Huntington National Bank 2003 Annual Report Download - page 123

Download and view the complete annual report

Please find page 123 of the 2003 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.

Page out of 146

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Listed below is certain operating basis financial information reconciled to Huntington’s 2003, 2002, and 2001 reported results by line
of business:
Income Statements
(in thousands of dollars)
Regional
Banking
Dealer
Sales PFG
Treasury/
Other
Huntington
Consolidated
2003
Net interest income $ 605,363 $ 107,190 $ 41,937 $ 94,496 $ 848,986
Provision for loan and lease losses (93,989) (59,469) (4,796) (5,739) (163,993)
Non-interest income 317,717 525,968 107,940 64,377 1,016,002
Non-interest expense (563,246) (481,353) (105,153) (71,823) (1,221,575)
Income taxes (93,046) (32,317) (13,975) 16,643 (122,695)
Operating Earnings 172,799 60,019 25,953 97,954 356,725
Restructuring releases — — — 4,333 4,333
Gain on sale of automobile loans — 13,493 — 12,532 26,025
Cumulative effect of change in
accounting principle — (10,888) — (2,442) (13,330)
Gain on sale of branch offices — — — 8,523 8,523
Long-term debt extinguishment — — — (9,913) (9,913)
Reported Earnings $ 172,799 $ 62,624 $ 25,953 $110,987 $ 372,363
2002
Net interest income $ 575,004 $ 5,344 $ 35,826 $123,676 $ 739,850
Provision for loan and lease losses (133,895) (46,335) (3,480) (5,530) (189,240)
Non-interest income 264,054 687,543 108,937 60,807 1,121,341
Non-interest expense (531,009) (609,833) (103,089) (61,033) (1,304,964)
Income taxes (60,954) (12,852) (13,368) (104) (87,278)
Operating Earnings 113,200 23,867 24,826 117,816 279,709
Restructuring charges — — (3,429) (28,403) (31,832)
Florida operations sold 1,270 790 1,428 (5,013) (1,525)
Gain on sale of Florida operations — — — 61,422 61,422
Merchant Services restructuring gain — — — 15,957 15,957
Reported Earnings $ 114,470 $ 24,657 $ 22,825 $161,779 $ 323,731
2001
Net interest income $ 597,062 $ (26,692) $ 36,604 $ 26,041 $ 633,015
Provision for loan and lease losses (161,883) (78,822) (460) (1,040) (242,205)
Non-interest income 257,835 712,452 86,735 65,928 1,122,950
Non-interest expense (497,781) (638,057) (93,771) (89,974) (1,319,583)
Income taxes (68,332) 10,892 (10,188) 74,232 6,604
Operating Earnings (loss) 126,901 (20,227) 18,920 75,187 200,781
Restructuring charges (5,948) (10,400) (2,990) (32,634) (51,972)
Florida operations sold 19,761 2,902 5,663 (42,339) (14,013)
Reported Earnings (loss) $ 140,714 $ (27,725) $ 21,593 $ 214 $ 134,796
Balance Sheets Assets At December 31, Deposits At December 31,
(in millions of dollars) 2003 2002 2001 2003 2002 2001
Regional Banking $ 14,933 $ 13,942 $ 12,846 $ 15,546 $ 15,299 $ 14,282
Dealer Sales 9,798 9,114 7,463 71 58 61
PFG 1,463 1,205 878 1,163 938 712
Treasury/Other 4,290 3,317 4,157 1,707 1,204 464
Subtotal 30,484 27,578 25,344 18,487 17,499 15,519
Florida — — 3,073 — — 4,668
Total $ 30,484 $ 27,578 $ 28,417 $ 18,487 $ 17,499 $ 20,187
HUNTINGTON BANCSHARES INCORPORATED 121