Carrying amount and classification of the trusts assets and liabilities |
The following tables present the carrying amount and classification of the consolidated trusts' assets and liabilities that were included in the Consolidated Balance Sheets at December 31, 2012 and 2011:
|
|
|
|
|
|
2009 |
|
|
2006 |
|
|
Other |
|
|
|
|
|
|
|
|
|
Automobile |
|
|
Automobile |
|
|
Consolidated |
|
|
|
|
|
|
|
|
|
Trust |
|
|
Trust |
|
|
Trusts |
|
|
Total |
(dollar amounts in thousands) |
December 31, 2012 |
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash |
|
|
|
$ |
12,577 |
|
$ |
91,113 |
|
$ |
--- |
|
$ |
103,690 |
|
Loans and leases |
|
|
|
|
142,762 |
|
|
356,162 |
|
|
--- |
|
|
498,924 |
|
Allowance for loan and lease losses |
|
|
|
|
--- |
|
|
(2,671) |
|
|
--- |
|
|
(2,671) |
|
Net loans and leases |
|
|
|
|
142,762 |
|
|
353,491 |
|
|
--- |
|
|
496,253 |
|
Accrued income and other assets |
|
|
|
|
617 |
|
|
1,353 |
|
|
288 |
|
|
2,258 |
Total assets |
|
|
|
$ |
155,956 |
|
$ |
445,957 |
|
$ |
288 |
|
$ |
602,201 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other long-term debt |
|
|
|
$ |
--- |
|
$ |
2,086 |
|
$ |
--- |
|
$ |
2,086 |
|
Accrued interest and other liabilities |
|
|
|
|
--- |
|
|
1 |
|
|
288 |
|
|
289 |
Total liabilities |
|
|
|
$ |
--- |
|
$ |
2,087 |
|
$ |
288 |
|
$ |
2,375 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2008 |
|
|
2009 |
|
|
2006 |
|
|
Other |
|
|
|
|
|
|
Automobile |
|
|
Automobile |
|
|
Automobile |
|
|
Consolidated |
|
|
|
|
|
|
Trust |
|
|
Trust |
|
|
Trust |
|
|
Trusts |
|
|
Total |
(dollar amounts in thousands) |
December 31, 2011 |
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash |
$ |
12,722 |
|
$ |
18,212 |
|
$ |
52,325 |
|
$ |
--- |
|
$ |
83,259 |
|
Loans and leases |
|
131,563 |
|
|
296,250 |
|
|
704,345 |
|
|
--- |
|
|
1,132,158 |
|
Allowance for loan and lease losses |
|
(1,118) |
|
|
--- |
|
|
(5,987) |
|
|
--- |
|
|
(7,105) |
|
Net loans and leases |
|
130,445 |
|
|
296,250 |
|
|
698,358 |
|
|
--- |
|
|
1,125,053 |
|
Accrued income and other assets |
|
610 |
|
|
1,692 |
|
|
2,959 |
|
|
1,117 |
|
|
6,378 |
Total assets |
$ |
143,777 |
|
$ |
316,154 |
|
$ |
753,642 |
|
$ |
1,117 |
|
$ |
1,214,690 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other long-term debt |
$ |
18,230 |
|
$ |
123,039 |
|
$ |
333,644 |
|
$ |
--- |
|
$ |
474,913 |
|
Accrued interest and other liabilities |
|
40 |
|
|
298 |
|
|
88 |
|
|
419 |
|
|
845 |
Total liabilities |
$ |
18,270 |
|
$ |
123,337 |
|
$ |
333,732 |
|
$ |
419 |
|
$ |
475,758 |
Unconsolidated VIEs
The following tables provide a summary of assets and liabilities included in Huntington's Consolidated Financial Statements, as well as the maximum exposure to losses associated with interests related to unconsolidated VIEs for which Huntington holds an interest, but is not the primary beneficiary to the VIE at December 31, 2012 and 2011.
|
|
December 31, 2012 |
(dollar amounts in thousands) |
|
Total Assets |
|
Total Liabilities |
|
Maximum Exposure to Loss |
|
|
|
|
|
|
|
2012-1 Automobile Trust |
$ |
12,649 |
$ |
--- |
$ |
12,649 |
2012-2 Automobile Trust |
|
13,616 |
|
--- |
|
13,616 |
2011 Automobile Trust |
|
7,076 |
|
--- |
|
7,076 |
Tower Hill Securities, Inc. |
|
87,075 |
|
65,000 |
|
87,075 |
Trust Preferred Securities |
|
13,764 |
|
312,894 |
|
--- |
Low Income Housing Tax Credit Partnerships |
|
391,878 |
|
152,047 |
|
391,878 |
Total |
$ |
526,058 |
$ |
529,941 |
$ |
512,294 |
|
|
|
|
|
|
|
|
|
|
December 31, 2011 |
(dollar amounts in thousands) |
|
Total Assets |
|
Total Liabilities |
|
Maximum Exposure to Loss |
|
|
|
|
|
|
|
|
2011 Automobile Trust |
$ |
13,377 |
$ |
--- |
$ |
13,377 |
Tower Hill Securities, Inc. |
$ |
90,514 |
$ |
65,000 |
$ |
90,514 |
Trust Preferred Securities |
|
17,364 |
|
554,496 |
|
--- |
Low Income Housing Tax Credit Partnerships |
|
376,098 |
|
157,754 |
|
376,098 |
Total |
$ |
497,353 |
$ |
777,250 |
$ |
479,989 |
|
Summary of Outstanding Trust Preferred Securities |
A list of trust-preferred securities outstanding at December 31, 2012 follows:
|
|
|
|
Principal amount of |
Investment in |
|
|
|
|
subordinated note/ |
unconsolidated |
(dollar amounts in thousands) |
Rate
|
debenture issued to trust (1) |
subsidiary |
Huntington Capital I |
1.01 |
%(2)
|
|
$ |
111,816 |
|
|
$ |
6,186 |
|
Huntington Capital II |
0.93 |
(3)
|
|
|
54,593 |
|
|
|
3,093 |
|
Sky Financial Capital Trust III |
1.71 |
(4)
|
|
|
72,165 |
|
|
|
2,165 |
|
Sky Financial Capital Trust IV |
1.76 |
(4)
|
|
|
74,320 |
|
|
|
2,320 |
|
Total |
|
|
|
$ |
312,894 |
|
|
$ |
13,764 |
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) |
Represents the principal amount of debentures issued to each trust, including unamortized original issue discount. |
(2) |
Variable effective rate at December 31, 2012, based on three month LIBOR + 0.70. |
|
(3) |
Variable effective rate at December 31, 2012, based on three month LIBOR + 0.625. |
|
(4) |
Variable effective rate at December 31, 2012, based on three month LIBOR + 1.40. |
|
|