Huntington National Bank 2011 Annual Report Download - page 43

Table 2 — Selected Annual Income Statements (1)
Year Ended December 31,
Change from 2010 Change from 2009
2011 Amount Percent 2010 Amount Percent 2009
(dollar amounts in thousands, except per
share amounts)
Interest income ....................... $1,970,226 $(175,166) (8)% $2,145,392 $ (92,750) (4)% $ 2,238,142
Interest expense ...................... 341,056 (185,531) (35) 526,587 (287,268) (35) 813,855
Net interest income ................... 1,629,170 10,365 1 1,618,805 194,518 14 1,424,287
Provision for credit losses .............. 174,059 (460,488) (73) 634,547 (1,440,124) (69) 2,074,671
Net interest income after provision for
credit losses ......................... 1,455,111 470,853 48 984,258 1,634,642 N.R. (650,384)
Service charges on deposit accounts ...... 243,507 (23,508) (9) 267,015 (35,784) (12) 302,799
Trust services ........................ 119,382 6,827 6 112,555 8,916 9 103,639
Electronic banking .................... 111,697 1,463 1 110,234 10,083 10 100,151
Mortgage banking income .............. 83,408 (92,374) (53) 175,782 63,484 57 112,298
Brokerage income .................... 80,367 11,512 17 68,855 4,012 6 64,843
Insurance income ..................... 69,470 (6,943) (9) 76,413 3,087 4 73,326
Bank owned life insurance income ....... 62,336 1,270 2 61,066 6,194 11 54,872
Capital markets fees ................... 36,540 12,654 53 23,886 13,035 120 10,851
Gain (loss) on sale of loans ............. 31,944 25,669 409 6,275 13,851 (183) (7,576)
Automobile operating lease income ...... 26,771 (19,193) (42) 45,964 (5,846) (11) 51,810
Securities gains (losses) ................ (3,681) (3,407) 1,243 (274) 9,975 (97) (10,249)
Other income ........................ 118,882 24,795 26 94,087 (54,793) (37) 148,880
Total noninterest income ................ 980,623 (61,235) (6) 1,041,858 36,214 4 1,005,644
Personnel costs ....................... 892,534 93,561 12 798,973 98,491 14 700,482
Outside data processing and other
services ........................... 187,195 27,947 18 159,248 11,153 8 148,095
Net occupancy ....................... 109,129 1,267 1 107,862 2,589 2 105,273
Equipment .......................... 92,544 6,624 8 85,920 2,803 3 83,117
Deposit and other insurance expense ...... 77,692 (19,856) (20) 97,548 (16,282) (14) 113,830
Marketing ........................... 75,627 9,703 15 65,924 32,875 99 33,049
Professional services .................. 70,595 (18,183) (20) 88,778 12,412 16 76,366
Amortization of intangibles ............. 53,318 (7,160) (12) 60,478 (7,829) (11) 68,307
Automobile operating lease expense ...... 20,018 (17,016) (46) 37,034 (6,326) (15) 43,360
OREO and foreclosure expense .......... 18,006 (21,043) (54) 39,049 (54,850) (58) 93,899
Goodwill impairment .................. —— — — (2,606,944) (100) 2,606,944
Gain on early extinguishment of debt ..... (9,697) (9,697) — — 147,442 (100) (147,442)
Other expense ....................... 141,539 8,548 6 132,991 24,828 23 108,163
Total noninterest expense ............... 1,728,500 54,695 3 1,673,805 (2,359,638) (59) 4,033,443
Income (loss) before income taxes ......... 707,234 354,923 101 352,311 4,030,494 N.R. (3,678,183)
Provision (benefit) for income taxes ........ 164,621 124,657 312 39,964 623,968 N.R. (584,004)
Net income (loss) ...................... 542,613 230,266 74 312,347 3,406,526 N.R. (3,094,179)
Dividends on preferred shares ............. 30,813 (141,219) (82) 172,032 (2,724) (2) 174,756
Net income (loss) applicable to common
shares ............................. $ 511,800 $ 371,485 265% $ 140,315 $ 3,409,250 N.R.% $(3,268,935)
Average common shares — basic .......... 863,691 136,757 19% 726,934 194,132 36% 532,802
Average common shares — diluted(2) ....... 867,624 138,092 19 729,532 196,730 37 532,802
Per common share:
Net income — basic ..................... $ 0.59 $ 0.40 211% $ 0.19 $ 6.33 N.R.% $ (6.14)
Net income — diluted ................... 0.59 0.40 211 0.19 6.33 N.R. (6.14)
Cash dividends declared .................. 0.10 0.06 150 0.04 — — 0.04
Revenue — FTE
Net interest income ................. $1,629,170 $ 10,365 1% $1,618,805 $ 194,518 14% $ 1,424,287
FTE adjustment .................... 14,916 3,839 35 11,077 (395) (3) 11,472
Net interest income(3) ................... 1,644,086 14,204 1 1,629,882 194,123 14 1,435,759
Noninterest income ..................... 980,623 (61,235) (6) 1,041,858 36,214 4 1,005,644
Total revenue(3) ....................... $2,624,709 $ (47,031) (2)% $2,671,740 $ 230,337 9% $ 2,441,403
N.R. — Not relevant, as denominator of calculation is a loss in prior period compared with income in current period.
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