Huntington National Bank 2003 Annual Report Download - page 119

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
12. Deposits
At December 31, deposits were comprised of the following:
(in thousands of dollars) 2003 2002
Demand deposits
Non-interest bearing $ 2,986,992 $ 3,058,044
Interest bearing 6,411,380 5,389,920
Savings deposits 2,959,993 2,851,158
Retail certificates of deposit 2,461,531 3,261,403
Other domestic time deposits 631,205 694,903
Total Core Deposits 15,451,101 15,255,428
Domestic time deposits of $100,000 or more 789,341 731,959
Brokered time deposits and negotiable CDs 1,771,738 1,092,754
Foreign time deposits 475,215 419,185
Total Deposits $18,487,395 $17,499,326
Core deposits are comprised of interest bearing and non-interest bearing demand deposits, savings deposits, retail certificates of
deposit, and other domestic time deposits. Other domestic time deposits are comprised of certificates of deposit under $100,000 and all
IRA deposits. Brokered time deposits represent funds obtained by or through a deposit broker. At December 31, 2003, $900 million of
brokered deposits were issued in denominations of $100,000 or more and participated by the broker in shares of $100,000 or less.
Foreign time deposits were comprised of time certificates of deposit issued by Huntington’s foreign offices in denomination of
$100,000 or more. Foreign deposits are interest bearing and all mature in one year or less.
The aggregate amount of certificates of deposit and other time deposits outstanding in domestic offices was $5.7 billion and $5.8 billion
at December 31, 2003 and 2002, respectively. The contractual maturity of these deposits at the end of 2003 was as follows: $2.7 billion
in 2004; $971 million in 2005; $619 million in 2006; $537 million in 2007; $185 million in 2008; and $684 million thereafter.
Domestic certificates of deposit and other time deposits of $100,000 or more totaled $2.6 billion at the end of 2003 and $1.9 billion at
the end of 2002. The contractual maturity of these deposits at December 31, 2003, was as follows: $680 million in three months or less;
$296 million after three months through six months; $254 million after six months through twelve months; and $1,406 million after
twelve months.
Demand deposit overdrafts that have been reclassified as loan balances were $16.6 million and $18.2 million at December 31, 2003 and
2002, respectively.
13. Short-term Borrowings
At December 31, short-term borrowings were comprised of the following:
(in thousands of dollars) 2003 2002
Federal funds purchased $ 230,585 $1,244,637
Securities sold under agreements to repurchase 1,147,473 813,886
Commercial paper 3,481 5,031
Other 70,765 77,462
Total Short-term Borrowings $1,452,304 $2,141,016
Information concerning securities sold under agreements to repurchase at December 31 is summarized as follows:
(in thousands of dollars) 2003 2002
Average balance during the year $ 880,363 $1,012,690
Average interest rate during the year 0.73% 1.15%
Maximum month-end balance during the year $1,276,761 $1,487,819
Commercial paper is issued by Huntington Bancshares Financial Corporation, a non-bank subsidiary, with principal and interest
guaranteed by the parent company.
HUNTINGTON BANCSHARES INCORPORATED 117