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MB Financial, Inc. Reports Third Quarter 2012 Net Income Of $23.1 Million And An Increase Of The Quarterly Dividend To $0.10 Per Share

INVESTMENT SECURITIES

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

  September 30,   June 30,   March 31,   December 31,   September 30,
  2012     2012     2012     2011     2011
 
Securities available for sale:
Fair value
Government sponsored agencies and enterprises $ 42,187 $ 42,175 $ 42,070 $ 42,401 $ 56,007
States and political subdivisions 668,966 629,173 581,720 535,660 394,279
Mortgage-backed securities 1,075,962 1,035,473 1,193,248 1,334,491 1,421,789
Corporate bonds 16,626 5,569 5,686 5,899 5,899
Equity securities 11,231 11,081 10,887 10,846 10,764
Total fair value $ 1,814,972 $ 1,723,471 $ 1,833,611 $ 1,929,297 $ 1,888,738
 
Amortized cost
Government sponsored agencies and enterprises $ 39,233 $ 39,366 $ 39,503 $ 39,640 $ 53,016
States and political subdivisions 620,489 589,654 547,262 500,979 366,651
Mortgage-backed securities 1,060,665 1,014,186 1,168,340 1,308,020 1,399,801
Corporate bonds 16,617 5,569 5,686 5,899 5,899
Equity securities 10,644 10,584 10,520 10,457 10,324
Total amortized cost $ 1,747,648 $ 1,659,359 $ 1,771,311 $ 1,864,995 $ 1,835,691
 
Unrealized gain
Government sponsored agencies and enterprises $ 2,954 $ 2,809 $ 2,567 $ 2,761 $ 2,991
States and political subdivisions 48,477 39,519 34,458 34,681 27,628
Mortgage-backed securities 15,297 21,287 24,908 26,471 21,988
Corporate bonds 9 - - - -
Equity securities 587 497 367 389 440
Total unrealized gain $ 67,324 $ 64,112 $ 62,300 $ 64,302 $ 53,047
 
Securities held to maturity, at cost:
States and political subdivisions $ 238,211 $ 238,869 $ 239,526 $ 240,183 $ 240,839
Mortgage-backed securities 257,640 258,931 259,241 259,100 258,199
Total amortized cost $ 495,851 $ 497,800 $ 498,767 $ 499,283 $ 499,038
 

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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