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MB Financial, Inc. Reports Second Quarter 2012 Net Income Of $22.1 Million, Improved Return On Assets And Return On Equity And Improved Credit Metrics

INVESTMENT SECURITIES

The following table sets forth the fair value, amortized cost, and total unrealized gain of our investment securities, by type (in thousands):

  June 30,   March 31,   December 31,   September 30,   June 30,
  2012     2012     2011     2011     2011
 
Securities available for sale:
Fair value
Government sponsored agencies and enterprises $ 42,175 $ 42,070 $ 42,401 $ 56,007 $ 55,656
States and political subdivisions 629,173 581,720 535,660 394,279 392,670
Mortgage-backed securities 1,035,473 1,193,248 1,334,491 1,421,789 1,424,302
Corporate bonds 5,569 5,686 5,899 5,899 6,019
Equity securities 11,081 10,887 10,846 10,764 10,435
Total fair value $ 1,723,471 $ 1,833,611 $ 1,929,297 $ 1,888,738 $ 1,889,082
 
Amortized cost
Government sponsored agencies and enterprises $ 39,366 $ 39,503 $ 39,640 $ 53,016 $ 54,423
States and political subdivisions 589,654 547,262 500,979 366,651 371,598
Mortgage-backed securities 1,014,186 1,168,340 1,308,020 1,399,801 1,401,975
Corporate bonds 5,569 5,686 5,899 5,899 6,019
Equity securities 10,584 10,520 10,457 10,324 10,246
Total amortized cost $ 1,659,359 $ 1,771,311 $ 1,864,995 $ 1,835,691 $ 1,844,261
 
Unrealized gain
Government sponsored agencies and enterprises $ 2,809 $ 2,567 $ 2,761 $ 2,991 $ 1,233
States and political subdivisions 39,519 34,458 34,681 27,628 21,072
Mortgage-backed securities 21,287 24,908 26,471 21,988 22,327
Corporate bonds - - - - -
Equity securities 497 367 389 440 189
Total unrealized gain $ 64,112 $ 62,300 $ 64,302 $ 53,047 $ 44,821
 
Securities held to maturity, at cost:
States and political subdivisions $ 238,869 $ 239,526 $ 240,183 $ 240,839 $ -
Mortgage-backed securities 258,931 259,241 259,100 258,199 230,154
Total amortized cost $ 497,800 $ 498,767 $ 499,283 $ 499,038 $ 230,154
 

We do not have any meaningful direct or indirect holdings of subprime residential mortgage loans, home equity lines of credit, or any Fannie Mae or Freddie Mac preferred or common equity securities in our investment securities portfolio. Additionally, more than 99% of our mortgage-backed securities are agency guaranteed.

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