Huntington Bancshares Incorporated Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Benefit Plans (Tables)

Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Assumptions Used [Table Text Block]

The following table shows the weighted-average assumptions used to determine the benefit obligation at December 31, 2012 and 2011, and the net periodic benefit cost for the years then ended

		Pension				Post-Retirement
		Benefits				Benefits
		2012		2011		2012		2011
Weighted-average assumptions used to determine benefit obligations
	Discount rate	3.83	%	4.57	%	3.28	%	4.34	%
	Rate of compensation increase	4.50		4.50		N/A		N/A
Weighted-average assumptions used to determine net periodic benefit cost
	Discount rate	4.57		5.35		4.34		5.00
	Expected return on plan assets	8.00		8.00		N/A		N/A
	Rate of compensation increase	4.50		4.50		N/A		N/A
N/A - Not Applicable

Schedule of Accumulated and Projected Benefit Obligations [Table Text Block]

The following table reconciles the beginning and ending balances of the benefit obligation of the Plan and the post-retirement benefit plan with the amounts recognized in the consolidated balance sheets at December 31:

			Pension				Post-Retirement
			Benefits				Benefits
(dollar amounts in thousands)			2012		2011		2012		2011
Projected benefit obligation at beginning of measurement year		$	656,339	$	577,770	$	32,851	$	34,241
Changes due to:
	Service cost		24,869		21,650		---		---
	Interest cost		29,215		30,073		1,350		1,618
	Benefits paid		(13,719)		(12,285)		(3,850)		(4,895)
	Settlements		(10,444)		(10,408)		---		---
	Medicare subsidies		---		---		740		670
	Actuarial assumptions and gains and losses		97,518		49,539		(3,304)		1,217
Total changes			127,439		78,569		(5,064)		(1,390)
Projected benefit obligation at end of measurement year		$	783,778	$	656,339	$	27,787	$	32,851

Schedule of Changes in Fair Value of Plan Assets [Table Text Block]

The following table reconciles the beginning and ending balances of the fair value of Plan assets at the December 31, 2012 and 2011 measurement dates:

			Pension
			Benefits
(dollar amounts in thousands)			2012		2011
Fair value of plan assets at beginning of measurement year		$	538,970	$	478,479

Changes due to:
	Actual return on plan assets		43,810		(6,593)
	Employer contributions		75,000		90,000
	Settlements		(10,444)		(10,631)
	Benefits paid		(13,719)		(12,285)
Total changes			94,647		60,491
Fair value of plan assets at end of measurement year		$	633,617	$	538,970

Schedule of Net Benefit Costs [Table Text Block]

The following table shows the components of net periodic benefit costs recognized in the three years ended December 31, 2012:

		Pension Benefits						Post-Retirement Benefits
(dollar amounts in thousands)		2012		2011		2010		2012		2011		2010

Service cost	$	24,869	$	21,650	$	20,205	$	---	$	---	$	---
Interest cost		29,215		30,073		28,869		1,350		1,618		1,731
Expected return on plan assets		(45,730)		(43,290)		(42,113)		---		---		---
Amortization of transition asset		(4)		(5)		5		---		---		---
Amortization of prior service cost		(5,767)		(5,767)		(5,766)		(1,353)		(1,354)		(1,353)
Amortization of loss		26,956		23,494		14,989		(332)		(423)		(699)
Settlements		5,405		5,483		9,694		---		---		---
Benefit costs	$	34,944	$	31,638	$	25,883	$	(335)	$	(159)	$	(321)

Schedule of Allocation of Plan Assets [Table Text Block]

At December 31, 2012 and 2011, The Huntington National Bank, as trustee, held all Plan assets. The Plan assets consisted of investments in a variety of corporate and government fixed income investments, Huntington mutual funds and Huntington common stock as follows:

		Fair Value
(dollar amounts in thousands)			2012				2011 (1)
Cash		$	22	---	%	$	25	---	%
Cash equivalents:
	Huntington funds - money market		6,012	1			39,943	7
Fixed income:
	Huntington funds - fixed income funds		84,688	13			174,615	32
	Corporate obligations		149,241	24			---	---
	U.S. Government Obligations		36,595	6			---	---
	U.S. Government Agencies		7,511	1			---	---
Equities:
	Huntington funds		312,479	49			283,963	53
	Huntington common stock		37,069	6			40,424	8
	Other common stock		---	---			---	---
Fair value of plan assets		$	633,617	100	%	$	538,970	100	%

⁽¹⁾A $40 million contribution to the Plan on December 28, 2011, had not yet been invested and was in Huntington Funds-money market as of December 31, 2011.

Schedule Of Huntington Stock Statistics For Benefit Plan [Table Text Block]

The following table shows the number of shares and dividends received on shares of Huntington stock held by the Plan:

	December 31,
(dollar amounts in thousands, except share amounts)	2012			2011
Shares in Huntington common stock⁽¹⁾		5,764,986		7,309,986
Dividends received on shares of Huntington stock	$	1,085	$	409

⁽¹⁾The Plan has acquired and held Huntington common stock in compliance at all times with Section 407 of the Employee Retirement Income Security Act of 1978.

Schedule of Expected Benefit Payments [Table Text Block]

At December 31, 2012, the following table shows when benefit payments, which include expected future service, as appropriate, were expected to be paid:

					Post-
			Pension		Retirement
(dollar amounts in thousands)			Benefits		Benefits
	2013	$	42,743	$	3,837
	2014		42,537		3,585
	2015		42,960		3,369
	2016		43,329		3,156
	2017		43,903		2,994
	2018 through 2022		240,842		12,380

Schedule of Amounts Recognized in Balance Sheet [Table Text Block]

The following table presents the amounts recognized in the Consolidated Balance Sheets at December 31, 2012 and 2011 for all of Huntington defined benefit plans

(dollar amounts in thousands)		2012			2011
Accrued expenses and other liabilities	$	213,335		$	177,092

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

The following tables present the amounts recognized in OCI as of December 31, 2012, 2011, and 2010, and the changes in accumulated OCI for the years ended December 31, 2012, 2011, and 2010:

(dollar amounts in thousands)		2012		2011		2010
Net actuarial loss	$	(262,187)	$	(215,628)	$	(166,183)
Prior service cost		25,788		30,261		34,688
Transition liability		---		3		6
Defined benefit pension plans	$	(236,399)	$	(185,364)	$	(131,489)

			2012
				Tax (expense)
(dollar amounts in thousands)			Pretax			Benefit		After-tax
Balance, beginning of year		$	(285,177)		$	99,813	$	(185,364)
Net actuarial (loss) gain:
	Amounts arising during the year		(105,527)			36,934		(68,593)
	Amortization included in net periodic benefit costs		33,880			(11,858)		22,022
Prior service cost:
	Amounts arising during the year		---			---		---
	Amortization included in net periodic benefit costs		(6,865)			2,403		(4,462)
Transition obligation:
	Amortization included in net periodic benefit costs		(2)			---		(2)
Balance, end of year		$	(363,691)		$	127,292	$	(236,399)

			2011
				Tax (expense)
(dollar amounts in thousands)			Pretax			Benefit		After-tax
Balance, beginning of year		$	(202,292)		$	70,803	$	(131,489)
Net actuarial (loss) gain:
	Amounts arising during the year		(104,146)			36,451		(67,695)
	Amortization included in net periodic benefit costs		28,077			(9,827)		18,250
Prior service cost:
	Amounts arising during the year		---			---		---
	Amortization included in net periodic benefit costs		(6,811)			2,384		(4,427)
Transition obligation:
	Amortization included in net periodic benefit costs		(5)			2		(3)
Balance, end of year		$	(285,177)		$	99,813	$	(185,364)

			2010
				Tax (expense)
(dollar amounts in thousands)			Pretax			Benefit		After-tax
Balance, beginning of year		$	(173,029)		$	60,561	$	(112,468)
Net actuarial (loss) gain:
	Amounts arising during the year		(45,804)			16,031		(29,773)
	Amortization included in net periodic benefit costs		23,313			(8,159)		15,154
Prior service cost:
	Amortization included in net periodic benefit costs		(6,777)			2,372		(4,405)
Transition obligation:
	Amortization included in net periodic benefit costs		5			(2)		3
Balance, end of year		$	(202,292)		$	70,803	$	(131,489)

Schedule of Costs of Retirement Plans [Table Text Block]

The following table shows the costs of providing the defined contribution plan as of December 31:

	December 31,
(dollar amounts in thousands)	2012			2011	2010
Defined contribution plan	$	16,926	$	14,980	$	8,787

Schedule Of Huntington Stock Statistics For Defined Contribution Plan [Table Text Block]

The following table shows the number of shares, market value, and dividends received on shares of Huntington stock held by the defined contribution plan as of December 31:

	December 31,
(dollar amounts in thousands, except share amounts)	2012			2011
Shares in Huntington common stock		14,892,094		15,051,291
Market value of Huntington common stock	$	95,160	$	82,632
Dividends received on shares of Huntington stock		2,414		1,055