Huntington Bancshares reported Q2/14 net income of $165 million, an increase of $14 million, or 9%, from $151 million in the 2013 second quarter.

The bank noted that average earnings assets of $57.1 billion was up $5.9 billion from $51.2 billion or 11.5% in Q2/13 with average loans and leases up $3.7 billion or 9% year-over-year.

Net interest income of $460.0 million, was up 8.3% from $424.9 million in the same 2013 quarter. The bank noted that the net interest margin of 3.28% was down from 3.38% a year earlier.

“We are very pleased with our second quarter performance, which reflects our steadfast focus on executing our strategies,” said Steve Steinour, chairman, president and CEO. “We have been able to grow both total revenue and net interest income year over year. Net interest income was particularly noteworthy, as average loan growth of 9% allowed us
to overcome continued pressure on the net interest margin from the low, flat yield curve. We also returned 97% of earnings to common shareholders, including $111 million of stock buybacks during the quarter, which demonstrates our belief in the future prospects of the
company and our commitment to return capital to our shareholders.”
“Average loans increased $3.7 billion from the second quarter of 2013, driven by growth in commercial and auto lending, reflecting heightened consumer and business confidence in the economy,” said Steinour.

To view the full Huntington Bancshares news release, click here.