BB&T 2011 Annual Report Download - page 52
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The following table presents BB&T’s securities portfolio at December 31, 2011, segregated by major category with
ranges of maturities and average yields disclosed.
Table 12
Securities
December 31, 2011
Available for Sale Held to Maturity
Fair Value
Weighted
Average Yield (1) Amortized Cost
Weighted
Average Yield (1)
(Dollars in millions)
U.S. government-sponsored entities (GSE):
Within one year $ 176 0.92 % $ — —%
One to five years 130 0.26 — —
Five to ten years — — 500 2.12
Total 306 0.64 500 2.12
Mortgage-backed securities issued by GSE: (2)
One to five years 6 6.20 — —
Five to ten years 222 2.79 — —
After ten years 17,904 2.31 13,028 2.18
Total 18,132 2.32 13,028 2.18
Obligations of states and political subdivisions: (3)
Within one year 4 7.28 — —
One to five years 14 6.91 — —
Five to ten years 132 6.26 — —
After ten years 1,773 6.34 35 5.31
Total 1,923 6.34 35 5.31
Non-agency mortgage-backed securities: (2)
After ten years 368 5.95 — —
Total 368 5.95 — —
Other securities:
Within one year 1 0.56 — —
After ten years — — 531 1.61
No stated maturity 6 1.84 — —
Total 7 1.56 531 1.61
Covered securities:
One to five years 2 4.51 — —
Five to ten years 299 5.44 — —
After ten years 1,276 14.23 — —
Total 1,577 12.27 — —
Total securities $ 22,313 3.27 $ 14,094 2.16
(1) Yields on tax-exempt securities are calculated on a taxable-equivalent basis using the statutory federal income tax
rate of 35%. Yields for available-for-sale securities are calculated based on the amortized cost of the securities.
(2) For purposes of the maturity table, mortgage-backed securities, which are not due at a single maturity date, have been
included in maturity groupings based on the contractual maturity. The expected life of mortgage-backed securities
will differ from contractual maturities because borrowers may have the right to call or prepay the underlying
mortgage loans with or without call or prepayment penalties.
(3) Weighted-average yield excludes the effect of pay-fixed swaps hedging municipal securities.
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