Variable Interest Entities (Tables)

3 Months Ended

Sep. 30, 2013

Variable Interest Entities [Abstract]

Carrying amount and classification of the trusts assets and liabilities

The following tables present the carrying amount and classification of the consolidated trusts' assets and liabilities that were included in the Unaudited Condensed Consolidated Balance Sheets at September 30, 2013 and December 31, 2012:

			September 30, 2013
			2009		2006		Other
			Automobile		Automobile		Consolidated
(dollar amounts in thousands)			Trust		Trust		Trusts		Total
Assets:
	Cash	$	8,987	$	79,153	$	---	$	88,140
	Loans and leases		69,780		188,871		---		258,651
	Allowance for loan and lease losses		---		(793)		---		(793)
	Net loans and leases		69,780		188,078		---		257,858
	Accrued income and other assets		283		565		261		1,109
Total assets		$	79,050	$	267,796	$	261	$	347,107

Liabilities:
	Other long-term debt	$	---	$	---	$	---	$	---
	Accrued interest and other liabilities		---		---		261		261
Total liabilities		$	---	$	---	$	261	$	261

			December 31, 2012
			2009		2006		Other
			Automobile		Automobile		Consolidated
(dollar amounts in thousands)			Trust		Trust		Trusts		Total
Assets:
	Cash	$	12,577	$	91,113	$	---	$	103,690
	Loans and leases		142,762		356,162		---		498,924
	Allowance for loan and lease losses		---		(2,671)		---		(2,671)
	Net loans and leases		142,762		353,491		---		496,253
	Accrued income and other assets		617		1,353		288		2,258
Total assets		$	155,956	$	445,957	$	288	$	602,201

Liabilities:
	Other long-term debt	$	---	$	2,086	$	---	$	2,086
	Accrued interest and other liabilities		---		1		288		289
Total liabilities		$	---	$	2,087	$	288	$	2,375

The following tables provide a summary of the assets and liabilities included in Huntington's Unaudited Condensed Consolidated Financial Statements, as well as the maximum exposure to losses, associated with its interests related to unconsolidated VIEs for which Huntington holds an interest, but is not the primary beneficiary, to the VIE at September 30, 2013, and December 31, 2012:

	September 30, 2013
(dollar amounts in thousands)		Total Assets		Total Liabilities		Maximum Exposure to Loss

2012-1 Automobile Trust	$	7,298	$	---	$	7,298
2012-2 Automobile Trust		8,750		---		8,750
2011 Automobile Trust		3,827		---		3,827
Tower Hill Securities, Inc.		79,312		65,000		79,312
Trust Preferred Securities		13,764		312,894		---
Low Income Housing Tax Credit Partnerships		367,817		139,293		367,817
Total	$	480,768	$	517,187	$	467,004

	December 31, 2012
(dollar amounts in thousands)		Total Assets		Total Liabilities		Maximum Exposure to Loss

2012-1 Automobile Trust	$	12,649	$	---	$	12,649
2012-2 Automobile Trust		13,616		---		13,616
2011 Automobile Trust		7,076		---		7,076
Tower Hill Securities, Inc.		87,075		65,000		87,075
Trust Preferred Securities		13,764		312,894		---
Low Income Housing Tax Credit Partnerships		391,878		152,047		391,878
Total	$	526,058	$	529,941	$	512,294

Summary of Outstanding Trust Preferred Securities

A list of trust preferred securities outstanding at September 30, 2013 follows:

					Principal amount of			Investment in
					subordinated note/			unconsolidated
(dollar amounts in thousands)		Rate			debenture issued to trust (1)			subsidiary
Huntington Capital I		0.97	%	(2)		$	111,816		$	6,186
Huntington Capital II		0.88		(3)			54,593			3,093
Sky Financial Capital Trust III		1.65		(4)			72,165			2,165
Sky Financial Capital Trust IV		1.67		(4)			74,320			2,320
Total						$	312,894		$	13,764

(1)	Represents the principal amount of debentures issued to each trust, including unamortized original issue discount.
(2)	Variable effective rate at September 30, 2013, based on three month LIBOR + 0.70.
(3)	Variable effective rate at September 30, 2013, based on three month LIBOR + 0.625.
(4)	Variable effective rate at September 30, 2013, based on three month LIBOR + 1.40.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(e),(f))

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

-SubTopic 30

-Section 55

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6584090&loc=d3e28878-108400

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

-SubTopic 30

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

-SubTopic 30

-Section 45

-Paragraph 1A

-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 22

-Article 5

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.22)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 7

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 470

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

+ Details

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References+ Details