Huntington National Bank 2008 Annual Report Download - page 130

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25. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
The following is a summary of the unaudited quarterly results of operations, for the years ended December 31, 2008 and 2007:
(in thousands, except per share data) Fourth Third Second First
2008
Interest income $ 662,508 $ 685,728 $ 696,675 $ 753,411
Interest expense (286,143) (297,092) (306,809) (376,587)
Net interest income 376,365 388,636 389,866 376,824
Provision for credit losses (722,608) (125,392) (120,813) (88,650)
Non-interest income 67,099 167,857 236,430 235,752
Non-interest expense (390,094) (338,996) (377,803) (370,481)
(Loss) income before income taxes (669,238) 92,105 127,680 153,445
Benefit (provision) for income taxes 251,949 (17,042) (26,328) (26,377)
Net (loss) income (417,289) 75,063 101,352 127,068
Dividends on preferred shares (23,158) (12,091) (11,151) —
Net (loss) income applicable to common shares $(440,447) $ 62,972 $ 90,201 $ 127,068
Net (loss) income per common share — Basic $ (1.20) $ 0.17 $ 0.25 $ 0.35
Net (loss) income per common share — Diluted (1.20) 0.17 0.25 0.35
(in thousands, except per share data) Fourth Third Second First
2007
Interest income $ 814,398 $ 851,155 $ 542,461 $ 534,949
Interest expense (431,465) (441,522) (289,070) (279,394)
Net interest income 382,933 409,633 253,391 255,555
Provision for credit losses (512,082) (42,007) (60,133) (29,406)
Non-interest income 170,557 204,674 156,193 145,177
Non-interest expense (439,552) (385,563) (244,655) (242,072)
(Loss) income before income taxes (398,144) 186,737 104,796 129,254
Benefit (provision) for income taxes 158,864 (48,535) (24,275) (33,528)
Net (loss) income $(239,280) $ 138,202 $ 80,521 $ 95,726
Net (loss) income per common share — Basic $ (0.65) $ 0.38 $ 0.34 $ 0.41
Net (loss) income per common share — Diluted (0.65) 0.38 0.34 0.40
128
Notes to Consolidated Financial Statements Huntington Bancshares Incorporated