Huntington National Bank 2010 Annual Report Download - page 125
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Table 58 — Selected Quarterly Income Statement Data(1)
Fourth Third Second First
2009
(Dollar amounts in thousands, except per share amounts)
Interest income............................. $551,335 $ 553,846 $ 563,004 $ 569,957
Interest expense ............................ 177,271 191,027 213,105 232,452
Net interest income ........................... 374,064 362,819 349,899 337,505
Provision for credit losses ...................... 893,991 475,136 413,707 291,837
Net interest (loss) income after provision for credit
losses .................................... (519,927) (112,317) (63,808) 45,668
Total noninterest income ....................... 244,546 256,052 265,945 239,102
Total noninterest expense ....................... 322,596 401,097 339,982 2,969,769
Loss before income taxes ....................... (597,977) (257,362) (137,845) (2,684,999)
Benefit for income taxes ....................... (228,290) (91,172) (12,750) (251,792)
Net loss .................................... $(369,687) $(166,190) $(125,095) $(2,433,207)
Dividends on preferred shares. . .................. 29,289 29,223 57,451 58,793
Net loss applicable to common shares ............ $(398,976) $(195,413) $(182,546) $(2,492,000)
Common shares outstanding
Average — basic ........................... 715,336 589,708 459,246 366,919
Average — diluted(2) ........................ 715,336 589,708 459,246 366,919
Ending ................................... 715,762 714,469 568,741 390,682
Book value per share ........................ $ 5.10 $ 5.59 $ 6.23 $ 7.80
Tangible book value per share(3) ............... 4.21 4.69 5.07 6.08
Per common share
Net loss- basic ............................. $ (0.56) $ (0.33) $ (0.40) $ (6.79)
Net loss — diluted .......................... (0.56) (0.33) (0.40) (6.79)
Cash dividends declared ...................... 0.0100 0.0100 0.0100 0.0100
Common stock price, per share
High(4) .................................. $ 4.770 $ 4.970 $ 6.180 $ 8.000
Low(4)................................... 3.500 3.260 1.550 1.000
Close .................................... 3.650 4.710 4.180 1.660
Average closing price ........................ 3.970 4.209 3.727 2.733
Return on average total assets. . .................. (2.80)% (1.28)% (0.97)% (18.22)%
Return on average common shareholders’ equity ...... (39.1) (21.5) (23.0) (188.9)
Return on average tangible common shareholders’
equity(5) ................................. (45.1) (24.7) (27.2) (479.2)
Efficiency ratio(6) ............................ 49.0 61.4 51.0 60.5
Effective tax rate (benefit) ...................... (38.2) (35.4) (9.2) (9.4)
Margin analysis-as a % of average earning assets(7)
Interest income(7) .......................... 4.70% 4.86% 4.99% 4.99%
Interest expense ............................ 1.51 1.66 1.89 2.02
Net interest margin(7)........................ 3.19% 3.20% 3.10% 2.97%
Revenue — FTE
Net interest income ......................... $374,064 $ 362,819 $ 349,899 $ 337,505
FTE adjustment ............................ 2,497 4,177 1,216 3,582
Net interest income(7) ......................... 376,561 366,996 351,115 341,087
Noninterest income ........................... 244,546 256,052 265,945 239,102
Total revenue(7) ............................. $621,107 $ 623,048 $ 617,060 $ 580,189
Continued
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