Huntington National Bank 2015 Annual Report Download - page 75

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Table 26 - Federal Reserve Bank and FHLB Borrowing Capacity
(dollar amounts in billions) At December 31,
2015 2014
Loans and securities pledged:
Federal Reserve Bank $ 8.3 $ 9.7
FHLB 9.2 8.3
Total loans and securities pledged $ 17.5 $ 18.0
Total unused borrowing capacity at Federal Reserve Bank and FHLB $ 13.6 $ 12.5
(For further information related to debt issuances please see Note 10 of the Notes to Consolidated Financial Statements.)
At December 31, 2015, total wholesale funding was $10.9 billion, an increase from $10.0 billion at December 31, 2014. The
increase from prior year-end primarily relates to an increase in long-term debt, partially offset by a decrease in FHLB advances and
short-term borrowings.
Liquidity Coverage Ratio
At December 31, 2015, we believe the Bank had sufficient liquidity to be in compliance with the LCR requirements and to meet
its cash flow obligations for the foreseeable future.
Table 27 - Maturity Schedule of Commercial Loans
(dollar amounts in millions) At December 31, 2015
One Year
or Less
One to
Five Years
After
Five Years Total
Percent
of
total
Commercial and industrial $ 4,932 $ 12,802 $ 2,826 $ 20,560 80%
Commercial real estate—construction 76 575 380 1,031 4
Commercial real estate—commercial 3,148 927 162 4,237 16
Total $ 8,156 $ 14,304 $ 3,368 $ 25,828 100%
Variable-interest rates $ 6,925 $ 9,783 $ 2,166 $ 18,874 73%
Fixed-interest rates 1,231 4,521 1,202 6,954 27
Total $ 8,156 $ 14,304 $ 3,368 $ 25,828 100%
Percent of total 32% 55% 13% 100%
At December 31, 2015, the carrying value of investment securities pledged to secure public and trust deposits, trading account
liabilities, U.S. Treasury demand notes, and security repurchase agreements totaled $2.6 billion. There were no securities of a single
issuer, which are not governmental that exceeded 10% of shareholders’ equity at December 31, 2015.
Parent Company Liquidity
The parent company’s funding requirements consist primarily of dividends to shareholders, debt service, income taxes, operating
expenses, funding of nonbank subsidiaries, repurchases of our stock, and acquisitions. The parent company obtains funding to meet
obligations from dividends and interest received from the Bank, interest and dividends received from direct subsidiaries, net taxes
collected from subsidiaries included in the federal consolidated tax return, fees for services provided to subsidiaries, and the issuance
of debt securities.
At December 31, 2015 and December 31, 2014, the parent company had $0.9 billion and $0.7 billion, respectively, in cash and
cash equivalents.
On January 20, 2016, the board of directors declared a quarterly common stock cash dividend of $0.07 per common share. The
dividend is payable on April 1, 2016, to shareholders of record on March 18, 2016. Based on the current quarterly dividend of $0.07
per common share, cash demands required for common stock dividends are estimated to be approximately $56 million per quarter. On
January 20, 2016, the board of directors declared a quarterly Series A and Series B Preferred Stock dividend payable on April 15, 2016
to shareholders of record on April 1, 2016. Based on the current dividend, cash demands required for Series A Preferred Stock are
estimated to be approximately $8 million per quarter. Cash demands required for Series B Preferred Stock are expected to be less than
$1 million per quarter.