Huntington National Bank 2014 Annual Report Download - page 159

Download and view the complete annual report

Please find page 159 of the 2014 Huntington National Bank annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 208

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207
  • 208

153
Activity in accumulated OCI for the three years ended December 31, were as follows:
(dollar amounts in thousands)
Unrealized
gains and
(losses) on
deb
t
securities (1)
Unrealized
gains and
(losses) on
equity
securities
Unrealize
d
gains an
d
(losses) on
cash flow
hedging
derivatives
Unrealize
d
gains (losses)
for pension
and othe
r
post-
retirement
obligations Total
Balance, December 31, 2012 38,304 194 47,084 (236,399) (150,817)
Other comprehensive income before reclassifications (81,575) 98 (56,056) 88,694 (48,839)
Amounts reclassified from accumulated OCI to earnings 4,037 --- (9,872) (8,518) (14,353)
Period change (77,538) 98 (65,928) 80,176 (63,192)
Balance, December 31, 2013 (39,234) 292 (18,844) (156,223) (214,009)
Other comprehensive income before reclassifications 64,484 192 9,192 --- 73,868
Amounts reclassified from accumulated OCI to earnings (10,113) --- (2,581) (69,457) (82,151)
Period change 54,371 192 6,611 (69,457) (8,283)
Balance, December 31, 2014 $ 15,137 $ 484 $ (12,233) $ (225,680) $ (222,292)
(1) Amount at December 31, 2014 includes $0.8 million of net unrealized gains on securities transferred from the available-for-sale
securities portfolio to the held-to-maturity securities portfolio in prior years. The net unrealized gains will be recognized in earnings
over the remaining life of the security using the effective interest method.
The following table presents the reclassification adjustments out of accumulated OCI included in net income and the
impacted line items as listed on the Consolidated Statements of Income for the year ended December 31, 2014:
Reclassifications out of accumulated OCI
Amounts reclassed Location of net gain (loss)
Accumulated OCI components from accumulated OCI reclassified from accumulated OCI into earnings
(dollar amounts in thousands) 2014 2013
Gains (losses) on debt securities:
Amortization of unrealized gains (losses) $ 597
$
482
Interest income - held-to-maturity securities -
taxable
Realized gain (loss) on sale of securities 14,962 (4,891)
Noninterest income - net gains (losses) on sale of
securities
OTTI recorded --- (1,802)
Noninterest income - net gains (losses) on sale of
securities
15,559 (6,211) Total before tax
(5,446) 2,174 Tax (expense) benefit
$ 10,113
$
(4,037) Net of tax
Gains (losses) on cash flow hedging relationships:
Interest rate contracts $ 4,064
$
14,979 Interest and fee income - loans and leases
Interest rate contracts --- 209 Interest and fee income - investment securities
Interest rate contracts (93) --- Noninterest expense - other income
3,971 15,188 Total before tax
(1,390) (5,316) Tax (expense) benefit
$ 2,581
$
9,872 Net of tax