Exhibit 99.2

Exhibit 99.2

HUNTINGTON BANCSHARES INCORPORATED
Quarterly Financial Review
September 2009

Table of Contents


Consolidated Balance Sheets			1

Loans and Leases Composition			2

Deposits Composition			3

Consolidated Quarterly Average Balance Sheets			4

Consolidated Quarterly Net Interest Margin Analysis			5

Selected Quarterly Income Statement Data			6

Quarterly Mortgage Banking Income			7

Quarterly Credit Reserves Analysis			8

Quarterly Net Charge-Off Analysis			9

Quarterly Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)			10

Quarterly Accruing Past Due Loans and Leases and Accruing Restructured Loans			11

Quarterly Common Stock Summary, Capital, and Other Data			12

Consolidated Year to Date Average Balance Sheets			13

Consolidated Year to Date Net Interest Margin Analysis			14

Selected Year to Date Income Statement Data			15

Year to Date Mortgage Banking Income			16

Year to Date Credit Reserves Analysis			17

Year to Date Net Charge-Off Analysis			18

Year to Date Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)			19

Year to Date Accruing Past Due Loans and Leases and Accruing Restructured Loans			20

Notes:

The preparation of financial statement data in conformity with accounting principals generally accepted in the United States requires management to make estimates and assumptions that affect amounts reported. Actual results could differ from those estimates. Certain prior period amounts have been reclassified to conform to the current period’s presentation.

Contents

Huntington Bancshares Incorporated
Consolidated Balance Sheets


										Change
	2009			2008						September ’09 vs ’08
(in thousands, except number of shares)	September 30,			December 31,			September 30,			Amount			Percent
	*(Unaudited)*						(Unaudited)
Assets
Cash and due from banks	$	1,882,108		$	806,693		$	901,239		$	980,869			N.M.	%
Federal funds sold and securities purchased under resale agreements		—			37,975			269,519			(269,519	)		(100.0	)
Interest bearing deposits in banks		397,941			292,561			298,297			99,644			33.4
Trading account securities		121,366			88,677			998,249			(876,883	)		(87.8	)
Loans held for sale		530,861			390,438			286,751			244,110			85.1
Investment securities		8,503,150			4,384,457			4,565,064			3,938,086			86.3
Loans and leases ⁽¹⁾		37,304,094			41,092,165			41,191,723			(3,887,629	)		(9.4	)
Allowance for loan and lease losses		(1,031,971	)		(900,227	)		(720,738	)		(311,233	)		43.2

Net loans and leases		36,272,123			40,191,938			40,470,985			(4,198,862	)		(10.4	)

Bank owned life insurance		1,402,134			1,364,466			1,353,400			48,734			3.6
Premises and equipment		496,280			519,500			527,798			(31,518	)		(6.0	)
Goodwill		443,648			3,054,985			3,056,386			(2,612,738	)		(85.5	)
Other intangible assets		302,612			356,703			375,914			(73,302	)		(19.5	)
Accrued income and other assets		2,160,436			2,864,466			1,556,987			603,449			38.8

Total Assets	$	52,512,659		$	54,352,859		$	54,660,589		$	(2,147,930	)		(3.9	)%


Liabilities and Shareholders’ Equity
Liabilities
Deposits ⁽²⁾	$	39,829,057		$	37,943,286		$	37,569,056		$	2,260,001			6.0	%
Short-term borrowings		852,076			1,309,157			1,974,368			(1,122,292	)		(56.8	)
Federal Home Loan Bank advances		920,047			2,588,976			3,483,001			(2,562,954	)		(73.6	)
Other long-term debt		2,434,858			2,331,632			2,497,002			(62,144	)		(2.5	)
Subordinated notes		1,674,052			1,950,097			1,864,728			(190,676	)		(10.2	)
Accrued expenses and other liabilities		1,127,463			1,000,805			896,674			230,789			25.7

Total Liabilities		46,837,553			47,123,953			48,284,829			(1,447,276	)		(3.0	)


Equity
Huntington Bancshares Incorporated shareholders’ equity
Preferred stock — authorized 6,617,808 shares—
5.00% Series B Non-voting, Cumulative Preferred Stock, par value of $0.01 and liquidation value per share of $1,000		1,320,898			1,308,667			—			1,320,898			—
8.50% Series A Non-cumulative Perpetual Convertible Preferred Stock, par value and liquidiation value per share of $1,000;		362,507			569,000			569,000			(206,493	)		—
Common stock—
Par value of $0.01 and authorized 1,000,000,000 shares		7,154			3,670			3,670			3,484			94.9
Capital surplus		6,723,923			5,322,428			5,228,381			1,495,542			28.6
Less treasury shares at cost,		(11,827	)		(15,530	)		(15,501	)		3,674			(23.7	)
Accumulated other comprehensive income (loss):
Unrealized losses on investment securities		(103,010	)		(207,756	)		(207,816	)		104,806			(50.4	)
Unrealized gains (losses) on cash flow hedging derivatives		50,311			44,638			(13,450	)		63,761			N.M.
Pension and other postretirement benefit adjustments		(159,143	)		(163,575	)		(45,411	)		(113,732	)		N.M.
Retained (deficit) earnings		(2,515,707	)		367,364			856,887			(3,372,594	)		N.M.

Total Shareholders’ Equity		5,675,106			7,228,906			6,375,760			(700,654	)		(11.0	)

Total Liabilities and Shareholders’ Equity	$	52,512,659		$	54,352,859		$	54,660,589		$	(2,147,930	)		(3.9)	%


Common shares issued		715,409,524			366,972,250			366,970,661
Common shares outstanding		714,469,066			366,057,669			366,068,762
Treasury shares outstanding		940,458			914,581			901,899
Preferred shares issued		1,967,071			1,967,071			569,000
Preferred shares outstanding		1,760,578			1,967,071			569,000


N.M., not a meaningful value.

⁽¹⁾		See page 2 for detail of loans and leases.

⁽²⁾		See page 3 for detail of deposits.

Huntington Bancshares Incorporated
Loans and Leases Composition
(Unaudited)


	2009												2008
(in millions)	September 30,				June 30,				March 31,				December 31,				September 30,
	*(Unaudited)*				(Unaudited)				(Unaudited)								(Unaudited)

Ending Balances by Type
Commercial: ⁽¹⁾
Commercial and industrial ⁽²⁾	$	12,547	33.6	%	$	13,320	34.6	%	$	13,768	34.8	%	$	13,541	33.0	%	$	13,638	33.1	%
Commercial real estate:
Construction		1,815	4.9			1,857	4.8			2,074	5.2			2,080	5.1			2,111	5.1
Commercial ⁽²⁾		6,900	18.5			7,089	18.4			7,187	18.2			8,018	19.5			7,796	18.9

Commercial real estate		8,715	23.4			8,946	23.2			9,261	23.4			10,098	24.6			9,907	24.0

Total commercial		21,262	57.0			22,266	57.8			23,029	58.2			23,639	57.6			23,545	57.1

Consumer:
Automobile loans		2,939	7.9			2,855	7.4			2,894	7.3			3,901	9.5			3,918	9.5
Automobile leases		309	0.8			383	1.0			468	1.2			563	1.4			698	1.7
Home equity		7,576	20.3			7,631	19.8			7,663	19.4			7,556	18.4			7,497	18.2
Residential mortgage		4,468	12.0			4,646	12.1			4,837	12.2			4,761	11.6			4,854	11.8
Other loans		750	2.0			714	1.9			657	1.7			672	1.5			680	1.7

Total consumer		16,042	43.0			16,229	42.2			16,519	41.8			17,453	42.4			17,647	42.9

Total loans and leases	$	37,304	100.0	%	$	38,495	100.0	%	$	39,548	100.0	%	$	41,092	100.0	%	$	41,192	100.0	%


Ending Balances by Business Segment
Retail and Business Banking	$	15,383	41.2	%	$	15,854	41.2	%	$	16,117	40.8	%	$	16,537	40.2	%	$	16,634	40.4	%
Commercial Banking		7,940	21.3			8,094	21.0			8,407	21.3			8,532	20.8			8,319	20.2
Commercial Real Estate		6,706	18.0			6,737	17.5			7,003	17.7			6,879	16.7			6,711	16.3
Auto Finance and Dealer Services		4,325	11.6			4,554	11.8			4,830	12.2			5,949	14.5			5,891	14.3
Private Financial Group		2,483	6.6			2,784	7.3			2,696	6.7			2,545	6.2			2,542	6.1
Treasury / Other ⁽³⁾		467	1.3			472	1.2			495	1.3			650	1.6			1,095	2.7

Total loans and leases	$	37,304	100.0	%	$	38,495	100.0	%	$	39,548	100.0	%	$	41,092	100.0	%	$	41,192	100.0	%


	2009												2008
	Third				Second				First				Fourth				Third
Average Balances by Business Segment
Retail and Business Banking	$	15,573	41.1	%	$	15,864	40.7	%	$	16,407	40.1	%	$	16,500	39.8	%	$	16,557	40.4	%
Commercial Banking		8,031	21.2			8,246	21.1			8,436	20.6			8,531	20.6			8,280	20.2
Commercial Real Estate		6,876	18.2			6,925	17.8			6,973	17.1			6,846	16.5			6,589	16.1
Auto Finance and Dealer Services		4,372	11.5			4,712	12.1			5,823	14.2			5,911	14.3			5,931	14.5
Private Financial Group		2,531	6.8			2,771	7.0			2,599	6.5			2,564	6.2			2,533	6.1
Treasury / Other ⁽³⁾		472	1.2			489	1.3			628	1.5			1,085	2.6			1,114	2.7

Total loans and direct financing leases	$	37,855	100.0	%	$	39,007	100.0	%	$	40,866	100.0	%	$	41,437	100.0	%	$	41,004	100.0	%


⁽¹⁾		There were no commercial loans outstanding that would be considered a concentration of lending to a particular industry or group of industries.

⁽²⁾		The 2009 first quarter reflected a net reclassification of $782.2 million from commercial real estate to commercial and industrial.

⁽³⁾		Comprised primarily of Franklin loans.

Huntington Bancshares Incorporated
Deposits Composition
(Unaudited)


	2009												2008
(in millions)	September 30,				June 30,				March 31,				December 31,				September 30,
	*(Unaudited)*				(Unaudited)				(Unaudited)								(Unaudited)
Ending Balances by Type
Demand deposits — non-interest bearing	$	6,306	15.8	%	$	6,169	15.8	%	$	5,887	15.1	%	$	5,477	14.4	%	$	5,135	13.7	%
Demand deposits — interest bearing		5,401	13.6			4,842	12.4			4,306	11.0			4,083	10.8			4,052	10.8
Money market deposits		8,548	21.5			6,622	16.9			5,857	15.0			5,182	13.7			5,565	14.8
Savings and other domestic deposits		4,631	11.6			4,859	12.4			5,007	12.8			4,930	13.0			4,903	13.1
Core certificates of deposit		11,205	28.1			12,197	31.1			12,616	32.3			12,856	33.9			12,270	32.7

Total core deposits		36,091	90.6			34,689	88.6			33,673	86.2			32,528	85.8			31,925	85.1
Other domestic deposits of $250,000 or more		689	1.7			846	2.2			1,041	2.7			1,328	3.5			1,749	4.7
Brokered deposits and negotiable CDs		2,630	6.6			3,229	8.2			3,848	9.8			3,355	8.8			2,925	7.8
Deposits in foreign offices		419	1.1			401	1.0			508	1.3			732	1.9			970	2.4

Total deposits	$	39,829	100.0	%	$	39,165	100.0	%	$	39,070	100.0	%	$	37,943	100.0	%	$	37,569	100.0	%


Total core deposits:
Commercial	$	10,884	30.2	%	$	9,738	28.1	%	$	8,934	26.5	%	$	7,971	24.5	%	$	8,208	25.7	%
Personal		25,207	69.8			24,951	71.9			24,739	73.5			24,557	75.5			23,717	74.3

Total core deposits	$	36,091	100.0	%	$	34,689	100.0	%	$	33,673	100.0	%	$	32,528	100.0	%	$	31,925	100.0	%


Ending Balances by Business Segment
Retail and Business Banking	$	28,120	70.6	%	$	27,852	71.1	%	$	27,728	71.0	%	$	27,314	72.0	%	$	26,626	70.9	%
Commercial Banking		6,241	15.7			5,614	14.3			5,639	14.4			5,180	13.7			5,946	15.8
Commercial Real Estate		454	1.1			404	1.0			418	1.1			433	1.1			494	1.3
Auto Finance and Dealer Services		96	0.2			84	0.2			71	0.2			68	0.2			68	0.2
Private Financial Group		2,954	7.4			2,728	7.0			2,283	5.8			1,777	4.7			1,584	4.2
Treasury / Other⁽¹⁾		1,964	5.0			2,483	6.4			2,931	7.5			3,171	8.3			2,851	7.6

Total deposits	$	39,829	100.0	%	$	39,165	100.0	%	$	39,070	100.0	%	$	37,943	100.0	%	$	37,569	100.0	%


	2009												2008
	Third				Second				First				Fourth				Third
Average Balances by Business Segment
Retail and Business Banking	$	27,863	70.4	%	$	27,791	70.3	%	$	27,224	71.3	%	$	26,988	71.8	%	$	26,476	70.0	%
Commercial Banking		5,954	15.0			5,642	14.3			5,324	13.9			5,349	14.2			6,031	16.0
Commercial Real Estate		430	1.1			402	1.0			415	1.1			450	1.2			486	1.3
Auto Finance and Dealer Services		93	0.2			72	0.2			65	0.2			63	0.2			64	0.2
Private Financial Group		2,897	7.3			2,515	6.3			1,971	5.1			1,634	4.4			1,619	4.2
Treasury / Other⁽¹⁾		2,356	6.0			3,112	7.9			3,190	8.4			3,099	8.2			3,127	8.3

Total deposits	$	39,593	100.0	%	$	39,534	100.0	%	$	38,189	100.0	%	$	37,583	100.0	%	$	37,803	100.0	%


⁽¹⁾		Comprised primarily of national market deposits.

Huntington Bancshares Incorporated
Consolidated Quarterly Average Balance Sheets
(Unaudited)


	Average Balances															Change
Fully taxable equivalent basis	2009									2008						3Q09 vs 3Q08
(in millions)	Third			Second			First			Fourth			Third			Amount			Percent
Assets
Interest bearing deposits in banks	$	393		$	369		$	355		$	343		$	321		$	72			22.4	%
Trading account securities		107			88			278			940			992			(885	)		(89.2	)
Federal funds sold and securities purchased under resale agreements		7			—			19			48			363			(356	)		(98.1	)
Loans held for sale		524			709			627			329			274			250			91.2
Investment securities:
Taxable		6,510			5,181			3,961			3,789			3,975			2,535			63.8
Tax-exempt		129			126			465			689			712			(583	)		(81.9	)

Total investment securities		6,639			5,307			4,426			4,478			4,687			1,952			41.6
Loans and leases:⁽¹⁾
Commercial:
Commercial and industrial		12,922			13,523			13,541			13,746			13,629			(707	)		(5.19	)
Commercial real estate:
Construction		1,808			1,946			2,033			2,103			2,090			(282	)		(13.5	)
Commercial		7,071			7,253			8,079			8,115			7,726			(655	)		(8.5	)

Commercial real estate		8,879			9,199			10,112			10,218			9,816			(937	)		(9.5	)

Total commercial		21,801			22,722			23,653			23,964			23,445			(1,644	)		(7.0	)

Consumer:
Automobile loans		2,886			2,867			3,837			3,899			3,856			(970	)		(25.2	)
Automobile leases		344			423			517			636			768			(424	)		(55.2	)

Automobile loans and leases		3,230			3,290			4,354			4,535			4,624			(1,394	)		(30.1	)
Home equity		7,581			7,640			7,577			7,523			7,453			128			1.7
Residential mortgage		4,487			4,657			4,611			4,737			4,812			(325	)		(6.8	)
Other loans		756			698			671			678			670			86			12.8

Total consumer		16,054			16,285			17,213			17,473			17,559			(1,505	)		(8.6	)

Total loans and leases		37,855			39,007			40,866			41,437			41,004			(3,149	)		(7.7	)
Allowance for loan and lease losses		(950	)		(930	)		(913	)		(764	)		(731	)		(219	)		(30.0	)

Net loans and leases		36,905			38,077			39,953			40,673			40,273			(3,368	)		(8.4	)

Total earning assets		45,525			45,480			46,571			47,575			47,641			(2,116	)		(4.4	)

Cash and due from banks		2,553			2,466			1,553			928			925			1,628			N.M.
Intangible assets		755			780			3,371			3,421			3,441			(2,686	)		(78.1	)
All other assets		3,797			3,701			3,571			3,447			3,384			413			12.2

Total Assets	$	51,680		$	51,497		$	54,153		$	54,607		$	54,660		$	(2,980	)		(5.5	)%


Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — noninterest bearing	$	6,186		$	6,021		$	5,544		$	5,205		$	5,080		$	1,106			21.8	%
Demand deposits — interest bearing		5,140			4,547			4,076			3,988			4,005			1,135			28.3
Money market deposits		7,601			6,355			5,593			5,500			5,860			1,741			29.7
Savings and other domestic deposits		4,771			5,031			5,041			5,034			5,100			(329	)		(6.5	)
Core certificates of deposit		11,646			12,501			12,784			12,588			11,993			(347	)		(2.9	)

Total core deposits		35,344			34,455			33,038			32,315			32,038			3,306			10.3
Other domestic deposits of $250,000 or more		747			886			1,069			1,365			1,692			(945	)		(55.9	)
Brokered deposits and negotiable CDs		3,058			3,740			3,449			3,049			3,025			33			1.1
Deposits in foreign offices		444			453			633			854			1,048			(604	)		(57.6	)

Total deposits		39,593			39,534			38,189			37,583			37,803			1,790			4.7
Short-term borrowings		879			879			1,099			1,748			2,131			(1,252	)		(58.8	)
Federal Home Loan Bank advances		924			947			2,414			3,188			3,139			(2,215	)		(70.6	)
Subordinated notes and other long-term debt		4,136			4,640			4,612			4,252			4,382			(246	)		(5.6	)

Total interest bearing liabilities		39,346			39,979			40,770			41,566			42,375			(3,029	)		(7.1	)

All other liabilities		863			569			614			817			882			(19	)		(2.2	)
Shareholders’ equity		5,285			4,928			7,225			7,019			6,323			(1,038	)		(16.4	)

Total Liabilities and Shareholders’ Equity	$	51,680		$	51,497		$	54,153		$	54,607		$	54,660		$	(2,980	)		(5.5	)%


N.M., not a meaningful value.

⁽¹⁾		For purposes of this analysis, nonaccrual loans are reflected in the average balances of loans.

Huntington Bancshares Incorporated
Consolidated Quarterly Net Interest Margin Analysis
(Unaudited)


	Average Rates⁽²⁾
	2009									2008
Fully taxable equivalent basis ⁽¹⁾	Third			Second			First			Fourth			Third
Assets
Interest bearing deposits in banks		0.28	%		0.37	%		0.45	%		1.44	%		2.17	%
Trading account securities		1.96			2.22			4.04			5.32			5.45
Federal funds sold and securities purchased under resale agreements		0.14			0.82			0.20			0.24			2.02
Loans held for sale		5.20			5.19			5.04			6.58			6.54
Investment securities:
Taxable		3.99			4.63			5.60			5.74			5.54
Tax-exempt		6.77			6.83			6.61			7.02			6.80

Total investment securities		4.04			4.69			5.71			5.94			5.73

Loans and leases:⁽³⁾
Commercial:
Commercial and industrial		5.19			5.00			4.60			5.01			5.46
Commercial real estate:
Construction		2.61			2.78			2.76			4.55			4.69
Commercial		3.43			3.56			3.76			5.07			5.33

Commercial real estate		3.26			3.39			3.55			4.96			5.19

Total commercial		4.40			4.35			4.15			4.99			5.35

Consumer:
Automobile loans		7.34			7.28			7.20			7.17			7.13
Automobile leases		6.25			6.12			6.03			5.82			5.70

Automobile loans and leases		7.22			7.13			7.06			6.98			6.89
Home equity		5.75			5.75			5.13			5.87			6.19
Residential mortgage		5.03			5.12			5.71			5.84			5.83
Other loans		7.21			8.22			8.97			9.25			9.71

Total consumer		5.91			5.95			5.92			6.28			6.41

Total loans and leases		5.04			5.02			4.90			5.53			5.80

Total earning assets		4.86	%		4.99	%		4.99	%		5.57	%		5.77	%


Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — noninterest bearing		—	%		—	%		—	%		—	%		—	%
Demand deposits — interest bearing		0.22			0.18			0.14			0.34			0.51
Money market deposits		1.20			1.14			1.02			1.31			1.66
Savings and other domestic deposits		1.33			1.37			1.50			1.72			1.79
Core certificates of deposit		3.27			3.50			3.81			4.02			4.05

Total core deposits		1.88			2.06			2.28			2.50			2.58
Other domestic deposits of $250,000 or more		2.24			2.61			2.92			3.39			3.50
Brokered deposits and negotiable CDs		2.49			2.54			2.97			3.39			3.37
Deposits in foreign offices		0.20			0.20			0.17			0.90			1.49

Total deposits		1.92			2.11			2.33			2.58			2.66
Short-term borrowings		0.25			0.26			0.25			0.85			1.42
Federal Home Loan Bank advances		0.92			1.13			1.03			3.04			2.92
Subordinated notes and other long-term debt		2.58			2.91			3.29			4.49			4.29

Total interest bearing liabilities		1.93	%		2.14	%		2.31	%		2.74	%		2.79	%


Net interest rate spread		2.93	%		2.85	%		2.68	%		2.83	%		2.98	%
Impact of non-interest bearing funds on margin		0.27			0.25			0.29			0.35			0.31

Net interest margin		3.20	%		3.10	%		2.97	%		3.18	%		3.29	%


⁽¹⁾		Fully taxable equivalent (FTE) yields are calculated assuming a 35% tax rate. See page 6 for the FTE adjustment.

⁽²⁾		Loan, lease, and deposit average rates include impact of applicable derivatives and non-deferrable fees.

⁽³⁾		For purposes of this analysis, nonaccrual loans are reflected in the average balances of loans.

Huntington Bancshares Incorporated
Selected Quarterly Income Statement Data ⁽¹⁾
(Unaudited)


	2009									2008						3Q09 vs 3Q08
(in thousands, except per share amounts)	Third			Second			First			Fourth			Third			Amount			Percent
Interest income	$	553,846		$	563,004		$	569,957		$	662,508		$	685,728		$	(131,882	)		(19.2)	%
Interest expense		191,027			213,105			232,452			286,143			297,092			(106,065	)		(35.7	)

Net interest income		362,819			349,899			337,505			376,365			388,636			(25,817	)		(6.6	)
Provision for credit losses		475,136			413,707			291,837			722,608			125,392			349,744			N.M.

Net interest (loss) income after provision for credit losses		(112,317	)		(63,808	)		45,668			(346,243	)		263,244			(375,561	)		N.M.

Service charges on deposit accounts		80,811			75,353			69,878			75,247			80,508			303			0.4
Brokerage and insurance income		33,996			32,052			39,948			31,233			34,309			(313	)		(0.9	)
Trust services		25,832			25,722			24,810			27,811			30,952			(5,120	)		(16.5	)
Electronic banking		28,017			24,479			22,482			22,838			23,446			4,571			19.5
Bank owned life insurance income		13,639			14,266			12,912			13,577			13,318			321			2.4
Automobile operating lease income		12,795			13,116			13,228			13,170			11,492			1,303			11.3
Mortgage banking income (loss)		21,435			30,827			35,418			(6,747	)		10,302			11,133			N.M.
Securities (losses) gains		(2,374	)		(7,340	)		2,067			(127,082	)		(73,790	)		71,416			(96.8	)
Other income		41,901			57,470			18,359			17,052			37,320			4,581			12.3

Total noninterest income		256,052			265,945			239,102			67,099			167,857			88,195			52.5

Personnel costs		172,152			171,735			175,932			196,785			184,827			(12,675	)		(6.9	)
Outside data processing and other services		37,999			39,266			32,432			31,230			32,386			5,613			17.3
Net occupancy		25,382			24,430			29,188			22,999			25,215			167			0.7
OREO and foreclosure expense		38,968			26,524			9,887			8,171			9,113			29,855			N.M.
Equipment		20,967			21,286			20,410			22,329			22,102			(1,135	)		(5.1	)
Amortization of intangibles		16,995			17,117			17,135			19,187			19,463			(2,468	)		(12.7	)
Professional services		18,108			16,658			16,454			16,430			12,234			5,874			48.0
Marketing		8,259			7,491			8,225			9,357			7,049			1,210			17.2
Automobile operating lease expense		10,589			11,400			10,931			10,483			9,093			1,496			16.5
Telecommunications		5,902			6,088			5,890			5,892			6,007			(105	)		(1.7	)
Printing and supplies		3,950			4,151			3,572			4,175			4,316			(366	)		(8.5	)
Goodwill impairment		—			4,231			2,602,713			—			—			—			—
Other expense		41,826			(10,395	)		37,000			43,056			7,191			34,635			N.M.

Total noninterest expense		401,097			339,982			2,969,769			390,094			338,996			62,101			18.3

(Loss) Income before income taxes		(257,362	)		(137,845	)		(2,684,999	)		(669,238	)		92,105			(349,467	)		N.M.
(Benefit) Provision for income taxes		(91,172	)		(12,750	)		(251,792	)		(251,949	)		17,042			(108,214	)		N.M.

Net (loss) income	$	(166,190	)	$	(125,095	)	$	(2,433,207	)	$	(417,289	)	$	75,063		$	(241,253	)		N.M.	%


Dividends on preferred shares		29,223			57,451			58,793			23,158			12,091			17,132			N.M.


Net (loss) income applicable to common shares	$	(195,413	)	$	(182,546	)	$	(2,492,000	)	$	(440,447	)	$	62,972		$	(258,385	)		N.M.	%


Average common shares — basic		589,708			459,246			366,919			366,054			366,124			223,584			61.1	%
Average common shares — diluted ⁽²⁾		589,708			459,246			366,919			366,054			367,361			222,347			60.5

Per common share
Net (loss) income — basic	$	(0.33	)	$	(0.40	)	$	(6.79	)	$	(1.20	)	$	0.17		$	(0.50	)		N.M.	%
Net (loss) income — diluted		(0.33	)		(0.40	)		(6.79	)		(1.20	)		0.17			(0.50	)		N.M.
Cash dividends declared		0.0100			0.0100			0.0100			0.1325			0.1325			(0.123	)		(92.8	)

Return on average total assets		(1.28)	%		(0.97)	%		(18.22)	%		(3.04)	%		0.55	%		(1.83)	%		N.M.	%
Return on average total shareholders’ equity		(12.5	)		(10.2	)		N.M.			(23.6	)		4.7			(17.2	)		N.M.
Return on average tangible shareholders’ equity ⁽³⁾		(13.3	)		(10.3	)		18.4			(43.2	)		11.6			(24.90	)		N.M.
Net interest margin ⁽⁴⁾		3.20			3.10			2.97			3.18			3.29			(0.09	)		(2.7	)
Efficiency ratio ⁽⁵⁾		61.4			51.0			60.5			64.6			50.3			11.1			22.1
Effective tax rate (benefit)		(35.4	)		(9.2	)		(9.4	)		(37.6	)		18.5			(53.9	)		N.M.

Revenue — fully taxable equivalent (FTE)
Net interest income	$	362,819		$	349,899		$	337,505		$	376,365		$	388,636		$	(25,817	)		(6.6	)
FTE adjustment		4,177			1,216			3,582			3,641			5,451			(1,274	)		(23.4	)

Net interest income⁽⁴⁾		366,996			351,115			341,087			380,006			394,087			(27,091	)		(6.9	)
Noninterest income		256,052			265,945			239,102			67,099			167,857			88,195			52.5

Total revenue ⁽⁴⁾	$	623,048		$	617,060		$	580,189		$	447,105		$	561,944		$	61,104			10.9	%


N.M., not a meaningful value.

⁽¹⁾		Comparisons for presented periods are impacted by a number of factors. Refer to the “Significant Items” discussion.

⁽²⁾		For all the quarterly periods presented above, the impact of the convertible preferred stock issued in April of 2008 was excluded from the diluted share calculation because the result would have been higher than basic earnings per common share (anti-dilutive) for the periods.

⁽³⁾		Net income (loss) excluding expense for amortization of intangibles for the period divided by average tangible shareholders’ equity. Average tangible shareholders’ equity equals average stockholders’ equity less average intangible assets and goodwill. Expense for amortization of intangibles and average intangible assets are net of deferred tax liability, and calculated assuming a 35% tax rate.

⁽⁴⁾		On a fully taxable equivalent (FTE) basis assuming a 35% tax rate.

⁽⁵⁾		Noninterest expense less amortization of intangibles divided by the sum of FTE net interest income and noninterest income excluding securities (losses) gains.

Huntington Bancshares Incorporated
Quarterly Mortgage Banking Income
(Unaudited)


	2009									2008						3Q09 vs 3Q08
(in thousands, except as noted)	Third			Second			First			Fourth			Third			Amount			Percent
Mortgage Banking Income
Origination and secondary marketing	$	16,491		$	31,782		$	29,965		$	7,180		$	7,647		$	8,844			N.M.	%
Servicing fees		12,320			12,045			11,840			11,660			11,838			482			4.1
Amortization of capitalized servicing⁽¹⁾		(10,050	)		(14,445	)		(12,285	)		(6,462	)		(6,234	)		(3,816	)		(61.2	)
Other mortgage banking income		4,109			5,381			9,404			2,959			3,519			590			16.8

Sub-total		22,870			34,763			38,924			15,337			16,770			6,100			36.4
MSR valuation adjustment ⁽¹⁾		(17,348	)		46,551			(10,389	)		(63,355	)		(10,251	)		(7,097	)		69.2
Net trading gains (losses) related to MSR hedging		15,913			(50,487	)		6,883			41,271			3,783			12,130			N.M.

Total mortgage banking income (loss)	$	21,435		$	30,827		$	35,418		$	(6,747	)	$	10,302		$	11,133			N.M.	%


Mortgage originations (in millions)	$	998		$	1,587		$	1,546		$	724		$	680		$	318			46.8	%
Average trading account securities used to hedge MSRs (in millions)		19			20			223			857			941			(922	)		(98.0	)
Capitalized mortgage servicing rights⁽²⁾		200,969			219,282			167,838			167,438			230,398			(29,429	)		(12.8	)
Total mortgages serviced for others (in millions)⁽²⁾		16,145			16,246			16,315			15,754			15,741			404			2.6
MSR % of investor servicing portfolio		1.24	%		1.35	%		1.03	%		1.06	%		1.46	%		(0.22	)%		(15.1	)


Net Impact of MSR Hedging
MSR valuation adjustment⁽¹⁾	$	(17,348	)	$	46,551		$	(10,389	)	$	(63,355	)	$	(10,251	)	$	(7,097	)		69.2	%
Net trading gains (losses) related to MSR hedging		15,913			(50,487	)		6,883			41,271			3,783			12,130			N.M.
Net interest income related to MSR hedging		191			199			2,441			9,473			8,368			(8,177	)		(97.7	)

Net impact of MSR hedging	$	(1,244	)	$	(3,737	)	$	(1,065	)	$	(12,611	)	$	1,900		$	(3,144	)		N.M.	%


N.M., not a meaningful value.

⁽¹⁾		The change in fair value for the period represents the MSR valuation adjustment, net of amortization of capitalized servicing.

⁽²⁾		At period end.

Huntington Bancshares Incorporated
Quarterly Credit Reserves Analysis
(Unaudited)


	2009									2008
(in thousands)	Third			Second			First			Fourth			Third

Allowance for loan and lease losses, beginning of period	$	917,680		$	838,549		$	900,227		$	720,738		$	679,403
Loan and lease losses		(377,443	)		(359,444	)		(353,005	)		(571,053	)		(96,388	)
Recoveries of loans previously charged off		21,501			25,037			11,514			10,433			12,637

Net loan and lease losses		(355,942	)		(334,407	)		(341,491	)		(560,620	)		(83,751	)

Provision for loan and lease losses		472,137			413,538			289,001			728,046			125,086
Economic reserve transfer		—			—			—			12,063			—
Allowance of assets sold		—			—			(9,188	)		—			—
Allowance for loans transferred to held-for-sale		(1,904	)		—			—			—			—

Allowance for loan and lease losses, end of period	$	1,031,971		$	917,680		$	838,549		$	900,227		$	720,738


Allowance for unfunded loan commitments and letters of credit, beginning of period	$	47,144		$	46,975		$	44,139		$	61,640		$	61,334

Provision for (Reduction in) unfunded loan commitments and letters of credit losses		2,999			169			2,836			(5,438	)		306
Economic reserve transfer		—			—			—			(12,063	)		—

Allowance for unfunded loan commitments and letters of credit, end of period	$	50,143		$	47,144		$	46,975		$	44,139		$	61,640


Total allowances for credit losses	$	1,082,114		$	964,824		$	885,524		$	944,366		$	782,378


Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases		2.77			% 2.38			% 2.12			% 2.19			% 1.75	%
Nonaccrual loans and leases (NALs)		47			50			54			60			123
Nonperforming assets (NPAs)		44			46			47			55			107

Total allowances for credit losses (ACL) as % of:
Total loans and leases		2.90			% 2.51			% 2.24			% 2.30			% 1.90	%
Nonaccrual loans and leases		50			53			57			63			134
Nonperforming assets		46			48			50			58			116

Huntington Bancshares Incorporated
Quarterly Net Charge-Off Analysis
(Unaudited)


	2009									2008
(in thousands)	Third			Second			First			Fourth			Third

Net charge-offs by loan and lease type:
Commercial and industrial	$	68,842	⁽¹⁾	$	98,300	⁽²⁾	$	210,648	⁽³⁾	$	473,426	⁽⁴⁾	$	29,646
Commercial real estate:
Construction		50,359			31,360			25,642			2,390			3,539
Commercial		118,866			141,261			57,139			35,991			7,446

Commercial real estate		169,225			172,621			82,781			38,381			10,985

Total commercial		238,067			270,921			293,429			511,807			40,631

Consumer:
Automobile loans		8,988			12,379			14,971			14,885			9,813
Automobile leases		1,753			2,227			3,086			3,666			3,532

Automobile loans and leases		10,741			14,606			18,057			18,551			13,345
Home equity		28,045			24,687			17,680			19,168			15,828
Residential mortgage⁽⁵⁾		68,955			17,160			6,298			7,328			6,706
Other loans		10,134			7,033			6,027			3,766			7,241

Total consumer		117,875			63,486			48,062			48,813			43,120


Total net charge-offs	$	355,942		$	334,407		$	341,491		$	560,620		$	83,751


Net charge-offs — annualized percentages:
Commercial:
Commercial and industrial ^{(1), (2), (3), (4)}		2.13	%		2.91	%		6.22	%		13.78	%		0.87	%
Commercial real estate:
Construction		11.14			6.45			5.05			0.45			0.68
Commercial		6.72			7.79			2.83			1.77			0.39

Commercial real estate		7.62			7.51			3.27			1.50			0.45

Total commercial		4.37			4.77			4.96			8.54			0.69

Consumer:
Automobile loans		1.25			1.73			1.56			1.53			1.02
Automobile leases		2.04			2.11			2.39			2.31			1.84

Automobile loans and leases		1.33			1.78			1.66			1.64			1.15
Home equity		1.48			1.29			0.93			1.02			0.85
Residential mortgage⁽⁵⁾		6.15			1.47			0.55			0.62			0.56
Other loans		5.36			4.03			3.59			2.22			4.32

Total consumer		2.94			1.56			1.12			1.12			0.98


Net charge-offs as a % of average loans		3.76	%		3.43	%		3.34	%		5.41	%		0.82	%


⁽¹⁾		The 2009 third quarter included net recoveries totaling $4,080 thousand associated with the Franklin restructuring.

⁽²⁾		The 2009 second quarter included net recoveries totaling $9,884 thousand associated with the Franklin restructuring.

⁽³⁾		The 2009 first quarter included net charge-offs totaling $128,338 thousand associated with the Franklin restructuring.

⁽⁴⁾		The 2008 fourth quarter included net charge-offs totaling $423,269 thousand associated with Franklin.

⁽⁵⁾		Effective with the 2009 third quarter, a change to accelerate the timing for when a partial charge-off is recognized was made. This change resulted in $31,952 thousand of charge-offs in the 2009 third quarter.

Huntington Bancshares Incorporated
Quarterly Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)
(Unaudited)


	2009									2008
(in thousands)	September 30,			June 30,			March 31,			December 31,			September 30,
Nonaccrual loans and leases (NALs):
Commercial and industrial ⁽¹⁾	$	612,701		$	456,734		$	398,286		$	932,648		$	174,207
Commercial real estate		1,133,661			850,846			629,886			445,717			298,844
Residential mortgage⁽¹⁾		390,521			475,488			486,955			98,951			85,163
Home equity		44,182			35,299			37,967			24,831			27,727


Total nonaccrual loans and leases		2,181,065			1,818,367			1,553,094			1,502,147			585,941
Other real estate, net:
Residential⁽¹⁾		81,807			107,954			143,856			63,058			59,302
Commercial		60,784			64,976			66,906			59,440			14,176

Total other real estate, net		142,591			172,930			210,762			122,498			73,478
Impaired loans held for sale ⁽²⁾		20,386			11,287			11,887			12,001			13,503
Other NPAs ⁽³⁾		—			—			—			—			2,397

Total nonperforming assets	$	2,344,042		$	2,002,584		$	1,775,743		$	1,636,646		$	675,319


Nonperforming Franklin loans ⁽¹⁾
Commercial	$	—		$	—		$	—		$	650,225		$	—
Residential mortgage		322,796			342,207			360,106			—			—
OREO		30,996			43,623			79,596			—			—
Home Equity		15,704			2,437			6,000			—			—

Total nonperforming Franklin loans	$	369,496		$	388,267		$	445,702		$	650,225		$	—


Nonaccrual loans and leases as a % of total loans and leases (NAL ratio)		5.85	%		4.72	%		3.93	%		3.66	%		1.42	%

NPA ratio ⁽⁴⁾		6.26			5.18			4.46			3.97			1.64


	2009									2008
(in thousands)	Third			Second			First			Fourth			Third
Nonperforming assets, beginning of period	$	2,002,584		$	1,775,743		$	1,636,646		$	675,319		$	624,736
New nonperforming assets		899,855			750,318			622,515			509,320			175,345
Franklin impact, net ⁽¹⁾		(18,771	)		(57,436	)		(204,523	)		650,225			—
Returns to accruing status		(52,498	)		(40,915	)		(36,056	)		(13,756	)		(9,104	)
Loan and lease losses		(305,405	)		(282,713	)		(168,382	)		(95,687	)		(47,288	)
OREO losses		(30,623	)		(20,614	)		(4,034	)		(4,648	)		(5,504	)
Payments		(117,710	)		(95,124	)		(61,452	)		(66,536	)		(43,319	)
Sales		(33,390	)		(26,675	)		(8,971	)		(17,591	)		(19,547	)


Nonperforming assets, end of period	$	2,344,042		$	2,002,584		$	1,775,743		$	1,636,646		$	675,319


⁽¹⁾		Franklin loans were reported as accruing restructured commercial loans for the three-month period ended September 30, 2008. For the three-month period ended December 31, 2008, Franklin loans were reported as nonaccruing commercial and industrial loans. For the three-month periods ended March 31, 2009, June 30, 2009, and September 30, 2009, nonaccruing Franklin loans were reported as residential mortgage loans, home equity loans, and OREO; reflecting the 2009 first quarter restructuring.

⁽²⁾		The September 30, 2009, figure primarily represent impaired residential mortgage loans held for sale. All other presented figures represent impaired loans obtained from the Sky Financial acquisition. Held for sale loans are carried at the lower of cost or fair value less costs to sell.

⁽³⁾		Other NPAs represent certain investment securities backed by mortgage loans to borrowers with lower FICO scores.

⁽⁴⁾		Nonperforming assets divided by the sum of loans and leases, impaired loans held for sale, net other real estate, and other NPAs.

Huntington Bancshares Incorporated
Quarterly Accruing Past Due Loans and Leases and Accruing Restructured Loans
(Unaudited)


	2009									2008
(in thousands)	September 30,			June 30,			March 31,			December 31,			September 30,
Accruing loans and leases past due 90 days or more:
Commercial and industrial	$	—		$	—		$	—		$	10,889		$	24,407
Commercial real estate		2,546			—			—			59,425			58,867
Residential mortgage (excluding loans guaranteed by the U.S. government)		46,592			97,937			88,386			71,553			58,280
Home equity		45,334			35,328			35,717			29,039			23,224
Other loans and leases		14,175			13,474			15,606			18,039			14,580

Total, excl. loans guaranteed by the U.S. government	$	108,647		$	146,739		$	139,709		$	188,945		$	179,358
Add: loans guaranteed by U.S. government		122,019			99,379			88,551			82,576			68,729

Total accruing loans and leases past due 90 days or more, including loans guaranteed by the U.S. government	$	230,666		$	246,118		$	228,260		$	271,521		$	248,087

Excluding loans guaranteed by the U.S. government, as a percent of total loans and leases		0.29	%		0.38	%		0.35	%		0.46	%		0.44	%
Guaranteed by U.S. government, as a percent of total loans and leases		0.33	%		0.26	%		0.22	%		0.20	%		0.17	%
Including loans guaranteed by the U.S. government, as a percent of total loans and leases		0.62	%		0.64	%		0.58	%		0.66	%		0.60	%

Accruing restructured loans:
Commercial ⁽¹⁾	$	153,010		$	267,975		$	201,508		$	185,333		$	364,939
Residential mortgage		204,463			158,568			108,011			82,857			71,512
Other		42,406			35,720			27,014			41,094			40,414

Total accruing restructured loans	$	399,879		$	462,263		$	336,533		$	309,284		$	476,865


⁽¹⁾		Franklin loans were reported as accruing restructured commercial loans for the three-month period ended September 30, 2008. For the three-month period ended December 31, 2008, Franklin loans were reported as nonaccruing commercial and industrial loans. For the three-month periods ended March 31, 2009, June 30, 2009, and September 30, 2009, nonaccruing Franklin loans were reported as residential mortgage loans, home equity loans, and OREO; reflecting the 2009 first quarter restructuring.

Huntington Bancshares Incorporated
Quarterly Common Stock Summary, Capital, and Other Data
(Unaudited)

Quarterly common stock summary


	2009						2008
(in thousands, except per share amounts)	Third		Second		First		Fourth		Third

Common stock price, per share
High ⁽¹⁾	$	4.970	$	6.180	$	8.000	$	11.650	$	13.500
Low⁽¹⁾		3.260		1.550		1.000		5.260		4.370
Close		4.710		4.180		1.660		7.660		7.990
Average closing price		4.209		3.727		2.733		8.276		7.510

Dividends, per share
Cash dividends declared per common share	$	0.0100	$	0.0100	$	0.0100	$	0.1325	$	0.1325

Common shares outstanding
Average — basic		589,708		459,246		366,919		366,054		366,124
Average — diluted ⁽²⁾		589,708		459,246		366,919		366,054		367,361
Ending		714,469		568,741		390,682		366,058		366,069
Book value per common share	$	5.59	$	6.23	$	7.80	$	14.62	$	15.86
Tangible book value per common share ⁽³⁾		4.69		5.07		6.08		5.64		6.85

Capital data


	2009									2008
(in millions)	September 30,			June 30,			March 31,			December 31,			September 30,

Calculation of tangible equity / asset ratio:
Total shareholders’ equity	$	5,675		$	5,221		$	4,815		$	7,229		$	6,376
Less: goodwill		(444	)		(448	)		(452	)		(3,055	)		(3,056	)
Less: other intangible assets		(303	)		(322	)		(340	)		(357	)		(376	)
Add: related deferred tax liability ⁽³⁾		106			112			119			125			131

Total tangible equity		5,034			4,563			4,142			3,942			3,075
Less: Preferred equity		(1,683	)		(1,679	)		(1,768	)		(1,878	)		(569	)

Total tangible common equity	$	3,351		$	2,884		$	2,374		$	2,064		$	2,506


Total assets	$	52,513		$	51,397		$	51,702		$	54,353		$	54,661
Less: goodwill		(444	)		(448	)		(452	)		(3,055	)		(3,056	)
Less: other intangible assets		(303	)		(322	)		(340	)		(357	)		(376	)
Add: related deferred tax liability ⁽³⁾		106			112			119			125			131

Total tangible assets	$	51,872		$	50,739		$	51,029		$	51,066		$	51,360


Tangible equity / tangible asset ratio		9.71	%		8.99	%		8.12	%		7.72	%		5.99	%
Tangible common equity / tangible asset ratio		6.46			5.68			4.65			4.04			4.88

Other capital data:
Total risk-weighted assets	$	44,128		$	45,463		$	46,383		$	46,994		$	46,608

Tier 1 leverage ratio⁽⁴⁾		11.30	%		10.62	%		9.67	%		9.82	%		7.99	%
Tier 1 common risk-based capital ratio ⁽⁴⁾		7.82			6.80			5.63			5.05			5.89
Tier 1 risk-based capital ratio⁽⁴⁾		13.04			11.85			11.14			10.72			8.80
Total risk-based capital ratio⁽⁴⁾		16.24			14.94			14.26			13.91			12.03

Tangible equity / risk-weighted assets ratio		11.41			10.04			8.94			8.39			6.60

Other data:
Number of employees (full-time equivalent)		10,194			10,342			10,540			10,951			10,901
Number of domestic full-service banking offices⁽⁵⁾		610			610			608			613			612


⁽¹⁾		High and low stock prices are intra-day quotes obtained from NASDAQ.

⁽²⁾		For all of the quarterly periods presented above, the impact of the convertible preferred stock issued in April of 2008 was excluded from the diluted share calculation because the result would have been higher than basic earnings per common share (anti-dilutive) for the periods.

⁽³⁾		Other intangible assets are net of deferred tax liability, and calculated assuming a 35% tax rate.

⁽⁴⁾		Based on an interim decision by the banking agencies on December 14, 2006, Huntington has excluded the impact of adopting Statement 158 from the regulatory capital calculations.

⁽⁵⁾		Includes 9 Private Financial Group offices.

Huntington Bancshares Incorporated
Consolidated Year to Date Average Balance Sheets
(Unaudited)


	YTD Average Balances
Fully taxable equivalent basis	Nine Months Ended September 30,						Change
(in millions)	2009			2008			Amount			Percent
Assets
Interest bearing deposits in banks	$	372		$	290		$	82			28.3	%
Trading account securities		157			1,139			(982	)		(86.2	)
Federal funds sold and securities purchased under resale agreements		8			565			(557	)		(98.6	)
Loans held for sale		620			446			174			39.0
Investment securities:
Taxable		5,227			3,908			1,319			33.8
Tax-exempt		239			711			(472	)		(66.4	)

Total investment securities		5,466			4,619			847			18.3
Loans and leases:⁽¹⁾
Commercial:
Commercial and industrial		13,327			13,535			(208	)		(1.5	)
Commercial real estate:
Construction		1,928			2,047			(119	)		(5.8	)
Commercial		7,464			7,521			(57	)		(0.8	)

Commercial real estate		9,392			9,568			(176	)		(1.8	)

Total commercial		22,719			23,103			(384	)		(1.7	)

Consumer:
Automobile loans		3,193			3,601			(408	)		(11.3	)
Automobile leases		427			924			(497	)		(53.8	)

Automobile loans and leases		3,620			4,525			(905	)		(20.0	)
Home equity		7,600			7,364			236			3.2
Residential mortgage		4,584			5,113			(529	)		(10.3	)
Other loans		709			695			14			2.0

Total consumer		16,513			17,697			(1,184	)		(6.7	)

Total loans and leases		39,232			40,800			(1,568	)		(3.8	)
Allowance for loan and lease losses		(931	)		(672	)		(259	)		(38.5	)

Net loans and leases		38,301			40,128			(1,827	)		(4.6	)

Total earning assets		45,855			47,859			(2,004	)		(4.2	)

Cash and due from banks		2,195			968			1,227			N.M.
Intangible assets		1,626			3,454			(1,828	)		(52.9	)
All other assets		3,689			3,419			270			7.9

Total Assets	$	52,434		$	55,028		$	(2,594	)		(4.7	)%


Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — noninterest bearing	$	5,919		$	5,058		$	861			17.0	%
Demand deposits — interest bearing		4,591			4,008			583			14.5
Money market deposits		6,524			6,292			232			3.7
Savings and other domestic deposits		4,946			5,185			(239	)		(4.6	)
Core certificates of deposit		12,308			11,317			991			8.8

Total core deposits		34,288			31,860			2,428			7.6
Other domestic deposits of $250,000 or more		899			1,737			(838	)		(48.2	)
Brokered deposits and negotiable CDs		3,414			3,309			105			3.2
Deposits in foreign offices		509			1,015			(506	)		(49.9	)

Total deposits		39,110			37,921			1,189			3.1
Short-term borrowings		951			2,584			(1,633	)		(63.2	)
Federal Home Loan Bank advances		1,423			3,312			(1,889	)		(57.0	)
Subordinated notes and other long-term debt		4,461			4,043			418			10.3

Total interest bearing liabilities		40,026			42,802			(2,776	)		(6.5	)

All other liabilities		684			982			(298	)		(30.3	)
Shareholders’ equity		5,805			6,186			(381	)		(6.2	)

Total Liabilities and Shareholders’ Equity	$	52,434		$	55,028		$	(2,594	)		(4.7	)%

N.M., not a meaningful value.


⁽¹⁾		For purposes of this analysis, nonaccrual loans are reflected in the average balances of loans.

Huntington Bancshares Incorporated
Consolidated Year to Date Net Interest Margin Analysis
(Unaudited)


	YTD Average Rates⁽²⁾
	Nine Months Ended September 30,
Fully Taxable Equivalent basis ⁽¹⁾	2009			2008
Assets
Interest bearing deposits in banks		0.36	%		2.96	%
Trading account securities		3.24			5.26
Federal funds sold and securities purchased under resale agreements		0.19			2.52
Loans held for sale		5.15			5.86
Investment securities:
Taxable		4.60			5.58
Tax-exempt		6.72			6.77

Total investment securities		4.70			5.76
Loans and leases ⁽³⁾:
Commercial:
Commercial and industrial		4.92			5.79
Commercial real estate:
Construction		2.72			5.14
Commercial		3.59			5.68

Commercial real estate		3.41			5.56

Total commercial		4.30			5.68

Consumer:
Automobile loans		7.26			7.16
Automobile leases		6.13			5.60
Automobile loans and leases		7.13			6.85
Home equity		5.55			6.60
Residential mortgage		5.29			5.83
Other loans		8.09			10.05

Total consumer		5.93			6.58

Total loans and leases		4.99			6.08

Total earning assets		4.94	%		6.01	%


Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — noninterest bearing		—	%		—	%
Demand deposits — interest bearing		0.19			0.62
Money market deposits		1.13			2.11
Savings and other domestic deposits		1.40			1.95
Core certificates of deposit		3.53			4.36

Total core deposits		2.07			2.80
Other domestic deposits of $250,000 or more		2.63			3.87
Brokered deposits and negotiable CDs		2.67			3.75
Deposits in foreign offices		0.19			1.75

Total deposits		2.12			2.93
Short-term borrowings		0.26			1.99
Federal Home Loan Bank advances		1.03			3.30
Subordinated notes and other long-term debt		2.94			4.52

Total interest bearing liabilities		2.12			3.05

Net interest rate spread		2.82			2.96
Impact of non-interest bearing funds on margin		0.27			0.31

Net interest margin		3.09	%		3.27	%


⁽¹⁾		Fully taxable equivalent (FTE) yields are calculated assuming a 35% tax rate. See page 15 for the FTE adjustment.

⁽²⁾		Loan and lease and deposit average rates include impact of applicable derivatives and non-deferrable fees.

⁽³⁾		For purposes of this analysis, nonaccrual loans are reflected in the average balances of loans.

Huntington Bancshares Incorporated
Selected Year to Date Income Statement Data ⁽¹⁾
(Unaudited)


	Nine Months Ended September 30,						Change
(in thousands, except per share amounts)	2009			2008			Amount			Percent
Interest income	$	1,686,807		$	2,135,814		$	(449,007	)		(21.0	)%
Interest expense		636,584			980,488			(343,904	)		(35.1	)

Net interest income		1,050,223			1,155,326			(105,103	)		(9.1	)
Provision for credit losses		1,180,680			334,855			845,825			N.M.

Net interest (loss) income after provision for credit losses		(130,457	)		820,471			(950,928	)		N.M.

Service charges on deposit accounts		226,042			232,806			(6,764	)		(2.9	)
Brokerage and insurance income		105,996			106,563			(567	)		(0.5	)
Trust services		76,364			98,169			(21,805	)		(22.2	)
Electronic banking		74,978			67,429			7,549			11.2
Bank owned life insurance income		40,817			41,199			(382	)		(0.9	)
Automobile operating lease income		39,139			26,681			12,458			46.7
Mortgage banking income		87,680			15,741			71,939			N.M.
Securities losses		(7,647	)		(70,288	)		62,641			(89.1	)
Other income		117,730			121,738			(4,008	)		(3.3	)

Total noninterest income		761,099			640,038			121,061			18.9

Personnel costs		519,819			586,761			(66,942	)		(11.4	)
Outside data processing and other services		109,697			96,933			12,764			13.2
Net occupancy		79,000			85,429			(6,429	)		(7.5	)
OREO and foreclosure expense		75,379			25,284			50,095			N.M.
Equipment		62,663			71,636			(8,973	)		(12.5	)
Amortization of intangibles		51,247			57,707			(6,460	)		(11.2	)
Professional services		51,220			33,183			18,037			54.4
Marketing		23,975			23,307			668			2.9
Automobile operating lease expense		32,920			20,799			12,121			58.3
Telecommunications		17,880			19,116			(1,236	)		(6.5	)
Printing and supplies		11,673			14,695			(3,022	)		(20.6	)
Goodwill impairment		2,606,944			—			2,606,944			—
Other expense		68,431			52,427			16,004			30.5

Total noninterest expense		3,710,848			1,087,277			2,623,571			N.M.

(Loss) Income before income taxes		(3,080,206	)		373,232			(3,453,438	)		N.M.
(Benefit) Provision for income taxes		(355,714	)		69,747			(425,461	)		N.M.

Net (loss) income	$	(2,724,492	)	$	303,485		$	(3,027,977	)		N.M.	%


Dividends declared on preferred shares		145,467			23,242			122,225			N.M.


Net (loss) income applicable to common shares	$	(2,869,959	)	$	280,243		$	(3,150,202	)		N.M.	%


Average common shares — basic		471,958			366,188			105,770			28.9	%
Average common shares — diluted ⁽²⁾		471,958			367,268			104,690			28.5

Per common share
Net (loss) income per common share — basic	$	(6.08	)	$	0.83		$	(6.91	)		N.M.	%
Net (loss) income per common share — diluted		(6.08	)		0.83			(6.91	)		N.M.
Cash dividends declared		0.030			0.530			(0.500	)		(94.3	)

Return on average total assets		(6.95	)%		0.74	%		(7.69	)%		N.M.	%
Return on average total shareholders’ equity		(62.7	)		6.6			(69.3	)		N.M.
Return on average tangible shareholders’ equity ⁽³⁾		(83.8	)		15.9			(99.7	)		N.M.
Net interest margin ⁽⁴⁾		3.09			3.27			(0.18	)		(5.5	)
Efficiency ratio ⁽⁵⁾		57.6			54.7			2.9			5.3
Effective tax rate (benefit)		(11.5	)		18.7			(30.2	)		N.M.

Revenue — fully taxable equivalent (FTE)
Net interest income	$	1,050,223		$	1,155,326		$	(105,103	)		(9.1	)%
FTE adjustment ⁽⁴⁾		8,975			16,577			(7,602	)		(45.9	)

Net interest income		1,059,198			1,171,903			(112,705	)		(9.6	)
Noninterest income		761,099			640,038			121,061			18.9

Total revenue	$	1,820,297		$	1,811,941		$	8,356			0.5	%

N.M., not a meaningful value.


⁽¹⁾		Comparisons for presented periods are impacted by a number of factors. Refer to the “Significant Items” discussion.

⁽²⁾		For all periods presented above, the impact of the convertible preferred stock issued in April of 2008 was excluded from the diluted share calculation because the result was more than basic earnings per common share (anti-dilutive) for the period.

⁽³⁾		Net income excluding expense for amortization of intangibles for the period divided by average tangible shareholders’ equity. Average tangible shareholders’ equity equals average total shareholders’ equity less average intangible assets and goodwill. Expense for amortization of intangibles and average intangible assets are net of deferred tax liability, and calculated assuming a 35% tax rate.

⁽⁴⁾		On a fully taxable equivalent (FTE) basis assuming a 35% tax rate.

⁽⁵⁾		Noninterest expense less amortization of intangibles divided by the sum of FTE net interest income and noninterest income excluding securities (losses) gains.

Huntington Bancshares Incorporated
Year to Date Mortgage Banking Income
(Unaudited)


	Nine Months Ended September 30,						Change
(in thousands, except as noted)	2009			2008			Amount			Percent
Mortgage Banking Income

Origination and secondary marketing	$	78,238		$	30,077		$	48,161			N.M.	%
Servicing fees		36,205			33,898			2,307			6.8
Amortization of capitalized servicing⁽¹⁾		(36,780	)		(20,172	)		(16,608	)		(82.3	)
Other mortgage banking income		18,894			13,809			5,085			36.8

Sub-total		96,557			57,612			38,945			67.6
MSR valuation adjustment ⁽¹⁾		18,814			10,687			8,127			76.0
Net trading losses related to MSR hedging		(27,691	)		(52,558	)		24,867			(47.3	)

Total mortgage banking income	$	87,680		$	15,741		$	71,939			N.M.	%


Mortgage originations (in millions)	$	4,131		$	3,049			1,082			35.5	%
Average trading account securities used to hedge MSRs (in millions)		87			1,089			(1,002	)		(92.0	)
Capitalized mortgage servicing rights⁽²⁾		200,969			230,398			(29,429	)		(12.8	)
Total mortgages serviced for others (in millions)⁽²⁾		16,145			15,741			404			2.6
MSR % of investor servicing portfolio		1.24	%		1.46	%		(0.22	)%		(15.1	)


Net Impact of MSR Hedging
MSR valuation adjustment⁽¹⁾	$	18,814		$	10,687		$	8,127			76.0	%
Net trading losses related to MSR hedging		(27,691	)		(52,558	)		24,867			(47.3	)
Net interest income related to MSR hedging		2,831			23,666			(20,835	)		(88.0	)

Net impact of MSR hedging	$	(6,046	)	$	(18,205	)	$	12,159			(66.8	)%

N.M., not a meaningful value.


⁽¹⁾		The change in fair value for the period represents the MSR valuation adjustment, net of amortization of capitalized servicing.

⁽²⁾		At period end.

Huntington Bancshares Incorporated
Year to Date Credit Reserves Analysis
(Unaudited)


	Nine Months Ended September 30,
(in thousands)	2009			2008

Allowance for loan and lease losses, beginning of period	$	900,227		$	578,442

Loan and lease losses		(1,089,892	)		(235,276	)
Recoveries of loans previously charged off		58,052			37,829

Net loan and lease losses		(1,031,840	)		(197,447	)

Provision for loan and lease losses		1,174,676			339,743
Allowance of assets sold		(9,188	)		—
Allowance for loans transferred to held-for-sale		(1,904	)		—

Allowance for loan and lease losses, end of period	$	1,031,971		$	720,738


Allowance for unfunded loan commitments and letters of credit, beginning of period	$	44,139		$	66,528
Provision for (Reduction in) unfunded loan commitments and letters of credit losses		6,004			(4,888	)

Allowance for unfunded loan commitments and letters of credit, end of period	$	50,143		$	61,640


Total allowances for credit losses	$	1,082,114		$	782,378


Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases		2.77	%		1.75	%
Nonaccrual loans and leases (NALs)		47			123
Nonperforming assets (NPAs)		44			107

Total allowances for credit losses (ACL) as % of:
Total loans and leases		2.90	%		1.90	%
Nonaccrual loans and leases		50			134
Nonperforming assets		46			116

Huntington Bancshares Incorporated
Year to Date Net Charge-Off Analysis
(Unaudited)


	Nine Months Ended September 30,
(in thousands)	2009			2008

Net charge-offs by loan and lease type:
Commercial:
Commercial and industrial	$	377,790	⁽¹⁾	$	52,739
Commercial real estate:
Construction		107,361			4,236
Commercial		317,266			26,123

Commercial real estate		424,627			30,359

Total commercial		802,417			83,098

Consumer:
Automobile loans		36,338			26,343
Automobile leases		7,066			9,671

Automobile loans and leases		43,404			36,014
Home equity		70,412			48,388
Residential mortgage ⁽²⁾		92,413			13,919
Other loans		23,194			16,028

Total consumer		229,423			114,349


Total net charge-offs	$	1,031,840		$	197,447


Net charge-offs — annualized percentages:
Commercial:
Commercial and industrial ⁽¹⁾		3.78	%		0.52	%
Commercial real estate:
Construction		7.42			0.28
Commercial		5.67			0.46

Commercial real estate		6.03			0.42

Total commercial		4.71			0.48

Consumer:
Automobile loans		1.52			0.98
Automobile leases		2.21			1.40

Automobile loans and leases		1.60			1.06
Home equity		1.24			0.88
Residential mortgage ⁽²⁾		2.69			0.36

Other loans		4.36			3.07

Total consumer		1.85			0.86


Net charge-offs as a % of average loans		3.51	%		0.65	%


⁽¹⁾		The 2009 first nine-month period included net charge-offs totaling $114,374 thousand associated with the Franklin relationship.

⁽²⁾		Effective with the 2009 third quarter, a change to accelerate the timing for when a partial charge-off is recognized was made. This change resulted in $31,952 thousand of charge-offs in the 2009 third quarter.

Huntington Bancshares Incorporated
Year to Date Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)
(Unaudited)


	September 30,
(in thousands)	2009			2008

Nonaccrual loans and leases (NALs):
Commercial and industrial⁽¹⁾	$	612,701		$	174,207
Commercial real estate		1,133,661			298,844
Residential mortgage ⁽¹⁾		390,521			85,163
Home equity		44,182			27,727

Total nonaccrual loans and leases		2,181,065			585,941
Other real estate, net:
Residential		81,807			59,302
Commercial		60,784			14,176

Total other real estate, net		142,591			73,478
Impaired loans held for sale ⁽²⁾		20,386			13,503
Other NPAs ⁽³⁾		—			2,397

Total nonperforming assets	$	2,344,042		$	675,319


Nonperforming Franklin loans ⁽¹⁾
Commercial	$	—		$	—
Residential mortgage		322,796			—
OREO		30,996			—
Home Equity		15,704			—

Total nonperforming Franklin loans	$	369,496		$	—


Nonaccrual loans and leases as a % of total loans and leases (NAL ratio)		5.85	%		1.42	%

NPA ratio ⁽⁴⁾		6.26			1.64

(in thousands)

Nonperforming assets, beginning of period	$	1,636,646		$	472,902
New nonperforming assets		2,272,688			572,743
Franklin impact, net ⁽¹⁾		(280,730	)		—
Returns to accruing status		(129,469	)		(28,405	)
Loan and lease losses		(756,500	)		(106,562	)
OREO losses		(55,271	)		(14,934	)
Payments		(274,286	)		(128,156	)
Sales		(69,036	)		(92,269	)

Nonperforming assets, end of period	$	2,344,042		$	675,319


⁽¹⁾		Franklin loans were reported as accruing restructured commercial loans at September 30, 2008. At September 30, 2009, nonaccruing Franklin loans were reported as residential mortgage loans, home equity loans, and OREO, reflecting the 2009 first quarter restructuring.

⁽²⁾		The September 30, 2009, figure primarily represent impaired residential mortgage loans held for sale. All other presented figures represent impaired loans obtained from the Sky Financial acquisition. Held for sale loans are carried at the lower of cost or fair value less costs to sell.

⁽³⁾		Other NPAs represent certain investment securities backed by mortgage loans to borrowers with lower FICO scores.

⁽⁴⁾		Nonperforming assets divided by the sum of loans and leases, impaired loans held for sale, net other real estate, and other NPAs.

Huntington Bancshares Incorporated
Year to Date Accruing Past Due Loans and Leases and Accruing Restructured Loans
(Unaudited)


	September 30,
(in thousands)	2009			2008

Accruing loans and leases past due 90 days or more:

Commercial and industrial	$	—		$	24,407
Commercial real estate		2,546			58,867
Residential mortgage (excluding loans guaranteed by the U.S. government)		46,592			58,280
Home equity		45,334			23,224
Other loans and leases		14,175			14,580

Total, excl. loans guaranteed by the U.S. government	$	108,647		$	179,358
Add: loans guaranteed by U.S. government		122,019			68,729

Total accruing loans and leases past due 90 days or more, including loans guaranteed by the U.S. government	$	230,666		$	248,087


Excluding loans guaranteed by the U.S. government, as a percent of total loans and leases		0.29	%		0.44	%

Guaranteed by U.S. government, as a percent of total loans and leases		0.33	%		0.17	%

Including loans guaranteed by the U.S. government, as a percent of total loans and leases		0.62	%		0.60	%
Accruing restructured loans
Commercial ⁽¹⁾	$	153,010		$	364,939
Residential mortgage		204,463			71,512
Other		42,406			40,414

Total accruing restructured loans	$	399,879		$	476,865


⁽¹⁾		Franklin loans were reported as accruing restructured commercial loans at September 30, 2008. At September 30, 2009, nonaccruing Franklin loans were reported as residential mortgage loans, home equity loans, and OREO, reflecting the 2009 first quarter restructuring.