Huntington National Bank 2010 Annual Report Download - page 50
Download and view the complete annual report
Please find page 50 of the 2010 Huntington National Bank annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40 -
41 -
42 -
43 -
44 -
45 -
46 -
47 -
48 -
49 -
50 -
51 -
52 -
53 -
54 -
55 -
56 -
57 -
58 -
59 -
60 -
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223
-
224
-
225
-
226
-
227
-
228
 |
 |
The following table shows changes in fully-taxable equivalent interest income, interest expense, and net
interest income due to volume and rate variances for major categories of earning assets and interest-bearing
liabilities.
Table 6 — Change in Net Interest Income Due to Changes in Average Volume and Interest Rates (1)
Fully-taxable equivalent basis(2) Volume
Yield/
Rate Total Volume
Yield/
Rate Total
Increase (Decrease) from
Previous Year Due to
Increase (Decrease) from
Previous Year Due to
2010 2009
(Dollar amounts in millions)
Loans and direct financing leases ........ $(71.3) $ (9.6) $ (80.9) $(130.2) $(371.3) $(501.5)
Investment securities ................. 96.8 (103.2) (6.4) 84.4 (86.3) (1.9)
Other earning assets .................. (3.8) (2.2) (6.0) (42.1) (23.4) (65.5)
Total interest income from earning assets .. 21.7 (115.0) (93.3) (87.9) (481.0) (568.9)
Deposits .......................... 10.9 (246.0) (235.1) 16.5 (274.1) (257.6)
Short-term borrowings ................ 1.1 (0.5) 0.6 (16.6) (23.3) (39.9)
Federal Home Loan Bank advances ...... (15.4) 5.6 (9.8) (45.3) (49.6) (94.9)
Subordinated notes and other long-term
debt, including capital securities ....... (14.3) (28.8) (43.1) 9.8 (70.1) (60.3)
Total interest expense of interest-bearing
liabilities .......................... (17.7) (269.7) (287.4) (35.6) (417.1) (452.7)
Net interest income ................... $ 39.4 $ 154.7 $ 194.1 $ (52.3) $ (63.9) $(116.2)
(1) The change in interest rates due to both rate and volume has been allocated between the factors in propor-
tion to the relationship of the absolute dollar amounts of the change in each.
(2) Calculated assuming a 35% tax rate.
2010 versus 2009
Fully-taxable equivalent net interest income for 2010 increased $194.1 million, or 14%, from 2009. This
reflected the favorable impact of a $1.3 billion, or 3%, increase in average earning assets, due to a $2.9 billion,
or 45%, increase in average total investment securities, which was partially offset by a $1.4 billion, or 4%,
decrease in average total loans and leases. Also contributing to the increase in net interest income was a
33 basis point increase in the fully-taxable net interest margin to 3.44% from 3.11% in 2009.
36