Huntington National Bank 2014 Annual Report Download - page 84
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Please find page 84 of the 2014 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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78
The increase in noninterest expense from the year-ago period reflected:
x $9.3 million, or 10%, increase in other noninterest expense, primarily due to a $12.5 million increase in allocated expenses,
generally reflecting higher levels of business activity.
Partially offset by:
x $4.2 million, or 33%, decrease in deposit and other insurance expense.
x $2.8 million, or 9%, decrease in personnel costs, primarily due to staffing associated with the asset based lending portfolio
which was transferred to the Commercial Banking segment retroactive to the beginning of 2014.
x $1.5 million, or 29%, decrease in professional services, primarily due to costs associated with the asset based lending
portfolio in 2013.
2013 vs. 2012
AFCRE reported net income of $220.4 million in 2013, compared with a net income of $205.9 million in 2012. The $14.5 million
increase included a $65.7 million, or 397%, increase in the reduction in allowance for credit losses, a $4.0 million, or 2%, decrease in
noninterest expense partially offset by a $44.5 million, or 49%, decrease in noninterest income, and a $2.9 million, or less than 1%,
decrease in net interest income.