Regions Bank 2009 Annual Report Download - page 157
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NOTE 10. FORECLOSED PROPERTIES
Other real estate and certain other assets acquired in foreclosure are carried at the lower of the recorded
investment in the loan or fair value less estimated costs to sell the property.
An analysis of foreclosed properties for the years ended December 31 follows:
2009 2008
(In millions)
Balance at beginning of year .................................... $243 $121
Transfer from loans ....................................... 890 414
Foreclosed property sold ................................... (361) (234)
Writedowns and partial liquidations ........................... (165) (58)
364 122
Balance at end of year ......................................... $607 $243
NOTE 11. DEPOSITS
The following schedule presents a detail of interest-bearing deposits at December 31:
2009 2008
(In millions)
Savings accounts .......................................... $ 4,073 $ 3,663
Interest-bearing transaction accounts .......................... 15,791 15,022
Money market accounts .................................... 23,291 19,471
Money market accounts—foreign ............................. 766 1,812
Time deposits ............................................ 31,468 32,369
Customer deposits ..................................... 75,389 72,337
Treasury time deposits ..................................... 87 110
$75,476 $72,447
The aggregate amount of time deposits of $100,000 or more, including certificates of deposit of $100,000 or
more, was $12.6 billion and $12.7 billion at December 31, 2009 and 2008, respectively.
The aggregate amount of maturities of all time deposits (deposits with stated maturities, consisting primarily
of certificates of deposit and IRAs) in each of the next five years is as follows: 2010–$19.0 billion; 2011–$7.5
billion; 2012–$2.3 billion; 2013–$2.6 billion; 2014–$110 million; and thereafter–$36 million.
NOTE 12. SHORT-TERM BORROWINGS
Following is a summary of short-term borrowings at December 31:
2009 2008
(In millions)
Federal funds purchased ..................................... $ 30 $ 35
Securities sold under agreements to repurchase ................... 1,863 3,108
Term Auction Facility ....................................... — 10,000
Treasury, tax and loan notes .................................. 7 —
Federal Home Loan Bank structured advances .................... 1,000 1,500
Short-sale liability .......................................... 266 629
Brokerage customer liabilities ................................. 424 430
Other short-term borrowings .................................. 78 120
$3,668 $15,822
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