Huntington National Bank 2012 Annual Report Download - page 95
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87
Noninterest Income
(This section should be read in conjunction with Significant Item 4.)
Noninterest income increased $68.3 million, or 30%, from the year-ago quarter.
Table 48 - Noninterest Income - 2012 Fourth Quarter vs. 2011 Fourth Quarter
Fourth Quarter Change
(dollar amounts in thousands) 2012 2011 Amount Percent
Service charges on deposit accounts $ 68,083 $ 63,324 $ 4,759 8 %
Mortgage banking income 61,711 24,098 37,613 156
Trust services 31,388 28,775 2,613 9
Electronic banking 21,011 18,282 2,729 15
Brokerage income 17,415 18,688 (1,273) (7)
Insurance income 17,268 17,906 (638) (4)
Gain on sale of loans 20,690 2,884 17,806 617
Bank owned life insurance income 13,767 14,271 (504) (4)
Capital markets fees 12,918 9,811 3,107 32
Securities gains (losses) 863 (3,878) 4,741 N.R.
Other income 32,537 35,191 (2,654) (8)
Total noninterest income $ 297,651 $ 229,352 $ 68,299 30 %
The $68.3 million increase reflected:
x$37.6 million, or 156%, increase in mortgage banking income. This primarily reflected a $23.2 million increase in origination
and secondary marketing income. Also impacting the year-over-year comparison was a $10.0 million net MSR hedging gain
in the current quarter compared to a net MSR hedging loss of $4.0 million in the year-ago quarter.
x$17.8 million, or 617%, increase in gain on sale of loans including a $17.3 million automobile loan securitization gain.
x$4.8 million, or 8%, increase in service charges on deposits due to continued strong customer growth.
x$4.7 million increase in securities gains.
x$3.1 million, or 32%, increase in capital market fees.