Quarterly report pursuant to Section 13 or 15(d)

AVAILABLE-FOR-SALE SECURITIES (Tables)

v3.8.0.1
AVAILABLE-FOR-SALE SECURITIES (Tables)
 3 Months Ended
Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]  
Contractual maturities of investment securities
ontractual maturities of available-for-sale securities at March 31, 2018 and December 31, 2017 were:
 
March 31, 2018
 
December 31, 2017
(dollar amounts in millions)
Amortized
Cost
 
Fair Value
 
Amortized
Cost
 
Fair Value
U.S. Treasury, Federal agency, and other agency securities:
 
 
 
 
 
 
 
U.S. Treasury:
 
 
 
 
 
 
 
1 year or less
$
5

 
$
5

 
$
5

 
$
5

Total U.S. Treasury
5

 
5

 
5

 
5

Federal agencies:
 
 
 
 
 
 
 
Residential CMO:
 
 
 
 
 
 
 
After 1 year through 5 years
1

 
1

 
1

 
1

After 5 years through 10 years
47

 
45

 
90

 
89

After 10 years
7,742

 
7,485

 
6,570

 
6,394

Total Residential CMO
7,790

 
7,531

 
6,661

 
6,484

Residential MBS:
 
 
 
 
 
 
 
After 1 year through 5 years
6

 
5

 
6

 
6

After 5 years through 10 years
33

 
33

 
7

 
8

After 10 years
700

 
686

 
1,358

 
1,353

Total Residential MBS
739

 
724

 
1,371

 
1,367

Commercial MBS:
 
 
 
 
 
 
 
After 1 year through 5 years
69

 
67

 
23

 
22

After 5 years through 10 years
9

 
8

 
151

 
148

After 10 years
1,775

 
1,716

 
2,365

 
2,317

Total Commercial MBS
1,853

 
1,791

 
2,539

 
2,487

Other agencies:
 
 
 
 
 
 
 
1 year or less
1

 
1

 
2

 
2

After 1 year through 5 years
8

 
8

 
9

 
9

After 5 years through 10 years
181

 
178

 
58

 
59

Total other agencies
190

 
187

 
69

 
70

Total U.S. Treasury, Federal agency, and other agency securities
10,577

 
10,238

 
10,645

 
10,413

Municipal securities:
 
 
 
 
 
 
 
1 year or less
153

 
153

 
103

 
103

After 1 year through 5 years
1,129

 
1,121

 
1,140

 
1,134

After 5 years through 10 years
1,738

 
1,717

 
1,709

 
1,704

After 10 years
867

 
843

 
940

 
937

Total municipal securities
3,887

 
3,834

 
3,892

 
3,878

Asset-backed securities:
 
 
 
 
 
 
 
After 1 year through 5 years
80

 
79

 
80

 
80

After 5 years through 10 years
61

 
60

 
53

 
54

After 10 years
294

 
288

 
349

 
333

Total asset-backed securities
435

 
427

 
482

 
467

Corporate debt:
 
 
 
 
 
 
 
1 year or less
1

 
1

 
—

 
—

After 1 year through 5 years
67

 
67

 
73

 
74

After 5 years through 10 years
19

 
20

 
20

 
21

After 10 years
13

 
14

 
13

 
14

Total corporate debt
100

 
102

 
106

 
109

Other securities/Sovereign debt:
 
 
 
 
 
 
 
1 year or less
2

 
2

 
1

 
1

After 1 year through 5 years
4

 
4

 
1

 
1

Total other securities/Sovereign debt
6

 
6

 
2

 
2

Total available-for-sale securities
$
15,005

 
$
14,607

 
$
15,127

 
$
14,869

Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income
The following tables provide amortized cost, fair value, and gross unrealized gains and losses recognized in OCI by investment category at March 31, 2018 and December 31, 2017:
 
 
 
Unrealized
 
 
(dollar amounts in millions)
Amortized
Cost
 
Gross
Gains
 
Gross
Losses
 
Fair Value
March 31, 2018
 
 
 
 
 
 
 
U.S. Treasury
$
5

 
$
—

 
$
—

 
$
5

Federal agencies:
 
 
 
 
 
 
 
Residential CMO
7,790

 
—

 
(259
)
 
7,531

Residential MBS
739

 
2

 
(16
)
 
724

Commercial MBS
1,853

 
—

 
(63
)
 
1,791

Other agencies
190

 
—

 
(3
)
 
187

Total U.S. Treasury, Federal agency and other agency securities
10,577

 
2

 
(341
)
 
10,238

Municipal securities
3,887

 
14

 
(67
)
 
3,834

Asset-backed securities
435

 
—

 
(8
)
 
427

Corporate debt
100

 
2

 
—

 
102

Other securities/Sovereign debt
6

 
—

 
—

 
6

Total available-for-sale securities
$
15,005

 
$
18

 
$
(416
)
 
$
14,607

 
 
 
Unrealized
 
 
(dollar amounts in millions)
Amortized
Cost
 
Gross
Gains
 
Gross
Losses
 
Fair Value
December 31, 2017
 
 
 
 
 
 
 
U.S. Treasury
$
5

 
$
—

 
$
—

 
$
5

Federal agencies:
 
 
 
 
 
 
 
Residential CMO
6,661

 
1

 
(178
)
 
6,484

Residential MBS
1,371

 
1

 
(5
)
 
1,367

Commercial MBS
2,539

 
—

 
(52
)
 
2,487

Other agencies
69

 
1

 
—

 
70

Total U.S. Treasury, Federal agency and other agency securities
10,645

 
3

 
(235
)
 
10,413

Municipal securities
3,892

 
21

 
(35
)
 
3,878

Asset-backed securities
482

 
1

 
(16
)
 
467

Corporate debt
106

 
3

 
—

 
109

Other securities/Sovereign debt
2

 
—

 
—

 
2

Total available-for-sale securities
$
15,127

 
$
28

 
$
(286
)
 
$
14,869

Available for sale securities in an unrealized loss position table text block
The following tables provide detail on investment securities with unrealized losses aggregated by investment category and the length of time the individual securities have been in a continuous loss position as of March 31, 2018 and December 31, 2017.
 
Less than 12 Months
 
Over 12 Months
 
Total
(dollar amounts in millions)
Fair Value
 
Gross Unrealized
Losses
 
Fair Value
 
Gross Unrealized
Losses
 
Fair Value
 
Gross Unrealized
Losses
March 31, 2018
 
 
 
 
 
 
 
 
 
 
 
Federal agencies:
 
 
 
 
 
 
 
 
 
 
 
Residential CMO
$
3,291

 
$
(71
)
 
$
4,027

 
$
(188
)
 
$
7,318

 
$
(259
)
Residential MBS
648

 
(16
)
 
11

 
—

 
659

 
(16
)
Commercial MBS
322

 
(9
)
 
1,469

 
(54
)
 
1,791

 
(63
)
Other agencies
107

 
(1
)
 
69

 
(2
)
 
176

 
(3
)
Total Federal Agency and other agency securities
4,368

 
(97
)
 
5,576

 
(244
)
 
9,944

 
(341
)
Municipal securities
2,182

 
(45
)
 
623

 
(22
)
 
2,805

 
(67
)
Asset-backed securities
240

 
(3
)
 
144

 
(5
)
 
384

 
(8
)
Corporate debt
14

 
—

 
—

 
—

 
14

 
—

Other securities/Sovereign debt
—

 
—

 
2

 
—

 
2

 
—

Total temporarily impaired securities
$
6,804

 
$
(145
)
 
$
6,345

 
$
(271
)
 
$
13,149

 
$
(416
)
 
Less than 12 Months
 
Over 12 Months
 
Total
(dollar amounts in millions)
Fair Value
 
Gross Unrealized
Losses
 
Fair Value
 
Gross Unrealized
Losses
 
Fair Value
 
Gross Unrealized
Losses
December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
Federal agencies:
 
 
 
 
 
 
 
 
 
 
 
Residential CMO
$
1,660

 
$
(19
)
 
$
4,520

 
$
(159
)
 
$
6,180

 
$
(178
)
Residential MBS
1,078

 
(5
)
 
11

 
—

 
1,089

 
(5
)
Commercial MBS
960

 
(15
)
 
1,527

 
(37
)
 
2,487

 
(52
)
Other agencies
39

 
—

 
—

 
—

 
39

 
—

Total Federal Agency and other agency securities
3,737

 
(39
)
 
6,058

 
(196
)
 
9,795

 
(235
)
Municipal securities
1,681

 
(21
)
 
497

 
(14
)
 
2,178

 
(35
)
Asset-backed securities
127

 
(1
)
 
173

 
(15
)
 
300

 
(16
)
Total temporarily impaired securities
$
5,545

 
$
(61
)
 
$
6,728

 
$
(225
)
 
$
12,273

 
$
(286
)
Realized securities gains and losses
The following table is a summary of realized securities gains and losses for the three-month periods ended March 31, 2018 and 2017, respectively.
 
Three Months Ended
March 31,
(dollar amounts in millions)
2018
 
2017
Gross gains on sales of securities
$
5

 
$
1

Gross (losses) on sales of securities
(5
)
 
(1
)
Net gain on sales of securities
$
—

 
$
—

Trust Preferred Securities Data
.
Schedule of other than temporary impairment
. During the 2018 first quarter, Huntington sold the remaining trust preferred CDO securities resulting in a gain of $3 million. As of March 31, 2018, the Huntington has evaluated available-for-sale securities with gross unrealized losses for impairment and concluded no OTTI is required.