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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income        
Interest and fees on loans $ 248,579 $ 249,649 $ 768,216 $ 716,329
Interest and dividends on investment securities        
Taxable 23,485 29,895 79,248 90,622
Tax-exempt 14,491 11,883 42,950 31,883
Other interest 4,865 4,036 13,086 9,366
Total interest income 291,420 295,464 903,500 848,201
Interest expense        
Interest on deposits 61,585 50,116 191,408 121,959
Interest on federal funds purchased and securities sold under agreements to repurchase 145 504 1,058 1,564
Interest on other short-term funding 33 38 121 150
Interest on FHLB advances 15,896 19,318 53,194 53,720
Interest on long-term funding 7,396 6,095 22,188 15,183
Total interest expense 85,054 76,072 267,969 192,576
Net interest income 206,365 219,392 635,532 655,625
Provision for credit losses 2,000 (5,000) 16,000 (1,000)
Net interest income after provision for credit losses 204,365 224,392 619,532 656,625
Noninterest income        
Noninterest Income In Scope of Topic 606 72,713 72,718 216,373 218,270
Capital markets, net 4,300 5,099 12,215 15,189
Mortgage banking, net 10,940 4,012 25,118 16,640
Bank and corporate owned life insurance 4,337 3,540 11,482 10,705
Asset gains (losses), net(b) [1] 877 (1,037) 2,316 1,353
Investment securities gains (losses), net 3,788 30 5,931 (1,985)
Other 2,537 2,802 8,344 7,529
Total noninterest income 100,850 88,300 287,890 271,522
Noninterest expense        
Personnel 123,170 124,476 366,449 366,141
Technology 20,572 17,563 59,698 54,730
Occupancy 15,164 14,519 45,466 44,947
Business development and advertising 7,991 8,213 21,284 21,973
Equipment 6,335 5,838 17,580 17,347
Legal and professional 5,724 5,476 14,342 17,173
Loan and foreclosure costs 1,638 2,439 5,599 5,844
FDIC assessment 4,000 7,750 12,250 24,250
Other intangible amortization 2,686 2,233 7,237 5,926
Other 12,021 13,634 34,479 40,323
Total noninterest expense 200,930 204,413 590,380 628,636
Income (loss) before income taxes 104,286 108,279 317,042 299,510
Income tax expense 20,947 22,349 62,356 54,932
Net income 83,339 85,929 254,686 244,578
Preferred stock dividends 3,801 2,409 11,402 7,077
Net income available to common equity $ 79,539 $ 83,521 $ 243,285 $ 237,501
Earnings per common share        
Basic $ 0.50 $ 0.49 $ 1.49 $ 1.40
Diluted $ 0.49 $ 0.48 $ 1.48 $ 1.38
Average common shares outstanding        
Basic 159,126 170,516 161,727 168,249
Diluted 160,382 172,802 163,061 170,876
Insurance commissions and fees        
Noninterest income        
Noninterest Income In Scope of Topic 606 $ 20,954 $ 21,636 $ 69,403 $ 68,279
Wealth management fees(a)        
Noninterest income        
Noninterest Income In Scope of Topic 606 21,015 21,224 61,885 62,198
Service charges on deposit account fees        
Noninterest income        
Noninterest Income In Scope of Topic 606 16,561 16,904 47,102 49,714
Card-based fees        
Noninterest income        
Noninterest Income In Scope of Topic 606 10,501 9,826 29,973 29,454
Service charges and account fees 10,456 9,783 29,848 29,341
Other fee-based revenue        
Noninterest income        
Noninterest Income In Scope of Topic 606 3,683 3,128 8,010 8,624
Service charges and account fees 5,085 4,307 14,246 12,559
Operating Segments | Risk Management and Shared Services        
Interest expense        
Net interest income 13,919 14,770 38,583 47,770
Provision for credit losses (15,919) (21,512) (38,721) (49,081)
Noninterest income        
Total noninterest income 6,265 2,183 14,983 8,242
Noninterest expense        
Acquisition related costs(c) [2] 1,629 2,271 5,995 29,983
Total noninterest expense 23,981 22,959 65,399 100,654
Income (loss) before income taxes 1,790 6,572 10,209 (22,712)
Income tax expense 1,295 1,388 1,816 (10,460)
Net income $ 495 $ 5,185 $ 8,393 (12,252)
Huntington National Bank        
Related acquisition asset losses net of asset gains less than $1 million   less than $1 million  
Bank Mutual        
Related acquisition asset losses net of asset gains   approximately $1 million    
Noninterest income        
Asset gains (losses), net(b)       $ 2,000
[1]
(b) The nine months ended September 30, 2019 include less than $1 million of Huntington related asset losses; the three months and nine months ended September 30, 2018 include approximately $1 million and $2 million of Bank Mutual acquisition related asset losses net of asset gains, respectively.
[2]
(c) Includes Bank Mutual, Huntington branch, and First Staunton acquisition related costs only.