Huntington National Bank 2011 Annual Report Download - page 54

The following table reflects noninterest income for the past three years:
Table 8 — Noninterest Income
Twelve Months Ended December 31,
Change from 2010 Change from 2009
2011 Amount Percent 2010 Amount Percent 2009
(dollar amounts in thousands)
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 N.R. (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 N.R. (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
N.R. — Not relevant, as denominator of calculation is a loss in prior period compared with income in current
period.
2011 vs. 2010
Noninterest income decreased $61.2 million, or 6%, from the prior year, primarily reflecting:
• $92.4 million, or 53%, decrease in mortgage banking income. This primarily reflected a $52.8 million
decrease in net MSR activity and a $49.2 million, or 42%, decrease in origination and secondary marketing
income, as originations decreased 28% from the prior year.
• $23.5 million, or 9%, decrease in service charges on deposit accounts, reflecting lower personal service
charges due to the implementation of the amendment to Reg E and our “Fair Play” consumer banking
initiatives.
• $19.2 million, or 42%, decrease in automobile operating lease income reflecting the impact of a declining
portfolio as a result of having exited that business in 2008.
Partially offset by:
• $25.7 million, or 409%, increase in gain on sale of loans primarily due to a $15.5 million automobile loan
securitization gain on sale in the 2011 third quarter and SBA-related loan fees and gain on loan sales
increased by $10.2 million in 2011.
• $24.8 million, or 26%, increase in other income, of which $12.1 million was associated with the sale of
interest rate protection products and mezzanine gains and a $6.7 million reimbursement from the conversion
to a new debit card processor, offset by a $6.4 million Visa®-related derivative loss.
• $12.7 million, or 53%, increase in capital markets fees primarily due to increases in trading derivative
income.
• $11.5 million, or 17%, increase in brokerage income, primarily reflecting increased sales of investment
products.
40