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This excerpt taken from the TAYC 10-Q filed May 14, 2009. Off-Balance Sheet Arrangements Off-balance sheet arrangements include commitments to extend credit and financial guarantees. Commitments to extend credit and financial guarantees are used to meet the financial needs of our customers. At March 31, 2009, we had $939 million of undrawn commitments to extend credit and $89 million of financial and performance standby letters of credit. In comparison, at December 31, 2008, we had $928 million of undrawn commitments to extend credit and $87 million of financial and performance standby letters of credit. We expect most of these letters of credit to expire undrawn and we expect no significant loss from our obligation under financial guarantees to the extent not already recognized as a liability on the Company’s Consolidated Balance Sheets. At March 31, 2009 and December 31, 2008, a liability for $2.3 million and $2.9 million, respectively, was established for commitments under standby letters of credit for which we believed funding and loss were probable.
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Table of ContentsThis excerpt taken from the TAYC 10-Q filed Nov 10, 2008. Off-Balance Sheet Arrangements Off-balance sheet arrangements include commitments to extend credit and financial guarantees. Commitments to extend credit and financial guarantees are used to meet the financial needs of our customers. At September 30, 2008, we had $923 million of undrawn commitments to extend credit and $70 million of financial and performance standby letters of credit. In comparison, at December 31, 2007, we had $962 million of undrawn commitments to extend credit and $97 million of financial and performance standby letters of credit. We expect most of these letters of credit to expire undrawn. We have, however, established a $3.4 million liability for losses on unfunded commitments related to certain nonperforming loans.
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Table of ContentsThis excerpt taken from the TAYC DEF 14A filed Sep 15, 2008. Off-Balance Sheet Arrangements Off-balance sheet arrangements include commitments to extend credit and financial guarantees. Commitments to extend credit and financial guarantees are used to meet the financial needs of our customers. At June 30, 2008, we had $852 million of undrawn commitments to extend credit and $81 million of financial and performance standby letters of credit. In comparison, at December 31, 2007, we had $962 million of undrawn commitments to extend credit and $97 million of financial and performance standby letters of credit. We expect most of these letters of credit to expire undrawn. We have, however, established a $2.2 million liability for losses on unfunded commitments related to certain nonperforming loans. This excerpt taken from the TAYC 10-Q filed Aug 8, 2008. Off-Balance Sheet Arrangements Off-balance sheet arrangements include commitments to extend credit and financial guarantees. Commitments to extend credit and financial guarantees are used to meet the financial needs of our customers. At June 30, 2008, we had $852 million of undrawn commitments to extend credit and $81 million of financial and performance standby letters of credit. In comparison, at December 31, 2007, we had $962 million of undrawn commitments to extend credit and $97 million of financial and performance standby letters of credit. We expect most of these letters of credit to expire undrawn. We have, however, established a $2.2 million liability for losses on unfunded commitments related to certain nonperforming loans.
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Table of ContentsThis excerpt taken from the TAYC 10-Q filed May 9, 2008. Off-Balance Sheet Arrangements Off-balance sheet arrangements include commitments to extend credit and financial guarantees. Commitments to extend credit and financial guarantees are used to meet the financial needs of our customers. At March 31, 2008, we had $980 million of undrawn commitments to extend credit and $84 million of financial and performance standby letters of credit. In comparison, at December 31, 2007, we had $962 million of undrawn commitments to extend credit and $97 million of financial and performance standby letters of credit. We expect most of these letters of credit to expire undrawn and we expect no significant loss from our obligation under financial guarantees. This excerpt taken from the TAYC 10-Q filed Nov 5, 2007. Off-Balance Sheet Arrangements Off-balance sheet arrangements include commitments to extend credit and financial guarantees. Commitments to extend credit and financial guarantees are used to meet the financial needs of our customers. At September 30, 2007, we had $1.1 billion of undrawn commitments to extend credit and $100 million of financial and performance standby letters of credit. In comparison, at December 31, 2006, we had $915 million of undrawn commitments to extend credit and $110 million of financial and performance standby letters of credit. We expect most of these letters of credit to expire undrawn and we expect no significant loss from our obligation under financial guarantees.
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Table of ContentsThis excerpt taken from the TAYC 10-Q filed Aug 6, 2007. Off-Balance Sheet Arrangements Off-balance sheet arrangements include commitments to extend credit and financial guarantees. Commitments to extend credit and financial guarantees are used to meet the financial needs of our customers. At June 30, 2007, we had $978 million of undrawn commitments to extend credit and $95 million of financial and performance standby letters of credit. In comparison, at December 31, 2006, we had $915 million of undrawn commitments to extend credit and $110 million of financial and performance standby letters of credit. We expect most of these letters of credit to expire undrawn and we expect no significant loss from our obligation under financial guarantees.
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Table of ContentsThis excerpt taken from the TAYC 10-Q filed May 8, 2007. Off-Balance Sheet Arrangements Off-balance sheet arrangements include commitments to extend credit and financial guarantees. Commitments to extend credit and financial guarantees are used to meet the financial needs of our customers. At March 31, 2007, we had $1.0 billion of undrawn commitments to extend credit and $105 million of financial and performance standby letters of credit. In comparison, at December 31, 2006, we had $915 million of undrawn commitments to extend credit and $110 million of financial and performance standby letters of credit. We expect most of these letters of credit to expire undrawn and we expect no significant loss from our obligation under financial guarantees. This excerpt taken from the TAYC 10-Q filed Nov 3, 2006. Off-Balance Sheet Arrangements Off-balance sheet arrangements include commitments to extend credit and financial guarantees. Commitments to extend credit and financial guarantees are used to meet the financial needs of our customers. At September 30, 2006, we had $965 million of undrawn commitments to extend credit and $112 million of financial and performance standby letters of credit. In comparison, at December 31, 2005, we had $926 million of undrawn commitments to extend credit and $111 million of financial and performance standby letters of credit. We expect most of these letters of credit to expire undrawn and we expect no significant loss from our obligation under financial guarantees.
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Table of ContentsThis excerpt taken from the TAYC 10-Q filed Aug 7, 2006. Off-Balance Sheet Arrangements Off-balance sheet arrangements include commitments to extend credit and financial guarantees. Commitments to extend credit and financial guarantees are used to meet the financial needs of our customers. At June 30, 2006, we had $938 million of undrawn commitments to extend credit and $108 million of financial and performance standby letters of credit. In comparison, at December 31, 2005, we had $926 million of undrawn commitments to extend credit and $111 million of financial and performance standby letters of credit. We expect most of these letters of credit to expire undrawn and we expect no significant loss from our obligation under financial guarantees. This excerpt taken from the TAYC 10-Q filed May 5, 2006. Off-Balance Sheet Arrangements Off-balance sheet arrangements include commitments to extend credit and financial guarantees. Commitments to extend credit and financial guarantees are used to meet the financial needs of our customers. At March 31, 2006, we had $925 million of undrawn commitments to extend credit and $117 million of financial and performance standby letters of credit. We expect most of these letters of credit to expire undrawn and we expect no significant loss from our obligation under financial guarantees. This excerpt taken from the TAYC 10-Q filed Dec 30, 2005. Off-Balance Sheet Arrangements
Off-balance sheet arrangements include commitments to extend credit, financial guarantees, and derivative financial instruments. Commitments to extend credit and financial guarantees are used to meet the financial needs of our customers. Derivative financial instruments are used to manage interest rate risk.
At June 30, 2005, we had $886.0 million of undrawn commitments to extend credit and $101.5 million of financial and performance standby letters of credit. We expect most of these letters of credit to expire undrawn and we expect no significant loss from our obligation under financial guarantees.
This excerpt taken from the TAYC 10-Q filed Dec 30, 2005. Off-Balance Sheet Arrangements
Off-balance sheet arrangements include commitments to extend credit and financial guarantees. Commitments to extend credit and financial guarantees are used to meet the financial needs of our customers.
At March 31, 2005, we had $881.8 million of undrawn commitments to extend credit and $105.0 million of financial and performance standby letters of credit. We expect most of these letters of credit to expire undrawn and we expect no significant loss from our obligation under financial guarantees.
This excerpt taken from the TAYC 10-Q filed Nov 14, 2005. Off-Balance Sheet Arrangements
Off-balance sheet arrangements include commitments to extend credit and financial guarantees. Commitments to extend credit and financial guarantees are used to meet the financial needs of our customers.
At September 30, 2005, we had $918.2 million of undrawn commitments to extend credit and $101.8 million of financial and performance standby letters of credit. We expect most of these letters of credit to expire undrawn and we expect no significant loss from our obligation under financial guarantees.
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Table of ContentsTAYLOR CAPITAL GROUP, INC. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (Continued)
This excerpt taken from the TAYC 10-Q filed Aug 3, 2005. Off-Balance Sheet Arrangements
Off-balance sheet arrangements include commitments to extend credit, financial guarantees, and derivative financial instruments. Commitments to extend credit and financial guarantees are used to meet the financial needs of our customers. Derivative financial instruments are used to manage interest rate risk.
At June 30, 2005, we had $886.0 million of undrawn commitments to extend credit and $101.5 million of financial and performance standby letters of credit. We expect most of these letters of credit to expire undrawn and we expect no significant loss from our obligation under financial guarantees.
This excerpt taken from the TAYC 10-Q filed May 6, 2005. Off-Balance Sheet Arrangements
Off-balance sheet arrangements include commitments to extend credit, financial guarantees, and derivative financial instruments. Commitments to extend credit and financial guarantees are used to meet the financial needs of our customers. Derivative financial instruments are used to manage interest rate risk.
At March 31, 2005, we had $881.8 million of undrawn commitments to extend credit and $105.0 million of financial and performance standby letters of credit. We expect most of these letters of credit to expire undrawn and we expect no significant loss from our obligation under financial guarantees.
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Table of ContentsTAYLOR CAPITAL GROUP, INC. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (Continued)
At March 31, 2005, our only derivative financial instruments were interest-rate exchange contracts. We maintain interest rate exchange contracts with notional amounts of $180.0 million to hedge the fair values of certain brokered certificates of deposit and of $50.0 million to hedge the variability of cash flows of prime-based commercial loans. Under the contracts to hedge the fair value of brokered certificates of deposit, we receive a fixed interest rate equal to the rate paid on the brokered certificates of deposit and pay a floating interest rate based upon LIBOR. During the first quarter of 2005, we entered into additional interest rate exchange agreements with a notional amount totaling of $50.0 million to the hedged newly issued brokered certificates of deposit of $50.0 million. Under the contract to hedge the variability in cash flows from prime-based commercial loans, we receive a fixed interest rate and pay a floating rate based upon the prime-lending rate based on a notional amount of $50.0 million. We review the hedging relationship periodically for effectiveness. During first quarter of 2005, we determined the hedging relationship to be highly effective, and we recorded no ineffectiveness during the period.
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