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HUNTINGTON BANCSHARES REPORTS RECORD EARNINGS FOR SECOND QUARTER AND FIRST HALF OF 1992

 HUNTINGTON BANCSHARES REPORTS RECORD EARNINGS
 FOR SECOND QUARTER AND FIRST HALF OF 1992
 COLUMBUS, Ohio, July 15 /PRNewswire/ -- Huntington Bancshares Incorporated (NASDAQ: HBAN) today reported net income of $33.6 million for the second quarter of 1992, an increase of 13.5 percent over the same period one year ago. The company earned $65.5 million in the first half of 1992, an 18.7 percent increase from the first six months of last year.
 On a per share basis, second quarter 1992 earnings were $.55 versus $.48 reported last year, an increase of 14.6 percent. Earnings per share for the first six months of 1992 were $1.06 compared with $.90 for the same period in 1991.
 Huntington previously announced a five-for-four stock split which will be distributed on July 31, 1992. The price of Huntington's common stock will reflect the stock split on Aug. 3, 1992. Earnings per share, adjusted for the stock split, were $.44 and $.39 in the second quarters of 1992 and 1991, respectively. Adjusted earnings per share for the first six months were $.85 in 1992 and $.72 in 1991.
 Huntington's profitability measures continued to improve. Return on average assets was 1.07 percent in the most recent quarter, compared with 1.01 percent in the second quarter of 1991. Return on average equity increased to 15.22 percent for the quarter versus 14.69 percent last year. This increase was achieved despite higher equity levels. Average common equity was 7.02 percent of average total assets in the second quarter of 1992 versus 6.85 percent last year.
 "We are very pleased with our results for the second quarter and first half of 1992. Not only did the company's earnings and profitability improve, but the balance sheet has been strengthened considerably. Our equity to assets ratio is the highest it has been in seventeen years," commented Frank Wobst, chairman and chief executive officer.
 Huntington's net interest income in the second quarter of 1992 was up 22.6 percent on a fully tax-equivalent basis from the corresponding quarter last year. Over the same period, the net interest margin rose 66 basis points to 5.21 percent. The net interest margin has increased for nine consecutive quarters.
 Non-interest income, excluding securities gains, rose 23.1 percent from the second quarter of 1991. This increase was due to record quarters reported by The Huntington Mortgage Company and The Huntington Investment Company, and greater service charge income.
 Huntington's asset quality measures strengthened during the second quarter. Non-performing assets declined to $168.2 million, or 2.10 percent of total loans at quarter-end, down from $220.1 million, or 2.81 percent of total loans at March 31, and $203.7 million, or 2.64 percent of total loans, one year ago. Non-performing loans were $107.9 million, or 1.36 percent of total loans, at June 30, 1992.
 Securities gains of $27.7 million, which resulted from a restructuring of the investment securities portfolio, were offset by higher provisions for loan losses and other real estate owned, which totalled $22.3 million and $30.9 million, respectively. Huntington's allowance for loan losses of $132.2 million at quarter- end represented 1.66 percent of total loans and 122.5 percent of non- performing loans.
 Huntington Bancshares is a $13 billion regional bank holding company headquartered in Columbus, Ohio. The company's banking subsidiaries operate 271 offices in Ohio, Florida, Indiana, Kentucky, Michigan, Pennsylvania and West Virginia. In addition, Huntington's mortgage, trust, investment banking and automobile finance subsidiaries manage 51 offices in the seven states mentioned as well as Connecticut, Delaware, Illinois, Maryland, Massachusetts, New Jersey, North Carolina, Rhode Island and Virginia.
 HUNTINGTON BANCSHARES INCORPORATED
 COMPARATIVE SUMMARY (CONSOLIDATED)
 (IN THOUSANDS OF DOLLARS)
 CONSOLIDATED RESULTS THREE MONTHS ENDED
 OF OPERATIONS JUNE 30 Change
 (fully tax equivalent basis) 1992 1991 (pct.)
 Interest Income $256,863 $267,770 (4.1)
 Interest Expense 106,457 145,106 (26.6)
 Net Interest Income 150,406 122,664 22.6
 Provision for Loan Losses 22,268 15,758 41.3
 Non-Interest Income 77,721 44,698 73.9
 Non-Interest Expense 153,864 106,001 45.2
 Provision for Income Taxes 15,327 12,206 25.6
 FTE Adjustment 3,033 3,759 (19.3)
 Net Income $33,635 $29,638 13.5
 PER COMMON SHARE AMOUNTS (A)
 Net Income
 Pre-stock split $0.55 $0.48 14.6
 Post-stock split $0.44 $0.39
 Cash Dividends Declared
 Pre-stock split $0.20 $0.19 5.3
 Post-stock split $0.16 $0.15
 Shareholders' Equity
 Per Common Share
 Pre-stock split $14.53 $13.28 9.4
 Post-stock split $11.62 $10.62
 Average Shares
 Outstanding (000s)
 Pre-stock split 61,674 61,571
 Post-stock split 77,092 76,964
 KEY RATIOS
 Return On:
 Average Total Assets 1.07 pct. 1.01 pct.
 Average Shareholders' Equity 15.22 pct. 14.69 pct.
 Net Interest Margin 5.21 pct. 4.55 pct.
 Average Equity/Average Assets 7.02 pct. 6.85 pct.
 Total Capital/Total Assets
 (period end) 9.05 pct. 8.67 pct.
 Tier I Risk-Based Capital Ratio
 (period end) 9.06 pct. 8.35 pct.
 Total Risk-Based Capital Ratio
 (period end) 11.36 pct. 11.02 pct.
 CONSOLIDATED RESULTS SIX MONTHS ENDED
 OF OPERATIONS JUNE 30 Change
 (fully tax equivalent basis) 1992 1991 (pct.)
 Interest Income $510,128 $534,219 (4.5)
 Interest Expense 221,558 294,256 (24.7)
 Net Interest Income 288,570 239,963 20.3
 Provision for Loan Losses 39,282 33,057 18.8
 Non-Interest Income 125,873 84,827 48.4
 Non-Interest Expense 273,456 205,736 32.9
 Provision for Income Taxes 30,040 23,180 29.6
 FTE Adjustment 6,123 7,599 (19.4)
 Net Income $65,542 $55,218 18.7
 PER COMMON SHARE AMOUNTS (A)
 Net Income
 Pre-stock split $1.06 $0.90 17.8
 Post-stock split $0.85 $0.72
 Cash Dividends Declared
 Pre-stock split $0.40 $0.38 5.3
 Post-stock split $0.32 $0.30
 Shareholders' Equity
 Per Common Share
 Pre-stock split $14.53 $13.28 9.4
 Post-stock split $11.62 $10.62
 Average Shares
 Outstanding (000s)
 Pre-stock split 61,591 61,579
 Post-stock split 76,989 76,974
 KEY RATIOS
 Return On:
 Average Total Assets 1.05 pct. 0.96 pct.
 Average Shareholders' Equity 15.04 pct. 13.87 pct.
 Net Interest Margin 5.08 pct. 4.53 pct.
 Average Equity/Average Assets 7.01 pct. 6.91 pct.
 Total Capital/Total Assets
 (period end) 9.05 pct. 8.67 pct.
 Tier I Risk-Based Capital Ratio
 (period end) 9.06 pct. 8.35 pct.
 Total Risk-Based Capital Ratio
 (period end) 11.36 pct. 11.02 pct.
 CONSOLIDATED STATEMENT
 OF CONDITION DATA At June 30 Change
 1992 1991 (pct.)
 Total Loans $ 7,942,350 $ 7,601,602 4.5
 Total Deposits $ 9,794,829 $ 9,378,923 4.4
 Total Assets $12,682,016 $ 12,279,438 3.3
 Shareholders' Equity $ 896,040 $ 817,237 9.6
 ASSET QUALITY
 Non-performing loans $ 107,940 $ 98,730
 Total non-performing
 assets $ 168,244 $ 203,662
 Allowance/total loans 1.66 pct. 1.62 pct.
 Allowance/non-performing loans 122.46 pct. 124.88 pct.
 (A) -- Post-stock split amounts have been adjusted for the five- for-four stock split which will be distibuted on July 31, 1992. Huntington's common stock will reflect the stock split on Aug. 3, 1992.
 -0- 7/15/92
 /CONTACT: Debra Dendahl Hadley of Huntington Bancshares Incorporated, 614-463-4304/
 (HBAN) CO: Huntington Bancshares Incorporated ST: Ohio IN: FIN SU: ERN


KK -- CL015 -- 9648 07/15/92 15:01 EDT
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