Huntington National Bank 2003 Annual Report Download - page 50

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MANAGEMENT’S DISCUSSION AND ANALYSIS
Table 7—Consolidated Average Balance Sheets—Excluding Sold Florida Operations
Average Balance
2002 2001
GAAP Change
from 2001
Excluding FL
Change from 2001
(in millions of dollars) GAAP Amount Percent FL (1) Excld. FL Amount Percent GAAP FL (1) Excld. FL
Assets
Interest bearing deposits in banks $ 33 $ 26 NM% $ — $ 33 $ 26 NM% $ 7 $ — $ 7
Trading account securities 7 (18) (72.0) — 7 (18) (72.0) 25 — 25
Federal funds sold and securities
purchased under resale agreements 72 (35) (32.7) — 72 (35) (32.7) 107 — 107
Mortgages held for sale 322 (38) (10.6) — 322 (38) (10.6) 360 — 360
Securities:
Taxable 2,859 (285) (9.1) — 2,859 (285) (9.1) 3,144 — 3,144
Tax exempt 135 (39) (22.4) — 135 (39) (22.4) 174 — 174
Total securities 2,994 (324) (9.8) — 2,994 (324) (9.8) 3,318 — 3,318
Loans and leases:
C&I 5,679 (971) (14.6) 94 5,585 (318) (5.4) 6,650 747 5,903
CRE
Construction 1,216 (5) (0.4) 13 1,203 91 8.2 1,221 109 1,112
Commercial 2,378 38 1.6 41 2,337 303 14.9 2,340 306 2,034
Consumer
Automobile loans and leases 3,196 357 12.6 42 3,154 640 25.5 2,839 325 2,514
Home equity 3,085 (313) (9.2) 104 2,981 296 11.0 3,398 713 2,685
Residential mortgage 1,438 390 37.2 29 1,409 600 74.2 1,048 239 809
Other loans 425 (165) (28.0) 15 410 (66) (13.9) 590 114 476
Total consumer 8,144 269 3.4 190 7,954 1,470 22.7 7,875 1,391 6,484
Total loans and leases 17,417 (669) (3.7) 338 17,079 1,546 10.0 18,086 2,553 15,533
Allowance for loan and lease losses 374 67 21.8 2 372 99 36.3 307 34 273
Net loans and leases 17,043 (736) (4.1) 336 16,707 1,447 9.5 17,779 2,519 15,260
Total earning assets 20,845 (1,058) (4.8) 338 20,507 1,157 6.0 21,903 2,553 19,350
Operating lease assets 2,602 (368) (12.4) — 2,602 (368) (12.4) 2,970 — 2,970
Cash and due from banks 757 (155) (17.0) 12 745 (86) (10.3) 912 81 831
Intangible assets 293 (443) (60.2) 86 207 11 5.6 736 540 196
All other assets 1,800 (63) (3.4) 3 1,797 7 0.4 1,863 73 1,790
Total Assets $25,923 $(2,154) (7.7)% $ 437 $25,486 $ 622 2.5% $28,077 $3,213 $24,864
Liabilities and Shareholders’ Equity
Core deposits
Non-interest bearing deposits $ 2,902 $ (402) (12.2)% $ 75 $ 2,827 $ 104 3.8% $ 3,304 $ 581 $ 2,723
Interest bearing demand deposits 5,161 156 3.1 193 4,968 1,349 37.3 5,005 1,386 3,619
Savings deposits 2,853 (625) (18.0) 66 2,787 (139) (4.8) 3,478 552 2,926
Other domestic time deposits 4,349 (1,534) (26.1) 228 4,121 51 1.3 5,883 1,813 4,070
Total core deposits 15,265 (2,405) (13.6) 562 14,703 1,365 10.2 17,670 4,332 13,338
Domestic time deposits of $100,000 or
more 851 (429) (33.5) 21 830 (241) (22.5) 1,280 209 1,071
Brokered time deposits and negotiable
CDs 731 603 NM — 731 603 NM 128 — 128
Foreign time deposits 337 54 19.1 — 337 60 21.7 283 6 277
Total deposits 17,184 (2,177) (11.2) 583 16,601 1,787 12.1 19,361 4,547 14,814
Short-term borrowings 1,856 (243) (11.6) 18 1,838 (124) (6.3) 2,099 137 1,962
Federal Home Loan Bank Advances 279 260 NM — 279 260 NM 19 — 19
Subordinated notes 847 (12) (1.4) — 847 (12) (1.4) 859 — 859
Other long-term debt 2,488 (64) (2.5) (167) 2,655 (1,368) (34.0) 2,552 (1,471) 4,023
Total interest bearing liabilities 19,752 (1,834) (8.5) 359 19,393 439 2.3 21,586 2,632 18,954
All other liabilities 1,053 194 22.6 3 1,050 191 22.2 859 — 859
Shareholders’ equity 2,216 (112) (4.8) — 2,216 (112) (4.8) 2,328 — 2,328
Total Liabilities and Shareholders’
Equity $25,923 $(2,154) (7.7)% $ 437 $25,486 $ 622 2.5% $28,077 $3,213 $24,864
(1) Average balances from sold Florida operations.
NM, not a meaningful value.
48 HUNTINGTON BANCSHARES INCORPORATED