In results reflecting some of the more severe ills plaguing the banking industry, Huntington Bancshares on Wednesday reported $52.5 million in fourth-quarter net earnings, down 16% from last year's profits for the same period.

Kemper Securities' Thomas Maier said the mortgage banking operation of the Columbus, Ohio-based company moved into a losing position in the middle of the year. At that time, many on Wall Street revised their earnings expectations downward.

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