Huntington National Bank 2003 Annual Report Download - page 112

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Contractual maturities of securities available for sale as of December 31 were:
2003 2002
(in thousands of dollars)
Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Under 1 year $ 183,622 $ 186,019 $ 42,056 $ 43,149
1 - 5 years 694,000 703,409 868,600 896,651
6 - 10 years 968,537 964,206 414,122 424,287
Over 10 years 3,050,383 3,055,131 1,802,257 1,835,670
Retained interests in securitizations 5,593 6,356 146,160 159,978
Marketable equity securities 8,547 10,111 42,846 43,634
Total Securities Available For Sale $4,910,682 $4,925,232 $3,316,041 $3,403,369
At December 31, 2003, the carrying value of securities pledged to secure public and trust deposits, trading account liabilities, U.S.
Treasury demand notes, and security repurchase agreements totaled $2.6 billion. There were no securities of a single issuer, which are
non-governmental or government-sponsored, that exceeded 10% of shareholders’ equity at December 31, 2003.
Gross gains from sales of securities of $14.5 million, $5.4 million, and $9.2 million, were realized in 2003, 2002, and 2001, respectively.
Gross losses totaled $9.2 million in 2003, $0.5 million in 2002, and $8.5 million in 2001. There were no other than temporary
impairments of any securities recognized in 2003, 2002, or 2001.
5. Investment Securities
Investment securities held to maturity at December 31, 2003 and 2002, were comprised of investments in obligations of states and
political subdivisions. The amortized cost, unrealized gains and losses, and fair values of investment securities held to maturity at
December 31 were:
(in thousands of dollars) 2003 2002
Amortized cost $3,828 $7,546
Unrealized gross gains 112 192
Unrealized gross losses (3) (13)
Fair Value $3,937 $7,725
Contractual maturities of investment securities held to maturity with yields adjusted to reflect fully taxable equivalent basis at
December 31 were:
2003 2002
(in thousands of dollars)
Amortized
Cost
Fair
Value Yield
Amortized
Cost
Fair
Value Yield
Under 1 year $1,394 $1,417 5.35% $2,775 $2,793 7.37%
1 - 5 years 1,691 1,742 5.34 3,096 3,209 8.03
6 - 10 years 743 778 5.46 1,432 1,471 8.49
Over 10 years — — — 243 252 8.18
Total Investment Securities $3,828 $3,937 5.37% $7,546 $7,725 7.88%
110 HUNTINGTON BANCSHARES INCORPORATED