Quarterly Income Slips for Huntington National Bank

Belying a stronger performance, Huntington National Bank in Huntington Beach reported lower net income in its third quarter and first nine months. Its quarterly net earnings were $106,000, down 4.5% from last year’s $111,000, and its nine-month figure was $292,000, down 8.1% from $318,000 in the same period last year.

The higher income last year came from tax benefits of about $20,000 in the quarter and $59,000 in the first nine months, said Robert Green, the bank’s executive vice president.

The bank’s assets at the end of September grew 25.5% to $66.4 million from $52.9 million a year earlier. Its loan portfolio rose 11.3% to $41.1 million from $37 million, and its total deposits increased 26% to $61.5 million from $48.8 million.