Huntington National Bank 2010 Annual Report Download - page 52

The $1.3 billion, or 3%, increase in average total deposits reflected:
• $3.1 billion, or 9%, growth in total core deposits. The primary driver of this growth was a 63% increase
in average money market deposits. Partially offsetting this growth was a 23% decline in average core
certificates of deposit.
Partially offset by:
• $1.7 billion, or 39%, decline in average noncore deposits, reflecting a managed decline in public fund
deposits as well as planned efforts to reduce our reliance on noncore funding sources.
2009 versus 2008
Fully-taxable equivalent net interest income for 2009 decreased $116.2 million, or 7%, from 2008. This
reflected the unfavorable impact of a $1.7 billion, or 4%, decrease in average earning assets, which included a
$2.3 billion decrease in average loans and leases. Also contributing to the decline in net interest income was a
14 basis point decline in the fully-taxable net interest margin to 3.11%, primarily due to the unfavorable
impact of our stronger liquidity position and an increase in NALs.
The following table details the change in our reported loans and deposits:
Table 8 — Average Loans/Leases and Deposits — 2009 vs. 2008
2009 2008 Amount Percent
Twelve Months Ended
December 31, Change
(Dollar amounts in millions)
Loans/Leases
Commercial and industrial ............................... $13,136 $13,588 $ (452) (3)%
Commercial real estate.................................. 9,156 9,732 (576) (6)
Total commercial ...................................... 22,292 23,320 (1,028) (4)
Automobile loans and leases ............................. 3,546 4,527 (981) (22)
Home equity . ........................................ 7,590 7,404 186 3
Residential mortgage ................................... 4,542 5,018 (476) (9)
Other consumer ....................................... 722 691 31 4
Total consumer ....................................... 16,400 17,640 (1,240) (7)
Total loans and leases .................................. $38,692 $40,960 $(2,268) (6)%
Deposits
Demand deposits — noninterest-bearing ..................... $ 6,057 $ 5,095 $ 962 19%
Demand deposits — interest-bearing ........................ 4,816 4,003 813 20
Money market deposits ................................. 7,216 6,093 1,123 18
Savings and other domestic deposits ........................ 4,881 5,147 (266) (5)
Core certificates of deposit ............................... 11,944 11,637 307 3
Total core deposits ..................................... 34,914 31,975 2,939 9
Other deposits ........................................ 4,475 5,861 (1,386) (24)
Total deposits ........................................ $39,389 $37,836 $ 1,553 4%
The $2.3 billion, or 6%, decrease in average total loans and leases primarily reflected:
• $1.0 billion, or 4%, decline in average total commercial loans. The decline in average CRE loans
reflected our planned efforts to shrink this portfolio through payoffs and paydowns, as well as the
impact of NCOs and the 2009 reclassifications of CRE loans to C&I loans (see Commercial Credit
section). The decline in average C&I loans reflected paydowns, the Franklin restructuring, and a
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