Huntington National Bank 2012 Annual Report Download - page 198
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190
24. PARENT COMPANY FINANCIAL STATEMENTS
The parent company condensed financial statements, which include transactions with subsidiaries, are as follows:
Balance Sheets December 31,
(dollar amounts in thousands) 2012 2011
Assets
Cash and cash equivalents (1) $ 921,471 $ 917,954
Due from The Huntington National Bank (2) 207,414 616,565
Due from non-bank subsidiaries 78,006 188,732
Investment in The Huntington National Bank 4,754,886 4,073,722
Investment in non-bank subsidiaries 774,055 759,532
Accrued interest receivable and other assets 131,358 139,076
Total assets $ 6,867,190 $ 6,695,581
Liabilities and shareholders' equity
Long-term borrowings $ 662,894 $ 899,779
Dividends payable, accrued expenses, and other liabilities 414,085 377,702
Total liabilities 1,076,979 1,277,481
Shareholders' equity (3) 5,790,211 5,418,100
Total liabilities and shareholders' equity $ 6,867,190 $ 6,695,581
(1) Includes restricted cash of $125,000 at December 31, 2011.
(2) Related to subordinated notes described in Note 12.
(3) See Consolidated Statements of Changes in Shareholders’ Equity.
Statements of Income Year Ended December 31,
(dollar amounts in thousands) 2012 2011 2010
Income
Dividends from
N
on-bank subsidiaries $ 36,450 $ 68,491 $ 33,000
Interest from
The Huntington National Bank 38,617 80,024 82,749
N
on-bank subsidiaries 5,420 8,741 12,185
Other 1,409 1,231 2,987
Total income 81,896 158,487 130,921
Expense
Personnel costs 42,745 37,630 30,334
Interest on borrowings 28,926 35,295 23,765
Other 35,415 37,122 49,019
Total expense 107,086 110,047 103,118
Income (loss) before income taxes and equity in undistributed net income of subsidiaries (25,190) 48,440 27,803
Provision (benefit) for income taxes (30,761) (10,707) 48,505
Income (loss) before equity in undistributed net income of subsidiaries 5,571 59,147 (20,702)
Increase (decrease) in undistributed net income (loss) of:
The Huntington National Bank 645,151 527,418 344,961
N
on-bank subsidiaries (9,700) (43,952) (11,912)
N
et income $ 641,022 $ 542,613 $ 312,347
Other comprehensive income (loss) (1) 22,946 23,733 (36,262)
Comprehensive income $ 663,968 $ 566,346 $ 276,085
(1) See Consolidated Statements of Comprehensive Income for other comprehensive income(loss) detail.