Huntington National Bank 2004 Annual Report Download - page 136

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS HUNTINGTON BANCSHARES INCORPORATED
Listed below is certain operating basis financial information reconciled to Huntington’s 2004, 2003, and 2002 reported results by line
of business:
Regional Dealer Treasury/ Huntington
INCOME STATEMENTS (in thousands of dollars) Banking Sales PFG Other Consolidated
2004
Net interest income $ 642,140 $ 149,251 $ 46,575 $ 73,408 $ 911,374
Provision for credit losses (7,565) (44,692) (2,299) (506) (55,062)
Non-Interest income 307,119 320,434 111,630 65,209 804,392
Non-Interest expense (588,111) (324,240) (113,672) (97,372) (1,123,395)
Income taxes (123,755) (35,264) (14,782) 25,435 (148,366)
Operating earnings 229,828 65,489 27,452 66,174 388,943
Restructuring releases, net of taxes — — — 748 748
Gain on sale of automobile loans, net of taxes — 8,598 — 636 9,234
Net income $ 229,828 $ 74,087 $ 27,452 $ 67,558 $ 398,925
2003
Net interest income $ 605,378 $ 107,242 $ 41,876 $ 94,490 $ 848,986
Provision for credit losses (94,004) (59,469) (4,781) (5,739) (163,993)
Non-Interest income 317,687 525,987 107,951 64,377 1,016,002
Non-Interest expense (563,099) (481,354) (105,153) (71,969) (1,221,575)
Income taxes (93,086) (32,343) (13,963) 16,697 (122,695)
Operating earnings 172,876 60,063 25,930 97,856 356,725
Restructuring releases, net of tax — — — 4,333 4,333
Gain on sale of automobile loans, net of tax — 13,493 — 12,532 26,025
Cumulative effect of change in accounting principle, net of taxes — (10,888) — (2,442) (13,330)
Gain on sale of branch offices, net of tax — — — 8,523 8,523
Long-term debt extinguishment, net of tax — — — (9,913) (9,913)
Net income $ 172,876 $ 62,668 $ 25,930 $110,889 $ 372,363
2002
Net interest income $ 583,999 $ 5,404 $ 35,773 $114,674 $ 739,850
Provision for credit losses (133,907) (46,335) (3,468) (5,530) (189,240)
Non-Interest income 264,026 687,557 108,948 60,810 1,121,341
Non-Interest expense (539,992) (609,833) (103,110) (52,029) (1,304,964)
Income taxes (60,944) (12,878) (13,350) (106) (87,278)
Operating earnings 113,182 23,915 24,793 117,819 279,709
Restructuring charges, net of tax — — (3,429) (28,403) (31,832)
Florida operations sold, net of tax 1,270 790 1,428 (5,013) (1,525)
Gain on sale of Florida operations, net of tax — — — 61,422 61,422
Merchant Services restructuring gain, net of tax — — — 15,957 15,957
Net income $ 114,452 $ 24,705 $ 22,792 $161,782 $ 323,731
Deposits
Assets
At December 31,
At December 31,
BALANCE SHEETS (in millions of dollars) 2004 2003 2002 2004 2003 2002
Regional Banking $17,809 $14,970 $13,947 $17,424 $15,539 $15,296
Dealer Sales 6,133 7,454 7,285 76 77 61
PFG 1,649 1,461 1,203 1,172 1,164 939
Treasury / Other 6,974 6,634 5,105 2,096 1,707 1,203
Total $32,565 $30,519 $27,540 $20,768 $18,487 $17,499
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