Exhibit 99.3
[HUNTINGTON LOGO]
FOURTH QUARTER CREDIT ACTIONS
JANUARY 7, 2003
1
[HUNTINGTON LOGO]
MEETING PARTICIPANTS
TOM HOAGLIN
- - CHAIRMAN, PRESIDENT AND CHIEF EXECUTIVE OFFICER
MIKE MCMENNAMIN
- - VICE CHAIRMAN AND CHIEF FINANCIAL OFFICER
JAY GOULD
- - SR. VICE PRESIDENT - INVESTOR RELATIONS
2
[HUNTINGTON LOGO]
4Q 2002 CREDIT ACTIONS
ACTIONS
- - SOLD $47 MILLION OF NONPERFORMING ASSETS WITH $21 MILLION OF INCREMENTAL
CHARGE-OFFS
- - CHARGED-OFF $30 MILLION HEALTH CARE FINANCE CREDIT CLASSIFIED
NONPERFORMING IN NOVEMBER
RATIONALE
- - EARLY RESOLUTION TO LONG TERM WORKOUT NPAS
- - ECONOMICALLY ATTRACTIVE TRANSACTION
RESULTS
- - NO NET EARNINGS IMPACT TO 2002 FOURTH QUARTER RESULTS
- - NONPERFORMING ASSET COVERAGE INCREASES FROM 191% AT 9/30/02 TO 269%
- - LOAN LOSS RESERVE RATIO DECREASES FROM 2.00% AT 9/30/02 TO 1.76%
3
[HUNTINGTON LOGO]
4Q 2002 CREDIT ACTIONS - IMPACT
4Q02
---------------------------------------
BEFORE AFTER CHANGE
($MM) 3Q02 ACTIONS ACTIONS VS. 3Q02
---- ------- ------- --------
NPA - $ $ 214 $ 214 $ 137 $ (77)
- - % 1.05% 1.02% 0.65% (40) BP
NET CHARGE-OFFS $ 44 $ 44 $ 95 $ 51
0.87% 0.84% 1.84% 97 BP
LLR / LOANS 2.00% 2.00% 1.76% (24) BP
LLR / NPAS 191% 196% 269% 78 PCT PTS
4
[HUNTINGTON LOGO]
LOAN LOSS RESERVE ADEQUACY - 9/30/02
LLR / LOANS
UNION BANC CAL 2.40%
KEYCORP 2.37
HUNTINGTON 2.00
COMERICA 1.90
HIBERNIA 1.86
HUNTINGTON - 12/31/02 1.76
M&T BANK 1.66
UNION PLANTERS 1.54
NATIONAL CITY 1.52
FIFTH THIRD 1.50
SOUTH TRUST 1.48
BANKNORTH GROUP 1.47
AMSOUTH 1.45
ZIONS 1.45
REGIONS FINANCIAL 1.43
COMPASS BANCSHARES 1.41
MARSHALL & ILSLEY 1.40
BB & T 1.36
FIRST TENNESSEE 1.36
NATIONAL COMMERCE 1.28
CHARTER ONE 1.14
19 BHC MEDIAN X HBAN 1.47
LLR / NPA
HIBERNIA 325%
BANKNORTH GROUP 293
HUNTINGTON - 12/31/02 269
FIFTH THIRD 267
NATIONAL COMMERCE 255
COMPASS BANCSHARES 230
AMSOUTH 201
ZIONS 201
SOUTH TRUST 198
HUNTINGTON 191
M&T BANK 177
BB & T 170
FIRST TENNESSEE 161
MARSHALL & ILSLEY 159
UNION BANC CAL 157
CHARTER ONE 156
KEYCORP 146
NATIONAL CITY 127
COMERICA 124
REGIONS FINANCIAL 114
UNION PLANTERS 94
19 BHC MEDIAN X HBAN 177
5
[HUNTINGTON LOGO]
A STRONG 1.76% LLR/LOAN RATIO
- - REDUCED RISK PROFILE OF LOAN PORTFOLIO
- $500 MILLION REDUCTION IN SHARED NATIONAL CREDITS SINCE JUNE 30,
2001
- MUCH HIGHER CREDIT QUALITY OF AUTO LOAN AND LEASE PRODUCTION OVER
LAST TWO YEARS WITH LOWER EXPECTED LOSSES
- APPROXIMATELY 70% OF 2002'S LOAN GROWTH WAS IN LOW CREDIT RISK
RESIDENTIAL REAL ESTATE AND HOME EQUITY LOANS
- - STRENGTHENED CREDIT CULTURE...FROM UNDERWRITING TO WORK OUT
6
[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.
A NUMBER OF FACTORS, INCLUDING BUT NOT LIMITED TO THOSE SET FORTH UNDER THE
HEADING "BUSINESS RISKS" INCLUDED IN ITEM 1 OF HUNTINGTON'S ANNUAL REPORT ON
FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 2001, AND OTHER FACTORS
DESCRIBED FROM TIME TO TIME IN HUNTINGTON'S OTHER FILINGS WITH THE
SECURITIES AND EXCHANGE COMMISSION, COULD CAUSE ACTUAL CONDITIONS, EVENTS,
OR RESULTS TO DIFFER SIGNIFICANTLY FROM THOSE DESCRIBED IN THE
FORWARD-LOOKING STATEMENTS.
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.
7
[HUNTINGTON LOGO]
8