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Updated: 11:43 a.m. Wednesday, April 18, 2012 | Posted: 11:42 a.m. Wednesday, April 18, 2012
Staff Report
Columbus-based Huntington Bancshares and Pittsburgh, Pa.-based PNC Financial Services Group released first quarter earnings Wednesday morning, two of the largest banking players in the Dayton region.
Huntington said it had net income for the first quarter ending March 31 of $153.3 million, compared to net income of $126.4 million for the same quarter of 2011. Two major items affected results. One was a gain from a Federal Deposit Insurance Corp.-assisted purchase of Fidelity Bank in Dearborn, Mich., and the other an expense to add to litigation reserves, according to the company.
PNC Financial had net income of $811 million last quarter, compared to income a year ago of $832 million, the company said. It was a narrower profit year-over-year, but PNC grew income from the fourth quarter of 2011 due to growing customers and loans, according to PNC. PNC’s fourth quarter net income was $493 million.
These are the latest bank earnings reports. U.S. Bancorp said Tuesday it had net income in the first quarter of approximately $1.3 million, an increase of nearly 28 percent from the same quarter last year. JPMorgan Chase reported Friday first quarter net income of $5.4 billion, slightly less than first quarter 2011 earnings of $5.6 billion.
KeyCorp and Fifth Third Bancorp earning releases are scheduled for Thursday. Fifth Third is the largest bank company by deposits in the Dayton metro region.
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