Huntington National Bank 2012 Annual Report Download - page 111

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Huntington Bancshares Incorporated
Consolidated Statements of Income
Year Ended December 31,
(dollar amounts in thousands, except per share amounts) 2012 2011 2010
Interest and fee income:
Loans and leases $ 1,675,295 $ 1,727,784 $ 1,865,848
Available-for-sale and other securities
Taxable 184,340 207,984 239,065
Tax-exempt 8,999 9,785 11,680
Held-to-maturity securities 24,088 11,213 ---
Other 37,541 13,460 28,799
Total interest income 1,930,263 1,970,226 2,145,392
Interest expense
Deposits 162,167 260,052 439,050
Short-term borrowings 2,048 3,500 3,007
Federal Home Loan Bank advances 819 824 3,121
Subordinated notes and other long-term debt 54,705 76,680 81,409
Total interest expense 219,739 341,056 526,587
N
et interest income 1,710,524 1,629,170 1,618,805
Provision for credit losses 147,388 174,059 634,547
N
et interest income after provision for credit losses 1,563,136 1,455,111 984,258
Service charges on deposit accounts 262,179 243,507 267,015
Mortgage banking income 191,092 83,408 175,782
Trust services 121,897 119,382 112,555
Electronic banking 82,290 111,697 110,234
Brokerage income 72,226 80,367 68,855
Insurance income 71,319 69,470 76,413
Gain on sale of loans 58,182 31,944 6,275
Bank owned life insurance income 56,042 62,336 61,066
Capital markets fees 48,160 36,540 23,886
N
et gains on sales of securities 6,388 3,682 13,448
Impairment losses recognized in earnings on available-for-sale securities (a) (1,619) (7,363) (13,722)
Other income 129,701 145,653 140,051
Total noninterest income 1,097,857 980,623 1,041,858
Personnel costs 988,193 892,534 798,973
Outside data processing and other services 190,255 189,174 161,814
N
et occupancy 111,160 109,129 107,862
Equipment 102,947 92,544 85,920
Deposit and other insurance expense 68,330 77,692 97,548
Professional services 65,758 68,616 86,211
Marketing 64,263 65,560 56,347
Amortization of intangibles 46,549 53,318 60,478
OREO and foreclosure expense 18,271 18,006 39,049
Gain on early extinguishment of debt (798) (9,697) ---
Other expense 180,948 171,624 179,603
Total noninterest expense 1,835,876 1,728,500 1,673,805
Income before income taxes 825,117 707,234 352,311
Provision for income taxes 184,095 164,621 39,964
N
et income 641,022 542,613 312,347
Dividends on preferred shares 31,989 30,813 172,032
N
et income applicable to common shares $ 609,033 $ 511,800 $ 140,315
Average common shares - basic 857,962 863,691 726,934
Average common shares - diluted 863,402 867,624 729,532
Per common share:
N
et income - basic $ 0.71 $ 0.59 $ 0.19
N
et income - diluted 0.71 0.59 0.19
Cash dividends declared 0.16 0.10 0.04
(a) The following OTTI losses are included in securities losses for the periods presented:
Total OTTI losses $ (1,886)$ (8,791)$ (17,088)
N
oncredit-related portion of loss recognized in OCI 267 1,428 3,366
N
et impairment credit losses recognized in earnings $ (1,619)$ (7,363)$ (13,722)
See Notes to Consolidated Financial Statements