Huntington National Bank 2012 Annual Report Download - page 197
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Please find page 197 of the 2012 Huntington National Bank annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
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189
Under current Federal Reserve regulations, the Bank is limited as to the amount and type of loans it may make to the parent
company and nonbank subsidiaries. At December 31, 2012, the Bank could lend $609.4 million to a single affiliate, subject to the
qualifying collateral requirements defined in the regulations.
Dividends from the Bank are one of the major sources of funds for the Company. These funds aid the Company in the payment of
dividends to shareholders, expenses, and other obligations. Payment of dividends to the parent company is subject to various legal and
regulatory limitations. Regulatory approval is required prior to the declaration of any dividends in excess of undivided profits or if the
total of all dividends declared in a calendar year would exceed the total of net income for the current year combined with retained net
income for the preceding two years, less any required transfers to surplus or common stock. At December 31, 2012, the Bank could
not have declared and paid additional dividends to the Company without regulatory approval due to the deficit position of the Bank’s
undivided profits.