Huntington National Bank 2014 Annual Report Download - page 185
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179
The following tables present the gross amounts of these assets and liabilities with any offsets to arrive at the net amounts
recognized in the Consolidated Balance Sheets at December 31, 2014 and December 31, 2013:
Offsetting of Financial Assets and Derivative Assets
Gross amounts not offset in
the consolidated balance
sheets
(dollar amounts in thousands)
Gross amounts
of recognized
assets
Gross amounts
offset in the
consolidated
balance sheets
N
et amounts o
f
assets
presented in
the
consolidated
balance sheets
Financial
instruments
Cash
collateral
received
N
et amoun
t
Offsetting of Financial Assets and Derivative Assets
December 31, 2014 Derivatives $ 480,803 $ (128,161) $ 352,642 $ (27,744) $ (1,095) $ 323,803
December 31, 2013 Derivatives 300,903 (111,458) 189,445 (35,205) (360) 153,880
Offsetting of Financial Liabilities and Derivative Liabilities
Gross amounts not offset in
the consolidated balance
sheets
(dollar amounts in thousands)
Gross amounts
of recognized
liabilities
Gross amounts
offset in the
consolidated
balance sheets
N
et amounts o
f
assets
presented in
the
consolidated
balance sheets
Financial
instruments
Cash
collateral
delivered
N
et amoun
t
Offsetting of Financial Liabilities and Derivative Liabilities
December 31, 2014 Derivatives $ 363,192 $ (78,937)$ 284,255 $ (78,654)$ (111)$ 205,490
December 31, 2013 Derivatives 196,397 (76,539) 119,858 (86,204) 290 33,944
Derivatives used in mortgage banking activities
Huntington also uses certain derivative financial instruments to offset changes in value of its residential MSRs. These derivatives
consist primarily of forward interest rate agreements and forward commitments to deliver mortgage-backed securities. The derivative
instruments used are not designated as hedges. Accordingly, such derivatives are recorded at fair value with changes in fair value
reflected in mortgage banking income. The following table summarizes the derivative assets and liabilities used in mortgage banking
activities:
At December 31,
(dollar amounts in thousands) 2014 2013
Derivative assets:
Interest rate lock agreements $ 4,064 $ 3,066
Forward trades and options 35 3,997
Total derivative assets 4,099 7,063
Derivative liabilities:
Interest rate lock agreements (259) (231)
Forward trades and options (3,760) (40)
Total derivative liabilities (4,019) (271)
N
et derivative asset (liability) $ 80 $ 6,792