Quarterly report pursuant to Section 13 or 15(d)

Parent Company Financial Statements (Tables)

v2.4.0.8
Parent Company Financial Statements (Tables)
3 Months Ended
Mar. 31, 2014
Parent Company Financial Statements [Abstract]  
Balance Sheets
Balance Sheets   March 31,     December 31,  
(dollar amounts in thousands)   2014     2013  
Assets            
Cash and cash equivalents $ 765,465   $ 966,065  
Due from The Huntington National Bank   246,841     246,841  
Due from non-bank subsidiaries   58,795     57,747  
Investment in The Huntington National Bank   5,803,570     5,537,582  
Investment in non-bank subsidiaries   593,887     587,388  
Accrued interest receivable and other assets   307,759     286,037  
Total assets $ 7,776,317   $ 7,681,660  
             
Liabilities and Shareholders' Equity            
Long-term borrowings   1,040,720     1,034,266  
Dividends payable, accrued expenses, and other liabilities   559,363     557,240  
Total liabilities   1,600,083     1,591,506  
Shareholders' equity (1)   6,176,234     6,090,154  
Total liabilities and shareholders' equity $ 7,776,317   $ 7,681,660  
             
(1) See Huntington’s Unaudited Condensed Consolidated Statements of Changes in Shareholders’ Equity.
 
Statements of Income
        Three Months Ended
Statements of Income   March 31,
(dollar amounts in thousands)   2014     2013
Income          
  Dividends from          
    The Huntington National Bank $ ---   $ ---
    Non-bank subsidiaries   1,819     ---
  Interest from          
    The Huntington National Bank   997     4,152
    Non-bank subsidiaries   699     821
  Other   1,602     396
Total income   5,117     5,369
               
Expense          
  Personnel costs   11,177     13,413
  Interest on borrowings   4,252     6,117
  Other   15,997     5,064
Total expense   31,426     24,594
               
Income (loss) before income taxes and equity in undistributed net income of subsidiaries   (26,309)     (19,225)
Income taxes (benefit)   (14,347)     (4,937)
Income (loss) before equity in undistributed net income of subsidiaries   (11,962)     (14,288)
Increase in undistributed net income of:          
  The Huntington National Bank   157,229     160,045
  Non-bank subsidiaries   3,876     7,517
Net income $ 149,143   $ 153,274
               
Other comprehensive income (loss) (1)   12,262     (9,138)
Comprehensive income $ 161,405   $ 144,136
               
(1)See Huntington's Unaudited Condensed Consolidated Statements of Comprehensive Income for other comprehensive income
(loss) detail.
Statements of Cash Flows
          Three Months Ended
Statements of Cash Flows   March 31,
(dollar amounts in thousands)   2014     2013
                 
Operating activities          
  Net income $ 149,143   $ 153,274
  Adjustments to reconcile net income to net cash provided by operating activities          
      Equity in undistributed net income of subsidiaries   (165,501)     (167,048)
      Depreciation and amortization   110     70
      Other, net   1,464     19,363
Net cash provided by (used for) operating activities   (14,784)     5,659
                 
Investing activities          
  Repayments from subsidiaries   2,685     112,469
  Advances to subsidiaries   (350)     (1,250)
  Cash paid for acquisition, net of cash received   (13,452)     ---
Net cash provided by (used for) investing activities   (11,117)     111,219
                 
Financing activities          
  Dividends paid on stock   (49,110)     (41,656)
  Repurchases of common stock   (136,137)     (33,600)
  Proceeds from issuance of common stock   2,597     ---
  Other, net   7,951     1,600
Net cash provided by (used for) financing activities   (174,699)     (73,656)
Change in cash and cash equivalents   (200,600)     43,222
Cash and cash equivalents at beginning of period   966,065     921,471
Cash and cash equivalents at end of period $ 765,465   $ 964,693
                 
Supplemental disclosure:          
  Interest paid $ 4,252   $ 6,117