Huntington National Bank 2013 Annual Report Download - page 79
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73
x $12.3 million, or 6%, increase in deposit service charge income, primarily due to strong household and account growth,
offsetting a $27.5 million reduction in service charge revenue that resulted from our change in check posting order early in
2013.
x $10.3 million, or 13%, increase in electronic banking income, primarily due to strong consumer household growth combined
with increased consumer debit card activity.
Partially offset by:
x $10.0 million, or 17%, decrease in fee share revenue, primarily related to mortgage banking.
x $0.9 million, or 6%, decrease in gain on sale of loans.
The decrease in noninterest expense from the year-ago period reflected:
x $15.0 million, or 7%, decrease in personnel expenses in the branch network, primarily due to franchise repositioning expense
initiatives. In 2013, we continued initiatives to improve teller efficiency and install new deposit automation ATM’s.
x $11.9 million, or 20%, reduction in marketing expense, primarily due to lower levels of advertising and reduced promotional
offers.
x $4.2 million, or 13%, reduction in amortization of intangibles.
x $4.0 million, or 51%, reduction in professional services, primarily due to a decrease in outside consultant expenses and legal
services related to collections.
Partially offset by:
x $21.1 million, or 5%, increase in other expenses, primarily due to an increase in allocated overhead.
2012 vs. 2011
Retail and Business Banking reported net income of $89.2 million in 2012, compared with a net income of $175.4 million in
2011. The $86.2 million decrease included a $62.2 million, or 7%, decrease in net interest income, a $34.6 million, or 4%, increase in
noninterest expense, a $19.8 million, or 5%, decrease in noninterest income, and a $16.0 million, or 13%, decrease in the provision for
credit losses, partially offset by a $46.4 million, or 49%, decrease in the provision for income taxes.