Huntington National Bank 2011 Annual Report Download - page 119

Table 51 — Selected Quarterly Income Statement Data(1)
2011
Fourth Third Second First
(dollar amounts in thousands, except per share amounts)
Interest income ........................................ $485,216 $490,996 $492,137 $ 501,877
Interest expense ..................................... 70,191 84,518 88,800 97,547
Net interest income ..................................... 415,025 406,478 403,337 404,330
Provision for credit losses ............................... 45,291 43,586 35,797 49,385
Net interest income after provision for credit losses ........... 369,734 362,892 367,540 354,945
Total noninterest income ................................ 229,352 258,559 255,767 236,945
Total noninterest expense ................................ 430,274 439,118 428,409 430,699
Income before income taxes .............................. 168,812 182,333 194,898 161,191
Provision for income taxes ............................... 41,954 38,942 48,980 34,745
Net income ........................................... $126,858 $143,391 $145,918 $ 126,446
Dividends on preferred shares ............................ 7,703 7,703 7,704 7,703
Net income applicable to common shares ................. $119,155 $135,688 $138,214 $118,743
Common shares outstanding
Average — basic .................................... 864,136 863,911 863,358 863,359
Average — diluted(2) ................................. 868,156 867,633 867,469 867,237
Ending ............................................ 864,406 864,075 863,323 863,399
Book value per common share .......................... $ 5.82 $ 5.83 $ 5.66 $ 5.42
Tangible book value per common share(3) ................ 5.18 5.17 5.00 4.74
Per common share
Net income — basic .................................. $ 0.14 $ 0.16 $ 0.16 $ 0.14
Net income — diluted ................................ 0.14 0.16 0.16 0.14
Cash dividends declared ............................... 0.04 0.04 0.01 0.01
Common stock price, per share
High(4) ............................................ $ 5.65 $ 6.74 $ 6.92 $ 7.70
Low(4) ............................................ 4.67 4.46 6.00 6.38
Close .............................................. 5.49 4.80 6.56 6.64
Average closing price ................................... 5.18 5.37 6.51 6.98
Return on average total assets ............................ 0.92% 1.05% 1.11% 0.96%
Return on average common shareholders’ equity ............. 9.3 10.8 11.6 10.3
Return on average tangible common shareholders’ equity(5) .... 11.2 13.0 13.3 12.7
Efficiency ratio(6) ..................................... 64.0 63.5 62.7 64.7
Effective tax rate ...................................... 24.9 21.4 25.1 21.6
Margin analysis-as a % of average earning assets(7)
Interest income(7) ................................... 3.96% 4.02% 4.14% 4.24%
Interest expense ..................................... 0.58 0.69 0.74 0.82
Net interest margin(7) ................................ 3.38% 3.34% 3.40% 3.42%
Revenue — FTE
Net interest income ................................... $415,025 $406,478 $403,337 $ 404,330
FTE adjustment ..................................... 3,479 3,658 3,834 3,945
Net interest income(7) .................................. 418,504 410,136 407,171 408,275
Noninterest income .................................... 229,352 258,559 255,767 236,945
Total revenue(7) ...................................... $647,856 $668,695 $662,938 $ 645,220
Continued
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