Annual report pursuant to Section 13 and 15(d)

LONG-TERM DEBT (Tables)

v3.3.1.900
LONG-TERM DEBT (Tables)
12 Months Ended
Dec. 31, 2015
Debt Instruments [Abstract]  
Schedule of Long-Term Debt
Huntington’s long-term debt consisted of the following:
 
 
At December 31,
(dollar amounts in thousands)
2015
 
2014
The Parent Company:
 
 
 
Senior Notes:
 
 
 
2.64% Huntington Bancshares Incorporated senior note due 2018
$
400,544

 
$
398,924

Subordinated Notes:
 
 
 
Fixed 7.00% subordinated notes due 2020
328,185

 
330,105

Huntington Capital I Trust Preferred 1.03% junior subordinated debentures due 2027 (1)
111,816

 
111,816

Sky Financial Capital Trust IV 1.73% junior subordinated debentures due 2036 (3)
74,320

 
74,320

Sky Financial Capital Trust III 2.01% junior subordinated debentures due 2036 (3)
72,165

 
72,165

Huntington Capital II Trust Preferred 1.14% junior subordinated debentures due 2028 (2)
54,593

 
54,593

Camco Statutory Trust I 2.95% due 2037 (4)
4,212

 
4,181

Total notes issued by the parent
1,045,835

 
1,046,104

The Bank:
 
 
 
Senior Notes:
 
 
 
2.24% Huntington National Bank senior note due 2018
845,016

 

2.10% Huntington National Bank senior note due 2018
750,035

 

1.75% Huntington National Bank senior note due 2018
502,822

 

2.23% Huntington National Bank senior note due 2017
502,549

 
499,759

2.43% Huntington National Bank senior note due 2020
500,646

 

2.97% Huntington National Bank senior note due 2020
500,489

 

1.43% Huntington National Bank senior note due 2019
500,292

 
499,760

1.31% Huntington National Bank senior note due 2016
498,925

 
497,477

1.40% Huntington National Bank senior note due 2016
349,793

 
349,499

0.74% Huntington National Bank senior note due 2017 (5)
250,000

 
250,000

5.04% Huntington National Bank medium-term notes due 2018
37,535

 
38,541

Subordinated Notes:
 
 
 
6.67% subordinated notes due 2018
136,237

 
140,115

5.59% subordinated notes due 2016
103,357

 
105,731

5.45% subordinated notes due 2019
83,833

 
85,783

Total notes issued by the bank
5,561,529

 
2,466,665

FHLB Advances:
 
 
 
3.46% weighted average rate, varying maturities greater than one year
7,802

 
758,052

Other:
 
 
 
Huntington Technology Finance nonrecourse debt, 4.21% effective interest rate, varying maturities
301,577

 

Huntington Technology Finance ABS Trust 2014 1.35% due 2020
123,577

 

Huntington Technology Finance ABS Trust 2012 1.79% due 2017
27,153

 

Other
141

 
65,141

Total other
452,448

 
65,141

 
 
 
 
Total long-term debt
$
7,067,614

 
$
4,335,962

 
(1)
Variable effective rate at December 31, 2015, based on three-month LIBOR +0.70%.
(2)
Variable effective rate at December 31, 2015, based on three-month LIBOR +0.625%.
(3)
Variable effective rate at December 31, 2015, based on three-month LIBOR +1.40%.
(4)
Variable effective rate at December 31, 2015, based on three-month LIBOR +1.33%.
(5)
Variable effective rate at December 31, 2015, based on three-month LIBOR +0.425%.
The trust securities are the obligations of the trusts, and as such, are not consolidated within Huntington’s Consolidated Financial Statements. A list of trust-preferred securities outstanding at December 31, 2015 follows:

(dollar amounts in thousands)
Rate
 
Principal amount of
subordinated note/
debenture issued to trust (1)
 
Investment in
unconsolidated
subsidiary
Huntington Capital I
1.03
%
(2)
$
111,816

 
$
6,186

Huntington Capital II
1.14

(3)
54,593

 
3,093

Sky Financial Capital Trust III
2.01

(4)
72,165

 
2,165

Sky Financial Capital Trust IV
1.73

(4)
74,320

 
2,320

Camco Financial Trust
2.95

(5)
4,212

 
155

Total
 
 
$
317,106

 
$
13,919


(1)
Represents the principal amount of debentures issued to each trust, including unamortized original issue discount.
(2)
Variable effective rate at December 31, 2015, based on three-month LIBOR + 0.70.
(3)
Variable effective rate at December 31, 2015, based on three-month LIBOR + 62.5.
(4)
Variable effective rate at December 31, 2015, based on three-month LIBOR + 1.40.
(5)
Variable effective rate (including impact of purchase accounting accretion) at December 31, 2015, based on three month LIBOR + 1.33.
Schedule of Maturities of Long-term Debt
Long-term debt maturities for the next five years and thereafter are as follows:
 
dollar amounts in thousands
2016
 
2017
 
2018
 
2019
 
2020
 
Thereafter
 
Total
The Parent Company:
 
 
 
 
 
 
 
 
 
 
 
 
 
Senior notes
$

 
$

 
$
400,000

 
$

 
$

 
$

 
$
400,000

Subordinated notes

 

 

 

 
300,000

 
318,049

 
618,049

The Bank:
 
 
 
 
 
 
 
 
 
 
 
 
 
Senior notes
850,000

 
750,000

 
2,135,000

 
500,000

 
1,000,000

 

 
5,235,000

Subordinated notes
103,009

 

 
125,539

 
75,716

 

 

 
304,264

FHLB Advances

 
100

 
1,163

 
348

 
2,458

 
3,921

 
7,990

Other
144,095

 
96,715

 
110,116

 
43,340

 
51,537

 
10,595

 
456,398

Total
$
1,097,104

 
$
846,815

 
$
2,771,818

 
$
619,404

 
$
1,353,995

 
$
332,565

 
$
7,021,701