Huntington National Bank 2003 Annual Report Download - page 142
Download and view the complete annual report
Please find page 142 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.-
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
31. Quarterly Results of Operations (Unaudited)
The following is a summary of the unaudited quarterly results of operations, as restated, for the years ended December 31, 2003 and
2002:
(in thousands of dollars, except per share data) Fourth Third Second First
2003
Interest income $335,097 $333,320 $317,325 $320,014
Interest expense 110,782 112,849 114,884 118,255
Net Interest Income 224,315 220,471 202,441 201,759
Provision for loan and lease losses 26,341 51,615 49,193 36,844
Gain on sale of automobile loans 16,288 — 13,496 10,255
Gain on sale of branch offices — 13,112 — —
Securities gains (losses) 1,280 (4,107) 6,887 1,198
Non-interest income 228,942 263,763 256,568 261,471
Loss on early extinguishment of debt 15,250 — — —
Restructure releases (351) — (5,315) (1,000)
Non-interest expense 302,566 300,182 302,348 316,479
Income Before Income Taxes 127,019 141,442 133,166 122,360
Income taxes 33,758 37,230 36,676 30,630
Income before cumulative effect of change in accounting principle 93,261 104,212 96,490 91,730
Cumulative effect of change in accounting principle, net of tax — (13,330) — —
Net Income $ 93,261 $ 90,882 $ 96,490 $ 91,730
Per Common Share:
Income before cumulative effect of change in accounting principle—basic $ 0.41 $ 0.46 $ 0.42 $ 0.40
Income before cumulative effect of change in accounting principle—diluted 0.40 0.45 0.42 0.39
Net income—basic 0.41 0.40 0.42 0.40
Net income—diluted 0.40 0.39 0.42 0.39
2002
Interest income $329,340 $324,177 $311,176 $328,502
Interest expense 130,161 132,912 130,915 149,633
Net Interest Income 199,179 191,265 180,261 178,869
Provision for loan and lease losses 51,236 54,304 49,876 39,010
Gain on sale of Florida operations — — — 182,470
Merchant Services gain — 24,550 — —
Securities gains 2,339 1,140 966 457
Non-interest income 269,516 272,912 287,748 299,606
Non-interest expense 336,520 319,496 323,746 345,412
Restructure (releases) charges (7,211) — — 56,184
Income Before Income Taxes 90,489 116,067 95,353 220,796
Income taxes 21,226 28,052 24,375 125,321
Net Income $ 69,263 $ 88,015 $ 70,978 $ 95,475
Per Common Share:
Net Income—Basic $ 0.30 $ 0.37 $ 0.29 $ 0.38
Net Income— Diluted 0.29 0.36 0.29 0.38
140 HUNTINGTON BANCSHARES INCORPORATED