Huntington National Bank 2011 Annual Report Download - page 200
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 |
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Fair Value Measurements at Reporting Date Using Netting
Adjustments (1)
Balance at
December 31,
2010Level 1 Level 2 Level 3
(dollar amounts in thousands)
Assets
Mortgage loans held for sale ..... $ — $ 754,117 $ — $ — $ 754,117
Trading account securities:
U.S. Treasury securities ....... 47,430 — — — 47,430
Federal agencies: Mortgage-
backed ................... — 10,860 — — 10,860
Federal agencies: Other
agencies ................. — 24,853 — — 24,853
Municipal securities .......... — 30,205 — — 30,205
Other securities .............. 69,017 3,039 — — 72,056
116,447 68,957 — — 185,404
Available-for-sale and other
securities:
U.S. Treasury securities ....... 51,781 — — — 51,781
Federal agencies: Mortgage-
backed ................... — 4,754,404 — — 4,754,404
TLGP securities ............. — 183,467 — — 183,467
Federal agencies: Other
agencies (3) .............. — 2,058,376 — — 2,058,376
Municipal securities .......... — 305,909 149,806 — 455,715
Private-label CMO ........... — — 121,925 — 121,925
Asset-backed securities ....... — 1,044,438 162,684 — 1,207,122
Covered bonds .............. — 367,209 — — 367,209
Corporate debt .............. — 323,389 — — 323,389
Other securities .............. 53,286 9,848 — — 63,134
105,067 9,047,040 434,415 — 9,586,522
Automobile loans .............. — — 522,717 — 522,717
MSRs ....................... — — 125,679 — 125,679
Derivative assets ............... 23,514 390,361 2,817 (70,559) 346,133
Liabilities
Securitization trust notes
payable .................... — 356,089 — — 356,089
Derivative liabilities ............ 3,990 233,399 1,851 — 239,240
Other liabilities ................ — — — — —
(1) Amounts represent the impact of legally enforceable master netting agreements that allow the Company to
settle positive and negative positions and cash collateral held or placed with the same counterparties.
(2) During 2011, Huntington transferred $469.1 million of federal agencies: mortgage-backed securities from
the available-for-sale securities portfolio to the held-to-maturity securities portfolio. These securities are
valued at amortized cost and no longer classified within the fair value hierarchy. All securities were
previously classified as Level 2 in the fair value hierarchy.
(3) Amounts were transferred from Level 1 to Level 2 in 2010 due to lack of sufficient market activity for these
securities.
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