Huntington National Bank 2014 Annual Report Download - page 80
Download and view the complete annual report
Please find page 80 of the 2014 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.-
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
-
205
-
206
-
207
-
208
 |
 |
74
The increase in total average deposits from the year-ago period reflected:
x $237 million deposit growth from our In-store branch network.
x A continued focus on product mix in reducing the overall cost of deposits as evidenced by an increase in money market and
noninterest bearing deposits, partially offset by a decrease in core certificates of deposit. In addition, the acquisition of
Camco Financial and 24 Bank of America branches contributed to the deposit increase.
The increase in noninterest income from the year-ago period reflected:
x $12.8 million, or 14%, increase in electronic banking income, primarily due to strong consumer household growth combined
with increased consumer card activity.
x $3.6 million, or 15%, increase in other income, primarily due to various branch transaction based fees.
x $2.9 million, or 19%, increase in gain on sale of loans, primarily due to the increased origination and sale of SBA loans.
Partially offset by:
x $8.0 million, or 36%, decrease in mortgage banking fee share income.
The increase in noninterest expense from the year-ago period reflected:
x $28.3 million, or 7%, increase in other noninterest expense, primarily due to increased allocated overhead expenses.
x $5.2 million, or 14%, increase in outside data processing and other services expense, mainly the result of transaction costs
associated with card activity.
x $3.9 million, or 11%, increase in equipment expense, primarily due to technology investments.
Partially offset by:
x $10.4 million, or 4%, decrease in personnel costs, primarily due to the pension plan curtailment in 2013, branch
consolidations, and various efficiency improvement initiatives also contributed to the decrease in personnel costs.
x $7.1 million, or 46%, reduction in deposit and other insurance.
x $1.5 million, or 3%, reduction in marketing, primarily due to reduced direct mail advertising.
2013 vs. 2012
Retail and Business Banking reported net income of $129.0 million in 2013, compared with a net income of $139.0 million in
2012. The $10.0 million decrease included a $39.3 million, or 4%, decrease in net interest income, partially offset by a $17.2 million,
or 5%, increase noninterest income, and a $9.5 million, or 1%, decrease in noninterest expense.