Huntington National Bank 2014 Annual Report Download - page 91
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85
Provision for Credit Losses
The provision for credit losses decreased $21.8 million to $2.5 million in the 2014 fourth quarter reflecting the current quarter’s
higher-than-expected level of commercial recoveries and 34% decrease in NALs within the CRE portfolio. NCOs decreased to $23.0
million with less than $1.0 million of NCOs within the total commercial portfolio. NCOs equated to an annualized 0.20% of average
loans and leases in the current quarter compared to 0.43% in the year-ago quarter.
Noninterest Income
Table 44 - Noninterest Income - 2014 Fourth Quarter vs. 2013 Fourth Quarter
Fourth Quarter Change
(dollar amounts in thousands) 2014 2013 Amount Percent
Service charges on deposit accounts $ 67,408 $ 69,992 $ (2,584) (4) %
Trust services 28,781 30,711 (1,930) (6)
Electronic banking 27,993 24,251 3,742 15
Mortgage banking income 14,030 24,327 (10,297) (42)
Brokerage income 16,050 15,151 899 6
Insurance income 16,252 15,556 696 4
Bank owned life insurance income 14,988 13,816 1,172 8
Capital markets fees 13,791 12,332 1,459 12
Gain on sale of loans 5,408 7,144 (1,736) (24)
Securities gains (losses) (104) 1,239 (1,343) (108)
Other income 28,681 35,373 (6,692) (19)
Total noninterest income $ 233,278 $ 249,892 $ (16,614) (7) %
Noninterest income for the 2014 fourth quarter decreased $16.6 million, or 7%, from the year-ago quarter, primarily reflecting:
x $10.3 million, or 42%, decrease in mortgage banking income primarily related to the $5.8 million impact of net MSR
hedging activity.
x $6.7 million, or 19%, decrease in other income, primarily related to lower fees associated with commercial loan activity.
x $2.6 million, or 4%, decrease in service charges on deposit accounts, reflecting the late July 2014 implementation of changes
in consumer products that were partially offset by a 10% increase in consumer households and changing customer usage
patterns.
Partially offset by:
x $3.7 million, or 15%, increase in electronic banking due to higher card related income and underlying customer growth.