Huntington National Bank 2009 Annual Report Download - page 168

line of business for the
y
ears ended December 31, 2009 and 2008, includin
g
the reallocation noted above, wa
s
as follows:
Re
gi
onal
B
ank
i
n
g
Reta
i
l
&
Busi
n
ess
Bank
i
n
g
C
ommerc
i
a
l
Bank
i
n
g
C
ommerc
i
al
Real Estate PF
G
Treasur
y/
O
the
r
Hunt
i
ngto
n
C
onsol
i
date
d
(
In thousands
)
Balance, Januar
y1,
2008
..............
$
2
,
906
,
155
$
—
$
—
$
—
$
87
,
517
$
65
,
661
$
3
,
059
,
33
3
Ad
j
ustments
.........
(
17,811
)
— — — 65,661
(
52,198
)(
4,348
)
Balance
,
December 31
,
2008
..............
2
,
888
,
344 — — — 1
5
3
,
178 13
,
463 3
,
0
5
4
,
98
5
Im
p
a
i
rment, Marc
h
31
,
2009
............
(
2,
5
73,818
)
—— —
(
28,89
5)
—
(
2,602,713
)
R
eallocation of
g
oodwil
l
..........
(
314,526
)
309,518 5,008 — — —
—
Balance, A
p
ril 1, 2009 . . . — 309,518 5,008 — 124,283 13,463 452,272
G
oo
d
w
ill
ac
q
u
i
re
d
d
ur
i
n
g
t
h
e per
i
o
d
..... —
6
2
0
—— ——
6
2
0
Im
p
a
i
rmen
t
.........
———— —
(4
,
231) (4
,
231)
Other ad
j
ustment
s
.....
———— —
(
4,393
)(
4,393
)
Balance
,
December
31,
2
009
..............
$ — $310
,
138 $5
,
008 $— $124
,
283 $ 4
,
839 $ 444
,
26
8
Goo
d
w
ill i
s not amort
i
ze
db
ut
i
seva
l
uate
df
or
i
mpa
i
rment on an annua
lb
as
i
s at Octo
b
er 1st o
f
eac
hy
ea
r
or whenever events or chan
g
es in circumstances indicate that the carr
y
in
g
value ma
y
not be recoverable.
Dur
i
n
g
t
h
e
fi
rst quarter o
f
2009, Hunt
i
n
g
ton exper
i
ence
d
a susta
i
ne
dd
ec
li
ne
i
n
i
ts stoc
k
pr
i
ce, w
hi
c
h
wa
s
pr
i
mar
ily
attr
ib
uta
bl
etot
h
e cont
i
nu
i
n
g
econom
i
cs
l
ow
d
own an
di
ncrease
d
mar
k
et concern surroun
di
n
g
financial institutions’ credit risks and capital positions as well as uncertaint
y
related to increased re
g
ulator
y
supervision and intervention. Huntin
g
ton determined that these chan
g
es would more likel
y
than not reduce th
e
f
a
i
rva
l
ue o
f
certa
i
n report
i
n
g
un
i
ts
b
e
l
ow t
h
e
i
r carr
yi
n
g
amounts. T
h
ere
f
ore, Hunt
i
n
g
ton per
f
orme
d
a
g
oo
d
w
ill
impairment test, which resulted in a
g
oodwill impairment char
g
eof
$
2.6 billion in the first quarter of 2009
.
A
n impairment char
g
e of $4.2 million was recorded in the second quarter related to the sale of a smal
l
pa
y
ments-re
l
ate
db
us
i
ness comp
l
ete
di
nJu
ly
2009. Hunt
i
n
g
ton conc
l
u
d
e
d
t
h
at no ot
h
er
g
oo
d
w
ill i
mpa
i
rmen
t
w
as requ
i
re
dd
ur
i
n
g
2009.
Goo
d
w
ill
acqu
i
re
dd
ur
i
n
g
t
h
e per
i
o
d
was t
h
e resu
l
to
f
Hunt
i
n
g
ton’s assumpt
i
on o
f
t
h
e
d
epos
i
ts an
d
certa
in
assets of Warren Bank in October 200
9.
Th
ere were no
g
oo
d
w
ill i
mpa
i
rment c
h
ar
g
es recor
d
e
d
pr
i
or to Decem
b
er 31, 2008. T
h
ec
h
an
g
e
i
n
consolidated
g
oodwill for the
y
ear ended December 31, 2008, primaril
y
related to final purchase accountin
g
a
dj
ustments o
f
acqu
i
re
db
an
kb
ranc
h
es, operat
i
n
gf
ac
ili
t
i
es, an
d
ot
h
er cont
i
n
g
ent o
blig
at
i
ons pr
i
mar
ily f
rom a
n
acqu
i
s
i
t
i
on ma
d
eonJu
ly
1, 2007. Hunt
i
n
g
ton a
l
so trans
f
erre
dg
oo
d
w
ill b
etween
b
us
i
nesses
i
n response to
other or
g
anizational chan
g
es. Huntin
g
ton does not expect a material amount of
g
oodwill from mer
g
ers in 200
9
or 2007 to be deductible for tax
p
ur
p
oses
.
1
6
0