Huntington National Bank 2011 Annual Report Download - page 51

Table 7 — Consolidated Average Balance Sheet and Net Interest Margin Analysis (Continued)
Interest Income / Expense Average Rate(2)
Fully-taxable equivalent basis(1) 2011 2010 2009 2011 2010 2009
(dollar amounts in millions)
ASSETS
Interest-bearing deposits in banks ..................................... $ 0.1 $ 0.8 $ 1.1 0.11% 0.28% 0.32%
Trading account securities ........................................... 1.5 2.9 4.3 1.37 1.82 2.99
Federal funds sold and securities purchased under resale agreement .......... —— 0.1 0.09 — 0.13
Loans held for sale ................................................. 12.3 25.7 30.0 4.27 4.85 5.15
Available-for-sale and other securities:
Taxable ........................................................ 208.0 239.1 250.0 2.48 2.73 4.10
Tax-exempt .................................................... 18.3 18.8 14.2 4.28 4.56 6.68
Total available-for-sale and other securities ............................. 226.3 257.9 264.2 2.57 2.81 4.18
Held-to-maturity securities — taxable .................................. 11.2 ——2.99 ——
Loans and leases: (3)
Commercial:
Commercial and industrial ..................................... 585.6 660.6 664.6 4.31 5.31 5.06
Commercial real estate:
Construction .............................................. 23.0 30.6 50.8 3.88 2.79 2.74
Commercial .............................................. 222.7 234.9 262.3 3.97 3.83 3.59
Commercial real estate ........................................ 245.7 265.5 313.1 3.96 3.67 3.42
Total commercial .............................................. 831.3 926.1 977.7 4.20 4.71 4.39
Consumer:
Automobile loans and leases ................................... 293.2 295.2 252.6 4.99 6.04 7.12
Home equity ................................................ 355.0 383.7 426.2 4.47 5.06 5.62
Residential mortgage ......................................... 213.6 216.8 237.4 4.53 4.84 5.23
Other consumer ............................................. 40.6 47.5 56.1 7.63 7.18 7.78
Total consumer ................................................ 902.4 943.2 972.3 4.73 5.35 5.93
Total loans and leases ............................................ 1,733.7 1,869.3 1,950.0 4.46 5.02 5.04
Total earning assets .............................................. $1,985.1 $2,156.6 $2,249.7 4.09% 4.55% 4.88%
LIABILITIES AND SHAREHOLDERS’ EQUITY
Deposits:
Demand deposits — noninterest-bearing ............................ $—$—$— —% —% —%
Demand deposits — interest-bearing ............................... 5.1 10.4 9.5 0.09 0.19 0.20
Money market deposits ......................................... 54.4 103.5 83.6 0.41 — 1.16
Savings and other domestic deposits ............................... 32.7 48.2 66.8 0.69 1.04 1.37
Core certificates of deposit ...................................... 150.0 231.6 409.4 1.95 2.52 3.43
Total core deposits ............................................... 242.2 393.7 569.3 0.77 1.26 1.97
Other domestic time deposits of $250,000 or more ...................... 4.5 9.3 20.8 0.97 1.32 2.48
Brokered time deposits and negotiable CDs ........................... 12.5 35.4 83.1 0.88 2.21 2.64
Deposits in foreign offices ......................................... 0.9 0.8 0.9 0.23 0.20 0.19
Total deposits ..................................................... 260.1 439.2 674.1 0.78 1.30 2.02
Short-term borrowings .............................................. 3.5 3.0 2.4 0.17 0.21 0.25
Federal Home Loan Bank advances ................................... 0.8 3.1 12.9 0.74 1.80 1.04
Subordinated notes and other long-term debt ............................ 76.7 81.4 124.5 2.42 2.15 2.88
Total interest-bearing liabilities ..................................... 341.1 526.7 813.9 0.88 1.34 2.04
Net interest income ................................................ $1,644.1 $1,629.9 $1,435.8
Net interest rate spread ............................................ 3.19 3.21 2.84
Impact of noninterest-bearing funds on margin ......................... 0.20 0.23 0.27
Net Interest Margin ............................................... 3.38% 3.44% 3.11%
(1) FTE yields are calculated assuming a 35% tax rate.
(2) Loan and lease and deposit average rates include impact of applicable derivatives, non-deferrable fees, and
amortized fees.
(3) For purposes of this analysis, nonaccrual loans are reflected in the average balances of loans.
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