Huntington National Bank 2004 Annual Report Download - page 8

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in thousands, except per share amounts 2004 2003 % Change
NET INCOME $ 398,925 $ 372,363 7.1%
PER COMMON SHARE AMOUNTS
Net income per common share – diluted $ 1.71 $ 1.61 6.2%
Cash dividends declared per common share 0.75 0.67 11.9
Book value per share(1) 10.96 9.93 10.4
PERFORMANCE RATIOS
Return on average assets 1.27% 1.29%
Return on average shareholders’ equity 16.8 17.0
Net interest margin(2) 3.33 3.49
Efficiency ratio(3) 65.0 63.9
Tangible equity/assets ratio(1) 7.18 6.79
CREDIT QUALITY MEASURES
Net charge-offs (NCOs) $ 78,535 $ 161,809 (51.5)%
NCOs as a % of average loans and leases 0.35% 0.81%
Non-performing loans and leases (NPLs)(1) $ 63,962 $ 75,481 (15.3)
Non-performing assets (NPAs)(1) 108,568 87,386 24.2
NPAs as a % of total loans and leases and other
real estate (OREO)(1) 0.46% 0.41%
Allowances for credit losses (ACL)
as a % of total loans and leases(1) 1.29 1.59
ACL as a % of NPLs(1) 476 444
ACL as a % of NPAs(1) 280 384
BALANCE SHEET – DECEMBER 31,
Total loans and leases $ 23,560,277 $ 21,075,118 11.8%
Total assets 32,565,497 30,519,326 6.7
Total deposits 20,768,161 18,487,395 12.3
Total shareholders’ equity 2,537,638 2,275,002 11.5
(1) At December 31.
(2) On a fully taxable equivalent basis assuming a 35% tax rate.
(3) Non-interest expense less amortization of intangible assets divided by the sum of
fully taxable equivalent net interest income and non-interest income excluding securities gains.
Consolidated Financial Highlights
6