Huntington National Bank 2009 Annual Report Download - page 102

insurance covera
g
e. The TAGP is a voluntar
y
pro
g
ram provided b
y
the FDIC as part of its TLGP. Under th
e
pro
g
ram, all noninterest-bearin
g
transaction accounts are full
yg
uaranteed b
y
the FDIC for the customer’
s
entire account balance. This pro
g
ram provides our customers with additional deposit insurance covera
g
e, and
is in addition to and separate from the
$
250,000 covera
g
e available under the FDIC’s
g
eneral deposit insuranc
e
rules. At December 31, 2009, noninterest-bearin
g
transaction account balances exceedin
g$
250,000 totale
d
$
2.5 billion, and represented the amount of noninterest-bearin
g
transaction customer deposits that would not
have been FDIC insured without the additional covera
g
e provided b
y
the TAGP.
A
s referenced in the above para
g
raph, the FDIC establishes a covera
g
e limit,
g
enerall
y$
250,00
0
currentl
y
, for interest-bearin
g
deposit balances. To provide our customers deposit insurance above the
established
$
250,000, we have
j
oined the Certificate of Deposit Account Re
g
istr
y
Service (CDARS),
a
pro
g
ram that allows customers to invest up to
$
50 million in certificates of deposit throu
g
h one participatin
g
fi
nanc
i
a
li
nst
i
tut
i
on, w
i
t
h
t
h
e ent
i
re amount covere
dby
FDIC
i
nsurance. At Decem
b
er 31, 2009, we
h
a
d
$529.4 million of CDARS de
p
osit balances
.
Demand de
p
osit overdrafts that have been reclassified as loan balances were $40.4 million and
$
17.1 million at December 31, 2009 and 2008, respectivel
y
.
Domestic time deposits of $250,000 or more, brokered deposits and ne
g
otiable CDs totaled $2.7 billion a
t
the end of 2009 and
$
4.7 billion at the end of 2008. The contractual maturities of these de
p
osits a
t
December 31, 2009 were as follows:
$
1.0 billion in three months or less,
$
0.5 billion in three months throu
gh
six months, $0.8 billion in six months throu
g
h twelve months, and $0.4 billion after twelve months
.
The followin
g
table reflects deposit composition detail for each of the past five
y
ears
.
Table 43 — De
p
osit Com
p
osition
2009 2008 200
7
2006 2005
At December 31
,
(
In millions
)
By Typ
e
Deman
dd
e
p
os
i
ts — non
i
nterest
-
b
ear
i
n
g
................
.
$
6
,
907 17
%
$
5
,
477 14%
$
5
,
138 14%
$
3
,
616 14%
$
3
,
390 15%
Demand de
p
osits — interest
-
b
ear
i
n
g
................
.
5
,890 1
54
,
083 11 4
,
049 11 2
,
389 10 2
,
01
69
M
one
y
market deposits . . . . . . . 9
,
485 23 5
,
182 14 6
,
643 18 5
,
362 21 5
,
364 2
4
Sav
i
n
g
san
d
ot
h
er
d
omest
i
ct
i
m
e
d
e
p
os
i
ts ...............
.
4,6
5
211
4
,
930 13
5,
282 14 3
,
101 12 3
,
178 1
4
Core cert
ifi
cates o
fd
epos
i
t....
.
10
,
4
5
326
12
,
8
5
634 10
,
8
5
129
5,
430 22 4
,
024 1
8
Total core de
p
os
i
t
s
............
3
7
,38
7
92
32
,5
28 86 31
,
963 86 19
,
898 79 17
,
972 8
0
Ot
h
er
d
omest
i
ct
i
me
d
e
p
os
i
ts o
f
$
250
,
000 or more . . . . . . . . . .
.
6
5
22
1
,
328 3 1
,6
7
6
41
,
012 4 7
6
73
B
rokered deposits and ne
g
otiable
C
Ds....................
.
2
,
098
5
3
,
354 9 3
,
377 9 3
,
346 13 3
,
200 1
4
Depos
i
ts
i
n
f
ore
ig
no
ffi
ces......
.
3
57
1
7
33 2
7
2
7
1
7
92 4 4
7
13
Total de
p
osit
s
.................
$40
,
494 100
%
$
37
,
943 100%
$
37
,
743 100%
$
25
,
048 100%
$
22
,
410 100
%
Tota
l
core
d
e
p
os
i
ts
:
C
ommercial . . . . . . . . . . . . . . . .
.
$11
,
368 30% $7
,
971 25% $ 9
,
018 28% $ 6
,
063 30% $ 5
,
352 30
%
Personal . . . . . . . . . . . . . . . . . . .
.
26
,
019 7
0
2
4,557 75 22,945 72 13,835 70 12,620 70
Total core depos
i
ts
.............
$
37
,
387 100
%
$
32
,
528 100
%
$
31
,
9
6
3 100
%
$
19,898 100%
$
1
7
,9
7
2 100%
In 2009, we reduced our dependence on noncore funds (total avera
g
e liabilities less avera
g
e core deposit
s
an
d
avera
g
e accrue
d
expenses an
d
ot
h
er
li
a
bili
t
i
es) to 21% o
f
tota
l
avera
g
e assets,
d
own
f
rom 28%
i
n 2008
.
H
owever, to t
h
e extent t
h
at we are una
bl
etoo
b
ta
i
nsu
ffi
c
i
ent
li
qu
idi
t
y
t
h
rou
gh
core
d
epos
i
ts, we ma
y
meet
94