Navy Federal Credit Union 2014 Annual Report Download - page 56

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Navy Federal Credit Union38
As of December 31, 2013
(dollars in
thousands) 2014 2015 2016 2017 2018 Thereafter Total
0–1.00% $ 4,109,592 $ 396,111 $ 2,971 $ — $ 745 $ — $ 4,509,419
1.01–2.00 1,565,398 1,240,008 620,570 479,409 439,854 344,384 4,689,623
2.01–3.00 248,783 338,523 398,811 185,914 70,088 497,774 1,739,893
3.01–4.00 511,536 127,589 14,803 631,785 607,392 — 1,893,105
4.01–5.00 14,645 304,506 464,668 6,558 — — 790,377
5.01–6.00 317,282 23 — 11 — 19 317,335
6.01–7.00% 268 — — — — — 268
Total $ 6,767,504 $ 2,406,760 $ 1,501,823 $ 1,303,677 $ 1,118,079 $ 842,177 $ 13,940,020
Total dividends paid on members’ deposit accounts for the years ended December 31 were as follows:
(dollars in thousands) 2014 2013
Share and IRA certificates $ 262,749 $ 291,773
Savings and member escrow 25,302 22,738
Money market and IRA money market 49,294 44,130
Checking 11,086 9,653
IRA shares 3,325 2,370
Total dividends $ 351,756 $ 370,664
NOTE 16: BORROWED FUNDS
Navy Federal’s short-term and long-term borrowings at December 31, 2014 and 2013 were as follows:
As of December 31, 2014
(dollars in thousands)
Maturity
Fixed or
Floating
Interest
Rate
Interest
Payment
Amount
Outstanding
Weighted-
Average
Rate
Coupon
Short term
Other FHLB
short-term borrowings
2015 Fixed Monthly $ 3,300,000 0.19%–0.30%
2015 Floating Quarterly 850,000 Variable(1)
4,150,000 0.23%
FHLB long-term borrowings
maturing in next 12 months
2015 Fixed Monthly 120,000 2.04%–3.57%
2015 Fixed Quarterly 421,500 3.64%–5.77%
541,500 4.09%
Securities sold under
repurchase agreements 2015 Fixed At maturity 1,219,502 0.25% 0.10%–0.50%
Total short-term borrowings $ 5,911,002
Long term
FHLB long-term borrowings
2016–2034 Fixed Monthly 2,831,200 0.76%–5.10%
2016–2034 Fixed Quarterly 2,419,500 2.00%–6.04%
5,250,700 3.94%
Securities sold under
repurchase agreements 2019 Fixed Quarterly 250,000 0.90% 0.66%–1.88%
Total long-term borrowings 5,500,700
Total borrowed funds $ 11,411,702
(1)Variable coupon is a spread to 3-month LIBOR and is determined quarterly.