Huntington National Bank 2005 Annual Report Download - page 61

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MANAGEMENT’S DISCUSSION AND ANALYSIS HUNTINGTON BANCSHARES INCORPORATED
Table 17 — Summary of Allowances for Credit Losses and Related Statistics
Year Ended December 31,
(in thousands of dollars) 2005 2004 2003 2002 2001
Allowance for loan and lease losses, beginning of year $ 271,211 $ 299,732 $ 300,503 $ 345,402 $ 246,758
Loan and lease charge-offs
Commercial:
Middle market commercial and industrial (22,247) (21,095) (86,217) (112,430) (48,788)
Construction (534) (2,477) (3,092) (4,343) (824)
Commercial (4,311) (5,650) (6,763) (13,383) (1,959)
Middle market commercial real estate (4,845) (8,127) (9,855) (17,726) (2,783)
Small business commercial and industrial and commercial real estate (16,707) (10,270) (16,311) (18,587) (18,693)
Total commercial (43,799) (39,492) (112,383) (148,743) (70,264)
Consumer:
Automobile loans (25,780) (45,335) (57,890) (57,675) (72,054)
Automobile leases (12,966) (11,690) (5,632) (1,335) 416
Automobile loans and leases (38,746) (57,025) (63,522) (59,010) (71,638)
Home equity (20,129) (17,514) (14,166) (13,395) (13,201)
Residential mortgage (2,561) (1,975) (915) (888) (879)
Other loans (10,613) (10,109) (10,548) (12,316) (18,558)
Total consumer (72,049) (86,623) (89,151) (85,609) (104,276)
Total charge-offs (115,848) (126,115) (201,534) (234,352) (174,540)
Recoveries of loan and lease charge-offs
Commercial:
Middle market commercial and industrial $ 8,669 $ 19,175 $ 10,414 $ 7,727 $ 3,450
Construction 399 12 164 127 35
Commercial 401 144 1,744 1,415 539
Middle market commercial real estate 800 156 1,908 1,542 574
Small business commercial and industrial and commercial real estate 4,756 4,704 4,686 4,071 2,943
Total commercial 14,225 24,035 17,008 13,340 6,967
Consumer:
Automobile loans 13,792 16,761 17,603 18,559 16,630
Automobile leases 1,302 853 (75) (95) (63)
Automobile loans and leases 15,094 17,614 17,528 18,464 16,567
Home equity 2,510 2,440 2,052 1,555 1,743
Residential mortgage 229 215 83 16 94
Other loans 3,733 3,276 3,054 4,065 2,900
Total consumer 21,566 23,545 22,717 24,100 21,304
Total recoveries 35,791 47,580 39,725 37,440 28,271
Net loan and lease charge-offs (80,057) (78,535) (161,809) (196,912) (146,269)
Provision for loan and lease losses 83,782 57,397 164,616 182,211 251,567
Economic reserve transfer (6,253) ————
Allowance for assets sold and securitized (336) (7,383) (3,578) (30,198) (6,654)
Allowance for loan and lease losses, end of year $ 268,347 $ 271,211 $ 299,732 $ 300,503 $ 345,402
Allowance for unfunded loan commitments and letters of credit,
beginning of year $ 33,187 $ 35,522 $ 36,145 $ 23,930 $ 18,171
Provision for unfunded loan commitments and letters of credit losses (2,483) (2,335) (623) 12,215 5,759
Economic reserve transfer 6,253 ————
Allowance for unfunded loan commitments and letters of credit,
end of year 36,957 33,187 35,522 36,145 23,930
Allowance for credit losses, end of year $ 305,304 $ 304,398 $ 335,254 $ 336,648 $ 369,332
Net loan and lease losses as a % of average total loans and leases 0.33% 0.35% 0.81% 1.13% 0.81%
Allowance for credit losses as a % of total period end loans and leases 1.25 1.29 1.59 1.81 2.00
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