Huntington National Bank 2012 Annual Report Download - page 178
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170
Fair Value Measurements at Reporting Date Using Netting Balance at
(dollar amounts in thousands) Level 1 Level 2 Level 3 Adjustments (1) December 31, 2011
Assets
Mortgage loans held for sale $ --- $ 343,588 $ --- $ --- $ 343,588
Trading account securities:
Federal agencies: Mortgage-backed --- 5,541 --- --- 5,541
Municipal securities --- 8,147 --- --- 8,147
Other securities 32,085 126 --- --- 32,211
32,085 13,814 --- --- 45,899
Available-for-sale and other securities:
U.S. Treasury securities 53,204 --- --- --- 53,204
Federal agencies: Mortgage-backed (2) --- 4,464,892 --- --- 4,464,892
Federal agencies: Other agencies --- 735,544 --- --- 735,544
Municipal securities --- 312,634 95,092 --- 407,726
Private-label CMO --- --- 72,364 --- 72,364
Asset-backed securities --- 845,390 121,698 --- 967,088
Covered bonds --- 504,045 --- --- 504,045
Corporate debt --- 528,883 --- --- 528,883
Other securities 53,619 4,134 --- --- 57,753
106,823 7,395,522 289,154 --- 7,791,499
Automobile loans --- --- 296,250 --- 296,250
MSRs --- --- 65,001 --- 65,001
Derivative assets 4,886 485,428 6,770 (94,082) 403,002
Liabilities
Securitization trust notes payable --- 123,039 --- --- 123,039
Derivative liabilities 12,245 246,132 6,939 --- 265,316
Other liabilities --- 751 --- --- 751
(1) Amounts represent the impact of legally enforceable master netting agreements that allow the Company to settle positive and
negative positions and cash collateral held or placed with the same counterparties.
(2) During 2012 and 2011, Huntington transferred $278.2 million and $469.1 million, respectively of federal agencies: mortgage-backed
securities from the available-for-sale securities portfolio to the held-to-maturity securities portfolio. These securities are valued at
amortized cost and no longer classified within the fair value hierarchy. All securities were previously classified as Level 2 in the fair
value hierarchy.