Huntington National Bank 2015 Annual Report Download - page 43

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Table 2 - Selected Annual Income Statements(1)
(dollar amounts in thousands, except per share amounts)
Year Ended December 31,
Change from 2014 Change from 2013
2015 Amount Percent 2014 Amount Percent 2013
Interest income $ 2,114,521 $ 138,059 7 % $ 1,976,462 $ 115,825 6 % $ 1,860,637
Interest expense 163,784 24,463 18 139,321 (16,708) (11) 156,029
Net interest income 1,950,737 113,596 6 1,837,141 132,533 8 1,704,608
Provision for credit losses 99,954 18,965 23 80,989 (9,056) (10) 90,045
Net interest income after provision for credit
losses 1,850,783 94,631 5 1,756,152 141,589 9 1,614,563
Service charges on deposit accounts 280,349 6,608 2 273,741 1,939 1 271,802
Cards and payment processing income 142,715 37,314 35 105,401 12,810 14 92,591
Mortgage banking income 111,853 26,966 32 84,887 (41,968) (33) 126,855
Trust services 105,833 (10,139) (9) 115,972 (7,035) (6) 123,007
Insurance income 65,264 (209) — 65,473 (3,791) (5) 69,264
Brokerage income 60,205 (8,072) (12) 68,277 (1,347) (2) 69,624
Capital markets fees 53,616 9,885 23 43,731 (1,489) (3) 45,220
Bank owned life insurance income 52,400 (4,648) (8) 57,048 629 1 56,419
Gain on sale of loans 33,037 11,946 57 21,091 2,920 16 18,171
Securities gains (losses) 744 (16,810) (96) 17,554 17,136 4,100 418
Other income 132,714 6,710 5 126,004 (12,821) (9) 138,825
Total noninterest income 1,038,730 59,551 6 979,179 (33,017) (3) 1,012,196
Personnel costs 1,122,182 73,407 7 1,048,775 47,138 5 1,001,637
Outside data processing and other services 231,353 18,767 9 212,586 13,039 7 199,547
Equipment 124,957 5,294 4 119,663 12,870 12 106,793
Net occupancy 121,881 (6,195) (5) 128,076 2,732 2 125,344
Marketing 52,213 1,653 3 50,560 (625) (1) 51,185
Professional services 50,291 (9,264) (16) 59,555 18,968 47 40,587
Deposit and other insurance expense 44,609 (4,435) (9) 49,044 (1,117) (2) 50,161
Amortization of intangibles 27,867 (11,410) (29) 39,277 (2,087) (5) 41,364
Other expense 200,555 25,745 15 174,810 33,425 24 141,385
Total noninterest expense 1,975,908 93,562 5 1,882,346 124,343 7 1,758,003
Income before income taxes 913,605 60,620 7 852,985 (15,771) (2) 868,756
Provision for income taxes 220,648 55 — 220,593 (6,881) (3) 227,474
Net income 692,957 60,565 10 632,392 (8,890) (1) 641,282
Dividends on preferred shares 31,873 19 — 31,854 (15) — 31,869
Net income applicable to common shares $ 661,084 $ 60,546 10 % $ 600,538 $ (8,875) (1)% $ 609,413
Average common shares—basic 803,412 (16,505) (2)% 819,917 (14,288) (2)% 834,205
Average common shares—diluted 817,129 (15,952) (2) 833,081 (10,893) (1) 843,974
Per common share:
Net income—basic $ 0.82 $ 0.09 12 % $ 0.73 $ — — % $ 0.73
Net income—diluted 0.81 0.09 13 0.72 — — 0.72
Cash dividends declared 0.25 0.04 19 0.21 0.02 11 0.19
Revenue—FTE
Net interest income $ 1,950,737 $ 113,596 6 % $ 1,837,141 $ 132,533 8 % $ 1,704,608
FTE adjustment 32,115 4,565 17 27,550 210 1 27,340
Net interest income(2) 1,982,852 118,161 6 1,864,691 132,743 8 1,731,948
Noninterest income 1,038,730 59,551 6 979,179 (33,017) (3) 1,012,196
Total revenue(2) $ 3,021,582 $ 177,712 6 % $ 2,843,870 $ 99,726 4 % $ 2,744,144
(1) Comparisons for presented periods are impacted by a number of factors. Refer to “Significant Items”.
(2) On a fully-taxable equivalent (FTE) basis assuming a 35% tax rate.