EXHIBIT 12 Huntington Bancshares Incorporated Quarterly Ratios of Earnings to Fixed Charges (Unaudited and Restated)
2003 2002 -------------------------- ------------------------------------------ (in thousands of dollars) SECOND FIRST FOURTH THIRD SECOND - ---------------------------------------------------------------------------------------------------------------------------- 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 - ---------------------------------------------------------------------------------------------------------------------------- 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 - ---------------------------------------------------------------------------------------------------------------------------- Earnings available for fixed charges, including interest on deposits $ 250,939 $ 243,481 $ 223,583 $ 251,845 $ 229,054 ============================================================================================================================ 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 - ---------------------------------------------------------------------------------------------------------------------------- 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 - ---------------------------------------------------------------------------------------------------------------------------- Total fixed charges, including interest on deposits $ 117,773 $ 121,121 $ 133,094 $ 135,778 $ 133,701 ============================================================================================================================ 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