Huntington National Bank 2007 Annual Report Download - page 96

Download and view the complete annual report

Please find page 96 of the 2007 Huntington National Bank annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 120

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120

At December 31, 2007 and 2006, Huntington’s other intangible assets consisted of the following:
(in thousands)
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying Value
December 31, 2007
Core deposit intangible $373,300 $(46,057) $327,243
Customer relationship 104,574 (7,055) 97,519
Other 23,655 (20,447) 3,208
Total other intangible assets $501,529 $(73,559) $427,970
December 31, 2006
Core deposit intangible $ 45,000 $ (7,525) $ 37,475
Customer relationship 19,622 (1,634) 17,988
Other 23,655 (19,631) 4,024
Total other intangible assets $ 88,277 $(28,790) $ 59,487
The estimated amortization expense of other intangible assets for the next five years is as follows:
(in thousands)
Amortization
Expense
2008 $75,642
2009 67,366
2010 59,597
2011 52,600
2012 45,503
9. PREMISES AND EQUIPMENT
At December 31, premises and equipment were comprised of the following:
(in thousands) 2007 2006
At December 31,
Land and land improvements $ 122,224 $ 79,273
Buildings 355,560 270,942
Leasehold improvements 176,952 154,097
Equipment 565,303 491,428
Total premises and equipment 1,220,039 995,740
Less accumulated depreciation and amortization (662,474) (622,968)
Net premises and equipment $ 557,565 $ 372,772
Depreciation and amortization charged to expense and rental income credited to net occupancy expense for the three years ended
December 31, 2007, 2006 and 2005 were:
(in thousands) 2007 2006 2005
Year Ended December 31,
Total depreciation and amortization of premises and equipment $64,052 $52,333 $50,355
Rental income credited to occupancy expense 12,808 11,602 11,010
94
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS HUNTINGTON BANCSHARES INCORPORATED