Huntington National Bank 2012 Annual Report Download - page 157
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149
Servicing income, net of amortization of capitalized servicing assets, amounted to $8.7 million, $2.0 million, and $2.5 million for
the years ended December 31, 2012, 2011, and 2010, respectively. The unpaid principal balance of automobile loans serviced for
third parties was $2.5 billion, $0.9 billion, and $0.1 billion at December 31, 2012, 2011, and 2010, respectively.
7. GOODWILL AND OTHER INTANGIBLE ASSETS
Business segments are based on segment leadership structure, which reflects how segment performance is monitored and
assessed. No segments were significantly changed and no reallocation of goodwill occurred in either 2012 or 2011.
A rollforward of goodwill by business segment for the years ended December 31, 2012 and 2011, is presented in the table below:
Retail &
Regional
&
Business Commercial Treasury/ Huntington
(dollar amounts in thousands) Banking Banking AFCRE WGH Other Consolidated
Balance, January 1, 2011 $ 286,824 $ 16,169 $ --- $ 98,951 $ 42,324 $ 444,268
Adjustments / Reallocation of goodwill --- --- --- --- --- ---
Balance, December 31, 2011 286,824 16,169 --- 98,951 42,324 444,268
Adjustments / Reallocation of goodwill --- --- --- --- --- ---
Balance, December 31, 2012 $ 286,824 $ 16,169 $ --- $ 98,951 $ 42,324 $ 444,268
Goodwill is not amortized but is evaluated for impairment on an annual basis as of October 1st each year or whenever events or
changes in circumstances indicate that the carrying value may not be recoverable. No impairment was recorded in either 2012 or
2011.
At December 31, 2012 and 2011, Huntington’s other intangible assets consisted of the following:
Gross Net
Carrying Accumulated Carrying
(dollar amounts in thousands) Amount Amortization Value
December 31, 2012
Core deposit intangible $ 380,249 (1) $ (302,003) $ 78,246
Customer relationship 104,574 (50,925) 53,649
Other 25,164 (24,902) 262
Total other intangible assets $ 509,987 $ (377,830) $ 132,157
December 31, 2011
Core deposit intangible $ 376,846 $ (263,410) $ 113,436
Customer relationship 104,574 (43,052) 61,522
Other 25,164 (24,820) 344
Total other intangible assets $ 506,584 $ (331,282) $ 175,302
(1)Includes $3,403 thousand related to the FDIC-assisted acquisition of Fidelity Bank on March 30, 2012.
The estimated amortization expense of other intangible assets for the next five years is as follows:
Amortization
(dollar amounts in thousands) Expense
2013 $ 41,083
2014 36,368
2015 20,207
2016 6,993
2017 6,511