Huntington National Bank 2009 Annual Report Download - page 127

Table 60 — Si
g
nificant Items Impactin
g
Performance Comparison
s
Pretax EPS
(
2
)
Impact
(
1
)
(In millions, exce
p
t
p
er share amounts
)
Th
r
ee Mo
nt
hs E
n
ded:
Decem
b
er 31
,
2009 — GAAP
l
oss
...............................
$(
369.7
)(
2
)$(
0.56
)
•
Gain on the earl
y
extin
g
uishment of debt
......................
7
3
.
60
.
0
7
•
Deferred tax valuation benefit
...............................
11.3
(
2
)
0.0
2
D
ecember 31
,
2008 — GAAP loss
...............................
$
(
417.3
)(
2
)
$
(
1.20
)
•
V
i
sa
»
ant
i
-trust
i
n
d
emn
ifi
cat
i
o
n
............................. 4.
6
0
.
01
•Vi
sa
»
d
e
f
erre
d
tax va
l
uat
i
on a
ll
owance
p
rov
i
s
i
o
n
................
(2
.
9)(2) (0
.
01)
(1) Favora
bl
e (un
f
avora
bl
e)
i
mpact on GAAP earn
i
n
g
s; pretax un
l
ess ot
h
erw
i
se note
d.
(2) A
f
ter-tax. EPS
i
sre
fl
ecte
d
on a
f
u
lly dil
ute
db
as
i
s
.
N
et Interest Income, Net Interest Mar
g
in, Loans and Avera
g
e Balance Shee
t
Full
y
-taxable equivalent net interest income decreased
$
3.4 million, or 1%, from the
y
ear-a
g
o quarter.
This reflected the unfavorable impact of a $0.7 billion, or 2%, decline in total avera
g
e earnin
g
assets, partiall
y
o
ff
set
by
t
h
e
f
avora
bl
e
i
mpact o
f
as
ligh
t
i
ncrease
i
nt
h
e net
i
nterest mar
gi
n to 3.19%
f
rom 3.18%. T
h
e
d
ec
li
ne
in total avera
g
e earnin
g
assets primaril
y
reflected a
$
4.3 billion, or 10%, decline in avera
g
e total loans an
d
leases and a $0.8 billion, or 88%, decline in avera
g
e tradin
g
assets, partiall
y
offset b
y
a $4.4 billion, or 97%
,
i
ncrease
i
n
i
n
v
estment secur
i
t
i
es
.
The followin
g
table details the $4.3 billion, or 10%, decrease in avera
g
e loans and leases
.
Table 61 — Avera
g
e Loans
/
Leases — 2009 Fourth
Q
uarter vs. 2008 Fourth
Q
uarter
2009 2008
A
m
ou
nt P
e
r
ce
n
t
Fourth
Q
uarter
C
han
ge
(
In millions
)
Avera
g
e Loans
/
Leases
Commercial and industria
l
....................
$12
,
570 $13,746 $
(
1,176
)(
9
)%
C
ommercial real estate
.......................
8,
45
8
10,218
(
1,760
)(
17
)
T
otal commercia
l
.............................
2
1
,
028 23,964
(
2,936
)(
12
)
A
uto
m
obile loa
n
sa
n
d leases
..................
3,326
4,
5
3
5(
1,209
)(
27
)
Home equ
i
t
y
..............................
7
,
5
61
7
,5
23 38
1
Res
id
ent
i
a
l
mort
g
a
ge
........................
4,41
7
4
,7
3
7
(320) (
7
)
O
t
h
er consumer
............................
757
6
78 7
9
1
2
Total co
n
su
m
er
..............................
16,061
1
7,
4
7
3(1
,
412) (8)
Tota
ll
oans/
l
ease
s
..............................
$
37
,
089
$
41,437
$(
4,348
)(
10
)%
T
h
e
d
ecrease
i
n avera
g
e tota
ll
oans an
dl
eases re
fl
ecte
d:
• $2.9 billion, or 12%, decrease in avera
g
e total commercial loans. The $1.2 billion, or 9%, decline in
avera
g
e C&I
l
oans re
fl
ecte
d
a
g
enera
ld
ec
li
ne
i
n
b
orrow
i
n
g
as re
fl
ecte
di
na
d
ec
li
ne
i
n
li
ne-o
f
-cre
dit
ut
ili
zat
i
on,
i
nc
l
u
di
n
g
s
ig
n
ifi
cant re
d
uct
i
ons
i
n
li
ne-o
f
-cre
di
tut
ili
zat
i
on
i
n our automo
bil
e
d
ea
l
er
floorplan exposure, char
g
e-off activit
y
, and the 2009 first quarter Franklin restructurin
g
, partiall
y
offset
b
y
the impact of the 2009 reclassifications. The
$
1.8 billion, or 17%, decrease in avera
g
e CRE loan
s
re
fl
ecte
d
a com
bi
nat
i
on o
ff
actors,
i
nc
l
u
di
n
g
our p
l
anne
d
e
ff
orts to s
h
r
i
n
k
t
hi
s port
f
o
li
ot
h
rou
gh
pa
y
o
ffs
an
d
pa
yd
owns, as we
ll
as t
h
e
i
mpact o
f
c
h
ar
g
e-o
ff
san
d
t
h
e 2009 rec
l
ass
ifi
cat
i
ons.
119