Huntington National Bank 2014 Annual Report Download - page 92
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86
Noninterest Expense
Table 45 - Noninterest Expense - 2014 Fourth Quarter vs. 2013 Fourth Quarter
Fourth Quarter Change
(dollar amounts in thousands) 2014 2013 Amount Percent
Personnel costs $ 263,289 $ 249,554 $13,735 6 %
Outside data processing and other services 53,685 51,071 2,614 5
N
et occupancy 31,565 31,983 (418) (1)
Equipment 31,981 28,775 3,206 11
Professional services 15,665 11,567 4,098 35
Marketing 12,466 13,704 (1,238) (9)
Deposit and other insurance expense 13,099 10,056 3,043 30
Amortization of intangibles 10,653 10,320 333 3
Other expense 50,868 38,979 11,889 31
Total noninterest expense $ 483,271 $ 446,009 $ 37,262 8 %
N
umber of employees (average full-time equivalent) 11,875 11,765 110 1 %
Impacts of Significant Items: Fourth Quarter
(dollar amounts in thousands) 2014 2013
Personnel costs $2,165 $ 52
Outside data processing and other services 306 880
N
et occupancy 4,150 4,178
Equipment 2,003 846
Marketing 14 ---
Other expense 11,644 953
Total noninterest expense adjustments $ 20,282 $ 6,909
Fourth Quarter Change
(dollar amounts in thousands) 2014 2013 Amount Percent
Personnel costs $ 261,124 $ 249,502 $11,622 5 %
Outside data processing and other services 53,379 50,191 3,188 6
N
et occupancy 27,415 27,805 (390) (1)
Equipment 29,978 27,929 2,049 7
Professional services 15,665 11,567 4,098 35
Marketing 12,452 13,704 (1,252) (9)
Deposit and other insurance expense 13,099 10,056 3,043 30
Amortization of intangibles 10,653 10,320 333 3
Other expense 39,224 38,026 1,198 3
Total adjusted noninterest expense $ 462,989 $ 439,100 $ 23,889 5 %
Reported noninterest expense for the 2014 fourth quarter increased $37.3 million, or 8%, from the year-ago quarter, primarily
reflecting:
x $13.7 million, or 6%, increase in personnel costs. Excluding the impact of Significant Items, personnel costs increased $11.6
million, or 5%, primarily related to a $9.0 million increase in salaries reflecting 1% increase in the number of full-time
equivalent employees and a $3.8 million increase in health insurance costs.
x $11.9 million, or 31%, increase in other expense. Excluding the impact of Significant Items, other expenses increased $1.2
million, or 3%.
x $4.1 million, or 35%, increase in professional services, reflecting an increase in outside consultant expenses and legal
services.