EX-99.2

Note:
The preparation of financial statements in conformity with accounting principals generally accepted in the United States requires management to make estimates and assumptions that affect amounts reported in the financial statements. Actual results could differ from those estimates. Certain prior period amounts have been reclassified to conform to the current year’s presentation.


	December 31,			December 31,			Change December '03 vs. '02
(in thousands)	2003			2002			Amount			Percent
Assets
Cash and due from banks	$	899,689		$	969,483		$	(69,794	)		(7.2	)%
Federal funds sold and securities purchased under resale agreements		96,814			49,280			47,534			96.5
Interest bearing deposits in banks		33,627			37,300			(3,673	)		(9.8	)
Trading account securities		7,589			241			7,348			N.M.
Mortgage loans held for sale		226,729			528,379			(301,650	)		(57.1	)
Securities available for sale — at fair value		4,925,232			3,403,369			1,521,863			44.7
Investment securities — fair value $3,937 and $7,725, respectively		3,828			7,546			(3,718	)		(49.3	)
Total loans and leases⁽¹⁾		21,075,118			18,587,403			2,487,715			13.4
Less allowance for loan and lease losses		335,254			336,648			(1,394	)		(0.4	)

Net loans and leases		20,739,864			18,250,755			2,489,109			13.6

Operating lease assets		1,260,440			2,200,525			(940,085	)		(42.7	)
Bank owned life insurance		927,671			886,214			41,457			4.7
Premises and equipment		349,712			341,366			8,346			2.4
Goodwill and other intangible assets		217,009			218,567			(1,558	)		(0.7	)
Customers’ acceptance liability		9,553			16,745			(7,192	)		(43.0	)
Accrued income and other assets		786,047			618,162			167,885			27.2

Total Assets	$	30,483,804		$	27,527,932		$	2,955,872			10.7	%


Liabilities and Shareholders’ Equity
Total deposits⁽¹⁾	$	18,487,395		$	17,499,326		$	988,069			5.6	%
Short-term borrowings		1,452,304			2,141,016			(688,712	)		(32.2	)
Bank acceptances outstanding		9,553			16,745			(7,192	)		(43.0	)
Federal Home Loan Bank Advances		1,273,000			1,013,000			260,000			25.7
Subordinated notes		990,470			738,678			251,792			34.1
Other long-term debt		4,544,509			2,495,123			2,049,386			82.1
Company obligated mandatorily redeemable preferred capital securities of subsidiary trusts holding solely junior subordinated debentures of the Parent Company⁽²⁾		—			300,000			(300,000	)		(100.0	)
Accrued expenses and other liabilities		1,451,571			1,134,251			317,320			28.0

Total Liabilities		28,208,802			25,338,139			2,870,663			11.3


Shareholders’ equity
Preferred stock — authorized 6,617,808 shares; none outstanding		—			—			—			—
Common stock — without par value; authorized 500,000,000 shares; issued 257,866,255 shares; outstanding 229,008,088 and 232,878,851 shares, respectively		2,483,542			2,484,421			(879	)		(0.0	)
Less 28,858,167 and 24,987,404 treasury shares, respectively		(548,576	)		(475,399	)		(73,177	)		15.4
Accumulated other comprehensive income		2,678			62,300			(59,622	)		(95.7	)
Retained earnings		337,358			118,471			218,887			N.M.

Total Shareholders’ Equity		2,275,002			2,189,793			85,209			3.9

Total Liabilities and Shareholders’ Equity	$	30,483,804		$	27,527,932		$	2,955,872			10.7	%


	December 31, 2003				December 31, 2002
By Type	Balance		%		Balance		%
Commercial	$	5,313,517		23.8	$	5,608,443		27.0
Commercial real estate		4,172,083		18.7		3,722,992		17.9

Total Commercial and Commercial Real Estate		9,485,600		42.5		9,331,435		44.9

Consumer
Automobile loans		2,991,642		13.4		3,041,954		14.6
Automobile leases		1,902,170		8.5		873,599		4.2
Home equity		3,792,189		17.0		3,198,487		15.4
Residential mortgage		2,530,665		11.3		1,746,177		8.4
Other loans		372,852		1.7		395,751		1.9

Total Consumer		11,589,518		51.9		9,255,968		44.5

Total Loans and Direct Financing Leases		21,075,118		94.4		18,587,403		89.4
Operating Lease Assets		1,260,440		5.6		2,200,525		10.6

Total	$	22,335,558		100.0	$	20,787,928		100.0


By Business Segment

Regional Banking
Central Ohio / West Virginia	$	5,453,855		24.4	$	4,823,142		23.2
Northern Ohio		2,575,793		11.5		2,606,688		12.5
Southern Ohio / Kentucky		1,676,790		7.5		1,505,494		7.2
West Michigan		2,077,035		9.3		1,871,239		9.0
East Michigan		1,268,423		5.7		1,191,665		5.7
Indiana		730,620		3.3		682,579		3.3

Total Regional Banking		13,782,516		61.7		12,680,807		60.9

Dealer Sales		7,058,563		31.6		6,882,395		33.1
Private Financial Group		1,298,843		5.8		1,061,528		5.1
Treasury / Other		195,636		0.9		163,198		0.9

Total Loans and Leases	$	22,335,558		100.0	$	20,787,928		100.0


	December 31, 2003				December 31, 2002
By Type	Balance		%		Balance		%
Demand deposits
Non-interest bearing	$	2,986,992		16.2	$	3,058,044		17.5
Interest bearing		6,411,380		34.7		5,389,920		30.8
Savings deposits		2,959,993		16.0		2,851,158		16.3
Retail certificates of deposit		2,461,531		13.3		3,261,403		18.6
Other domestic time deposits		631,205		3.4		694,903		4.0

Total Core Deposits		15,451,101		83.6		15,255,428		87.2

Domestic time deposits of $100,000 or more		789,341		4.3		731,959		4.2
Brokered time deposits and negotiable CDs		1,771,738		9.6		1,092,754		6.2
Foreign time deposits		475,215		2.5		419,185		2.4

Total Deposits	$	18,487,395		100.0	$	17,499,326		100.0


By Business Segment

Regional Banking
Central Ohio / West Virginia	$	5,422,558		29.3	$	5,361,063		30.6
Northern Ohio		3,587,861		19.4		3,610,980		20.6
Southern Ohio / Kentucky		1,441,418		7.8		1,365,225		7.8
West Michigan		2,457,318		13.3		2,409,743		13.8
East Michigan		1,988,772		10.8		1,948,252		11.1
Indiana		648,205		3.5		603,854		3.5

Total Regional Banking		15,546,132		84.1		15,299,117		87.4

Dealer Sales		71,249		0.4		58,249		0.3
Private Financial Group		1,162,969		6.3		937,997		5.4
Treasury / Other⁽¹⁾		1,707,045		9.2		1,203,963		6.9

Total Deposits	$	18,487,395		100.0	$	17,499,326		100.0


	2003								2002
Fully Tax Equivalent Basis⁽¹⁾	Fourth		Third		Second		First		Fourth		Third		Second		First
Assets
Interest bearing deposits in banks	$	32	$	33	$	45	$	37	$	34	$	35	$	29	$	34
Trading account securities		11		11		23		12		9		7		6		5
Federal funds sold and securities purchased under resale agreements		117		103		69		57		83		76		68		62
Mortgages held for sale		295		898		602		459		467		267		174		381
Securities:
Taxable		4,081		3,646		3,382		3,014		3,029		2,953		2,735		2,713
Tax exempt		421		362		275		274		234		108		96		101

Total Securities		4,502		4,008		3,657		3,288		3,263		3,061		2,831		2,814

Loans and Leases:
Commercial		5,382		5,380		5,626		5,623		5,555		5,504		5,616		6,047
Real Estate
Construction		1,297		1,258		1,239		1,187		1,070		1,247		1,258		1,290
Commercial		2,830		2,744		2,621		2,565		2,601		2,315		2,232		2,363
Consumer
Automobile loans		3,529		3,594		2,830		3,079		2,939		2,764		2,569		2,700
Automobile leases		1,802		1,590		1,306		1,006		759		461		164		92

Automobile loans and leases		5,331		5,184		4,136		4,085		3,698		3,225		2,733		2,792

Home equity		3,678		3,503		3,359		3,238		3,166		3,060		2,907		3,206
Residential mortgage		2,501		2,075		1,887		1,832		1,694		1,486		1,385		1,180
Other loans		387		367		379		389		399		406		415		483

Total Consumer		11,897		11,129		9,761		9,544		8,957		8,177		7,440		7,661

Total Loans and Leases		21,406		20,511		19,247		18,919		18,183		17,243		16,546		17,361

Allowance for loan and lease losses		384		363		338		349		386		367		357		371

Net loans and leases		21,022		20,148		18,909		18,570		17,797		16,876		16,189		16,990

Total earning assets		26,363		25,564		23,643		22,772		22,039		20,689		19,654		20,657

Operating lease inventory		1,355		1,565		1,802		2,076		2,328		2,597		2,842		2,976
Cash and due from banks		817		804		735		740		717		763		722		819
Intangible assets		217		218		218		218		225		202		213		536
All other assets		2,021		2,062		2,005		1,967		1,938		1,905		1,895		1,905

Total Assets	$	30,389	$	29,850	$	28,065	$	27,424	$	26,861	$	25,789	$	24,969	$	26,522


Liabilities and Shareholders’ Equity
Core deposits
Non-interest bearing deposits	$	3,131	$	3,218	$	3,046	$	2,958	$	2,955	$	2,868	$	2,739	$	3,041
Interest bearing demand deposits		6,466		6,558		6,100		5,597		5,305		5,269		4,923		5,148
Savings deposits		2,824		2,808		2,804		2,771		2,746		2,766		2,808		3,097
Retail certificates of deposit		2,492		2,561		2,798		2,963		3,305		3,453		3,509		4,222
Other domestic time deposits		631		656		673		682		702		714		718		799

Total core deposits		15,544		15,801		15,421		14,971		15,013		15,070		14,697		16,307

Domestic time deposits of $100,000 or more		828		803		808		769		730		777		843		1,046
Brokered time deposits and negotiable CDs		1,851		1,421		1,241		1,155		1,057		907		649		302
Foreign time deposits		522		536		426		514		409		370		296		270

Total deposits		18,745		18,561		17,896		17,409		17,209		17,124		16,485		17,925

Short-term borrowings		1,433		1,393		1,635		1,947		2,115		1,793		1,636		1,748
Federal Home Loan Bank advances		1,273		1,273		1,267		1,216		848		228		14		17
Subordinated notes and other long-term debt, including preferred capital securities		5,432		5,197		4,010		3,570		3,380		3,281		3,375		3,433

Total interest bearing liabilities		23,752		23,206		21,762		21,184		20,597		19,558		18,771		20,082

All other liabilities		1,278		1,187		1,106		1,116		1,146		1,149		1,181		1,089
Shareholders’ equity		2,228		2,239		2,151		2,166		2,163		2,214		2,278		2,310

Total Liabilities and Shareholders’ Equity	$	30,389	$	29,850	$	28,065	$	27,424	$	26,861	$	25,789	$	24,969	$	26,522

⁽¹⁾ Fully tax equivalent yields are calculated assuming a 35% tax rate. See page 5 for the fully taxable equivalent adjustment.


	Average Rates⁽³⁾
	2003												2002
Fully Tax Equivalent Basis⁽¹⁾	Fourth			Third			Second			First			Fourth			Third			Second			First
Assets
Interest bearing deposits in banks		1.52	%		1.38	%		1.58	%		1.61	%		1.93	%		2.06	%		2.44	%		1.96	%
Trading account securities		2.39			4.70			4.15			4.63			3.37			4.95			5.37			2.79
Federal funds sold and securities purchased under resale agreements		1.30			1.92			2.19			2.14			1.83			1.40			1.51			1.43
Mortgages held for sale		5.31			5.16			5.42			5.56			5.84			6.57			7.07			6.51
Securities:
Taxable		4.25			4.23			4.59			5.17			5.53			6.01			6.33			6.43
Tax exempt		6.97			6.85			7.29			7.22			7.15			7.52			7.69			7.76

Total Securities		4.50			4.46			4.79			5.34			5.64			6.07			6.37			6.48

Loans and Leases:⁽²⁾
Commercial		4.82			4.84			5.26			5.40			5.59			5.69			5.67			5.58
Real Estate
Construction		4.24			4.17			4.07			4.06			4.15			4.60			5.06			4.93
Commercial		4.99			5.22			5.28			5.60			5.79			6.17			6.39			6.66
Consumer
Automobile loans		6.90			7.19			7.74			7.85			8.32			8.62			8.92			8.87
Automobile leases		4.98			4.99			4.69			6.04			5.93			7.78			4.72			4.69

Automobile loans and leases		6.25			6.51			6.78			7.40			7.83			8.50			8.67			8.73

Home equity		4.87			5.09			5.02			5.17			5.64			5.83			6.00			6.39
Residential mortgage		5.20			5.32			5.76			5.95			6.06			6.27			6.46			6.89
Other loans		7.19			7.38			7.22			6.60			7.21			7.66			7.70			7.75

Total Consumer		5.64			5.87			5.99			6.33			6.69			7.05			7.16			7.40

Total Loans and Leases		5.26			5.41			5.56			5.82			6.08			6.32			6.39			6.48



Total earning assets		5.11	%		5.23	%		5.42	%		5.72	%		5.99	%		6.26	%		6.37	%		6.46	%


Liabilities and Shareholders’ Equity
Core deposits
Non-interest bearing deposits Interest bearing demand deposits		0.91	%		1.04	%		1.39	%		1.43	%		1.54	%		1.74	%		1.80	%		1.76	%
Savings deposits		1.22			1.35			1.55			1.85			1.69			1.77			1.79			1.83
Retail certificates of deposit		3.54			3.51			3.75			3.87			4.36			4.37			4.51			4.98
Other domestic time deposits		3.69			3.89			3.85			4.00			4.19			4.37			4.48			4.76

Total core deposits		1.65			1.76			2.09			2.27			2.50			2.64			2.75			2.98

Domestic time deposits of $100,000 or more		2.37			2.32			2.55			2.76			2.64			3.27			3.12			3.04
Brokered time deposits and negotiable CDs		1.52			1.63			1.79			1.98			2.25			2.37			2.48			2.48
Foreign time deposits		0.75			0.85			1.03			1.06			1.29			1.43			1.38			1.91

Total deposits		1.64			1.75			2.06			2.23			2.45			2.63			2.73			2.96

Short-term borrowings		0.78			0.85			1.06			1.16			1.40			1.44			1.51			1.98
Federal Home Loan Bank advances		2.24			1.81			1.76			1.84			1.99			2.02			5.89			6.02
Subordinated notes and other long-term debt, including preferred capital securities		2.63			2.78			2.85			3.12			3.52			3.70			3.64			3.79

Total interest bearing liabilities		1.85	%		1.93	%		2.11	%		2.26	%		2.50	%		2.69	%		2.79	%		3.01	%


Net interest rate spread		3.26	%		3.30	%		3.31	%		3.46	%		3.49	%		3.57	%		3.58	%		3.45	%
Impact of non-interest bearing funds on margin		0.16			0.16			0.16			0.17			0.13			0.12			0.12			0.08

Net Interest Margin		3.42	%		3.46	%		3.47	%		3.63	%		3.62	%		3.69	%		3.70	%		3.53	%


	2003												2002
(in thousands, except per share amounts)	Fourth			Third			Second			First			Fourth			Third			Second			First
Net Interest Income	$	224,315		$	220,471		$	202,441		$	201,759		$	199,179		$	191,265		$	180,261		$	178,869
Provision for loan and lease losses		26,341			51,615			49,193			36,844			51,236			54,304			49,876			39,010

Net Interest Income After Provision for Loan and Lease Losses		197,974			168,856			153,248			164,915			147,943			136,961			130,385			139,859

Operating lease income		105,307			117,624			128,574			138,193			149,259			160,164			171,617			176,034
Service charges on deposit accounts		44,763			42,294			40,914			39,869			41,435			37,706			35,608			38,815
Trust services		15,793			15,365			15,580			14,911			15,306			14,997			16,247			15,501
Brokerage and insurance income		14,344			13,807			14,196			15,497			13,941			13,664			16,899			17,605
Mortgage banking		9,677			30,193			7,185			11,125			5,530			2,594			7,835			16,074
Bank Owned Life Insurance income		10,410			10,438			11,043			11,137			10,722			10,723			10,722			10,956
Other service charges and fees		9,237			10,499			11,372			10,338			10,890			10,837			10,529			10,632
Gain on sales of automobile loans		16,288			—			13,496			10,255			—			—			—			—
Gain on sale of branch offices		—			13,112			—			—			—			—			—			—
Securities gains (losses)		1,280			(4,107	)		6,887			1,198			2,339			1,140			966			457
Gain on sale of Florida Operations		—			—			—			—			—			—			—			182,470
Merchant Services gain		—			—			—			—			—			24,550			—			—
Other		19,411			23,543			27,704			20,401			22,433			22,227			18,291			13,989

Total Non-Interest Income		246,510			272,768			276,951			272,924			271,855			298,602			288,714			482,533

Personnel costs		115,762			113,170			105,242			113,089			110,231			100,662			99,115			108,029
Operating lease expense		85,609			93,134			102,939			111,588			120,747			125,743			131,695			140,785
Outside data processing and other services		15,957			17,478			16,104			16,579			17,209			15,128			16,592			18,439
Equipment		16,840			16,328			16,341			16,412			17,337			17,378			16,659			16,949
Net occupancy		14,925			15,570			15,377			16,609			13,370			14,676			14,504			16,989
Professional services		12,175			11,116			9,872			9,285			9,111			9,680			7,864			6,430
Marketing		6,895			5,515			8,454			6,626			6,186			7,491			7,231			7,003
Telecommunications		5,272			5,612			5,394			5,701			5,714			5,609			5,320			6,018
Loss on early extinguishment of debt		15,250			—			—			—			—			—			—			—
Printing and supplies		3,417			3,658			2,253			3,681			3,999			3,679			3,683			3,837
Amortization of intangibles		204			204			204			204			204			204			235			1,376
Restrucuturing (releases) charges		(351	)		—			(5,315	)		(1,000	)		(7,211	)		—			—			56,184
Other		25,510			18,397			20,168			16,705			32,412			19,246			20,848			19,557

Total Non-Interest Expense		317,465			300,182			297,033			315,479			329,309			319,496			323,746			401,596

Income Before Income Taxes		127,019			141,442			133,166			122,360			90,489			116,067			95,353			220,796
Income taxes		33,758			37,230			36,676			30,630			21,226			28,052			24,375			125,321

Income before cumulative effect of change in accounting principle		93,261			104,212			96,490			91,730			69,263			88,015			70,978			95,475
Cumulative effect of change in accounting principle, net of tax⁽¹⁾		—			(13,330	)		—			—			—			—			—			—

Net Income	$	93,261		$	90,882		$	96,490		$	91,730		$	69,263		$	88,015		$	70,978		$	95,475


Per Common Share
Income before cumulative effect of change in accounting principle — Diluted	$	0.40		$	0.45		$	0.42		$	0.39		$	0.29		$	0.36		$	0.29		$	0.38
Net Income — Diluted	$	0.40		$	0.39		$	0.42		$	0.39		$	0.29		$	0.36		$	0.29		$	0.38
Cash Dividends Declared	$	0.175		$	0.175		$	0.16		$	0.16		$	0.16		$	0.16		$	0.16		$	0.16

Return on:
Average total assets⁽²⁾		1.22	%		1.39	%		1.38	%		1.36	%		1.02	%		1.35	%		1.14	%		1.46	%
Average total shareholders’ equity⁽²⁾		16.6	%		18.5	%		18.0	%		17.2	%		12.7	%		15.8	%		12.5	%		16.8	%
Net interest margin⁽³⁾		3.42	%		3.46	%		3.47	%		3.63	%		3.62	%		3.69	%		3.70	%		3.53	%
Efficiency ratio⁽⁴⁾		67.1	%		60.0	%		62.5	%		66.3	%		69.9	%		65.2	%		69.0	%		60.4	%
Effective tax rate		26.6	%		26.3	%		27.5	%		25.0	%		23.5	%		24.2	%		25.6	%		56.8	%

Revenue — Fully Taxable Equivalent (FTE)
Net Interest Income	$	224,315		$	220,471		$	202,441		$	201,759		$	199,179		$	191,265		$	180,261		$	178,869
Tax Equivalent Adjustment⁽³⁾		2,954			2,558			2,076			2,096			1,869			1,096			1,071			1,169

Net Interest Income		227,269			223,029			204,517			203,855			201,048			192,361			181,332			180,038
Non-Interest Income		246,510			272,768			276,951			272,924			271,855			298,602			288,714			482,533

Total Revenue	$	473,779		$	495,797		$	481,468		$	476,779		$	472,903		$	490,963		$	470,046		$	662,571

Total Revenue Excluding Securities Gains (Losses)	$	472,499		$	499,904		$	474,581		$	475,581		$	470,564		$	489,823		$	469,080		$	662,114

Huntington Bancshares Incorporated
Quarterly Loan and Lease Loss Reserve and Net Charge-off Analysis


	2003												2002
(in thousands)	Fourth			Third			Second			First			Fourth			Third			Second			First
Allowance for Loan and Leases Losses, Beginning of Period	$	370,135		$	340,947		$	337,017		$	336,648		$	371,033		$	351,696		$	340,851		$	369,332
Loan and lease losses		(68,023	)		(43,261	)		(49,985	)		(40,265	)		(93,890	)		(43,748	)		(45,728	)		(50,986	)
Recoveries of loans previously charged off		12,880			10,487			8,929			7,429			10,732			9,963			8,731			8,014

Net loan and lease losses		(55,143	)		(32,774	)		(41,056	)		(32,836	)		(83,158	)		(33,785	)		(36,997	)		(42,972	)

Provision for loan and lease losses		26,341			51,615			49,193			36,844			51,236			54,304			49,876			39,010
Allowance of assets purchased / (sold)		(6,079	)		—			(3,477	)		(2,981	)		—			1,264			—			(22,297	)
Allowance of securitized loans⁽¹⁾		—			10,347			(730	)		(658	)		(2,463	)		(2,446	)		(2,034	)		(2,222	)

Allowance for Loan and Lease Losses, End of Period	$	335,254		$	370,13			5 $340,94			7 $337,01			7 $336,64			8 $371,03			3 $351,69			6 $340,851


Allowance for loan and lease losses as a % of total loans and leases		1.59	%		1.75	%		1.79	%		1.78	%		1.81	%		2.08	%		2.10	%		2.10	%
Allowance for loan and lease losses as a % of non-performing loans and leases		444	%		304	%		284	%		266	%		263	%		182	%		166	%		155	%
Allowance for loan and lease losses as a % of non-performing assets		384	%		270	%		255	%		239	%		246	%		173	%		158	%		151	%

Net Charge-offs by Loan and Lease Type

Commercial	$	31,186		$	12,222		$	26,546		$	14,904		$	59,811		$	16,837		$	21,528		$	19,586
Commercial real estate		5,743			3,621			607			546			7,536			4,085			2,037			3,983

Total commercial and commercial real estate		36,929			15,843			27,153			15,450			67,347			20,922			23,565			23,569


Consumer
Automobile loans		11,346			10,773			7,524			10,623			10,398			8,602			7,356			12,760
Automobile leases		1,936			1,450			1,422			920			730			202			498			—

Automobile loans and leases		13,282			12,223			8,946			11,543			11,128			8,804			7,854			12,760

Home equity		3,464			3,416			3,671			4,053			3,526			2,934			3,096			3,950
Residential mortgage		174			246			267			145			72			123			555			122
Other loans		1,294			1,046			1,019			1,645			1,085			1,002			1,927			2,571

Total consumer		18,214			16,931			13,903			17,386			15,811			12,863			13,432			19,403


Total Net Charge-offs	$	55,143		$	32,774		$	41,056		$	32,836		$	83,158		$	33,785		$	36,997		$	42,972


Net Charge-offs — Annualized Percentages

Commercial		2.32	%		0.91	%		1.89	%		1.06	%		4.31	%		1.21	%		1.54	%		1.31	%
Commercial real estate		0.56			0.36			0.06			0.06			0.82			0.45			0.23			0.44

Total commercial and commercial real estate		1.55			0.68			1.14			0.66			2.92			0.92			1.20			0.99


Consumer
Automobile loans		1.29			1.20			1.06			1.38			1.42			1.23			1.15			1.92
Automobile leases		0.43			0.36			0.44			0.37			0.38			0.17			1.22			—

Automobile loans and leases		1.00			0.94			0.87			1.13			1.20			1.08			1.15			1.85

Home equity		0.38			0.39			0.44			0.50			0.45			0.38			0.43			0.50
Residential mortgage		0.03			0.05			0.06			0.03			0.02			0.03			0.16			0.04
Other loans		1.34			1.14			1.08			1.69			1.09			0.98			1.86			2.16

Total consumer		0.61			0.61			0.57			0.73			0.71			0.62			0.72			1.03


Net Charge-offs as a % of Average Loans		1.03	%		0.64	%		0.85	%		0.69	%		1.83	%		0.78	%		0.90	%		1.00	%

⁽¹⁾ The third quarter 2003 includes the reserve for loan losses associated with automobile loans contained in one of Huntington’s securitization trusts consolidated as a result of the adoption of FASB Interpretation No. 46 on July 1, 2003.

Huntington Bancshares Incorporated
Quarterly Non-Performing Assets and Past Due Loans and Leases


	2003												2002
(in thousands)	Fourth			Third			Second			First			Fourth			Third			Second			First
Non-accrual loans and leases:
Commercial	$	43,387		$	82,413		$	86,021		$	94,754		$	91,861		$	147,392		$	156,252		$	162,959
Commercial real estate		22,399			30,545			22,398			22,585			26,765			47,537			45,795			43,295
Residential mortgage		9,695			8,923			11,735			9,302			9,443			8,488			8,776			11,896

Total Nonaccrual Loans and Leases		75,481			121,881			120,154			126,641			128,069			203,417			210,823			218,150
Renegotiated loans		—			—			—			—			—			37			1,268			1,268

Total Non-Performing Loans and Leases		75,481			121,881			120,154			126,641			128,069			203,454			212,091			219,418
Other real estate, net		11,905			15,196			13,568			14,084			8,654			10,675			11,146			6,112

Total Non-Performing Assets	$	87,386		$	137,077		$	133,722		$	140,725		$	136,723		$	214,129		$	223,237		$	225,530


Non-performing loans and leases as a % of total loans and leases		0.36	%		0.58	%		0.63	%		0.67	%		0.69	%		1.14	%		1.26	%		1.35	%
Non-performing assets as a % of total loans and leases and other real estate		0.41	%		0.65	%		0.70	%		0.74	%		0.74	%		1.20	%		1.33	%		1.39	%

Accruing loans and leases past due 90 days or more	$	55,913		$	66,060		$	55,287		$	57,241		$	61,526		$	57,337		$	47,663		$	51,446

Accruing loans and leases past due 90 days or more as a percent of total loans and leases		0.27	%		0.31	%		0.29	%		0.30	%		0.33	%		0.32	%		0.28	%		0.32	%

Huntington Bancshares Incorporated
Quarterly Stock Summary, Capital, and Other Data


	2003								2002
	Fourth		Third		Second		First		Fourth		Third		Second		First
Common Stock Price
High	$	22.550	$	20.890	$	21.540	$	19.800	$	19.980	$	20.430	$	21.770	$	20.310
Low		19.850		19.220		18.030		17.780		16.160		16.000		18.590		16.660
Close		22.500		19.850		19.510		18.590		18.710		18.190		19.420		19.700
Average Closing Price		21.584		20.199		19.790		18.876		18.769		19.142		20.089		18.332

Dividends
Cash dividends declared on common stock	$	0.175	$	0.175	$	0.1	$	0.16	$	0.1	$	0.16	$	0.16	$	0.16

Common shares outstanding (000s)
Average — Basic		228,902		228,715		228,633		231,355		233,581		239,925		246,106		250,749
Average — Diluted		231,986		230,966		230,572		232,805		235,083		241,357		247,867		251,953
Ending		229,008		228,870		228,660		228,642		232,879		237,544		242,920		249,992
Book value per share	$	9.93	$	9.79	$	9.63	$	9.43	$	9.40	$	9.44	$	9.32	$	9.43

Common Share Repurchase Program (000s)
Number of Shares Repurchased		—		—		—		4,300		4,110		6,262		7,329		1,458


	2003												2002
	Fourth			Third			Second			First			Fourth			Third			Second			First
Balance Sheet *(in millions)*
Average operating lease assets outstanding	$	1,355		$	1,565		$	1,802		$	2,076		$	2,328		$	2,597		$	2,842		$	2,976


Income Statement *(in thousands)*
Net rental income	$	98,223		$	109,645		$	120,502		$	130,274		$	139,610		$	150,016		$	160,658		$	165,169
Fees		5,204			5,372			5,414			5,633			7,081			7,220			7,108			7,133
Recoveries — early terminations		1,880			2,607			2,658			2,286			2,568			2,928			3,851			3,732

Total Operating Lease Income		105,307			117,624			128,574			138,193			149,259			160,164			171,617			176,034


Depreciation and residual losses at termination		76,768			83,112			91,387			99,283			106,399			112,900			120,240			124,244
Losses — early terminations		8,841			10,022			11,552			12,305			14,348			12,843			11,455			16,541

Total Operating Lease Expense		85,609			93,134			102,939			111,588			120,747			125,743			131,695			140,785

Net Earnings Contribution	$	19,698		$	24,490		$	25,635		$	26,605		$	28,512		$	34,421		$	39,922		$	35,249


Earnings ratios⁽¹⁾
Net rental income		29.0	%		28.0	%		26.7	%		25.1	%		24.0	%		23.1	%		22.6	%		22.2	%
Depreciation and residual losses at termination		22.7	%		21.2	%		20.3	%		19.1	%		18.3	%		17.4	%		16.9	%		16.7	%

Net rental income includes the lease payments earned on the vehicles that Huntington leases to its customers under operating leases. Fees include late fees, early payment fees and other non-origination fees. Recoveries represent payments received on a cash basis subsequent to a customer’s default on an operating lease and a recognition of an impairment loss on the lease. Depreciation represents the periodic depreciation of vehicles to their residual value owned by Huntington under operating leases and any accelerated depreciation where Huntington expects to receive less than the residual value from the sale of the vehicle and from insurance proceeds at the end of the lease term. Losses represent impairments recognized on vehicles where the lessee has defaulted on the operating lease.

⁽¹⁾ As a percent of average operating lease assets, quarterly and year-to-date amounts annualized.


	Average Balance
Fully Tax Equivalent Basis⁽¹⁾	2003		2002		2001		2000		1999
Assets
Interest bearing deposits in banks	$	37	$	33	$	7	$	6	$	9
Trading account securities		14		7		25		15		13
Federal funds sold and securities purchased under resale agreements		87		72		107		87		22
Mortgages held for sale		564		322		360		109		232
Securities:
Taxable		3,533		2,859		3,144		4,316		4,885
Tax exempt		334		135		174		273		297

Total Securities		3,867		2,994		3,318		4,589		5,182

Loans and Leases:
Commercial		5,502		5,679		6,650		6,450		6,133
Real Estate
Construction		1,246		1,216		1,221		1,184		999
Commercial		2,691		2,378		2,340		2,186		2,234
Consumer
Automobile loans		3,260		2,744	NM		NM		NM
Automobile leases		1,423		452	NM		NM		NM

Automobile loans and leases		4,683		3,196		2,839		3,123		3,535

Home equity		3,446		3,085		3,398		2,990		2,345
Residential mortgage		2,076		1,438		1,048		1,379		1,488
Other loans		380		425		590		530		1,102

Total Consumer		10,585		8,144		7,875		8,022		8,470

Total Loans and Leases		20,024		17,417		18,086		17,842		17,836

Allowance for loan losses		358		374		307		274		280

Net Loans and Leases		19,666		17,043		17,779		17,568		17,556

Total earning assets		24,593		20,845		21,903		22,648		23,294

Operating lease inventory		1,697		2,602		2,970		2,751		2,179
Cash and due from banks		774		757		912		1,008		1,039
Intangible assets		218		293		736		709		682
All other assets		2,020		1,910		1,891		1,729		1,707

Total Assets	$	28,944	$	26,033	$	28,105	$	28,571	$	28,621


Liabilities and Shareholders’ Equity
Core deposits
Non-interest bearing deposits	$	3,080	$	2,902	$	3,304	$	3,421	$	3,497
Interest bearing demand deposits		6,193		5,161		5,005		4,291		4,097
Savings deposits		2,802		2,853		3,478		3,563		3,740
Retail certificates of deposit		2,702		3,619		4,980		4,930		4,791
Other domestic time deposits		660		730		903		942		1,032

Total core deposits		15,437		15,265		17,670		17,147		17,157

Domestic time deposits of $100,000 or more		802		851		1,280		1,502		1,449
Brokered time deposits and negotiable CDs		1,419		731		128		502		238
Foreign time deposits		500		337		283		539		363

Total deposits		18,158		17,184		19,361		19,690		19,207

Short-term borrowings		1,600		1,856		2,099		1,966		2,549
Federal Home Loan Bank advances		1,258		279		19		13		5
Subordinated notes and other long-term debt, including preferred capital securities		4,559		3,335		3,411		4,005		4,120

Total interest bearing liabilities		22,495		19,752		21,586		22,253		22,384

All other liabilities		1,173		1,140		884		705		648
Shareholders’ equity		2,196		2,239		2,331		2,192		2,092

Total Liabilities and Shareholders’ Equity	$	28,944	$	26,033	$	28,105	$	28,571	$	28,621

⁽¹⁾ Fully tax equivalent yields are calculated assuming a 35% tax rate. See page 12 for the fully taxable equivalent adjustment.

Huntington Bancshares Incorporated
Consolidated Average Annual Balance Sheets and Net Interest Margin Analysis


	Average Rate⁽³⁾
Fully Tax Equivalent Basis⁽¹⁾	2003			2002			2001			2000			1999
Assets
Interest bearing deposits in banks		1.53	%		2.38	%		3.43	%		5.03	%		4.04	%
Trading account securities		4.02			4.11			5.13			7.11			5.89
Federal funds sold and securities purchased under resale agreements		1.80			1.56			4.19			6.33			5.58
Mortgages held for sale		5.32			6.35			6.95			7.96			7.03
Securities:
Taxable		4.52			6.06			6.58			6.24			6.08
Tax exempt		7.04			7.42			7.49			7.61			7.90

Total Securities		4.73			6.12			6.63			6.33			6.18

Loans and Leases:⁽²⁾
Commercial		5.08			5.62			7.22			8.65			7.92
Real Estate
Construction		4.14			4.70			7.08			8.96			8.45
Commercial		5.23			6.20			7.58			8.42			8.15
Consumer
Automobile loans		7.38			8.67		NM			NM			NM
Automobile leases		5.09			5.14		NM			NM			NM

Automobile loans and leases		6.68			8.17			8.94			8.67			8.24

Home equity		5.06			5.96			8.23			8.52			8.40
Residential mortgage		5.50			6.36			7.79			7.77			7.51
Other loans		7.10			7.59			8.41			10.35			10.30

Total Consumer		5.93			6.98			8.44			8.57			8.42

Total Loans and Leases		5.49			6.27			7.79			8.61			8.22



Total earning assets		5.35	%		6.23	%		7.58	%		8.13	%		7.75	%


Liabilities and Shareholders’ Equity
Core deposits
Non-interest bearing deposits Interest bearing demand deposits		1.18	%		1.71	%		2.64	%		3.30	%		2.56	%
Savings deposits		1.49			1.77			3.07			4.09			3.36
Retail certificates of deposit		3.68			4.58			5.65			5.72			5.10
Other domestic time deposits		3.86			4.05			5.34			5.52			5.20

Total core deposits		1.94			2.70			3.95			4.52			3.86

Domestic time deposits of $100,000 or more		2.50			3.39			5.22			6.01			5.28
Brokered time deposits and negotiable CDs		1.70			2.36			5.12			6.35			5.40
Foreign time deposits		0.92			1.47			3.82			6.31			5.14

Total deposits		1.91			2.69			4.06			4.77			4.05

Short-term borrowings		0.98			1.56			4.57			5.75			4.48
Federal Home Loan Bank advances		1.94			2.00			6.17			6.32			5.19
Subordinated notes and other long-term debt, including preferred capital securities		2.82			3.70			5.52			6.74			5.59

Total interest bearing liabilities		2.03	%		2.75	%		4.34	%		5.22	%		4.38	%


Net interest rate spread		3.32	%		3.48	%		3.24	%		2.91	%		3.37	%
Impact of non-interest bearing funds on margin		0.17	%		0.14	%		0.05	%		0.09	%		0.16	%

Net Interest Margin		3.49	%		3.62	%		3.29	%		3.00	%		3.53	%


(in thousands of dollars, except per share amounts)	2003			2002			2001			2000			1999
Net Interest Income	$	848,986		$	749,574		$	715,288		$	670,110		$	812,844
Provision for loan and lease losses		163,993			194,426			257,326			61,464			70,335

Net Interest Income After Provision for Loan and Lease Losses		684,993			555,148			457,962			608,646			742,509

Operating lease income		489,698			657,074			691,733			623,835			489,971
Service charges on deposit accounts		167,840			153,564			165,012			161,426			156,783
Trust services		61,649			62,051			60,298			53,613			52,030
Brokerage and insurance income		57,844			62,109			75,013			60,530			51,239
Mortgage banking		58,180			32,033			54,518			32,772			52,960
Bank Owned Life Insurance income		43,028			43,123			41,123			39,544			37,560
Other service charges and fees		41,446			42,888			48,217			43,883			37,301
Gain on sales of automobile loans		40,039			—			—			—			—
Gain on sale of branch offices		13,112			—			—			—			—
Securities gains		5,258			4,902			723			37,101			12,972
Gain on sale of Florida Operations		—			182,470			—			—			—
Merchant Services gain		—			24,550			—			—			—
Gains on sale of credit card portfolio		—			—			—			—			108,530
Other		91,059			76,940			63,305			70,498			55,512

Total Non-Interest Income		1,069,153			1,341,704			1,199,942			1,123,202			1,054,858

Personnel costs		447,263			418,037			454,210			396,230			396,380
Operating lease expense		393,270			518,970			558,626			494,800			346,027
Outside data processing and other services		66,118			67,368			69,692			62,011			62,886
Equipment		65,921			68,323			80,560			78,069			66,666
Net occupancy		62,481			59,539			76,449			75,197			71,939
Professional services		42,448			33,085			32,862			22,721			21,169
Marketing		27,490			27,911			31,057			34,884			32,506
Telecommunications		21,979			22,661			27,984			26,225			28,519
Loss on early extinguishment of debt		15,250			—			—			—			—
Printing and supplies		13,009			15,198			18,367			19,634			20,227
Amortization of intangibles		816			2,019			41,225			39,207			37,296
Restrucuturing (releases) charges		(6,666	)		48,973			79,957			—			46,791
Other		80,780			92,063			91,438			34,153			64,373

Total Non-Interest Expense		1,230,159			1,374,147			1,562,427			1,283,131			1,194,779

Income Before Income Taxes		523,987			522,705			95,477			448,717			602,588
Income taxes		138,294			198,974			(39,319	)⁽²⁾		126,299			188,433

Income before cumulative effect of change in accounting principle		385,693			323,731			134,796			322,418			414,155
Cumulative effect of change in accounting principle, net of tax⁽¹⁾		(13,330	)		—			—			—			—

Net Income	$	372,363		$	323,731		$	134,796		$	322,418		$	414,155


Per Common Share
Income before cumulative effect of change in accounting principle — Diluted	$	1.67		$	1.33		$	0.54		$	1.29		$	1.62
Net Income — Diluted	$	1.61		$	1.33		$	0.54		$	1.29		$	1.62
Cash Dividends Declared	$	0.67		$	0.64		$	0.72		$	0.76		$	0.68

Return on:
Average total assets⁽³⁾		1.33	%		1.24	%		0.48	%		1.13	%		1.45	%
Average total shareholders’ equity⁽³⁾		17.6	%		14.5	%		5.8	%		14.7	%		19.8	%
Net interest margin⁽⁴⁾		3.49	%		3.62	%		3.29	%		3.00	%		3.53	%
Efficiency ratio⁽⁵⁾		63.9	%		65.6	%		79.2	%		70.5	%		62.1	%
Effective tax rate		26.4	%		38.1	%		-41.2	%⁽²⁾		28.1	%		31.3	%

Revenue — Fully Taxable Equivalent (FTE)
Net Interest Income	$	848,986		$	749,574		$	715,288		$	670,110		$	812,844
Tax Equivalent Adjustment⁽⁴⁾		9,684			5,205			6,352			8,310			9,423

Net Interest Income		858,670			754,779			721,640			678,420			822,267
Non-Interest Income		1,069,153			1,341,704			1,199,942			1,123,202			1,054,858

Total Revenue	$	1,927,823		$	2,096,483		$	1,921,582 $			1,801,622		$	1,877,125


Total Revenue Excluding Securities Gains	$	1,922,565		$	2,091,581		$	1,920,859		$	1,764,521		$	1,864,153

Huntington Bancshares Incorporated
Annual Loan and Lease Loss Reserves and Asset Quality


(in thousands)	2003			2002			2000			2001			1999
Allowance for Loan and Lease Losses, Beginning of Year	$	336,648		$	369,332		$	264,929		$	273,931		$	273,125

Loan and lease losses		(201,534	)		(234,352	)		(174,540	)		(85,825	)		(99,082	)
Recoveries of loans previously charged off		39,725			37,440			28,271			24,178			29,553

Net Loan and Lease Losses		(161,809	)		(196,912	)		(146,269	)		(61,647	)		(69,529	)

Provision for loan and lease losses		163,993			194,426			257,326			61,464			70,335
Allowance of assets (sold)/purchased		(12,537	)		(21,033	)		—			7,900			—
Allowance of securitized loans⁽¹⁾		8,959			(9,165	)		(6,654	)		(16,719	)		—

Allowance for Loan and Lease Losses, End of Year	$	335,254		$	336,648		$	369,332		$	264,929		$	273,931


Allowance for loan and lease losses as a % of total loans and leases		1.59	%		1.81	%		2.00	%		1.50	%		1.52	%
Allowance for loan and lease losses as a % of non- performing loans and leases		444	%		263	%		167	%		282	%		330	%
Allowance for loan and lease losses as a % of non- performing assets		384	%		246	%		162	%		251	%		279	%

Net Charge-offs by Loan and Lease Type

Commercial	$	84,858		$	117,762		$	59,568		$	13,812		$	10,900
Commercial real estate		10,517			17,641			3,729			1,327			1,585

Total commercial and commercial real estate		95,375			135,403			63,297			15,139			12,485


Consumer
Automobile leases and loans		45,994			40,546			55,071			32,280			28,582
Home equity		14,604			13,506			14,588			6,909			6,096
Residential mortgage		832			872			785			1,007			1,136
Other loans		5,004			6,585			12,528			6,312			21,230

Total consumer		66,434			61,509			82,972			46,508			57,044


Total Net Charge-offs	$	161,809		$	196,912		$	146,269		$	61,647		$	69,529


Net Charge-offs as a Percentage of Average Loans and Leases

Commercial		1.54	%		2.07	%		0.90	%		0.21	%		0.18	%
Commercial real estate		0.27			0.49			0.10			0.04			0.05

Total commercial and commercial real estate		1.01			1.46			0.62			0.15			0.13


Consumer
Automobile loans and leases		0.98			1.27			1.94			1.03			0.81
Home equity		0.42			0.44			0.43			0.23			0.26
Residential mortgage		0.04			0.06			0.07			0.07			0.08
Other loans		1.32			1.55			2.12			1.19			1.93

Total consumer		0.63			0.76			1.05			0.58			0.67


Net Charge-offs as a % of Average Loans and Leases		0.81	%		1.13	%		0.81	%		0.35	%		0.39	%

Huntington Bancshares Incorporated
Annual Non-Performing Assets and Past Due Loans and Leases


(in thousands)	2003			2002			2001			2000			1999
Non-accrual loans and leases:
Commercial	$	43,387		$	91,861		$	159,637		$	55,804		$	42,958
Commercial real estate		22,399			26,765			48,360			26,702			26,916
Residential mortgage		9,695			9,443			11,836			10,174			11,866

Total Nonaccrual Loans and Leases		75,481			128,069			219,833			92,680			81,740
Renegotiated loans		—			—			1,276			1,304			1,330

Total Non-Performing Loans and Leases		75,481			128,069			221,109			93,984			83,070
Other real estate, net		11,905			8,654			6,384			11,413			15,171

Total Non-Performing Assets	$	87,386		$	136,723		$	227,493		$	105,397		$	98,241


Non-performing loans and leases as a % of total loans and leases		0.36	%		0.69	%		1.20	%		0.53	%		0.46	%
Non-performing assets as a % of total loans and leases and other real estate		0.41	%		0.74	%		1.23	%		0.60	%		0.55	%

Accruing loans and leases past due 90 days or more	$	55,913		$	61,526		$	76,013		$	66,665		$	54,567

Accruing loans and leases past due 90 days or more as a percent of total loans and leases		0.27	%		0.33	%		0.41	%		0.38	%		0.30	%


Reported Basis

Consolidated Balance Sheets			1

Loans and Leases and Deposits			2

Consolidated Average Balance Sheets			3

Consolidated Quarterly Net Interest Margin Analysis			4

Selected Quarterly Income Statement Data			5

Quarterly Loan Loss Reserve and Net Charge-Off Analysis			6

Quarterly Non-Performing Assets and Past Due Loans and Leases			7

Quarterly Stock Summary, Capital, and Other Data			8

Quarterly Operating Lease Performance			9

Consolidated Annual Average Balance Sheets and Net Interest Margin Analysis			10-11

Selected Annual Income Statement Data			12

Annual Loan Loss Reserve and Net Charge-Off Analysis			13

Annual Non-Performing Assets and Past Due Loans and Leases			14


⁽¹⁾		See Page 2 for detail of Loans and Deposits.
⁽²⁾		In accordance with FIN 46, capital securities issued by Huntington Capital I and II, previously regarded as consolidated subsidiary trusts, are no longer reflected in Huntington’s balance sheet. The related parent company debt to these entities is reported in Subordinated notes.

N.M. — Not Meaningful


	2003												2002
(in thousands)	Fourth			Third			Second			First			Fourth			Third			Second			First
Non-Performing Assets, Beginning of Period	$	137,077		$	133,722		$	140,725		$	136,723		$	214,129		$	223,237		$	225,530		$	227,493
New non-performing assets		38,367			52,213			83,104			48,359			65,506			47,275			73,002			74,446
Returns to accruing status		(454	)		(319	)		(9,866	)		(5,993	)		(12,658	)		(380	)		(337	)		(3,749	)
Loan and lease losses		(39,657	)		(22,090	)		(30,204	)		(17,954	)		(72,767	)		(25,480	)		(28,297	)		(26,072	)
Payments		(22,710	)		(18,905	)		(26,831	)		(15,440	)		(28,500	)		(26,308	)		(44,303	)		(37,663	)
Sales		(25,237	)		(7,544	)		(23,206	)		(4,970	)		(28,987	)		(4,215	)		(2,358	)		(8,925	)

Non-Performing Assets, End of Period	$	87,386		$	137,077		$	133,722		$	140,725		$	136,723		$	214,129		$	223,237		$	225,530


	2003												2002
(in millions)	Fourth⁽¹⁾			Third			Second			First			Fourth			Third			Second			First
Total Risk-Adjusted Assets	$	28,211		$	27,949		$	27,456		$	27,337		$	27,030		$	26,226		$	25,200		$	24,826
Tier 1 Risk-Based Capital Ratio		8.51	%		8.40	%		8.35	%		8.16	%		8.34	%		8.82	%		9.42	%		10.00	%
Total Risk-Based Capital Ratio		11.93	%		11.19	%		11.16	%		11.04	%		11.25	%		11.78	%		12.46	%		13.15	%
Tier 1 Leverage Ratio		7.99	%		7.94	%		8.25	%		8.22	%		8.51	%		9.06	%		9.60	%		9.45	%
Tangible Equity / Asset Ratio		6.80	%		6.78	%		7.07	%		7.01	%		7.22	%		7.64	%		8.16	%		8.77	%
Tangible Equity / Risk-Weighted Assets Ratio		7.30	%		7.24	%		7.23	%		7.09	%		7.29	%		7.71	%		8.15	%		8.65	%


(in thousands)	2003			2002			2001			2000			1999

Non-Performing Assets, Beginning of Period	$	136,723		$	227,493		$	105,397		$	98,241		$	96,099
New non-performing assets		222,043			260,229			329,882			112,319			106,014
Returns to accruing status		(16,632	)		(17,124	)		(2,767	)		(5,914	)		(5,744	)
Loan and lease losses		(109,905	)		(152,616	)		(67,491	)		(18,052	)		(17,515	)
Payments		(83,886	)		(136,774	)		(106,889	)		(67,431	)		(69,714	)
Sales		(60,957	)		(44,485	)		(30,639	)		(13,766	)		(10,899	)

Non-Performing Assets, End of Period	$	87,386		$	136,723		$	227,493		$	105,397		$	98,241


⁽¹⁾		Fully tax equivalent yields are calculated assuming a 35% tax rate. See page 5 for the fully taxable equivalent adjustment.
⁽²⁾		Individual loan and lease components include applicable fees.
⁽³⁾		Loan and lease and deposit average rates include impact of applicable derivatives.


⁽¹⁾		Due to the adoption of FASB Interpretation No. 46 for variable interest entities.
⁽²⁾		Based on income before cumulative effect of change in accounting principle, net of tax.
⁽³⁾		Calculated assuming a 35% tax rate.
⁽⁴⁾		Non-interest expense less amortization of intangible assets divided by the sum of fully taxable equivalent net interest income and non-interest income excluding securities gains (losses).


⁽¹⁾		Estimated.
⁽²⁾		Includes three Private Financial Group offices in Florida.


	2003								2002
	Fourth		Third		Second		First		Fourth		Third		Second		First
Number of employees (full-time equivalent)		7,983		7,906		7,986		8,134		8,177		8,117		8,174		8,342
Number of domestic full-service banking offices⁽²⁾		338		337		341		342		343		336		336		339