Huntington National Bank 2013 Annual Report Download - page 194

Download and view the complete annual report

Please find page 194 of the 2013 Huntington National Bank annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 204

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204

188
Listed below is certain operating basis financial information reconciled to Huntington’s 2013, 2012, and 2011 reported results by
business segment:
Retail & Regional &
Income Statements Business Commercial Treasury / Huntington
(dollar amounts in thousands) Banking Banking AFCRE WGH Other Consolidated
2013
N
et interest income $813,871 $276,480 $ 356,488 $172,033 $85,736 $1,704,608
Provision for credit losses 137,898 16,982 (71,312) 6,477 --- 90,045
N
oninterest income 392,797 140,639 34,099 299,588 130,872 997,995
N
oninterest expense 964,316 219,029 149,744 365,531 59,383 1,758,003
Provision (benefit) for income
taxes 36,559 63,388 109,254 34,865 (28,252) 215,814
N
et income $67,895 $117,720 $ 202,901 $64,748 $185,477 $638,741
2012
N
et interest income $870,146 $273,869 $ 356,442 $192,681 $17,386 $1,710,524
Provision for credit losses 136,061 10,689 (22,962) 23,600 --- 147,388
N
oninterest income 385,498 138,454 84,619 351,057 138,229 1,097,857
N
oninterest expense 982,378 203,000 154,480 376,239 119,779 1,835,876
Provision (benefit) for income
taxes 48,022 69,522 108,340 50,365 (92,154) 184,095
N
et income $89,183 $129,112 $ 201,203 $93,534 $127,990 $641,022
2011
N
et interest income $932,385 $244,392 $ 364,449 $199,536 $(111,592) $1,629,170
Provision for credit losses 120,018 11,013 (8,939) 51,967 --- 174,059
N
oninterest income 405,265 127,315 77,623 248,764 121,656 980,623
N
oninterest expense, 947,794 191,701 164,626 356,513 67,866 1,728,500
Provision (benefit) for income
taxes 94,443 59,147 100,234 13,937 (103,140) 164,621
N
et income $175,395 $109,846 $ 186,151 $25,883 $45,338 $542,613
Assets at Deposits at
December 31, December 31,
(dollar amounts in thousands) 2013 2012 2013 2012
Retail and Business Banking $ 14,471,854 $ 14,362,630 $ 28,313,803 $ 28,367,264
Regional and Commercial Banking 12,268,717 11,540,966 6,941,649 5,862,858
AFCRE 14,103,800 12,085,128 1,163,637 995,035
WGH 7,590,271 7,570,256 9,657,174 9,507,785
Treasury / Other 11,041,702 10,594,205 1,430,455 1,519,741
Total $ 59,476,344 $ 56,153,185 $ 47,506,718 $ 46,252,683
26. BUSINESS COMBINATIONS
On October 10, 2013, Huntington announced the signing of a definitive agreement to acquire Camco Financial, the parent
company of Cambridge Ohio-based Advantage Bank, in a cash and stock transaction valued at approximately $97 million. As of June
30, 2013, Camco operated 22 banking offices throughout eastern and southern Ohio with $0.8 billion in total assets and $0.6 billion in
total deposits. The transaction is expected to be completed in the first half of 2014, subject to the satisfaction of customary closing
conditions, including regulatory approvals and the approval of the shareholders of Camco Financial. Given the size and structure, the
transaction has a de minimis impact to tangible book value.