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

Parent Company Financial Statements (Tables)

12 Months Ended

Dec. 31, 2014

Balance Sheets	December 31,
(dollar amounts in thousands)	2014		2013
Assets
Cash and cash equivalents	$	662,768	$	966,065
Due from The Huntington National Bank		276,851		246,841
Due from non-bank subsidiaries		51,129		57,747
Investment in The Huntington National Bank		6,073,408		5,537,582
Investment in non-bank subsidiaries		509,114		587,388
Accrued interest receivable and other assets		279,366		286,036
Total assets	$	7,852,636	$	7,681,659

Liabilities and shareholders' equity
Long-term borrowings	$	1,046,105	$	1,034,266
Dividends payable, accrued expenses, and other liabilities		478,361		557,240
Total liabilities		1,524,466		1,591,506
Shareholders' equity (1)		6,328,170		6,090,153
Total liabilities and shareholders' equity	$	7,852,636	$	7,681,659

(1) See Consolidated Statements of Changes in Shareholders’ Equity.

Statements of Income			Year Ended December 31,
(dollar amounts in thousands)			2014		2013		2012
Income
	Dividends from
		The Huntington National Bank	$	244,000	$	---	$	---
		Non-bank subsidiaries		27,773		55,473		36,450
	Interest from
		The Huntington National Bank		3,906		6,598		38,617
		Non-bank subsidiaries		2,613		3,129		5,420
	Other			2,994		2,148		1,409
Total income				281,286		67,348		81,896

Expense
	Personnel costs			53,359		52,846		42,745
	Interest on borrowings			17,031		20,739		28,926
	Other			52,662		36,728		35,415
Total expense				123,052		110,313		107,086

Income (loss) before income taxes and equity in undistributed net income of subsidiaries				158,234		(42,965)		(25,190)
Provision (benefit) for income taxes				(62,897)		(22,298)		(12,565)
Income (loss) before equity in undistributed net income of subsidiaries				221,131		(20,667)		(12,625)
Increase (decrease) in undistributed net income (loss) of:
	The Huntington National Bank			414,049		692,392		653,615
	Non-bank subsidiaries			(2,788)		(30,443)		(9,700)
Net income			$	632,392	$	641,282	$	631,290
Other comprehensive income (loss) (1)				(8,283)		(63,192)		22,946
Comprehensive income			$	624,109	$	578,090	$	654,236

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


Statements of Cash Flows				Year Ended December 31,
(dollar amounts in thousands)				2014		2013		2012

Operating activities
	Net income			$	632,392	$	641,282	$	631,290
	Adjustments to reconcile net income to net cash
		provided by operating activities:
			Equity in undistributed net income of subsidiaries		(411,261)		(718,144)		(688,149)
			Depreciation and amortization		548		513		265
			Other, net		26,685		15,965		60,446
Net cash (used for) provided by operating activities					248,364		(60,384)		3,852

Investing activities
	Repayments from subsidiaries				9,250		285,792		591,923
	Advances to subsidiaries				(32,350)		(249,050)		(36,126)
	Cash paid for acquisitions, net of cash received				(13,452)		---		---
Net cash (used for) provided by investing activities					(36,552)		36,742		555,797

Financing activities
	Proceeds from issuance of long-term borrowings				---		400,000		---
	Payment of borrowings				---		(50,000)		(236,885)
	Dividends paid on stock				(198,789)		(182,476)		(169,335)
	Net proceeds from issuance of common stock				2,597		---		---
	Repurchases of common stock				(334,429)		(124,995)		(148,881)
	Other, net				15,512		25,707		(1,031)
Net cash provided by (used for) financing activities					(515,109)		68,236		(556,132)
Change in cash and cash equivalents					(303,297)		44,594		3,517
Cash and cash equivalents at beginning of year					966,065		921,471		917,954
Cash and cash equivalents at end of year				$	662,768	$	966,065	$	921,471

Supplemental disclosure:
	Interest paid			$	21,321	$	20,739	$	28,926