Parent Company Financial Statements (Tables)
|
12 Months Ended |
Dec. 31, 2012
|
Parent Company Financial Statements [Abstract] |
|
Balance Sheets |
Balance Sheets |
|
December 31, |
(dollar amounts in thousands) |
|
2012 |
|
|
2011 |
Assets |
|
|
|
|
|
Cash and cash equivalents (1) |
$ |
921,471 |
|
$ |
917,954 |
Due from The Huntington National Bank (2) |
|
207,414 |
|
|
616,565 |
Due from non-bank subsidiaries |
|
78,006 |
|
|
188,732 |
Investment in The Huntington National Bank |
|
4,754,886 |
|
|
4,073,722 |
Investment in non-bank subsidiaries |
|
774,055 |
|
|
759,532 |
Accrued interest receivable and other assets |
|
131,358 |
|
|
139,076 |
Total assets |
$ |
6,867,190 |
|
$ |
6,695,581 |
|
|
|
|
|
|
Liabilities and shareholders' equity |
|
|
|
|
|
Long-term borrowings |
$ |
662,894 |
|
$ |
899,779 |
Dividends payable, accrued expenses, and other liabilities |
|
414,085 |
|
|
377,702 |
Total liabilities |
|
1,076,979 |
|
|
1,277,481 |
Shareholders' equity (3) |
|
5,790,211 |
|
|
5,418,100 |
Total liabilities and shareholders' equity |
$ |
6,867,190 |
|
$ |
6,695,581 |
|
|
|
|
|
|
(1) Includes restricted cash of $125,000 at December 31, 2011. |
|
|
|
|
|
(2) Related to subordinated notes described in Note 12. |
|
|
|
|
|
(3) See Consolidated Statements of Changes in Shareholders’ Equity. |
|
|
|
|
|
|
Statements of Income |
Statements of Income |
|
Year Ended December 31, |
(dollar amounts in thousands) |
|
2012 |
|
|
2011 |
|
|
2010 |
Income |
|
|
|
|
|
|
|
|
|
Dividends from |
|
|
|
|
|
|
|
|
|
|
Non-bank subsidiaries |
$ |
36,450 |
|
$ |
68,491 |
|
$ |
33,000 |
|
Interest from |
|
|
|
|
|
|
|
|
|
|
The Huntington National Bank |
|
38,617 |
|
|
80,024 |
|
|
82,749 |
|
|
Non-bank subsidiaries |
|
5,420 |
|
|
8,741 |
|
|
12,185 |
|
Other |
|
1,409 |
|
|
1,231 |
|
|
2,987 |
Total income |
|
81,896 |
|
|
158,487 |
|
|
130,921 |
|
|
|
|
|
|
|
|
|
|
|
Expense |
|
|
|
|
|
|
|
|
|
Personnel costs |
|
42,745 |
|
|
37,630 |
|
|
30,334 |
|
Interest on borrowings |
|
28,926 |
|
|
35,295 |
|
|
23,765 |
|
Other |
|
35,415 |
|
|
37,122 |
|
|
49,019 |
Total expense |
|
107,086 |
|
|
110,047 |
|
|
103,118 |
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before income taxes and equity in undistributed net income of subsidiaries |
|
(25,190) |
|
|
48,440 |
|
|
27,803 |
Provision (benefit) for income taxes |
|
(30,761) |
|
|
(10,707) |
|
|
48,505 |
Income (loss) before equity in undistributed net income of subsidiaries |
|
5,571 |
|
|
59,147 |
|
|
(20,702) |
Increase (decrease) in undistributed net income (loss) of: |
|
|
|
|
|
|
|
|
|
The Huntington National Bank |
|
645,151 |
|
|
527,418 |
|
|
344,961 |
|
Non-bank subsidiaries |
|
(9,700) |
|
|
(43,952) |
|
|
(11,912) |
Net income |
$ |
641,022 |
|
$ |
542,613 |
|
$ |
312,347 |
Other comprehensive income (loss) (1) |
|
22,946 |
|
|
23,733 |
|
|
(36,262) |
Comprehensive income |
$ |
663,968 |
|
$ |
566,346 |
|
$ |
276,085 |
|
|
|
|
|
|
|
|
|
|
|
(1) See Consolidated Statements of Comprehensive Income for other comprehensive income(loss) detail. |
|
Statements of Cash Flows |
|
|
|
|
|
|
|
|
|
|
|
|
Statements of Cash Flows |
|
Year Ended December 31, |
(dollar amounts in thousands) |
|
2012 |
|
|
2011 |
|
|
2010 |
|
|
|
|
|
|
|
|
|
|
|
|
Operating activities |
|
|
|
|
|
|
|
|
|
Net income |
$ |
641,022 |
|
$ |
542,613 |
|
$ |
312,347 |
|
Adjustments to reconcile net income to net cash |
|
|
|
|
|
|
|
|
|
|
provided by operating activities: |
|
|
|
|
|
|
|
|
|
|
|
Equity in undistributed net income of subsidiaries |
|
(688,149) |
|
|
(567,566) |
|
|
(351,049) |
|
|
|
Depreciation and amortization |
|
265 |
|
|
566 |
|
|
685 |
|
|
|
Other, net |
|
50,714 |
|
|
30,980 |
|
|
(74,802) |
Net cash (used for) provided by operating activities |
|
3,852 |
|
|
6,593 |
|
|
(112,819) |
|
|
|
|
|
|
|
|
|
|
|
|
Investing activities |
|
|
|
|
|
|
|
|
|
Repayments from (advances to) subsidiaries |
|
(36,126) |
|
|
(39,586) |
|
|
129,081 |
|
Advances to subsidiaries |
|
591,923 |
|
|
485,863 |
|
|
(425,600) |
Net cash (used for) provided by investing activities |
|
555,797 |
|
|
446,277 |
|
|
(296,519) |
|
|
|
|
|
|
|
|
|
|
|
|
Financing activities |
|
|
|
|
|
|
|
|
|
Proceeds from issuance of long-term borrowings |
|
--- |
|
|
--- |
|
|
297,375 |
|
Payment of borrowings |
|
(236,885) |
|
|
(5,100) |
|
|
(1,191) |
|
Dividends paid on stock |
|
(169,335) |
|
|
(92,404) |
|
|
(136,499) |
|
Payment to repurchase preferred stock |
|
--- |
|
|
--- |
|
|
(1,398,071) |
|
Proceeds from issuance of common stock |
|
--- |
|
|
--- |
|
|
886,172 |
|
Repurchases of common stock |
|
(148,881) |
|
|
--- |
|
|
--- |
|
Redemption of Warrant to the Treasury |
|
--- |
|
|
(49,100) |
|
|
--- |
|
Other, net |
|
(1,031) |
|
|
(3,479) |
|
|
180 |
Net cash provided by (used for) financing activities |
|
(556,132) |
|
|
(150,083) |
|
|
(352,034) |
Change in cash and cash equivalents |
|
3,517 |
|
|
302,787 |
|
|
(761,372) |
Cash and cash equivalents at beginning of year |
|
917,954 |
|
|
615,167 |
|
|
1,376,539 |
Cash and cash equivalents at end of year |
$ |
921,471 |
|
$ |
917,954 |
|
$ |
615,167 |
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental disclosure: |
|
|
|
|
|
|
|
|
|
Interest paid |
$ |
28,926 |
|
$ |
35,295 |
|
$ |
23,765 |
|