Huntington National Bank 2011 Annual Report Download - page 166

Troubled Debt Restructurings Within The Previous Twelve Months
That Have Subsequently Redefaulted During The
Year ended December 31, 2011(1)
Number of
Contracts
Ending
Balance
(dollar amounts in thousands)
Other consumer:
Interest rate reduction ........................ 1 $ —
Amortization or maturity date change ........... 11 —
Other ..................................... — —
Total Other consumer .......................... 12 $ —(3)
TOTAL ..................................... 359 $41,442
(1) Subsequent redefault is defined as a payment redefault within 12 months of the restructuring date.
(2) Automobile loans are charged-off at time of subsequent redefault. During the year ended December 31,
2011, $1,477 thousand of total automobile loans were charged-off at the time of subsequent redefault.
(3) Other consumer loans are charged-off at time of subsequent redefault. During the year ended December 31,
2011, $117 thousand of total other consumer loans were charged-off at the time of subsequent redefault.
Pledged Loans and Leases
The Bank has access to the Federal Reserve’s discount window and advances from the FHLB – Cincinnati.
At December 31, 2011, these borrowings and advances are secured by $18.8 billion of loans.
Franklin Relationship
Franklin is a specialty consumer finance company. On March 31, 2009, Huntington entered into a
transaction with Franklin in which a Huntington wholly-owned REIT subsidiary (REIT) exchanged certain
noncontrolling equity interests for a 100% interest in Franklin Asset Merger Sub, LLC (Merger Sub), a wholly-
owned subsidiary of Franklin. The equity interests provided to Franklin by REIT were pledged by Franklin as
collateral for Franklin commercial loans.
In 2011, Franklin’s equity interests in REIT were voluntarily surrendered in return for a reduction of a
portion of defaulted commercial loans as a result of a default under the Legacy Credit Agreement. As of
December 31, 2011, Franklin does not own any equity interests in REIT.
4. AVAILABLE-FOR-SALE AND OTHER SECURITIES
Contractual maturities of available-for-sale and other securities as of December 31 were:
2011 2010
Amortized
Cost Fair Value
Amortized
Cost Fair Value
(dollar amounts in thousands)
Under 1 year ....................... $ 103,747 $ 104,074 $ 335,192 $ 337,715
1 — 5 years ........................ 2,608,656 2,614,845 3,540,183 3,510,490
6 — 10 years ....................... 870,324 887,725 1,128,657 1,139,727
Over 10 years ...................... 4,201,047 4,131,236 4,685,902 4,545,304
Nonmarketable equity securities ........ 286,515 286,515 308,722 308,722
Marketable equity securities ........... 53,665 53,619 53,944 53,286
Total available-for-sale and other
securities ........................ $8,123,954 $8,078,014 $10,052,600 $9,895,244
Other securities at December 31, 2011 and 2010 include $165.6 million of stock issued by the FHLB of
Cincinnati, $0.0 million and $37.4 million, respectively, of stock issued by the FHLB of Indianapolis, and $120.9
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