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The table below presents the balances of assets and liabilities measured at fair value on a recurring
<br />basis at December 31, 2010:
<br />(dollars in thousands) Level 1 Level 2 Level 3 Total
<br />Trading assets $ - $ 5,500 $ - $ 5,500
<br />Securities available for sale:
<br />U.S. Treasury and other U.S. Government agencies and
<br />corporations 174,231 174,231
<br />Government sponsored agencies 483,111 483,111
<br />Mortgage and asset -backed securities:
<br />Government agencies") - 239,522 - 239,522
<br />Government sponsored agencies° - 1,211,539 - 1,211,539
<br />Collateralized debt obligations 66,992 66,992
<br />Collateralized loan obligations 129,906 129,906
<br />Other asset -backed securities 6,809 863 7,672
<br />Collateralized mortgage obligations:
<br />Government agencies 1,099,528 - 1,099,528
<br />Government sponsored agencies 1,437,423 - 1,437,423
<br />Other - -
<br />State and political subdivisions and others - 1,272,593 - 1,272,593
<br />Equity securities 441 5,804 6,245
<br />Total securities available for sale 441 5,930,560 197,761 6,128,762
<br />Derivative assets 364,855 150,729 515,584
<br />Other assets(2) 25,414 907 92 26,413
<br />Total assets measured at fair value on a recurring basis $25,855 $6,301,822 $348,582 $6,676,259
<br />Derivative liabilities $ - $ 321,840 $ - $ 321,840
<br />Other liabilities 72 72
<br />Total liabilities measured at fair value on a recurring basis $ - $ 321,912 $ - $ 321,912
<br />(1 Backed by residential real estate.
<br />(2) Largely represents assets for deferred compensation plans.
<br />For the years ended December 31, 2011 and December 31, 2010, there were no significant transfers in
<br />or out of Levels 1 or 2. The changes for 2011 in Level 3 assets measured at fair value on a recurring basis
<br />are summarized below. There were no Level 3 liabilities measured at fair value on a recurring basis for the
<br />year ended December 31, 2011:
<br />Net
<br />unrealized
<br />gains
<br />(losses)
<br />included in
<br />Purchases, net income
<br />Total net Total net gains sales, for the year
<br />losses included in issuances relating to
<br />included other and Transfers assets
<br />Beginning in net comprehensive settlements, out of Ending held at
<br />(dollars in thousands) balance income income net Level 3 balance year end
<br />Securities available for sale:
<br />Collateralized debt obligations $ 66,992 $(17,068) $40,622 $ (45,413) $- $ 45,133 $-
<br />Collateralized loan obligations 129,906 (6,227) 50,631 (45,655) - 128,655 -
<br />Other asset -backed securities 863 207 (893) 177
<br />Total securities available for sale $197,761 $(23,295) $91,460 $ (91,961) $- $173,965 $-
<br />Derivative assets 150,729 (6,351) (120,495) 23,883
<br />Other assets 92 (59) - 33
<br />m Included in noninterest income in the income statement.
<br />-44-
<br />2011 Bank of the West Annual Report
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