Huntington National Bank 2004 Annual Report Download - page 64

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MANAGEMENT’S DISCUSSION AND ANALYSIS HUNTINGTON BANCSHARES INCORPORATED
Table 21 — Investment Securities
At December 31,
(in thousands of dollars) 2004 2003 2002
U.S. Treasury and Federal Agencies $1,970,898 $3,285,916 $2,627,684
Other 2,268,047 1,643,144 783,231
Total investment securities $4,238,945 $4,929,060 $3,410,915
Amortized
Cost Fair Value Yield(1)
U.S. Treasury
Under 1 year $—$— —%
1-5 years 24,233 24,304 3.55
6-10 years 754 832 5.04
Over 10 years ———
Total U.S. Treasury 24,987 25,136 3.60
Federal Agencies
Mortgage backed securities
Under 1 year ———
1-5 years 1,362 1,390 5.34
6-10 years 38,814 38,589 3.94
Over 10 years 945,670 933,538 3.74
Total mortgage-backed 985,846 973,517 3.75
Other agencies
Under 1 year 500 503 5.98
1-5 years 535,502 530,670 3.29
6-10 years 450,952 441,072 3.88
Over 10 years ———
Total other agencies 986,954 972,245 3.56
Total U.S. Treasury and Federal Agencies 1,997,787 1,970,898 3.66
Municipal securities
Under 1 year 5,997 6,032 9.61
1-5 years 9,990 10,392 8.51
6-10 years 83,102 83,771 5.75
Over 10 years 311,525 316,029 6.78
Total municipal securities 410,614 416,224 6.66
Private Label CMO
Under 1 year ———
1-5 years ———
6-10 years ———
Over 10 years 462,394 458,027 4.59
Total Private Label CMO 462,394 458,027 4.59
Asset backed securities
Under 1 year ———
1-5 years 30,000 30,000 3.25
6-10 years 8,084 8,155 4.85
Over 10 years 1,160,212 1,161,827 3.85
Total asset backed securities 1,198,296 1,199,982 3.84
Other
Under 1 year 2,100 2,118 5.51
1-5 years 9,102 9,384 4.93
6-10 years 2,913 2,980 4.87
Over 10 years 169,872 173,131 4.58
Retained interest in securitizations ———
Marketable equity securities 5,526 6,201 0.85
Total other 189,513 193,814 4.42
Total investment securities $4,258,604 $4,238,945 4.13%
(1) Weighted average yields were calculated using amortized cost and on a fully tax equivalent basis assuming a 35% tax rate.
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