Huntington National Bank 2011 Annual Report Download - page 111

Partially offset by:
• $17.0 million, or 46%, decrease in operating lease expense resulting from the continued runoff of that
portfolio.
2010 vs. 2009
AFCRE reported net income of $46.5 million in 2010, compared with a net loss of $588.2 million in 2009.
The $634.6 million increase included a $60.9 million, or 22%, increase in net interest income and a $911.3
million, or 83%, decline in the provision for credit losses, partially offset by a $5.8 million, or 4%, increase in
noninterest expense.
Wealth Advisors, Government Finance, and Home Lending
Table 45 — Key Performance Indicators for Wealth Advisors, Government Finance, and Home Lending
Change from 2010
2011 2010 Amount Percent 2009
(dollar amounts in thousands unless otherwise noted)
Net interest income .............................. $199,536 $169,201 $ 30,335 18% $164,335
Provision for credit losses ......................... 51,967 95,586 (43,619) (46) 128,551
Noninterest income .............................. 248,764 338,633 (89,869) (27) 267,695
Noninterest expense ............................. 356,513 358,707 (2,194) (1) 300,799
Provision for income taxes ........................ 13,937 18,740 (4,803) (26) 937
Net income ..................................... $ 25,883 $ 34,801 $ (8,918) (26)% $ 1,743
Number of employees (full-time equivalent) .......... 2,041 2,211 (170) (8)% 1,963
Total average assets (in millions) ................... $ 6,778 $ 6,317 $ 461 7 $ 6,164
Total average loans/leases (in millions) .............. 5,437 4,829 608 13 4,725
Total average deposits (in millions) ................. 8,134 6,990 1,144 16 5,855
Net interest margin .............................. 2.16% 2.23% (0.07)% (3) 2.69%
NCOs ......................................... $ 57,485 $ 79,647 $(22,162) (28) $102,264
NCOs as a % of average loans and leases ............. 1.06% 1.65% (0.59)% (36) 2.16%
Return on average common equity .................. 3.8 5.7 (1.9) (33) 0.4
Mortgage banking origination volume (in millions) ..... $ 3,921 $ 5,476 $ (1,555) (28) $ 5,262
Noninterest income shared with other business
segments(1) .................................. 42,761 43,779 (1,018) (2) 39,994
Total assets under management (in billions)- eop ....... 14.6 14.4 0.2 1 13.0
Total trust assets (in billions)- eop .................. 59.3 60.3 (1.0) (2) 49.4
eop — End of Period.
(1) Amount is not included in noninterest income reported above.
2011 vs. 2010
WGH reported net income of $25.9 million in 2011. This was a decrease of $8.9 million, or 26%, when
compared to 2010.
Results for the current year were impacted by a decrease in mortgage banking revenue, which reflected a
decline in originations and the negative impact of net MSR activity. The other businesses within the WGH
segment experienced significant growth, with increased revenues in 2011 when compared to 2010. As a result of
improved credit quality in the portfolio, NCO activity decreased in 2011. A focus on structured investment sales,
increased brokerage commissions and, despite market value declines in assets under management in the third
quarter of 2011, trust income increased in 2011.
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