Huntington National Bank 2011 Annual Report Download - page 212
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The carrying amount and classification of the trusts’ assets and liabilities included in the Consolidated
Balance Sheets are as follows:
2009
Franklin
Trust
2009
Automobile
Trust
2008
Automobile
Trust
2006
Automobile
Trust Total
(dollar amounts in thousands) December 31, 2011
Assets:
Cash ................................... $ — $ 18,212 $ 12,722 $ 52,325 $ 83,259
Loans and leases ......................... — 296,250 131,563 704,345 1,132,158
Allowance for loan and lease losses .......... — — (1,118) (5,987) (7,105)
Net loans and leases ....................... — 296,250 130,445 698,358 1,125,053
Accrued income and other assets ............ 1,117 1,692 610 2,959 6,378
Total assets ................................ $1,117 $316,154 $143,777 $753,642 $1,214,690
Liabilities:
Other long-term debt ..................... $ — $123,039 $ 18,230 $333,644 $ 474,913
Accrued interest and other liabilities ........ 419 298 40 88 845
Total liabilities ............................. $ 419 $123,337 $ 18,270 $333,732 $ 475,758
2009
Franklin
Trust
2009
Automobile
Trust
2008
Automobile
Trust
2006
Automobile
Trust Total
(dollar amounts in thousands) December 31, 2010
Assets:
Cash .................................. $ — $ 24,513 $ 19,921 $ 64,827 $ 109,261
Loans and leases ......................... — 522,717 295,464 1,196,024 2,014,205
Allowance for loan and lease losses .......... — — (2,541) (10,286) (12,827)
Net loans and leases ...................... — 522,717 292,923 1,185,738 2,001,378
Accrued income and other assets ............ 20,447 2,510 1,436 5,131 29,524
Total assets ............................... $20,447 $549,740 $314,280 $1,255,696 $2,140,163
Liabilities:
Other long-term debt ..................... $ — $356,089 $151,937 $ 877,270 $1,385,296
Accrued interest and other liabilities ......... 7,431 693 308 224 8,656
Total liabilities ............................ $ 7,431 $356,782 $152,245 $ 877,494 $1,393,952
The automobile loans and leases were designated to repay the securitized notes. Huntington services the
loans and leases and uses the proceeds from principal and interest payments to pay the securitized notes during
the amortization period. Huntington has not provided financial or other support that was not previously
contractually required.
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