Huntington National Bank 2004 Annual Report Download - page 83

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MANAGEMENT’S DISCUSSION AND ANALYSIS HUNTINGTON BANCSHARES INCORPORATED
Table 26 — Private Financial Group(1)
Change From 2003 Change From 2002
2004 Amount % 2003 Amount % 2002
SUPPLEMENTAL DATA
# employees — full-time equivalent (eop) 690 0 —% 690 (2) (0.3)% 692
# licensed bankers (eop) 669 (26) (3.7) 695 50 7.8 645
Brokerage and Insurance Income (in thousands)
Mutual fund revenue $ 5,222 $ 851 19.5% $ 4,371 $ (518) (10.6)% $ 4,889
Annuities revenue 26,672 (1,544) (5.5) 28,216 (178) (0.6) 28,394
12b-1 fees 2,295 205 9.8 2,090 (74) (3.4) 2,164
Discount brokerage commissions and other 5,501 1,282 30.4 4,219 774 22.5 3,445
Total retail investment sales 39,690 794 2.0 38,896 4 0.0 38,892
Investment banking fees — — N.M. — — N.M. —
Insurance fees and revenue 11,833 (3,515) (22.9) 15,348 3,149 25.8 12,199
Total Brokerage and Insurance Income 51,523 (2,721) (5.0) 54,244 3,153 6.2 51,091
Fee sharing 15,135 (2,100) (12.2) 17,235 5,947 52.7 11,288
Total Brokerage and Insurance Income
(net of fee sharing) $ 36,388 $ (621) (1.7)% $ 37,009 $ (2,794) (7.0)% $ 39,803
Mutual fund sales volume (in thousands) $169,600 (43,319) (20.3)% $212,919 47,856 29.0% $165,063
Annuities sales volume (in thousands) 537,672 (39,891) (6.9) 577,563 (6,096) (1.0) 583,659
Trust Services Income (in thousands)
Personal trust revenue $ 33,587 $ 3,069 10.1% $ 30,518 $ 542 1.8% $ 29,976
Huntington funds revenue 21,478 2,278 11.9 19,200 (661) (3.3) 19,861
Institutional trust revenue 8,692 962 12.4 7,730 102 1.3 7,628
Corporate trust revenue 3,568 (518) (12.7) 4,086 (3) (0.1) 4,089
Other trust revenue — — N.M. — — N.M. —
Total Trust Services Income 67,325 5,791 9.4 61,534 (20) 0.0 61,554
Fee sharing 920 54 6.2 866 (72) (7.7) 938
Total Trust Services Income (net of fee sharing) $ 66,405 $ 5,737 9.5% $ 60,668 $ 52 0.1% $ 60,616
Assets Under Management (eop) (in billions)
Personal trust $ 5.3 $ 0.4 8.2% $ 4.9 $ 0.3 6.5% $ 4.6
Huntington funds 3.1 0.2 6.9 2.9 0.2 8.6 2.7
Institutional trust 0.8 0.2 33.3 0.6 0.1 20.0 0.5
Corporate trust ——— — (0.2) (100.0) 0.2
Haberer 0.6 0.1 11.1 0.5 0.0 8.0 0.5
Other ——— ——— —
Total Assets Under Management $ 9.8 $ 0.9 10.1% $ 8.9 $ 0.4 5.9% $ 8.5
Total Trust Assets (eop) (in billions)
Personal trust $ 8.9 $ 0.6 7.2% $ 8.3 $ 0.7 9.4% $ 7.6
Huntington funds 3.1 0.2 6.9 2.9 0.2 8.6 2.7
Institutional trust 27.1 4.0 17.3 23.1 9.9 75.3 13.2
Corporate trust 3.7 0.5 15.6 3.2 0.7 27.5 2.5
Total Trust Assets $ 42.8 $ 5.3 14.1% $ 37.5 $ 11.5 44.5% $ 26.0
Mutual Fund Data
# Huntington mutual funds (eop)(3) 29 5 24 — 24
Sales penetration(4) 5.3% (0.9)% 6.2% 0.3% 6.0%
Revenue penetration (whole dollars)(5) $ 3,215 $ (108) (3.3)% $ 3,323 $ 113 3.5% $ 3,210
Profit penetration (whole dollars)(6) 1,003 (197) (16.4) 1,200 92 8.3 1,108
Average sales per licensed banker (whole dollars) annualized 68,249 325 0.5 67,924 (10,953) (13.9) 78,877
Average revenue per licensed banker
(whole dollars) annualized 3,639 532 17.1 3,107 (471) (13.2) 3,578
N.M., not a meaningful value.
eop — end of period.
(1) Operating basis, see Lines of Business section for definition.
(3) Includes variable annuity funds.
(4) Sales (dollars invested) of mutual funds and annuities divided by bank’s retail deposits.
(5) Investment program revenue per million of the bank’s retail deposits.
(6) Contribution of investment program to pretax profit per million of the bank’s retail deposits. Contribution is difference between program revenue and program expenses.
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