Huntington National Bank 2010 Annual Report Download - page 198
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MSRs
Derivative
Instruments
Municipal
Securities
Private
Label CMO
Asset-
Backed
Securities
Automobile
Loans
Equity
Investments
Available-for-Sale Securities
Level 3 Fair Value Measurements
Year Ended December 31, 2008
(Dollar amounts in thousands)
Balance, beginning of
year ................. $207,894 $ (46) $— $ — $ 834,489 $— $41,516
Total gains/losses:
Included in earnings ..... (40,769) 8,683 — (3,435) (195,377) — (9,242)
Included in OCI ........ — — — (149,699) (153,690) — —
Purchases ............... — — — — — — 4,619
Sales................... 313 — — — — — —
Repayments ............. — — — — — — —
Issuances ............... — — — — — — —
Settlements .............. — (505) — (97,126) (30,667) — —
Transfers in/out of
Level 3(2) ............. — — — 773,775 9,272 — —
Balance, end of year ...... $167,438 $8,132 $— $ 523,515 $ 464,027 $— $36,893
The amount of total gains or
losses for the period
included in earnings (or
OCI) attributable to the
change in unrealized gains
or losses relating to assets
still held at reporting
date.................. $(40,769) $8,179 $— $(153,134) $(349,067) $— $ (3,469)
(2) Transferred in to Level 3 as a result of a lack of observable market data due to a decrease in market
activity.
The tables below summarize the classification of gains and losses due to changes in fair value, recorded
in earnings for Level 3 assets and liabilities for the years ended December 31, 2010, 2009, and 2008.
MSRs
Derivative
Instruments
Municipal
Securities
Private
Label CMO
Asset-
Backed
Securities
Automobile
Loans
Equity
Investments
Available-for-Sale Securities
Level 3 Fair Value Measurements
Year Ended December 31, 2010
(Dollar amounts in thousands)
Classification of gains and
losses in earnings:
Mortgage banking income
(loss) .................. $(50,748) $4,413 $— $ — $ — $ — $—
Securities gains (losses) ...... — — — (7,149) (6,554) — —
Interest and fee income....... — — — 2,032 394 (11,202) —
Noninterest income.......... — — — — — 8,935 —
Total .................... $(50,748) $4,413 $— $(5,117) $(6,160) $ (2,267) $—
184