Huntington National Bank 2014 Annual Report Download - page 194
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188
22. PARENT COMPANY FINANCIAL STATEMENTS
The parent company financial statements, which include transactions with subsidiaries, are as follows:
Balance Sheets December 31,
(dollar amounts in thousands) 2014 2013
Assets
Cash and cash equivalents $ 662,768 $ 966,065
Due from The Huntington National Bank 276,851 246,841
Due from non-bank subsidiaries 51,129 57,747
Investment in The Huntington National Bank 6,073,408 5,537,582
Investment in non-bank subsidiaries 509,114 587,388
Accrued interest receivable and other assets 279,366 286,036
Total assets $ 7,852,636 $ 7,681,659
Liabilities and shareholders' equity
Long-term borrowings $ 1,046,105 $ 1,034,266
Dividends payable, accrued expenses, and other liabilities 478,361 557,240
Total liabilities 1,524,466 1,591,506
Shareholders' equity (1) 6,328,170 6,090,153
Total liabilities and shareholders' equity $ 7,852,636 $ 7,681,659
(1) See Consolidated Statements of Changes in Shareholders’ Equity.
Statements of Income Year Ended December 31,
(dollar amounts in thousands) 2014 2013 2012
Income
Dividends from
The Huntington National Bank $ 244,000 $ --- $ ---
N
on-bank subsidiaries 27,773 55,473 36,450
Interest from
The Huntington National Bank 3,906 6,598 38,617
N
on-bank subsidiaries 2,613 3,129 5,420
Other 2,994 2,148 1,409
Total income 281,286 67,348 81,896
Expense
Personnel costs 53,359 52,846 42,745
Interest on borrowings 17,031 20,739 28,926
Other 52,662 36,728 35,415
Total expense 123,052 110,313 107,086
Income (loss) before income taxes and equity in undistributed net income of subsidiaries 158,234 (42,965) (25,190)
Provision (benefit) for income taxes (62,897) (22,298) (12,565)
Income (loss) before equity in undistributed net income of subsidiaries 221,131 (20,667) (12,625)
Increase (decrease) in undistributed net income (loss) of:
The Huntington National Bank 414,049 692,392 653,615
N
on-bank subsidiaries (2,788) (30,443) (9,700)
N
et income $ 632,392 $ 641,282 $ 631,290
Other comprehensive income (loss) (1) (8,283) (63,192) 22,946
Comprehensive income $ 624,109 $ 578,090 $ 654,236
(1) See Consolidated Statements of Comprehensive Income for other comprehensive income (loss) detail.