Huntington National Bank 2011 Annual Report Download - page 36

Item 6: Selected Financial Data
Table 1 — Selected Financial Data (1), (9)
Year Ended December 31,
2011 2010 2009 2008 2007
(dollar amounts in thousands, except per share amounts)
Interest income .................................... $ 1,970,226 $ 2,145,392 $ 2,238,142 $ 2,798,322 $ 2,742,963
Interest expense .................................... 341,056 526,587 813,855 1,266,631 1,441,451
Net interest income ................................. 1,629,170 1,618,805 1,424,287 1,531,691 1,301,512
Provision for credit losses ............................ 174,059 634,547 2,074,671 1,057,463 643,628
Net interest income after provision for credit losses ....... 1,455,111 984,258 (650,384) 474,228 657,884
Noninterest income ................................... 980,623 1,041,858 1,005,644 707,138 676,603
Noninterest expense:
Goodwill impairment ............................... —— 2,606,944 — —
Other noninterest expense ............................ 1,728,500 1,673,805 1,426,499 1,477,374 1,311,844
Total noninterest expense ............................. 1,728,500 1,673,805 4,033,443 1,477,374 1,311,844
Income (loss) before income taxes ..................... 707,234 352,311 (3,678,183) (296,008) 22,643
Provision (benefit) for income taxes .................... 164,621 39,964 (584,004) (182,202) (52,526)
Net income (loss) .................................. $ 542,613 $ 312,347 $ (3,094,179) $ (113,806) $ 75,169
Dividends on preferred shares ........................ 30,813 172,032 174,756 46,400 —
Net income (loss) applicable to common shares ........... $ 511,800 $ 140,315 $ (3,268,935) $ (160,206) $ 75,169
Net income (loss) per common share — basic ............ $ 0.59 $ 0.19 $ (6.14) $ (0.44) $ 0.25
Net income (loss) per common share — diluted ........... 0.59 0.19 (6.14) (0.44) 0.25
Cash dividends declared per common share .............. 0.1000 0.0400 0.0400 0.6625 1.0600
Balance sheet highlights
Total assets (period end) ............................... $54,450,652 $53,819,642 $51,554,665 $54,352,859 $54,697,468
Total long-term debt (period end)(2) ...................... 3,097,857 3,813,827 3,802,670 6,870,705 6,954,909
Total shareholders’ equity (period end) ................... 5,418,100 4,980,542 5,336,002 7,228,906 5,951,091
Average long-term debt(2) .............................. 3,275,913 3,953,177 5,558,001 7,374,681 5,714,572
Average shareholders’ equity ........................... 5,237,541 5,482,502 5,787,401 6,395,690 4,633,465
Average total assets ................................... 53,750,054 52,574,231 52,440,268 54,921,419 44,711,676
Key ratios and statistics
Margin analysis — as a % of average earnings assets
Interest income(3) .................................. 4.09% 4.55% 4.88% 5.90% 7.02%
Interest expense .................................... 0.70 1.11 1.77 2.65 3.66
Net interest margin(3) ................................ 3.38% 3.44% 3.11% 3.25% 3.36%
Return on average total assets ........................... 1.01% 0.59% (5.90)% (0.21)% 0.17%
Return on average common shareholders’ equity ............ 10.5 3.7 (80.8) (2.8) 1.6
Return on average tangible common shareholders’ equity(4) . . . 12.7 5.6 (22.4) (4.4) 3.9
Efficiency ratio(5) .................................... 63.7 60.4 55.4 57.0 62.5
Dividend payout ratio ................................. 16.9 21.1 N.R. N.R. 424.0
Average shareholders’ equity to average assets ............. 9.74 10.43 11.04 11.65 10.36
Effective tax rate (benefit) ............................. 23.3 11.3 (15.9) (61.6) N.R.
Tier 1 common risk-based capital ratio (period end)(8) ....... 10.00 9.29 6.69 5.05 5.70
Tangible common equity to tangible assets (period end)(6),
(8)............................................... 8.30 7.56 5.92 4.04 5.09
Tangible equity to tangible assets (period end)(7), (8) ........ 9.02 8.24 9.24 7.72 5.09
Tier 1 leverage ratio (period end) ........................ 10.28 9.41 10.09 9.82 6.77
Tier 1 risk-based capital ratio (period end) ................. 12.11 11.55 12.50 10.72 7.51
Total risk-based capital ratio (period end) ................. 14.77 14.46 14.55 13.91 10.85
Other data
Full-time equivalent employees (period end) ............... 11,245 11,341 10,272 10,951 11,925
Domestic banking offices (period end) .................... 668 620 611 613 625
N.R. — Not relevant, as denominator of calculation is a loss in prior period compared with income in current
period.
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