Huntington reports net loss
Huntington Bancshares Inc. (NASDAQ: HBAN) reported a 2009 second quarter net loss of $125.1 million, or $0.40 per common share. This compared with a net loss of $2,433.2 million, or $6.79 per common share, in the 2009 first quarter, and net income of $101.4 million, or $0.25 per common share in the year-ago quarter.
For the first six months of 2009, Huntington reported a net loss of $2,558.3 million, or $6.47 per common share, compared with net income of $228.4 million, or $0.59 per common share in the comparable 2008 period.
“Despite the reported loss for the quarter, we continued to make steady progress in underlying financial performance,” Stephen D. Steinour, chairman, president and CEO, said in a news release. “Our pre-tax, pre-provision earnings were $229.3 million, up $4.7 million, or 2 percent, from the first quarter. This reflected a combination of positive factors key to improving our long-term financial performance. For example, average core deposits increased at an annualized 17 percent rate during the quarter. We also originated or renewed $4.1 billion of loans.”