Huntington Bancshares Incorporated Annual report pursuant to Section 13 and 15(d)

Parent Company Financial Statements (Tables)

12 Months Ended

Dec. 31, 2013

Balance Sheets		December 31,
(dollar amounts in thousands)		2013		2012
Assets
Cash and cash equivalents	$	966,065	$	921,471
Due from The Huntington National Bank (1)		246,841		207,414
Due from non-bank subsidiaries		57,747		78,006
Investment in The Huntington National Bank		5,537,582		4,754,886
Investment in non-bank subsidiaries		587,388		774,055
Accrued interest receivable and other assets		295,206		131,358
Total assets	$	7,690,829	$	6,867,190

Liabilities and shareholders' equity
Long-term borrowings	$	1,034,266	$	662,894
Dividends payable, accrued expenses, and other liabilities		557,240		414,085
Total liabilities		1,591,506		1,076,979
Shareholders' equity (2)		6,099,323		5,790,211
Total liabilities and shareholders' equity	$	7,690,829	$	6,867,190

(1) Related to subordinated notes described in Note 12.
(2) See Consolidated Statements of Changes in Shareholders’ Equity.

Statements of Income				Year Ended December 31,
(dollar amounts in thousands)				2013		2012		2011
Income
	Dividends from
		Non-bank subsidiaries	$	55,473	$	36,450	$	68,491
	Interest from
		The Huntington National Bank		6,598		38,617		80,024
		Non-bank subsidiaries		3,129		5,420		8,741
	Other			2,148		1,409		1,231
Total income				67,348		81,896		158,487

Expense
	Personnel costs			52,846		42,745		37,630
	Interest on borrowings			20,739		28,926		35,295
	Other			36,728		35,415		37,122
Total expense				110,313		107,086		110,047

Income (loss) before income taxes and equity in undistributed net income of subsidiaries				(42,965)		(25,190)		48,440
Provision (benefit) for income taxes				(33,958)		(30,761)		(10,707)
Income (loss) before equity in undistributed net income of subsidiaries				(9,007)		5,571		59,147
Increase (decrease) in undistributed net income (loss) of:
	The Huntington National Bank			678,191		645,151		527,418
	Non-bank subsidiaries			(30,443)		(9,700)		(43,952)
Net income			$	638,741	$	641,022	$	542,613
Other comprehensive income (loss) (1)				(63,192)		22,946		23,733
Comprehensive income			$	575,549	$	663,968	$	566,346

(1) See Consolidated Statements of Comprehensive Income for other comprehensive income detail.


Statements of Cash Flows					Year Ended December 31,
(dollar amounts in thousands)					2013		2012		2011

Operating activities
	Net income			$	638,741	$	641,022	$	542,613
	Adjustments to reconcile net income to net cash
		provided by operating activities:
			Equity in undistributed net income of subsidiaries		(718,144)		(688,149)		(567,566)
			Depreciation and amortization		513		265		566
			Other, net		18,506		50,714		30,980
Net cash (used for) provided by operating activities					(60,384)		3,852		6,593

Investing activities
	Repayments from subsidiaries				285,792		591,923		(39,586)
	Advances to subsidiaries				(249,050)		(36,126)		485,863
Net cash (used for) provided by investing activities					36,742		555,797		446,277

Financing activities
	Proceeds from issuance of long-term borrowings				400,000		---		---
	Payment of borrowings				(50,000)		(236,885)		(5,100)
	Dividends paid on stock				(182,476)		(169,335)		(92,404)
	Repurchases of common stock				(124,995)		(148,881)		---
	Redemption of Warrant to the Treasury				---		---		(49,100)
	Other, net				25,707		(1,031)		(3,479)
Net cash provided by (used for) financing activities					68,236		(556,132)		(150,083)
Change in cash and cash equivalents					44,594		3,517		302,787
Cash and cash equivalents at beginning of year					921,471		917,954		615,167
Cash and cash equivalents at end of year				$	966,065	$	921,471	$	917,954

Supplemental disclosure:
	Interest paid			$	20,739	$	28,926	$	35,295