Available for Sale Securities The amortized cost and fair value of available for sale securities are as follows (in thousands): The amortized cost and fair values of available for sale securities at December 31, 2001, by contractual maturity, are as shown in the following table (dollars in thousands): At December 31, 2001, there were outstanding commitments to buy $277 million securities that have not yet been issued. December 31, 2001 2000 Amortized Fair Gross Unrealized Amortized Fair Gross Unrealized Cost Value Gain Loss Cost Value Gain Loss U.S. Treasury $.34,538 $35,197 $ 659 $ - $ .85,656.:8..85564 $71 $163) Municipal:and other tax-exempt 4,262 4,299 55 (18) 14,492 14,552 90 (30) Mortgage-backed securities: U.S. agencies 2,637,636 2,638,425 26,660 : (25,871) 2.050.100.» 2,046,318 9.340: (13,122) Other 669,057 673,737 6,270 (1,590) 478,065 486,170 8,183 (78) Total mortgage-backed securities 3,306,693 3,312,162 32,930. -. (27,461) 3,528,165. 2,532,488 17,523 (13,200) Other debt securities 536 538 2 ~ 242 245 3 ~ Equity securities and mutual funds 93,918 97,353 3,688 (253) 129,823 130,971 2,884 (1,736) Total $3,439,947 $3,449,549 $37,334 $(27,732) 32.758.378 $2,763,820 $20,571 $15,129) Weighted Less than One to Five to Over Average One Year Five Years Ten Years Ten Years Total Maturity” U.S. Treasuries: Amortized cost $19,097 $15,441 $ = $- $ 34,538 1.49 Fair value 19,339 15,858 - = 35,197 Nominal yield 5.12% 4.77% = = 4.96% Municipal and other tax-exempt: Amortized cost $.:.714 $ 2,097 $1,451 $= $4,262 3.59 Fair value 708 2,111 1,480 - 4,299 Nominal yield! 6.57% 7.43% 8.34% - 7.77% Other debt securities: Amortized cost $ - $ 28 $97 $411 $ 536 15.13 Fair value - 26 98 414 538 Nominal yield! - 6.93% 6.30% 6.64% 6.59% Total fixed maturity securities: Amortized cost $19,811 $17,566 $1,548 $411 $ 39,336 1.90 Fair value 20,047 17.995 1,578 414 40,034 Nominal yield 5.17% 5.09% 8.68% 6.64% 5.29% Mortgage-backed securities: Amortized cost $3,306,693 2 Fair value 353125162 Nominal yield 5.96% Equity securities and mutual funds: Amortized cost $93,918 3 Fair value 97,353 Nominal yield 5.29% Total available-for-sale securities: Amortized cost $3,439,947 Fair value 3,449,549 5.93% Nominal yield 40 Calculated on a taxable equivalent basis using a 39% effective tax rate. The ‘average expected lives of mortgage-backed securities were 3.66 years based upon current prepayment assumptions. Primarily common stock and preferred stock of U.S. Government agencies with no stated maturity. Bw Nw The nominal yield on mortgage-backed securities is based upon prepayment assumptions at the purchase date. Actual yields earned may differ significantly based upon actual prepayments. Expected maturities may differ from contractual maturities because borrowers may have the right to-call or prepay obligations with or without penalty.