Huntington National Bank 2015 Annual Report Download - page 72
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64
After 1 year through 5 years 587,664 587,345 2.81
After 5 years through 10 years 1,053,502 1,048,550 3.01
After 10 years 509,133 539,678 4.48
Total municipal securities 2,431,943 2,456,396 3.24
Asset-backed securities:
1 year or less ———
After 1 year through 5 years 110,115 109,300 2.37
After 5 years through 10 years 128,342 128,208 2.23
After 10 years 662,602 623,905 2.36
Total asset-backed securities 901,059 861,413 2.34
Corporate debt:
1 year or less 300 302 3.38
After 1 year through 5 years 356,513 360,653 3.19
After 5 years through 10 years 107,394 105,522 3.06
After 10 years ———
Total corporate debt 464,207 466,477 3.16
Other:
1 year or less ———
After 1 year through 5 years 3,950 3,898 2.60
After 5 years through 10 years ———
After 10 years ———
Non-marketable equity securities (2) 332,786 332,786 5.06
Mutual funds 10,604 10,604 N/A
Marketable equity securities (3) 523 794 N/A
Total other 347,863 348,082 4.87
Total available-for-sale and other securities $ 8,770,923 $ 8,775,441 2.77%
(1) Weighted average yields were calculated using amortized cost on a fully-taxable equivalent basis, assuming a 35% tax rate.
(2) Consists of FHLB and FRB restricted stock holding carried at par. For 2016, the Federal Reserve reduced the dividend rate on
FRB stock from 6% to the current 10-year Treasury rate for banks with more than $10 billion in assets.
(3) Consists of certain mutual fund and equity security holdings.
Investment securities portfolio
The expected weighted average maturities of our AFS and HTM portfolios are significantly shorter than their contractual
maturities as reflected in Note 4 and Note 5 of the Notes to Consolidated Financial Statements. Particularly regarding the MBS and
ABS, prepayments of principal and interest that historically occur in advance of scheduled maturities will shorten the expected life of
these portfolios. The expected weighted average maturities, which take into account expected prepayments of principal and interest
under existing interest rate conditions, are shown in the following table: