

The following table is a rollforward of the amount of credit losses recognized in earnings for OTTI securities held by the Company during the period for which a portion of the impairment was recognized in other comprehensive income:

		0000		0000		0000		0000
	Three Months Ended September 30,				Nine Months Ended September 30,
	2011		2010		2011		2010
Balance at beginning of period	$	105	$	76	$	96	$	60
Credit losses recognized into current period earnings on debt securities for which an other-than-temporary impairment was not previously recognized		2		—		4		4
Credit losses recognized into current period earnings on debt securities for which an other-than-temporary impairment was previously recognized		11		3		18		15

Balance at end of period	$	118	$	79	$	118	$	79

Maturities of Securities Available for Sale and Securities Held to Maturity

The maturities of securities available for sale and securities held to maturity at September 30, 2011, are as follows:

		0000000		0000000		0000000		0000000		0000000
	Within 1 year		After 1 year through 5 years		After 5 years through 10 years		After 10 years		Total
Securities available for sale:
U.S. agency residential mortgage-backed securities ⁽¹⁾	$	—	$	5	$	2,137	$	15,582	$	17,724
Non-agency residential mortgage-backed securities ⁽¹⁾		—		—		15		1,019		1,034
Corporate debt securities		678		2,334		—		—		3,012
U.S. agency notes		—		2,268		—		—		2,268
Certificates of deposit		800		1,301		—		—		2,101
Asset-backed and other securities		100		640		653		1,430		2,823

Total fair value	$	1,578	$	6,548	$	2,805	$	18,031	$	28,962
Total amortized cost	$	1,578	$	6,544	$	2,730	$	18,020	$	28,872

Securities held to maturity:
U.S. agency residential mortgage-backed securities ⁽¹⁾	$	—	$	—	$	1,481	$	14,427	$	15,908
Corporate debt securities		117		100		—		—		217
Asset-backed securities		—		173		—		—		173

Total fair value	$	117	$	273	$	1,481	$	14,427	$	16,298
Total amortized cost	$	116	$	271	$	1,425	$	13,963	$	15,775

⁽¹⁾

Residential mortgage-backed securities have been allocated over 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 (Losses) from Sales of Securities Available for Sale

Proceeds and gross realized gains (losses) from sales of securities available for sale are as follows:

		0000		0000		0000		0000
	Three Months Ended September 30,				Nine Months Ended September 30,
	2011		2010		2011		2010
Proceeds	$	—	$	95	$	450	$	220
Gross realized gains	$	—	$	—	$	1	$	—
Gross realized losses	$	—	$	—	$	—	$