Huntington National Bank 2004 Annual Report Download - page 137

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS HUNTINGTON BANCSHARES INCORPORATED
29. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
The following is a summary of the unaudited quarterly results of operations, for the years ended December 31, 2004 and 2003:
2004
(in thousands of dollars, except per share data) Fourth Third Second First
Interest income $ 359,215 $ 338,002 $ 324,167 $ 325,931
Interest expense (120,147) (110,944) (101,604) (103,246)
Net interest income 239,068 227,058 222,563 222,685
Provision for credit losses (12,654) (11,785) (5,027) (25,596)
Non-interest income 182,940 189,891 218,128 227,639
Non-interest expense (281,014) (273,423) (282,153) (285,654)
Income before income taxes 128,340 131,741 153,511 139,074
Income taxes (37,201) (38,255) (43,384) (34,901)
Net income $ 91,139 $ 93,486 $ 110,127 $ 104,173
Net income per common share — Basic $0.39 $0.41 $0.48 $0.45
Net income per common share — Diluted 0.39 0.40 0.47 0.45
2003
(in thousands of dollars, except per share data) Fourth Third Second First
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 credit losses (26,341) (51,615) (49,193) (36,844)
Non-interest income 246,510 272,768 276,951 272,924
Non-interest expense (317,465) (300,182) (297,033) (315,479)
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
Income per common share before cumulative effect of change
in accounting principle — Basic $0.41 $0.46 $0.42 $0.40
Net income per common share — Basic 0.41 0.40 0.42 0.40
Income per common share before cumulative effect of change
in accounting principle — Diluted 0.40 0.45 0.42 0.39
Net income per common share — Diluted 0.40 0.39 0.42 0.39
135