Huntington National Bank 2005 Annual Report Download - page 81
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MANAGEMENT’S DISCUSSION AND ANALYSIS HUNTINGTON BANCSHARES INCORPORATED
2004 versus 2003 Performance
Dealer Sales contributed $65.6 million, or 17%, of our net operating earnings for 2004, up $3.9 million, or 6%, from 2003. The
improved performance primarily reflected improved credit quality, as the provision for credit losses fell $11.9 million. While
revenue fell $163.2 million, or 26%, this decrease was largely caused by the run-off of the operating leases, which was also
reflected in the $158.2 million decline in operating lease expenses. Dealer Sales ROA was 1.01%, up from 0.83% in 2003 with a
ROE of 16.1%, up from 14.0% in 2003.
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