Huntington National Bank 2007 Annual Report Download - page 55

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Table 28 — Federal Funds Purchased and Repurchase Agreements
(in millions of dollars) 2007 2006 2005 2004 2003
At December 31,
Balance at year end $2,706 $1,632 $1,820 $1,124 $1,378
Weighted average interest rate at year-end 3.54% 4.25% 3.46% 1.31% 0.73%
Maximum amount outstanding at month-end during the year $2,961 $2,366 $1,820 $1,671 $2,439
Average amount outstanding during the year 2,295 1,822 1,319 1,356 1,707
Weighted average interest rate during the year 4.14% 4.02% 2.41% 0.88% 1.22%
Other potential sources of liquidity include the sale or maturity of investment securities, the sale or securitization of loans, and the
issuance of common and preferred securities. The Bank also has access to the Federal Reserve’s discount window. At December 31,
2007, a total of $4.5 billion of commercial loans were pledged to secure potential future borrowings through this facility.
The relatively short-term nature of our loans and leases also provides significant liquidity. As shown in Table 29, of the $22.3 billion
total commercial loans at December 31, 2007, approximately 33% matures within one year. In addition, during 2007 and 2006,
$253 million and $691 million, respectively, in indirect automobile loans were sold, with such sales representing another source of
liquidity.
Table 29 — Maturity Schedule of Commercial Loans
(in millions of dollars)
One Year
or Less
One to
Five Years
After
Five Years Total
Percent
of Total
At December 31, 2007
Commercial and industrial $4,708 $ 6,052 $2,366 $13,126 58.8%
Commercial real estate — construction 671 1,190 101 1,962 8.8
Commercial real estate — commercial 1,962 2,817 2,442 7,221 32.4
Total $7,341 $10,059 $4,909 $22,309 100.0%
Variable interest rates $6,900 $ 7,804 $4,285 $18,989 85.1%
Fixed interest rates 441 2,255 624 3,320 14.9
Total $7,341 $10,059 $4,909 $22,309 100.0%
Percent of total 32.9% 45.1% 22.0% 100.0%
At December 31, 2007, the portfolio of investment securities totaled $4.5 billion, of which $2.3 billion was pledged to secure public
and trust deposits, interest rate swap agreements, U.S. Treasury demand notes, and securities sold under repurchase agreements.
The composition and maturity of these securities are presented in Table 30. Another source of liquidity is non-pledged securities,
which decreased to $1.7 billion at December 31, 2007, from $2.7 billion at December 31, 2006.
53
MANAGEMENT’S DISCUSSION AND ANALYSIS HUNTINGTON BANCSHARES INCORPORATED