Huntington Bancshares reports 18 pct. earnings increase - Beckley, Bluefield & Lewisburg News, Weather, Sports

Huntington Bancshares reports 18 pct. earnings increase

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Huntington Bancshares, the parent company of Huntington National Bank, reported 2013 third quarter net income Oct. 17 of $178 million, an increase of $11 million, or 6 percent, from the 2012 third quarter and an increase of $28 million, or 18 percent, from the 2013 second quarter.

"The third quarter was a time of continuing household growth, particularly within our in-store branches, and marked a return to stability of our commercial real estate loan portfolio," said Stephen D. Steinour, president, chairman and CEO of Huntington Bank. "Our performance has benefited from ongoing improvement within our core Midwestern economies. We also made progress in managing expenses, including one-time savings attributable to pension curtailment, rightsizing of some investments, and the consolidation of 22 branch locations. Overall, it was a solid quarter positioning Huntington for a good finish for 2013."

"While we are optimistic about continuing indicators of economic improvement supporting Huntington's performance for the next several quarters, we must face the headwinds related to the yield curve, regulatory environment, and ongoing uncertainty in Washington. We look to our federal elected officials to take the appropriate steps to support economic stability and continue to advocate for sound and sustainable fiscal policies."

Huntington National Bank has 30 offices in West Virginia. It is the fifth-largest bank operating in the state in terms of deposits.