Chief Executive Stephen Steinour said it is premature forthe bank to repay its $1

Chief Executive Stephen Steinour said it is premature forthe bank to repay its $1.4 billion of federal bailout money,”given the economic uncertainty in our Midwest region.” In afternoon trading, PNC shares were down 3.6 percent,Fifth Third rose 16.7 percent and Huntington fell 4.3 percent. Excluding items, the loss was 37 cents per share,while analysts forecast a loss of 18 cents. [ID:nN23495737] The lender tripled its provision for loan losses to $413.7million, and net charge-offs quintupled to $334.4 million. Unlike PNC and Fifth Third, Huntington was not subject togovernment “stress tests” to gauge capital needs, but has takenseveral steps to build capital. Huntington, based in Columbus, Ohio, said its lossattributable to shareholders was $182.5 million, or 40 centsper share. “Although the environment remains difficult and signals aremixed, ‘mixed’ is better than ‘deteriorating everywhere,’”Fifth Third Chief Executive Kevin Kabat said on a conferencecall The bank took $3.4 billion of federal bailout money. Nonperformingassets, where borrowers are not making payments, rose 7 percentin the quarter after jumping 32 percent from January to March.

While Fifth Third set aside $1.04 billion for credit lossesand increased net charge-offs 82 percent to $626 million, thecompany said credit weakness is stabilizing. Fifth Third, based in Cincinnati, posted net incomeavailable to shareholders of $856 million, or $1.15 per share.[ID:nN23372871] Excluding items, such as a $1.06 billion gain from sellinga majority stake in a payment processing unit, the loss was 27cents per share, smaller than the 32 cents analysts expected. It has 2,606 branches,and took $7.6 billion from the federal bank bailout program. PNC in December bought Cleveland-based National City Corp,a lender troubled by subprime mortgages Most of PNC’s otheroperations are in mid-Atlantic states. “We expect net charge-off pressures to continue gainingmomentum as commercial credit comes under greater pressure,”wrote Paul Miller, an analyst at FBR Capital Markets. It setaside $1.09 billion for bad loans, and net charge-offs rose 84percent from the first quarter to $795 million.

[ID:nN23368122] “Loan demand continues to be soft across the country,” PNCChief Executive James Rohr said on a conference call “Theeconomy is going to be tough” all year, he added. Net interest margin fell to 3.60 percent from 3.81 percentin the first quarter as PNC shed some higher-risk loans. bank byassets, said net income applicable to shareholders fell 87percent to $65 million, or 14 cents per share. Excluding merger costs, profit was 34 cents per share,below the 44 cents that analysts on average expected, accordingto Reuters Estimates.

Fifth Third Bancorp (FITB.O)posted a smaller loss than expected and indicated that creditdeterioration is moderating, causing its shares to rise. The results mirror struggles that other major lenders facein capping loan losses as home prices fall, unemployment rises,capital spending remains subdued, and risk-averse loan officersresist extending credit. Midwestern lenders may also be moreheavily exposed to the auto industry’s travails Pittsburgh-based PNC, the seventh-largest U.S. PNC Financial Services Group Inc (PNC.N) and HuntingtonBancshares Inc (HBAN.O) reported earnings below Wall Streetforecasts, and their shares fell. regional bankswith large operations in the Midwest said rising loan lossesweighed on second-quarter earnings, and expressed uncertaintyabout how long the economic downturn will last. * Reserves, net charge-offs increase Stocks  |  Bonds  |  Funds News  |  ETFs News * Uncertainty over length of economic downturn * Fifth Third shares rise; PNC, Huntington shares fall (Adds PNC CEO and analyst comments; updates shares) By Jonathan Stempel NEW YORK, July 23 (Reuters) – Three U.S. The Academy serves its members by facilitating the advancement ofthe science and art of medicine related to otolaryngology and by representingthe specialty in governmental and socioeconomic issues.The organization`svision: “Empowering otolaryngologist-head and neck surgeons to deliver the bestpatient care.”American Academy of Otolaryngology – Head and Neck Surgery (AAO-HNS)Jessica Mikulski, Copyright Business Wire 2009.