VLY » Topics » TRADING SECURITIES

This excerpt taken from the VLY 10-Q filed May 11, 2009.

Trading Securities

The fair values of trading securities at March 31, 2009 and December 31, 2008 were as follows:

 

     March 31,
2009
   December 31,
2008
     (in thousands)

Trust preferred securities

   $ 34,306    $ 34,236

Corporate and other debt securities

     10,243      —  
             

Total trading securities

   $ 44,549    $ 34,236
             

Interest income on trading securities totaled $1.7 million and $4.1 million for the three months ended March 31, 2009 and 2008, respectively.

These excerpts taken from the VLY 10-K filed Feb 27, 2009.

Trading Securities

The fair value of trading securities at December 31, 2008 and 2007 were as follows:

 

     2008    2007
     (in thousands)

U.S. government agency securities

   $ —      $ 224,945

Obligations of states and political subdivisions

     —        2,803

Mortgage-backed securities

     —        28,959

Corporate and other debt securities

     34,236      465,870
             

Total trading securities

   $ 34,236    $ 722,577
             

Interest income on trading securities totaled $8.3 million, $52.8 million, and $163.0 thousand for years ended December 31, 2008, 2007 and 2006, respectively.

Trading Securities

FACE="Times New Roman" SIZE="2">The fair value of trading securities at December 31, 2008 and 2007 were as follows:

 














































































   2008  2007
   (in thousands)

U.S. government agency securities

  $—    $224,945

Obligations of states and political subdivisions

   —     2,803

Mortgage-backed securities

   —     28,959

Corporate and other debt securities

   34,236   465,870
        

Total trading securities

  $34,236  $722,577
        

Interest income on trading securities totaled $8.3 million, $52.8 million, and $163.0 thousand for
years ended December 31, 2008, 2007 and 2006, respectively.

This excerpt taken from the VLY 10-Q filed Nov 7, 2008.

TRADING SECURITIES

 

     September 30,
2008
   December 31,
2007

U.S. Treasury securities and other government agencies

   $ 24,851    $ 224,945

Obligations of states and political subdivisions

     —        2,803

Mortgage-backed securities

     —        28,959

Corporate and other debt securities

     36,532      465,870
             

Total trading securities

   $ 61,383    $ 722,577
             

Interest income on trading securities totaled $1.0 million and $12.2 million for the three months ended September 30, 2008 and 2007, respectively, and $7.4 million and $43.0 million for the nine months ended September 30, 2008 and 2007, respectively.

This excerpt taken from the VLY 10-Q filed Aug 8, 2008.

TRADING SECURITIES

 

     June 30,
2008
   December 31,
2007
     (in thousands)

U.S. Treasury securities and other government agencies

   $ 24,903    $ 224,945

Obligations of states and political subdivisions

     —        2,803

Mortgage-backed securities

     —        28,959

Corporate and other debt securities

     42,554      465,870
             

Total trading securities

   $ 67,457    $ 722,577
             

Interest income on trading securities totaled $2.3 million and $14.3 million for the three months ended June 30, 2008 and 2007, respectively, and $6.4 million and $30.8 million for the six months ended June 30, 2008 and 2007, respectively.

This excerpt taken from the VLY 10-Q filed May 9, 2008.

TRADING SECURITIES

 

     March 31,
2008
   December 31,
2007
     (in thousands)

U.S. Treasury securities and other government agencies

   $ 24,990    $ 224,945

Obligations of states and political subdivisions

     —        2,803

Mortgage-backed securities

     23,077      28,959

Corporate and other debt securities

     364,927      465,870
             

Total trading securities

   $ 412,994    $ 722,577
             

Interest income on trading securities totaled $4.1 million and $16.4 million for the three months ended March 31, 2008 and 2007, respectively.

These excerpts taken from the VLY 10-K filed Feb 28, 2008.

Trading Securities

The fair value of trading securities at December 31, 2007 and 2006 were as follows:

 

     2007    2006
     (in thousands)

U.S. Treasury securities and other government agencies

   $ 224,945    $ —  

Obligations of states and political subdivisions

     2,803      4,655

Mortgage-backed securities

     28,959      —  

Corporate and other debt securities

     465,870      —  
             

Total trading securities

   $ 722,577    $ 4,655
             

Interest income on trading securities totaled $52.8 million, $163.0 thousand, and $105.1 thousand for years ended December 31, 2007, 2006 and 2005, respectively.

LOANS (Note 5)

The detail of the loan portfolio as of December 31, 2007 and 2006 was as follows:

 

     2007    2006
     (in thousands)

Commercial

   $ 1,563,150    $ 1,466,862
             

Total commercial loans

     1,563,150      1,466,862
             

Construction

     402,806      526,318

Residential mortgage

     2,063,242      2,106,306

Commercial mortgage

     2,370,345      2,309,217
             

Total mortgage loans

     4,836,393      4,941,841
             

Home equity

     554,830      571,138

Credit card

     10,077      8,764

Automobile

     1,447,838      1,238,145

Other consumer

     83,933      104,935
             

Total consumer loans

     2,096,678      1,922,982
             
   $ 8,496,221    $ 8,331,685
             

Total loans are net of unearned discount and deferred loan fees totaling $3.5 million and $5.1 million, at December 31, 2007 and 2006, respectively.

Trading Securities

The fair value of
trading securities at December 31, 2007 and 2006 were as follows:

 














































































   2007  2006
   (in thousands)

U.S. Treasury securities and other government agencies

  $224,945  $—  

Obligations of states and political subdivisions

   2,803   4,655

Mortgage-backed securities

   28,959   —  

Corporate and other debt securities

   465,870   —  
        

Total trading securities

  $722,577  $4,655
        

Interest income on trading securities totaled $52.8 million, $163.0 thousand, and $105.1 thousand
for years ended December 31, 2007, 2006 and 2005, respectively.

LOANS (Note 5)

STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%">The detail of the loan portfolio as of December 31, 2007 and 2006 was as follows:

STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> 














































































































































































   2007  2006
   (in thousands)

Commercial

  $1,563,150  $1,466,862
        

Total commercial loans

   1,563,150   1,466,862
        

Construction

   402,806   526,318

Residential mortgage

   2,063,242   2,106,306

Commercial mortgage

   2,370,345   2,309,217
        

Total mortgage loans

   4,836,393   4,941,841
        

Home equity

   554,830   571,138

Credit card

   10,077   8,764

Automobile

   1,447,838   1,238,145

Other consumer

   83,933   104,935
        

Total consumer loans

   2,096,678   1,922,982
        
  $8,496,221  $8,331,685
        

Total loans are net of unearned discount and deferred loan fees totaling $3.5 million and $5.1
million, at December 31, 2007 and 2006, respectively.

This excerpt taken from the VLY 10-Q filed Nov 8, 2007.

TRADING SECURITIES

 

     September 30,
2007
   December 31,
2006

U.S. Treasury securities and other government agencies

   $ 356,595    $ —  

Obligations of states and political subdivisions

     1,449      4,655

Mortgage-backed securities

     28,838      —  

Corporate and other debt securities

     522,836      —  

Equity securities

     —        —  
             

Total trading securities

   $ 909,718    $ 4,655
             
This excerpt taken from the VLY 10-Q filed Aug 8, 2007.

TRADING SECURITIES

 

     June 30,
2007
   December 31,
2006

U.S. Treasury securities and other government agencies

   $ 447,330    $ —  

Obligations of states and political subdivisions

     1,791      4,655

Mortgage-backed securities

     4,636      —  

Corporate and other debt securities

     385,538      —  

Equity securities

     8      —  
             

Total trading securities

   $ 839,303    $ 4,655
             
This excerpt taken from the VLY 10-Q filed May 10, 2007.

TRADING SECURITIES

 

     March 31,
2007
   December 31,
2006

U.S. Treasury securities and other government agencies

   $ 116    $ —  

Obligations of states and political subdivisions

     2,954      4,655

Mortgage-backed securities

     1,054,996      —  

Corporate and other debt securities

     108,910      —  

Equity securities

     8      —  
             

Total trading securities

   $ 1,166,984    $ 4,655
             
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