Huntington National Bank 2004 Annual Report Download - page 57

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MANAGEMENT’S DISCUSSION AND ANALYSIS HUNTINGTON BANCSHARES INCORPORATED
Table 16 — Net Loan and Lease Charge-offs
At December 31,
(in thousands of dollars) 2004 2003 2002 2001 2000
Net charge-offs by loan and lease type
Commercial:
Middle market commercial and industrial $ 1,920 $ 75,803 $104,703 $ 45,338 $ 6,959
Middle market real estate:
Construction 2,465 2,928 4,216 789 (1)
Commercial 5,506 5,019 11,968 1,420 636
Total middle market commercial real estate 7,971 7,947 16,184 2,209 635
Small business commercial and industrial and commercial real estate 5,566 11,625 14,516 15,750 7,545
Total commercial 15,457 95,375 135,403 63,297 15,139
Consumer:
Automobile loans 28,574 40,266 39,115 N.M. N.M.
Automobile leases 10,837 5,728 1,431 N.M. N.M.
Automobile loans and leases 39,411 45,994 40,546 55,071 32,280
Home equity(3) 15,074 12,114 11,840 11,458 3,879
Residential mortgage 1,760 832 872 785 1,007
Other loans(3) 6,833 7,494 8,251 15,658 9,342
Total consumer 63,078 66,434 61,509 82,972 46,508
Total net charge-offs $78,535 $161,809 $196,912 $146,269 $61,647
Net charge-offs as a % of average loans and leases
Commercial:
Middle market commercial and industrial 0.04% 1.64% 2.18% 0.89% 0.14%
Middle market real estate:
Construction 0.17 0.24 0.37 0.08 —
Commercial 0.29 0.28 0.72 0.09 0.05
Total middle market commercial real estate 0.24 0.26 0.57 0.09 0.03
Small business commercial and industrial and commercial real estate 0.28 0.65 0.88 0.61 0.30
Total commercial 0.16 1.01 1.46 0.62 0.15
Consumer:
Automobile loans 1.25 1.24 1.43 N.M. N.M.
Automobile leases 0.49 0.40 0.32 N.M. N.M.
Automobile loans and leases 0.88 0.98 1.27 1.94 1.03
Home equity(1)(3) 0.36 0.35 0.39 0.34 0.13
Residential mortgage(2) 0.05 0.04 0.06 0.07 0.07
Other loans(3) 1.52 1.72 1.72 2.39 1.56
Total consumer 0.51 0.63 0.76 1.05 0.58
Net charge-offs as a % of average loans 0.35% 0.81% 1.13% 0.81% 0.35%
N.M., not a meaningful value.
(1) Home equity includes personal lines of credit and other consumer loans secured by first or junior mortgages on residential property originated and underwritten through the Company’s retail
banking channel. Reclassification of prior period balances has been made to conform to this presentation, resulting in an increase to previously reported home equity loans and a decrease to
previously reported residential mortgage loans.
(2) Residential mortgage includes loans secured by first mortgages on residential property originated and underwritten through the Company’s mortgage banking channel. Reclassification of prior
period balances has been made to conform to this presentation, resulting in an increase to previously reported home equity loans and a decrease to previously reported residential mortgage loans.
(3) Effective December 31, 2004, unsecured personal credit line charge-offs were reclassified from ‘‘home equity loans’’ to ‘‘other loans’’ in all periods presented.
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