Huntington National Bank 2009 Annual Report Download - page 174

A
ctivit
y
in accumulated other comprehensive income for the three
y
ears ended December 31, were a
s
f
o
ll
o
w
s
:
U
nrealized
G
a
i
ns and
L
osses on
D
e
b
t
S
ecuritie
s
U
nrealize
d
G
a
i
ns and
L
osses o
n
E
q
u
i
t
y
secur
i
t
i
es
U
nrealize
d
G
a
i
ns an
d
Losses o
n
C
ash Flo
w
H
ed
gi
n
g
D
er
i
vat
i
ve
s
A
ccumulated
U
nrealized
Losses for Pensio
n
and
O
the
r
P
ost-Ret
i
remen
t
O
bl
ig
at
i
ons Tota
l
(
In thousands
)
Ba
l
ance, Januar
y
1, 200
7
.........
$
13
,
891
$
363
$
17
,
008
$
(86
,
328)
$
(55
,
066
)
Per
i
o
d
c
h
an
ge
.................
(
23
,
892
)(
373
)(
12
,
455
)
42
,
175 5
,
45
5
Balance
,
December
31, 2007
......
(
10
,
001
)(
10
)
4
,
553
(
44
,
153
)(
49
,
611
)
C
umu
l
at
i
ve e
ff
ect o
f
c
h
an
g
e
in
measurement date
p
rovisions for
p
ens
i
on an
dp
ost-ret
i
rement asset
s
an
d
o
blig
at
i
on
s
............... — — —
(3
,
834) (3
,
834)
Per
i
o
d
c
h
an
g
e
.................
(
197,426
)(
319
)
40,08
5(
11
5
,
5
88
)(
273,248
)
Balance
,
December
31, 2008
......
(
207
,
427
)(
329
)
44
,
638
(
163
,
575
)(
326
,
693
)
C
umu
l
at
i
ve e
ff
ect o
f
c
h
an
g
e
in
accountin
g
principle for OTTI
debt secu
r
ities
...............
(
3,
5
41
)
———
(
3,
5
41
)
Per
i
o
d
c
h
an
g
e
.................
107
,
908 7 14
,
227
5
1
,
107 173
,
24
9
Balance
,
December
31, 2009
......
$
(103
,
060)
$
(322)
$
58
,
865
$
(112
,
468)
$
(156
,
985
)
16.
S
HAREHOLDER
S
’E
Q
UITY
I
ssuance o
f
Common Stoc
k
Dur
i
n
g
2009, Hunt
i
n
g
ton comp
l
ete
d
severa
l
transact
i
ons to
i
ncrease cap
i
ta
l
,
i
n part
i
cu
l
ar, common equ
i
t
y.
In the 2009 third quarter, Huntin
g
ton completed an offerin
g
of 109.
5
million shares of its common stock
at a price to the public of
$
4.20 per share, or
$
460.1 million in a
gg
re
g
ate
g
ross proceeds. In the 2009 secon
d
quarter, Huntin
g
ton completed an offerin
g
of 103.5 million shares of its common stock at a price to the publi
c
of
$
3.60 per share, or
$
372.6 million in a
gg
re
g
ate
g
ross proceeds
.
A
l
so,
d
ur
i
n
g
2009, Hunt
i
n
g
ton comp
l
ete
d
t
h
ree separate
di
scret
i
onar
y
equ
i
t
yi
ssuance pro
g
rams. T
h
ese
pro
g
rams a
ll
owe
d
t
h
e Compan
y
to ta
k
ea
d
vanta
g
eo
f
mar
k
et opportun
i
t
i
es to
i
ssue a tota
l
o
f
92.7 m
illi
on ne
w
shares of common stock worth a total of
$
345.8 million. Sales of the common shares were made throu
gh
ordinar
y
brokers’ transactions on the NASDAQ Global Select Market or otherwise at the prevailin
g
marke
t
p
r
i
ces.
C
onversion o
f
Converti
bl
e Pre
f
erre
d
Stoc
k
In 2008, Huntin
g
ton completed the public offerin
g
of 569,000 shares of 8.50% Series A Non-Cumulative
Per
p
etual Convertible Preferred Stock (Series A Preferred Stock) with a li
q
uidation
p
reference of $1,000
p
er
share, resultin
g
in an a
gg
re
g
ate liquidation preference of
$
569 million
.
166