Huntington National Bank 2011 Annual Report Download - page 49
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The following table shows changes in fully-taxable equivalent interest income, interest expense, and net
interest income due to volume and rate variances for major categories of earning assets and interest-bearing
liabilities.
Table 5 — Change in Net Interest Income Due to Changes in Average Volume and Interest Rates (1)
2011 2010
Increase (Decrease) From
Previous Year Due To
Increase (Decrease) From
Previous Year Due To
Fully-taxable equivalent basis(2) Volume
Yield/
Rate Total Volume
Yield/
Rate Total
(dollar amounts in millions)
Loans and direct financing leases .............. $ 77.5 $(213.1) $(135.6) $(71.3) $ (9.6) $ (80.9)
Investment securities ........................ 0.1 (31.7) (31.6) 96.8 (103.2) (6.4)
Other earning assets ......................... (16.7) 12.5 (4.2) (3.8) (2.2) (6.0)
Total interest income from earning assets ........ 60.9 (232.3) (171.4) 21.7 (115.0) (93.3)
Deposits .................................. (4.2) (174.9) (179.1) 10.9 (246.0) (235.1)
Short-term borrowings ....................... 1.1 (0.6) 0.5 1.1 (0.5) 0.6
Federal Home Loan Bank advances ............ (0.9) (1.4) (2.3) (15.4) 5.6 (9.8)
Subordinated notes and other long-term debt,
including capital securities ................. (14.1) 9.4 (4.7) (14.3) (28.8) (43.1)
Total interest expense of interest-bearing
liabilities .................................. (18.1) (167.5) (185.6) (17.7) (269.7) (287.4)
Net interest income .......................... $ 79.0 $ (64.8) $ 14.2 $ 39.4 $ 154.7 $ 194.1
(1) The change in interest rates due to both rate and volume has been allocated between the factors in
proportion to the relationship of the absolute dollar amounts of the change in each.
(2) Calculated assuming a 35% tax rate.
35