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This excerpt taken from the PBKS 10-Q filed May 11, 2009. Securities Held to Maturity A review of the investment portfolio may indicate that certain securities held to maturity are impaired. If necessary, the Corporation performs fair value modeling and evaluations on these securities. All processes and controls associated with determination of the fair value of those securities are consistent with these performed for securities available for sale. Impaired securities include bank pooled trust preferred securities that are classified as Level 3 within the valuation hierarchy. This excerpt taken from the PBKS 10-K filed Mar 13, 2009. Securities Held to Maturity Impaired securities include bank pooled trust preferred securities that are classified as Level 3 within the valuation hierarchy. A review of the entire investment portfolio may indicate that certain securities held to maturity are impaired. If necessary, the Corporation performs fair value modeling and evaluations on these securities. All processes and controls associated with determination of the fair value of those securities are consistent with those performed for securities available for sale. These securities are classified as Level 3 within the valuation hierarchy. The table below reflects securities held to maturity with realized losses due to OTTI and impaired loans.
In addition to the fair value disclosure requirements of SFAS No. 157, SFAS No. 107, “Disclosure about Fair Value of Financial Instruments” (“SFAS No. 107”) requires all entities to disclose the fair value of recognized and unrecognized financial instruments on a prospective basis, where feasible, in an effort to provide financial statement users with information in making rational investment and credit decisions. The methods for the determination of fair value for investment securities, mortgage loans held for sale and derivative financial instruments have been discussed above. The fair values of each class of financial instrument outside the scope of the requirements of SFAS No. 157 have applied the following methods using the indicated assumptions to determine their fair value. This excerpt taken from the PBKS 10-Q filed Nov 10, 2008. Securities Held to Maturity Impaired securities includes bank pooled trust preferred securities that are classified as Level 3 within the valuation hierarchy. A review of the entire investment portfolio may indicate that certain securities held to maturity are impaired. If necessary, the Corporation performs fair value modeling and evaluations on these securities. All processes and controls associated with determination of the fair value of those securities are consistent with those performed for securities available for sale. These securities are classified as Level 3 within the valuation hierarchy. The table below reflects securities held to maturity with realized losses due to OTTI.
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Table of ContentsThis excerpt taken from the PBKS 10-K filed Feb 29, 2008. Securities Held to Maturity Fair values of investment securities are based on quoted market prices. | EXCERPTS ON THIS PAGE:
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