Huntington National Bank 2013 Annual Report Download - page 146
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The following tables provide detail on HTM securities with unrealized losses aggregated by investment category and the length of
time the individual securities have been in a continuous loss position, at December 31, 2013 and 2012:
Less than 12 Months Over 12 Months Total
Fair Unrealized Fair Unrealized Fair Unrealized
(dollar amounts in thousands ) Value Losses Value Losses Value Losses
December 31, 2013
Federal Agencies:
Mortgage-backed securities $ 2,849,198 $ (73,711) $ 22,548 $ (2,352) $ 2,871,746 $ (76,063)
Other agencies 144,417 (5,191) --- --- 144,417 (5,191)
Total U.S. Government backed securities 2,993,615 (78,902) 22,548 (2,352) 3,016,163 (81,254)
Municipal securities 8,159 (864) --- --- 8,159 (864)
Total temporarily impaired securities $ 3,001,774 $ (79,766) $ 22,548 $ (2,352) $ 3,024,322 $ (82,118)
Less than 12 Months Over 12 Months Total
Fair Unrealized Fair Unrealized Fair Unrealized
(dollar amounts in thousands ) Value Losses Value Losses Value Losses
December 31, 2012
Federal Agencies:
Mortgage-backed securities $ 24,739 $ (162) $ --- $ --- $ 24,739 $ (162)
Total U.S. Government backed securities 24,739 (162) --- --- 24,739 (162)
Total temporarily impaired securities $ 24,739 $ (162) $ --- $ --- $ 24,739 $ (162)
Security Impairment
Huntington evaluates the held-to-maturity securities portfolio on a quarterly basis for impairment. Impairment would exist when
the present value of the expected cash flows is not sufficient to recover the entire amortized cost basis at the balance sheet date. Under
these circumstances, any impairment would be recognized in earnings. As of December 31, 2013, Management has evaluated held-to-
maturity securities with unrealized losses for impairment and concluded no OTTI is required.
6. LOAN SALES AND SECURITIZATIONS
Residential Mortgage Portfolio
The following table summarizes activity relating to residential mortgage loans sold with servicing retained for the years ended
December 31, 2013, 2012, and 2011:
Year Ended December 31,
(dollar amounts in thousands) 2013 2012 2011
Residential mortgage loans sold with servicing retained $ 3,221,239 $ 3,954,762 $ 3,078,475
Pretax gains (1) 102,935 128,408 77,591
(1) Recorded in mortgage banking income.