Huntington Bancshares, Inc. (NASDAQ: HBAN) reported Q1 EPS of $0.17, in-line with the analyst estimate of $0.17.

Specific highlights compared with the 2013 First Quarter:

• $0.41, or 7%, increase in tangible book value per common share to $6.31
• $5 million, or 1%, increase in fully-taxable equivalent revenue
• $13 million, or 3%, increase in fully-taxable equivalent net interest income to $443 million, reflecting:
  • 8% average earning asset growth, and
  • 3.27% fully-taxable equivalent net interest margin (NIM), down 15 basis points
• $8 million, or 3%, decrease in noninterest income, reflecting:
  • $22 million, or 49%, decrease in mortgage banking income, and
  • $17 million increase in securities gains, related to repositioning the portfolio for Liquidity Coverage Ratio
• $17 million, or 4%, increase in noninterest expense, including $13 million of one-time merger-related expenses and a $9 million increase in litigation reserves
• 1.01% return on average assets, down from 1.12%
• Nonaccrual loans declined to 0.74% of total loans and leases, down from 0.92%
• Tier 1 Common Ratio of 10.63%, up from 10.62%

  Specific highlights compared with the 2013 First Quarter:

• Earnings per common share stable at $0.17, net income down 3% to $149 million
• $0.41, or 7%, increase in tangible book value per common share to $6.31
• $5 million, or 1%, increase in fully-taxable equivalent revenue
• $13 million, or 3%, increase in fully-taxable equivalent net interest income to $443 million, reflecting:
  • 8% average earning asset growth, and
  • 3.27% fully-taxable equivalent net interest margin (NIM), down 15 basis points
• $8 million, or 3%, decrease in noninterest income, reflecting:
  • $22 million, or 49%, decrease in mortgage banking income, and
  • $17 million increase in securities gains, related to repositioning the portfolio for Liquidity Coverage Ratio
• $17 million, or 4%, increase in noninterest expense, including $13 million of one-time merger-related expenses and a $9 million increase in litigation reserves
• 1.01% return on average assets, down from 1.12%
• Nonaccrual loans declined to 0.74% of total loans and leases, down from 0.92%
• Tier 1 Common Ratio of 10.63%, up from 10.62%

For earnings history and earnings-related data on Huntington Bancshares, Inc. (HBAN) click here.