Huntington National Bank 2011 Annual Report Download - page 174
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Listed below are the contractual maturities (under 1 year, 1-5 years, 6-10 years, and over 10 years) of
held-to-maturity securities at December 31, 2011. There were no securities classified as held-to-maturity at
December 31, 2010.
December 31, 2011
Amortized
Cost Fair Value
(dollar amounts in thousands)
Federal agencies: mortgage-backed securities:
Under 1 year ............................................. $—$—
1-5 years ................................................ ——
6-10 years ............................................... ——
Over 10 years ............................................ 640,551 660,186
Total Federal agencies: mortgage-backed securities ................... 640,551 660,186
Total U.S. Government backed agencies ............................. 640,551 660,186
Total held-to-maturity securities .................................... $640,551 $660,186
The following table provides amortized cost, gross unrealized gains and losses, and fair value by investment
category at December 31, 2011:
Unrealized
Amortized
Cost
Gross
Gains
Gross
Losses Fair Value
(dollar amounts in thousands)
December 31, 2011
Federal Agencies:
Mortgage-backed securities ..................... $640,551 $19,652 $(17) $660,186
Total U.S. Government backed securities ............ 640,551 19,652 (17) 660,186
Total held-to-maturity securities ................... $640,551 $19,652 $(17) $660,186
Security Impairment
Huntington evaluates the held-to-maturity securities portfolio on a quarterly basis for impairment.
Impairment would exist when the present value of the expected cash flows is not sufficient to recover the entire
amortized cost basis at the balance sheet date. Under these circumstances, any impairment would be recognized
in earnings. As of December 31, 2011, Management has evaluated all held-to-maturity securities and concluded
no impairment existed in the portfolio.
6. LOAN SALES AND SECURITIZATIONS
Residential Mortgage Loans
The following table summarizes activity relating to residential mortgage loans sold with servicing retained
for the years ended December 31, 2011, 2010, and 2009.
2011 2010 2009
(dollar amounts in thousands)
Residential mortgage loans sold with servicing retained . . $3,078,475 $3,943,830 $4,307,526
Pretax gains resulting from above loan sales(1) ......... 77,591 106,495 87,192
(1) Recorded in noninterest income.
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