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HUNTINGTON BANCSHARES REPORTS RECORD EARNINGS FOR THIRD QUARTER AND FIRST NINE MONTHS OF 1992

 HUNTINGTON BANCSHARES REPORTS RECORD EARNINGS FOR
 THIRD QUARTER AND FIRST NINE MONTHS OF 1992
 COLUMBUS, Ohio, Oct. 13 /PRNewswire/ -- Huntington Bancshares Incorporated (NASDAQ: HBAN) today reported net income of $34.9 million for the third quarter of 1992, an increase of 16.1 percent over the same period one year ago. The company earned $100.4 million in the first three quarters of 1992, a 17.8 percent increase from the year ago period.
 On a per share basis, third quarter 1992 earnings were $.45 versus $.39 reported last year, an increase of 15.4 percent. Earnings per share for the first nine months of 1992 were $1.30 compared with $1.11 for the same period in 1991.
 "The company's third quarter performance was driven by strong net interest income and rising levels of fee-based income," commented Frank Wobst, chairman and chief executive officer. "Huntington's net interest margin registered its tenth consecutive increase to 5.37 percent and helped to boost net interest income by 29.6 percent over the third quarter of 1991. Non-interest income, excluding securities gains, rose 27.8 percent above last year's level due in part to the continued success of fee-based businesses, such as The Huntington Mortgage Company."
 The company's higher earnings boosted profitability measures. Return on average assets was 1.07 percent in the most recent quarter, compared with 1.03 percent in the third quarter of 1991. Return on average equity increased to 15.24 percent for the quarter versus 14.45 percent last year. This increase was achieved despite higher levels of average total assets and average total equity.
 Huntington's asset quality measures have improved considerably from year-end. At Sept. 30, non-performing assets of $170.2 million, or 2.09 percent of total loans plus other real estate owned (OREO), were down significantly from Dec. 31, 1991 levels of $226.3 million or 2.91 percent of total loans plus OREO. Non-performing loans were $109.9 million, or 1.36 percent of total loans, at Sept. 30, 1992. The company's allowance for loan losses of $135.2 million at quarter-end represented 1.67 percent of total loans and 123.1 percent of non- performing loans.
 Huntington Bancshares is a $13.5 billion regional bank holding company headquartered in Columbus, Ohio. The company's banking subsidiaries operate 275 offices in Ohio, Florida, Indiana, Kentucky, Michigan, Pennsylvania and West Virginia. In addition, Huntington's mortgage, trust, investment banking, and automobile finance subsidiaries manage 52 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 September 30 Change
 (fully tax equivalent basis) 1992 1991 pct
 Interest Income $257,469 $259,897 (0.9)pct
 Interest Expense 97,335 136,377 (28.6)
 Net Interest Income 160,134 123,520 29.6
 Provision for Loan Losses 21,750 9,601 126.5
 Non-Interest Income 56,231 47,115 19.3
 Non-Interest Expense 141,268 115,284 22.5
 Provision for Income Taxes 15,527 12,195 27.3
 FTE Adjustment 2,918 3,488 (16.3)
 Net Income $34,902 $30,067 16.1 pct
 PER COMMON SHARE AMOUNTS (1)
 Net Income $0.45 $0.39 15.4 pct
 Cash Dividends Declared $0.18 $0.16 12.5 pct
 Shareholders' Equity
 Per Common Share $11.88 $10.85 9.5 pct
 Average Shares
 Outstanding (000's) 77,124 76,946
 KEY RATIOS
 Return On:
 Average Total Assets 1.07 pct 1.03 pct
 Average Shareholders' Equity 15.24 pct 14.45 pct
 Net Interest Margin 5.37 pct 4.70 pct
 Average Equity/Average Assets 7.01 pct 7.16 pct
 Total Capital/Total Assets
 (period end) 8.63 pct 8.83 pct
 Tier I Risk-Based Capital Ratio
 (period end) 8.82 pct 8.49 pct
 Total Risk-Based Capital Ratio
 (period end) 10.84 pct 10.83 pct
 CONSOLIDATED RESULTS Nine Months Ended
 OF OPERATIONS September 30 Change
 (fully tax equivalent basis) 1992 1991 pct
 Interest Income $767,597 $794,116 (3.3)pct
 Interest Expense 318,893 430,633 (25.9)
 Net Interest Income 448,704 363,483 23.4
 Provision for Loan Losses 61,032 42,658 43.1
 Non-Interest Income 182,104 131,942 38.0
 Non-Interest Expense 414,724 321,020 29.2
 Provision for Income Taxes 45,567 35,375 28.8
 FTE Adjustment 9,041 11,087 (18.5)
 Net Income $100,444 $85,285 17.8 pct
 PER COMMON SHARE AMOUNTS (1)
 Net Income $1.30 $1.11 17.1 pct
 Cash Dividends Declared $0.50 $0.46 8.7 pct
 Shareholders' Equity
 Per Common Share $11.88 $10.85 9.5 pct
 Average Shares
 Outstanding (000's) 77,052 76,965
 KEY RATIOS
 Return On:
 Average Total Assets 1.06 pct 0.98 pct
 Average Shareholders' Equity 15.11 pct 14.07 pct
 Net Interest Margin 5.18 pct 4.59 pct
 Average Equity/Average Assets 7.01 pct 6.99 pct
 Total Capital/Total Assets
 (period end) 8.63 pct 8.83 pct
 Tier I Risk-Based Capital Ratio
 (period end) 8.82 pct 8.49 pct
 Total Risk-Based Capital Ratio
 (period end) 10.84 pct 10.83 pct
 CONSOLIDATED STATEMENT
 OF CONDITION DATA At September 30, Change
 1992 1991 pct
 Total Loans $ 8,071,450 $ 7,695,478 4.9 pct
 Total Deposits $ 9,707,358 $ 9,279,339 4.6
 Total Assets $13,522,885 $ 12,226,080 10.6
 Shareholders' Equity $ 915,354 $ 833,011 9.9
 ASSET QUALITY
 Non-performing loans $ 109,863 $ 108,954
 Total non-performing
 assets $ 170,168 $ 203,995
 Allowance/total loans 1.67 pct 1.60 pct
 Allowance/non-performing
 loans 123.05 pct 113.12 pct
 (1) 1991 per common share amounts have been adjusted for the five- for-four stock split distributed July 31, 1992.
 -0- 10/13/92
 /CONTACT: Debra Dendahl Hadley of Huntington Bancshares Incorporated, 614-463-4304/
 (HBAN) CO: Huntington Bancshares Incorporated ST: Ohio IN: FIN SU: ERN


KK -- CL012 -- 9237 10/13/92 10:52 EDT
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