Huntington National Bank 2012 Annual Report Download - page 83
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75
Treasury / Other
The Treasury / Other function includes revenue and expense related to our insurance business, and assets, liabilities, and equity
not directly assigned or allocated to one of the four business segments. Other assets include investment securities and bank owned life
insurance. The financial impact associated with our FTP methodology, as described above, is also included.
Net interest income includes the impact of administering our investment securities portfolios and the net impact of derivatives
used to hedge interest rate sensitivity. Noninterest income includes insurance income, miscellaneous fee income not allocated to other
business segments, such as bank owned life insurance income and any investment security and trading asset gains or losses.
Noninterest expense includes any insurance-related expenses, as well as certain corporate administrative, merger, and other
miscellaneous expenses not allocated to other business segments. The provision for income taxes for the business segments is
calculated at a statutory 35% tax rate, though our overall effective tax rate is lower. As a result, Treasury / Other reflects a credit for
income taxes representing the difference between the lower actual effective tax rate and the statutory tax rate used to allocate income
taxes to the business segments.
The $82.7 million, or 182%, year over year increase in net income for Treasury/Other was primarily the result of the FTP process
described above, partially offset by an increase in personnel costs.
Net Income by Business Segment
The segregation of net income by business segment for the past three years is presented in the following table:
Table 39 - Net Income by Business Segment
Year ended December 31,
(dollar amounts in thousands) 2012 2011 2010
Retail and Business Banking $ 89,183 $ 175,395 $ 131,036
Regional and Commercial Banking 129,112 109,846 38,462
AFCRE 201,203 186,151 46,492
WGH 93,534 25,883 34,801
Treasury / Other 127,990 45,338 61,556
Total net income $ 641,022 $ 542,613 $ 312,347