Huntington National Bank 2009 Annual Report Download - page 133

Additionall
y
, C&I customers have been sufferin
g
from the weak econom
y
for several consecutive
y
ear
s
and some of these customers no lon
g
er have the capital base to withstand protracted stress and, therefore, ma
y
not be able to compl
y
with the ori
g
inal terms of their credit a
g
reements
.
In the 2009 fourth quarter, the provision for credit losses exceeded net char
g
e-offs b
y$
449.2 million, or
101%.
Table 65 — Selected Quarterl
y
Income Statement Data
(
1
)
Fourth Third
S
econd Firs
t
2009
(Dollar amounts in thousands, exce
p
t
p
er share amounts
)
Interest income
...................................
$ 551
,
335 $ 553
,
846 $ 563
,
004 $ 569
,
95
7
I
nterest ex
p
ense
..................................
177
,
271 191
,
027 213
,
105 232
,
452
N
et interest incom
e
..................................
374
,
064 362
,
819 349
,
899 337
,
505
Provision for credit losses
.............................
8
93
,
991 475
,
136 413
,
707 291
,
83
7
Net interest (loss) income after
p
rovision for credit losse
s
.....
(519
,
927) (112
,
317) (63
,
808) 45
,
66
8
T
otal
n
o
n
i
n
te
r
est i
n
co
m
e
..............................
244,
5
46 2
5
6,0
5
226
5
,94
5
239,102
Tota
l
non
i
nterest ex
p
ens
e
.............................
322,
5
96 401,09
7
339,982 2,969,
7
69
(
Loss
)
Income
b
e
f
ore
i
ncome taxes
......................
(
597
,
977
)(
257
,
362
)(
137
,
845
)(
2
,
684
,
999
)
(
Bene
fi
t
)
Prov
i
s
i
on
f
or
i
ncome taxes
.....................
(
228
,
290
)(
91
,
172
)(
12
,
750
)(
251
,
792
)
Net
(l
oss
)i
ncome
...................................
$
(369
,
687)
$
(166
,
190)
$
(125
,
095)
$
(2
,
433
,
207)
D
i
v
id
en
d
son
p
re
f
erre
d
s
h
are
s
..........................
29,289 29,223
57
,4
5
1
5
8,
7
93
Net
(
loss
)
income a
pp
licable to common share
s
...........
$
(398
,
976)
$
(195
,
413)
$
(182
,
546)
$
(2
,
492
,
000)
C
ommon shares outstand
i
n
g
Avera
g
e — basi
c
..................................
71
5
,336
5
89,
7
08 4
5
9,246 366,919
Avera
g
e — diluted(2
)
..............................
7
15
,
336 589
,
708 459
,
246 366
,
91
9
Endin
g
..
.
......................................
7
15
,
762 714
,
469 568
,
741 390
,
682
Book value
p
er shar
e
...............................
$
5.10
$
5.59
$
6.23
$
7.80
Tan
gibl
e
b
oo
k
va
l
ue per s
h
are(3)
......................
4.21 4.69
5
.0
7
6.08
Pe
r
co
mm
o
n
sha
r
e
Net
(l
oss
)i
ncome —
b
as
ic
...........................
$(
0.56
)$ (
0.33
)$ (
0.40
)$ (
6.79
)
Net
(
loss
)
income — diluted
.........................
(
0.56
)(
0.33
)(
0.40
)(
6.79
)
C
ash di
v
idends declared
............................
0.0100 0.0100 0.0100 0.010
0
12
5