Huntington National Bank 2012 Annual Report Download - page 86
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78
x$0.2 billion, or 3%, decrease in money market deposits.
Partially offset by:
x$0.9 billion, or 23%, increase in noninterest-bearing demand deposits.
x$0.2 billion, or 4%, increase in savings and other domestic deposits.
The increase in the provision for credit losses from the year-ago period reflected:
x$16.0 million, or 13%, increase in provision for credit losses related to our residential mortgage and home equity junior-lien
loan portfolio.
The decrease in noninterest income from the year-ago period reflected:
x$28.8 million, or 26%, decrease in electronic banking income, reflected the impact of the Durbin Amendment of the Dodd-
Frank Act on debit card interchange income.
x$16.3 million, or 39%, decrease in other income, as the prior period reflected an increased value in a loan servicing asset.
Partially offset by:
x$19.9 million, or 11%, increase in deposit service charge income due to strong household and checking account growth.
x$8.0 million, or 37%, increase in mortgage banking due to higher loan originations.
The increase in noninterest expense from the year-ago period reflected:
x$28.6 million, or 10%, increase in personnel costs primarily due to the addition of 39 Giant Eagle and 21 Meijer in-store
branches.
x$66.6 million, or 23%, increase in allocated costs.
Partially offset by:
x$48.5 million decrease in FDIC insurance expense.
x$18.3 million decrease in outside processing expense.
2011 vs. 2010
Retail and Business Banking reported net income of $175.4 million in 2011, compared with a net income of $131.0 million in
2010. The $44.4 million increase included a $65.3 million, or 8%, increase in net interest income and a $38.0 million, or 24%,
decrease in the provision for credit losses, partially offset by a $45.6 million, or 5%, increase in noninterest expense.