Huntington National Bank 2004 Annual Report Download - page 22

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20
KEY FINANCIAL MEASURES
in thousands 2004 2003
Operating Revenues (fully taxable equivalent) $ 158,242 $ 149,871
Operating Earnings 27,452 25,930
Total Loans and Leases (December 31) 1,487,753 1,296,412
PROFILE
Provides fiduciary services to more than 11,000 accounts with assets totaling $42.8 billion. PFG manages $9.8 billion in assets,
including $600 million managed by Haberer Registered Investment Advisor, Inc. and 29 Huntington Funds (Huntington’s
proprietary mutual fund family).
Products and services include personal, institutional, and corporate trust; asset management; investment advisory and brokerage
services; insurance and private banking.
REVIEW
Our unique distribution model employs a unified sales force for efficiently delivering Private Financial Group (PFG) services
through each distribution channel. This approach provides our customers with access to a single individual with the expertise
to present a complete menu of investment and private banking options. This assures that our personal bankers have the resources
and product knowledge to consider the best interests of the client. With this distribution effort, we have broad capabilities to
provide both individuals and businesses with the most appropriate investment consultation and service at each stage of the client’s
financial life cycle.
2004 was a year of continued growth and progress for PFG. At year end, we had nearly $10 billion of assets under management
with trust assets exceeding $42 billion, a 14% increase over a year ago. Our ability to grow assets is a direct result of innovative
products that meet customer needs. For example, we achieved outstanding success this year in selling managed accounts by
utilizing put and call option investment techniques tailored to current market conditions.
Success has also been fueled by the investment performance of many of our mutual funds. Morningstar, a leading mutual fund
evaluation service, rates five of our nine equity funds 4-Stars or higher for periods ending December 31, 2004. In 2004, our
proprietary mutual fund assets grew to $3.1 billion, and our equity fund assets grew by 24% from 2003. This growth was due
to an increased sales effort through our Retail Banking channel and a greater focus on asset gathering in our personal and
institutional trust activities.
The Private Financial Group continued to produce consistent growth in loans, deposits, and other banking services as a result of
aggressive calling activities in each of our regions. Our private bankers deliver all PFG banking, investment, and insurance products
with a focus on personal service. As a result, everyone wins, especially our customers.
Private Financial Group (PFG)
Our ability to grow assets is a direct result of innovative products that meet
customer needs…Our private bankers deliver all PFG banking, investment,
and insurance products with a focus on personal service. As a result, everyone
wins, especially our customers.
Dan Benhase
Senior Executive Vice President, Private Financial Group
23 years experience in the financial services industry