Huntington National Bank 2010 Annual Report Download - page 53

reduction in the line-of-credit utilization in our automobile dealer floorplan exposure, partially offset by
the 2009 reclassifications.
• $1.0 billion, or 22%, decline in average automobile loans and leases due to the 2009 securitization of
$1.0 billion of automobile loans, as well as the continued runoff of the automobile lease portfolio.
• $0.5 billion, or 9%, decline in residential mortgages reflecting the impact of loan sales, as well as the
continued refinance of portfolio loans. The majority of this refinance activity was fixed-rate loans,
which we typically sell in the secondary market.
Partially offset by:
• $0.2 billion, or 3%, increase in average home equity loans reflecting higher utilization of existing lines
resulting from higher quality borrowers taking advantage of the current relatively lower interest rate
environment, as well as a slowdown in runoff.
Total average investment securities increased $1.7 billion, or 38%, as the cash proceeds from core deposit
growth and the capital actions initiated during 2009 were deployed. This increase was partially offset by a
$0.9 billion, or 87%, decline in trading account securities due to the reduction in the use of these securities to
hedge MSRs.
The $1.6 billion, or 4%, increase in average total deposits reflected:
• $2.9 billion, or 9%, growth in total core deposits, primarily reflecting increased sales efforts and
initiatives for deposit accounts.
Partially offset by:
• $1.4 billion, or 24%, decline in average noncore deposits, reflecting a managed decline in public fund
deposits as well as planned efforts to reduce our reliance on noncore funding sources.
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