EXHIBIT 12
Huntington Bancshares Incorporated
Quarterly Ratios of Earnings to Fixed Charges
(Unaudited and Restated)
2003 2002
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(in thousands of dollars) SECOND FIRST FOURTH THIRD SECOND
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EARNINGS:
Income before taxes $ 133,166 $ 122,360 $ 90,489 $ 116,067 $ 95,353
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 174,556 163,771 135,179 157,198 135,295
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 $ 250,939 $ 243,481 $ 223,583 $ 251,845 $ 229,054
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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 4.22 X 3.95 X 3.02 X 3.82 X 3.39 X
Including interest on deposits 2.13 X 2.01 X 1.68 X 1.85 X 1.71 X