Exhibit 99.1
| NEWS RELEASE |  |
FOR IMMEDIATE RELEASE
May 8, 2009
May 8, 2009
Contacts:
Analysts
|
Media | |||||
Jay Gould
|
(614) 480-4060 | Jeri Grier | (614) 480-5413 | |||
Jim Graham
|
(614) 480-3878 | Maureen Brown | (614) 480-5512 |
HUNTINGTON BANCSHARES ANNOUNCES COMPLETION OF ITS
DISCRECTIONARY EQUITY ISSUANCE PROGRAM
DISCRECTIONARY EQUITY ISSUANCE PROGRAM
COLUMBUS, Ohio — Huntington Bancshares Incorporated (NASDAQ: HBAN;
www.huntington.com) today announced that it has successfully completed its Discretionary
Equity Issuance Program announced April 21, 2009.
As a result of this program, 38.5 million shares of common stock worth $120 million were
issued. The average price per common share issued was $3.12. The issuance of these shares, plus
the 4.7 million common shares issued resulting from converting a portion of our Series A 8.50%
Non-cumulative Perpetual Convertible Preferred stock late in the 2009 first quarter that settled
April 2, 2009, significantly strengthen key capital ratios. Specifically, these actions added 28
basis points to Huntington’s tangible common equity ratio (4.65% at March 31, 2009) and 30 basis
points to its Tier 1 Common risk-based capital ratio (5.75% at March 31, 2009).
“We are extremely pleased that we were able to complete this expanded program in such a short
period of time,” said Stephen D. Steinour, chairman, president, and chief executive officer.
“Given the very good demand we found for our common shares, we were able to increase the program by
$20 million. These results speak well regarding the market’s perception of the progress we are
making in improving our financial performance in this challenging environment.”
Forward-looking Statement
This press release contains certain forward-looking statements, including certain plans,
expectations, goals, projections, and statements, which are subject to numerous assumptions, risks,
and uncertainties. Actual results could differ materially from those contained or implied by such
statements for a variety of factors including: (1) deterioration in the loan portfolio could be
worse than expected due to a number of factors such as the underlying value of the collateral could
prove less valuable than otherwise assumed and assumed cash flows may be worse than expected; (2)
changes in economic conditions; (3) movements in interest rates; (4) competitive pressures on
product pricing and services; (5) success and timing of other business strategies; (6) the nature,
extent, and timing of governmental actions and reforms, including existing and potential future
restrictions and limitations imposed in connection with the Troubled Asset Relief Program’s
voluntary Capital Purchase Plan or otherwise under the Emergency Economic Stabilization Act of
2008; and (7) extended disruption of vital infrastructure. Additional factors that could cause
results to differ materially from those described above can be found in Huntington’s 2008 Annual
Report on Form 10-K, and documents subsequently filed by Huntington with the Securities and
Exchange
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