Huntington National Bank 2011 Annual Report Download - page 226
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26. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
The following is a summary of the unaudited quarterly results of operations, for the years ended
December 31, 2011 and 2010:
2011
Fourth Third Second First
(dollar amounts in thousands, except per share data)
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
Noninterest income ......................... 229,352 258,559 255,767 236,945
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
Net income per common share — Basic ......... $ 0.14 $ 0.16 $ 0.16 $ 0.14
Net income per common share — Diluted ....... 0.14 0.16 0.16 0.14
2010
Fourth Third Second First
(dollar amounts in thousands, except per share data)
Interest income .......................... $528,291 $534,669 $535,653 $546,779
Interest expense .......................... 112,997 124,707 135,997 152,886
Net interest income ......................... 415,294 409,962 399,656 393,893
Provision for credit losses .................... 86,973 119,160 193,406 235,008
Noninterest income ......................... 264,220 267,143 269,643 240,852
Noninterest expense ........................ 434,593 427,309 413,810 398,093
Loss before income taxes .................... 157,948 130,636 62,083 1,644
Provision (benefit) for income taxes ............ 35,048 29,690 13,319 (38,093)
Net income ............................... 122,900 100,946 48,764 39,737
Dividends declared on preferred shares ......... 83,754 29,495 29,426 29,357
Net income applicable to common shares ........ $ 39,146 $ 71,451 $ 19,338 $ 10,380
Net income per common share — Basic ......... $ 0.05 $ 0.10 $ 0.03 $ 0.01
Net income per common share — Diluted ....... 0.05 0.10 0.03 0.01
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