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MB Financial, Inc. Reports Loan Growth, Strong Fee Income, And Fourth Quarter Net Income Of $24.0 Million

INVESTMENT SECURITIES

The following table sets forth, by type, the fair value and amortized cost of our investment securities, excluding FHLB and FRB stock, as well as the unrealized gain of our investment securities available for sale (dollars in thousands):

           
12/31/2012 9/30/2012 6/30/2012 3/31/2012 12/31/2011
 
Securities available for sale:
Fair value
Government sponsored agencies and enterprises $ 41,315 $ 42,187 $ 42,175 $ 42,070 $ 42,401
States and political subdivisions 725,019 668,966 629,173 581,720 535,660
Mortgage-backed securities 993,328 1,075,962 1,035,473 1,193,248 1,334,491
Corporate bonds 96,674 16,626 5,569 5,686 5,899
Equity securities 11,835   11,231 11,081 10,887 10,846
Total fair value $ 1,868,171   $ 1,814,972 $ 1,723,471 $ 1,833,611 $ 1,929,297
 
Amortized cost
Government sponsored agencies and enterprises $ 38,605 $ 39,233 $ 39,366 $ 39,503 $ 39,640
States and political subdivisions 679,991 620,489 589,654 547,262 500,979
Mortgage-backed securities 981,513 1,060,665 1,014,186 1,168,340 1,308,020
Corporate bonds 97,014 16,617 5,569 5,686 5,899
Equity securities 11,398   10,644 10,584 10,520 10,457
Total amortized cost $ 1,808,521   $ 1,747,648 $ 1,659,359 $ 1,771,311 $ 1,864,995
 
Unrealized gain
Government sponsored agencies and enterprises $ 2,710 $ 2,954 $ 2,809 $ 2,567 $ 2,761
States and political subdivisions 45,028 48,477 39,519 34,458 34,681
Mortgage-backed securities 11,815 15,297 21,287 24,908 26,471
Corporate bonds (340 ) 9 - - -
Equity securities 437   587 497 367 389
Total unrealized gain $ 59,650   $ 67,324 $ 64,112 $ 62,300 $ 64,302
 
Securities held to maturity, at cost:
States and political subdivisions $ 237,563 $ 238,211 $ 238,869 $ 239,526 $ 240,183
Mortgage-backed securities 255,858   257,640 258,931 259,241 259,100
Total amortized cost $ 493,421   $ 495,851 $ 497,800 $ 498,767 $ 499,283
 

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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