Huntington National Bank 2007 Annual Report Download - page 56

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Table 30 — Investment Securities
(in thousands of dollars) 2007 2006 2005
At December 31,
U.S. Treasury $ 556 $ 1,856 $ 23,675
Federal agencies 1,744,216 1,431,410 1,615,488
Other 2,755,399 2,929,658 2,887,357
Total investment securities $4,500,171 $4,362,924 $4,526,520
Duration in years
(1)
3.2 3.2 2.8
Amortized
Cost Fair Value Yield
(2)
U.S. Treasury
Under 1 year $ 299 $ 303 3.89%
1-5 years 250 253 3.89
6-10 years ———
Over 10 years ———
Total U.S. Treasury 549 556 3.89
Federal agencies
Mortgage backed securities
Under 1 year ———
1-5 years ———
6-10 years 11 5.98
Over 10 years 1,559,387 1,571,991 5.96
Total mortgage-backed Federal agencies 1,559,388 1,571,992 5.96
Other agencies
Under 1 year 101,367 101,412 5.14
1-5 years 62,121 64,010 5.19
6-10 years 6,707 6,802 5.93
Over 10 years ———
Total other Federal agencies 170,195 172,224 5.17
Total Federal agencies 1,729,583 1,744,216 5.89
Municipal securities
Under 1 year 61 61 7.69
1-5 years 14,814 15,056 5.89
6-10 years 179,423 181,018 5.89
Over 10 years 497,086 501,191 6.70
Total municipal securities 691,384 697,326 6.47
Private label CMO
Under 1 year ———
1-5 years ———
6-10 years ———
Over 10 years 784,339 783,047 5.77
Total private label CMO 784,339 783,047 5.77
Asset backed securities
Under 1 year ———
1-5 years ———
6-10 years ———
Over 10 years 869,654 834,489 6.13
Total asset backed securities 869,654 834,489 6.13
Other
Under 1 year 2,750 2,744 4.74
1-5 years 10,399 10,401 4.77
6-10 years 446 452 5.50
Over 10 years 3,606 4,004 —
Non-marketable equity securities 414,583 414,583 6.31
Marketable equity securities 8,368 8,353 5.34
Total other 440,152 440,537 6.13
Total investment securities $4,515,661 $4,500,171 6.02%
(1) The average duration assumes a market driven pre-payment rate on securities subject to pre-payment.
(2) Weighted average yields were calculated using amortized cost on a fully taxable equivalent basis, assuming a 35% tax rate.
54
MANAGEMENT’S DISCUSSION AND ANALYSIS HUNTINGTON BANCSHARES INCORPORATED