Huntington National Bank 2012 Annual Report Download - page 148

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(1) Subsequent redefault is defined as a payment redefault within 12 months of the restructuring date. Payment
redefault is defined as 90-days past due for any loan in any portfolio or class. Any loan in any portfolio may
be considered to be in payment redefault prior to the guidelines noted above when collection of principal or
interest is in doubt.
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Pledged Loans and Leases
The Bank has access to the Federal Reserve’s discount window and advances from the FHLB – Cincinnati. At December 31,
2012, these borrowings and advances are secured by $18.4 billion of loans.
4. AVAILABLE-FOR-SALE AND OTHER SECURITIES
Contractual maturities of available-for-sale and other securities as of December 31 were:
2012 2011
Amortized Fair Amortized Fair
(dollar amounts in thousands) Cost Value Cost Value
Under 1 year $ 60,054 $ 60,651 $ 103,747 $ 104,074
1 - 5 years 1,961,217 2,005,022 2,608,656 2,614,845
6 - 10 years 1,170,807 1,208,054 870,324 887,725
Over 10 years 3,989,977 3,967,196 4,201,047 4,131,236
Other securities:
N
onmarketable equity securities 308,075 308,075 286,515 286,515
Marketable equity securities 16,877 17,177 53,665 53,619
Total available-for-sale and other securities $ 7,507,007 $ 7,566,175 $ 8,123,954 $ 8,078,014
Other securities at December 31, 2012 and 2011 include nonmarketable equity securities of $165.6 million of stock issued by the
FHLB of Cincinnati, $3.5 million and none, respectively, of stock issued by the FHLB of Indianapolis, and $139.0 million and $120.9
million, of Federal Reserve Bank stock, respectively. Nonmarketable equity securities are valued at amortized cost. Other securities
also include marketable equity securities. At December 31, 2012 and 2011, Huntington did not have any material equity positions in
FNMA or FHLMC.
The following tables provide amortized cost, fair value, and gross unrealized gains and losses recognized in OCI by investment
category at December 31, 2012 and 2011:
Unrealized
Amortized Gross Gross Fair
(dollar amounts in thousands) Cost Gains Losses Value
December 31, 2012
U.S. Treasury $ 51,620 $ 691 $ --- $ 52,311
Federal agencies:
Mortgage-backed securities 4,149,964 114,984 (278) 4,264,670
Other agencies 348,846 10,781 (1) 359,626
Total U.S. government backed securities 4,550,430 126,456 (279) 4,676,607
Municipal securities 489,080 13,927 (2,007) 501,000
Private-label CMO 75,557 1,087 (5,076) 71,568
Asset-backed securities (1) 1,126,315 16,287 (113,519) 1,029,083
Covered bonds 282,080 8,545 --- 290,625
Corporate debt 654,693 15,301 (1,852) 668,142
Other securities 328,852 333 (35) 329,150
Total available-for-sale and other securities $ 7,507,007 $ 181,936 $ (122,768) $ 7,566,175
(1) Amounts at December 31, 2012 include securities backed by automobile loans with a fair value of $3 million which meet the
eligibility requirements for the Term Asset-Backed Securities Loan Facility, administered by the Federal Reserve Bank.