EXHIBIT 12
HUNTINGTON BANCSHARES INCORPORATED
QUARTERLY RATIOS OF EARNINGS TO FIXED CHARGES
(UNAUDITED)
2003 2002
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(in thousands of dollars) SECOND FIRST FOURTH THIRD SECOND
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EARNINGS:
Income before taxes $ 134,547 $ 120,584 $ 92,195 $ 119,845 $ 98,092
Add: Fixed charges, excluding interest on deposits 41,390 41,411 44,690 41,131 39,942
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Earnings available for fixed charges,
excluding interest on deposits 175,937 161,995 136,885 160,976 138,034
Add: Interest on deposits 76,383 79,710 88,404 94,647 93,759
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Earnings available for fixed charges,
including interest on deposits $ 252,320 $ 241,705 $ 225,289 $ 255,623 $ 231,793
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FIXED CHARGES:
Interest expense, excluding
interest on deposits 38,501 38,545 41,757 38,265 37,063
Interest factor in net rental expense 2,889 2,866 2,933 2,866 2,879
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Total fixed charges, excluding
interest on deposits 41,390 41,411 44,690 41,131 39,942
Add: Interest on deposits 76,383 79,710 88,404 94,647 93,759
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Total fixed charges, including
interest on deposits $ 117,773 $ 121,121 $ 133,094 $ 135,778 $ 133,701
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RATIO OF EARNINGS TO FIXED CHARGES
Excluding interest on deposits 4.25 X 3.91 X 3.06 X 3.91 X 3.46 X
Including interest on deposits 2.14 X 2.00 X 1.69 X 1.88 X 1.73 X