Huntington National Bank 2015 Annual Report Download - page 151

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143
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, 2015 and 2014:
Less than 12 Months Over 12 Months Total
(dollar amounts in thousands )
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
December 31, 2015
Federal Agencies:
Mortgage-backed securities $ 3,692,890 $ (25,418) $ 519,872 $ (12,086) $ 4,212,762 $ (37,504)
Other agencies 425,410 (2,689) 6,647 (97) 432,057 (2,786)
Total U.S. Government backed securities 4,118,300 (28,107) 526,519 (12,183) 4,644,819 (40,290)
Municipal securities — — 6,913 (124) 6,913 (124)
Total temporarily impaired securities $ 4,118,300 $ (28,107) $ 533,432 $ (12,307) $ 4,651,732 $ (40,414)
Less than 12 Months Over 12 Months Total
(dollar amounts in thousands )
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Valu e
Unrealized
Losses
December 31, 2014
Federal Agencies:
Mortgage-backed securities $ 707,934 $ (5,550) $ 622,026 $ (16,186) $ 1,329,960 $ (21,736)
Other agencies 36,956 (198) 71,731 (952) 108,687 (1,150)
Total U.S. Government backed securities 744,890 (5,748) 693,757 (17,138) 1,438,647 (22,886)
Municipal securities 7,594 (387) — — 7,594 (387)
Total temporarily impaired securities $ 752,484 $ (6,135) $ 693,757 $ (17,138) $ 1,446,241 $ (23,273)
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, 2015 and 2014, Management 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, 2015, 2014, and 2013:
Year Ended December 31,
(dollar amounts in thousands) 2015 2014 2013
Residential mortgage loans sold with servicing retained $ 3,322,723 $ 2,330,060 $ 3,221,239
Pretax gains resulting from above loan sales (1) 83,148 57,590 102,935
(1) Recorded in mortgage banking income.
The following tables summarize the changes in MSRs recorded using either the fair value method or the amortization method
for the years ended December 31, 2015 and 2014: