Variable Interest Entities (Tables)

9 Months Ended

Sep. 30, 2011

Variable Interest Entities [Abstract]

Carrying amount and classification of the trusts assets and liabilities

The carrying amount and classification of the trusts' assets and liabilities that are included in the Unaudited Condensed Consolidated Balance Sheet are as follows:

			September 30, 2011
			Franklin
(dollar amounts in thousands)			2009 Trust		2009 Trust		2008 Trust		2006 Trust		Total
Assets:
	Cash	$	---	$	20,095	$	14,551	$	56,132	$	90,778
	Loans and leases		---		344,535		164,095		810,666		1,319,296
	Allowance for loan and lease losses		---		---		(1,444)		(7,134)		(8,578)
	Net loans and leases		---		344,535		162,651		803,532		1,310,718
	Accrued income and other assets		1,753		1,607		667		3,145		7,172
Total assets		$	1,753	$	366,237	$	177,869	$	862,809	$	1,408,668
Liabilities:
	Other long-term debt	$	---	$	173,000	$	40,887	$	450,365	$	664,252
	Accrued interest and other liabilities		988		388		65		102		1,543
Total liabilities		$	988	$	173,388	$	40,952	$	450,467	$	665,795

The carrying amount and classification of the trust's assets and liabilities that are not included in the Unaudited Condensed Consolidated Balance Sheet were as follows:

		September 30, 2011
(dollar amounts in thousands)			2011 Trust
Assets:
	Cash	$	34,629
	Loans and leases		994,052
	Allowance for loan and lease losses		---
	Net loans and leases		994,052
	Accrued income and other assets		2,190
Total assets		$	1,030,871
Liabilities:
	Other long-term debt	$	1,000,000
	Accrued interest and other liabilities		792
Total liabilities		$	1,000,792

Summary of Outstanding Trust Preferred Securities

A list of trust-preferred securities outstanding at September 30, 2011, follows:

					Principal amount of			Investment in
					subordinated note/			unconsolidated
(dollar amounts in thousands)		Rate			debenture issued to trust (1)			subsidiary (2)
Huntington Capital I		0.95	%	(3)		$	138,816		$	6,186
Huntington Capital II		0.97		(4)			55,093			3,093
Huntington Capital III		6.69					114,094			10
BancFirst Ohio Trust Preferred		8.54					23,206			619
Sky Financial Capital Trust I		8.56					64,264			1,856
Sky Financial Capital Trust II		3.19		(5)			30,929			929
Sky Financial Capital Trust III		1.71		(6)			77,320			2,320
Sky Financial Capital Trust IV		1.64		(6)			77,320			2,320
Prospect Trust I		3.50		(7)			6,186			186
Total						$	587,228		$	17,519
(1)	Represents the principal amount of debentures issued to each trust, including unamortized original issue discount.
(2)	Huntington’s investment in the unconsolidated trusts represents the only risk of loss.
(3)	Variable effective rate at September 30, 2011, based on three month LIBOR + 0.70.
(4)	Variable effective rate at September 30, 2011, based on three month LIBOR + 0.625.
(5)	Variable effective rate at September 30, 2011, based on three month LIBOR + 2.95.
(6)	Variable effective rate at September 30, 2011, based on three month LIBOR + 1.40.
(7)	Variable effective rate at September 30, 2011, based on three month LIBOR + 3.25.