Exhibit 99.3 BUILDING A BRAND NEW [HUNTINGTON LOGO] HUNTINGTON CORPORATE UPDATE DECEMBER 18, 2001 1 [HUNTINGTON LOGO] AGENDA - - DISCUSSION OVERVIEW AND COMPANY UPDATE - TOM HOAGLIN, CHAIRMAN & CEO - - FOURTH QUARTER OUTLOOK - MIKE McMENNAMIN, VICE CHAIRMAN & CFO 2 [HUNTINGTON LOGO] DISCUSSION SUMMARY FOURTH QUARTER PERFORMANCE - -------------------------- - - OPERATING EPS OF $0.29 - $0.31 CONSISTENT WITH PRIOR GUIDANCE - - CONTINUED WEAK ECONOMIC ENVIRONMENT - NET CHARGE-OFFS IN 1.03%-1.05% RANGE - NPA INCREASE OF $15-$20 MILLION - - ONE-TIME ITEMS - $32 MILLION AFTER-TAX BENEFIT RELATED TO ISSUANCE OF REIT PREFERRED STOCK - $50 MILLION PRE-TAX ADDITION TO ALLOWANCE FOR LOAN LOSSES STRATEGIC UPDATE - ---------------- - - STRATEGIC INITIATIVES ARE WELL UNDERWAY 3 [HUNTINGTON LOGO] FLORIDA SALE UPDATE JULY DECISION TO SELL FLORIDA OPERATIONS SEPTEMBER ANNOUNCED SALE TO SUNTRUST DECEMBER RECEIVED JUSTICE DEPARTMENT APPROVAL SUNTRUST ANNOUNCED BRANCH DIVESTITURE TO FLORIDAFIRST FEDERAL RESERVE APPROVAL EXPECTED 1Q02 CLOSE TRANSACTION 2002 TARGETED EPS ACCRETION $0.03 - $0.05 4 [HUNTINGTON LOGO] BRANCH CONSOLIDATIONS ORIGINAL TARGET 43 LESS: THOSE ELIMINATED FOLLOWING REASSESSMENT (5) --- REVISED TARGET 38 COMPLETED BY 12/31/01 31 COMPLETED IN 1Q02 7 - - 100% OF DEPOSITS RETAINED - - $4 MILLION 2002 EXPENSE RUN-RATE IMPROVEMENT 5 [HUNTINGTON LOGO] IMPROVING EFFICIENCY - - EFFICIENCY RATIO 1Q01 2Q01 3Q01 4Q01 EST ---- ---- ---- -------- 62% 59% 57% 56% - - ON TRACK TO ACHIEVE 2001 EXPENSE GROWTH REDUCTION GOALS - REVIEWING CAPITAL EXPENDITURES MORE CRITICALLY - INCREASING FOCUS ON PERSONNEL COSTS AND INCENTIVE PLANS - MORE FAVORABLE VENDOR CONTRACT NEGOTIATIONS LONG-TERM EFFICIENCY RATIO GOAL 48% - 52% 6 [HUNTINGTON LOGO] STRATEGIC ACHIEVEMENTS - - HIGH QUALITY MANAGEMENT TEAM IN PLACE - - CREATING A NEW CULTURE - - MANAGING BUSINESS "BY THE NUMBERS" - - STRENGTHENED THE BALANCE SHEET - - FOCUS ON IMPROVING RETURNS OF CURRENT BUSINESS 7 [HUNTINGTON LOGO] FOURTH QUARTER OUTLOOK 8 [HUNTINGTON LOGO] FOURTH QUARTER HIGHLIGHTS 3Q01 ACTUALS 4Q01 ESTIMATE ------------ ------------- OPERATING EPS (1) $0.30 $0.29 - $0.31 LOAN GROWTH (2) 7% 2% - 3% DEPOSIT GROWTH (2) 11% 6% - 7% NET INTEREST MARGIN 4.04% 4.10% - 4.14% REVENUE GROWTH (3) -- 1% - 2% EFFICIENCY RATIO 57.5% 56% LLR/LOANS 1.67% 1.90% (1) EXCLUDES AFTER-TAX IMPACT OF ANY RESTRUCTURING ITEMS (2) ANNUALIZED LINKED-QUARTER GROWTH IN AVERAGE BALANCES (3) NOT ANNUALIZED 9 [HUNTINGTON LOGO] FOURTH QUARTER ONE-TIME ITEMS REIT PREFERRED STOCK ISSUED - --------------------------- - - ADDED $400 MILLION OF ASSETS TO REIT - - ISSUED $400 MILLION OF PREFERRED STOCK... $50 MILLION TO THE PUBLIC - - $50 MILLION INCREASE IN TIER 1 REGULATORY CAPITAL - - $32 MILLION AFTER-TAX ONE-TIME BENEFIT INCREASE IN ALLOWANCE FOR LOAN LOSSES - ------------------------------------- - - $50 MILLION PRE-TAX ADDITION TO LLR - - PROVISION EXPENSE, EXCLUDING ONE-TIME ADDITION, COVERS CHARGE-OFFS AND LOAN GROWTH - - LLR/LOANS INCREASES TO 1.90% 10 [HUNTINGTON LOGO] CREDIT QUALITY 3Q01 ACTUALS 4Q01 ESTIMATE ------------ ------------- NET CHARGE-OFFS 0.74% 1.03% - 1.05% NPA - AMOUNT $210 MM $225 - $230 MM - LINKED-QUARTER CHANGE +27% +7% - 10% NPAs/TOTAL LOANS + OREO 0.97% 1.04% - 1.08% LLR/LOANS 1.67% 1.90% 11 [HUNTINGTON LOGO] FLORIDA SALE - FINANCIAL DIMENSIONS LOANS $2.7 B DEPOSITS 4.7 EPS ACCRETION $0.03 - $0.05 $600+ MILLION OF EXCESS CAPITAL GENERATED AT A TANGIBLE COMMON EQUITY OF 6.50% 12 [HUNTINGTON LOGO] SUMMARY - - FOURTH QUARTER OPERATING EPS OF $0.29 - $0.31 - - STRENGTHENED BALANCE SHEET WITH NO NEGATIVE IMPACT TO THE EARNINGS RUN-RATE - - STRATEGIC INITIATIVES ON TRACK - - 2002 GUIDANCE IN JANUARY 13 [HUNTINGTON LOGO] PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 FORWARD LOOKING STATEMENT DISCLOSURE THIS PRESENTATION AND DISCUSSION, INCLUDING RELATED QUESTIONS AND ANSWERS, MAY CONTAIN FORWARD-LOOKING STATEMENTS, INCLUDING CERTAIN PLANS, EXPECTATIONS, GOALS, AND PROJECTIONS 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: - - CHANGES IN ECONOMIC CONDITIONS - THE SUCCESSFUL INTEGRATION OF ACQUIRED BUSINESSES - - MOVEMENTS IN INTEREST RATES - THE NATURE, EXTENT AND TIMING OF GOVERNMENTAL ACTIONS AND REFORMS - - COMPETITIVE PRESSURES ON PRODUCT - EXTENDED DISRUPTION OF VITAL PRICING AND SERVICES INFRASTRUCTURE - - SUCCESS AND TIMING OF BUSINESS STRATEGIES ALL FORWARD-LOOKING STATEMENTS INCLUDED IN THIS DISCUSSION, INCLUDING RELATED QUESTIONS AND ANSWERS, ARE BASED ON INFORMATION AVAILABLE AT THE TIME OF THE DISCUSSION. HUNTINGTON ASSUMES NO OBLIGATION TO UPDATE ANY FORWARD-LOOKING STATEMENT. 14 BUILDING A BRAND NEW [HUNTINGTON LOGO] HUNTINGTON 15