EX-99.2

Exhibit 99.2

HUNTINGTON BANCSHARES INCORPORATED
Quarterly Financial Review
March 2005

Table of Contents


Consolidated Balance Sheets			1

Credit Exposure Composition			2

Deposit Composition			3

Consolidated Quarterly Average Balance Sheets			4

Consolidated Quarterly Net Interest Margin Analysis			5

Selected Quarterly Income Statement Data			6

Quarterly Credit Reserves			7

Quarterly Net Charge-Off Analysis			8

Quarterly Non-Performing Assets and Past Due Loans and Leases			9

Quarterly Stock Summary, Capital, and Other Data			10

Quarterly Operating Lease Performance			11

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.

Huntington Bancshares Incorporated
Consolidated Balance Sheets


											Change March '05 vs '04
2005					2004						Change March '05 vs '04
(in thousands of dollars, except per share amounts)	March 31,				December 31,			March 31,			Amount			Percent
		*(Unaudited)*						(Unaudited)
Assets
Cash and due from banks		$	914,699		$	877,320		$	766,432		$	148,267			19.3	%
Federal funds sold and securities purchased under resale agreements			144,980			628,040			224,841			(79,861	)		(35.5	)
Interest bearing deposits in banks			29,551			22,398			54,027			(24,476	)		(45.3	)
Trading account securities			100,135			309,630			16,410			83,725			N.M.
Loans held for sale			252,932			223,469			230,417			22,515			9.8
Investment securities			4,052,875			4,238,945			5,458,347			(1,405,472	)		(25.7	)
Loans and leases ⁽¹⁾			24,206,465			23,560,277			21,193,627			3,012,838			14.2
Allowance for loan and lease losses			(264,390	)		(271,211	)		(295,377	)		30,987			(10.5	)

Net loans and leases			23,942,075			23,289,066			20,898,250			3,043,825			14.6

Operating lease assets			466,550			587,310			1,070,958			(604,408	)		(56.4	)
Bank owned life insurance			973,164			963,059			938,156			35,008			3.7
Premises and equipment			354,979			355,115			351,073			3,906			1.1
Goodwill and other intangible assets			217,780			215,807			216,805			975			0.4
Customers’ acceptance liability			7,194			11,299			7,909			(715	)		(9.0	)
Accrued income and other assets			725,685			844,039			805,455			(79,770	)		(9.9	)

Total Assets		$	32,182,599		$	32,565,497		$	31,039,080		$	1,143,519			3.7	%


Liabilities and Shareholders’ Equity
Liabilities
Deposits ⁽²⁾		$	21,770,973		$	20,768,161		$	18,988,846		$	2,782,127			14.7	%
Short-term borrowings			1,033,496			1,207,233			1,076,302			(42,806	)		(4.0	)
Federal Home Loan Bank advances			903,871			1,271,088			1,273,000			(369,129	)		(29.0	)
Other long-term debt			3,138,626			4,016,004			4,478,599			(1,339,973	)		(29.9	)
Subordinated notes			1,025,612			1,039,793			1,066,705			(41,093	)		(3.9	)
Allowance for unfunded loan commitments and letters of credit			31,610			33,187			32,089			(479	)		(1.5	)
Bank acceptances outstanding			7,194			11,299			7,909			(715	)		(9.0	)
Deferred federal income tax liability			781,152			783,628			687,820			93,332			13.6
Accrued expenses and other liabilities			900,292			897,466			1,063,631			(163,339	)		(15.4	)

Total Liabilities			29,592,826			30,027,859			28,674,901			917,925			3.2

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 232,002,213; 231,605,281 and 229,410,043 shares, respectively.			2,484,832			2,484,204			2,482,342			2,490			0.1
Less 25,864,042; 26,260,974 and 28,456,212 treasury shares, respectively			(490,139	)		(499,259	)		(541,048	)		50,909			(9.4	)
Accumulated other comprehensive income (loss)			(18,686	)		(10,903	)		21,490			(40,176	)		N.M.
Retained earnings			613,766			563,596			401,395			212,371			52.9

Total Shareholders’ Equity			2,589,773			2,537,638			2,364,179			225,594			9.5

Total Liabilities and Shareholders’ Equity		$	32,182,599		$	32,565,497		$	31,039,080		$	1,143,519			3.7	%

N.M., not a meaningful value.
⁽¹⁾ See Page 2 for detail of Loans and Leases.
⁽²⁾ See Page 3 for detail of Deposits.

Huntington Bancshares Incorporated
Credit Exposure Composition


													Change
2005					2004								March '05 vs '04
(in thousands of dollars)	March 31,				December 31,				March 31,				Amount			Percent
	*(Unaudited)*								(Unaudited)
By Type
Commercial:
Middle market commercial and industrial	$	4,824,403	19.6	%	$	4,660,141	19.3	%	$	4,545,930	20.4	%	$	278,473			6.1	%
Construction		1,647,999	6.7			1,592,125	6.6			1,282,420	5.8			365,579			28.5
Commercial		1,913,849	7.8			1,881,835	7.8			1,934,777	8.7			(20,928	)		(1.1	)

Middle market commercial real estate		3,561,848	14.5			3,473,960	14.4			3,217,197	14.5			344,651			10.7

Small business commercial and industrial and commercial real estate		2,204,278	8.9			2,168,877	8.9			1,988,818	8.9			215,460			10.8

Total commercial		10,590,529	43.0			10,302,978	42.6			9,751,945	43.8			838,584			8.6

Consumer:
Automobile loans		2,066,264	8.4			1,948,667	8.1			2,267,310	10.2			(201,046	)		(8.9	)
Automobile leases		2,476,098	10.0			2,443,455	10.1			2,065,883	9.3			410,215			19.9
Home equity		4,594,586	18.6			4,554,540	18.9			3,920,882	17.6			673,704			17.2
Residential mortgage		3,995,769	16.2			3,829,234	15.9			2,756,625	12.4			1,239,144			45.0
Other loans		483,219	1.9			481,403	2.0			430,982	1.8			52,237			12.1

Total consumer		13,615,936	55.1			13,257,299	55.0			11,441,682	51.3			2,174,254			19.0

Total loans and direct financing leases	$	24,206,465	98.1		$	23,560,277	97.6		$	21,193,627	95.1		$	3,012,838			14.2


Operating lease assets		466,550	1.9			587,310	2.4			1,070,958	4.8			(604,408	)		(56.4	)
Securitized loans		—	—			—	—			27,573	0.1			(27,573	)		N.M.

Total credit exposure	$	24,673,015	100.0	%	$	24,147,587	100.0	%	$	22,292,158	100.0	%	$	2,380,857			10.7	%

Total automobile exposure ⁽¹⁾	$	5,008,912	20.3	%	$	4,979,432	20.6	%	$	5,431,724	24.4	%	$	(422,812	)		(7.8)	%


By Business Segment ⁽²⁾
Regional banking:
Central Ohio	$	6,410,873	26.0	%	$	6,239,021	25.8	%	$	4,986,411	22.4	%	$	1,424,462			28.6	%
Northern Ohio		2,910,071	11.8			2,857,746	11.8			2,682,743	12.0			227,328			8.5
Southern Ohio / Kentucky		2,023,243	8.2			1,895,180	7.8			1,703,006	7.6			320,237			18.8
West Michigan		2,335,578	9.5			2,271,682	9.4			2,154,994	9.7			180,584			8.4
East Michigan		1,475,868	6.0			1,430,169	5.9			1,340,679	6.0			135,189			10.1
West Virginia		887,239	3.6			882,016	3.7			809,714	3.6			77,525			9.6
Indiana		997,052	4.0			961,700	4.0			752,850	3.4			244,202			32.4

Regional banking		17,039,924	69.1			16,537,514	68.4			14,430,397	64.7			2,609,527			18.1
Dealer Sales		5,955,634	24.1			5,920,270	24.5			6,396,727	28.7			(441,093	)		(6.9	)
Private Financial Group		1,496,408	6.1			1,487,800	6.2			1,322,259	5.9			174,149			13.2
Treasury / Other		181,049	0.7			202,003	0.9			142,775	0.7			38,274			26.8

Total credit exposure	$	24,673,015	100.0	%	$	24,147,587	100.0	%	$	22,292,158	100.0	%	$	2,380,857			10.7	%

⁽¹⁾ Sum of automobile loans and leases, operating lease assets, and securitized loans.

⁽²⁾ Prior period amounts have been reclassified to conform to the current period business segment structure.

Huntington Bancshares Incorporated
Deposit Composition


													Change
2005					2004								March '05 vs '04
(in thousands of dollars)	March 31,				December 31,				March 31,				Amount			Percent
	*(Unaudited)*								(Unaudited)

By Type
Non-interest bearing demand deposits	$	3,186,187	14.6	%	$	3,392,123	16.3	%	$	2,918,380	15.4	%	$	267,807			9.2	%
Interest bearing demand deposits		7,848,458	36.1			7,786,377	37.5			6,866,174	36.2			982,284			14.3
Savings and other domestic time deposits		3,460,633	15.9			3,502,552	16.9			3,609,745	19.0			(149,112	)		(4.1	)
Retail certificates of deposit		2,555,241	11.7			2,466,965	11.9			2,394,940	12.6			160,301			6.7


Total core deposits		17,050,519	78.3			17,148,017	82.6			15,789,239	83.2			1,261,280			8.0
Domestic time deposits of $100,000 or more		1,311,495	6.0			1,081,660	5.2			791,320	4.2			520,175			65.7
Brokered time deposits and negotiable CDs		3,007,124	13.8			2,097,537	10.1			1,941,963	10.2			1,065,161			54.8
Foreign time deposits		401,835	1.9			440,947	2.1			466,324	2.4			(64,489	)		(13.8	)

Total deposits	$	21,770,973	100.0	%	$	20,768,161	100.0	%	$	18,988,846	100.0	%	$	2,782,127			14.7	%


Total core deposits:
Commercial	$	5,218,482	30.6	%	$	5,293,666	30.9	%	$	4,611,258	29.2	%	$	607,224			13.2	%
Personal		11,832,037	69.4			11,854,351	69.1			11,177,981	70.8			654,056			5.9

Total core deposits	$	17,050,519	100.0	%	$	17,148,017	100.0	%	$	15,789,239	100.0	%	$	1,261,280			8.0	%


By Business Segment ⁽¹⁾
Regional banking:
Central Ohio	$	4,748,903	21.8	%	$	4,705,721	22.7	%	$	4,389,011	23.1	%	$	359,892			8.2	%
Northern Ohio		3,929,993	18.1			4,068,385	19.6			3,508,376	18.5			421,617			12.0
Southern Ohio / Kentucky		1,774,229	8.1			1,742,353	8.4			1,475,506	7.8			298,723			20.2
West Michigan		2,685,054	12.3			2,643,510	12.7			2,608,967	13.7			76,087			2.9
East Michigan		2,298,679	10.6			2,222,191	10.7			2,025,914	10.7			272,765			13.5
West Virginia		1,368,763	6.3			1,375,151	6.6			1,291,913	6.8			76,850			5.9
Indiana		717,877	3.3			663,927	3.2			637,090	3.4			80,787			12.7

Regional banking		17,523,498	80.5			17,421,238	83.9			15,936,777	84.0			1,586,721			10.0
Dealer Sales		69,046	0.3			74,969	0.4			76,031	0.4			(6,985	)		(9.2	)
Private Financial Group		1,139,139	5.2			1,176,303	5.7			1,060,639	5.6			78,500			7.4
Treasury / Other⁽²⁾		3,039,290	14.0			2,095,651	10.0			1,915,399	10.0			1,123,891			58.7


Total deposits	$	21,770,973	100.0	%	$	20,768,161	100.0	%	$	18,988,846	100.0	%	$	2,782,127			14.7	%

⁽¹⁾ Prior period amounts have been reclassified to conform to the current period business segment structure.
⁽²⁾ Comprised largely of brokered deposits and negotiable CDs.

Huntington Bancshares Incorporated
Consolidated Quarterly Average Balance Sheets
(Unaudited)


	Average Balances															Change
Fully Taxable Equivalent basis	2005			2004												1Q05 vs 1Q04
(in millions of dollars)	First			Fourth			Third			Second			First			Amount			Percent

Assets
Interest bearing deposits in banks	$	53		$	60		$	55		$	69		$	79		$	(26	)		(32.9	)%
Trading account securities		200			228			148			28			16			184			N.M.
Federal funds sold and securities purchased under resale agreements		475			695			318			168			92			383			N.M.
Loans held for sale		203			229			283			254			207			(4	)		(1.9	)
Investment securities:
Taxable		3,932			3,858			4,340			4,861			4,646			(714	)		(15.4	)
Tax-exempt		409			404			398			410			437			(28	)		(6.4	)

Total investment securities		4,341			4,262			4,738			5,271			5,083			(742	)		(14.6	)
Loans and leases:
Commercial:
Middle market commercial and industrial		4,710			4,503			4,298			4,555			4,440			270			6.1
Construction		1,642			1,577			1,514			1,272			1,276			366			28.7
Commercial		1,883			1,852			1,913			1,919			1,873			10			0.5

Middle market commercial real estate		3,525			3,429			3,427			3,191			3,149			376			11.9
Small business commercial and industrial and commercial real estate		2,183			2,136			2,081			2,018			1,974			209			10.6

Total commercial		10,418			10,068			9,806			9,764			9,563			855			8.9

Consumer:
Automobile loans		2,008			1,913			1,857			2,337			3,041			(1,033	)		(34.0	)
Automobile leases		2,461			2,388			2,250			2,139			1,988			473			23.8

Automobile loans and leases		4,469			4,301			4,107			4,476			5,029			(560	)		(11.1	)
Home equity		4,570			4,489			4,337			4,107			3,810			760			19.9
Residential mortgage		3,919			3,695			3,484			2,986			2,674			1,245			46.6
Other loans		480			479			461			434			426			54			12.7

Total consumer		13,438			12,964			12,389			12,003			11,939			1,499			12.6

Total loans and leases		23,856			23,032			22,195			21,767			21,502			2,354			10.9
Allowance for loan and lease losses		(282	)		(283	)		(288	)		(310	)		(313	)		31			9.9

Net loans and leases		23,574			22,749			21,907			21,457			21,189			2,385			11.3

Total earning assets		29,128			28,506			27,737			27,557			26,979			2,149			8.0

Operating lease assets		529			648			800			977			1,166			(637	)		(54.6	)
Cash and due from banks		909			880			928			772			740			169			22.8
Intangible assets		218			216			216			216			217			1			0.5
All other assets		2,079			2,094			2,066			2,101			2,046			33			1.6

Total Assets	$	32,581		$	32,061		$	31,459		$	31,313		$	30,835		$	1,746			5.7	%


Liabilities and Shareholders’ Equity
Deposits:
Non-interest bearing demand deposits	$	3,314		$	3,401		$	3,276		$	3,223		$	3,017		$	297			9.8	%
Interest bearing demand deposits		7,925			7,658			7,384			7,168			6,609			1,316			19.9
Savings and other domestic time deposits		3,309			3,395			3,436			3,439			3,456			(147	)		(4.3	)
Retail certificates of deposit		2,496			2,454			2,414			2,400			2,399			97			4.0

Total core deposits		17,044			16,908			16,510			16,230			15,481			1,563			10.1
Domestic time deposits of $100,000 or more		1,249			990			886			795			788			461			58.5
Brokered time deposits and negotiable CDs		2,728			1,948			1,755			1,737			1,907			821			43.1
Foreign time deposits		442			465			476			542			549			(107	)		(19.5	)

Total deposits		21,463			20,311			19,627			19,304			18,725			2,738			14.6
Short-term borrowings		1,179			1,302			1,342			1,396			1,603			(424	)		(26.5	)
Federal Home Loan Bank advances		1,196			1,270			1,270			1,270			1,273			(77	)		(6.0	)
Subordinated notes and other long-term debt		4,517			5,099			5,244			5,623			5,557			(1,040	)		(18.7	)

Total interest bearing liabilities		25,041			24,581			24,207			24,370			24,141			900			3.7

All other liabilities		1,699			1,598			1,564			1,397			1,399			300			21.4
Shareholders’ equity		2,527			2,481			2,412			2,323			2,278			249			10.9

Total Liabilities and Shareholders’ Equity	$	32,581		$	32,061		$	31,459		$	31,313		$	30,835		$	1,746			5.7	%

N.M., not a meaningful value.

Huntington Bancshares Incorporated
Consolidated Quarterly Net Interest Margin Analysis
(Unaudited)


	Average Rates⁽²⁾
2005				2004
Fully Taxable Equivalent basis ⁽¹⁾	First			Fourth			Third			Second			First

Assets
Interest bearing deposits in banks		1.88	%		1.61	%		0.91	%		1.05	%		0.71	%
Trading account securities		4.14			4.15			4.44			3.02			3.98
Federal funds sold and securities purchased under resale agreements		2.36			1.99			1.53			1.21			1.41
Loans held for sale		5.55			5.69			5.25			5.17			5.33
Investment securities:
Taxable		3.87			3.77			3.83			3.83			4.06
Tax-exempt		6.73			6.89			7.06			7.07			6.88

Total investment securities		4.14			4.07			4.10			4.09			4.30
Loans and leases:
Commercial:
Middle market commercial and industrial		5.02			4.80			4.46			4.05			4.33
Construction		5.13			4.65			4.13			3.73			3.68
Commercial		5.15			4.80			4.45			4.20			4.31

Middle market commercial real estate		5.14			4.73			4.31			4.02			4.05
Small business commercial and industrial and commercial real estate		5.81			5.67			5.45			5.33			5.46

Total commercial		5.23			4.96			4.62			4.30			4.47

Consumer:
Automobile loans		6.83			7.31			7.65			7.20			6.93
Automobile leases		4.92			5.00			5.02			5.06			4.94

Automobile loans and leases		5.78			6.02			6.21			6.17			6.14
Home equity		5.60			5.30			4.84			4.75			4.69
Residential mortgage		5.55			5.53			5.48			5.40			5.51
Other loans		6.42			6.87			6.54			6.21			5.83

Total consumer		5.67			5.66			5.54			5.49			5.52

Total loans and leases		5.48			5.34			5.12			4.95			5.04

Total earning assets		5.21	%		5.05	%		4.89	%		4.76	%		4.89	%


Liabilities and Shareholders’ Equity
Deposits:
Non-interest bearing demand deposits		—	%		—	%		—	%		—	%		—	%
Interest bearing demand deposits		1.45			1.21			1.06			0.94			0.88
Savings and other domestic time deposits		1.27			1.26			1.24			1.23			1.41
Retail certificates of deposit		3.43			3.38			3.32			3.27			3.47

Total core deposits		1.76			1.62			1.52			1.45			1.53
Domestic time deposits of $100,000 or more		2.92			2.51			2.40			2.37			2.14
Brokered time deposits and negotiable CDs		2.80			2.26			1.84			1.57			1.51
Foreign time deposits		1.41			0.98			0.83			0.76			0.72

Total deposits		1.99			1.73			1.58			1.48			1.53
Short-term borrowings		1.66			1.17			0.92			0.80			0.83
Federal Home Loan Bank advances		2.90			2.68			2.60			2.52			2.50
Subordinated notes and other long-term debt		3.39			2.67			2.62			2.24			2.33

Total interest bearing liabilities		2.27	%		1.94	%		1.82	%		1.66	%		1.71	%


Net interest rate spread		2.94	%		3.11	%		3.07	%		3.10	%		3.18	%
Impact of non-interest bearing funds on margin		0.37			0.27			0.23			0.19			0.18

Net interest margin		3.31	%		3.38	%		3.30	%		3.29	%		3.36	%

⁽¹⁾Fully taxable equivalent (FTE) yields are calculated assuming a 35% tax rate. See page 6 for the FTE adjustment.
⁽²⁾Loan, lease, and deposit average rates include impact of applicable derivatives and non-deferrable fees.

Huntington Bancshares Incorporated
Selected Quarterly Income Statement Data
(Unaudited)


2005				2004												1Q05 vs 1Q04
(in thousands of dollars, except per share amounts)	First			Fourth			Third			Second			First			Amount			Percent

Interest income	$	376,105		$	359,215		$	338,002		$	324,167		$	325,931		$	50,174			15.4	%
Interest expense		140,907			120,147			110,944			101,604			103,246			37,661			36.5

Net interest income		235,198			239,068			227,058			222,563			222,685			12,513			5.6
Provision for credit losses		19,874			12,654			11,785			5,027			25,596			(5,722	)		(22.4	)

Net interest income after provision for credit losses		215,324			226,414			215,273			217,536			197,089			18,235			9.3

Operating lease income		46,732			55,106			64,412			78,706			88,867			(42,135	)		(47.4	)
Service charges on deposit accounts		39,418			41,747			43,935			43,596			41,837			(2,419	)		(5.8	)
Trust services		18,196			17,315			17,064			16,708			16,323			1,873			11.5
Brokerage and insurance income		13,026			12,879			13,200			13,523			15,197			(2,171	)		(14.3	)
Bank owned life insurance income		10,104			10,484			10,019			11,309			10,485			(381	)		(3.6	)
Other service charges and fees		10,159			10,617			10,799			10,645			9,513			646			6.8
Mortgage banking		12,061			8,822			4,448			23,322			(4,296	)		16,357			N.M.
Securities gains (losses)		957			2,100			7,803			(9,230	)		15,090			(14,133	)		(93.7	)
Gain on sales of automobile loans		—			—			312			4,890			9,004			(9,004	)		N.M.
Other income		17,397			23,870			17,899			24,659			25,619			(8,222	)		(32.1	)

Total non-interest income		168,050			182,940			189,891			218,128			227,639			(59,589	)		(26.2	)

Personnel costs		123,981			122,738			121,729			119,715			121,624			2,357			1.9
Operating lease expense		37,948			48,320			54,885			62,563			70,710			(32,762	)		(46.3	)
Net occupancy		19,242			26,082			16,838			16,258			16,763			2,479			14.8
Outside data processing and other services		18,770			18,563			17,527			17,563			18,462			308			1.7
Equipment		15,863			15,733			15,295			16,228			16,086			(223	)		(1.4	)
Professional services		9,459			9,522			12,219			7,836			7,299			2,160			29.6
Marketing		6,454			5,581			5,000			8,069			7,839			(1,385	)		(17.7	)
Telecommunications		4,882			4,596			5,359			4,638			5,194			(312	)		(6.0	)
Printing and supplies		3,094			3,148			3,201			3,098			3,016			78			2.6
Amortization of intangibles		204			205			204			204			204			—			—
Restructuring reserve releases		—			—			(1,151	)		—			—			—			—
Other expense		18,380			26,526			22,317			25,981			18,457			(77	)		(0.4	)

Total non-interest expense		258,277			281,014			273,423			282,153			285,654			(27,377	)		(9.6	)

Income before income taxes		125,097			128,340			131,741			153,511			139,074			(13,977	)		(10.1	)
Provision for income taxes		28,578			37,201			38,255			43,384			34,901			(6,323	)		(18.1	)

Net income	$	96,519		$	91,139		$	93,486		$	110,127		$	104,173		$	(7,654	)		(7.3)	%


Average common shares — diluted		235,053			235,502			234,348			232,659			232,915			2,138			0.9	%

Per common share
Net income — diluted	$	0.41		$	0.39		$	0.40		$	0.47		$	0.45		$	(0.04	)		(8.9	)
Cash dividends declared		0.200			0.200			0.200			0.175			0.175			0.025			14.3
Return on average total assets		1.20	%		1.13	%		1.18	%		1.41	%		1.36	%		(0.16)	%		(11.8	)
Return on average total shareholders’ equity		15.5			14.6			15.4			19.1			18.4			(2.9	)		(15.8	)
Net interest margin ⁽¹⁾		3.31			3.38			3.30			3.29			3.36			(0.05	)		(1.5	)
Efficiency ratio ⁽²⁾		63.7			66.4			66.3			62.3			65.1			(1.4	)		(2.2	)
Effective tax rate		22.8			29.0			29.0			28.3			25.1			(2.3	)		(9.2	)

Revenue — fully taxable equivalent (FTE)
Net interest income	$	235,198		$	239,068		$	227,058		$	222,563		$	222,685		$	12,513			5.6
FTE adjustment ⁽¹⁾		2,861			2,847			2,864			2,919			3,023			(162	)		(5.4	)

Net interest income		238,059			241,915			229,922			225,482			225,708			12,351			5.5
Non-interest income		168,050			182,940			189,891			218,128			227,639			(59,589	)		(26.2	)

Total revenue	$	406,109		$	424,855		$	419,813		$	443,610		$	453,347		$	(47,238	)		(10.4)	%

N.M., not a meaningful value.

⁽¹⁾ On a fully taxable equivalent (FTE) basis assuming a 35% tax rate.

⁽²⁾ Non-interest expense less amortization of intangibles divided by the sum of FTE net interest income and non-interest income excluding securities gains (losses).

Huntington Bancshares Incorporated
Quarterly Credit Reserves Analysis
(Unaudited)


2005				2004
(in thousands of dollars)	First			Fourth			Third			Second			First

Allowance for loan and leases losses, beginning of period	$	271,211		$	282,650		$	286,935		$	295,377		$	299,732

Loan and lease losses		(37,213	)		(31,737	)		(26,366	)		(30,845	)		(37,167	)
Recoveries of loans previously charged off		8,941			10,824			9,886			18,330			8,540

Net loan and lease losses		(28,272	)		(20,913	)		(16,480	)		(12,515	)		(28,627	)

Provision for loan and lease losses		21,451			9,474			12,971			5,923			29,029
Allowance of assets sold and securitized		—			—			(776	)		(1,850	)		(4,757	)

Allowance for loan and lease losses, end of period	$	264,390		$	271,211		$	282,650		$	286,935		$	295,377


Allowance for unfunded loan commitments and letters of credit, beginning of period	$	33,187		$	30,007		$	31,193		$	32,089		$	35,522

Provision for unfunded loan commitments and letters of credit losses		(1,577	)		3,180			(1,186	)		(896	)		(3,433	)

Allowance for unfunded loan commitments and letters of credit, end of period	$	31,610		$	33,187		$	30,007		$	31,193		$	32,089


Total allowances for credit losses	$	296,000		$	304,398		$	312,657		$	318,128		$	327,466


Allowance for loan and lease losses (ALLL) as % of:
Transaction reserve		0.81			0.78			0.84			0.86			0.91
Economic reserve		0.27			0.32			0.33			0.36			0.38
Specific reserve		0.01			0.05			0.08			0.10			0.10

Total loans and leases		1.09	%		1.15	%		1.25	%		1.32	%		1.39	%

Non-performing loans and leases (NPLs)		441			424			417			464			383
Non-performing assets (NPAs)		361			250			351			384			322

Total allowances for credit losses (ACL) as % of:
Total loans and leases		1.22	%		1.29	%		1.38	%		1.46	%		1.55	%
Non-performing loans and leases		494			476			461			515			425
Non-performing assets		404			280			389			426			357

Huntington Bancshares Incorporated
Quarterly Net Charge-Off Analysis
(Unaudited)


2005				2004

(in thousands of dollars)	First			Fourth			Third			Second			First


Net charge-offs by loan and lease type:
Commercial:
Middle market commercial and industrial	$	14,092		$	1,239		$	(102	)	$	(3,642	)	$	4,425
Construction		(51	)		704			(19	)		276			1,504
Commercial		(152	)		1,834			1,490			2,222			(40	)


Middle market commercial real estate		(203	)		2,538			1,471			2,498			1,464


Small business commercial and industrial and commercial real estate		2,283			1,386			1,195			1,281			1,704


Total commercial		16,172			5,163			2,564			137			7,593


Consumer:
Automobile loans		3,216			4,406			5,142			5,604			13,422
Automobile leases		3,014			3,104			2,415			2,159			3,159


Automobile loans and leases		6,230			7,510			7,557			7,763			16,581
Home equity		3,963			5,346			4,259			2,569			2,900
Residential mortgage		439			608			534			302			316
Other loans		1,468			2,286			1,566			1,744			1,237


Total consumer		12,100			15,750			13,916			12,378			21,034



Total net charge-offs	$	28,272		$	20,913		$	16,480		$	12,515		$	28,627



Net charge-offs — annualized percentages:
Commercial:
Middle market commercial and industrial		1.20	%		0.11	%		(0.01)	%		(0.32)	%		0.40	%
Construction		(0.01	)		0.18			(0.01	)		0.09			0.47
Commercial		(0.03	)		0.40			0.31			0.46			(0.01	)

Middle market commercial real estate		(0.02	)		0.30			0.17			0.31			0.19


Small business commercial and industrial and commercial real estate		0.42			0.26			0.23			0.25			0.35


Total commercial		0.62			0.21			0.10			0.01			0.32


Consumer:
Automobile loans		0.64			0.92			1.11			0.96			1.77
Automobile leases		0.49			0.52			0.43			0.40			0.64


Automobile loans and leases		0.56			0.70			0.74			0.69			1.32
Home equity		0.35			0.48			0.39			0.25			0.30
Residential mortgage		0.04			0.07			0.06			0.04			0.05
Other loans		1.22			1.91			1.36			1.62			1.17


Total consumer		0.36			0.49			0.45			0.41			0.70


Net charge-offs as a % of average loans		0.47	%		0.36	%		0.30	%		0.23	%		0.53	%

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


2005				2004

(in thousands of dollars)	March 31,			December 31,			September 30,			June 30,			March 31,


Non-accrual loans and leases:
Middle market commercial and industrial	$	16,993		$	24,179		$	20,098		$	24,336		$	36,854
Middle market commercial real estate		6,682			4,582			14,717			11,122			16,097
Small business commercial and industrial and commercial real estate		16,387			14,601			12,087			12,368			12,124
Residential mortgage		12,498			13,545			13,197			13,952			12,052
Home equity ⁽¹⁾		7,333			7,055			7,685			—			—


Total non-performing loans and leases		59,893			63,962			67,784			61,778			77,127
Other real estate, net:
Residential		10,571			8,762			8,840			8,851			9,132
Commercial⁽²⁾		2,839			35,844			3,852			4,067			5,435


Total other real estate, net		13,410			44,606			12,692			12,918			14,567


Total non-performing assets	$	73,303		$	108,568		$	80,476		$	74,696		$	91,694



Non-performing loans and leases as a % of total loans and leases		0.25	%		0.27	%		0.30	%		0.28	%		0.36	%

Non-performing assets as a % of total loans and leases and other real estate		0.30			0.46			0.36			0.34			0.43

Accruing loans and leases past due 90 days or more⁽¹⁾	$	50,086		$	54,283		$	53,456		$	51,490		$	59,697

Accruing loans and leases past due 90 days or more as a percent of total loans and leases		0.21	%		0.23	%		0.24	%		0.24	%		0.28	%


2005				2004

(in thousands of dollars)	March 31,			December 31,			September 30,			June 30,			March 31,


Non-performing assets, beginning of period	$	108,568		$	80,476		$	74,696		$	91,694		$	87,386
New non-performing assets ^{(1) (2)}		33,607			61,684			22,740			25,727			27,208
Returns to accruing status		(3,838	)		(2,248	)		—			(1,493	)		(54	)
Loan and lease losses		(17,281	)		(8,578	)		(5,424	)		(12,872	)		(10,463	)
Payments		(10,404	)		(8,829	)		(10,202	)		(13,571	)		(10,717	)
Sales		(37,349	)		(13,937	)		(1,334	)		(14,789	)		(1,666	)


Non-performing assets, end of period	$	73,303		$	108,568		$	80,476		$	74,696		$	91,694

⁽¹⁾ As of September 30, 2004, the Company adopted a policy, consistent with its policy for residential mortgage loans, of placing home equity loans and lines on nonaccrual status when they become greater than 180 days past due. In prior quarters, these balances were included in “Accruing loans and leases past due 90 days or more.”

⁽²⁾ At December 31, 2004, other real estate owned included $35.7 million of properties that relate to the work-out of $5.9 million of mezzanine loans. These properties were subject to $29.8 million of non-recourse debt to another financial institution. Both properties were sold in the first quarter of 2005.

Huntington Bancshares Incorporated
Quarterly Stock Summary, Capital, and Other Data
(Unaudited)

Quarterly common stock summary


2005			2004
(in thousands of dollars, except per share amounts)	First		Fourth		Third		Second		First

Common stock price, per share
High ⁽¹⁾	$	24.780	$	25.380	$	25.150	$	23.120	$	23.780
Low⁽¹⁾		22.150		23.110		22.700		20.890		21.000
Close		23.900		24.740		24.910		22.980		22.030
Average closing price		23.216		24.241		24.105		22.050		22.501

Dividends, per share
Cash dividends declared on common stock	$	0.200	$	0.200	$	0.200	$	0.175	$	0.175

Common shares outstanding
Average — basic		231,824		231,147		229,848		229,429		229,227
Average — diluted		235,053		235,502		234,348		232,659		232,915
Ending		232,002		231,605		230,153		229,476		229,410
Book value per share	$	11.16	$	10.96	$	10.69	$	10.40	$	10.31

Common share repurchase program
Number of shares repurchased		—		—		—		—		—

Capital adequacy


2005				2004
(in thousands of dollars)	March 31,			December 31,			September 30,			June 30,			March 31,

Total risk-adjusted assets⁽²⁾	$	29,947,075		$	29,542,401		$	28,679,142		$	28,415,519		$	28,247,258

Tier 1 leverage ratio⁽²⁾		8.48	%		8.42	%		8.36	%		8.20	%		8.07	%
Tier 1 risk-based capital ratio⁽²⁾		9.17			9.08			9.10			8.98			8.74
Total risk-based capital ratio⁽²⁾		12.50			12.48			12.53			12.56			12.13

Tangible equity / asset ratio		7.42			7.18			7.11			6.95			6.97
Tangible equity / risk-weighted assets ratio⁽²⁾		7.92			7.86			7.83			7.64			7.60
Average equity / average assets		7.76			7.74			7.67			7.42			7.39

Other data
Number of employees (full-time equivalent)		7,813			7,812			7,906			8,045			7,915
Number of domestic full-service banking offices⁽³⁾		343			342			341			341			337

⁽¹⁾ High and low stock prices are intra-day quotes obtained from NASDAQ.
⁽²⁾ First quarter 2005 figures are estimated.
⁽³⁾ Includes three Private Financial Group offices in Florida.

Huntington Bancshares Incorporated
Quarterly Operating Lease Performance
(Unaudited)


2005				2004												1Q05 vs 1Q04
(in thousands of dollars)	First			Fourth			Third			Second			First			Amount			Percent

Balance Sheet:
Average operating lease assets outstanding	$	529,245		$	647,970		$	800,145		$	976,626		$	1,166,146		$	(636,901	)		(54.6)	%


Income Statement:
Net rental income	$	43,554		$	51,016		$	60,267		$	72,402		$	83,517		$	(39,963	)		(47.9)	%
Fees		1,857			2,111			2,965			4,838			3,543			(1,686	)		(47.6	)
Recoveries — early terminations		1,321			1,979			1,180			1,466			1,807			(486	)		(26.9	)

Total operating lease income		46,732			55,106			64,412			78,706			88,867			(42,135	)		(47.4	)


Depreciation and residual losses at termination		34,703			45,293			49,917			57,412			63,823			(29,120	)		(45.6	)
Losses — early terminations		3,245			3,027			4,968			5,151			6,887			(3,642	)		(52.9	)

Total operating lease expense		37,948			48,320			54,885			62,563			70,710			(32,762	)		(46.3	)

Net earnings contribution	$	8,784		$	6,786		$	9,527		$	16,143		$	18,157		$	(9,373	)		(51.6)	%


Earnings ratios ⁽¹⁾
Net rental income		32.9	%		31.5	%		30.1	%		29.7	%		28.6	%		4.3	%		15.0	%
Depreciation and residual losses at termination		26.2			28.0			25.0			23.5			21.9			4.3			19.6

Definition of term(s):

Net rental income includes the lease payments earned on the equipment and 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 equipment and 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 equipment and 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.

⁽¹⁾	On a fully taxable equivalent (FTE) basis assuming a 35% tax rate.
⁽²⁾	Non-interest expense less amortization of intangibles divided by the sum of FTE net interest income and non-interest income excluding securities gains (losses).

⁽¹⁾	As of September 30, 2004, the Company adopted a policy, consistent with its policy for residential mortgage loans, of placing home equity loans and lines on nonaccrual status when they become greater than 180 days past due. In prior quarters, these balances were included in “Accruing loans and leases past due 90 days or more.”
⁽²⁾	At December 31, 2004, other real estate owned included $35.7 million of properties that relate to the work-out of $5.9 million of mezzanine loans. These properties were subject to $29.8 million of non-recourse debt to another financial institution. Both properties were sold in the first quarter of 2005.