Huntington National Bank 2014 Annual Report Download - page 45
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39
2013 vs. 2012
Noninterest income decreased $94.1 million, or 9%, from the prior year, primarily reflecting:
x $64.2 million, or 34%, decrease in mortgage banking income primarily driven by 9% reduction in volume, lower gain on sale
margin, and a higher percentage of originations held on the balance sheet.
x $40.0 million, or 69%, decrease in gain on sale of loans as no auto loan securitizations occurred in 2013 compared to $2.3
billion of auto loan securitizations in 2012.
x $4.4 million, or 91%, decrease in securities gains as the prior year had certain securities designated as available-for-sale that
were sold and the proceeds from those sales were reinvested into the held-to-maturity portfolio.
Partially offset by:
x $10.3 million, or 13%, increase in electronic banking income due to continued consumer household growth.
x $9.6 million, or 4%, increase in service charges on deposit accounts reflecting 8% consumer household and 6% commercial
relationship growth and changing customer usage patterns. This more than offset the approximately $28.0 million negative
impact of the February 2013 implementation of a new posting order for consumer transaction accounts.
x $1.1 million, or 1%, increase in other income. In accordance with ASC 323-740, the low income housing tax credit
investment amortization expense is now presented as a component of provision for income taxes. Previously, the
amortization expense was included in other income. This change resulted in higher other income. In addition, there was an
increase in fees associated with commercial loan activity. These increases were partially offset by an $11.2 million bargain
purchase gain associated with the FDIC-assisted Fidelity Bank acquisition in the prior year.