CASH 2017 Annual Report

20 The following table sets forth the carrying value of the Company’s investment securities portfolio, excluding mortgage- backed securities and other Benefit Equalization Plan equity securities, at the dates indicated. At September 30, 2017 2016 2015 (Dollars in Thousands) Investment Securities AFS Trust preferred and corporate securities $ — $ 12,978 $ 13,944 Asset backed securities 96,832 116,815 — Small business administration securities 57,871 80,719 56,056 Non-bank qualified obligations of states and political subdivisions 950,829 698,672 608,590 Common equities and mutual funds 1,445 1,125 914 Subtotal AFS 1,106,977 910,309 679,504 Investment Securities HTM Obligations of states and political subdivisions 19,247 20,626 19,540 Non-bank qualified obligations of states and political subdivisions (1) 430,593 465,469 259,627 Subtotal HTM 449,840 486,095 279,167 FHLB Stock 61,123 47,512 24,410 Total Investment Securities and FHLB Stock $ 1,617,940 $ 1,443,916 $ 983,081 Other Interest-Earning Assets: Interest bearing deposits in other financial institutions and Federal Funds Sold (2) $ 1,227,308 $ 513,441 $ 10,051 (1) Includes $3.1 million of taxable obligations of states and political subdivisions. (2) From time to time, the Company maintains balances in excess of insured limits at various financial institutions, including the FHLB, the FRB, and other private institutions. At September 30, 2017, the Company had $1.23 billion in interest bearing deposits held at the FRB and $0.5 million at other institutions. At September 30, 2017, the Company did not have interest bearing deposits held at the FHLB and had no federal funds sold at a private institution.