Biz Buzz
By Jim Martin, Doug Oathout Erie Times-News staff bloggers
Welcome to Biz Buzz, our daily blog on all things business. Turn here for breaking news on the economy, local industry and area people engaged in the region's companies.   Read more about this blog.
 Phone: 814-870-1668
Posted: April 17th, 2013
1st quarter strong for PNC; Huntington profits dip

Results were mixed for a pair of local banks that reported their quarterly earnings this morning.

The news was good for Pittsburgh-based PNC Financial Services Group. The bank, one of the nation’s largest and the largest in western Pennsylvania, said profits rose 22 percent on revenue growth of 6 percent.

PNC earned $938 million, or $1.76 per share, up from $766 million, or $1.44, in the first quarter of 2012.
Revenue was $3.96 billion, up from $3.73 billion.

Meanwhile, Columbus-based Huntington Bancshares, parent company of Huntington Bank, said its profits fell 1 percent in the first quarter as revenue from fees and selling loans declined.

Net income for the quarter was $151.8 million, down from $153.3 million.

Revenues were $682.3 million, down 3 percent from $706.5 million the previous year.

Stephen Steinour, Huntington’s chief executive, indicated he was satisfied with the results.

“This year is off to a solid start,” he said. “This quarter’s results continue to demonstrate that our strategies are working.”

Posted in: Uncategorized
No Responses to 1st quarter strong for PNC; Huntington profits dip
Leave a Reply

You must be logged in to post a comment.