Huntington National Bank 2014 Annual Report Download - page 189
Download and view the complete annual report
Please find page 189 of the 2014 Huntington National Bank annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179 -
180 -
181 -
182 -
183 -
184 -
185 -
186 -
187 -
188 -
189 -
190 -
191 -
192 -
193 -
194 -
195 -
196 -
197 -
198 -
199 -
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
 |
 |
183
The following table presents the balances of Huntington’s affordable housing tax credit investments and related unfunded
commitments at December 31, 2014 and 2013.
December 31, December 31,
(dollar amounts in thousands) 2014 2013
Affordable housing tax credit investments $ 576,381 $ 484,799
Less: amortization (208,098) (167,573)
N
et affordable housing tax credit investments $ 368,283 $ 317,226
Unfunded commitments $ 154,861 $ 134,604
The following table presents other information relating to Huntington’s affordable housing tax credit investments for the years
ended December 31, 2014 and 2013.
Year Ended December 31,
(dollar amounts in thousands) 2014 2013 2012
Tax credits and other tax benefits recognized $ 51,317 $ 55,819 $ 55,558
Proportional amortization method
Tax credit amortization expense included in provision for income taxes 39,021 32,789 32,337
Equity method
Tax credit investment losses included in non-interest income 434 1,176 676
There were no sales of LIHTC investments in 2014. During the years ended December 31, 2013 and 2012, Huntington sold
LIHTC investments resulting in gains of $8.7 million and $5.4 million, respectively. The gains were recorded in noninterest income
in the Consolidated Statements of Income.
Huntington recognized immaterial impairment losses for the years ended December 31, 2014, 2013 and 2012. The impairment
losses recognized related to the fair value of the tax credit investments that were less than carrying value.
OTHER INVESTMENTS
Other investments determined to be VIE’s include investments in New Market Tax Credit Investments, Historic Tax Credit
Investments, Small Business Investment Companies, Rural Business Investment Companies, certain equity method investments and
other miscellaneous investments.
20. COMMITMENTS AND CONTINGENT LIABILITIES
Commitments to extend credit
In the ordinary course of business, Huntington makes various commitments to extend credit that are not reflected in the
Consolidated Financial Statements. The contract amounts of these financial agreements at December 31, 2014, and December 31,
2013, were as follows:
At December 31,
(dollar amounts in thousands) 2014 2013
Contract amount represents credit risk
Commitments to extend credit:
Commercial $ 11,181,522 $ 10,198,327
Consumer 7,579,632 6,544,606
Commercial real estate 908,112 765,982
Standby letters of credit 497,457 439,834