Huntington National Bank 2015 Annual Report Download - page 177
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169
Level 3 Fair Value Measurements
Year ended December 31, 2015
Available-for-sale securities
(dollar amounts in thousands) MSRs
Derivative
instruments
Municipal
securities
Private-
label
CMO
Asset-
backed
securities
Automobile
loans
Opening balance $ 22,786 $ 3,360 $ 1,417,593 $ 30,464 $ 82,738 $ 10,590
Transfers into Level 3 —— —— — —
Transfers out of Level 3 (1) —(2,793)————
Total gains/losses for the period:
Included in earnings (5,201) 5,489 149 47 (2,400) (497)
Included in OCI ——
(3,652) 1,832 24,802 —
Purchases/originations — — 1,002,153 — — —
Sales ——
(9,656)(30,077)— —
Repayments — — — — — (8,345)
Issues —— —— — —
Settlements ——
(311,036)(2,266)(4,803)—
Closing balance $ 17,585 $ 6,056 $ 2,095,551 $ — $ 100,337 $ 1,748
Change in unrealized gains or losses for the period
included in earnings (or changes in net assets) for
assets held at end of the reporting date $(5,201) $ 5,489 $ — $ — $ (2,440) $ (497)
(1) Transfers out of Level 3 represent the settlement value of the derivative instruments (i.e. interest rate lock agreements) that is
transferred to loans held for sale, which is classified as Level 2.
Level 3 Fair Value Measurements
Year ended December 31, 2014
Available-for-sale securities
(dollar amounts in thousands) MSRs
Derivative
instruments
Municipal
securities
Private-
label
CMO
Asset-
backed
securities
Automobile
loans
Opening balance $ 34,236 $ 2,390 $ 654,537 $ 32,140 $ 107,419 $ 52,286
Transfers into Level 3 —— —— — —
Transfers out of Level 3 —— —— — —
Total gains/losses for the period:
Included in earnings (11,450) 3,047 — 36 226 (918)
Included in OCI — — 14,776 452 21,839 —
Purchases/originations — — 1,038,348 — — —
Sales —— ——
(22,870)—
Repayments — — — — — (40,778)
Issues —— —— — —
Settlements —(2,077)(290,068)(2,164)(23,876)—
Closing balance $ 22,786 $ 3,360 $ 1,417,593 $ 30,464 $ 82,738 $ 10,590
Change in unrealized gains or losses for the period
included in earnings (or changes in net assets) for
assets held at end of the reporting date $(11,450) $ 3,047 $ 14,776 $ 452 $ 21,137 $ (1,624)