Huntington National Bank 2014 Annual Report Download - page 107

101
Huntington Bancshares Incorporated
Consolidated Statements of Income
Year Ended December 31,
(
dollar amounts in thousands, exce
p
t
p
er share amounts
)
2014 2013 2012
Interest and fee income:
Loans and leases $ 1,674,563 $ 1,629,939 $ 1,675,295
Available-for-sale and other securities
Taxable 171,080 148,557 184,340
Tax-exem
p
t 28,965 12,678 8,999
Hel
d
-to-maturit
y
securities 88,724 50,214 24,088
Othe
r
13,130 19,249 37,541
Total interest income 1,976,462 1,860,637 1,930,263
Interest ex
p
ense
De
p
osits 86,453 116,241 162,167
Short-term borrowin
g
s 2,940 700 2,048
Federal Home Loan Bank advances 1,011 1,077 819
Subordinated notes and other lon
g
-term debt 48,917 38,011 54,705
Total interest expense 139,321 156,029 219,739
N
et interest income 1,837,141 1,704,608 1,710,524
Provision for credit losses 80,989 90,045 147,388
N
et interest income after provision for credit losses 1,756,152 1,614,563 1,563,136
Service char
g
es on de
p
osit accounts 273
,
741 271
,
802 262
,
179
Trust services 115,972 123,007 121,897
Electronic bankin
g
105,401 92,591 82,290
Mort
g
a
g
e bankin
g
income 84,887 126,855 191,092
Brokera
g
e income 68,277 69,624 72,684
Insurance income 65,473 69,264 71,319
Bank owned life insurance income 57,048 56,419 56,042
Ca
p
ital markets fees 43,731 45,220 48,160
Gain on sale of loans 21,091 18,171 58,182
N
et
g
ains on sales of securities 17,554 2,220 6,388
Im
p
airment losses reco
g
nized in earnin
g
s on available-fo
r
-sale securities
(
a
)
---
(
1,802
)
(
1,619
)
Other income 126,004 138,825 137,707
Total noninterest income 979,179 1,012,196 1,106,321
Personnel costs 1
,
048
,
775 1
,
001
,
637 988
,
193
Outside data
p
rocessin
g
and other services 212,586 199,547 190,255
N
et occu
p
anc
y
128,076 125,344 111,160
E
q
ui
p
ment 119,663 106,793 102,947
Professional services 59,555 40,587 65,758
Marketin
g
50,560 51,185 64,263
De
p
osit and other insurance ex
p
ense 49,044 50,161 68,330
Amortization of intan
g
ibles 39,277 41,364 46,549
Gain on earl
y
extin
g
uishment of debt --- ---
(
798
)
Other ex
p
ense 174,810 141,385 199,219
Total noninterest expense 1,882,346 1,758,003 1,835,876
Income before income taxes 852,985 868,756 833,581
Provision for income taxes 220,593 227,474 202,291
N
et income 632,392 641,282 631,290
Dividends on preferred shares 31,854 31,869 31,989
N
et income applicable to common shares $ 600,538 $ 609,413 $ 599,301
Avera
g
e common shares -
b
asic 819
,
917 834
,
205 857
,
962
Avera
g
e common shares - dilute
d
833,081 843,974 863,402
Per common share:
N
et income -
b
asic $ 0.73 $ 0.73 $ 0.70
N
et income - dilute
d
0.72 0.72 0.69
Cash dividends declare
d
0.21 0.19 0.16
(
a
)
The followin
g
OTTI losses are included in securities losses for the
p
eriods
p
resented:
Total OTTI losses $ --- $
(
1
,
870
)
$
(
1
,
886
)
N
oncredit-related
p
ortion of loss reco
g
nized in OCI --- 68 267
N
et im
p
airment credit losses reco
g
nized in earnin
g
s $ --- $
(
1
,
802
)
$
(
1
,
619
)
See Notes to Consolidated Financial Statements