Huntington National Bank 2012 Annual Report Download - page 87
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79
Regional and Commercial Banking
Table 42 - Key Performance Indicators for Regional and Commercial Banking
Change from 2011
(dollar amounts in thousands unless otherwise noted) 2012 2011 Amount Percent 2010
N
et interest income $ 273,869 $ 244,392 $ 29,477 12 % $ 211,511
Provision for credit losses 10,689 11,013 (324) (3) 104,705
N
oninterest income 138,454 127,315 11,139 9 111,237
N
oninterest expense 203,000 191,701 11,299 6 158,871
Provision for income taxes 69,522 59,147 10,375 18 20,710
N
et income $ 129,112 $ 109,846 $ 19,266 18 % $ 38,462
N
umber of employees (full-time equivalent) 721 623 98 16 % 538
Total average assets (in millions) $ 10,961 $ 9,283 $ 1,678 18 $ 8,213
Total average loans/leases (in millions) 10,076 8,326 1,750 21 7,414
Total average deposits (in millions) 5,324 3,882 1,442 37 3,174
N
et interest margin 2.80 % 2.95 % (0.15)% (5) 2.85 %
N
COs $ 35,217 $ 39,568 $ (4,351) (11) $ 66,267
N
COs as a % of average loans and leases 0.35 % 0.48 % (0.13)% (27) 0.89 %
Return on average common equity 14.8 15.1 (0.3) (2) 5.8
2012 vs. 2011
Regional and Commercial Banking reported net income of $129.1 million in 2012. This was an increase of $19.3 million, or
18%, compared to 2011. The increase in net income reflected a combination of factors including:
x$29.5 million, or 12%, increase in net interest income.
x$11.1 million, or 9%, increase in noninterest income.
x$0.3 million, or 3%, decrease in the provision for credit losses.
Partially offset by:
x$11.3 million, or 6%, increase in noninterest expense, due to our strategic initiatives investments.
The increase in net interest income from the year-ago period reflected:
x$1.8 billion, or 21%, increase in total average loans.
x$1.4 billion, or 37%, increase in average total deposits.
Partially offset by:
x15 basis point decline in net interest margin mainly due to compressed deposit margins resulting for declining rates and
reduced FTP rates.
The increase in total average loans and leases from the year-ago period reflected:
x$0.8 billion, or 60%, increase in the large corporate portfolio average balance due to establishing relationships with targeted
prospects within our footprint.
x$0.8 billion, or 69%, increase in the equipment finance portfolio average balance, which reflected our focus on developing
vertical strategies in business aircraft, rail industry, lender finance and syndications, as well as the purchase of a portfolio of
municipal leases in March 2012.