Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 |
Document and Entity Information [Abstract] | |
Entity Registrant Name | HUNTINGTON BANCSHARES INC/MD |
Entity Central Index Key | 49196 |
Document Type | 10-K |
Document Period End Date | 31-Dec-14 |
Amendment Flag | FALSE |
Document Fiscal Year Focus | 2014 |
Document Fiscal Period Focus | FY |
Current Fiscal Year End Date | -19 |
Entity Well-known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Public Float | $7,626,169 |
Entity Common Stock, Shares Outstanding | 810,025,677 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
Assets | ||||
Cash and due from banks | $1,220,565,000 | $1,001,132,000 | ||
Interest-bearing deposits in banks | 64,559,000 | 57,043,000 | ||
Trading account securities | 42,191,000 | 35,573,000 | ||
Loans held for sale | 416,327,000 | [1] | 326,212,000 | [1] |
Available-for-sale and other securities | 9,384,670,000 | 7,308,753,000 | ||
Held-to-maturity securities | 3,379,905,000 | 3,836,667,000 | ||
Loans and Leases Receivable, Net Reported Amount [Abstract] | ||||
Commercial and industrial | 19,033,146,000 | 17,594,276,000 | ||
Commercial real estate | 5,197,403,000 | 4,850,094,000 | ||
Automobile | 8,689,902,000 | 6,638,713,000 | ||
Home equity | 8,490,915,000 | 8,336,318,000 | ||
Residential mortgage | 5,830,609,000 | 5,321,088,000 | ||
Other consumer | 413,751,000 | 380,011,000 | ||
Loans and leases | 47,655,726,000 | 43,120,500,000 | ||
Allowance for loan and lease losses | -605,196,000 | -647,870,000 | ||
Net loans and leases | 47,050,530,000 | 42,472,630,000 | ||
Bank owned life insurance | 1,718,436,000 | 1,647,170,000 | ||
Premises and equipment | 616,407,000 | 634,657,000 | ||
Goodwill | 522,541,000 | 444,268,000 | ||
Other intangible assets | 74,671,000 | 93,193,000 | ||
Accrued income and other assets | 1,807,208,000 | 1,609,876,000 | ||
Total assets | 66,298,010,000 | 59,467,174,000 | ||
Deposits in domestic offices [Abstract] | ||||
Noninterest-bearing Deposit Liabilities, Domestic | 15,393,226,000 | 13,650,468,000 | ||
Interest-bearing Deposit Liabilities, Domestic | 35,937,873,000 | 33,540,545,000 | ||
Deposits, Foreign | 401,052,000 | 315,705,000 | ||
Deposits, Total | 51,732,151,000 | 47,506,718,000 | ||
Short-term borrowings | 2,397,101,000 | 2,352,143,000 | ||
LongTermDebt | 4,335,962,000 | 2,458,272,000 | ||
Accrued expenses and other liabilities | 1,504,626,000 | 1,059,888,000 | ||
Total liabilities | 59,969,840,000 | 53,377,021,000 | ||
Shareholders' equity | ||||
Common stock | 8,131,000 | 8,322,000 | ||
Capital surplus | 7,221,745,000 | 7,398,515,000 | ||
Less treasury shares, at cost | -13,382,000 | -9,643,000 | ||
Accumulated other comprehensive loss | -222,292,000 | -214,009,000 | ||
Retained (deficit) earnings | -1,052,324,000 | -1,479,324,000 | ||
Total shareholders' equity | 6,328,170,000 | 6,090,153,000 | ||
Total liabilities and shareholders' equity | 66,298,010,000 | 59,467,174,000 | ||
Common shares authorized (par value of $0.01) | 1,500,000,000 | 1,500,000,000 | ||
Common shares issued | 813,136,321 | 832,217,098 | ||
Common shares outstanding | 811,454,676 | 830,963,427 | ||
Treasury shares outstanding | 1,681,645 | 1,253,671 | ||
Preferred shares issued | 1,967,071 | 1,967,071 | ||
Preferred shares outstanding | 398,007 | 398,007 | ||
Series A Preferred Stock | ||||
Shareholders' equity | ||||
Preferred Stock | 362,507,000 | 362,507,000 | ||
Total shareholders' equity | 362,507,000 | 362,507,000 | ||
Series B Preferred Stock Variable | ||||
Shareholders' equity | ||||
Preferred Stock | 23,785,000 | 23,785,000 | ||
Total shareholders' equity | $23,785,000 | $23,785,000 | ||
[1] | Amounts represent loans for which Huntington has elected the fair value option. See Note 17. |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Assets | ||
Loans held for sale, fair value | $354,888 | $278,928 |
Loans and leases, fair value | 50,617 | 52,286 |
Liabilities | ||
Other long-term debt, fair value | $0 | $0 |
Shareholders' equity | ||
Preferred stock, authorized shares | 6,617,808 | 6,617,808 |
Common stock, par value | $0.01 | $0.01 |
Series A Preferred Stock | ||
Shareholders' equity | ||
Preferred Stock, par value | $0.01 | $0.01 |
Preferred Stock, liquidation value per share | $1,000 | $1,000 |
Series B Preferred Stock Fixed | ||
Shareholders' equity | ||
Preferred Stock, par value | $0.01 | $0.01 |
Preferred Stock, liquidation value per share | $1,000 | $1,000 |
Series B Preferred Stock Variable | ||
Shareholders' equity | ||
Preferred Stock, par value | $0.01 | $0.01 |
Preferred Stock, liquidation value per share | $1,000 | $1,000 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||
Share data in Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Loans and leases | |||
Loans and Leases, total | $1,674,563,000 | $1,629,939,000 | $1,675,295,000 |
Available-for-sale and other securities | |||
Taxable | 171,080,000 | 148,557,000 | 184,340,000 |
Tax-exempt | 28,965,000 | 12,678,000 | 8,999,000 |
Held-to-maturity securities - taxable | 88,724,000 | 50,214,000 | 24,088,000 |
Other | 13,130,000 | 19,249,000 | 37,541,000 |
Total interest income | 1,976,462,000 | 1,860,637,000 | 1,930,263,000 |
Interest expense | |||
Deposits | 86,453,000 | 116,241,000 | 162,167,000 |
Short-term borrowings | 2,940,000 | 700,000 | 2,048,000 |
Federal Home Loan Bank advances | 1,011,000 | 1,077,000 | 819,000 |
Subordinated notes and other long-term debt | 48,917,000 | 38,011,000 | 54,705,000 |
Total interest expense | 139,321,000 | 156,029,000 | 219,739,000 |
Net interest income | 1,837,141,000 | 1,704,608,000 | 1,710,524,000 |
Provision for credit losses | 80,989,000 | 90,045,000 | 147,388,000 |
Net interest income after provision for credit losses | 1,756,152,000 | 1,614,563,000 | 1,563,136,000 |
Service charges on deposit accounts | 273,741,000 | 271,802,000 | 262,179,000 |
Mortgage banking income | 115,972,000 | 123,007,000 | 121,897,000 |
Trust services income | 105,401,000 | 92,591,000 | 82,290,000 |
Electronic banking income | 84,887,000 | 126,855,000 | 191,092,000 |
Brokerage income | 68,277,000 | 69,624,000 | 72,684,000 |
Insurance income | 65,473,000 | 69,264,000 | 71,319,000 |
Gain (Loss) on sale of loans | 21,091,000 | 18,171,000 | 58,182,000 |
Bank owned life insurance income | 57,048,000 | 56,419,000 | 56,042,000 |
Capital markets income | 43,731,000 | 45,220,000 | 48,160,000 |
Net gains on sales of securities | 17,554,000 | 2,220,000 | 6,388,000 |
Impairment losses recognized in earnings on available-for-sale securities | 0 | -1,802,000 | -1,619,000 |
Other income | 126,004,000 | 138,825,000 | 137,707,000 |
Total noninterest income | 979,179,000 | 1,012,196,000 | 1,106,321,000 |
Personnel costs | 1,048,775,000 | 1,001,637,000 | 988,193,000 |
Outside data processing and other services | 212,586,000 | 199,547,000 | 190,255,000 |
Net occupancy | 128,076,000 | 125,344,000 | 111,160,000 |
Equipment | 119,663,000 | 106,793,000 | 102,947,000 |
Deposit and other insurance expense | 49,044,000 | 50,161,000 | 68,330,000 |
Professional services | 59,555,000 | 40,587,000 | 65,758,000 |
Marketing | 50,560,000 | 51,185,000 | 64,263,000 |
Amortization of intangibles | 39,277,000 | 41,364,000 | 46,549,000 |
Gains on early extinguishment of debt | 0 | 0 | -798,000 |
Other expense | 174,810,000 | 141,385,000 | 199,219,000 |
Total noninterest expense | 1,882,346,000 | 1,758,003,000 | 1,835,876,000 |
Income before income taxes | 852,985,000 | 868,756,000 | 833,581,000 |
Provision for income taxes | 220,593,000 | 227,474,000 | 202,291,000 |
Net income | 632,392,000 | 641,282,000 | 631,290,000 |
Dividends on preferred shares | 31,854,000 | 31,869,000 | 31,989,000 |
Net income applicable to common shares | 600,538,000 | 609,413,000 | 599,301,000 |
Average common shares - basic | 819,917 | 834,205 | 857,962 |
Average common shares - diluted | 833,081 | 843,974 | 863,402 |
Per common share: | |||
Net income - basic | $0.73 | $0.73 | $0.70 |
Net income - diluted | $0.72 | $0.72 | $0.69 |
Cash dividends declared, prior period | $0.21 | $0.19 | $0.16 |
Impairment losses on available-for-sale securities: | |||
Total OTTI losses | 0 | 1,870,000 | 1,886,000 |
Noncredit-related portion of loss recognized in other comprehensive income | $0 | $68,000 | $267,000 |
Consolidated_Statement_of_Comp
Consolidated Statement of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Statement of Income and Comprehensive Income [Abstract] | |||
Net income | $632,392 | $641,282 | $631,290 |
Non-credit-related impairment recoveries on debt securities not expected to be sol | 8,780 | 153 | 12,490 |
Net change in unrealized holding gains (losses) on debt (equity) securities available for sale | 45,783 | -77,593 | 55,305 |
Unrealized gains (losses) on cash flow hedging derivatives | 6,611 | -65,928 | 6,186 |
Change in accumulated unrealized losses for pension and other postretirement obligations | -69,457 | 80,176 | -51,035 |
Other Comprehensive Income (Loss), Net of Tax | -8,283 | -63,192 | 22,946 |
Comprehensive Income | $624,109 | $578,090 | $654,236 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Shareholders' Equity (USD $) | Total | Common Stock | Capital Surplus | Treasury Stock | Accumulated Other Comprehensive Loss | Retained Earnings (Deficit) | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series B Preferred Stock Variable | Series B Preferred Stock Variable |
In Thousands, unless otherwise specified | Retained Earnings (Deficit) | Retained Earnings (Deficit) | ||||||||
Beginning Balance at Dec. 31, 2011 | $5,778,500 | $8,441 | $7,475,149 | ($10,921) | ($150,817) | ($1,929,644) | $362,507 | $23,785 | ||
Beginning Balance, Shares at Dec. 31, 2011 | 844,105 | -1,292 | 363 | 35 | ||||||
Comprehensive Income: | ||||||||||
Net income | 631,290 | 631,290 | ||||||||
Total other comprehensive income (loss) | 22,946 | 22,946 | ||||||||
Purchase of common stock shares | 23,328 | |||||||||
Repurchase of common stock | -148,881 | -233 | -148,648 | |||||||
Cash dividends declared: | ||||||||||
Common Stock, Cash dividends declared | -136,887 | -136,887 | ||||||||
Preferred Stock, Dividend | -30,813 | -30,813 | 1,176 | 1,176 | ||||||
Recognition of the fair value of share-based compensation | 27,873 | 27,873 | ||||||||
Other share based compensation activity, dividends | -348 | |||||||||
Other share based compensation activity | -1,125 | 18 | -795 | |||||||
Other share based compensation activity, Shares | 1,848 | |||||||||
Other | -848 | -90 | -666 | -92 | ||||||
Other, Shares | 114 | |||||||||
Ending Balance at Dec. 31, 2012 | ||||||||||
Comprehensive Income: | ||||||||||
Net income | 641,282 | 641,282 | ||||||||
Total other comprehensive income (loss) | -63,192 | -63,192 | ||||||||
Purchase of common stock shares | -16,708 | |||||||||
Repurchase of common stock | -124,995 | 167 | 124,828 | |||||||
Cash dividends declared: | ||||||||||
Common Stock, Cash dividends declared | -158,194 | -158,194 | ||||||||
Preferred Stock, Dividend | -30,813 | -30,813 | -1,055 | -1,055 | ||||||
Recognition of the fair value of share-based compensation | 37,007 | 37,007 | ||||||||
Other share based compensation activity, dividends | -873 | |||||||||
Other share based compensation activity | 11,987 | 48 | 12,812 | |||||||
Other share based compensation activity, Shares | 4,820 | |||||||||
Other | -374 | -1,625 | 1,278 | -27 | ||||||
Other, Shares | 39 | |||||||||
Ending Balance at Dec. 31, 2013 | 6,090,153 | 8,322 | 7,398,515 | -9,643 | -214,009 | -1,479,324 | 362,507 | 23,785 | ||
Ending Balance, Shares at Dec. 31, 2013 | 832,217 | -1,331 | 363 | 35 | ||||||
Comprehensive Income: | ||||||||||
Net income | 632,392 | 632,392 | ||||||||
Total other comprehensive income (loss) | -8,283 | -8,283 | ||||||||
Business Acquisition Equity Interests Issued Or Issuable Number Of Shares Issued | 87 | |||||||||
Business Acquisition Equity Interest Issued Or Issuable Value Asigned | 91,664 | 8,694 | 91,577 | |||||||
Stock Issued During Period, Shares Employee Benefit Plan | 276 | |||||||||
Stock Issued During Period, Value Employee Benefit Plan | 2,597 | 3 | 2,594 | |||||||
Purchase of common stock shares | -35,700 | -35,709 | ||||||||
Repurchase of common stock | -334,429 | 357 | 334,072 | |||||||
Cash dividends declared: | ||||||||||
Common Stock, Cash dividends declared | -171,692 | -171,692 | ||||||||
Preferred Stock, Dividend | -1,041 | -30,813 | -30,813 | -1,041 | ||||||
Recognition of the fair value of share-based compensation | 43,666 | 43,666 | ||||||||
Other share based compensation activity, dividends | -1,774 | |||||||||
Other share based compensation activity | 15,513 | 68 | 17,219 | |||||||
Other share based compensation activity, Shares | 6,752 | |||||||||
Other | -1,557 | 2,246 | -3,739 | -72 | ||||||
Other, Shares | 351 | |||||||||
Ending Balance at Dec. 31, 2014 | $6,328,170 | $8,131 | $7,221,745 | ($13,382) | ($222,292) | ($1,052,324) | $362,507 | $23,785 | ||
Ending Balance, Shares at Dec. 31, 2014 | 813,136 | -1,682 | 363 | 35 |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Cash dividends declared: | |||
Common stock, Cash dividend per share | $0.21 | $0.19 | $0.16 |
Series A Preferred Stock [Member] | |||
Cash dividends declared: | |||
Preferred stock dividend per share | $85 | $85 | $85 |
Series B Preferred Stock Variable [Member] | |||
Cash dividends declared: | |||
Preferred stock dividend per share | $29.33 | $33.14 | $33.14 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Operating activities | |||
Net income | $632,392,000 | $641,282,000 | $631,290,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Goodwill, Impairment Loss | 3,000,000 | 0 | 0 |
Provision for credit losses | 80,989,000 | 90,045,000 | 147,388,000 |
Depreciation and amortization | 332,832,000 | 281,545,000 | 274,572,000 |
Share-based compensation expense | 43,666,000 | 37,007,000 | 27,873,000 |
Change in deferred income taxes | 35,174,000 | 106,022,000 | 159,938,000 |
Originations of loans held for sale | -2,419,007,000 | -2,845,275,000 | -3,814,572,000 |
Principal payments on and proceeds from loans held for sale | 2,385,596,000 | 3,017,430,000 | 3,731,465,000 |
Gain on sale of loans held for sale | -25,392,000 | -44,787,000 | -60,251,000 |
Gains on early extinguishment of debt | 0 | 0 | 798,000 |
Bargain purchase gain | 0 | 0 | -11,217,000 |
Net gain on sales of securities | -17,554,000 | -2,220,000 | -6,388,000 |
Impairment losses recognized in earnings on available-for-sale securities | 0 | 1,802,000 | 1,619,000 |
Net change in | |||
Trading account securities | -6,618,000 | 55,632,000 | -45,306,000 |
Accrued income and other assets | -438,366,000 | 10,500,000 | 458,328,000 |
Accrued expense and other liabilities | 282,074,000 | -335,738,000 | -491,811,000 |
Net cash provided by (used for) operating activities | 888,786,000 | 1,013,245,000 | 1,002,130,000 |
Investing activities | |||
Decrease (Increase) in interest bearing deposits in banks | -7,516,000 | 146,584,000 | 70,980,000 |
Net cash received in acquisitions | 691,637,000 | 0 | 40,258,000 |
Proceeds from: | |||
Maturities and calls of available-for-sale and other securities | 1,480,505,000 | 1,414,114,000 | 1,776,594,000 |
Maturities of held-to-maturity securities | 452,785,000 | 278,136,000 | 113,576,000 |
Sales of available-for-sale and other securities | 1,152,907,000 | 410,106,000 | 957,930,000 |
Purchases of available-for-sale and other securities | -4,553,857,000 | -1,416,795,000 | -2,384,824,000 |
Purchases of held-to-maturity securities | 0 | -2,081,373,000 | -941,119,000 |
Net proceeds from sales of loans | 353,811,000 | 459,006,000 | 3,092,643,000 |
Net loan and lease activity, excluding sales | -4,232,350,000 | -3,386,753,000 | -3,287,000,000 |
Proceeds from sale of operating lease assets | 17,591,000 | 10,227,000 | 30,322,000 |
Purchases of premises and equipment | -58,862,000 | -102,208,000 | -129,641,000 |
Proceeds from sales of other real estate | 38,479,000 | 40,448,000 | 56,762,000 |
Purchases of loans and leases | -345,039,000 | -16,170,000 | -484,157,000 |
PaymentsToAcquireIntangibleAssets | 946,000 | 0 | 0 |
Other, net | 6,074,000 | 4,345,000 | 4,698,000 |
Net cash provided by (used for) investing activities | -5,004,781,000 | -4,240,333,000 | -1,082,978,000 |
Financing activities | |||
Increase (decrease) in deposits | 2,923,928,000 | 1,258,038,000 | 2,262,213,000 |
Increase (decrease) in short-term borrowings | 118,698,000 | 854,558,000 | -939,979,000 |
Proceeds from Issuance of Subordinated Long-term Debt | 0 | 0 | 0 |
Maturity/redemption of subordinated notes | 0 | 0 | 0 |
Proceeds from Federal Home Loan Bank advances | 0 | 0 | 0 |
Maturity/redemption of Federal Home Loan Bank advances | 0 | 0 | 0 |
Proceeds from Issuance of Other Long-term Debt | 2,000,000,000 | 1,250,000,000 | 2,515,000,000 |
Maturity/redemption of long-term debt | -198,922,000 | -102,086,000 | -3,290,095,000 |
Dividends paid on preferred stock | -31,854,000 | -31,869,000 | -31,719,000 |
Dividends paid on common stock | -166,935,000 | -150,608,000 | -137,616,000 |
Proceeds from Issuance of Common Stock | 2,597,000 | 0 | 0 |
ProceedsFromStockOptionsExercised | 17,710,000 | 12,601,000 | 2,000,000 |
Repurchase of common stock | -334,429,000 | -124,995,000 | -148,881,000 |
Other, net | 4,635,000 | -225,000 | -3,237,000 |
Net cash provided by (used for) financing activities | 4,335,428,000 | 2,965,414,000 | 227,686,000 |
Increase (decrease) in cash and cash equivalents | 219,433,000 | -261,674,000 | 146,838,000 |
Cash and cash equivalents at beginning of period | 1,001,132,000 | 1,262,806,000 | |
Cash and cash equivalents at end of period | 1,220,565,000 | 1,001,132,000 | |
Supplemental disclosures: | |||
Interest paid | 131,488,000 | 155,832,000 | 231,897,000 |
Income taxes paid (refunded) | 139,918,000 | 109,432,000 | 6,389,000 |
Non-cash activities | |||
Loans transfered to available-for-sale securities | 0 | 600,435,000 | |
Loans transfered to portfolio from held-for-sale | 45,240,000 | 307,303,000 | 0 |
Transfer of securities to held-to-maturity from available for sale | 0 | 292,164,000 | 278,748,000 |
Loans transferred to loans held for sale | 96,643,000 | 53,360,000 | 306,261,000 |
Dividends accrued, paid in subsequent quarter | 54,143,000 | 47,898,000 | |
Trust Preferred Securities Exchange | 0 | 0 | |
Transfer of loans to OREO | $39,066,000 | $34,372,000 | $56,762,000 |
Basis_of_Presentation
Basis of Presentation | 12 Months Ended |
Dec. 31, 2014 | |
Basis of Presentation [Abstract] | |
BASIS OF PRESENTATION | Huntington Bancshares Incorporated |
Notes to Consolidated Financial Statements | |
1. SIGNIFICANT ACCOUNTING POLICIES | |
Nature of Operations — Huntington Bancshares Incorporated (Huntington or the Company) is a multi-state diversified regional bank holding company organized under Maryland law in 1966 and headquartered in Columbus, Ohio. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), Huntington is engaged in providing full-service commercial, small business, consumer banking services, mortgage banking services, automobile financing, equipment leasing, investment management, trust services, brokerage services, customized insurance programs, and other financial products and services. Huntington’s banking offices are located in Ohio, Michigan, Pennsylvania, Indiana, West Virginia, and Kentucky. Select financial services and other activities are also conducted in various other states. International banking services are available through the headquarters office in Columbus, Ohio and a limited purpose office located in the Cayman Islands and another in Hong Kong. | |
Basis of Presentation — The Consolidated Financial Statements include the accounts of Huntington and its majority-owned subsidiaries and are presented in accordance with GAAP. All intercompany transactions and balances have been eliminated in consolidation. Companies in which Huntington holds more than a 50% voting equity interest, or a controlling financial interest, or are a VIE in which Huntington has the power to direct the activities of an entity that most significantly impact the entity’s economic performance and has an obligation to absorb losses or the right to receive benefits from the VIE which could potentially be significant to the VIE are consolidated. VIEs are legal entities with insubstantial equity, whose equity investors lack the ability to make decisions about the entity’s activities, or whose equity investors do not have the right to receive the residual returns of the entity if they occur. VIEs in which Huntington does not hold the power to direct the activities of the entity that most significantly impact the entity’s economic performance or does not have an obligation to absorb losses or the right to receive benefits from the VIE which could potentially be significant to the VIE are not consolidated. For consolidated entities where Huntington holds less than a 100% interest, Huntington recognizes non-controlling interest (included in shareholders’ equity) for the equity held by others and non-controlling profit or loss (included in noninterest expense) for the portion of the entity’s earnings attributable to other’s interests. Investments in companies that are not consolidated are accounted for using the equity method when Huntington has the ability to exert significant influence. Those investments in nonmarketable securities for which Huntington does not have the ability to exert significant influence are generally accounted for using the cost method. Investments in private investment partnerships that are accounted for under the equity method or the cost method are included in accrued income and other assets and Huntington’s proportional interest in the equity investments’ earnings are included in other noninterest income. Investment interests accounted for under the cost and equity methods are periodically evaluated for impairment. | |
The preparation of financial statements in conformity with GAAP requires Management to make estimates and assumptions that significantly affect amounts reported in the Consolidated Financial Statements. Huntington utilizes processes that involve the use of significant estimates and the judgments of Management in determining the amount of its allowance for credit losses, income taxes deferred tax assets, and contingent liabilities, as well as fair value measurements of investment securities, derivatives, goodwill, pension assets and liabilities, mortgage servicing rights, and loans held for sale. As with any estimate, actual results could differ from those estimates. | |
Certain prior period amounts have been reclassified to conform to the current year’s presentation. | |
Resale and Repurchase Agreements — Securities purchased under agreements to resell and securities sold under agreements to repurchase are treated as collateralized financing transactions and are recorded at the amounts at which the securities were acquired or sold plus accrued interest. The fair value of collateral either received from or provided to a third party is continually monitored and additional collateral is obtained or requested to be returned to Huntington in accordance with the agreement. | |
Securities — Securities purchased with the intention of recognizing short-term profits or which are actively bought and sold are classified as trading account securities and reported at fair value. The unrealized gains or losses on trading account securities are recorded in other noninterest income, except for gains and losses on trading account securities used to hedge the fair value of MSRs, which are included in mortgage banking income. Debt securities purchased in which Huntington has the positive intent and ability to hold to its maturity are classified as held-to-maturity securities. Held-to-maturity securities are recorded at amortized cost. All other debt and equity securities are classified as available-for-sale and other securities. Unrealized gains or losses on available-for-sale and other securities are reported as a separate component of accumulated OCI in the Consolidated Statements of Changes in Shareholders’ Equity. Credit-related declines in the value of debt and marketable equity securities that are considered other-than-temporary are recorded in noninterest income. | |
Huntington evaluates its investment securities portfolio on a quarterly basis for indicators of OTTI. Huntington assesses whether OTTI has occurred when the fair value of a debt security is less than the amortized cost basis at the balance sheet date. Management reviews the amount of unrealized loss, the length of time the security has been in an unrealized loss position, the credit rating history, market trends of similar security classes, time remaining to maturity, and the source of both interest and principal payments to identify securities which could potentially be impaired. OTTI is considered to have occurred (1) if Huntington intends to sell the security; (2) if it is more likely than not Huntington will be required to sell the security before recovery of its amortized cost basis; or (3) the present value of expected cash flows are not sufficient to recover all contractually required principal and interest payments. For securities that Huntington does not expect to sell, or it is not more likely than not to be required to sell, the OTTI is separated into credit and noncredit components. A discounted cash flow analysis, which includes evaluating the timing of the expected cash flows, is completed for all debt securities subject to credit impairment. The measurement of the credit loss component is equal to the difference between the debt security’s cost basis and the present value of its expected future cash flows discounted at the security’s effective yield. The credit-related OTTI, represented by the expected loss in principal, is recognized in noninterest income. The remaining difference between the security’s fair value and the present value of future expected cash flows is due to factors that are not credit-related and, therefore, are recognized in OCI. Huntington believes that it will fully collect the carrying value of securities on which noncredit-related OTTI has been recognized in OCI. Noncredit-related OTTI results from other factors, including increased liquidity spreads and extension of the security. For securities which Huntington does expect to sell, or if it is more likely than not Huntington will be required to sell the security before recovery of its amortized cost basis, all OTTI is recognized in earnings. Presentation of OTTI is made in the Consolidated Statements of Income on a gross basis with a reduction for the amount of OTTI recognized in OCI. Once an OTTI is recorded, when future cash flows can be reasonably estimated, future cash flows are re-allocated between interest and principal cash flows to provide for a level-yield on the security. | |
Securities transactions are recognized on the trade date (the date the order to buy or sell is executed). The carrying value plus any related OCI balance of sold securities is used to compute realized gains and losses. Interest and dividends on securities, including amortization of premiums and accretion of discounts using the effective interest method over the period to maturity, are included in interest income. | |
Nonmarketable equity securities include stock acquired for regulatory purposes, such as Federal Home Loan Bank stock and Federal Reserve Bank stock. These securities are accounted for at cost, evaluated for impairment, and included in available-for-sale and other securities. Loans and Leases — Loans and direct financing leases for which Huntington has the intent and ability to hold for the foreseeable future, or until maturity or payoff, are classified in the Consolidated Balance Sheets as loans and leases. Except for loans which are subject to fair value requirements, loans and leases are carried at the principal amount outstanding, net of unamortized deferred loan origination fees and costs and net of unearned income. Direct financing leases are reported at the aggregate of lease payments receivable and estimated residual values, net of unearned and deferred income. Interest income is accrued as earned using the interest method based on unpaid principal balances. Huntington defers the fees it receives from the origination of loans and leases, as well as the direct costs of those activities. Huntington also acquires loans at a premium and at a discount to their contractual values. Huntington amortizes loan discounts, premiums, and net loan origination fees and costs on a level-yield basis over the estimated lives of the related loans. | |
Troubled debt restructurings are loans for which the original contractual terms have been modified to provide a concession to a borrower experiencing financial difficulties. Loan modifications are considered TDRs when the concessions provided are not available to the borrower through either normal channels or other sources. However, not all loan modifications are TDRs. Modifications resulting in troubled debt restructurings may include changes to one or more terms of the loan, including but not limited to, a change in interest rate, an extension of the amortization period, a reduction in payment amount, and partial forgiveness or deferment of principal or accrued interest. | |
Residual values on leased equipment are evaluated quarterly for impairment. Impairment of the residual values of direct financing leases determined to be other than temporary is recognized by writing the leases down to fair value with a charge to other noninterest expense. Residual value losses arise if the expected fair value at the end of the lease term is less than the residual value recorded at the lease origination, net of estimated amounts reimbursable by the lessee. Future declines in the expected residual value of the leased equipment would result in expected losses of the leased equipment. | |
For leased equipment, the residual component of a direct financing lease represents the estimated fair value of the leased equipment at the end of the lease term. Huntington uses industry data, historical experience, and independent appraisals to establish these residual value estimates. Additional information regarding product life cycle, product upgrades, as well as insight into competing products are obtained through relationships with industry contacts and are factored into residual value estimates where applicable. | |
Loans Held for Sale — Loans and loan commitments in which Huntington does not have the intent and ability to hold for the foreseeable future are classified as loans held for sale. Loans held for sale (excluding loans originated or acquired with the intent to sell, which are carried at fair value) are carried at the lower of cost or fair value less cost to sell. The fair value option is generally elected for mortgage loans held for sale to facilitate hedging of the loans. Fair value is determined based on collateral value and prevailing market prices for loans with similar characteristics. Nonmortgage loans held for sale are measured on an aggregate asset basis. | |
Allowance for Credit Losses — Huntington maintains two reserves, both of which reflect Management’s judgment regarding the appropriate level necessary to absorb credit losses inherent in our loan and lease portfolio: the ALLL and the AULC. Combined, these reserves comprise the total ACL. The determination of the ACL requires significant estimates, including the timing and amounts of expected future cash flows on impaired loans and leases, consideration of current economic conditions, and historical loss experience pertaining to pools of homogeneous loans and leases, all of which may be susceptible to change. | |
The appropriateness of the ACL is based on Management’s current judgments about the credit quality of the loan portfolio. These judgments consider on-going evaluations of the loan and lease portfolio, including such factors as the differing economic risks associated with each loan category, the financial condition of specific borrowers, the level of delinquent loans, the value of any collateral and, where applicable, the existence of any guarantees or other documented support. Further, Management evaluates the impact of changes in interest rates and overall economic conditions on the ability of borrowers to meet their financial obligations when quantifying our exposure to credit losses and assessing the appropriateness of our ACL at each reporting date. In addition to general economic conditions and the other factors described above, additional factors also considered include: the impact of increasing or decreasing residential real estate values; the diversification of CRE loans; the development of new or expanded Commercial business segments such as healthcare, ABL, and energy, and the overall condition of the manufacturing industry. Also, the ACL assessment includes the on-going assessment of credit quality metrics, and a comparison of certain ACL benchmarks to current performance. Management’s determinations regarding the appropriateness of the ACL are reviewed and approved by the Company’s Audit and Risk Oversight Committees. | |
The ALLL consists of two components: (1) the transaction reserve, which includes a loan level allocation, specific reserves related to loans considered to be impaired, and loans involved in troubled debt restructurings, and (2) the general reserve. The transaction reserve component includes both (1) an estimate of loss based on pools of commercial and consumer loans and leases with similar characteristics and (2) an estimate of loss based on an impairment review of each impaired C&I and CRE loan greater than $1.0 million. For the C&I and CRE portfolios, the estimate of loss based on pools of loans and leases with similar characteristics is made by applying a PD factor and a LGD factor to each individual loan based on a regularly updated loan grade, using a standardized loan grading system. The PD factor and an LGD factor are determined for each loan grade using statistical models based on historical performance data. The PD factor considers on-going reviews of the financial performance of the specific borrower, including cash flow, debt-service coverage ratio, earnings power, debt level, and equity position, in conjunction with an assessment of the borrower’s industry and future prospects. The LGD factor considers analysis of the type of collateral and the relative LTV ratio. These reserve factors are developed based on credit migration models that track historical movements of loans between loan ratings over time and a combination of long-term average loss experience of our own portfolio and external industry data using a 24-month emergence period. | |
In the case of more homogeneous portfolios, such as automobile loans, home equity loans, and residential mortgage loans, the determination of the transaction reserve also incorporates PD and LGD factors. The estimate of loss is based on pools of loans and leases with similar characteristics. The PD factor considers current credit scores unless the account is delinquent, in which case a higher PD factor is used. The credit score provides a basis for understanding the borrower’s past and current payment performance, and this information is used to estimate expected losses over the 12-month emergence period. The performance of first-lien loans ahead of our junior-lien loans is available to use as part of our updated score process. The LGD factor considers analysis of the type of collateral and the relative LTV ratio. Credit scores, models, analyses, and other factors used to determine both the PD and LGD factors are updated frequently to capture the recent behavioral characteristics of the subject portfolios, as well as any changes in loss mitigation or credit origination strategies, and adjustments to the reserve factors are made as required. Models utilized in the ALLL estimation process are subject to the Company’s model validation policies. | |
The general reserve consists of the economic reserve and risk-profile reserve components. The economic reserve component considers the impact of changing market and economic conditions on portfolio performance. The risk-profile component considers items unique to our structure, policies, processes, and portfolio composition, as well as qualitative measurements and assessments of the loan portfolios including, but not limited to, management quality, concentrations, portfolio composition, industry comparisons, and internal review functions. | |
The estimate for the AULC is determined using the same procedures and methodologies as used for the ALLL. The loss factors used in the AULC are the same as the loss factors used in the ALLL while also considering a historical utilization of unused commitments. The AULC is recorded in accrued expenses and other liabilities in the Consolidated Balance Sheets. | |
Nonaccrual and Past Due Loans — Loans are considered past due when the contractual amounts due with respect to principal and interest are not received within 30 days of the contractual due date. | |
Any loan in any portfolio may be placed on nonaccrual status prior to the policies described below when collection of principal or interest is in doubt. When a borrower with debt is discharged in a Chapter 7 bankruptcy and not reaffirmed by the borrower, the loan is determined to be collateral dependent and placed on nonaccrual status, unless there is a co-borrower. | |
All classes within the C&I and CRE portfolios (except for purchased credit-impaired loans) are placed on nonaccrual status at 90-days past due. First-lien home equity loans are placed on nonaccrual status at 150-days past due. Junior-lien home equity loans are placed on nonaccrual status at the earlier of 120-days past due or when the related first-lien loan has been identified as nonaccrual. Automobile and other consumer loans are generally charged-off when the loan is 120-days past due. Residential mortgage loans are placed on nonaccrual status at 150-days past due, with the exception of residential mortgages guaranteed by government agencies which continue to accrue interest at the rate guaranteed by the government agency. We are reimbursed from the government agency for reasonable expenses incurred in servicing loans. The FHA reimburses us for 66% of expenses, and the VA reimburses us at a maximum percentage of guarantee which is established for each individual loan. We have not experienced either material losses in excess of guarantee caps or significant delays or rejected claims from the related government entity. | |
For all classes within all loan portfolios, when a loan is placed on nonaccrual status, any accrued interest income is reversed with current year accruals charged to interest income, and prior year amounts charged-off as a credit loss. | |
For all classes within all loan portfolios, cash receipts received on NALs are applied against principal until the loan or lease has been collected in full, after which time any additional cash receipts are recognized as interest income. However, for secured non-reaffirmed debt in a Chapter 7 bankruptcy, payments are applied to principal and interest when the borrower has demonstrated a capacity to continue payment of the debt and collection of the debt is reasonably assured. For unsecured non-reaffirmed debt in a Chapter 7 bankruptcy where the carrying value has been fully charged-off, payments are recorded as loan recoveries. | |
Regarding all classes within the C&I and CRE portfolios, the determination of a borrower's ability to make the required principal and interest payments is based on an examination of the borrower's current financial statements, industry, management capabilities, and other qualitative measures. For all classes within the consumer loan portfolio, the determination of a borrower's ability to make the required principal and interest payments is based on multiple factors, including number of days past due and, in some instances, an evaluation of the borrower's financial condition. When, in Management's judgment, the borrower's ability to make required principal and interest payments resumes and collectability is no longer in doubt, the loan is returned to accrual status. For these loans that have been returned to accrual status, cash receipts are applied according to the contractual terms of the loan. | |
Charge-off of Uncollectible Loans — Any loan in any portfolio may be charged-off prior to the policies described below if a loss confirming event has occurred. Loss confirming events include, but are not limited to, bankruptcy (unsecured), continued delinquency, foreclosure, or receipt of an asset valuation indicating a collateral deficiency and that asset is the sole source of repayment. Additionally, discharged, collateral dependent non-reaffirmed debt in Chapter 7 bankruptcy filings will result in a charge-off to estimated collateral value, less anticipated selling costs. | |
C&I and CRE loans are either charged-off or written down to net realizable value at 90-days past due. Automobile loans and other consumer loans are charged-off at 120-days past due. First-lien and junior-lien home equity loans are charged-off to the estimated fair value of the collateral, less anticipated selling costs, at 150-days past due and 120-days past due, respectively. Residential mortgages are charged-off to the estimated fair value of the collateral at 150-days past due. | |
Impaired Loans — For all classes within the C&I and CRE portfolios, all loans with an outstanding balance of $1.0 million or greater are evaluated on a quarterly basis for impairment. Generally, consumer loans within any class are not individually evaluated on a regular basis for impairment. All TDRs, regardless of the outstanding balance amount, are also considered to be impaired. Loans acquired with evidence of deterioration in credit quality since origination for which it is probable at acquisition that all contractually required payments will not be collected are also considered to be impaired. | |
Once a loan has been identified for an assessment of impairment, the loan is considered impaired when, based on current information and events, it is probable that all amounts due according to the contractual terms of the loan agreement will not be collected. This determination requires significant judgment and use of estimates, and the eventual outcome may differ significantly from those estimates. | |
When a loan in any class has been determined to be impaired, the amount of the impairment is measured using the present value of expected future cash flows discounted at the loan’s effective interest rate or, as a practical expedient, the observable market price of the loan, or the fair value of the collateral, less anticipated selling costs, if the loan is collateral dependent. When the present value of expected future cash flows is used, the effective interest rate is the original contractual interest rate of the loan adjusted for any premium or discount. When the contractual interest rate is variable, the effective interest rate of the loan changes over time. A specific reserve is established as a component of the ALLL when a loan has been determined to be impaired. Subsequent to the initial measurement of impairment, if there is a significant change to the impaired loan's expected future cash flows, or if actual cash flows are significantly different from the cash flows previously estimated, Huntington recalculates the impairment and appropriately adjusts the specific reserve. Similarly, if Huntington measures impairment based on the observable market price of an impaired loan or the fair value of the collateral of an impaired collateral dependent loan, Huntington will adjust the specific reserve. | |
When a loan within any class is impaired, the accrual of interest income is discontinued unless the receipt of principal and interest is no longer in doubt. Interest income on TDRs is accrued when all principal and interest is expected to be collected under the post-modification terms. Cash receipts received on nonaccruing impaired loans within any class are generally applied entirely against principal until the loan has been collected in full, after which time any additional cash receipts are recognized as interest income. Cash receipts received on accruing impaired loans within any class are applied in the same manner as accruing loans that are not considered impaired. | |
Purchased Credit-Impaired Loans — Purchased loans with evidence of deterioration in credit quality since origination for which it is probable at acquisition that we will be unable to collect all contractually required payments are considered to be credit impaired. Purchased credit-impaired loans are initially recorded at fair value, which is estimated by discounting the cash flows expected to be collected at the acquisition date. Because the estimate of expected cash flows reflects an estimate of future credit losses expected to be incurred over the life of the loans, an allowance for credit losses is not recorded at the acquisition date. The excess of cash flows expected at acquisition over the estimated fair value, referred to as the accretable yield, is recognized in interest income over the remaining life of the loan, or pool of loans, on a level-yield basis. The difference between the contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the nonaccretable difference. A subsequent decrease in the estimate of cash flows expected to be received on purchased credit-impaired loans generally results in the recognition of an allowance for credit losses. Subsequent increases in cash flows result in reversal of any nonaccretable difference (or allowance for loan and lease losses to the extent any has been recorded) with a positive impact on interest income subsequently recognized. The measurement of cash flows involves assumptions and judgments for interest rates, prepayments, default rates, loss severity, and collateral values. All of these factors are inherently subjective and significant changes in the cash flow estimates over the life of the loan can result. | |
Transfers of Financial Assets and Securitizations — Transfers of financial assets in which we have surrendered control over the transferred assets are accounted for as sales. In assessing whether control has been surrendered, we consider whether the transferee would be a consolidated affiliate, the existence and extent of any continuing involvement in the transferred financial assets, and the impact of all arrangements or agreements made contemporaneously with, or in contemplation of, the transfer, even if they were not entered into at the time of transfer. Control is generally considered to have been surrendered when (i) the transferred assets have been | |
legally isolated from us or any of our consolidated affiliates, even in bankruptcy or other receivership, (ii) the transferee (or, if the transferee is an entity whose sole purpose is to engage in securitization or asset-backed financing that is constrained from pledging or exchanging the assets it receives, each third-party holder of its beneficial interests) has the right to pledge or exchange the assets (or beneficial interests) it received without any constraints that provide more than a trivial benefit to us, and (iii) neither we nor our consolidated affiliates and agents have (a) both the right and obligation under any agreement to repurchase or redeem the transferred assets before their maturity, (b) the unilateral ability to cause the holder to return specific financial assets that also provides us with a more-than-trivial benefit (other than through a cleanup call) or (c) an agreement that permits the transferee to require us to repurchase the transferred assets at a price so favorable that it is probable that it will require us to repurchase them. | |
If the sale criteria are met, the transferred financial assets are removed from our balance sheet and a gain or loss on sale is recognized. If the sale criteria are not met, the transfer is recorded as a secured borrowing in which the assets remain on our balance sheet and the proceeds from the transaction are recognized as a liability. For the majority of financial asset transfers, it is clear whether or not we have surrendered control. For other transfers, such as in connection with complex transactions or where we have continuing involvement, we generally obtain a legal opinion as to whether the transfer results in a true sale by law. | |
We have historically securitized certain automobile receivables. Gains and losses on the loans and leases sold and servicing rights associated with loan and lease sales are determined when the related loans or leases are sold to either a securitization trust or third party. For loan or lease sales with servicing retained, a servicing asset is recorded at fair value for the right to service the loans sold. | |
Derivative Financial Instruments — A variety of derivative financial instruments, principally interest rate swaps, caps, floors, and collars, are used in asset and liability management activities to protect against the risk of adverse price or interest rate movements. These instruments provide flexibility in adjusting Huntington’s sensitivity to changes in interest rates without exposure to loss of principal and higher funding requirements. | |
Huntington also uses derivatives, principally loan sale commitments, in hedging its mortgage loan interest rate lock commitments and its mortgage loans held for sale. Mortgage loan sale commitments and the related interest rate lock commitments are carried at fair value on the Consolidated Balance Sheets with changes in fair value reflected in mortgage banking income. Huntington also uses certain derivative financial instruments to offset changes in value of its MSRs. These derivatives consist primarily of forward interest rate agreements and forward mortgage contracts. The derivative instruments used are not designated as hedges. Accordingly, such derivatives are recorded at fair value with changes in fair value reflected in mortgage banking income. | |
Derivative financial instruments are recorded in the Consolidated Balance Sheets as either an asset or a liability (in accrued income and other assets or accrued expenses and other liabilities, respectively) and measured at fair value. On the date a derivative contract is entered into, we designate it as either: | |
• a qualifying hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (fair value | |
hedge); | |
• a qualifying hedge of the variability of cash flows to be received or paid related to a recognized asset liability or forecasted | |
transaction (cash flow hedge); or | |
• a trading instrument or a non-qualifying (economic) hedge. | |
Changes in the fair value of a derivative that has been designated and qualifies as a fair value hedge, along with the changes in the fair value of the hedged asset or liability that is attributable to the hedged risk, are recorded in current period earnings. Changes in the fair value of a derivative that has been designated and qualifies as a cash flow hedge, to the extent effective as a hedge, are recorded in accumulated other comprehensive income, net of income taxes, and reclassified into earnings in the period during which the hedged item affects earnings. Ineffectiveness in the hedging relationship is reflected in current period earnings. Changes in the fair value of derivatives held for trading purposes or which do not qualify for hedge accounting are reported in current period earnings. | |
For those derivatives to which hedge accounting is applied, Huntington formally documents the hedging relationship and the risk management objective and strategy for undertaking the hedge. This documentation identifies the hedging instrument, the hedged item or transaction, the nature of the risk being hedged, and, unless the hedge meets all of the criteria to assume there is no ineffectiveness, the method that will be used to assess the effectiveness of the hedging instrument and how ineffectiveness will be measured. The methods utilized to assess retrospective hedge effectiveness, as well as the frequency of testing, vary based on the type of item being hedged and the designated hedge period. For specifically designated fair value hedges of certain fixed-rate debt, Huntington utilizes the short-cut method when certain criteria are met. For other fair value hedges of fixed-rate debt, including certificates of deposit, Huntington utilizes the regression method to evaluate hedge effectiveness on a quarterly basis. For fair value hedges of portfolio loans, the regression method is used to evaluate effectiveness on a daily basis. For cash flow hedges, the regression method is applied on a quarterly basis. | |
Hedge accounting is discontinued prospectively when: | |
• the derivative is no longer effective or expected to be effective in offsetting changes in the fair value or cash flows of a hedged item (including firm commitments or forecasted transactions); | |
• the derivative expires or is sold, terminated, or exercised; | |
• it is unlikely that a forecasted transaction will occur; | |
• the hedged firm commitment no longer meets the definition of a firm commitment; or | |
• the designation of the derivative as a hedging instrument is removed. | |
When hedge accounting is discontinued because it is determined that the derivative no longer qualifies as an effective fair value or cash flow hedge, the derivative will continue to be carried on the balance sheet at fair value. | |
In the case of a discontinued fair value hedge of a recognized asset or liability, as long as the hedged item continues to exist on the balance sheet, the hedged item will no longer be adjusted for changes in fair value. The basis adjustment that had previously been recorded to the hedged item during the period from the hedge designation date to the hedge discontinuation date is recognized as an adjustment to the yield of the hedged item over the remaining life of the hedged item. | |
In the case of a discontinued cash flow hedge of a recognized asset or liability, as long as the hedged item continues to exist on the balance sheet, the effective portion of the changes in fair value of the hedging derivative will no longer be recorded to other comprehensive income. The balance applicable to the discontinued hedging relationship will be recognized in earnings over the remaining life of the hedged item as an adjustment to yield. If the discontinued hedged item was a forecasted transaction that is not expected to occur, any amounts recorded on the balance sheet related to the hedged item, including any amounts recorded in accumulated other comprehensive income, are immediately reclassified to current period earnings. | |
In the case of either a fair value hedge or a cash flow hedge, if the previously hedged item is sold or extinguished, the basis adjustment to the underlying asset or liability or any remaining unamortized other comprehensive income balance will be reclassified to current period earnings. | |
In all other situations in which hedge accounting is discontinued, the derivative will be carried at fair value on the consolidated balance sheets, with changes in its fair value recognized in current period earnings unless re-designated as a qualifying hedge. | |
Like other financial instruments, derivatives contain an element of credit risk, which is the possibility that Huntington will incur a loss because the counterparty fails to meet its contractual obligations. Notional values of interest rate swaps and other off-balance sheet financial instruments significantly exceed the credit risk associated with these instruments and represent contractual balances on which calculations of amounts to be exchanged are based. Credit exposure is limited to the sum of the aggregate fair value of positions that have become favorable to Huntington, including any accrued interest receivable due from counterparties. Potential credit losses are mitigated through careful evaluation of counterparty credit standing, selection of counterparties from a limited group of high quality institutions, collateral agreements, and other contract provisions. Huntington considers the value of collateral held and collateral provided in determining the net carrying value of derivatives. | |
Huntington offsets the fair value amounts recognized for derivative instruments and the fair value for the right to reclaim cash collateral or the obligation to return cash collateral arising from derivative instrument(s) recognized at fair value executed with the same counterparty under a master netting arrangement. | |
Repossessed Collateral — Repossessed collateral, also referred to as other real estate owned (OREO), is comprised principally of commercial and residential real estate properties obtained in partial or total satisfaction of loan obligations, and is carried at the lower of cost or fair value. Collateral obtained in satisfaction of a loan is recorded at the estimated fair value less anticipated selling costs based upon the property’s appraised value at the date of foreclosure, with any difference between the fair value of the property and the carrying value of the loan recorded as a charge-off. Subsequent declines in value are reported as adjustments to the carrying amount and are recorded in noninterest expense. Gains or losses resulting from the sale of collateral are recognized in noninterest expense at the date of sale. | |
Collateral — We pledge assets as collateral as required for various transactions including security repurchase agreements, public deposits, loan notes, derivative financial instruments, short-term borrowings and long-term borrowings. Assets that have been pledged as collateral, including those that can be sold or repledged by the secured party, continue to be reported on our Consolidated Balance Sheets. | |
We also accept collateral, primarily as part of various transactions including derivative and security resale agreements. Collateral accepted by us, including collateral that we can sell or repledge, is excluded from our Consolidated Balance Sheets. | |
The market value of collateral we have accepted or pledged is regularly monitored and additional collateral is obtained or provided as necessary to ensure appropriate collateral coverage in these transactions. Premises and Equipment — Premises and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation is computed principally by the straight-line method over the estimated useful lives of the related assets. Buildings and building improvements are depreciated over an average of 30 to 40 years and 10 to 30 years, respectively. Land improvements and furniture and fixtures are depreciated over an average of 5 to 20 years, while equipment is depreciated over a range of 3 to 10 years. Leasehold improvements are amortized over the lesser of the asset’s useful life or the lease term, including any renewal periods for which renewal is reasonably assured. Maintenance and repairs are charged to expense as incurred, while improvements that extend the useful life of an asset are capitalized and depreciated over the remaining useful life. Premises and equipment is evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. | |
Mortgage Servicing Rights — Huntington recognizes the rights to service mortgage loans as separate assets, which are included in accrued income and other assets in the Consolidated Balance Sheets when purchased, or when servicing is contractually separated from the underlying mortgage loans by sale or securitization of the loans with servicing rights retained. | |
For loan sales with servicing retained, a servicing asset is recorded at fair value for the right to service the loans sold. To determine the fair value of a MSR, Huntington uses an option adjusted spread cash flow analysis incorporating market implied forward interest rates to estimate the future direction of mortgage and market interest rates. The forward rates utilized are derived from the current yield curve for U.S. dollar interest rate swaps and are consistent with pricing of capital markets instruments. The current and projected mortgage interest rate influences the prepayment rate and, therefore, the timing and magnitude of the cash flows associated with the MSR. Servicing revenues on mortgage loans are included in mortgage banking income. | |
At the time of initial capitalization, MSRs may be grouped into servicing classes based on the availability of market inputs used in determining fair value and the method used for managing the risks of the servicing assets. MSR assets are recorded using the fair value method or the amortization method. The election of the fair value or amortization method is made at the time each servicing class is established. All newly created MSRs since 2009 were recorded using the amortization method. Any change in the fair value of MSRs carried under the fair value method, as well as amortization and impairment of MSRs under the amortization method, during the period is recorded in mortgage banking income, which is reflected in the Consolidated Statements of Income. Huntington hedges the value of certain MSRs using derivative instruments and trading securities. Changes in fair value of these derivatives and trading account securities are reported as a component of mortgage banking income. | |
Goodwill and Other Intangible Assets — Under the acquisition method of accounting, the net assets of entities acquired by Huntington are recorded at their estimated fair value at the date of acquisition. The excess cost of the acquisition over the fair value of net assets acquired is recorded as goodwill. Other intangible assets are amortized either on an accelerated or straight-line basis over their estimated useful lives. Goodwill is evaluated for impairment on an annual basis at October 1st of each year or whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Other intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. | |
Pension and Other Postretirement Benefits — We recognize the funded status of the postretirement benefit plans on the Consolidated Balance Sheets. Net postretirement benefit cost charged to current earnings related to these plans is based on various actuarial assumptions regarding expected future experience. | |
Certain employees are participants in various defined contribution and other non-qualified supplemental retirement plans. Our contributions to these plans are charged to current earnings. | |
In addition, we maintain a 401(k) plan covering substantially all employees. Employer contributions to the plan, which are charged to current earnings, are based on employee contributions. | |
Share-Based Compensation — We use the fair value based method of accounting for awards of HBAN stock granted to employees under various stock option and restricted share plans. Stock compensation costs are recognized prospectively for all new awards granted under these plans. Compensation expense relating to share options is calculated using a methodology that is based on the underlying assumptions of the Black-Scholes option pricing model and is charged to expense over the requisite service period (e.g. vesting period). Compensation expense relating to restricted stock awards is based upon the fair value of the awards on the date of grant and is charged to earnings over the requisite service period (e.g., vesting period) of the award. | |
Stock Repurchases — Acquisitions of Huntington stock are recorded at cost. The re-issuance of shares is recorded at weighted-average cost. | |
Income Taxes — Income taxes are accounted for under the asset and liability method. Accordingly, deferred tax assets and liabilities are recognized for the future book and tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are determined using enacted tax rates expected to apply in the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income at the time of enactment of such change in tax rates. Any interest or penalties due for payment of income taxes are included in the provision for income taxes. To the extent that we do not consider it more likely than not that a deferred tax asset will be recovered, a valuation allowance is recorded. All positive and negative evidence is reviewed when determining how much of a valuation allowance is recognized on a quarterly basis. In determining the requirements for a valuation allowance, sources of possible taxable income are evaluated including future reversals of existing taxable temporary differences, future taxable income exclusive of reversing temporary differences and carryforwards, taxable income in appropriate carryback years, and tax-planning strategies. Huntington applies a more likely than not recognition threshold for all tax uncertainties. | |
Bank Owned Life Insurance — Huntington’s bank owned life insurance policies are recorded at their cash surrender value. Huntington recognizes tax-exempt income from the periodic increases in the cash surrender value of these policies and from death benefits. A portion of the cash surrender value is supported by holdings in separate accounts. Book value protection for the separate accounts is provided by the insurance carriers and a highly rated major bank. | |
Fair Value Measurements — The Company records or discloses certain of its assets and liabilities at fair value. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Fair value measurements are classified within one of three levels in a valuation hierarchy based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows: | |
Level 1 – inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. | |
Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. | |
Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value measurement. | |
A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. | |
Segment Results — Accounting policies for the business segments are the same as those used in the preparation of the Consolidated Financial Statements with respect to activities specifically attributable to each business segment. However, the preparation of business segment results requires Management to establish methodologies to allocate funding costs and benefits, expenses, and other financial elements to each business segment. Changes are made in these methodologies as appropriate. | |
Statement of Cash Flows — Cash and cash equivalents are defined as cash and due from banks which includes amounts on deposit with the Federal Reserve and federal funds sold and securities purchased under resale agreements. | |
Transactions with Related Parties — In the normal course of business, we may enter into transactions with various related parties. These transactions occur at prevailing market rates and terms and include funding arrangements, transfers of financial assets, administrative and operational support, and other miscellaneous services. |
Accounting_Standards_Update
Accounting Standards Update | 12 Months Ended |
Dec. 31, 2014 | |
Accounting Standards Update [Abstract] | |
ACCOUNTING STANDARDS UPDATE | 2. ACCOUNTING STANDARDS UPDATE |
ASU 2013-11— Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The ASU requires that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. However, unrecognized tax benefits should be presented in the financial statements as a liability and should not be combined with deferred tax assets in circumstances where availability or legal requirement and intent to settle additional incomes taxes is not met. The amendments were applied prospectively and were effective for interim and annual reporting periods beginning January 1, 2014. The amendments did not have a material impact to Huntington’s Consolidated Financial Statements. | |
ASU 2014-01— Investments (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects. | |
The amendments in ASU 2014-01 permit entities to make an accounting policy election to account for investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity recognizes the net investment performance in the income statement as a component of income tax expense (benefit). Huntington elected to early adopt the amended guidance during the first quarter of 2014. The guidance was applied retrospectively to all prior periods presented. The adoption resulted in an immaterial adjustment reducing retained earnings at the beginning of 2010. The impact to current period net income was not material. See discussion on Low Income Housing Tax Credit Partnerships in Note 19 for further information on this topic. | |
ASU 2014-04— Receivables (Topic 310): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. The ASU clarifies that an in substance repossession or foreclosure occurs upon either the creditor obtaining legal title to the residential real estate property or the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. The amendments are effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2014. The amendments may be adopted using either a modified retrospective transition method or a prospective transition method. Management does not believe the amendments will have a material impact to Huntington’s Consolidated Financial Statements. | |
ASU 2014-09—Revenue from Contracts with Customers (Topic 606): The amendments in ASU 2014-09 supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. The general principle of the amendments require an entity to recognize revenue upon the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance sets forth a five step approach to be utilized for revenue recognition. The amendments are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Management is currently assessing the impact to Huntington’s Consolidated Financial Statements. | |
ASU 2014-11— Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. The amendments in the ASU require repurchase-to-maturity transactions to be recorded and accounted for as secured borrowings. Amendments to Topic 860 also require separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty (i.e., a repurchase financing), which will result in secured borrowing accounting for the repurchase agreement, as well as additional required disclosures. The accounting amendments and disclosures are effective for interim and annual periods beginning after December 15, 2014. The disclosures for repurchase agreements, securities lending transactions, and repurchase-to-maturity transactions accounted for as secured borrowings are required to be presented for annual periods beginning after December 15, 2014, and for interim periods beginning after March 15, 2015. Management is currently assessing the impact to Huntington’s Consolidated Financial Statements. | |
ASU 2014-12— Compensation—Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. The amendments require that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. Specifically, if the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. The amendments are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Management is currently assessing the impact to Huntington’s Consolidated Financial Statements. | |
ASU 2014-13—Consolidation (Topic 810): Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity The amendments allow a reporting entity that consolidates a collateralized financing entity within the scope of the guidance to elect to measure the financial assets and the financial liabilities of that collateralized financing entity using the measurement alternative. Under the measurement alternative, the reporting entity should measure both the financial assets and the financial liabilities of that collateralized financing entity in its consolidated financial statements using the more observable of the fair value of the financial assets and the fair value of the financial liabilities. The amendments are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. Management does not believe the amendments will have a material impact to Huntington’s Consolidated Financial Statements. | |
ASU 2014-14— Receivables—Troubled Debt Restructurings by Creditors (Subtopic 310-40): Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure. The amendments require a mortgage loan to be derecognized and a separate receivable to be recognized upon foreclosure if the loan has a government guarantee that is non-separable from the loan before foreclosure, the creditor has the ability and intent to convey the real estate property to the guarantor, and any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Additionally, the separate other receivable should be measured based on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor upon foreclosure. The amendments are effective for annual periods and interim periods within those annual periods beginning after December 15, 2014. Management does not believe the amendments will have a material impact to Huntington’s Consolidated Financial Statements. |
Loans_and_Leases_and_Allowance
Loans and Leases and Allowance for Credit Losses | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||
Loans / Leases and Allowance for Credit Losses [Abstract] | ||||||||||||||||||||||
Loans / Leases AND ALLOWANCE FOR CREDIT LOSSES | 3. Loans and Leases AND ALLOWANCE FOR CREDIT LOSSES | |||||||||||||||||||||
Loans and leases for which Huntington has the intent and ability to hold for the foreseeable future, or until maturity or payoff, are classified in the Consolidated Balance Sheets as loans and leases. Except for loans which are accounted for at fair value, loans and leases are carried at the principal amount outstanding, net of unamortized deferred loan origination fees and costs and net of unearned income. At December 31, 2014 and 2013, the aggregate amount of these net unamortized deferred loan origination fees and net unearned income was $178.7 million and $192.9 million, respectively. | ||||||||||||||||||||||
Loan and Lease Portfolio Composition | ||||||||||||||||||||||
The table below summarizes the Company’s primary portfolios. For ACL purposes, these portfolios are further disaggregated into classes which are also summarized in the table below. | ||||||||||||||||||||||
Portfolio | Class | |||||||||||||||||||||
Commercial and industrial | Owner occupied | |||||||||||||||||||||
Purchased credit-impaired | ||||||||||||||||||||||
Other commercial and industrial | ||||||||||||||||||||||
Commercial real estate | Retail properties | |||||||||||||||||||||
Multi family | ||||||||||||||||||||||
Office | ||||||||||||||||||||||
Industrial and warehouse | ||||||||||||||||||||||
Purchased credit-impaired | ||||||||||||||||||||||
Other commercial real estate | ||||||||||||||||||||||
Automobile | NA (1) | |||||||||||||||||||||
Home equity | Secured by first-lien | |||||||||||||||||||||
Secured by junior-lien | ||||||||||||||||||||||
Residential mortgage | Residential mortgage | |||||||||||||||||||||
Purchased credit-impaired | ||||||||||||||||||||||
Other consumer | Other consumer | |||||||||||||||||||||
Purchased credit-impaired | ||||||||||||||||||||||
(1) Not applicable. The automobile loan portfolio is not further segregated into classes. | ||||||||||||||||||||||
Direct Financing Leases | ||||||||||||||||||||||
Huntington’s loan and lease portfolio includes lease financing receivables consisting of direct financing leases on equipment, which are included in C&I loans. Net investments in lease financing receivables by category at December 31, 2014 and 2013 were as follows: | ||||||||||||||||||||||
At December 31, | ||||||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||||||||||||||||
Commercial and industrial: | ||||||||||||||||||||||
Lease payments receivable | $ | 1,051,744 | $ | 1,426,928 | ||||||||||||||||||
Estimated residual value of leased assets | 483,407 | 409,184 | ||||||||||||||||||||
Gross investment in commercial lease financing receivables | 1,535,151 | 1,836,112 | ||||||||||||||||||||
Net deferred origination costs | 2,557 | 3,105 | ||||||||||||||||||||
Unearned income | -131,027 | -165,052 | ||||||||||||||||||||
Total net investment in commercial lease financing receivables | $ | 1,406,681 | $ | 1,674,165 | ||||||||||||||||||
The future lease rental payments due from customers on direct financing leases at December 31, 2014, totaled $1.1 billion and were as follows: $0.3 billion in 2015, $0.2 billion in 2016, $0.2 billion in 2017, $0.1 billion in 2018, $0.1 billion in 2019, and $0.2 thereafter. | ||||||||||||||||||||||
Fidelity Bank acquisition | ||||||||||||||||||||||
On March 30, 2012, Huntington acquired the loans of Fidelity Bank located in Dearborn, Michigan from the FDIC. Under the agreement, loans with a fair value of $523.9 million were acquired by Huntington. | ||||||||||||||||||||||
Camco Financial acquisition | ||||||||||||||||||||||
On March 1, 2014, Huntington completed its acquisition of Camco Financial in a stock and cash transaction valued at $109.5 million. Loans with a fair value of $559.4 million were acquired by Huntington. | ||||||||||||||||||||||
Purchased Credit-Impaired Loans | ||||||||||||||||||||||
Purchased loans with evidence of deterioration in credit quality since origination for which it is probable at acquisition that we will be unable to collect all contractually required payments are considered to be credit impaired. Purchased credit-impaired loans are initially recorded at fair value, which is estimated by discounting the cash flows expected to be collected at the acquisition date. Because the estimate of expected cash flows reflects an estimate of future credit losses expected to be incurred over the life of the loans, an allowance for credit losses is not recorded at the acquisition date. The excess of cash flows expected at acquisition over the estimated fair value, referred to as the accretable yield, is recognized in interest income over the remaining life of the loan, or pool of loans, on a level-yield basis. The difference between the contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the nonaccretable difference. A subsequent decrease in the estimate of cash flows expected to be received on purchased credit-impaired loans generally results in the recognition of an allowance for credit losses. Subsequent increases in cash flows result in reversal of any nonaccretable difference (or allowance for loan and lease losses to the extent any has been recorded) with a positive impact on interest income subsequently recognized. The measurement of cash flows involves assumptions and judgments for interest rates, prepayments, default rates, loss severity, and collateral values. All of these factors are inherently subjective and significant changes in the cash flow estimates over the life of the loan can result. | ||||||||||||||||||||||
The following table reflects the contractually required payments receivable, cash flows expected to be collected, and fair value of the credit impaired Camco Financial loans at acquisition date: | ||||||||||||||||||||||
March 1, | ||||||||||||||||||||||
(dollar amounts in thousands) | 2014 | |||||||||||||||||||||
Contractually required payments including interest | $ | 14,363 | ||||||||||||||||||||
Less: nonaccretable difference | -11,234 | |||||||||||||||||||||
Cash flows expected to be collected | 3,129 | |||||||||||||||||||||
Less: accretable yield | -143 | |||||||||||||||||||||
Fair value of credit impaired loans acquired | $ | 2,986 | ||||||||||||||||||||
The following table presents a rollforward of the accretable yield by acquisition for the year ended December 31, 2014 and 2013: | ||||||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||||||||||||||||
Fidelity Bank | ||||||||||||||||||||||
Balance at January 1, | $ | 27,995 | $ | 23,251 | ||||||||||||||||||
Accretion | -13,485 | -15,931 | ||||||||||||||||||||
Reclassification from nonaccretable difference | 4,878 | 20,675 | ||||||||||||||||||||
Balance at December 31, | $ | 19,388 | $ | 27,995 | ||||||||||||||||||
Camco Financial | ||||||||||||||||||||||
Impact of acquisition on March 1, 2014 | 143 | --- | ||||||||||||||||||||
Accretion | -5,597 | --- | ||||||||||||||||||||
Reclassification from nonaccretable difference | 6,278 | --- | ||||||||||||||||||||
Balance at December 31, | $ | 824 | $ | --- | ||||||||||||||||||
The allowance for loan losses recorded on the purchased credit-impaired loan portfolio at December 31, 2014 and 2013 was $4.1 million and $2.4 million, respectively. The following table reflects the ending and unpaid balances of all contractually required payments and carrying amounts of the acquired loans by acquisition at December 31, 2014 and December 31, 2013: | ||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||
(in thousands) | Ending Balance | Unpaid Balance | Ending Balance | Unpaid Balance | ||||||||||||||||||
Fidelity Bank | ||||||||||||||||||||||
Commercial and industrial | $ | 22,405 | $ | 33,622 | $ | 35,526 | $ | 50,798 | ||||||||||||||
Commercial real estate | 36,663 | 87,250 | 82,073 | 154,869 | ||||||||||||||||||
Residential mortgage | 1,912 | 3,096 | 2,498 | 3,681 | ||||||||||||||||||
Other consumer | 51 | 123 | 129 | 219 | ||||||||||||||||||
Total | $ | 61,031 | $ | 124,091 | $ | 120,226 | $ | 209,567 | ||||||||||||||
Camco Financial | ||||||||||||||||||||||
Commercial and industrial | $ | 823 | $ | 1,685 | $ | --- | $ | --- | ||||||||||||||
Commercial real estate | 1,708 | 3,826 | --- | --- | ||||||||||||||||||
Total | $ | 2,531 | $ | 5,511 | $ | --- | $ | --- | ||||||||||||||
Loan Purchases and Sales | ||||||||||||||||||||||
The following table summarizes significant portfolio loan purchase and sale activity for the years ended December 31, 2014, and 2013. | ||||||||||||||||||||||
Commercial | Commercial | Home | Residential | Other | ||||||||||||||||||
and Industrial | Real Estate | Automobile | Equity | Mortgage | Consumer | Total | ||||||||||||||||
(dollar amounts in thousands) | ||||||||||||||||||||||
Portfolio loans purchased during the: | ||||||||||||||||||||||
Year ended December 31, 2014 | $ | 326,557 | $ | --- | $ | --- | $ | --- | $ | 18,482 | $ | --- | $ | 345,039 | ||||||||
Year ended December 31, 2013 | 109,723 | --- | --- | --- | --- | --- | 109,723 | |||||||||||||||
Portfolio loans sold or transferred to loans held for sale during the: | ||||||||||||||||||||||
Year ended December 31, 2014 | 352,062 | 8,447 | --- | --- | --- | 7,592 | 368,101 | |||||||||||||||
Year ended December 31, 2013 | 225,930 | 4,767 | --- | --- | 205,334 | --- | 436,031 | |||||||||||||||
NALs and Past Due Loans | ||||||||||||||||||||||
The following table presents NALs by loan class for the years ended December 31, 2014 and 2013: | ||||||||||||||||||||||
December 31, | ||||||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||||||||||||||||
Commercial and industrial: | ||||||||||||||||||||||
Owner occupied | $ | 41,285 | $ | 38,321 | ||||||||||||||||||
Other commercial and industrial | 30,689 | 18,294 | ||||||||||||||||||||
Total commercial and industrial | $ | 71,974 | $ | 56,615 | ||||||||||||||||||
Commercial real estate: | ||||||||||||||||||||||
Retail properties | $ | 21,385 | $ | 27,328 | ||||||||||||||||||
Multi family | 9,743 | 9,289 | ||||||||||||||||||||
Office | 7,707 | 18,995 | ||||||||||||||||||||
Industrial and warehouse | 3,928 | 6,310 | ||||||||||||||||||||
Other commercial real estate | 5,760 | 11,495 | ||||||||||||||||||||
Total commercial real estate | $ | 48,523 | $ | 73,417 | ||||||||||||||||||
Automobile | $ | 4,623 | $ | 6,303 | ||||||||||||||||||
Home equity: | ||||||||||||||||||||||
Secured by first-lien | $ | 46,938 | $ | 36,288 | ||||||||||||||||||
Secured by junior-lien | 31,622 | 29,901 | ||||||||||||||||||||
Total home equity | $ | 78,560 | $ | 66,189 | ||||||||||||||||||
Residential mortgage | $ | 96,564 | $ | 119,532 | ||||||||||||||||||
Other consumer | $ | --- | $ | --- | ||||||||||||||||||
Total nonaccrual loans | $ | 300,244 | $ | 322,056 | ||||||||||||||||||
The amount of interest that would have been recorded under the original terms for total NAL loans was $20.6 million, $23.4 million, and $40.4 million for 2014, 2013, and 2012, respectively. The total amount of interest recorded to interest income for these loans was $8.4 million, $5.0 million, and $4.8 million in 2014, 2013, and 2012, respectively. | ||||||||||||||||||||||
The following table presents an aging analysis of loans and leases, including past due loans and leases, by loan class for the years ended December 31, 2014 and 2013 (1): | ||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||
90 or more | ||||||||||||||||||||||
(dollar amounts in thousands) | Past Due | Total Loans | days past due | |||||||||||||||||||
30-59 days | 60-89 days | 90 or more days | Total | Current | and Leases | and accruing | ||||||||||||||||
Commercial and industrial: | ||||||||||||||||||||||
Owner occupied | $ | 5,232 | $ | 2,981 | $ | 18,222 | $ | 26,435 | $ | 4,228,440 | $ | 4,254,875 | $ | --- | ||||||||
Purchased credit-impaired | 846 | --- | 4,937 | 5,783 | 17,445 | 23,228 | 4,937 | -2 | ||||||||||||||
Other commercial and industrial | 15,330 | 1,536 | 9,101 | 25,967 | 14,729,076 | 14,755,043 | --- | |||||||||||||||
Total commercial and industrial | $ | 21,408 | $ | 4,517 | $ | 32,260 | $ | 58,185 | $ | 18,974,961 | $ | 19,033,146 | $ | 4,937 | ||||||||
Commercial real estate: | ||||||||||||||||||||||
Retail properties | $ | 7,866 | $ | --- | $ | 4,021 | $ | 11,887 | $ | 1,345,859 | $ | 1,357,746 | $ | --- | ||||||||
Multi family | 1,517 | 312 | 3,337 | 5,166 | 1,085,250 | 1,090,416 | --- | |||||||||||||||
Office | 464 | 1,167 | 4,415 | 6,046 | 974,257 | 980,303 | --- | |||||||||||||||
Industrial and warehouse | 688 | --- | 2,649 | 3,337 | 510,064 | 513,401 | --- | |||||||||||||||
Purchased credit-impaired | 89 | 289 | 18,793 | 19,171 | 19,200 | 38,371 | 18,793 | -2 | ||||||||||||||
Other commercial real estate | 847 | 1,281 | 3,966 | 6,094 | 1,211,072 | 1,217,166 | --- | |||||||||||||||
Total commercial real estate | $ | 11,471 | $ | 3,049 | $ | 37,181 | $ | 51,701 | $ | 5,145,702 | $ | 5,197,403 | $ | 18,793 | ||||||||
Automobile | $ | 56,272 | $ | 10,427 | $ | 5,963 | $ | 72,662 | $ | 8,617,240 | $ | 8,689,902 | $ | 5,703 | ||||||||
Home equity: | ||||||||||||||||||||||
Secured by first-lien | $ | 15,036 | $ | 8,085 | $ | 33,014 | $ | 56,135 | $ | 5,072,669 | $ | 5,128,804 | $ | 4,471 | ||||||||
Secured by junior-lien | 22,473 | 12,297 | 33,406 | 68,176 | 3,293,935 | 3,362,111 | 7,688 | |||||||||||||||
Total home equity | $ | 37,509 | $ | 20,382 | $ | 66,420 | $ | 124,311 | $ | 8,366,604 | $ | 8,490,915 | $ | 12,159 | ||||||||
Residential mortgage: | ||||||||||||||||||||||
Residential mortgage | $ | 102,702 | $ | 42,009 | $ | 139,379 | $ | 284,090 | $ | 5,544,607 | $ | 5,828,697 | $ | 88,052 | -3 | |||||||
Purchased credit-impaired | --- | --- | --- | --- | 1,912 | 1,912 | --- | -2 | ||||||||||||||
Total residential mortgage | $ | 102,702 | $ | 42,009 | $ | 139,379 | $ | 284,090 | $ | 5,546,519 | $ | 5,830,609 | $ | 88,052 | ||||||||
Other consumer: | ||||||||||||||||||||||
Other consumer | $ | 5,491 | $ | 1,086 | $ | 837 | $ | 7,414 | $ | 406,286 | $ | 413,700 | $ | 837 | ||||||||
Purchased credit-impaired | --- | --- | --- | --- | 51 | 51 | --- | -2 | ||||||||||||||
Total other consumer | $ | 5,491 | $ | 1,086 | $ | 837 | $ | 7,414 | $ | 406,337 | $ | 413,751 | $ | 837 | ||||||||
Total loans and leases | $ | 234,853 | $ | 81,470 | $ | 282,040 | $ | 598,363 | $ | 47,057,363 | $ | 47,655,726 | $ | 130,481 | ||||||||
31-Dec-13 | ||||||||||||||||||||||
90 or more | ||||||||||||||||||||||
(dollar amounts in thousands) | Past Due | Total Loans | days past due | |||||||||||||||||||
30-59 days | 60-89 days | 90 or more days | Total | Current | and Leases | and accruing | ||||||||||||||||
Commercial and industrial: | ||||||||||||||||||||||
Owner occupied | $ | 5,935 | $ | 1,879 | $ | 25,658 | $ | 33,472 | $ | 4,314,400 | $ | 4,347,872 | $ | --- | ||||||||
Purchased credit-impaired | 241 | 433 | 14,562 | 15,236 | 20,290 | 35,526 | 14,562 | -2 | ||||||||||||||
Other commercial and industrial | 10,342 | 3,075 | 11,210 | 24,627 | 13,186,251 | 13,210,878 | --- | |||||||||||||||
Total commercial and industrial | $ | 16,518 | $ | 5,387 | $ | 51,430 | $ | 73,335 | $ | 17,520,941 | $ | 17,594,276 | $ | 14,562 | ||||||||
Commercial real estate: | ||||||||||||||||||||||
Retail properties | $ | 19,372 | $ | 1,228 | $ | 5,252 | $ | 25,852 | $ | 1,237,717 | $ | 1,263,569 | $ | --- | ||||||||
Multi family | 2,425 | 943 | 6,726 | 10,094 | 1,015,497 | 1,025,591 | --- | |||||||||||||||
Office | 1,635 | 545 | 12,700 | 14,880 | 927,413 | 942,293 | --- | |||||||||||||||
Industrial and warehouse | 465 | 3,714 | 4,395 | 8,574 | 464,319 | 472,893 | --- | |||||||||||||||
Purchased credit-impaired | 1,311 | --- | 39,142 | 40,453 | 41,620 | 82,073 | 39,142 | -2 | ||||||||||||||
Other commercial real estate | 5,922 | 1,134 | 7,192 | 14,248 | 1,049,427 | 1,063,675 | --- | |||||||||||||||
Total commercial real estate | $ | 31,130 | $ | 7,564 | $ | 75,407 | $ | 114,101 | $ | 4,735,993 | $ | 4,850,094 | $ | 39,142 | ||||||||
Automobile | $ | 45,174 | $ | 8,863 | $ | 5,140 | $ | 59,177 | $ | 6,579,536 | $ | 6,638,713 | $ | 5,055 | ||||||||
Home equity: | ||||||||||||||||||||||
Secured by first-lien | $ | 20,551 | $ | 8,746 | $ | 28,472 | $ | 57,769 | $ | 4,784,375 | $ | 4,842,144 | $ | 6,338 | ||||||||
Secured by junior-lien | 28,965 | 13,071 | 31,392 | 73,428 | 3,420,746 | 3,494,174 | 7,645 | |||||||||||||||
Total home equity | 49,516 | $ | 21,817 | $ | 59,864 | $ | 131,197 | $ | 8,205,121 | $ | 8,336,318 | $ | 13,983 | |||||||||
Residential mortgage: | ||||||||||||||||||||||
Residential mortgage | 101,584 | $ | 41,784 | $ | 158,956 | $ | 302,324 | $ | 5,016,266 | $ | 5,318,590 | $ | 90,115 | -4 | ||||||||
Purchased credit-impaired | 194 | --- | 339 | 533 | 1,965 | 2,498 | 339 | -2 | ||||||||||||||
Total residential mortgage | $ | 101,778 | $ | 41,784 | $ | 159,295 | $ | 302,857 | $ | 5,018,231 | $ | 5,321,088 | $ | 90,454 | ||||||||
Other consumer: | ||||||||||||||||||||||
Other consumer | 6,465 | $ | 1,276 | $ | 998 | $ | 8,739 | $ | 371,143 | $ | 379,882 | $ | 998 | |||||||||
Purchased credit-impaired | 69 | --- | --- | 69 | 60 | 129 | --- | -2 | ||||||||||||||
Total other consumer | $ | 6,534 | $ | 1,276 | $ | 998 | $ | 8,808 | $ | 371,203 | $ | 380,011 | $ | 998 | ||||||||
Total loans and leases | $ | 250,650 | $ | 86,691 | $ | 352,134 | $ | 689,475 | $ | 42,431,025 | $ | 43,120,500 | $ | 164,194 | ||||||||
-1 | NALs are included in this aging analysis based on the loan's past due status. | |||||||||||||||||||||
-2 | All amounts represent accruing purchased credit-impaired loans related to the Camco Financial and FDIC-assisted Fidelity Bank acquisition. Under the applicable accounting guidance (ASC-310-30), the loans were recorded at fair value upon acquisition and remain in accruing status. | |||||||||||||||||||||
-3 | Includes $55,012 thousand guaranteed by the U.S. government. | |||||||||||||||||||||
-4 | Includes $87,985 thousand guaranteed by the U.S. government. | |||||||||||||||||||||
Allowance for Credit Losses | ||||||||||||||||||||||
The ACL is increased through a provision for credit losses that is charged to earnings, based on Management’s quarterly evaluation of the factors previously mentioned, and is reduced by charge-offs, net of recoveries, and the ACL associated with securitized or sold loans. There were no material changes in assumptions or estimation techniques compared with prior periods that impacted the determination of the current period’s ALLL and AULC. | ||||||||||||||||||||||
The following table presents ALLL and AULC activity by portfolio segment for the years ended December 31, 2014, 2013, and 2012: | ||||||||||||||||||||||
Commercial | Commercial | Home | Residential | Other | ||||||||||||||||||
and Industrial | Real Estate | Automobile | Equity | Mortgage | Consumer | Total | ||||||||||||||||
(dollar amounts in thousands) | ||||||||||||||||||||||
Year ended December 31, 2014: | ||||||||||||||||||||||
ALLL balance, beginning of period | $ | 265,801 | $ | 162,557 | $ | 31,053 | $ | 111,131 | $ | 39,577 | $ | 37,751 | $ | 647,870 | ||||||||
Loan charge-offs | -76,654 | -24,704 | -31,330 | -54,473 | -25,946 | -33,494 | -246,601 | |||||||||||||||
Recoveries of loans previously charged-off | 44,531 | 34,071 | 13,762 | 17,526 | 6,194 | 5,890 | 121,974 | |||||||||||||||
Provision for loan and lease losses | 53,317 | -69,085 | 19,981 | 22,229 | 27,386 | 29,254 | 83,082 | |||||||||||||||
Allowance for loans sold or transferred to loans held for sale | --- | --- | --- | --- | --- | -1,129 | -1,129 | |||||||||||||||
ALLL balance, end of period | $ | 286,995 | $ | 102,839 | $ | 33,466 | $ | 96,413 | $ | 47,211 | $ | 38,272 | $ | 605,196 | ||||||||
AULC balance, beginning of period | $ | 49,596 | $ | 9,891 | $ | --- | $ | 1,763 | $ | 9 | $ | 1,640 | $ | 62,899 | ||||||||
Provision for unfunded loan commitments and letters of credit | -608 | -3,850 | --- | 161 | -1 | 2,205 | -2,093 | |||||||||||||||
AULC balance, end of period | $ | 48,988 | $ | 6,041 | $ | --- | $ | 1,924 | $ | 8 | $ | 3,845 | $ | 60,806 | ||||||||
ACL balance, end of period | $ | 335,983 | $ | 108,880 | $ | 33,466 | $ | 98,337 | $ | 47,219 | $ | 42,117 | $ | 666,002 | ||||||||
(dollar amounts in thousands) | ||||||||||||||||||||||
Year ended December 31, 2013: | ||||||||||||||||||||||
ALLL balance, beginning of period | $ | 241,051 | $ | 285,369 | $ | 34,979 | $ | 118,764 | $ | 61,658 | $ | 27,254 | $ | 769,075 | ||||||||
Loan charge-offs | -45,904 | -69,512 | -23,912 | -98,184 | -34,236 | -34,568 | -306,316 | |||||||||||||||
Recoveries of loans previously charged-off | 29,514 | 44,658 | 13,375 | 15,921 | 7,074 | 7,108 | 117,650 | |||||||||||||||
Provision for loan and lease losses | 41,140 | -97,958 | 6,611 | 74,630 | 5,417 | 37,957 | 67,797 | |||||||||||||||
Allowance for loans sold or transferred to loans held for sale | --- | --- | --- | --- | -336 | --- | -336 | |||||||||||||||
ALLL balance, end of period | $ | 265,801 | $ | 162,557 | $ | 31,053 | $ | 111,131 | $ | 39,577 | $ | 37,751 | $ | 647,870 | ||||||||
AULC balance, beginning of period | $ | 33,868 | $ | 4,740 | $ | --- | $ | 1,356 | $ | 3 | $ | 684 | $ | 40,651 | ||||||||
Provision for unfunded loan commitments and letters of credit | 15,728 | 5,151 | --- | 407 | 6 | 956 | 22,248 | |||||||||||||||
AULC balance, end of period | $ | 49,596 | $ | 9,891 | $ | --- | $ | 1,763 | $ | 9 | $ | 1,640 | $ | 62,899 | ||||||||
ACL balance, end of period | $ | 315,397 | $ | 172,448 | $ | 31,053 | $ | 112,894 | $ | 39,586 | $ | 39,391 | $ | 710,769 | ||||||||
(dollar amounts in thousands) | ||||||||||||||||||||||
Year Ended December 31, 2012: | ||||||||||||||||||||||
ALLL balance, beginning of period | $ | 275,367 | $ | 388,706 | $ | 38,282 | $ | 143,873 | $ | 87,194 | $ | 31,406 | $ | 964,828 | ||||||||
Loan charge-offs | -101,475 | -118,051 | -26,070 | -124,286 | -52,228 | -33,090 | -455,200 | |||||||||||||||
Recoveries of loans previously charged-off | 37,227 | 39,622 | 16,628 | 7,907 | 4,305 | 7,049 | 112,738 | |||||||||||||||
Provision for loan and lease losses | 29,932 | -24,908 | 12,964 | 91,270 | 24,046 | 21,889 | 155,193 | |||||||||||||||
Allowance for loans sold or transferred to loans held for sale | --- | --- | -6,825 | --- | -1,659 | --- | -8,484 | |||||||||||||||
ALLL balance, end of period | $ | 241,051 | $ | 285,369 | $ | 34,979 | $ | 118,764 | $ | 61,658 | $ | 27,254 | $ | 769,075 | ||||||||
AULC balance, beginning of period | $ | 39,658 | $ | 5,852 | $ | --- | $ | 2,134 | $ | 1 | $ | 811 | $ | 48,456 | ||||||||
Provision for unfunded loan commitments and letters-of-credit | -5,790 | -1,112 | --- | -778 | 2 | -127 | -7,805 | |||||||||||||||
AULC balance, end of period | 33,868 | 4,740 | --- | 1,356 | 3 | 684 | 40,651 | |||||||||||||||
ACL balance, end of period | $ | 274,919 | $ | 290,109 | $ | 34,979 | $ | 120,120 | $ | 61,661 | $ | 27,938 | $ | 809,726 | ||||||||
Credit Quality Indicators | ||||||||||||||||||||||
To facilitate the monitoring of credit quality for C&I and CRE loans, and for purposes of determining an appropriate ACL level for these loans, Huntington utilizes the following categories of credit grades: | ||||||||||||||||||||||
Pass - Higher quality loans that do not fit any of the other categories described below. | ||||||||||||||||||||||
OLEM - The credit risk may be relatively minor yet represent a risk given certain specific circumstances. If the potential weaknesses are not monitored or mitigated, the loan may weaken or the collateral may be inadequate to protect Huntington’s position in the future. For these reasons, Huntington considers the loans to be potential problem loans. | ||||||||||||||||||||||
Substandard - Inadequately protected loans by the borrower’s ability to repay, equity, and/or the collateral pledged to secure the loan. These loans have identified weaknesses that could hinder normal repayment or collection of the debt. It is likely Huntington will sustain some loss if any identified weaknesses are not mitigated. | ||||||||||||||||||||||
Doubtful - Loans that have all of the weaknesses inherent in those loans classified as Substandard, with the added elements of the full collection of the loan is improbable and that the possibility of loss is high. | ||||||||||||||||||||||
The categories above, which are derived from standard regulatory rating definitions, are assigned upon initial approval of the loan or lease and subsequently updated as appropriate. | ||||||||||||||||||||||
Commercial loans categorized as OLEM, Substandard, or Doubtful are considered Criticized loans. Commercial loans categorized as Substandard or Doubtful are also considered Classified loans. | ||||||||||||||||||||||
For all classes within all consumer loan portfolios, each loan is assigned a specific PD factor that is partially based on the borrower’s most recent credit bureau score, which we update quarterly. A credit bureau score is a credit score developed by Fair Isaac Corporation based on data provided by the credit bureaus. The credit bureau score is widely accepted as the standard measure of consumer credit risk used by lenders, regulators, rating agencies, and consumers. The higher the credit bureau score, the higher likelihood of repayment and therefore, an indicator of higher credit quality. | ||||||||||||||||||||||
Huntington assesses the risk in the loan portfolio by utilizing numerous risk characteristics. The classifications described above, and also presented in the table below, represent one of those characteristics that are closely monitored in the overall credit risk management processes. | ||||||||||||||||||||||
The following table presents each loan and lease class by credit quality indicator for the years ended December 31, 2014 and 2013: | ||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||
Credit Risk Profile by UCS classification | ||||||||||||||||||||||
(dollar amounts in thousands) | Pass | OLEM | Substandard | Doubtful | Total | |||||||||||||||||
Commercial and industrial: | ||||||||||||||||||||||
Owner occupied | $ | 3,959,046 | $ | 117,637 | $ | 175,767 | $ | 2,425 | $ | 4,254,875 | ||||||||||||
Purchased impaired | 3,915 | 741 | 14,901 | 3,671 | 23,228 | |||||||||||||||||
Other commercial and industrial | 13,925,334 | 386,666 | 440,036 | 3,007 | 14,755,043 | |||||||||||||||||
Total commercial and industrial | $ | 17,888,295 | $ | 505,044 | $ | 630,704 | $ | 9,103 | $ | 19,033,146 | ||||||||||||
Commercial real estate: | ||||||||||||||||||||||
Retail properties | $ | 1,279,064 | $ | 10,204 | $ | 67,911 | $ | 567 | $ | 1,357,746 | ||||||||||||
Multi family | 1,044,521 | 12,608 | 32,322 | 965 | 1,090,416 | |||||||||||||||||
Office | 902,474 | 33,107 | 42,578 | 2,144 | 980,303 | |||||||||||||||||
Industrial and warehouse | 487,454 | 7,877 | 17,781 | 289 | 513,401 | |||||||||||||||||
Purchased impaired | 6,914 | 803 | 25,460 | 5,194 | 38,371 | |||||||||||||||||
Other commercial real estate | 1,166,293 | 9,635 | 40,019 | 1,219 | 1,217,166 | |||||||||||||||||
Total commercial real estate | $ | 4,886,720 | $ | 74,234 | $ | 226,071 | $ | 10,378 | $ | 5,197,403 | ||||||||||||
Credit Risk Profile by FICO score (1) | ||||||||||||||||||||||
750+ | 650-749 | <650 | Other (2) | Total | ||||||||||||||||||
Automobile | $ | 4,165,811 | $ | 3,249,141 | $ | 1,028,381 | $ | 246,569 | $ | 8,689,902 | ||||||||||||
Home equity: | ||||||||||||||||||||||
Secured by first-lien | $ | 3,255,088 | $ | 1,426,191 | $ | 283,152 | $ | 164,373 | $ | 5,128,804 | ||||||||||||
Secured by junior-lien | 1,832,663 | 1,095,332 | 348,825 | 85,291 | 3,362,111 | |||||||||||||||||
Total home equity | $ | 5,087,751 | $ | 2,521,523 | $ | 631,977 | $ | 249,664 | $ | 8,490,915 | ||||||||||||
Residential mortgage: | ||||||||||||||||||||||
Residential mortgage | $ | 3,285,310 | $ | 1,785,137 | $ | 666,562 | $ | 91,688 | $ | 5,828,697 | ||||||||||||
Purchased impaired | 594 | 1,135 | 183 | --- | 1,912 | |||||||||||||||||
Total residential mortgage | $ | 3,285,904 | $ | 1,786,272 | $ | 666,745 | $ | 91,688 | $ | 5,830,609 | ||||||||||||
Other consumer: | ||||||||||||||||||||||
Other consumer | $ | 195,128 | $ | 187,781 | $ | 30,582 | $ | 209 | $ | 413,700 | ||||||||||||
Purchased impaired | --- | 51 | --- | --- | 51 | |||||||||||||||||
Total other consumer loans | $ | 195,128 | $ | 187,832 | $ | 30,582 | $ | 209 | $ | 413,751 | ||||||||||||
31-Dec-13 | ||||||||||||||||||||||
Credit Risk Profile by UCS classification | ||||||||||||||||||||||
(dollar amounts in thousands) | Pass | OLEM | Substandard | Doubtful | Total | |||||||||||||||||
Commercial and industrial: | ||||||||||||||||||||||
Owner occupied | $ | 4,052,579 | $ | 130,645 | $ | 155,994 | $ | 8,654 | $ | 4,347,872 | ||||||||||||
Purchased impaired | 5,015 | 661 | 27,693 | 2,157 | 35,526 | |||||||||||||||||
Other commercial and industrial | 12,630,512 | 211,860 | 364,343 | 4,163 | 13,210,878 | |||||||||||||||||
Total commercial and industrial | $ | 16,688,106 | $ | 343,166 | $ | 548,030 | $ | 14,974 | $ | 17,594,276 | ||||||||||||
Commercial real estate: | ||||||||||||||||||||||
Retail properties | $ | 1,153,747 | $ | 16,003 | $ | 93,819 | $ | --- | $ | 1,263,569 | ||||||||||||
Multi family | 972,526 | 16,540 | 36,411 | 114 | 1,025,591 | |||||||||||||||||
Office | 847,411 | 4,866 | 87,722 | 2,294 | 942,293 | |||||||||||||||||
Industrial and warehouse | 431,057 | 14,138 | 27,698 | --- | 472,893 | |||||||||||||||||
Purchased impaired | 13,127 | 3,586 | 62,577 | 2,783 | 82,073 | |||||||||||||||||
Other commercial real estate | 977,987 | 16,270 | 68,653 | 765 | 1,063,675 | |||||||||||||||||
Total commercial real estate | $ | 4,395,855 | $ | 71,403 | $ | 376,880 | $ | 5,956 | $ | 4,850,094 | ||||||||||||
Credit Risk Profile by FICO score (1) | ||||||||||||||||||||||
750+ | 650-749 | <650 | Other (2) | Total | ||||||||||||||||||
Automobile | $ | 2,987,323 | $ | 2,517,756 | $ | 945,604 | $ | 188,030 | $ | 6,638,713 | ||||||||||||
Home equity: | ||||||||||||||||||||||
Secured by first-lien | 3,018,784 | 1,412,445 | 299,681 | 111,234 | 4,842,144 | |||||||||||||||||
Secured by junior-lien | 1,811,102 | 1,213,024 | 413,695 | 56,353 | 3,494,174 | |||||||||||||||||
Total home equity | $ | 4,829,886 | $ | 2,625,469 | $ | 713,376 | $ | 167,587 | $ | 8,336,318 | ||||||||||||
Residential mortgage: | ||||||||||||||||||||||
Residential mortgage | 2,837,590 | 1,710,183 | 699,541 | 71,276 | 5,318,590 | |||||||||||||||||
Purchased impaired | 588 | 989 | 921 | --- | 2,498 | |||||||||||||||||
Total residential mortgage | 2,838,178 | $ | 1,711,172 | $ | 700,462 | $ | 71,276 | $ | 5,321,088 | |||||||||||||
Other consumer: | ||||||||||||||||||||||
Other consumer | 161,858 | 157,675 | 45,370 | 14,979 | 379,882 | |||||||||||||||||
Purchased impaired | --- | 60 | 69 | --- | 129 | |||||||||||||||||
Total other consumer loans | 161,858 | $ | 157,735 | $ | 45,439 | $ | 14,979 | $ | 380,011 | |||||||||||||
-1 | Reflects currently updated customer credit scores. | |||||||||||||||||||||
-2 | Reflects deferred fees and costs, loans in process, loans to legal entities, etc. | |||||||||||||||||||||
Impaired Loans | ||||||||||||||||||||||
For all classes within the C&I and CRE portfolios, all loans with an outstanding balance of $1.0 million or greater are considered for individual evaluation of impairment on a quarterly basis. Generally, consumer loans within any class are not individually evaluated on a regular basis for impairment. All TDRs, regardless of the outstanding balance amount, are also considered to be impaired. Loans acquired with evidence of deterioration of credit quality since origination for which it is probable at acquisition that all contractually required payments will not be collected are also considered to be impaired. | ||||||||||||||||||||||
Once a loan has been identified for an assessment of impairment, the loan is considered impaired when, based on current information and events, it is probable that all amounts due according to the contractual terms of the loan agreement will not be collected. This determination requires significant judgment and use of estimates, and the eventual outcome may differ significantly from those estimates. | ||||||||||||||||||||||
The following tables present the balance of the ALLL attributable to loans by portfolio segment individually and collectively evaluated for impairment and the related loan and lease balance for the years ended December 31, 2014, and 2013 (1): | ||||||||||||||||||||||
Commercial | Commercial | Residential | Other | |||||||||||||||||||
(dollar amounts in thousands) | and Industrial | Real Estate | Automobile | Home Equity | Mortgage | Consumer | Total | |||||||||||||||
ALLL at December 31, 2014: | ||||||||||||||||||||||
Portion of ALLL balance: | ||||||||||||||||||||||
Attributable to purchased credit-impaired loans | $ | 3,846 | $ | --- | $ | --- | $ | --- | $ | 8 | $ | 245 | $ | 4,099 | ||||||||
Attributable to loans individually evaluated for impairment | 11,049 | 18,887 | 1,531 | 26,027 | 16,535 | 214 | 74,243 | |||||||||||||||
Attributable to loans collectively evaluated for impairment | 272,100 | 83,952 | 31,935 | 70,386 | 30,668 | 37,813 | 526,854 | |||||||||||||||
Total ALLL balance | $ | 286,995 | $ | 102,839 | $ | 33,466 | $ | 96,413 | $ | 47,211 | $ | 38,272 | $ | 605,196 | ||||||||
Loans and Leases at December 31, 2014: | ||||||||||||||||||||||
Portion of loan and lease ending balance: | ||||||||||||||||||||||
Attributable to purchased credit-impaired loans | $ | 23,228 | $ | 38,371 | $ | --- | $ | --- | $ | 1,912 | $ | 51 | $ | 63,562 | ||||||||
Individually evaluated for impairment | 216,993 | 217,262 | 30,612 | 310,446 | 369,577 | 4,088 | 1,148,978 | |||||||||||||||
Collectively evaluated for impairment | 18,792,925 | 4,941,770 | 8,659,290 | 8,180,469 | 5,459,120 | 409,612 | 46,443,186 | |||||||||||||||
Total loans evaluated for impairment | $ | 19,033,146 | $ | 5,197,403 | $ | 8,689,902 | $ | 8,490,915 | $ | 5,830,609 | $ | 413,751 | $ | 47,655,726 | ||||||||
Portion of ending balance of impaired loans: | ||||||||||||||||||||||
With allowance assigned to the loan and lease balances | $ | 202,376 | $ | 144,162 | $ | 30,612 | $ | 310,446 | $ | 371,489 | $ | 4,139 | $ | 1,063,224 | ||||||||
With no allowance assigned to the loan and lease balances | 37,845 | 111,471 | --- | --- | --- | --- | 149,316 | |||||||||||||||
Total | $ | 240,221 | $ | 255,633 | $ | 30,612 | $ | 310,446 | $ | 371,489 | $ | 4,139 | $ | 1,212,540 | ||||||||
Average balance of impaired loans | $ | 174,316 | $ | 511,590 | $ | 34,637 | $ | 258,881 | $ | 384,026 | $ | 2,879 | $ | 1,366,329 | ||||||||
ALLL on impaired loans | 14,895 | 18,887 | 1,531 | 26,027 | 16,543 | 459 | 78,342 | |||||||||||||||
Commercial | Commercial | Residential | Other | |||||||||||||||||||
(dollar amounts in thousands) | and Industrial | Real Estate | Automobile | Home Equity | Mortgage | Consumer | Total | |||||||||||||||
ALLL at December 31, 2013: | ||||||||||||||||||||||
Portion of ending balance: | ||||||||||||||||||||||
Attributable to purchased credit-impaired loans | $ | 2,404 | $ | --- | $ | --- | $ | --- | $ | 36 | $ | --- | $ | 2,440 | ||||||||
Attributable to loans individually evaluated for impairment | 6,129 | 34,935 | 682 | 8,003 | 10,555 | 136 | 60,440 | |||||||||||||||
Attributable to loans collectively evaluated for impairment | 257,268 | 127,622 | 30,371 | 103,128 | 28,986 | 37,615 | 584,990 | |||||||||||||||
Total ALLL balance | $ | 265,801 | $ | 162,557 | $ | 31,053 | $ | 111,131 | $ | 39,577 | $ | 37,751 | $ | 647,870 | ||||||||
Loans and Leases at December 31, 2013: | ||||||||||||||||||||||
Portion of ending balance of impaired loans: | ||||||||||||||||||||||
Attributable to purchased credit-impaired loans | $ | 35,526 | $ | 82,073 | $ | --- | $ | --- | $ | 2,498 | $ | 129 | $ | 120,226 | ||||||||
Individually evaluated for impairment | 108,316 | 268,362 | 37,084 | 208,981 | 387,937 | 1,041 | 1,011,721 | |||||||||||||||
Collectively evaluated for impairment | 17,450,434 | 4,499,659 | 6,601,629 | 8,127,337 | 4,930,653 | 378,841 | 41,988,553 | |||||||||||||||
Total loans evaluated for impairment | $ | 17,594,276 | $ | 4,850,094 | $ | 6,638,713 | $ | 8,336,318 | $ | 5,321,088 | $ | 380,011 | $ | 43,120,500 | ||||||||
Portion of ending balance: | ||||||||||||||||||||||
With allowance assigned to the loan and lease balances | $ | 126,626 | $ | 187,836 | $ | 37,084 | $ | 208,981 | $ | 390,435 | $ | 1,041 | $ | 952,003 | ||||||||
With no allowance assigned to the loan and lease balances | 17,216 | 162,599 | --- | --- | --- | 129 | 179,944 | |||||||||||||||
Total | $ | 143,842 | $ | 350,435 | $ | 37,084 | $ | 208,981 | $ | 390,435 | $ | 1,170 | $ | 1,131,947 | ||||||||
Average balance of impaired loans | $ | 166,173 | $ | 365,053 | $ | 39,861 | $ | 162,170 | $ | 379,815 | $ | 2,248 | $ | 1,115,320 | ||||||||
ALLL on impaired loans | 8,533 | 34,935 | 682 | 8,003 | 10,591 | 136 | 62,880 | |||||||||||||||
The following tables present by class the ending, unpaid principal balance, and the related ALLL, along with the average balance and interest income recognized only for loans and leases individually evaluated for impairment and purchased credit-impaired loans for the years ended December 31, 2014 and 2013 (1), (2): | ||||||||||||||||||||||
Year Ended | ||||||||||||||||||||||
31-Dec-14 | 31-Dec-14 | |||||||||||||||||||||
Unpaid | Interest | |||||||||||||||||||||
Ending | Principal | Related | Average | Income | ||||||||||||||||||
(dollar amounts in thousands) | Balance | Balance (5) | Allowance | Balance | Recognized | |||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||
Commercial and industrial: | ||||||||||||||||||||||
Owner occupied | $ | 13,536 | $ | 13,536 | $ | --- | $ | 5,740 | $ | 205 | ||||||||||||
Purchased credit-impaired | --- | --- | --- | --- | --- | |||||||||||||||||
Other commercial and industrial | 24,309 | 26,858 | --- | 7,536 | 375 | |||||||||||||||||
Total commercial and industrial | $ | 37,845 | $ | 40,394 | $ | --- | $ | 13,276 | $ | 580 | ||||||||||||
Commercial real estate: | ||||||||||||||||||||||
Retail properties | $ | 61,915 | $ | 91,627 | $ | --- | $ | 53,121 | $ | 2,454 | ||||||||||||
Multi family | --- | --- | --- | --- | --- | |||||||||||||||||
Office | 1,130 | 3,574 | --- | 3,709 | 311 | |||||||||||||||||
Industrial and warehouse | 3,447 | 3,506 | --- | 5,012 | 248 | |||||||||||||||||
Purchased credit-impaired | 38,371 | 91,075 | --- | 59,424 | 11,519 | |||||||||||||||||
Other commercial real estate | 6,608 | 6,815 | --- | 6,598 | 286 | |||||||||||||||||
Total commercial real estate | $ | 111,471 | $ | 196,597 | $ | --- | $ | 127,864 | $ | 14,818 | ||||||||||||
Automobile | $ | --- | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||||||
Home equity: | ||||||||||||||||||||||
Secured by first-lien | $ | --- | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||||||
Secured by junior-lien | --- | --- | --- | --- | --- | |||||||||||||||||
Total home equity | $ | --- | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||||||
Residential mortgage: | ||||||||||||||||||||||
Residential mortgage | $ | --- | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||||||
Purchased credit-impaired | --- | --- | --- | --- | --- | |||||||||||||||||
Total residential mortgage | $ | --- | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||||||
Other consumer: | ||||||||||||||||||||||
Other consumer | $ | --- | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||||||
Purchased credit-impaired | --- | --- | --- | --- | --- | |||||||||||||||||
Total other consumer | $ | --- | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||||||
With an allowance recorded: | ||||||||||||||||||||||
Commercial and industrial: (3) | ||||||||||||||||||||||
Owner occupied | $ | 44,869 | $ | 53,639 | $ | 4,220 | $ | 40,192 | $ | 1,557 | ||||||||||||
Purchased credit-impaired | 23,228 | 35,307 | 3,846 | 32,253 | 6,973 | |||||||||||||||||
Other commercial and industrial | 134,279 | 162,908 | 6,829 | 88,595 | 2,686 | |||||||||||||||||
Total commercial and industrial | $ | 202,376 | $ | 251,854 | $ | 14,895 | $ | 161,040 | $ | 11,216 | ||||||||||||
Commercial real estate: (4) | ||||||||||||||||||||||
Retail properties | $ | 37,081 | $ | 38,397 | $ | 3,536 | $ | 63,393 | $ | 1,983 | ||||||||||||
Multi family | 17,277 | 23,725 | 2,339 | 16,897 | 659 | |||||||||||||||||
Office | 52,953 | 56,268 | 8,399 | 52,831 | 2,381 | |||||||||||||||||
Industrial and warehouse | 8,888 | 10,396 | 720 | 9,092 | 274 | |||||||||||||||||
Purchased credit-impaired | --- | --- | --- | --- | --- | |||||||||||||||||
Other commercial real estate | 27,963 | 33,472 | 3,893 | 241,513 | 1,831 | |||||||||||||||||
Total commercial real estate | $ | 144,162 | $ | 162,258 | $ | 18,887 | $ | 383,726 | $ | 7,128 | ||||||||||||
Automobile | $ | 30,612 | $ | 32,483 | $ | 1,531 | $ | 34,637 | $ | 2,637 | ||||||||||||
Home equity: | ||||||||||||||||||||||
Secured by first-lien | $ | 145,566 | $ | 157,978 | $ | 8,296 | $ | 126,602 | $ | 5,496 | ||||||||||||
Secured by junior-lien | 164,880 | 208,118 | 17,731 | 132,279 | 6,379 | |||||||||||||||||
Total home equity | $ | 310,446 | $ | 366,096 | $ | 26,027 | $ | 258,881 | $ | 11,875 | ||||||||||||
Residential mortgage: (6) | ||||||||||||||||||||||
Residential mortgage | $ | 369,577 | $ | 415,280 | $ | 16,535 | $ | 381,745 | $ | 11,594 | ||||||||||||
Purchased credit-impaired | 1,912 | 3,096 | 8 | 2,281 | 574 | |||||||||||||||||
Total residential mortgage | $ | 371,489 | $ | 418,376 | $ | 16,543 | $ | 384,026 | $ | 12,168 | ||||||||||||
Other consumer: | ||||||||||||||||||||||
Other consumer | $ | 4,088 | $ | 4,209 | $ | 214 | $ | 2,796 | $ | 202 | ||||||||||||
Purchased credit-impaired | 51 | 123 | 245 | 83 | 15 | |||||||||||||||||
Total other consumer | $ | 4,139 | $ | 4,332 | $ | 459 | $ | 2,879 | $ | 217 | ||||||||||||
Year Ended | ||||||||||||||||||||||
31-Dec-13 | 31-Dec-13 | |||||||||||||||||||||
Unpaid | Interest | |||||||||||||||||||||
Ending | Principal | Related | Average | Income | ||||||||||||||||||
(dollar amounts in thousands) | Balance | Balance (5) | Allowance | Balance | Recognized | |||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||
Commercial and Industrial: | ||||||||||||||||||||||
Owner occupied | $ | 5,332 | $ | 5,373 | $ | --- | $ | 4,473 | $ | 172 | ||||||||||||
Purchased credit-impaired | --- | --- | --- | --- | --- | |||||||||||||||||
Other commercial and industrial | 11,884 | 15,031 | --- | 13,117 | 640 | |||||||||||||||||
Total commercial and industrial | $ | 17,216 | $ | 20,404 | $ | --- | $ | 17,590 | $ | 812 | ||||||||||||
Commercial real estate: | ||||||||||||||||||||||
Retail properties | $ | 55,773 | $ | 64,780 | $ | --- | $ | 46,764 | $ | 2,450 | ||||||||||||
Multi family | --- | --- | --- | 3,627 | 220 | |||||||||||||||||
Office | 9,069 | 13,721 | --- | 12,151 | 1,161 | |||||||||||||||||
Industrial and warehouse | 9,682 | 10,803 | --- | 10,586 | 595 | |||||||||||||||||
Purchased credit-impaired | 82,073 | 154,869 | --- | 104,513 | 10,875 | |||||||||||||||||
Other commercial real estate | 6,002 | 6,924 | --- | 7,954 | 434 | |||||||||||||||||
Total commercial real estate | $ | 162,599 | $ | 251,097 | $ | --- | $ | 185,595 | $ | 15,735 | ||||||||||||
Automobile | $ | --- | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||||||
Home equity: | ||||||||||||||||||||||
Secured by first-lien | $ | --- | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||||||
Secured by junior-lien | --- | --- | --- | --- | --- | |||||||||||||||||
Total home equity | $ | --- | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||||||
Residential mortgage: | ||||||||||||||||||||||
Residential mortgage | $ | --- | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||||||
Purchased credit-impaired | --- | --- | --- | --- | --- | |||||||||||||||||
Total residential mortgage | $ | --- | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||||||
Other consumer: | ||||||||||||||||||||||
Other consumer | $ | --- | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||||||
Purchased credit-impaired | 129 | 219 | --- | 137 | 17 | |||||||||||||||||
Total other consumer | $ | 129 | $ | 219 | $ | --- | $ | 137 | $ | 17 | ||||||||||||
With an allowance recorded: | ||||||||||||||||||||||
Commercial and Industrial: (3) | ||||||||||||||||||||||
Owner occupied | $ | 40,271 | $ | 52,810 | $ | 3,421 | $ | 41,469 | $ | 1,390 | ||||||||||||
Purchased credit-impaired | 35,526 | 50,798 | 2,404 | 47,442 | 4,708 | |||||||||||||||||
Other commercial and industrial | 50,829 | 64,497 | 2,708 | 59,672 | 3,242 | |||||||||||||||||
Total commercial and industrial | $ | 126,626 | $ | 168,105 | $ | 8,533 | $ | 148,583 | $ | 9,340 | ||||||||||||
Commercial real estate: (4) | ||||||||||||||||||||||
Retail properties | $ | 72,339 | $ | 93,395 | $ | 5,984 | $ | 64,414 | $ | 1,936 | ||||||||||||
Multi family | 13,484 | 15,408 | 1,944 | 14,922 | 651 | |||||||||||||||||
Office | 50,307 | 54,921 | 9,927 | 48,113 | 1,808 | |||||||||||||||||
Industrial and warehouse | 9,162 | 10,561 | 808 | 15,322 | 541 | |||||||||||||||||
Purchased credit-impaired | --- | --- | --- | --- | --- | |||||||||||||||||
Other commercial real estate | 42,544 | 50,960 | 16,272 | 36,687 | 1,547 | |||||||||||||||||
Total commercial real estate | $ | 187,836 | $ | 225,245 | $ | 34,935 | $ | 179,458 | $ | 6,483 | ||||||||||||
Automobile | $ | 37,084 | $ | 38,758 | $ | 682 | $ | 39,861 | $ | 2,955 | ||||||||||||
Home equity: | ||||||||||||||||||||||
Secured by first-lien | $ | 110,024 | $ | 116,846 | $ | 2,396 | $ | 96,184 | $ | 4,116 | ||||||||||||
Secured by junior-lien | 98,957 | 143,967 | 5,607 | 65,986 | 3,379 | |||||||||||||||||
Total home equity | $ | 208,981 | $ | 260,813 | $ | 8,003 | $ | 162,170 | $ | 7,495 | ||||||||||||
Residential mortgage: | ||||||||||||||||||||||
Residential mortgage | $ | 387,937 | $ | 427,924 | $ | 10,555 | $ | 377,530 | $ | 11,752 | ||||||||||||
Purchased credit-impaired | 2,498 | 3,681 | 36 | 2,285 | 331 | |||||||||||||||||
Total residential mortgage | $ | 390,435 | $ | 431,605 | $ | 10,591 | $ | 379,815 | $ | 12,083 | ||||||||||||
Other consumer: | ||||||||||||||||||||||
Other consumer | $ | 1,041 | $ | 1,041 | $ | 136 | $ | 2,111 | $ | 116 | ||||||||||||
Purchased credit-impaired | --- | --- | --- | --- | --- | |||||||||||||||||
Total other consumer | $ | 1,041 | $ | 1,041 | $ | 136 | $ | 2,111 | $ | 116 | ||||||||||||
-1 | These tables do not include loans fully charged-off. | |||||||||||||||||||||
-2 | All automobile, home equity, residential mortgage, and other consumer impaired loans included in these tables are considered impaired due to their status as a TDR. | |||||||||||||||||||||
-3 | At December 31, 2014, $62,737 thousand of the $202,376 thousand C&I loans with an allowance recorded were considered impaired due to their status as a TDR. At December 31, 2013, $43,805 thousand of the $126,626 thousand C&I loans with an allowance recorded were considered impaired due to their status as a TDR. | |||||||||||||||||||||
-4 | At December 31, 2014, $27,423 thousand of the $144,162 thousand CRE loans with an allowance recorded were considered impaired due to their status as a TDR. At December 31, 2013, $24,805 thousand of the $187,836 thousand CRE loans with an allowance recorded were considered impaired due to their status as a TDR. | |||||||||||||||||||||
-5 | The differences between the ending balance and unpaid principal balance amounts represent partial charge-offs. | |||||||||||||||||||||
-6 | At December 31, 2014, $24,470 thousand of the $371,489 thousand residential mortgage loans with an allowance recorded were guaranteed by the U.S. government. At December 31, 2013, $49,225 thousand of the $390,435 thousand residential mortgage loans with an allowance recorded were guaranteed by the U.S. government. | |||||||||||||||||||||
TDR Loans | ||||||||||||||||||||||
TDRs are modified loans where a concession was provided to a borrower experiencing financial difficulties. Loan modifications are considered TDRs when the concessions provided are not available to the borrower through either normal channels or other sources. However, not all loan modifications are TDRs. | ||||||||||||||||||||||
The amount of interest that would have been recorded under the original terms for total accruing TDR loans was $45.0 million, $43.9 million, and $41.2 million for 2014, 2013, and 2012, respectively. The total amount of interest recorded to interest income for these loans was $38.6 million, $35.7 million, and $32.2 million for 2014, 2013, and 2012, respectively. | ||||||||||||||||||||||
TDR Concession Types | ||||||||||||||||||||||
The Company’s standards relating to loan modifications consider, among other factors, minimum verified income requirements, cash flow analysis, and collateral valuations. Each potential loan modification is reviewed individually and the terms of the loan are modified to meet a borrower’s specific circumstances at a point in time. All commercial TDRs are reviewed and approved by our SAD. The types of concessions provided to borrowers include: | ||||||||||||||||||||||
Interest rate reduction: A reduction of the stated interest rate to a nonmarket rate for the remaining original life of the debt. | ||||||||||||||||||||||
Amortization or maturity date change beyond what the collateral supports, including any of the following: | ||||||||||||||||||||||
Lengthens the amortization period of the amortized principal beyond market terms. This concession reduces the minimum monthly payment and increases the amount of the balloon payment at the end of the term of the loan. Principal is generally not forgiven. | ||||||||||||||||||||||
Reduces the amount of loan principal to be amortized and increases the amount of the balloon payment at the end of the term of the loan. This concession also reduces the minimum monthly payment. Principal is generally not forgiven. | ||||||||||||||||||||||
Extends the maturity date or dates of the debt beyond what the collateral supports. This concession generally applies to loans without a balloon payment at the end of the term of the loan. | ||||||||||||||||||||||
Chapter 7 bankruptcy: A bankruptcy court’s discharge of a borrower’s debt is considered a concession when the borrower does not reaffirm the discharged debt. | ||||||||||||||||||||||
Other: A concession that is not categorized as one of the concessions described above. These concessions include, but are not limited to: principal forgiveness, collateral concessions, covenant concessions, and reduction of accrued interest. Principal forgiveness may result from any TDR modification of any concession type. However, the aggregate amount of principal forgiven as a result of loans modified as TDRs during the years ended December 31, 2014 and 2013, was not significant. | ||||||||||||||||||||||
Following is a description of TDRs by the different loan types: | ||||||||||||||||||||||
Commercial loan TDRs – Commercial accruing TDRs often result from loans receiving a concession with terms that are not considered a market transaction to Huntington. The TDR remains in accruing status as long as the customer is less than 90-days past due on payments per the restructured loan terms and no loss is expected. | ||||||||||||||||||||||
Commercial nonaccrual TDRs result from either: (1) an accruing commercial TDR being placed on nonaccrual status, or (2) a workout where an existing commercial NAL is restructured and a concession was given. At times, these workouts restructure the NAL so that two or more new notes are created. The primary note is underwritten based upon our normal underwriting standards and is sized so projected cash flows are sufficient to repay contractual principal and interest. The terms on the secondary note(s) vary by situation, and may include notes that defer principal and interest payments until after the primary note is repaid. Creating two or more notes often allows the borrower to continue a project or weather a temporary economic downturn and allows Huntington to right-size a loan based upon the current expectations for a borrower’s or project’s performance. | ||||||||||||||||||||||
Our strategy involving TDR borrowers includes working with these borrowers to allow them to refinance elsewhere, as well as allow them time to improve their financial position and remain our customer through refinancing their notes according to market terms and conditions in the future. A subsequent refinancing or modification of a loan may occur when either the loan matures according to the terms of the TDR-modified agreement or the borrower requests a change to the loan agreements. At that time, the loan is evaluated to determine if it is creditworthy. It is subjected to the normal underwriting standards and processes for other similar credit extensions, both new and existing. The refinanced note is evaluated to determine if it is considered a new loan or a continuation of the prior loan. A new loan is considered for removal of the TDR designation, whereas a continuation of the prior note requires a continuation of the TDR designation. In order for a TDR designation to be removed, the borrower must no longer be experiencing financial difficulties and the terms of the refinanced loan must not represent a concession. | ||||||||||||||||||||||
Residential Mortgage loan TDRs – Residential mortgage TDRs represent loan modifications associated with traditional first-lien mortgage loans in which a concession has been provided to the borrower. The primary concessions given to residential mortgage borrowers are amortization or maturity date changes and interest rate reductions. Residential mortgages identified as TDRs involve borrowers unable to refinance their mortgages through the Company’s normal mortgage origination channels or through other independent sources. Some, but not all, of the loans may be delinquent. | ||||||||||||||||||||||
Automobile, Home Equity, and Other Consumer loan TDRs – The Company may make similar interest rate, term, and principal concessions as with residential mortgage loan TDRs. | ||||||||||||||||||||||
TDR Impact on Credit Quality | ||||||||||||||||||||||
Huntington’s ALLL is largely determined by updated risk ratings assigned to commercial loans, updated borrower credit scores on consumer loans, and borrower delinquency history in both the commercial and consumer portfolios. These updated risk ratings and credit scores consider the default history of the borrower, including payment redefaults. As such, the provision for credit losses is impacted primarily by changes in borrower payment performance rather than the TDR classification. TDRs can be classified as either accrual or nonaccrual loans. Nonaccrual TDRs are included in NALs whereas accruing TDRs are excluded from NALs as it is probable that all contractual principal and interest due under the restructured terms will be collected. | ||||||||||||||||||||||
Our TDRs may include multiple concessions and the disclosure classifications are presented based on the primary concession provided to the borrower. The majority of our concessions for the C&I and CRE portfolios are the extension of the maturity date coupled with an increase in the interest rate. In these instances, the primary concession is the maturity date extension. | ||||||||||||||||||||||
TDR concessions may also result in the reduction of the ALLL within the C&I and CRE portfolios. This reduction is derived from payments and the resulting application of the reserve calculation within the ALLL. The transaction reserve for non-TDR C&I and CRE loans is calculated based upon several estimated probability factors, such as PD and LGD, both of which were previously discussed. Upon the occurrence of a TDR in our C&I and CRE portfolios, the reserve is measured based on discounted expected cash flows or collateral value, less anticipated selling costs, of the modified loan in accordance with ASC 310-10. The resulting TDR ALLL calculation often results in a lower ALLL amount because (1) the discounted expected cash flows or collateral value, less anticipated selling costs, indicate a lower estimated loss, (2) if the modification includes a rate increase, the discounting of the cash flows on the modified loan, using the pre-modification interest rate, exceeds the carrying value of the loan, or (3) payments may occur as part of the modification. The ALLL for C&I and CRE loans may increase as a result of the modification, as the discounted cash flow analysis may indicate additional reserves are required. | ||||||||||||||||||||||
TDR concessions on consumer loans may increase the ALLL. The concessions made to these borrowers often include interest rate reductions, and therefore, the TDR ALLL calculation results in a greater ALLL compared with the non-TDR calculation as the reserve is measured based on the estimation of the discounted expected cash flows or collateral value, less anticipated selling costs, on the modified loan in accordance with ASC 310-10. The resulting TDR ALLL calculation often results in a higher ALLL amount because (1) the discounted expected cash flows or collateral value, less anticipated selling costs, indicate a higher estimated loss or, (2) due to the rate decrease, the discounting of the cash flows on the modified loan, using the pre-modification interest rate, indicates a reduction in the expected cash flows or collateral value, less anticipated selling costs. In certain instances, the ALLL may decrease as a result of payments made in connection with the modification. | ||||||||||||||||||||||
Commercial loan TDRs – In instances where the bank substantiates that it will collect its outstanding balance in full, the note is considered for return to accrual status upon the borrower sustaining sufficient cash flows for a six-month period of time. This six-month period could extend before or after the restructure date. If a charge-off was taken as part of the restructuring, any interest or principal payments received on that note are applied to first reduce the bank’s outstanding book balance and then to recoveries of charged-off principal, unpaid interest, and/or fee expenses while the TDR is in nonaccrual status. | ||||||||||||||||||||||
Residential Mortgage, Automobile, Home Equity, and Other Consumer loan TDRs – Modified loans identified as TDRs are aggregated into pools for analysis. Cash flows and weighted average interest rates are used to calculate impairment at the pooled-loan level. Once the loans are aggregated into the pool, they continue to be classified as TDRs until contractually repaid or charged-off. | ||||||||||||||||||||||
Residential mortgage loans not guaranteed by a U.S. government agency such as the FHA, VA, and the USDA, including TDR loans, are reported as accrual or nonaccrual based upon delinquency status. Nonaccrual TDRs are those that are greater than 150-days contractually past due. Loans guaranteed by U.S. government organizations continue to accrue interest upon delinquency. | ||||||||||||||||||||||
The following table presents by class and by the reason for the modification the number of contracts, post-modification outstanding balance, and the financial effects of the modification for the years ended December 31, 2014 and 2013: | ||||||||||||||||||||||
New Troubled Debt Restructurings During The Year Ended(1) | ||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||
Post-modification | ||||||||||||||||||||||
Outstanding | Post-modification | |||||||||||||||||||||
Number of | Ending | Financial effects | Number of | Outstanding | Financial effects | |||||||||||||||||
(dollar amounts in thousands) | Contracts | Balance | of modification(2) | Contracts | Balance | of modification(2) | ||||||||||||||||
C&I - Owner occupied:(3) | ||||||||||||||||||||||
Interest rate reduction | 19 | $ | 2,484 | $ | 20 | 22 | $ | 6,601 | $ | -466 | ||||||||||||
Amortization or maturity date change | 97 | 32,145 | 336 | 64 | 15,662 | -12 | ||||||||||||||||
Other | 7 | 2,051 | -36 | 16 | 7,367 | 337 | ||||||||||||||||
Total C&I - Owner occupied | 123 | $ | 36,680 | $ | 320 | 102 | $ | 29,630 | $ | -141 | ||||||||||||
C&I - Other commercial and industrial:(3) | ||||||||||||||||||||||
Interest rate reduction | 25 | $ | 50,534 | $ | -1,982 | 26 | $ | 75,447 | $ | -1,040 | ||||||||||||
Amortization or maturity date change | 285 | 149,339 | -2,407 | 120 | 53,340 | 1,295 | ||||||||||||||||
Other | 21 | 7,613 | -7 | 35 | 18,290 | -1,163 | ||||||||||||||||
Total C&I - Other commercial and industrial | 331 | $ | 207,486 | $ | -4,396 | 181 | $ | 147,077 | $ | -908 | ||||||||||||
CRE - Retail properties:(3) | ||||||||||||||||||||||
Interest rate reduction | 5 | $ | 11,381 | $ | 420 | 4 | $ | 1,116 | $ | -8 | ||||||||||||
Amortization or maturity date change | 24 | 27,415 | -267 | 21 | 27,550 | 4,159 | ||||||||||||||||
Other | 9 | 13,765 | -35 | 12 | 19,842 | -558 | ||||||||||||||||
Total CRE - Retail properties | 38 | $ | 52,561 | $ | 118 | 37 | $ | 48,508 | $ | 3,593 | ||||||||||||
CRE - Multi family:(3) | ||||||||||||||||||||||
Interest rate reduction | 20 | $ | 3,484 | $ | -75 | 10 | $ | 4,444 | $ | 7 | ||||||||||||
Amortization or maturity date change | 40 | 9,791 | 197 | 16 | 2,345 | 415 | ||||||||||||||||
Other | 8 | 5,016 | 57 | 5 | 8,085 | -2 | ||||||||||||||||
Total CRE - Multi family | 68 | $ | 18,291 | $ | 179 | 31 | $ | 14,874 | $ | 420 | ||||||||||||
CRE - Office:(3) | ||||||||||||||||||||||
Interest rate reduction | 2 | $ | 120 | $ | -1 | 7 | $ | 6,504 | $ | 1,656 | ||||||||||||
Amortization or maturity date change | 22 | 18,157 | -424 | 16 | 12,388 | 91 | ||||||||||||||||
Other | 5 | 35,476 | -3,153 | 6 | 7,044 | 655 | ||||||||||||||||
Total CRE - Office | 29 | $ | 53,753 | $ | -3,578 | 29 | $ | 25,936 | $ | 2,402 | ||||||||||||
CRE - Industrial and warehouse:(3) | ||||||||||||||||||||||
Interest rate reduction | 2 | $ | 4,046 | $ | --- | 1 | $ | 2,682 | $ | -476 | ||||||||||||
Amortization or maturity date change | 17 | 9,187 | 164 | 9 | 4,069 | -185 | ||||||||||||||||
Other | 1 | 977 | --- | 1 | 5,867 | --- | ||||||||||||||||
Total CRE - Industrial and Warehouse | 20 | $ | 14,210 | $ | 164 | 11 | $ | 12,618 | $ | -661 | ||||||||||||
CRE - Other commercial real estate:(3) | ||||||||||||||||||||||
Interest rate reduction | 8 | $ | 5,224 | $ | 146 | 19 | $ | 10,996 | $ | 96 | ||||||||||||
Amortization or maturity date change | 55 | 76,353 | -2,789 | 21 | 17,851 | 4,923 | ||||||||||||||||
Other | 4 | 1,809 | -127 | 13 | 9,735 | -101 | ||||||||||||||||
Total CRE - Other commercial real estate | 67 | $ | 83,386 | $ | -2,770 | 53 | $ | 38,582 | $ | 4,918 | ||||||||||||
Automobile:(3) | ||||||||||||||||||||||
Interest rate reduction | 92 | $ | 758 | $ | 15 | 14 | $ | 106 | $ | --- | ||||||||||||
Amortization or maturity date change | 1,880 | 12,120 | 151 | 1,659 | 9,420 | -76 | ||||||||||||||||
Chapter 7 bankruptcy | 625 | 4,938 | 66 | 1,313 | 7,748 | 301 | ||||||||||||||||
Other | --- | --- | --- | --- | --- | --- | ||||||||||||||||
Total Automobile | 2,597 | $ | 17,816 | $ | 232 | 2,986 | $ | 17,274 | $ | 225 | ||||||||||||
Residential mortgage:(3) | ||||||||||||||||||||||
Interest rate reduction | 27 | $ | 3,692 | $ | 19 | 65 | $ | 11,662 | $ | 3 | ||||||||||||
Amortization or maturity date change | 333 | 44,027 | 552 | 442 | 58,344 | 384 | ||||||||||||||||
Chapter 7 bankruptcy | 182 | 18,635 | 715 | 458 | 39,813 | 1,345 | ||||||||||||||||
Other | 5 | 526 | 5 | 17 | 1,837 | 39 | ||||||||||||||||
Total Residential mortgage | 547 | $ | 66,880 | $ | 1,291 | 982 | $ | 111,656 | $ | 1,771 | ||||||||||||
First-lien home equity:(3) | ||||||||||||||||||||||
Interest rate reduction | 193 | $ | 15,172 | $ | 764 | 134 | $ | 12,244 | $ | 1,149 | ||||||||||||
Amortization or maturity date change | 289 | 23,272 | -1,051 | 279 | 19,280 | -1,084 | ||||||||||||||||
Chapter 7 bankruptcy | 105 | 7,296 | 727 | 257 | 14,987 | 748 | ||||||||||||||||
Other | --- | --- | --- | --- | --- | --- | ||||||||||||||||
Total First-lien home equity | 587 | $ | 45,740 | $ | 440 | 670 | $ | 46,511 | $ | 813 | ||||||||||||
Junior-lien home equity:(3) | ||||||||||||||||||||||
Interest rate reduction | 187 | $ | 6,960 | $ | 296 | 25 | $ | 1,179 | $ | 190 | ||||||||||||
Amortization or maturity date change | 1,467 | 58,129 | -6,955 | 1,491 | 55,389 | -5,431 | ||||||||||||||||
Chapter 7 bankruptcy | 201 | 3,014 | 3,141 | 1,564 | 15,303 | 33,623 | ||||||||||||||||
Other | --- | --- | --- | --- | --- | --- | ||||||||||||||||
Total Junior-lien home equity | 1,855 | $ | 68,103 | $ | -3,518 | 3,080 | $ | 71,871 | $ | 28,382 | ||||||||||||
Other consumer:(3) | ||||||||||||||||||||||
Interest rate reduction | 7 | $ | 123 | $ | 3 | 5 | $ | 306 | $ | 48 | ||||||||||||
Amortization or maturity date change | 48 | 1,803 | 12 | 11 | 117 | 5 | ||||||||||||||||
Chapter 7 bankruptcy | 25 | 483 | -50 | 36 | 565 | 29 | ||||||||||||||||
Other | --- | --- | --- | --- | --- | --- | ||||||||||||||||
Total Other consumer | 80 | $ | 2,409 | $ | -35 | 52 | $ | 988 | $ | 82 | ||||||||||||
Total new troubled debt restructurings | 6,342 | $ | 667,315 | $ | -11,553 | 8,214 | $ | 565,525 | $ | 40,896 | ||||||||||||
-1 | TDRs may include multiple concessions and the disclosure classifications are based on the primary concession provided to the borrower. | |||||||||||||||||||||
-2 | Amounts represent the financial impact via provision (recovery) for loan and lease losses as a result of the modification. | |||||||||||||||||||||
-3 | Post-modification balances approximate pre-modification balances. The aggregate amount of charge-offs as a result of a restructuring are not significant. | |||||||||||||||||||||
Any loan within any portfolio or class is considered as payment redefaulted at 90-days past due. | ||||||||||||||||||||||
The following table presents TDRs that have redefaulted within one year of modification during the years ended December 31, 2014 and 2013: | ||||||||||||||||||||||
Troubled Debt Restructurings That Have Redefaulted | ||||||||||||||||||||||
Within One Year of Modification During The Year Ended | ||||||||||||||||||||||
December 31, 2014(1) | December 31, 2013(1) | |||||||||||||||||||||
(dollar amounts in thousands) | Number of | Ending | Number of | Ending | ||||||||||||||||||
Contracts | Balance | Contracts | Balance | |||||||||||||||||||
C&I - Owner occupied: | ||||||||||||||||||||||
Interest rate reduction | --- | $ | --- | --- | $ | --- | ||||||||||||||||
Amortization or maturity date change | 6 | 946 | 10 | 1,144 | ||||||||||||||||||
Other | 1 | 230 | 7 | 1,221 | ||||||||||||||||||
Total C&I - Owner occupied | 7 | $ | 1,176 | 17 | $ | 2,365 | ||||||||||||||||
C&I - Other commercial and industrial: | ||||||||||||||||||||||
Interest rate reduction | 1 | $ | 30 | --- | $ | --- | ||||||||||||||||
Amortization or maturity date change | 14 | 1,555 | 17 | 476 | ||||||||||||||||||
Other | 3 | 37 | --- | --- | ||||||||||||||||||
Total C&I - Other commercial and industrial | 18 | $ | 1,622 | 17 | $ | 476 | ||||||||||||||||
CRE - Retail Properties: | ||||||||||||||||||||||
Interest rate reduction | --- | $ | --- | 1 | $ | 302 | ||||||||||||||||
Amortization or maturity date change | 1 | 483 | 4 | 993 | ||||||||||||||||||
Other | --- | --- | 1 | 186 | ||||||||||||||||||
Total CRE - Retail properties | 1 | $ | 483 | 6 | $ | 1,481 | ||||||||||||||||
CRE - Multi family: | ||||||||||||||||||||||
Interest rate reduction | --- | $ | --- | --- | $ | --- | ||||||||||||||||
Amortization or maturity date change | 4 | 2,827 | 2 | 225 | ||||||||||||||||||
Other | 1 | 176 | --- | --- | ||||||||||||||||||
Total CRE - Multi family | 5 | $ | 3,003 | 2 | $ | 225 | ||||||||||||||||
CRE - Office: | ||||||||||||||||||||||
Interest rate reduction | --- | $ | --- | --- | $ | --- | ||||||||||||||||
Amortization or maturity date change | 3 | 1,738 | 2 | 1,131 | ||||||||||||||||||
Other | --- | --- | --- | --- | ||||||||||||||||||
Total CRE - Office | 3 | $ | 1,738 | 2 | $ | 1,131 | ||||||||||||||||
CRE - Industrial and Warehouse: | ||||||||||||||||||||||
Interest rate reduction | 1 | $ | 1,339 | --- | $ | --- | ||||||||||||||||
Amortization or maturity date change | 1 | 756 | 1 | 361 | ||||||||||||||||||
Other | --- | --- | 1 | 726 | ||||||||||||||||||
Total CRE - Industrial and Warehouse | 2 | $ | 2,095 | 2 | $ | 1,087 | ||||||||||||||||
CRE - Other commercial real estate: | ||||||||||||||||||||||
Interest rate reduction | 1 | $ | 169 | --- | $ | --- | ||||||||||||||||
Amortization or maturity date change | 2 | 758 | 4 | 774 | ||||||||||||||||||
Other | --- | --- | 1 | 5 | ||||||||||||||||||
Total CRE - Other commercial real estate | 3 | $ | 927 | 5 | $ | 779 | ||||||||||||||||
Automobile: | ||||||||||||||||||||||
Interest rate reduction | --- | $ | --- | 1 | $ | 112 | ||||||||||||||||
Amortization or maturity date change | 40 | 328 | 37 | 380 | ||||||||||||||||||
Chapter 7 bankruptcy | 53 | 374 | 137 | 617 | ||||||||||||||||||
Other | --- | --- | --- | --- | ||||||||||||||||||
Total Automobile | 93 | $ | 702 | 175 | $ | 1,109 | ||||||||||||||||
Residential mortgage: | ||||||||||||||||||||||
Interest rate reduction | 11 | $ | 1,516 | 4 | $ | 424 | ||||||||||||||||
Amortization or maturity date change | 82 | 8,974 | 78 | 11,263 | ||||||||||||||||||
Chapter 7 bankruptcy | 37 | 3,187 | 71 | 6,647 | ||||||||||||||||||
Other | --- | --- | 2 | 418 | ||||||||||||||||||
Total Residential mortgage | 130 | $ | 13,677 | 155 | $ | 18,752 | ||||||||||||||||
First-lien home equity: | ||||||||||||||||||||||
Interest rate reduction | 5 | $ | 335 | 1 | $ | 87 | ||||||||||||||||
Amortization or maturity date change | 16 | 2,109 | 6 | 629 | ||||||||||||||||||
Chapter 7 bankruptcy | 16 | 1,005 | 16 | 1,235 | ||||||||||||||||||
Other | --- | --- | --- | --- | ||||||||||||||||||
Total First-lien home equity | 37 | $ | 3,449 | 23 | $ | 1,951 | ||||||||||||||||
Junior-lien home equity: | ||||||||||||||||||||||
Interest rate reduction | 1 | $ | 11 | 1 | $ | --- | ||||||||||||||||
Amortization or maturity date change | 31 | 1,841 | 9 | 478 | ||||||||||||||||||
Chapter 7 bankruptcy | 39 | 620 | 40 | 718 | ||||||||||||||||||
Other | --- | --- | --- | --- | ||||||||||||||||||
Total Junior-lien home equity | 71 | $ | 2,472 | 50 | $ | 1,196 | ||||||||||||||||
Other consumer: | ||||||||||||||||||||||
Interest rate reduction | --- | $ | --- | --- | $ | --- | ||||||||||||||||
Amortization or maturity date change | --- | --- | --- | --- | ||||||||||||||||||
Chapter 7 bankruptcy | --- | --- | 3 | 96 | ||||||||||||||||||
Other | --- | --- | --- | --- | ||||||||||||||||||
Total Other consumer | --- | $ | --- | 3 | $ | 96 | ||||||||||||||||
Total troubled debt restructurings with subsequent redefault | 370 | $ | 31,344 | 457 | $ | 30,648 | ||||||||||||||||
-1 | Subsequent redefault is defined as a payment redefault within 12 months of the restructuring date. Payment redefault is defined as 90-days past due for any loan in any portfolio or class. Any loan in any portfolio may be considered to be in payment redefault prior to the guidelines noted above when collection of principal or interest is in doubt. | |||||||||||||||||||||
Pledged Loans and Leases | ||||||||||||||||||||||
The Bank has access to the Federal Reserve’s discount window and advances from the FHLB – Cincinnati. At December 31, 2014, these borrowings and advances are secured by $18.0 billion of loans. |
Available_forSale_and_Other_Se
Available for-Sale and Other Securities | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Securities [Abstract] | |||||||||||||||||||
AVAILABLE-FOR-SALE AND OTHER SECURITIES | 4. AVAILABLE-FOR-SALE AND OTHER Securities | ||||||||||||||||||
Contractual maturities of available-for-sale and other securities as of December 31, 2014 and 2013 were: | |||||||||||||||||||
2014 | 2013 | ||||||||||||||||||
Amortized | Fair | Amortized | Fair | ||||||||||||||||
(dollar amounts in thousands) | Cost | Value | Cost | Value | |||||||||||||||
Under 1 year | $ | 355,486 | $ | 355,465 | $ | 263,366 | $ | 262,752 | |||||||||||
1 - 5 years | 1,047,492 | 1,066,041 | 1,665,644 | 1,697,234 | |||||||||||||||
6 - 10 years | 1,517,974 | 1,527,195 | 1,440,056 | 1,433,303 | |||||||||||||||
Over 10 years | 6,090,688 | 6,086,980 | 3,662,328 | 3,577,502 | |||||||||||||||
Other securities: | |||||||||||||||||||
Nonmarketable equity securities | 331,559 | 331,559 | 320,991 | 320,991 | |||||||||||||||
Marketable equity securities | 16,687 | 17,430 | 16,522 | 16,971 | |||||||||||||||
Total available-for-sale and other securities | $ | 9,359,886 | $ | 9,384,670 | $ | 7,368,907 | $ | 7,308,753 | |||||||||||
Other securities at December 31, 2014 and 2013 include nonmarketable equity securities of $157.0 million and $165.6 million of stock issued by the FHLB of Cincinnati, and $174.5 million and $155.4 million of Federal Reserve Bank stock, respectively. Nonmarketable equity securities are recorded at amortized cost. Other securities also include marketable equity securities. | |||||||||||||||||||
The following tables provide amortized cost, fair value, and gross unrealized gains and losses recognized in OCI by investment category at December 31, 2014 and 2013 | |||||||||||||||||||
Unrealized | |||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||
(dollar amounts in thousands) | Cost | Gains | Losses | Value | |||||||||||||||
31-Dec-14 | |||||||||||||||||||
U.S. Treasury | $ | 5,435 | $ | 17 | $ | --- | $ | 5,452 | |||||||||||
Federal agencies: | |||||||||||||||||||
Mortgage-backed securities | 5,273,899 | 63,906 | -15,104 | 5,322,701 | |||||||||||||||
Other agencies | 349,715 | 2,871 | -1,043 | 351,543 | |||||||||||||||
Total U.S. Treasury and Federal agency securities | 5,629,049 | 66,794 | -16,147 | 5,679,696 | |||||||||||||||
Municipal securities | 1,841,311 | 37,398 | -10,140 | 1,868,569 | |||||||||||||||
Private-label CMO | 43,730 | 1,116 | -2,920 | 41,926 | |||||||||||||||
Asset-backed securities | 1,014,999 | 2,061 | -61,062 | 955,998 | |||||||||||||||
Corporate debt securities | 479,151 | 9,442 | -2,417 | 486,176 | |||||||||||||||
Other securities | 351,646 | 743 | -84 | 352,305 | |||||||||||||||
Total available-for-sale and other securities | $ | 9,359,886 | $ | 117,554 | $ | -92,770 | $ | 9,384,670 | |||||||||||
Unrealized | |||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||
(dollar amounts in thousands) | Cost | Gains | Losses | Value | |||||||||||||||
31-Dec-13 | |||||||||||||||||||
U.S. Treasury | $ | 51,301 | $ | 303 | $ | --- | $ | 51,604 | |||||||||||
Federal agencies: | |||||||||||||||||||
Mortgage-backed securities | 3,562,444 | 42,319 | -38,542 | 3,566,221 | |||||||||||||||
Other agencies | 313,877 | 6,105 | -94 | 319,888 | |||||||||||||||
Total U.S. Treasury and Federal agency securities | 3,927,622 | 48,727 | -38,636 | 3,937,713 | |||||||||||||||
Municipal securities (1) | 1,140,263 | 18,825 | -13,096 | 1,145,992 | |||||||||||||||
Private-label CMO | 51,238 | 1,188 | -3,322 | 49,104 | |||||||||||||||
Asset-backed securities | 1,172,284 | 6,771 | -88,015 | 1,091,040 | |||||||||||||||
Covered bonds | 280,595 | 5,279 | --- | 285,874 | |||||||||||||||
Corporate debt securities | 455,493 | 11,241 | -9,494 | 457,240 | |||||||||||||||
Other securities | 341,412 | 511 | -133 | 341,790 | |||||||||||||||
Total available-for-sale and other securities | $ | 7,368,907 | $ | 92,542 | $ | -152,696 | $ | 7,308,753 | |||||||||||
(1) Effective December 31, 2013 approximately $600.4 million of direct purchase municipal instruments were reclassified from C&I loans to available-for-sale securities. | |||||||||||||||||||
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 at December 31, 2014 and 2013: | |||||||||||||||||||
Less than 12 Months | Over 12 Months | Total | |||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||
(dollar amounts in thousands ) | Value | Losses | Value | Losses | Value | Losses | |||||||||||||
31-Dec-14 | |||||||||||||||||||
Federal Agencies: | |||||||||||||||||||
Mortgage-backed securities | $ | 501,858 | $ | -1,909 | $ | 527,280 | $ | -13,195 | $ | 1,029,138 | $ | -15,104 | |||||||
Other agencies | 159,708 | -1,020 | 1,281 | -23 | 160,989 | -1,043 | |||||||||||||
Total Federal agency securities | 661,566 | -2,929 | 528,561 | -13,218 | 1,190,127 | -16,147 | |||||||||||||
Municipal securities | 568,619 | -9,127 | 96,426 | -1,013 | 665,045 | -10,140 | |||||||||||||
Private label CMO | --- | --- | 22,650 | -2,920 | 22,650 | -2,920 | |||||||||||||
Asset-backed securities | 157,613 | -641 | 325,691 | -60,421 | 483,304 | -61,062 | |||||||||||||
Corporate debt securities | 49,562 | -252 | 88,398 | -2,165 | 137,960 | -2,417 | |||||||||||||
Other securities | --- | --- | 1,416 | -84 | 1,416 | -84 | |||||||||||||
Total temporarily impaired securities | $ | 1,437,360 | $ | -12,949 | $ | 1,063,142 | $ | -79,821 | $ | 2,500,502 | $ | -92,770 | |||||||
Less than 12 Months | Over 12 Months | Total | |||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||
(dollar amounts in thousands ) | Value | Losses | Value | Losses | Value | Losses | |||||||||||||
31-Dec-13 | |||||||||||||||||||
Federal Agencies | |||||||||||||||||||
Mortgage-backed securities | $ | 1,628,454 | $ | -37,174 | $ | 12,682 | $ | -1,368 | $ | 1,641,136 | $ | -38,542 | |||||||
Other agencies | 2,069 | -94 | --- | --- | 2,069 | -94 | |||||||||||||
Total Federal agency securities | 1,630,523 | -37,268 | 12,682 | -1,368 | 1,643,205 | -38,636 | |||||||||||||
Municipal securities | 551,114 | -12,395 | 7,531 | -701 | 558,645 | -13,096 | |||||||||||||
Private label CMO | --- | --- | 22,639 | -3,322 | 22,639 | -3,322 | |||||||||||||
Asset-backed securities | 391,665 | -9,720 | 107,419 | -78,295 | 499,084 | -88,015 | |||||||||||||
Corporate debt securities | 146,308 | -7,729 | 26,155 | -1,765 | 172,463 | -9,494 | |||||||||||||
Other securities | 3,078 | -72 | 2,530 | -61 | 5,608 | -133 | |||||||||||||
Total temporarily impaired securities | $ | 2,722,688 | $ | -67,184 | $ | 178,956 | $ | -85,512 | $ | 2,901,644 | $ | -152,696 | |||||||
At December 31, 2014, 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 $3.6 billion. There were no securities of a single issuer, which are not governmental or government-sponsored, that exceeded 10% of shareholders’ equity at December 31, 2014. | |||||||||||||||||||
The following table is a summary of realized securities gains and losses for the years ended December 31, 2014, 2013, and 2012: | |||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | ||||||||||||||||
Gross gains on sales of securities | $ | 17,729 | $ | 2,932 | $ | 8,612 | |||||||||||||
Gross (losses) on sales of securities | -175 | -712 | -2,224 | ||||||||||||||||
Net gain (loss) on sales of securities | $ | 17,554 | $ | 2,220 | $ | 6,388 | |||||||||||||
Collateralized Debt Obligations and Private-Label CMO Securities | |||||||||||||||||||
Our highest risk segments of our investment portfolio are the CDO and 2003-2006 vintage private-label CMO portfolios. Of the $41.9 million private-label CMO securities reported at fair value at December 31, 2014, approximately $20.3 million are rated below investment grade. The CDOs are in the asset-backed securities portfolio. These segments are in run-off, and we have not purchased these types of securities since 2008. The performance of the underlying securities in each of these segments reflects the deterioration of CDO issuers and 2003 to 2006 non-agency mortgages. Each of these securities in these two segments is subjected to a rigorous review of its projected cash flows. These reviews are supported with analysis from independent third parties. | |||||||||||||||||||
The following table presents the credit ratings for our CDO and private label CMO securities as of December 31, 2014 and 2013: | |||||||||||||||||||
Credit Ratings of Selected Investment Securities | |||||||||||||||||||
(dollar amounts in thousands) | Average Credit Rating of Fair Value Amount (1) | ||||||||||||||||||
Amortized | |||||||||||||||||||
Cost | Fair Value | AAA | AA +/- | A +/- | BBB +/- | <BBB- | |||||||||||||
Private-label CMO securities | $ | 43,730 | $ | 41,926 | $ | 11,461 | $ | --- | $ | --- | $ | 10,161 | $ | 20,304 | |||||
Collateralized debt obligations | 139,194 | 82,738 | --- | --- | --- | --- | 82,738 | ||||||||||||
Total at December 31, 2014 | $ | 182,924 | $ | 124,664 | $ | 11,461 | $ | --- | $ | --- | $ | 10,161 | $ | 103,042 | |||||
Total at December 31, 2013 | $ | 212,968 | $ | 133,240 | $ | 16,964 | $ | --- | $ | 17,855 | $ | 11,785 | $ | 86,636 | |||||
-1 | Credit ratings reflect the lowest current rating assigned by a nationally recognized credit rating agency. | ||||||||||||||||||
Beginning January 1, 2015, the credit ratings of our private label CMO and CDO securities will no longer be used to determine risk weighting for regulatory capital purposes. Private label CMO and CDO securities will be subject to the Simplified Supervisory Formula Approach (SSFA) for risk weighting under BASEL III. | |||||||||||||||||||
The fair values of the private label CMO and CDO assets have been impacted by various market conditions. The unrealized losses were primarily the result of wider liquidity spreads on asset-backed securities and increased market volatility on non-agency mortgage and asset-backed securities that are collateralized by certain mortgage loans. In addition, the expected average lives of the asset-backed securities backed by trust-preferred securities have been extended, due to changes in the expectations of when the underlying securities would be repaid. The contractual terms and / or cash flows of the investments do not permit the issuer to settle the securities at a price less than the amortized cost. Huntington does not intend to sell, nor does it believe it will be required to sell these securities until the fair value is recovered, which may be maturity, and therefore, does not consider them to be other-than-temporarily impaired at December 31, 2014. | |||||||||||||||||||
The following table summarizes the relevant characteristics of our CDO securities portfolio, which are included in asset-backed securities, at December 31, 2014 and 2013. Each security is part of a pool of issuers and supports a more senior tranche of securities except for the MM Comm III securities which are the most senior class. | |||||||||||||||||||
Collateralized Debt Obligation Securities Data | |||||||||||||||||||
(dollar amounts in thousands) | Actual | ||||||||||||||||||
Deferrals | Expected | ||||||||||||||||||
and | Defaults | ||||||||||||||||||
# of Issuers | Defaults | as a % of | |||||||||||||||||
Lowest | Currently | as a % of | Remaining | ||||||||||||||||
Amortized | Fair | Unrealized | Credit | Performing/ | Original | Performing | Excess | ||||||||||||
Deal Name | Par Value | Cost | Value | Loss (2) | Rating (3) | Remaining (4) | Collateral | Collateral | Subordination (5) | ||||||||||
Alesco II (1) | $ | 41,646 | $ | 28,834 | $ | 16,758 | $ | -12,076 | C | 30/33 | 8 | % | 7 | % | --- | % | |||
ICONS | 19,837 | 19,837 | 15,786 | -4,051 | BB | 19/21 | 7 | 15 | 57 | ||||||||||
MM Comm III | 5,584 | 5,335 | 4,418 | -917 | BB | 9-May | 5 | 9 | 31 | ||||||||||
Pre TSL IX | 5,000 | 3,955 | 2,403 | -1,552 | C | 28/40 | 19 | 9 | 4 | ||||||||||
Pre TSL XI (1) | 25,000 | 20,632 | 12,248 | -8,384 | C | 43/56 | 16 | 9 | 8 | ||||||||||
Pre TSL XIII (1) | 27,530 | 20,252 | 13,302 | -6,950 | C | 44/58 | 16 | 16 | 13 | ||||||||||
Reg Diversified (1) | 25,500 | 6,908 | 1,142 | -5,766 | D | 23/41 | 38 | 9 | --- | ||||||||||
Soloso (1) | 12,500 | 2,440 | 368 | -2,072 | C | 38/61 | 29 | 18 | --- | ||||||||||
Tropic III | 31,000 | 31,001 | 16,313 | -14,688 | CCC+ | 28/40 | 21 | 8 | 37 | ||||||||||
Total at December 31, 2014 | $ | 193,597 | $ | 139,194 | $ | 82,738 | $ | -56,456 | |||||||||||
Total at December 31, 2013 | $ | 214,419 | $ | 161,730 | $ | 84,136 | $ | -77,594 | |||||||||||
-1 | Security was determined to have OTTI. As such, the book value is net of recorded credit impairment. | ||||||||||||||||||
-2 | The majority of securities have been in a continuous loss position for 12 months or longer. | ||||||||||||||||||
-3 | For purposes of comparability, the lowest credit rating expressed is equivalent to Fitch ratings even where the lowest rating is based on another nationally recognized credit rating agency. | ||||||||||||||||||
-4 | Includes both banks and/or insurance companies. | ||||||||||||||||||
-5 | Excess subordination percentage represents the additional defaults in excess of both current and projected defaults that the CDO can absorb before the bond experiences credit impairment. Excess subordinated percentage is calculated by (a) determining what percentage of defaults a deal can experience before the bond has credit impairment, and (b) subtracting from this default breakage percentage both total current and expected future default percentages. | ||||||||||||||||||
Security Impairment | |||||||||||||||||||
Huntington evaluated OTTI on the debt security types listed below. | |||||||||||||||||||
Alt-A mortgage-backed and private-label CMO securities are collateralized by first-lien residential mortgage loans. The securities valuation methodology incorporates values obtained from a third party pricing specialist using a discounted cash flow approach and a proprietary pricing model and includes assumptions management believes market participants would use to value the securities under current market conditions. The model uses inputs such as estimated prepayment speeds, losses, recoveries, default rates that are implied by the underlying performance of collateral in the structure or similar structures, house price depreciation / appreciation rates that are based upon macroeconomic forecasts and discount rates that are implied by market prices for similar securities with similar collateral structures. The remaining Alt-A mortgage backed securities were sold during the third quarter 2014. | |||||||||||||||||||
Collateralized Debt Obligations are CDOs backed by a pool of debt securities issued by financial institutions. The collateral generally consists of trust-preferred securities and subordinated debt securities issued by banks, bank holding companies, and insurance companies. A full cash flow analysis is used to estimate fair values and assess impairment for each security within this portfolio. A third-party pricing specialist with direct industry experience in pooled-trust-preferred security evaluations is engaged to provide assistance estimating the fair value and expected cash flows on this portfolio. The full cash flow analysis is completed by evaluating the relevant credit and structural aspects of each pooled-trust-preferred security in the portfolio, including collateral performance projections for each piece of collateral in the security and terms of the security’s structure. The credit review includes an analysis of profitability, credit quality, operating efficiency, leverage, and liquidity using available financial and regulatory information for each underlying collateral issuer. The analysis also includes a review of historical industry default data, current/near term operating conditions, and the impact of macroeconomic and regulatory changes. Using the results of our analysis, we estimate appropriate default and recovery probabilities for each piece of collateral then estimate the expected cash flows for each security. The cumulative probability of default ranges from a low of 2% to 100%. | |||||||||||||||||||
Many collateral issuers have the option of deferring interest payments on their debt for up to five years. For issuers who are deferring interest, assumptions are made regarding the issuers ability to resume interest payments and make the required principal payment at maturity; the cumulative probability of default for these issuers currently ranges from 30% to 100%, and a 10% recovery assumption. The fair value of each security is obtained by discounting the expected cash flows at a market discount rate, ranging from LIBOR plus 4.3% to LIBOR plus 13.3% as of December 31, 2014. The market discount rate is determined by reference to yields observed in the market for similarly rated collateralized debt obligations, specifically high-yield collateralized loan obligations. The relatively high market discount rate is reflective of the uncertainty of the cash flows and illiquid nature of these securities. The large differential between the fair value and amortized cost of some of the securities reflects the high market discount rate and the expectation that the majority of the cash flows will not be received until near the final maturity of the security (the final maturities range from 2032 to 2035). | |||||||||||||||||||
On December 10, 2013, the Federal Reserve, the OCC, the FDIC, the CFTC and the SEC issued final rules to implement the Volcker Rule contained in section 619 of the Dodd-Frank Act, generally to become effective on July 21, 2015. The Volcker Rule prohibits an insured depository institution and its affiliates (referred to as “banking entities”) from: (i) engaging in “proprietary trading” and (ii) investing in or sponsoring certain types of funds (“covered funds”) subject to certain limited exceptions. These prohibitions impact the ability of U.S. banking entities to provide investment management products and services that are competitive with nonbanking firms generally and with non-U.S. banking organizations in overseas markets. The rule also effectively prohibits short-term trading strategies by any U.S. banking entity if those strategies involve instruments other than those specifically permitted for trading. | |||||||||||||||||||
On January 14, 2014, the five federal agencies approved an interim final rule to permit banking entities to retain interests in certain collateralized debt obligations backed primarily by trust preferred securities from the investment prohibitions of section 619 of the Volcker Rule. Under the interim final rule, the agencies permit the retention of an interest in or sponsorship of covered funds by banking entities if certain qualifications are met. In addition, the agencies released a non-exclusive list of issuers that meet the requirements of the interim final rule. At December 31, 2014, we had investments in nine different pools of trust preferred securities. Eight of our pools are included in the list of non-exclusive issuers. We have analyzed the ICONS pool that was not included on the list and believe that it is more likely than not that we will be able to hold the ICONS security to recovery under the final Volcker Rule regulations. | |||||||||||||||||||
For the periods ended December 31, 2014, 2013 and 2012, the following table summarizes by security type, the total OTTI losses recognized in the Consolidated Statements of Income for securities evaluated for impairment as described above: | |||||||||||||||||||
Year ended December 31, | |||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | ||||||||||||||||
Available-for-sale and other securities: | |||||||||||||||||||
Collateralized Debt Obligations | --- | -1,466 | --- | ||||||||||||||||
Private label CMO | --- | -336 | -1,614 | ||||||||||||||||
Total debt securities | --- | -1,802 | -1,614 | ||||||||||||||||
Equity securities | --- | --- | -5 | ||||||||||||||||
Total available-for-sale and other securities | $ | --- | $ | -1,802 | $ | -1,619 | |||||||||||||
The following table rolls forward the OTTI recognized in earnings on debt securities held by Huntington for the years ended December 31, 2014 and 2013 as follows: | |||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | |||||||||||||||||
Balance, beginning of year | $ | 30,869 | $ | 49,433 | |||||||||||||||
Reductions from sales | --- | -20,366 | |||||||||||||||||
Credit losses not previously recognized | --- | --- | |||||||||||||||||
Additional credit losses | --- | 1,802 | |||||||||||||||||
Balance, end of year | $ | 30,869 | $ | 30,869 | |||||||||||||||
As of December 31, 2014, Management has evaluated other available-for-sale and other securities, including those with unrealized losses and all nonmarketable equity securities for impairment and concluded no OTTI is required. |
Held_to_Maturity_Securities
Held to Maturity Securities | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Held to Maturity Securities [Abstract] | |||||||||||||||||||
HELD-TO-MATURITY SECURITIES | 5. HELD-TO-MATURITY Securities | ||||||||||||||||||
These are debt securities that Huntington has the intent and ability to hold until maturity. The debt securities are carried at amortized cost and adjusted for amortization of premiums and accretion of discounts using the interest method. | |||||||||||||||||||
During 2013, Huntington transferred $292.2 million of federal agencies, mortgage-backed securities and other agency securities from the available-for-sale securities portfolio to the held-to-maturity securities portfolio. At the time of the transfer, no unrealized net gains were recognized in OCI. | |||||||||||||||||||
Listed below are the contractual maturities (under 1 year, 1-5 years, 6-10 years, and over 10 years) of held-to-maturity securities at December 31, 2014 and 2013: | |||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||
Amortized | Fair | Amortized | |||||||||||||||||
(dollar amounts in thousands) | Cost | Value | Cost | Fair Value | |||||||||||||||
Federal agencies: mortgage-backed securities: | |||||||||||||||||||
Under 1 year | $ | --- | $ | --- | $ | --- | $ | --- | |||||||||||
1-5 years | --- | --- | --- | --- | |||||||||||||||
6-10 years | 24,901 | 24,263 | 24,901 | 22,549 | |||||||||||||||
Over 10 years | 3,136,460 | 3,140,194 | 3,574,156 | 3,506,018 | |||||||||||||||
Total Federal agencies: mortgage-backed securities | 3,161,361 | 3,164,457 | 3,599,057 | 3,528,567 | |||||||||||||||
Other agencies: | |||||||||||||||||||
Under 1 year | --- | --- | --- | --- | |||||||||||||||
1-5 years | --- | --- | --- | --- | |||||||||||||||
6-10 years | 54,010 | 54,843 | 38,588 | 39,075 | |||||||||||||||
Over 10 years | 156,553 | 155,821 | 189,999 | 185,097 | |||||||||||||||
Total other agencies | 210,563 | 210,664 | 228,587 | 224,172 | |||||||||||||||
Total U.S. Government backed agencies | 3,371,924 | 3,375,121 | 3,827,644 | 3,752,739 | |||||||||||||||
Municipal securities: | |||||||||||||||||||
Under 1 year | --- | --- | --- | --- | |||||||||||||||
1-5 years | --- | --- | --- | --- | |||||||||||||||
6-10 years | --- | --- | --- | --- | |||||||||||||||
Over 10 years | 7,981 | 7,594 | 9,023 | 8,159 | |||||||||||||||
Total municipal securities | 7,981 | 7,594 | 9,023 | 8,159 | |||||||||||||||
Total held-to-maturity securities | $ | 3,379,905 | $ | 3,382,715 | $ | 3,836,667 | $ | 3,760,898 | |||||||||||
The following table provides amortized cost, gross unrealized gains and losses, and fair value by investment category at December 31, 2014 and 2013: | |||||||||||||||||||
Unrealized | |||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||
(dollar amounts in thousands) | Cost | Gains | Losses | Value | |||||||||||||||
31-Dec-14 | |||||||||||||||||||
Federal Agencies: | |||||||||||||||||||
Mortgage-backed securities | $ | 3,161,361 | $ | 24,832 | $ | -21,736 | $ | 3,164,457 | |||||||||||
Other agencies | 210,563 | 1,251 | -1,150 | 210,664 | |||||||||||||||
Total U.S. Government | |||||||||||||||||||
backed securities | 3,371,924 | 26,083 | -22,886 | 3,375,121 | |||||||||||||||
Municipal securities | 7,981 | --- | -387 | 7,594 | |||||||||||||||
Total held-to-maturity securities | $ | 3,379,905 | $ | 26,083 | $ | -23,273 | $ | 3,382,715 | |||||||||||
Unrealized | |||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||
(dollar amounts in thousands) | Cost | Gains | Losses | Value | |||||||||||||||
31-Dec-13 | |||||||||||||||||||
Federal Agencies: | |||||||||||||||||||
Mortgage-backed securities | $ | 3,599,057 | $ | 5,573 | $ | -76,063 | $ | 3,528,567 | |||||||||||
Other agencies | 228,587 | 776 | -5,191 | 224,172 | |||||||||||||||
Total U.S. Government | |||||||||||||||||||
backed securities | 3,827,644 | 6,349 | -81,254 | 3,752,739 | |||||||||||||||
Municipal securities | 9,023 | --- | -864 | 8,159 | |||||||||||||||
Total held-to-maturity securities | $ | 3,836,667 | $ | 6,349 | $ | -82,118 | $ | 3,760,898 | |||||||||||
The following tables provide detail on HTM securities with unrealized losses aggregated by investment category and the length of time the individual securities have been in a continuous loss position at December 31, 2014 and 2013: | |||||||||||||||||||
Less than 12 Months | Over 12 Months | Total | |||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||
(dollar amounts in thousands ) | Value | Losses | Value | Losses | Value | Losses | |||||||||||||
31-Dec-14 | |||||||||||||||||||
Federal Agencies: | |||||||||||||||||||
Mortgage-backed securities | $ | 707,934 | $ | -5,550 | $ | 622,026 | $ | -16,186 | $ | 1,329,960 | $ | -21,736 | |||||||
Other agencies | 36,956 | -198 | 71,731 | -952 | 108,687 | -1,150 | |||||||||||||
Total U.S. Government backed securities | 744,890 | -5,748 | 693,757 | -17,138 | 1,438,647 | -22,886 | |||||||||||||
Municipal securities | 7,594 | -387 | --- | --- | 7,594 | -387 | |||||||||||||
Total temporarily impaired securities | $ | 752,484 | $ | -6,135 | $ | 693,757 | $ | -17,138 | $ | 1,446,241 | $ | -23,273 | |||||||
Less than 12 Months | Over 12 Months | Total | |||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||
(dollar amounts in thousands ) | Value | Losses | Value | Losses | Value | Losses | |||||||||||||
31-Dec-13 | |||||||||||||||||||
Federal Agencies: | |||||||||||||||||||
Mortgage-backed securities | $ | 2,849,198 | $ | -73,711 | $ | 22,548 | $ | -2,352 | $ | 2,871,746 | $ | -76,063 | |||||||
Other agencies | 144,417 | -5,191 | --- | --- | 144,417 | -5,191 | |||||||||||||
Total U.S. Government backed securities | 2,993,615 | -78,902 | 22,548 | -2,352 | 3,016,163 | -81,254 | |||||||||||||
Municipal securities | 8,159 | -864 | --- | --- | 8,159 | -864 | |||||||||||||
Total temporarily impaired securities | $ | 3,001,774 | $ | -79,766 | $ | 22,548 | $ | -2,352 | $ | 3,024,322 | $ | -82,118 | |||||||
Security Impairment | |||||||||||||||||||
Huntington evaluates the held-to-maturity securities portfolio on a quarterly basis for impairment. Impairment would exist when the present value of the expected cash flows is not sufficient to recover the entire amortized cost basis at the balance sheet date. Under these circumstances, any impairment would be recognized in earnings. As of December 31, 2014, Management has evaluated held-to-maturity securities with unrealized losses for impairment and concluded no OTTI is required. |
Loan_Sales_and_Securitizations
Loan Sales and Securitizations | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Loan Sales and Securitizations [Abstract] | |||||||||||||||||||
LOAN SALES AND SECURITIZATIONS | 6. Loan sales and Securitizations | ||||||||||||||||||
Residential Mortgage Portfolio | |||||||||||||||||||
The following table summarizes activity relating to residential mortgage loans sold with servicing retained for the years ended December 31, 2014, 2013, and 2012: | |||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | ||||||||||||||||
Residential mortgage loans sold with servicing retained | $ | 2,330,060 | $ | 3,221,239 | $ | 3,954,762 | |||||||||||||
Pretax gains resulting from above loan sales (1) | 57,590 | 102,935 | 128,408 | ||||||||||||||||
-1 | Recorded in mortgage banking income. | ||||||||||||||||||
The following tables summarize the changes in MSRs recorded using either the fair value method or the amortization method for the years ended December 31, 2014 and 2013: | |||||||||||||||||||
Fair Value Method | |||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | |||||||||||||||||
Fair value, beginning of year | $ | 34,236 | $ | 35,202 | |||||||||||||||
Change in fair value during the period due to: | |||||||||||||||||||
Time decay (1) | -2,232 | -2,648 | |||||||||||||||||
Payoffs (2) | -5,814 | -11,851 | |||||||||||||||||
Changes in valuation inputs or assumptions (3) | -3,404 | 13,533 | |||||||||||||||||
Fair value, end of year | $ | 22,786 | $ | 34,236 | |||||||||||||||
Weighted-average life (years) | 4.6 | 4.2 | |||||||||||||||||
-1 | Represents decrease in value due to passage of time, including the impact from both regularly scheduled loan principal payments and partial loan paydowns. | ||||||||||||||||||
-2 | Represents decrease in value associated with loans that paid off during the period. | ||||||||||||||||||
-3 | Represents change in value resulting primarily from market-driven changes in interest rates and prepayment speeds. | ||||||||||||||||||
Amortization Method | |||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | |||||||||||||||||
Carrying value, beginning of year | $ | 128,064 | $ | 85,545 | |||||||||||||||
New servicing assets created | 24,629 | 34,743 | |||||||||||||||||
Servicing assets acquired | 3,505 | --- | |||||||||||||||||
Impairment recovery (charge) | -7,330 | 22,023 | |||||||||||||||||
Amortization and other | -16,056 | -14,247 | |||||||||||||||||
Carrying value, end of year | $ | 132,812 | $ | 128,064 | |||||||||||||||
Fair value, end of year | $ | 133,049 | $ | 143,304 | |||||||||||||||
Weighted-average life (years) | 5.9 | 6.8 | |||||||||||||||||
MSRs do not trade in an active, open market with readily observable prices. While sales of MSRs occur, the precise terms and conditions are typically not readily available. Therefore, the fair value of MSRs is estimated using a discounted future cash flow model. The model considers portfolio characteristics, contractually specified servicing fees and assumptions related to prepayments, delinquency rates, late charges, other ancillary revenues, costs to service, and other economic factors. Changes in the assumptions used may have a significant impact on the valuation of MSRs. | |||||||||||||||||||
MSR values are very sensitive to movements in interest rates as expected future net servicing income depends on the projected outstanding principal balances of the underlying loans, which can be greatly impacted by the level of prepayments. Huntington hedges the value of certain MSRs against changes in value attributable to changes in interest rates using a combination of derivative instruments and trading securities. | |||||||||||||||||||
For MSRs under the fair value method, a summary of key assumptions and the sensitivity of the MSR value to changes in these assumptions at December 31, 2014, and 2013 follows: | |||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||
Decline in fair value due to | Decline in fair value due to | ||||||||||||||||||
10% | 20% | 10% | 20% | ||||||||||||||||
adverse | adverse | adverse | adverse | ||||||||||||||||
(dollar amounts in thousands) | Actual | change | change | Actual | change | change | |||||||||||||
Constant prepayment rate (annualized) | 15.6 | % | $ | -1,176 | $ | -2,248 | 11.9 | % | $ | -1,935 | $ | -3,816 | |||||||
Spread over forward interest rate swap rates | 546 | bps | -699 | -1,355 | 1,069 | bps | -1,376 | -2,753 | |||||||||||
For MSRs under the amortization method, a summary of key assumptions and the sensitivity of the MSR value to changes in these assumptions at December 31, 2014 and 2013 follows: | |||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||
Decline in fair value due to | Decline in fair value due to | ||||||||||||||||||
10% | 20% | 10% | 20% | ||||||||||||||||
adverse | adverse | adverse | adverse | ||||||||||||||||
(dollar amounts in thousands) | Actual | change | change | Actual | change | change | |||||||||||||
Constant prepayment rate (annualized) | 11.4 | % | $ | -5,289 | $ | -10,164 | 6.7 | % | $ | -6,813 | $ | -12,977 | |||||||
Spread over forward interest rate swap rates | 856 | bps | -4,343 | -8,403 | 940 | bps | -6,027 | -12,054 | |||||||||||
Total servicing, late and other ancillary fees included in mortgage banking income was $44.3 million, $43.8 million, and $46.2 million in 2014, 2013, and 2012, respectively. The unpaid principal balance of residential mortgage loans serviced for third parties was $15.6 billion, $15.2 billion, and $15.6 billion at December 31, 2014, 2013, and 2012, respectively. | |||||||||||||||||||
Automobile Loans and Leases | |||||||||||||||||||
The following table summarizes activity relating to automobile loans sold and/or securitized with servicing retained for the years ended December 31, 2014, 2013, and 2012: | |||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||
(dollar amounts in thousands) | 2014 (1) | 2013 (1) | 2012 | ||||||||||||||||
Automobile loans sold with servicing retained | $ | --- | $ | --- | $ | 169,324 | |||||||||||||
Automobile loans securitized with servicing retained | --- | --- | 2,300,018 | ||||||||||||||||
Pretax gains (2) | --- | --- | 42,251 | ||||||||||||||||
-1 | Huntington did not sell or securitize any automobile loans in 2014 or 2013. | ||||||||||||||||||
-2 | Recorded in noninterest income | ||||||||||||||||||
Huntington has retained servicing responsibilities on sold automobile loans and receives annual servicing fees and other ancillary fees on the outstanding loan balances. Automobile loan servicing rights are accounted for using the amortization method. A servicing asset is established at fair value at the time of the sale using a discounted future cash flow model. The model considers assumptions related to actual servicing income, adequate compensation for servicing, and other ancillary fees. The servicing asset is then amortized against servicing income. Impairment, if any, is recognized when carrying value exceeds the fair value as determined by calculating the present value of expected net future cash flows. The primary risk characteristic for measuring servicing assets is payoff rates of the underlying loan pools. Valuation calculations rely on the predicted payoff assumption and, if actual payoff is quicker than expected, then future value would be impaired. | |||||||||||||||||||
Changes in the carrying value of automobile loan servicing rights for the years ended December 31, 2014 and 2013, and the fair value at the end of each period were as follows: | |||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | |||||||||||||||||
Carrying value, beginning of year | $ | 17,672 | $ | 35,606 | |||||||||||||||
New servicing assets created | --- | --- | |||||||||||||||||
Amortization and other | -10,774 | -17,934 | |||||||||||||||||
Carrying value, end of year | $ | 6,898 | $ | 17,672 | |||||||||||||||
Fair value, end of year | $ | 6,948 | $ | 18,193 | |||||||||||||||
Weighted-average life (years) | 2.6 | 3.6 | |||||||||||||||||
A summary of key assumptions and the sensitivity of the automobile loan servicing rights value to changes in these assumptions at December 31, 2014 and 2013 follows: | |||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||
Decline in fair value due to | Decline in fair value due to | ||||||||||||||||||
10% | 20% | 10% | 20% | ||||||||||||||||
adverse | adverse | adverse | adverse | ||||||||||||||||
(dollar amounts in thousands) | Actual | change | change | Actual | change | change | |||||||||||||
Constant prepayment rate (annualized) | 14.62 | % | $ | -305 | $ | -496 | 14.65 | % | $ | -584 | $ | -1,183 | |||||||
Spread over forward interest rate swap rates | 500 | bps | -2 | -4 | 500 | bps | -7 | -15 | |||||||||||
Servicing income, net of amortization of capitalized servicing assets was $7.7 million, $10.3 million, and $8.7 million for the years ended December 31, 2014, 2013, and 2012, respectively. The unpaid principal balance of automobile loans serviced for third parties was $0.8 billion, $1.6 billion, and $2.5 billion at December 31, 2014, 2013, and 2012, respectively. | |||||||||||||||||||
Small Business Association (SBA) Portfolio | |||||||||||||||||||
The following table summarizes activity relating to SBA loans sold with servicing retained for the years ended December 31, 2014, 2013, and 2012: | |||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | ||||||||||||||||
SBA loans sold with servicing retained | $ | 214,760 | $ | 178,874 | $ | 209,540 | |||||||||||||
Pretax gains resulting from above loan sales (1) | 24,579 | 19,556 | 22,916 | ||||||||||||||||
-1 | Recorded in noninterest income | ||||||||||||||||||
Huntington has retained servicing responsibilities on sold SBA loans and receives annual servicing fees on the outstanding loan balances. SBA loan servicing rights are accounted for using the amortization method. A servicing asset is established at fair value at the time of the sale using a discounted future cash flow model. The servicing asset is then amortized against servicing income. Impairment, if any, is recognized when carrying value exceeds the fair value as determined by calculating the present value of expected net future cash flows. | |||||||||||||||||||
The following tables summarize the changes in the carrying value of the servicing asset for the years ended December 31, 2014 and 2013: | |||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | |||||||||||||||||
Carrying value, beginning of year | $ | 16,865 | $ | 15,147 | |||||||||||||||
New servicing assets created | 7,269 | 6,105 | |||||||||||||||||
Amortization and other | -5,598 | -4,387 | |||||||||||||||||
Carrying value, end of year | $ | 18,536 | $ | 16,865 | |||||||||||||||
Fair value, end of year | $ | 20,495 | $ | 16,865 | |||||||||||||||
Weighted-average life (years) | 3.5 | 3.5 | |||||||||||||||||
A summary of key assumptions and the sensitivity of the SBA loan servicing rights value to changes in these assumptions at December 31, 2014 and 2013 follows: | |||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||
Decline in fair value due to | Decline in fair value due to | ||||||||||||||||||
10% | 20% | 10% | 20% | ||||||||||||||||
adverse | adverse | adverse | adverse | ||||||||||||||||
(dollar amounts in thousands) | Actual | change | change | Actual | change | change | |||||||||||||
Constant prepayment rate (annualized) | 5.6 | % | $ | -211 | $ | -419 | 5.9 | % | $ | -221 | $ | -438 | |||||||
Discount rate | 1,500 | bps | -563 | -1,102 | 1,500 | bps | -446 | -873 | |||||||||||
Servicing income, net of amortization of capitalized servicing assets was $7.4 million, $6.3 million, and $5.7 million in 2014, 2013, and 2012, respectively. The unpaid principal balance of SBA loans serviced for third parties was $898.0 million, $885.4 million and $758.3 million at December 31, 2014, 2013 and 2012, respectively. |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Goodwill and Other Intangible Assets [Abstract] | ||||||||||||||||
GOODWILL AND OTHER INTANGIBLE ASSETS | 7. Goodwill and Other Intangible Assets | |||||||||||||||
Business segments are based on segment leadership structure, which reflects how segment performance is monitored and assessed. During the 2014 first quarter, we realigned our business segments to drive our ongoing growth and leverage the knowledge of our highly experienced team. We now have five major business segments: Retail and Business Banking, Commercial Banking, Automobile Finance and Commercial Real Estate (AFCRE), Regional Banking and The Huntington Private Client Group (RBHPCG), and Home Lending. A Treasury / Other function includes technology and operations, other unallocated assets, liabilities, revenue, and expense. All periods presented have been reclassified to conform to the current period classification. Amounts relating to the realignment are disclosed in the table below. | ||||||||||||||||
A rollforward of goodwill by business segment for the years ended December 31, 2014 and 2013, is presented in the table below: | ||||||||||||||||
Retail & | ||||||||||||||||
Business | Commercial | Home | Treasury/ | Huntington | ||||||||||||
(dollar amounts in thousands) | Banking | Banking | AFCRE | RBHPCG | Lending | Other | Consolidated | |||||||||
Balance, January 1, 2013 | $ | 286,824 | $ | 22,108 | $ | --- | $ | 93,012 | $ | --- | $ | 42,324 | $ | 444,268 | ||
Adjustments / Reallocation | --- | --- | --- | --- | --- | --- | --- | |||||||||
Balance, December 31, 2013 | 286,824 | 22,108 | --- | 93,012 | --- | 42,324 | 444,268 | |||||||||
Goodwill acquired during the period | 81,273 | --- | --- | --- | --- | --- | 81,273 | |||||||||
Adjustments / Reallocation | --- | 37,486 | --- | -3,000 | 3,000 | -37,486 | --- | |||||||||
Impairment | --- | --- | --- | --- | -3,000 | --- | -3,000 | |||||||||
Balance, December 31, 2014 | $ | 368,097 | $ | 59,594 | $ | --- | $ | 90,012 | $ | --- | $ | 4,838 | $ | 522,541 | ||
In 2014, Huntington completed an acquisition of 24 Bank of America branches in Michigan and recorded $17.1 million of goodwill. The remaining $64.2 million of goodwill acquired during 2014 was the result of the Camco Financial acquisition, which was also completed in 2014. For additional information on the acquisitions, see Business Combinations footnote. | ||||||||||||||||
Goodwill is not amortized but is evaluated for impairment on an annual basis as of October 1st each year or whenever events or changes in circumstances indicate that the carrying value may not be recoverable. As a result of the 2014 first quarter reorganization in our reported business segments, goodwill was reallocated among the business segments. Immediately following the reallocation, impairment of $3.0 million was recorded in the Home Lending reporting segment. No impairment was recorded in 2013 or 2012. | ||||||||||||||||
During the 2014 third quarter, we moved our insurance brokerage business from Treasury / Other to Commercial Banking to align with a change in management responsibilities. Amounts relating to the realignment are disclosed in the table above. | ||||||||||||||||
At December 31, 2014 and 2013, Huntington’s other intangible assets consisted of the following: | ||||||||||||||||
Gross | Net | |||||||||||||||
Carrying | Accumulated | Carrying | ||||||||||||||
(dollar amounts in thousands) | Amount | Amortization | Value | |||||||||||||
31-Dec-14 | ||||||||||||||||
Core deposit intangible | $ | 400,058 | $ | -366,907 | $ | 33,151 | ||||||||||
Customer relationship | 107,920 | -66,534 | 41,386 | |||||||||||||
Other | 25,164 | -25,030 | 134 | |||||||||||||
Total other intangible assets | $ | 533,142 | $ | -458,471 | $ | 74,671 | ||||||||||
31-Dec-13 | ||||||||||||||||
Core deposit intangible | $ | 380,249 | $ | -335,552 | $ | 44,697 | ||||||||||
Customer relationship | 106,974 | -58,675 | 48,299 | |||||||||||||
Other | 25,164 | -24,967 | 197 | |||||||||||||
Total other intangible assets | $ | 512,387 | $ | -419,194 | $ | 93,193 | ||||||||||
The estimated amortization expense of other intangible assets for the next five years is as follows: | ||||||||||||||||
Amortization | ||||||||||||||||
(dollar amounts in thousands) | Expense | |||||||||||||||
2015 | $ | 26,329 | ||||||||||||||
2016 | 12,485 | |||||||||||||||
2017 | 11,371 | |||||||||||||||
2018 | 9,890 | |||||||||||||||
2019 | 8,873 |
Premises_and_Equipment
Premises and Equipment | 12 Months Ended | ||||||
Dec. 31, 2014 | |||||||
Property, Plant and Equipment [Abstract] | |||||||
Property, Plant and Equipment Disclosure [Text Block] | 8. Premises and Equipment | ||||||
At December 31, | |||||||
(dollar amounts in thousands) | 2014 | 2013 | |||||
Land and land improvements | $ | 137,702 | $ | 129,543 | |||
Buildings | 367,225 | 356,555 | |||||
Leasehold improvements | 235,279 | 227,764 | |||||
Equipment | 627,307 | 669,482 | |||||
Total premises and equipment | 1,367,513 | 1,383,344 | |||||
Less accumulated depreciation and amortization | -751,106 | -748,687 | |||||
Net premises and equipment | $ | 616,407 | $ | 634,657 | |||
Depreciation and amortization charged to expense and rental income credited to net occupancy expense for the three years ended December 31, 2014, 2013, and 2012 were: | |||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | ||||
Total depreciation and amortization of premises and equipment | $ | 82,296 | $ | 78,601 | $ | 76,170 | |
Rental income credited to occupancy expense | 11,556 | 12,542 | 11,519 |
Short_Term_Borrowings
Short Term Borrowings | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Short-term Debt [Abstract] | ||||||||||||
Short-term Debt [Text Block] | 9. Short-term Borrowings | |||||||||||
Short-term borrowings at December 31, 2014 and 2013 were comprised of the following: | ||||||||||||
At December 31, | ||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||||||
Federal funds purchased and securities sold under agreements to repurchase | $ | 1,058,096 | $ | 548,605 | ||||||||
Federal Home Loan Bank advances | 1,325,000 | 1,800,000 | ||||||||||
Other borrowings | 14,005 | 3,538 | ||||||||||
Total short-term borrowings | $ | 2,397,101 | $ | 2,352,143 | ||||||||
Other borrowings consist of borrowings from the Treasury and other notes payable. | ||||||||||||
For each of the three years ended December 31, 2014, 2013, and 2012, weighted average interest rate at year-end, the maximum balance for the year, the average balance for the year, and weighted average interest rate for the year by category of short-term borrowings were as follows: | ||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | |||||||||
Weighted average interest rate at year-end | ||||||||||||
Federal Funds purchased and securities sold under agreements to repurchase | 0.08 | % | 0.06 | % | 0.15 | % | ||||||
Federal Home Loan Bank advances | 0.14 | 0.02 | 0.03 | |||||||||
Other short-term borrowings | 1.11 | 2.59 | 1.98 | |||||||||
Maximum amount outstanding at month-end during the year | ||||||||||||
Federal Funds purchased and securities sold under agreements to repurchase | $ | 1,491,350 | $ | 787,127 | $ | 1,590,082 | ||||||
Federal Home Loan Bank advances | 2,375,000 | 1,800,000 | 1,000,000 | |||||||||
Other short-term borrowings | 56,124 | 19,497 | 26,071 | |||||||||
Average amount outstanding during the year | ||||||||||||
Federal Funds purchased and securities sold under agreements to repurchase | $ | 987,156 | $ | 692,481 | $ | 1,293,348 | ||||||
Federal Home Loan Bank advances | 1,753,045 | 702,262 | 286,530 | |||||||||
Other short-term borrowings | 20,797 | 7,815 | 16,983 | |||||||||
Weighted average interest rate during the year | ||||||||||||
Federal Funds purchased and securities sold under agreements to repurchase | 0.07 | % | 0.08 | % | 0.14 | % | ||||||
Federal Home Loan Bank advances | 0.06 | 0.04 | 0.17 | |||||||||
Other short-term borrowings | 1.63 | 1.79 | 1.36 |
Other_Long_Term_Debt
Other Long Term Debt | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Long-term Debt, Current and Noncurrent [Abstract] | ||||||||||||||||
Long-term Debt [Text Block] | 10. Long-Term Debt | |||||||||||||||
Huntington’s long-term debt consisted of the following: | ||||||||||||||||
At December 31, | ||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||||||||||
The Parent Company: | ||||||||||||||||
Senior Notes: | ||||||||||||||||
2.64% Huntington Bancshares Incorporated senior note due 2018 | $ | 398,924 | $ | 397,306 | ||||||||||||
Subordinated Notes: | ||||||||||||||||
Fixed 7.00% subordinated notes due 2020 | 330,105 | 323,856 | ||||||||||||||
Huntington Capital I Trust Preferred 0.93% junior subordinated debentures due 2027 (1) | 111,816 | 111,816 | ||||||||||||||
Huntington Capital II Trust Preferred 0.87% junior subordinated debentures due 2028 (2) | 54,593 | 54,593 | ||||||||||||||
Sky Financial Capital Trust III 1.66% junior subordinated debentures due 2036 (3) | 72,165 | 72,165 | ||||||||||||||
Sky Financial Capital Trust IV 1.64% junior subordinated debentures due 2036 (3) | 74,320 | 74,320 | ||||||||||||||
Camco Statutory Trust I 2.71% due 2037 (4) | 4,181 | --- | ||||||||||||||
Total notes issued by the parent | 1,046,104 | 1,034,056 | ||||||||||||||
The Bank: | ||||||||||||||||
Senior Notes: | ||||||||||||||||
1.31% Huntington National Bank senior note due 2016 | 497,477 | 497,317 | ||||||||||||||
1.40% Huntington National Bank senior note due 2016 | 349,499 | 349,858 | ||||||||||||||
5.04% Huntington National Bank medium-term notes due 2018 | 38,541 | 39,497 | ||||||||||||||
1.43% Huntington National Bank senior note due 2019 | 499,760 | --- | ||||||||||||||
2.23% Huntington National Bank senior note due 2017 | 499,759 | --- | ||||||||||||||
0.66% Huntington National Bank senior note due 2017 (5) | 250,000 | --- | ||||||||||||||
Subordinated Notes: | ||||||||||||||||
5.00% subordinated notes due 2014 | --- | 125,109 | ||||||||||||||
5.59% subordinated notes due 2016 | 105,731 | 108,038 | ||||||||||||||
6.67% subordinated notes due 2018 | 140,115 | 143,749 | ||||||||||||||
5.45% subordinated notes due 2019 | 85,783 | 87,214 | ||||||||||||||
Total notes issued by the bank | 2,466,665 | 1,350,782 | ||||||||||||||
FHLB Advances: | ||||||||||||||||
0.21% weighted average rate, varying maturities greater than one year | 758,052 | 8,293 | ||||||||||||||
Other: | ||||||||||||||||
Other | 65,141 | 65,141 | ||||||||||||||
Total long-term debt | $ | 4,335,962 | $ | 2,458,272 | ||||||||||||
(1) Variable effective rate at December 31, 2014, based on three month LIBOR + 0.70%. | ||||||||||||||||
(2) Variable effective rate at December 31, 2014, based on three month LIBOR + 0.625%. | ||||||||||||||||
(3) Variable effective rate at December 31, 2014, based on three month LIBOR + 1.40%. | ||||||||||||||||
(4) Variable effective rate at December 31, 2014, based on three month LIBOR + 1.33%. | ||||||||||||||||
(5) Variable effective rate at December 31, 2014, based on three month LIBOR + 0.425%. | ||||||||||||||||
Amounts above are net of unamortized discounts and adjustments related to hedging with derivative financial instruments. The derivative instruments, principally interest rate swaps, are used to hedge the fair values of certain fixed-rate debt by converting the debt to a variable rate. See Note 18 for more information regarding such financial instruments. | ||||||||||||||||
In April 2014, the Bank issued $500.0 million of senior notes at 99.842% of face value. The senior note issuances mature on April 24, 2017 and have a fixed coupon rate of 1.375%. In April 2014, the Bank also issued $250.0 million of senior notes at 100% of face value. The senior bank note issuances mature on April 24, 2017 and have a variable coupon rate equal to the three-month LIBOR plus 0.425%. Both senior note issuances may be redeemed one month prior to their maturity date at 100% of principal plus accrued and unpaid interest. | ||||||||||||||||
In February 2014, the Bank issued $500.0 million of senior notes at 99.842% of face value. The senior bank note issuances mature on April 1, 2019 and have a fixed coupon rate of 2.20%. The senior note issuance may be redeemed one month prior to the maturity date at 100% of principal plus accrued and unpaid interest. | ||||||||||||||||
In November 2013, the Bank issued $500.0 million of senior notes at 99.979% of face value. The senior bank note issuances mature on November 20, 2016 and have a fixed coupon rate of 1.30%. The senior note issuance may be redeemed one month prior to the maturity date at 100% of principal plus accrued and unpaid interest. | ||||||||||||||||
In August 2013, the parent company issued $400.0 million of senior notes at 99.80% of face value. The senior note issuances mature on August 2, 2018 and have a fixed coupon rate of 2.60%. In August 2013, the Bank issued $350.0 million of senior notes at 99.865% of face value. The senior bank note issuances mature on August 2, 2016 and have a fixed coupon rate of 1.35%. Both senior note issuances may be redeemed one month prior to their maturity date at 100% of principal plus accrued and unpaid interest. | ||||||||||||||||
On July 2, 2013, the Federal Reserve Board voted to adopt final capital rules to implement Basel III requirements for U.S. Banking organizations. The final rules establish an integrated regulatory capital framework that will implement, in the United States, the Basel III regulatory capital reforms from the Basel Committee on Banking Supervision and certain changes required by the Dodd-Frank Act. Based on our review of the final rules and an opinion of outside counsel, dated November 6, 2013, we have determined that there is a significant risk that our Huntington Preferred Capital, Inc. 7.88% Class C preferred securities will no longer constitute Tier 1 capital for the Bank for purposes of the capital adequacy guidelines or policies of the OCC, when Basel III becomes effective for Huntington Bancshares Incorporated and its affiliates. As a result, a regulatory capital event has occurred. On November 7, 2013, the board of directors approved the redemption of Class C preferred securities and on December 31, 2013 (the Redemption Date), Huntington Preferred Capital, Inc. redeemed all of the Class C Preferred Securities at the redemption price of $25.00 per share. | ||||||||||||||||
Long-term debt maturities for the next five years and thereafter are as follows: | ||||||||||||||||
dollar amounts in thousands | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | |||||||||
The Parent Company: | ||||||||||||||||
Senior notes | $ | --- | $ | --- | $ | --- | $ | 400,000 | $ | --- | $ | --- | $ | 400,000 | ||
Subordinated notes | --- | --- | --- | --- | --- | 618,049 | 618,049 | |||||||||
The Bank: | ||||||||||||||||
Senior notes | --- | 850,000 | 750,000 | --- | 500,000 | 35,000 | 2,135,000 | |||||||||
Subordinated notes | --- | 103,009 | --- | 125,539 | 75,716 | --- | 304,264 | |||||||||
FHLB Advances | --- | 750,000 | 100 | 1,205 | 369 | 6,596 | 758,270 | |||||||||
Other | 141 | --- | --- | --- | --- | 65,000 | 65,141 | |||||||||
Total | $ | 141 | $ | 1,703,009 | $ | 750,100 | $ | 526,744 | $ | 576,085 | $ | 724,645 | $ | 4,280,724 | ||
These maturities are based upon the par values of the long-term debt. | ||||||||||||||||
The terms of the other long-term debt obligations contain various restrictive covenants including limitations on the acquisition of additional debt in excess of specified levels, dividend payments, and the disposition of subsidiaries. As of December 31, 2014, Huntington was in compliance with all such covenants. |
Other_Comprehensive_Income
Other Comprehensive Income | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Other Comprehensive Income [Abstract] | |||||||||||||||
OTHER COMPREHENSIVE INCOME | 11. OTHER COMPREHENSIVE INCOME | ||||||||||||||
The components of Huntington’s OCI in the three years ended December 31, 2014, 2013, and 2012, were as follows: | |||||||||||||||
2014 | |||||||||||||||
Tax (expense) | |||||||||||||||
(dollar amounts in thousands) | Pretax | Benefit | After-tax | ||||||||||||
Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold | $ | 13,583 | $ | -4,803 | $ | 8,780 | |||||||||
Unrealized holding gains (losses) on available-for-sale debt securities arising during the period | 86,618 | -30,914 | 55,704 | ||||||||||||
Less: Reclassification adjustment for net gains (losses) included in net income | -15,559 | 5,446 | -10,113 | ||||||||||||
Net change in unrealized holding gains (losses) on available-for-sale debt securities | 84,642 | -30,271 | 54,371 | ||||||||||||
Net change in unrealized holding gains (losses) on available-for-sale equity securities | 295 | -103 | 192 | ||||||||||||
Unrealized gains and losses on derivatives used in cash flow hedging relationships arising during the period | 14,141 | -4,949 | 9,192 | ||||||||||||
Less: Reclassification adjustment for net losses (gains) included in net income | -3,971 | 1,390 | -2,581 | ||||||||||||
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships | 10,170 | -3,559 | 6,611 | ||||||||||||
Change in pension and post-retirement obligations | -106,857 | 37,400 | -69,457 | ||||||||||||
Total other comprehensive income (loss) | $ | -11,750 | $ | 3,467 | $ | -8,283 | |||||||||
2013 | |||||||||||||||
Tax (expense) | |||||||||||||||
(dollar amounts in thousands) | Pretax | Benefit | After-tax | ||||||||||||
Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold | $ | 235 | $ | -82 | $ | 153 | |||||||||
Unrealized holding gains (losses) on available-for-sale debt securities arising during the period | -125,919 | 44,191 | -81,728 | ||||||||||||
Less: Reclassification adjustment for net gains (losses) included in net income | 6,211 | -2,174 | 4,037 | ||||||||||||
Net change in unrealized holding gains (losses) on available-for-sale debt securities | -119,473 | 41,935 | -77,538 | ||||||||||||
Net change in unrealized holding gains (losses) on available-for-sale equity securities | 151 | -53 | 98 | ||||||||||||
Unrealized gains and losses on derivatives used in cash flow hedging relationships arising during the period | -86,240 | 30,184 | -56,056 | ||||||||||||
Less: Reclassification adjustment for net (gains) losses included in net income | -15,188 | 5,316 | -9,872 | ||||||||||||
Net change in unrealized (losses) gains on derivatives used in cash flow hedging relationships | -101,428 | 35,500 | -65,928 | ||||||||||||
Re-measurement obligation | 136,452 | -47,758 | 88,694 | ||||||||||||
Defined benefit pension items | -13,106 | 4,588 | -8,518 | ||||||||||||
Net change in pension and post-retirement obligations | 123,346 | -43,170 | 80,176 | ||||||||||||
Total other comprehensive income (loss) | $ | -97,404 | $ | 34,212 | $ | -63,192 | |||||||||
2012 | |||||||||||||||
Tax (expense) | |||||||||||||||
(dollar amounts in thousands) | Pretax | Benefit | After-tax | ||||||||||||
Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold | $ | 19,215 | $ | -6,725 | $ | 12,490 | |||||||||
Unrealized holding gains (losses) on available-for-sale debt securities arising during the period | 90,318 | -32,137 | 58,181 | ||||||||||||
Less: Reclassification adjustment for net gains (losses) included in net income | -4,769 | 1,669 | -3,100 | ||||||||||||
Net change in unrealized holding gains (losses) on available-for-sale debt securities | 104,764 | -37,193 | 67,571 | ||||||||||||
Net change in unrealized holding gains (losses) on available-for-sale equity securities | 344 | -120 | 224 | ||||||||||||
Unrealized gains and losses on derivatives used in cash flow hedging relationships arising during the period | -5,476 | 1,907 | -3,569 | ||||||||||||
Less: Reclassification adjustment for net losses (gains) losses included in net income | 14,992 | -5,237 | 9,755 | ||||||||||||
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships | 9,516 | -3,330 | 6,186 | ||||||||||||
Net actuarial gains (losses) arising during the year | -105,527 | 36,934 | -68,593 | ||||||||||||
Amortization of net actuarial loss and prior service cost included in income | 27,013 | -9,455 | 17,558 | ||||||||||||
Net change in pension and post-retirement obligations | -78,514 | 27,479 | -51,035 | ||||||||||||
Total other comprehensive income (loss) | $ | 36,110 | $ | -13,164 | $ | 22,946 | |||||||||
Activity in accumulated OCI for the three years ended December 31, were as follows: | |||||||||||||||
(dollar amounts in thousands) | Unrealized gains and (losses) on debt securities (1) | Unrealized gains and (losses) on equity securities | Unrealized gains and (losses) on cash flow hedging derivatives | Unrealized gains (losses) for pension and other post-retirement obligations | Total | ||||||||||
Balance, December 31, 2012 | 38,304 | 194 | 47,084 | -236,399 | -150,817 | ||||||||||
Other comprehensive income before reclassifications | -81,575 | 98 | -56,056 | 88,694 | -48,839 | ||||||||||
Amounts reclassified from accumulated OCI to earnings | 4,037 | --- | -9,872 | -8,518 | -14,353 | ||||||||||
Period change | -77,538 | 98 | -65,928 | 80,176 | -63,192 | ||||||||||
Balance, December 31, 2013 | -39,234 | 292 | -18,844 | -156,223 | -214,009 | ||||||||||
Other comprehensive income before reclassifications | 64,484 | 192 | 9,192 | --- | 73,868 | ||||||||||
Amounts reclassified from accumulated OCI to earnings | -10,113 | --- | -2,581 | -69,457 | -82,151 | ||||||||||
Period change | 54,371 | 192 | 6,611 | -69,457 | -8,283 | ||||||||||
Balance, December 31, 2014 | $ | 15,137 | $ | 484 | $ | -12,233 | $ | -225,680 | $ | -222,292 | |||||
(1) Amount at December 31, 2014 includes $0.8 million of net unrealized gains on securities transferred from the available-for-sale securities portfolio to the held-to-maturity securities portfolio in prior years. The net unrealized gains will be recognized in earnings over the remaining life of the security using the effective interest method. | |||||||||||||||
The following table presents the reclassification adjustments out of accumulated OCI included in net income and the impacted line items as listed on the Consolidated Statements of Income for the year ended December 31, 2014: | |||||||||||||||
Reclassifications out of accumulated OCI | |||||||||||||||
Amounts reclassed | Location of net gain (loss) | ||||||||||||||
Accumulated OCI components | from accumulated OCI | reclassified from accumulated OCI into earnings | |||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | |||||||||||||
Gains (losses) on debt securities: | |||||||||||||||
Amortization of unrealized gains (losses) | $ | 597 | $ | 482 | Interest income - held-to-maturity securities - taxable | ||||||||||
Realized gain (loss) on sale of securities | 14,962 | -4,891 | Noninterest income - net gains (losses) on sale of securities | ||||||||||||
OTTI recorded | --- | -1,802 | Noninterest income - net gains (losses) on sale of securities | ||||||||||||
15,559 | -6,211 | Total before tax | |||||||||||||
-5,446 | 2,174 | Tax (expense) benefit | |||||||||||||
$ | 10,113 | $ | -4,037 | Net of tax | |||||||||||
Gains (losses) on cash flow hedging relationships: | |||||||||||||||
Interest rate contracts | $ | 4,064 | $ | 14,979 | Interest and fee income - loans and leases | ||||||||||
Interest rate contracts | --- | 209 | Interest and fee income - investment securities | ||||||||||||
Interest rate contracts | -93 | --- | Noninterest expense - other income | ||||||||||||
3,971 | 15,188 | Total before tax | |||||||||||||
-1,390 | -5,316 | Tax (expense) benefit | |||||||||||||
$ | 2,581 | $ | 9,872 | Net of tax | |||||||||||
Amortization of defined benefit pension and post-retirement items: | |||||||||||||||
Actuarial gains (losses) | $ | 106,857 | $ | -22,293 | Noninterest expense - personnel costs | ||||||||||
Prior service costs | --- | 3,454 | Noninterest expense - personnel costs | ||||||||||||
Other | --- | -919 | Noninterest expense - personnel costs | ||||||||||||
Curtailment | --- | 32,864 | Noninterest expense - personnel costs | ||||||||||||
106,857 | 13,106 | Total before tax | |||||||||||||
-37,400 | -4,588 | Tax (expense) benefit | |||||||||||||
$ | 69,457 | $ | 8,518 | Net of tax |
Shareholders_Equity
Shareholders' Equity | 3 Months Ended |
Dec. 31, 2014 | |
Shareholders' Equity [Abstract] | |
SHAREHOLDERS' EQUITY | 12. SHAREHOLDERS’ EQUITY |
Preferred Stock issued and outstanding | |
In 2008, Huntington issued 569,000 shares of 8.50% Series A Non-Cumulative Perpetual Convertible Preferred Stock (Series A Preferred Stock) with a liquidation preference of $1,000 per share. Each share of the Series A Preferred Stock is non-voting and may be converted at any time, at the option of the holder, into 83.668 shares of common stock of Huntington, which represents an approximate initial conversion price of $11.95 per share of common stock. Since April 15, 2013, at the option of Huntington, the Series A Preferred Stock is subject to mandatory conversion into Huntington's common stock at the prevailing conversion rate if the closing price of Huntington's common stock exceeds 130% of the conversion price for 20 trading days during any 30 consecutive trading-day period. | |
In 2011, Huntington issued $35.5 million par value Floating Rate Series B Non-Cumulative Perpetual Preferred Stock with a liquidation preference of $1,000 per share (the Series B Preferred Stock) and, in certain cases, an additional amount of cash consideration, in exchange for $35.5 million of (1) Huntington Capital I Floating Rate Capital Securities, (2) Huntington Capital II Floating Rate Capital Securities, (3) Sky Financial Capital Trust III Floating Rate Capital Securities and (4) Sky Financial Capital Trust IV Floating Rate Capital Securities. | |
As part of the exchange offer, Huntington issued depositary shares. Each depositary share represents a 1/40th ownership interest in a share of the Series B Preferred Stock. Each holder of a depositary share will be entitled, in proportion to the applicable fraction of a share of Series B Preferred Stock and all the related rights and preferences. Huntington will pay dividends on the Series B Preferred Stock at a floating rate equal to three-month LIBOR plus a spread of 2.70%. The preferred stock was recorded at the par amount of $35.5 million, with the difference between par amount of the shares and their fair value of $23.8 million recorded as a discount. | |
Share Repurchase Program | |
On March 26, 2014, Huntington announced that the Federal Reserve did not object to Huntington's proposed capital actions included in Huntington's capital plan submitted to the Federal Reserve in January 2014. These actions included a potential repurchase of up to $250 million of common stock through the first quarter of 2015. This repurchase authorization represented a $23 million, or 10%, increase from the prior common stock repurchase authorization. Purchases of common stock may include open market purchases, privately negotiated transactions, and accelerated repurchase programs. Huntington’s board of directors authorized a share repurchase program consistent with Huntington’s capital plan. During 2014, Huntington repurchased a total of 35.7 million shares of common stock at a weighted average share price of $9.37. During 2013, Huntington repurchased a total of 16.7 million shares of common stock, at a weighted average share price of $7.46. | |
On April 29, 2014, Huntington repurchased approximately 2.2 million shares of common stock from a third-party under an accelerated share repurchase program. The accelerated share repurchase program enabled Huntington to purchase 1.9 million shares immediately, while the third party could have purchased shares in the market up through June 24, 2014 (the Repurchase Term). In connection with the repurchase of these shares, Huntington entered into a variable share forward sale agreement, which provides for a settlement, reflecting a price differential based on the adjusted volume-weighted average price as defined in the agreement with the third party. The variable share forward agreement was settled in shares, resulting in approximately 0.3 million shares being delivered to Huntington on June 27, 2014. Based on the adjusted volume-weighted average prices through June 24, 2014, the settlement of the variable share forward agreement did not have a material impact to Huntington. | |
Huntington has the ability to repurchase up to $51.7 million of additional shares of common stock through the first quarter of 2015. We intend to continue disciplined repurchase activity consistent with our annual capital plan, our capital return objectives, and market conditions. |
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Earnings Per Share [Abstract] | ||||||||||
EARNINGS PER SHARE | 16. Earnings Per Share | |||||||||
Basic earnings per share is the amount of earnings (adjusted for dividends declared on preferred stock) available to each share of common stock outstanding during the reporting period. Diluted earnings per share is the amount of earnings available to each share of common stock outstanding during the reporting period adjusted to include the effect of potentially dilutive common shares. Potentially dilutive common shares include incremental shares issued for stock options, restricted stock units and awards, distributions from deferred compensation plans, and the conversion of the Company’s convertible preferred stock (See Note 15). Potentially dilutive common shares are excluded from the computation of diluted earnings per share in periods in which the effect would be antidilutive. For diluted earnings per share, net income available to common shares can be affected by the conversion of the Company’s convertible preferred stock. Where the effect of this conversion would be dilutive, net income available to common shareholders is adjusted by the associated preferred dividends and deemed dividend. The calculation of basic and diluted earnings per share for each of the three years ended December 31 was as follows: | ||||||||||
Year ended December 31, | ||||||||||
(dollar amounts in thousands, except per share amounts) | 2014 | 2013 | 2012 | |||||||
Basic earnings per common share: | ||||||||||
Net income | $ | 632,392 | $ | 641,282 | $ | 631,290 | ||||
Preferred stock dividends, deemed dividends and accretion of discount | -31,854 | -31,869 | -31,989 | |||||||
Net income available to common shareholders | $ | 600,538 | $ | 609,413 | $ | 599,301 | ||||
Average common shares issued and outstanding | 819,917 | 834,205 | 857,962 | |||||||
Basic earnings per common share | $ | 0.73 | $ | 0.73 | $ | 0.7 | ||||
Diluted earnings per common share | ||||||||||
Net income available to common shareholders | $ | 600,538 | $ | 609,413 | $ | 599,301 | ||||
Effect of assumed preferred stock conversion | --- | --- | --- | |||||||
Net income applicable to diluted earnings per share | $ | 600,538 | $ | 609,413 | $ | 599,301 | ||||
Average common shares issued and outstanding | 819,917 | 834,205 | 857,962 | |||||||
Dilutive potential common shares: | ||||||||||
Stock options and restricted stock units and awards | 11,421 | 8,418 | 4,202 | |||||||
Shares held in deferred compensation plans | 1,420 | 1,351 | 1,238 | |||||||
Other | 323 | --- | --- | |||||||
Dilutive potential common shares: | 13,164 | 9,769 | 5,440 | |||||||
Total diluted average common shares issued and outstanding | 833,081 | 843,974 | 863,402 | |||||||
Diluted earnings per common share | $ | 0.72 | $ | 0.72 | $ | 0.69 | ||||
Approximately 2.6 million, 6.6 million, and 24.4 million options to purchase shares of common stock outstanding at the end of 2014, 2013, and 2012, respectively, were not included in the computation of diluted earnings per share because the effect would be antidilutive. |
ShareBased_Compensation
Share-Based Compensation | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Share-Based Compensation [Abstract] | ||||||||||||||||
SHARE-BASED COMPENSATION | 14. SHARE-based Compensation | |||||||||||||||
Huntington sponsors nonqualified and incentive share based compensation plans. These plans provide for the granting of stock options and other awards to officers, directors, and other employees. Compensation costs are included in personnel costs on the Consolidated Statements of Income. Stock options are granted at the closing market price on the date of the grant. Options granted typically vest ratably over four years or when other conditions are met. Stock options, which represented a portion of our grant values, have no intrinsic value until the stock price increases. Options granted prior to May 2004 have a term of ten years. All options granted after May 2004 have a term of seven years. | ||||||||||||||||
In 2012, shareholders approved the Huntington Bancshares Incorporated 2012 Long-Term Incentive Plan (the Plan) which authorized 51.0 million shares for future grants. The Plan is the only active plan under which Huntington is currently granting share based options and awards. At December 31, 2014, 15.3 million shares from the Plan were available for future grants. Huntington issues shares to fulfill stock option exercises and restricted stock unit and award vesting from available authorized common shares. At December 31, 2014, the Company believes there are adequate authorized common shares to satisfy anticipated stock option exercises and restricted stock unit and award vesting in 2015. | ||||||||||||||||
Huntington uses the Black-Scholes option pricing model to value options in determining our share-based compensation expense. Forfeitures are estimated at the date of grant based on historical rates, and updated as necessary, and reduce the compensation expense recognized. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the date of grant. The expected dividend yield is based on the dividend rate and stock price at the date of the grant. Expected volatility is based on the estimated volatility of Huntington’s stock over the expected term of the option. | ||||||||||||||||
The following table illustrates the weighted average assumptions used in the option-pricing model for options granted in the three years ended December 31, 2014, 2013, and 2012: | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Assumptions | ||||||||||||||||
Risk-free interest rate | 1.69 | % | 0.79 | % | 1.1 | % | ||||||||||
Expected dividend yield | 2.61 | 2.83 | 2.38 | |||||||||||||
Expected volatility of Huntington's common stock | 32.3 | 35 | 34.9 | |||||||||||||
Expected option term (years) | 5 | 5.5 | 6 | |||||||||||||
Weighted-average grant date fair value per share | $ | 2.13 | $ | 1.71 | $ | 1.78 | ||||||||||
The following table illustrates total share-based compensation expense and related tax benefit for the three years ended December 31, 2014, 2013, and 2012: | ||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | |||||||||||||
Share-based compensation expense | $ | 43,666 | $ | 37,007 | $ | 27,873 | ||||||||||
Tax benefit | 14,779 | 12,472 | 9,298 | |||||||||||||
Huntington’s stock option activity and related information for the year ended December 31, 2014, was as follows: | ||||||||||||||||
Weighted- | ||||||||||||||||
Weighted- | Average | |||||||||||||||
Average | Remaining | Aggregate | ||||||||||||||
Exercise | Contractual | Intrinsic | ||||||||||||||
(amounts in thousands, except years and per share amounts) | Options | Price | Life (Years) | Value | ||||||||||||
Outstanding at January 1, 2014 | 23,300 | $ | 7.61 | |||||||||||||
Granted | 1,807 | 9.22 | ||||||||||||||
Assumed | 214 | |||||||||||||||
Exercised | -3,528 | 6.02 | ||||||||||||||
Forfeited/expired | -2,174 | 17.2 | ||||||||||||||
Outstanding at December 31, 2014 | 19,619 | $ | 6.99 | 3.9 | $ | 75,794 | ||||||||||
Expected to vest at December 31, 2014 (1) | 4,950 | $ | 7.64 | 5.4 | $ | 14,272 | ||||||||||
Exercisable at December 31, 2014 | 14,193 | $ | 6.73 | 3.3 | $ | 60,311 | ||||||||||
(1) The number of options expected to vest includes an estimate of 476 thousand shares expected to be forfeited. | ||||||||||||||||
The aggregate intrinsic value represents the amount by which the fair value of underlying stock exceeds the “in-the-money” option exercise price. For the years ended December 31, 2014, 2013, and 2012, cash received for the exercises of stock options was $21.2 million, $14.4 million and $2.3 million, respectively. The tax benefit realized for the tax deductions from option exercises totaled $3.5 million, $1.8 million and $0.3 million in 2014, 2013, and 2012, respectively. | ||||||||||||||||
The weighted-average grant date fair value of nonvested shares granted for the years ended December 31, 2014, 2013 and 2012 were $9.09, $7.12, and $6.69, respectively. The total fair value of awards vested during the years ended December 31, 2014, 2013, and 2012 was $25.7 million, $13.7 million, and $9.10 million, respectively. As of December 31, 2014, the total unrecognized compensation cost related to nonvested awards was $61.1 million with a weighted-average expense recognition period of 2.5 years. | ||||||||||||||||
The following table presents additional information regarding options outstanding as of December 31, 2014: | ||||||||||||||||
(amounts in thousands, except years and per share amounts) | Options Outstanding | Exercisable Options | ||||||||||||||
Weighted- | ||||||||||||||||
Average | Weighted- | Weighted- | ||||||||||||||
Remaining | Average | Average | ||||||||||||||
Range of | Contractual | Exercise | Exercise | |||||||||||||
Exercise Prices | Shares | Life (Years) | Price | Shares | Price | |||||||||||
$0 to $5.63 | 1,843 | 1.6 | $ | 4.64 | 1,836 | $ | 4.64 | |||||||||
$5.64 to $6.02 | 7,110 | 3.6 | 6.02 | 7,078 | 6.02 | |||||||||||
$6.03 to $15.95 | 10,087 | 4.7 | 7.26 | 4,700 | 6.78 | |||||||||||
$15.96 to $22.73 | 579 | 0.7 | 21.74 | 579 | 21.74 | |||||||||||
Total | 19,619 | 3.9 | $ | 6.99 | 14,193 | $ | 6.73 | |||||||||
Huntington also grants restricted stock, restricted stock units, performance share awards and other stock-based awards. Restricted stock units and awards are issued at no cost to the recipient, and can be settled only in shares at the end of the vesting period. Restricted stock awards provide the holder with full voting rights and cash dividends during the vesting period. Restricted stock units do not provide the holder with voting rights or cash dividends during the vesting period, but do accrue a dividend equivalent that is paid upon vesting, and are subject to certain service restrictions. Performance share awards are payable contingent upon Huntington achieving certain predefined performance objectives over the three-year measurement period. The fair value of these awards is the closing market price of Huntington’s common stock on the grant date. | ||||||||||||||||
The following table summarizes the status of Huntington's restricted stock units and performance share awards as of December 31, 2014, and activity for the year ended December 31, 2014: | ||||||||||||||||
Weighted- | Weighted- | Weighted- | ||||||||||||||
Average | Average | Average | ||||||||||||||
Restricted | Grant Date | Restricted | Grant Date | Performance | Grant Date | |||||||||||
Stock | Fair Value | Stock | Fair Value | Share | Fair Value | |||||||||||
(amounts in thousands, except per share amounts) | Awards | Per Share | Units | Per Share | Awards | Per Share | ||||||||||
Nonvested at January 1, 2014 | --- | $ | --- | 12,064 | $ | 6.8 | 1,646 | $ | 6.95 | |||||||
Granted | --- | --- | 4,600 | 9.12 | 1,076 | 8.96 | ||||||||||
Assumed | 27 | --- | --- | --- | --- | --- | ||||||||||
Vested | -14 | 9.53 | -4,003 | 6.39 | --- | --- | ||||||||||
Forfeited | -1 | 9.53 | -757 | 7.54 | -143 | 7.26 | ||||||||||
Nonvested at December 31, 2014 | 12 | 9.53 | 11,904 | $ | 7.79 | 2,579 | $ | 7.76 | ||||||||
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Income Tax Disclosure [Abstract] | ||||||||||
INCOME TAXES | 15. Income Taxes | |||||||||
The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction and various state, city, and foreign jurisdictions. Federal income tax audits have been completed through 2009. In the first quarter of 2013, the IRS began an examination of our 2010 and 2011 consolidated federal income tax returns. Certain proposed adjustments resulting from the IRS Examination of our 2005 through 2009 tax returns have been settled with the IRS Appeals Office, subject to final approval by the Joint Committee on Taxation of the U.S. Congress. Various state and other jurisdictions remain open to examination, including Ohio, Kentucky, Indiana, Michigan, Pennsylvania, West Virginia and Illinois. | ||||||||||
Huntington accounts for uncertainties in income taxes in accordance with ASC 740, Income Taxes. At December 31, 2014, Huntington had gross unrecognized tax benefits of $1.2 million in income tax liability related to tax positions. Due to the complexities of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from the current estimate of the tax liabilities. Huntington does not anticipate the total amount of gross unrecognized tax benefits to significantly change within the next 12 months. | ||||||||||
The following table provides a reconciliation of the beginning and ending amounts of gross unrecognized tax benefits: | ||||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||||
Unrecognized tax benefits at beginning of year | $ | 704 | $ | 6,246 | ||||||
Gross increases for tax positions taken during prior years | 468 | --- | ||||||||
Gross decreases for tax positions taken during prior years | --- | -5,048 | ||||||||
Settlements with taxing authorities | --- | -494 | ||||||||
Unrecognized tax benefits at end of year | $ | 1,172 | $ | 704 | ||||||
Any interest and penalties on income tax assessments or income tax refunds are recognized in the Consolidated Statements of Income as a component of provision for income taxes. Huntington recognized, $0.1 million of interest expense, $0.2 million of interest benefit, and $0.1 million of interest benefit for the years ended December 31, 2014, 2013 and 2012, respectively. Total interest accrued was $0.2 million and $0.1 million at December 31, 2014 and 2013, respectively. All of the gross unrecognized tax benefits would impact the Company’s effective tax rate if recognized. | ||||||||||
The following is a summary of the provision (benefit) for income taxes: | ||||||||||
Year Ended December 31, | ||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | |||||||
Current tax provision (benefit) | ||||||||||
Federal | $ | 186,436 | $ | 117,174 | $ | 35,387 | ||||
State | -1,017 | 4,278 | 6,966 | |||||||
Total current tax provision (benefit) | 185,419 | 121,452 | 42,353 | |||||||
Deferred tax provision (benefit) | ||||||||||
Federal | 41,167 | 112,681 | 193,211 | |||||||
State | -5,993 | -6,659 | -33,273 | |||||||
Total deferred tax provision (benefit) | 35,174 | 106,022 | 159,938 | |||||||
Provision for income taxes | $ | 220,593 | $ | 227,474 | $ | 202,291 | ||||
The following is a reconcilement of provision for income taxes: | ||||||||||
Year Ended December 31, | ||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | |||||||
Provision for income taxes computed at the statutory rate | $ | 298,545 | $ | 304,065 | $ | 291,753 | ||||
Increases (decreases): | ||||||||||
Tax-exempt income | -17,971 | -34,378 | -15,752 | |||||||
Tax-exempt bank owned life insurance income | -19,967 | -19,747 | -19,151 | |||||||
General business credits | -46,047 | -39,868 | -49,654 | |||||||
State deferred tax asset valuation allowance adjustment, net | -7,430 | -6,020 | -21,251 | |||||||
Capital loss | -26,948 | -961 | -18,659 | |||||||
Affordable housing investment amortization, net of tax benefits | 33,752 | 16,851 | 28,855 | |||||||
State income taxes, net | 2,873 | 4,472 | 4,152 | |||||||
Other | 3,786 | 3,060 | 1,998 | |||||||
Provision for income taxes | $ | 220,593 | $ | 227,474 | $ | 202,291 | ||||
The significant components of deferred tax assets and liabilities at December 31, were as follows: | ||||||||||
At December 31, | ||||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||||
Deferred tax assets: | ||||||||||
Allowances for credit losses | $ | 233,656 | $ | 244,684 | ||||||
Net operating and other loss carryforward | 161,548 | 153,826 | ||||||||
Fair value adjustments | 119,512 | 115,874 | ||||||||
Accrued expense/prepaid | 48,656 | 39,636 | ||||||||
Tax credit carryforward | 30,825 | 50,137 | ||||||||
Partnership investments | 24,123 | 13,552 | ||||||||
Purchase accounting adjustments | 13,839 | 14,096 | ||||||||
Market discount | 12,215 | 20,671 | ||||||||
Other | 9,477 | 10,437 | ||||||||
Total deferred tax assets | 653,851 | 662,913 | ||||||||
Deferred tax liabilities: | ||||||||||
Lease financing | 202,298 | 146,814 | ||||||||
Loan origination costs | 103,025 | 82,345 | ||||||||
Operating assets | 50,266 | 46,524 | ||||||||
Mortgage servicing rights | 47,748 | 48,007 | ||||||||
Securities adjustments | 27,856 | 33,719 | ||||||||
Purchase accounting adjustments | 17,299 | 39,578 | ||||||||
Pension and other employee benefits | 9,677 | 12,608 | ||||||||
Other | 5,178 | 11,313 | ||||||||
Total deferred tax liabilities | 463,347 | 420,908 | ||||||||
Net deferred tax asset before valuation allowance | 190,504 | 242,005 | ||||||||
Valuation allowance | -73,057 | -111,435 | ||||||||
Net deferred tax asset | $ | 117,447 | $ | 130,570 | ||||||
At December 31, 2014, Huntington’s net deferred tax asset related to loss and other carryforwards was $192.4 million. This was comprised of federal net operating loss carryforwards of $35.9 million, which will begin expiring in 2023, $48.6 million of state net operating loss carryforward, which will begin expiring in 2015, an alternative minimum tax credit carryforward of $28.5 million, which may be carried forward indefinitely, a general business credit carryforward of $2.3 million, which will begin expiring in 2025, and a capital loss carryforward of $77.1 million, which expires in 2018. | ||||||||||
In prior periods, Huntington established a valuation allowance against deferred tax assets for federal capital loss carryforwards, state deferred tax assets, and state net operating loss carryforwards. The federal valuation allowance was based on the uncertainty of forecasted federal taxable income expected of the required character in order to utilize the capital loss carryforward. The state valuation allowance was based on the uncertainty of forecasted state taxable income expected in applicable jurisdictions in order to utilize the state deferred tax assets and state net operating loss carryforwards. Based on current analysis of both positive and negative evidence and projected forecasted taxable income of the appropriate character and/or within applicable jurisdictions, the Company believes that it is more likely than not portions of the federal capital loss carryforward, the state deferred tax assets, and state net operating loss carryforwards will be realized. As a result of this analysis, the federal valuation allowance was reduced to $69.4 million compared to $96.3 million at December 31, 2013, for the portion of the capital loss carryforwards the Company expects to realize and the state valuation allowance was reduced to $3.7 million compared to $15.1 million in at December 31, 2013, for the portion of the state deferred tax assets and state net operating loss carryforwards the Company expects to realize. |
Benefit_Plans
Benefit Plans | 12 Months Ended | |||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||
Benefit Plans [Abstract] | ||||||||||||||||||
BENEFIT PLANS | 16. Benefit Plans | |||||||||||||||||
Huntington sponsors the Plan, a non-contributory defined benefit pension plan covering substantially all employees hired or rehired prior to January 1, 2010. The Plan, which was modified in 2013 and no longer accrues service benefits to participants, provides benefits based upon length of service and compensation levels. The funding policy of Huntington is to contribute an annual amount that is at least equal to the minimum funding requirements but not more than the amount deductible under the Internal Revenue Code. There were no required minimum contributions during 2014. During the 2013 third quarter, the board of directors approved, and management communicated, a curtailment of the Company’s pension plan effective December 31, 2013. | ||||||||||||||||||
In addition, Huntington has an unfunded defined benefit post-retirement plan that provides certain healthcare and life insurance benefits to retired employees who have attained the age of 55 and have at least 10 years of vesting service under this plan. For any employee retiring on or after January 1, 1993, post-retirement healthcare benefits are based upon the employee’s number of months of service and are limited to the actual cost of coverage. Life insurance benefits are a percentage of the employee’s base salary at the time of retirement, with a maximum of $50,000 of coverage. The employer paid portion of the post-retirement health and life insurance plan was eliminated for employees retiring on and after March 1, 2010. Eligible employees retiring on and after March 1, 2010, who elect retiree medical coverage, will pay the full cost of this coverage. Huntington will not provide any employer paid life insurance to employees retiring on and after March 1, 2010. Eligible employees will be able to convert or port their existing life insurance at their own expense under the same terms that are available to all terminated employees. | ||||||||||||||||||
On January 1, 2015, Huntington terminated the company sponsored retiree health care plan for Medicare eligible | ||||||||||||||||||
retirees and their dependents. Instead, Huntington will partner with a third party to assist the retirees and their dependents in selecting individual policies from a variety of carriers on a private exchange. This plan amendment resulted in a measurement of the liability at | ||||||||||||||||||
the approval date. The result of the measurement was a $5.2 million reduction of the liability and increase in accumulated other comprehensive income. It will also result in a reduction of expense over the estimated life of plan participants. | ||||||||||||||||||
The following table shows the weighted-average assumptions used to determine the benefit obligation at December 31, 2014 and 2013, and the net periodic benefit cost for the years then ended: | ||||||||||||||||||
Pension | Post-Retirement | |||||||||||||||||
Benefits | Benefits | |||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||
Weighted-average assumptions used to determine benefit obligations | ||||||||||||||||||
Discount rate | 4.12 | % | 4.89 | % | 3.72 | % | 4.27 | % | ||||||||||
Rate of compensation increase | N/A | N/A | N/A | N/A | ||||||||||||||
Weighted-average assumptions used to determine net periodic benefit cost | ||||||||||||||||||
Discount rate (1) (2) | 4.89 | 4.15 | 4.11 | 3.28 | ||||||||||||||
Expected return on plan assets | 7.25 | 7.63 | N/A | N/A | ||||||||||||||
Rate of compensation increase | N/A | 4.5 | N/A | N/A | ||||||||||||||
N/A - Not Applicable | ||||||||||||||||||
(1) The 2013 pension benefit expense was remeasured as of July 1, 2013. The discount rate was 3.83% from January 1, 2013 to July 1, 2013, | ||||||||||||||||||
and was changed to 4.47% for the period from July 1, 2013 to December 31, 2013. | ||||||||||||||||||
(2) The 2014 post-retirement benefit expense was remeasured as of July 31, 2014. The discount rate was 4.27% from January 1, 2014 to | ||||||||||||||||||
July 31, 2014, and was changed to 3.89% for the period from July 31, 2014 to December 31, 2014. | ||||||||||||||||||
The expected long-term rate of return on plan assets is an assumption reflecting the average rate of earnings expected on the funds invested or to be invested to provide for the benefits included in the projected benefit obligation. The expected long-term rate of return is established at the beginning of the plan year based upon historical returns and projected returns on the underlying mix of invested assets. | ||||||||||||||||||
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) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||
Projected benefit obligation at beginning of measurement year | $ | 684,999 | $ | 783,778 | $ | 25,669 | $ | 27,787 | ||||||||||
Changes due to: | ||||||||||||||||||
Service cost | 1,740 | 25,122 | --- | --- | ||||||||||||||
Interest cost | 32,398 | 30,112 | 856 | 862 | ||||||||||||||
Benefits paid | -16,221 | -14,886 | -3,401 | -3,170 | ||||||||||||||
Settlements | -27,045 | -19,363 | --- | --- | ||||||||||||||
Plan amendments | --- | -13,559 | -8,782 | --- | ||||||||||||||
Plan curtailments | --- | -7,875 | --- | --- | ||||||||||||||
Medicare subsidies | --- | --- | 462 | 564 | ||||||||||||||
Actuarial assumptions and gains and losses (1) | 123,723 | -98,330 | 1,159 | -374 | ||||||||||||||
Total changes | 114,595 | -98,779 | -9,706 | -2,118 | ||||||||||||||
Projected benefit obligation at end of measurement year | $ | 799,594 | $ | 684,999 | $ | 15,963 | $ | 25,669 | ||||||||||
(1) The 2014 actuarial assumptions include revised mortality tables. | ||||||||||||||||||
Benefits paid for post-retirement are net of retiree contributions collected by Huntington. The actual contributions received in 2014 by Huntington for the retiree medical program were $2.6 million. | ||||||||||||||||||
The following table reconciles the beginning and ending balances of the fair value of Plan assets at the December 31, 2014 and 2013 measurement dates | ||||||||||||||||||
Pension | ||||||||||||||||||
Benefits | ||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||||||||||||
Fair value of plan assets at beginning of measurement year | $ | 649,020 | $ | 633,617 | ||||||||||||||
Changes due to: | ||||||||||||||||||
Actual return on plan assets | 44,312 | 49,652 | ||||||||||||||||
Settlements | -24,098 | -19,363 | ||||||||||||||||
Benefits paid | -16,221 | -14,886 | ||||||||||||||||
Total changes | 3,993 | 15,403 | ||||||||||||||||
Fair value of plan assets at end of measurement year | $ | 653,013 | $ | 649,020 | ||||||||||||||
Huntington’s accumulated benefit obligation under the Plan was $799.6 million and $685.0 million at December 31, 2014 and 2013. As of December 31, 2014, the accumulated benefit obligation exceeded the fair value of Huntington’s plan assets by $146.6 million and is recorded in accrued expenses and other liabilities. The projected benefit obligation exceeded the fair value of Huntington’s plan assets by $146.6 million. | ||||||||||||||||||
The following table shows the components of net periodic benefit costs recognized in the three years ended December 31, 2014: | ||||||||||||||||||
Pension Benefits | Post-Retirement Benefits | |||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||
Service cost | $ | 1,740 | $ | 25,122 | $ | 24,869 | $ | --- | $ | --- | $ | --- | ||||||
Interest cost | 32,398 | 30,112 | 29,215 | 856 | 862 | 1,350 | ||||||||||||
Expected return on plan assets | -45,783 | -47,716 | -45,730 | --- | --- | --- | ||||||||||||
Amortization of transition asset | --- | --- | -4 | --- | --- | --- | ||||||||||||
Amortization of prior service cost | --- | -2,883 | -5,767 | -1,609 | -1,353 | -1,353 | ||||||||||||
Amortization of loss | 5,767 | 23,044 | 26,956 | -571 | -600 | -332 | ||||||||||||
Curtailment | --- | -34,613 | --- | --- | --- | --- | ||||||||||||
Settlements | 11,200 | 8,116 | 5,405 | --- | --- | --- | ||||||||||||
Benefit costs | $ | 5,322 | $ | 1,182 | $ | 34,944 | $ | -1,324 | $ | -1,091 | $ | -335 | ||||||
Included in benefit costs are $1.8 million, $1.7 million, and $1.1 million of plan expenses that were recognized in the three years ended December 31, 2014, 2013, and 2012. It is Huntington’s policy to recognize settlement gains and losses as incurred. Assuming no cash contributions are made to the Plan during 2015, Management expects net periodic pension benefit, excluding any expense of settlements, to approximate $2.5 million for 2015. The postretirement medical and life subsidy was eliminated for anyone who retires on or after March 1, 2010. As such, there were no incremental net periodic post-retirement benefits costs associated with this plan. | ||||||||||||||||||
The estimated transition obligation, prior service credit, and net actuarial loss for the plans that will be amortized from OCI into net periodic benefit cost over the next fiscal year is zero, $2.0 million, and a $8.4 million benefit, respectively. | ||||||||||||||||||
At December 31, 2014 and 2013, 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) | 2014 | 2013 | ||||||||||||||||
Cash equivalents: | ||||||||||||||||||
Huntington funds - money market | $ | 16,136 | 2 | % | $ | 803 | --- | % | ||||||||||
Fixed income: | ||||||||||||||||||
Huntington funds - fixed income funds | --- | --- | 74,048 | 11 | ||||||||||||||
Corporate obligations | 218,077 | 33 | 180,757 | 28 | ||||||||||||||
U.S. Government Obligations | 62,627 | 10 | 51,932 | 8 | ||||||||||||||
Mutual funds - fixed income | 34,761 | 5 | --- | --- | ||||||||||||||
U.S. Government Agencies | 7,445 | 1 | 6,146 | 1 | ||||||||||||||
Equities: | ||||||||||||||||||
Mutual funds - equities | 147,191 | 23 | --- | --- | ||||||||||||||
Other common stock | 118,970 | 18 | --- | --- | ||||||||||||||
Huntington common stock | --- | --- | 20,324 | 3 | ||||||||||||||
Huntington funds | 37,920 | 6 | 289,379 | 45 | ||||||||||||||
Exchange Traded Funds | 6,840 | 1 | 24,705 | 4 | ||||||||||||||
Limited Partnerships | 3,046 | 1 | 926 | --- | ||||||||||||||
Fair value of plan assets | $ | 653,013 | 100 | % | $ | 649,020 | 100 | % | ||||||||||
Investments of the Plan are accounted for at cost on the trade date and are reported at fair value. All of the Plan’s investments at December 31, 2014, are classified as Level 1 within the fair value hierarchy, except for corporate obligations, U.S. government obligations, and U.S. government agencies, which are classified as Level 2, and limited partnerships, which are classified as Level 3. In general, investments of the Plan are exposed to various risks such as interest rate risk, credit risk, and overall market volatility. Due to the level of risk associated with certain investments, it is reasonably possible changes in the values of investments will occur in the near term and such changes could materially affect the amounts reported in the Plan assets. | ||||||||||||||||||
The investment objective of the Plan is to maximize the return on Plan assets over a long time period, while meeting the Plan obligations. At December 31, 2014, Plan assets were invested 2% in cash and cash equivalents, 49% in equity investments, and 49% in bonds, with an average duration of 12.4 years on bond investments. The estimated life of benefit obligations was 12.8 years. Although it may fluctuate with market conditions, Management has targeted a long-term allocation of Plan assets of 20% to 50% in equity investments and 80% to 50% in bond investments. The allocation of Plan assets between equity investments and fixed income investments will change from time to time with the allocation to fixed income investments increasing as the funding level increases. | ||||||||||||||||||
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) | 2014 | 2013 | ||||||||||||||||
Shares in Huntington common stock (1) | --- | 2,095,304 | ||||||||||||||||
Dividends received on shares of Huntington stock | $ | 267 | $ | 992 | ||||||||||||||
(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. | ||||||||||||||||||
At December 31, 2014, the following table shows when benefit payments were expected to be paid: | ||||||||||||||||||
Post- | ||||||||||||||||||
Pension | Retirement | |||||||||||||||||
(dollar amounts in thousands) | Benefits | Benefits | ||||||||||||||||
2015 | $ | 48,851 | $ | 1,419 | ||||||||||||||
2016 | 48,416 | 1,329 | ||||||||||||||||
2017 | 45,378 | 1,235 | ||||||||||||||||
2018 | 43,332 | 1,154 | ||||||||||||||||
2019 | 43,238 | 1,098 | ||||||||||||||||
2020 through 2024 | 209,153 | 4,997 | ||||||||||||||||
Although not required, Huntington may choose to make a cash contribution to the Plan up to the maximum deductible limit in the 2014 plan year. Anticipated contributions for 2015 to the post-retirement benefit plan are $1.4 million. | ||||||||||||||||||
The assumed healthcare cost trend rate has an effect on the amounts reported. A one percentage point increase would increase the accumulated post-retirement benefit obligation by $7.6 thousand and would increase interest costs by $3.5 thousand. A one percentage point decrease would decrease the accumulated post-retirement benefit obligation by $7.1 thousand and would decrease interest costs by $2.9 thousand. | ||||||||||||||||||
The 2015 and 2014 healthcare cost trend rate was projected to be 7.3% for participants. This rate is assumed to decrease gradually until it reaches 4.5% in the year 2028 and remain at that level thereafter. Huntington updated the immediate healthcare cost trend rate assumption based on current market data and Huntington’s claims experience. This trend rate is expected to decline over time to a trend level consistent with medical inflation and long-term economic assumptions. | ||||||||||||||||||
Huntington also sponsors other nonqualified retirement plans, the most significant being the SERP and the SRIP. The SERP provides certain former officers and directors, and the SRIP provides certain current and former officers and directors of Huntington and its subsidiaries with defined pension benefits in excess of limits imposed by federal tax law. At December 31, 2014 and 2013, Huntington has an accrued pension liability of $35.0 million and $29.2 million, respectively, associated with these plans. Pension expense for the plans was $1.0 million, $4.2 million, and $2.5 million in 2014, 2013, and 2012, respectively. During the 2013 third quarter, the board of directors approved, and management communicated, a curtailment of the Company’s SRIP plan effective December 31, 2013. | ||||||||||||||||||
The following table presents the amounts recognized in the Consolidated Balance Sheets at December 31, 2014 and 2013 for all of Huntington defined benefit plans: | ||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||||||||||||
Accrued expenses and other liabilities | $ | 198,947 | $ | 90,842 | ||||||||||||||
The following tables present the amounts recognized in OCI as of December 31, 2014, 2013, and 2012, and the changes in accumulated OCI for the years ended December 31, 2014, 2013, and 2012: | ||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | |||||||||||||||
Net actuarial loss | $ | -240,197 | $ | -166,078 | $ | -262,187 | ||||||||||||
Prior service cost | 14,517 | 9,855 | 25,788 | |||||||||||||||
Defined benefit pension plans | $ | -225,680 | $ | -156,223 | $ | -236,399 | ||||||||||||
2014 | ||||||||||||||||||
(dollar amounts in thousands) | Pretax | Benefit | After-tax | |||||||||||||||
Balance, beginning of year | $ | -240,345 | $ | 84,122 | $ | -156,223 | ||||||||||||
Net actuarial (loss) gain: | ||||||||||||||||||
Amounts arising during the year | -133,085 | 46,580 | -86,505 | |||||||||||||||
Amortization included in net periodic benefit costs | 19,056 | -6,670 | 12,386 | |||||||||||||||
Prior service cost: | ||||||||||||||||||
Amounts arising during the year | 8,781 | -3,073 | 5,708 | |||||||||||||||
Amortization included in net periodic benefit costs | -1,609 | 563 | -1,046 | |||||||||||||||
Transition obligation: | ||||||||||||||||||
Amortization included in net periodic benefit costs | --- | --- | --- | |||||||||||||||
Balance, end of year | $ | -347,202 | $ | 121,522 | $ | -225,680 | ||||||||||||
2013 | ||||||||||||||||||
(dollar amounts in thousands) | Pretax | Benefit | After-tax | |||||||||||||||
Balance, beginning of year | $ | -363,691 | $ | 127,292 | $ | -236,399 | ||||||||||||
Net actuarial (loss) gain: | ||||||||||||||||||
Amounts arising during the year | 118,666 | -41,532 | 77,134 | |||||||||||||||
Amortization included in net periodic benefit costs | 29,194 | -10,218 | 18,976 | |||||||||||||||
Prior service cost: | ||||||||||||||||||
Amounts arising during the year | --- | --- | --- | |||||||||||||||
Amortization included in net periodic benefit costs | -24,514 | 8,580 | -15,934 | |||||||||||||||
Transition obligation: | ||||||||||||||||||
Amortization included in net periodic benefit costs | --- | --- | --- | |||||||||||||||
Balance, end of year | $ | -240,345 | $ | 84,122 | $ | -156,223 | ||||||||||||
2012 | ||||||||||||||||||
(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 | ||||||||||||
Huntington has a defined contribution plan that is available to eligible employees. Through December 31, 2012, Huntington matched participant contributions, up to the first 3% of base pay contributed to the Plan. Half of the employee contribution was matched on the 4th and 5th percent of base pay contributed to the Plan. Starting January 1, 2013, Huntington matched participant contributions, up to the first 4% of base pay contributed to the Plan. For 2014, a discretionary profit-sharing contribution equal to1% of eligible participants’ 2014 base pay was awarded. | ||||||||||||||||||
The following table shows the costs of providing the defined contribution plan as of December 31: | ||||||||||||||||||
Year ended December 31, | ||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | |||||||||||||||
Defined contribution plan | $ | 31,110 | $ | 18,238 | $ | 16,926 | ||||||||||||
The following table shows the number of shares, market value, and dividends received on shares of Huntington stock held by the defined contribution plan: | ||||||||||||||||||
December 31, | ||||||||||||||||||
(dollar amounts in thousands, except share amounts) | 2014 | 2013 | ||||||||||||||||
Shares in Huntington common stock | 12,883,333 | 13,624,429 | ||||||||||||||||
Market value of Huntington common stock | $ | 135,533 | $ | 131,476 | ||||||||||||||
Dividends received on shares of Huntington stock | 2,694 | 2,567 | ||||||||||||||||
Fair_Values_of_Assets_and_Liab
Fair Values of Assets and Liabilities | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Fair Values of Assets and Liabilities [Abstract] | |||||||||||||||||||
FAIR VALUES OF ASSETS AND LIABILITIES | 17. Fair Values of assets and liabilities | ||||||||||||||||||
Following is a description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy. | |||||||||||||||||||
Mortgage loans held for sale | |||||||||||||||||||
Huntington elected to apply the fair value option for mortgage loans originated with the intent to sell which are included in loans held for sale. Mortgage loans held for sale are classified as Level 2 and are estimated using security prices for similar product types. | |||||||||||||||||||
Available-for-sale securities and trading account securities | |||||||||||||||||||
Securities accounted for at fair value include both the available-for-sale and trading portfolios. Huntington uses prices obtained from third party pricing services and recent trades to determine the fair value of securities. AFS and trading securities are classified as Level 1 using quoted market prices (unadjusted) in active markets for identical securities that Huntington has the ability to access at the measurement date. Less than 1% of the positions in these portfolios are Level 1, and consist of U.S. Treasury securities and money market mutual funds. When quoted market prices are not available, fair values are classified as Level 2 using quoted prices for similar assets in active markets, quoted prices of identical or similar assets in markets that are not active, and inputs that are observable for the asset, either directly or indirectly, for substantially the full term of the financial instrument. 83% of the positions in these portfolios are Level 2, and consist of U.S. Government and agency debt securities, agency mortgage backed securities, asset-backed securities, municipal securities and other securities. For both Level 1 and Level 2 securities, management uses various methods and techniques to corroborate prices obtained from the pricing service, including reference to dealer or other market quotes, and by reviewing valuations of comparable instruments. If relevant market prices are limited or unavailable, valuations may require significant management judgment or estimation to determine fair value, in which case the fair values are classified as Level 3. 17% of our positions are Level 3, and consist of non-agency Alt-A asset-backed securities, private-label CMO securities, CDO-preferred securities and municipal securities. A significant change in the unobservable inputs for these securities may result in a significant change in the ending fair value measurement of these securities. | |||||||||||||||||||
The Alt-A, private label CMO and CDO-preferred securities portfolios are classified as Level 3 and as such use significant estimates to determine the fair value of these securities which results in greater subjectivity. The Alt-A and private label CMO securities portfolios are subjected to a monthly review of the projected cash flows, while the cash flows of the CDO-preferred securities portfolio are reviewed quarterly. These reviews are supported with analysis from independent third parties, and are used as a basis for impairment analysis. | |||||||||||||||||||
Alt-A mortgage-backed and private-label CMO securities are collateralized by first-lien residential mortgage loans. The securities valuation methodology incorporates values obtained from a third-party pricing specialist using a discounted cash flow approach and a proprietary pricing model and includes assumptions management believes market participants would use to value the securities under current market conditions. The model uses inputs such as estimated prepayment speeds, losses, recoveries, default rates that are implied by the underlying performance of collateral in the structure or similar structures, house price depreciation / appreciation rates that are based upon macroeconomic forecasts and discount rates that are implied by market prices for similar securities with similar collateral structures. The remaining Alt-A mortgage-backed securities were sold during the third quarter of 2014. | |||||||||||||||||||
CDO-preferred securities are CDOs backed by a pool of debt securities issued by financial institutions. The collateral generally consists of trust-preferred securities and subordinated debt securities issued by banks, bank holding companies, and insurance companies. A full cash flow analysis is used to estimate fair values and assess impairment for each security within this portfolio. We engage a third-party pricing specialist with direct industry experience in CDO-preferred securities valuations to provide assistance in estimating the fair value and expected cash flows for each security in this portfolio. The PD of each issuer and the market discount rate are the most significant inputs in determining fair value. Management evaluates the PD assumptions provided by the third-party pricing specialist by comparing the current PD to the assumptions used the previous quarter, actual defaults and deferrals in the current period, and trend data on certain financial ratios of the issuers. Huntington also evaluates the assumptions related to discount rates. Relying on cash flows is necessary because there was a lack of observable transactions in the market and many of the original sponsors or dealers for these securities are no longer able to provide a fair value. | |||||||||||||||||||
Huntington utilizes the same processes to determine the fair value of investment securities classified as held-to-maturity for impairment evaluation purposes. | |||||||||||||||||||
Automobile loans | |||||||||||||||||||
Effective January 1, 2010, Huntington consolidated an automobile loan securitization that previously had been accounted for as an off-balance sheet transaction. As a result, Huntington elected to account for these automobile loan receivables at fair value per guidance supplied in ASC 825. The automobile loan receivables are classified as Level 3. The key assumptions used to determine the fair value of the automobile loan receivables included projections of expected losses and prepayment of the underlying loans in the portfolio and a market assumption of interest rate spreads. Certain interest rates are available from similarly traded securities while other interest rates are developed internally based on similar asset-backed security transactions in the market. During the first quarter of 2014 Huntington cancelled the 2009 and 2006 Automobile Trust. Huntington continues to report the associated automobile loan receivables at fair value due to its 2010 election. | |||||||||||||||||||
MSRs | |||||||||||||||||||
MSRs do not trade in an active market with readily observable prices. Accordingly, the fair value of these assets is classified as Level 3. Huntington determines the fair value of MSRs using an income approach model based upon our month-end interest rate curve and prepayment assumptions. The model utilizes assumptions to estimate future net servicing income cash flows, including estimates of time decay, payoffs, and changes in valuation inputs and assumptions. Servicing brokers and other sources of information (e.g. discussion with other mortgage servicers and industry surveys) are used to obtain information on market practice and assumptions. On at least a quarterly basis, third party marks are obtained from at least one service broker. Huntington reviews the valuation assumptions against this market data for reasonableness and adjusts the assumptions if deemed appropriate. Any recommended change in assumptions and / or inputs are presented for review to the Mortgage Price Risk Subcommittee for final approval. | |||||||||||||||||||
Derivatives | |||||||||||||||||||
Derivatives classified as Level 2 consist of foreign exchange and commodity contracts, which are valued using exchange traded swaps and futures market data. In addition, Level 2 includes interest rate contracts, which are valued using a discounted cash flow method that incorporates current market interest rates. Level 2 also includes exchange traded options and forward commitments to deliver mortgage-backed securities, which are valued using quoted prices. | |||||||||||||||||||
Derivatives classified as Level 3 consist primarily of interest rate lock agreements related to mortgage loan commitments. The determination of fair value includes assumptions related to the likelihood that a commitment will ultimately result in a closed loan, which is a significant unobservable assumption. A significant increase or decrease in the external market price would result in a significantly higher or lower fair value measurement. | |||||||||||||||||||
Assets and Liabilities measured at fair value on a recurring basis | |||||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis at December 31, 2014 and 2013 are summarized below: | |||||||||||||||||||
Fair Value Measurements at Reporting Date Using | Netting | Balance at | |||||||||||||||||
(dollar amounts in thousands) | Level 1 | Level 2 | Level 3 | Adjustments (1) | 31-Dec-14 | ||||||||||||||
Assets | |||||||||||||||||||
Loans held for sale | $ | --- | $ | 354,888 | $ | --- | $ | --- | $ | 354,888 | |||||||||
Loans held for investment | --- | 40,027 | --- | --- | 40,027 | ||||||||||||||
Trading account securities: | |||||||||||||||||||
Federal agencies: Mortgage-backed | --- | --- | --- | --- | --- | ||||||||||||||
Federal agencies: Other agencies | --- | 2,857 | --- | --- | 2,857 | ||||||||||||||
Municipal securities | --- | 5,098 | --- | --- | 5,098 | ||||||||||||||
Other securities | 33,121 | 1,115 | --- | --- | 34,236 | ||||||||||||||
33,121 | 9,070 | --- | --- | 42,191 | |||||||||||||||
Available-for-sale and other securities: | |||||||||||||||||||
U.S. Treasury securities | 5,452 | --- | --- | --- | 5,452 | ||||||||||||||
Federal agencies: Mortgage-backed | --- | 5,322,701 | --- | --- | 5,322,701 | ||||||||||||||
Federal agencies: Other agencies | --- | 351,543 | --- | --- | 351,543 | ||||||||||||||
Municipal securities | --- | 450,976 | 1,417,593 | --- | 1,868,569 | ||||||||||||||
Private-label CMO | --- | 11,462 | 30,464 | --- | 41,926 | ||||||||||||||
Asset-backed securities | --- | 873,260 | 82,738 | --- | 955,998 | ||||||||||||||
Corporate debt | --- | 486,176 | --- | --- | 486,176 | ||||||||||||||
Other securities | 17,430 | 3,316 | --- | --- | 20,746 | ||||||||||||||
22,882 | 7,499,434 | 1,530,795 | --- | 9,053,111 | |||||||||||||||
Automobile loans | --- | --- | 10,590 | --- | 10,590 | ||||||||||||||
MSRs | --- | --- | 22,786 | --- | 22,786 | ||||||||||||||
Derivative assets | --- | 449,775 | 4,064 | -101,197 | 352,642 | ||||||||||||||
Liabilities | |||||||||||||||||||
Derivative liabilities | --- | 335,524 | 704 | -51,973 | 284,255 | ||||||||||||||
Short-term borrowings | --- | 2,295 | --- | --- | 2,295 | ||||||||||||||
Fair Value Measurements at Reporting Date Using | Netting | Balance at | |||||||||||||||||
(dollar amounts in thousands) | Level 1 | Level 2 | Level 3 | Adjustments (1) | 31-Dec-13 | ||||||||||||||
Assets | |||||||||||||||||||
Mortgage loans held for sale | $ | --- | $ | 278,928 | $ | --- | $ | --- | $ | 278,928 | |||||||||
Trading account securities: | |||||||||||||||||||
Federal agencies: Mortgage-backed | --- | --- | --- | --- | --- | ||||||||||||||
Federal agencies: Other agencies | --- | 834 | --- | --- | 834 | ||||||||||||||
Municipal securities | --- | 2,180 | --- | --- | 2,180 | ||||||||||||||
Other securities | 32,081 | 478 | --- | --- | 32,559 | ||||||||||||||
32,081 | 3,492 | --- | --- | 35,573 | |||||||||||||||
Available-for-sale and other securities: | |||||||||||||||||||
U.S. Treasury securities | 51,604 | --- | --- | --- | 51,604 | ||||||||||||||
Federal agencies: Mortgage-backed (2) | --- | 3,566,221 | --- | --- | 3,566,221 | ||||||||||||||
Federal agencies: Other agencies | --- | 319,888 | --- | --- | 319,888 | ||||||||||||||
Municipal securities | --- | 491,455 | 654,537 | --- | 1,145,992 | ||||||||||||||
Private-label CMO | --- | 16,964 | 32,140 | --- | 49,104 | ||||||||||||||
Asset-backed securities | --- | 983,621 | 107,419 | --- | 1,091,040 | ||||||||||||||
Covered bonds | --- | 285,874 | --- | --- | 285,874 | ||||||||||||||
Corporate debt | --- | 457,240 | --- | --- | 457,240 | ||||||||||||||
Other securities | 16,971 | 3,828 | --- | --- | 20,799 | ||||||||||||||
68,575 | 6,125,091 | 794,096 | --- | 6,987,762 | |||||||||||||||
Automobile loans | --- | --- | 52,286 | --- | 52,286 | ||||||||||||||
MSRs | --- | --- | 34,236 | --- | 34,236 | ||||||||||||||
Derivative assets | 36,774 | 219,045 | 3,066 | -58,856 | 200,029 | ||||||||||||||
Liabilities | |||||||||||||||||||
Derivative liabilities | 22,787 | 124,123 | 676 | -18,312 | 129,274 | ||||||||||||||
Short-term borrowings | --- | 1,089 | --- | --- | 1,089 | ||||||||||||||
(1) Amounts represent the impact of legally enforceable master netting agreements that allow the Company to settle positive and negative positions and cash collateral held or placed with the same counterparties. | |||||||||||||||||||
(2) During 2013, Huntington transferred $292.2 million of federal agencies: mortgage-backed securities from the available-for-sale securities portfolio to the held-to-maturity securities portfolio. These securities are valued at amortized cost and no longer classified within the fair value hierarchy. All securities were previously classified as Level 2 in the fair value hierarchy. | |||||||||||||||||||
The tables below present a rollforward of the balance sheet amounts for the years ended December 31, 2014, 2013, and 2012 for financial instruments measured on a recurring basis and classified as Level 3. The classification of an item as Level 3 is based on the significance of the unobservable inputs to the overall fair value measurement. However, Level 3 measurements may also include observable components of value that can be validated externally. Accordingly, the gains and losses in the table below include changes in fair value due in part to observable factors that are part of the valuation methodology: | |||||||||||||||||||
Level 3 Fair Value Measurements | |||||||||||||||||||
Year ended December 31, 2014 | |||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||
Asset- | |||||||||||||||||||
Derivative | Municipal | Private- | backed | Automobile | |||||||||||||||
(dollar amounts in thousands) | MSRs | instruments | securities | label CMO | securities | loans | |||||||||||||
Balance, beginning of year | $ | 34,236 | $ | 2,390 | $ | 654,537 | $ | 32,140 | $ | 107,419 | $ | 52,286 | |||||||
Total gains / losses: | |||||||||||||||||||
Included in earnings | -11,450 | 3,047 | --- | 36 | 226 | -918 | |||||||||||||
Included in OCI | --- | --- | 14,776 | 452 | 21,839 | --- | |||||||||||||
Purchases | --- | --- | 1,038,348 | --- | --- | --- | |||||||||||||
Sales | --- | --- | --- | --- | -22,870 | --- | |||||||||||||
Repayments | --- | --- | --- | --- | --- | -40,778 | |||||||||||||
Settlements | --- | -2,077 | -290,068 | -2,164 | -23,876 | --- | |||||||||||||
Balance, end of year | $ | 22,786 | $ | 3,360 | $ | 1,417,593 | $ | 30,464 | $ | 82,738 | $ | 10,590 | |||||||
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date | $ | -11,450 | $ | 3,047 | $ | 14,776 | $ | 452 | $ | 21,137 | $ | -1,624 | |||||||
Level 3 Fair Value Measurements | |||||||||||||||||||
Year ended December 31, 2013 | |||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||
Asset- | |||||||||||||||||||
Derivative | Municipal | Private | backed | Automobile | |||||||||||||||
(dollar amounts in thousands) | MSRs | instruments | securities | label CMO | securities | loans | |||||||||||||
Balance, beginning of year | $ | 35,202 | $ | 12,702 | $ | 61,228 | $ | 48,775 | $ | 110,037 | $ | 142,762 | |||||||
Total gains / losses: | |||||||||||||||||||
Included in earnings | -966 | -5,944 | 2,129 | -180 | -2,244 | -358 | |||||||||||||
Included in OCI | --- | --- | 9,075 | 1,703 | 35,139 | --- | |||||||||||||
Other (1) | --- | --- | 600,435 | --- | --- | --- | |||||||||||||
Sales | --- | --- | --- | -10,254 | -16,711 | --- | |||||||||||||
Repayments | --- | --- | --- | --- | --- | -90,118 | |||||||||||||
Settlements | --- | -4,368 | -18,330 | -7,904 | -18,802 | --- | |||||||||||||
Balance, end of year | $ | 34,236 | $ | 2,390 | $ | 654,537 | $ | 32,140 | $ | 107,419 | $ | 52,286 | |||||||
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date | $ | -966 | $ | -5,944 | $ | 9,075 | $ | 1,703 | $ | 35,139 | $ | -358 | |||||||
Level 3 Fair Value Measurements | |||||||||||||||||||
Year ended December 31, 2012 | |||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||
Asset- | |||||||||||||||||||
Derivative | Municipal | Private | backed | Automobile | |||||||||||||||
(dollar amounts in thousands) | MSRs | instruments | securities | label CMO | securities | loans | |||||||||||||
Balance, beginning of year | $ | 65,001 | $ | -169 | $ | 95,092 | $ | 72,364 | $ | 121,698 | $ | 296,250 | |||||||
Total gains / losses: | |||||||||||||||||||
Included in earnings | -29,799 | 10,617 | --- | -796 | -59 | -1,230 | |||||||||||||
Included in OCI | --- | --- | -1,637 | 8,245 | 23,138 | --- | |||||||||||||
Sales | --- | --- | -3,040 | -15,183 | -20,852 | --- | |||||||||||||
Repayments | --- | --- | --- | --- | --- | -152,258 | |||||||||||||
Settlements | --- | 2,254 | -29,187 | -15,855 | -13,888 | --- | |||||||||||||
Balance, end of year | $ | 35,202 | $ | 12,702 | $ | 61,228 | $ | 48,775 | $ | 110,037 | $ | 142,762 | |||||||
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date | $ | -29,799 | $ | 5,818 | $ | -1,637 | $ | 8,245 | $ | 23,138 | $ | -1,230 | |||||||
(1) Effective December 31, 2013 approximately $600.4 million of direct purchase municipal instruments were reclassified from C&I loans to available-for-sale securities. | |||||||||||||||||||
The tables below summarize the classification of gains and losses due to changes in fair value, recorded in earnings for Level 3 assets and liabilities for the years ended December 31, 2014, 2013, and 2012: | |||||||||||||||||||
Level 3 Fair Value Measurements | |||||||||||||||||||
Year ended December 31, 2014 | |||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||
Asset- | |||||||||||||||||||
Derivative | Municipal | Private | backed | Automobile | |||||||||||||||
(dollar amounts in thousands) | MSRs | instruments | securities | label CMO | securities | loans | |||||||||||||
Classification of gains and losses in earnings: | |||||||||||||||||||
Mortgage banking income (loss) | $ | -11,450 | $ | 3,047 | $ | --- | $ | --- | $ | --- | $ | --- | |||||||
Securities gains (losses) | --- | --- | --- | --- | 170 | --- | |||||||||||||
Interest and fee income | --- | --- | --- | 36 | 56 | -1,032 | |||||||||||||
Noninterest income | --- | --- | --- | --- | --- | 114 | |||||||||||||
Total | $ | -11,450 | $ | 3,047 | $ | --- | $ | 36 | $ | 226 | $ | -918 | |||||||
Level 3 Fair Value Measurements | |||||||||||||||||||
Year ended December 31, 2013 | |||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||
Asset- | |||||||||||||||||||
Derivative | Municipal | Private | backed | Automobile | |||||||||||||||
(dollar amounts in thousands) | MSRs | instruments | securities | label CMO | securities | loans | |||||||||||||
Classification of gains and losses in earnings: | |||||||||||||||||||
Mortgage banking income (loss) | $ | -966 | $ | -5,944 | $ | --- | $ | --- | $ | --- | $ | --- | |||||||
Securities gains (losses) | --- | --- | --- | -336 | -1,466 | --- | |||||||||||||
Interest and fee income | --- | --- | 2,129 | 156 | -778 | -3,569 | |||||||||||||
Noninterest income | --- | --- | --- | --- | --- | 3,211 | |||||||||||||
Total | $ | -966 | $ | -5,944 | $ | 2,129 | $ | -180 | $ | -2,244 | $ | -358 | |||||||
Level 3 Fair Value Measurements | |||||||||||||||||||
Year ended December 31, 2012 | |||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||
Asset- | |||||||||||||||||||
Derivative | Municipal | Private | backed | Automobile | |||||||||||||||
(dollar amounts in thousands) | MSRs | instruments | securities | label CMO | securities | loans | |||||||||||||
Classification of gains and losses in earnings: | |||||||||||||||||||
Mortgage banking income (loss) | $ | -29,799 | $ | 10,617 | $ | --- | $ | --- | $ | --- | $ | --- | |||||||
Securities gains (losses) | --- | --- | --- | -1,614 | --- | --- | |||||||||||||
Interest and fee income | --- | --- | --- | 818 | -59 | -6,950 | |||||||||||||
Noninterest income | --- | --- | --- | --- | --- | 5,720 | |||||||||||||
Total | $ | -29,799 | $ | 10,617 | $ | --- | $ | -796 | $ | -59 | $ | -1,230 | |||||||
Assets and liabilities under the fair value option | |||||||||||||||||||
The following table presents the fair value and aggregate principal balance of certain assets and liabilities under the fair value option: | |||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||
Fair value | Aggregate | Fair value | Aggregate | ||||||||||||||||
carrying | unpaid | carrying | unpaid | ||||||||||||||||
(dollar amounts in thousands) | amount | principal | Difference | amount | principal | Difference | |||||||||||||
Assets | |||||||||||||||||||
Loans held for sale | $ | 354,888 | $ | 340,070 | $ | 14,818 | $ | 278,928 | $ | 276,945 | $ | 1,983 | |||||||
Loans held for investment | 40,027 | 40,938 | -911 | --- | --- | --- | |||||||||||||
Automobile loans | 10,590 | 10,022 | 568 | 52,286 | 50,800 | 1,486 | |||||||||||||
The following tables present the net gains (losses) from fair value changes, including net gains (losses) associated with instrument specific credit risk for the years ended December 31, 2014, 2013 and 2012: | |||||||||||||||||||
Net gains (losses) from fair value changes | |||||||||||||||||||
Year ended December 31, | |||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | ||||||||||||||||
Assets | |||||||||||||||||||
Mortgage loans held for sale | $ | -1,978 | $ | -12,711 | $ | 4,284 | |||||||||||||
Automobile loans | -918 | -360 | -1,231 | ||||||||||||||||
Liabilities | |||||||||||||||||||
Securitization trust notes payable | --- | --- | -2,023 | ||||||||||||||||
Gains (losses) included in fair value changes | |||||||||||||||||||
associated with instrument specific credit risk | |||||||||||||||||||
Year ended December 31, | |||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | ||||||||||||||||
Assets | |||||||||||||||||||
Automobile loans | $ | 911 | $ | 2,207 | $ | 2,749 | |||||||||||||
Assets and Liabilities measured at fair value on a nonrecurring basis | |||||||||||||||||||
Certain assets and liabilities may be required to be measured at fair value on a nonrecurring basis in periods subsequent to their initial recognition. These assets and liabilities are not measured at fair value on an ongoing basis; however, they are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment. For the year ended December 31, 2014, assets measured at fair value on a nonrecurring basis were as follows: | |||||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||||
Quoted Prices | Significant | Significant | Total | ||||||||||||||||
In Active | Other | Other | Gains/(Losses) | ||||||||||||||||
Markets for | Observable | Unobservable | For the | ||||||||||||||||
Fair Value at | Identical Assets | Inputs | Inputs | Year Ended | |||||||||||||||
(dollar amounts in thousands) | December 31, | (Level 1) | (Level 2) | (Level 3) | December 31, | ||||||||||||||
2014 | |||||||||||||||||||
Impaired loans | $ | 52,911 | $ | --- | $ | --- | $ | 52,911 | $ | -53,660 | |||||||||
Other real estate owned | 35,039 | --- | --- | 35,039 | $ | -4,021 | |||||||||||||
Periodically, Huntington records nonrecurring adjustments of collateral-dependent loans measured for impairment when establishing the ACL. Such amounts are generally based on the fair value of the underlying collateral supporting the loan. Appraisals are generally obtained to support the fair value of the collateral and incorporate measures such as recent sales prices for comparable properties and cost of construction. In cases where the carrying value exceeds the fair value of the collateral less cost to sell, an impairment charge is recognized. Appraisals are reviewed and approved by Huntington. | |||||||||||||||||||
Other real estate owned properties are included in accrued income and other assets and valued based on appraisals and third party price opinions, less estimated selling costs. | |||||||||||||||||||
Significant unobservable inputs for assets and liabilities measured at fair value on a recurring and nonrecurring basis | |||||||||||||||||||
The table below presents quantitative information about the significant unobservable inputs for assets and liabilities measured at fair value on a recurring and nonrecurring basis at December 31, 2014: | |||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||||
(dollar amounts in thousands) | Fair Value at | Valuation | Significant | Range | |||||||||||||||
31-Dec-14 | Technique | Unobservable Input | (Weighted Average) | ||||||||||||||||
MSRs | $ | 22,786 | Discounted cash flow | Constant prepayment rate (CPR) | 7% - 26% (16%) | ||||||||||||||
Spread over forward interest rate swap rates | 228 - 900 (546) | ||||||||||||||||||
Net costs to service | $21 - $79 ($40) | ||||||||||||||||||
Derivative assets | 4,064 | Consensus Pricing | Net market price | -5.09% - 17.46% (1.7%) | |||||||||||||||
Derivative liabilities | 704 | Estimated Pull thru % | 38% - 91% (75%) | ||||||||||||||||
Municipal securities | 1,417,593 | Discounted cash flow | Discount rate | 0.5% - 4.9% (2.5%) | |||||||||||||||
Private-label CMO | 30,464 | Discounted cash flow | Discount rate | 2.7% - 7.2% (6.0%) | |||||||||||||||
Constant prepayment rate (CPR) | 13.6% - 32.6% (20.7%) | ||||||||||||||||||
Probability of default | 0.1% - 4.0% (0.7%) | ||||||||||||||||||
Loss Severity | 0.0% - 64.0% (33.9%) | ||||||||||||||||||
Asset-backed securities | 82,738 | Discounted cash flow | Discount rate | 4.3% - 13.3% (7.3%) | |||||||||||||||
Cumulative prepayment rate | 0.0% - 100% (10.1%) | ||||||||||||||||||
Cumulative default | 1.9% - 100% (15.9%) | ||||||||||||||||||
Loss given default | 20% - 100% (94.4%) | ||||||||||||||||||
Cure given deferral | 0.0% - 75% (32.6%) | ||||||||||||||||||
Automobile loans | 10,590 | Discounted cash flow | Constant prepayment rate (CPR) | 154.20% | |||||||||||||||
Discount rate | 0.2% - 5.0% (2.3%) | ||||||||||||||||||
Life of pool cumulative losses | 2.10% | ||||||||||||||||||
Impaired loans | 52,911 | Appraisal value | NA | NA | |||||||||||||||
Other real estate owned | 35,039 | Appraisal value | NA | NA | |||||||||||||||
The following provides a general description of the impact of a change in an unobservable input on the fair value measurement and the interrelationship between unobservable inputs, where relevant/significant. Interrelationships may also exist between observable and unobservable inputs. Such relationships have not been included in the discussion below. | |||||||||||||||||||
A significant change in the unobservable inputs may result in a significant change in the ending fair value measurement of Level 3 instruments. In general, prepayment rates increase when market interest rates decline and decrease when market interest rates rise and higher prepayment rates generally result in lower fair values for MSR assets, Private-label CMO securities, Asset-backed securities, and Automobile loans. | |||||||||||||||||||
Credit loss estimates, such as probability of default, constant default, cumulative default, loss given default, cure given deferral, and loss severity, are driven by the ability of the borrowers to pay their loans and the value of the underlying collateral and are impacted by changes in macroeconomic conditions, typically increasing when economic conditions worsen and decreasing when conditions improve. An increase in the estimated prepayment rate typically results in a decrease in estimated credit losses and vice versa. Higher credit loss estimates generally result in lower fair values. Credit spreads generally increase when liquidity risks and market volatility increase and decrease when liquidity conditions and market volatility improve. | |||||||||||||||||||
Discount rates and spread over forward interest rate swap rates typically increase when market interest rates increase and/or credit and liquidity risks increase and decrease when market interest rates decline and/or credit and liquidity conditions improve. Higher discount rates and credit spreads generally result in lower fair market values. | |||||||||||||||||||
Net market price and pull through percentages generally increase when market interest rates increase and decline when market interest rates decline. Higher net market price and pull through percentages generally result in higher fair values. | |||||||||||||||||||
Fair values of financial instruments | |||||||||||||||||||
The following table provides the carrying amounts and estimated fair values of Huntington’s financial instruments that are carried either at fair value or cost at December 31, 2014 and December 31, 2013: | |||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||||
(dollar amounts in thousands) | Amount | Value | Amount | Value | |||||||||||||||
Financial Assets: | |||||||||||||||||||
Cash and short-term assets | $ | 1,285,124 | $ | 1,285,124 | $ | 1,058,175 | $ | 1,058,175 | |||||||||||
Trading account securities | 42,191 | 42,191 | 35,573 | 35,573 | |||||||||||||||
Loans held for sale | 416,327 | 416,327 | 326,212 | 326,212 | |||||||||||||||
Available-for-sale and other securities | 9,384,670 | 9,384,670 | 7,308,753 | 7,308,753 | |||||||||||||||
Held-to-maturity securities | 3,379,905 | 3,382,715 | 3,836,667 | 3,760,898 | |||||||||||||||
Net loans and direct financing leases | 47,050,530 | 45,110,406 | 42,472,630 | 40,976,014 | |||||||||||||||
Derivatives | 352,642 | 352,642 | 200,029 | 200,029 | |||||||||||||||
Financial Liabilities: | |||||||||||||||||||
Deposits | 51,732,151 | 52,454,804 | 47,506,718 | 48,132,550 | |||||||||||||||
Short-term borrowings | 2,397,101 | 2,397,101 | 2,352,143 | 2,343,552 | |||||||||||||||
Long term debt | 4,335,962 | 4,286,304 | 2,458,272 | 2,424,564 | |||||||||||||||
Derivatives | 284,255 | 284,255 | 129,274 | 129,274 | |||||||||||||||
The following table presents the level in the fair value hierarchy for the estimated fair values of only Huntington’s financial instruments that are not already on the Consolidated Balance Sheets at fair value at December 31, 2014 and December 31, 2013: | |||||||||||||||||||
Estimated Fair Value Measurements at Reporting Date Using | Balance at | ||||||||||||||||||
(dollar amounts in thousands) | Level 1 | Level 2 | Level 3 | 31-Dec-14 | |||||||||||||||
Financial Assets | |||||||||||||||||||
Held-to-maturity securities | $ | --- | $ | 3,382,715 | $ | --- | $ | 3,382,715 | |||||||||||
Net loans and direct financing leases | --- | --- | 45,110,406 | 45,110,406 | |||||||||||||||
Financial liabilities | |||||||||||||||||||
Deposits | --- | 48,183,798 | 4,271,006 | 52,454,804 | |||||||||||||||
Short-term borrowings | --- | --- | 2,397,101 | 2,397,101 | |||||||||||||||
Long-term debt | --- | --- | 4,286,304 | 4,286,304 | |||||||||||||||
Estimated Fair Value Measurements at Reporting Date Using | Balance at | ||||||||||||||||||
(dollar amounts in thousands) | Level 1 | Level 2 | Level 3 | 31-Dec-13 | |||||||||||||||
Financial Assets | |||||||||||||||||||
Held-to-maturity securities | $ | --- | $ | 3,760,898 | $ | --- | $ | 3,760,898 | |||||||||||
Net loans and direct financing leases | --- | --- | 40,976,014 | 40,976,014 | |||||||||||||||
Financial liabilities | |||||||||||||||||||
Deposits | --- | 42,279,542 | 5,853,008 | 48,132,550 | |||||||||||||||
Short-term borrowings | --- | --- | 2,343,552 | 2,343,552 | |||||||||||||||
Long-term debt | --- | --- | 2,424,564 | 2,424,564 | |||||||||||||||
The short-term nature of certain assets and liabilities result in their carrying value approximating fair value. These include trading account securities, customers’ acceptance liabilities, short-term borrowings, bank acceptances outstanding, FHLB advances, and cash and short-term assets, which include cash and due from banks, interest-bearing deposits in banks, and federal funds sold and securities purchased under resale agreements. Loan commitments and letters of credit generally have short-term, variable-rate features and contain clauses that limit Huntington’s exposure to changes in customer credit quality. Accordingly, their carrying values, which are immaterial at the respective balance sheet dates, are reasonable estimates of fair value. Not all the financial instruments listed in the table above are subject to the disclosure provisions of ASC Topic 820. | |||||||||||||||||||
Certain assets, the most significant being operating lease assets, bank owned life insurance, and premises and equipment, do not meet the definition of a financial instrument and are excluded from this disclosure. Similarly, mortgage and nonmortgage servicing rights, deposit base, and other customer relationship intangibles are not considered financial instruments and are not included above. Accordingly, this fair value information is not intended to, and does not, represent Huntington’s underlying value. Many of the assets and liabilities subject to the disclosure requirements are not actively traded, requiring fair values to be estimated by Management. These estimations necessarily involve the use of judgment about a wide variety of factors, including but not limited to, relevancy of market prices of comparable instruments, expected future cash flows, and appropriate discount rates. | |||||||||||||||||||
The following methods and assumptions were used by Huntington to estimate the fair value of the remaining classes of financial instruments: | |||||||||||||||||||
Held-to-maturity securities | |||||||||||||||||||
Fair values are determined by using models that are based on security-specific details, as well as relevant industry and economic factors. The most significant of these inputs are quoted market prices, and interest rate spreads on relevant benchmark securities. | |||||||||||||||||||
Loans and Direct Financing Leases | |||||||||||||||||||
Variable-rate loans that reprice frequently are based on carrying amounts, as adjusted for estimated credit losses. The fair values for other loans and leases are estimated using discounted cash flow analyses and employ interest rates currently being offered for loans and leases with similar terms. The rates take into account the position of the yield curve, as well as an adjustment for prepayment risk, operating costs, and profit. This value is also reduced by an estimate of expected losses and the credit risk associated in the loan and lease portfolio. The valuation of the loan portfolio reflected discounts that Huntington believed are consistent with transactions occurring in the market place. | |||||||||||||||||||
Deposits | |||||||||||||||||||
Demand deposits, savings accounts, and money market deposits are, by definition, equal to the amount payable on demand. The fair values of fixed-rate time deposits are estimated by discounting cash flows using interest rates currently being offered on certificates with similar maturities. | |||||||||||||||||||
Debt | |||||||||||||||||||
Fixed-rate, long-term debt is based upon quoted market prices, which are inclusive of Huntington’s credit risk. In the absence of quoted market prices, discounted cash flows using market rates for similar debt with the same maturities are used in the determination of fair value. |
Derivative_Financial_Instrumen
Derivative Financial Instruments | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Derivative Financial Instruments [Abstract] | ||||||||||||||||||||
DERIVATIVE FINANCIAL INSTRUMENTS | 18. Derivative Financial Instruments | |||||||||||||||||||
Derivative financial instruments are recorded in the Consolidated Balance Sheets as either an asset or a liability (in accrued income and other assets or accrued expenses and other liabilities, respectively) and measured at fair value. | ||||||||||||||||||||
Derivatives used in Asset and Liability Management Activities | ||||||||||||||||||||
Huntington engages in balance sheet hedging activity, principally for asset liability management purposes, to convert fixed rate assets or liabilities into floating rate or vice versa. Balance sheet hedging activity is arranged to receive hedge accounting treatment and is classified as either fair value or cash flow hedges. Fair value hedges are purchased to convert deposits and subordinated and other long-term debt from fixed-rate obligations to floating rate. Cash flow hedges are used to convert floating rate loans made to customers into fixed rate loans. | ||||||||||||||||||||
The following table presents the gross notional values of derivatives used in Huntington’s asset and liability management activities at December 31, 2014, identified by the underlying interest rate-sensitive instruments: | ||||||||||||||||||||
Fair Value | Cash Flow | |||||||||||||||||||
(dollar amounts in thousands) | Hedges | Hedges | Total | |||||||||||||||||
Instruments associated with: | ||||||||||||||||||||
Loans | $ | --- | $ | 9,300,000 | $ | 9,300,000 | ||||||||||||||
Deposits | 69,100 | --- | 69,100 | |||||||||||||||||
Subordinated notes | 475,000 | --- | 475,000 | |||||||||||||||||
Long-term debt | 2,285,000 | --- | 2,285,000 | |||||||||||||||||
Total notional value at December 31, 2014 | $ | 2,829,100 | $ | 9,300,000 | $ | 12,129,100 | ||||||||||||||
The following table presents additional information about the interest rate swaps used in Huntington’s asset and liability management activities at December 31, 2014: | ||||||||||||||||||||
Average | Weighted-Average | |||||||||||||||||||
Notional | Maturity | Fair | Rate | |||||||||||||||||
(dollar amounts in thousands ) | Value | (years) | Value | Receive | Pay | |||||||||||||||
Asset conversion swaps | ||||||||||||||||||||
Receive fixed - generic | $ | 9,300,000 | 2 | $ | -17,078 | 0.8 | % | 0.24 | % | |||||||||||
Liability conversion swaps | ||||||||||||||||||||
Receive fixed - generic | 2,829,100 | 3.1 | 57,544 | 1.73 | 0.25 | |||||||||||||||
Total swap portfolio | $ | 12,129,100 | 2.2 | $ | 40,466 | 1.02 | % | 0.25 | % | |||||||||||
These derivative financial instruments were entered into for the purpose of managing the interest rate risk of assets and liabilities. Consequently, net amounts receivable or payable on contracts hedging either interest earning assets or interest bearing liabilities were accrued as an adjustment to either interest income or interest expense. The net amounts resulted in an increase to net interest income of $97.6 million, $95.4 million, and $107.5 million for the years ended December 31, 2014, 2013, and 2012, respectively. | ||||||||||||||||||||
In connection with the sale of Huntington's Class B Visa shares, Huntington entered into a swap agreement with the purchaser of the shares. The swap agreement adjusts for dilution in the conversion ratio of Class B shares resulting from the Visa litigation. At December 31, 2014, the fair value of the swap liability of $0.4 million is an estimate of the exposure liability based upon Huntington’s assessment of the potential Visa litigation losses. | ||||||||||||||||||||
The following table presents the fair values at December 31, 2014 and 2013 of Huntington’s derivatives that are designated and not designated as hedging instruments. Amounts in the table below are presented gross without the impact of any net collateral arrangements: | ||||||||||||||||||||
Asset derivatives included in accrued income and other assets | ||||||||||||||||||||
December 31, | ||||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||||||||||||||
Interest rate contracts designated as hedging instruments | $ | 53,114 | $ | 49,998 | ||||||||||||||||
Interest rate contracts not designated as hedging instruments | 183,610 | 169,047 | ||||||||||||||||||
Foreign exchange contracts not designated as hedging instruments | 32,798 | 28,499 | ||||||||||||||||||
Commodity contracts not designated as hedging instruments | 180,218 | 4,278 | ||||||||||||||||||
Total contracts | $ | 449,740 | $ | 251,822 | ||||||||||||||||
Liability derivatives included in accrued expenses and other liabilities | ||||||||||||||||||||
December 31, | ||||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||||||||||||||
Interest rate contracts designated as hedging instruments | $ | 12,648 | $ | 25,321 | ||||||||||||||||
Interest rate contracts not designated as hedging instruments | 110,627 | 99,247 | ||||||||||||||||||
Foreign exchange contracts not designated as hedging instruments | 29,754 | 18,909 | ||||||||||||||||||
Commodity contracts not designated as hedging instruments | 179,180 | 3,838 | ||||||||||||||||||
Total contracts | $ | 332,209 | $ | 147,315 | ||||||||||||||||
The changes in fair value of the fair value hedges are, to the extent that the hedging relationship is effective, recorded through earnings and offset against changes in the fair value of the hedged item. | ||||||||||||||||||||
The following table presents the change in fair value for derivatives designated as fair value hedges as well as the offsetting change in fair value on the hedged item: | ||||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | |||||||||||||||||
Interest rate contracts | ||||||||||||||||||||
Change in fair value of interest rate swaps hedging deposits (1) | $ | -1,045 | $ | -4,006 | $ | -2,526 | ||||||||||||||
Change in fair value of hedged deposits (1) | 1,025 | 4,003 | 2,601 | |||||||||||||||||
Change in fair value of interest rate swaps hedging subordinated notes (2) | 476 | -44,699 | 1,432 | |||||||||||||||||
Change in fair value of hedged subordinated notes (2) | -476 | 44,699 | -1,432 | |||||||||||||||||
Change in fair value of interest rate swaps hedging other long-term debt (2) | 1,990 | -5,716 | 114 | |||||||||||||||||
Change in fair value of hedged other long-term debt (2) | 828 | 6,843 | -114 | |||||||||||||||||
(1) Effective portion of the hedging relationship is recognized in Interest expense - deposits in the Consolidated Statements of Income. Any resulting ineffective portion of the hedging relationship is recognized in noninterest income in the Consolidated Statements of Income. | ||||||||||||||||||||
(2) Effective portion of the hedging relationship is recognized in Interest expense - subordinated notes and other-long-term debt in the Consolidated Statements of Income. Any resulting ineffective portion of the hedging relationship is recognized in noninterest income in the Consolidated Statements of Income. | ||||||||||||||||||||
To the extent these derivatives are effective in offsetting the variability of the hedged cash flows, changes in the derivatives’ fair value will not be included in current earnings but are reported as a component of OCI in the Consolidated Statements of Shareholders’ Equity. These changes in fair value will be included in earnings of future periods when earnings are also affected by the changes in the hedged cash flows. To the extent these derivatives are not effective, changes in their fair values are immediately included in noninterest income. | ||||||||||||||||||||
The following table presents the gains and (losses) recognized in OCI and the location in the Consolidated Statements of Income of gains and (losses) reclassified from OCI into earnings for derivatives designated as effective cash flow hedges: | ||||||||||||||||||||
Derivatives in cash flow hedging relationships | Amount of gain or (loss) recognized in OCI on derivatives (effective portion) | Location of gain or (loss) reclassified from accumulated OCI into earnings (effective portion) | Amount of (gain) or loss reclassified from accumulated OCI into earnings (effective portion) (pre-tax) | |||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||
Interest rate contracts | ||||||||||||||||||||
Loans | $ | 9,192 | $ | -56,056 | $ | -2,866 | Interest and fee income - loans and leases | $ | -4,064 | $ | -14,979 | $ | 14,849 | |||||||
Investment securities | --- | --- | -703 | Interest and fee income - investment securities | 93 | -209 | --- | |||||||||||||
Subordinated notes | --- | --- | --- | Interest expense - subordinated notes and other long-term debt | --- | --- | 143 | |||||||||||||
Total | $ | 9,192 | $ | -56,056 | $ | -3,569 | $ | -3,971 | $ | -15,188 | $ | 14,992 | ||||||||
Reclassified gains and losses on swaps related to loans and investment securities and swaps related to subordinated debt are recorded within interest income and interest expense, respectively. During the next twelve months, Huntington expects to reclassify to earnings $21.1 million after-tax, of unrealized gains on cash flow hedging derivatives currently in OCI. | ||||||||||||||||||||
The following table presents the gains and (losses) recognized in noninterest income for the ineffective portion of interest rate contracts for derivatives designated as cash flow hedges for the years ending December 31, 2014, 2013, and 2012: | ||||||||||||||||||||
December 31, | ||||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | |||||||||||||||||
Derivatives in cash flow hedging relationships | ||||||||||||||||||||
Interest rate contracts: | ||||||||||||||||||||
Loans | $ | 74 | $ | 878 | $ | -179 | ||||||||||||||
Derivatives used in trading activities | ||||||||||||||||||||
Various derivative financial instruments are offered to enable customers to meet their financing and investing objectives and for their risk management purposes. Derivative financial instruments used in trading activities consisted of commodity, interest rate, and foreign exchange contracts. The derivative contracts grant the option holder the right to buy or sell an underlying financial instrument for a predetermined price before the contract expires. Huntington may enter into offsetting third-party contracts with approved, reputable counterparties with substantially matching terms and currencies in order to economically hedge significant exposure related to derivatives used in trading activities. | ||||||||||||||||||||
Commodity derivatives help the customer hedge risk and reduce exposure to price changes in commodities. Activity related to commodity derivatives is concentrated in large corporate, middle market, and energy sectors. Commodities markets trade and include oil, refined products, natural gas, coal, as well as industrial and precious metals. The energy sector focuses on oil, gas, and coal. Based on policy limits and the relatively small notional amounts of commodity activity, we do not anticipate any meaningful price risk for our commodity derivatives. Interest rate options grant the option holder the right to buy or sell an underlying financial instrument for a predetermined price before the contract expires. Interest rate futures are commitments to either purchase or sell a financial instrument at a future date for a specified price or yield and may be settled in cash or through delivery of the underlying financial instrument. Interest rate caps and floors are option-based contracts that entitle the buyer to receive cash payments based on the difference between a designated reference rate and a strike price, applied to a notional amount. Written options, primarily caps, expose Huntington to market risk but not credit risk. Purchased options contain both credit and market risk. The interest rate risk of these customer derivatives is mitigated by entering into similar derivatives having offsetting terms with other counterparties. The credit risk to these customers is evaluated and included in the calculation of fair value. Foreign currency derivatives help the customer hedge risk and reduce exposure to fluctuations in exchange rates. Transactions are primarily in liquid currencies with Canadian dollars and Euros comprising a majority of all transactions. | ||||||||||||||||||||
The net fair values of these derivative financial instruments used in trading activities, for which the gross amounts are included in accrued income and other assets or accrued expenses and other liabilities at December 31, 2014 and 2013, were $74.4 million and $80.5 million, respectively. The total notional values of derivative financial instruments used by Huntington on behalf of customers, including offsetting derivatives, were $14.4 billion and $14.3 billion at December 31, 2014 and 2013, respectively. Huntington’s credit risks from derivatives used for trading purposes were $219.3 million and $160.4 million at the same dates, respectively. | ||||||||||||||||||||
Financial assets and liabilities that are offset in the Consolidated Balance Sheets | ||||||||||||||||||||
Huntington records derivatives at fair value as further described in Note 17. Huntington records these derivatives net of any master netting arrangement in the Consolidated Balance Sheets. Collateral agreements are regularly entered into as part of the underlying derivative agreements with Huntington’s counterparties to mitigate counterparty credit risk. | ||||||||||||||||||||
All derivatives are carried on the Consolidated Balance Sheets at fair value. Derivative balances are presented on a net basis taking into consideration the effects of legally enforceable master netting agreements. Cash collateral exchanged with counterparties is also netted against the applicable derivative fair values. Huntington enters into derivative transactions with two primary groups: broker-dealers and banks, and Huntington’s customers. Different methods are utilized for managing counterparty credit exposure and credit risk for each of these groups. | ||||||||||||||||||||
Huntington enters into transactions with broker-dealers and banks for various risk management purposes. These types of transactions generally are high dollar volume. Huntington enters into bilateral collateral and master netting agreements with these counterparties, and routinely exchange cash and high quality securities collateral with these counterparties. Huntington enters into transactions with customers to meet their financing, investing, payment and risk management needs. These types of transactions generally are low dollar volume. Huntington generally enters into master netting agreements with customer counterparties, however collateral is generally not exchanged with customer counterparties. | ||||||||||||||||||||
At December 31, 2014 and December 31, 2013, aggregate credit risk associated with these derivatives, net of collateral that has been pledged by the counterparty, was $19.5 million and $15.2 million, respectively. The credit risk associated with interest rate swaps is calculated after considering master netting agreements with broker-dealers and banks. | ||||||||||||||||||||
At December 31, 2014, Huntington pledged $130.9 million of investment securities and cash collateral to counterparties, while other counterparties pledged $130.0 million of investment securities and cash collateral to Huntington to satisfy collateral netting agreements. In the event of credit downgrades, Huntington would not be required to provide additional collateral. | ||||||||||||||||||||
The following tables present the gross amounts of these assets and liabilities with any offsets to arrive at the net amounts recognized in the Consolidated Balance Sheets at December 31, 2014 and December 31, 2013: | ||||||||||||||||||||
Offsetting of Financial Assets and Derivative Assets | ||||||||||||||||||||
Gross amounts not offset in the consolidated balance sheets | ||||||||||||||||||||
(dollar amounts in thousands) | Gross amounts of recognized assets | Gross amounts offset in the consolidated balance sheets | Net amounts of assets presented in the consolidated balance sheets | Financial instruments | Cash collateral received | Net amount | ||||||||||||||
Offsetting of Financial Assets and Derivative Assets | ||||||||||||||||||||
31-Dec-14 | Derivatives | $ | 480,803 | $ | -128,161 | $ | 352,642 | $ | -27,744 | $ | -1,095 | $ | 323,803 | |||||||
31-Dec-13 | Derivatives | 300,903 | -111,458 | 189,445 | -35,205 | -360 | 153,880 | |||||||||||||
Offsetting of Financial Liabilities and Derivative Liabilities | ||||||||||||||||||||
Gross amounts not offset in the consolidated balance sheets | ||||||||||||||||||||
(dollar amounts in thousands) | Gross amounts of recognized liabilities | Gross amounts offset in the consolidated balance sheets | Net amounts of assets presented in the consolidated balance sheets | Financial instruments | Cash collateral delivered | Net amount | ||||||||||||||
Offsetting of Financial Liabilities and Derivative Liabilities | ||||||||||||||||||||
31-Dec-14 | Derivatives | $ | 363,192 | $ | -78,937 | $ | 284,255 | $ | -78,654 | $ | -111 | $ | 205,490 | |||||||
31-Dec-13 | Derivatives | 196,397 | -76,539 | 119,858 | -86,204 | 290 | 33,944 | |||||||||||||
Derivatives used in mortgage banking activities | ||||||||||||||||||||
Huntington also uses certain derivative financial instruments to offset changes in value of its residential MSRs. These derivatives consist primarily of forward interest rate agreements and forward commitments to deliver mortgage-backed securities. The derivative instruments used are not designated as hedges. Accordingly, such derivatives are recorded at fair value with changes in fair value reflected in mortgage banking income. The following table summarizes the derivative assets and liabilities used in mortgage banking activities: | ||||||||||||||||||||
At December 31, | ||||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||||||||||||||
Derivative assets: | ||||||||||||||||||||
Interest rate lock agreements | $ | 4,064 | $ | 3,066 | ||||||||||||||||
Forward trades and options | 35 | 3,997 | ||||||||||||||||||
Total derivative assets | 4,099 | 7,063 | ||||||||||||||||||
Derivative liabilities: | ||||||||||||||||||||
Interest rate lock agreements | -259 | -231 | ||||||||||||||||||
Forward trades and options | -3,760 | -40 | ||||||||||||||||||
Total derivative liabilities | -4,019 | -271 | ||||||||||||||||||
Net derivative asset (liability) | $ | 80 | $ | 6,792 | ||||||||||||||||
The total notional value of these derivative financial instruments at December 31, 2014 and 2013, was $0.6 billion and $0.5 billion, respectively. The total notional amount at December 31, 2014 corresponds to trading assets with a fair value of $3.0 million and no trading liabilities. Net trading gains (losses) related to MSR hedging for the years ended December 31, 2014, 2013, and 2012, were $7.1 million, $(25.0) million, and $31.3 million, respectively. These amounts are included in mortgage banking income in the Consolidated Statements of Income. | ||||||||||||||||||||
Variable_Interest_Entities
Variable Interest Entities | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Variable Interest Entities [Abstract] | ||||||||||||||||
VARIABLE INTEREST ENTITIES | 19. VIEs | |||||||||||||||
Consolidated VIEs | ||||||||||||||||
Consolidated VIEs at December 31, 2014 consisted of automobile loan and lease securitization trusts formed in 2009 and 2006. Huntington has determined the trusts are VIEs. Huntington has concluded that it is the primary beneficiary of these trusts because it has the power to direct the activities of the entity that most significantly affect the entity’s economic performance and it has either the obligation to absorb losses of the entity that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE. During the 2014 first quarter, Huntington cancelled the 2009 and 2006 Automobile Trusts. As a result, any remaining assets at the time of the cancellation are no longer part of the trusts. | ||||||||||||||||
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, 2014 and 2013: | ||||||||||||||||
2009 | 2006 | Other | ||||||||||||||
Automobile | Automobile | Consolidated | ||||||||||||||
Trust | Trust | Trusts | Total | |||||||||||||
(dollar amounts in thousands) | 31-Dec-14 | |||||||||||||||
Assets: | ||||||||||||||||
Cash | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||
Loans and leases | --- | --- | --- | --- | ||||||||||||
Allowance for loan and lease losses | --- | --- | --- | --- | ||||||||||||
Net loans and leases | --- | --- | --- | --- | ||||||||||||
Accrued income and other assets | --- | --- | 243 | 243 | ||||||||||||
Total assets | $ | --- | $ | --- | $ | 243 | $ | 243 | ||||||||
Liabilities: | ||||||||||||||||
Other long-term debt | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||
Accrued interest and other liabilities | --- | --- | 243 | 243 | ||||||||||||
Total liabilities | $ | --- | $ | --- | $ | 243 | $ | 243 | ||||||||
2009 | 2006 | Other | ||||||||||||||
Automobile | Automobile | Consolidated | ||||||||||||||
Trust | Trust | Trusts | Total | |||||||||||||
(dollar amounts in thousands) | 31-Dec-13 | |||||||||||||||
Assets: | ||||||||||||||||
Cash | $ | 8,580 | $ | 79,153 | $ | --- | $ | 87,733 | ||||||||
Loans and leases | 52,286 | 151,171 | --- | 203,457 | ||||||||||||
Allowance for loan and lease losses | --- | -711 | --- | -711 | ||||||||||||
Net loans and leases | 52,286 | 150,460 | --- | 202,746 | ||||||||||||
Accrued income and other assets | 235 | 485 | 262 | 982 | ||||||||||||
Total assets | $ | 61,101 | $ | 230,098 | $ | 262 | $ | 291,461 | ||||||||
Liabilities: | ||||||||||||||||
Other long-term debt | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||
Accrued interest and other liabilities | --- | --- | 262 | 262 | ||||||||||||
Total liabilities | $ | --- | $ | --- | $ | 262 | $ | 262 | ||||||||
The automobile loans and leases were designated to repay the securitized notes. Huntington services the loans and leases and uses the proceeds from principal and interest payments to pay the securitized notes during the amortization period. All securitized notes were repaid prior to December 21, 2013. Huntington has not provided financial or other support that was not previously contractually required. | ||||||||||||||||
Unconsolidated VIEs | ||||||||||||||||
The following tables provide a summary of the 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, 2014 and 2013. | ||||||||||||||||
31-Dec-14 | ||||||||||||||||
(dollar amounts in thousands) | Total Assets | Total Liabilities | Maximum Exposure to Loss | |||||||||||||
2012-1 Automobile Trust | $ | 2,136 | $ | --- | $ | 2,136 | ||||||||||
2012-2 Automobile Trust | 3,220 | --- | 3,220 | |||||||||||||
2011 Automobile Trust | 944 | --- | 944 | |||||||||||||
Tower Hill Securities, Inc. | 55,611 | 65,000 | 55,611 | |||||||||||||
Trust Preferred Securities | 13,919 | 317,075 | --- | |||||||||||||
Low Income Housing Tax Credit Partnerships | 368,283 | 154,861 | 368,283 | |||||||||||||
Other Investments | 83,400 | 20,760 | 83,400 | |||||||||||||
Total | $ | 527,513 | $ | 557,696 | $ | 513,594 | ||||||||||
31-Dec-13 | ||||||||||||||||
(dollar amounts in thousands) | Total Assets | Total Liabilities | Maximum Exposure to Loss | |||||||||||||
2012-1 Automobile Trust | $ | 5,975 | $ | --- | $ | 5,975 | ||||||||||
2012-2 Automobile Trust | 7,396 | --- | 7,396 | |||||||||||||
2011 Automobile Trust | 3,040 | --- | 3,040 | |||||||||||||
Tower Hill Securities, Inc. | 66,702 | 65,000 | 66,702 | |||||||||||||
Trust Preferred Securities | 13,764 | 312,894 | --- | |||||||||||||
Low Income Housing Tax Credit Partnerships | 317,226 | 134,604 | 317,226 | |||||||||||||
Other Investments | 90,278 | 9,772 | 90,278 | |||||||||||||
Total | $ | 504,381 | $ | 522,270 | $ | 490,617 | ||||||||||
2012-1 AUTOMOBILE TRUST, 2012-2 AUTOMOBILE TRUST, and 2011 AUTOMOBILE TRUST | ||||||||||||||||
During the 2012 first and fourth quarters, and 2011 third quarter, we transferred automobile loans totaling $1.3 billion, $1.0 billion, and $1.0 billion, respectively to trusts in separate securitization transactions. The securitizations and the resulting sale of all underlying securities qualified for sale accounting. Huntington has concluded that it is not the primary beneficiary of these trusts because it has neither the obligation to absorb losses of the entities that could potentially be significant to the VIEs nor the right to receive benefits from the entities that could potentially be significant to the VIEs. Huntington is not required and does not currently intend to provide any additional financial support to the trusts. Investors and creditors only have recourse to the assets held by the trusts. The interest Huntington holds in the VIEs relates to servicing rights which are included within accrued income and other assets of Huntington’s Consolidated Balance Sheets. The maximum exposure to loss is equal to the carrying value of the servicing asset. | ||||||||||||||||
TOWER HILL SECURITIES, INC. | ||||||||||||||||
In 2010, we transferred approximately $92.1 million of municipal securities, $86.0 million in Huntington Preferred Capital, Inc. (Real Estate Investment Trust) Class E Preferred Stock and cash of $6.1 million to Tower Hill Securities, Inc. in exchange for $184.1 million of Common and Preferred Stock of Tower Hill Securities, Inc. The municipal securities and the REIT Shares will be used to satisfy $65.0 million of mandatorily redeemable securities issued by Tower Hill Securities, Inc. and are not available to satisfy the general debts and obligations of Huntington or any consolidated affiliates. The transfer was recorded as a secured financing. Interests held by Huntington consist of municipal securities within available for sale and other securities and Series B preferred securities within long term debt of Huntington’s Consolidated Balance Sheets. The maximum exposure to loss is equal to the carrying value of the municipal securities. | ||||||||||||||||
TRUST-PREFERRED SECURITIES | ||||||||||||||||
Huntington has certain wholly-owned trusts whose assets, liabilities, equity, income, and expenses are not included within Huntington’s Consolidated Financial Statements. These trusts have been formed for the sole purpose of issuing trust-preferred securities, from which the proceeds are then invested in Huntington junior subordinated debentures, which are reflected in Huntington’s Consolidated Balance Sheet as subordinated notes. 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, 2014 follows: | ||||||||||||||||
Principal amount of | Investment in | |||||||||||||||
subordinated note/ | unconsolidated | |||||||||||||||
(dollar amounts in thousands) | Rate | debenture issued to trust (1) | subsidiary | |||||||||||||
Huntington Capital I | 0.93 | -2% | $ | 111,816 | $ | 6,186 | ||||||||||
Huntington Capital II | 0.87 | -3% | 54,593 | 3,093 | ||||||||||||
Sky Financial Capital Trust III | 1.66 | -4% | 72,165 | 2,165 | ||||||||||||
Sky Financial Capital Trust IV | 1.63 | -4% | 74,320 | 2,320 | ||||||||||||
Camco Financial Trust | 1.57 | -5% | 4,181 | 155 | ||||||||||||
Total | $ | 317,075 | $ | 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, 2014, based on three month LIBOR + 0.70. | |||||||||||||||
-3 | Variable effective rate at December 31, 2014, based on three month LIBOR + 0.625. | |||||||||||||||
-4 | Variable effective rate at December 31, 2014, based on three month LIBOR + 1.40. | |||||||||||||||
-5 | Variable effective rate (including impact of purchase accounting accretion) at December 31, 2014, based on three month LIBOR + 1.33. | |||||||||||||||
Each issue of the junior subordinated debentures has an interest rate equal to the corresponding trust securities distribution rate. Huntington has the right to defer payment of interest on the debentures at any time, or from time-to-time for a period not exceeding five years provided that no extension period may extend beyond the stated maturity of the related debentures. During any such extension period, distributions to the trust securities will also be deferred and Huntington’s ability to pay dividends on its common stock will be restricted. Periodic cash payments and payments upon liquidation or redemption with respect to trust securities are guaranteed by Huntington to the extent of funds held by the trusts. The guarantee ranks subordinate and junior in right of payment to all indebtedness of the Company to the same extent as the junior subordinated debt. The guarantee does not place a limitation on the amount of additional indebtedness that may be incurred by Huntington. | ||||||||||||||||
LOW INCOME HOUSING TAX CREDIT PARTNERSHIPS | ||||||||||||||||
Huntington makes certain equity investments in various limited partnerships that sponsor affordable housing projects utilizing the Low Income Housing Tax Credit (LIHTC) pursuant to Section 42 of the Internal Revenue Code. The purpose of these investments is to achieve a satisfactory return on capital, to facilitate the sale of additional affordable housing product offerings, and to assist in achieving goals associated with the Community Reinvestment Act. The primary activities of the limited partnerships include the identification, development, and operation of multi family housing that is leased to qualifying residential tenants. Generally, these types of investments are funded through a combination of debt and equity. | ||||||||||||||||
Huntington is a limited partner in each Low Income Housing Tax Credit Partnership. A separate unrelated third party is the general partner. Each limited partnership is managed by the general partner, who exercises full and exclusive control over the affairs of the limited partnership. The general partner has all the rights, powers and authority granted or permitted to be granted to a general partner of a limited partnership under the Ohio Revised Uniform Limited Partnership Act. Duties entrusted to the general partner of each limited partnership include, but are not limited to: investment in operating companies, company expenditures, investment of excess funds, borrowing funds, employment of agents, disposition of fund property, prepayment and refinancing of liabilities, votes and consents, contract authority, disbursement of funds, accounting methods, tax elections, bank accounts, insurance, litigation, cash reserve, and use of working capital reserve funds. Except for limited rights granted to consent to certain transactions, the limited partner(s) may not participate in the operation, management, or control of the limited partnership's business, transact any business in the limited partnership's name or have any power to sign documents for or otherwise bind the limited partnership. In addition, the general partner may only be removed by the limited partner(s) in the event the general partner fails to comply with the terms of the agreement and/or is negligent in performing its duties. | ||||||||||||||||
Huntington believes the general partner of each limited partnership has the power to direct the activities which most significantly affect the performance of each partnership, therefore, Huntington has determined that it is not the primary beneficiary of any LIHTC partnership. Huntington uses the proportional amortization method to account for a majority of its investments in these entities. These investments are included in accrued income and other assets. Investments that do not meet the requirements of the proportional amortization method are recognized using the equity method. Investment losses related to these investments are included in non-interest-income in the Condensed Consolidated Statements of Income. | ||||||||||||||||
During the 2014 first quarter, Huntington early adopted ASU 2014-01 (see Note 2). The amendments are required to be applied retrospectively to all periods presented. As a result of these changes, Huntington recorded a cumulative-effect adjustment to beginning retained earnings. | ||||||||||||||||
The following table presents the balances of Huntington’s affordable housing tax credit investments and related unfunded commitments at December 31, 2014 and 2013. | ||||||||||||||||
December 31, | December 31, | |||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||||||||||
Affordable housing tax credit investments | $ | 576,381 | $ | 484,799 | ||||||||||||
Less: amortization | -208,098 | -167,573 | ||||||||||||||
Net affordable housing tax credit investments | $ | 368,283 | $ | 317,226 | ||||||||||||
Unfunded commitments | $ | 154,861 | $ | 134,604 | ||||||||||||
The following table presents other information relating to Huntington’s affordable housing tax credit investments for the years ended December 31, 2014 and 2013. | ||||||||||||||||
Year Ended December 31, | ||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | |||||||||||||
Tax credits and other tax benefits recognized | $ | 51,317 | $ | 55,819 | $ | 55,558 | ||||||||||
Proportional amortization method | ||||||||||||||||
Tax credit amortization expense included in provision for income taxes | 39,021 | 32,789 | 32,337 | |||||||||||||
Equity method | ||||||||||||||||
Tax credit investment losses included in non-interest income | 434 | 1,176 | 676 | |||||||||||||
There were no sales of LIHTC investments in 2014. During the years ended December 31, 2013 and 2012, Huntington sold LIHTC investments resulting in gains of $8.7 million and $5.4 million, respectively. The gains were recorded in noninterest income in the Consolidated Statements of Income. | ||||||||||||||||
Huntington recognized immaterial impairment losses for the years ended December 31, 2014, 2013 and 2012. The impairment losses recognized related to the fair value of the tax credit investments that were less than carrying value. |
Commitments_and_Contingent_Lia
Commitments and Contingent Liabilities | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Commitments and Contingent Liabilities [Abstract] | ||||||||
COMMITMENTS AND CONTINGENT LIABILITIES | 20. Commitments and Contingent Liabilities | |||||||
Commitments to extend credit | ||||||||
In the ordinary course of business, Huntington makes various commitments to extend credit that are not reflected in the Consolidated Financial Statements. The contract amounts of these financial agreements at December 31, 2014, and December 31, 2013, were as follows: | ||||||||
At December 31, | ||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||
Contract amount represents credit risk | ||||||||
Commitments to extend credit: | ||||||||
Commercial | $ | 11,181,522 | $ | 10,198,327 | ||||
Consumer | 7,579,632 | 6,544,606 | ||||||
Commercial real estate | 908,112 | 765,982 | ||||||
Standby letters of credit | 497,457 | 439,834 | ||||||
Commitments to extend credit generally have fixed expiration dates, are variable-rate, and contain clauses that permit Huntington to terminate or otherwise renegotiate the contracts in the event of a significant deterioration in the customer’s credit quality. These arrangements normally require the payment of a fee by the customer, the pricing of which is based on prevailing market conditions, credit quality, probability of funding, and other relevant factors. Since many of these commitments are expected to expire without being drawn upon, the contract amounts are not necessarily indicative of future cash requirements. The interest rate risk arising from these financial instruments is insignificant as a result of their predominantly short-term, variable-rate nature. | ||||||||
Standby letters-of-credit are conditional commitments issued to guarantee the performance of a customer to a third party. These guarantees are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing, and similar transactions. Most of these arrangements mature within two years. The carrying amount of deferred revenue associated with these guarantees was $4.4 million and $2.1 million at December 31, 2014 and 2013, respectively. | ||||||||
Through the Company’s credit process, Huntington monitors the credit risks of outstanding standby letters-of-credit. When it is probable that a standby letter-of-credit will be drawn and not repaid in full, losses are recognized in the provision for credit losses. At December 31, 2014, Huntington had $497 million of standby letters-of-credit outstanding, of which 80% were collateralized. Included in this $497 million total are letters-of-credit issued by the Bank that support securities that were issued by customers and remarketed by The Huntington Investment Company, the Company’s broker-dealer subsidiary. | ||||||||
Huntington uses an internal grading system to assess an estimate of loss on its loan and lease portfolio. This same loan grading system is used to monitor credit risk associated with standby letters-of-credit. Under this risk rating system as of December 31, 2014, approximately $137 million of the standby letters-of-credit were rated strong with sufficient asset quality, liquidity, and good debt capacity and coverage, approximately $360 million were rated average with acceptable asset quality, liquidity, and modest debt capacity; and none were rated substandard with negative financial trends, structural weaknesses, operating difficulties, and higher leverage. | ||||||||
Commercial letters-of-credit represent short-term, self-liquidating instruments that facilitate customer trade transactions and generally have maturities of no longer than 90 days. The goods or cargo being traded normally secures these instruments. | ||||||||
Commitments to sell loans | ||||||||
Activity related to our mortgage origination activity supports the hedging of the mortgage pricing commitments to customers and the secondary sale to third parties. At December 31, 2014 and 2013, Huntington had commitments to sell residential real estate loans of $545.0 million and $452.6 million, respectively. These contracts mature in less than one year. | ||||||||
Litigation | ||||||||
The nature of Huntington’s business ordinarily results in a certain amount of pending as well as threatened claims, litigation, investigations, regulatory and legal and administrative cases, matters, and proceedings, all of which are considered incidental to the normal conduct of business. When the Company determines it has meritorious defenses to the claims asserted, it vigorously defends itself. The Company considers settlement of cases when, in Management’s judgment, it is in the best interests of both the Company and its shareholders to do so. | ||||||||
On at least a quarterly basis, Huntington assesses its liabilities and contingencies in connection with threatened and outstanding regulatory legal, and administrative cases, matters and proceedings, utilizing the latest information available. For cases, matters and proceedings where it is both probable the Company will incur a loss and the amount can be reasonably estimated, Huntington establishes an accrual for the loss. Once established, the accrual is adjusted as appropriate to reflect any relevant developments. For cases, matters or proceedings where a loss is not probable or the amount of the loss cannot be estimated, no accrual is established. | ||||||||
In certain cases, matters and proceedings, exposure to loss exists in excess of the accrual to the extent such loss is reasonably possible, but not probable. Management believes an estimate of the aggregate range of reasonably possible losses, in excess of amounts accrued, for current legal proceedings is from $0 to approximately $130.0 million at December 31, 2014. For certain other cases, matters and proceedings, Management cannot reasonably estimate the possible loss at this time. Any estimate involves significant judgment, given the varying stages of the proceedings (including the fact that many of them are currently in preliminary stages), the existence of multiple defendants in several of the current proceedings whose share of liability has yet to be determined, the numerous unresolved issues in many of the proceedings, and the inherent uncertainty of the various potential outcomes of such proceedings. Accordingly, Management’s estimate will change from time-to-time, and actual losses may be more or less than the current estimate. | ||||||||
While the final outcome of legal cases, matters, and proceedings is inherently uncertain, based on information currently available, advice of counsel, and available insurance coverage, Management believes that the amount it has already accrued is adequate and any incremental liability arising from the Company’s legal cases, matters, or proceedings will not have a material negative adverse effect on the Company's consolidated financial position as a whole. However, in the event of unexpected future developments, it is possible that the ultimate resolution of these cases, matters, and proceedings, if unfavorable, may be material to the Company’s consolidated financial position in a particular period. | ||||||||
The Bank has been named a defendant in two lawsuits arising from the Bank’s commercial lending, depository, and equipment leasing relationships with Cyberco Holdings, Inc. (Cyberco), based in Grand Rapids, Michigan. In November 2004, the Federal Bureau of Investigation and the Internal Revenue Service raided Cyberco’s facilities and Cyberco's operations ceased. An equipment leasing fraud was uncovered, whereby Cyberco sought financing from equipment lessors and financial institutions, including the Bank, allegedly to purchase computer equipment from Teleservices Group, Inc. (Teleservices). Cyberco created fraudulent documentation to close the financing transactions when, in fact, no computer equipment was ever purchased or leased from Teleservices, which later proved to be a shell corporation. | ||||||||
Cyberco filed a Chapter 7 bankruptcy petition on December 9, 2004, and Teleservices then filed its Chapter 7 bankruptcy petition on January 21, 2005. In an adversary proceeding commenced against the Bank on December 8, 2006, the Cyberco bankruptcy trustee sought recovery of over $70.0 million he alleged was transferred to the Bank. The Cyberco bankruptcy trustee also alleged preferential transfers were made to the Bank in the amount of approximately $1.2 million. The Bank moved to dismiss the complaint and all but the preference claims were dismissed on January 29, 2008. The Bankruptcy Court ordered the case to be tried in July 2012, and entered an order governing all pretrial conduct. The Bank filed a motion for summary judgment on the basis that the Cyberco trustee sought recovery of the same alleged transfers as the Teleservices trustee in a separate case described below. The Bankruptcy Court granted the motion in principal part and the parties stipulated to a full dismissal which was entered on June 19, 2012. | ||||||||
The Teleservices bankruptcy trustee filed a separate adversary proceeding against the Bank on January 19, 2007, seeking to avoid and recover alleged transfers that occurred in two ways: (1) checks made payable to the Bank for application to Cyberco's indebtedness to the Bank, and (2) deposits into Cyberco's bank accounts with the Bank. A trial was held as to only the Bank’s defenses. Subsequently, the trustee filed a summary judgment motion on her affirmative case, alleging the fraudulent transfers to the Bank totaled approximately $73.0 million and seeking judgment in that amount (which includes the $1.2 million alleged to be preferential transfers by the Cyberco bankruptcy trustee). On March 17, 2011, the Bankruptcy Court issued an Opinion determining that the alleged transfers made to the Bank during the period from April 30, 2004 through November 2004 were not received in good faith and that the Bank failed to show a lack of knowledge of the avoidability of the alleged transfers made from September 2003 through April 30, 2004. The trustee then filed an amended motion for summary judgment in her affirmative case and a hearing was held on July 1, 2011. | ||||||||
On March 30, 2012, the Bankruptcy Court issued an Opinion on the Teleservices trustee’s motion determining the Bank was the initial transferee of the checks made payable to it and was a subsequent transferee of all deposits into Cyberco’s accounts. The Bankruptcy Court ruled Cyberco’s deposits were themselves transfers to the Bank under the Bankruptcy Code, and the Bank was liable for both the checks and the deposits, totaling approximately $ 73.0 million. The Bankruptcy Court ruled the Bank may be entitled to a credit of approximately $ 4.0 million for the Cyberco trustee’s recoveries in preference actions filed against third parties that received payments from Cyberco within 90 days preceding Cyberco’s bankruptcy. Lastly, the Bankruptcy Court ruled that the Teleservices trustee was entitled to an award of prejudgment interest at a rate to be determined. A trial was held on these remaining issues on April 30, 2012, and the Court issued a bench opinion on July 23, 2012. In that opinion, the Court denied the Bank the $ 4.0 million credit, but ruled approximately $ 0.9 million in deposits were either double-counted or were outside the timeframe in which the Teleservices trustee could recover. Therefore, the Bankruptcy Court’s recommended award was reduced by $ 0.9 million. Further, the Bankruptcy Court ruled the interest rate specified in the federal statute governing post-judgment interest, which is based on U.S. Treasury bill rates, would be the rate of interest used to determine prejudgment interest. The Bankruptcy Court’s March 2011 and March 2012 opinions, as well as its July 23, 2012 bench opinion, were not reduced to final judgment by the Bankruptcy Court. Rather, the Bankruptcy Court delivered its report and recommendation to the District Court for the Western District of Michigan, recommending that the District Court enter a final judgment against the Bank in the principal amount of $ 71.8 million, plus interest through July 27, 2012, in the amount of $ 8.8 million. The parties filed their respective objections and responses to the Bankruptcy Court’s report and recommendation. Oral argument on the parties’ objections and responses to the report and recommendation was held by the District Court on September 22, 2014. Each party then submitted a rebuttal brief to the District Court on October 6, 2014. The District Court is conducting a de novo review of the fact findings and legal conclusions in the Bankruptcy Court’s report and recommendation and has not issued a ruling to date. | ||||||||
During the pendency of the adversary proceedings commenced by the Cyberco and Teleservices trustees, the Bank moved to substantively consolidate the two bankruptcy estates, principally on the ground that Teleservices was the alter ego and a mere instrumentality of Cyberco at all times. On July 2, 2010, the Bankruptcy Court issued an Opinion and Order denying the Bank's motion for substantive consolidation of the two bankruptcy estates. The Bank appealed that decision to the Bankruptcy Appellate Panel (BAP) for the Sixth Circuit, which ruled that the order denying substantive consolidation would not be a final order until the Bankruptcy Court issued its opinion on the Bank’s defenses in the Teleservices adversary proceeding, and dismissed the appeal. The Bank appealed the BAP’s decision to the Sixth Circuit. When the Bankruptcy Court issued its March 17, 2011, opinion in the Teleservices adversary proceeding, the Bank again appealed the order denying substantive consolidation to the BAP, which appeal was held in abeyance pending decision by the Sixth Circuit on the appeal of the BAP’s 2010 order. On August 30, 2013, the Sixth Circuit affirmed the BAP’s 2010 decision dismissing the original appeal. The Bank filed a status report with the BAP on the second appeal and the trustees then moved to dismiss the second appeal on the ground that the Bankruptcy Court’s orders denying substantive consolidation were still not final orders. The BAP granted the trustees’ motion in an Order dated December 23, 2013. | ||||||||
The Bank is a defendant in an action filed on January 17, 2012 against MERSCORP, Inc. and numerous other financial institutions that participate in the mortgage electronic registration system (MERS). The putative class action was filed on behalf of all 88 counties in Ohio. The plaintiffs allege that the recording of mortgages and assignments thereof is mandatory under Ohio law and seek a declaratory judgment that the defendants are required to record every mortgage and assignment on real property located in Ohio and pay the attendant statutory recording fees. The complaint also seeks damages, attorney’s fees and costs. Huntington filed a motion to dismiss the complaint, which has been fully briefed, but no ruling has been issued by the Geauga County, Ohio Court of Common Pleas. Similar litigation has been initiated against MERSCORP, Inc. and other financial institutions in other jurisdictions throughout the country, however, the Bank has not been named a defendant in those other cases. | ||||||||
The Bank is also a defendant in a putative class action filed on October 15, 2013. The plaintiffs filed the action in West Virginia state court on behalf of themselves and other West Virginia mortgage loan borrowers who allege they were charged late fees in violation of West Virginia law and the loan documents. Plaintiffs seek statutory civil penalties, compensatory damages and attorney’s fees. The Bank removed the case to federal court, answered the complaint, and, on January 17, 2014, filed a motion for judgment on the pleadings, asserting that West Virginia law is preempted by federal law and therefore does not apply to the Bank. Following further briefing by the parties, the Court denied the Bank’s motion for judgment on the pleadings on September 26, 2014. On October 7, 2014, the Bank filed a motion to certify the District Court’s decision for interlocutory review by the Fourth Circuit Court of Appeals. The plaintiffs have opposed the Bank’s motion. No ruling has yet been issued by the Court. | ||||||||
Commitments Under Operating Lease Obligations | ||||||||
At December 31, 2014, Huntington and its subsidiaries were obligated under noncancelable leases for land, buildings, and equipment. Many of these leases contain renewal options and certain leases provide options to purchase the leased property during or at the expiration of the lease period at specified prices. Some leases contain escalation clauses calling for rentals to be adjusted for increased real estate taxes and other operating expenses or proportionately adjusted for increases in the consumer or other price indices. | ||||||||
The future minimum rental payments required under operating leases that have initial or remaining noncancelable lease terms in excess of one year as of December 31, 2014, were as follows: $50.9 million in 2015, $47.7 million in 2016, $44.4 million in 2017, $41.2 million in 2018, $37.9 million in 2019, and $237.1 million thereafter. At December 31, 2014, total minimum lease payments have not been reduced by minimum sublease rentals of $8.4 million due in the future under noncancelable subleases. At December 31, 2014, the future minimum sublease rental payments that Huntington expects to receive were as follows: $4.0 million in 2015, $2.0 million in 2016, $1.0 million in 2017, $0.6 million in 2018, $0.3 million in 2019, and $0.5 million thereafter. The rental expense for all operating leases was $57.2 million, $55.3 million, and $54.7 million for 2014, 2013, and 2012, respectively. Huntington had no material obligations under capital leases. |
Other_Regulatory_Matters
Other Regulatory Matters | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||
Banking and Thrift [Abstract] | ||||||||||||||||||||||
OTHER REGULATORY MATTERS | 21. Other Regulatory Matters | |||||||||||||||||||||
Huntington and its bank subsidiary, The Huntington National Bank (the Bank), are subject to various regulatory capital requirements administered by federal and state banking agencies. These requirements involve qualitative judgments and quantitative measures of assets, liabilities, capital amounts, and certain off-balance sheet items as calculated under regulatory accounting practices. Failure to meet minimum capital requirements can initiate certain actions by regulators that, if undertaken, could have a material adverse effect on Huntington’s and the Bank’s financial statements. Applicable capital adequacy guidelines require minimum ratios of 4.00% for Tier 1 risk-based Capital, 8.00% for total risk-based Capital, and 4.00% for Tier 1 leverage capital. To be considered well-capitalized under the regulatory framework for prompt corrective action, the ratios must be at least 6.00%, 10.00%, and 5.00%, respectively. | ||||||||||||||||||||||
As of December 31, 2014, Huntington and the Bank met all capital adequacy requirements and had regulatory capital ratios in excess of the levels established for well-capitalized institutions. The period-end capital amounts and capital ratios of Huntington and the Bank are as follows: | ||||||||||||||||||||||
Tier 1 risk-based capital (1) | Total risk-based capital (1) | Tier 1 leverage capital (1) | ||||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||
Huntington Bancshares Incorporated | ||||||||||||||||||||||
Amount | $ | 6,265,900 | $ | 6,099,629 | $ | 7,388,336 | $ | 7,239,035 | $ | 6,265,900 | $ | 6,099,629 | ||||||||||
Ratio | 11.5 | % | 12.28 | % | 13.56 | % | 14.57 | % | 9.74 | % | 10.67 | % | ||||||||||
The Huntington National Bank | ||||||||||||||||||||||
Amount | $ | 6,136,190 | $ | 5,682,067 | $ | 6,956,242 | $ | 6,520,190 | $ | 6,136,190 | $ | 5,682,067 | ||||||||||
Ratio | 11.28 | % | 11.45 | % | 12.79 | % | 13.14 | % | 9.56 | % | 9.97 | % | ||||||||||
-1 | In accordance with applicable regulatory reporting guidance, we are not required to retrospectively update historical filings for newly adopted accounting principles. Therefore, regulatory capital data has not been updated for the adoption of ASU 2014-01. | |||||||||||||||||||||
Tier 1 risk-based capital consists of total equity plus qualifying capital securities and minority interest, excluding unrealized gains and losses accumulated in OCI, and non-qualifying intangible and servicing assets. Total risk-based capital is the sum of Tier 1 risk-based capital and qualifying subordinated notes and allowable allowances for credit losses (limited to 1.25% of total risk-weighted assets). Tier 1 leverage capital is equal to Tier 1 capital. Both Tier 1 capital and total risk-based capital ratios are derived by dividing the respective capital amounts by net risk-weighted assets, which are calculated as prescribed by regulatory agencies. The Tier 1 leverage capital ratio is calculated by dividing the Tier 1 capital amount by average total assets for the fourth quarter of 2014 and 2013, less non-qualifying intangibles and other adjustments. | ||||||||||||||||||||||
Huntington has the ability to provide additional capital to the Bank to maintain the Bank’s risk-based capital ratios at levels at which would be considered well-capitalized. | ||||||||||||||||||||||
On July 2, 2013, the Federal Reserve voted to adopt final capital rules implementing Basel III requirements for U.S. Banking organizations. The final rules establish an integrated regulatory capital framework and will implement in the United States the Basel III regulatory capital reforms from the Basel Committee on Banking Supervision and certain changes required by the Dodd-Frank Act. Under the final rule, minimum requirements will increase for both the quantity and quality of capital held by banking organizations. Consistent with the international Basel framework, the final rule includes a new minimum ratio of common equity tier 1 capital (Tier 1 Common) to risk-weighted assets and a Tier 1 Common capital conservation buffer of 2.5% of risk-weighted assets that will apply to all supervised financial institutions. The rule also raises the minimum ratio of tier 1 capital to risk-weighted assets and includes a minimum leverage ratio of 4% for all banking organizations. These new minimum capital ratios were effective for us on January 1, 2015, and will be fully phased-in on January 1, 2019. | ||||||||||||||||||||||
Huntington and its subsidiaries are also subject to various regulatory requirements that impose restrictions on cash, debt, and dividends. The Bank is required to maintain cash reserves based on the level of certain of its deposits. This reserve requirement may be met by holding cash in banking offices or on deposit at the Federal Reserve Bank. During 2014 and 2013, the average balances of these deposits were $0.2 billion and $0.3 billion, respectively. | ||||||||||||||||||||||
Under current Federal Reserve regulations, the Bank is limited as to the amount and type of loans it may make to the parent company and nonbank subsidiaries. At December 31, 2014, the Bank could lend $695.6 million to a single affiliate, subject to the qualifying collateral requirements defined in the regulations. | ||||||||||||||||||||||
Dividends from the Bank are one of the major sources of funds for the Company. These funds aid the Company in the payment of dividends to shareholders, expenses, and other obligations. Payment of dividends to the parent company is subject to various legal and regulatory limitations. |
Parent_Company_Financial_State
Parent Company Financial Statements | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Parent Company Financial Statements [Abstract] | ||||||||||
PARENT COMPANY FINANCIAL STATEMENTS | 22. PARENT COMPANY FINANCIAL STATEMENTS | |||||||||
The parent company financial statements, which include transactions with subsidiaries, are as follows: | ||||||||||
Balance Sheets | December 31, | |||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||||
Assets | ||||||||||
Cash and cash equivalents | $ | 662,768 | $ | 966,065 | ||||||
Due from The Huntington National Bank | 276,851 | 246,841 | ||||||||
Due from non-bank subsidiaries | 51,129 | 57,747 | ||||||||
Investment in The Huntington National Bank | 6,073,408 | 5,537,582 | ||||||||
Investment in non-bank subsidiaries | 509,114 | 587,388 | ||||||||
Accrued interest receivable and other assets | 279,366 | 286,036 | ||||||||
Total assets | $ | 7,852,636 | $ | 7,681,659 | ||||||
Liabilities and shareholders' equity | ||||||||||
Long-term borrowings | $ | 1,046,105 | $ | 1,034,266 | ||||||
Dividends payable, accrued expenses, and other liabilities | 478,361 | 557,240 | ||||||||
Total liabilities | 1,524,466 | 1,591,506 | ||||||||
Shareholders' equity (1) | 6,328,170 | 6,090,153 | ||||||||
Total liabilities and shareholders' equity | $ | 7,852,636 | $ | 7,681,659 | ||||||
(1) See Consolidated Statements of Changes in Shareholders’ Equity. | ||||||||||
Statements of Income | Year Ended December 31, | |||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | |||||||
Income | ||||||||||
Dividends from | ||||||||||
The Huntington National Bank | $ | 244,000 | $ | --- | $ | --- | ||||
Non-bank subsidiaries | 27,773 | 55,473 | 36,450 | |||||||
Interest from | ||||||||||
The Huntington National Bank | 3,906 | 6,598 | 38,617 | |||||||
Non-bank subsidiaries | 2,613 | 3,129 | 5,420 | |||||||
Other | 2,994 | 2,148 | 1,409 | |||||||
Total income | 281,286 | 67,348 | 81,896 | |||||||
Expense | ||||||||||
Personnel costs | 53,359 | 52,846 | 42,745 | |||||||
Interest on borrowings | 17,031 | 20,739 | 28,926 | |||||||
Other | 52,662 | 36,728 | 35,415 | |||||||
Total expense | 123,052 | 110,313 | 107,086 | |||||||
Income (loss) before income taxes and equity in undistributed net income of subsidiaries | 158,234 | -42,965 | -25,190 | |||||||
Provision (benefit) for income taxes | -62,897 | -22,298 | -12,565 | |||||||
Income (loss) before equity in undistributed net income of subsidiaries | 221,131 | -20,667 | -12,625 | |||||||
Increase (decrease) in undistributed net income (loss) of: | ||||||||||
The Huntington National Bank | 414,049 | 692,392 | 653,615 | |||||||
Non-bank subsidiaries | -2,788 | -30,443 | -9,700 | |||||||
Net income | $ | 632,392 | $ | 641,282 | $ | 631,290 | ||||
Other comprehensive income (loss) (1) | -8,283 | -63,192 | 22,946 | |||||||
Comprehensive income | $ | 624,109 | $ | 578,090 | $ | 654,236 | ||||
(1) See Consolidated Statements of Comprehensive Income for other comprehensive income (loss) detail. | ||||||||||
Statements of Cash Flows | Year Ended December 31, | |||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | |||||||
Operating activities | ||||||||||
Net income | $ | 632,392 | $ | 641,282 | $ | 631,290 | ||||
Adjustments to reconcile net income to net cash | ||||||||||
provided by operating activities: | ||||||||||
Equity in undistributed net income of subsidiaries | -411,261 | -718,144 | -688,149 | |||||||
Depreciation and amortization | 548 | 513 | 265 | |||||||
Other, net | 26,685 | 15,965 | 60,446 | |||||||
Net cash (used for) provided by operating activities | 248,364 | -60,384 | 3,852 | |||||||
Investing activities | ||||||||||
Repayments from subsidiaries | 9,250 | 285,792 | 591,923 | |||||||
Advances to subsidiaries | -32,350 | -249,050 | -36,126 | |||||||
Cash paid for acquisitions, net of cash received | -13,452 | --- | --- | |||||||
Net cash (used for) provided by investing activities | -36,552 | 36,742 | 555,797 | |||||||
Financing activities | ||||||||||
Proceeds from issuance of long-term borrowings | --- | 400,000 | --- | |||||||
Payment of borrowings | --- | -50,000 | -236,885 | |||||||
Dividends paid on stock | -198,789 | -182,476 | -169,335 | |||||||
Net proceeds from issuance of common stock | 2,597 | --- | --- | |||||||
Repurchases of common stock | -334,429 | -124,995 | -148,881 | |||||||
Other, net | 15,512 | 25,707 | -1,031 | |||||||
Net cash provided by (used for) financing activities | -515,109 | 68,236 | -556,132 | |||||||
Change in cash and cash equivalents | -303,297 | 44,594 | 3,517 | |||||||
Cash and cash equivalents at beginning of year | 966,065 | 921,471 | 917,954 | |||||||
Cash and cash equivalents at end of year | $ | 662,768 | $ | 966,065 | $ | 921,471 | ||||
Supplemental disclosure: | ||||||||||
Interest paid | $ | 21,321 | $ | 20,739 | $ | 28,926 |
Business_Combinations
Business Combinations | 12 Months Ended |
Dec. 31, 2014 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | 23. BUSINESS COMBINATIONS |
BANK OF AMERICA BRANCH ACQUISITION | |
On September 12, 2014, Huntington completed its acquisition and conversion of 24 Bank of America branches, furthering our presence in Michigan. Under the terms of the agreement, Huntington acquired approximately $745.2 million of deposits. The deposits were recorded at fair value. The fair values of deposits were estimated by discounting cash flows using interest rates currently being offered on deposits with similar maturities (Level 3). As part of the acquisition, Huntington recorded $17.1 million of goodwill. | |
Pro forma results have not been disclosed, as those amounts are not significant to the audited consolidated financial statements. | |
CAMCO FINANCIAL | |
On March 1, 2014, Huntington completed its acquisition of Camco Financial in a stock and cash transaction valued at $109.5 million. Camco Financial operated 22 banking offices and served communities in Southeast Ohio. The acquisition provides Huntington the opportunity to enhance our presence in several areas within our existing footprint and to expand into a few new markets. | |
Under the terms of the merger agreement, Camco Financial shareholders received 0.7264 shares of Huntington common stock, on a tax-free basis, or a taxable cash payment of $6.00 for each share of Camco Financial common stock. The aggregate purchase price was $109.5 million, including $17.8 million of cash and $91.7 million of common stock and options to purchase common stock. The value of the 8.7 million shares issued in connection with the merger was determined based on the closing price of Huntington’s common stock on February 28, 2014. | |
Under the agreement, Huntington acquired approximately $559.4 million of loans and $557.4 million of deposits. Assets acquired and liabilities assumed were recorded at fair value. The fair values for loans were estimated using discounted cash flow analyses using interest rates currently being offered for loans with similar terms (Level 3). This value was reduced by an estimate of probable losses and the credit risk associated with the loans. The fair values of deposits were estimated by discounting cash flows using interest rates currently being offered on deposits with similar maturities (Level 3). As part of the acquisition, Huntington recorded $64.2 million of goodwill, all of which is nondeductible for tax purposes. | |
Pro forma results have not been disclosed, as those amounts are not significant to the audited consolidated financial statements |
Segment_Reporting
Segment Reporting | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||
SEGMENT REPORTING | 24. SEGMENT REPORTING | |||||||||||||||
Our business segments are based on our internally-aligned segment leadership structure, which is how we monitor results and assess performance. During the 2014 first quarter, we reorganized our business segments to drive our ongoing growth and leverage the knowledge of our highly experienced team. We now have five major business segments: Retail and Business Banking, Commercial Banking, Automobile Finance and Commercial Real Estate (AFCRE), Regional Banking and The Huntington Private Client Group (RBHPCG), and Home Lending. The Treasury / Other function includes our technology and operations, other unallocated assets, liabilities, revenue, and expense. All periods presented have been reclassified to conform to the current period classification. | ||||||||||||||||
Retail and Business Banking: The Retail and Business Banking segment provides a wide array of financial products and services to consumer and small business customers including but not limited to checking accounts, savings accounts, money market accounts, certificates of deposit, consumer loans, and small business loans. Other financial services available to consumer and small business customers include investments, insurance, interest rate risk protection, foreign exchange hedging, and treasury management. Huntington serves customers primarily through our network of branches in Ohio, Michigan, Pennsylvania, Indiana, West Virginia, and Kentucky. In addition to our extensive branch network, customers can access Huntington through online banking, mobile banking, telephone banking, and ATMs. | ||||||||||||||||
Huntington has established a “Fair Play” banking philosophy and built a reputation for meeting the banking needs of consumers in a manner which makes them feel supported and appreciated. Huntington believes customers are recognizing this and other efforts as key differentiators and it is earning us more customers, deeper relationships and the J.D. Power retail service excellence award for 2013 and 2014. | ||||||||||||||||
Business Banking is a dynamic and growing part of our business and we are committed to being the bank of choice for small businesses in our markets. Business Banking is defined as companies with revenues under $20 million and consists of approximately 160,000 businesses. Huntington continues to develop products and services that are designed specifically to meet the needs of small business. Huntington continues to look for ways to help companies find solutions to their financing needs and is the number one SBA lender in the country. We have also won the J.D. Power award for small business service excellence in 2012 and 2014. | ||||||||||||||||
Commercial Banking: Through a relationship banking model, this segment provides a wide array of products and services to the middle market, large corporate, and government public sector customers located primarily within our geographic footprint. The segment is divided into seven business units: middle market, large corporate, specialty banking, asset finance, capital markets, treasury management, and insurance. During the 2014 third quarter, we moved our insurance brokerage business from Treasury / Other to Commercial Banking to align with a change in management responsibilities. During the 2014 fourth quarter, we moved the Asset Based Lending group back into the commercial division, and combined management with equipment finance and public capital to form the Asset Finance division. | ||||||||||||||||
Middle Market Banking primarily focuses on providing banking solutions to companies with annual revenues of $20 million to $250 million. Through a relationship management approach, various products, capabilities and solutions are seamlessly orchestrated in a client centric way. | ||||||||||||||||
Corporate Banking works with larger, often more complex companies with revenues greater than $250 million. These entities, many of which are publically traded, require a different and customized approach to their banking needs. | ||||||||||||||||
Specialty Banking offers tailored products and services to select industries that have a foothold in the Midwest. Each banking team is comprised of industry experts with a dynamic understanding of the market and industry. Many of these industries are experiencing tremendous change, which creates opportunities for Huntington to leverage our expertise and help clients navigate, adapt and succeed. | ||||||||||||||||
Asset Finance division is a combination of our Equipment Finance, Public Capital, Asset Based Lending, and Lender Finance divisions that focus on providing financing solutions against these respective asset classes. | ||||||||||||||||
Capital Markets has two distinct product capabilities: corporate risk management services and institutional sales, trading & underwriting. The Capital Markets Group offers a full suite of risk management tools including commodities, foreign exchange and interest rate hedging services. The Institutional Sales, Trading & Underwriting team provides access to capital and investment solutions for both municipal and corporate institutions. | ||||||||||||||||
Treasury Management teams help businesses manage their working capital programs and reduce expenses. Our liquidity solutions help customers save and invest wisely, while our payables and receivables capabilities help them manage purchases and the receipt of payments for good and services. All of this is provided while helping customers take a sophisticated approach to managing their overhead, inventory, equipment and labor. | ||||||||||||||||
Insurance brokerage business specializes in commercial property and casualty, employee benefits, personal lines, life and disability and specialty lines of insurance. We also provide brokerage and agency services for residential and commercial title insurance and excess and surplus product lines of insurance. As an agent and broker we do not assume underwriting risks; instead we provide our customers with quality, noninvestment insurance contracts. | ||||||||||||||||
Automobile Finance and Commercial Real Estate: This segment provides lending and other banking products and services to customers outside of our traditional retail and commercial banking segments. Our products and services include providing financing for the purchase of vehicles by customers at franchised automotive dealerships, financing the acquisition of new and used vehicle inventory of franchised automotive dealerships, and financing for land, buildings, and other commercial real estate owned or constructed by real estate developers, automobile dealerships, or other customers with real estate project financing needs. Products and services are delivered through highly specialized relationship-focused bankers and product partners. Huntington creates well-defined relationship plans which identify needs where solutions are developed and customer commitments are obtained. | ||||||||||||||||
The Automotive Finance team services automobile dealerships, its owners, and consumers buying automobiles through these franchised dealerships. Huntington has provided new and used automobile financing and dealer services throughout the Midwest since the early 1950s. This consistency in the market and our focus on working with strong dealerships, has allowed us to expand into selected markets outside of the Midwest and to actively deepen relationships while building a strong reputation. | ||||||||||||||||
The Commercial Real Estate team serves real estate developers, REITs, and other customers with lending needs that are secured by commercial properties. Most of these customers are located within our footprint. | ||||||||||||||||
Regional Banking and The Huntington Private Client Group: The RBHPCG business segment was created as the result of an organizational and management realignment that occurred in January 2014. Regional Banking and The Huntington Private Client Group is well positioned competitively as we have closely aligned with our eleven regional banking markets. A fundamental point of differentiation is our commitment to be actively engaged within our local markets - building connections with community and business leaders and offering a uniquely personal experience delivered by colleagues working within those markets. | ||||||||||||||||
The Huntington Private Client Group is organized into units consisting of The Huntington Private Bank, The Huntington Trust, The Huntington Investment Company, Huntington Community Development, Huntington Asset Advisors, and Huntington Asset Services. Our private banking, trust, investment and community development functions focus their efforts in our Midwest footprint and Florida; while our proprietary funds and ETFs, fund administration, custody and settlements functions target a national client base. | ||||||||||||||||
The Huntington Private Bank provides high net-worth customers with deposit, lending (including specialized lending options) and banking services. | ||||||||||||||||
The Huntington Trust also serves high net-worth customers and delivers wealth management and legacy planning through investment and portfolio management, fiduciary administration, trust services and trust operations. This group also provides retirement plan services and corporate trust to businesses and municipalities. | ||||||||||||||||
The Huntington Investment Company, a dually registered broker-dealer and registered investment adviser, employs representatives who work with our Retail and Private Bank to provide investment solutions for our customers. This team offers a wide range of products and services, including brokerage, annuities, advisory and other investment products. | ||||||||||||||||
Huntington Community Development focuses on improving the quality of life for our communities and the residents of low-to moderate-income neighborhoods by developing and delivering innovative products and services to support affordable housing and neighborhood stabilization. | ||||||||||||||||
Huntington Asset Advisors provides investment management services solely advising the Huntington Funds, our proprietary family of mutual funds and Huntington Strategy Shares, our Exchange Trade Funds. | ||||||||||||||||
Huntington Asset Services has a national clientele and offers administrative and operational support to fund complexes, including fund accounting, transfer agency, administration, custody, and distribution services. This group also includes National Settlements which works with law firms and the court system to provide custody and settlement distribution services. | ||||||||||||||||
Home Lending: Home Lending originates and services consumer loans and mortgages for customers who are generally located in our primary banking markets. Consumer and mortgage lending products are primarily distributed through the Retail and Business Banking segment, as well as through commissioned loan originators. Home lending earns interest on loans held in the warehouse and portfolio, earns fee income from the origination and servicing of mortgage loans, and recognizes gains or losses from the sale of mortgage loans. Home Lending supports the origination and servicing of mortgage loans across all segments. | ||||||||||||||||
Listed below is certain financial information reconciled to Huntington’s December 31, 2014, December 31, 2013, and December 31, 2012, reported results by business segment: | ||||||||||||||||
Retail & | ||||||||||||||||
Income Statements | Business | Commercial | Home | Treasury / | Huntington | |||||||||||
(dollar amounts in thousands) | Banking | Banking | AFCRE | RBHPCG | Lending | Other | Consolidated | |||||||||
2014 | ||||||||||||||||
Net interest income | $ | 912,992 | 306,434 | $ | 379,363 | $ | 101,839 | $ | 58,015 | $ | 78,498 | $ | 1,837,141 | |||
Provision for credit losses | 75,529 | 31,521 | -52,843 | 4,893 | 21,889 | --- | 80,989 | |||||||||
Noninterest income | 409,746 | 209,238 | 26,628 | 173,550 | 69,899 | 90,118 | 979,179 | |||||||||
Noninterest expense | 982,288 | 249,300 | 156,715 | 236,634 | 136,374 | 121,035 | 1,882,346 | |||||||||
Provision (benefit) for income taxes | 92,722 | 82,198 | 105,742 | 11,852 | -10,622 | -61,299 | 220,593 | |||||||||
Net income (loss) | $ | 172,199 | $ | 152,653 | $ | 196,377 | $ | 22,010 | $ | -19,727 | $ | 108,880 | $ | 632,392 | ||
2013 | ||||||||||||||||
Net interest income | $ | 902,526 | $ | 281,461 | $ | 366,508 | $ | 105,862 | $ | 51,839 | $ | -3,588 | $ | 1,704,608 | ||
Provision for credit losses | 137,978 | 27,464 | -82,269 | -5,376 | 12,249 | -1 | 90,045 | |||||||||
Noninterest income | 398,065 | 200,573 | 46,819 | 186,430 | 106,006 | 74,303 | 1,012,196 | |||||||||
Noninterest expense | 964,193 | 254,629 | 156,469 | 236,895 | 141,489 | 4,328 | 1,758,003 | |||||||||
Provision (benefit) for income taxes | 69,447 | 69,979 | 118,694 | 21,271 | 1,437 | -53,354 | 227,474 | |||||||||
Net income | $ | 128,973 | $ | 129,962 | $ | 220,433 | $ | 39,502 | $ | 2,670 | $ | 119,742 | $ | 641,282 | ||
2012 | ||||||||||||||||
Net interest income | $ | 941,844 | $ | 294,333 | $ | 369,376 | $ | 104,329 | $ | 54,980 | $ | -54,338 | $ | 1,710,524 | ||
Provision for credit losses | 135,102 | 4,602 | -16,557 | 6,044 | 18,198 | -1 | 147,388 | |||||||||
Noninterest income | 380,820 | 197,191 | 91,314 | 181,650 | 165,189 | 90,157 | 1,106,321 | |||||||||
Noninterest expense | 973,691 | 248,157 | 160,434 | 253,901 | 132,302 | 67,391 | 1,835,876 | |||||||||
Provision (benefit) for income taxes | 74,855 | 83,568 | 110,885 | 9,112 | 24,384 | -100,513 | 202,291 | |||||||||
Net income | $ | 139,016 | $ | 155,197 | $ | 205,928 | $ | 16,922 | $ | 45,285 | $ | 68,942 | $ | 631,290 | ||
Assets at | Deposits at | |||||||||||||||
December 31, | December 31, | |||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Retail & Business Banking | $ | 15,146,857 | $ | 14,440,869 | $ | 29,350,255 | $ | 28,293,993 | ||||||||
Commercial Banking | 15,043,477 | 12,410,339 | 11,184,566 | 10,187,891 | ||||||||||||
AFCRE | 16,027,910 | 14,081,112 | 1,377,921 | 1,170,518 | ||||||||||||
RBHPCG | 3,871,020 | 3,736,790 | 6,727,892 | 6,094,135 | ||||||||||||
Home Lending | 3,949,247 | 3,742,527 | 326,841 | 329,511 | ||||||||||||
Treasury / Other | 12,259,499 | 11,055,537 | 2,764,676 | 1,430,670 | ||||||||||||
Total | $ | 66,298,010 | $ | 59,467,174 | $ | 51,732,151 | $ | 47,506,718 | ||||||||
Quarterly_Results_of_Operation
Quarterly Results of Operations (Unaudited) | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Quarterly Financial Information Disclosure [Abstract] | ||||||||||
Quarterly Financial Information [Text Block] | 25. Quarterly Results of Operations (Unaudited) | |||||||||
The following is a summary of the quarterly results of operations, for the years ended December 31, 2014 and 2013: | ||||||||||
2014 | ||||||||||
(dollar amounts in thousands, except per share data) | Fourth | Third | Second | First | ||||||
Interest income | $ | 507,625 | $ | 501,060 | $ | 495,322 | $ | 472,455 | ||
Interest expense | 34,373 | 34,725 | 35,274 | 34,949 | ||||||
Net interest income | 473,252 | 466,335 | 460,048 | 437,506 | ||||||
Provision for credit losses | 2,494 | 24,480 | 29,385 | 24,630 | ||||||
Noninterest income | 233,278 | 247,349 | 250,067 | 248,485 | ||||||
Noninterest expense | 483,271 | 480,318 | 458,636 | 460,121 | ||||||
Income before income taxes | 220,765 | 208,886 | 222,094 | 201,240 | ||||||
Provision for income taxes | 57,151 | 53,870 | 57,475 | 52,097 | ||||||
Net income | 163,614 | 155,016 | 164,619 | 149,143 | ||||||
Dividends on preferred shares | 7,963 | 7,964 | 7,963 | 7,964 | ||||||
Net income applicable to common shares | $ | 155,651 | $ | 147,052 | $ | 156,656 | $ | 141,179 | ||
Net income per common share -- Basic | $ | 0.19 | $ | 0.18 | $ | 0.19 | $ | 0.17 | ||
Net income per common share -- Diluted | 0.19 | 0.18 | 0.19 | 0.17 | ||||||
2013 | ||||||||||
(dollar amounts in thousands, except per share data) | Fourth | Third | Second | First | ||||||
Interest income | $ | 469,824 | $ | 462,912 | $ | 462,582 | $ | 465,319 | ||
Interest expense | 39,175 | 38,060 | 37,645 | 41,149 | ||||||
Net interest income | 430,649 | 424,852 | 424,937 | 424,170 | ||||||
Provision for credit losses | 24,331 | 11,400 | 24,722 | 29,592 | ||||||
Noninterest income | 249,892 | 253,767 | 251,919 | 256,618 | ||||||
Noninterest expense | 446,009 | 423,336 | 445,865 | 442,793 | ||||||
Income before income taxes | 210,201 | 243,883 | 206,269 | 208,403 | ||||||
Provision for income taxes | 52,029 | 65,047 | 55,269 | 55,129 | ||||||
Net income | 158,172 | 178,836 | 151,000 | 153,274 | ||||||
Dividends on preferred shares | 7,965 | 7,967 | 7,967 | 7,970 | ||||||
Net income applicable to common shares | $ | 150,207 | $ | 170,869 | $ | 143,033 | $ | 145,304 | ||
Net income per common share -- Basic | $ | 0.18 | $ | 0.21 | $ | 0.17 | $ | 0.17 | ||
Net income per common share -- Diluted | 0.18 | 0.2 | 0.17 | 0.17 |
Significant_Accounting_Policie
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2014 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | Huntington Bancshares Incorporated |
Notes to Consolidated Financial Statements | |
1. SIGNIFICANT ACCOUNTING POLICIES | |
Nature of Operations — Huntington Bancshares Incorporated (Huntington or the Company) is a multi-state diversified regional bank holding company organized under Maryland law in 1966 and headquartered in Columbus, Ohio. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), Huntington is engaged in providing full-service commercial, small business, consumer banking services, mortgage banking services, automobile financing, equipment leasing, investment management, trust services, brokerage services, customized insurance programs, and other financial products and services. Huntington’s banking offices are located in Ohio, Michigan, Pennsylvania, Indiana, West Virginia, and Kentucky. Select financial services and other activities are also conducted in various other states. International banking services are available through the headquarters office in Columbus, Ohio and a limited purpose office located in the Cayman Islands and another in Hong Kong. | |
Basis of Presentation — The Consolidated Financial Statements include the accounts of Huntington and its majority-owned subsidiaries and are presented in accordance with GAAP. All intercompany transactions and balances have been eliminated in consolidation. Companies in which Huntington holds more than a 50% voting equity interest, or a controlling financial interest, or are a VIE in which Huntington has the power to direct the activities of an entity that most significantly impact the entity’s economic performance and has an obligation to absorb losses or the right to receive benefits from the VIE which could potentially be significant to the VIE are consolidated. VIEs are legal entities with insubstantial equity, whose equity investors lack the ability to make decisions about the entity’s activities, or whose equity investors do not have the right to receive the residual returns of the entity if they occur. VIEs in which Huntington does not hold the power to direct the activities of the entity that most significantly impact the entity’s economic performance or does not have an obligation to absorb losses or the right to receive benefits from the VIE which could potentially be significant to the VIE are not consolidated. For consolidated entities where Huntington holds less than a 100% interest, Huntington recognizes non-controlling interest (included in shareholders’ equity) for the equity held by others and non-controlling profit or loss (included in noninterest expense) for the portion of the entity’s earnings attributable to other’s interests. Investments in companies that are not consolidated are accounted for using the equity method when Huntington has the ability to exert significant influence. Those investments in nonmarketable securities for which Huntington does not have the ability to exert significant influence are generally accounted for using the cost method. Investments in private investment partnerships that are accounted for under the equity method or the cost method are included in accrued income and other assets and Huntington’s proportional interest in the equity investments’ earnings are included in other noninterest income. Investment interests accounted for under the cost and equity methods are periodically evaluated for impairment. | |
The preparation of financial statements in conformity with GAAP requires Management to make estimates and assumptions that significantly affect amounts reported in the Consolidated Financial Statements. Huntington utilizes processes that involve the use of significant estimates and the judgments of Management in determining the amount of its allowance for credit losses, income taxes deferred tax assets, and contingent liabilities, as well as fair value measurements of investment securities, derivatives, goodwill, pension assets and liabilities, mortgage servicing rights, and loans held for sale. As with any estimate, actual results could differ from those estimates. | |
Certain prior period amounts have been reclassified to conform to the current year’s presentation. | |
Resale and Repurchase Agreements — Securities purchased under agreements to resell and securities sold under agreements to repurchase are treated as collateralized financing transactions and are recorded at the amounts at which the securities were acquired or sold plus accrued interest. The fair value of collateral either received from or provided to a third party is continually monitored and additional collateral is obtained or requested to be returned to Huntington in accordance with the agreement. | |
Securities — Securities purchased with the intention of recognizing short-term profits or which are actively bought and sold are classified as trading account securities and reported at fair value. The unrealized gains or losses on trading account securities are recorded in other noninterest income, except for gains and losses on trading account securities used to hedge the fair value of MSRs, which are included in mortgage banking income. Debt securities purchased in which Huntington has the positive intent and ability to hold to its maturity are classified as held-to-maturity securities. Held-to-maturity securities are recorded at amortized cost. All other debt and equity securities are classified as available-for-sale and other securities. Unrealized gains or losses on available-for-sale and other securities are reported as a separate component of accumulated OCI in the Consolidated Statements of Changes in Shareholders’ Equity. Credit-related declines in the value of debt and marketable equity securities that are considered other-than-temporary are recorded in noninterest income. | |
Huntington evaluates its investment securities portfolio on a quarterly basis for indicators of OTTI. Huntington assesses whether OTTI has occurred when the fair value of a debt security is less than the amortized cost basis at the balance sheet date. Management reviews the amount of unrealized loss, the length of time the security has been in an unrealized loss position, the credit rating history, market trends of similar security classes, time remaining to maturity, and the source of both interest and principal payments to identify securities which could potentially be impaired. OTTI is considered to have occurred (1) if Huntington intends to sell the security; (2) if it is more likely than not Huntington will be required to sell the security before recovery of its amortized cost basis; or (3) the present value of expected cash flows are not sufficient to recover all contractually required principal and interest payments. For securities that Huntington does not expect to sell, or it is not more likely than not to be required to sell, the OTTI is separated into credit and noncredit components. A discounted cash flow analysis, which includes evaluating the timing of the expected cash flows, is completed for all debt securities subject to credit impairment. The measurement of the credit loss component is equal to the difference between the debt security’s cost basis and the present value of its expected future cash flows discounted at the security’s effective yield. The credit-related OTTI, represented by the expected loss in principal, is recognized in noninterest income. The remaining difference between the security’s fair value and the present value of future expected cash flows is due to factors that are not credit-related and, therefore, are recognized in OCI. Huntington believes that it will fully collect the carrying value of securities on which noncredit-related OTTI has been recognized in OCI. Noncredit-related OTTI results from other factors, including increased liquidity spreads and extension of the security. For securities which Huntington does expect to sell, or if it is more likely than not Huntington will be required to sell the security before recovery of its amortized cost basis, all OTTI is recognized in earnings. Presentation of OTTI is made in the Consolidated Statements of Income on a gross basis with a reduction for the amount of OTTI recognized in OCI. Once an OTTI is recorded, when future cash flows can be reasonably estimated, future cash flows are re-allocated between interest and principal cash flows to provide for a level-yield on the security. | |
Securities transactions are recognized on the trade date (the date the order to buy or sell is executed). The carrying value plus any related OCI balance of sold securities is used to compute realized gains and losses. Interest and dividends on securities, including amortization of premiums and accretion of discounts using the effective interest method over the period to maturity, are included in interest income. | |
Nonmarketable equity securities include stock acquired for regulatory purposes, such as Federal Home Loan Bank stock and Federal Reserve Bank stock. These securities are accounted for at cost, evaluated for impairment, and included in available-for-sale and other securities. Loans and Leases — Loans and direct financing leases for which Huntington has the intent and ability to hold for the foreseeable future, or until maturity or payoff, are classified in the Consolidated Balance Sheets as loans and leases. Except for loans which are subject to fair value requirements, loans and leases are carried at the principal amount outstanding, net of unamortized deferred loan origination fees and costs and net of unearned income. Direct financing leases are reported at the aggregate of lease payments receivable and estimated residual values, net of unearned and deferred income. Interest income is accrued as earned using the interest method based on unpaid principal balances. Huntington defers the fees it receives from the origination of loans and leases, as well as the direct costs of those activities. Huntington also acquires loans at a premium and at a discount to their contractual values. Huntington amortizes loan discounts, premiums, and net loan origination fees and costs on a level-yield basis over the estimated lives of the related loans. | |
Troubled debt restructurings are loans for which the original contractual terms have been modified to provide a concession to a borrower experiencing financial difficulties. Loan modifications are considered TDRs when the concessions provided are not available to the borrower through either normal channels or other sources. However, not all loan modifications are TDRs. Modifications resulting in troubled debt restructurings may include changes to one or more terms of the loan, including but not limited to, a change in interest rate, an extension of the amortization period, a reduction in payment amount, and partial forgiveness or deferment of principal or accrued interest. | |
Residual values on leased equipment are evaluated quarterly for impairment. Impairment of the residual values of direct financing leases determined to be other than temporary is recognized by writing the leases down to fair value with a charge to other noninterest expense. Residual value losses arise if the expected fair value at the end of the lease term is less than the residual value recorded at the lease origination, net of estimated amounts reimbursable by the lessee. Future declines in the expected residual value of the leased equipment would result in expected losses of the leased equipment. | |
For leased equipment, the residual component of a direct financing lease represents the estimated fair value of the leased equipment at the end of the lease term. Huntington uses industry data, historical experience, and independent appraisals to establish these residual value estimates. Additional information regarding product life cycle, product upgrades, as well as insight into competing products are obtained through relationships with industry contacts and are factored into residual value estimates where applicable. | |
Loans Held for Sale — Loans and loan commitments in which Huntington does not have the intent and ability to hold for the foreseeable future are classified as loans held for sale. Loans held for sale (excluding loans originated or acquired with the intent to sell, which are carried at fair value) are carried at the lower of cost or fair value less cost to sell. The fair value option is generally elected for mortgage loans held for sale to facilitate hedging of the loans. Fair value is determined based on collateral value and prevailing market prices for loans with similar characteristics. Nonmortgage loans held for sale are measured on an aggregate asset basis. | |
Allowance for Credit Losses — Huntington maintains two reserves, both of which reflect Management’s judgment regarding the appropriate level necessary to absorb credit losses inherent in our loan and lease portfolio: the ALLL and the AULC. Combined, these reserves comprise the total ACL. The determination of the ACL requires significant estimates, including the timing and amounts of expected future cash flows on impaired loans and leases, consideration of current economic conditions, and historical loss experience pertaining to pools of homogeneous loans and leases, all of which may be susceptible to change. | |
The appropriateness of the ACL is based on Management’s current judgments about the credit quality of the loan portfolio. These judgments consider on-going evaluations of the loan and lease portfolio, including such factors as the differing economic risks associated with each loan category, the financial condition of specific borrowers, the level of delinquent loans, the value of any collateral and, where applicable, the existence of any guarantees or other documented support. Further, Management evaluates the impact of changes in interest rates and overall economic conditions on the ability of borrowers to meet their financial obligations when quantifying our exposure to credit losses and assessing the appropriateness of our ACL at each reporting date. In addition to general economic conditions and the other factors described above, additional factors also considered include: the impact of increasing or decreasing residential real estate values; the diversification of CRE loans; the development of new or expanded Commercial business segments such as healthcare, ABL, and energy, and the overall condition of the manufacturing industry. Also, the ACL assessment includes the on-going assessment of credit quality metrics, and a comparison of certain ACL benchmarks to current performance. Management’s determinations regarding the appropriateness of the ACL are reviewed and approved by the Company’s Audit and Risk Oversight Committees. | |
The ALLL consists of two components: (1) the transaction reserve, which includes a loan level allocation, specific reserves related to loans considered to be impaired, and loans involved in troubled debt restructurings, and (2) the general reserve. The transaction reserve component includes both (1) an estimate of loss based on pools of commercial and consumer loans and leases with similar characteristics and (2) an estimate of loss based on an impairment review of each impaired C&I and CRE loan greater than $1.0 million. For the C&I and CRE portfolios, the estimate of loss based on pools of loans and leases with similar characteristics is made by applying a PD factor and a LGD factor to each individual loan based on a regularly updated loan grade, using a standardized loan grading system. The PD factor and an LGD factor are determined for each loan grade using statistical models based on historical performance data. The PD factor considers on-going reviews of the financial performance of the specific borrower, including cash flow, debt-service coverage ratio, earnings power, debt level, and equity position, in conjunction with an assessment of the borrower’s industry and future prospects. The LGD factor considers analysis of the type of collateral and the relative LTV ratio. These reserve factors are developed based on credit migration models that track historical movements of loans between loan ratings over time and a combination of long-term average loss experience of our own portfolio and external industry data using a 24-month emergence period. | |
In the case of more homogeneous portfolios, such as automobile loans, home equity loans, and residential mortgage loans, the determination of the transaction reserve also incorporates PD and LGD factors. The estimate of loss is based on pools of loans and leases with similar characteristics. The PD factor considers current credit scores unless the account is delinquent, in which case a higher PD factor is used. The credit score provides a basis for understanding the borrower’s past and current payment performance, and this information is used to estimate expected losses over the 12-month emergence period. The performance of first-lien loans ahead of our junior-lien loans is available to use as part of our updated score process. The LGD factor considers analysis of the type of collateral and the relative LTV ratio. Credit scores, models, analyses, and other factors used to determine both the PD and LGD factors are updated frequently to capture the recent behavioral characteristics of the subject portfolios, as well as any changes in loss mitigation or credit origination strategies, and adjustments to the reserve factors are made as required. Models utilized in the ALLL estimation process are subject to the Company’s model validation policies. | |
The general reserve consists of the economic reserve and risk-profile reserve components. The economic reserve component considers the impact of changing market and economic conditions on portfolio performance. The risk-profile component considers items unique to our structure, policies, processes, and portfolio composition, as well as qualitative measurements and assessments of the loan portfolios including, but not limited to, management quality, concentrations, portfolio composition, industry comparisons, and internal review functions. | |
The estimate for the AULC is determined using the same procedures and methodologies as used for the ALLL. The loss factors used in the AULC are the same as the loss factors used in the ALLL while also considering a historical utilization of unused commitments. The AULC is recorded in accrued expenses and other liabilities in the Consolidated Balance Sheets. | |
Nonaccrual and Past Due Loans — Loans are considered past due when the contractual amounts due with respect to principal and interest are not received within 30 days of the contractual due date. | |
Any loan in any portfolio may be placed on nonaccrual status prior to the policies described below when collection of principal or interest is in doubt. When a borrower with debt is discharged in a Chapter 7 bankruptcy and not reaffirmed by the borrower, the loan is determined to be collateral dependent and placed on nonaccrual status, unless there is a co-borrower. | |
All classes within the C&I and CRE portfolios (except for purchased credit-impaired loans) are placed on nonaccrual status at 90-days past due. First-lien home equity loans are placed on nonaccrual status at 150-days past due. Junior-lien home equity loans are placed on nonaccrual status at the earlier of 120-days past due or when the related first-lien loan has been identified as nonaccrual. Automobile and other consumer loans are generally charged-off when the loan is 120-days past due. Residential mortgage loans are placed on nonaccrual status at 150-days past due, with the exception of residential mortgages guaranteed by government agencies which continue to accrue interest at the rate guaranteed by the government agency. We are reimbursed from the government agency for reasonable expenses incurred in servicing loans. The FHA reimburses us for 66% of expenses, and the VA reimburses us at a maximum percentage of guarantee which is established for each individual loan. We have not experienced either material losses in excess of guarantee caps or significant delays or rejected claims from the related government entity. | |
For all classes within all loan portfolios, when a loan is placed on nonaccrual status, any accrued interest income is reversed with current year accruals charged to interest income, and prior year amounts charged-off as a credit loss. | |
For all classes within all loan portfolios, cash receipts received on NALs are applied against principal until the loan or lease has been collected in full, after which time any additional cash receipts are recognized as interest income. However, for secured non-reaffirmed debt in a Chapter 7 bankruptcy, payments are applied to principal and interest when the borrower has demonstrated a capacity to continue payment of the debt and collection of the debt is reasonably assured. For unsecured non-reaffirmed debt in a Chapter 7 bankruptcy where the carrying value has been fully charged-off, payments are recorded as loan recoveries. | |
Regarding all classes within the C&I and CRE portfolios, the determination of a borrower's ability to make the required principal and interest payments is based on an examination of the borrower's current financial statements, industry, management capabilities, and other qualitative measures. For all classes within the consumer loan portfolio, the determination of a borrower's ability to make the required principal and interest payments is based on multiple factors, including number of days past due and, in some instances, an evaluation of the borrower's financial condition. When, in Management's judgment, the borrower's ability to make required principal and interest payments resumes and collectability is no longer in doubt, the loan is returned to accrual status. For these loans that have been returned to accrual status, cash receipts are applied according to the contractual terms of the loan. | |
Charge-off of Uncollectible Loans — Any loan in any portfolio may be charged-off prior to the policies described below if a loss confirming event has occurred. Loss confirming events include, but are not limited to, bankruptcy (unsecured), continued delinquency, foreclosure, or receipt of an asset valuation indicating a collateral deficiency and that asset is the sole source of repayment. Additionally, discharged, collateral dependent non-reaffirmed debt in Chapter 7 bankruptcy filings will result in a charge-off to estimated collateral value, less anticipated selling costs. | |
C&I and CRE loans are either charged-off or written down to net realizable value at 90-days past due. Automobile loans and other consumer loans are charged-off at 120-days past due. First-lien and junior-lien home equity loans are charged-off to the estimated fair value of the collateral, less anticipated selling costs, at 150-days past due and 120-days past due, respectively. Residential mortgages are charged-off to the estimated fair value of the collateral at 150-days past due. | |
Impaired Loans — For all classes within the C&I and CRE portfolios, all loans with an outstanding balance of $1.0 million or greater are evaluated on a quarterly basis for impairment. Generally, consumer loans within any class are not individually evaluated on a regular basis for impairment. All TDRs, regardless of the outstanding balance amount, are also considered to be impaired. Loans acquired with evidence of deterioration in credit quality since origination for which it is probable at acquisition that all contractually required payments will not be collected are also considered to be impaired. | |
Once a loan has been identified for an assessment of impairment, the loan is considered impaired when, based on current information and events, it is probable that all amounts due according to the contractual terms of the loan agreement will not be collected. This determination requires significant judgment and use of estimates, and the eventual outcome may differ significantly from those estimates. | |
When a loan in any class has been determined to be impaired, the amount of the impairment is measured using the present value of expected future cash flows discounted at the loan’s effective interest rate or, as a practical expedient, the observable market price of the loan, or the fair value of the collateral, less anticipated selling costs, if the loan is collateral dependent. When the present value of expected future cash flows is used, the effective interest rate is the original contractual interest rate of the loan adjusted for any premium or discount. When the contractual interest rate is variable, the effective interest rate of the loan changes over time. A specific reserve is established as a component of the ALLL when a loan has been determined to be impaired. Subsequent to the initial measurement of impairment, if there is a significant change to the impaired loan's expected future cash flows, or if actual cash flows are significantly different from the cash flows previously estimated, Huntington recalculates the impairment and appropriately adjusts the specific reserve. Similarly, if Huntington measures impairment based on the observable market price of an impaired loan or the fair value of the collateral of an impaired collateral dependent loan, Huntington will adjust the specific reserve. | |
When a loan within any class is impaired, the accrual of interest income is discontinued unless the receipt of principal and interest is no longer in doubt. Interest income on TDRs is accrued when all principal and interest is expected to be collected under the post-modification terms. Cash receipts received on nonaccruing impaired loans within any class are generally applied entirely against principal until the loan has been collected in full, after which time any additional cash receipts are recognized as interest income. Cash receipts received on accruing impaired loans within any class are applied in the same manner as accruing loans that are not considered impaired. | |
Purchased Credit-Impaired Loans — Purchased loans with evidence of deterioration in credit quality since origination for which it is probable at acquisition that we will be unable to collect all contractually required payments are considered to be credit impaired. Purchased credit-impaired loans are initially recorded at fair value, which is estimated by discounting the cash flows expected to be collected at the acquisition date. Because the estimate of expected cash flows reflects an estimate of future credit losses expected to be incurred over the life of the loans, an allowance for credit losses is not recorded at the acquisition date. The excess of cash flows expected at acquisition over the estimated fair value, referred to as the accretable yield, is recognized in interest income over the remaining life of the loan, or pool of loans, on a level-yield basis. The difference between the contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the nonaccretable difference. A subsequent decrease in the estimate of cash flows expected to be received on purchased credit-impaired loans generally results in the recognition of an allowance for credit losses. Subsequent increases in cash flows result in reversal of any nonaccretable difference (or allowance for loan and lease losses to the extent any has been recorded) with a positive impact on interest income subsequently recognized. The measurement of cash flows involves assumptions and judgments for interest rates, prepayments, default rates, loss severity, and collateral values. All of these factors are inherently subjective and significant changes in the cash flow estimates over the life of the loan can result. | |
Transfers of Financial Assets and Securitizations — Transfers of financial assets in which we have surrendered control over the transferred assets are accounted for as sales. In assessing whether control has been surrendered, we consider whether the transferee would be a consolidated affiliate, the existence and extent of any continuing involvement in the transferred financial assets, and the impact of all arrangements or agreements made contemporaneously with, or in contemplation of, the transfer, even if they were not entered into at the time of transfer. Control is generally considered to have been surrendered when (i) the transferred assets have been | |
legally isolated from us or any of our consolidated affiliates, even in bankruptcy or other receivership, (ii) the transferee (or, if the transferee is an entity whose sole purpose is to engage in securitization or asset-backed financing that is constrained from pledging or exchanging the assets it receives, each third-party holder of its beneficial interests) has the right to pledge or exchange the assets (or beneficial interests) it received without any constraints that provide more than a trivial benefit to us, and (iii) neither we nor our consolidated affiliates and agents have (a) both the right and obligation under any agreement to repurchase or redeem the transferred assets before their maturity, (b) the unilateral ability to cause the holder to return specific financial assets that also provides us with a more-than-trivial benefit (other than through a cleanup call) or (c) an agreement that permits the transferee to require us to repurchase the transferred assets at a price so favorable that it is probable that it will require us to repurchase them. | |
If the sale criteria are met, the transferred financial assets are removed from our balance sheet and a gain or loss on sale is recognized. If the sale criteria are not met, the transfer is recorded as a secured borrowing in which the assets remain on our balance sheet and the proceeds from the transaction are recognized as a liability. For the majority of financial asset transfers, it is clear whether or not we have surrendered control. For other transfers, such as in connection with complex transactions or where we have continuing involvement, we generally obtain a legal opinion as to whether the transfer results in a true sale by law. | |
We have historically securitized certain automobile receivables. Gains and losses on the loans and leases sold and servicing rights associated with loan and lease sales are determined when the related loans or leases are sold to either a securitization trust or third party. For loan or lease sales with servicing retained, a servicing asset is recorded at fair value for the right to service the loans sold. | |
Derivative Financial Instruments — A variety of derivative financial instruments, principally interest rate swaps, caps, floors, and collars, are used in asset and liability management activities to protect against the risk of adverse price or interest rate movements. These instruments provide flexibility in adjusting Huntington’s sensitivity to changes in interest rates without exposure to loss of principal and higher funding requirements. | |
Huntington also uses derivatives, principally loan sale commitments, in hedging its mortgage loan interest rate lock commitments and its mortgage loans held for sale. Mortgage loan sale commitments and the related interest rate lock commitments are carried at fair value on the Consolidated Balance Sheets with changes in fair value reflected in mortgage banking income. Huntington also uses certain derivative financial instruments to offset changes in value of its MSRs. These derivatives consist primarily of forward interest rate agreements and forward mortgage contracts. The derivative instruments used are not designated as hedges. Accordingly, such derivatives are recorded at fair value with changes in fair value reflected in mortgage banking income. | |
Derivative financial instruments are recorded in the Consolidated Balance Sheets as either an asset or a liability (in accrued income and other assets or accrued expenses and other liabilities, respectively) and measured at fair value. On the date a derivative contract is entered into, we designate it as either: | |
• a qualifying hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (fair value | |
hedge); | |
• a qualifying hedge of the variability of cash flows to be received or paid related to a recognized asset liability or forecasted | |
transaction (cash flow hedge); or | |
• a trading instrument or a non-qualifying (economic) hedge. | |
Changes in the fair value of a derivative that has been designated and qualifies as a fair value hedge, along with the changes in the fair value of the hedged asset or liability that is attributable to the hedged risk, are recorded in current period earnings. Changes in the fair value of a derivative that has been designated and qualifies as a cash flow hedge, to the extent effective as a hedge, are recorded in accumulated other comprehensive income, net of income taxes, and reclassified into earnings in the period during which the hedged item affects earnings. Ineffectiveness in the hedging relationship is reflected in current period earnings. Changes in the fair value of derivatives held for trading purposes or which do not qualify for hedge accounting are reported in current period earnings. | |
For those derivatives to which hedge accounting is applied, Huntington formally documents the hedging relationship and the risk management objective and strategy for undertaking the hedge. This documentation identifies the hedging instrument, the hedged item or transaction, the nature of the risk being hedged, and, unless the hedge meets all of the criteria to assume there is no ineffectiveness, the method that will be used to assess the effectiveness of the hedging instrument and how ineffectiveness will be measured. The methods utilized to assess retrospective hedge effectiveness, as well as the frequency of testing, vary based on the type of item being hedged and the designated hedge period. For specifically designated fair value hedges of certain fixed-rate debt, Huntington utilizes the short-cut method when certain criteria are met. For other fair value hedges of fixed-rate debt, including certificates of deposit, Huntington utilizes the regression method to evaluate hedge effectiveness on a quarterly basis. For fair value hedges of portfolio loans, the regression method is used to evaluate effectiveness on a daily basis. For cash flow hedges, the regression method is applied on a quarterly basis. | |
Hedge accounting is discontinued prospectively when: | |
• the derivative is no longer effective or expected to be effective in offsetting changes in the fair value or cash flows of a hedged item (including firm commitments or forecasted transactions); | |
• the derivative expires or is sold, terminated, or exercised; | |
• it is unlikely that a forecasted transaction will occur; | |
• the hedged firm commitment no longer meets the definition of a firm commitment; or | |
• the designation of the derivative as a hedging instrument is removed. | |
When hedge accounting is discontinued because it is determined that the derivative no longer qualifies as an effective fair value or cash flow hedge, the derivative will continue to be carried on the balance sheet at fair value. | |
In the case of a discontinued fair value hedge of a recognized asset or liability, as long as the hedged item continues to exist on the balance sheet, the hedged item will no longer be adjusted for changes in fair value. The basis adjustment that had previously been recorded to the hedged item during the period from the hedge designation date to the hedge discontinuation date is recognized as an adjustment to the yield of the hedged item over the remaining life of the hedged item. | |
In the case of a discontinued cash flow hedge of a recognized asset or liability, as long as the hedged item continues to exist on the balance sheet, the effective portion of the changes in fair value of the hedging derivative will no longer be recorded to other comprehensive income. The balance applicable to the discontinued hedging relationship will be recognized in earnings over the remaining life of the hedged item as an adjustment to yield. If the discontinued hedged item was a forecasted transaction that is not expected to occur, any amounts recorded on the balance sheet related to the hedged item, including any amounts recorded in accumulated other comprehensive income, are immediately reclassified to current period earnings. | |
In the case of either a fair value hedge or a cash flow hedge, if the previously hedged item is sold or extinguished, the basis adjustment to the underlying asset or liability or any remaining unamortized other comprehensive income balance will be reclassified to current period earnings. | |
In all other situations in which hedge accounting is discontinued, the derivative will be carried at fair value on the consolidated balance sheets, with changes in its fair value recognized in current period earnings unless re-designated as a qualifying hedge. | |
Like other financial instruments, derivatives contain an element of credit risk, which is the possibility that Huntington will incur a loss because the counterparty fails to meet its contractual obligations. Notional values of interest rate swaps and other off-balance sheet financial instruments significantly exceed the credit risk associated with these instruments and represent contractual balances on which calculations of amounts to be exchanged are based. Credit exposure is limited to the sum of the aggregate fair value of positions that have become favorable to Huntington, including any accrued interest receivable due from counterparties. Potential credit losses are mitigated through careful evaluation of counterparty credit standing, selection of counterparties from a limited group of high quality institutions, collateral agreements, and other contract provisions. Huntington considers the value of collateral held and collateral provided in determining the net carrying value of derivatives. | |
Huntington offsets the fair value amounts recognized for derivative instruments and the fair value for the right to reclaim cash collateral or the obligation to return cash collateral arising from derivative instrument(s) recognized at fair value executed with the same counterparty under a master netting arrangement. | |
Repossessed Collateral — Repossessed collateral, also referred to as other real estate owned (OREO), is comprised principally of commercial and residential real estate properties obtained in partial or total satisfaction of loan obligations, and is carried at the lower of cost or fair value. Collateral obtained in satisfaction of a loan is recorded at the estimated fair value less anticipated selling costs based upon the property’s appraised value at the date of foreclosure, with any difference between the fair value of the property and the carrying value of the loan recorded as a charge-off. Subsequent declines in value are reported as adjustments to the carrying amount and are recorded in noninterest expense. Gains or losses resulting from the sale of collateral are recognized in noninterest expense at the date of sale. | |
Collateral — We pledge assets as collateral as required for various transactions including security repurchase agreements, public deposits, loan notes, derivative financial instruments, short-term borrowings and long-term borrowings. Assets that have been pledged as collateral, including those that can be sold or repledged by the secured party, continue to be reported on our Consolidated Balance Sheets. | |
We also accept collateral, primarily as part of various transactions including derivative and security resale agreements. Collateral accepted by us, including collateral that we can sell or repledge, is excluded from our Consolidated Balance Sheets. | |
The market value of collateral we have accepted or pledged is regularly monitored and additional collateral is obtained or provided as necessary to ensure appropriate collateral coverage in these transactions. Premises and Equipment — Premises and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation is computed principally by the straight-line method over the estimated useful lives of the related assets. Buildings and building improvements are depreciated over an average of 30 to 40 years and 10 to 30 years, respectively. Land improvements and furniture and fixtures are depreciated over an average of 5 to 20 years, while equipment is depreciated over a range of 3 to 10 years. Leasehold improvements are amortized over the lesser of the asset’s useful life or the lease term, including any renewal periods for which renewal is reasonably assured. Maintenance and repairs are charged to expense as incurred, while improvements that extend the useful life of an asset are capitalized and depreciated over the remaining useful life. Premises and equipment is evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. | |
Mortgage Servicing Rights — Huntington recognizes the rights to service mortgage loans as separate assets, which are included in accrued income and other assets in the Consolidated Balance Sheets when purchased, or when servicing is contractually separated from the underlying mortgage loans by sale or securitization of the loans with servicing rights retained. | |
For loan sales with servicing retained, a servicing asset is recorded at fair value for the right to service the loans sold. To determine the fair value of a MSR, Huntington uses an option adjusted spread cash flow analysis incorporating market implied forward interest rates to estimate the future direction of mortgage and market interest rates. The forward rates utilized are derived from the current yield curve for U.S. dollar interest rate swaps and are consistent with pricing of capital markets instruments. The current and projected mortgage interest rate influences the prepayment rate and, therefore, the timing and magnitude of the cash flows associated with the MSR. Servicing revenues on mortgage loans are included in mortgage banking income. | |
At the time of initial capitalization, MSRs may be grouped into servicing classes based on the availability of market inputs used in determining fair value and the method used for managing the risks of the servicing assets. MSR assets are recorded using the fair value method or the amortization method. The election of the fair value or amortization method is made at the time each servicing class is established. All newly created MSRs since 2009 were recorded using the amortization method. Any change in the fair value of MSRs carried under the fair value method, as well as amortization and impairment of MSRs under the amortization method, during the period is recorded in mortgage banking income, which is reflected in the Consolidated Statements of Income. Huntington hedges the value of certain MSRs using derivative instruments and trading securities. Changes in fair value of these derivatives and trading account securities are reported as a component of mortgage banking income. | |
Goodwill and Other Intangible Assets — Under the acquisition method of accounting, the net assets of entities acquired by Huntington are recorded at their estimated fair value at the date of acquisition. The excess cost of the acquisition over the fair value of net assets acquired is recorded as goodwill. Other intangible assets are amortized either on an accelerated or straight-line basis over their estimated useful lives. Goodwill is evaluated for impairment on an annual basis at October 1st of each year or whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Other intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. | |
Pension and Other Postretirement Benefits — We recognize the funded status of the postretirement benefit plans on the Consolidated Balance Sheets. Net postretirement benefit cost charged to current earnings related to these plans is based on various actuarial assumptions regarding expected future experience. | |
Certain employees are participants in various defined contribution and other non-qualified supplemental retirement plans. Our contributions to these plans are charged to current earnings. | |
In addition, we maintain a 401(k) plan covering substantially all employees. Employer contributions to the plan, which are charged to current earnings, are based on employee contributions. | |
Share-Based Compensation — We use the fair value based method of accounting for awards of HBAN stock granted to employees under various stock option and restricted share plans. Stock compensation costs are recognized prospectively for all new awards granted under these plans. Compensation expense relating to share options is calculated using a methodology that is based on the underlying assumptions of the Black-Scholes option pricing model and is charged to expense over the requisite service period (e.g. vesting period). Compensation expense relating to restricted stock awards is based upon the fair value of the awards on the date of grant and is charged to earnings over the requisite service period (e.g., vesting period) of the award. | |
Stock Repurchases — Acquisitions of Huntington stock are recorded at cost. The re-issuance of shares is recorded at weighted-average cost. | |
Income Taxes — Income taxes are accounted for under the asset and liability method. Accordingly, deferred tax assets and liabilities are recognized for the future book and tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are determined using enacted tax rates expected to apply in the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income at the time of enactment of such change in tax rates. Any interest or penalties due for payment of income taxes are included in the provision for income taxes. To the extent that we do not consider it more likely than not that a deferred tax asset will be recovered, a valuation allowance is recorded. All positive and negative evidence is reviewed when determining how much of a valuation allowance is recognized on a quarterly basis. In determining the requirements for a valuation allowance, sources of possible taxable income are evaluated including future reversals of existing taxable temporary differences, future taxable income exclusive of reversing temporary differences and carryforwards, taxable income in appropriate carryback years, and tax-planning strategies. Huntington applies a more likely than not recognition threshold for all tax uncertainties. | |
Bank Owned Life Insurance — Huntington’s bank owned life insurance policies are recorded at their cash surrender value. Huntington recognizes tax-exempt income from the periodic increases in the cash surrender value of these policies and from death benefits. A portion of the cash surrender value is supported by holdings in separate accounts. Book value protection for the separate accounts is provided by the insurance carriers and a highly rated major bank. | |
Fair Value Measurements — The Company records or discloses certain of its assets and liabilities at fair value. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Fair value measurements are classified within one of three levels in a valuation hierarchy based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows: | |
Level 1 – inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. | |
Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. | |
Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value measurement. | |
A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. | |
Segment Results — Accounting policies for the business segments are the same as those used in the preparation of the Consolidated Financial Statements with respect to activities specifically attributable to each business segment. However, the preparation of business segment results requires Management to establish methodologies to allocate funding costs and benefits, expenses, and other financial elements to each business segment. Changes are made in these methodologies as appropriate. | |
Statement of Cash Flows — Cash and cash equivalents are defined as cash and due from banks which includes amounts on deposit with the Federal Reserve and federal funds sold and securities purchased under resale agreements. | |
Transactions with Related Parties — In the normal course of business, we may enter into transactions with various related parties. These transactions occur at prevailing market rates and terms and include funding arrangements, transfers of financial assets, administrative and operational support, and other miscellaneous services. | |
Loans Past Due, Policy [Policy Text Block] | Loans are considered past due when the contractual amounts due with respect to principal and interest are not received within 30 days of the contractual due date. |
Nonaccrual Loans, Policy [Policy Text Block] | Any loan in any portfolio may be placed on nonaccrual status prior to the policies described below when collection of principal or interest is in doubt. When a borrower with debt is discharged in a Chapter 7 bankruptcy and not reaffirmed by the borrower, the loan is determined to be collateral dependent and placed on nonaccrual status, unless there is a co-borrower. |
All classes within the C&I and CRE portfolios (except for purchased credit-impaired loans) are placed on nonaccrual status at 90-days past due. First-lien home equity loans are placed on nonaccrual status at 150-days past due. Junior-lien home equity loans are placed on nonaccrual status at the earlier of 120-days past due or when the related first-lien loan has been identified as nonaccrual. Automobile and other consumer loans are generally charged-off when the loan is 120-days past due. Residential mortgage loans are placed on nonaccrual status at 150-days past due, with the exception of residential mortgages guaranteed by government agencies which continue to accrue interest at the rate guaranteed by the government agency. We are reimbursed from the government agency for reasonable expenses incurred in servicing loans. The FHA reimburses us for 66% of expenses, and the VA reimburses us at a maximum percentage of guarantee which is established for each individual loan. We have not experienced either material losses in excess of guarantee caps or significant delays or rejected claims from the related government entity. | |
For all classes within all loan portfolios, when a loan is placed on nonaccrual status, any accrued interest income is reversed with current year accruals charged to interest income, and prior year amounts charged-off as a credit loss. | |
For all classes within all loan portfolios, cash receipts received on NALs are applied against principal until the loan or lease has been collected in full, after which time any additional cash receipts are recognized as interest income. However, for secured non-reaffirmed debt in a Chapter 7 bankruptcy, payments are applied to principal and interest when the borrower has demonstrated a capacity to continue payment of the debt and collection of the debt is reasonably assured. For unsecured non-reaffirmed debt in a Chapter 7 bankruptcy where the carrying value has been fully charged-off, payments are recorded as loan recoveries. | |
Regarding all classes within the C&I and CRE portfolios, the determination of a borrower's ability to make the required principal and interest payments is based on an examination of the borrower's current financial statements, industry, management capabilities, and other qualitative measures. For all classes within the consumer loan portfolio, the determination of a borrower's ability to make the required principal and interest payments is based on multiple factors, including number of days past due and, in some instances, an evaluation of the borrower's financial condition. When, in Management's judgment, the borrower's ability to make required principal and interest payments resumes and collectability is no longer in doubt, the loan is returned to accrual status. For these loans that have been returned to accrual status, cash receipts are applied according to the contractual terms of the loan. | |
Allowance for Loan Losses, Policy [Policy Text Block] | Huntington maintains two reserves, both of which reflect Management’s judgment regarding the appropriate level necessary to absorb credit losses inherent in our loan and lease portfolio: the ALLL and the AULC. Combined, these reserves comprise the total ACL. The determination of the ACL requires significant estimates, including the timing and amounts of expected future cash flows on impaired loans and leases, consideration of current economic conditions, and historical loss experience pertaining to pools of homogeneous loans and leases, all of which may be susceptible to change. |
The appropriateness of the ACL is based on Management’s current judgments about the credit quality of the loan portfolio. These judgments consider on-going evaluations of the loan and lease portfolio, including such factors as the differing economic risks associated with each loan category, the financial condition of specific borrowers, the level of delinquent loans, the value of any collateral and, where applicable, the existence of any guarantees or other documented support. Further, Management evaluates the impact of changes in interest rates and overall economic conditions on the ability of borrowers to meet their financial obligations when quantifying our exposure to credit losses and assessing the appropriateness of our ACL at each reporting date. In addition to general economic conditions and the other factors described above, additional factors also considered include: the impact of increasing or decreasing residential real estate values; the diversification of CRE loans; the development of new or expanded Commercial business segments such as healthcare, ABL, and energy, and the overall condition of the manufacturing industry. Also, the ACL assessment includes the on-going assessment of credit quality metrics, and a comparison of certain ACL benchmarks to current performance. Management’s determinations regarding the appropriateness of the ACL are reviewed and approved by the Company’s Audit and Risk Oversight Committees. | |
The ALLL consists of two components: (1) the transaction reserve, which includes a loan level allocation, specific reserves related to loans considered to be impaired, and loans involved in troubled debt restructurings, and (2) the general reserve. The transaction reserve component includes both (1) an estimate of loss based on pools of commercial and consumer loans and leases with similar characteristics and (2) an estimate of loss based on an impairment review of each impaired C&I and CRE loan greater than $1.0 million. For the C&I and CRE portfolios, the estimate of loss based on pools of loans and leases with similar characteristics is made by applying a PD factor and a LGD factor to each individual loan based on a regularly updated loan grade, using a standardized loan grading system. The PD factor and an LGD factor are determined for each loan grade using statistical models based on historical performance data. The PD factor considers on-going reviews of the financial performance of the specific borrower, including cash flow, debt-service coverage ratio, earnings power, debt level, and equity position, in conjunction with an assessment of the borrower’s industry and future prospects. The LGD factor considers analysis of the type of collateral and the relative LTV ratio. These reserve factors are developed based on credit migration models that track historical movements of loans between loan ratings over time and a combination of long-term average loss experience of our own portfolio and external industry data using a 24-month emergence period. | |
In the case of more homogeneous portfolios, such as automobile loans, home equity loans, and residential mortgage loans, the determination of the transaction reserve also incorporates PD and LGD factors. The estimate of loss is based on pools of loans and leases with similar characteristics. The PD factor considers current credit scores unless the account is delinquent, in which case a higher PD factor is used. The credit score provides a basis for understanding the borrower’s past and current payment performance, and this information is used to estimate expected losses over the 12-month emergence period. The performance of first-lien loans ahead of our junior-lien loans is available to use as part of our updated score process. The LGD factor considers analysis of the type of collateral and the relative LTV ratio. Credit scores, models, analyses, and other factors used to determine both the PD and LGD factors are updated frequently to capture the recent behavioral characteristics of the subject portfolios, as well as any changes in loss mitigation or credit origination strategies, and adjustments to the reserve factors are made as required. Models utilized in the ALLL estimation process are subject to the Company’s model validation policies. | |
The general reserve consists of the economic reserve and risk-profile reserve components. The economic reserve component considers the impact of changing market and economic conditions on portfolio performance. The risk-profile component considers items unique to our structure, policies, processes, and portfolio composition, as well as qualitative measurements and assessments of the loan portfolios including, but not limited to, management quality, concentrations, portfolio composition, industry comparisons, and internal review functions. | |
The estimate for the AULC is determined using the same procedures and methodologies as used for the ALLL. The loss factors used in the AULC are the same as the loss factors used in the ALLL while also considering a historical utilization of unused commitments. The AULC is recorded in accrued expenses and other liabilities in the Consolidated Balance Sheets. | |
Chargeoff, Policy [Policy Text Block] | Any loan in any portfolio may be charged-off prior to the policies described below if a loss confirming event has occurred. Loss confirming events include, but are not limited to, bankruptcy (unsecured), continued delinquency, foreclosure, or receipt of an asset valuation indicating a collateral deficiency and that asset is the sole source of repayment. Additionally, discharged, collateral dependent non-reaffirmed debt in Chapter 7 bankruptcy filings will result in a charge-off to estimated collateral value, less anticipated selling costs. |
C&I and CRE loans are either charged-off or written down to net realizable value at 90-days past due. Automobile loans and other consumer loans are charged-off at 120-days past due. First-lien and junior-lien home equity loans are charged-off to the estimated fair value of the collateral, less anticipated selling costs, at 150-days past due and 120-days past due, respectively. Residential mortgages are charged-off to the estimated fair value of the collateral at 150-days past due. | |
Impaired Loans, Policy [Policy Text Block] | For all classes within the C&I and CRE portfolios, all loans with an outstanding balance of $1.0 million or greater are evaluated on a quarterly basis for impairment. Generally, consumer loans within any class are not individually evaluated on a regular basis for impairment. All TDRs, regardless of the outstanding balance amount, are also considered to be impaired. Loans acquired with evidence of deterioration in credit quality since origination for which it is probable at acquisition that all contractually required payments will not be collected are also considered to be impaired. |
Once a loan has been identified for an assessment of impairment, the loan is considered impaired when, based on current information and events, it is probable that all amounts due according to the contractual terms of the loan agreement will not be collected. This determination requires significant judgment and use of estimates, and the eventual outcome may differ significantly from those estimates. | |
When a loan in any class has been determined to be impaired, the amount of the impairment is measured using the present value of expected future cash flows discounted at the loan’s effective interest rate or, as a practical expedient, the observable market price of the loan, or the fair value of the collateral, less anticipated selling costs, if the loan is collateral dependent. When the present value of expected future cash flows is used, the effective interest rate is the original contractual interest rate of the loan adjusted for any premium or discount. When the contractual interest rate is variable, the effective interest rate of the loan changes over time. A specific reserve is established as a component of the ALLL when a loan has been determined to be impaired. Subsequent to the initial measurement of impairment, if there is a significant change to the impaired loan's expected future cash flows, or if actual cash flows are significantly different from the cash flows previously estimated, Huntington recalculates the impairment and appropriately adjusts the specific reserve. Similarly, if Huntington measures impairment based on the observable market price of an impaired loan or the fair value of the collateral of an impaired collateral dependent loan, Huntington will adjust the specific reserve. | |
When a loan within any class is impaired, the accrual of interest income is discontinued unless the receipt of principal and interest is no longer in doubt. Interest income on TDRs is accrued when all principal and interest is expected to be collected under the post-modification terms. Cash receipts received on nonaccruing impaired loans within any class are generally applied entirely against principal until the loan has been collected in full, after which time any additional cash receipts are recognized as interest income. Cash receipts received on accruing impaired loans within any class are applied in the same manner as accruing loans that are not considered impaired. | |
Troubled Debt Restructuring, Policy [Policy Text Block] | TDRs are modified loans where a concession was provided to a borrower experiencing financial difficulties. Loan modifications are considered TDRs when the concessions provided are not available to the borrower through either normal channels or other sources. However, not all loan modifications are TDRs. |
The amount of interest that would have been recorded under the original terms for total accruing TDR loans was $45.0 million, $43.9 million, and $41.2 million for 2014, 2013, and 2012, respectively. The total amount of interest recorded to interest income for these loans was $38.6 million, $35.7 million, and $32.2 million for 2014, 2013, and 2012, respectively. | |
TDR Concession Types | |
The Company’s standards relating to loan modifications consider, among other factors, minimum verified income requirements, cash flow analysis, and collateral valuations. Each potential loan modification is reviewed individually and the terms of the loan are modified to meet a borrower’s specific circumstances at a point in time. All commercial TDRs are reviewed and approved by our SAD. The types of concessions provided to borrowers include: | |
Interest rate reduction: A reduction of the stated interest rate to a nonmarket rate for the remaining original life of the debt. | |
Amortization or maturity date change beyond what the collateral supports, including any of the following: | |
Lengthens the amortization period of the amortized principal beyond market terms. This concession reduces the minimum monthly payment and increases the amount of the balloon payment at the end of the term of the loan. Principal is generally not forgiven. | |
Reduces the amount of loan principal to be amortized and increases the amount of the balloon payment at the end of the term of the loan. This concession also reduces the minimum monthly payment. Principal is generally not forgiven. | |
Extends the maturity date or dates of the debt beyond what the collateral supports. This concession generally applies to loans without a balloon payment at the end of the term of the loan. | |
Chapter 7 bankruptcy: A bankruptcy court’s discharge of a borrower’s debt is considered a concession when the borrower does not reaffirm the discharged debt. | |
Other: A concession that is not categorized as one of the concessions described above. These concessions include, but are not limited to: principal forgiveness, collateral concessions, covenant concessions, and reduction of accrued interest. Principal forgiveness may result from any TDR modification of any concession type. However, the aggregate amount of principal forgiven as a result of loans modified as TDRs during the years ended December 31, 2014 and 2013, was not significant. | |
Security Impairment, Policy [Policy Text Block] | Security Impairment |
Huntington evaluated OTTI on the debt security types listed below. | |
Alt-A mortgage-backed and private-label CMO securities are collateralized by first-lien residential mortgage loans. The securities valuation methodology incorporates values obtained from a third party pricing specialist using a discounted cash flow approach and a proprietary pricing model and includes assumptions management believes market participants would use to value the securities under current market conditions. The model uses inputs such as estimated prepayment speeds, losses, recoveries, default rates that are implied by the underlying performance of collateral in the structure or similar structures, house price depreciation / appreciation rates that are based upon macroeconomic forecasts and discount rates that are implied by market prices for similar securities with similar collateral structures. The remaining Alt-A mortgage backed securities were sold during the third quarter 2014. | |
Collateralized Debt Obligations are CDOs backed by a pool of debt securities issued by financial institutions. The collateral generally consists of trust-preferred securities and subordinated debt securities issued by banks, bank holding companies, and insurance companies. A full cash flow analysis is used to estimate fair values and assess impairment for each security within this portfolio. A third-party pricing specialist with direct industry experience in pooled-trust-preferred security evaluations is engaged to provide assistance estimating the fair value and expected cash flows on this portfolio. The full cash flow analysis is completed by evaluating the relevant credit and structural aspects of each pooled-trust-preferred security in the portfolio, including collateral performance projections for each piece of collateral in the security and terms of the security’s structure. The credit review includes an analysis of profitability, credit quality, operating efficiency, leverage, and liquidity using available financial and regulatory information for each underlying collateral issuer. The analysis also includes a review of historical industry default data, current/near term operating conditions, and the impact of macroeconomic and regulatory changes. Using the results of our analysis, we estimate appropriate default and recovery probabilities for each piece of collateral then estimate the expected cash flows for each security. The cumulative probability of default ranges from a low of 2% to 100%. | |
Many collateral issuers have the option of deferring interest payments on their debt for up to five years. For issuers who are deferring interest, assumptions are made regarding the issuers ability to resume interest payments and make the required principal payment at maturity; the cumulative probability of default for these issuers currently ranges from 30% to 100%, and a 10% recovery assumption. The fair value of each security is obtained by discounting the expected cash flows at a market discount rate, ranging from LIBOR plus 4.3% to LIBOR plus 13.3% as of December 31, 2014. The market discount rate is determined by reference to yields observed in the market for similarly rated collateralized debt obligations, specifically high-yield collateralized loan obligations. The relatively high market discount rate is reflective of the uncertainty of the cash flows and illiquid nature of these securities. The large differential between the fair value and amortized cost of some of the securities reflects the high market discount rate and the expectation that the majority of the cash flows will not be received until near the final maturity of the security (the final maturities range from 2032 to 2035). | |
Goodwill, Policy [Policy Text Block] | In 2014, Huntington completed an acquisition of 24 Bank of America branches in Michigan and recorded $17.1 million of goodwill. The remaining $64.2 million of goodwill acquired during 2014 was the result of the Camco Financial acquisition, which was also completed in 2014. For additional information on the acquisitions, see Business Combinations footnote. |
Goodwill is not amortized but is evaluated for impairment on an annual basis as of October 1st each year or whenever events or changes in circumstances indicate that the carrying value may not be recoverable. | |
Share-based Compensation, Policy [Policy Text Block] | Huntington sponsors nonqualified and incentive share based compensation plans. These plans provide for the granting of stock options and other awards to officers, directors, and other employees. Compensation costs are included in personnel costs on the Consolidated Statements of Income. Stock options are granted at the closing market price on the date of the grant. Options granted typically vest ratably over four years or when other conditions are met. Stock options, which represented a portion of our grant values, have no intrinsic value until the stock price increases. Options granted prior to May 2004 have a term of ten years. All options granted after May 2004 have a term of seven years. |
In 2012, shareholders approved the Huntington Bancshares Incorporated 2012 Long-Term Incentive Plan (the Plan) which authorized 51.0 million shares for future grants. The Plan is the only active plan under which Huntington is currently granting share based options and awards. At December 31, 2014, 15.3 million shares from the Plan were available for future grants. Huntington issues shares to fulfill stock option exercises and restricted stock unit and award vesting from available authorized common shares. At December 31, 2014, the Company believes there are adequate authorized common shares to satisfy anticipated stock option exercises and restricted stock unit and award vesting in 2015. | |
Huntington uses the Black-Scholes option pricing model to value options in determining our share-based compensation expense. Forfeitures are estimated at the date of grant based on historical rates, and updated as necessary, and reduce the compensation expense recognized. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the date of grant. The expected dividend yield is based on the dividend rate and stock price at the date of the grant. Expected volatility is based on the estimated volatility of Huntington’s stock over the expected term of the option. | |
Fair Values of Financial Instruments, Policy [Policy Text Block] | Following is a description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy. |
Mortgage loans held for sale | |
Huntington elected to apply the fair value option for mortgage loans originated with the intent to sell which are included in loans held for sale. Mortgage loans held for sale are classified as Level 2 and are estimated using security prices for similar product types. | |
Available-for-sale securities and trading account securities | |
Securities accounted for at fair value include both the available-for-sale and trading portfolios. Huntington uses prices obtained from third party pricing services and recent trades to determine the fair value of securities. AFS and trading securities are classified as Level 1 using quoted market prices (unadjusted) in active markets for identical securities that Huntington has the ability to access at the measurement date. Less than 1% of the positions in these portfolios are Level 1, and consist of U.S. Treasury securities and money market mutual funds. When quoted market prices are not available, fair values are classified as Level 2 using quoted prices for similar assets in active markets, quoted prices of identical or similar assets in markets that are not active, and inputs that are observable for the asset, either directly or indirectly, for substantially the full term of the financial instrument. 83% of the positions in these portfolios are Level 2, and consist of U.S. Government and agency debt securities, agency mortgage backed securities, asset-backed securities, municipal securities and other securities. For both Level 1 and Level 2 securities, management uses various methods and techniques to corroborate prices obtained from the pricing service, including reference to dealer or other market quotes, and by reviewing valuations of comparable instruments. If relevant market prices are limited or unavailable, valuations may require significant management judgment or estimation to determine fair value, in which case the fair values are classified as Level 3. 17% of our positions are Level 3, and consist of non-agency Alt-A asset-backed securities, private-label CMO securities, CDO-preferred securities and municipal securities. A significant change in the unobservable inputs for these securities may result in a significant change in the ending fair value measurement of these securities. | |
The Alt-A, private label CMO and CDO-preferred securities portfolios are classified as Level 3 and as such use significant estimates to determine the fair value of these securities which results in greater subjectivity. The Alt-A and private label CMO securities portfolios are subjected to a monthly review of the projected cash flows, while the cash flows of the CDO-preferred securities portfolio are reviewed quarterly. These reviews are supported with analysis from independent third parties, and are used as a basis for impairment analysis. | |
Alt-A mortgage-backed and private-label CMO securities are collateralized by first-lien residential mortgage loans. The securities valuation methodology incorporates values obtained from a third-party pricing specialist using a discounted cash flow approach and a proprietary pricing model and includes assumptions management believes market participants would use to value the securities under current market conditions. The model uses inputs such as estimated prepayment speeds, losses, recoveries, default rates that are implied by the underlying performance of collateral in the structure or similar structures, house price depreciation / appreciation rates that are based upon macroeconomic forecasts and discount rates that are implied by market prices for similar securities with similar collateral structures. The remaining Alt-A mortgage-backed securities were sold during the third quarter of 2014. | |
CDO-preferred securities are CDOs backed by a pool of debt securities issued by financial institutions. The collateral generally consists of trust-preferred securities and subordinated debt securities issued by banks, bank holding companies, and insurance companies. A full cash flow analysis is used to estimate fair values and assess impairment for each security within this portfolio. We engage a third-party pricing specialist with direct industry experience in CDO-preferred securities valuations to provide assistance in estimating the fair value and expected cash flows for each security in this portfolio. The PD of each issuer and the market discount rate are the most significant inputs in determining fair value. Management evaluates the PD assumptions provided by the third-party pricing specialist by comparing the current PD to the assumptions used the previous quarter, actual defaults and deferrals in the current period, and trend data on certain financial ratios of the issuers. Huntington also evaluates the assumptions related to discount rates. Relying on cash flows is necessary because there was a lack of observable transactions in the market and many of the original sponsors or dealers for these securities are no longer able to provide a fair value. | |
Huntington utilizes the same processes to determine the fair value of investment securities classified as held-to-maturity for impairment evaluation purposes. | |
Automobile loans | |
Effective January 1, 2010, Huntington consolidated an automobile loan securitization that previously had been accounted for as an off-balance sheet transaction. As a result, Huntington elected to account for these automobile loan receivables at fair value per guidance supplied in ASC 825. The automobile loan receivables are classified as Level 3. The key assumptions used to determine the fair value of the automobile loan receivables included projections of expected losses and prepayment of the underlying loans in the portfolio and a market assumption of interest rate spreads. Certain interest rates are available from similarly traded securities while other interest rates are developed internally based on similar asset-backed security transactions in the market. During the first quarter of 2014 Huntington cancelled the 2009 and 2006 Automobile Trust. Huntington continues to report the associated automobile loan receivables at fair value due to its 2010 election. | |
MSRs | |
MSRs do not trade in an active market with readily observable prices. Accordingly, the fair value of these assets is classified as Level 3. Huntington determines the fair value of MSRs using an income approach model based upon our month-end interest rate curve and prepayment assumptions. The model utilizes assumptions to estimate future net servicing income cash flows, including estimates of time decay, payoffs, and changes in valuation inputs and assumptions. Servicing brokers and other sources of information (e.g. discussion with other mortgage servicers and industry surveys) are used to obtain information on market practice and assumptions. On at least a quarterly basis, third party marks are obtained from at least one service broker. Huntington reviews the valuation assumptions against this market data for reasonableness and adjusts the assumptions if deemed appropriate. Any recommended change in assumptions and / or inputs are presented for review to the Mortgage Price Risk Subcommittee for final approval. | |
Derivatives | |
Derivatives classified as Level 2 consist of foreign exchange and commodity contracts, which are valued using exchange traded swaps and futures market data. In addition, Level 2 includes interest rate contracts, which are valued using a discounted cash flow method that incorporates current market interest rates. Level 2 also includes exchange traded options and forward commitments to deliver mortgage-backed securities, which are valued using quoted prices. | |
Derivatives classified as Level 3 consist primarily of interest rate lock agreements related to mortgage loan commitments. The determination of fair value includes assumptions related to the likelihood that a commitment will ultimately result in a closed loan, which is a significant unobservable assumption. A significant increase or decrease in the external market price would result in a significantly higher or lower fair value measurement. | |
The short-term nature of certain assets and liabilities result in their carrying value approximating fair value. These include trading account securities, customers’ acceptance liabilities, short-term borrowings, bank acceptances outstanding, FHLB advances, and cash and short-term assets, which include cash and due from banks, interest-bearing deposits in banks, and federal funds sold and securities purchased under resale agreements. Loan commitments and letters of credit generally have short-term, variable-rate features and contain clauses that limit Huntington’s exposure to changes in customer credit quality. Accordingly, their carrying values, which are immaterial at the respective balance sheet dates, are reasonable estimates of fair value. Not all the financial instruments listed in the table above are subject to the disclosure provisions of ASC Topic 820. | |
Certain assets, the most significant being operating lease assets, bank owned life insurance, and premises and equipment, do not meet the definition of a financial instrument and are excluded from this disclosure. Similarly, mortgage and nonmortgage servicing rights, deposit base, and other customer relationship intangibles are not considered financial instruments and are not included above. Accordingly, this fair value information is not intended to, and does not, represent Huntington’s underlying value. Many of the assets and liabilities subject to the disclosure requirements are not actively traded, requiring fair values to be estimated by Management. These estimations necessarily involve the use of judgment about a wide variety of factors, including but not limited to, relevancy of market prices of comparable instruments, expected future cash flows, and appropriate discount rates. | |
The following methods and assumptions were used by Huntington to estimate the fair value of the remaining classes of financial instruments: | |
Held-to-maturity securities | |
Fair values are determined by using models that are based on security-specific details, as well as relevant industry and economic factors. The most significant of these inputs are quoted market prices, and interest rate spreads on relevant benchmark securities. | |
Loans and Direct Financing Leases | |
Variable-rate loans that reprice frequently are based on carrying amounts, as adjusted for estimated credit losses. The fair values for other loans and leases are estimated using discounted cash flow analyses and employ interest rates currently being offered for loans and leases with similar terms. The rates take into account the position of the yield curve, as well as an adjustment for prepayment risk, operating costs, and profit. This value is also reduced by an estimate of expected losses and the credit risk associated in the loan and lease portfolio. The valuation of the loan portfolio reflected discounts that Huntington believed are consistent with transactions occurring in the market place. | |
Deposits | |
Demand deposits, savings accounts, and money market deposits are, by definition, equal to the amount payable on demand. The fair values of fixed-rate time deposits are estimated by discounting cash flows using interest rates currently being offered on certificates with similar maturities. | |
Debt | |
Fixed-rate, long-term debt is based upon quoted market prices, which are inclusive of Huntington’s credit risk. In the absence of quoted market prices, discounted cash flows using market rates for similar debt with the same maturities are used in the determination of fair value. | |
Commitments and Contingencies, Policy [Policy Text Block] | Through the Company’s credit process, Huntington monitors the credit risks of outstanding standby letters-of-credit. When it is probable that a standby letter-of-credit will be drawn and not repaid in full, losses are recognized in the provision for credit losses. |
On at least a quarterly basis, Huntington assesses its liabilities and contingencies in connection with threatened and outstanding regulatory legal, and administrative cases, matters and proceedings, utilizing the latest information available. For cases, matters and proceedings where it is both probable the Company will incur a loss and the amount can be reasonably estimated, Huntington establishes an accrual for the loss. Once established, the accrual is adjusted as appropriate to reflect any relevant developments. For cases, matters or proceedings where a loss is not probable or the amount of the loss cannot be estimated, no accrual is established. | |
Segment Reporting, Policy [Policy Text Block] | 24. SEGMENT REPORTING |
Our business segments are based on our internally-aligned segment leadership structure, which is how we monitor results and assess performance. During the 2014 first quarter, we reorganized our business segments to drive our ongoing growth and leverage the knowledge of our highly experienced team. We now have five major business segments: Retail and Business Banking, Commercial Banking, Automobile Finance and Commercial Real Estate (AFCRE), Regional Banking and The Huntington Private Client Group (RBHPCG), and Home Lending. The Treasury / Other function includes our technology and operations, other unallocated assets, liabilities, revenue, and expense. All periods presented have been reclassified to conform to the current period classification. | |
Variable Interest Entity, Policy [Policy Text Block] | Consolidated VIEs |
Consolidated VIEs at December 31, 2014 consisted of automobile loan and lease securitization trusts formed in 2009 and 2006. Huntington has determined the trusts are VIEs. Huntington has concluded that it is the primary beneficiary of these trusts because it has the power to direct the activities of the entity that most significantly affect the entity’s economic performance and it has either the obligation to absorb losses of the entity that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE. During the 2014 first quarter, Huntington cancelled the 2009 and 2006 Automobile Trusts. As a result, any remaining assets at the time of the cancellation are no longer part of the trusts. | |
Loans_and_Leases_and_Allowance1
Loans and Leases and Allowance for Credit Losses (Tables) | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||
Loans / Leases and Allowance for Credit Losses [Abstract] | ||||||||||||||||||||||
Lease financing receivables | Net investments in lease financing receivables by category at December 31, 2014 and 2013 were as follows: | |||||||||||||||||||||
At December 31, | ||||||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||||||||||||||||
Commercial and industrial: | ||||||||||||||||||||||
Lease payments receivable | $ | 1,051,744 | $ | 1,426,928 | ||||||||||||||||||
Estimated residual value of leased assets | 483,407 | 409,184 | ||||||||||||||||||||
Gross investment in commercial lease financing receivables | 1,535,151 | 1,836,112 | ||||||||||||||||||||
Net deferred origination costs | 2,557 | 3,105 | ||||||||||||||||||||
Unearned income | -131,027 | -165,052 | ||||||||||||||||||||
Total net investment in commercial lease financing receivables | $ | 1,406,681 | $ | 1,674,165 | ||||||||||||||||||
Loans acquired with deteriorated credit quality | March 1, | |||||||||||||||||||||
(dollar amounts in thousands) | 2014 | |||||||||||||||||||||
Contractually required payments including interest | $ | 14,363 | ||||||||||||||||||||
Less: nonaccretable difference | -11,234 | |||||||||||||||||||||
Cash flows expected to be collected | 3,129 | |||||||||||||||||||||
Less: accretable yield | -143 | |||||||||||||||||||||
Fair value of credit impaired loans acquired | $ | 2,986 | ||||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||||||||||||||||
Fidelity Bank | ||||||||||||||||||||||
Balance at January 1, | $ | 27,995 | $ | 23,251 | ||||||||||||||||||
Accretion | -13,485 | -15,931 | ||||||||||||||||||||
Reclassification from nonaccretable difference | 4,878 | 20,675 | ||||||||||||||||||||
Balance at December 31, | $ | 19,388 | $ | 27,995 | ||||||||||||||||||
Camco Financial | ||||||||||||||||||||||
Impact of acquisition on March 1, 2014 | 143 | --- | ||||||||||||||||||||
Accretion | -5,597 | --- | ||||||||||||||||||||
Reclassification from nonaccretable difference | 6,278 | --- | ||||||||||||||||||||
Balance at December 31, | $ | 824 | $ | --- | ||||||||||||||||||
The following table reflects the ending and unpaid balances of all contractually required payments and carrying amounts of the acquired loans by acquisition at December 31, 2014 and December 31, 2013: | ||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||
(in thousands) | Ending Balance | Unpaid Balance | Ending Balance | Unpaid Balance | ||||||||||||||||||
Fidelity Bank | ||||||||||||||||||||||
Commercial and industrial | $ | 22,405 | $ | 33,622 | $ | 35,526 | $ | 50,798 | ||||||||||||||
Commercial real estate | 36,663 | 87,250 | 82,073 | 154,869 | ||||||||||||||||||
Residential mortgage | 1,912 | 3,096 | 2,498 | 3,681 | ||||||||||||||||||
Other consumer | 51 | 123 | 129 | 219 | ||||||||||||||||||
Total | $ | 61,031 | $ | 124,091 | $ | 120,226 | $ | 209,567 | ||||||||||||||
Camco Financial | ||||||||||||||||||||||
Commercial and industrial | $ | 823 | $ | 1,685 | $ | --- | $ | --- | ||||||||||||||
Commercial real estate | 1,708 | 3,826 | --- | --- | ||||||||||||||||||
Total | $ | 2,531 | $ | 5,511 | $ | --- | $ | --- | ||||||||||||||
Loan Purchases and Sales | The following table summarizes significant portfolio loan purchase and sale activity for the years ended December 31, 2014, and 2013. | |||||||||||||||||||||
Commercial | Commercial | Home | Residential | Other | ||||||||||||||||||
and Industrial | Real Estate | Automobile | Equity | Mortgage | Consumer | Total | ||||||||||||||||
(dollar amounts in thousands) | ||||||||||||||||||||||
Portfolio loans purchased during the: | ||||||||||||||||||||||
Year ended December 31, 2014 | $ | 326,557 | $ | --- | $ | --- | $ | --- | $ | 18,482 | $ | --- | $ | 345,039 | ||||||||
Year ended December 31, 2013 | 109,723 | --- | --- | --- | --- | --- | 109,723 | |||||||||||||||
Portfolio loans sold or transferred to loans held for sale during the: | ||||||||||||||||||||||
Year ended December 31, 2014 | 352,062 | 8,447 | --- | --- | --- | 7,592 | 368,101 | |||||||||||||||
Year ended December 31, 2013 | 225,930 | 4,767 | --- | --- | 205,334 | --- | 436,031 | |||||||||||||||
NALs and Past Due Loans | The following table presents NALs by loan class for the years ended December 31, 2014 and 2013: | |||||||||||||||||||||
December 31, | ||||||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||||||||||||||||
Commercial and industrial: | ||||||||||||||||||||||
Owner occupied | $ | 41,285 | $ | 38,321 | ||||||||||||||||||
Other commercial and industrial | 30,689 | 18,294 | ||||||||||||||||||||
Total commercial and industrial | $ | 71,974 | $ | 56,615 | ||||||||||||||||||
Commercial real estate: | ||||||||||||||||||||||
Retail properties | $ | 21,385 | $ | 27,328 | ||||||||||||||||||
Multi family | 9,743 | 9,289 | ||||||||||||||||||||
Office | 7,707 | 18,995 | ||||||||||||||||||||
Industrial and warehouse | 3,928 | 6,310 | ||||||||||||||||||||
Other commercial real estate | 5,760 | 11,495 | ||||||||||||||||||||
Total commercial real estate | $ | 48,523 | $ | 73,417 | ||||||||||||||||||
Automobile | $ | 4,623 | $ | 6,303 | ||||||||||||||||||
Home equity: | ||||||||||||||||||||||
Secured by first-lien | $ | 46,938 | $ | 36,288 | ||||||||||||||||||
Secured by junior-lien | 31,622 | 29,901 | ||||||||||||||||||||
Total home equity | $ | 78,560 | $ | 66,189 | ||||||||||||||||||
Residential mortgage | $ | 96,564 | $ | 119,532 | ||||||||||||||||||
Other consumer | $ | --- | $ | --- | ||||||||||||||||||
Total nonaccrual loans | $ | 300,244 | $ | 322,056 | ||||||||||||||||||
Aging analysis of loans and leases | The following table presents an aging analysis of loans and leases, including past due loans and leases, by loan class for the years ended December 31, 2014 and 2013 (1): | |||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||
90 or more | ||||||||||||||||||||||
(dollar amounts in thousands) | Past Due | Total Loans | days past due | |||||||||||||||||||
30-59 days | 60-89 days | 90 or more days | Total | Current | and Leases | and accruing | ||||||||||||||||
Commercial and industrial: | ||||||||||||||||||||||
Owner occupied | $ | 5,232 | $ | 2,981 | $ | 18,222 | $ | 26,435 | $ | 4,228,440 | $ | 4,254,875 | $ | --- | ||||||||
Purchased credit-impaired | 846 | --- | 4,937 | 5,783 | 17,445 | 23,228 | 4,937 | -2 | ||||||||||||||
Other commercial and industrial | 15,330 | 1,536 | 9,101 | 25,967 | 14,729,076 | 14,755,043 | --- | |||||||||||||||
Total commercial and industrial | $ | 21,408 | $ | 4,517 | $ | 32,260 | $ | 58,185 | $ | 18,974,961 | $ | 19,033,146 | $ | 4,937 | ||||||||
Commercial real estate: | ||||||||||||||||||||||
Retail properties | $ | 7,866 | $ | --- | $ | 4,021 | $ | 11,887 | $ | 1,345,859 | $ | 1,357,746 | $ | --- | ||||||||
Multi family | 1,517 | 312 | 3,337 | 5,166 | 1,085,250 | 1,090,416 | --- | |||||||||||||||
Office | 464 | 1,167 | 4,415 | 6,046 | 974,257 | 980,303 | --- | |||||||||||||||
Industrial and warehouse | 688 | --- | 2,649 | 3,337 | 510,064 | 513,401 | --- | |||||||||||||||
Purchased credit-impaired | 89 | 289 | 18,793 | 19,171 | 19,200 | 38,371 | 18,793 | -2 | ||||||||||||||
Other commercial real estate | 847 | 1,281 | 3,966 | 6,094 | 1,211,072 | 1,217,166 | --- | |||||||||||||||
Total commercial real estate | $ | 11,471 | $ | 3,049 | $ | 37,181 | $ | 51,701 | $ | 5,145,702 | $ | 5,197,403 | $ | 18,793 | ||||||||
Automobile | $ | 56,272 | $ | 10,427 | $ | 5,963 | $ | 72,662 | $ | 8,617,240 | $ | 8,689,902 | $ | 5,703 | ||||||||
Home equity: | ||||||||||||||||||||||
Secured by first-lien | $ | 15,036 | $ | 8,085 | $ | 33,014 | $ | 56,135 | $ | 5,072,669 | $ | 5,128,804 | $ | 4,471 | ||||||||
Secured by junior-lien | 22,473 | 12,297 | 33,406 | 68,176 | 3,293,935 | 3,362,111 | 7,688 | |||||||||||||||
Total home equity | $ | 37,509 | $ | 20,382 | $ | 66,420 | $ | 124,311 | $ | 8,366,604 | $ | 8,490,915 | $ | 12,159 | ||||||||
Residential mortgage: | ||||||||||||||||||||||
Residential mortgage | $ | 102,702 | $ | 42,009 | $ | 139,379 | $ | 284,090 | $ | 5,544,607 | $ | 5,828,697 | $ | 88,052 | -3 | |||||||
Purchased credit-impaired | --- | --- | --- | --- | 1,912 | 1,912 | --- | -2 | ||||||||||||||
Total residential mortgage | $ | 102,702 | $ | 42,009 | $ | 139,379 | $ | 284,090 | $ | 5,546,519 | $ | 5,830,609 | $ | 88,052 | ||||||||
Other consumer: | ||||||||||||||||||||||
Other consumer | $ | 5,491 | $ | 1,086 | $ | 837 | $ | 7,414 | $ | 406,286 | $ | 413,700 | $ | 837 | ||||||||
Purchased credit-impaired | --- | --- | --- | --- | 51 | 51 | --- | -2 | ||||||||||||||
Total other consumer | $ | 5,491 | $ | 1,086 | $ | 837 | $ | 7,414 | $ | 406,337 | $ | 413,751 | $ | 837 | ||||||||
Total loans and leases | $ | 234,853 | $ | 81,470 | $ | 282,040 | $ | 598,363 | $ | 47,057,363 | $ | 47,655,726 | $ | 130,481 | ||||||||
31-Dec-13 | ||||||||||||||||||||||
90 or more | ||||||||||||||||||||||
(dollar amounts in thousands) | Past Due | Total Loans | days past due | |||||||||||||||||||
30-59 days | 60-89 days | 90 or more days | Total | Current | and Leases | and accruing | ||||||||||||||||
Commercial and industrial: | ||||||||||||||||||||||
Owner occupied | $ | 5,935 | $ | 1,879 | $ | 25,658 | $ | 33,472 | $ | 4,314,400 | $ | 4,347,872 | $ | --- | ||||||||
Purchased credit-impaired | 241 | 433 | 14,562 | 15,236 | 20,290 | 35,526 | 14,562 | -2 | ||||||||||||||
Other commercial and industrial | 10,342 | 3,075 | 11,210 | 24,627 | 13,186,251 | 13,210,878 | --- | |||||||||||||||
Total commercial and industrial | $ | 16,518 | $ | 5,387 | $ | 51,430 | $ | 73,335 | $ | 17,520,941 | $ | 17,594,276 | $ | 14,562 | ||||||||
Commercial real estate: | ||||||||||||||||||||||
Retail properties | $ | 19,372 | $ | 1,228 | $ | 5,252 | $ | 25,852 | $ | 1,237,717 | $ | 1,263,569 | $ | --- | ||||||||
Multi family | 2,425 | 943 | 6,726 | 10,094 | 1,015,497 | 1,025,591 | --- | |||||||||||||||
Office | 1,635 | 545 | 12,700 | 14,880 | 927,413 | 942,293 | --- | |||||||||||||||
Industrial and warehouse | 465 | 3,714 | 4,395 | 8,574 | 464,319 | 472,893 | --- | |||||||||||||||
Purchased credit-impaired | 1,311 | --- | 39,142 | 40,453 | 41,620 | 82,073 | 39,142 | -2 | ||||||||||||||
Other commercial real estate | 5,922 | 1,134 | 7,192 | 14,248 | 1,049,427 | 1,063,675 | --- | |||||||||||||||
Total commercial real estate | $ | 31,130 | $ | 7,564 | $ | 75,407 | $ | 114,101 | $ | 4,735,993 | $ | 4,850,094 | $ | 39,142 | ||||||||
Automobile | $ | 45,174 | $ | 8,863 | $ | 5,140 | $ | 59,177 | $ | 6,579,536 | $ | 6,638,713 | $ | 5,055 | ||||||||
Home equity: | ||||||||||||||||||||||
Secured by first-lien | $ | 20,551 | $ | 8,746 | $ | 28,472 | $ | 57,769 | $ | 4,784,375 | $ | 4,842,144 | $ | 6,338 | ||||||||
Secured by junior-lien | 28,965 | 13,071 | 31,392 | 73,428 | 3,420,746 | 3,494,174 | 7,645 | |||||||||||||||
Total home equity | 49,516 | $ | 21,817 | $ | 59,864 | $ | 131,197 | $ | 8,205,121 | $ | 8,336,318 | $ | 13,983 | |||||||||
Residential mortgage: | ||||||||||||||||||||||
Residential mortgage | 101,584 | $ | 41,784 | $ | 158,956 | $ | 302,324 | $ | 5,016,266 | $ | 5,318,590 | $ | 90,115 | -4 | ||||||||
Purchased credit-impaired | 194 | --- | 339 | 533 | 1,965 | 2,498 | 339 | -2 | ||||||||||||||
Total residential mortgage | $ | 101,778 | $ | 41,784 | $ | 159,295 | $ | 302,857 | $ | 5,018,231 | $ | 5,321,088 | $ | 90,454 | ||||||||
Other consumer: | ||||||||||||||||||||||
Other consumer | 6,465 | $ | 1,276 | $ | 998 | $ | 8,739 | $ | 371,143 | $ | 379,882 | $ | 998 | |||||||||
Purchased credit-impaired | 69 | --- | --- | 69 | 60 | 129 | --- | -2 | ||||||||||||||
Total other consumer | $ | 6,534 | $ | 1,276 | $ | 998 | $ | 8,808 | $ | 371,203 | $ | 380,011 | $ | 998 | ||||||||
Total loans and leases | $ | 250,650 | $ | 86,691 | $ | 352,134 | $ | 689,475 | $ | 42,431,025 | $ | 43,120,500 | $ | 164,194 | ||||||||
-1 | NALs are included in this aging analysis based on the loan's past due status. | |||||||||||||||||||||
-2 | All amounts represent accruing purchased credit-impaired loans related to the Camco Financial and FDIC-assisted Fidelity Bank acquisition. Under the applicable accounting guidance (ASC-310-30), the loans were recorded at fair value upon acquisition and remain in accruing status. | |||||||||||||||||||||
-3 | Includes $55,012 thousand guaranteed by the U.S. government. | |||||||||||||||||||||
-4 | Includes $87,985 thousand guaranteed by the U.S. government. | |||||||||||||||||||||
ALLL and AULC activity by portfolio segment | The following table presents ALLL and AULC activity by portfolio segment for the years ended December 31, 2014, 2013, and 2012: | |||||||||||||||||||||
Commercial | Commercial | Home | Residential | Other | ||||||||||||||||||
and Industrial | Real Estate | Automobile | Equity | Mortgage | Consumer | Total | ||||||||||||||||
(dollar amounts in thousands) | ||||||||||||||||||||||
Year ended December 31, 2014: | ||||||||||||||||||||||
ALLL balance, beginning of period | $ | 265,801 | $ | 162,557 | $ | 31,053 | $ | 111,131 | $ | 39,577 | $ | 37,751 | $ | 647,870 | ||||||||
Loan charge-offs | -76,654 | -24,704 | -31,330 | -54,473 | -25,946 | -33,494 | -246,601 | |||||||||||||||
Recoveries of loans previously charged-off | 44,531 | 34,071 | 13,762 | 17,526 | 6,194 | 5,890 | 121,974 | |||||||||||||||
Provision for loan and lease losses | 53,317 | -69,085 | 19,981 | 22,229 | 27,386 | 29,254 | 83,082 | |||||||||||||||
Allowance for loans sold or transferred to loans held for sale | --- | --- | --- | --- | --- | -1,129 | -1,129 | |||||||||||||||
ALLL balance, end of period | $ | 286,995 | $ | 102,839 | $ | 33,466 | $ | 96,413 | $ | 47,211 | $ | 38,272 | $ | 605,196 | ||||||||
AULC balance, beginning of period | $ | 49,596 | $ | 9,891 | $ | --- | $ | 1,763 | $ | 9 | $ | 1,640 | $ | 62,899 | ||||||||
Provision for unfunded loan commitments and letters of credit | -608 | -3,850 | --- | 161 | -1 | 2,205 | -2,093 | |||||||||||||||
AULC balance, end of period | $ | 48,988 | $ | 6,041 | $ | --- | $ | 1,924 | $ | 8 | $ | 3,845 | $ | 60,806 | ||||||||
ACL balance, end of period | $ | 335,983 | $ | 108,880 | $ | 33,466 | $ | 98,337 | $ | 47,219 | $ | 42,117 | $ | 666,002 | ||||||||
(dollar amounts in thousands) | ||||||||||||||||||||||
Year ended December 31, 2013: | ||||||||||||||||||||||
ALLL balance, beginning of period | $ | 241,051 | $ | 285,369 | $ | 34,979 | $ | 118,764 | $ | 61,658 | $ | 27,254 | $ | 769,075 | ||||||||
Loan charge-offs | -45,904 | -69,512 | -23,912 | -98,184 | -34,236 | -34,568 | -306,316 | |||||||||||||||
Recoveries of loans previously charged-off | 29,514 | 44,658 | 13,375 | 15,921 | 7,074 | 7,108 | 117,650 | |||||||||||||||
Provision for loan and lease losses | 41,140 | -97,958 | 6,611 | 74,630 | 5,417 | 37,957 | 67,797 | |||||||||||||||
Allowance for loans sold or transferred to loans held for sale | --- | --- | --- | --- | -336 | --- | -336 | |||||||||||||||
ALLL balance, end of period | $ | 265,801 | $ | 162,557 | $ | 31,053 | $ | 111,131 | $ | 39,577 | $ | 37,751 | $ | 647,870 | ||||||||
AULC balance, beginning of period | $ | 33,868 | $ | 4,740 | $ | --- | $ | 1,356 | $ | 3 | $ | 684 | $ | 40,651 | ||||||||
Provision for unfunded loan commitments and letters of credit | 15,728 | 5,151 | --- | 407 | 6 | 956 | 22,248 | |||||||||||||||
AULC balance, end of period | $ | 49,596 | $ | 9,891 | $ | --- | $ | 1,763 | $ | 9 | $ | 1,640 | $ | 62,899 | ||||||||
ACL balance, end of period | $ | 315,397 | $ | 172,448 | $ | 31,053 | $ | 112,894 | $ | 39,586 | $ | 39,391 | $ | 710,769 | ||||||||
(dollar amounts in thousands) | ||||||||||||||||||||||
Year Ended December 31, 2012: | ||||||||||||||||||||||
ALLL balance, beginning of period | $ | 275,367 | $ | 388,706 | $ | 38,282 | $ | 143,873 | $ | 87,194 | $ | 31,406 | $ | 964,828 | ||||||||
Loan charge-offs | -101,475 | -118,051 | -26,070 | -124,286 | -52,228 | -33,090 | -455,200 | |||||||||||||||
Recoveries of loans previously charged-off | 37,227 | 39,622 | 16,628 | 7,907 | 4,305 | 7,049 | 112,738 | |||||||||||||||
Provision for loan and lease losses | 29,932 | -24,908 | 12,964 | 91,270 | 24,046 | 21,889 | 155,193 | |||||||||||||||
Allowance for loans sold or transferred to loans held for sale | --- | --- | -6,825 | --- | -1,659 | --- | -8,484 | |||||||||||||||
ALLL balance, end of period | $ | 241,051 | $ | 285,369 | $ | 34,979 | $ | 118,764 | $ | 61,658 | $ | 27,254 | $ | 769,075 | ||||||||
AULC balance, beginning of period | $ | 39,658 | $ | 5,852 | $ | --- | $ | 2,134 | $ | 1 | $ | 811 | $ | 48,456 | ||||||||
Provision for unfunded loan commitments and letters-of-credit | -5,790 | -1,112 | --- | -778 | 2 | -127 | -7,805 | |||||||||||||||
AULC balance, end of period | 33,868 | 4,740 | --- | 1,356 | 3 | 684 | 40,651 | |||||||||||||||
ACL balance, end of period | $ | 274,919 | $ | 290,109 | $ | 34,979 | $ | 120,120 | $ | 61,661 | $ | 27,938 | $ | 809,726 | ||||||||
Loan and lease balances by credit quality indicator | 31-Dec-14 | |||||||||||||||||||||
Credit Risk Profile by UCS classification | ||||||||||||||||||||||
(dollar amounts in thousands) | Pass | OLEM | Substandard | Doubtful | Total | |||||||||||||||||
Commercial and industrial: | ||||||||||||||||||||||
Owner occupied | $ | 3,959,046 | $ | 117,637 | $ | 175,767 | $ | 2,425 | $ | 4,254,875 | ||||||||||||
Purchased impaired | 3,915 | 741 | 14,901 | 3,671 | 23,228 | |||||||||||||||||
Other commercial and industrial | 13,925,334 | 386,666 | 440,036 | 3,007 | 14,755,043 | |||||||||||||||||
Total commercial and industrial | $ | 17,888,295 | $ | 505,044 | $ | 630,704 | $ | 9,103 | $ | 19,033,146 | ||||||||||||
Commercial real estate: | ||||||||||||||||||||||
Retail properties | $ | 1,279,064 | $ | 10,204 | $ | 67,911 | $ | 567 | $ | 1,357,746 | ||||||||||||
Multi family | 1,044,521 | 12,608 | 32,322 | 965 | 1,090,416 | |||||||||||||||||
Office | 902,474 | 33,107 | 42,578 | 2,144 | 980,303 | |||||||||||||||||
Industrial and warehouse | 487,454 | 7,877 | 17,781 | 289 | 513,401 | |||||||||||||||||
Purchased impaired | 6,914 | 803 | 25,460 | 5,194 | 38,371 | |||||||||||||||||
Other commercial real estate | 1,166,293 | 9,635 | 40,019 | 1,219 | 1,217,166 | |||||||||||||||||
Total commercial real estate | $ | 4,886,720 | $ | 74,234 | $ | 226,071 | $ | 10,378 | $ | 5,197,403 | ||||||||||||
Credit Risk Profile by FICO score (1) | ||||||||||||||||||||||
750+ | 650-749 | <650 | Other (2) | Total | ||||||||||||||||||
Automobile | $ | 4,165,811 | $ | 3,249,141 | $ | 1,028,381 | $ | 246,569 | $ | 8,689,902 | ||||||||||||
Home equity: | ||||||||||||||||||||||
Secured by first-lien | $ | 3,255,088 | $ | 1,426,191 | $ | 283,152 | $ | 164,373 | $ | 5,128,804 | ||||||||||||
Secured by junior-lien | 1,832,663 | 1,095,332 | 348,825 | 85,291 | 3,362,111 | |||||||||||||||||
Total home equity | $ | 5,087,751 | $ | 2,521,523 | $ | 631,977 | $ | 249,664 | $ | 8,490,915 | ||||||||||||
Residential mortgage: | ||||||||||||||||||||||
Residential mortgage | $ | 3,285,310 | $ | 1,785,137 | $ | 666,562 | $ | 91,688 | $ | 5,828,697 | ||||||||||||
Purchased impaired | 594 | 1,135 | 183 | --- | 1,912 | |||||||||||||||||
Total residential mortgage | $ | 3,285,904 | $ | 1,786,272 | $ | 666,745 | $ | 91,688 | $ | 5,830,609 | ||||||||||||
Other consumer: | ||||||||||||||||||||||
Other consumer | $ | 195,128 | $ | 187,781 | $ | 30,582 | $ | 209 | $ | 413,700 | ||||||||||||
Purchased impaired | --- | 51 | --- | --- | 51 | |||||||||||||||||
Total other consumer loans | $ | 195,128 | $ | 187,832 | $ | 30,582 | $ | 209 | $ | 413,751 | ||||||||||||
31-Dec-13 | ||||||||||||||||||||||
Credit Risk Profile by UCS classification | ||||||||||||||||||||||
(dollar amounts in thousands) | Pass | OLEM | Substandard | Doubtful | Total | |||||||||||||||||
Commercial and industrial: | ||||||||||||||||||||||
Owner occupied | $ | 4,052,579 | $ | 130,645 | $ | 155,994 | $ | 8,654 | $ | 4,347,872 | ||||||||||||
Purchased impaired | 5,015 | 661 | 27,693 | 2,157 | 35,526 | |||||||||||||||||
Other commercial and industrial | 12,630,512 | 211,860 | 364,343 | 4,163 | 13,210,878 | |||||||||||||||||
Total commercial and industrial | $ | 16,688,106 | $ | 343,166 | $ | 548,030 | $ | 14,974 | $ | 17,594,276 | ||||||||||||
Commercial real estate: | ||||||||||||||||||||||
Retail properties | $ | 1,153,747 | $ | 16,003 | $ | 93,819 | $ | --- | $ | 1,263,569 | ||||||||||||
Multi family | 972,526 | 16,540 | 36,411 | 114 | 1,025,591 | |||||||||||||||||
Office | 847,411 | 4,866 | 87,722 | 2,294 | 942,293 | |||||||||||||||||
Industrial and warehouse | 431,057 | 14,138 | 27,698 | --- | 472,893 | |||||||||||||||||
Purchased impaired | 13,127 | 3,586 | 62,577 | 2,783 | 82,073 | |||||||||||||||||
Other commercial real estate | 977,987 | 16,270 | 68,653 | 765 | 1,063,675 | |||||||||||||||||
Total commercial real estate | $ | 4,395,855 | $ | 71,403 | $ | 376,880 | $ | 5,956 | $ | 4,850,094 | ||||||||||||
Credit Risk Profile by FICO score (1) | ||||||||||||||||||||||
750+ | 650-749 | <650 | Other (2) | Total | ||||||||||||||||||
Automobile | $ | 2,987,323 | $ | 2,517,756 | $ | 945,604 | $ | 188,030 | $ | 6,638,713 | ||||||||||||
Home equity: | ||||||||||||||||||||||
Secured by first-lien | 3,018,784 | 1,412,445 | 299,681 | 111,234 | 4,842,144 | |||||||||||||||||
Secured by junior-lien | 1,811,102 | 1,213,024 | 413,695 | 56,353 | 3,494,174 | |||||||||||||||||
Total home equity | $ | 4,829,886 | $ | 2,625,469 | $ | 713,376 | $ | 167,587 | $ | 8,336,318 | ||||||||||||
Residential mortgage: | ||||||||||||||||||||||
Residential mortgage | 2,837,590 | 1,710,183 | 699,541 | 71,276 | 5,318,590 | |||||||||||||||||
Purchased impaired | 588 | 989 | 921 | --- | 2,498 | |||||||||||||||||
Total residential mortgage | 2,838,178 | $ | 1,711,172 | $ | 700,462 | $ | 71,276 | $ | 5,321,088 | |||||||||||||
Other consumer: | ||||||||||||||||||||||
Other consumer | 161,858 | 157,675 | 45,370 | 14,979 | 379,882 | |||||||||||||||||
Purchased impaired | --- | 60 | 69 | --- | 129 | |||||||||||||||||
Total other consumer loans | 161,858 | $ | 157,735 | $ | 45,439 | $ | 14,979 | $ | 380,011 | |||||||||||||
-1 | Reflects currently updated customer credit scores. | |||||||||||||||||||||
-2 | Reflects deferred fees and costs, loans in process, loans to legal entities, etc. | |||||||||||||||||||||
Summarized data for impaired loans and the related ALLL by portfolio segment | For all classes within the C&I and CRE portfolios, all loans with an outstanding balance of $1.0 million or greater are considered for individual evaluation of impairment on a quarterly basis. Generally, consumer loans within any class are not individually evaluated on a regular basis for impairment. All TDRs, regardless of the outstanding balance amount, are also considered to be impaired. Loans acquired with evidence of deterioration of credit quality since origination for which it is probable at acquisition that all contractually required payments will not be collected are also considered to be impaired. | |||||||||||||||||||||
Once a loan has been identified for an assessment of impairment, the loan is considered impaired when, based on current information and events, it is probable that all amounts due according to the contractual terms of the loan agreement will not be collected. This determination requires significant judgment and use of estimates, and the eventual outcome may differ significantly from those estimates. | ||||||||||||||||||||||
The following tables present the balance of the ALLL attributable to loans by portfolio segment individually and collectively evaluated for impairment and the related loan and lease balance for the years ended December 31, 2014, and 2013 (1): | ||||||||||||||||||||||
Commercial | Commercial | Residential | Other | |||||||||||||||||||
(dollar amounts in thousands) | and Industrial | Real Estate | Automobile | Home Equity | Mortgage | Consumer | Total | |||||||||||||||
ALLL at December 31, 2014: | ||||||||||||||||||||||
Portion of ALLL balance: | ||||||||||||||||||||||
Attributable to purchased credit-impaired loans | $ | 3,846 | $ | --- | $ | --- | $ | --- | $ | 8 | $ | 245 | $ | 4,099 | ||||||||
Attributable to loans individually evaluated for impairment | 11,049 | 18,887 | 1,531 | 26,027 | 16,535 | 214 | 74,243 | |||||||||||||||
Attributable to loans collectively evaluated for impairment | 272,100 | 83,952 | 31,935 | 70,386 | 30,668 | 37,813 | 526,854 | |||||||||||||||
Total ALLL balance | $ | 286,995 | $ | 102,839 | $ | 33,466 | $ | 96,413 | $ | 47,211 | $ | 38,272 | $ | 605,196 | ||||||||
Loans and Leases at December 31, 2014: | ||||||||||||||||||||||
Portion of loan and lease ending balance: | ||||||||||||||||||||||
Attributable to purchased credit-impaired loans | $ | 23,228 | $ | 38,371 | $ | --- | $ | --- | $ | 1,912 | $ | 51 | $ | 63,562 | ||||||||
Individually evaluated for impairment | 216,993 | 217,262 | 30,612 | 310,446 | 369,577 | 4,088 | 1,148,978 | |||||||||||||||
Collectively evaluated for impairment | 18,792,925 | 4,941,770 | 8,659,290 | 8,180,469 | 5,459,120 | 409,612 | 46,443,186 | |||||||||||||||
Total loans evaluated for impairment | $ | 19,033,146 | $ | 5,197,403 | $ | 8,689,902 | $ | 8,490,915 | $ | 5,830,609 | $ | 413,751 | $ | 47,655,726 | ||||||||
Portion of ending balance of impaired loans: | ||||||||||||||||||||||
With allowance assigned to the loan and lease balances | $ | 202,376 | $ | 144,162 | $ | 30,612 | $ | 310,446 | $ | 371,489 | $ | 4,139 | $ | 1,063,224 | ||||||||
With no allowance assigned to the loan and lease balances | 37,845 | 111,471 | --- | --- | --- | --- | 149,316 | |||||||||||||||
Total | $ | 240,221 | $ | 255,633 | $ | 30,612 | $ | 310,446 | $ | 371,489 | $ | 4,139 | $ | 1,212,540 | ||||||||
Average balance of impaired loans | $ | 174,316 | $ | 511,590 | $ | 34,637 | $ | 258,881 | $ | 384,026 | $ | 2,879 | $ | 1,366,329 | ||||||||
ALLL on impaired loans | 14,895 | 18,887 | 1,531 | 26,027 | 16,543 | 459 | 78,342 | |||||||||||||||
Commercial | Commercial | Residential | Other | |||||||||||||||||||
(dollar amounts in thousands) | and Industrial | Real Estate | Automobile | Home Equity | Mortgage | Consumer | Total | |||||||||||||||
ALLL at December 31, 2013: | ||||||||||||||||||||||
Portion of ending balance: | ||||||||||||||||||||||
Attributable to purchased credit-impaired loans | $ | 2,404 | $ | --- | $ | --- | $ | --- | $ | 36 | $ | --- | $ | 2,440 | ||||||||
Attributable to loans individually evaluated for impairment | 6,129 | 34,935 | 682 | 8,003 | 10,555 | 136 | 60,440 | |||||||||||||||
Attributable to loans collectively evaluated for impairment | 257,268 | 127,622 | 30,371 | 103,128 | 28,986 | 37,615 | 584,990 | |||||||||||||||
Total ALLL balance | $ | 265,801 | $ | 162,557 | $ | 31,053 | $ | 111,131 | $ | 39,577 | $ | 37,751 | $ | 647,870 | ||||||||
Loans and Leases at December 31, 2013: | ||||||||||||||||||||||
Portion of ending balance of impaired loans: | ||||||||||||||||||||||
Attributable to purchased credit-impaired loans | $ | 35,526 | $ | 82,073 | $ | --- | $ | --- | $ | 2,498 | $ | 129 | $ | 120,226 | ||||||||
Individually evaluated for impairment | 108,316 | 268,362 | 37,084 | 208,981 | 387,937 | 1,041 | 1,011,721 | |||||||||||||||
Collectively evaluated for impairment | 17,450,434 | 4,499,659 | 6,601,629 | 8,127,337 | 4,930,653 | 378,841 | 41,988,553 | |||||||||||||||
Total loans evaluated for impairment | $ | 17,594,276 | $ | 4,850,094 | $ | 6,638,713 | $ | 8,336,318 | $ | 5,321,088 | $ | 380,011 | $ | 43,120,500 | ||||||||
Portion of ending balance: | ||||||||||||||||||||||
With allowance assigned to the loan and lease balances | $ | 126,626 | $ | 187,836 | $ | 37,084 | $ | 208,981 | $ | 390,435 | $ | 1,041 | $ | 952,003 | ||||||||
With no allowance assigned to the loan and lease balances | 17,216 | 162,599 | --- | --- | --- | 129 | 179,944 | |||||||||||||||
Total | $ | 143,842 | $ | 350,435 | $ | 37,084 | $ | 208,981 | $ | 390,435 | $ | 1,170 | $ | 1,131,947 | ||||||||
Average balance of impaired loans | $ | 166,173 | $ | 365,053 | $ | 39,861 | $ | 162,170 | $ | 379,815 | $ | 2,248 | $ | 1,115,320 | ||||||||
ALLL on impaired loans | 8,533 | 34,935 | 682 | 8,003 | 10,591 | 136 | 62,880 | |||||||||||||||
Detailed impaired loan information by class | The following tables present by class the ending, unpaid principal balance, and the related ALLL, along with the average balance and interest income recognized only for loans and leases individually evaluated for impairment and purchased credit-impaired loans for the years ended December 31, 2014 and 2013 (1), (2): | |||||||||||||||||||||
Year Ended | ||||||||||||||||||||||
31-Dec-14 | 31-Dec-14 | |||||||||||||||||||||
Unpaid | Interest | |||||||||||||||||||||
Ending | Principal | Related | Average | Income | ||||||||||||||||||
(dollar amounts in thousands) | Balance | Balance (5) | Allowance | Balance | Recognized | |||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||
Commercial and industrial: | ||||||||||||||||||||||
Owner occupied | $ | 13,536 | $ | 13,536 | $ | --- | $ | 5,740 | $ | 205 | ||||||||||||
Purchased credit-impaired | --- | --- | --- | --- | --- | |||||||||||||||||
Other commercial and industrial | 24,309 | 26,858 | --- | 7,536 | 375 | |||||||||||||||||
Total commercial and industrial | $ | 37,845 | $ | 40,394 | $ | --- | $ | 13,276 | $ | 580 | ||||||||||||
Commercial real estate: | ||||||||||||||||||||||
Retail properties | $ | 61,915 | $ | 91,627 | $ | --- | $ | 53,121 | $ | 2,454 | ||||||||||||
Multi family | --- | --- | --- | --- | --- | |||||||||||||||||
Office | 1,130 | 3,574 | --- | 3,709 | 311 | |||||||||||||||||
Industrial and warehouse | 3,447 | 3,506 | --- | 5,012 | 248 | |||||||||||||||||
Purchased credit-impaired | 38,371 | 91,075 | --- | 59,424 | 11,519 | |||||||||||||||||
Other commercial real estate | 6,608 | 6,815 | --- | 6,598 | 286 | |||||||||||||||||
Total commercial real estate | $ | 111,471 | $ | 196,597 | $ | --- | $ | 127,864 | $ | 14,818 | ||||||||||||
Automobile | $ | --- | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||||||
Home equity: | ||||||||||||||||||||||
Secured by first-lien | $ | --- | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||||||
Secured by junior-lien | --- | --- | --- | --- | --- | |||||||||||||||||
Total home equity | $ | --- | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||||||
Residential mortgage: | ||||||||||||||||||||||
Residential mortgage | $ | --- | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||||||
Purchased credit-impaired | --- | --- | --- | --- | --- | |||||||||||||||||
Total residential mortgage | $ | --- | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||||||
Other consumer: | ||||||||||||||||||||||
Other consumer | $ | --- | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||||||
Purchased credit-impaired | --- | --- | --- | --- | --- | |||||||||||||||||
Total other consumer | $ | --- | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||||||
With an allowance recorded: | ||||||||||||||||||||||
Commercial and industrial: (3) | ||||||||||||||||||||||
Owner occupied | $ | 44,869 | $ | 53,639 | $ | 4,220 | $ | 40,192 | $ | 1,557 | ||||||||||||
Purchased credit-impaired | 23,228 | 35,307 | 3,846 | 32,253 | 6,973 | |||||||||||||||||
Other commercial and industrial | 134,279 | 162,908 | 6,829 | 88,595 | 2,686 | |||||||||||||||||
Total commercial and industrial | $ | 202,376 | $ | 251,854 | $ | 14,895 | $ | 161,040 | $ | 11,216 | ||||||||||||
Commercial real estate: (4) | ||||||||||||||||||||||
Retail properties | $ | 37,081 | $ | 38,397 | $ | 3,536 | $ | 63,393 | $ | 1,983 | ||||||||||||
Multi family | 17,277 | 23,725 | 2,339 | 16,897 | 659 | |||||||||||||||||
Office | 52,953 | 56,268 | 8,399 | 52,831 | 2,381 | |||||||||||||||||
Industrial and warehouse | 8,888 | 10,396 | 720 | 9,092 | 274 | |||||||||||||||||
Purchased credit-impaired | --- | --- | --- | --- | --- | |||||||||||||||||
Other commercial real estate | 27,963 | 33,472 | 3,893 | 241,513 | 1,831 | |||||||||||||||||
Total commercial real estate | $ | 144,162 | $ | 162,258 | $ | 18,887 | $ | 383,726 | $ | 7,128 | ||||||||||||
Automobile | $ | 30,612 | $ | 32,483 | $ | 1,531 | $ | 34,637 | $ | 2,637 | ||||||||||||
Home equity: | ||||||||||||||||||||||
Secured by first-lien | $ | 145,566 | $ | 157,978 | $ | 8,296 | $ | 126,602 | $ | 5,496 | ||||||||||||
Secured by junior-lien | 164,880 | 208,118 | 17,731 | 132,279 | 6,379 | |||||||||||||||||
Total home equity | $ | 310,446 | $ | 366,096 | $ | 26,027 | $ | 258,881 | $ | 11,875 | ||||||||||||
Residential mortgage: (6) | ||||||||||||||||||||||
Residential mortgage | $ | 369,577 | $ | 415,280 | $ | 16,535 | $ | 381,745 | $ | 11,594 | ||||||||||||
Purchased credit-impaired | 1,912 | 3,096 | 8 | 2,281 | 574 | |||||||||||||||||
Total residential mortgage | $ | 371,489 | $ | 418,376 | $ | 16,543 | $ | 384,026 | $ | 12,168 | ||||||||||||
Other consumer: | ||||||||||||||||||||||
Other consumer | $ | 4,088 | $ | 4,209 | $ | 214 | $ | 2,796 | $ | 202 | ||||||||||||
Purchased credit-impaired | 51 | 123 | 245 | 83 | 15 | |||||||||||||||||
Total other consumer | $ | 4,139 | $ | 4,332 | $ | 459 | $ | 2,879 | $ | 217 | ||||||||||||
Year Ended | ||||||||||||||||||||||
31-Dec-13 | 31-Dec-13 | |||||||||||||||||||||
Unpaid | Interest | |||||||||||||||||||||
Ending | Principal | Related | Average | Income | ||||||||||||||||||
(dollar amounts in thousands) | Balance | Balance (5) | Allowance | Balance | Recognized | |||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||
Commercial and Industrial: | ||||||||||||||||||||||
Owner occupied | $ | 5,332 | $ | 5,373 | $ | --- | $ | 4,473 | $ | 172 | ||||||||||||
Purchased credit-impaired | --- | --- | --- | --- | --- | |||||||||||||||||
Other commercial and industrial | 11,884 | 15,031 | --- | 13,117 | 640 | |||||||||||||||||
Total commercial and industrial | $ | 17,216 | $ | 20,404 | $ | --- | $ | 17,590 | $ | 812 | ||||||||||||
Commercial real estate: | ||||||||||||||||||||||
Retail properties | $ | 55,773 | $ | 64,780 | $ | --- | $ | 46,764 | $ | 2,450 | ||||||||||||
Multi family | --- | --- | --- | 3,627 | 220 | |||||||||||||||||
Office | 9,069 | 13,721 | --- | 12,151 | 1,161 | |||||||||||||||||
Industrial and warehouse | 9,682 | 10,803 | --- | 10,586 | 595 | |||||||||||||||||
Purchased credit-impaired | 82,073 | 154,869 | --- | 104,513 | 10,875 | |||||||||||||||||
Other commercial real estate | 6,002 | 6,924 | --- | 7,954 | 434 | |||||||||||||||||
Total commercial real estate | $ | 162,599 | $ | 251,097 | $ | --- | $ | 185,595 | $ | 15,735 | ||||||||||||
Automobile | $ | --- | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||||||
Home equity: | ||||||||||||||||||||||
Secured by first-lien | $ | --- | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||||||
Secured by junior-lien | --- | --- | --- | --- | --- | |||||||||||||||||
Total home equity | $ | --- | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||||||
Residential mortgage: | ||||||||||||||||||||||
Residential mortgage | $ | --- | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||||||
Purchased credit-impaired | --- | --- | --- | --- | --- | |||||||||||||||||
Total residential mortgage | $ | --- | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||||||
Other consumer: | ||||||||||||||||||||||
Other consumer | $ | --- | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||||||
Purchased credit-impaired | 129 | 219 | --- | 137 | 17 | |||||||||||||||||
Total other consumer | $ | 129 | $ | 219 | $ | --- | $ | 137 | $ | 17 | ||||||||||||
With an allowance recorded: | ||||||||||||||||||||||
Commercial and Industrial: (3) | ||||||||||||||||||||||
Owner occupied | $ | 40,271 | $ | 52,810 | $ | 3,421 | $ | 41,469 | $ | 1,390 | ||||||||||||
Purchased credit-impaired | 35,526 | 50,798 | 2,404 | 47,442 | 4,708 | |||||||||||||||||
Other commercial and industrial | 50,829 | 64,497 | 2,708 | 59,672 | 3,242 | |||||||||||||||||
Total commercial and industrial | $ | 126,626 | $ | 168,105 | $ | 8,533 | $ | 148,583 | $ | 9,340 | ||||||||||||
Commercial real estate: (4) | ||||||||||||||||||||||
Retail properties | $ | 72,339 | $ | 93,395 | $ | 5,984 | $ | 64,414 | $ | 1,936 | ||||||||||||
Multi family | 13,484 | 15,408 | 1,944 | 14,922 | 651 | |||||||||||||||||
Office | 50,307 | 54,921 | 9,927 | 48,113 | 1,808 | |||||||||||||||||
Industrial and warehouse | 9,162 | 10,561 | 808 | 15,322 | 541 | |||||||||||||||||
Purchased credit-impaired | --- | --- | --- | --- | --- | |||||||||||||||||
Other commercial real estate | 42,544 | 50,960 | 16,272 | 36,687 | 1,547 | |||||||||||||||||
Total commercial real estate | $ | 187,836 | $ | 225,245 | $ | 34,935 | $ | 179,458 | $ | 6,483 | ||||||||||||
Automobile | $ | 37,084 | $ | 38,758 | $ | 682 | $ | 39,861 | $ | 2,955 | ||||||||||||
Home equity: | ||||||||||||||||||||||
Secured by first-lien | $ | 110,024 | $ | 116,846 | $ | 2,396 | $ | 96,184 | $ | 4,116 | ||||||||||||
Secured by junior-lien | 98,957 | 143,967 | 5,607 | 65,986 | 3,379 | |||||||||||||||||
Total home equity | $ | 208,981 | $ | 260,813 | $ | 8,003 | $ | 162,170 | $ | 7,495 | ||||||||||||
Residential mortgage: | ||||||||||||||||||||||
Residential mortgage | $ | 387,937 | $ | 427,924 | $ | 10,555 | $ | 377,530 | $ | 11,752 | ||||||||||||
Purchased credit-impaired | 2,498 | 3,681 | 36 | 2,285 | 331 | |||||||||||||||||
Total residential mortgage | $ | 390,435 | $ | 431,605 | $ | 10,591 | $ | 379,815 | $ | 12,083 | ||||||||||||
Other consumer: | ||||||||||||||||||||||
Other consumer | $ | 1,041 | $ | 1,041 | $ | 136 | $ | 2,111 | $ | 116 | ||||||||||||
Purchased credit-impaired | --- | --- | --- | --- | --- | |||||||||||||||||
Total other consumer | $ | 1,041 | $ | 1,041 | $ | 136 | $ | 2,111 | $ | 116 | ||||||||||||
-1 | These tables do not include loans fully charged-off. | |||||||||||||||||||||
-2 | All automobile, home equity, residential mortgage, and other consumer impaired loans included in these tables are considered impaired due to their status as a TDR. | |||||||||||||||||||||
-3 | At December 31, 2014, $62,737 thousand of the $202,376 thousand C&I loans with an allowance recorded were considered impaired due to their status as a TDR. At December 31, 2013, $43,805 thousand of the $126,626 thousand C&I loans with an allowance recorded were considered impaired due to their status as a TDR. | |||||||||||||||||||||
-4 | At December 31, 2014, $27,423 thousand of the $144,162 thousand CRE loans with an allowance recorded were considered impaired due to their status as a TDR. At December 31, 2013, $24,805 thousand of the $187,836 thousand CRE loans with an allowance recorded were considered impaired due to their status as a TDR. | |||||||||||||||||||||
-5 | The differences between the ending balance and unpaid principal balance amounts represent partial charge-offs. | |||||||||||||||||||||
-6 | At December 31, 2014, $24,470 thousand of the $371,489 thousand residential mortgage loans with an allowance recorded were guaranteed by the U.S. government. At December 31, 2013, $49,225 thousand of the $390,435 thousand residential mortgage loans with an allowance recorded were guaranteed by the U.S. government. | |||||||||||||||||||||
Detailed troubled debt restructuring information by class | The following table presents by class and by the reason for the modification the number of contracts, post-modification outstanding balance, and the financial effects of the modification for the years ended December 31, 2014 and 2013: | |||||||||||||||||||||
New Troubled Debt Restructurings During The Year Ended(1) | ||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||
Post-modification | ||||||||||||||||||||||
Outstanding | Post-modification | |||||||||||||||||||||
Number of | Ending | Financial effects | Number of | Outstanding | Financial effects | |||||||||||||||||
(dollar amounts in thousands) | Contracts | Balance | of modification(2) | Contracts | Balance | of modification(2) | ||||||||||||||||
C&I - Owner occupied:(3) | ||||||||||||||||||||||
Interest rate reduction | 19 | $ | 2,484 | $ | 20 | 22 | $ | 6,601 | $ | -466 | ||||||||||||
Amortization or maturity date change | 97 | 32,145 | 336 | 64 | 15,662 | -12 | ||||||||||||||||
Other | 7 | 2,051 | -36 | 16 | 7,367 | 337 | ||||||||||||||||
Total C&I - Owner occupied | 123 | $ | 36,680 | $ | 320 | 102 | $ | 29,630 | $ | -141 | ||||||||||||
C&I - Other commercial and industrial:(3) | ||||||||||||||||||||||
Interest rate reduction | 25 | $ | 50,534 | $ | -1,982 | 26 | $ | 75,447 | $ | -1,040 | ||||||||||||
Amortization or maturity date change | 285 | 149,339 | -2,407 | 120 | 53,340 | 1,295 | ||||||||||||||||
Other | 21 | 7,613 | -7 | 35 | 18,290 | -1,163 | ||||||||||||||||
Total C&I - Other commercial and industrial | 331 | $ | 207,486 | $ | -4,396 | 181 | $ | 147,077 | $ | -908 | ||||||||||||
CRE - Retail properties:(3) | ||||||||||||||||||||||
Interest rate reduction | 5 | $ | 11,381 | $ | 420 | 4 | $ | 1,116 | $ | -8 | ||||||||||||
Amortization or maturity date change | 24 | 27,415 | -267 | 21 | 27,550 | 4,159 | ||||||||||||||||
Other | 9 | 13,765 | -35 | 12 | 19,842 | -558 | ||||||||||||||||
Total CRE - Retail properties | 38 | $ | 52,561 | $ | 118 | 37 | $ | 48,508 | $ | 3,593 | ||||||||||||
CRE - Multi family:(3) | ||||||||||||||||||||||
Interest rate reduction | 20 | $ | 3,484 | $ | -75 | 10 | $ | 4,444 | $ | 7 | ||||||||||||
Amortization or maturity date change | 40 | 9,791 | 197 | 16 | 2,345 | 415 | ||||||||||||||||
Other | 8 | 5,016 | 57 | 5 | 8,085 | -2 | ||||||||||||||||
Total CRE - Multi family | 68 | $ | 18,291 | $ | 179 | 31 | $ | 14,874 | $ | 420 | ||||||||||||
CRE - Office:(3) | ||||||||||||||||||||||
Interest rate reduction | 2 | $ | 120 | $ | -1 | 7 | $ | 6,504 | $ | 1,656 | ||||||||||||
Amortization or maturity date change | 22 | 18,157 | -424 | 16 | 12,388 | 91 | ||||||||||||||||
Other | 5 | 35,476 | -3,153 | 6 | 7,044 | 655 | ||||||||||||||||
Total CRE - Office | 29 | $ | 53,753 | $ | -3,578 | 29 | $ | 25,936 | $ | 2,402 | ||||||||||||
CRE - Industrial and warehouse:(3) | ||||||||||||||||||||||
Interest rate reduction | 2 | $ | 4,046 | $ | --- | 1 | $ | 2,682 | $ | -476 | ||||||||||||
Amortization or maturity date change | 17 | 9,187 | 164 | 9 | 4,069 | -185 | ||||||||||||||||
Other | 1 | 977 | --- | 1 | 5,867 | --- | ||||||||||||||||
Total CRE - Industrial and Warehouse | 20 | $ | 14,210 | $ | 164 | 11 | $ | 12,618 | $ | -661 | ||||||||||||
CRE - Other commercial real estate:(3) | ||||||||||||||||||||||
Interest rate reduction | 8 | $ | 5,224 | $ | 146 | 19 | $ | 10,996 | $ | 96 | ||||||||||||
Amortization or maturity date change | 55 | 76,353 | -2,789 | 21 | 17,851 | 4,923 | ||||||||||||||||
Other | 4 | 1,809 | -127 | 13 | 9,735 | -101 | ||||||||||||||||
Total CRE - Other commercial real estate | 67 | $ | 83,386 | $ | -2,770 | 53 | $ | 38,582 | $ | 4,918 | ||||||||||||
Automobile:(3) | ||||||||||||||||||||||
Interest rate reduction | 92 | $ | 758 | $ | 15 | 14 | $ | 106 | $ | --- | ||||||||||||
Amortization or maturity date change | 1,880 | 12,120 | 151 | 1,659 | 9,420 | -76 | ||||||||||||||||
Chapter 7 bankruptcy | 625 | 4,938 | 66 | 1,313 | 7,748 | 301 | ||||||||||||||||
Other | --- | --- | --- | --- | --- | --- | ||||||||||||||||
Total Automobile | 2,597 | $ | 17,816 | $ | 232 | 2,986 | $ | 17,274 | $ | 225 | ||||||||||||
Residential mortgage:(3) | ||||||||||||||||||||||
Interest rate reduction | 27 | $ | 3,692 | $ | 19 | 65 | $ | 11,662 | $ | 3 | ||||||||||||
Amortization or maturity date change | 333 | 44,027 | 552 | 442 | 58,344 | 384 | ||||||||||||||||
Chapter 7 bankruptcy | 182 | 18,635 | 715 | 458 | 39,813 | 1,345 | ||||||||||||||||
Other | 5 | 526 | 5 | 17 | 1,837 | 39 | ||||||||||||||||
Total Residential mortgage | 547 | $ | 66,880 | $ | 1,291 | 982 | $ | 111,656 | $ | 1,771 | ||||||||||||
First-lien home equity:(3) | ||||||||||||||||||||||
Interest rate reduction | 193 | $ | 15,172 | $ | 764 | 134 | $ | 12,244 | $ | 1,149 | ||||||||||||
Amortization or maturity date change | 289 | 23,272 | -1,051 | 279 | 19,280 | -1,084 | ||||||||||||||||
Chapter 7 bankruptcy | 105 | 7,296 | 727 | 257 | 14,987 | 748 | ||||||||||||||||
Other | --- | --- | --- | --- | --- | --- | ||||||||||||||||
Total First-lien home equity | 587 | $ | 45,740 | $ | 440 | 670 | $ | 46,511 | $ | 813 | ||||||||||||
Junior-lien home equity:(3) | ||||||||||||||||||||||
Interest rate reduction | 187 | $ | 6,960 | $ | 296 | 25 | $ | 1,179 | $ | 190 | ||||||||||||
Amortization or maturity date change | 1,467 | 58,129 | -6,955 | 1,491 | 55,389 | -5,431 | ||||||||||||||||
Chapter 7 bankruptcy | 201 | 3,014 | 3,141 | 1,564 | 15,303 | 33,623 | ||||||||||||||||
Other | --- | --- | --- | --- | --- | --- | ||||||||||||||||
Total Junior-lien home equity | 1,855 | $ | 68,103 | $ | -3,518 | 3,080 | $ | 71,871 | $ | 28,382 | ||||||||||||
Other consumer:(3) | ||||||||||||||||||||||
Interest rate reduction | 7 | $ | 123 | $ | 3 | 5 | $ | 306 | $ | 48 | ||||||||||||
Amortization or maturity date change | 48 | 1,803 | 12 | 11 | 117 | 5 | ||||||||||||||||
Chapter 7 bankruptcy | 25 | 483 | -50 | 36 | 565 | 29 | ||||||||||||||||
Other | --- | --- | --- | --- | --- | --- | ||||||||||||||||
Total Other consumer | 80 | $ | 2,409 | $ | -35 | 52 | $ | 988 | $ | 82 | ||||||||||||
Total new troubled debt restructurings | 6,342 | $ | 667,315 | $ | -11,553 | 8,214 | $ | 565,525 | $ | 40,896 | ||||||||||||
-1 | TDRs may include multiple concessions and the disclosure classifications are based on the primary concession provided to the borrower. | |||||||||||||||||||||
-2 | Amounts represent the financial impact via provision (recovery) for loan and lease losses as a result of the modification. | |||||||||||||||||||||
-3 | Post-modification balances approximate pre-modification balances. The aggregate amount of charge-offs as a result of a restructuring are not significant. | |||||||||||||||||||||
Any loan within any portfolio or class is considered as payment redefaulted at 90-days past due. | ||||||||||||||||||||||
The following table presents TDRs that have redefaulted within one year of modification during the years ended December 31, 2014 and 2013: | ||||||||||||||||||||||
Troubled Debt Restructurings That Have Redefaulted | ||||||||||||||||||||||
Within One Year of Modification During The Year Ended | ||||||||||||||||||||||
December 31, 2014(1) | December 31, 2013(1) | |||||||||||||||||||||
(dollar amounts in thousands) | Number of | Ending | Number of | Ending | ||||||||||||||||||
Contracts | Balance | Contracts | Balance | |||||||||||||||||||
C&I - Owner occupied: | ||||||||||||||||||||||
Interest rate reduction | --- | $ | --- | --- | $ | --- | ||||||||||||||||
Amortization or maturity date change | 6 | 946 | 10 | 1,144 | ||||||||||||||||||
Other | 1 | 230 | 7 | 1,221 | ||||||||||||||||||
Total C&I - Owner occupied | 7 | $ | 1,176 | 17 | $ | 2,365 | ||||||||||||||||
C&I - Other commercial and industrial: | ||||||||||||||||||||||
Interest rate reduction | 1 | $ | 30 | --- | $ | --- | ||||||||||||||||
Amortization or maturity date change | 14 | 1,555 | 17 | 476 | ||||||||||||||||||
Other | 3 | 37 | --- | --- | ||||||||||||||||||
Total C&I - Other commercial and industrial | 18 | $ | 1,622 | 17 | $ | 476 | ||||||||||||||||
CRE - Retail Properties: | ||||||||||||||||||||||
Interest rate reduction | --- | $ | --- | 1 | $ | 302 | ||||||||||||||||
Amortization or maturity date change | 1 | 483 | 4 | 993 | ||||||||||||||||||
Other | --- | --- | 1 | 186 | ||||||||||||||||||
Total CRE - Retail properties | 1 | $ | 483 | 6 | $ | 1,481 | ||||||||||||||||
CRE - Multi family: | ||||||||||||||||||||||
Interest rate reduction | --- | $ | --- | --- | $ | --- | ||||||||||||||||
Amortization or maturity date change | 4 | 2,827 | 2 | 225 | ||||||||||||||||||
Other | 1 | 176 | --- | --- | ||||||||||||||||||
Total CRE - Multi family | 5 | $ | 3,003 | 2 | $ | 225 | ||||||||||||||||
CRE - Office: | ||||||||||||||||||||||
Interest rate reduction | --- | $ | --- | --- | $ | --- | ||||||||||||||||
Amortization or maturity date change | 3 | 1,738 | 2 | 1,131 | ||||||||||||||||||
Other | --- | --- | --- | --- | ||||||||||||||||||
Total CRE - Office | 3 | $ | 1,738 | 2 | $ | 1,131 | ||||||||||||||||
CRE - Industrial and Warehouse: | ||||||||||||||||||||||
Interest rate reduction | 1 | $ | 1,339 | --- | $ | --- | ||||||||||||||||
Amortization or maturity date change | 1 | 756 | 1 | 361 | ||||||||||||||||||
Other | --- | --- | 1 | 726 | ||||||||||||||||||
Total CRE - Industrial and Warehouse | 2 | $ | 2,095 | 2 | $ | 1,087 | ||||||||||||||||
CRE - Other commercial real estate: | ||||||||||||||||||||||
Interest rate reduction | 1 | $ | 169 | --- | $ | --- | ||||||||||||||||
Amortization or maturity date change | 2 | 758 | 4 | 774 | ||||||||||||||||||
Other | --- | --- | 1 | 5 | ||||||||||||||||||
Total CRE - Other commercial real estate | 3 | $ | 927 | 5 | $ | 779 | ||||||||||||||||
Automobile: | ||||||||||||||||||||||
Interest rate reduction | --- | $ | --- | 1 | $ | 112 | ||||||||||||||||
Amortization or maturity date change | 40 | 328 | 37 | 380 | ||||||||||||||||||
Chapter 7 bankruptcy | 53 | 374 | 137 | 617 | ||||||||||||||||||
Other | --- | --- | --- | --- | ||||||||||||||||||
Total Automobile | 93 | $ | 702 | 175 | $ | 1,109 | ||||||||||||||||
Residential mortgage: | ||||||||||||||||||||||
Interest rate reduction | 11 | $ | 1,516 | 4 | $ | 424 | ||||||||||||||||
Amortization or maturity date change | 82 | 8,974 | 78 | 11,263 | ||||||||||||||||||
Chapter 7 bankruptcy | 37 | 3,187 | 71 | 6,647 | ||||||||||||||||||
Other | --- | --- | 2 | 418 | ||||||||||||||||||
Total Residential mortgage | 130 | $ | 13,677 | 155 | $ | 18,752 | ||||||||||||||||
First-lien home equity: | ||||||||||||||||||||||
Interest rate reduction | 5 | $ | 335 | 1 | $ | 87 | ||||||||||||||||
Amortization or maturity date change | 16 | 2,109 | 6 | 629 | ||||||||||||||||||
Chapter 7 bankruptcy | 16 | 1,005 | 16 | 1,235 | ||||||||||||||||||
Other | --- | --- | --- | --- | ||||||||||||||||||
Total First-lien home equity | 37 | $ | 3,449 | 23 | $ | 1,951 | ||||||||||||||||
Junior-lien home equity: | ||||||||||||||||||||||
Interest rate reduction | 1 | $ | 11 | 1 | $ | --- | ||||||||||||||||
Amortization or maturity date change | 31 | 1,841 | 9 | 478 | ||||||||||||||||||
Chapter 7 bankruptcy | 39 | 620 | 40 | 718 | ||||||||||||||||||
Other | --- | --- | --- | --- | ||||||||||||||||||
Total Junior-lien home equity | 71 | $ | 2,472 | 50 | $ | 1,196 | ||||||||||||||||
Other consumer: | ||||||||||||||||||||||
Interest rate reduction | --- | $ | --- | --- | $ | --- | ||||||||||||||||
Amortization or maturity date change | --- | --- | --- | --- | ||||||||||||||||||
Chapter 7 bankruptcy | --- | --- | 3 | 96 | ||||||||||||||||||
Other | --- | --- | --- | --- | ||||||||||||||||||
Total Other consumer | --- | $ | --- | 3 | $ | 96 | ||||||||||||||||
Total troubled debt restructurings with subsequent redefault | 370 | $ | 31,344 | 457 | $ | 30,648 | ||||||||||||||||
-1 | Subsequent redefault is defined as a payment redefault within 12 months of the restructuring date. Payment redefault is defined as 90-days past due for any loan in any portfolio or class. Any loan in any portfolio may be considered to be in payment redefault prior to the guidelines noted above when collection of principal or interest is in doubt. |
AvailableforSale_and_Other_Sec
Available-for-Sale and Other Securities (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Securities [Abstract] | |||||||||||||||||||
Contractual maturities of investment securities | Contractual maturities of available-for-sale and other securities as of December 31, 2014 and 2013 were: | ||||||||||||||||||
2014 | 2013 | ||||||||||||||||||
Amortized | Fair | Amortized | Fair | ||||||||||||||||
(dollar amounts in thousands) | Cost | Value | Cost | Value | |||||||||||||||
Under 1 year | $ | 355,486 | $ | 355,465 | $ | 263,366 | $ | 262,752 | |||||||||||
1 - 5 years | 1,047,492 | 1,066,041 | 1,665,644 | 1,697,234 | |||||||||||||||
6 - 10 years | 1,517,974 | 1,527,195 | 1,440,056 | 1,433,303 | |||||||||||||||
Over 10 years | 6,090,688 | 6,086,980 | 3,662,328 | 3,577,502 | |||||||||||||||
Other securities: | |||||||||||||||||||
Nonmarketable equity securities | 331,559 | 331,559 | 320,991 | 320,991 | |||||||||||||||
Marketable equity securities | 16,687 | 17,430 | 16,522 | 16,971 | |||||||||||||||
Total available-for-sale and other securities | $ | 9,359,886 | $ | 9,384,670 | $ | 7,368,907 | $ | 7,308,753 | |||||||||||
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | Unrealized | ||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||
(dollar amounts in thousands) | Cost | Gains | Losses | Value | |||||||||||||||
31-Dec-14 | |||||||||||||||||||
U.S. Treasury | $ | 5,435 | $ | 17 | $ | --- | $ | 5,452 | |||||||||||
Federal agencies: | |||||||||||||||||||
Mortgage-backed securities | 5,273,899 | 63,906 | -15,104 | 5,322,701 | |||||||||||||||
Other agencies | 349,715 | 2,871 | -1,043 | 351,543 | |||||||||||||||
Total U.S. Treasury and Federal agency securities | 5,629,049 | 66,794 | -16,147 | 5,679,696 | |||||||||||||||
Municipal securities | 1,841,311 | 37,398 | -10,140 | 1,868,569 | |||||||||||||||
Private-label CMO | 43,730 | 1,116 | -2,920 | 41,926 | |||||||||||||||
Asset-backed securities | 1,014,999 | 2,061 | -61,062 | 955,998 | |||||||||||||||
Corporate debt securities | 479,151 | 9,442 | -2,417 | 486,176 | |||||||||||||||
Other securities | 351,646 | 743 | -84 | 352,305 | |||||||||||||||
Total available-for-sale and other securities | $ | 9,359,886 | $ | 117,554 | $ | -92,770 | $ | 9,384,670 | |||||||||||
Unrealized | |||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||
(dollar amounts in thousands) | Cost | Gains | Losses | Value | |||||||||||||||
31-Dec-13 | |||||||||||||||||||
U.S. Treasury | $ | 51,301 | $ | 303 | $ | --- | $ | 51,604 | |||||||||||
Federal agencies: | |||||||||||||||||||
Mortgage-backed securities | 3,562,444 | 42,319 | -38,542 | 3,566,221 | |||||||||||||||
Other agencies | 313,877 | 6,105 | -94 | 319,888 | |||||||||||||||
Total U.S. Treasury and Federal agency securities | 3,927,622 | 48,727 | -38,636 | 3,937,713 | |||||||||||||||
Municipal securities (1) | 1,140,263 | 18,825 | -13,096 | 1,145,992 | |||||||||||||||
Private-label CMO | 51,238 | 1,188 | -3,322 | 49,104 | |||||||||||||||
Asset-backed securities | 1,172,284 | 6,771 | -88,015 | 1,091,040 | |||||||||||||||
Covered bonds | 280,595 | 5,279 | --- | 285,874 | |||||||||||||||
Corporate debt securities | 455,493 | 11,241 | -9,494 | 457,240 | |||||||||||||||
Other securities | 341,412 | 511 | -133 | 341,790 | |||||||||||||||
Total available-for-sale and other securities | $ | 7,368,907 | $ | 92,542 | $ | -152,696 | $ | 7,308,753 | |||||||||||
(1) Effective December 31, 2013 approximately $600.4 million of direct purchase municipal instruments were reclassified from C&I loans to available-for-sale securities. | |||||||||||||||||||
Available for sale securities in an unrealized loss position table text block | Less than 12 Months | Over 12 Months | Total | ||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||
(dollar amounts in thousands ) | Value | Losses | Value | Losses | Value | Losses | |||||||||||||
31-Dec-14 | |||||||||||||||||||
Federal Agencies: | |||||||||||||||||||
Mortgage-backed securities | $ | 501,858 | $ | -1,909 | $ | 527,280 | $ | -13,195 | $ | 1,029,138 | $ | -15,104 | |||||||
Other agencies | 159,708 | -1,020 | 1,281 | -23 | 160,989 | -1,043 | |||||||||||||
Total Federal agency securities | 661,566 | -2,929 | 528,561 | -13,218 | 1,190,127 | -16,147 | |||||||||||||
Municipal securities | 568,619 | -9,127 | 96,426 | -1,013 | 665,045 | -10,140 | |||||||||||||
Private label CMO | --- | --- | 22,650 | -2,920 | 22,650 | -2,920 | |||||||||||||
Asset-backed securities | 157,613 | -641 | 325,691 | -60,421 | 483,304 | -61,062 | |||||||||||||
Corporate debt securities | 49,562 | -252 | 88,398 | -2,165 | 137,960 | -2,417 | |||||||||||||
Other securities | --- | --- | 1,416 | -84 | 1,416 | -84 | |||||||||||||
Total temporarily impaired securities | $ | 1,437,360 | $ | -12,949 | $ | 1,063,142 | $ | -79,821 | $ | 2,500,502 | $ | -92,770 | |||||||
Less than 12 Months | Over 12 Months | Total | |||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||
(dollar amounts in thousands ) | Value | Losses | Value | Losses | Value | Losses | |||||||||||||
31-Dec-13 | |||||||||||||||||||
Federal Agencies | |||||||||||||||||||
Mortgage-backed securities | $ | 1,628,454 | $ | -37,174 | $ | 12,682 | $ | -1,368 | $ | 1,641,136 | $ | -38,542 | |||||||
Other agencies | 2,069 | -94 | --- | --- | 2,069 | -94 | |||||||||||||
Total Federal agency securities | 1,630,523 | -37,268 | 12,682 | -1,368 | 1,643,205 | -38,636 | |||||||||||||
Municipal securities | 551,114 | -12,395 | 7,531 | -701 | 558,645 | -13,096 | |||||||||||||
Private label CMO | --- | --- | 22,639 | -3,322 | 22,639 | -3,322 | |||||||||||||
Asset-backed securities | 391,665 | -9,720 | 107,419 | -78,295 | 499,084 | -88,015 | |||||||||||||
Corporate debt securities | 146,308 | -7,729 | 26,155 | -1,765 | 172,463 | -9,494 | |||||||||||||
Other securities | 3,078 | -72 | 2,530 | -61 | 5,608 | -133 | |||||||||||||
Total temporarily impaired securities | $ | 2,722,688 | $ | -67,184 | $ | 178,956 | $ | -85,512 | $ | 2,901,644 | $ | -152,696 | |||||||
Realized securities gains and losses | The following table is a summary of realized securities gains and losses for the years ended December 31, 2014, 2013, and 2012: | ||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | ||||||||||||||||
Gross gains on sales of securities | $ | 17,729 | $ | 2,932 | $ | 8,612 | |||||||||||||
Gross (losses) on sales of securities | -175 | -712 | -2,224 | ||||||||||||||||
Net gain (loss) on sales of securities | $ | 17,554 | $ | 2,220 | $ | 6,388 | |||||||||||||
Credit Ratings on Selected Investment Securities | The following table presents the credit ratings for our CDO and private label CMO securities as of December 31, 2014 and 2013: | ||||||||||||||||||
Credit Ratings of Selected Investment Securities | |||||||||||||||||||
(dollar amounts in thousands) | Average Credit Rating of Fair Value Amount (1) | ||||||||||||||||||
Amortized | |||||||||||||||||||
Cost | Fair Value | AAA | AA +/- | A +/- | BBB +/- | <BBB- | |||||||||||||
Private-label CMO securities | $ | 43,730 | $ | 41,926 | $ | 11,461 | $ | --- | $ | --- | $ | 10,161 | $ | 20,304 | |||||
Collateralized debt obligations | 139,194 | 82,738 | --- | --- | --- | --- | 82,738 | ||||||||||||
Total at December 31, 2014 | $ | 182,924 | $ | 124,664 | $ | 11,461 | $ | --- | $ | --- | $ | 10,161 | $ | 103,042 | |||||
Total at December 31, 2013 | $ | 212,968 | $ | 133,240 | $ | 16,964 | $ | --- | $ | 17,855 | $ | 11,785 | $ | 86,636 | |||||
-1 | Credit ratings reflect the lowest current rating assigned by a nationally recognized credit rating agency. | ||||||||||||||||||
Trust Preferred Securities Data | The following table summarizes the relevant characteristics of our CDO securities portfolio, which are included in asset-backed securities, at December 31, 2014 and 2013. Each security is part of a pool of issuers and supports a more senior tranche of securities except for the MM Comm III securities which are the most senior class. | ||||||||||||||||||
Collateralized Debt Obligation Securities Data | |||||||||||||||||||
(dollar amounts in thousands) | Actual | ||||||||||||||||||
Deferrals | Expected | ||||||||||||||||||
and | Defaults | ||||||||||||||||||
# of Issuers | Defaults | as a % of | |||||||||||||||||
Lowest | Currently | as a % of | Remaining | ||||||||||||||||
Amortized | Fair | Unrealized | Credit | Performing/ | Original | Performing | Excess | ||||||||||||
Deal Name | Par Value | Cost | Value | Loss (2) | Rating (3) | Remaining (4) | Collateral | Collateral | Subordination (5) | ||||||||||
Alesco II (1) | $ | 41,646 | $ | 28,834 | $ | 16,758 | $ | -12,076 | C | 30/33 | 8 | % | 7 | % | --- | % | |||
ICONS | 19,837 | 19,837 | 15,786 | -4,051 | BB | 19/21 | 7 | 15 | 57 | ||||||||||
MM Comm III | 5,584 | 5,335 | 4,418 | -917 | BB | 9-May | 5 | 9 | 31 | ||||||||||
Pre TSL IX | 5,000 | 3,955 | 2,403 | -1,552 | C | 28/40 | 19 | 9 | 4 | ||||||||||
Pre TSL XI (1) | 25,000 | 20,632 | 12,248 | -8,384 | C | 43/56 | 16 | 9 | 8 | ||||||||||
Pre TSL XIII (1) | 27,530 | 20,252 | 13,302 | -6,950 | C | 44/58 | 16 | 16 | 13 | ||||||||||
Reg Diversified (1) | 25,500 | 6,908 | 1,142 | -5,766 | D | 23/41 | 38 | 9 | --- | ||||||||||
Soloso (1) | 12,500 | 2,440 | 368 | -2,072 | C | 38/61 | 29 | 18 | --- | ||||||||||
Tropic III | 31,000 | 31,001 | 16,313 | -14,688 | CCC+ | 28/40 | 21 | 8 | 37 | ||||||||||
Total at December 31, 2014 | $ | 193,597 | $ | 139,194 | $ | 82,738 | $ | -56,456 | |||||||||||
Total at December 31, 2013 | $ | 214,419 | $ | 161,730 | $ | 84,136 | $ | -77,594 | |||||||||||
-1 | Security was determined to have OTTI. As such, the book value is net of recorded credit impairment. | ||||||||||||||||||
-2 | The majority of securities have been in a continuous loss position for 12 months or longer. | ||||||||||||||||||
-3 | For purposes of comparability, the lowest credit rating expressed is equivalent to Fitch ratings even where the lowest rating is based on another nationally recognized credit rating agency. | ||||||||||||||||||
-4 | Includes both banks and/or insurance companies. | ||||||||||||||||||
-5 | Excess subordination percentage represents the additional defaults in excess of both current and projected defaults that the CDO can absorb before the bond experiences credit impairment. Excess subordinated percentage is calculated by (a) determining what percentage of defaults a deal can experience before the bond has credit impairment, and (b) subtracting from this default breakage percentage both total current and expected future default percentages. | ||||||||||||||||||
Total OTTI losses, OTTI losses included in OCI, and OTTI recognized in the income statement for securities evaluated for impairment by debt security debt | For the periods ended December 31, 2014, 2013 and 2012, the following table summarizes by security type, the total OTTI losses recognized in the Consolidated Statements of Income for securities evaluated for impairment as described above: | ||||||||||||||||||
Year ended December 31, | |||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | ||||||||||||||||
Available-for-sale and other securities: | |||||||||||||||||||
Collateralized Debt Obligations | --- | -1,466 | --- | ||||||||||||||||
Private label CMO | --- | -336 | -1,614 | ||||||||||||||||
Total debt securities | --- | -1,802 | -1,614 | ||||||||||||||||
Equity securities | --- | --- | -5 | ||||||||||||||||
Total available-for-sale and other securities | $ | --- | $ | -1,802 | $ | -1,619 | |||||||||||||
OTTI recognized in earnings on debt securities held by Huntington | The following table rolls forward the OTTI recognized in earnings on debt securities held by Huntington for the years ended December 31, 2014 and 2013 as follows: | ||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | |||||||||||||||||
Balance, beginning of year | $ | 30,869 | $ | 49,433 | |||||||||||||||
Reductions from sales | --- | -20,366 | |||||||||||||||||
Credit losses not previously recognized | --- | --- | |||||||||||||||||
Additional credit losses | --- | 1,802 | |||||||||||||||||
Balance, end of year | $ | 30,869 | $ | 30,869 | |||||||||||||||
Held_To_Maturity_Securities_Ta
Held To Maturity Securities (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Held to Maturity Securities [Abstract] | |||||||||||||||||||
Contractual maturities of held-to-maturity securities | Listed below are the contractual maturities (under 1 year, 1-5 years, 6-10 years, and over 10 years) of held-to-maturity securities at December 31, 2014 and 2013: | ||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||
Amortized | Fair | Amortized | |||||||||||||||||
(dollar amounts in thousands) | Cost | Value | Cost | Fair Value | |||||||||||||||
Federal agencies: mortgage-backed securities: | |||||||||||||||||||
Under 1 year | $ | --- | $ | --- | $ | --- | $ | --- | |||||||||||
1-5 years | --- | --- | --- | --- | |||||||||||||||
6-10 years | 24,901 | 24,263 | 24,901 | 22,549 | |||||||||||||||
Over 10 years | 3,136,460 | 3,140,194 | 3,574,156 | 3,506,018 | |||||||||||||||
Total Federal agencies: mortgage-backed securities | 3,161,361 | 3,164,457 | 3,599,057 | 3,528,567 | |||||||||||||||
Other agencies: | |||||||||||||||||||
Under 1 year | --- | --- | --- | --- | |||||||||||||||
1-5 years | --- | --- | --- | --- | |||||||||||||||
6-10 years | 54,010 | 54,843 | 38,588 | 39,075 | |||||||||||||||
Over 10 years | 156,553 | 155,821 | 189,999 | 185,097 | |||||||||||||||
Total other agencies | 210,563 | 210,664 | 228,587 | 224,172 | |||||||||||||||
Total U.S. Government backed agencies | 3,371,924 | 3,375,121 | 3,827,644 | 3,752,739 | |||||||||||||||
Municipal securities: | |||||||||||||||||||
Under 1 year | --- | --- | --- | --- | |||||||||||||||
1-5 years | --- | --- | --- | --- | |||||||||||||||
6-10 years | --- | --- | --- | --- | |||||||||||||||
Over 10 years | 7,981 | 7,594 | 9,023 | 8,159 | |||||||||||||||
Total municipal securities | 7,981 | 7,594 | 9,023 | 8,159 | |||||||||||||||
Total held-to-maturity securities | $ | 3,379,905 | $ | 3,382,715 | $ | 3,836,667 | $ | 3,760,898 | |||||||||||
Amortized cost, gross unrealized gains and losses, and fair value by investment category | The following table provides amortized cost, gross unrealized gains and losses, and fair value by investment category at December 31, 2014 and 2013: | ||||||||||||||||||
Unrealized | |||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||
(dollar amounts in thousands) | Cost | Gains | Losses | Value | |||||||||||||||
31-Dec-14 | |||||||||||||||||||
Federal Agencies: | |||||||||||||||||||
Mortgage-backed securities | $ | 3,161,361 | $ | 24,832 | $ | -21,736 | $ | 3,164,457 | |||||||||||
Other agencies | 210,563 | 1,251 | -1,150 | 210,664 | |||||||||||||||
Total U.S. Government | |||||||||||||||||||
backed securities | 3,371,924 | 26,083 | -22,886 | 3,375,121 | |||||||||||||||
Municipal securities | 7,981 | --- | -387 | 7,594 | |||||||||||||||
Total held-to-maturity securities | $ | 3,379,905 | $ | 26,083 | $ | -23,273 | $ | 3,382,715 | |||||||||||
Unrealized | |||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||
(dollar amounts in thousands) | Cost | Gains | Losses | Value | |||||||||||||||
31-Dec-13 | |||||||||||||||||||
Federal Agencies: | |||||||||||||||||||
Mortgage-backed securities | $ | 3,599,057 | $ | 5,573 | $ | -76,063 | $ | 3,528,567 | |||||||||||
Other agencies | 228,587 | 776 | -5,191 | 224,172 | |||||||||||||||
Total U.S. Government | |||||||||||||||||||
backed securities | 3,827,644 | 6,349 | -81,254 | 3,752,739 | |||||||||||||||
Municipal securities | 9,023 | --- | -864 | 8,159 | |||||||||||||||
Total held-to-maturity securities | $ | 3,836,667 | $ | 6,349 | $ | -82,118 | $ | 3,760,898 | |||||||||||
Investment securities in an unrealized loss position | Less than 12 Months | Over 12 Months | Total | ||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||
(dollar amounts in thousands ) | Value | Losses | Value | Losses | Value | Losses | |||||||||||||
31-Dec-14 | |||||||||||||||||||
Federal Agencies: | |||||||||||||||||||
Mortgage-backed securities | $ | 707,934 | $ | -5,550 | $ | 622,026 | $ | -16,186 | $ | 1,329,960 | $ | -21,736 | |||||||
Other agencies | 36,956 | -198 | 71,731 | -952 | 108,687 | -1,150 | |||||||||||||
Total U.S. Government backed securities | 744,890 | -5,748 | 693,757 | -17,138 | 1,438,647 | -22,886 | |||||||||||||
Municipal securities | 7,594 | -387 | --- | --- | 7,594 | -387 | |||||||||||||
Total temporarily impaired securities | $ | 752,484 | $ | -6,135 | $ | 693,757 | $ | -17,138 | $ | 1,446,241 | $ | -23,273 | |||||||
Less than 12 Months | Over 12 Months | Total | |||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||
(dollar amounts in thousands ) | Value | Losses | Value | Losses | Value | Losses | |||||||||||||
31-Dec-13 | |||||||||||||||||||
Federal Agencies: | |||||||||||||||||||
Mortgage-backed securities | $ | 2,849,198 | $ | -73,711 | $ | 22,548 | $ | -2,352 | $ | 2,871,746 | $ | -76,063 | |||||||
Other agencies | 144,417 | -5,191 | --- | --- | 144,417 | -5,191 | |||||||||||||
Total U.S. Government backed securities | 2,993,615 | -78,902 | 22,548 | -2,352 | 3,016,163 | -81,254 | |||||||||||||
Municipal securities | 8,159 | -864 | --- | --- | 8,159 | -864 | |||||||||||||
Total temporarily impaired securities | $ | 3,001,774 | $ | -79,766 | $ | 22,548 | $ | -2,352 | $ | 3,024,322 | $ | -82,118 | |||||||
Loans_sales_and_securitization
Loans sales and securitizations (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Loan Sales and Securitizations [Abstract] | |||||||||||||||||||
Summarizes activity relating to loans securitized sold with servicing retained | Residential Mortgage Portfolio | ||||||||||||||||||
The following table summarizes activity relating to residential mortgage loans sold with servicing retained for the years ended December 31, 2014, 2013, and 2012: | |||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | ||||||||||||||||
Residential mortgage loans sold with servicing retained | $ | 2,330,060 | $ | 3,221,239 | $ | 3,954,762 | |||||||||||||
Pretax gains resulting from above loan sales (1) | 57,590 | 102,935 | 128,408 | ||||||||||||||||
-1 | Recorded in mortgage banking income. | ||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||
(dollar amounts in thousands) | 2014 (1) | 2013 (1) | 2012 | ||||||||||||||||
Automobile loans sold with servicing retained | $ | --- | $ | --- | $ | 169,324 | |||||||||||||
Automobile loans securitized with servicing retained | --- | --- | 2,300,018 | ||||||||||||||||
Pretax gains (2) | --- | --- | 42,251 | ||||||||||||||||
-1 | Huntington did not sell or securitize any automobile loans in 2014 or 2013. | ||||||||||||||||||
-2 | Recorded in noninterest income | ||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | ||||||||||||||||
SBA loans sold with servicing retained | $ | 214,760 | $ | 178,874 | $ | 209,540 | |||||||||||||
Pretax gains resulting from above loan sales (1) | 24,579 | 19,556 | 22,916 | ||||||||||||||||
-1 | Recorded in noninterest income | ||||||||||||||||||
Summarizes activity relating to loans sold with servicing retained using the fair value method | Fair Value Method | ||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | |||||||||||||||||
Fair value, beginning of year | $ | 34,236 | $ | 35,202 | |||||||||||||||
Change in fair value during the period due to: | |||||||||||||||||||
Time decay (1) | -2,232 | -2,648 | |||||||||||||||||
Payoffs (2) | -5,814 | -11,851 | |||||||||||||||||
Changes in valuation inputs or assumptions (3) | -3,404 | 13,533 | |||||||||||||||||
Fair value, end of year | $ | 22,786 | $ | 34,236 | |||||||||||||||
Weighted-average life (years) | 4.6 | 4.2 | |||||||||||||||||
-1 | Represents decrease in value due to passage of time, including the impact from both regularly scheduled loan principal payments and partial loan paydowns. | ||||||||||||||||||
-2 | Represents decrease in value associated with loans that paid off during the period. | ||||||||||||||||||
-3 | Represents change in value resulting primarily from market-driven changes in interest rates and prepayment speeds. | ||||||||||||||||||
Summarizes activity relating to loans sold with servicing retained using the amortization method | |||||||||||||||||||
Amortization Method | |||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | |||||||||||||||||
Carrying value, beginning of year | $ | 128,064 | $ | 85,545 | |||||||||||||||
New servicing assets created | 24,629 | 34,743 | |||||||||||||||||
Servicing assets acquired | 3,505 | --- | |||||||||||||||||
Impairment recovery (charge) | -7,330 | 22,023 | |||||||||||||||||
Amortization and other | -16,056 | -14,247 | |||||||||||||||||
Carrying value, end of year | $ | 132,812 | $ | 128,064 | |||||||||||||||
Fair value, end of year | $ | 133,049 | $ | 143,304 | |||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | |||||||||||||||||
Carrying value, beginning of year | $ | 17,672 | $ | 35,606 | |||||||||||||||
New servicing assets created | --- | --- | |||||||||||||||||
Amortization and other | -10,774 | -17,934 | |||||||||||||||||
Carrying value, end of year | $ | 6,898 | $ | 17,672 | |||||||||||||||
Fair value, end of year | $ | 6,948 | $ | 18,193 | |||||||||||||||
Weighted-average life (years) | 2.6 | 3.6 | |||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | |||||||||||||||||
Carrying value, beginning of year | $ | 16,865 | $ | 15,147 | |||||||||||||||
New servicing assets created | 7,269 | 6,105 | |||||||||||||||||
Amortization and other | -5,598 | -4,387 | |||||||||||||||||
Carrying value, end of year | $ | 18,536 | $ | 16,865 | |||||||||||||||
Fair value, end of year | $ | 20,495 | $ | 16,865 | |||||||||||||||
Weighted-average life (years) | 3.5 | 3.5 | |||||||||||||||||
Summary of key assumptions and the sensitivity of the servicing rights value to changes in the assumptions | For MSRs under the fair value method, a summary of key assumptions and the sensitivity of the MSR value to changes in these assumptions at December 31, 2014, and 2013 follows: | ||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||
Decline in fair value due to | Decline in fair value due to | ||||||||||||||||||
10% | 20% | 10% | 20% | ||||||||||||||||
adverse | adverse | adverse | adverse | ||||||||||||||||
(dollar amounts in thousands) | Actual | change | change | Actual | change | change | |||||||||||||
Constant prepayment rate (annualized) | 15.6 | % | $ | -1,176 | $ | -2,248 | 11.9 | % | $ | -1,935 | $ | -3,816 | |||||||
Spread over forward interest rate swap rates | 546 | bps | -699 | -1,355 | 1,069 | bps | -1,376 | -2,753 | |||||||||||
For MSRs under the amortization method, a summary of key assumptions and the sensitivity of the MSR value to changes in these assumptions at December 31, 2014 and 2013 follows: | |||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||
Decline in fair value due to | Decline in fair value due to | ||||||||||||||||||
10% | 20% | 10% | 20% | ||||||||||||||||
adverse | adverse | adverse | adverse | ||||||||||||||||
(dollar amounts in thousands) | Actual | change | change | Actual | change | change | |||||||||||||
Constant prepayment rate (annualized) | 11.4 | % | $ | -5,289 | $ | -10,164 | 6.7 | % | $ | -6,813 | $ | -12,977 | |||||||
Spread over forward interest rate swap rates | 856 | bps | -4,343 | -8,403 | 940 | bps | -6,027 | -12,054 | |||||||||||
A summary of key assumptions and the sensitivity of the automobile loan servicing rights value to changes in these assumptions at December 31, 2014 and 2013 follows: | |||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||
Decline in fair value due to | Decline in fair value due to | ||||||||||||||||||
10% | 20% | 10% | 20% | ||||||||||||||||
adverse | adverse | adverse | adverse | ||||||||||||||||
(dollar amounts in thousands) | Actual | change | change | Actual | change | change | |||||||||||||
Constant prepayment rate (annualized) | 14.62 | % | $ | -305 | $ | -496 | 14.65 | % | $ | -584 | $ | -1,183 | |||||||
Spread over forward interest rate swap rates | 500 | bps | -2 | -4 | 500 | bps | -7 | -15 | |||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||
Decline in fair value due to | Decline in fair value due to | ||||||||||||||||||
10% | 20% | 10% | 20% | ||||||||||||||||
adverse | adverse | adverse | adverse | ||||||||||||||||
(dollar amounts in thousands) | Actual | change | change | Actual | change | change | |||||||||||||
Constant prepayment rate (annualized) | 5.6 | % | $ | -211 | $ | -419 | 5.9 | % | $ | -221 | $ | -438 | |||||||
Discount rate | 1,500 | bps | -563 | -1,102 | 1,500 | bps | -446 | -873 |
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Goodwill and Other Intangible Assets [Abstract] | ||||||||||||||||
Goodwill by business segment | A rollforward of goodwill by business segment for the years ended December 31, 2014 and 2013, is presented in the table below: | |||||||||||||||
Retail & | ||||||||||||||||
Business | Commercial | Home | Treasury/ | Huntington | ||||||||||||
(dollar amounts in thousands) | Banking | Banking | AFCRE | RBHPCG | Lending | Other | Consolidated | |||||||||
Balance, January 1, 2013 | $ | 286,824 | $ | 22,108 | $ | --- | $ | 93,012 | $ | --- | $ | 42,324 | $ | 444,268 | ||
Adjustments / Reallocation | --- | --- | --- | --- | --- | --- | --- | |||||||||
Balance, December 31, 2013 | 286,824 | 22,108 | --- | 93,012 | --- | 42,324 | 444,268 | |||||||||
Goodwill acquired during the period | 81,273 | --- | --- | --- | --- | --- | 81,273 | |||||||||
Adjustments / Reallocation | --- | 37,486 | --- | -3,000 | 3,000 | -37,486 | --- | |||||||||
Impairment | --- | --- | --- | --- | -3,000 | --- | -3,000 | |||||||||
Balance, December 31, 2014 | $ | 368,097 | $ | 59,594 | $ | --- | $ | 90,012 | $ | --- | $ | 4,838 | $ | 522,541 | ||
Summary of other intangible assets | During the 2014 third quarter, we moved our insurance brokerage business from Treasury / Other to Commercial Banking to align with a change in management responsibilities. Amounts relating to the realignment are disclosed in the table above. | |||||||||||||||
At December 31, 2014 and 2013, Huntington’s other intangible assets consisted of the following: | ||||||||||||||||
Gross | Net | |||||||||||||||
Carrying | Accumulated | Carrying | ||||||||||||||
(dollar amounts in thousands) | Amount | Amortization | Value | |||||||||||||
31-Dec-14 | ||||||||||||||||
Core deposit intangible | $ | 400,058 | $ | -366,907 | $ | 33,151 | ||||||||||
Customer relationship | 107,920 | -66,534 | 41,386 | |||||||||||||
Other | 25,164 | -25,030 | 134 | |||||||||||||
Total other intangible assets | $ | 533,142 | $ | -458,471 | $ | 74,671 | ||||||||||
31-Dec-13 | ||||||||||||||||
Core deposit intangible | $ | 380,249 | $ | -335,552 | $ | 44,697 | ||||||||||
Customer relationship | 106,974 | -58,675 | 48,299 | |||||||||||||
Other | 25,164 | -24,967 | 197 | |||||||||||||
Total other intangible assets | $ | 512,387 | $ | -419,194 | $ | 93,193 | ||||||||||
Estimated amortization expense of other intangible assets | The estimated amortization expense of other intangible assets for the next five years is as follows: | |||||||||||||||
Amortization | ||||||||||||||||
(dollar amounts in thousands) | Expense | |||||||||||||||
2015 | $ | 26,329 | ||||||||||||||
2016 | 12,485 | |||||||||||||||
2017 | 11,371 | |||||||||||||||
2018 | 9,890 | |||||||||||||||
2019 | 8,873 |
Premises_and_Equipment_Tables
Premises and Equipment (Tables) | 12 Months Ended | ||||||
Dec. 31, 2014 | |||||||
Property, Plant and Equipment [Abstract] | |||||||
Property, Plant and Equipment [Table Text Block] | At December 31, | ||||||
(dollar amounts in thousands) | 2014 | 2013 | |||||
Land and land improvements | $ | 137,702 | $ | 129,543 | |||
Buildings | 367,225 | 356,555 | |||||
Leasehold improvements | 235,279 | 227,764 | |||||
Equipment | 627,307 | 669,482 | |||||
Total premises and equipment | 1,367,513 | 1,383,344 | |||||
Less accumulated depreciation and amortization | -751,106 | -748,687 | |||||
Net premises and equipment | $ | 616,407 | $ | 634,657 | |||
Depreciation And Amoritzation Charged to Expenase and Rental Income Credited To Net Occupancy Expense [Table Text Block] | (dollar amounts in thousands) | 2014 | 2013 | 2012 | |||
Total depreciation and amortization of premises and equipment | $ | 82,296 | $ | 78,601 | $ | 76,170 | |
Rental income credited to occupancy expense | 11,556 | 12,542 | 11,519 |
Short_Term_Borrowings_Tables
Short Term Borrowings (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Short-term Debt [Abstract] | ||||||||||||
Schedule of Short-term Debt [Table Text Block] | Short-term borrowings at December 31, 2014 and 2013 were comprised of the following: | |||||||||||
At December 31, | ||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||||||
Federal funds purchased and securities sold under agreements to repurchase | $ | 1,058,096 | $ | 548,605 | ||||||||
Federal Home Loan Bank advances | 1,325,000 | 1,800,000 | ||||||||||
Other borrowings | 14,005 | 3,538 | ||||||||||
Total short-term borrowings | $ | 2,397,101 | $ | 2,352,143 | ||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | |||||||||
Weighted average interest rate at year-end | ||||||||||||
Federal Funds purchased and securities sold under agreements to repurchase | 0.08 | % | 0.06 | % | 0.15 | % | ||||||
Federal Home Loan Bank advances | 0.14 | 0.02 | 0.03 | |||||||||
Other short-term borrowings | 1.11 | 2.59 | 1.98 | |||||||||
Maximum amount outstanding at month-end during the year | ||||||||||||
Federal Funds purchased and securities sold under agreements to repurchase | $ | 1,491,350 | $ | 787,127 | $ | 1,590,082 | ||||||
Federal Home Loan Bank advances | 2,375,000 | 1,800,000 | 1,000,000 | |||||||||
Other short-term borrowings | 56,124 | 19,497 | 26,071 | |||||||||
Average amount outstanding during the year | ||||||||||||
Federal Funds purchased and securities sold under agreements to repurchase | $ | 987,156 | $ | 692,481 | $ | 1,293,348 | ||||||
Federal Home Loan Bank advances | 1,753,045 | 702,262 | 286,530 | |||||||||
Other short-term borrowings | 20,797 | 7,815 | 16,983 | |||||||||
Weighted average interest rate during the year | ||||||||||||
Federal Funds purchased and securities sold under agreements to repurchase | 0.07 | % | 0.08 | % | 0.14 | % | ||||||
Federal Home Loan Bank advances | 0.06 | 0.04 | 0.17 | |||||||||
Other short-term borrowings | 1.63 | 1.79 | 1.36 |
Other_Longterm_Debt_Tables
Other Long-term Debt (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Long Term Debt Tables [Abstract] | ||||||||||||||||
Other Long-term Debt [Table Text Block] | At December 31, | |||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||||||||||
The Parent Company: | ||||||||||||||||
Senior Notes: | ||||||||||||||||
2.64% Huntington Bancshares Incorporated senior note due 2018 | $ | 398,924 | $ | 397,306 | ||||||||||||
Subordinated Notes: | ||||||||||||||||
Fixed 7.00% subordinated notes due 2020 | 330,105 | 323,856 | ||||||||||||||
Huntington Capital I Trust Preferred 0.93% junior subordinated debentures due 2027 (1) | 111,816 | 111,816 | ||||||||||||||
Huntington Capital II Trust Preferred 0.87% junior subordinated debentures due 2028 (2) | 54,593 | 54,593 | ||||||||||||||
Sky Financial Capital Trust III 1.66% junior subordinated debentures due 2036 (3) | 72,165 | 72,165 | ||||||||||||||
Sky Financial Capital Trust IV 1.64% junior subordinated debentures due 2036 (3) | 74,320 | 74,320 | ||||||||||||||
Camco Statutory Trust I 2.71% due 2037 (4) | 4,181 | --- | ||||||||||||||
Total notes issued by the parent | 1,046,104 | 1,034,056 | ||||||||||||||
The Bank: | ||||||||||||||||
Senior Notes: | ||||||||||||||||
1.31% Huntington National Bank senior note due 2016 | 497,477 | 497,317 | ||||||||||||||
1.40% Huntington National Bank senior note due 2016 | 349,499 | 349,858 | ||||||||||||||
5.04% Huntington National Bank medium-term notes due 2018 | 38,541 | 39,497 | ||||||||||||||
1.43% Huntington National Bank senior note due 2019 | 499,760 | --- | ||||||||||||||
2.23% Huntington National Bank senior note due 2017 | 499,759 | --- | ||||||||||||||
0.66% Huntington National Bank senior note due 2017 (5) | 250,000 | --- | ||||||||||||||
Subordinated Notes: | ||||||||||||||||
5.00% subordinated notes due 2014 | --- | 125,109 | ||||||||||||||
5.59% subordinated notes due 2016 | 105,731 | 108,038 | ||||||||||||||
6.67% subordinated notes due 2018 | 140,115 | 143,749 | ||||||||||||||
5.45% subordinated notes due 2019 | 85,783 | 87,214 | ||||||||||||||
Total notes issued by the bank | 2,466,665 | 1,350,782 | ||||||||||||||
FHLB Advances: | ||||||||||||||||
0.21% weighted average rate, varying maturities greater than one year | 758,052 | 8,293 | ||||||||||||||
Other: | ||||||||||||||||
Other | 65,141 | 65,141 | ||||||||||||||
Total long-term debt | $ | 4,335,962 | $ | 2,458,272 | ||||||||||||
(1) Variable effective rate at December 31, 2014, based on three month LIBOR + 0.70%. | ||||||||||||||||
(2) Variable effective rate at December 31, 2014, based on three month LIBOR + 0.625%. | ||||||||||||||||
(3) Variable effective rate at December 31, 2014, based on three month LIBOR + 1.40%. | ||||||||||||||||
(4) Variable effective rate at December 31, 2014, based on three month LIBOR + 1.33%. | ||||||||||||||||
(5) Variable effective rate at December 31, 2014, based on three month LIBOR + 0.425%. | ||||||||||||||||
Annual Maturities Of Long Term Debt [Table Text Block] | dollar amounts in thousands | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | ||||||||
The Parent Company: | ||||||||||||||||
Senior notes | $ | --- | $ | --- | $ | --- | $ | 400,000 | $ | --- | $ | --- | $ | 400,000 | ||
Subordinated notes | --- | --- | --- | --- | --- | 618,049 | 618,049 | |||||||||
The Bank: | ||||||||||||||||
Senior notes | --- | 850,000 | 750,000 | --- | 500,000 | 35,000 | 2,135,000 | |||||||||
Subordinated notes | --- | 103,009 | --- | 125,539 | 75,716 | --- | 304,264 | |||||||||
FHLB Advances | --- | 750,000 | 100 | 1,205 | 369 | 6,596 | 758,270 | |||||||||
Other | 141 | --- | --- | --- | --- | 65,000 | 65,141 | |||||||||
Total | $ | 141 | $ | 1,703,009 | $ | 750,100 | $ | 526,744 | $ | 576,085 | $ | 724,645 | $ | 4,280,724 |
Other_Comprehensive_Income_Tab
Other Comprehensive Income (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Other Comprehensive Income [Abstract] | |||||||||||||||
Components of other comprehensive income | 2014 | ||||||||||||||
Tax (expense) | |||||||||||||||
(dollar amounts in thousands) | Pretax | Benefit | After-tax | ||||||||||||
Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold | $ | 13,583 | $ | -4,803 | $ | 8,780 | |||||||||
Unrealized holding gains (losses) on available-for-sale debt securities arising during the period | 86,618 | -30,914 | 55,704 | ||||||||||||
Less: Reclassification adjustment for net gains (losses) included in net income | -15,559 | 5,446 | -10,113 | ||||||||||||
Net change in unrealized holding gains (losses) on available-for-sale debt securities | 84,642 | -30,271 | 54,371 | ||||||||||||
Net change in unrealized holding gains (losses) on available-for-sale equity securities | 295 | -103 | 192 | ||||||||||||
Unrealized gains and losses on derivatives used in cash flow hedging relationships arising during the period | 14,141 | -4,949 | 9,192 | ||||||||||||
Less: Reclassification adjustment for net losses (gains) included in net income | -3,971 | 1,390 | -2,581 | ||||||||||||
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships | 10,170 | -3,559 | 6,611 | ||||||||||||
Change in pension and post-retirement obligations | -106,857 | 37,400 | -69,457 | ||||||||||||
Total other comprehensive income (loss) | $ | -11,750 | $ | 3,467 | $ | -8,283 | |||||||||
2013 | |||||||||||||||
Tax (expense) | |||||||||||||||
(dollar amounts in thousands) | Pretax | Benefit | After-tax | ||||||||||||
Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold | $ | 235 | $ | -82 | $ | 153 | |||||||||
Unrealized holding gains (losses) on available-for-sale debt securities arising during the period | -125,919 | 44,191 | -81,728 | ||||||||||||
Less: Reclassification adjustment for net gains (losses) included in net income | 6,211 | -2,174 | 4,037 | ||||||||||||
Net change in unrealized holding gains (losses) on available-for-sale debt securities | -119,473 | 41,935 | -77,538 | ||||||||||||
Net change in unrealized holding gains (losses) on available-for-sale equity securities | 151 | -53 | 98 | ||||||||||||
Unrealized gains and losses on derivatives used in cash flow hedging relationships arising during the period | -86,240 | 30,184 | -56,056 | ||||||||||||
Less: Reclassification adjustment for net (gains) losses included in net income | -15,188 | 5,316 | -9,872 | ||||||||||||
Net change in unrealized (losses) gains on derivatives used in cash flow hedging relationships | -101,428 | 35,500 | -65,928 | ||||||||||||
Re-measurement obligation | 136,452 | -47,758 | 88,694 | ||||||||||||
Defined benefit pension items | -13,106 | 4,588 | -8,518 | ||||||||||||
Net change in pension and post-retirement obligations | 123,346 | -43,170 | 80,176 | ||||||||||||
Total other comprehensive income (loss) | $ | -97,404 | $ | 34,212 | $ | -63,192 | |||||||||
2012 | |||||||||||||||
Tax (expense) | |||||||||||||||
(dollar amounts in thousands) | Pretax | Benefit | After-tax | ||||||||||||
Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold | $ | 19,215 | $ | -6,725 | $ | 12,490 | |||||||||
Unrealized holding gains (losses) on available-for-sale debt securities arising during the period | 90,318 | -32,137 | 58,181 | ||||||||||||
Less: Reclassification adjustment for net gains (losses) included in net income | -4,769 | 1,669 | -3,100 | ||||||||||||
Net change in unrealized holding gains (losses) on available-for-sale debt securities | 104,764 | -37,193 | 67,571 | ||||||||||||
Net change in unrealized holding gains (losses) on available-for-sale equity securities | 344 | -120 | 224 | ||||||||||||
Unrealized gains and losses on derivatives used in cash flow hedging relationships arising during the period | -5,476 | 1,907 | -3,569 | ||||||||||||
Less: Reclassification adjustment for net losses (gains) losses included in net income | 14,992 | -5,237 | 9,755 | ||||||||||||
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships | 9,516 | -3,330 | 6,186 | ||||||||||||
Net actuarial gains (losses) arising during the year | -105,527 | 36,934 | -68,593 | ||||||||||||
Amortization of net actuarial loss and prior service cost included in income | 27,013 | -9,455 | 17,558 | ||||||||||||
Net change in pension and post-retirement obligations | -78,514 | 27,479 | -51,035 | ||||||||||||
Total other comprehensive income (loss) | $ | 36,110 | $ | -13,164 | $ | 22,946 | |||||||||
Activity in accumulated other comprehensive income, net of tax | Activity in accumulated OCI for the three years ended December 31, were as follows: | ||||||||||||||
(dollar amounts in thousands) | Unrealized gains and (losses) on debt securities (1) | Unrealized gains and (losses) on equity securities | Unrealized gains and (losses) on cash flow hedging derivatives | Unrealized gains (losses) for pension and other post-retirement obligations | Total | ||||||||||
Balance, December 31, 2012 | 38,304 | 194 | 47,084 | -236,399 | -150,817 | ||||||||||
Other comprehensive income before reclassifications | -81,575 | 98 | -56,056 | 88,694 | -48,839 | ||||||||||
Amounts reclassified from accumulated OCI to earnings | 4,037 | --- | -9,872 | -8,518 | -14,353 | ||||||||||
Period change | -77,538 | 98 | -65,928 | 80,176 | -63,192 | ||||||||||
Balance, December 31, 2013 | -39,234 | 292 | -18,844 | -156,223 | -214,009 | ||||||||||
Other comprehensive income before reclassifications | 64,484 | 192 | 9,192 | --- | 73,868 | ||||||||||
Amounts reclassified from accumulated OCI to earnings | -10,113 | --- | -2,581 | -69,457 | -82,151 | ||||||||||
Period change | 54,371 | 192 | 6,611 | -69,457 | -8,283 | ||||||||||
Balance, December 31, 2014 | $ | 15,137 | $ | 484 | $ | -12,233 | $ | -225,680 | $ | -222,292 | |||||
(1) Amount at December 31, 2014 includes $0.8 million of net unrealized gains on securities transferred from the available-for-sale securities portfolio to the held-to-maturity securities portfolio in prior years. The net unrealized gains will be recognized in earnings over the remaining life of the security using the effective interest method. | |||||||||||||||
Reclassification Out Of Accumulated OCI | Reclassifications out of accumulated OCI | ||||||||||||||
Amounts reclassed | Location of net gain (loss) | ||||||||||||||
Accumulated OCI components | from accumulated OCI | reclassified from accumulated OCI into earnings | |||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | |||||||||||||
Gains (losses) on debt securities: | |||||||||||||||
Amortization of unrealized gains (losses) | $ | 597 | $ | 482 | Interest income - held-to-maturity securities - taxable | ||||||||||
Realized gain (loss) on sale of securities | 14,962 | -4,891 | Noninterest income - net gains (losses) on sale of securities | ||||||||||||
OTTI recorded | --- | -1,802 | Noninterest income - net gains (losses) on sale of securities | ||||||||||||
15,559 | -6,211 | Total before tax | |||||||||||||
-5,446 | 2,174 | Tax (expense) benefit | |||||||||||||
$ | 10,113 | $ | -4,037 | Net of tax | |||||||||||
Gains (losses) on cash flow hedging relationships: | |||||||||||||||
Interest rate contracts | $ | 4,064 | $ | 14,979 | Interest and fee income - loans and leases | ||||||||||
Interest rate contracts | --- | 209 | Interest and fee income - investment securities | ||||||||||||
Interest rate contracts | -93 | --- | Noninterest expense - other income | ||||||||||||
3,971 | 15,188 | Total before tax | |||||||||||||
-1,390 | -5,316 | Tax (expense) benefit | |||||||||||||
$ | 2,581 | $ | 9,872 | Net of tax | |||||||||||
Amortization of defined benefit pension and post-retirement items: | |||||||||||||||
Actuarial gains (losses) | $ | 106,857 | $ | -22,293 | Noninterest expense - personnel costs | ||||||||||
Prior service costs | --- | 3,454 | Noninterest expense - personnel costs | ||||||||||||
Other | --- | -919 | Noninterest expense - personnel costs | ||||||||||||
Curtailment | --- | 32,864 | Noninterest expense - personnel costs | ||||||||||||
106,857 | 13,106 | Total before tax | |||||||||||||
-37,400 | -4,588 | Tax (expense) benefit | |||||||||||||
$ | 69,457 | $ | 8,518 | Net of tax |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Earnings Per Share [Abstract] | ||||||||||
Basic and diluted earnings loss per share | The calculation of basic and diluted earnings per share for each of the three years ended December 31 was as follows: | |||||||||
Year ended December 31, | ||||||||||
(dollar amounts in thousands, except per share amounts) | 2014 | 2013 | 2012 | |||||||
Basic earnings per common share: | ||||||||||
Net income | $ | 632,392 | $ | 641,282 | $ | 631,290 | ||||
Preferred stock dividends, deemed dividends and accretion of discount | -31,854 | -31,869 | -31,989 | |||||||
Net income available to common shareholders | $ | 600,538 | $ | 609,413 | $ | 599,301 | ||||
Average common shares issued and outstanding | 819,917 | 834,205 | 857,962 | |||||||
Basic earnings per common share | $ | 0.73 | $ | 0.73 | $ | 0.7 | ||||
Diluted earnings per common share | ||||||||||
Net income available to common shareholders | $ | 600,538 | $ | 609,413 | $ | 599,301 | ||||
Effect of assumed preferred stock conversion | --- | --- | --- | |||||||
Net income applicable to diluted earnings per share | $ | 600,538 | $ | 609,413 | $ | 599,301 | ||||
Average common shares issued and outstanding | 819,917 | 834,205 | 857,962 | |||||||
Dilutive potential common shares: | ||||||||||
Stock options and restricted stock units and awards | 11,421 | 8,418 | 4,202 | |||||||
Shares held in deferred compensation plans | 1,420 | 1,351 | 1,238 | |||||||
Other | 323 | --- | --- | |||||||
Dilutive potential common shares: | 13,164 | 9,769 | 5,440 | |||||||
Total diluted average common shares issued and outstanding | 833,081 | 843,974 | 863,402 | |||||||
Diluted earnings per common share | $ | 0.72 | $ | 0.72 | $ | 0.69 |
Share_Based_Compensation_Table
Share Based Compensation (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Share-Based Compensation [Abstract] | ||||||||||||||||
Weighted average assumptions used in the option pricing model | The following table illustrates the weighted average assumptions used in the option-pricing model for options granted in the three years ended December 31, 2014, 2013, and 2012: | |||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Assumptions | ||||||||||||||||
Risk-free interest rate | 1.69 | % | 0.79 | % | 1.1 | % | ||||||||||
Expected dividend yield | 2.61 | 2.83 | 2.38 | |||||||||||||
Expected volatility of Huntington's common stock | 32.3 | 35 | 34.9 | |||||||||||||
Expected option term (years) | 5 | 5.5 | 6 | |||||||||||||
Weighted-average grant date fair value per share | $ | 2.13 | $ | 1.71 | $ | 1.78 | ||||||||||
Share based compensation expense and related tax benefit | The following table illustrates total share-based compensation expense and related tax benefit for the three years ended December 31, 2014, 2013, and 2012: | |||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | |||||||||||||
Share-based compensation expense | $ | 43,666 | $ | 37,007 | $ | 27,873 | ||||||||||
Tax benefit | 14,779 | 12,472 | 9,298 | |||||||||||||
Stock option activity and related information | Huntington’s stock option activity and related information for the year ended December 31, 2014, was as follows: | |||||||||||||||
Weighted- | ||||||||||||||||
Weighted- | Average | |||||||||||||||
Average | Remaining | Aggregate | ||||||||||||||
Exercise | Contractual | Intrinsic | ||||||||||||||
(amounts in thousands, except years and per share amounts) | Options | Price | Life (Years) | Value | ||||||||||||
Outstanding at January 1, 2014 | 23,300 | $ | 7.61 | |||||||||||||
Granted | 1,807 | 9.22 | ||||||||||||||
Assumed | 214 | |||||||||||||||
Exercised | -3,528 | 6.02 | ||||||||||||||
Forfeited/expired | -2,174 | 17.2 | ||||||||||||||
Outstanding at December 31, 2014 | 19,619 | $ | 6.99 | 3.9 | $ | 75,794 | ||||||||||
Expected to vest at December 31, 2014 (1) | 4,950 | $ | 7.64 | 5.4 | $ | 14,272 | ||||||||||
Exercisable at December 31, 2014 | 14,193 | $ | 6.73 | 3.3 | $ | 60,311 | ||||||||||
(1) The number of options expected to vest includes an estimate of 476 thousand shares expected to be forfeited. | ||||||||||||||||
Summary of restricted stock units and restricted stock awards | Weighted- | Weighted- | Weighted- | |||||||||||||
Average | Average | Average | ||||||||||||||
Restricted | Grant Date | Restricted | Grant Date | Performance | Grant Date | |||||||||||
Stock | Fair Value | Stock | Fair Value | Share | Fair Value | |||||||||||
(amounts in thousands, except per share amounts) | Awards | Per Share | Units | Per Share | Awards | Per Share | ||||||||||
Nonvested at January 1, 2014 | --- | $ | --- | 12,064 | $ | 6.8 | 1,646 | $ | 6.95 | |||||||
Granted | --- | --- | 4,600 | 9.12 | 1,076 | 8.96 | ||||||||||
Assumed | 27 | --- | --- | --- | --- | --- | ||||||||||
Vested | -14 | 9.53 | -4,003 | 6.39 | --- | --- | ||||||||||
Forfeited | -1 | 9.53 | -757 | 7.54 | -143 | 7.26 | ||||||||||
Nonvested at December 31, 2014 | 12 | 9.53 | 11,904 | $ | 7.79 | 2,579 | $ | 7.76 | ||||||||
Summary of options by exercise price range | The following table presents additional information regarding options outstanding as of December 31, 2014 | |||||||||||||||
(amounts in thousands, except years and per share amounts) | Options Outstanding | Exercisable Options | ||||||||||||||
Weighted- | ||||||||||||||||
Average | Weighted- | Weighted- | ||||||||||||||
Remaining | Average | Average | ||||||||||||||
Range of | Contractual | Exercise | Exercise | |||||||||||||
Exercise Prices | Shares | Life (Years) | Price | Shares | Price | |||||||||||
$0 to $5.63 | 1,843 | 1.6 | $ | 4.64 | 1,836 | $ | 4.64 | |||||||||
$5.64 to $6.02 | 7,110 | 3.6 | 6.02 | 7,078 | 6.02 | |||||||||||
$6.03 to $15.95 | 10,087 | 4.7 | 7.26 | 4,700 | 6.78 | |||||||||||
$15.96 to $22.73 | 579 | 0.7 | 21.74 | 579 | 21.74 | |||||||||||
Total | 19,619 | 3.9 | $ | 6.99 | 14,193 | $ | 6.73 |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Income Tax Disclosure [Abstract] | ||||||||||
Reconcilement of gross unrecognized tax benefits | The following table provides a reconciliation of the beginning and ending amounts of gross unrecognized tax benefits: | |||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||||
Unrecognized tax benefits at beginning of year | $ | 704 | $ | 6,246 | ||||||
Gross increases for tax positions taken during prior years | 468 | --- | ||||||||
Gross decreases for tax positions taken during prior years | --- | -5,048 | ||||||||
Settlements with taxing authorities | --- | -494 | ||||||||
Unrecognized tax benefits at end of year | $ | 1,172 | $ | 704 | ||||||
Summary of provision (benefit) for income taxes | The following is a summary of the provision (benefit) for income taxes: | |||||||||
Year Ended December 31, | ||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | |||||||
Current tax provision (benefit) | ||||||||||
Federal | $ | 186,436 | $ | 117,174 | $ | 35,387 | ||||
State | -1,017 | 4,278 | 6,966 | |||||||
Total current tax provision (benefit) | 185,419 | 121,452 | 42,353 | |||||||
Deferred tax provision (benefit) | ||||||||||
Federal | 41,167 | 112,681 | 193,211 | |||||||
State | -5,993 | -6,659 | -33,273 | |||||||
Total deferred tax provision (benefit) | 35,174 | 106,022 | 159,938 | |||||||
Provision for income taxes | $ | 220,593 | $ | 227,474 | $ | 202,291 | ||||
Reconcilement of provision (benefit) for income taxes | The following is a reconcilement of provision for income taxes: | |||||||||
Year Ended December 31, | ||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | |||||||
Provision for income taxes computed at the statutory rate | $ | 298,545 | $ | 304,065 | $ | 291,753 | ||||
Increases (decreases): | ||||||||||
Tax-exempt income | -17,971 | -34,378 | -15,752 | |||||||
Tax-exempt bank owned life insurance income | -19,967 | -19,747 | -19,151 | |||||||
General business credits | -46,047 | -39,868 | -49,654 | |||||||
State deferred tax asset valuation allowance adjustment, net | -7,430 | -6,020 | -21,251 | |||||||
Capital loss | -26,948 | -961 | -18,659 | |||||||
Affordable housing investment amortization, net of tax benefits | 33,752 | 16,851 | 28,855 | |||||||
State income taxes, net | 2,873 | 4,472 | 4,152 | |||||||
Other | 3,786 | 3,060 | 1,998 | |||||||
Provision for income taxes | $ | 220,593 | $ | 227,474 | $ | 202,291 | ||||
Significant components of deferred tax assets and liabilities | The significant components of deferred tax assets and liabilities at December 31, were as follows: | |||||||||
At December 31, | ||||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||||
Deferred tax assets: | ||||||||||
Allowances for credit losses | $ | 233,656 | $ | 244,684 | ||||||
Net operating and other loss carryforward | 161,548 | 153,826 | ||||||||
Fair value adjustments | 119,512 | 115,874 | ||||||||
Accrued expense/prepaid | 48,656 | 39,636 | ||||||||
Tax credit carryforward | 30,825 | 50,137 | ||||||||
Partnership investments | 24,123 | 13,552 | ||||||||
Purchase accounting adjustments | 13,839 | 14,096 | ||||||||
Market discount | 12,215 | 20,671 | ||||||||
Other | 9,477 | 10,437 | ||||||||
Total deferred tax assets | 653,851 | 662,913 | ||||||||
Deferred tax liabilities: | ||||||||||
Lease financing | 202,298 | 146,814 | ||||||||
Loan origination costs | 103,025 | 82,345 | ||||||||
Operating assets | 50,266 | 46,524 | ||||||||
Mortgage servicing rights | 47,748 | 48,007 | ||||||||
Securities adjustments | 27,856 | 33,719 | ||||||||
Purchase accounting adjustments | 17,299 | 39,578 | ||||||||
Pension and other employee benefits | 9,677 | 12,608 | ||||||||
Other | 5,178 | 11,313 | ||||||||
Total deferred tax liabilities | 463,347 | 420,908 | ||||||||
Net deferred tax asset before valuation allowance | 190,504 | 242,005 | ||||||||
Valuation allowance | -73,057 | -111,435 | ||||||||
Net deferred tax asset | $ | 117,447 | $ | 130,570 | ||||||
Benefit_Plans_Tables
Benefit Plans (Tables) | 12 Months Ended | |||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||
Benefit Plans [Abstract] | ||||||||||||||||||
Schedule of Assumptions Used [Table Text Block] | The following table shows the weighted-average assumptions used to determine the benefit obligation at December 31, 2014 and 2013, and the net periodic benefit cost for the years then ended | |||||||||||||||||
Pension | Post-Retirement | |||||||||||||||||
Benefits | Benefits | |||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||
Weighted-average assumptions used to determine benefit obligations | ||||||||||||||||||
Discount rate | 4.12 | % | 4.89 | % | 3.72 | % | 4.27 | % | ||||||||||
Rate of compensation increase | N/A | N/A | N/A | N/A | ||||||||||||||
Weighted-average assumptions used to determine net periodic benefit cost | ||||||||||||||||||
Discount rate (1) (2) | 4.89 | 4.15 | 4.11 | 3.28 | ||||||||||||||
Expected return on plan assets | 7.25 | 7.63 | N/A | N/A | ||||||||||||||
Rate of compensation increase | N/A | 4.5 | N/A | N/A | ||||||||||||||
N/A - Not Applicable | ||||||||||||||||||
(1) The 2013 pension benefit expense was remeasured as of July 1, 2013. The discount rate was 3.83% from January 1, 2013 to July 1, 2013, | ||||||||||||||||||
and was changed to 4.47% for the period from July 1, 2013 to December 31, 2013. | ||||||||||||||||||
(2) The 2014 post-retirement benefit expense was remeasured as of July 31, 2014. The discount rate was 4.27% from January 1, 2014 to | ||||||||||||||||||
July 31, 2014, and was changed to 3.89% for the period from July 31, 2014 to December 31, 2014. | ||||||||||||||||||
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) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||
Projected benefit obligation at beginning of measurement year | $ | 684,999 | $ | 783,778 | $ | 25,669 | $ | 27,787 | ||||||||||
Changes due to: | ||||||||||||||||||
Service cost | 1,740 | 25,122 | --- | --- | ||||||||||||||
Interest cost | 32,398 | 30,112 | 856 | 862 | ||||||||||||||
Benefits paid | -16,221 | -14,886 | -3,401 | -3,170 | ||||||||||||||
Settlements | -27,045 | -19,363 | --- | --- | ||||||||||||||
Plan amendments | --- | -13,559 | -8,782 | --- | ||||||||||||||
Plan curtailments | --- | -7,875 | --- | --- | ||||||||||||||
Medicare subsidies | --- | --- | 462 | 564 | ||||||||||||||
Actuarial assumptions and gains and losses (1) | 123,723 | -98,330 | 1,159 | -374 | ||||||||||||||
Total changes | 114,595 | -98,779 | -9,706 | -2,118 | ||||||||||||||
Projected benefit obligation at end of measurement year | $ | 799,594 | $ | 684,999 | $ | 15,963 | $ | 25,669 | ||||||||||
(1) The 2014 actuarial assumptions include revised mortality tables. | ||||||||||||||||||
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, 2014 and 2013 measurement dates: | |||||||||||||||||
Pension | ||||||||||||||||||
Benefits | ||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||||||||||||
Fair value of plan assets at beginning of measurement year | $ | 649,020 | $ | 633,617 | ||||||||||||||
Changes due to: | ||||||||||||||||||
Actual return on plan assets | 44,312 | 49,652 | ||||||||||||||||
Settlements | -24,098 | -19,363 | ||||||||||||||||
Benefits paid | -16,221 | -14,886 | ||||||||||||||||
Total changes | 3,993 | 15,403 | ||||||||||||||||
Fair value of plan assets at end of measurement year | $ | 653,013 | $ | 649,020 | ||||||||||||||
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, 2014: | |||||||||||||||||
Pension Benefits | Post-Retirement Benefits | |||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||
Service cost | $ | 1,740 | $ | 25,122 | $ | 24,869 | $ | --- | $ | --- | $ | --- | ||||||
Interest cost | 32,398 | 30,112 | 29,215 | 856 | 862 | 1,350 | ||||||||||||
Expected return on plan assets | -45,783 | -47,716 | -45,730 | --- | --- | --- | ||||||||||||
Amortization of transition asset | --- | --- | -4 | --- | --- | --- | ||||||||||||
Amortization of prior service cost | --- | -2,883 | -5,767 | -1,609 | -1,353 | -1,353 | ||||||||||||
Amortization of loss | 5,767 | 23,044 | 26,956 | -571 | -600 | -332 | ||||||||||||
Curtailment | --- | -34,613 | --- | --- | --- | --- | ||||||||||||
Settlements | 11,200 | 8,116 | 5,405 | --- | --- | --- | ||||||||||||
Benefit costs | $ | 5,322 | $ | 1,182 | $ | 34,944 | $ | -1,324 | $ | -1,091 | $ | -335 | ||||||
Schedule of Allocation of Plan Assets [Table Text Block] | At December 31, 2014 and 2013, 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) | 2014 | 2013 | ||||||||||||||||
Cash equivalents: | ||||||||||||||||||
Huntington funds - money market | $ | 16,136 | 2 | % | $ | 803 | --- | % | ||||||||||
Fixed income: | ||||||||||||||||||
Huntington funds - fixed income funds | --- | --- | 74,048 | 11 | ||||||||||||||
Corporate obligations | 218,077 | 33 | 180,757 | 28 | ||||||||||||||
U.S. Government Obligations | 62,627 | 10 | 51,932 | 8 | ||||||||||||||
Mutual funds - fixed income | 34,761 | 5 | --- | --- | ||||||||||||||
U.S. Government Agencies | 7,445 | 1 | 6,146 | 1 | ||||||||||||||
Equities: | ||||||||||||||||||
Mutual funds - equities | 147,191 | 23 | --- | --- | ||||||||||||||
Other common stock | 118,970 | 18 | --- | --- | ||||||||||||||
Huntington common stock | --- | --- | 20,324 | 3 | ||||||||||||||
Huntington funds | 37,920 | 6 | 289,379 | 45 | ||||||||||||||
Exchange Traded Funds | 6,840 | 1 | 24,705 | 4 | ||||||||||||||
Limited Partnerships | 3,046 | 1 | 926 | --- | ||||||||||||||
Fair value of plan assets | $ | 653,013 | 100 | % | $ | 649,020 | 100 | % | ||||||||||
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) | 2014 | 2013 | ||||||||||||||||
Shares in Huntington common stock (1) | --- | 2,095,304 | ||||||||||||||||
Dividends received on shares of Huntington stock | $ | 267 | $ | 992 | ||||||||||||||
(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, 2014, the following table shows when benefit payments were expected to be paid: | |||||||||||||||||
Post- | ||||||||||||||||||
Pension | Retirement | |||||||||||||||||
(dollar amounts in thousands) | Benefits | Benefits | ||||||||||||||||
2015 | $ | 48,851 | $ | 1,419 | ||||||||||||||
2016 | 48,416 | 1,329 | ||||||||||||||||
2017 | 45,378 | 1,235 | ||||||||||||||||
2018 | 43,332 | 1,154 | ||||||||||||||||
2019 | 43,238 | 1,098 | ||||||||||||||||
2020 through 2024 | 209,153 | 4,997 | ||||||||||||||||
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, 2014 and 2013 for all of Huntington defined benefit plans | |||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||||||||||||
Accrued expenses and other liabilities | $ | 198,947 | $ | 90,842 | ||||||||||||||
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, 2014, 2013, and 2012, and the changes in accumulated OCI for the years ended December 31, 2014, 2013, and 2012: | |||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | |||||||||||||||
Net actuarial loss | $ | -240,197 | $ | -166,078 | $ | -262,187 | ||||||||||||
Prior service cost | 14,517 | 9,855 | 25,788 | |||||||||||||||
Defined benefit pension plans | $ | -225,680 | $ | -156,223 | $ | -236,399 | ||||||||||||
2014 | ||||||||||||||||||
(dollar amounts in thousands) | Pretax | Benefit | After-tax | |||||||||||||||
Balance, beginning of year | $ | -240,345 | $ | 84,122 | $ | -156,223 | ||||||||||||
Net actuarial (loss) gain: | ||||||||||||||||||
Amounts arising during the year | -133,085 | 46,580 | -86,505 | |||||||||||||||
Amortization included in net periodic benefit costs | 19,056 | -6,670 | 12,386 | |||||||||||||||
Prior service cost: | ||||||||||||||||||
Amounts arising during the year | 8,781 | -3,073 | 5,708 | |||||||||||||||
Amortization included in net periodic benefit costs | -1,609 | 563 | -1,046 | |||||||||||||||
Transition obligation: | ||||||||||||||||||
Amortization included in net periodic benefit costs | --- | --- | --- | |||||||||||||||
Balance, end of year | $ | -347,202 | $ | 121,522 | $ | -225,680 | ||||||||||||
2013 | ||||||||||||||||||
(dollar amounts in thousands) | Pretax | Benefit | After-tax | |||||||||||||||
Balance, beginning of year | $ | -363,691 | $ | 127,292 | $ | -236,399 | ||||||||||||
Net actuarial (loss) gain: | ||||||||||||||||||
Amounts arising during the year | 118,666 | -41,532 | 77,134 | |||||||||||||||
Amortization included in net periodic benefit costs | 29,194 | -10,218 | 18,976 | |||||||||||||||
Prior service cost: | ||||||||||||||||||
Amounts arising during the year | --- | --- | --- | |||||||||||||||
Amortization included in net periodic benefit costs | -24,514 | 8,580 | -15,934 | |||||||||||||||
Transition obligation: | ||||||||||||||||||
Amortization included in net periodic benefit costs | --- | --- | --- | |||||||||||||||
Balance, end of year | $ | -240,345 | $ | 84,122 | $ | -156,223 | ||||||||||||
2012 | ||||||||||||||||||
(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 | ||||||||||||
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: | |||||||||||||||||
December 31, | ||||||||||||||||||
(dollar amounts in thousands, except share amounts) | 2014 | 2013 | ||||||||||||||||
Shares in Huntington common stock | 12,883,333 | 13,624,429 | ||||||||||||||||
Market value of Huntington common stock | $ | 135,533 | $ | 131,476 | ||||||||||||||
Dividends received on shares of Huntington stock | 2,694 | 2,567 | ||||||||||||||||
Defined Contribution Plan Disclosures [Table Text Block] | The following table shows the costs of providing the defined contribution plan as of December 31: | |||||||||||||||||
Year ended December 31, | ||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | |||||||||||||||
Defined contribution plan | $ | 31,110 | $ | 18,238 | $ | 16,926 | ||||||||||||
Fair_Values_of_Assets_and_Liab1
Fair Values of Assets and Liabilities (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Fair Values of Assets and Liabilities [Abstract] | |||||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis | Assets and liabilities measured at fair value on a recurring basis at December 31, 2014 and 2013 are summarized below | ||||||||||||||||||
Fair Value Measurements at Reporting Date Using | Netting | Balance at | |||||||||||||||||
(dollar amounts in thousands) | Level 1 | Level 2 | Level 3 | Adjustments (1) | 31-Dec-14 | ||||||||||||||
Assets | |||||||||||||||||||
Loans held for sale | $ | --- | $ | 354,888 | $ | --- | $ | --- | $ | 354,888 | |||||||||
Loans held for investment | --- | 40,027 | --- | --- | 40,027 | ||||||||||||||
Trading account securities: | |||||||||||||||||||
Federal agencies: Mortgage-backed | --- | --- | --- | --- | --- | ||||||||||||||
Federal agencies: Other agencies | --- | 2,857 | --- | --- | 2,857 | ||||||||||||||
Municipal securities | --- | 5,098 | --- | --- | 5,098 | ||||||||||||||
Other securities | 33,121 | 1,115 | --- | --- | 34,236 | ||||||||||||||
33,121 | 9,070 | --- | --- | 42,191 | |||||||||||||||
Available-for-sale and other securities: | |||||||||||||||||||
U.S. Treasury securities | 5,452 | --- | --- | --- | 5,452 | ||||||||||||||
Federal agencies: Mortgage-backed | --- | 5,322,701 | --- | --- | 5,322,701 | ||||||||||||||
Federal agencies: Other agencies | --- | 351,543 | --- | --- | 351,543 | ||||||||||||||
Municipal securities | --- | 450,976 | 1,417,593 | --- | 1,868,569 | ||||||||||||||
Private-label CMO | --- | 11,462 | 30,464 | --- | 41,926 | ||||||||||||||
Asset-backed securities | --- | 873,260 | 82,738 | --- | 955,998 | ||||||||||||||
Corporate debt | --- | 486,176 | --- | --- | 486,176 | ||||||||||||||
Other securities | 17,430 | 3,316 | --- | --- | 20,746 | ||||||||||||||
22,882 | 7,499,434 | 1,530,795 | --- | 9,053,111 | |||||||||||||||
Automobile loans | --- | --- | 10,590 | --- | 10,590 | ||||||||||||||
MSRs | --- | --- | 22,786 | --- | 22,786 | ||||||||||||||
Derivative assets | --- | 449,775 | 4,064 | -101,197 | 352,642 | ||||||||||||||
Liabilities | |||||||||||||||||||
Derivative liabilities | --- | 335,524 | 704 | -51,973 | 284,255 | ||||||||||||||
Short-term borrowings | --- | 2,295 | --- | --- | 2,295 | ||||||||||||||
Fair Value Measurements at Reporting Date Using | Netting | Balance at | |||||||||||||||||
(dollar amounts in thousands) | Level 1 | Level 2 | Level 3 | Adjustments (1) | 31-Dec-13 | ||||||||||||||
Assets | |||||||||||||||||||
Mortgage loans held for sale | $ | --- | $ | 278,928 | $ | --- | $ | --- | $ | 278,928 | |||||||||
Trading account securities: | |||||||||||||||||||
Federal agencies: Mortgage-backed | --- | --- | --- | --- | --- | ||||||||||||||
Federal agencies: Other agencies | --- | 834 | --- | --- | 834 | ||||||||||||||
Municipal securities | --- | 2,180 | --- | --- | 2,180 | ||||||||||||||
Other securities | 32,081 | 478 | --- | --- | 32,559 | ||||||||||||||
32,081 | 3,492 | --- | --- | 35,573 | |||||||||||||||
Available-for-sale and other securities: | |||||||||||||||||||
U.S. Treasury securities | 51,604 | --- | --- | --- | 51,604 | ||||||||||||||
Federal agencies: Mortgage-backed (2) | --- | 3,566,221 | --- | --- | 3,566,221 | ||||||||||||||
Federal agencies: Other agencies | --- | 319,888 | --- | --- | 319,888 | ||||||||||||||
Municipal securities | --- | 491,455 | 654,537 | --- | 1,145,992 | ||||||||||||||
Private-label CMO | --- | 16,964 | 32,140 | --- | 49,104 | ||||||||||||||
Asset-backed securities | --- | 983,621 | 107,419 | --- | 1,091,040 | ||||||||||||||
Covered bonds | --- | 285,874 | --- | --- | 285,874 | ||||||||||||||
Corporate debt | --- | 457,240 | --- | --- | 457,240 | ||||||||||||||
Other securities | 16,971 | 3,828 | --- | --- | 20,799 | ||||||||||||||
68,575 | 6,125,091 | 794,096 | --- | 6,987,762 | |||||||||||||||
Automobile loans | --- | --- | 52,286 | --- | 52,286 | ||||||||||||||
MSRs | --- | --- | 34,236 | --- | 34,236 | ||||||||||||||
Derivative assets | 36,774 | 219,045 | 3,066 | -58,856 | 200,029 | ||||||||||||||
Liabilities | |||||||||||||||||||
Derivative liabilities | 22,787 | 124,123 | 676 | -18,312 | 129,274 | ||||||||||||||
Short-term borrowings | --- | 1,089 | --- | --- | 1,089 | ||||||||||||||
Rollforward of financial instruments measured on a recurring basis and classified as Level 3 | The tables below present a rollforward of the balance sheet amounts for the years ended December 31, 2014, 2013, and 2012 for financial instruments measured on a recurring basis and classified as Level 3. The classification of an item as Level 3 is based on the significance of the unobservable inputs to the overall fair value measurement. However, Level 3 measurements may also include observable components of value that can be validated externally. Accordingly, the gains and losses in the table below include changes in fair value due in part to observable factors that are part of the valuation methodology | ||||||||||||||||||
Level 3 Fair Value Measurements | |||||||||||||||||||
Year ended December 31, 2014 | |||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||
Asset- | |||||||||||||||||||
Derivative | Municipal | Private- | backed | Automobile | |||||||||||||||
(dollar amounts in thousands) | MSRs | instruments | securities | label CMO | securities | loans | |||||||||||||
Balance, beginning of year | $ | 34,236 | $ | 2,390 | $ | 654,537 | $ | 32,140 | $ | 107,419 | $ | 52,286 | |||||||
Total gains / losses: | |||||||||||||||||||
Included in earnings | -11,450 | 3,047 | --- | 36 | 226 | -918 | |||||||||||||
Included in OCI | --- | --- | 14,776 | 452 | 21,839 | --- | |||||||||||||
Purchases | --- | --- | 1,038,348 | --- | --- | --- | |||||||||||||
Sales | --- | --- | --- | --- | -22,870 | --- | |||||||||||||
Repayments | --- | --- | --- | --- | --- | -40,778 | |||||||||||||
Settlements | --- | -2,077 | -290,068 | -2,164 | -23,876 | --- | |||||||||||||
Balance, end of year | $ | 22,786 | $ | 3,360 | $ | 1,417,593 | $ | 30,464 | $ | 82,738 | $ | 10,590 | |||||||
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date | $ | -11,450 | $ | 3,047 | $ | 14,776 | $ | 452 | $ | 21,137 | $ | -1,624 | |||||||
Level 3 Fair Value Measurements | |||||||||||||||||||
Year ended December 31, 2013 | |||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||
Asset- | |||||||||||||||||||
Derivative | Municipal | Private | backed | Automobile | |||||||||||||||
(dollar amounts in thousands) | MSRs | instruments | securities | label CMO | securities | loans | |||||||||||||
Balance, beginning of year | $ | 35,202 | $ | 12,702 | $ | 61,228 | $ | 48,775 | $ | 110,037 | $ | 142,762 | |||||||
Total gains / losses: | |||||||||||||||||||
Included in earnings | -966 | -5,944 | 2,129 | -180 | -2,244 | -358 | |||||||||||||
Included in OCI | --- | --- | 9,075 | 1,703 | 35,139 | --- | |||||||||||||
Other (1) | --- | --- | 600,435 | --- | --- | --- | |||||||||||||
Sales | --- | --- | --- | -10,254 | -16,711 | --- | |||||||||||||
Repayments | --- | --- | --- | --- | --- | -90,118 | |||||||||||||
Settlements | --- | -4,368 | -18,330 | -7,904 | -18,802 | --- | |||||||||||||
Balance, end of year | $ | 34,236 | $ | 2,390 | $ | 654,537 | $ | 32,140 | $ | 107,419 | $ | 52,286 | |||||||
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date | $ | -966 | $ | -5,944 | $ | 9,075 | $ | 1,703 | $ | 35,139 | $ | -358 | |||||||
Level 3 Fair Value Measurements | |||||||||||||||||||
Year ended December 31, 2012 | |||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||
Asset- | |||||||||||||||||||
Derivative | Municipal | Private | backed | Automobile | |||||||||||||||
(dollar amounts in thousands) | MSRs | instruments | securities | label CMO | securities | loans | |||||||||||||
Balance, beginning of year | $ | 65,001 | $ | -169 | $ | 95,092 | $ | 72,364 | $ | 121,698 | $ | 296,250 | |||||||
Total gains / losses: | |||||||||||||||||||
Included in earnings | -29,799 | 10,617 | --- | -796 | -59 | -1,230 | |||||||||||||
Included in OCI | --- | --- | -1,637 | 8,245 | 23,138 | --- | |||||||||||||
Sales | --- | --- | -3,040 | -15,183 | -20,852 | --- | |||||||||||||
Repayments | --- | --- | --- | --- | --- | -152,258 | |||||||||||||
Settlements | --- | 2,254 | -29,187 | -15,855 | -13,888 | --- | |||||||||||||
Balance, end of year | $ | 35,202 | $ | 12,702 | $ | 61,228 | $ | 48,775 | $ | 110,037 | $ | 142,762 | |||||||
Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date | $ | -29,799 | $ | 5,818 | $ | -1,637 | $ | 8,245 | $ | 23,138 | $ | -1,230 | |||||||
(1) Effective December 31, 2013 approximately $600.4 million of direct purchase municipal instruments were reclassified from C&I loans to available-for-sale securities. | |||||||||||||||||||
Classification of gains and losses due to changes in fair value, recorded in earnings for Level 3 assets and liabilities | The tables below summarize the classification of gains and losses due to changes in fair value, recorded in earnings for Level 3 assets and liabilities for the years ended December 31, 2014, 2013, and 2012: | ||||||||||||||||||
Level 3 Fair Value Measurements | |||||||||||||||||||
Year ended December 31, 2014 | |||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||
Asset- | |||||||||||||||||||
Derivative | Municipal | Private | backed | Automobile | |||||||||||||||
(dollar amounts in thousands) | MSRs | instruments | securities | label CMO | securities | loans | |||||||||||||
Classification of gains and losses in earnings: | |||||||||||||||||||
Mortgage banking income (loss) | $ | -11,450 | $ | 3,047 | $ | --- | $ | --- | $ | --- | $ | --- | |||||||
Securities gains (losses) | --- | --- | --- | --- | 170 | --- | |||||||||||||
Interest and fee income | --- | --- | --- | 36 | 56 | -1,032 | |||||||||||||
Noninterest income | --- | --- | --- | --- | --- | 114 | |||||||||||||
Total | $ | -11,450 | $ | 3,047 | $ | --- | $ | 36 | $ | 226 | $ | -918 | |||||||
Level 3 Fair Value Measurements | |||||||||||||||||||
Year ended December 31, 2013 | |||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||
Asset- | |||||||||||||||||||
Derivative | Municipal | Private | backed | Automobile | |||||||||||||||
(dollar amounts in thousands) | MSRs | instruments | securities | label CMO | securities | loans | |||||||||||||
Classification of gains and losses in earnings: | |||||||||||||||||||
Mortgage banking income (loss) | $ | -966 | $ | -5,944 | $ | --- | $ | --- | $ | --- | $ | --- | |||||||
Securities gains (losses) | --- | --- | --- | -336 | -1,466 | --- | |||||||||||||
Interest and fee income | --- | --- | 2,129 | 156 | -778 | -3,569 | |||||||||||||
Noninterest income | --- | --- | --- | --- | --- | 3,211 | |||||||||||||
Total | $ | -966 | $ | -5,944 | $ | 2,129 | $ | -180 | $ | -2,244 | $ | -358 | |||||||
Level 3 Fair Value Measurements | |||||||||||||||||||
Year ended December 31, 2012 | |||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||
Asset- | |||||||||||||||||||
Derivative | Municipal | Private | backed | Automobile | |||||||||||||||
(dollar amounts in thousands) | MSRs | instruments | securities | label CMO | securities | loans | |||||||||||||
Classification of gains and losses in earnings: | |||||||||||||||||||
Mortgage banking income (loss) | $ | -29,799 | $ | 10,617 | $ | --- | $ | --- | $ | --- | $ | --- | |||||||
Securities gains (losses) | --- | --- | --- | -1,614 | --- | --- | |||||||||||||
Interest and fee income | --- | --- | --- | 818 | -59 | -6,950 | |||||||||||||
Noninterest income | --- | --- | --- | --- | --- | 5,720 | |||||||||||||
Total | $ | -29,799 | $ | 10,617 | $ | --- | $ | -796 | $ | -59 | $ | -1,230 | |||||||
Assets and liabilities under the fair value option | The following table presents the fair value and aggregate principal balance of certain assets and liabilities under the fair value option: | ||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||
Fair value | Aggregate | Fair value | Aggregate | ||||||||||||||||
carrying | unpaid | carrying | unpaid | ||||||||||||||||
(dollar amounts in thousands) | amount | principal | Difference | amount | principal | Difference | |||||||||||||
Assets | |||||||||||||||||||
Loans held for sale | $ | 354,888 | $ | 340,070 | $ | 14,818 | $ | 278,928 | $ | 276,945 | $ | 1,983 | |||||||
Loans held for investment | 40,027 | 40,938 | -911 | --- | --- | --- | |||||||||||||
Automobile loans | 10,590 | 10,022 | 568 | 52,286 | 50,800 | 1,486 | |||||||||||||
Net gains (losses) from fair value changes | |||||||||||||||||||
Year ended December 31, | |||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | ||||||||||||||||
Assets | |||||||||||||||||||
Mortgage loans held for sale | $ | -1,978 | $ | -12,711 | $ | 4,284 | |||||||||||||
Automobile loans | -918 | -360 | -1,231 | ||||||||||||||||
Liabilities | |||||||||||||||||||
Securitization trust notes payable | --- | --- | -2,023 | ||||||||||||||||
Gains (losses) included in fair value changes | |||||||||||||||||||
associated with instrument specific credit risk | |||||||||||||||||||
Year ended December 31, | |||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | ||||||||||||||||
Assets | |||||||||||||||||||
Automobile loans | $ | 911 | $ | 2,207 | $ | 2,749 | |||||||||||||
Assets measured at fair value on a nonrecurring basis | For the year ended December 31, 2014, assets measured at fair value on a nonrecurring basis were as follows: | ||||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||||
Quoted Prices | Significant | Significant | Total | ||||||||||||||||
In Active | Other | Other | Gains/(Losses) | ||||||||||||||||
Markets for | Observable | Unobservable | For the | ||||||||||||||||
Fair Value at | Identical Assets | Inputs | Inputs | Year Ended | |||||||||||||||
(dollar amounts in thousands) | December 31, | (Level 1) | (Level 2) | (Level 3) | December 31, | ||||||||||||||
2014 | |||||||||||||||||||
Impaired loans | $ | 52,911 | $ | --- | $ | --- | $ | 52,911 | $ | -53,660 | |||||||||
Other real estate owned | 35,039 | --- | --- | 35,039 | $ | -4,021 | |||||||||||||
Quantitative information about significant unobservable level 3 fair value measurement inputs | Quantitative Information about Level 3 Fair Value Measurements | ||||||||||||||||||
(dollar amounts in thousands) | Fair Value at | Valuation | Significant | Range | |||||||||||||||
31-Dec-14 | Technique | Unobservable Input | (Weighted Average) | ||||||||||||||||
MSRs | $ | 22,786 | Discounted cash flow | Constant prepayment rate (CPR) | 7% - 26% (16%) | ||||||||||||||
Spread over forward interest rate swap rates | 228 - 900 (546) | ||||||||||||||||||
Net costs to service | $21 - $79 ($40) | ||||||||||||||||||
Derivative assets | 4,064 | Consensus Pricing | Net market price | -5.09% - 17.46% (1.7%) | |||||||||||||||
Derivative liabilities | 704 | Estimated Pull thru % | 38% - 91% (75%) | ||||||||||||||||
Municipal securities | 1,417,593 | Discounted cash flow | Discount rate | 0.5% - 4.9% (2.5%) | |||||||||||||||
Private-label CMO | 30,464 | Discounted cash flow | Discount rate | 2.7% - 7.2% (6.0%) | |||||||||||||||
Constant prepayment rate (CPR) | 13.6% - 32.6% (20.7%) | ||||||||||||||||||
Probability of default | 0.1% - 4.0% (0.7%) | ||||||||||||||||||
Loss Severity | 0.0% - 64.0% (33.9%) | ||||||||||||||||||
Asset-backed securities | 82,738 | Discounted cash flow | Discount rate | 4.3% - 13.3% (7.3%) | |||||||||||||||
Cumulative prepayment rate | 0.0% - 100% (10.1%) | ||||||||||||||||||
Cumulative default | 1.9% - 100% (15.9%) | ||||||||||||||||||
Loss given default | 20% - 100% (94.4%) | ||||||||||||||||||
Cure given deferral | 0.0% - 75% (32.6%) | ||||||||||||||||||
Automobile loans | 10,590 | Discounted cash flow | Constant prepayment rate (CPR) | 154.20% | |||||||||||||||
Discount rate | 0.2% - 5.0% (2.3%) | ||||||||||||||||||
Life of pool cumulative losses | 2.10% | ||||||||||||||||||
Impaired loans | 52,911 | Appraisal value | NA | NA | |||||||||||||||
Other real estate owned | 35,039 | Appraisal value | NA | NA | |||||||||||||||
Carrying amounts and estimated fair values of financial instruments | 31-Dec-14 | 31-Dec-13 | |||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||||
(dollar amounts in thousands) | Amount | Value | Amount | Value | |||||||||||||||
Financial Assets: | |||||||||||||||||||
Cash and short-term assets | $ | 1,285,124 | $ | 1,285,124 | $ | 1,058,175 | $ | 1,058,175 | |||||||||||
Trading account securities | 42,191 | 42,191 | 35,573 | 35,573 | |||||||||||||||
Loans held for sale | 416,327 | 416,327 | 326,212 | 326,212 | |||||||||||||||
Available-for-sale and other securities | 9,384,670 | 9,384,670 | 7,308,753 | 7,308,753 | |||||||||||||||
Held-to-maturity securities | 3,379,905 | 3,382,715 | 3,836,667 | 3,760,898 | |||||||||||||||
Net loans and direct financing leases | 47,050,530 | 45,110,406 | 42,472,630 | 40,976,014 | |||||||||||||||
Derivatives | 352,642 | 352,642 | 200,029 | 200,029 | |||||||||||||||
Financial Liabilities: | |||||||||||||||||||
Deposits | 51,732,151 | 52,454,804 | 47,506,718 | 48,132,550 | |||||||||||||||
Short-term borrowings | 2,397,101 | 2,397,101 | 2,352,143 | 2,343,552 | |||||||||||||||
Long term debt | 4,335,962 | 4,286,304 | 2,458,272 | 2,424,564 | |||||||||||||||
Derivatives | 284,255 | 284,255 | 129,274 | 129,274 | |||||||||||||||
Estimated Fair Value Measurements at Reporting Date Using | Balance at | ||||||||||||||||||
(dollar amounts in thousands) | Level 1 | Level 2 | Level 3 | 31-Dec-14 | |||||||||||||||
Financial Assets | |||||||||||||||||||
Held-to-maturity securities | $ | --- | $ | 3,382,715 | $ | --- | $ | 3,382,715 | |||||||||||
Net loans and direct financing leases | --- | --- | 45,110,406 | 45,110,406 | |||||||||||||||
Financial liabilities | |||||||||||||||||||
Deposits | --- | 48,183,798 | 4,271,006 | 52,454,804 | |||||||||||||||
Short-term borrowings | --- | --- | 2,397,101 | 2,397,101 | |||||||||||||||
Long-term debt | --- | --- | 4,286,304 | 4,286,304 | |||||||||||||||
Estimated Fair Value Measurements at Reporting Date Using | Balance at | ||||||||||||||||||
(dollar amounts in thousands) | Level 1 | Level 2 | Level 3 | 31-Dec-13 | |||||||||||||||
Financial Assets | |||||||||||||||||||
Held-to-maturity securities | $ | --- | $ | 3,760,898 | $ | --- | $ | 3,760,898 | |||||||||||
Net loans and direct financing leases | --- | --- | 40,976,014 | 40,976,014 | |||||||||||||||
Financial liabilities | |||||||||||||||||||
Deposits | --- | 42,279,542 | 5,853,008 | 48,132,550 | |||||||||||||||
Short-term borrowings | --- | --- | 2,343,552 | 2,343,552 | |||||||||||||||
Long-term debt | --- | --- | 2,424,564 | 2,424,564 |
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Derivative Financial Instruments [Abstract] | ||||||||||||||||||||
Gross notional values of derivatives used in asset and liability management activities | The following table presents the gross notional values of derivatives used in Huntington’s asset and liability management activities at December 31, 2014, identified by the underlying interest rate-sensitive instruments | |||||||||||||||||||
Fair Value | Cash Flow | |||||||||||||||||||
(dollar amounts in thousands) | Hedges | Hedges | Total | |||||||||||||||||
Instruments associated with: | ||||||||||||||||||||
Loans | $ | --- | $ | 9,300,000 | $ | 9,300,000 | ||||||||||||||
Deposits | 69,100 | --- | 69,100 | |||||||||||||||||
Subordinated notes | 475,000 | --- | 475,000 | |||||||||||||||||
Long-term debt | 2,285,000 | --- | 2,285,000 | |||||||||||||||||
Total notional value at December 31, 2014 | $ | 2,829,100 | $ | 9,300,000 | $ | 12,129,100 | ||||||||||||||
Additional information about the interest rate swaps used in asset and liability management activities | The following table presents additional information about the interest rate swaps used in Huntington’s asset and liability management activities at December 31, 2014: | |||||||||||||||||||
Average | Weighted-Average | |||||||||||||||||||
Notional | Maturity | Fair | Rate | |||||||||||||||||
(dollar amounts in thousands ) | Value | (years) | Value | Receive | Pay | |||||||||||||||
Asset conversion swaps | ||||||||||||||||||||
Receive fixed - generic | $ | 9,300,000 | 2 | $ | -17,078 | 0.8 | % | 0.24 | % | |||||||||||
Liability conversion swaps | ||||||||||||||||||||
Receive fixed - generic | 2,829,100 | 3.1 | 57,544 | 1.73 | 0.25 | |||||||||||||||
Total swap portfolio | $ | 12,129,100 | 2.2 | $ | 40,466 | 1.02 | % | 0.25 | % | |||||||||||
Asset and liability derivatives included in accrued income and other assets | Asset derivatives included in accrued income and other assets | |||||||||||||||||||
December 31, | ||||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||||||||||||||
Interest rate contracts designated as hedging instruments | $ | 53,114 | $ | 49,998 | ||||||||||||||||
Interest rate contracts not designated as hedging instruments | 183,610 | 169,047 | ||||||||||||||||||
Foreign exchange contracts not designated as hedging instruments | 32,798 | 28,499 | ||||||||||||||||||
Commodity contracts not designated as hedging instruments | 180,218 | 4,278 | ||||||||||||||||||
Total contracts | $ | 449,740 | $ | 251,822 | ||||||||||||||||
Liability derivatives included in accrued expenses and other liabilities | ||||||||||||||||||||
December 31, | ||||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||||||||||||||
Interest rate contracts designated as hedging instruments | $ | 12,648 | $ | 25,321 | ||||||||||||||||
Interest rate contracts not designated as hedging instruments | 110,627 | 99,247 | ||||||||||||||||||
Foreign exchange contracts not designated as hedging instruments | 29,754 | 18,909 | ||||||||||||||||||
Commodity contracts not designated as hedging instruments | 179,180 | 3,838 | ||||||||||||||||||
Total contracts | $ | 332,209 | $ | 147,315 | ||||||||||||||||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | The following table presents the change in fair value for derivatives designated as fair value hedges as well as the offsetting change in fair value on the hedged item: | |||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | |||||||||||||||||
Interest rate contracts | ||||||||||||||||||||
Change in fair value of interest rate swaps hedging deposits (1) | $ | -1,045 | $ | -4,006 | $ | -2,526 | ||||||||||||||
Change in fair value of hedged deposits (1) | 1,025 | 4,003 | 2,601 | |||||||||||||||||
Change in fair value of interest rate swaps hedging subordinated notes (2) | 476 | -44,699 | 1,432 | |||||||||||||||||
Change in fair value of hedged subordinated notes (2) | -476 | 44,699 | -1,432 | |||||||||||||||||
Change in fair value of interest rate swaps hedging other long-term debt (2) | 1,990 | -5,716 | 114 | |||||||||||||||||
Change in fair value of hedged other long-term debt (2) | 828 | 6,843 | -114 | |||||||||||||||||
(1) Effective portion of the hedging relationship is recognized in Interest expense - deposits in the Consolidated Statements of Income. Any resulting ineffective portion of the hedging relationship is recognized in noninterest income in the Consolidated Statements of Income. | ||||||||||||||||||||
(2) Effective portion of the hedging relationship is recognized in Interest expense - subordinated notes and other-long-term debt in the Consolidated Statements of Income. Any resulting ineffective portion of the hedging relationship is recognized in noninterest income in the Consolidated Statements of Income. | ||||||||||||||||||||
Gains and (losses) recognized in other comprehensive income (loss) (OCI) for derivatives designated as effective cash flow hedges | The following table presents the gains and (losses) recognized in OCI and the location in the Consolidated Statements of Income of gains and (losses) reclassified from OCI into earnings for derivatives designated as effective cash flow hedges: | |||||||||||||||||||
Derivatives in cash flow hedging relationships | Amount of gain or (loss) recognized in OCI on derivatives (effective portion) | Location of gain or (loss) reclassified from accumulated OCI into earnings (effective portion) | Amount of (gain) or loss reclassified from accumulated OCI into earnings (effective portion) (pre-tax) | |||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||
Interest rate contracts | ||||||||||||||||||||
Loans | $ | 9,192 | $ | -56,056 | $ | -2,866 | Interest and fee income - loans and leases | $ | -4,064 | $ | -14,979 | $ | 14,849 | |||||||
Investment securities | --- | --- | -703 | Interest and fee income - investment securities | 93 | -209 | --- | |||||||||||||
Subordinated notes | --- | --- | --- | Interest expense - subordinated notes and other long-term debt | --- | --- | 143 | |||||||||||||
Total | $ | 9,192 | $ | -56,056 | $ | -3,569 | $ | -3,971 | $ | -15,188 | $ | 14,992 | ||||||||
Gains and (losses) recognized in noninterest income on the ineffective portion on interest rate contracts for derivatives designated as fair value and cash flow hedges | The following table presents the gains and (losses) recognized in noninterest income for the ineffective portion of interest rate contracts for derivatives designated as cash flow hedges for the years ending December 31, 2014, 2013, and 2012: | |||||||||||||||||||
December 31, | ||||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | |||||||||||||||||
Derivatives in cash flow hedging relationships | ||||||||||||||||||||
Interest rate contracts: | ||||||||||||||||||||
Loans | $ | 74 | $ | 878 | $ | -179 | ||||||||||||||
Offsetting of financial assets and derivatives assets | Offsetting of Financial Assets and Derivative Assets | |||||||||||||||||||
Gross amounts not offset in the consolidated balance sheets | ||||||||||||||||||||
(dollar amounts in thousands) | Gross amounts of recognized assets | Gross amounts offset in the consolidated balance sheets | Net amounts of assets presented in the consolidated balance sheets | Financial instruments | Cash collateral received | Net amount | ||||||||||||||
Offsetting of Financial Assets and Derivative Assets | ||||||||||||||||||||
31-Dec-14 | Derivatives | $ | 480,803 | $ | -128,161 | $ | 352,642 | $ | -27,744 | $ | -1,095 | $ | 323,803 | |||||||
31-Dec-13 | Derivatives | 300,903 | -111,458 | 189,445 | -35,205 | -360 | 153,880 | |||||||||||||
Offsetting of financial liabilities and derivative liabilities | Offsetting of Financial Liabilities and Derivative Liabilities | |||||||||||||||||||
Gross amounts not offset in the consolidated balance sheets | ||||||||||||||||||||
(dollar amounts in thousands) | Gross amounts of recognized liabilities | Gross amounts offset in the consolidated balance sheets | Net amounts of assets presented in the consolidated balance sheets | Financial instruments | Cash collateral delivered | Net amount | ||||||||||||||
Offsetting of Financial Liabilities and Derivative Liabilities | ||||||||||||||||||||
31-Dec-14 | Derivatives | $ | 363,192 | $ | -78,937 | $ | 284,255 | $ | -78,654 | $ | -111 | $ | 205,490 | |||||||
31-Dec-13 | Derivatives | 196,397 | -76,539 | 119,858 | -86,204 | 290 | 33,944 | |||||||||||||
Derivative assets and liabilities used in mortgage banking activities | At December 31, | |||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||||||||||||||
Derivative assets: | ||||||||||||||||||||
Interest rate lock agreements | $ | 4,064 | $ | 3,066 | ||||||||||||||||
Forward trades and options | 35 | 3,997 | ||||||||||||||||||
Total derivative assets | 4,099 | 7,063 | ||||||||||||||||||
Derivative liabilities: | ||||||||||||||||||||
Interest rate lock agreements | -259 | -231 | ||||||||||||||||||
Forward trades and options | -3,760 | -40 | ||||||||||||||||||
Total derivative liabilities | -4,019 | -271 | ||||||||||||||||||
Net derivative asset (liability) | $ | 80 | $ | 6,792 | ||||||||||||||||
Variable_Interest_Entities_Tab
Variable Interest Entities (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Variable Interest Entities [Abstract] | ||||||||||||||||
Carrying amount and classification of the trusts assets and liabilities | 2009 | 2006 | Other | |||||||||||||
Automobile | Automobile | Consolidated | ||||||||||||||
Trust | Trust | Trusts | Total | |||||||||||||
(dollar amounts in thousands) | 31-Dec-14 | |||||||||||||||
Assets: | ||||||||||||||||
Cash | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||
Loans and leases | --- | --- | --- | --- | ||||||||||||
Allowance for loan and lease losses | --- | --- | --- | --- | ||||||||||||
Net loans and leases | --- | --- | --- | --- | ||||||||||||
Accrued income and other assets | --- | --- | 243 | 243 | ||||||||||||
Total assets | $ | --- | $ | --- | $ | 243 | $ | 243 | ||||||||
Liabilities: | ||||||||||||||||
Other long-term debt | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||
Accrued interest and other liabilities | --- | --- | 243 | 243 | ||||||||||||
Total liabilities | $ | --- | $ | --- | $ | 243 | $ | 243 | ||||||||
2009 | 2006 | Other | ||||||||||||||
Automobile | Automobile | Consolidated | ||||||||||||||
Trust | Trust | Trusts | Total | |||||||||||||
(dollar amounts in thousands) | 31-Dec-13 | |||||||||||||||
Assets: | ||||||||||||||||
Cash | $ | 8,580 | $ | 79,153 | $ | --- | $ | 87,733 | ||||||||
Loans and leases | 52,286 | 151,171 | --- | 203,457 | ||||||||||||
Allowance for loan and lease losses | --- | -711 | --- | -711 | ||||||||||||
Net loans and leases | 52,286 | 150,460 | --- | 202,746 | ||||||||||||
Accrued income and other assets | 235 | 485 | 262 | 982 | ||||||||||||
Total assets | $ | 61,101 | $ | 230,098 | $ | 262 | $ | 291,461 | ||||||||
Liabilities: | ||||||||||||||||
Other long-term debt | $ | --- | $ | --- | $ | --- | $ | --- | ||||||||
Accrued interest and other liabilities | --- | --- | 262 | 262 | ||||||||||||
Total liabilities | $ | --- | $ | --- | $ | 262 | $ | 262 | ||||||||
31-Dec-14 | ||||||||||||||||
(dollar amounts in thousands) | Total Assets | Total Liabilities | Maximum Exposure to Loss | |||||||||||||
2012-1 Automobile Trust | $ | 2,136 | $ | --- | $ | 2,136 | ||||||||||
2012-2 Automobile Trust | 3,220 | --- | 3,220 | |||||||||||||
2011 Automobile Trust | 944 | --- | 944 | |||||||||||||
Tower Hill Securities, Inc. | 55,611 | 65,000 | 55,611 | |||||||||||||
Trust Preferred Securities | 13,919 | 317,075 | --- | |||||||||||||
Low Income Housing Tax Credit Partnerships | 368,283 | 154,861 | 368,283 | |||||||||||||
Other Investments | 83,400 | 20,760 | 83,400 | |||||||||||||
Total | $ | 527,513 | $ | 557,696 | $ | 513,594 | ||||||||||
31-Dec-13 | ||||||||||||||||
(dollar amounts in thousands) | Total Assets | Total Liabilities | Maximum Exposure to Loss | |||||||||||||
2012-1 Automobile Trust | $ | 5,975 | $ | --- | $ | 5,975 | ||||||||||
2012-2 Automobile Trust | 7,396 | --- | 7,396 | |||||||||||||
2011 Automobile Trust | 3,040 | --- | 3,040 | |||||||||||||
Tower Hill Securities, Inc. | 66,702 | 65,000 | 66,702 | |||||||||||||
Trust Preferred Securities | 13,764 | 312,894 | --- | |||||||||||||
Low Income Housing Tax Credit Partnerships | 317,226 | 134,604 | 317,226 | |||||||||||||
Other Investments | 90,278 | 9,772 | 90,278 | |||||||||||||
Total | $ | 504,381 | $ | 522,270 | $ | 490,617 | ||||||||||
Summary of Outstanding Trust Preferred Securities | Principal amount of | Investment in | ||||||||||||||
subordinated note/ | unconsolidated | |||||||||||||||
(dollar amounts in thousands) | Rate | debenture issued to trust (1) | subsidiary | |||||||||||||
Huntington Capital I | 0.93 | -2% | $ | 111,816 | $ | 6,186 | ||||||||||
Huntington Capital II | 0.87 | -3% | 54,593 | 3,093 | ||||||||||||
Sky Financial Capital Trust III | 1.66 | -4% | 72,165 | 2,165 | ||||||||||||
Sky Financial Capital Trust IV | 1.63 | -4% | 74,320 | 2,320 | ||||||||||||
Camco Financial Trust | 1.57 | -5% | 4,181 | 155 | ||||||||||||
Total | $ | 317,075 | $ | 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, 2014, based on three month LIBOR + 0.70. | |||||||||||||||
-3 | Variable effective rate at December 31, 2014, based on three month LIBOR + 0.625. | |||||||||||||||
-4 | Variable effective rate at December 31, 2014, based on three month LIBOR + 1.40. | |||||||||||||||
-5 | Variable effective rate (including impact of purchase accounting accretion) at December 31, 2014, based on three month LIBOR + 1.33. | |||||||||||||||
Affordable housing tax credit investments | December 31, | December 31, | ||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||||||||||
Affordable housing tax credit investments | $ | 576,381 | $ | 484,799 | ||||||||||||
Less: amortization | -208,098 | -167,573 | ||||||||||||||
Net affordable housing tax credit investments | $ | 368,283 | $ | 317,226 | ||||||||||||
Unfunded commitments | $ | 154,861 | $ | 134,604 | ||||||||||||
Year Ended December 31, | ||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | |||||||||||||
Tax credits and other tax benefits recognized | $ | 51,317 | $ | 55,819 | $ | 55,558 | ||||||||||
Proportional amortization method | ||||||||||||||||
Tax credit amortization expense included in provision for income taxes | 39,021 | 32,789 | 32,337 | |||||||||||||
Equity method | ||||||||||||||||
Tax credit investment losses included in non-interest income | 434 | 1,176 | 676 | |||||||||||||
Commitments_and_Contingent_Lia1
Commitments and Contingent Liabilities (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Commitments and Contingent Liabilities [Abstract] | ||||||||
Contract amounts of various commitments to extend credit | In the ordinary course of business, Huntington makes various commitments to extend credit that are not reflected in the Consolidated Financial Statements. The contract amounts of these financial agreements at December 31, 2014, and December 31, 2013, were as follows: | |||||||
At December 31, | ||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||
Contract amount represents credit risk | ||||||||
Commitments to extend credit: | ||||||||
Commercial | $ | 11,181,522 | $ | 10,198,327 | ||||
Consumer | 7,579,632 | 6,544,606 | ||||||
Commercial real estate | 908,112 | 765,982 | ||||||
Standby letters of credit | 497,457 | 439,834 |
Other_Regulatory_Matters_Table
Other Regulatory Matters (Tables) | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||
Banking and Thrift [Abstract] | ||||||||||||||||||||||
Period-end capital amounts and capital ratios | The period-end capital amounts and capital ratios of Huntington and the Bank are as follows: | |||||||||||||||||||||
Tier 1 risk-based capital (1) | Total risk-based capital (1) | Tier 1 leverage capital (1) | ||||||||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||
Huntington Bancshares Incorporated | ||||||||||||||||||||||
Amount | $ | 6,265,900 | $ | 6,099,629 | $ | 7,388,336 | $ | 7,239,035 | $ | 6,265,900 | $ | 6,099,629 | ||||||||||
Ratio | 11.5 | % | 12.28 | % | 13.56 | % | 14.57 | % | 9.74 | % | 10.67 | % | ||||||||||
The Huntington National Bank | ||||||||||||||||||||||
Amount | $ | 6,136,190 | $ | 5,682,067 | $ | 6,956,242 | $ | 6,520,190 | $ | 6,136,190 | $ | 5,682,067 | ||||||||||
Ratio | 11.28 | % | 11.45 | % | 12.79 | % | 13.14 | % | 9.56 | % | 9.97 | % | ||||||||||
-1 | In accordance with applicable regulatory reporting guidance, we are not required to retrospectively update historical filings for newly adopted accounting principles. Therefore, regulatory capital data has not been updated for the adoption of ASU 2014-01. |
Parent_Company_Financial_State1
Parent Company Financial Statements (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Parent Company Financial Statements [Abstract] | ||||||||||
Balance Sheets | Balance Sheets | December 31, | ||||||||
(dollar amounts in thousands) | 2014 | 2013 | ||||||||
Assets | ||||||||||
Cash and cash equivalents | $ | 662,768 | $ | 966,065 | ||||||
Due from The Huntington National Bank | 276,851 | 246,841 | ||||||||
Due from non-bank subsidiaries | 51,129 | 57,747 | ||||||||
Investment in The Huntington National Bank | 6,073,408 | 5,537,582 | ||||||||
Investment in non-bank subsidiaries | 509,114 | 587,388 | ||||||||
Accrued interest receivable and other assets | 279,366 | 286,036 | ||||||||
Total assets | $ | 7,852,636 | $ | 7,681,659 | ||||||
Liabilities and shareholders' equity | ||||||||||
Long-term borrowings | $ | 1,046,105 | $ | 1,034,266 | ||||||
Dividends payable, accrued expenses, and other liabilities | 478,361 | 557,240 | ||||||||
Total liabilities | 1,524,466 | 1,591,506 | ||||||||
Shareholders' equity (1) | 6,328,170 | 6,090,153 | ||||||||
Total liabilities and shareholders' equity | $ | 7,852,636 | $ | 7,681,659 | ||||||
(1) See Consolidated Statements of Changes in Shareholders’ Equity. | ||||||||||
Statements of Income | Statements of Income | Year Ended December 31, | ||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | |||||||
Income | ||||||||||
Dividends from | ||||||||||
The Huntington National Bank | $ | 244,000 | $ | --- | $ | --- | ||||
Non-bank subsidiaries | 27,773 | 55,473 | 36,450 | |||||||
Interest from | ||||||||||
The Huntington National Bank | 3,906 | 6,598 | 38,617 | |||||||
Non-bank subsidiaries | 2,613 | 3,129 | 5,420 | |||||||
Other | 2,994 | 2,148 | 1,409 | |||||||
Total income | 281,286 | 67,348 | 81,896 | |||||||
Expense | ||||||||||
Personnel costs | 53,359 | 52,846 | 42,745 | |||||||
Interest on borrowings | 17,031 | 20,739 | 28,926 | |||||||
Other | 52,662 | 36,728 | 35,415 | |||||||
Total expense | 123,052 | 110,313 | 107,086 | |||||||
Income (loss) before income taxes and equity in undistributed net income of subsidiaries | 158,234 | -42,965 | -25,190 | |||||||
Provision (benefit) for income taxes | -62,897 | -22,298 | -12,565 | |||||||
Income (loss) before equity in undistributed net income of subsidiaries | 221,131 | -20,667 | -12,625 | |||||||
Increase (decrease) in undistributed net income (loss) of: | ||||||||||
The Huntington National Bank | 414,049 | 692,392 | 653,615 | |||||||
Non-bank subsidiaries | -2,788 | -30,443 | -9,700 | |||||||
Net income | $ | 632,392 | $ | 641,282 | $ | 631,290 | ||||
Other comprehensive income (loss) (1) | -8,283 | -63,192 | 22,946 | |||||||
Comprehensive income | $ | 624,109 | $ | 578,090 | $ | 654,236 | ||||
(1) See Consolidated Statements of Comprehensive Income for other comprehensive income (loss) detail. | ||||||||||
Statements of Cash Flows | ||||||||||
Statements of Cash Flows | Year Ended December 31, | |||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2012 | |||||||
Operating activities | ||||||||||
Net income | $ | 632,392 | $ | 641,282 | $ | 631,290 | ||||
Adjustments to reconcile net income to net cash | ||||||||||
provided by operating activities: | ||||||||||
Equity in undistributed net income of subsidiaries | -411,261 | -718,144 | -688,149 | |||||||
Depreciation and amortization | 548 | 513 | 265 | |||||||
Other, net | 26,685 | 15,965 | 60,446 | |||||||
Net cash (used for) provided by operating activities | 248,364 | -60,384 | 3,852 | |||||||
Investing activities | ||||||||||
Repayments from subsidiaries | 9,250 | 285,792 | 591,923 | |||||||
Advances to subsidiaries | -32,350 | -249,050 | -36,126 | |||||||
Cash paid for acquisitions, net of cash received | -13,452 | --- | --- | |||||||
Net cash (used for) provided by investing activities | -36,552 | 36,742 | 555,797 | |||||||
Financing activities | ||||||||||
Proceeds from issuance of long-term borrowings | --- | 400,000 | --- | |||||||
Payment of borrowings | --- | -50,000 | -236,885 | |||||||
Dividends paid on stock | -198,789 | -182,476 | -169,335 | |||||||
Net proceeds from issuance of common stock | 2,597 | --- | --- | |||||||
Repurchases of common stock | -334,429 | -124,995 | -148,881 | |||||||
Other, net | 15,512 | 25,707 | -1,031 | |||||||
Net cash provided by (used for) financing activities | -515,109 | 68,236 | -556,132 | |||||||
Change in cash and cash equivalents | -303,297 | 44,594 | 3,517 | |||||||
Cash and cash equivalents at beginning of year | 966,065 | 921,471 | 917,954 | |||||||
Cash and cash equivalents at end of year | $ | 662,768 | $ | 966,065 | $ | 921,471 | ||||
Supplemental disclosure: | ||||||||||
Interest paid | $ | 21,321 | $ | 20,739 | $ | 28,926 |
Segment_Reporting_Tables
Segment Reporting (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||
Business Segment Financial Information | Retail & | |||||||||||||||
Income Statements | Business | Commercial | Home | Treasury / | Huntington | |||||||||||
(dollar amounts in thousands) | Banking | Banking | AFCRE | RBHPCG | Lending | Other | Consolidated | |||||||||
2014 | ||||||||||||||||
Net interest income | $ | 912,992 | 306,434 | $ | 379,363 | $ | 101,839 | $ | 58,015 | $ | 78,498 | $ | 1,837,141 | |||
Provision for credit losses | 75,529 | 31,521 | -52,843 | 4,893 | 21,889 | --- | 80,989 | |||||||||
Noninterest income | 409,746 | 209,238 | 26,628 | 173,550 | 69,899 | 90,118 | 979,179 | |||||||||
Noninterest expense | 982,288 | 249,300 | 156,715 | 236,634 | 136,374 | 121,035 | 1,882,346 | |||||||||
Provision (benefit) for income taxes | 92,722 | 82,198 | 105,742 | 11,852 | -10,622 | -61,299 | 220,593 | |||||||||
Net income (loss) | $ | 172,199 | $ | 152,653 | $ | 196,377 | $ | 22,010 | $ | -19,727 | $ | 108,880 | $ | 632,392 | ||
2013 | ||||||||||||||||
Net interest income | $ | 902,526 | $ | 281,461 | $ | 366,508 | $ | 105,862 | $ | 51,839 | $ | -3,588 | $ | 1,704,608 | ||
Provision for credit losses | 137,978 | 27,464 | -82,269 | -5,376 | 12,249 | -1 | 90,045 | |||||||||
Noninterest income | 398,065 | 200,573 | 46,819 | 186,430 | 106,006 | 74,303 | 1,012,196 | |||||||||
Noninterest expense | 964,193 | 254,629 | 156,469 | 236,895 | 141,489 | 4,328 | 1,758,003 | |||||||||
Provision (benefit) for income taxes | 69,447 | 69,979 | 118,694 | 21,271 | 1,437 | -53,354 | 227,474 | |||||||||
Net income | $ | 128,973 | $ | 129,962 | $ | 220,433 | $ | 39,502 | $ | 2,670 | $ | 119,742 | $ | 641,282 | ||
2012 | ||||||||||||||||
Net interest income | $ | 941,844 | $ | 294,333 | $ | 369,376 | $ | 104,329 | $ | 54,980 | $ | -54,338 | $ | 1,710,524 | ||
Provision for credit losses | 135,102 | 4,602 | -16,557 | 6,044 | 18,198 | -1 | 147,388 | |||||||||
Noninterest income | 380,820 | 197,191 | 91,314 | 181,650 | 165,189 | 90,157 | 1,106,321 | |||||||||
Noninterest expense | 973,691 | 248,157 | 160,434 | 253,901 | 132,302 | 67,391 | 1,835,876 | |||||||||
Provision (benefit) for income taxes | 74,855 | 83,568 | 110,885 | 9,112 | 24,384 | -100,513 | 202,291 | |||||||||
Net income | $ | 139,016 | $ | 155,197 | $ | 205,928 | $ | 16,922 | $ | 45,285 | $ | 68,942 | $ | 631,290 | ||
Segment Disclosure of Assets and Deposits | Assets at | Deposits at | ||||||||||||||
December 31, | December 31, | |||||||||||||||
(dollar amounts in thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Retail & Business Banking | $ | 15,146,857 | $ | 14,440,869 | $ | 29,350,255 | $ | 28,293,993 | ||||||||
Commercial Banking | 15,043,477 | 12,410,339 | 11,184,566 | 10,187,891 | ||||||||||||
AFCRE | 16,027,910 | 14,081,112 | 1,377,921 | 1,170,518 | ||||||||||||
RBHPCG | 3,871,020 | 3,736,790 | 6,727,892 | 6,094,135 | ||||||||||||
Home Lending | 3,949,247 | 3,742,527 | 326,841 | 329,511 | ||||||||||||
Treasury / Other | 12,259,499 | 11,055,537 | 2,764,676 | 1,430,670 | ||||||||||||
Total | $ | 66,298,010 | $ | 59,467,174 | $ | 51,732,151 | $ | 47,506,718 | ||||||||
Quarterly_Results_of_Operation1
Quarterly Results of Operations (Unaudited) (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Selected Quarterly Financial Information [Abstract] | ||||||||||
Schedule of Quarterly Results of Operations [Table Text Block] | 2014 | |||||||||
(dollar amounts in thousands, except per share data) | Fourth | Third | Second | First | ||||||
Interest income | $ | 507,625 | $ | 501,060 | $ | 495,322 | $ | 472,455 | ||
Interest expense | 34,373 | 34,725 | 35,274 | 34,949 | ||||||
Net interest income | 473,252 | 466,335 | 460,048 | 437,506 | ||||||
Provision for credit losses | 2,494 | 24,480 | 29,385 | 24,630 | ||||||
Noninterest income | 233,278 | 247,349 | 250,067 | 248,485 | ||||||
Noninterest expense | 483,271 | 480,318 | 458,636 | 460,121 | ||||||
Income before income taxes | 220,765 | 208,886 | 222,094 | 201,240 | ||||||
Provision for income taxes | 57,151 | 53,870 | 57,475 | 52,097 | ||||||
Net income | 163,614 | 155,016 | 164,619 | 149,143 | ||||||
Dividends on preferred shares | 7,963 | 7,964 | 7,963 | 7,964 | ||||||
Net income applicable to common shares | $ | 155,651 | $ | 147,052 | $ | 156,656 | $ | 141,179 | ||
Net income per common share -- Basic | $ | 0.19 | $ | 0.18 | $ | 0.19 | $ | 0.17 | ||
Net income per common share -- Diluted | 0.19 | 0.18 | 0.19 | 0.17 | ||||||
2013 | ||||||||||
(dollar amounts in thousands, except per share data) | Fourth | Third | Second | First | ||||||
Interest income | $ | 469,824 | $ | 462,912 | $ | 462,582 | $ | 465,319 | ||
Interest expense | 39,175 | 38,060 | 37,645 | 41,149 | ||||||
Net interest income | 430,649 | 424,852 | 424,937 | 424,170 | ||||||
Provision for credit losses | 24,331 | 11,400 | 24,722 | 29,592 | ||||||
Noninterest income | 249,892 | 253,767 | 251,919 | 256,618 | ||||||
Noninterest expense | 446,009 | 423,336 | 445,865 | 442,793 | ||||||
Income before income taxes | 210,201 | 243,883 | 206,269 | 208,403 | ||||||
Provision for income taxes | 52,029 | 65,047 | 55,269 | 55,129 | ||||||
Net income | 158,172 | 178,836 | 151,000 | 153,274 | ||||||
Dividends on preferred shares | 7,965 | 7,967 | 7,967 | 7,970 | ||||||
Net income applicable to common shares | $ | 150,207 | $ | 170,869 | $ | 143,033 | $ | 145,304 | ||
Net income per common share -- Basic | $ | 0.18 | $ | 0.21 | $ | 0.17 | $ | 0.17 | ||
Net income per common share -- Diluted | 0.18 | 0.2 | 0.17 | 0.17 |
Loans_and_Leases_and_Allowance2
Loans and Leases and Allowance for Credit Losses (Details) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2010 | Mar. 02, 2014 |
Loan and Lease Portfolio | |||||
Commercial and industrial | $19,033,146 | $17,594,276 | |||
Commercial real estate | 5,197,403 | 4,850,094 | |||
Automobile | 8,689,902 | 6,638,713 | |||
Home equity | 8,490,915 | 8,336,318 | |||
Residential mortgage | 5,830,609 | 5,321,088 | |||
Other consumer | 413,751 | 380,011 | |||
Loans and leases | 47,655,726 | 43,120,500 | |||
Allowance for loan and lease losses | -605,196 | -647,870 | -769,075 | -964,828 | |
Net loans and leases | 47,050,530 | 42,472,630 | |||
Loan Purchases and Sales | |||||
Portfolio loans purchased | 345,039 | 109,723 | |||
Portfolio loans sold or transferred to loans held for sale | 368,101 | 436,031 | |||
Non Accrual Loans | |||||
Non Accrual loans | 300,244 | 322,056 | |||
Contractually required payments, expected cash flows to be collected, and fair value of loans at acquisition | |||||
Accretable yield | 0 | 0 | |||
Rollforward of accretable yield | |||||
Accretable yield balance, beginning of period | 27,995 | 23,251 | |||
Impact of acquisition | 0 | 0 | |||
Adjustments resulting from changes in purchase price allocation | 0 | 0 | |||
Accretion | 13,485 | 15,931 | |||
Reclassification from nonaccretable difference | 4,878 | 20,675 | |||
Accretable yield balance, end of period | 19,388 | 27,995 | 23,251 | ||
Ending balance and unpaid balance of acquired loans | |||||
Ending balance | 61,031 | 120,226 | |||
Unpaid balance | 124,091 | 209,567 | |||
Camco Financial [Member] | |||||
Contractually required payments, expected cash flows to be collected, and fair value of loans at acquisition | |||||
Contractually required payments including interest | 14,363 | ||||
Nonaccretable difference | -11,234 | ||||
Cash flows expected to be collected | 3,129 | ||||
Accretable yield | -143 | ||||
Fair value of loans acquired | 2,986 | ||||
Rollforward of accretable yield | |||||
Impact of acquisition | -143 | ||||
Commercial and industrial owner occupied [Member] | |||||
Loan and Lease Portfolio | |||||
Commercial and industrial | 4,254,875 | 4,347,872 | |||
Non Accrual Loans | |||||
Non Accrual loans | 41,285 | 38,321 | |||
Commercial and industrial purchased impaired | |||||
Loan and Lease Portfolio | |||||
Commercial and industrial | 23,228 | ||||
Non Accrual Loans | |||||
Non Accrual loans | 0 | 0 | |||
Ending balance and unpaid balance of acquired loans | |||||
Ending balance | 22,405 | 35,526 | |||
Unpaid balance | 33,622 | 50,798 | |||
Other commercial and industrial [Member] | |||||
Loan and Lease Portfolio | |||||
Commercial and industrial | 14,755,043 | 13,210,878 | |||
Non Accrual Loans | |||||
Non Accrual loans | 30,689 | 18,294 | |||
Commercial and Industrial [Member] | |||||
Loan and Lease Portfolio | |||||
Loans and leases | 19,033,146 | 17,594,276 | |||
Allowance for loan and lease losses | -286,995 | -265,801 | -241,051 | -275,367 | |
Loan Purchases and Sales | |||||
Portfolio loans purchased | 326,557 | 109,723 | |||
Portfolio loans sold or transferred to loans held for sale | 352,062 | 225,930 | |||
Non Accrual Loans | |||||
Non Accrual loans | 71,974 | 56,615 | |||
Commercial real estate retail properties [Member] | |||||
Loan and Lease Portfolio | |||||
Commercial real estate | 1,357,746 | 1,263,569 | |||
Non Accrual Loans | |||||
Non Accrual loans | 21,385 | 27,328 | |||
Commercial real estate Multi family [Member] | |||||
Loan and Lease Portfolio | |||||
Commercial real estate | 1,090,416 | 1,025,591 | |||
Non Accrual Loans | |||||
Non Accrual loans | 9,743 | 9,289 | |||
Commercial real estate office [Member] | |||||
Loan and Lease Portfolio | |||||
Commercial real estate | 980,303 | 942,293 | |||
Non Accrual Loans | |||||
Non Accrual loans | 7,707 | 18,995 | |||
Commercial real estate Industrial and warehouse [Member] | |||||
Loan and Lease Portfolio | |||||
Commercial real estate | 513,401 | 472,893 | |||
Non Accrual Loans | |||||
Non Accrual loans | 3,928 | 6,310 | |||
Commercial real estate purchased impaired | |||||
Loan and Lease Portfolio | |||||
Commercial real estate | 38,371 | ||||
Non Accrual Loans | |||||
Non Accrual loans | 0 | 0 | |||
Ending balance and unpaid balance of acquired loans | |||||
Ending balance | 36,663 | 82,073 | |||
Unpaid balance | 87,250 | 154,869 | |||
Other commercial real estate [Member] | |||||
Loan and Lease Portfolio | |||||
Commercial real estate | 1,217,166 | 1,063,675 | |||
Non Accrual Loans | |||||
Non Accrual loans | 5,760 | 11,495 | |||
Commercial Real Estate [Member] | |||||
Loan and Lease Portfolio | |||||
Loans and leases | 5,197,403 | 4,850,094 | |||
Allowance for loan and lease losses | -102,839 | -162,557 | -285,369 | -388,706 | |
Loan Purchases and Sales | |||||
Portfolio loans purchased | 0 | 0 | |||
Portfolio loans sold or transferred to loans held for sale | 8,447 | 4,767 | |||
Non Accrual Loans | |||||
Non Accrual loans | 48,523 | 73,417 | |||
Automobile Loan [Member] | |||||
Loan and Lease Portfolio | |||||
Loans and leases | 8,689,902 | 6,638,713 | |||
Allowance for loan and lease losses | -33,466 | -31,053 | -34,979 | -38,282 | |
Loan Purchases and Sales | |||||
Portfolio loans purchased | 0 | 0 | |||
Portfolio loans sold or transferred to loans held for sale | 0 | 0 | |||
Non Accrual Loans | |||||
Non Accrual loans | 4,623 | 6,303 | |||
Home equity secured by first-lien other [Member] | |||||
Loan and Lease Portfolio | |||||
Home equity | 5,128,804 | 4,842,144 | |||
Non Accrual Loans | |||||
Non Accrual loans | 46,938 | 36,288 | |||
Home equity secured by junior-lien [Member] | |||||
Loan and Lease Portfolio | |||||
Home equity | 3,362,111 | 3,494,174 | |||
Non Accrual Loans | |||||
Non Accrual loans | 31,622 | 29,901 | |||
Home Equity [Member] | |||||
Loan and Lease Portfolio | |||||
Loans and leases | 8,490,915 | 8,336,318 | |||
Allowance for loan and lease losses | -96,413 | -111,131 | -118,764 | -143,873 | |
Loan Purchases and Sales | |||||
Portfolio loans purchased | 0 | 0 | |||
Portfolio loans sold or transferred to loans held for sale | 0 | 0 | |||
Non Accrual Loans | |||||
Non Accrual loans | 78,560 | 66,189 | |||
Residential mortgage other | |||||
Loan and Lease Portfolio | |||||
Residential mortgage | 5,828,697 | 5,318,590 | |||
Non Accrual Loans | |||||
Non Accrual loans | 96,564 | 119,532 | |||
Residential mortgage purchased impaired | |||||
Loan and Lease Portfolio | |||||
Residential mortgage | 1,912 | ||||
Ending balance and unpaid balance of acquired loans | |||||
Ending balance | 1,912 | 2,498 | |||
Unpaid balance | 3,096 | 3,681 | |||
Residential Mortgage [Member] | |||||
Loan and Lease Portfolio | |||||
Loans and leases | 5,830,609 | 5,321,088 | |||
Allowance for loan and lease losses | -47,211 | -39,577 | -61,658 | -87,194 | |
Loan Purchases and Sales | |||||
Portfolio loans purchased | 18,482 | 0 | |||
Portfolio loans sold or transferred to loans held for sale | 0 | 205,334 | |||
Other consumer other | |||||
Loan and Lease Portfolio | |||||
Other consumer | 413,700 | 379,882 | |||
Non Accrual Loans | |||||
Non Accrual loans | 0 | 0 | |||
Other consumer purchased impaired | |||||
Loan and Lease Portfolio | |||||
Other consumer | 51 | ||||
Ending balance and unpaid balance of acquired loans | |||||
Ending balance | 51 | 129 | |||
Unpaid balance | 123 | 219 | |||
Other Consumer loan [Member] | |||||
Loan and Lease Portfolio | |||||
Loans and leases | 413,751 | 380,011 | |||
Allowance for loan and lease losses | -38,272 | -37,751 | -27,254 | -31,406 | |
Loan Purchases and Sales | |||||
Portfolio loans purchased | 0 | 0 | |||
Portfolio loans sold or transferred to loans held for sale | 7,592 | 0 | |||
Non Accrual Loans | |||||
Non Accrual loans | $0 | $0 |
Loans_and_Leases_and_Allowance3
Loans and Leases and Allowance for Credit Losses (Details 1) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | $19,033,146 | $17,594,276 | ||
Commercial real estate | 5,197,403 | 4,850,094 | ||
Automobile | 8,689,902 | 6,638,713 | ||
Home equity | 8,490,915 | 8,336,318 | ||
Residential mortgage | 5,830,609 | 5,321,088 | ||
Other consumer | 413,751 | 380,011 | ||
Commercial and industrial owner occupied [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 4,254,875 | 4,347,872 | ||
Commercial and industrial purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 23,228 | |||
Other commercial and industrial [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 14,755,043 | 13,210,878 | ||
Commercial and Industrial [Member] | ||||
Net investments in lease financing receivables by category | ||||
Lease payments receivable | 1,051,744 | 1,426,928 | ||
Estimated residual value of leased assets | 483,407 | 409,184 | ||
Gross investment in lease financing receivables | 1,535,151 | 1,836,112 | ||
Net deferred origination fees/costs | 2,557 | 3,105 | ||
Unearned income | 131,027 | 165,052 | ||
Total net investment in lease financing receivables | 1,406,681 | 1,674,165 | ||
Commercial real estate retail properties [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 1,357,746 | 1,263,569 | ||
Commercial real estate Multi family [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 1,090,416 | 1,025,591 | ||
Commercial real estate office [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 980,303 | 942,293 | ||
Commercial real estate Industrial and warehouse [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 513,401 | 472,893 | ||
Commercial real estate purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 38,371 | |||
Other commercial real estate [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 1,217,166 | 1,063,675 | ||
Home equity secured by first-lien other [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 5,128,804 | 4,842,144 | ||
Home equity secured by junior-lien [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 3,362,111 | 3,494,174 | ||
Residential mortgage other | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 5,828,697 | 5,318,590 | ||
Residential Mortgage Purchased Impaired [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 1,912 | |||
Other consumer other | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 413,700 | 379,882 | ||
Other consumer purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 51 | |||
Due Past 30 To 59 Days [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 21,408 | 16,518 | ||
Commercial real estate | 11,471 | 31,130 | ||
Automobile | 56,272 | 45,174 | ||
Home equity | 37,509 | 49,516 | ||
Residential mortgage | 102,702 | 101,778 | ||
Other consumer | 5,491 | 6,534 | ||
Due Past 30 To 59 Days [Member] | Commercial and industrial owner occupied [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 5,232 | 5,935 | ||
Due Past 30 To 59 Days [Member] | Commercial and industrial purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 846 | 241 | ||
Due Past 30 To 59 Days [Member] | Other commercial and industrial [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 15,330 | 10,342 | ||
Due Past 30 To 59 Days [Member] | Commercial real estate retail properties [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 7,866 | 19,372 | ||
Due Past 30 To 59 Days [Member] | Commercial real estate Multi family [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 1,517 | 2,425 | ||
Due Past 30 To 59 Days [Member] | Commercial real estate office [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 464 | 1,635 | ||
Due Past 30 To 59 Days [Member] | Commercial real estate Industrial and warehouse [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 688 | 465 | ||
Due Past 30 To 59 Days [Member] | Commercial real estate purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 89 | 1,311 | ||
Due Past 30 To 59 Days [Member] | Other commercial real estate [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 847 | 5,922 | ||
Due Past 30 To 59 Days [Member] | Home equity secured by first-lien other [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 15,036 | 20,551 | ||
Due Past 30 To 59 Days [Member] | Home equity secured by junior-lien [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 22,473 | 28,965 | ||
Due Past 30 To 59 Days [Member] | Residential mortgage other | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 102,702 | 101,584 | ||
Due Past 30 To 59 Days [Member] | Residential Mortgage Purchased Impaired [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 0 | 194 | ||
Due Past 30 To 59 Days [Member] | Other consumer other | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 5,491 | 6,465 | ||
Due Past 30 To 59 Days [Member] | Other consumer purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 0 | 69 | ||
Due Past 60 To 89 Days [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 4,517 | 5,387 | ||
Commercial real estate | 3,049 | 7,564 | ||
Automobile | 10,427 | 8,863 | ||
Home equity | 20,382 | 21,817 | ||
Residential mortgage | 42,009 | 41,784 | ||
Other consumer | 1,086 | 1,276 | ||
Due Past 60 To 89 Days [Member] | Commercial and industrial owner occupied [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 2,981 | 1,879 | ||
Due Past 60 To 89 Days [Member] | Commercial and industrial purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 0 | 433 | ||
Due Past 60 To 89 Days [Member] | Other commercial and industrial [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 1,536 | 3,075 | ||
Due Past 60 To 89 Days [Member] | Commercial real estate retail properties [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 0 | 1,228 | ||
Due Past 60 To 89 Days [Member] | Commercial real estate Multi family [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 312 | 943 | ||
Due Past 60 To 89 Days [Member] | Commercial real estate office [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 1,167 | 545 | ||
Due Past 60 To 89 Days [Member] | Commercial real estate Industrial and warehouse [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 0 | 3,714 | ||
Due Past 60 To 89 Days [Member] | Commercial real estate purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 289 | 0 | ||
Due Past 60 To 89 Days [Member] | Other commercial real estate [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 1,281 | 1,134 | ||
Due Past 60 To 89 Days [Member] | Home equity secured by first-lien other [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 8,085 | 8,746 | ||
Due Past 60 To 89 Days [Member] | Home equity secured by junior-lien [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 12,297 | 13,071 | ||
Due Past 60 To 89 Days [Member] | Residential mortgage other | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 42,009 | 41,784 | ||
Due Past 60 To 89 Days [Member] | Residential Mortgage Purchased Impaired [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 0 | 0 | ||
Due Past 60 To 89 Days [Member] | Other consumer other | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 1,086 | 1,276 | ||
Due Past 60 To 89 Days [Member] | Other consumer purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 0 | 0 | ||
Due Past 90 Or More Days [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 32,260 | 51,430 | ||
Commercial real estate | 37,181 | 75,407 | ||
Automobile | 5,963 | 5,140 | ||
Home equity | 66,420 | 59,864 | ||
Residential mortgage | 139,379 | 159,295 | ||
Other consumer | 837 | 998 | ||
Due Past 90 Or More Days [Member] | Commercial and industrial owner occupied [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 18,222 | 25,658 | ||
Due Past 90 Or More Days [Member] | Commercial and industrial purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 4,937 | 14,562 | ||
Due Past 90 Or More Days [Member] | Other commercial and industrial [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 9,101 | 11,210 | ||
Due Past 90 Or More Days [Member] | Commercial real estate retail properties [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 4,021 | 5,252 | ||
Due Past 90 Or More Days [Member] | Commercial real estate Multi family [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 3,337 | 6,726 | ||
Due Past 90 Or More Days [Member] | Commercial real estate office [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 4,415 | 12,700 | ||
Due Past 90 Or More Days [Member] | Commercial real estate Industrial and warehouse [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 2,649 | 4,395 | ||
Due Past 90 Or More Days [Member] | Commercial real estate purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 18,793 | 39,142 | ||
Due Past 90 Or More Days [Member] | Other commercial real estate [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 3,966 | 7,192 | ||
Due Past 90 Or More Days [Member] | Home equity secured by first-lien other [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 33,014 | 28,472 | ||
Due Past 90 Or More Days [Member] | Home equity secured by junior-lien [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 33,406 | 31,392 | ||
Due Past 90 Or More Days [Member] | Residential mortgage other | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 139,379 | 158,956 | ||
Due Past 90 Or More Days [Member] | Residential Mortgage Purchased Impaired [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 0 | 339 | ||
Due Past 90 Or More Days [Member] | Other consumer other | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 837 | 998 | ||
Due Past 90 Or More Days [Member] | Other consumer purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 0 | 0 | ||
Due Past [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 58,185 | 73,335 | ||
Commercial real estate | 51,701 | 114,101 | ||
Automobile | 72,662 | 59,177 | ||
Home equity | 124,311 | 131,197 | ||
Residential mortgage | 284,090 | 302,857 | ||
Other consumer | 7,414 | 8,808 | ||
Due Past [Member] | Commercial and industrial owner occupied [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 26,435 | 33,472 | ||
Due Past [Member] | Commercial and industrial purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 5,783 | 15,236 | ||
Due Past [Member] | Other commercial and industrial [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 25,967 | 24,627 | ||
Due Past [Member] | Commercial real estate retail properties [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 11,887 | 25,852 | ||
Due Past [Member] | Commercial real estate Multi family [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 5,166 | 10,094 | ||
Due Past [Member] | Commercial real estate office [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 6,046 | 14,880 | ||
Due Past [Member] | Commercial real estate Industrial and warehouse [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 3,337 | 8,574 | ||
Due Past [Member] | Commercial real estate purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 19,171 | 40,453 | ||
Due Past [Member] | Other commercial real estate [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 6,094 | 14,248 | ||
Due Past [Member] | Home equity secured by first-lien other [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 56,135 | 57,769 | ||
Due Past [Member] | Home equity secured by junior-lien [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 68,176 | 73,428 | ||
Due Past [Member] | Residential mortgage other | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 284,090 | 302,324 | ||
Due Past [Member] | Residential Mortgage Purchased Impaired [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 0 | 533 | ||
Due Past [Member] | Other consumer other | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 7,414 | 8,739 | ||
Due Past [Member] | Other consumer purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 0 | 69 | ||
Current Loans And Leases [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 18,974,961 | 17,520,941 | ||
Commercial real estate | 5,145,702 | 4,735,993 | ||
Automobile | 8,617,240 | 6,579,536 | ||
Home equity | 8,366,604 | 8,205,121 | ||
Residential mortgage | 5,546,519 | 5,018,231 | ||
Other consumer | 406,337 | 371,203 | ||
Current Loans And Leases [Member] | Commercial and industrial owner occupied [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 4,228,440 | 4,314,400 | ||
Current Loans And Leases [Member] | Commercial and industrial purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 17,445 | 20,290 | ||
Current Loans And Leases [Member] | Other commercial and industrial [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 14,729,076 | 13,186,251 | ||
Current Loans And Leases [Member] | Commercial real estate retail properties [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 1,345,859 | 1,237,717 | ||
Current Loans And Leases [Member] | Commercial real estate Multi family [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 1,085,250 | 1,015,497 | ||
Current Loans And Leases [Member] | Commercial real estate office [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 974,257 | 927,413 | ||
Current Loans And Leases [Member] | Commercial real estate Industrial and warehouse [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 510,064 | 464,319 | ||
Current Loans And Leases [Member] | Commercial real estate purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 19,200 | 41,620 | ||
Current Loans And Leases [Member] | Other commercial real estate [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 1,211,072 | 1,049,427 | ||
Current Loans And Leases [Member] | Home equity secured by first-lien other [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 5,072,669 | 4,784,375 | ||
Current Loans And Leases [Member] | Home equity secured by junior-lien [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 3,293,935 | 3,420,746 | ||
Current Loans And Leases [Member] | Residential mortgage other | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 5,544,607 | 5,016,266 | ||
Current Loans And Leases [Member] | Residential Mortgage Purchased Impaired [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 1,912 | 1,965 | ||
Current Loans And Leases [Member] | Other consumer other | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 406,286 | 371,143 | ||
Current Loans And Leases [Member] | Other consumer purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 51 | 60 | ||
Total Loans And Leases [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 19,033,146 | 17,594,276 | ||
Commercial real estate | 5,197,403 | 4,850,094 | ||
Automobile | 8,689,902 | 6,638,713 | ||
Home equity | 8,490,915 | 8,336,318 | ||
Residential mortgage | 5,830,609 | 5,321,088 | ||
Other consumer | 413,751 | 380,011 | ||
Total Loans And Leases [Member] | Commercial and industrial owner occupied [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 4,254,875 | 4,347,872 | ||
Total Loans And Leases [Member] | Commercial and industrial purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 23,228 | 35,526 | ||
Total Loans And Leases [Member] | Other commercial and industrial [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 14,755,043 | 13,210,878 | ||
Total Loans And Leases [Member] | Commercial real estate retail properties [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 1,357,746 | 1,263,569 | ||
Total Loans And Leases [Member] | Commercial real estate Multi family [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 1,090,416 | 1,025,591 | ||
Total Loans And Leases [Member] | Commercial real estate office [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 980,303 | 942,293 | ||
Total Loans And Leases [Member] | Commercial real estate Industrial and warehouse [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 513,401 | 472,893 | ||
Total Loans And Leases [Member] | Commercial real estate purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 38,371 | 82,073 | ||
Total Loans And Leases [Member] | Other commercial real estate [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 1,217,166 | 1,063,675 | ||
Total Loans And Leases [Member] | Home equity secured by first-lien other [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 5,128,804 | 4,842,144 | ||
Total Loans And Leases [Member] | Home equity secured by junior-lien [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 3,362,111 | 3,494,174 | ||
Total Loans And Leases [Member] | Residential mortgage other | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 5,828,697 | 5,318,590 | ||
Total Loans And Leases [Member] | Residential Mortgage Purchased Impaired [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 1,912 | 2,498 | ||
Total Loans And Leases [Member] | Other consumer other | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 413,700 | 379,882 | ||
Total Loans And Leases [Member] | Other consumer purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 51 | 129 | ||
Due Past And Accruing 90 Or More Days [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 4,937 | 14,562 | ||
Commercial real estate | 18,793 | 39,142 | ||
Automobile | 5,703 | 5,055 | ||
Home equity | 12,159 | 13,983 | ||
Residential mortgage | 88,052 | 90,454 | [1] | |
Other consumer | 837 | 998 | ||
Due Past And Accruing 90 Or More Days [Member] | Commercial and industrial owner occupied [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 0 | 0 | ||
Due Past And Accruing 90 Or More Days [Member] | Commercial and industrial purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 4,937 | [2] | 14,562 | |
Due Past And Accruing 90 Or More Days [Member] | Other commercial and industrial [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial and industrial | 0 | 0 | ||
Due Past And Accruing 90 Or More Days [Member] | Commercial real estate retail properties [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 0 | 0 | ||
Due Past And Accruing 90 Or More Days [Member] | Commercial real estate Multi family [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 0 | 0 | ||
Due Past And Accruing 90 Or More Days [Member] | Commercial real estate office [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 0 | 0 | ||
Due Past And Accruing 90 Or More Days [Member] | Commercial real estate Industrial and warehouse [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 0 | 0 | ||
Due Past And Accruing 90 Or More Days [Member] | Commercial real estate purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 18,793 | [2] | 39,142 | |
Due Past And Accruing 90 Or More Days [Member] | Other commercial real estate [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Commercial real estate | 0 | 0 | ||
Due Past And Accruing 90 Or More Days [Member] | Home equity secured by first-lien other [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 4,471 | 6,338 | ||
Due Past And Accruing 90 Or More Days [Member] | Home equity secured by junior-lien [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Home equity | 7,688 | 7,645 | ||
Due Past And Accruing 90 Or More Days [Member] | Residential mortgage other | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 88,052 | [1] | 90,115 | |
Due Past And Accruing 90 Or More Days [Member] | Residential Mortgage Purchased Impaired [Member] | ||||
Aging Analysis of Loans and Leases | ||||
Residential mortgage | 0 | [2] | 339 | |
Due Past And Accruing 90 Or More Days [Member] | Other consumer other | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | 837 | 998 | ||
Due Past And Accruing 90 Or More Days [Member] | Other consumer purchased impaired | ||||
Aging Analysis of Loans and Leases | ||||
Other consumer | $0 | [2] | $0 | |
[1] | Includes $55,012 thousand guaranteed by the U.S. government. | |||
[2] | All amounts represent accruing purchased credit-impaired loans related to the Camco Financial and FDIC-assisted Fidelity Bank acquisition. Under the applicable accounting guidance (ASC-310-30), the loans were recorded at fair value upon acquisition and remain in accruing status. |
Loans_and_Leases_and_Allowance4
Loans and Leases and Allowance for Credit Losses (Details 2) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Allowance For Credit Losses Roll Forward [Abstract] | |||||
ALLL balance, beginning of period | $647,870 | $769,075 | $964,828 | ||
Recoveries of loans previously charged-off | 121,974 | 117,650 | 112,738 | ||
Loan charge-offs | -246,601 | -306,316 | -455,200 | ||
Provision for loan and lease losses | 83,082 | 67,797 | 155,193 | ||
Allowance for loans sold or transferred to hoans held for sale | -1,129 | -336 | -8,484 | ||
ALLL balance, end of period | 605,196 | 647,870 | 964,828 | ||
AULC balance, beginning of period | 62,899 | 40,651 | 48,456 | ||
Provision for unfunded loan commitments and letters of credit | -2,093 | 22,248 | -7,805 | ||
AULC Balance, end of period | 60,806 | 62,899 | 40,651 | ||
ACL balance, end of period | 666,002 | 710,769 | 809,726 | ||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 19,033,146 | 17,594,276 | |||
Total commercial real estate | 5,197,403 | 4,850,094 | |||
Automobile | 8,689,902 | 6,638,713 | |||
Home equity | 8,490,915 | 8,336,318 | |||
Residential mortgage | 5,830,609 | 5,321,088 | |||
Other consumer | 413,751 | 380,011 | |||
Automobile loans including automobile loans transferred to loans held for sale | 8,689,902 | 6,638,713 | |||
Pass [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 17,888,295 | 16,688,106 | |||
Total commercial real estate | 4,886,720 | 4,395,855 | |||
OLEM [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 505,044 | 343,166 | |||
Total commercial real estate | 74,234 | 71,403 | |||
Substandard [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 630,704 | 548,030 | |||
Total commercial real estate | 226,071 | 376,880 | |||
Doubtful [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 9,103 | 14,974 | |||
Total commercial real estate | 10,378 | 5,956 | |||
750+[Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 5,087,751 | ||||
Residential mortgage | 3,285,904 | ||||
Other consumer | 195,128 | ||||
Automobile loans including automobile loans transferred to loans held for sale | 4,165,811 | 2,987,323 | |||
650-749 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 2,521,523 | ||||
Residential mortgage | 1,786,272 | ||||
Other consumer | 187,832 | ||||
Automobile loans including automobile loans transferred to loans held for sale | 3,249,141 | 2,517,756 | |||
Less than 650 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 631,977 | ||||
Residential mortgage | 666,745 | ||||
Other consumer | 30,582 | ||||
Automobile loans including automobile loans transferred to loans held for sale | 1,028,381 | 945,604 | |||
Other (2) [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 249,664 | ||||
Residential mortgage | 91,688 | ||||
Other consumer | 209 | ||||
Automobile loans including automobile loans transferred to loans held for sale | 246,569 | 188,030 | |||
Commercial and industrial owner occupied [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 4,254,875 | 4,347,872 | |||
Commercial and industrial owner occupied [Member] | Pass [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 3,959,046 | 4,052,579 | |||
Commercial and industrial owner occupied [Member] | OLEM [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 117,637 | 130,645 | |||
Commercial and industrial owner occupied [Member] | Substandard [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 175,767 | 155,994 | |||
Commercial and industrial owner occupied [Member] | Doubtful [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 2,425 | 8,654 | |||
Commercial and industrial purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 23,228 | ||||
Commercial and industrial purchased impaired | Pass [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 3,915 | 5,015 | |||
Commercial and industrial purchased impaired | OLEM [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 741 | 661 | |||
Commercial and industrial purchased impaired | Substandard [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 14,901 | 27,693 | |||
Commercial and industrial purchased impaired | Doubtful [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 3,671 | 2,157 | |||
Commercial and industrial purchased impaired | Total | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 35,526 | ||||
Other commercial and industrial [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 14,755,043 | 13,210,878 | |||
Other commercial and industrial [Member] | Pass [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 13,925,334 | 12,630,512 | |||
Other commercial and industrial [Member] | OLEM [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 386,666 | 211,860 | |||
Other commercial and industrial [Member] | Substandard [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 440,036 | 364,343 | |||
Other commercial and industrial [Member] | Doubtful [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial and industrial | 3,007 | 4,163 | |||
Commercial and Industrial [Member] | |||||
Allowance For Credit Losses Roll Forward [Abstract] | |||||
ALLL balance, beginning of period | 265,801 | 241,051 | 275,367 | ||
Recoveries of loans previously charged-off | 44,531 | 29,514 | 37,227 | ||
Loan charge-offs | -76,654 | -45,904 | -101,475 | ||
Provision for loan and lease losses | 53,317 | 41,140 | 29,932 | ||
Allowance for loans sold or transferred to hoans held for sale | 0 | 0 | 0 | ||
ALLL balance, end of period | 286,995 | 265,801 | 275,367 | ||
AULC balance, beginning of period | 49,596 | 33,868 | 39,658 | ||
Provision for unfunded loan commitments and letters of credit | -608 | 15,728 | -5,790 | ||
AULC Balance, end of period | 48,988 | 49,596 | 33,868 | ||
ACL balance, end of period | 335,983 | 315,397 | 274,919 | ||
Commercial real estate retail properties [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 1,357,746 | 1,263,569 | |||
Commercial real estate retail properties [Member] | Pass [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 1,279,064 | 1,153,747 | |||
Commercial real estate retail properties [Member] | OLEM [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 10,204 | 16,003 | |||
Commercial real estate retail properties [Member] | Substandard [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 67,911 | 93,819 | |||
Commercial real estate retail properties [Member] | Doubtful [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 567 | 0 | |||
Commercial real estate Multi family [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 1,090,416 | 1,025,591 | |||
Commercial real estate Multi family [Member] | Pass [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 1,044,521 | 972,526 | |||
Commercial real estate Multi family [Member] | OLEM [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 12,608 | 16,540 | |||
Commercial real estate Multi family [Member] | Substandard [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 32,322 | 36,411 | |||
Commercial real estate Multi family [Member] | Doubtful [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 965 | 114 | |||
Commercial real estate office [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 980,303 | 942,293 | |||
Commercial real estate office [Member] | Pass [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 902,474 | 847,411 | |||
Commercial real estate office [Member] | OLEM [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 33,107 | 4,866 | |||
Commercial real estate office [Member] | Substandard [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 42,578 | 87,722 | |||
Commercial real estate office [Member] | Doubtful [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 2,144 | 2,294 | |||
Commercial real estate Industrial and warehouse [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 513,401 | 472,893 | |||
Commercial real estate Industrial and warehouse [Member] | Pass [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 487,454 | 431,057 | |||
Commercial real estate Industrial and warehouse [Member] | OLEM [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 7,877 | 14,138 | |||
Commercial real estate Industrial and warehouse [Member] | Substandard [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 17,781 | 27,698 | |||
Commercial real estate Industrial and warehouse [Member] | Doubtful [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 289 | 0 | |||
Commercial real estate purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 38,371 | ||||
Commercial real estate purchased impaired | Pass [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 6,914 | 13,127 | |||
Commercial real estate purchased impaired | OLEM [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 803 | 3,586 | |||
Commercial real estate purchased impaired | Substandard [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 25,460 | 62,577 | |||
Commercial real estate purchased impaired | Doubtful [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 5,194 | 2,783 | |||
Commercial real estate purchased impaired | Total | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 82,073 | ||||
Other commercial real estate [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 1,217,166 | 1,063,675 | |||
Other commercial real estate [Member] | Pass [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 1,166,293 | 977,987 | |||
Other commercial real estate [Member] | OLEM [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 9,635 | 16,270 | |||
Other commercial real estate [Member] | Substandard [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 40,019 | 68,653 | |||
Other commercial real estate [Member] | Doubtful [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Total commercial real estate | 1,219 | 765 | |||
Commercial Real Estate [Member] | |||||
Allowance For Credit Losses Roll Forward [Abstract] | |||||
ALLL balance, beginning of period | 162,557 | 285,369 | 388,706 | ||
Recoveries of loans previously charged-off | 34,071 | 44,658 | 39,622 | ||
Loan charge-offs | -24,704 | -69,512 | -118,051 | ||
Provision for loan and lease losses | -69,085 | -97,958 | -24,908 | ||
Allowance for loans sold or transferred to hoans held for sale | 0 | 0 | 0 | ||
ALLL balance, end of period | 102,839 | 162,557 | 388,706 | ||
AULC balance, beginning of period | 9,891 | 4,740 | 5,852 | ||
Provision for unfunded loan commitments and letters of credit | -3,850 | 5,151 | -1,112 | ||
AULC Balance, end of period | 6,041 | 9,891 | 4,740 | ||
ACL balance, end of period | 108,880 | 172,448 | 290,109 | ||
Automobile Loan [Member] | |||||
Allowance For Credit Losses Roll Forward [Abstract] | |||||
ALLL balance, beginning of period | 31,053 | 34,979 | 38,282 | ||
Recoveries of loans previously charged-off | 13,762 | 13,375 | 16,628 | ||
Loan charge-offs | -31,330 | -23,912 | -26,070 | ||
Provision for loan and lease losses | 19,981 | 6,611 | 12,964 | ||
Allowance for loans sold or transferred to hoans held for sale | 0 | 0 | -6,825 | ||
ALLL balance, end of period | 33,466 | 31,053 | 38,282 | ||
AULC balance, beginning of period | 0 | 0 | 0 | ||
Provision for unfunded loan commitments and letters of credit | 0 | 0 | 0 | ||
AULC Balance, end of period | 0 | 0 | 0 | ||
ACL balance, end of period | 33,466 | 31,053 | 34,979 | ||
Home equity secured by first-lien other [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 5,128,804 | 4,842,144 | |||
Home equity secured by first-lien other [Member] | 750+[Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 3,255,088 | 3,018,784 | |||
Home equity secured by first-lien other [Member] | 650-749 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 1,426,191 | 1,412,445 | |||
Home equity secured by first-lien other [Member] | Less than 650 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 283,152 | 299,681 | |||
Home equity secured by first-lien other [Member] | Other (2) [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 164,373 | 111,234 | |||
Home equity secured by junior-lien [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 3,362,111 | 3,494,174 | |||
Home equity secured by junior-lien [Member] | 750+[Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 1,832,663 | 1,811,102 | |||
Home equity secured by junior-lien [Member] | 650-749 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 1,095,332 | 1,213,024 | |||
Home equity secured by junior-lien [Member] | Less than 650 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 348,825 | 413,695 | |||
Home equity secured by junior-lien [Member] | Other (2) [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 85,291 | 56,353 | |||
Home Equity [Member] | |||||
Allowance For Credit Losses Roll Forward [Abstract] | |||||
ALLL balance, beginning of period | 111,131 | 118,764 | 143,873 | ||
Recoveries of loans previously charged-off | 17,526 | 15,921 | 7,907 | ||
Loan charge-offs | -54,473 | -98,184 | -124,286 | ||
Provision for loan and lease losses | 22,229 | 74,630 | 91,270 | ||
Allowance for loans sold or transferred to hoans held for sale | 0 | 0 | 0 | ||
ALLL balance, end of period | 96,413 | 111,131 | 143,873 | ||
AULC balance, beginning of period | 1,763 | 1,356 | 2,134 | ||
Provision for unfunded loan commitments and letters of credit | 161 | 407 | -778 | ||
AULC Balance, end of period | 1,924 | 1,763 | 1,356 | ||
ACL balance, end of period | 98,337 | 112,894 | 120,120 | ||
Home Equity [Member] | 750+[Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 4,829,886 | ||||
Home Equity [Member] | 650-749 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 2,625,469 | ||||
Home Equity [Member] | Less than 650 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 713,376 | ||||
Home Equity [Member] | Other (2) [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 167,587 | ||||
Home Equity [Member] | Total | |||||
Loan and lease balances by credit quality indicator | |||||
Home equity | 8,336,318 | ||||
Residential mortgage other | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 5,828,697 | 5,318,590 | |||
Residential mortgage other | 750+[Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 3,285,310 | 2,837,590 | |||
Residential mortgage other | 650-749 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 1,785,137 | 1,710,183 | |||
Residential mortgage other | Less than 650 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 666,562 | 699,541 | |||
Residential mortgage other | Other (2) [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 91,688 | 71,276 | |||
Residential mortgage purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 1,912 | ||||
Residential mortgage purchased impaired | 750+[Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 594 | 588 | |||
Residential mortgage purchased impaired | 650-749 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 1,135 | 989 | |||
Residential mortgage purchased impaired | Less than 650 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 183 | 921 | |||
Residential mortgage purchased impaired | Other (2) [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 0 | 0 | |||
Residential mortgage purchased impaired | Total | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 2,498 | ||||
Residential Mortgage [Member] | |||||
Allowance For Credit Losses Roll Forward [Abstract] | |||||
ALLL balance, beginning of period | 39,577 | 61,658 | 87,194 | ||
Recoveries of loans previously charged-off | 6,194 | 7,074 | 4,305 | ||
Loan charge-offs | -25,946 | -34,236 | -52,228 | ||
Provision for loan and lease losses | 27,386 | 5,417 | 24,046 | ||
Allowance for loans sold or transferred to hoans held for sale | 0 | -336 | -1,659 | ||
ALLL balance, end of period | 47,211 | 39,577 | 87,194 | ||
AULC balance, beginning of period | 9 | 3 | 1 | ||
Provision for unfunded loan commitments and letters of credit | -1 | 6 | 2 | ||
AULC Balance, end of period | 8 | 9 | 3 | ||
ACL balance, end of period | 47,219 | 39,586 | 61,661 | ||
Residential Mortgage [Member] | 750+[Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 2,838,178 | ||||
Residential Mortgage [Member] | 650-749 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 1,711,172 | ||||
Residential Mortgage [Member] | Less than 650 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 700,462 | ||||
Residential Mortgage [Member] | Other (2) [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 71,276 | ||||
Residential Mortgage [Member] | Total | |||||
Loan and lease balances by credit quality indicator | |||||
Residential mortgage | 5,321,088 | ||||
Other consumer other | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 413,700 | 379,882 | |||
Other consumer other | 750+[Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 195,128 | 161,858 | |||
Other consumer other | 650-749 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 187,781 | 157,675 | |||
Other consumer other | Less than 650 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 30,582 | 45,370 | |||
Other consumer other | Other (2) [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 209 | 14,979 | |||
Other consumer purchased impaired | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 51 | ||||
Other consumer purchased impaired | 750+[Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 0 | 0 | |||
Other consumer purchased impaired | 650-749 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 51 | 60 | |||
Other consumer purchased impaired | Less than 650 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 0 | 69 | |||
Other consumer purchased impaired | Other (2) [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 0 | 0 | |||
Other consumer purchased impaired | Total | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 129 | ||||
Other Consumer loan [Member] | |||||
Allowance For Credit Losses Roll Forward [Abstract] | |||||
ALLL balance, beginning of period | 37,751 | 27,254 | 31,406 | ||
Recoveries of loans previously charged-off | 5,890 | 7,108 | 7,049 | ||
Loan charge-offs | -33,494 | -34,568 | -33,090 | ||
Provision for loan and lease losses | 29,254 | 37,957 | 21,889 | ||
Allowance for loans sold or transferred to hoans held for sale | -1,129 | 0 | 0 | ||
ALLL balance, end of period | 38,272 | 37,751 | 31,406 | ||
AULC balance, beginning of period | 1,640 | 684 | 811 | ||
Provision for unfunded loan commitments and letters of credit | 2,205 | 956 | -127 | ||
AULC Balance, end of period | 3,845 | 1,640 | 684 | ||
ACL balance, end of period | 42,117 | 39,391 | 27,938 | ||
Other Consumer loan [Member] | 750+[Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 161,858 | ||||
Other Consumer loan [Member] | 650-749 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 157,735 | ||||
Other Consumer loan [Member] | Less than 650 [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 45,439 | ||||
Other Consumer loan [Member] | Other (2) [Member] | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | 14,979 | ||||
Other Consumer loan [Member] | Total | |||||
Loan and lease balances by credit quality indicator | |||||
Other consumer | $380,011 |
Loans_and_Leases_and_Allowance5
Loans and Leases and Allowance for Credit Losses (Details 3) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | ||
Detailed impaired loan information by class | ||||
Ending balance of impaired loans with no allowance recorded | $149,316 | $179,944 | ||
Ending balance of impaired loans with allowance recorded | 1,063,224 | 952,003 | ||
Related Allowance | 78,342 | 62,880 | ||
Ending balance of impaired loans, total | 1,212,540 | 1,131,947 | ||
Average balance of impaired loans, total | 1,366,329 | 1,115,320 | ||
Commercial and industrial owner occupied [Member] | ||||
Detailed impaired loan information by class | ||||
Ending balance of impaired loans with no allowance recorded | 13,536 | 5,332 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 13,536 | [1] | 5,373 | |
Average balance of impaired loans with no allowance recorded | 5,740 | 4,473 | ||
Interest income recognized on impaired loans with no allowance recorded | 205 | 172 | ||
Ending balance of impaired loans with allowance recorded | 44,869 | 40,271 | ||
Unpaid principal balance of impaired loans with allowance recorded | 53,639 | [1] | 52,810 | [1] |
Related Allowance | 4,220 | 3,421 | ||
Average balance of impaired loans with allowance recorded | 40,192 | 41,469 | ||
Interest income recognized on impaired loans with allowance recorded | 1,557 | 1,390 | ||
Commercial and industrial purchased impaired | ||||
Detailed impaired loan information by class | ||||
Ending balance of impaired loans with no allowance recorded | 0 | 0 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 0 | [1] | 0 | |
Average balance of impaired loans with no allowance recorded | 0 | 0 | ||
Interest income recognized on impaired loans with no allowance recorded | 0 | 0 | ||
Ending balance of impaired loans with allowance recorded | 23,228 | 35,526 | ||
Unpaid principal balance of impaired loans with allowance recorded | 35,307 | 50,798 | ||
Related Allowance | 3,846 | 2,404 | ||
Average balance of impaired loans with allowance recorded | 32,253 | 47,442 | ||
Interest income recognized on impaired loans with allowance recorded | 6,973 | 4,708 | ||
Other commercial and industrial [Member] | ||||
Detailed impaired loan information by class | ||||
Ending balance of impaired loans with no allowance recorded | 24,309 | 11,884 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 26,858 | [1] | 15,031 | |
Average balance of impaired loans with no allowance recorded | 7,536 | 13,117 | ||
Interest income recognized on impaired loans with no allowance recorded | 375 | 640 | ||
Ending balance of impaired loans with allowance recorded | 134,279 | 50,829 | ||
Unpaid principal balance of impaired loans with allowance recorded | 162,908 | [1] | 64,497 | [1] |
Related Allowance | 6,829 | 2,708 | ||
Average balance of impaired loans with allowance recorded | 88,595 | 59,672 | ||
Interest income recognized on impaired loans with allowance recorded | 2,686 | 3,242 | ||
Commercial and Industrial [Member] | ||||
Detailed impaired loan information by class | ||||
Loans considered impaired due to status as a TDR | 62,737 | |||
Ending balance of impaired loans with no allowance recorded | 37,845 | 17,216 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 40,394 | [1] | 20,404 | |
Average balance of impaired loans with no allowance recorded | 13,276 | 17,590 | ||
Interest income recognized on impaired loans with no allowance recorded | 580 | 812 | ||
Ending balance of impaired loans with allowance recorded | 202,376 | [2] | 126,626 | |
Unpaid principal balance of impaired loans with allowance recorded | 251,854 | [1] | 168,105 | [1] |
Related Allowance | 14,895 | 8,533 | ||
Average balance of impaired loans with allowance recorded | 161,040 | 148,583 | ||
Interest income recognized on impaired loans with allowance recorded | 11,216 | 9,340 | ||
Ending balance of impaired loans, total | 240,221 | 143,842 | ||
Average balance of impaired loans, total | 174,316 | 166,173 | ||
Commercial Real Estate Retail Properties [Member] | ||||
Detailed impaired loan information by class | ||||
Ending balance of impaired loans with no allowance recorded | 61,915 | 55,773 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 91,627 | [1] | 64,780 | [1] |
Average balance of impaired loans with no allowance recorded | 53,121 | 46,764 | ||
Interest income recognized on impaired loans with no allowance recorded | 2,454 | 2,450 | ||
Ending balance of impaired loans with allowance recorded | 37,081 | 72,339 | ||
Unpaid principal balance of impaired loans with allowance recorded | 38,397 | [1] | 93,395 | [1] |
Related Allowance | 3,536 | 5,984 | ||
Average balance of impaired loans with allowance recorded | 63,393 | 64,414 | ||
Interest income recognized on impaired loans with allowance recorded | 1,983 | 1,936 | ||
Commercial real estate Multi family [Member] | ||||
Detailed impaired loan information by class | ||||
Ending balance of impaired loans with no allowance recorded | 0 | 0 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 0 | [1] | 0 | [1] |
Average balance of impaired loans with no allowance recorded | 0 | 3,627 | ||
Interest income recognized on impaired loans with no allowance recorded | 0 | 220 | ||
Ending balance of impaired loans with allowance recorded | 17,277 | 13,484 | ||
Unpaid principal balance of impaired loans with allowance recorded | 23,725 | [1] | 15,408 | [1] |
Related Allowance | 2,339 | 1,944 | ||
Average balance of impaired loans with allowance recorded | 16,897 | 14,922 | ||
Interest income recognized on impaired loans with allowance recorded | 659 | 651 | ||
Commercial real estate office [Member] | ||||
Detailed impaired loan information by class | ||||
Ending balance of impaired loans with no allowance recorded | 1,130 | 9,069 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 3,574 | [1] | 13,721 | [1] |
Average balance of impaired loans with no allowance recorded | 3,709 | 12,151 | ||
Interest income recognized on impaired loans with no allowance recorded | 311 | 1,161 | ||
Ending balance of impaired loans with allowance recorded | 52,953 | 50,307 | ||
Unpaid principal balance of impaired loans with allowance recorded | 56,268 | [1] | 54,921 | [1] |
Related Allowance | 8,399 | 9,927 | ||
Average balance of impaired loans with allowance recorded | 52,831 | 48,113 | ||
Interest income recognized on impaired loans with allowance recorded | 2,381 | 1,808 | ||
Commercial real estate Industrial and warehouse [Member] | ||||
Detailed impaired loan information by class | ||||
Ending balance of impaired loans with no allowance recorded | 3,447 | 9,682 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 3,506 | [1] | 10,803 | [1] |
Average balance of impaired loans with no allowance recorded | 5,012 | 10,586 | ||
Interest income recognized on impaired loans with no allowance recorded | 248 | 595 | ||
Ending balance of impaired loans with allowance recorded | 8,888 | 9,162 | ||
Unpaid principal balance of impaired loans with allowance recorded | 10,396 | [1] | 10,561 | [1] |
Related Allowance | 720 | 808 | ||
Average balance of impaired loans with allowance recorded | 9,092 | 15,322 | ||
Interest income recognized on impaired loans with allowance recorded | 274 | 541 | ||
Commercial real estate purchased impaired | ||||
Detailed impaired loan information by class | ||||
Ending balance of impaired loans with no allowance recorded | 38,371 | 82,073 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 91,075 | [1] | 154,869 | [3] |
Average balance of impaired loans with no allowance recorded | 59,424 | 104,513 | ||
Interest income recognized on impaired loans with no allowance recorded | 11,519 | 10,875 | ||
Ending balance of impaired loans with allowance recorded | 0 | 0 | ||
Unpaid principal balance of impaired loans with allowance recorded | 0 | [1] | 0 | |
Related Allowance | 0 | 0 | ||
Average balance of impaired loans with allowance recorded | 0 | 0 | ||
Interest income recognized on impaired loans with allowance recorded | 0 | 0 | ||
Other commercial real estate [Member] | ||||
Detailed impaired loan information by class | ||||
Ending balance of impaired loans with no allowance recorded | 6,608 | 6,002 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 6,815 | [1] | 6,924 | [1] |
Average balance of impaired loans with no allowance recorded | 6,598 | 7,954 | ||
Interest income recognized on impaired loans with no allowance recorded | 286 | 434 | ||
Ending balance of impaired loans with allowance recorded | 27,963 | 42,544 | ||
Unpaid principal balance of impaired loans with allowance recorded | 33,472 | [1] | 50,960 | [1] |
Related Allowance | 3,893 | 16,272 | ||
Average balance of impaired loans with allowance recorded | 241,513 | 36,687 | ||
Interest income recognized on impaired loans with allowance recorded | 1,831 | 1,547 | ||
Commercial Real Estate [Member] | ||||
Detailed impaired loan information by class | ||||
Loans considered impaired due to status as a TDR | 27,423 | |||
Ending balance of impaired loans with no allowance recorded | 111,471 | 162,599 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 196,597 | [1] | 251,097 | [1] |
Average balance of impaired loans with no allowance recorded | 127,864 | 185,595 | ||
Interest income recognized on impaired loans with no allowance recorded | 14,818 | 15,735 | ||
Ending balance of impaired loans with allowance recorded | 144,162 | [4] | 187,836 | |
Unpaid principal balance of impaired loans with allowance recorded | 162,258 | [1] | 225,245 | [1] |
Related Allowance | 18,887 | 34,935 | ||
Average balance of impaired loans with allowance recorded | 383,726 | 179,458 | ||
Interest income recognized on impaired loans with allowance recorded | 7,128 | 6,483 | ||
Ending balance of impaired loans, total | 255,633 | 350,435 | ||
Average balance of impaired loans, total | 511,590 | 365,053 | ||
Automobile Loan [Member] | ||||
Detailed impaired loan information by class | ||||
Ending balance of impaired loans with no allowance recorded | 0 | 0 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 0 | 0 | ||
Average balance of impaired loans with no allowance recorded | 0 | 0 | ||
Interest income recognized on impaired loans with no allowance recorded | 0 | 0 | ||
Ending balance of impaired loans with allowance recorded | 30,612 | [5] | 37,084 | [5] |
Unpaid principal balance of impaired loans with allowance recorded | 32,483 | [1],[5] | 38,758 | [1],[5] |
Related Allowance | 1,531 | [5] | 682 | [5] |
Average balance of impaired loans with allowance recorded | 34,637 | [5] | 39,861 | [5] |
Interest income recognized on impaired loans with allowance recorded | 2,637 | [5] | 2,955 | [5] |
Ending balance of impaired loans, total | 30,612 | 37,084 | ||
Average balance of impaired loans, total | 34,637 | 39,861 | ||
Home equity secured by first-lien other [Member] | ||||
Detailed impaired loan information by class | ||||
Ending balance of impaired loans with no allowance recorded | 0 | 0 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 0 | 0 | ||
Average balance of impaired loans with no allowance recorded | 0 | 0 | ||
Interest income recognized on impaired loans with no allowance recorded | 0 | 0 | ||
Ending balance of impaired loans with allowance recorded | 145,566 | [5] | 110,024 | [5] |
Unpaid principal balance of impaired loans with allowance recorded | 157,978 | [1],[5] | 116,846 | [1],[5] |
Related Allowance | 8,296 | [5] | 2,396 | [5] |
Average balance of impaired loans with allowance recorded | 126,602 | [5] | 96,184 | [5] |
Interest income recognized on impaired loans with allowance recorded | 5,496 | [5] | 4,116 | [5] |
Home equity secured by junior-lien [Member] | ||||
Detailed impaired loan information by class | ||||
Ending balance of impaired loans with no allowance recorded | 0 | 0 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 0 | 0 | ||
Average balance of impaired loans with no allowance recorded | 0 | 0 | ||
Interest income recognized on impaired loans with no allowance recorded | 0 | 0 | ||
Ending balance of impaired loans with allowance recorded | 164,880 | [5] | 98,957 | [5] |
Unpaid principal balance of impaired loans with allowance recorded | 208,118 | [1],[5] | 143,967 | [1],[5] |
Related Allowance | 17,731 | [5] | 5,607 | [5] |
Average balance of impaired loans with allowance recorded | 132,279 | [5] | 65,986 | [5] |
Interest income recognized on impaired loans with allowance recorded | 6,379 | [5] | 3,379 | [5] |
Home Equity [Member] | ||||
Detailed impaired loan information by class | ||||
Ending balance of impaired loans with no allowance recorded | 0 | 0 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 0 | 0 | ||
Average balance of impaired loans with no allowance recorded | 0 | 0 | ||
Interest income recognized on impaired loans with no allowance recorded | 0 | 0 | ||
Ending balance of impaired loans with allowance recorded | 310,446 | [5] | 208,981 | [5] |
Unpaid principal balance of impaired loans with allowance recorded | 366,096 | [1],[5] | 260,813 | [5] |
Related Allowance | 26,027 | [5] | 8,003 | [5] |
Average balance of impaired loans with allowance recorded | 258,881 | [5] | 162,170 | [5] |
Interest income recognized on impaired loans with allowance recorded | 11,875 | [5] | 7,495 | [5] |
Ending balance of impaired loans, total | 310,446 | 208,981 | ||
Average balance of impaired loans, total | 258,881 | 162,170 | ||
Residential mortgage other | ||||
Detailed impaired loan information by class | ||||
Ending balance of impaired loans with no allowance recorded | 0 | 0 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 0 | 0 | ||
Average balance of impaired loans with no allowance recorded | 0 | 0 | ||
Interest income recognized on impaired loans with no allowance recorded | 0 | 0 | ||
Ending balance of impaired loans with allowance recorded | 369,577 | [5] | 387,937 | [5] |
Unpaid principal balance of impaired loans with allowance recorded | 415,280 | [1],[5] | 427,924 | [1],[5] |
Related Allowance | 16,535 | [5] | 10,555 | [5] |
Average balance of impaired loans with allowance recorded | 381,745 | [5] | 377,530 | [5] |
Interest income recognized on impaired loans with allowance recorded | 11,594 | [5] | 11,752 | [5] |
Residential mortgage purchased impaired | ||||
Detailed impaired loan information by class | ||||
Ending balance of impaired loans with no allowance recorded | 0 | 0 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 0 | [1] | 0 | |
Average balance of impaired loans with no allowance recorded | 0 | 0 | ||
Interest income recognized on impaired loans with no allowance recorded | 0 | 0 | ||
Ending balance of impaired loans with allowance recorded | 1,912 | 2,498 | ||
Unpaid principal balance of impaired loans with allowance recorded | 3,096 | 3,681 | ||
Related Allowance | 8 | 36 | ||
Average balance of impaired loans with allowance recorded | 2,281 | 2,285 | ||
Interest income recognized on impaired loans with allowance recorded | 574 | 331 | ||
Residential Mortgage [Member] | ||||
Detailed impaired loan information by class | ||||
Amount of TDRs guaranteed by the U.S. government | 24,470 | |||
Ending balance of impaired loans with no allowance recorded | 0 | 0 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 0 | [1] | 0 | |
Average balance of impaired loans with no allowance recorded | 0 | 0 | ||
Interest income recognized on impaired loans with no allowance recorded | 0 | 0 | ||
Ending balance of impaired loans with allowance recorded | 371,489 | [5],[6] | 390,435 | |
Unpaid principal balance of impaired loans with allowance recorded | 418,376 | [1],[5] | 431,605 | |
Related Allowance | 16,543 | [5] | 10,591 | |
Average balance of impaired loans with allowance recorded | 384,026 | [5] | 379,815 | |
Interest income recognized on impaired loans with allowance recorded | 12,168 | [5] | 12,083 | |
Ending balance of impaired loans, total | 371,489 | 390,435 | ||
Average balance of impaired loans, total | 384,026 | 379,815 | ||
Other consumer other | ||||
Detailed impaired loan information by class | ||||
Ending balance of impaired loans with no allowance recorded | 0 | 0 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 0 | 0 | ||
Average balance of impaired loans with no allowance recorded | 0 | 0 | ||
Interest income recognized on impaired loans with no allowance recorded | 0 | 0 | ||
Ending balance of impaired loans with allowance recorded | 4,088 | [5] | 1,041 | [5] |
Unpaid principal balance of impaired loans with allowance recorded | 4,209 | [1],[5] | 1,041 | [1],[5] |
Related Allowance | 214 | [5] | 136 | [5] |
Average balance of impaired loans with allowance recorded | 2,796 | [5] | 2,111 | [5] |
Interest income recognized on impaired loans with allowance recorded | 202 | [5] | 116 | [5] |
Other consumer purchased impaired | ||||
Detailed impaired loan information by class | ||||
Ending balance of impaired loans with no allowance recorded | 0 | 129 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 0 | [1] | 219 | |
Average balance of impaired loans with no allowance recorded | 0 | 137 | ||
Interest income recognized on impaired loans with no allowance recorded | 0 | 17 | ||
Ending balance of impaired loans with allowance recorded | 51 | 0 | ||
Unpaid principal balance of impaired loans with allowance recorded | 123 | 0 | ||
Related Allowance | 245 | 0 | ||
Average balance of impaired loans with allowance recorded | 83 | 0 | ||
Interest income recognized on impaired loans with allowance recorded | 15 | 0 | ||
Other Consumer loan [Member] | ||||
Detailed impaired loan information by class | ||||
Ending balance of impaired loans with no allowance recorded | 0 | 129 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 0 | [1] | 219 | |
Average balance of impaired loans with no allowance recorded | 0 | 137 | ||
Interest income recognized on impaired loans with no allowance recorded | 0 | 17 | ||
Ending balance of impaired loans with allowance recorded | 4,139 | [5] | 1,041 | |
Unpaid principal balance of impaired loans with allowance recorded | 4,332 | [1],[5] | 1,041 | |
Related Allowance | 459 | [5] | 136 | |
Average balance of impaired loans with allowance recorded | 2,879 | [5] | 2,111 | |
Interest income recognized on impaired loans with allowance recorded | 217 | [5] | 116 | |
Ending balance of impaired loans, total | 4,139 | 1,170 | ||
Average balance of impaired loans, total | $2,879 | $2,248 | ||
[1] | The differences between the ending balance and unpaid principal balance amounts represent partial charge-offs. | |||
[2] | At December 31, 2014, $62,737 thousand of the $202,376 thousand C&I loans with an allowance recorded were considered impaired due to their status as a TDR. At December 31, 2013, $43,805 thousand of the $126,626 thousand C&I loans with an allowance recorded were considered impaired due to their status as a TDR. | |||
[3] | Represents decrease in value due to passage of time, including the impact from both regularly scheduled loan principal payments and partial loan paydowns. | |||
[4] | At December 31, 2014, $27,423 thousand of the $144,162 thousand CRE loans with an allowance recorded were considered impaired due to their status as a TDR. At December 31, 2013, $24,805 thousand of the $187,836 thousand CRE loans with an allowance recorded were considered impaired due to their status as a TDR. | |||
[5] | All automobile, home equity, residential mortgage, and other consumer impaired loans included in these tables are considered impaired due to their status as a TDR. | |||
[6] | At December 31, 2014, $24,470 thousand of the $371,489 thousand residential mortgage loans with an allowance recorded were guaranteed by the U.S. government. At December 31, 2013, $49,225 thousand of the $390,435 thousand residential mortgage loans with an allowance recorded were guaranteed by the U.S. government. |
Recovered_Sheet1
Loans and Leases And Allowance For Credit Losses (Details 4) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Portion of ALLL ending balance | ||||
Attributable to loans purchased with deteriorated credit quality | $4,099 | $2,440 | ||
Attributable to loans individually evaluated for impairment | 74,243 | 60,440 | ||
Attributable to loans collectively evaluated for impairment | 526,854 | 584,990 | ||
Total ALLL balance, end of period | 605,196 | 647,870 | 769,075 | 964,828 |
Portion of loans and leases ending balance | ||||
Purchased with deteriorated credit quality | 63,562 | 120,226 | ||
Individually evaluated for impairment | 1,148,978 | 1,011,721 | ||
Collectively evaluated for impairment | 46,443,186 | 41,988,553 | ||
Total loans evaluated for impairment | 47,655,726 | 43,120,500 | ||
Commercial and Industrial [Member] | ||||
Portion of ALLL ending balance | ||||
Attributable to loans purchased with deteriorated credit quality | 3,846 | 2,404 | ||
Attributable to loans individually evaluated for impairment | 11,049 | 6,129 | ||
Attributable to loans collectively evaluated for impairment | 272,100 | 257,268 | ||
Total ALLL balance, end of period | 286,995 | 265,801 | 241,051 | 275,367 |
Portion of loans and leases ending balance | ||||
Purchased with deteriorated credit quality | 23,228 | 35,526 | ||
Individually evaluated for impairment | 216,993 | 108,316 | ||
Collectively evaluated for impairment | 18,792,925 | 17,450,434 | ||
Total loans evaluated for impairment | 19,033,146 | 17,594,276 | ||
Commercial Real Estate [Member] | ||||
Portion of ALLL ending balance | ||||
Attributable to loans purchased with deteriorated credit quality | 0 | 0 | ||
Attributable to loans individually evaluated for impairment | 18,887 | 34,935 | ||
Attributable to loans collectively evaluated for impairment | 83,952 | 127,622 | ||
Total ALLL balance, end of period | 102,839 | 162,557 | 285,369 | 388,706 |
Portion of loans and leases ending balance | ||||
Purchased with deteriorated credit quality | 38,371 | 82,073 | ||
Individually evaluated for impairment | 217,262 | 268,362 | ||
Collectively evaluated for impairment | 4,941,770 | 4,499,659 | ||
Total loans evaluated for impairment | 5,197,403 | 4,850,094 | ||
Automobile Loan [Member] | ||||
Portion of ALLL ending balance | ||||
Attributable to loans purchased with deteriorated credit quality | 0 | 0 | ||
Attributable to loans individually evaluated for impairment | 1,531 | 682 | ||
Attributable to loans collectively evaluated for impairment | 31,935 | 30,371 | ||
Total ALLL balance, end of period | 33,466 | 31,053 | 34,979 | 38,282 |
Portion of loans and leases ending balance | ||||
Purchased with deteriorated credit quality | 0 | 0 | ||
Individually evaluated for impairment | 30,612 | 37,084 | ||
Collectively evaluated for impairment | 8,659,290 | 6,601,629 | ||
Total loans evaluated for impairment | 8,689,902 | 6,638,713 | ||
Home Equity [Member] | ||||
Portion of ALLL ending balance | ||||
Attributable to loans purchased with deteriorated credit quality | 0 | 0 | ||
Attributable to loans individually evaluated for impairment | 26,027 | 8,003 | ||
Attributable to loans collectively evaluated for impairment | 70,386 | 103,128 | ||
Total ALLL balance, end of period | 96,413 | 111,131 | 118,764 | 143,873 |
Portion of loans and leases ending balance | ||||
Purchased with deteriorated credit quality | 0 | 0 | ||
Individually evaluated for impairment | 310,446 | 208,981 | ||
Collectively evaluated for impairment | 8,180,469 | 8,127,337 | ||
Total loans evaluated for impairment | 8,490,915 | 8,336,318 | ||
Residential Mortgage [Member] | ||||
Portion of ALLL ending balance | ||||
Attributable to loans purchased with deteriorated credit quality | 8 | 36 | ||
Attributable to loans individually evaluated for impairment | 16,535 | 10,555 | ||
Attributable to loans collectively evaluated for impairment | 30,668 | 28,986 | ||
Total ALLL balance, end of period | 47,211 | 39,577 | 61,658 | 87,194 |
Portion of loans and leases ending balance | ||||
Purchased with deteriorated credit quality | 1,912 | 2,498 | ||
Individually evaluated for impairment | 369,577 | 387,937 | ||
Collectively evaluated for impairment | 5,459,120 | 4,930,653 | ||
Total loans evaluated for impairment | 5,830,609 | 5,321,088 | ||
Other Consumer loan [Member] | ||||
Portion of ALLL ending balance | ||||
Attributable to loans purchased with deteriorated credit quality | 245 | 0 | ||
Attributable to loans individually evaluated for impairment | 214 | 136 | ||
Attributable to loans collectively evaluated for impairment | 37,813 | 37,615 | ||
Total ALLL balance, end of period | 38,272 | 37,751 | 27,254 | 31,406 |
Portion of loans and leases ending balance | ||||
Purchased with deteriorated credit quality | 51 | 129 | ||
Individually evaluated for impairment | 4,088 | 1,041 | ||
Collectively evaluated for impairment | 409,612 | 378,841 | ||
Total loans evaluated for impairment | $413,751 | $380,011 |
Loans_and_Leases_and_Allowance6
Loans and Leases and Allowance For Credit Losses (Textuals) (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
D | ||||
Loans and Leases (Textuals) | ||||
Amount of security for borrowing and advances | $18,000,000,000 | |||
All loans with an outstanding balance which evaluated on quarterly basis for impairment | 1,000,000 | |||
Amount guaranteed by U.S. Government | 55,012,000 | 87,985,000 | ||
Redefault status number of days | 90 | |||
Amount of NAL foregone interest | 20,600,000 | 23,400,000 | 40,400,000 | |
Amount of TDR foregone interest | 45,000,000 | 43,900,000 | 41,200,000 | |
Amount of interest recorded to interest income on NALs | 8,400,000 | 5,000,000 | 4,800,000 | |
Amount of interest recorded to interest income on TDRs | 38,600,000 | 35,700,000 | 32,200,000 | |
Aggregate amount of net unamortized deferred loan origination fees and net unearned income | 178,700,000 | 192,900,000 | ||
Loans transfered to available-for-sale securities | 0 | 600,435,000 | 0 | |
Lease Financing Receivables Textuals [Abstract] | ||||
Capital Leases, Future Minimum Payments Receivable | 1,100,000,000 | |||
Capital Leases, Future Minimum Payments Receivable, Current | 300,000,000 | |||
Capital Leases, Future Minimum Payments, Receivable in Two Years | 200,000,000 | |||
Capital Leases, Future Minimum Payments, Receivable in Three Years | 200,000,000 | |||
Capital Leases, Future Minimum Payments, Receivable in Four Years | 100,000,000 | |||
Capital Leases, Future Minimum Payments, Receivable in Five Years | 100,000,000 | |||
Capital Leases, Future Minimum Payments, Receivable Due Thereafter | $200,000,000 | |||
Home equity secured by first-lien other [Member] | ||||
Loans and Leases (Textuals) | ||||
Nonaccrual status number of days past due | 150 | |||
Loans charged off or written down past due | 150 | |||
Home equity secured by junior-lien [Member] | ||||
Loans and Leases (Textuals) | ||||
Nonaccrual status number of days past due | 120 | |||
Loans charged off or written down past due | 120 | |||
Residential Mortgage [Member] | ||||
Loans and Leases (Textuals) | ||||
Nonaccrual status number of days past due | 150 | |||
Loans charged off or written down past due | 150 | |||
Commercial and Industrial and Commercial Real Estate [Member] | ||||
Loans and Leases (Textuals) | ||||
Nonaccrual status number of days past due | 90 | |||
Loans charged off or written down past due | 90 | |||
Automobile and other consumer loans [Member] | ||||
Loans and Leases (Textuals) | ||||
Loans charged off or written down past due | 120 |
Loans_and_Leases_and_Allowance7
Loans and Leases and Allowance For Credit Losses (TDR 1) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
contracts | contracts | |
Commercial and industrial owner occupied [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 123 | 102 |
Post-Modification Outstanding Balance | $36,680 | $29,630 |
Financial effects of modification | 320 | -141 |
Number of redefaulted contracts, actual | 7 | 17 |
Ending balance of redefaulted TDRs | 1,176 | 2,365 |
Commercial and industrial owner occupied [Member] | Interest Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 19 | 22 |
Post-Modification Outstanding Balance | 2,484 | 6,601 |
Financial effects of modification | 20 | -466 |
Number of redefaulted contracts, actual | 0 | 0 |
Ending balance of redefaulted TDRs | 0 | 0 |
Commercial and industrial owner occupied [Member] | Amortization Or Maturity Date Change [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 97 | 64 |
Post-Modification Outstanding Balance | 32,145 | 15,662 |
Financial effects of modification | 336 | -12 |
Number of redefaulted contracts, actual | 6 | 10 |
Ending balance of redefaulted TDRs | 946 | 1,144 |
Commercial and industrial owner occupied [Member] | Other Concession [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 7 | 16 |
Post-Modification Outstanding Balance | 2,051 | 7,367 |
Financial effects of modification | -36 | 337 |
Number of redefaulted contracts, actual | 1 | 7 |
Ending balance of redefaulted TDRs | 230 | 1,221 |
Other commercial and industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 331 | 181 |
Post-Modification Outstanding Balance | 207,486 | 147,077 |
Financial effects of modification | -4,396 | -908 |
Number of redefaulted contracts, actual | 18 | 17 |
Ending balance of redefaulted TDRs | 1,622 | 476 |
Other commercial and industrial [Member] | Interest Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 25 | 26 |
Post-Modification Outstanding Balance | 50,534 | 75,447 |
Financial effects of modification | -1,982 | -1,040 |
Number of redefaulted contracts, actual | 1 | 0 |
Ending balance of redefaulted TDRs | 30 | 0 |
Other commercial and industrial [Member] | Amortization Or Maturity Date Change [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 285 | 120 |
Post-Modification Outstanding Balance | 149,339 | 53,340 |
Financial effects of modification | -2,407 | 1,295 |
Number of redefaulted contracts, actual | 14 | 17 |
Ending balance of redefaulted TDRs | 1,555 | 476 |
Other commercial and industrial [Member] | Other Concession [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 21 | 35 |
Post-Modification Outstanding Balance | 7,613 | 18,290 |
Financial effects of modification | -7 | -1,163 |
Number of redefaulted contracts, actual | 3 | 0 |
Ending balance of redefaulted TDRs | 37 | 0 |
Commercial real estate retail properties [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 38 | 37 |
Post-Modification Outstanding Balance | 52,561 | 48,508 |
Financial effects of modification | 118 | 3,593 |
Number of redefaulted contracts, actual | 1 | 6 |
Ending balance of redefaulted TDRs | 483 | 1,481 |
Commercial real estate retail properties [Member] | Interest Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 5 | 4 |
Post-Modification Outstanding Balance | 11,381 | 1,116 |
Financial effects of modification | 420 | -8 |
Number of redefaulted contracts, actual | 0 | 1 |
Ending balance of redefaulted TDRs | 0 | 302 |
Commercial real estate retail properties [Member] | Amortization Or Maturity Date Change [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 24 | 21 |
Post-Modification Outstanding Balance | 27,415 | 27,550 |
Financial effects of modification | -267 | 4,159 |
Number of redefaulted contracts, actual | 1 | 4 |
Ending balance of redefaulted TDRs | 483 | 993 |
Commercial real estate retail properties [Member] | Other Concession [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 9 | 12 |
Post-Modification Outstanding Balance | 13,765 | 19,842 |
Financial effects of modification | -35 | -558 |
Number of redefaulted contracts, actual | 0 | 1 |
Ending balance of redefaulted TDRs | 0 | 186 |
Commercial real estate Multi family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 68 | 31 |
Post-Modification Outstanding Balance | 18,291 | 14,874 |
Financial effects of modification | 179 | 420 |
Number of redefaulted contracts, actual | 5 | 2 |
Ending balance of redefaulted TDRs | 3,003 | 225 |
Commercial real estate Multi family [Member] | Interest Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 20 | 10 |
Post-Modification Outstanding Balance | 3,484 | 4,444 |
Financial effects of modification | -75 | 7 |
Number of redefaulted contracts, actual | 0 | 0 |
Ending balance of redefaulted TDRs | 0 | 0 |
Commercial real estate Multi family [Member] | Amortization Or Maturity Date Change [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 40 | 16 |
Post-Modification Outstanding Balance | 9,791 | 2,345 |
Financial effects of modification | 197 | 415 |
Number of redefaulted contracts, actual | 4 | 2 |
Ending balance of redefaulted TDRs | 2,827 | 225 |
Commercial real estate Multi family [Member] | Other Concession [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 8 | 5 |
Post-Modification Outstanding Balance | 5,016 | 8,085 |
Financial effects of modification | 57 | -2 |
Number of redefaulted contracts, actual | 1 | 0 |
Ending balance of redefaulted TDRs | 176 | 0 |
Commercial real estate office [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 29 | 29 |
Post-Modification Outstanding Balance | 53,753 | 25,936 |
Financial effects of modification | -3,578 | 2,402 |
Number of redefaulted contracts, actual | 3 | 2 |
Ending balance of redefaulted TDRs | 1,738 | 1,131 |
Commercial real estate office [Member] | Interest Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 2 | 7 |
Post-Modification Outstanding Balance | 120 | 6,504 |
Financial effects of modification | -1 | 1,656 |
Number of redefaulted contracts, actual | 0 | 0 |
Ending balance of redefaulted TDRs | 0 | 0 |
Commercial real estate office [Member] | Amortization Or Maturity Date Change [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 22 | 16 |
Post-Modification Outstanding Balance | 18,157 | 12,388 |
Financial effects of modification | -424 | 91 |
Number of redefaulted contracts, actual | 3 | 2 |
Ending balance of redefaulted TDRs | 1,738 | 1,131 |
Commercial real estate office [Member] | Other Concession [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 5 | 6 |
Post-Modification Outstanding Balance | 35,476 | 7,044 |
Financial effects of modification | -3,153 | 655 |
Number of redefaulted contracts, actual | 0 | 0 |
Ending balance of redefaulted TDRs | 0 | 0 |
Commercial real estate Industrial and warehouse [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 20 | 11 |
Post-Modification Outstanding Balance | 14,210 | 12,618 |
Financial effects of modification | 164 | -661 |
Number of redefaulted contracts, actual | 2 | 2 |
Ending balance of redefaulted TDRs | 2,095 | 1,087 |
Commercial real estate Industrial and warehouse [Member] | Interest Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 2 | 1 |
Post-Modification Outstanding Balance | 4,046 | 2,682 |
Financial effects of modification | 0 | -476 |
Number of redefaulted contracts, actual | 1 | 0 |
Ending balance of redefaulted TDRs | 1,339 | 0 |
Commercial real estate Industrial and warehouse [Member] | Amortization Or Maturity Date Change [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 17 | 9 |
Post-Modification Outstanding Balance | 9,187 | 4,069 |
Financial effects of modification | 164 | -185 |
Number of redefaulted contracts, actual | 1 | 1 |
Ending balance of redefaulted TDRs | 756 | 361 |
Commercial real estate Industrial and warehouse [Member] | Other Concession [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 1 | 1 |
Post-Modification Outstanding Balance | 977 | 5,867 |
Financial effects of modification | 0 | 0 |
Number of redefaulted contracts, actual | 0 | 1 |
Ending balance of redefaulted TDRs | 0 | 726 |
Other commercial real estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 67 | 53 |
Post-Modification Outstanding Balance | 83,386 | 38,582 |
Financial effects of modification | -2,770 | 4,918 |
Number of redefaulted contracts, actual | 3 | 5 |
Ending balance of redefaulted TDRs | 927 | 779 |
Other commercial real estate [Member] | Interest Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 8 | 19 |
Post-Modification Outstanding Balance | 5,224 | 10,996 |
Financial effects of modification | 146 | 96 |
Number of redefaulted contracts, actual | 1 | 0 |
Ending balance of redefaulted TDRs | 169 | 0 |
Other commercial real estate [Member] | Amortization Or Maturity Date Change [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 55 | 21 |
Post-Modification Outstanding Balance | 76,353 | 17,851 |
Financial effects of modification | -2,789 | 4,923 |
Number of redefaulted contracts, actual | 2 | 4 |
Ending balance of redefaulted TDRs | 758 | 774 |
Other commercial real estate [Member] | Other Concession [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 4 | 13 |
Post-Modification Outstanding Balance | 1,809 | 9,735 |
Financial effects of modification | -127 | -101 |
Number of redefaulted contracts, actual | 0 | 1 |
Ending balance of redefaulted TDRs | 0 | 5 |
Automobile Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 2,597 | 2,986 |
Post-Modification Outstanding Balance | 17,816 | 17,274 |
Financial effects of modification | 232 | 225 |
Number of redefaulted contracts, actual | 93 | 175 |
Ending balance of redefaulted TDRs | 702 | 1,109 |
Automobile Loan [Member] | Interest Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 92 | 14 |
Post-Modification Outstanding Balance | 758 | 106 |
Financial effects of modification | 15 | 0 |
Number of redefaulted contracts, actual | 0 | 1 |
Ending balance of redefaulted TDRs | 0 | 112 |
Automobile Loan [Member] | Amortization Or Maturity Date Change [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 1,880 | 1,659 |
Post-Modification Outstanding Balance | 12,120 | 9,420 |
Financial effects of modification | 151 | -76 |
Number of redefaulted contracts, actual | 40 | 37 |
Ending balance of redefaulted TDRs | 328 | 380 |
Automobile Loan [Member] | Chapter 7 Bankruptcy | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 625 | 1,313 |
Post-Modification Outstanding Balance | 4,938 | 7,748 |
Financial effects of modification | 66 | 301 |
Number of redefaulted contracts, actual | 53 | 137 |
Ending balance of redefaulted TDRs | 374 | 617 |
Automobile Loan [Member] | Other Concession [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 0 | 0 |
Post-Modification Outstanding Balance | 0 | 0 |
Financial effects of modification | 0 | 0 |
Number of redefaulted contracts, actual | 0 | 0 |
Ending balance of redefaulted TDRs | 0 | 0 |
Residential Mortgage [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 547 | 982 |
Post-Modification Outstanding Balance | 66,880 | 111,656 |
Financial effects of modification | 1,291 | 1,771 |
Number of redefaulted contracts, actual | 130 | 155 |
Ending balance of redefaulted TDRs | 13,677 | 18,752 |
Residential Mortgage [Member] | Interest Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 27 | 65 |
Post-Modification Outstanding Balance | 3,692 | 11,662 |
Financial effects of modification | 19 | 3 |
Number of redefaulted contracts, actual | 11 | 4 |
Ending balance of redefaulted TDRs | 1,516 | 424 |
Residential Mortgage [Member] | Amortization Or Maturity Date Change [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 333 | 442 |
Post-Modification Outstanding Balance | 44,027 | 58,344 |
Financial effects of modification | 552 | 384 |
Number of redefaulted contracts, actual | 82 | 78 |
Ending balance of redefaulted TDRs | 8,974 | 11,263 |
Residential Mortgage [Member] | Chapter 7 Bankruptcy | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 182 | 458 |
Post-Modification Outstanding Balance | 18,635 | 39,813 |
Financial effects of modification | 715 | 1,345 |
Number of redefaulted contracts, actual | 37 | 71 |
Ending balance of redefaulted TDRs | 3,187 | 6,647 |
Residential Mortgage [Member] | Other Concession [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 5 | 17 |
Post-Modification Outstanding Balance | 526 | 1,837 |
Financial effects of modification | 5 | 39 |
Number of redefaulted contracts, actual | 0 | 2 |
Ending balance of redefaulted TDRs | 0 | 418 |
Home equity secured by first-lien other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 587 | 670 |
Post-Modification Outstanding Balance | 45,740 | 46,511 |
Financial effects of modification | 440 | 813 |
Number of redefaulted contracts, actual | 37 | 23 |
Ending balance of redefaulted TDRs | 3,449 | 1,951 |
Home equity secured by first-lien other [Member] | Interest Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 193 | 134 |
Post-Modification Outstanding Balance | 15,172 | 12,244 |
Financial effects of modification | 764 | 1,149 |
Number of redefaulted contracts, actual | 5 | 1 |
Ending balance of redefaulted TDRs | 335 | 87 |
Home equity secured by first-lien other [Member] | Amortization Or Maturity Date Change [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 289 | 279 |
Post-Modification Outstanding Balance | 23,272 | 19,280 |
Financial effects of modification | -1,051 | -1,084 |
Number of redefaulted contracts, actual | 16 | 6 |
Ending balance of redefaulted TDRs | 2,109 | 629 |
Home equity secured by first-lien other [Member] | Chapter 7 Bankruptcy | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 105 | 257 |
Post-Modification Outstanding Balance | 7,296 | 14,987 |
Financial effects of modification | 727 | 748 |
Number of redefaulted contracts, actual | 16 | 16 |
Ending balance of redefaulted TDRs | 1,005 | 1,235 |
Home equity secured by first-lien other [Member] | Other Concession [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 0 | 0 |
Post-Modification Outstanding Balance | 0 | 0 |
Financial effects of modification | 0 | 0 |
Number of redefaulted contracts, actual | 0 | 0 |
Ending balance of redefaulted TDRs | 0 | 0 |
Home equity secured by junior-lien [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 1,855 | 3,080 |
Post-Modification Outstanding Balance | 68,103 | 71,871 |
Financial effects of modification | -3,518 | 28,382 |
Number of redefaulted contracts, actual | 71 | 50 |
Ending balance of redefaulted TDRs | 2,472 | 1,196 |
Home equity secured by junior-lien [Member] | Interest Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 187 | 25 |
Post-Modification Outstanding Balance | 6,960 | 1,179 |
Financial effects of modification | 296 | 190 |
Number of redefaulted contracts, actual | 1 | 1 |
Ending balance of redefaulted TDRs | 11 | 0 |
Home equity secured by junior-lien [Member] | Amortization Or Maturity Date Change [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 1,467 | 1,491 |
Post-Modification Outstanding Balance | 58,129 | 55,389 |
Financial effects of modification | -6,955 | -5,431 |
Number of redefaulted contracts, actual | 31 | 9 |
Ending balance of redefaulted TDRs | 1,841 | 478 |
Home equity secured by junior-lien [Member] | Chapter 7 Bankruptcy | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 201 | 1,564 |
Post-Modification Outstanding Balance | 3,014 | 15,303 |
Financial effects of modification | 3,141 | 33,623 |
Number of redefaulted contracts, actual | 39 | 40 |
Ending balance of redefaulted TDRs | 620 | 718 |
Home equity secured by junior-lien [Member] | Other Concession [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 0 | 0 |
Post-Modification Outstanding Balance | 0 | 0 |
Financial effects of modification | 0 | 0 |
Number of redefaulted contracts, actual | 0 | 0 |
Ending balance of redefaulted TDRs | 0 | 0 |
Other Consumer loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 80 | 52 |
Post-Modification Outstanding Balance | 2,409 | 988 |
Financial effects of modification | -35 | 82 |
Number of redefaulted contracts, actual | 0 | 3 |
Ending balance of redefaulted TDRs | 0 | 96 |
Other Consumer loan [Member] | Interest Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 7 | 5 |
Post-Modification Outstanding Balance | 123 | 306 |
Financial effects of modification | 3 | 48 |
Number of redefaulted contracts, actual | 0 | 0 |
Ending balance of redefaulted TDRs | 0 | 0 |
Other Consumer loan [Member] | Amortization Or Maturity Date Change [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 48 | 11 |
Post-Modification Outstanding Balance | 1,803 | 117 |
Financial effects of modification | 12 | 5 |
Number of redefaulted contracts, actual | 0 | 0 |
Ending balance of redefaulted TDRs | 0 | 0 |
Other Consumer loan [Member] | Chapter 7 Bankruptcy | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 25 | 36 |
Post-Modification Outstanding Balance | 483 | 565 |
Financial effects of modification | -50 | 29 |
Number of redefaulted contracts, actual | 0 | 3 |
Ending balance of redefaulted TDRs | 0 | 96 |
Other Consumer loan [Member] | Other Concession [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 0 | 0 |
Post-Modification Outstanding Balance | 0 | 0 |
Financial effects of modification | 0 | 0 |
Number of redefaulted contracts, actual | 0 | 0 |
Ending balance of redefaulted TDRs | 0 | 0 |
Total Loan Portfolio [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts, actual | 6,342 | 8,214 |
Post-Modification Outstanding Balance | 667,315 | 565,525 |
Financial effects of modification | -11,553 | 40,896 |
Number of redefaulted contracts, actual | 370 | 457 |
Ending balance of redefaulted TDRs | $31,344 | $30,648 |
AvailableforSale_and_Other_Sec1
Available-for-Sale and Other Securities (Maturities/Unrealized) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Investment maturity date range | ||
Amortized Cost, Under 1 year | $355,486 | $263,366 |
Fair Value, Under 1 year | 355,465 | 262,752 |
Amortized Cost, 1-5 years | 1,047,492 | 1,665,644 |
Fair Value, 1-5 years | 1,066,041 | 1,697,234 |
Amortized Cost, 6-10 years | 1,517,974 | 1,440,056 |
Fair Value, 6-10 years | 1,527,195 | 1,433,303 |
Amortized Cost, Over 10 years | 6,090,688 | 3,662,328 |
Fair Value, Over 10 years | 6,086,980 | 3,577,502 |
Amortized Cost | 182,924 | 212,968 |
Fair Value, Total | 124,664 | 133,240 |
Non-marketable equity securities, Amortized Cost Non-marketable equity securities, Amortized Cost | 331,559 | 320,991 |
Marketable equity securities, Amortized Cost | 16,687 | 16,522 |
Total investment securities, Amortized Cost | 9,359,886 | 7,368,907 |
Marketable equity securities, fair value | 17,430 | 16,971 |
Available-for-sale and other securities | 9,384,670 | 7,308,753 |
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | ||
Total investment securities, Amortized Cost | 9,359,886 | 7,368,907 |
Total investment securities, Unrealized Gross Losses | -92,770 | -152,696 |
Available-for-sale and other securities | 9,384,670 | 7,308,753 |
Investment securities in unrealized loss position | ||
Total temporarily impaired securities, less than 12 months, Fair value | 1,437,360 | 2,722,688 |
Total temporarily impaired securities, less than 12 months, Unrealized Losses | -12,949 | -67,184 |
Total temporarily impaired securities, over 12 months, Fair Value | 1,063,142 | 178,956 |
Total temporarily impaired securities, over 12 months, Unrealized Losses | -79,821 | -85,512 |
Total temporarily impaired securities, Fair Value | 2,500,502 | 2,901,644 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses, Total | -92,770 | -152,696 |
U.S. Treasury [Member] | ||
Investment maturity date range | ||
Total investment securities, Amortized Cost | 5,435 | 51,301 |
Available-for-sale and other securities | 5,452 | 51,604 |
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | ||
Total investment securities, Amortized Cost | 5,435 | 51,301 |
Total investment securities, Unrealized Gross Losses | 0 | 0 |
Available-for-sale and other securities | 5,452 | 51,604 |
Investment securities in unrealized loss position | ||
Total temporarily impaired securities, less than 12 months, Fair value | 0 | 0 |
Total temporarily impaired securities, less than 12 months, Unrealized Losses | 0 | 0 |
Total temporarily impaired securities, over 12 months, Fair Value | 0 | 0 |
Total temporarily impaired securities, over 12 months, Unrealized Losses | 0 | 0 |
Total temporarily impaired securities, Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses, Total | 0 | 0 |
Federal agencies - mortgage backed securities [Member] | ||
Investment maturity date range | ||
Total investment securities, Amortized Cost | 5,273,899 | 3,562,444 |
Available-for-sale and other securities | 5,322,701 | 3,566,221 |
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | ||
Total investment securities, Amortized Cost | 5,273,899 | 3,562,444 |
Total investment securities, Unrealized Gross Losses | -15,104 | -38,542 |
Available-for-sale and other securities | 5,322,701 | 3,566,221 |
Investment securities in unrealized loss position | ||
Total temporarily impaired securities, less than 12 months, Fair value | 501,858 | 1,628,454 |
Total temporarily impaired securities, less than 12 months, Unrealized Losses | -1,909 | -37,174 |
Total temporarily impaired securities, over 12 months, Fair Value | 527,280 | 12,682 |
Total temporarily impaired securities, over 12 months, Unrealized Losses | -13,195 | -1,368 |
Total temporarily impaired securities, Fair Value | 1,029,138 | 1,641,136 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses, Total | -15,104 | -38,542 |
Other Federal Agencies [Member] | ||
Investment maturity date range | ||
Total investment securities, Amortized Cost | 349,715 | 313,877 |
Available-for-sale and other securities | 351,543 | 319,888 |
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | ||
Total investment securities, Amortized Cost | 349,715 | 313,877 |
Total investment securities, Unrealized Gross Losses | -1,043 | -94 |
Available-for-sale and other securities | 351,543 | 319,888 |
Investment securities in unrealized loss position | ||
Total temporarily impaired securities, less than 12 months, Fair value | 159,708 | 2,069 |
Total temporarily impaired securities, less than 12 months, Unrealized Losses | -1,020 | -94 |
Total temporarily impaired securities, over 12 months, Fair Value | 1,281 | 0 |
Total temporarily impaired securities, over 12 months, Unrealized Losses | -23 | 0 |
Total temporarily impaired securities, Fair Value | 160,989 | 2,069 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses, Total | -1,043 | -94 |
Total U.S. Government backed agencies [Member] | ||
Investment maturity date range | ||
Total investment securities, Amortized Cost | 5,629,049 | 3,927,622 |
Available-for-sale and other securities | 5,679,696 | 3,937,713 |
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | ||
Total investment securities, Amortized Cost | 5,629,049 | 3,927,622 |
Total investment securities, Unrealized Gross Losses | -16,147 | -38,636 |
Available-for-sale and other securities | 5,679,696 | 3,937,713 |
Investment securities in unrealized loss position | ||
Total temporarily impaired securities, less than 12 months, Fair value | 661,566 | 1,630,523 |
Total temporarily impaired securities, less than 12 months, Unrealized Losses | -2,929 | -37,268 |
Total temporarily impaired securities, over 12 months, Fair Value | 528,561 | 12,682 |
Total temporarily impaired securities, over 12 months, Unrealized Losses | -13,218 | -1,368 |
Total temporarily impaired securities, Fair Value | 1,190,127 | 1,643,205 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses, Total | -16,147 | -38,636 |
Municipal securities [Member] | ||
Investment maturity date range | ||
Total investment securities, Amortized Cost | 1,841,311 | 1,140,263 |
Available-for-sale and other securities | 1,868,569 | 1,145,992 |
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | ||
Total investment securities, Amortized Cost | 1,841,311 | 1,140,263 |
Total investment securities, Unrealized Gross Losses | -10,140 | -13,096 |
Available-for-sale and other securities | 1,868,569 | 1,145,992 |
Investment securities in unrealized loss position | ||
Total temporarily impaired securities, less than 12 months, Fair value | 568,619 | 551,114 |
Total temporarily impaired securities, less than 12 months, Unrealized Losses | -9,127 | -12,395 |
Total temporarily impaired securities, over 12 months, Fair Value | 96,426 | 7,531 |
Total temporarily impaired securities, over 12 months, Unrealized Losses | -1,013 | -701 |
Total temporarily impaired securities, Fair Value | 665,045 | 558,645 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses, Total | -10,140 | -13,096 |
Private label CMO [Member] | ||
Investment maturity date range | ||
Amortized Cost | 43,730 | |
Fair Value, Total | 41,926 | |
Total investment securities, Amortized Cost | 43,730 | 51,238 |
Available-for-sale and other securities | 41,926 | 49,104 |
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | ||
Total investment securities, Amortized Cost | 43,730 | 51,238 |
Total investment securities, Unrealized Gross Losses | -2,920 | -3,322 |
Available-for-sale and other securities | 41,926 | 49,104 |
Investment securities in unrealized loss position | ||
Total temporarily impaired securities, less than 12 months, Fair value | 0 | 0 |
Total temporarily impaired securities, less than 12 months, Unrealized Losses | 0 | 0 |
Total temporarily impaired securities, over 12 months, Fair Value | 22,650 | 22,639 |
Total temporarily impaired securities, over 12 months, Unrealized Losses | -2,920 | -3,322 |
Total temporarily impaired securities, Fair Value | 22,650 | 22,639 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses, Total | -2,920 | -3,322 |
Other Asset Backed Securities [Member] | ||
Investment maturity date range | ||
Total investment securities, Amortized Cost | 1,014,999 | 1,172,284 |
Available-for-sale and other securities | 955,998 | 1,091,040 |
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | ||
Total investment securities, Amortized Cost | 1,014,999 | 1,172,284 |
Total investment securities, Unrealized Gross Losses | -61,062 | -88,015 |
Available-for-sale and other securities | 955,998 | 1,091,040 |
Investment securities in unrealized loss position | ||
Total temporarily impaired securities, less than 12 months, Fair value | 157,613 | 391,665 |
Total temporarily impaired securities, less than 12 months, Unrealized Losses | -641 | -9,720 |
Total temporarily impaired securities, over 12 months, Fair Value | 325,691 | 107,419 |
Total temporarily impaired securities, over 12 months, Unrealized Losses | -60,421 | -78,295 |
Total temporarily impaired securities, Fair Value | 483,304 | 499,084 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses, Total | -61,062 | -88,015 |
Covered Bonds [Member] | ||
Investment maturity date range | ||
Total investment securities, Amortized Cost | 0 | 280,595 |
Available-for-sale and other securities | 0 | 285,874 |
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | ||
Total investment securities, Amortized Cost | 0 | 280,595 |
Total investment securities, Unrealized Gross Losses | 0 | 0 |
Available-for-sale and other securities | 0 | 285,874 |
Investment securities in unrealized loss position | ||
Total temporarily impaired securities, less than 12 months, Fair value | 0 | |
Total temporarily impaired securities, less than 12 months, Unrealized Losses | 0 | |
Total temporarily impaired securities, over 12 months, Fair Value | 0 | |
Total temporarily impaired securities, over 12 months, Unrealized Losses | 0 | |
Total temporarily impaired securities, Fair Value | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses, Total | 0 | 0 |
Corporate debt [Member] | ||
Investment maturity date range | ||
Total investment securities, Amortized Cost | 479,151 | 455,493 |
Available-for-sale and other securities | 486,176 | 457,240 |
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | ||
Total investment securities, Amortized Cost | 479,151 | 455,493 |
Total investment securities, Unrealized Gross Losses | -2,417 | -9,494 |
Available-for-sale and other securities | 486,176 | 457,240 |
Investment securities in unrealized loss position | ||
Total temporarily impaired securities, less than 12 months, Fair value | 49,562 | 146,308 |
Total temporarily impaired securities, less than 12 months, Unrealized Losses | -252 | -7,729 |
Total temporarily impaired securities, over 12 months, Fair Value | 88,398 | 26,155 |
Total temporarily impaired securities, over 12 months, Unrealized Losses | -2,165 | -1,765 |
Total temporarily impaired securities, Fair Value | 137,960 | 172,463 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses, Total | -2,417 | -9,494 |
Other securities [Member] | ||
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | ||
Total investment securities, Unrealized Gross Losses | -84 | -133 |
Investment securities in unrealized loss position | ||
Total temporarily impaired securities, less than 12 months, Fair value | 0 | 3,078 |
Total temporarily impaired securities, less than 12 months, Unrealized Losses | 0 | -72 |
Total temporarily impaired securities, over 12 months, Unrealized Losses | -61 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses, Total | -84 | -133 |
Automobile Asset Backed securities [Member] | ||
Investment maturity date range | ||
Fair Value, Total | 0 | 0 |
TLGP securities [Member] | ||
Investment maturity date range | ||
Total investment securities, Amortized Cost | 0 | |
Available-for-sale and other securities | 0 | |
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | ||
Total investment securities, Amortized Cost | 0 | |
Total investment securities, Unrealized Gross Losses | 0 | |
Available-for-sale and other securities | 0 | |
Investment securities in unrealized loss position | ||
Total temporarily impaired securities, less than 12 months, Fair value | 0 | |
Total temporarily impaired securities, less than 12 months, Unrealized Losses | 0 | |
Total temporarily impaired securities, over 12 months, Fair Value | 0 | |
Total temporarily impaired securities, over 12 months, Unrealized Losses | 0 | |
Total temporarily impaired securities, Fair Value | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses, Total | 0 | |
Other Securities [Member] | ||
Investment maturity date range | ||
Total investment securities, Amortized Cost | 351,646 | 341,412 |
Available-for-sale and other securities | 352,305 | 341,790 |
Amortized cost, fair value, and gross unrealized gains and losses recognized in accumulated other comprehensive income | ||
Total investment securities, Amortized Cost | 351,646 | 341,412 |
Available-for-sale and other securities | 352,305 | 341,790 |
Investment securities in unrealized loss position | ||
Total temporarily impaired securities, over 12 months, Fair Value | 1,416 | 2,530 |
Total temporarily impaired securities, over 12 months, Unrealized Losses | -84 | |
Total temporarily impaired securities, Fair Value | $1,416 | $5,608 |
AvailableforSale_and_Other_Sec2
Available-for-Sale and Other Securities (Realized Gains/Losses) (Details 1) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Realized securities gains and losses | |||
Gross gains on sales of securities | $17,729 | $2,932 | $8,612 |
Gross (losses) on sales of securities | -175 | -712 | -2,224 |
Net gain on sales of investment securities | $17,554 | $2,220 | $6,388 |
AvailableforSale_and_Other_Sec3
Available-for-Sale and Other Securities (Credit Ratings) (Details 2) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Credit Rating by Investment Security Type [Line Items] | ||
Amortized Cost | $182,924 | $212,968 |
Fair Value | 124,664 | 133,240 |
AAA [Member] | ||
Schedule of Credit Rating by Investment Security Type [Line Items] | ||
Fair Value | 11,461 | 16,964 |
AA +/- [Member] | ||
Schedule of Credit Rating by Investment Security Type [Line Items] | ||
Fair Value | 0 | 0 |
A +/- [Member] | ||
Schedule of Credit Rating by Investment Security Type [Line Items] | ||
Fair Value | 0 | 17,855 |
BBB +/- [Member] | ||
Schedule of Credit Rating by Investment Security Type [Line Items] | ||
Fair Value | 10,161 | 11,785 |
Less Than BBB- [Member] | ||
Schedule of Credit Rating by Investment Security Type [Line Items] | ||
Fair Value | 103,042 | 86,636 |
Alt-A Mortgage-backed [Member] | ||
Schedule of Credit Rating by Investment Security Type [Line Items] | ||
Amortized Cost | 0 | |
Fair Value | 0 | |
Alt-A Mortgage-backed [Member] | AAA [Member] | ||
Schedule of Credit Rating by Investment Security Type [Line Items] | ||
Fair Value | 0 | |
Alt-A Mortgage-backed [Member] | AA +/- [Member] | ||
Schedule of Credit Rating by Investment Security Type [Line Items] | ||
Fair Value | 0 | |
Alt-A Mortgage-backed [Member] | A +/- [Member] | ||
Schedule of Credit Rating by Investment Security Type [Line Items] | ||
Fair Value | 0 | |
Alt-A Mortgage-backed [Member] | BBB +/- [Member] | ||
Schedule of Credit Rating by Investment Security Type [Line Items] | ||
Fair Value | 0 | |
Alt-A Mortgage-backed [Member] | Less Than BBB- [Member] | ||
Schedule of Credit Rating by Investment Security Type [Line Items] | ||
Fair Value | 0 | |
Pooled Trust Preferred [Member] | ||
Schedule of Credit Rating by Investment Security Type [Line Items] | ||
Amortized Cost | 139,194 | 161,730 |
Fair Value | 82,738 | 84,136 |
Pooled Trust Preferred [Member] | AAA [Member] | ||
Schedule of Credit Rating by Investment Security Type [Line Items] | ||
Fair Value | 0 | |
Pooled Trust Preferred [Member] | AA +/- [Member] | ||
Schedule of Credit Rating by Investment Security Type [Line Items] | ||
Fair Value | 0 | |
Pooled Trust Preferred [Member] | A +/- [Member] | ||
Schedule of Credit Rating by Investment Security Type [Line Items] | ||
Fair Value | 0 | |
Pooled Trust Preferred [Member] | BBB +/- [Member] | ||
Schedule of Credit Rating by Investment Security Type [Line Items] | ||
Fair Value | 0 | |
Pooled Trust Preferred [Member] | Less Than BBB- [Member] | ||
Schedule of Credit Rating by Investment Security Type [Line Items] | ||
Fair Value | 82,738 | |
Private label CMO [Member] | ||
Schedule of Credit Rating by Investment Security Type [Line Items] | ||
Amortized Cost | 43,730 | |
Fair Value | 41,926 | |
Private label CMO [Member] | AAA [Member] | ||
Schedule of Credit Rating by Investment Security Type [Line Items] | ||
Fair Value | 11,461 | |
Private label CMO [Member] | AA +/- [Member] | ||
Schedule of Credit Rating by Investment Security Type [Line Items] | ||
Fair Value | 0 | |
Private label CMO [Member] | A +/- [Member] | ||
Schedule of Credit Rating by Investment Security Type [Line Items] | ||
Fair Value | 0 | |
Private label CMO [Member] | BBB +/- [Member] | ||
Schedule of Credit Rating by Investment Security Type [Line Items] | ||
Fair Value | 10,161 | |
Private label CMO [Member] | Less Than BBB- [Member] | ||
Schedule of Credit Rating by Investment Security Type [Line Items] | ||
Fair Value | $20,304 |
AvailableforSale_and_Other_Sec4
Available-for-Sale and Other Securities (Trust Preferred) (Details 3) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Trust Preferred Securities Data [Line Items] | ||
Amortized Cost | $182,924 | $212,968 |
Fair Value | 124,664 | 133,240 |
Total investment securities, Unrealized Gross Losses | -92,770 | -152,696 |
Pooled Trust Preferred [Member] | ||
Trust Preferred Securities Data [Line Items] | ||
Par Value | 193,597 | 214,419 |
Amortized Cost | 139,194 | 161,730 |
Fair Value | 82,738 | 84,136 |
Total investment securities, Unrealized Gross Losses | -56,456 | -77,594 |
Pooled Trust Preferred [Member] | Alesco II [Member] | ||
Trust Preferred Securities Data [Line Items] | ||
Par Value | 41,646 | |
Amortized Cost | 28,834 | |
Fair Value | 16,758 | |
Total investment securities, Unrealized Gross Losses | -12,076 | |
Number of Issuers Currently Performing | 12,076 | |
Number of Issuers Currently Remaining | ||
Actual Deferrals and Defaults as Percent of Original Collateral | ||
Expected Defaults as Percent of Remaining Performing Collateral | ||
Excess Subordination | ||
Pooled Trust Preferred [Member] | ICONS [Member] | ||
Trust Preferred Securities Data [Line Items] | ||
Par Value | 19,837 | |
Amortized Cost | 19,837 | |
Fair Value | 15,786 | |
Total investment securities, Unrealized Gross Losses | -4,051 | |
Number of Issuers Currently Performing | 4,051 | |
Number of Issuers Currently Remaining | ||
Actual Deferrals and Defaults as Percent of Original Collateral | ||
Expected Defaults as Percent of Remaining Performing Collateral | ||
Excess Subordination | ||
Pooled Trust Preferred [Member] | MM Comm III [Member] | ||
Trust Preferred Securities Data [Line Items] | ||
Par Value | 5,584 | |
Amortized Cost | 5,335 | |
Fair Value | 4,418 | |
Total investment securities, Unrealized Gross Losses | -917 | |
Number of Issuers Currently Performing | 917 | |
Number of Issuers Currently Remaining | ||
Actual Deferrals and Defaults as Percent of Original Collateral | ||
Expected Defaults as Percent of Remaining Performing Collateral | ||
Excess Subordination | ||
Pooled Trust Preferred [Member] | Pre TSL IX [Member] | ||
Trust Preferred Securities Data [Line Items] | ||
Par Value | 5,000 | |
Amortized Cost | 3,955 | |
Fair Value | 2,403 | |
Total investment securities, Unrealized Gross Losses | -1,552 | |
Number of Issuers Currently Performing | 1,552 | |
Number of Issuers Currently Remaining | ||
Actual Deferrals and Defaults as Percent of Original Collateral | ||
Expected Defaults as Percent of Remaining Performing Collateral | ||
Excess Subordination | ||
Pooled Trust Preferred [Member] | Pre TSL XI [Member] | ||
Trust Preferred Securities Data [Line Items] | ||
Par Value | 25,000 | |
Amortized Cost | 20,632 | |
Fair Value | 12,248 | |
Total investment securities, Unrealized Gross Losses | -8,384 | |
Number of Issuers Currently Performing | 8,384 | |
Number of Issuers Currently Remaining | ||
Actual Deferrals and Defaults as Percent of Original Collateral | ||
Expected Defaults as Percent of Remaining Performing Collateral | ||
Excess Subordination | ||
Pooled Trust Preferred [Member] | Pre TSL XIII [Member] | ||
Trust Preferred Securities Data [Line Items] | ||
Par Value | 27,530 | |
Amortized Cost | 20,252 | |
Fair Value | 13,302 | |
Total investment securities, Unrealized Gross Losses | -6,950 | |
Number of Issuers Currently Performing | 6,950 | |
Number of Issuers Currently Remaining | ||
Actual Deferrals and Defaults as Percent of Original Collateral | ||
Expected Defaults as Percent of Remaining Performing Collateral | ||
Excess Subordination | ||
Pooled Trust Preferred [Member] | Reg Diversified [Member] | ||
Trust Preferred Securities Data [Line Items] | ||
Par Value | 25,500 | |
Amortized Cost | 6,908 | |
Fair Value | 1,142 | |
Total investment securities, Unrealized Gross Losses | -5,766 | |
Number of Issuers Currently Performing | 5,766 | |
Number of Issuers Currently Remaining | ||
Actual Deferrals and Defaults as Percent of Original Collateral | ||
Expected Defaults as Percent of Remaining Performing Collateral | ||
Excess Subordination | ||
Pooled Trust Preferred [Member] | Soloso [Member] | ||
Trust Preferred Securities Data [Line Items] | ||
Par Value | 12,500 | |
Amortized Cost | 2,440 | |
Fair Value | 368 | |
Total investment securities, Unrealized Gross Losses | -2,072 | |
Number of Issuers Currently Performing | 2,072 | |
Number of Issuers Currently Remaining | ||
Actual Deferrals and Defaults as Percent of Original Collateral | ||
Expected Defaults as Percent of Remaining Performing Collateral | ||
Excess Subordination | ||
Pooled Trust Preferred [Member] | Tropic III [Member] | ||
Trust Preferred Securities Data [Line Items] | ||
Par Value | 31,000 | |
Amortized Cost | 31,001 | |
Fair Value | 16,313 | |
Total investment securities, Unrealized Gross Losses | ($14,688) | |
Number of Issuers Currently Performing | 14,688 | |
Number of Issuers Currently Remaining | ||
Actual Deferrals and Defaults as Percent of Original Collateral | ||
Expected Defaults as Percent of Remaining Performing Collateral | ||
Excess Subordination |
AvailableforSale_and_Other_Sec5
Available-for-Sale and Other Securities (OTTI) (Details 4) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Total OTTI losses, OTTI losses included in OCI, and OTTI recognized in the income statement for securities evaluated for impairment by debt security debt | |||
Impairment losses recognized in earnings on available-for-sale securities | $0 | $1,802,000 | $1,619,000 |
Equity Securities [Member] | |||
Total OTTI losses, OTTI losses included in OCI, and OTTI recognized in the income statement for securities evaluated for impairment by debt security debt | |||
Impairment losses recognized in earnings on available-for-sale securities | 0 | 0 | 5,000 |
Debt Securities [Member] | |||
Total OTTI losses, OTTI losses included in OCI, and OTTI recognized in the income statement for securities evaluated for impairment by debt security debt | |||
Impairment losses recognized in earnings on available-for-sale securities | 0 | 1,802,000 | 1,614,000 |
Private label CMO [Member] | |||
Total OTTI losses, OTTI losses included in OCI, and OTTI recognized in the income statement for securities evaluated for impairment by debt security debt | |||
Impairment losses recognized in earnings on available-for-sale securities | 0 | 336,000 | 1,614,000 |
Alt-A Mortgage-backed [Member] | |||
Total OTTI losses, OTTI losses included in OCI, and OTTI recognized in the income statement for securities evaluated for impairment by debt security debt | |||
Impairment losses recognized in earnings on available-for-sale securities | 0 | 0 | 0 |
Pooled Trust Preferred [Member] | |||
Total OTTI losses, OTTI losses included in OCI, and OTTI recognized in the income statement for securities evaluated for impairment by debt security debt | |||
Impairment losses recognized in earnings on available-for-sale securities | $0 | $1,466,000 | $0 |
AvailableforSale_and_Other_Sec6
Available-for-Sale and Other Securities (Details Textuals) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2011 |
Investment Securities (Textuals) | |||
Fair Value, Total | $124,664,000 | $133,240,000 | |
Stock issued by Federal Reserve Banks included in other securities | 174,500,000 | 155,400,000 | |
Pledged investment securities to secure public and trust deposits, trading account liabilities, US Treasury demand notes and security repurchase agreements | 3,600,000,000 | ||
Loans transfered to available-for-sale securities | 0 | 600,435,000 | 0 |
Federal Home Loan Bank of Cincinnati [Member] | |||
Investment Securities (Textuals) | |||
Stock issued by the Federal Home Loan Bank included in other securities | 157,000,000 | 165,600,000 | |
Federal Home Loan Bank of Indianapolis [Member] | |||
Investment Securities (Textuals) | |||
Stock issued by the Federal Home Loan Bank included in other securities | 0 | 0 | |
Automobile Asset Backed securities [Member] | |||
Investment Securities (Textuals) | |||
Fair Value, Total | $0 | $0 |
HeldtoMaturity_Securities_Deta
Held-to-Maturity Securities (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Contractual maturities of held-to-maturity securities | ||
Held-to-maturity securities, Total | $3,379,905 | $3,836,667 |
Held-to-maturity Securities, Fair Value | 3,382,715 | 3,760,898 |
Amortized cost, gross unrealized gains and losses, and fair value by investment category | ||
Held-to-maturity securities, Total | 3,379,905 | 3,836,667 |
Held-to-maturity Securities, Gross Gain | -26,083 | -6,349 |
Held-to-maturity Securities, Gross Losses | -23,273 | -82,118 |
Held-to-maturity securities, fair value | 3,382,715 | 3,760,898 |
Continuous Unrealized Loss Position | ||
Total Temporarily Impaired Securities, Less Than Twelve Months, Fair Value | 752,484 | 3,001,774 |
Total Temporarily Impaired Securities Unrealized Losses, Less Than Twelve Months, Fair Value | -6,135 | -79,766 |
Total Temporarily Impaired Securities, Over Twelve Months, Fair Value | 693,757 | 22,548 |
Total Temporarily Impaired Securites, Unrealized Losses Over Twelve Months | -17,138 | -2,352 |
Total Temporarily Impaired Securities, Fair Value | 1,446,241 | 3,024,322 |
Total Temporarily Impaired Securities, Unrealized Losses | -23,273 | -82,118 |
Federal agencies - mortgage backed securities [Member] | ||
Contractual maturities of held-to-maturity securities | ||
Held-to-maturity Securities, Under 1 year | 0 | 0 |
Held-to-maturity Securities, 1-5 years | 0 | 0 |
Held-to-maturity Securities, 6-10 years | 24,901 | 24,901 |
Held-to-maturity Securities, Over 10 years | 3,136,460 | 3,574,156 |
Held-to-maturity securities, Total | 3,161,361 | 3,599,057 |
Fair Value, Under 1 year | 0 | 0 |
Fair Value, 1-5 years | 0 | 0 |
Fair Value, 6-10 years | 24,263 | 22,549 |
Fair Value, Over 10 years | 3,140,194 | 3,506,018 |
Held-to-maturity Securities, Fair Value | 3,164,457 | 3,528,567 |
Amortized cost, gross unrealized gains and losses, and fair value by investment category | ||
Held-to-maturity securities, Total | 3,161,361 | 3,599,057 |
Held-to-maturity Securities, Gross Gain | -24,832 | -5,573 |
Held-to-maturity Securities, Gross Losses | -21,736 | -76,063 |
Held-to-maturity securities, fair value | 3,164,457 | 3,528,567 |
Continuous Unrealized Loss Position | ||
Total Temporarily Impaired Securities, Less Than Twelve Months, Fair Value | 707,934 | 2,849,198 |
Total Temporarily Impaired Securities Unrealized Losses, Less Than Twelve Months, Fair Value | -5,550 | -73,711 |
Total Temporarily Impaired Securities, Over Twelve Months, Fair Value | 622,026 | 22,548 |
Total Temporarily Impaired Securites, Unrealized Losses Over Twelve Months | -16,186 | -2,352 |
Total Temporarily Impaired Securities, Fair Value | 1,329,960 | 2,871,746 |
Total Temporarily Impaired Securities, Unrealized Losses | -21,736 | -76,063 |
Other Federal Agencies [Member] | ||
Contractual maturities of held-to-maturity securities | ||
Held-to-maturity Securities, Under 1 year | 0 | 0 |
Held-to-maturity Securities, 1-5 years | 0 | 0 |
Held-to-maturity Securities, 6-10 years | 54,010 | 38,588 |
Held-to-maturity Securities, Over 10 years | 156,553 | 189,999 |
Held-to-maturity securities, Total | 210,563 | 228,587 |
Fair Value, Under 1 year | 0 | 0 |
Fair Value, 1-5 years | 0 | 0 |
Fair Value, 6-10 years | 54,843 | 39,075 |
Fair Value, Over 10 years | 155,821 | 185,097 |
Held-to-maturity Securities, Fair Value | 210,664 | 224,172 |
Amortized cost, gross unrealized gains and losses, and fair value by investment category | ||
Held-to-maturity securities, Total | 210,563 | 228,587 |
Held-to-maturity Securities, Gross Gain | -1,251 | -776 |
Held-to-maturity Securities, Gross Losses | -1,150 | -5,191 |
Held-to-maturity securities, fair value | 210,664 | 224,172 |
Continuous Unrealized Loss Position | ||
Total Temporarily Impaired Securities, Less Than Twelve Months, Fair Value | 36,956 | 144,417 |
Total Temporarily Impaired Securities Unrealized Losses, Less Than Twelve Months, Fair Value | -198 | -5,191 |
Total Temporarily Impaired Securities, Over Twelve Months, Fair Value | 71,731 | 0 |
Total Temporarily Impaired Securites, Unrealized Losses Over Twelve Months | -952 | 0 |
Total Temporarily Impaired Securities, Fair Value | 108,687 | 144,417 |
Total Temporarily Impaired Securities, Unrealized Losses | -1,150 | -5,191 |
Municipal securities [Member] | ||
Contractual maturities of held-to-maturity securities | ||
Held-to-maturity Securities, Under 1 year | 0 | 0 |
Held-to-maturity Securities, 1-5 years | 0 | 0 |
Held-to-maturity Securities, 6-10 years | 0 | 0 |
Held-to-maturity Securities, Over 10 years | 7,981 | 9,023 |
Held-to-maturity securities, Total | 7,981 | 9,023 |
Fair Value, Under 1 year | 0 | 0 |
Fair Value, 1-5 years | 0 | 0 |
Fair Value, 6-10 years | 0 | 0 |
Fair Value, Over 10 years | 7,594 | 8,159 |
Held-to-maturity Securities, Fair Value | 7,594 | 8,159 |
Amortized cost, gross unrealized gains and losses, and fair value by investment category | ||
Held-to-maturity securities, Total | 7,981 | 9,023 |
Held-to-maturity Securities, Gross Gain | 0 | 0 |
Held-to-maturity Securities, Gross Losses | -387 | -864 |
Held-to-maturity securities, fair value | 7,594 | 8,159 |
Continuous Unrealized Loss Position | ||
Total Temporarily Impaired Securities, Less Than Twelve Months, Fair Value | 7,594 | 8,159 |
Total Temporarily Impaired Securities Unrealized Losses, Less Than Twelve Months, Fair Value | -387 | -864 |
Total Temporarily Impaired Securities, Over Twelve Months, Fair Value | 0 | 0 |
Total Temporarily Impaired Securites, Unrealized Losses Over Twelve Months | 0 | 0 |
Total Temporarily Impaired Securities, Fair Value | 7,594 | 8,159 |
Total Temporarily Impaired Securities, Unrealized Losses | -387 | -864 |
Total U.S. Government backed agencies [Member] | ||
Contractual maturities of held-to-maturity securities | ||
Held-to-maturity securities, Total | 3,371,924 | 3,827,644 |
Held-to-maturity Securities, Fair Value | 3,375,121 | 3,752,739 |
Amortized cost, gross unrealized gains and losses, and fair value by investment category | ||
Held-to-maturity securities, Total | 3,371,924 | 3,827,644 |
Held-to-maturity Securities, Gross Gain | -26,083 | -6,349 |
Held-to-maturity Securities, Gross Losses | -22,886 | -81,254 |
Held-to-maturity securities, fair value | 3,375,121 | 3,752,739 |
Continuous Unrealized Loss Position | ||
Total Temporarily Impaired Securities, Less Than Twelve Months, Fair Value | 744,890 | 2,993,615 |
Total Temporarily Impaired Securities Unrealized Losses, Less Than Twelve Months, Fair Value | -5,748 | -78,902 |
Total Temporarily Impaired Securities, Over Twelve Months, Fair Value | 693,757 | 22,548 |
Total Temporarily Impaired Securites, Unrealized Losses Over Twelve Months | -17,138 | -2,352 |
Total Temporarily Impaired Securities, Fair Value | 1,438,647 | 3,016,163 |
Total Temporarily Impaired Securities, Unrealized Losses | ($22,886) | ($81,254) |
HeldtoMaturity_Securities_Deta1
Held-to-Maturity Securities (Details Textuals) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Schedule of Held-to-maturity Securities [Line Items] | |||
Available for sale securities transferred to held to maturity securities | $0 | $292,200,000 | |
Purchases of held-to-maturity securities | 0 | 2,081,373,000 | 941,119,000 |
Held-to-Maturity Securities (Textuals) | |||
Unrealized net losses recognized in OCI at time of transfer of available for sale securities transferred to Held To Maturity Securities | $0 | $0 |
Loans_sales_and_securitization1
Loans sales and securitizations (Details) (USD $) | 12 Months Ended | ||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Summarize the changes in MSRs using the fair value method | |||||||
Fair value, beginning of period | $34,236 | $35,202 | |||||
Change in fair value during the period due to: | |||||||
Time decay | 2,232 | [1] | 2,648 | [1] | |||
Payoffs | 5,814 | [2] | 11,851 | [2] | |||
Changes in valuation inputs or assumptions | -3,404 | [3] | 13,533 | [3] | |||
Fair value, end of period | 22,786 | 34,236 | 35,202 | ||||
Residential Mortgage [Member] | |||||||
Summarizes activity relating to loans sold securitized with servicing retained | |||||||
Loans sold with servicing retained | 2,330,060 | 3,221,239 | 3,954,762 | ||||
Pretax gains resulting from above loan sales | 57,590 | [4] | 102,935 | [4] | 128,408 | [4] | |
Residential Mortgage [Member] | Fair value method | |||||||
Change in fair value during the period due to: | |||||||
Weighted-average life (in years) | 4 years 3 months 0 days | 4 years 2 months 0 days | |||||
Residential Mortgage [Member] | Amortization method | |||||||
Change in fair value during the period due to: | |||||||
Weighted-average life (in years) | 6 years 9 months 0 days | 6 years 10 months 0 days | |||||
Automobile Loan [Member] | |||||||
Summarizes activity relating to loans sold securitized with servicing retained | |||||||
Loans sold with servicing retained | 0 | 0 | 169,324 | ||||
Automobile Loan [Member] | Amortization method | |||||||
Change in fair value during the period due to: | |||||||
Weighted-average life (in years) | 3 years 7 months 0 days | 3 years 7 months 0 days | |||||
Small Business Association (SBA) Loan [Member] | |||||||
Summarizes activity relating to loans sold securitized with servicing retained | |||||||
Loans sold with servicing retained | $214,760 | $178,874 | $209,540 | ||||
Small Business Association (SBA) Loan [Member] | Amortization method | |||||||
Change in fair value during the period due to: | |||||||
Weighted-average life (in years) | 3 years 6 months 0 days | 3 years 6 months 0 days | |||||
[1] | Represents decrease in value due to passage of time, including the impact from both regularly scheduled loan principal payments and partial loan paydowns. | ||||||
[2] | Represents decrease in value associated with loans that paid off during the period. | ||||||
[3] | Represents change in value resulting primarily from market-driven changes in interest rates and prepayment speeds. | ||||||
[4] | Recorded in mortgage banking income. |
Loans_sales_and_securitization2
Loans sales and securitizations (Details 1) (USD $) | 12 Months Ended | ||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] | |||||||
Constant pre-payment rate, actual | 15.60% | ||||||
Constant pre-payment rate, 10% adverse change | ($1,176) | ||||||
Constant pre-payment rate, 20% adverse change | -2,248 | ||||||
Spread over forward interest rate swap rates, actual | 5.46% | ||||||
Spread over forward interest rate swap rates, 10% adverse change | -699 | ||||||
Spread over forward interest rate swap rates, 20% adverse change | -1,355 | ||||||
Fair value method | Residential Mortgage [Member] | |||||||
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] | |||||||
Constant pre-payment rate, actual | 11.90% | ||||||
Constant pre-payment rate, 10% adverse change | -1,935 | ||||||
Constant pre-payment rate, 20% adverse change | -3,816 | ||||||
Spread over forward interest rate swap rates, actual | 10.69% | ||||||
Spread over forward interest rate swap rates, 10% adverse change | -1,376 | ||||||
Spread over forward interest rate swap rates, 20% adverse change | -2,753 | ||||||
Amortization method | Residential Mortgage [Member] | |||||||
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] | |||||||
Constant pre-payment rate, actual | 11.40% | 6.70% | |||||
Constant pre-payment rate, 10% adverse change | -5,289 | -6,813 | |||||
Constant pre-payment rate, 20% adverse change | -10,164 | -12,977 | |||||
Spread over forward interest rate swap rates, actual | 8.56% | 9.40% | |||||
Spread over forward interest rate swap rates, 10% adverse change | -4,343 | -6,027 | |||||
Spread over forward interest rate swap rates, 20% adverse change | -8,403 | -12,054 | |||||
Amortization method | Automobile Loan [Member] | |||||||
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] | |||||||
Constant pre-payment rate, actual | 14.62% | 14.65% | |||||
Constant pre-payment rate, 10% adverse change | -305 | -584 | |||||
Constant pre-payment rate, 20% adverse change | -496 | -1,183 | |||||
Spread over forward interest rate swap rates, actual | 5.00% | 500.00% | |||||
Spread over forward interest rate swap rates, 10% adverse change | -2 | -7 | |||||
Spread over forward interest rate swap rates, 20% adverse change | -4 | -15 | |||||
Amortization method | Small Business Association (SBA) Loan [Member] | |||||||
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] | |||||||
Constant pre-payment rate, actual | 5.60% | 5.90% | |||||
Constant pre-payment rate, 10% adverse change | -211 | -221 | |||||
Constant pre-payment rate, 20% adverse change | -419 | -438 | |||||
Spread over forward interest rate swap rates, actual | 15.00% | 1500.00% | |||||
Spread over forward interest rate swap rates, 10% adverse change | -563 | -446 | |||||
Spread over forward interest rate swap rates, 20% adverse change | -1,102 | -873 | |||||
Residential Mortgage [Member] | |||||||
Summarizes activity relating to loans sold securitized with servicing retained | |||||||
Loans sold with servicing retained | 2,330,060 | 3,221,239 | 3,954,762 | ||||
Summarize the changes in servicing rights using the amortization method | |||||||
Carrying value, beginning of year | 128,064 | 85,545 | |||||
New servicing assets created | 24,629 | 34,743 | |||||
Impairment charge/(recovery) | -7,330 | 22,023 | |||||
Amortization and other | -16,056 | -14,247 | |||||
Carrying value, end of period | 132,812 | 128,064 | |||||
Fair value, end of period | 133,049 | 143,304 | |||||
Residential Mortgage [Member] | Fair value method | |||||||
Summarize the changes in servicing rights using the amortization method | |||||||
Weighted-average life (in years) | 4 years 3 months 0 days | 4 years 2 months 0 days | |||||
Residential Mortgage [Member] | Amortization method | |||||||
Summarize the changes in servicing rights using the amortization method | |||||||
Weighted-average life (in years) | 6 years 9 months 0 days | 6 years 10 months 0 days | |||||
Automobile Loan [Member] | |||||||
Summarizes activity relating to loans sold securitized with servicing retained | |||||||
Loans sold with servicing retained | 0 | 0 | 169,324 | ||||
Total loans transferred in securitization transactions | 0 | 0 | 2,300,018 | ||||
Gain or loss from sale of loans in securitizations and sales | 0 | 0 | 42,251 | ||||
Summarize the changes in servicing rights using the amortization method | |||||||
Carrying value, beginning of year | 17,672 | 35,606 | |||||
New servicing assets created | 0 | 0 | |||||
Impairment charge/(recovery) | 0 | 0 | |||||
Amortization and other | -10,774 | -17,934 | |||||
Carrying value, end of period | 6,898 | 17,672 | |||||
Fair value, end of period | 6,948 | 18,193 | |||||
Automobile Loan [Member] | Amortization method | |||||||
Summarize the changes in servicing rights using the amortization method | |||||||
Weighted-average life (in years) | 3 years 7 months 0 days | 3 years 7 months 0 days | |||||
Small Business Association (SBA) Loan [Member] | |||||||
Summarizes activity relating to loans sold securitized with servicing retained | |||||||
Loans sold with servicing retained | 214,760 | 178,874 | 209,540 | ||||
Gain Loss On Sale Of Loans | 24,579 | [1] | 19,556 | [1] | 22,916 | [1] | |
Summarize the changes in servicing rights using the amortization method | |||||||
Carrying value, beginning of year | 16,865 | 15,147 | |||||
New servicing assets created | 7,269 | 6,105 | |||||
Impairment charge/(recovery) | 0 | 0 | |||||
Amortization and other | -5,598 | -4,387 | |||||
Carrying value, end of period | 18,536 | 16,865 | |||||
Fair value, end of period | $20,495 | $16,865 | |||||
Small Business Association (SBA) Loan [Member] | Amortization method | |||||||
Summarize the changes in servicing rights using the amortization method | |||||||
Weighted-average life (in years) | 3 years 6 months 0 days | 3 years 6 months 0 days | |||||
[1] | Recorded in noninterest income |
Loans_sales_and_securitization3
Loans sales and securitizations (Details Textuals) (USD $) | 3 Months Ended | 12 Months Ended | |||||
Sep. 30, 2014 | Mar. 31, 2014 | Sep. 30, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Loans sales and securitizations (Textuals) [Abstract] | |||||||
Total of automobile loans transferred in securitization transactions | $1,300,000,000 | $1,000,000,000 | $1,000,000,000 | ||||
Residential Mortgage [Member] | |||||||
Loans sales and securitizations (Textuals) [Abstract] | |||||||
Servicing income | 44,300,000 | 43,800,000 | 46,200,000 | ||||
Unpaid principal balance of third party serviced loans | 15,600,000,000 | 15,200,000,000 | 15,600,000,000 | ||||
Automobile Loan [Member] | |||||||
Loans sales and securitizations (Textuals) [Abstract] | |||||||
Servicing income | 7,700,000 | 10,300,000 | 8,700,000 | ||||
Total loans transferred in securitization transactions | 0 | 0 | 2,300,018,000 | ||||
Gain or loss from sale of loans in securitizations and sales | 0 | 0 | 42,251,000 | ||||
Unpaid principal balance of third party serviced loans | 800,000,000 | 1,600,000,000 | 2,500,000,000 | ||||
Small Business Association (SBA) Loan [Member] | |||||||
Loans sales and securitizations (Textuals) [Abstract] | |||||||
Servicing income | 7,400,000 | 6,300,000 | 5,700,000 | ||||
Unpaid principal balance of third party serviced loans | $898,000,000 | $885,400,000 | $758,300,000 |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Goodwill by business segment | |||
Beginning Balance | $444,268,000 | ||
Goodwill impairment | 3,000,000 | 0 | 0 |
Ending Balance | 522,541,000 | 444,268,000 | |
Summary of other intangible assets | |||
Total other intangible assets, gross carrying amount | 533,142,000 | 512,387,000 | |
Total other intangible assets, accumulated amortization | -458,471,000 | -419,194,000 | |
Total other intangible assets, net of carrying value | 74,671,000 | 93,193,000 | |
Estimated amortization expense of other intangible assets | |||
2013 (10k) | 26,329,000 | ||
2014 | 12,485,000 | ||
2015 | 11,371,000 | ||
2016 | 9,890,000 | ||
2017 | 8,873,000 | ||
Goodwill impairment | 3,000,000 | 0 | 0 |
Amount of core deposit intangible related to Fidelity Bank acquisition | 0 | ||
Core deposit intangible [Member] | |||
Summary of other intangible assets | |||
Total other intangible assets, gross carrying amount | 400,058,000 | 380,249,000 | |
Total other intangible assets, accumulated amortization | -366,907,000 | -335,552,000 | |
Total other intangible assets, net of carrying value | 33,151,000 | 44,697,000 | |
Customer relationship [Member] | |||
Summary of other intangible assets | |||
Total other intangible assets, gross carrying amount | 107,920,000 | 106,974,000 | |
Total other intangible assets, accumulated amortization | -66,534,000 | -58,675,000 | |
Total other intangible assets, net of carrying value | 41,386,000 | 48,299,000 | |
Other [Member] | |||
Summary of other intangible assets | |||
Total other intangible assets, gross carrying amount | 25,164,000 | 25,164,000 | |
Total other intangible assets, accumulated amortization | -25,030,000 | -24,967,000 | |
Total other intangible assets, net of carrying value | 134,000 | 197,000 | |
Retail & Business Banking [Member] | |||
Goodwill by business segment | |||
Beginning Balance | 286,824 | 286,824 | |
Goodwill acquired during the period | 81,273,000 | ||
Adjustments / Reallocation of goodwill | 0 | 0 | |
Goodwill impairment | 0 | ||
Ending Balance | 368,097 | 286,824 | |
Estimated amortization expense of other intangible assets | |||
Goodwill impairment | 0 | ||
Commercial Banking [Member] | |||
Goodwill by business segment | |||
Beginning Balance | 22,108 | 22,108 | |
Goodwill acquired during the period | 0 | ||
Adjustments / Reallocation of goodwill | -37,486 | 0 | |
Goodwill impairment | 0 | ||
Ending Balance | 59,594 | 22,108 | |
Estimated amortization expense of other intangible assets | |||
Goodwill impairment | 0 | ||
AFCRE [Member] | |||
Goodwill by business segment | |||
Beginning Balance | 0 | 0 | |
Goodwill acquired during the period | 0 | ||
Adjustments / Reallocation of goodwill | 0 | 0 | |
Goodwill impairment | 0 | ||
Ending Balance | 0 | 0 | |
Estimated amortization expense of other intangible assets | |||
Goodwill impairment | 0 | ||
RBPCG [Member] | |||
Goodwill by business segment | |||
Beginning Balance | 93,012 | 93,012 | |
Goodwill acquired during the period | 0 | ||
Adjustments / Reallocation of goodwill | 3,000 | 0 | |
Goodwill impairment | 0 | ||
Ending Balance | 90,012 | 93,012 | |
Estimated amortization expense of other intangible assets | |||
Goodwill impairment | 0 | ||
Home Lending [Member] | |||
Goodwill by business segment | |||
Beginning Balance | 0 | 0 | |
Goodwill acquired during the period | 0 | ||
Adjustments / Reallocation of goodwill | -3,000 | 0 | |
Goodwill impairment | -3,000 | ||
Ending Balance | 0 | 0 | |
Estimated amortization expense of other intangible assets | |||
Goodwill impairment | -3,000 | ||
Treasury Other [Member] | |||
Goodwill by business segment | |||
Beginning Balance | 42,324 | 42,324 | |
Goodwill acquired during the period | 0 | ||
Adjustments / Reallocation of goodwill | 37,486 | 0 | |
Goodwill impairment | 0 | ||
Ending Balance | 4,838 | 42,324 | |
Estimated amortization expense of other intangible assets | |||
Goodwill impairment | $0 |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets (Details Textuals) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Mar. 02, 2014 | Sep. 12, 2014 |
Business Acquisition Line Items | ||||
Goodwill | $522,541,000 | $444,268,000 | ||
Camco Financial [Member] | ||||
Business Acquisition Line Items | ||||
Goodwill | 64,200,000 | |||
Bank of America Branches [Member] | ||||
Business Acquisition Line Items | ||||
Goodwill | $17,100,000 |
Premises_and_Equipment_Details
Premises and Equipment (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment, Net, by Type [Abstract] | |||
Property, Plant and Equipment, Gross | $1,367,513 | $1,383,344 | |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | -751,106 | -748,687 | |
Property, Plant and Equipment, Net | 616,407 | 634,657 | |
Property Plant and Equipment Income Statement Disclosures [Abstract] | |||
Total Depreciation And Amotization Of Premises And Equipment | 82,296 | 78,601 | 76,170 |
Rental Income Credited To Occupancy Expense | 11,556 | 12,542 | 11,519 |
Land and Land Improvements [Member] | |||
Property, Plant and Equipment, Net, by Type [Abstract] | |||
Property, Plant and Equipment, Gross | 137,702 | 129,543 | |
Building [Member] | |||
Property, Plant and Equipment, Net, by Type [Abstract] | |||
Property, Plant and Equipment, Gross | 367,225 | 356,555 | |
Leaseholds and Leasehold Improvements [Member] | |||
Property, Plant and Equipment, Net, by Type [Abstract] | |||
Property, Plant and Equipment, Gross | 235,279 | 227,764 | |
Equipment [Member] | |||
Property, Plant and Equipment, Net, by Type [Abstract] | |||
Property, Plant and Equipment, Gross | $627,307 | $669,482 |
Short_Term_Borrowings_Details
Short Term Borrowings (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Short-term Debt [Line Items] | ||||
Short Term Borrowings | $2,397,101,000 | $2,352,143,000 | ||
Federal Funds Purchased and Securities Sold under Agreements to Repurchase [Member] | ||||
Short-term Debt [Line Items] | ||||
Short Term Borrowings | 1,058,096,000 | 548,605,000 | ||
Weighted average interest rate at year-end | 0.08% | 0.06% | 0.15% | |
Maximum amount outstanding at month-end during the year | 1,491,350,000 | 787,127,000 | 1,590,082,000 | |
Average amount outstanding during the year | 987,156,000 | 692,481,000 | 1,293,348,000 | |
Weighted average interest rate during the year | 0.07% | 0.08% | 0.14% | |
OtherBorrowings [Member] | ||||
Short-term Debt [Line Items] | ||||
Short Term Borrowings | 14,005,000 | 3,538,000 | ||
Weighted average interest rate at year-end | 1.11% | 2.59% | 1.98% | |
Maximum amount outstanding at month-end during the year | 56,124,000 | 19,497,000 | 26,071,000 | |
Average amount outstanding during the year | 20,797,000 | 7,815,000 | 16,983,000 | |
Weighted average interest rate during the year | 1.63% | 1.79% | 1.36% | |
Federal Home Loan Bank Advances [Member] | ||||
Short-term Debt [Line Items] | ||||
Short Term Borrowings | 1,325,000,000 | 1,800,000,000 | ||
Maximum amount outstanding at month-end during the year | 2,375,000,000 | 1,800,000 | 1,000,000 | |
Average amount outstanding during the year | $1,753,045 | $702,262 | $286,530 | |
Weighted average interest rate during the year | 0.06% | 0.04% | 0.17% | |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Weighted Average Interest Rate | 0.14% | 0.02% | 0.03% |
Other_Longterm_Debt_Details
Other Long-term Debt (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Debt Instrument [Line Items] | ||
Debt Instrument, Carrying Amount | $317,075,000 | |
Long-term borrowings | 4,335,962,000 | 2,458,272,000 |
Medium-term Notes [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Carrying Amount | 38,541,000 | 39,497,000 |
Debt Instrument, Interest Rate, Effective Percentage | 5.04% | |
Securitization Trust Note Payable Due 2018 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Maturity Date | 5-Mar-18 | |
Senior Note Payable Due August 2016 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Carrying Amount | 349,499,000 | 349,858,000 |
Debt Instrument, Interest Rate, Effective Percentage | 1.40% | |
Debt Instrument, Maturity Date | 2-Aug-16 | |
DebtInstrumentFaceAmount | 350,000,000 | |
DebtInstrumentpercentofvalue | 99.87% | |
Senior Note Payable Due November 2016 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Carrying Amount | 497,477,000 | 497,317,000 |
Debt Instrument, Interest Rate, Effective Percentage | 1.31% | |
Debt Instrument, Maturity Date | 20-Nov-16 | |
DebtInstrumentFaceAmount | 500,000,000 | |
DebtInstrumentpercentofvalue | 99.87% | |
Senior Note Payable Due April 2017 Fixed | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Carrying Amount | 499,759,000 | 0 |
Debt Instrument, Interest Rate, Effective Percentage | 2.23% | |
Debt Instrument, Maturity Date | 24-Apr-17 | |
DebtInstrumentFaceAmount | 500,000,000 | |
DebtInstrumentpercentofvalue | 99.84% | |
Senior Note Payable Due April 2017 Variable | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Carrying Amount | 250,000,000 | 0 |
Debt Instrument, Interest Rate, Effective Percentage | 6.67% | |
Debt Instrument, Maturity Date | 24-Apr-17 | |
DebtInstrumentFaceAmount | 250,000,000 | |
DebtInstrumentpercentofvalue | 100.00% | |
Debt Instrument, Description of Variable Rate Basis | three-month LIBOR | |
Senior Note Payable Due April 2019 Fixed | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Carrying Amount | 499,760,000 | 0 |
Debt Instrument, Interest Rate, Effective Percentage | 1.43% | |
Debt Instrument, Maturity Date | 1-Apr-19 | |
DebtInstrumentFaceAmount | 500,000,000 | |
DebtInstrumentpercentofvalue | 99.84% | |
Senior Note Payable Due August 2018 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Carrying Amount | 398,924,000 | 397,306,000 |
Debt Instrument, Interest Rate, Effective Percentage | 2.64% | |
Debt Instrument, Maturity Date | 2-Aug-18 | |
DebtInstrumentFaceAmount | 350,000,000 | |
DebtInstrumentpercentofvalue | 99.87% | |
Subordinated Notes Due 2020 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Carrying Amount | 330,105,000 | 323,856,000 |
Debt Instrument, Interest Rate, Effective Percentage | 7.00% | |
Debt Instrument, Maturity Date | 15-Dec-20 | |
Junior Subordianted Debentures Due 2027 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Carrying Amount | 111,816,000 | 111,816,000 |
Debt Instrument, Interest Rate, Effective Percentage | 0.93% | |
Debt Instrument, Maturity Date | 1-Feb-27 | |
Debt Instrument, Description of Variable Rate Basis | three-month LIBOR | |
Junior Subordinated Debentures Due 2028 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Carrying Amount | 54,593,000 | 54,593,000 |
Debt Instrument, Interest Rate, Effective Percentage | 0.87% | |
Debt Instrument, Maturity Date | 15-Jun-28 | |
Debt Instrument, Description of Variable Rate Basis | three-month LIBOR | |
Junior Subordinated Debentures Due 2036 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Carrying Amount | 72,165,000 | 72,165,000 |
Debt Instrument, Interest Rate, Effective Percentage | 1.66% | |
Debt Instrument, Maturity Date | 30-Jun-36 | |
Debt Instrument, Description of Variable Rate Basis | three-month LIBOR | |
Junior Subordinated Debentures2 Due 2036 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Carrying Amount | 74,320,000 | 74,320,000 |
Debt Instrument, Interest Rate, Effective Percentage | 1.64% | |
Debt Instrument, Maturity Date | 1-Jul-36 | |
Debt Instrument, Description of Variable Rate Basis | three-month LIBOR | |
Subordinated Notes Due 2014 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Carrying Amount | 0 | 125,109,000 |
Subordinated Notes Due 2016 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Carrying Amount | 105,731,000 | 108,038,000 |
Debt Instrument, Interest Rate, Effective Percentage | 5.92% | |
Debt Instrument, Maturity Date | 15-Feb-16 | |
DebtInstrumentFaceAmount | 103,000,000 | |
Subordinated Notes Due 2018 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Carrying Amount | 140,115,000 | 143,749,000 |
Debt Instrument, Interest Rate, Effective Percentage | 6.68% | |
Debt Instrument, Maturity Date | 15-Jun-18 | |
DebtInstrumentFaceAmount | 125,500,000 | |
Federal Home Loan Bank Advances [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Carrying Amount | 758,052,000 | 8,293,000 |
Debt Instrument, Interest Rate, Effective Percentage | 0.21% | |
DebtInstrumentFaceAmount | 2,100,000,000 | |
Subordinated Notes Due 2019 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Carrying Amount | 85,783,000 | 87,214,000 |
Debt Instrument, Interest Rate, Effective Percentage | 5.45% | |
Debt Instrument, Maturity Date | 28-Feb-19 | |
DebtInstrumentFaceAmount | 75,700,000 | |
Securitization Trust and Franklin Trust Other Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Carrying Amount | 65,141,000 | 65,141,000 |
Camco Statutory Trust Due 2037 [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Carrying Amount | $4,181,000 | $0 |
Debt Instrument, Interest Rate, Effective Percentage | 2.71% | |
Debt Instrument, Maturity Date | 15-Sep-37 | |
Debt Instrument, Description of Variable Rate Basis | three-month LIBOR |
Long_term_Debt_Maturities
Long term Debt Maturities (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Long Term Debt By Maturity [Line Items] | |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | $141 |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 1,703,009 |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 750,100 |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 526,744 |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 576,085 |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 724,645 |
SeniorNotesMember | |
Long Term Debt By Maturity [Line Items] | |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 850,000 |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 750,000 |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 400,000 |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 500,000 |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 35,000 |
JuniorSubordinatedDebtMember | |
Long Term Debt By Maturity [Line Items] | |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 103,009 |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 125,539 |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 75,716 |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 618,049 |
Securitization Trust and Franklin Trust Other Debt [Member] | |
Long Term Debt By Maturity [Line Items] | |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 141 |
Class B Preferred Securities Of Subsidiary No Maturity [Member] | |
Long Term Debt By Maturity [Line Items] | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 65,000 |
FederalHomeLoanBankAdvancesMember | |
Long Term Debt By Maturity [Line Items] | |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 750,000 |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 100 |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 1,205 |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 369 |
Long-term Debt, Maturities, Repayments of Principal after Year Five | $6,596 |
Other_Comprehensive_Income_Act
Other Comprehensive Income (Activity/Rollforward) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Pretax | |||
Non-credit-related impairment losses (recoveries) on debt (equity) securities not expected to be sold, before-tax | $13,583,000 | $235,000 | $19,215,000 |
Less: Reclassification adjustment for net losses (gains) losses included in net income, pretax | -15,559,000 | 6,211,000 | -4,769,000 |
Less: Reclassification adjustment for net losses (gains) losses included in net income, pretax | -3,971,000 | -15,188,000 | 14,992,000 |
Amortization of net actuarial loss and prior service cost included in income, pretax | -13,106,000 | 27,013,000 | |
Total other comprehensive income (loss), pretax | -11,750,000 | -97,404,000 | 36,110,000 |
Tax (Expense) Benefit | |||
Non-credit-related impairment losses (recoveries) on debt (equity) securities not expected to be sold, tax (expense) benefit | -4,803,000 | -82,000 | -6,725,000 |
Less: Reclassification adjustment for net losses (gains) losses included in net income, tax (expense) benefit | 5,446,000 | -2,174,000 | 1,669,000 |
Less: Reclassification adjustment for net losses (gains) losses included in net income, tax (expense) benefit | 1,390,000 | 5,316,000 | -5,237,000 |
Amortization of net actuarial loss and prior service cost included in income, tax (expense) benefit | 4,588,000 | -9,455,000 | |
Total other comprehensive income (loss), tax (expense) benefit | 3,467,000 | 34,212,000 | -13,164,000 |
After-tax | |||
Transisition obligation | 8,780,000 | 153,000 | 12,490,000 |
Less: Reclassification adjustment for net losses (gains) losses included in net income, after-tax | -10,113,000 | 4,037,000 | -3,100,000 |
Net change in unrealized holding gains (losses) on debt (equity) securities available for sale | 45,783,000 | -77,593,000 | 55,305,000 |
Less: Reclassification adjustment for net losses (gains) losses included in net income, after-tax | -2,581,000 | -9,872,000 | 9,755,000 |
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships, after tax | 6,611,000 | -65,928,000 | 6,186,000 |
Amortization of net actuarial loss and prior service cost included in income, net of tax | -8,518,000 | 17,558,000 | |
Change in pension and post-retirement benefit plan assets and liabilities, after-tax | -69,457,000 | 80,176,000 | -51,035,000 |
Total other comprehensive income (loss) | -8,283,000 | -63,192,000 | 22,946,000 |
Activity in accumulated other comprehensive income, net of tax | |||
Beginning Balance | -214,009,000 | -150,817,000 | |
Period change | -8,283,000 | -63,192,000 | |
OCI before reclassifications | 73,868,000 | -48,839,000 | |
Amounts reclassified from accumulated OCI | -82,151,000 | -14,353,000 | |
Ending Balance | -222,292,000 | -214,009,000 | |
Other Comprehensive Income (Textual) [Abstract] | |||
Unrealized losses transferred from the available for sale securities portfolio to the held to maturity securities | 200,000 | ||
Unrealized gains and losses on debt securities [Member] | |||
Pretax | |||
Unrealized holding gains (losses) on debt (equity) securities available for sale arising during the period, pretax | 86,618,000 | -125,919,000 | 90,318,000 |
Net change in unrealized holding gains (losses) on debt (equity) securities available for sale, pretax | 84,642,000 | -119,473,000 | 104,764,000 |
Tax (Expense) Benefit | |||
Unrealized holding gains (losses) on debt (equity) securities available for sale arising during the period, tax (expense) benefit | -30,914,000 | 44,191,000 | -32,137,000 |
Net change in unrealized holding gains (losses) on debt (equity) securities available for sale, tax (expense) benefit | -30,271,000 | 41,935,000 | -37,193,000 |
After-tax | |||
Unrealized holding gains (losses) on debt (equity) securities available for sale arising during the period, after-tax | 55,704,000 | -81,728,000 | 58,181,000 |
Net change in unrealized holding gains (losses) on debt (equity) securities available for sale | 54,371,000 | -77,538,000 | 67,571,000 |
Activity in accumulated other comprehensive income, net of tax | |||
Beginning Balance | -39,234,000 | 38,304,000 | |
Period change | 54,371,000 | -77,538,000 | |
OCI before reclassifications | -81,575,000 | ||
Amounts reclassified from accumulated OCI | 4,037,000 | ||
Ending Balance | 15,137,000 | -39,234,000 | |
Unrealized gains and losses on equity securities [Member] | |||
Pretax | |||
Net change in unrealized holding gains (losses) on debt (equity) securities available for sale, pretax | 295,000 | 151,000 | 344,000 |
Tax (Expense) Benefit | |||
Net change in unrealized holding gains (losses) on debt (equity) securities available for sale, tax (expense) benefit | -103,000 | -53,000 | -120,000 |
After-tax | |||
Net change in unrealized holding gains (losses) on debt (equity) securities available for sale | 192,000 | 98,000 | 224,000 |
Activity in accumulated other comprehensive income, net of tax | |||
Beginning Balance | 292,000 | 194,000 | |
Period change | 192,000 | 98,000 | |
OCI before reclassifications | 98,000 | ||
Amounts reclassified from accumulated OCI | 0 | ||
Ending Balance | 484,000 | 292,000 | |
Unrealized gains and losses on cash flow hedging derivatives [Member] | |||
Pretax | |||
Unrealized gains and losses on derivatives used in cash flow hedging relationships arising during the period, pretax | 14,141,000 | -86,240,000 | -5,476,000 |
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships, pretax | 10,170,000 | -101,428,000 | 9,516,000 |
Tax (Expense) Benefit | |||
Unrealized gains and losses on derivatives used in cash flow hedging relationships arising during the period, tax (expense) benefit | -4,949,000 | 30,184,000 | 1,907,000 |
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships | -3,559,000 | 35,500,000 | -3,330,000 |
After-tax | |||
Unrealized gains and losses on derivatives used in cash flow hedging relationships arising during the period, after-tax | 9,192,000 | -56,056,000 | -3,569,000 |
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships, after tax | 6,611,000 | -65,928,000 | 6,186,000 |
Activity in accumulated other comprehensive income, net of tax | |||
Beginning Balance | -18,844,000 | 47,084,000 | |
Period change | 6,611,000 | -65,928,000 | |
OCI before reclassifications | 9,192,000 | -56,056,000 | |
Amounts reclassified from accumulated OCI | -2,581,000 | -9,872,000 | |
Ending Balance | -12,233,000 | -18,844,000 | |
Accumulated Unrealized Losses for Pension and Other Post-retirement obligations [Member] | |||
Pretax | |||
Net actuarial gains (losses) arising during the year, pretax | 136,452,000 | -105,527,000 | |
Change in pension and post-retirement benefit plan assets and liabilities, pretax | -106,857,000 | 123,346,000 | -78,514,000 |
Tax (Expense) Benefit | |||
Net actuarial gains (losses) arising during the year, tax (expense) benefit | -47,758,000 | 36,934,000 | |
Change in pension and post-retirement benefit plan assets and liabilities, tax (expense) benefit | 37,400,000 | -43,170,000 | 27,479,000 |
After-tax | |||
Net actuarial gains (losses) arising during the year, net of tax | 88,694,000 | -68,593,000 | |
Change in pension and post-retirement benefit plan assets and liabilities, after-tax | -69,457,000 | 80,176,000 | -51,035,000 |
Activity in accumulated other comprehensive income, net of tax | |||
Beginning Balance | -156,223,000 | -236,399,000 | |
Period change | -69,457,000 | 80,176,000 | |
OCI before reclassifications | 0 | 88,694,000 | |
Amounts reclassified from accumulated OCI | -69,457,000 | -8,518,000 | |
Ending Balance | -225,680,000 | -156,223,000 | |
Equity Securities [Member] | Unrealized gains and losses on equity securities [Member] | |||
Activity in accumulated other comprehensive income, net of tax | |||
OCI before reclassifications | 192,000 | ||
Amounts reclassified from accumulated OCI | 0 | ||
Debt Securities [Member] | Unrealized gains and losses on debt securities [Member] | |||
Activity in accumulated other comprehensive income, net of tax | |||
OCI before reclassifications | 64,484,000 | ||
Amounts reclassified from accumulated OCI | ($10,113,000) |
Other_Comprehensive_Income_Rec
Other Comprehensive Income (Reclassifications) (Details 1) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Interest income - held-to-maturity securities - taxable | $88,724,000 | $50,214,000 | $24,088,000 | ||||||||
Gain (Loss) on Sale of Securities, Net | 17,554,000 | 2,220,000 | 6,388,000 | ||||||||
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | 0 | 1,802,000 | 1,619,000 | ||||||||
Interest income - loans and leases | 1,674,563,000 | 1,629,939,000 | 1,675,295,000 | ||||||||
Noninterest income - other income | 126,004,000 | 138,825,000 | 137,707,000 | ||||||||
Other Noninterest Expense | 174,810,000 | 141,385,000 | 199,219,000 | ||||||||
Net actuarial gains (losses) | -13,106,000 | 27,013,000 | |||||||||
Transisition obligation | 8,780,000 | 153,000 | 12,490,000 | ||||||||
Income before income taxes | 220,765,000 | 208,886,000 | 222,094,000 | 201,240,000 | 210,201,000 | 243,883,000 | 206,269,000 | 208,403,000 | 852,985,000 | 868,756,000 | 833,581,000 |
Income Tax Expense (Benefit) | 57,151,000 | 53,870,000 | 57,475,000 | 52,097,000 | 52,029,000 | 65,047,000 | 55,269,000 | 55,129,000 | 220,593,000 | 227,474,000 | 202,291,000 |
Net income applicable to common shareholders | 155,651,000 | 147,052,000 | 156,656,000 | 141,179,000 | 150,207,000 | 170,869,000 | 143,033,000 | 145,304,000 | 600,538,000 | 609,413,000 | 599,301,000 |
Interest Income, Securities, Taxable | 171,080,000 | 148,557,000 | 184,340,000 | ||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||||||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Gain (Loss) on Sale of Securities, Net | 14,962,000 | ||||||||||
Income before income taxes | 15,559,000 | ||||||||||
Income Tax Expense (Benefit) | -5,446,000 | ||||||||||
Net income applicable to common shareholders | 10,113,000 | ||||||||||
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||||||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Interest income - held-to-maturity securities - taxable | 597,000 | ||||||||||
Accumulated Other-than-Temporary Impairment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||||||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | 0 | ||||||||||
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||||||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Income before income taxes | 3,971,000 | ||||||||||
Income Tax Expense (Benefit) | -1,390,000 | ||||||||||
Net income applicable to common shareholders | 2,581,000 | ||||||||||
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Interest Rate Contract [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||||||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Interest income - loans and leases | 4,064,000 | ||||||||||
Noninterest income - other income | -93,000 | ||||||||||
Interest Income, Securities, Taxable | 0 | ||||||||||
Accumulated Defined Benefit Plans Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||||||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Other Noninterest Expense | 0 | ||||||||||
Net actuarial gains (losses) | 106,857,000 | ||||||||||
Prior service costs | 0 | ||||||||||
Transisition obligation | 0 | ||||||||||
Curtailment | 0 | ||||||||||
Income before income taxes | 106,857,000 | ||||||||||
Income Tax Expense (Benefit) | -37,400,000 | ||||||||||
Net income applicable to common shareholders | $69,457,000 |
Shareholders_Equity_Details
Shareholder's Equity (Details) (USD $) | 12 Months Ended | |||
In Thousands, except Share data in Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2010 |
Shareholder's Equity (Textuals) [Abstract] | ||||
Term to exercise warrants (years) | 10 years | |||
Purchase of common stock shares | 35.7 | |||
Purchase of common stock shares, value | ($334,429) | ($124,995) | ($148,881) | |
Purchase of common stock, average price per share | $9.37 |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Basic earnings per common share: | |||||||||||
Net income | $163,614 | $155,016 | $164,619 | $149,143 | $158,172 | $178,836 | $151,000 | $153,274 | $632,392 | $641,282 | $631,290 |
Preferred stock dividends, deemed dividend and accretion of discount | -7,963 | -7,964 | -7,963 | -7,964 | -7,965 | -7,967 | -7,967 | -7,970 | -31,854 | -31,869 | -31,989 |
Net income applicable to common shareholders | 155,651 | 147,052 | 156,656 | 141,179 | 150,207 | 170,869 | 143,033 | 145,304 | 600,538 | 609,413 | 599,301 |
Average common shares issued and outstanding | 819,917,000 | 834,205,000 | 857,962,000 | ||||||||
Basic earnings per common share | $0.19 | $0.18 | $0.19 | $0.17 | $0.18 | $0.21 | $0.17 | $0.17 | $0.73 | $0.73 | $0.70 |
Diluted earnings per common share | |||||||||||
Net income applicable to common shareholders | 155,651 | 147,052 | 156,656 | 141,179 | 150,207 | 170,869 | 143,033 | 145,304 | 600,538 | 609,413 | 599,301 |
Effect of assumed preferred stock conversion | 7,963 | 7,964 | 7,963 | 7,964 | 7,965 | 7,967 | 7,967 | 7,970 | 31,854 | 31,869 | 31,989 |
Net income applicable to diluted earnings per share | $600,538 | $609,413 | $599,301 | ||||||||
Average common shares issued and outstanding | 819,917,000 | 834,205,000 | 857,962,000 | ||||||||
Dilutive potential common shares: | |||||||||||
Stock options and restricted stock units | 11,421,000 | 8,418,000 | 4,202,000 | ||||||||
Shares held in deferred compensation plans | 1,420,000 | 1,351,000 | 1,238,000 | ||||||||
Other | 323,000 | 0 | 0 | ||||||||
Dilutive potential common shares: | 13,164,000 | 9,769,000 | 5,440,000 | ||||||||
Total diluted average common shares issued and outstanding | 833,081,000 | 843,974,000 | 863,402,000 | ||||||||
Diluted earnings (loss) per common share | $0.19 | $0.18 | $0.19 | $0.17 | $0.18 | $0.20 | $0.17 | $0.17 | $0.72 | $0.72 | $0.69 |
Stock Options [Member] | |||||||||||
Earnings Loss Per Share (Textuals) [Abstract] | |||||||||||
Options outstanding to purchase common stock shares having antidilutive effect | 2,600,000 | 6,600,000 | 24,400,000 |
Share_Based_Compensation_Assum
Share Based Compensation (Assumptions) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Assumptions | |||
Weighted-average grant date fair value per share | $2.13 | $1.71 | $1.78 |
Risk-free interest rate | 1.69% | 0.79% | 1.10% |
Expected dividend yield | 2.61% | 2.83% | 2.38% |
Expected volatility of Huntington's common stock | 32.30% | 35.00% | 34.90% |
Expected option term (years) | 5 years | 5 years 6 months | 6 years |
Share_Based_Compensation_Expen
Share Based Compensation (Expense) (Details 1) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Share based compensation expense and related tax benefit | |||
Share-based compensation expense | $43,666 | $37,007 | $27,873 |
Tax (expense) benefit | $14,779 | $12,472 | $9,298 |
Share_Based_Compensation_Optio
Share Based Compensation (Options) (Details 2) (USD $) | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2012 |
Stock option activity and related information | ||
Outstanding Beginning balance, options | 23,300,000 | |
Outstanding Beginning balance, Weighted average exercise price | $7.61 | |
Granted, options | 1,807,000 | |
Options Acquired, Options | 214 | |
Granted, Weighted average exercise price | $9.22 | |
Exercised, options | 3,528,000 | 0 |
Exercised, Weighted Average Exercise price | $6.02 | |
Forfeited or expired , options | -2,174,000 | |
Forfeited or expired, Weighted average exercise price | $17.20 | |
Outstanding Ending balance, options | 19,619,000 | |
Outstanding Ending balance, Weighted average exercise price | $6.99 | |
Outstanding Ending balance, Weighted average remaining contractual life (years) | 3 years 11 months | |
Outstanding Ending balance, Aggregate intrinsic value | $75,794 | |
Vested and expected to vest, options | 4,950,000 | |
Vested and expected to vest, Weighted average exercise price | $7.64 | |
Vested and expected to vest, Weighted average remaining contractual life (years) | 5 years 5 months | |
Vested and expected to vest, Aggregate intrinsic value | 14,272 | |
Exercisable, options | 14,193,000 | |
Exercisable, Weighted average exercise price | $6.73 | |
Exercisable, Weighted average Remaining contractual life (years) | 3 years 4 months | |
Exercisable, Aggregate intrinsic value | $60,311 |
Share_Based_Compensation_RSURS
Share Based Compensation (RSU/RSA) (Details 3) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Summary of restricted stock units and restricted stock awards | |||
Granted, weighted average grant date fair value per share | $9.09 | $7.12 | $6.69 |
Restricted stock awards [Member] | |||
Summary of restricted stock units and restricted stock awards | |||
Nonvested Beginning balance | 0 | ||
Nonvested Beginning balance, Weighted average grant date fair value per share | $0 | ||
Granted | 0 | ||
Granted, weighted average grant date fair value per share | $0 | ||
Assumed | 27 | ||
Assumed, Weighted Average Grant Date Fair Value Per Share | $0 | ||
Released | 14 | ||
Released, Weighted average grant date fair value per share | $9.53 | ||
Forfeited | 1 | ||
Forfeited, Weighted average grant date fair value per share | $9.53 | ||
Nonvested Ending balance | 12 | ||
Nonvested, Weighted average grant date fair value per share | $9.53 | ||
Restricted Stock Unit [Member] | |||
Summary of restricted stock units and restricted stock awards | |||
Nonvested Beginning balance | 12,064 | ||
Nonvested Beginning balance, Weighted average grant date fair value per share | $6.80 | ||
Granted | 4,600 | ||
Granted, weighted average grant date fair value per share | $9.12 | ||
Released | 4,003 | ||
Released, Weighted average grant date fair value per share | $6.39 | ||
Forfeited | -757 | ||
Forfeited, Weighted average grant date fair value per share | $7.54 | ||
Nonvested Ending balance | 11,904 | ||
Nonvested, Weighted average grant date fair value per share | $7.79 | ||
Performance Share Awards [Member] | |||
Summary of restricted stock units and restricted stock awards | |||
Nonvested Beginning balance | 1,646 | ||
Nonvested Beginning balance, Weighted average grant date fair value per share | $6.95 | ||
Granted | 1,076 | ||
Granted, weighted average grant date fair value per share | $8.96 | ||
Released | 0 | ||
Released, Weighted average grant date fair value per share | $0 | ||
Forfeited | 143 | ||
Forfeited, Weighted average grant date fair value per share | $7.26 | ||
Nonvested Ending balance | 2,579 | ||
Nonvested, Weighted average grant date fair value per share | $7.76 |
Share_Based_Compensation_Optio1
Share Based Compensation (Options by Price) (Details 4) (USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, End of Period [Abstract] | |
Outstanding options, shares | 19,619 |
Outstanding options, weighted-average remaining contractual life (in years) | 4 years 2 months |
Outstanding options, weighted-average exercise price | $6.99 |
Exercisable options, shares | 14,193 |
Exercisable options, weighted-average exercise price | $6.73 |
Range 1 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise price range, lower range limit | $0 |
Exercise price range, upper range limit | $5.63 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, End of Period [Abstract] | |
Outstanding options, shares | 1,843 |
Outstanding options, weighted-average remaining contractual life (in years) | 2 years 7 months |
Outstanding options, weighted-average exercise price | $4.64 |
Exercisable options, shares | 1,836 |
Exercisable options, weighted-average exercise price | $4.64 |
Range 2 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise price range, lower range limit | $5.64 |
Exercise price range, upper range limit | $6.02 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, End of Period [Abstract] | |
Outstanding options, shares | 7,110 |
Outstanding options, weighted-average remaining contractual life (in years) | 4 years 5 months |
Outstanding options, weighted-average exercise price | $6.02 |
Exercisable options, shares | 7,078 |
Exercisable options, weighted-average exercise price | $6.02 |
Range 3 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise price range, lower range limit | $6.03 |
Exercise price range, upper range limit | $15.95 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, End of Period [Abstract] | |
Outstanding options, shares | 10,087 |
Outstanding options, weighted-average remaining contractual life (in years) | 5 years 1 month |
Outstanding options, weighted-average exercise price | $7.26 |
Exercisable options, shares | 4,700 |
Exercisable options, weighted-average exercise price | $6.78 |
Range 4 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise price range, lower range limit | $15.96 |
Exercise price range, upper range limit | $22.73 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, End of Period [Abstract] | |
Outstanding options, shares | 579 |
Outstanding options, weighted-average remaining contractual life (in years) | 0 years 10 months |
Outstanding options, weighted-average exercise price | $21.74 |
Exercisable options, shares | 579 |
Exercisable options, weighted-average exercise price | $21.74 |
Share_Based_Compensation_Detai
Share Based Compensation (Details Textual) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Share Based Compensation (Textuals) [Abstract] | |||
Total fair value of awards vested | $25.70 | $13.70 | $9.10 |
Share Based Compensation (Additional Textuals) [Abstract] | |||
Typical vesting rate for options granted | 3 years | ||
Cash received for exercises of stock options | 21.2 | 14.4 | 2.3 |
Tax benefit realized from stock option exercises | 3.5 | 1.8 | 0.3 |
Exercise of stock option | 3,528,000 | 0 | |
Award vested as of grant date | 100.00% | ||
Granted, weighted average grant date fair value per share | $9.09 | $7.12 | $6.69 |
Total unrecognized compensation cost related to nonvested awards | $61.10 | ||
Weighted-average expense recognition period | 2 years 6 months | ||
Common stock available for future grants | 15,300,000 | ||
After May 2004 [Member] | |||
Share Based Compensation (Textuals) [Abstract] | |||
Options granted, term | P7Y | ||
Prior to May 2004 [Member] | |||
Share Based Compensation (Textuals) [Abstract] | |||
Options granted, term | P10Y | ||
Restricted stock awards [Member] | |||
Share Based Compensation (Additional Textuals) [Abstract] | |||
Granted, weighted average grant date fair value per share | $0 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Current Tax Provision Benefit [Line Items] | ||||||||||||
Federal current tax provision | $186,436,000 | $117,174,000 | $35,387,000 | |||||||||
State current tax provision | -1,017,000 | 4,278,000 | 6,966,000 | |||||||||
Total current tax provision (benefit) | 185,419,000 | 121,452,000 | 42,353,000 | |||||||||
Deferred Tax Provision Benefit [Line Items] | ||||||||||||
Federal deferred tax provision | 41,167,000 | 112,681,000 | 193,211,000 | |||||||||
State deferred tax provision | -5,993,000 | -6,659,000 | -33,273,000 | |||||||||
Total deferred tax provision (benefit) | 35,174,000 | 106,022,000 | 159,938,000 | |||||||||
Provision for income taxes | 57,151,000 | 53,870,000 | 57,475,000 | 52,097,000 | 52,029,000 | 65,047,000 | 55,269,000 | 55,129,000 | 220,593,000 | 227,474,000 | 202,291,000 | |
Gross Unrecognized Tax Benefits Reconcilement [Line Items] | ||||||||||||
Unrecognized Tax Benefits, Beginning Balance | 704,000 | 704,000 | 6,246,000 | |||||||||
Gross increases for tax positions taken during prior years | 468,000 | 0 | ||||||||||
Gross decreases for tax positions taken during prior years | 0 | -5,048,000 | ||||||||||
Unrecognized Tax Benefits, Ending Balance | 1,172,000 | 704,000 | 1,172,000 | 704,000 | ||||||||
Provision (benefit) for income taxes reconcilement | ||||||||||||
Provision (benefit) for income taxes computed at the statutory rate | 298,545,000 | 304,065,000 | 291,753,000 | |||||||||
Tax-exempt interest income | -17,971,000 | -34,378,000 | -15,752,000 | |||||||||
Tax-exempt bank owned life insurance income | -19,967,000 | -19,747,000 | -19,151,000 | |||||||||
Dividends | 0 | 0 | 0 | |||||||||
General business credits | -46,047,000 | -39,868,000 | -49,654,000 | |||||||||
State deferred tax asset valuation allowance adjustment, net | -7,430,000 | -6,020,000 | -21,251,000 | |||||||||
Capital loss | -26,948,000 | -961,000 | -18,659,000 | |||||||||
Affordable housing investment amortization | 33,752,000 | 16,851,000 | 28,855,000 | |||||||||
State income taxes, net | 2,873,000 | 4,472,000 | 4,152,000 | |||||||||
Other, net | 3,786,000 | 3,060,000 | 1,998,000 | |||||||||
Provision for income taxes | 57,151,000 | 53,870,000 | 57,475,000 | 52,097,000 | 52,029,000 | 65,047,000 | 55,269,000 | 55,129,000 | 220,593,000 | 227,474,000 | 202,291,000 | |
Deferred Tax Assets | ||||||||||||
Allowance for credit losses | 233,656,000 | 244,684,000 | 233,656,000 | 244,684,000 | ||||||||
Loss and other carryforwards | 161,548,000 | 153,826,000 | 161,548,000 | 153,826,000 | ||||||||
Fair value adjustments | 119,512,000 | 115,874,000 | 119,512,000 | 115,874,000 | ||||||||
Tax credit carryforward | 30,825,000 | 50,137,000 | 30,825,000 | 50,137,000 | ||||||||
Accrued expense / prepaid | 48,656,000 | 39,636,000 | 48,656,000 | 39,636,000 | ||||||||
Market Discount | 12,215,000 | 20,671,000 | 12,215,000 | 20,671,000 | ||||||||
Partnership investments | 24,123,000 | 13,552,000 | 24,123,000 | 13,552,000 | ||||||||
Purchase accounting adjustments | 13,839,000 | 14,096,000 | 13,839,000 | 14,096,000 | ||||||||
Other | 9,477,000 | 10,437,000 | 9,477,000 | 10,437,000 | ||||||||
Total deferred tax assets | 653,851,000 | 662,913,000 | 653,851,000 | 662,913,000 | ||||||||
Deferred Tax Liabilities | ||||||||||||
Lease financing | 202,298,000 | 146,814,000 | 202,298,000 | 146,814,000 | ||||||||
Purchase accounting adjustments | 17,299,000 | 39,578,000 | 17,299,000 | 39,578,000 | ||||||||
Loan origination costs | 103,025,000 | 82,345,000 | 103,025,000 | 82,345,000 | ||||||||
Mortgage servicing rights | 47,748,000 | 48,007,000 | 47,748,000 | 48,007,000 | ||||||||
Securities adjustments | 27,856,000 | 33,719,000 | 27,856,000 | 33,719,000 | ||||||||
Operating assets | 50,266,000 | 46,524,000 | 50,266,000 | 46,524,000 | ||||||||
Pension and other employee benefits | 9,677,000 | 12,608,000 | 9,677,000 | 12,608,000 | ||||||||
Other | 5,178,000 | 11,313,000 | 5,178,000 | 11,313,000 | ||||||||
Total deferred tax liabilities | 463,347,000 | 420,908,000 | 463,347,000 | 420,908,000 | ||||||||
Net deferred tax asset before valuation | 190,504,000 | 242,005,000 | 190,504,000 | 242,005,000 | ||||||||
Valuation allowance | -73,057,000 | -111,435,000 | -73,057,000 | -111,435,000 | ||||||||
Total net deferred tax asset | 117,447,000 | 130,570,000 | 117,447,000 | 130,570,000 | ||||||||
Income Taxes Textuals [Abstract] | ||||||||||||
Interest expense (benefit) recognized on income tax assessments or income tax refunds | 0 | 200,000 | 100,000 | |||||||||
Total interest accrued on the unrecognized tax benefits | 0 | 100,000 | 0 | 100,000 | ||||||||
Tax benefits associated with securities transactions | 0 | 0 | 0 | 0 | 1,700,000 | |||||||
Net operating loss carryforward, federal | 5,400,000 | 5,400,000 | ||||||||||
Net operating loss carryfoward, state | 52,100,000 | 52,100,000 | ||||||||||
Alternative minimum tax credit carryforward | 50,100,000 | 50,100,000 | ||||||||||
General business credit carryover | 0 | 0 | ||||||||||
Capital loss carryforward | 96,300,000 | 96,300,000 | ||||||||||
Charitable contribution carryforward | $0 | $0 |
Income_Taxes_Details_2
Income Taxes (Details 2) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
ValuationAllowanceLineItems | ||
Valuation allowance | 73,057,000 | $111,435,000 |
Operating loss carryfoward, State | ||
ValuationAllowanceLineItems | ||
Tax credit carryforward expiration | 31-Dec-15 | |
Operating loss carryfoward, Federal | ||
ValuationAllowanceLineItems | ||
Tax credit carryforward expiration | 31-Dec-23 | |
Capital loss carryforward | ||
ValuationAllowanceLineItems | ||
Valuation allowance | 96,300,000 | |
Change in deferred tax asset valuation allowance | 0 | |
Tax credit carryforward expiration | 31-Dec-15 | |
General business credit carryover | ||
ValuationAllowanceLineItems | ||
Tax credit carryforward expiration | 31-Dec-27 | |
Charitable contribution carryforward | ||
ValuationAllowanceLineItems | ||
Change in deferred tax asset valuation allowance | -15,100,000 | |
Tax credit carryforward expiration | 31-Dec-16 |
Benefit_Plans_Details
Benefit Plans (Details) (USD $) | 12 Months Ended | ||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||
Change in Fair Value of Plan Assets [Abstract] | |||||
Defined Benefit Plan, Fair Value of Plan Assets, Ending Balance | $653,013 | $649,020 | |||
Pension Benefits [Member] | |||||
Components of net periodic benefit expense [Abstract] | |||||
Service cost | 1,740 | 25,122 | 24,869 | ||
Interest cost | 32,398 | 30,112 | 29,215 | ||
Expected return on plan assets | -45,783 | -47,716 | -45,730 | ||
Amortization of transition asset | 0 | 0 | -4 | ||
Amortization of prior service cost | 0 | -2,883 | -5,767 | ||
Amortization of gains (losses) | 5,767 | 23,044 | 26,956 | ||
Curtailments | 0 | -34,613 | 0 | ||
Settlements | 11,200 | 8,116 | 5,405 | ||
Benefit cost | 5,322 | 1,182 | 34,944 | ||
Change in Benefit Obligation [Roll Forward] | |||||
Defined Benefit Plan, Benefit Obligation, Beginning Balance | 684,999 | 783,778 | |||
Service cost | 1,740 | 25,122 | 24,869 | ||
Interest cost | 32,398 | 30,112 | 29,215 | ||
Benefits Paid | -16,221 | -14,886 | |||
Settlements | -27,045 | -19,363 | |||
Plan Amendments | 0 | -13,559 | |||
Curtailments | 0 | -7,875 | |||
Gross Prescription Drug Subsidy Receipts Received | 0 | 0 | |||
Actuarial Net (Gains) Losses | 123,723 | -98,330 | |||
Period Increase (Decrease) | 114,595 | -98,779 | |||
Defined Benefit Plan, Benefit Obligation, Ending Balance | 799,594 | 684,999 | 783,778 | ||
Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||||
Discount Rate | 4.12% | 4.89% | |||
Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||||
Discount Rate | 4.89% | 4.15% | |||
Long-term Return on Assets | 7.25% | 7.63% | |||
Compensation Increase | 4.50% | ||||
Change in Fair Value of Plan Assets [Abstract] | |||||
Defined Benefit Plan, Fair Value of Plan Assets, Beginning Balance | 649,020 | 633,617 | |||
Actual Return on Plan Assets | 44,312 | 49,652 | |||
Settlements, Plan Assets | -24,098 | -19,363 | |||
Benefits Paid | -16,221 | -14,886 | |||
Period Increase (Decrease) | 3,993 | 15,403 | |||
Defined Benefit Plan, Fair Value of Plan Assets, Ending Balance | 653,013 | 649,020 | 633,617 | ||
Estimated Future Benefit Payments [Abstract] | |||||
2015 | 48,851 | ||||
2016 | 48,416 | ||||
2017 | 45,378 | ||||
2018 | 43,332 | ||||
2019 | 43,238 | ||||
2020 through 2024 | 209,153 | ||||
Defined Benefit Plan, Information about Plan Assets [Abstract] | |||||
Shares of Huntington Stock | 0 | [1] | 2,095,304 | [1] | |
Dividends on Huntington Stock | 267 | 992 | |||
Post Retirement Benefits [Member] | |||||
Components of net periodic benefit expense [Abstract] | |||||
Service cost | 0 | 0 | 0 | ||
Interest cost | 856 | 862 | 1,350 | ||
Expected return on plan assets | 0 | 0 | 0 | ||
Amortization of transition asset | 0 | 0 | 0 | ||
Amortization of prior service cost | -1,609 | -1,353 | -1,353 | ||
Amortization of gains (losses) | -571 | -600 | -332 | ||
Curtailments | 0 | 0 | 0 | ||
Settlements | 0 | 0 | 0 | ||
Benefit cost | -1,324 | -1,091 | -335 | ||
Change in Benefit Obligation [Roll Forward] | |||||
Defined Benefit Plan, Benefit Obligation, Beginning Balance | 25,669 | 27,787 | |||
Service cost | 0 | 0 | 0 | ||
Interest cost | 856 | 862 | 1,350 | ||
Benefits Paid | -3,401 | -3,170 | |||
Settlements | 0 | 0 | |||
Plan Amendments | -8,782 | 0 | |||
Curtailments | 0 | 0 | |||
Gross Prescription Drug Subsidy Receipts Received | 462 | 564 | |||
Actuarial Net (Gains) Losses | 1,159 | -374 | |||
Period Increase (Decrease) | -9,706 | -2,118 | |||
Defined Benefit Plan, Benefit Obligation, Ending Balance | 15,963 | 25,669 | 27,787 | ||
Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||||
Discount Rate | 3.72% | 4.27% | |||
Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||||
Discount Rate | 4.11% | 3.28% | |||
Change in Fair Value of Plan Assets [Abstract] | |||||
Benefits Paid | -3,401 | -3,170 | |||
Estimated Future Benefit Payments [Abstract] | |||||
2015 | 1,419 | ||||
2016 | 1,329 | ||||
2017 | 1,235 | ||||
2018 | 1,154 | ||||
2019 | 1,098 | ||||
2020 through 2024 | $4,997 | ||||
[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. |
Benefit_Plans_Details_1
Benefit Plans (Details 1) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Summary of plan assets investments | ||
Fair value of plan assets | $653,013 | $649,020 |
Fair value of plan assets, Percentage | 100.00% | 100.00% |
Huntington funds - money market [Member] | ||
Summary of plan assets investments | ||
Fair value of plan assets | 16,136 | 803 |
Fair value of plan assets, Percentage | 2.00% | 0.00% |
Huntington funds - fixed income funds [Member] | ||
Summary of plan assets investments | ||
Fair value of plan assets | 0 | 74,048 |
Fair value of plan assets, Percentage | 0.00% | 11.00% |
Corporate Obligations [Member] | ||
Summary of plan assets investments | ||
Fair value of plan assets | 218,077 | 180,757 |
Fair value of plan assets, Percentage | 33.00% | 28.00% |
U.S. Government Obligations [Member] | ||
Summary of plan assets investments | ||
Fair value of plan assets | 62,627 | 51,932 |
Fair value of plan assets, Percentage | 10.00% | 8.00% |
Mutual funds - fixed income | ||
Summary of plan assets investments | ||
Fair value of plan assets | 34,761 | 0 |
Fair value of plan assets, Percentage | 5.00% | 0.00% |
U.S. Government Agencies [Member] | ||
Summary of plan assets investments | ||
Fair value of plan assets | 7,445 | 6,146 |
Fair value of plan assets, Percentage | 1.00% | 1.00% |
Mutual Funds - equities | ||
Summary of plan assets investments | ||
Fair value of plan assets | 147,191 | 0 |
Fair value of plan assets, Percentage | 23.00% | 0.00% |
Other Common Stock | ||
Summary of plan assets investments | ||
Fair value of plan assets | 118,970 | 0 |
Fair value of plan assets, Percentage | 18.00% | 0.00% |
Huntington common stock [Member] | ||
Summary of plan assets investments | ||
Fair value of plan assets | 0 | 20,324 |
Fair value of plan assets, Percentage | 0.00% | 3.00% |
Huntington funds - equity funds [Member] | ||
Summary of plan assets investments | ||
Fair value of plan assets | 37,920 | 289,379 |
Fair value of plan assets, Percentage | 6.00% | 45.00% |
ExchangeTradedFundsMember | ||
Summary of plan assets investments | ||
Fair value of plan assets | 6,840 | 24,705 |
Fair value of plan assets, Percentage | 1.00% | 4.00% |
Limited Partnerships [Member] | ||
Summary of plan assets investments | ||
Fair value of plan assets | $3,046 | $926 |
Fair value of plan assets, Percentage | 1.00% | 0.00% |
Benefit_Plans_Details_2
Benefit Plans (Details 2) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Amounts Recognized in Balance Sheet [Abstract] | ||||
Amounts Recognized in Balance Sheet | $198,947 | $90,842 | ||
Amounts Recognized in Other Comprehensive Income (Loss) [Abstract] | ||||
Net acturial loss | 240,197 | 166,078 | 262,187 | |
Prior service cost | 14,517 | 9,855 | 25,788 | |
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeLossAfterTax | $225,680 | $156,223 | $236,399 | $185,364 |
Benefit_Plans_Details_3
Benefit Plans (Details 3) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Amounts Recognized in Other Comprehensive Income (Loss) Before Tax | |||
Pretax, Balance, Beginning of Period | $240,345 | $363,691 | $285,177 |
Net actuarial gains (losses) | -13,106 | 27,013 | |
Pretax, Balance, End of Period | 347,202 | 240,345 | 363,691 |
Net actuarial gains (losses) | -13,106 | 27,013 | |
Amounts Recognized in Other Comprehensive Income (Loss), Tax | |||
Tax (expense) Benefit, Balance, Beginning of Period | -84,122 | -127,292 | -99,813 |
Net Actuarial (loss) gain | |||
Amoritization included in net periodic benefit costs | 4,588 | -9,455 | |
Transition Obligation | |||
Amoritization included in net periodic benefit costs | 4,588 | -9,455 | |
Tax (expense) Benefit, Balance, End of Period | -121,522 | -84,122 | -127,292 |
Amounts Recognized in Other Comprehensive Income (Loss), after Tax [Abstract] | |||
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeLossAfterTax | 156,223 | 236,399 | 185,364 |
Net actuarial (loss) gain | |||
Amortization included in net periodic benefit costs | -8,518 | 17,558 | |
Prior Service Cost | |||
Amortization included in net periodic benefts costs | -14,517 | -9,855 | -25,788 |
Transition Obligation | |||
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeLossAfterTax | 225,680 | 156,223 | 236,399 |
Transition Obligation [Member] | |||
Amounts Recognized in Other Comprehensive Income (Loss) Before Tax | |||
Net actuarial gains (losses) | 0 | 0 | 2 |
Net actuarial gains (losses) | 0 | 0 | 2 |
Net Actuarial (loss) gain | |||
Amoritization included in net periodic benefit costs | 0 | 0 | 0 |
Transition Obligation | |||
Amoritization included in net periodic benefit costs | 0 | 0 | 0 |
Transition Obligation | |||
Amortization included in net periodic benefit costs | 0 | 0 | 2 |
Prior Service Cost [Member] | |||
Amounts Recognized in Other Comprehensive Income (Loss) Before Tax | |||
Amounts Arising During the Year | 8,781 | 0 | 0 |
Net actuarial gains (losses) | 1,609 | 24,514 | 6,865 |
Amounts Arising During the Year | 8,781 | 0 | 0 |
Net actuarial gains (losses) | 1,609 | 24,514 | 6,865 |
Prior Service Cost | |||
Amounts Arising During the Year | 3,073 | 0 | 0 |
Amoritization included in net periodic benefit costs | -563 | -8,580 | -2,403 |
Prior Service Cost | |||
Net prior service cost arising during the period | -5,708 | 0 | 0 |
Amortization included in net periodic benefts costs | 1,046 | 15,934 | 4,462 |
Net Actuarial (loss) gain [Member] | |||
Amounts Recognized in Other Comprehensive Income (Loss) Before Tax | |||
Amounts Arising During the Year | -133,085 | 118,666 | -105,527 |
Net actuarial gains (losses) | -19,056 | -29,194 | -33,880 |
Amounts Arising During the Year | -133,085 | 118,666 | -105,527 |
Net actuarial gains (losses) | -19,056 | -29,194 | -33,880 |
Net Actuarial (loss) gain | |||
Amounts Arising During the Year | -46,580 | 41,532 | -36,934 |
Amoritization included in net periodic benefit costs | -6,670 | -10,218 | -11,858 |
Transition Obligation | |||
Amoritization included in net periodic benefit costs | -6,670 | -10,218 | -11,858 |
Net actuarial (loss) gain | |||
Amount arising during the period | -86,505 | 77,134 | -68,593 |
Amortization included in net periodic benefit costs | ($12,386) | ($18,976) | ($22,022) |
Benefit_Plans_Details_4
Benefit Plans (Details 4) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Contribution Plan Disclosure | |||
Defined Contribution Plan, Cost Recognized | $31,110 | $18,238 | $16,926 |
Market Value - Amount of Huntington Common Stock | 135,533 | 131,476 | |
Shares of Huntington Stock | 12,883,333 | 13,624,429 | |
Dividends On Huntington Stock | $2,694 | $2,567 |
Benefit_Plans_Details_Textuals
Benefit Plans (Details Textuals) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Pension and Other Postretirement Benefit Plans, Amounts that Will be Amortized from Accumulated Other Comprehensive Income (Loss) in Next Fiscal Year [Abstract] | |||
Defined Benefit Plan, Amortization of Net Transition Asset (Obligation) | $0 | ||
Defined Benefit Plan Future Amortization Of Prior Service Cost Credit | 2,000,000 | ||
Defined Benefit Plan Future Amortization Of Gain Loss | 8,400,000 | ||
Defined Benefit Plan, Information about Plan Assets [Abstract] | |||
Fair value of plan assets, Percentage | 100.00% | 100.00% | |
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract] | |||
Match - Base pay contributed to the plan | Matched participant contributions up to first 4% | ||
BasePayContributedToPlanProfitSharing | Profit-sharing contribution equal to first 1% | ||
Pension Benefits [Member] | |||
Benefit Plans (Textuals) [Abstract] | |||
Contribution to plan | 0 | ||
Defined Benefit Plan, Accumulated Benefit Obligation | 799,600,000 | 685,000,000 | |
Defined Benefit Plan Expenses | 1,800,000 | 1,700,000 | 1,100,000 |
Estimated Net Periodic Pension Cost In Next Fiscal Year | 2,500,000 | ||
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Asset | |||
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Projected Benefit Obligation | 146,600,000 | ||
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Accumulated Benefit Obligation | 146,600,000 | ||
Defined Benefit Plan, Information about Plan Assets [Abstract] | |||
Average duration of plan assets investment in bonds, years | 12 years 5 months | ||
Estimated Life Of Benefit Obligations | 12 years 10 months | ||
Post Retirement Benefits [Member] | |||
Benefit Plans (Textuals) [Abstract] | |||
Employees retirement age for health care and life insurance benefits under unfunded defined benefit post-retirement plan | 55 | ||
DeferredCompensationArrangementWithIndividualRequisiteServicePeriod | 10 years 0 months | ||
Life insurance coverage, maximum | 50,000 | ||
PlanAmendementMeasurementReductionInLiability | 5,200,000 | ||
Contributions Received For Retiree Medical Program | 2,600,000 | ||
Defined Benefit Plans Estimated Future Employer Contributions In Next Fiscal Year | 1,400,000 | ||
Defined Benefit Plan, Assumed Health Care Cost Trend Rates [Abstract] | |||
Defined Benefit Plan, Health Care Cost Trend Rate Assumed for Next Fiscal Year | 7.30% | ||
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 4.50% | ||
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate | 2028 | ||
Defined Benefit Plan, Description of Direction and Pattern of Change for Assumed Health Care Cost Trend Rate | These rates are assumed to decrease gradually | ||
Effect of One-Percentage Point Change in Assumed Health Care Cost Trend Rates [Abstract] | |||
Effect of One Percentage Point Increase on Service and Interest Cost Components | 3,500 | ||
Effect of One Percentage Point Decrease on Service and Interest Cost Components | -2,900 | ||
Effect of One Percentage Point Increase on Accumulated Postretirement Benefit Obligation | 7,600 | ||
Effect of One Percentage Point Decrease on Accumulated Postretirement Benefit Obligation | -7,100 | ||
Supplemental Executive Retirement Plan [Member] | |||
Benefit Plans (Textuals) [Abstract] | |||
Defined Benefit Plan Expenses | 1,000,000 | 4,200,000 | 2,500,000 |
Pension and Other Postretirement Defined Benefit Plans, Liabilities | $35,000,000 | $29,200,000 | |
Equity Securities [Member] | Pension Benefits [Member] | |||
Defined Benefit Plan, Information about Plan Assets [Abstract] | |||
Defined Benefit Plan, Actual Plan Asset Allocations | 49.00% | ||
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 20.00% | ||
Defined Benefit Plan, Target Plan Assets Allocation Range Maximum | 50.00% | ||
Covered Bonds [Member] | Pension Benefits [Member] | |||
Defined Benefit Plan, Information about Plan Assets [Abstract] | |||
Defined Benefit Plan, Actual Plan Asset Allocations | 49.00% | ||
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | 50.00% | ||
Defined Benefit Plan, Target Plan Assets Allocation Range Maximum | 80.00% | ||
Cash and Cash Equivalents [Member] | Pension Benefits [Member] | |||
Defined Benefit Plan, Information about Plan Assets [Abstract] | |||
Defined Benefit Plan, Actual Plan Asset Allocations | 2.00% |
Fair_Values_of_Assets_and_Liab2
Fair Values of Assets and Liabilities (Recurring basis) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Assets measured at fair value on a recurring basis | |||
Trading account securities | $42,191 | $35,573 | |
Available-for-sale and other securities | 9,384,670 | 7,308,753 | |
MSR's | 22,786 | 34,236 | 35,202 |
MortgagesHeldForInvestmentFairValueDisclosure | 40,027 | ||
Level 3 [Member] | U.S. Treasury [Member] | |||
Assets measured at fair value on a recurring basis | |||
Trading account securities | 0 | ||
Recurring Basis [Member] | |||
Assets measured at fair value on a recurring basis | |||
Mortgage loans held for sale | 354,888 | 278,928 | |
Trading account securities | 42,191 | 35,573 | |
Available-for-sale and other securities | 9,053,111 | 6,987,762 | |
Automobile loans | 10,590 | 52,286 | |
MSR's | 22,786 | 34,236 | |
Derivative assets | 352,642 | 200,029 | |
Liabilities measured at fair value on a recurring basis | |||
Derivatives | 284,255 | 129,274 | |
Short-term borrowings | -2,295 | -1,089 | |
Recurring Basis [Member] | U.S. Treasury [Member] | |||
Assets measured at fair value on a recurring basis | |||
Trading account securities | 0 | 0 | |
Available-for-sale and other securities | 5,452 | 51,604 | |
Recurring Basis [Member] | Federal agencies - mortgage backed securities [Member] | |||
Assets measured at fair value on a recurring basis | |||
Trading account securities | 0 | 0 | |
Available-for-sale and other securities | 5,322,701 | 3,566,221 | |
Recurring Basis [Member] | TLGP securities [Member] | |||
Assets measured at fair value on a recurring basis | |||
Available-for-sale and other securities | 0 | ||
Recurring Basis [Member] | Federal agencies: Other agencies [Member] | |||
Assets measured at fair value on a recurring basis | |||
Trading account securities | 2,857 | 834 | |
Available-for-sale and other securities | 351,543 | 319,888 | |
Recurring Basis [Member] | Municipal securities [Member] | |||
Assets measured at fair value on a recurring basis | |||
Trading account securities | 5,098 | 2,180 | |
Available-for-sale and other securities | 1,868,569 | 1,145,992 | |
Recurring Basis [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | |||
Assets measured at fair value on a recurring basis | |||
Available-for-sale and other securities | 41,926 | 49,104 | |
Recurring Basis [Member] | Asset-backed Securities [Member] | |||
Assets measured at fair value on a recurring basis | |||
Available-for-sale and other securities | 955,998 | 1,091,040 | |
Recurring Basis [Member] | Covered Bonds [Member] | |||
Assets measured at fair value on a recurring basis | |||
Available-for-sale and other securities | 285,874 | ||
Recurring Basis [Member] | Corporate debt [Member] | |||
Assets measured at fair value on a recurring basis | |||
Available-for-sale and other securities | 486,176 | 457,240 | |
Recurring Basis [Member] | Other securities [Member] | |||
Assets measured at fair value on a recurring basis | |||
Trading account securities | 34,236 | 32,559 | |
Available-for-sale and other securities | 20,746 | 20,799 | |
Recurring Basis [Member] | Level 1 [Member] | |||
Assets measured at fair value on a recurring basis | |||
Mortgage loans held for sale | 0 | 0 | |
Trading account securities | 33,121 | 32,081 | |
Available-for-sale and other securities | 22,882 | 68,575 | |
Automobile loans | 0 | 0 | |
MSR's | 0 | 0 | |
Derivative assets | 0 | 36,774 | |
Liabilities measured at fair value on a recurring basis | |||
Derivatives | 0 | 22,787 | |
Recurring Basis [Member] | Level 1 [Member] | U.S. Treasury [Member] | |||
Assets measured at fair value on a recurring basis | |||
Trading account securities | 0 | 0 | |
Available-for-sale and other securities | 5,452 | 51,604 | |
Recurring Basis [Member] | Level 1 [Member] | Federal agencies - mortgage backed securities [Member] | |||
Assets measured at fair value on a recurring basis | |||
Trading account securities | 0 | 0 | |
Available-for-sale and other securities | 0 | 0 | |
Recurring Basis [Member] | Level 1 [Member] | TLGP securities [Member] | |||
Assets measured at fair value on a recurring basis | |||
Available-for-sale and other securities | 0 | ||
Recurring Basis [Member] | Level 1 [Member] | Federal agencies: Other agencies [Member] | |||
Assets measured at fair value on a recurring basis | |||
Trading account securities | 0 | 0 | |
Available-for-sale and other securities | 0 | 0 | |
Recurring Basis [Member] | Level 1 [Member] | Municipal securities [Member] | |||
Assets measured at fair value on a recurring basis | |||
Trading account securities | 0 | 0 | |
Available-for-sale and other securities | 0 | 0 | |
Recurring Basis [Member] | Level 1 [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | |||
Assets measured at fair value on a recurring basis | |||
Available-for-sale and other securities | 0 | 0 | |
Recurring Basis [Member] | Level 1 [Member] | Asset-backed Securities [Member] | |||
Assets measured at fair value on a recurring basis | |||
Available-for-sale and other securities | 0 | 0 | |
Recurring Basis [Member] | Level 1 [Member] | Covered Bonds [Member] | |||
Assets measured at fair value on a recurring basis | |||
Available-for-sale and other securities | 0 | ||
Recurring Basis [Member] | Level 1 [Member] | Corporate debt [Member] | |||
Assets measured at fair value on a recurring basis | |||
Available-for-sale and other securities | 0 | 0 | |
Recurring Basis [Member] | Level 1 [Member] | Other securities [Member] | |||
Assets measured at fair value on a recurring basis | |||
Trading account securities | 33,121 | 32,081 | |
Available-for-sale and other securities | 17,430 | 16,971 | |
Recurring Basis [Member] | Level 2 [Member] | |||
Assets measured at fair value on a recurring basis | |||
Mortgage loans held for sale | 354,888 | 278,928 | |
Trading account securities | 9,070 | 3,492 | |
Available-for-sale and other securities | 7,499,434 | 6,125,091 | |
Automobile loans | 0 | 0 | |
MSR's | 0 | 0 | |
Derivative assets | 449,775 | 219,045 | |
MortgagesHeldForInvestmentFairValueDisclosure | 40,027 | ||
Liabilities measured at fair value on a recurring basis | |||
Derivatives | 335,524 | 124,123 | |
Short-term borrowings | -2,295 | -1,089 | |
Recurring Basis [Member] | Level 2 [Member] | U.S. Treasury [Member] | |||
Assets measured at fair value on a recurring basis | |||
Trading account securities | 0 | 0 | |
Available-for-sale and other securities | 0 | 0 | |
Recurring Basis [Member] | Level 2 [Member] | Federal agencies - mortgage backed securities [Member] | |||
Assets measured at fair value on a recurring basis | |||
Trading account securities | 0 | 0 | |
Available-for-sale and other securities | 5,322,701 | 3,566,221 | |
Recurring Basis [Member] | Level 2 [Member] | TLGP securities [Member] | |||
Assets measured at fair value on a recurring basis | |||
Available-for-sale and other securities | 0 | ||
Recurring Basis [Member] | Level 2 [Member] | Federal agencies: Other agencies [Member] | |||
Assets measured at fair value on a recurring basis | |||
Trading account securities | 2,857 | 834 | |
Available-for-sale and other securities | 351,543 | 319,888 | |
Recurring Basis [Member] | Level 2 [Member] | Municipal securities [Member] | |||
Assets measured at fair value on a recurring basis | |||
Trading account securities | 5,098 | 2,180 | |
Available-for-sale and other securities | 450,976 | 491,455 | |
Recurring Basis [Member] | Level 2 [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | |||
Assets measured at fair value on a recurring basis | |||
Available-for-sale and other securities | 11,462 | 16,964 | |
Recurring Basis [Member] | Level 2 [Member] | Asset-backed Securities [Member] | |||
Assets measured at fair value on a recurring basis | |||
Available-for-sale and other securities | 873,260 | 983,621 | |
Recurring Basis [Member] | Level 2 [Member] | Covered Bonds [Member] | |||
Assets measured at fair value on a recurring basis | |||
Available-for-sale and other securities | 285,874 | ||
Recurring Basis [Member] | Level 2 [Member] | Corporate debt [Member] | |||
Assets measured at fair value on a recurring basis | |||
Available-for-sale and other securities | 486,176 | 457,240 | |
Recurring Basis [Member] | Level 2 [Member] | Other securities [Member] | |||
Assets measured at fair value on a recurring basis | |||
Trading account securities | 1,115 | 478 | |
Available-for-sale and other securities | 3,316 | 3,828 | |
Recurring Basis [Member] | Level 3 [Member] | |||
Assets measured at fair value on a recurring basis | |||
Mortgage loans held for sale | 0 | 0 | |
Trading account securities | 0 | 0 | |
Available-for-sale and other securities | 1,530,795 | 794,096 | |
Automobile loans | 10,590 | 52,286 | |
MSR's | 22,786 | 34,236 | |
Derivative assets | 4,064 | 3,066 | |
Liabilities measured at fair value on a recurring basis | |||
Derivatives | 704 | 676 | |
Recurring Basis [Member] | Level 3 [Member] | U.S. Treasury [Member] | |||
Assets measured at fair value on a recurring basis | |||
Trading account securities | 0 | ||
Available-for-sale and other securities | 0 | 0 | |
Recurring Basis [Member] | Level 3 [Member] | Federal agencies - mortgage backed securities [Member] | |||
Assets measured at fair value on a recurring basis | |||
Trading account securities | 0 | 0 | |
Available-for-sale and other securities | 0 | 0 | |
Recurring Basis [Member] | Level 3 [Member] | TLGP securities [Member] | |||
Assets measured at fair value on a recurring basis | |||
Available-for-sale and other securities | 0 | ||
Recurring Basis [Member] | Level 3 [Member] | Federal agencies: Other agencies [Member] | |||
Assets measured at fair value on a recurring basis | |||
Trading account securities | 0 | 0 | |
Available-for-sale and other securities | 0 | 0 | |
Recurring Basis [Member] | Level 3 [Member] | Municipal securities [Member] | |||
Assets measured at fair value on a recurring basis | |||
Trading account securities | 0 | 0 | |
Available-for-sale and other securities | 1,417,593 | 654,537 | |
Recurring Basis [Member] | Level 3 [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | |||
Assets measured at fair value on a recurring basis | |||
Available-for-sale and other securities | 30,464 | 32,140 | |
Recurring Basis [Member] | Level 3 [Member] | Asset-backed Securities [Member] | |||
Assets measured at fair value on a recurring basis | |||
Available-for-sale and other securities | 82,738 | 107,419 | |
Recurring Basis [Member] | Level 3 [Member] | Covered Bonds [Member] | |||
Assets measured at fair value on a recurring basis | |||
Available-for-sale and other securities | 0 | ||
Recurring Basis [Member] | Level 3 [Member] | Corporate debt [Member] | |||
Assets measured at fair value on a recurring basis | |||
Available-for-sale and other securities | 0 | 0 | |
Recurring Basis [Member] | Level 3 [Member] | Other securities [Member] | |||
Assets measured at fair value on a recurring basis | |||
Trading account securities | 0 | 0 | |
Available-for-sale and other securities | $0 | $0 |
Fair_Values_of_Assets_and_Liab3
Fair Values of Assets and Liabilities (Level 3 rollforward) (Details 1) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2010 | |
MSRs [Member] | ||||
Rollforward of financial instruments measured on a recurring basis and classified as Level 3 | ||||
Balance, beginning of period | $34,236,000 | $35,202,000 | $65,001,000 | |
Total gains/losses: | ||||
Included in earnings | 11,450,000 | 966,000 | 29,799,000 | |
Included in OCI | 0 | 0 | 0 | |
Purchases | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | |
Repayments | 0 | 0 | 0 | |
Issuances | 0 | 0 | 0 | |
Settlements | 0 | 0 | 0 | |
Balance, end of period | 22,786,000 | 34,236,000 | 65,001,000 | |
The amount of total gains or losses for the period included in earnings (or OCI) attributable to the change in unrealized gains or losses relating to assets still held at reporting date | -11,450,000 | -966,000 | -29,799,000 | |
Derivative Instruments [Member] | ||||
Rollforward of financial instruments measured on a recurring basis and classified as Level 3 | ||||
Balance, beginning of period | 2,390,000 | 12,702,000 | -169,000 | |
Total gains/losses: | ||||
Included in earnings | -3,047,000 | 5,944,000 | -10,617,000 | |
Included in OCI | 0 | 0 | 0 | |
Purchases | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | |
Repayments | 0 | 0 | 0 | |
Issuances | 0 | 0 | 0 | |
Settlements | -2,077,000 | -4,368,000 | 2,254,000 | |
Balance, end of period | 3,360,000 | 2,390,000 | -169,000 | |
The amount of total gains or losses for the period included in earnings (or OCI) attributable to the change in unrealized gains or losses relating to assets still held at reporting date | 3,047,000 | -5,944,000 | 5,818,000 | |
Municipal securities [Member] | ||||
Rollforward of financial instruments measured on a recurring basis and classified as Level 3 | ||||
Balance, beginning of period | 654,537,000 | 61,228,000 | 95,092,000 | |
Total gains/losses: | ||||
Included in earnings | 0 | -2,129,000 | 0 | |
Included in OCI | -14,776,000 | -9,075,000 | 1,637,000 | |
Purchases | 1,038,348,000 | 600,435,000 | 0 | |
Sales | 0 | 0 | -3,040,000 | |
Repayments | 0 | 0 | 0 | |
Issuances | 0 | 0 | 0 | |
Settlements | -290,068,000 | -18,330,000 | -29,187,000 | |
Balance, end of period | 1,417,593,000 | 654,537,000 | 95,092,000 | |
The amount of total gains or losses for the period included in earnings (or OCI) attributable to the change in unrealized gains or losses relating to assets still held at reporting date | 14,776,000 | 9,075,000 | -1,637,000 | |
Private label CMO [Member] | ||||
Rollforward of financial instruments measured on a recurring basis and classified as Level 3 | ||||
Balance, beginning of period | 32,140,000 | 48,775,000 | 72,364,000 | |
Total gains/losses: | ||||
Included in earnings | -36,000 | 180,000 | 796,000 | |
Included in OCI | -452,000 | -1,703,000 | -8,245,000 | |
Purchases | 0 | 0 | 0 | |
Sales | 0 | -10,254,000 | -15,183,000 | |
Repayments | 0 | 0 | 0 | |
Issuances | 0 | 0 | 0 | |
Settlements | -2,164,000 | -7,904,000 | -15,855,000 | |
Balance, end of period | 30,464,000 | 32,140,000 | 72,364,000 | |
The amount of total gains or losses for the period included in earnings (or OCI) attributable to the change in unrealized gains or losses relating to assets still held at reporting date | 452,000 | 1,703,000 | 8,245,000 | |
Asset-backed Securities [Member] | ||||
Rollforward of financial instruments measured on a recurring basis and classified as Level 3 | ||||
Balance, beginning of period | 107,419,000 | 110,037,000 | 121,698,000 | |
Total gains/losses: | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | 184,100,000 | |||
Included in earnings | -226,000 | 2,244,000 | 59,000 | |
Included in OCI | -21,839,000 | -35,139,000 | -23,138,000 | |
Purchases | 0 | 0 | 0 | |
Sales | -22,870,000 | -16,711,000 | -20,852,000 | |
Repayments | 0 | 0 | 0 | |
Issuances | 0 | 0 | 0 | |
Settlements | -23,876,000 | -18,802,000 | -13,888,000 | |
Balance, end of period | 82,738,000 | 107,419,000 | 121,698,000 | |
The amount of total gains or losses for the period included in earnings (or OCI) attributable to the change in unrealized gains or losses relating to assets still held at reporting date | 21,137,000 | 35,139,000 | 23,138,000 | |
Automobile Loan [Member] | ||||
Rollforward of financial instruments measured on a recurring basis and classified as Level 3 | ||||
Balance, beginning of period | 52,286,000 | 142,762,000 | 296,250,000 | |
Total gains/losses: | ||||
Included in earnings | 918,000 | 358,000 | 1,230,000 | |
Included in OCI | 0 | 0 | 0 | |
Purchases | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | |
Repayments | -40,778,000 | -90,118,000 | -152,258,000 | |
Issuances | 0 | 0 | 0 | |
Settlements | 0 | 0 | 0 | |
Balance, end of period | 10,590,000 | 52,286,000 | 296,250,000 | |
The amount of total gains or losses for the period included in earnings (or OCI) attributable to the change in unrealized gains or losses relating to assets still held at reporting date | -1,624,000 | -358,000 | -1,230,000 | |
Equity investments [Member] | ||||
Rollforward of financial instruments measured on a recurring basis and classified as Level 3 | ||||
Balance, beginning of period | 0 | 0 | 0 | |
Total gains/losses: | ||||
Included in earnings | 0 | 0 | 0 | |
Included in OCI | 0 | 0 | 0 | |
Purchases | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | |
Repayments | 0 | 0 | 0 | |
Issuances | 0 | 0 | 0 | |
Settlements | 0 | 0 | 0 | |
Balance, end of period | 0 | 0 | 0 | |
The amount of total gains or losses for the period included in earnings (or OCI) attributable to the change in unrealized gains or losses relating to assets still held at reporting date | $0 | $0 | $0 |
Fair_Values_of_Assets_and_Liab4
Fair Values of Assets and Liabilities (Level 3 classification of gains/losses) (Details 2) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
MSRs [Member] | |||
Classification of gains and losses in earnings: | |||
Mortgage banking income (loss) | ($11,450) | ($966) | ($29,799) |
Securities gains (losses) | 0 | 0 | 0 |
Interest and fee income | 0 | 0 | 0 |
Noninterest income | 0 | 0 | 0 |
Total | -11,450 | -966 | -29,799 |
Derivative Instrument Asset, Net [Member] | |||
Classification of gains and losses in earnings: | |||
Mortgage banking income (loss) | 3,047 | -5,944 | 10,617 |
Securities gains (losses) | 0 | 0 | 0 |
Interest and fee income | 0 | 0 | 0 |
Noninterest income | 0 | 0 | 0 |
Total | 3,047 | -5,944 | 10,617 |
Municipal securities [Member] | |||
Classification of gains and losses in earnings: | |||
Mortgage banking income (loss) | 0 | 0 | 0 |
Securities gains (losses) | 0 | 0 | 0 |
Interest and fee income | 0 | 2,129 | 0 |
Noninterest income | 0 | 0 | 0 |
Total | 0 | 2,129 | 0 |
Private label CMO [Member] | |||
Classification of gains and losses in earnings: | |||
Mortgage banking income (loss) | 0 | 0 | 0 |
Securities gains (losses) | 0 | -336 | -1,614 |
Interest and fee income | 36 | 156 | 818 |
Noninterest income | 0 | 0 | 0 |
Total | 36 | -180 | -796 |
Asset-backed Securities [Member] | |||
Classification of gains and losses in earnings: | |||
Mortgage banking income (loss) | 0 | 0 | 0 |
Securities gains (losses) | 170 | -1,466 | 0 |
Interest and fee income | 56 | -778 | -59 |
Noninterest income | 0 | 0 | 0 |
Total | 226 | -2,244 | -59 |
Automobile Loan [Member] | |||
Classification of gains and losses in earnings: | |||
Mortgage banking income (loss) | 0 | 0 | 0 |
Securities gains (losses) | 0 | 0 | 0 |
Interest and fee income | -1,032 | -3,569 | -6,950 |
Noninterest income | 114 | 3,211 | 5,720 |
Total | -918 | -358 | -1,230 |
Equity investments [Member] | |||
Classification of gains and losses in earnings: | |||
Mortgage banking income (loss) | 0 | 0 | 0 |
Securities gains (losses) | 0 | 0 | 0 |
Interest and fee income | 0 | 0 | 0 |
Noninterest income | 0 | 0 | 0 |
Total | $0 | $0 | $0 |
Fair_Values_of_Assets_and_Liab5
Fair Values of Assets and Liabilities (Fair value option) (Details 3) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Mortgages Held For Sale | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Mortgages Held-for-sale, Fair Value Disclosure | $354,888 | $278,928 |
Mortgages Held For Sale, Unpaid Principal | 340,070 | 276,945 |
Fair Value, Option, Aggregate Differences, Loans and Long-term Receivables | 14,818 | 1,983 |
Automobile Loans | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans Receivable, Fair Value Disclosure | 10,590 | 52,286 |
Loans Receivable, Unpaid Principal | 10,022 | 50,800 |
Fair Value, Option, Aggregate Differences, Loans and Long-term Receivables | 568 | 1,486 |
Securitization Trust Notes Payable | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Long-term Debt, Fair Value | 0 | 0 |
Long-term Debt, Unpaid Principal | 0 | 0 |
Fair Value, Option, Aggregate Differences, Long-term Debt Instruments | $0 | $0 |
Fair_Values_of_Assets_and_Liab6
Fair Values of Assets and Liabilities (Fair value option-changes in fair value) (Details 4) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Mortgages Held For Sale | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | ($1,978) | ($12,711) | $4,284 |
Automobile Loans | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | -918 | -360 | -1,231 |
Fair Value, Option, Credit Risk, Gains (Losses) on Assets | 911 | 2,207 | 2,749 |
Securitization Trust Notes Payable | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | $0 | $0 | ($2,023) |
Fair_Values_of_Assets_and_Liab7
Fair Values of Assets and Liabilities (Non-recurring/fair values of financial instruments) (Details 5) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | ||
Financial Assets: | ||||
Trading account securities | $42,191 | $35,573 | ||
Loans held for sale | 416,327 | [1] | 326,212 | [1] |
Available-for-sale and other securities | 9,384,670 | 7,308,753 | ||
Held-to-maturity securities, Total | 3,379,905 | 3,836,667 | ||
Net loans and direct financing leases | 47,050,530 | 42,472,630 | ||
Financial Liabilities: | ||||
Deposits | 51,732,151 | 47,506,718 | ||
Short-term borrowings | 2,397,101 | 2,352,143 | ||
Long-term borrowings | 4,335,962 | 2,458,272 | ||
Carrying Amount [Member] | ||||
Financial Assets: | ||||
Cash and short-term assets | 1,285,124 | 1,058,175 | ||
Trading account securities | 42,191 | 35,573 | ||
Loans held for sale | 416,327 | 326,212 | ||
Available-for-sale and other securities | 9,384,670 | 7,308,753 | ||
Held-to-maturity securities, Total | 3,379,905 | 3,836,667 | ||
Net loans and direct financing leases | 47,050,530 | 42,472,630 | ||
Derivatives | 352,642 | 200,029 | ||
Financial Liabilities: | ||||
Deposits | 51,732,151 | 47,506,718 | ||
Short-term borrowings | 2,397,101 | 2,352,143 | ||
Long-term borrowings | 4,335,962 | 2,458,272 | ||
Derivatives | 284,255 | 129,274 | ||
Fair Value [Member] | ||||
Financial Assets: | ||||
Cash and short-term assets | 1,285,124 | 1,058,175 | ||
Trading account securities | 42,191 | 35,573 | ||
Loans held for sale | 416,327 | 326,212 | ||
Available-for-sale and other securities | 9,384,670 | 7,308,753 | ||
Held-to-maturity securities, Total | 3,382,715 | 3,760,898 | ||
Net loans and direct financing leases | 45,110,406 | 40,976,014 | ||
Derivatives | 352,642 | 200,029 | ||
Financial Liabilities: | ||||
Deposits | 52,454,804 | 48,132,550 | ||
Short-term borrowings | 2,397,101 | 2,343,552 | ||
Long-term borrowings | 4,286,304 | 2,424,564 | ||
Derivatives | 284,255 | 129,274 | ||
Level 1 [Member] | Fair Value [Member] | ||||
Financial Assets: | ||||
Loans held for sale | 0 | 0 | ||
Held-to-maturity securities, Total | 0 | 0 | ||
Net loans and direct financing leases | 0 | 0 | ||
Financial Liabilities: | ||||
Deposits | 0 | 0 | ||
Short-term borrowings | 0 | 0 | ||
Long-term borrowings | 0 | 0 | ||
Level 2 [Member] | Carrying Amount [Member] | ||||
Financial Liabilities: | ||||
Deposits | 48,183,798 | |||
Level 2 [Member] | Fair Value [Member] | ||||
Financial Assets: | ||||
Loans held for sale | 0 | 0 | ||
Held-to-maturity securities, Total | 3,382,715 | 3,760,898 | ||
Net loans and direct financing leases | 0 | 0 | ||
Financial Liabilities: | ||||
Deposits | 42,279,542 | |||
Short-term borrowings | 0 | 0 | ||
Long-term borrowings | 0 | 0 | ||
Level 3 [Member] | Fair Value [Member] | ||||
Financial Assets: | ||||
Loans held for sale | 0 | 0 | ||
Held-to-maturity securities, Total | 0 | 0 | ||
Net loans and direct financing leases | 45,110,406 | 40,976,014 | ||
Financial Liabilities: | ||||
Deposits | 4,271,006 | 5,853,008 | ||
Short-term borrowings | 2,397,101 | 2,343,552 | ||
Long-term borrowings | 4,286,304 | 2,424,564 | ||
Total Estimated Fair Value [Member] | Fair Value [Member] | ||||
Financial Assets: | ||||
Loans held for sale | 0 | 0 | ||
Held-to-maturity securities, Total | 3,382,715 | 3,760,898 | ||
Net loans and direct financing leases | 45,110,406 | 40,976,014 | ||
Financial Liabilities: | ||||
Deposits | 52,454,804 | 48,132,550 | ||
Short-term borrowings | 2,397,101 | 2,343,552 | ||
Long-term borrowings | 4,286,304 | 2,424,564 | ||
Nonrecurring Basis [Member] | ||||
Assets measured at fair value on a nonrecurring basis | ||||
Fair value, Impaired loans | 52,911 | |||
Gain/(Losses), Impaired loans | -53,660 | |||
Fair value, Accrued income and other assets | 35,039 | |||
Gain/(Losses), Accrued income and other assets | -4,021 | |||
Nonrecurring Basis [Member] | Level 1 [Member] | ||||
Assets measured at fair value on a nonrecurring basis | ||||
Fair value, Impaired loans | 0 | |||
Fair value, Accrued income and other assets | 0 | |||
Nonrecurring Basis [Member] | Level 2 [Member] | ||||
Assets measured at fair value on a nonrecurring basis | ||||
Fair value, Impaired loans | 0 | |||
Fair value, Accrued income and other assets | 0 | |||
Nonrecurring Basis [Member] | Level 3 [Member] | ||||
Assets measured at fair value on a nonrecurring basis | ||||
Fair value, Impaired loans | 52,911 | |||
Fair value, Accrued income and other assets | $35,039 | |||
[1] | Amounts represent loans for which Huntington has elected the fair value option. See Note 17. |
Fair_Values_of_Assets_and_Liab8
Fair Values of Assets and Liabilities (Significant unobservable Level 3 inputs) (Details 6) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2014 |
Assets measured at fair value on a recurring basis | |
MSR's | 22,786 |
Available-for-sale and other securities | 9,384,670 |
MSRs [Member] | Maximum [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | |
Quantitative information about level 3 fair value measurements | |
Constant prepayment rate (CPR) | 26.00% |
Spread over forward interest rate swap rates | 900 |
MSRs [Member] | Minimum [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | |
Quantitative information about level 3 fair value measurements | |
Constant prepayment rate (CPR) | 7.00% |
Spread over forward interest rate swap rates | 228 |
MSRs [Member] | Weighted Average [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | |
Quantitative information about level 3 fair value measurements | |
Constant prepayment rate (CPR) | 16.00% |
Spread over forward interest rate swap rates | 546 |
Derivative Instruments [Member] | Maximum [Member] | Market Approach Valuation Technique [Member] | Level 3 [Member] | |
Quantitative information about level 3 fair value measurements | |
Net market price | 17.50% |
Estimated pull thru % | 91.00% |
Derivative Instruments [Member] | Minimum [Member] | Market Approach Valuation Technique [Member] | Level 3 [Member] | |
Quantitative information about level 3 fair value measurements | |
Net market price | -5.10% |
Estimated pull thru % | 38.00% |
Derivative Instruments [Member] | Weighted Average [Member] | Market Approach Valuation Technique [Member] | Level 3 [Member] | |
Quantitative information about level 3 fair value measurements | |
Net market price | 1.70% |
Estimated pull thru % | 75.00% |
Municipal securities [Member] | Maximum [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | |
Quantitative information about level 3 fair value measurements | |
Discount rate | 4.90% |
Municipal securities [Member] | Minimum [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | |
Quantitative information about level 3 fair value measurements | |
Discount rate | 0.50% |
Municipal securities [Member] | Weighted Average [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | |
Quantitative information about level 3 fair value measurements | |
Discount rate | 2.50% |
Private label CMO [Member] | Maximum [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | |
Quantitative information about level 3 fair value measurements | |
Constant prepayment rate (CPR) | 32.60% |
Probability of default | 4.00% |
Loss severity | 64.00% |
Discount rate | 7.20% |
Private label CMO [Member] | Minimum [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | |
Quantitative information about level 3 fair value measurements | |
Constant prepayment rate (CPR) | 13.60% |
Probability of default | 0.10% |
Loss severity | 0.00% |
Discount rate | 2.70% |
Private label CMO [Member] | Weighted Average [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | |
Quantitative information about level 3 fair value measurements | |
Constant prepayment rate (CPR) | 20.70% |
Probability of default | 0.70% |
Loss severity | 33.90% |
Discount rate | 6.00% |
Asset-backed Securities [Member] | Maximum [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | |
Quantitative information about level 3 fair value measurements | |
Discount rate | 13.30% |
Cumulative prepayment rate | 100.00% |
Cumulative default | 100.00% |
Loss given default | 100.00% |
Cure given deferral | 75.00% |
Asset-backed Securities [Member] | Minimum [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | |
Quantitative information about level 3 fair value measurements | |
Discount rate | 4.30% |
Cumulative prepayment rate | 0.00% |
Cumulative default | 1.90% |
Loss given default | 20.00% |
Cure given deferral | 0.00% |
Asset-backed Securities [Member] | Weighted Average [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | |
Quantitative information about level 3 fair value measurements | |
Discount rate | 7.30% |
Cumulative prepayment rate | 10.10% |
Cumulative default | 15.90% |
Loss given default | 94.40% |
Cure given deferral | 32.60% |
Automobile Loan [Member] | Maximum [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | |
Quantitative information about level 3 fair value measurements | |
Constant prepayment rate (CPR) | 154.20% |
Discount rate | 5.00% |
Automobile Loan [Member] | Minimum [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | |
Quantitative information about level 3 fair value measurements | |
Constant prepayment rate (CPR) | 154.20% |
Discount rate | 2.00% |
Automobile Loan [Member] | Weighted Average [Member] | Cost Approach Valuation Technique [Member] | Level 3 [Member] | |
Quantitative information about level 3 fair value measurements | |
Constant prepayment rate (CPR) | 154.20% |
Discount rate | 2.30% |
Fair_Values_of_Assets_and_Liab9
Fair Values of Assets and Liabilities (Details Textuals) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2012 | Dec. 31, 2013 |
Fair Values of Assets and Liabilities (Textuals) [Abstract] | |||
Federal Agencies: mortgage-backed securities transferred to held-to-maturity securities portfolio | $292.20 | ||
Asset-backed Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Transfer out of Level 3 Assets | 184.1 | ||
Level 3 [Member] | Municipal securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Transfer in of Level 3 Assets | 323.6 | ||
Level 3 [Member] | Automobile Loan [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Transfer in of Level 3 Assets | $791.40 |
Derivative_Financial_Instrumen2
Derivative Financial Instruments (Asset and liability management) (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Notional Amount Of Derivatives [Abstract] | |
Derivative, Notional Amount | $12,129,100 |
Cash flow hedging [Member] | |
Notional Amount Of Derivatives [Abstract] | |
Derivative, Notional Amount | 9,300,000 |
Fair Value Hedging [Member] | |
Notional Amount Of Derivatives [Abstract] | |
Derivative, Notional Amount | 2,829,100 |
Loan [Member] | |
Notional Amount Of Derivatives [Abstract] | |
Derivative, Notional Amount | 9,300,000 |
Loan [Member] | Cash flow hedging [Member] | |
Notional Amount Of Derivatives [Abstract] | |
Derivative, Notional Amount | 9,300,000 |
Loan [Member] | Fair Value Hedging [Member] | |
Notional Amount Of Derivatives [Abstract] | |
Derivative, Notional Amount | 0 |
Investment securities [Member] | |
Notional Amount Of Derivatives [Abstract] | |
Derivative, Notional Amount | 0 |
Investment securities [Member] | Cash flow hedging [Member] | |
Notional Amount Of Derivatives [Abstract] | |
Derivative, Notional Amount | 0 |
Investment securities [Member] | Fair Value Hedging [Member] | |
Notional Amount Of Derivatives [Abstract] | |
Derivative, Notional Amount | 0 |
Deposits [Member] | |
Notional Amount Of Derivatives [Abstract] | |
Derivative, Notional Amount | 69,100 |
Deposits [Member] | Cash flow hedging [Member] | |
Notional Amount Of Derivatives [Abstract] | |
Derivative, Notional Amount | 0 |
Deposits [Member] | Fair Value Hedging [Member] | |
Notional Amount Of Derivatives [Abstract] | |
Derivative, Notional Amount | 69,100 |
Subordinated notes | |
Notional Amount Of Derivatives [Abstract] | |
Derivative, Notional Amount | 475,000 |
Subordinated notes | Cash flow hedging [Member] | |
Notional Amount Of Derivatives [Abstract] | |
Derivative, Notional Amount | 0 |
Subordinated notes | Fair Value Hedging [Member] | |
Notional Amount Of Derivatives [Abstract] | |
Derivative, Notional Amount | 475,000 |
Other long-term debt | |
Notional Amount Of Derivatives [Abstract] | |
Derivative, Notional Amount | 2,285,000 |
Other long-term debt | Cash flow hedging [Member] | |
Notional Amount Of Derivatives [Abstract] | |
Derivative, Notional Amount | 0 |
Other long-term debt | Fair Value Hedging [Member] | |
Notional Amount Of Derivatives [Abstract] | |
Derivative, Notional Amount | $2,285,000 |
Derivative_Financial_Instrumen3
Derivative Financial Instruments (Asset and liability management) (Details Add Info) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | Y |
Additional information about the interest rate swaps used in companies Asset and Liability Management | |
Notional Amount Of Interest Rate Derivatives | $12,129,100 |
Average Maturity (years) | 2.2 |
Fair Value | 40,466 |
Weighted-Average Rate Receive | 1.02% |
Weighted-Average Rate Pay | 0.25% |
Asset conversion swaps - Receive Fixed - Generic [Member] | |
Additional information about the interest rate swaps used in companies Asset and Liability Management | |
Notional Amount Of Interest Rate Derivatives | 9,300,000 |
Average Maturity (years) | 2 |
Fair Value | -17,078 |
Weighted-Average Rate Receive | 0.80% |
Weighted-Average Rate Pay | 0.24% |
Asset Conversion Swaps Pay Fixed Generic [Member] | |
Additional information about the interest rate swaps used in companies Asset and Liability Management | |
Notional Amount Of Interest Rate Derivatives | 0 |
Average Maturity (years) | 0 |
Fair Value | 0 |
Weighted-Average Rate Receive | 0.00% |
Weighted-Average Rate Pay | 0.00% |
Liability conversion swaps - Receive Fixed - Generic [Member] | |
Additional information about the interest rate swaps used in companies Asset and Liability Management | |
Notional Amount Of Interest Rate Derivatives | 2,829,100 |
Average Maturity (years) | 3.1 |
Fair Value | 57,544 |
Weighted-Average Rate Receive | 1.73% |
Weighted-Average Rate Pay | 0.25% |
Liability Conversion Swaps - Receive Fixed - Callable | |
Additional information about the interest rate swaps used in companies Asset and Liability Management | |
Average Maturity (years) | 0 |
Fair Value | $0 |
Weighted-Average Rate Receive | 0.00% |
Weighted-Average Rate Pay | 0.00% |
Derivative_Financial_Instrumen4
Derivative Financial Instruments (Hedging instruments) (Details 1) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accrued income and other assets [Member] | ||
Asset derivatives included in accrued income and other assets | ||
Interest rate contracts designated as hedging instruments | $53,114 | $49,998 |
Interest rate contracts not designated as hedging instruments | 183,610 | 169,047 |
Foreign exchange contracts not designated as hedging instruments | 32,798 | 28,499 |
Commodities contracts not designated as hedging instruments | 180,218 | 4,278 |
Total derivative assets | 449,740 | 251,822 |
Accrued expenses and other liabilities [Member] | ||
Liability derivatives included in accrued expenses and other liabilities | ||
Interest rate contracts designated as hedging instruments | 12,648 | 25,321 |
Interest rate contracts not designated as hedging instruments | 110,627 | 99,247 |
Foreign exchange contracts not designated as hedging instruments | 29,754 | 18,909 |
Commodities contracts not designated as hedging instruments | 179,180 | 3,838 |
Total derivative liabilities | $332,209 | $147,315 |
Derivative_Financial_Instrumen5
Derivative Financial Instruments (Cash flow hedges) (Details 2) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Gains and (losses) recognized in other comprehensive income (loss) (OCI) for derivatives designated as effective cash flow hedges | |||
Amount of gain or (loss) recognized in OCI on derivatives (effective portion) | $9,192 | ($56,056) | ($3,569) |
Amount of gain or (loss) reclassified from accumulated OCI into earnings (effective portion) | -3,971 | -15,188 | 14,992 |
Hedged Other long term debt [Member] | Interest expense subordinated notes and other long term debt [Member] | |||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | |||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | 828 | 6,843 | -114 |
Hedged Subordinated notes [Member] | Interest expense subordinated notes and other long term debt [Member] | |||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | |||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | -476 | 44,699 | -1,432 |
Hedged Deposits [Member] | Interest expense deposits [Member] | |||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | |||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | 1,025 | 4,003 | 2,601 |
FHLB Advances [Member] | Cash flow hedging [Member] | |||
Gains and (losses) recognized in other comprehensive income (loss) (OCI) for derivatives designated as effective cash flow hedges | |||
Amount of gain or (loss) recognized in OCI on derivatives (effective portion) | 0 | 0 | 0 |
Amount of gain or (loss) reclassified from accumulated OCI into earnings (effective portion) | 0 | 0 | 0 |
Loan [Member] | Cash flow hedging [Member] | |||
Gains and (losses) recognized in other comprehensive income (loss) (OCI) for derivatives designated as effective cash flow hedges | |||
Amount of gain or (loss) recognized in OCI on derivatives (effective portion) | 9,192 | -56,056 | -2,866 |
Amount of gain or (loss) reclassified from accumulated OCI into earnings (effective portion) | -4,064 | -14,979 | 14,849 |
Investment securities [Member] | Cash flow hedging [Member] | |||
Gains and (losses) recognized in other comprehensive income (loss) (OCI) for derivatives designated as effective cash flow hedges | |||
Amount of gain or (loss) recognized in OCI on derivatives (effective portion) | 0 | 0 | -703 |
Amount of gain or (loss) reclassified from accumulated OCI into earnings (effective portion) | 93 | -209 | 0 |
Deposits [Member] | Cash flow hedging [Member] | |||
Gains and (losses) recognized in other comprehensive income (loss) (OCI) for derivatives designated as effective cash flow hedges | |||
Amount of gain or (loss) recognized in OCI on derivatives (effective portion) | 0 | 0 | 0 |
Amount of gain or (loss) reclassified from accumulated OCI into earnings (effective portion) | 0 | 0 | 0 |
Deposits [Member] | Interest expense deposits [Member] | |||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | |||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | -1,045 | -4,006 | -2,526 |
Subordinated notes | Cash flow hedging [Member] | |||
Gains and (losses) recognized in other comprehensive income (loss) (OCI) for derivatives designated as effective cash flow hedges | |||
Amount of gain or (loss) recognized in OCI on derivatives (effective portion) | 0 | 0 | 0 |
Amount of gain or (loss) reclassified from accumulated OCI into earnings (effective portion) | 0 | 0 | 143 |
Subordinated notes | Interest expense subordinated notes and other long term debt [Member] | |||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | |||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | 476 | -44,699 | 1,432 |
Other long-term debt | Cash flow hedging [Member] | |||
Gains and (losses) recognized in other comprehensive income (loss) (OCI) for derivatives designated as effective cash flow hedges | |||
Amount of gain or (loss) recognized in OCI on derivatives (effective portion) | 0 | 0 | 0 |
Amount of gain or (loss) reclassified from accumulated OCI into earnings (effective portion) | 0 | 0 | 0 |
Other long-term debt | Interest expense subordinated notes and other long term debt [Member] | |||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | |||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | $1,990 | ($5,716) | $114 |
Derivative_Financial_Instrumen6
Derivative Financial Instruments (Fair value hedges) (Details 3) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
FHLB Advances [Member] | |||
Gains and (losses) recognized in noninterest income on the ineffective portion on interest rate contracts for derivatives designated as fair value and cash flow hedges | |||
Gains and (losses) recognized in noninterest income on the ineffective portion on interest rate contracts for derivatives designated as cash flow hedges | $0 | $0 | $0 |
Loan [Member] | |||
Gains and (losses) recognized in noninterest income on the ineffective portion on interest rate contracts for derivatives designated as fair value and cash flow hedges | |||
Gains and (losses) recognized in noninterest income on the ineffective portion on interest rate contracts for derivatives designated as cash flow hedges | $74 | $878 | ($179) |
Derivative_Financial_Instrumen7
Derivative Financial Instruments (BS Offsetting) (Details 4) (Deriviative Contract [Member], USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deriviative Contract [Member] | ||
Derivative Asset, Fair Value, Amount Offset Against Collateral [Abstract] | ||
Cash collateral received | ($1,095) | ($360) |
Derivative Assets [Abstract] | ||
Gross amounts offset in the statement of financial position | -128,161 | -111,458 |
Gross amounts not offset in the statement of financial position - financial instruments | -27,744 | -35,205 |
Derivative Assets | 323,803 | 153,880 |
Derivative Asset, Fair Value, Net [Abstract] | ||
Gross amounts of recognized assets | 480,803 | 300,903 |
Net amounts of assets presented in the statement of financial position | 352,642 | 189,445 |
Derivative Liability, Fair Value, Amount Offset Against Collateral [Abstract] | ||
Cash collateral given | -111 | 290 |
Derivative Liabilities [Abstract] | ||
Gross amounts offset in the statement of financial position | -78,937 | -76,539 |
Gross amounts not offset in the statement of financial position - financial instruments | -78,654 | -86,204 |
Derivative Liabilities | 205,490 | 33,944 |
Derivative Liability, Fair Value, Net [Abstract] | ||
Gross amounts of recognized liabilities | 363,192 | 196,397 |
Net amounts of assets presented in the statement of financial position | $284,255 | $119,858 |
Derivative_Financial_Instrumen8
Derivative Financial Instruments (Mortgage banking activities) (Details 6) (Derivative used in Mortgage Banking Activities [Member], USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Derivative assets: | ||
Total derivative assets | $4,099 | $7,063 |
Derivative liabilities: | ||
Total derivative liabilities | -4,019 | -271 |
Net derivative asset (liability) | 80 | 6,792 |
Interest rate lock agreements [Member] | ||
Derivative assets: | ||
Total derivative assets | 4,064 | 3,066 |
Derivative liabilities: | ||
Total derivative liabilities | -259 | -231 |
Forward trades and options [Member] | ||
Derivative assets: | ||
Total derivative assets | 35 | 3,997 |
Derivative liabilities: | ||
Total derivative liabilities | ($3,760) | ($40) |
Derivative_Financial_Instrumen9
Derivative Financial Instruments (Details Textuals) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Derivative Financial Instruments (Textuals) [Abstract] | |||
Derivative financial instruments used by Huntington on behalf of customers including offsetting derivatives, notional value | $14,400,000 | $14,300,000 | |
Credit risks from interest rate swaps used for trading purposes | 219,300,000 | 160,400,000 | |
Purchase of interest rate caps and derivative financial instruments, notional value | 12,129,100,000 | ||
Interest rate caps sold, value | 0 | ||
Total notional amount corresponds to trading assets, fair value | 3,000,000 | ||
Total notional amount corresponds to trading liabilities, fair value | 0 | ||
Gains (losses) related to derivative instruments Included in total MSR | 0 | -100,000 | |
Additional Derivative Financial Instruments (Textuals) [Abstract] | |||
Aggregate credit risk, net of collateral | 19,500,000 | 15,200,000 | |
Investment securities and cash collateral pledged by Huntington | 0 | ||
Investment securities and cash collateral pledged to Huntington | 0 | ||
Increase (decrease) to net interest income due to derivative adjustment | 97,600,000 | 95,400,000 | 107,500,000 |
Expected after-tax unrealized gains on cash flow hedging derivatives reclassified to earnings | 21,100,000 | ||
Interest Rate Cap [Member] | |||
Derivative Financial Instruments (Textuals) [Abstract] | |||
Purchase of interest rate caps and derivative financial instruments, notional value | 0 | ||
Swap [Member] | |||
Derivative Financial Instruments (Textuals) [Abstract] | |||
Total derivative liabilities | 400,000 | ||
Derivative used in trading activity [Member] | |||
Derivative Financial Instruments (Textuals) [Abstract] | |||
Net derivative asset (liability) | 74,400,000 | 80,500,000 | |
Derivative used in Mortgage Banking Activities [Member] | |||
Derivative Financial Instruments (Textuals) [Abstract] | |||
Net derivative asset (liability) | 80,000 | 6,792,000 | |
Derivative financial instruments used by Huntington on behalf of customers including offsetting derivatives, notional value | 600,000,000 | ||
Total derivative liabilities | $4,019,000 | $271,000 |
Variable_Interest_Entities_Con
Variable Interest Entities (Consolidated and Unconsolidated) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2014 | Mar. 31, 2014 | Sep. 30, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Assets | ||||||||
Cash | $1,220,565,000 | $1,001,132,000 | ||||||
Loans and leases | 47,655,726,000 | 43,120,500,000 | ||||||
Allowance for loan and lease losses | -605,196,000 | -647,870,000 | -769,075,000 | -964,828,000 | ||||
Net loans and leases | 47,050,530,000 | 42,472,630,000 | ||||||
Accrued income and other assets | 1,807,208,000 | 1,609,876,000 | ||||||
Total assets | 66,298,010,000 | 59,467,174,000 | ||||||
Liabilities | ||||||||
Long-term borrowings | 4,335,962,000 | 2,458,272,000 | ||||||
Accrued interest and other liabilities | 1,504,626,000 | 1,059,888,000 | ||||||
Total liabilities | 59,969,840,000 | 53,377,021,000 | ||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | ||||||||
Total assets | 527,513,000 | 504,381,000 | ||||||
Total liabilities | 557,696,000 | 522,270,000 | ||||||
Maximum exposure to loss | 513,594,000 | 490,617,000 | ||||||
Variable Interest Entities (Textuals) [Abstract] | ||||||||
Maximum year to defer payment of interest on debenture | not exceeding five years | |||||||
Commitments to limited partnership interests, gross | 556,900,000 | 532,100,000 | ||||||
Funded Commitments to limited partnership interests | 412,500,000 | 380,000,000 | ||||||
Total of automobile loans transferred in securitization transactions | 1,300,000,000 | 1,000,000,000 | 1,000,000,000 | |||||
Consolidated Trusts [Member] | ||||||||
Assets | ||||||||
Cash | 0 | 87,733,000 | ||||||
Loans and leases | 0 | 203,457,000 | ||||||
Allowance for loan and lease losses | 0 | -711,000 | ||||||
Net loans and leases | 0 | 202,746,000 | ||||||
Accrued income and other assets | 243,000 | 982,000 | ||||||
Total assets | 243,000 | 291,461,000 | ||||||
Liabilities | ||||||||
Long-term borrowings | 0 | 0 | ||||||
Accrued interest and other liabilities | 243,000 | 262,000 | ||||||
Total liabilities | 243,000 | 262,000 | ||||||
2006 Automobile Trust [Member] | ||||||||
Assets | ||||||||
Cash | 0 | 79,153,000 | ||||||
Loans and leases | 0 | 151,171,000 | ||||||
Allowance for loan and lease losses | 0 | -711,000 | ||||||
Net loans and leases | 0 | 150,460,000 | ||||||
Accrued income and other assets | 0 | 485,000 | ||||||
Total assets | 0 | 230,098,000 | ||||||
Liabilities | ||||||||
Long-term borrowings | 0 | 0 | ||||||
Accrued interest and other liabilities | 0 | 0 | ||||||
Total liabilities | 0 | 0 | ||||||
2009 Automobile Trust [Member] | ||||||||
Assets | ||||||||
Cash | 0 | 8,580,000 | ||||||
Loans and leases | 0 | 52,286,000 | ||||||
Allowance for loan and lease losses | 0 | 0 | ||||||
Net loans and leases | 0 | 52,286,000 | ||||||
Accrued income and other assets | 0 | 235,000 | ||||||
Total assets | 0 | 61,101,000 | ||||||
Liabilities | ||||||||
Long-term borrowings | 0 | 0 | ||||||
Accrued interest and other liabilities | 0 | 0 | ||||||
Total liabilities | 0 | 0 | ||||||
Franklin 2009 Trust [Member] | ||||||||
Assets | ||||||||
Cash | 0 | 0 | ||||||
Loans and leases | 0 | 0 | ||||||
Allowance for loan and lease losses | 0 | 0 | ||||||
Net loans and leases | 0 | 0 | ||||||
Accrued income and other assets | 243,000 | 262,000 | ||||||
Total assets | 243,000 | 262,000 | ||||||
Liabilities | ||||||||
Long-term borrowings | 0 | 0 | ||||||
Accrued interest and other liabilities | 243,000 | 262,000 | ||||||
Total liabilities | 243,000 | 262,000 | ||||||
Sky Financial Capital Trust IV [Member] | ||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | ||||||||
Total assets | 2,320,000 | |||||||
Sky Financial Capital Trust III [Member] | ||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | ||||||||
Total assets | 2,165,000 | |||||||
Huntington Capital II [Member] | ||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | ||||||||
Total assets | 3,093,000 | |||||||
Huntington Capital I [Member] | ||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | ||||||||
Total assets | 6,186,000 | |||||||
Trust Preferred Securities Total [Member] | ||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | ||||||||
Total assets | 13,919,000 | 13,764,000 | ||||||
Total liabilities | 317,075,000 | 312,894,000 | ||||||
Maximum exposure to loss | 0 | 0 | ||||||
2012-2 Automobile Trust [Member] | ||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | ||||||||
Total assets | 3,220,000 | 7,396,000 | ||||||
Total liabilities | 0 | 0 | ||||||
Maximum exposure to loss | 3,220,000 | 7,396,000 | ||||||
2012-1 Automobile Trust [Member] | ||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | ||||||||
Total assets | 2,136,000 | 5,975,000 | ||||||
Total liabilities | 0 | 0 | ||||||
Maximum exposure to loss | 2,136,000 | 5,975,000 | ||||||
2011 Automobile Trust [Member] | ||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | ||||||||
Total assets | 944,000 | 3,040,000 | ||||||
Total liabilities | 0 | 0 | ||||||
Maximum exposure to loss | 944,000 | 3,040,000 | ||||||
Tower Hill Securities [Member] | ||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | ||||||||
Total assets | 55,611,000 | 66,702,000 | ||||||
Total liabilities | 65,000,000 | 65,000,000 | ||||||
Maximum exposure to loss | 55,611,000 | 66,702,000 | ||||||
Low Income Housing Tax Credit Partnerships [Member] | ||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | ||||||||
Total assets | 368,283,000 | 317,226,000 | ||||||
Total liabilities | 154,861,000 | 134,604,000 | ||||||
Maximum exposure to loss | 368,283,000 | 317,226,000 | ||||||
Affortable Housing Tax Credit Investments [Abstract] | ||||||||
Affordable housing tax credit investments | 576,381,000 | 484,799,000 | ||||||
Amortization | 208,098,000 | 167,573,000 | ||||||
Net affordable housing tax credit investments | 368,283,000 | 317,226,000 | ||||||
Unfunded commitments | 154,861,000 | 134,604,000 | ||||||
Tax credits and other tax benefits recognized | 51,317,000 | 55,819,000 | 55,558,000 | |||||
Other investments | ||||||||
Carrying amount and classification of unconsolidated trusts assets and liabilities | ||||||||
Total assets | 83,400,000 | 90,278,000 | ||||||
Total liabilities | 20,760,000 | 9,772,000 | ||||||
Maximum exposure to loss | $83,400,000 | $90,278,000 |
Variable_Interest_Entities_Tru
Variable Interest Entities (Trust preferred Securities) (Details 1) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | |
Summary of Outstanding Trust Preferred Securities | |||
Maximum exposure to loss | $513,594 | $490,617 | |
Principal amount of subordinated note/ debenture issued to trust | 317,075 | ||
Sky Financial Capital Trust IV [Member] | |||
Summary of Outstanding Trust Preferred Securities | |||
Interest rate on Trust Preferred Securities | 1.63% | [1] | |
Principal amount of subordinated note/ debenture issued to trust | 74,320 | [2] | |
Summary of Outstanding Trust Preferred Securities (Textuals) [Abstract] | |||
Rate spread over three month LIBOR | 1.33% | ||
Sky Financial Capital Trust III [Member] | |||
Summary of Outstanding Trust Preferred Securities | |||
Interest rate on Trust Preferred Securities | 1.66% | [1] | |
Principal amount of subordinated note/ debenture issued to trust | 72,165 | [2] | |
Summary of Outstanding Trust Preferred Securities (Textuals) [Abstract] | |||
Rate spread over three month LIBOR | 1.40% | ||
Huntington Capital II [Member] | |||
Summary of Outstanding Trust Preferred Securities | |||
Interest rate on Trust Preferred Securities | 0.87% | [3] | |
Principal amount of subordinated note/ debenture issued to trust | 54,593 | [2] | |
Summary of Outstanding Trust Preferred Securities (Textuals) [Abstract] | |||
Rate spread over three month LIBOR | 62.50% | ||
Huntington Capital I [Member] | |||
Summary of Outstanding Trust Preferred Securities | |||
Interest rate on Trust Preferred Securities | 0.93% | [4] | |
Principal amount of subordinated note/ debenture issued to trust | 111,816 | [2] | |
Summary of Outstanding Trust Preferred Securities (Textuals) [Abstract] | |||
Rate spread over three month LIBOR | 0.70% | ||
Trust Preferred Securities Total [Member] | |||
Summary of Outstanding Trust Preferred Securities | |||
Maximum exposure to loss | 0 | 0 | |
2011 Automobile Trust [Member] | |||
Summary of Outstanding Trust Preferred Securities | |||
Maximum exposure to loss | 944 | 3,040 | |
Tower Hill Securities [Member] | |||
Summary of Outstanding Trust Preferred Securities | |||
Maximum exposure to loss | 55,611 | 66,702 | |
Low Income Housing Tax Credit Partnerships [Member] | |||
Summary of Outstanding Trust Preferred Securities | |||
Maximum exposure to loss | 368,283 | 317,226 | |
2012-1 Automobile Trust [Member] | |||
Summary of Outstanding Trust Preferred Securities | |||
Maximum exposure to loss | 2,136 | 5,975 | |
2012-2 Automobile Trust [Member] | |||
Summary of Outstanding Trust Preferred Securities | |||
Maximum exposure to loss | $3,220 | $7,396 | |
[1] | Variable effective rate at December 31, 2014, based on three month LIBOR + 1.40. | ||
[2] | Represents the principal amount of debentures issued to each trust, including unamortized original issue discount. | ||
[3] | Variable effective rate at December 31, 2014, based on three month LIBOR + 0.625. | ||
[4] | Variable effective rate at December 31, 2014, based on three month LIBOR + 0.70. |
Variable_Interest_Entities_Ear
Variable Interest Entities (Early adoption) (Details 2) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Consolidated Balance Sheets [Abstract] | |||||||||||
Other Assets | $1,807,208 | $1,609,876 | $1,807,208 | $1,609,876 | |||||||
Retained (deficit) earnings | -1,052,324 | -1,479,324 | -1,052,324 | -1,479,324 | |||||||
Consolidated Statements of Income [Abstract] | |||||||||||
Noninterest Income | 233,278 | 247,349 | 250,067 | 248,485 | 249,892 | 253,767 | 251,919 | 256,618 | 979,179 | 1,012,196 | 1,106,321 |
Income Tax Expense (Benefit) | 57,151 | 53,870 | 57,475 | 52,097 | 52,029 | 65,047 | 55,269 | 55,129 | 220,593 | 227,474 | 202,291 |
Net Income (Loss) Attributable to Parent | $163,614 | $155,016 | $164,619 | $149,143 | $158,172 | $178,836 | $151,000 | $153,274 | $632,392 | $641,282 | $631,290 |
Commitments_and_Contingent_Lia2
Commitments and Contingent Liabilities (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Commercial [Member] | ||
Contract amounts of various commitments to extend credit | ||
Contract amount represents credit risk | $11,181,522 | $10,198,327 |
Consumer [Member] | ||
Contract amounts of various commitments to extend credit | ||
Contract amount represents credit risk | 7,579,632 | 6,544,606 |
Commercial Real Estate [Member] | ||
Contract amounts of various commitments to extend credit | ||
Contract amount represents credit risk | 908,112 | 765,982 |
Standby Letters of Credit [Member] | ||
Contract amounts of various commitments to extend credit | ||
Contract amount represents credit risk | $497,457 | $439,834 |
Commitments_and_Contingent_Lia3
Commitments and Contingent Liabilities (Details Textual) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Additional Commitments and Contingent Liabilities (Textuals) [Abstract] | ||||
Carrying amount of deferred revenue associated with guarantees | $4,400,000 | $2,100,000 | ||
Commitments and Contingent Liabilities (Textuals) [Abstract] | ||||
Commitments to sell residential real estate loans | 545,000,000 | 452,600,000 | ||
Maturity period of forward contracts relating mortgage banking business | less than one year | |||
Gross unrecognized tax benefit | 1,172,000 | 704,000 | 6,246,000 | |
Total interest accrued on the unrecognized tax benefits | 0 | 100,000 | ||
Aggregate range of reasonably possible losses current legal proceedings, Min | 0 | |||
Aggregate range of reasonably possible losses current legal proceedings, Max | 130,000,000 | |||
Recovery from the bank as a form of unjust enrichment | 0 | |||
Direct damage claimed by Plantiffs | 0 | |||
Bankruptcy trustee alleging for the amount | 70,000,000 | |||
Preferential transfer alleged by bankruptcy trustee | 1,200,000 | |||
Fraudulent transfers alleged by Teleservices bankruptcy trustee | 73,000,000 | |||
Credit related to recoveries in preference actions filed | 4,000,000 | |||
Bankruptcy trustee unable to recover | 900,000 | |||
Bankruptcy Court recommended judgment amount in Cyberco case, principal | 71,800,000 | |||
Bankruptcy Court recommended judgment amount in Cyberco case, interest | 8,800,000 | |||
Operating Leases, Future Minimum Payments Due [Abstract] | ||||
Operating Leases, Future Minimum Payments Due, Current | 50,900,000 | |||
Operating Leases, Future Minimum Payments, Due in Two Years | 47,700,000 | |||
Operating Leases, Future Minimum Payments, Due in Three Years | 44,400,000 | |||
Operating Leases, Future Minimum Payments, Due in Four Years | 41,200,000 | |||
Operating Leases, Future Minimum Payments, Due in Five Years | 37,900,000 | |||
Operating Leases, Future Minimum Payments, Due Thereafter | 237,100,000 | |||
Operating Leases, Future Minimum Payments Due | 459,200,000 | |||
Operating Leases, Rent Expense, Net [Abstract] | ||||
Operating Leases, Future Minimum Payments Due, Future Minimum Sublease Rentals, Total | 8,400,000 | |||
Operating Leases, Future Minimum Payments Due, Future Minimum Sublease Rentals, Next Twelve Months | 4,000,000 | |||
Operating Leases, Future Minimum Payments Due, Future Minimum Sublease Rentals, within Two Years | 2,000,000 | |||
Operating Leases, Future Minimum Payments Due, Future Minimum Sublease Rentals, within Three Years | 1,000,000 | |||
Operating Leases, Future Minimum Payments Due, Future Minimum Sublease Rentals, within Four Years | 600,000 | |||
Operating Leases, Future Minimum Payments Due, Future Minimum Sublease Rentals, within Five Years | 300,000 | |||
Operating Leases, Future Minimum Payments Due, Future Minimum Sublease Rentals, Thereafter | 500,000 | |||
Total rental expense for all operating leases | 57,200,000 | 55,300,000 | 54,700,000 | |
Standby Letters of Credit [Member] | ||||
Additional Commitments and Contingent Liabilities (Textuals) [Abstract] | ||||
Maturity period of majority of standby letters of credit | within two years | |||
Outstanding standby letters of credit | 497,457,000 | 439,834,000 | ||
Percentage of Outstanding standby letters of credit collateralized | 8000.00% | |||
Commercial Letters of Credit [Member] | ||||
Additional Commitments and Contingent Liabilities (Textuals) [Abstract] | ||||
Maturity period of Commercial letters of credit | no longer than 90 days | |||
Risk Level, Low [Member] | ||||
Additional Commitments and Contingent Liabilities (Textuals) [Abstract] | ||||
Outstanding standby letters of credit | 137,000,000 | |||
Risk Level, Medium [Member] | ||||
Additional Commitments and Contingent Liabilities (Textuals) [Abstract] | ||||
Outstanding standby letters of credit | 360,000,000 | |||
Risk Level, High [Member] | ||||
Additional Commitments and Contingent Liabilities (Textuals) [Abstract] | ||||
Outstanding standby letters of credit | $0 |
Other_Regulatory_Matters_Detai
Other Regulatory Matters (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Huntington Bancshares Incorporated [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier 1 amount | $6,265,900 | $6,099,629 |
Tier 1 ratio | 11.50% | 12.28% |
Risk based capital amount | 7,388,336 | 7,239,035 |
Risk based capital ratio | 13.56% | 14.57% |
Tier 1 Leverage amount | 6,265,900 | 6,099,629 |
Tier 1 Leverage ratio | 9.74% | 10.67% |
Huntington National Bank [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier 1 amount | 6,136,190 | 5,682,067 |
Tier 1 ratio | 11.28% | 11.45% |
Risk based capital amount | 6,956,242 | 6,520,190 |
Risk based capital ratio | 12.79% | 13.14% |
Tier 1 Leverage amount | $6,136,190 | $5,682,067 |
Tier 1 Leverage ratio | 9.56% | 9.97% |
Other_Regulatory_Matters_Detai1
Other Regulatory Matters (Details Textuals) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Banking and Thrift [Abstract] | ||
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 4.00% | |
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 6.00% | |
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% | |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | |
Amount Bank Could Lend To Single Affiliate | $695,600,000 | |
Average required reserve balance on deposits | $200,000,000 | $300,000,000 |
Parent_Company_Financial_State2
Parent Company Financial Statements (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |||||
Assets | |||||||||||||||||
Cash and cash equivalents | $1,220,565,000 | $1,001,132,000 | $1,220,565,000 | $1,001,132,000 | $1,115,968,000 | ||||||||||||
Accrued interest receivable and other assets | 1,807,208,000 | 1,609,876,000 | 1,807,208,000 | 1,609,876,000 | |||||||||||||
Assets | 66,298,010,000 | 59,467,174,000 | 66,298,010,000 | 59,467,174,000 | |||||||||||||
LIABILITIES AND SHAREHOLDERS' EQUITY | |||||||||||||||||
Short-term borrowings | 2,397,101,000 | 2,352,143,000 | 2,397,101,000 | 2,352,143,000 | |||||||||||||
Long-term borrowings | 4,335,962,000 | 2,458,272,000 | 4,335,962,000 | 2,458,272,000 | |||||||||||||
Accrued expenses and other liabilities | 1,504,626,000 | 1,059,888,000 | 1,504,626,000 | 1,059,888,000 | |||||||||||||
Liabilities | 59,969,840,000 | 53,377,021,000 | 59,969,840,000 | 53,377,021,000 | |||||||||||||
Shareholders' equity | 6,328,170,000 | 6,090,153,000 | 6,328,170,000 | 6,090,153,000 | 5,778,500,000 | 5,416,121,000 | |||||||||||
Total liabilities and shareholders' equity | 66,298,010,000 | 59,467,174,000 | 66,298,010,000 | 59,467,174,000 | |||||||||||||
Interest from | |||||||||||||||||
Other | 126,004,000 | 138,825,000 | 137,707,000 | ||||||||||||||
Expense | |||||||||||||||||
Personnel costs | 1,048,775,000 | 1,001,637,000 | 988,193,000 | ||||||||||||||
Other | 174,810,000 | 141,385,000 | 199,219,000 | ||||||||||||||
Total Expense | 483,271,000 | 480,318,000 | 458,636,000 | 460,121,000 | 446,009,000 | 423,336,000 | 445,865,000 | 442,793,000 | 1,882,346,000 | 1,758,003,000 | 1,835,876,000 | ||||||
Income (loss) before income taxes and equity in undistributed net income of subsidiaries | 220,765,000 | 208,886,000 | 222,094,000 | 201,240,000 | 210,201,000 | 243,883,000 | 206,269,000 | 208,403,000 | 852,985,000 | 868,756,000 | 833,581,000 | ||||||
Income taxes | 57,151,000 | 53,870,000 | 57,475,000 | 52,097,000 | 52,029,000 | 65,047,000 | 55,269,000 | 55,129,000 | 220,593,000 | 227,474,000 | 202,291,000 | ||||||
Increase (decrease) in undistributed net income of: | |||||||||||||||||
Net Income (Loss) Attributable to Parent | 163,614,000 | 155,016,000 | 164,619,000 | 149,143,000 | 158,172,000 | 178,836,000 | 151,000,000 | 153,274,000 | 632,392,000 | 641,282,000 | 631,290,000 | ||||||
Operating activities | |||||||||||||||||
Net Income (Loss) Attributable to Parent | 163,614,000 | 155,016,000 | 164,619,000 | 149,143,000 | 158,172,000 | 178,836,000 | 151,000,000 | 153,274,000 | 632,392,000 | 641,282,000 | 631,290,000 | ||||||
Adjustments to reconcile net income to net cash provided by operating activities | |||||||||||||||||
Depreciation and amortization | 332,832,000 | 281,545,000 | 274,572,000 | ||||||||||||||
Net cash provided by (used for) operating activities | 888,786,000 | 1,013,245,000 | 1,002,130,000 | ||||||||||||||
Investing activities | |||||||||||||||||
Net cash provided by (used for) investing activities | -5,004,781,000 | -4,240,333,000 | -1,082,978,000 | ||||||||||||||
Financing activities | |||||||||||||||||
Payment of borrowings | 118,698,000 | 854,558,000 | -939,979,000 | ||||||||||||||
Dividends paid on preferred stock | -31,854,000 | -31,869,000 | -31,719,000 | ||||||||||||||
Dividends paid on common stock | -166,935,000 | -150,608,000 | -137,616,000 | ||||||||||||||
Dividends Paid | -169,335,000 | ||||||||||||||||
Repurchase of common stock | -334,429,000 | -124,995,000 | -148,881,000 | ||||||||||||||
Proceeds from Issuance of Common Stock | 2,597,000 | 0 | 0 | ||||||||||||||
Repurchase of Warrant to the Treasury | 0 | 0 | 0 | ||||||||||||||
Other, net | 4,635,000 | -225,000 | -3,237,000 | ||||||||||||||
Net cash provided by (used for) financing activities | 4,335,428,000 | 2,965,414,000 | 227,686,000 | ||||||||||||||
Cash and Cash Equivalents, Period Increase (Decrease) | 219,433,000 | -261,674,000 | 146,838,000 | ||||||||||||||
Cash and cash equivalents at beginning of period | 1,001,132,000 | 1,001,132,000 | 1,262,806,000 | 1,115,968,000 | |||||||||||||
Cash and cash equivalents at end of period | 1,220,565,000 | 1,001,132,000 | 1,220,565,000 | 1,001,132,000 | 1,115,968,000 | ||||||||||||
Supplemental disclosures: | |||||||||||||||||
Interest paid | 131,488,000 | 155,832,000 | 231,897,000 | ||||||||||||||
Parent Company [Member] | |||||||||||||||||
Assets | |||||||||||||||||
Cash and cash equivalents | 662,768,000 | 966,065,000 | 662,768,000 | 966,065,000 | 921,471,000 | ||||||||||||
Due from The Huntington National Bank | 276,851,000 | 246,841,000 | 276,851,000 | 246,841,000 | |||||||||||||
Due from non-bank subsidiaries | 51,129,000 | 57,747,000 | 51,129,000 | 57,747,000 | |||||||||||||
Investment in The Huntington National Bank | 6,073,408,000 | 5,537,582,000 | 6,073,408,000 | 5,537,582,000 | |||||||||||||
Investment in non-bank subsidiaries | 509,114,000 | 587,388,000 | 509,114,000 | 587,388,000 | |||||||||||||
Accrued interest receivable and other assets | 279,366,000 | 286,036,000 | 279,366,000 | 286,036,000 | |||||||||||||
Assets | 7,852,636,000 | 7,681,659,000 | 7,852,636,000 | 7,681,659,000 | |||||||||||||
LIABILITIES AND SHAREHOLDERS' EQUITY | |||||||||||||||||
Long-term borrowings | 1,046,105,000 | 1,034,266,000 | 1,046,105,000 | 1,034,266,000 | |||||||||||||
Accrued expenses and other liabilities | 478,361,000 | 557,240,000 | 478,361,000 | 557,240,000 | |||||||||||||
Liabilities | 1,524,466,000 | 1,591,506,000 | 1,524,466,000 | 1,591,506,000 | |||||||||||||
Shareholders' equity | 6,328,170,000 | [1] | 6,090,153,000 | [1] | 6,328,170,000 | [1] | 6,090,153,000 | [1] | |||||||||
Total liabilities and shareholders' equity | 7,852,636,000 | 7,681,659,000 | 7,852,636,000 | 7,681,659,000 | |||||||||||||
Dividends from | |||||||||||||||||
The Huntington National Bank | 244,000,000 | 0 | 0 | ||||||||||||||
Non-bank subsidiaries | 27,773,000 | 55,473,000 | 36,450,000 | ||||||||||||||
Interest from | |||||||||||||||||
The Huntington National Bank | 3,906,000 | 6,598,000 | 38,617,000 | ||||||||||||||
Non-bank subsidiaries | 2,613,000 | 3,129,000 | 5,420,000 | ||||||||||||||
Other | 2,994,000 | 2,148,000 | 1,409,000 | ||||||||||||||
Total Income | 281,286,000 | 67,348,000 | 81,896,000 | ||||||||||||||
Expense | |||||||||||||||||
Personnel costs | 53,359,000 | 52,846,000 | 42,745,000 | ||||||||||||||
Interest on borrowings | 17,031,000 | 20,739,000 | 28,926,000 | ||||||||||||||
Other | 52,662,000 | 36,728,000 | 35,415,000 | ||||||||||||||
Total Expense | 123,052,000 | 110,313,000 | 107,086,000 | ||||||||||||||
Income (loss) before income taxes and equity in undistributed net income of subsidiaries | 158,234,000 | -42,965,000 | -25,190,000 | ||||||||||||||
Income taxes | -62,897,000 | -22,298,000 | -12,565,000 | ||||||||||||||
Income before equity in undistributed net income of subsidiaries | 221,131,000 | -20,667,000 | -12,625,000 | ||||||||||||||
Increase (decrease) in undistributed net income of: | |||||||||||||||||
The Huntington National Bank | 414,049,000 | 692,392,000 | 653,615,000 | ||||||||||||||
Non-bank subsidiaries | -2,788,000 | -30,443,000 | -9,700,000 | ||||||||||||||
Net Income (Loss) Attributable to Parent | 632,392,000 | 641,282,000 | 631,290,000 | ||||||||||||||
Statement of Income and Comprehensive Income [Abstract] | |||||||||||||||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | -8,283,000 | -63,192,000 | 22,946,000 | ||||||||||||||
Comprehensive Income, Net of Tax, Attributable to Parent | 624,109,000 | 578,090,000 | 654,236,000 | ||||||||||||||
Operating activities | |||||||||||||||||
Net Income (Loss) Attributable to Parent | 632,392,000 | 641,282,000 | 631,290,000 | ||||||||||||||
Adjustments to reconcile net income to net cash provided by operating activities | |||||||||||||||||
Equity in undistributed net income of subsidiaries | -411,261,000 | -718,144,000 | -688,149,000 | ||||||||||||||
Depreciation and amortization | 548,000 | 513,000 | 265,000 | ||||||||||||||
Other, net | 26,685,000 | 15,965,000 | 60,446,000 | ||||||||||||||
Net cash provided by (used for) operating activities | 248,364,000 | -60,384,000 | 3,852,000 | ||||||||||||||
Investing activities | |||||||||||||||||
Repayments from subsidiaries | 9,250,000 | 285,792,000 | 591,923,000 | ||||||||||||||
Advances to subsidiaries | -32,350,000 | -249,050,000 | -36,126,000 | ||||||||||||||
Payments To Acquire Businesses Net Of Cash Acquired | -13,452,000 | 0 | 0 | ||||||||||||||
Net cash provided by (used for) investing activities | -36,552,000 | 36,742,000 | 555,797,000 | ||||||||||||||
Financing activities | |||||||||||||||||
Payment of borrowings | 0 | -50,000,000 | -236,885,000 | ||||||||||||||
Proceeds from Issuance of Long-term Debt | 0 | 400,000,000 | 0 | ||||||||||||||
Dividends Paid | -198,789,000 | -182,476,000 | |||||||||||||||
Repurchase of common stock | -334,429,000 | -124,995,000 | -148,881,000 | ||||||||||||||
Proceeds from Issuance of Common Stock | 2,597,000 | 0 | 0 | ||||||||||||||
Other, net | 15,512,000 | 25,707,000 | -1,031,000 | ||||||||||||||
Net cash provided by (used for) financing activities | -515,109,000 | 68,236,000 | -556,132,000 | ||||||||||||||
Cash and Cash Equivalents, Period Increase (Decrease) | -303,297,000 | 44,594,000 | 3,517,000 | ||||||||||||||
Cash and cash equivalents at beginning of period | 966,065,000 | 921,471,000 | 966,065,000 | 921,471,000 | 917,954,000 | ||||||||||||
Cash and cash equivalents at end of period | 662,768,000 | 966,065,000 | 662,768,000 | 966,065,000 | 921,471,000 | ||||||||||||
Supplemental disclosures: | |||||||||||||||||
Interest paid | $21,321,000 | $20,739,000 | $28,926,000 | ||||||||||||||
[1] | (1) See Consolidated Statements of Changes in Shareholdersb Equity. |
Segment_Reporting_Details
Segment Reporting (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
segment | |||||||||||
market | |||||||||||
Business Segment Financial Information | |||||||||||
Net interest income | $473,252,000 | $466,335,000 | $460,048,000 | $437,506,000 | $430,649,000 | $424,852,000 | $424,937,000 | $424,170,000 | $1,837,141,000 | $1,704,608,000 | $1,710,524,000 |
Provision for credit losses | 2,494,000 | 24,480,000 | 29,385,000 | 24,630,000 | 24,331,000 | 11,400,000 | 24,722,000 | 29,592,000 | 80,989,000 | 90,045,000 | 147,388,000 |
Noninterest income | 233,278,000 | 247,349,000 | 250,067,000 | 248,485,000 | 249,892,000 | 253,767,000 | 251,919,000 | 256,618,000 | 979,179,000 | 1,012,196,000 | 1,106,321,000 |
Noninterest expense | 483,271,000 | 480,318,000 | 458,636,000 | 460,121,000 | 446,009,000 | 423,336,000 | 445,865,000 | 442,793,000 | 1,882,346,000 | 1,758,003,000 | 1,835,876,000 |
Income taxes | 57,151,000 | 53,870,000 | 57,475,000 | 52,097,000 | 52,029,000 | 65,047,000 | 55,269,000 | 55,129,000 | 220,593,000 | 227,474,000 | 202,291,000 |
Net Income (Loss) Attributable to Parent | 163,614,000 | 155,016,000 | 164,619,000 | 149,143,000 | 158,172,000 | 178,836,000 | 151,000,000 | 153,274,000 | 632,392,000 | 641,282,000 | 631,290,000 |
Segment Disclosure of Assets and Deposit | |||||||||||
Assets | 66,298,010,000 | 59,467,174,000 | 66,298,010,000 | 59,467,174,000 | |||||||
Deposits | 51,732,151,000 | 47,506,718,000 | 51,732,151,000 | 47,506,718,000 | |||||||
Segment Reporting (Textuals) [Abstract] | |||||||||||
Number of reporting segments | 5 | ||||||||||
Number of Regional and Commercial Banking markets | 11 | ||||||||||
Retail & Business Banking [Member] | |||||||||||
Business Segment Financial Information | |||||||||||
Net interest income | 912,992,000 | 902,526,000 | 941,844,000 | ||||||||
Provision for credit losses | 75,529,000 | 137,978,000 | 135,102,000 | ||||||||
Noninterest income | 409,746,000 | 398,065,000 | 380,820,000 | ||||||||
Noninterest expense | 982,288,000 | 964,193,000 | 973,691,000 | ||||||||
Income taxes | 92,722,000 | 69,447,000 | 74,855,000 | ||||||||
Net Income (Loss) Attributable to Parent | 172,199,000 | 128,973,000 | 139,016,000 | ||||||||
Segment Disclosure of Assets and Deposit | |||||||||||
Assets | 15,146,857,000 | 14,440,869,000 | 15,146,857,000 | 14,440,869,000 | |||||||
Deposits | 29,350,255,000 | 28,293,993,000 | 29,350,255,000 | 28,293,993,000 | |||||||
Commercial Banking [Member] | |||||||||||
Business Segment Financial Information | |||||||||||
Net interest income | 306,434,000 | 281,461,000 | 294,333,000 | ||||||||
Provision for credit losses | 31,521,000 | 27,464,000 | 4,602,000 | ||||||||
Noninterest income | 209,238,000 | 200,573,000 | 197,191,000 | ||||||||
Noninterest expense | 249,300,000 | 254,629,000 | 248,157,000 | ||||||||
Income taxes | 82,198,000 | 69,979,000 | 83,568,000 | ||||||||
Net Income (Loss) Attributable to Parent | 152,653,000 | 129,962,000 | 155,197,000 | ||||||||
Segment Disclosure of Assets and Deposit | |||||||||||
Assets | 15,043,477,000 | 12,410,339,000 | 15,043,477,000 | 12,410,339,000 | |||||||
Deposits | 11,184,566,000 | 10,187,891,000 | 11,184,566,000 | 10,187,891,000 | |||||||
AFCRE [Member] | |||||||||||
Business Segment Financial Information | |||||||||||
Net interest income | 379,363,000 | 366,508,000 | 369,376,000 | ||||||||
Provision for credit losses | -52,843,000 | -82,269,000 | -16,557,000 | ||||||||
Noninterest income | 26,628,000 | 46,819,000 | 91,314,000 | ||||||||
Noninterest expense | 156,715,000 | 156,469,000 | 160,434,000 | ||||||||
Income taxes | 105,742,000 | 118,694,000 | 110,885,000 | ||||||||
Net Income (Loss) Attributable to Parent | 196,377,000 | 220,433,000 | 205,928,000 | ||||||||
Segment Disclosure of Assets and Deposit | |||||||||||
Assets | 16,027,910,000 | 14,081,112,000 | 16,027,910,000 | 14,081,112,000 | |||||||
Deposits | 1,377,921,000 | 1,170,518,000 | 1,377,921,000 | 1,170,518,000 | |||||||
RBHPCG [Member] | |||||||||||
Business Segment Financial Information | |||||||||||
Net interest income | 101,839,000 | 105,862,000 | 104,329,000 | ||||||||
Provision for credit losses | 4,893,000 | -5,376,000 | 6,044,000 | ||||||||
Noninterest income | 173,550,000 | 186,430,000 | 181,650,000 | ||||||||
Noninterest expense | 236,634,000 | 236,895,000 | 253,901,000 | ||||||||
Income taxes | 11,852,000 | 21,271,000 | 9,112,000 | ||||||||
Net Income (Loss) Attributable to Parent | 22,010,000 | 39,502,000 | 16,922,000 | ||||||||
Segment Disclosure of Assets and Deposit | |||||||||||
Assets | 3,871,020,000 | 3,736,790,000 | 3,871,020,000 | 3,736,790,000 | |||||||
Deposits | 6,727,892,000 | 6,094,135,000 | 6,727,892,000 | 6,094,135,000 | |||||||
Home Lending [Member] | |||||||||||
Business Segment Financial Information | |||||||||||
Net interest income | 58,015,000 | 51,839,000 | 54,980,000 | ||||||||
Provision for credit losses | 21,889,000 | 12,249,000 | 18,198,000 | ||||||||
Noninterest income | 69,899,000 | 106,006,000 | 165,189,000 | ||||||||
Noninterest expense | 136,374,000 | 141,489,000 | 132,302,000 | ||||||||
Income taxes | -10,622,000 | 1,437,000 | 24,384,000 | ||||||||
Net Income (Loss) Attributable to Parent | -19,727,000 | 2,670,000 | 45,285,000 | ||||||||
Segment Disclosure of Assets and Deposit | |||||||||||
Assets | 3,949,247,000 | 3,742,527,000 | 3,949,247,000 | 3,742,527,000 | |||||||
Deposits | 326,841,000 | 329,511,000 | 326,841,000 | 329,511,000 | |||||||
Treasury/Other [Member] | |||||||||||
Business Segment Financial Information | |||||||||||
Net interest income | 78,498,000 | -3,588,000 | -54,338,000 | ||||||||
Provision for credit losses | 0 | -1,000 | -1,000 | ||||||||
Noninterest income | 90,118,000 | 74,303,000 | 90,157,000 | ||||||||
Noninterest expense | 121,035,000 | 4,328,000 | 67,391,000 | ||||||||
Income taxes | -61,299,000 | -53,354,000 | -100,513,000 | ||||||||
Net Income (Loss) Attributable to Parent | 108,880,000 | 119,742,000 | 68,942,000 | ||||||||
Segment Disclosure of Assets and Deposit | |||||||||||
Assets | 12,259,499,000 | 11,055,537,000 | 12,259,499,000 | 11,055,537,000 | |||||||
Deposits | $2,764,676,000 | $1,430,670,000 | $2,764,676,000 | $1,430,670,000 |
Business_Combinations_Detail_T
Business Combinations (Detail Textuals) (USD $) | 12 Months Ended | 0 Months Ended | |||
Share data in Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 02, 2014 | Sep. 12, 2014 |
business | business | ||||
Business Acquisition Line Items | |||||
Goodwill | $522,541,000 | $444,268,000 | |||
Business Combination, Bargain Purchase, Gain Recognized, Amount | 0 | 0 | 11,217,000 | ||
Camco Financial [Member] | |||||
Business Acquisition Line Items | |||||
BusinessAcquisitionNameOfAcquiredEntity | Camco Financial | ||||
BusinessAcquisitionDescriptionOfAcquiredEntity | Camco Financial operated 22 banking offices and served communities in Southeast Ohio. | ||||
BusinessCombinationReasonForBusinessCombination | The acquisition provides Huntington the opportunity to enhance our presence in several areas within our existing footprint and to expand into a few new markets. | ||||
Acquisition Date | 1-Mar-14 | ||||
NumberOfBusinessesAcquired | 22 | ||||
PaymentsToAcquireBusinessesGross | 17,800,000 | ||||
BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable | 91,700,000 | ||||
BusinessCombinationConsiderationTransferred1 | 109,500,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities | 557,400,000 | ||||
Business Combinatio nRecognized Identifiable Assets Acquired And Liabilities Assumed Financial Assets | 559,400,000 | ||||
Goodwill | 64,200,000 | ||||
Business Acquisition Number of Shares Issued | 8,700 | ||||
Cash Payment Per Share For Business Acquisition | $6 | ||||
Share Ratio Exchanged | 0.7264 | ||||
Bank of America Branches [Member] | |||||
Business Acquisition Line Items | |||||
Acquisition Date | 12-Sep-14 | ||||
NumberOfBusinessesAcquired | 24 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities | 745,200,000 | ||||
Goodwill | $17,100,000 |
Quarterly_Results_of_Operation2
Quarterly Results of Operations (Unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Selected Quarterly Financial Information [Abstract] | |||||||||||
Interest income | $507,625,000 | $501,060,000 | $495,322,000 | $472,455,000 | $469,824,000 | $462,912,000 | $462,582,000 | $465,319,000 | $1,976,462,000 | $1,860,637,000 | $1,930,263,000 |
Interest Expense | 34,373,000 | 34,725,000 | 35,274,000 | 34,949,000 | 39,175,000 | 38,060,000 | 37,645,000 | 41,149,000 | 139,321,000 | 156,029,000 | 219,739,000 |
Net interest income | 473,252,000 | 466,335,000 | 460,048,000 | 437,506,000 | 430,649,000 | 424,852,000 | 424,937,000 | 424,170,000 | 1,837,141,000 | 1,704,608,000 | 1,710,524,000 |
Provision for credit losses | 2,494,000 | 24,480,000 | 29,385,000 | 24,630,000 | 24,331,000 | 11,400,000 | 24,722,000 | 29,592,000 | 80,989,000 | 90,045,000 | 147,388,000 |
Noninterest Income | 233,278,000 | 247,349,000 | 250,067,000 | 248,485,000 | 249,892,000 | 253,767,000 | 251,919,000 | 256,618,000 | 979,179,000 | 1,012,196,000 | 1,106,321,000 |
Noninterest Expense | 483,271,000 | 480,318,000 | 458,636,000 | 460,121,000 | 446,009,000 | 423,336,000 | 445,865,000 | 442,793,000 | 1,882,346,000 | 1,758,003,000 | 1,835,876,000 |
Income before income taxes | 220,765,000 | 208,886,000 | 222,094,000 | 201,240,000 | 210,201,000 | 243,883,000 | 206,269,000 | 208,403,000 | 852,985,000 | 868,756,000 | 833,581,000 |
Provision for income taxes | 57,151,000 | 53,870,000 | 57,475,000 | 52,097,000 | 52,029,000 | 65,047,000 | 55,269,000 | 55,129,000 | 220,593,000 | 227,474,000 | 202,291,000 |
Net income | 163,614,000 | 155,016,000 | 164,619,000 | 149,143,000 | 158,172,000 | 178,836,000 | 151,000,000 | 153,274,000 | 632,392,000 | 641,282,000 | 631,290,000 |
Dividends on preferred shares | 7,963,000 | 7,964,000 | 7,963,000 | 7,964,000 | 7,965,000 | 7,967,000 | 7,967,000 | 7,970,000 | 31,854,000 | 31,869,000 | 31,989,000 |
Net income applicable to common shareholders | $155,651,000 | $147,052,000 | $156,656,000 | $141,179,000 | $150,207,000 | $170,869,000 | $143,033,000 | $145,304,000 | $600,538,000 | $609,413,000 | $599,301,000 |
Earnings Per Share, Basic | $0.19 | $0.18 | $0.19 | $0.17 | $0.18 | $0.21 | $0.17 | $0.17 | $0.73 | $0.73 | $0.70 |
Earnings Per Share, Diluted | $0.19 | $0.18 | $0.19 | $0.17 | $0.18 | $0.20 | $0.17 | $0.17 | $0.72 | $0.72 | $0.69 |
Uncategorized_Items
Uncategorized Items | 12/31/11 | |||||||||
USD ($) | ||||||||||
[hban_TrustPreferredSecuritiesExchange] | 0 | |||||||||
[us-gaap_DividendsPayableCurrentAndNoncurrent] | 47,312,000 | |||||||||
[us-gaap_SharesOutstanding] | 35,000 | 865,585,000 | 363,000 | -1,178,000 | ||||||
[us-gaap_StockholdersEquity] | -173,763,000 | 7,596,809,000 | 8,656,000 | -2,391,618,000 | -10,255,000 |