EX-99.2

Exhibit 99.2

HUNTINGTON BANCSHARES INCORPORATED
Quarterly Financial Review
September 2008

Table of Contents


Consolidated Balance Sheets			1

Loans and Leases Composition			2

Deposit Composition			3

Consolidated Quarterly Average Balance Sheets			4

Consolidated Quarterly Net Interest Margin Analysis			5

Quarterly Average Loans and Leases and Deposit Composition By Business Segment			6

Selected Quarterly Income Statement Data			7

Quarterly Mortgage Banking Income			8

Quarterly Credit Reserves Analysis			9

Quarterly Net Charge-Off Analysis			10

Quarterly Nonaccrual Loans (NALs), Nonperforming Assets (NPAs) and Past Due Loans and Leases			11

Quarterly Common Stock Summary, Capital, and Other Data			12

Consolidated Year to Date Average Balance Sheets			13

Consolidated Year to Date Net Interest Margin Analysis			14

Selected Year to Date Income Statement Data			15

Year to Date Mortgage Banking Income			16

Year to Date Credit Reserves Analysis			17

Year to Date Net Charge-Off Analysis			18

Year to Date Nonaccrual Loans (NALs), Nonperforming Assets (NPAs) and Past Due Loans and Leases			19

Notes:

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

This document reflects the post-Sky merger organization structure effective on July 1, 2007. Accordingly, the balances presented include the impact of the acquisition from that date.

Contents

Huntington Bancshares Incorporated
Consolidated Balance Sheets


	2008			2007						September ‘08 vs ‘07
(in thousands, except number of shares)	September 30,			December 31,			September 30,			Amount			Percent
	*(Unaudited)*						(Unaudited)
Assets
Cash and due from banks	$	901,239		$	1,416,997		$	1,202,381		$	(301,142	)		(25.0)	%
Federal funds sold and securities purchased under resale agreements		269,519			592,649			431,244			(161,725	)		(37.5	)
Interest bearing deposits in banks		298,297			340,090			288,841			9,456			3.3
Trading account securities		998,249			1,032,745			1,034,240			(35,991	)		(3.5	)
Loans held for sale		286,751			494,379			479,853			(193,102	)		(40.2	)
Investment securities		4,575,825			4,500,171			4,288,974			286,851			6.7
Loans and leases ⁽¹⁾		41,191,723			40,054,338			39,987,240			1,204,483			3.0
Allowance for loan and lease losses		(720,738	)		(578,442	)		(454,784	)		(265,954	)		58.5

Net loans and leases		40,470,985			39,475,896			39,532,456			938,529			2.4

Bank owned life insurance		1,353,400			1,313,281			1,302,363			51,037			3.9
Premises and equipment		527,798			557,565			547,380			(19,582	)		(3.6	)
Goodwill		3,056,386			3,059,333			2,995,961			60,425			2.0
Other intangible assets		375,914			427,970			443,446			(67,532	)		(15.2	)
Accrued income and other assets		1,556,987			1,486,392			2,756,787			(1,199,800	)		(43.5	)

Total Assets	$	54,671,350		$	54,697,468		$	55,303,927		$	(632,577	)		(1.1)	%


Liabilities and Shareholders’ Equity Liabilities
Deposits ⁽²⁾	$	37,569,056		$	37,742,921		$	38,404,365		$	(835,309	)		(2.2)	%
Short-term borrowings		1,974,368			2,843,638			2,227,116			(252,748	)		(11.3	)
Federal Home Loan Bank advances		3,483,001			3,083,555			2,716,265			766,736			28.2
Other long-term debt		2,497,002			1,937,078			1,974,387			522,615			26.5
Subordinated notes		1,864,728			1,934,276			1,919,625			(54,897	)		(2.9	)
Accrued expenses and other liabilities		900,094			1,206,860			1,812,495			(912,401	)		(50.3	)

Total Liabilities		48,288,249			48,748,328			49,054,253			(766,004	)		(1.6	)


Shareholders’ equity
Preferred stock — authorized 6,617,808 shares- 8.50% Series A Non-cumulative Perpetual Convertible Preferred Stock, 569,000 shares issued and outstanding		569,000			—			—			569,000			—
Common stock -
Par value of $0.01 and authorized 1,000,000,000 shares; issued 366,970,661; 367,000,815, and 366,636,953 shares, respectively; outstanding 366,068,762; 366,261,676, and 365,898,439 shares respectively		3,670			3,670			3,665			5			0.1
Capital surplus		5,228,381			5,237,783			5,226,556			1,825			0.0
Less 901,899; 739,139 and 738,514 treasury shares at cost, respectively		(15,501	)		(14,391	)		(14,447	)		(1,054	)		7.3
Accumulated other comprehensive loss		(297,623	)		(49,611	)		(74,101	)		(223,522	)		N.M.
Retained earnings		895,174			771,689			1,108,001			(212,827	)		(19.2	)

Total Shareholders’ Equity		6,383,101			5,949,140			6,249,674			133,427			2.1

Total Liabilities and Shareholders’ Equity	$	54,671,350		$	54,697,468		$	55,303,927		$	(632,577	)		(1.1)	%

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
Loans and Leases Composition


													Change
	2008				2007								September ‘08 vs ‘07
(in thousands)	September 30,				December 31,				September 30,				Amount			Percent
	*(Unaudited)*								(Unaudited)
By Type
Commercial:
Commercial and industrial	$	13,638,066	33.1	%	$	13,125,565	32.8	%	$	13,125,158	32.8	%	$	512,908			3.9	%
Commercial real estate:
Construction		2,111,027	5.1			1,961,839	4.9			1,876,075	4.7			234,952			12.5
Commercial		7,796,133	18.9			7,221,213	18.0			7,097,465	17.7			698,668			9.8

Commercial real estate		9,907,160	24.0			9,183,052	22.9			8,973,540	22.4			933,620			10.4

Total commercial		23,545,226	57.1			22,308,617	55.7			22,098,698	55.2			1,446,528			6.5

Consumer:
Automobile loans		3,917,576	9.5			3,114,029	7.8			2,959,913	7.4			957,663			32.4
Automobile leases		698,450	1.7			1,179,505	2.9			1,365,805	3.4			(667,355	)		(48.9	)
Home equity		7,496,875	18.2			7,290,063	18.2			7,317,545	18.3			179,330			2.5
Residential mortgage		4,854,260	11.8			5,447,126	13.6			5,505,340	13.8			(651,080	)		(11.8	)
Other loans		679,336	1.7			714,998	1.8			739,939	1.9			(60,603	)		(8.2	)

Total consumer		17,646,497	42.9			17,745,721	44.3			17,888,542	44.8			(242,045	)		(1.4	)

Total loans and leases	$	41,191,723	100.0		$	40,054,338	100.0		$	39,987,240	100.0		$	1,204,483			3.0


By Business Segment
Regional Banking:
Central Ohio	$	5,223,789	12.7	%	$	5,149,503	12.9	%	$	5,010,489	12.5	%	$	213,300			4.3	%
Northwest Ohio		2,179,160	5.3			2,280,648	5.7			2,314,424	5.8			(135,264	)		(5.8	)
Greater Cleveland		3,301,249	8.0			3,104,336	7.8			3,063,600	7.7			237,649			7.8
Greater Akron/Canton		2,598,991	6.3			2,477,467	6.2			2,530,292	6.3			68,699			2.7
Southern Ohio/Kentucky		3,021,163	7.3			2,668,073	6.7			2,555,900	6.4			465,263			18.2
Mahoning Valley		1,240,950	3.0			1,274,608	3.2			1,300,711	3.3			(59,761	)		(4.6	)
West Michigan		2,624,581	6.4			2,478,683	6.2			2,521,990	6.3			102,591			4.1
East Michigan		1,818,433	4.4			1,747,914	4.4			1,752,106	4.4			66,327			3.8
Pittsburgh		2,003,051	4.9			1,859,401	4.6			1,818,292	4.5			184,759			10.2
Central Indiana		1,585,247	3.8			1,421,401	3.5			1,420,084	3.6			165,163			11.6
West Virginia		1,221,503	3.0			1,155,719	2.9			1,125,628	2.8			95,875			8.5
Other Regional		5,866,427	14.3			6,287,871	15.6			6,645,158	16.6			(778,731	)		(11.7	)

Regional Banking		32,684,544	79.3			31,905,624	79.7			32,058,674	80.2			625,870			2.0
Auto Finance and Dealer Services		5,900,223	14.3			5,563,415	13.9			5,449,580	13.6			450,643			8.3
Private Financial and Capital Markets Group		2,606,956	6.4			2,585,299	6.4			2,478,986	6.2			127,970			5.2
Treasury / Other		—	—			—	—			—	—			—			—

Total loans and leases	$	41,191,723	100.0	%	$	40,054,338	100.0	%	$	39,987,240	100.0	%	$	1,204,483			3.0	%

Huntington Bancshares Incorporated
Deposit Composition


													Change
	2008				2007								September ‘08 vs ‘07
(in thousands)	September 30,				December 31,				September 30,				Amount			Percent
	*(Unaudited)*								(Unaudited)
By Type
Demand deposits — non-interest bearing	$	5,135,164	13.7	%	$	5,371,747	14.2	%	$	4,984,663	13.0	%	$	150,501			3.0	%
Demand deposits — interest bearing		4,052,032	10.8			4,048,873	10.7			3,982,102	10.4			69,930			1.8
Money market deposits		5,565,439	14.8			6,643,242	17.6			6,721,963	17.5			(1,156,524	)		(17.2	)
Savings and other domestic deposits		4,816,038	12.8			5,163,287	13.7			5,286,236	13.8			(470,198	)		(8.9	)
Core certificates of deposit		12,156,660	32.4			10,736,146	28.4			10,611,821	27.6			1,544,839			14.6

Total core deposits		31,725,333	84.5			31,963,295	84.6			31,586,785	82.3			138,548			0.4
Other domestic deposits of $100,000 or more		1,948,899	5.2			1,676,058	4.4			1,505,657	3.9			443,242			29.4
Brokered deposits and negotiable CDs		2,925,440	7.8			3,376,854	8.9			3,701,726	9.6			(776,286	)		(21.0	)
Deposits in foreign offices		969,384	2.5			726,714	2.1			1,610,197	4.2			(640,813	)		(39.8	)

Total deposits	$	37,569,056	100.0	%	$	37,742,921	100.0	%	$	38,404,365	100.0	%	$	(835,309	)		(2.2	)%


Total core deposits:
Commercial	$	8,007,619	25.2	%	$	9,017,852	28.2	%	$	9,017,474	28.5	%	$	(1,009,855	)		(11.2	)%
Personal		23,717,714	74.8			22,945,443	71.8			22,569,311	71.5			1,148,403			5.1

Total core deposits	$	31,725,333	100.0	%	$	31,963,295	100.0	%	$	31,586,785	100.0	%	$	138,548			0.4	%


By Business Segment
Regional Banking:
Central Ohio	$	6,136,030	16.3	%	$	6,319,899	16.7	%	$	5,922,566	15.4	%	$	213,464			3.6	%
Northwest Ohio		2,690,720	7.2			2,836,309	7.5			2,839,877	7.4			(149,157	)		(5.3	)
Greater Cleveland		3,248,385	8.6			3,201,791	8.5			3,074,412	8.0			173,973			5.7
Greater Akron/Canton		3,270,480	8.7			3,188,682	8.4			3,249,922	8.5			20,558			0.6
Southern Ohio/Kentucky		2,643,955	7.0			2,628,879	7.0			2,625,958	6.8			17,997			0.7
Mahoning Valley		2,263,719	6.0			2,333,794	6.2			2,324,259	6.1			(60,540	)		(2.6	)
West Michigan		3,021,528	8.0			2,918,709	7.7			2,965,334	7.7			56,194			1.9
East Michigan		2,663,131	7.1			2,444,269	6.5			2,422,248	6.3			240,883			9.9
Pittsburgh		2,749,254	7.3			2,536,007	6.7			2,555,209	6.7			194,045			7.6
Central Indiana		1,902,232	5.1			1,894,940	5.0			1,909,499	5.0			(7,267	)		(0.4	)
West Virginia		1,723,002	4.6			1,589,520	4.2			1,559,909	4.1			163,093			10.5
Other Regional		711,649	1.9			788,703	2.1			632,177	1.6			79,472			12.6

Regional Banking		33,024,085	87.9			32,681,502	86.6			32,081,370	83.5			942,715			2.9
Auto Finance and Dealer Services		67,040	0.2			58,196	0.2			63,399	0.2			3,641			5.7
Private Financial and Capital Markets Group		1,552,591	4.1			1,626,043	4.3			1,630,675	4.2			(78,084	)		(4.8	)
Treasury / Other⁽¹⁾		2,925,340	7.8			3,377,180	8.9			4,628,921	12.1			(1,703,581	)		(36.8	)

Total deposits	$	37,569,056	100.0	%	$	37,742,921	100.0	%	$	38,404,365	100.0	%	$	(835,309	)		(2.2	)%



⁽¹⁾		Comprised largely of national market deposits.

Huntington Bancshares Incorporated
Consolidated Quarterly Average Balance Sheets

(Unaudited)


	Average Balances															Change
Fully taxable equivalent basis	2008									2007						3Q08 vs 3Q07
(in millions)	Third			Second			First			Fourth			Third			Amount			Percent

Assets
Interest bearing deposits in banks	$	321		$	256		$	293		$	324		$	292		$	29			9.9	%
Trading account securities		992			1,243			1,186			1,122			1,149			(157	)		(13.7	)
Federal funds sold and securities purchased under resale agreements		363			566			769			730			557			(194	)		(34.8	)
Loans held for sale		274			501			565			493			419			(145	)		(34.6	)
Investment securities:
Taxable		3,978			3,971			3,774			3,807			3,951			27			0.7
Tax-exempt		712			717			703			689			675			37			5.5

Total investment securities		4,690			4,688			4,477			4,496			4,626			64			1.4
Loans and leases:⁽¹⁾
Commercial:
Commercial and industrial		13,629			13,631			13,343			13,270			13,036			593			4.55
Commercial real estate:
Construction		2,090			2,038			2,014			1,892			1,815			275			15.2
Commercial		7,726			7,563			7,273			7,161			7,165			561			7.8

Commercial real estate		9,816			9,601			9,287			9,053			8,980			836			9.3

Total commercial		23,445			23,232			22,630			22,323			22,016			1,429			6.5

Consumer:
Automobile loans		3,856			3,636			3,309			3,052			2,931			925			31.6
Automobile leases		768			915			1,090			1,272			1,423			(655	)		(46.0	)

Automobile loans and leases		4,624			4,551			4,399			4,324			4,354			270			6.2
Home equity		7,453			7,365			7,274			7,297			7,468			(15	)		(0.2	)
Residential mortgage		4,812			5,178			5,351			5,437			5,456			(644	)		(11.8	)
Other loans		670			699			713			728			534			136			25.5

Total consumer		17,559			17,793			17,737			17,786			17,812			(253	)		(1.4	)

Total loans and leases		41,004			41,025			40,367			40,109			39,828			1,176			3.0
Allowance for loan and lease losses		(731	)		(654	)		(630	)		(474	)		(475	)		(256	)		(53.9	)

Net loans and leases		40,273			40,371			39,737			39,635			39,353			920			2.3

Total earning assets		47,644			48,279			47,657			47,274			46,871			773			1.7

Cash and due from banks		925			943			1,036			1,098			1,111			(186	)		(16.7	)
Intangible assets		3,441			3,449			3,472			3,440			3,337			104			3.1
All other assets		3,385			3,522			3,350			3,142			3,124			261			8.4

Total Assets	$	54,664		$	55,539		$	54,885		$	54,480		$	53,968		$	696			1.3	%


Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — non-interest bearing	$	5,080		$	5,061		$	5,034		$	5,218		$	5,384		$	(304	)		(5.6	)%
Demand deposits — interest bearing		4,005			4,086			3,934			3,929			3,808			197			5.2
Money market deposits		5,860			6,267			6,753			6,845			6,869			(1,009	)		(14.7	)
Savings and other domestic deposits		4,911			5,047			5,004			5,012			5,127			(216	)		(4.2	)
Core certificates of deposit		11,883			10,950			10,790			10,666			10,451			1,432			13.7

Total core deposits		31,739			31,411			31,515			31,670			31,639			100			0.3
Other domestic deposits of $100,000 or more		1,991			2,145			1,989			1,739			1,584			407			25.7
Brokered deposits and negotiable CDs		3,025			3,361			3,542			3,518			3,728			(703	)		(18.9	)
Deposits in foreign offices		1,048			1,110			885			748			701			347			49.5

Total deposits		37,803			38,027			37,931			37,675			37,652			151			0.4
Short-term borrowings		2,131			2,854			2,772			2,489			2,542			(411	)		(16.2	)
Federal Home Loan Bank advances		3,139			3,412			3,389			3,070			2,553			586			23.0
Subordinated notes and other long-term debt		4,382			3,928			3,814			3,875			3,912			470			12.0

Total interest bearing liabilities		42,375			43,160			42,872			41,891			41,275			1,100			2.7

All other liabilities		885			963			1,104			1,160			1,103			(218	)		(19.8	)
Shareholders’ equity		6,324			6,355			5,875			6,211			6,206			118			1.9

Total Liabilities and Shareholders’ Equity	$	54,664		$	55,539		$	54,885		$	54,480		$	53,968		$	696			1.3	%


⁽¹⁾		For purposes of this analysis, nonaccrual loans are reflected in the average balances of loans.

Huntington Bancshares Incorporated
Consolidated Quarterly Net Interest Margin Analysis

(Unaudited)


	Average Rates⁽²⁾
	2008									2007
Fully taxable equivalent basis ⁽¹⁾	Third			Second			First			Fourth			Third

Assets
Interest bearing deposits in banks		2.17	%		2.77	%		3.97	%		4.30	%		4.69	%
Trading account securities		5.45			5.13			5.27			5.72			6.01
Federal funds sold and securities purchased under resale agreements		2.02			2.08			3.07			4.59			5.26
Loans held for sale		6.54			5.98			5.41			5.86			5.13
Investment securities:
Taxable		5.53			5.50			5.71			5.98			6.09
Tax-exempt		6.80			6.77			6.75			6.74			6.78

Total investment securities		5.73			5.69			5.88			6.10			6.19
Loans and leases:⁽³⁾
Commercial:
Commercial and industrial		5.46			5.53			6.32			6.92			7.70
Commercial real estate:
Construction		4.69			4.81			5.86			7.24			7.70
Commercial		5.33			5.47			6.27			7.09			7.63

Commercial real estate		5.19			5.32			6.18			7.12			7.65

Total commercial		5.35			5.45			6.27			7.00			7.68

Consumer:
Automobile loans		7.11			7.12			7.25			7.31			7.25
Automobile leases		5.70			5.59			5.53			5.52			5.56

Automobile loans and leases		6.88			6.81			6.82			6.78			6.70
Home equity		6.19			6.43			7.21			7.81			7.94
Residential mortgage		5.83			5.78			5.86			5.88			6.06
Other loans		9.69			9.98			10.43			10.91			11.48

Total consumer		6.41			6.48			6.84			7.10			7.17

Total loans and leases		5.80			5.89			6.51			7.05			7.45

Total earning assets		5.76	%		5.85	%		6.40	%		6.88	%		7.25	%


Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — non-interest bearing		—	%		—	%		—	%		—	%		—	%
Demand deposits — interest bearing		0.51			0.55			0.82			1.14			1.53
Money market deposits		1.66			1.76			2.83			3.67			3.78
Savings and other domestic deposits		1.73			1.83			2.27			2.54			2.54
Core certificates of deposit		4.04			4.37			4.68			4.83			4.98

Total core deposits		2.56			2.67			3.18			3.55			3.69
Other domestic deposits of $100,000 or more		3.46			3.77			4.38			5.00			4.89
Brokered deposits and negotiable CDs		3.36			3.38			4.43			5.24			5.42
Deposits in foreign offices		1.49			1.66			2.16			3.27			3.29

Total deposits		2.66			2.78			3.36			3.80			3.94
Short-term borrowings		1.42			1.66			2.78			3.74			4.10
Federal Home Loan Bank advances		2.92			3.01			3.94			5.03			5.31
Subordinated notes and other long-term debt		4.29			4.21			5.12			5.93			6.15

Total interest bearing liabilities		2.78	%		2.85	%		3.53	%		4.09	%		4.24	%


Net interest rate spread		2.98	%		3.00	%		2.87	%		2.79	%		3.01	%
Impact of non-interest bearing funds on margin		0.31			0.29			0.36			0.47			0.51

Net interest margin		3.29	%		3.29	%		3.23	%		3.26	%		3.52	%


⁽¹⁾		Fully taxable equivalent (FTE) yields are calculated assuming a 35% tax rate. See page 7 for the FTE adjustment.

⁽²⁾		Loan, lease, and deposit average rates include impact of applicable derivatives and non-deferrable fees.

⁽³⁾		For purposes of this analysis, nonaccrual loans are reflected in the average balances of loans.

Huntington Bancshares Incorporated
Quarterly Average Loans and Leases and Deposit
Composition By Business Segment

(Unaudited)


	Average Balances										Change
	2008						2007				3Q08 vs 3Q07
(in millions)	Third		Second		First		Fourth		Third		Amount			Percent

Loans and direct financing leases⁽¹⁾
Regional Banking:
Central Ohio	$	5,202	$	5,199	$	5,099	$	5,040	$	4,919	$	283			5.8	%
Northwest Ohio		2,209		2,251		2,295		2,301		2,328		(119	)		(5.1	)
Greater Cleveland		3,274		3,241		3,148		3,085		2,998		276			9.2
Greater Akron/Canton		2,592		2,586		2,516		2,488		2,220		372			16.8
Southern Ohio/Kentucky		2,999		2,925		2,782		2,584		2,536		463			18.3
Mahoning Valley		1,224		1,268		1,266		1,279		1,170		54			4.6
West Michigan		2,633		2,572		2,508		2,472		2,485		148			6.0
East Michigan		1,819		1,792		1,734		1,761		1,749		70			4.0
Pittsburgh		1,983		1,932		1,902		1,856		1,699		284			16.7
Central Indiana		1,545		1,527		1,463		1,397		1,406		139			9.9
West Virginia		1,198		1,199		1,160		1,135		1,163		35			3.0
Other Regional		5,798		6,062		6,221		6,672		7,280		(1,482	)		(20.4	)

Regional Banking		32,476		32,554		32,094		32,070		31,953		523			1.6
Auto Finance and Dealer Services		5,928		5,877		5,720		5,515		5,376		552			10.3
Private Financial and Capital Markets Group		2,600		2,594		2,553		2,524		2,499		101			4.0
Treasury / Other		—		—		—		—		—		—			—

Total loans and direct financing leases	$	41,004	$	41,025	$	40,367	$	40,109	$	39,828	$	1,176			3.0	%


Deposit composition⁽¹⁾
Regional Banking:
Central Ohio	$	6,331	$	6,596	$	6,359	$	6,158	$	6,014	$	317			5.3	%
Northwest Ohio		2,755		2,765		2,828		2,823		2,855		(100	)		(3.5	)
Greater Cleveland		3,272		3,317		3,189		3,097		2,972		300			10.1
Greater Akron/Canton		3,239		3,211		3,231		3,236		3,152		87			2.8
Southern Ohio/Kentucky		2,638		2,596		2,655		2,644		2,563		75			2.9
Mahoning Valley		2,281		2,277		2,312		2,331		2,368		(87	)		(3.7	)
West Michigan		2,981		2,906		2,904		2,923		2,866		115			4.0
East Michigan		2,612		2,458		2,420		2,406		2,424		188			7.8
Pittsburgh		2,609		2,562		2,545		2,553		2,555		54			2.1
Central Indiana		1,880		1,946		1,888		1,939		1,830		50			2.7
West Virginia		1,674		1,608		1,594		1,567		1,562		112			7.2
Other Regional		860		851		824		775		992		(132	)		(13.3	)

Regional Banking		33,132		33,093		32,749		32,452		32,153		979			3.0
Auto Finance and Dealer Services		62		54		54		59		56		6			10.7
Private Financial and Capital Markets Group		1,583		1,518		1,583		1,629		1,645		(62	)		(3.8	)
Treasury / Other		3,026		3,362		3,545		3,535		3,798		(772	)		(20.3	)

Total deposits	$	37,803	$	38,027	$	37,931	$	37,675	$	37,652	$	151			0.4	%


⁽¹⁾		Prior period amounts have been reclassified to conform to the current period presentation.

Huntington Bancshares Incorporated
Selected Quarterly Income Statement Data ⁽¹⁾

(Unaudited)


	2008									2007						3Q08 vs 3Q07
(in thousands, except per share amounts)	Third			Second			First			Fourth			Third			Amount			Percent

Interest income	$	685,728		$	696,675		$	753,411		$	814,398		$	851,155		$	(165,427	)		(19.4)	%
Interest expense		297,092			306,809			376,587			431,465			441,522			(144,430	)		(32.7	)

Net interest income		388,636			389,866			376,824			382,933			409,633			(20,997	)		(5.1	)
Provision for credit losses		125,392			120,813			88,650			512,082			42,007			83,385			N.M.

Net interest income (loss) after provision for credit losses		263,244			269,053			288,174			(129,149	)		367,626			(104,382	)		(28.4	)

Service charges on deposit accounts		80,508			79,630			72,668			81,276			78,107			2,401			3.1
Trust services		30,952			33,089			34,128			35,198			33,562			(2,610	)		(7.8	)
Brokerage and insurance income		34,309			35,694			36,560			30,288			28,806			5,503			19.1
Other service charges and fees		23,446			23,242			20,741			21,891			21,045			2,401			11.4
Bank owned life insurance income		13,318			14,131			13,750			13,253			14,847			(1,529	)		(10.3	)
Mortgage banking income (loss)		10,302			12,502			(7,063	)		3,702			9,629			673			7.0
Securities (losses) gains		(15,157	)		2,073			1,429			(11,551	)		(13,152	)		(2,005	)		(15.2	)
Other income (loss) ⁽²⁾		48,812			36,069			63,539			(3,500	)		31,830			16,982			53.4

Total non-interest income		226,490			236,430			235,752			170,557			204,674			21,816			10.7

Personnel costs		184,827			199,991			201,943			214,850			202,148			(17,321	)		(8.6	)
Outside data processing and other services		32,386			30,186			34,361			39,130			40,600			(8,214	)		(20.2	)
Net occupancy		25,215			26,971			33,243			26,714			33,334			(8,119	)		(24.4	)
Equipment		22,102			25,740			23,794			22,816			23,290			(1,188	)		(5.1	)
Amortization of intangibles		19,463			19,327			18,917			20,163			19,949			(486	)		(2.4	)
Marketing		7,049			7,339			8,919			16,175			13,186			(6,137	)		(46.5	)
Professional services		13,405			13,752			9,090			14,464			11,273			2,132			18.9
Telecommunications		6,007			6,864			6,245			8,513			7,286			(1,279	)		(17.6	)
Printing and supplies		4,316			4,757			5,622			6,594			4,743			(427	)		(9.0	)
Other expense ⁽²⁾		24,226			42,876			28,347			70,133			29,754			(5,528	)		(18.6	)

Total non-interest expense		338,996			377,803			370,481			439,552			385,563			(46,567	)		(12.1	)

Income (loss) before income taxes		150,738			127,680			153,445			(398,144	)		186,737			(35,999	)		(19.3	)
Provision (benefit) for income taxes		35,535			26,328			26,377			(158,864	)		48,535			(13,000	)		(26.8	)

Net income (loss)	$	115,203		$	101,352		$	127,068		$	(239,280	)	$	138,202		$	(22,999	)		(16.6	)%


Dividends declared on preferred shares		12,091			11,151			—			—			—			12,091			—


Net income (loss) applicable to common shares	$	103,112		$	90,201		$	127,068		$	(239,280	)	$	138,202		$	(35,090	)		(25.4	)%


Average common shares — basic		366,124			366,206			366,235			366,119			365,895
Average common shares — diluted ⁽³⁾		414,968			367,234			367,208			366,119			368,280			46,688			12.7	%

Per common share
Net income (loss) — basic	$	0.28		$	0.25		$	0.35		$	(0.65	)	$	0.38		$	(0.10	)		(26.3	)%
Net income (loss) — diluted		0.28			0.25			0.35			(0.65	)		0.38		$	(0.10	)		(26.3	)
Cash dividends declared		0.1325			0.1325			0.2650			0.2650			0.2650			(0.133	)		(50.2	)

Return on average total assets		0.84	%		0.73	%		0.93	%		(1.74)	%		1.02			(0.18)	%		(17.6	)
Return on average total shareholders’ equity		7.2			6.4			8.7			(15.3	)		8.8			(1.6	)		(18.2	)
Return on average tangible shareholders’ equity ⁽⁴⁾		16.9			15.0			22.0			(30.7	)		19.7			(2.80	)		(14.2	)
Net interest margin ⁽⁵⁾		3.29			3.29			3.23			3.26			3.52			(0.23	)		(6.5	)
Efficiency ratio ⁽⁶⁾		50.3			56.9			57.0			73.5			57.7			(7.4	)		(12.8	)
Effective tax rate (benefit)		23.6			20.6			17.2			(39.9	)		26.0			(2.4	)		(9.2	)

Revenue — fully taxable equivalent (FTE)
Net interest income	$	388,636		$	389,866		$	376,824		$	382,933		$	409,633		$	(20,997	)		(5.1	)
FTE adjustment		5,451			5,624			5,502			5,363			5,712			(261	)		(4.6	)

Net interest income⁽⁵⁾		394,087			395,490			382,326			388,296			415,345			(21,258	)		(5.1	)
Non-interest income		226,490			236,430			235,752			170,557			204,674			21,816			10.7

Total revenue⁽⁵⁾	$	620,577		$	631,920		$	618,078		$	558,853		$	620,019		$	558			0.1	%

N.M., not a meaningful value.


⁽¹⁾		Comparisons for presented periods are impacted by a number of factors. Refer to “Significant Items Influencing Financial Performance Comparisons”.

⁽²⁾		Automobile operating lease income and expense is included in ‘Other Income’ and ‘Other Expense’, respectively.

⁽³⁾		For the three months ended September 30, 2008, the impact of the convertible preferred stock issued in April of 2008 was included in the diluted share calculation. It was included because the result was less than basic earnings per common share (dilutive) for the period. For the three months ended June 30, 2008, the impact of the convertible preferred stock issued in April of 2008 was excluded from the diluted share calculation. It was excluded because the result would have been higher than basic earnings per common share (anti-dilutive) for the period.

⁽⁴⁾		Net income excluding expense for amortization of intangibles for the period divided by average tangible shareholders’ equity. Average tangible shareholders’ equity equals average stockholders’ equity less equals average intangible assets and goodwill. Expense for amortization of intangibles and average intangible assets are net of deferred tax liability, and calculated assuming a 35% tax rate.

⁽⁵⁾		On a fully taxable equivalent (FTE) basis assuming a 35% tax rate.

⁽⁶⁾		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 Mortgage Banking Income

(Unaudited)


	2008									2007						3Q08 vs 3Q07
(in thousands, except as noted)	Third			Second			First			Fourth			Third			Amount			Percent

Mortgage Banking Income
Origination and secondary marketing	$	7,647		$	13,098		$	9,332		$	5,879		$	8,375		$	(728	)		(8.7)	%
Servicing fees		11,838			11,166			10,894			11,405			10,811			1,027			9.5
Amortization of capitalized servicing⁽¹⁾		(6,234	)		(7,024	)		(6,914	)		(5,929	)		(6,571	)		337			5.1
Other mortgage banking income		3,519			5,959			4,331			4,113			3,016			503			16.7

Sub-total		16,770			23,199			17,643			15,468			15,631			1,139			7.3
MSR valuation adjustment ⁽¹⁾		(10,251	)		39,031			(18,093	)		(21,245	)		(9,863	)		(388	)		3.9
Net trading gains (losses) related to MSR hedging		3,783			(49,728	)		(6,613	)		9,479			3,861			(78	)		(2.0	)

Total mortgage banking income (loss)	$	10,302		$	12,502		$	(7,063	)	$	3,702		$	9,629		$	673			7.0	%


Capitalized mortgage servicing rights⁽²⁾	$	230,398		$	240,024		$	191,806		$	207,894		$	228,933		$	1,465			0.6	%
Total mortgages serviced for others (in millions)⁽²⁾		15,741			15,770			15,138			15,088			15,073			668			4.4
MSR % of investor servicing portfolio		1.46	%		1.52	%		1.27	%		1.38	%		1.52	%		(0.06	)%		(3.9	)


Net Impact of MSR Hedging
MSR valuation adjustment⁽¹⁾	$	(10,251	)	$	39,031		$	(18,093	)	$	(21,245	)	$	(9,863	)	$	(388	)		3.9	%
Net trading gains (losses) related to MSR hedging		3,783			(49,728	)		(6,613	)		9,479			3,861			(78	)		(2.0	)
Net interest income related to MSR hedging		8,368			9,364			5,934			3,192			2,357			6,011			N.M.

Net impact of MSR hedging	$	1,900		$	(1,333	)	$	(18,772	)	$	(8,574	)	$	(3,645	)	$	5,545			N.M.	%

N.M., not a meaningful value.


⁽¹⁾		The change in fair value for the period represents the MSR valuation adjustment, net of amortization of capitalized servicing.

⁽²⁾		At period end.

Huntington Bancshares Incorporated
Quarterly Credit Reserves Analysis

(Unaudited)


	2008									2007
(in thousands)	Third			Second			First			Fourth			Third


Allowance for loan and lease losses, beginning of period	$	679,403		$	627,615		$	578,442		$	454,784		$	307,519

Acquired allowance for loan and lease losses		—			—			—			—			188,128
Loan and lease losses		(96,388	)		(78,084	)		(60,804	)		(388,506	)		(57,466	)
Recoveries of loans previously charged off		12,637			12,837			12,355			10,599			10,360

Net loan and lease losses		(83,751	)		(65,247	)		(48,449	)		(377,907	)		(47,106	)

Provision for loan and lease losses		125,086			117,035			97,622			503,781			36,952
Allowance for loans transferred to held-for-sale		—			—			—			(2,216	)		(30,709	)

Allowance for loan and lease losses, end of period	$	720,738		$	679,403		$	627,615		$	578,442		$	454,784


Allowance for unfunded loan commitments and letters of credit, beginning of period	$	61,334		$	57,556		$	66,528		$	58,227		$	41,631

Acquired AULC		—			—			—			—			11,541
Provision for (reduction in) unfunded loan commitments and letters of credit losses		306			3,778			(8,972	)		8,301			5,055

Allowance for unfunded loan commitments and letters of credit, end of period	$	61,640		$	61,334		$	57,556		$	66,528		$	58,227


Total allowances for credit losses	$	782,378		$	740,737		$	685,171		$	644,970		$	513,011


Allowance for loan and lease losses (ALLL) as % of:
Transaction reserve		1.54	%		1.45	%		1.34	%		1.27	%		0.97	%
Economic reserve		0.21			0.21			0.19			0.17			0.17

Total loans and leases		1.75	%		1.66	%		1.53	%		1.44	%		1.14	%

Nonaccrual loans and leases (NALs)		123			127			166			181			182

Total allowances for credit losses (ACL) as % of:
Total loans and leases		1.90	%		1.80	%		1.67	%		1.61	%		1.28	%
Nonaccrual loans and leases		134			138			182			202			206

Huntington Bancshares Incorporated
Quarterly Net Charge-Off Analysis

(Unaudited)


	2008									2007
(in thousands)	Third			Second			First			Fourth			Third


Net charge-offs by loan and lease type:
Commercial:
Commercial and industrial	$	29,646		$	12,361		$	10,732		$	323,905		$	12,641
Commercial real estate:
Construction		3,539			575			122			6,800			2,157
Commercial		7,446			14,524			4,153			13,936			2,506

Commercial real estate		10,985			15,099			4,275			20,736			4,663

Total commercial		40,631			27,460			15,007			344,641			17,304

Consumer:
Automobile loans		9,813			8,522			8,008			7,347			5,354
Automobile leases		3,532			2,928			3,211			3,046			2,561

Automobile loans and leases		13,345			11,450			11,219			10,393			7,915
Home equity ⁽¹⁾		15,828			17,345			15,215			12,212			10,841
Residential mortgage		6,706			4,286			2,927			3,340			4,405
Other loans ⁽¹⁾		7,241			4,706			4,081			7,321			6,641

Total consumer		43,120			37,787			33,442			33,266			29,802


Total net charge-offs	$	83,751		$	65,247		$	48,449		$	377,907		$	47,106


Net charge-offs — annualized percentages:
Commercial:
Commercial and industrial		0.87	%		0.36	%		0.32	%		9.76	%		0.39	%
Commercial real estate:
Construction		0.68			0.11			0.02			1.44			0.48
Commercial		0.39			0.77			0.23			0.78			0.14

Commercial real estate		0.45			0.63			0.18			0.92			0.21

Total commercial		0.69			0.47			0.27			6.18			0.31

Consumer:
Automobile loans		1.02			0.94			0.97			0.96			0.73
Automobile leases		1.84			1.28			1.18			0.96			0.72

Automobile loans and leases		1.15			1.01			1.02			0.96			0.73
Home equity ⁽¹⁾		0.85			0.94			0.84			0.67			0.58
Residential mortgage		0.56			0.33			0.22			0.25			0.32
Other loans ⁽¹⁾		4.32			2.69			2.29			4.02			4.97

Total consumer		0.98			0.85			0.75			0.75			0.67


Net charge-offs as a % of average loans		0.82	%		0.64	%		0.48	%		3.77	%		0.47	%


⁽¹⁾		During the 2008 third quarter, we reclassified certain previously reported 2008 first and second quarter charge-offs from other consumer loans to home equity loans.

Huntington Bancshares Incorporated
Quarterly Nonaccrual Loans (NALs), Nonperforming Assets (NPAs) and Past Due Loans and Leases

(Unaudited)


	2008									2007
(in thousands)	September 30,			June 30,			March 31,			December 31,			September 30,


Nonaccrual loans and leases:
Commercial and industrial	$	174,207		$	161,345		$	101,842		$	87,679		$	82,960
Commercial real estate		298,844			261,739			183,000			148,467			95,587
Residential mortgage		85,163			82,882			66,466			59,557			47,738
Home equity		27,727			29,076			26,053			24,068			23,111

Total nonaccrual loans and leases		585,941			535,042			377,361			319,771			249,396
Restructured loans ⁽⁴⁾		364,939			368,379			1,157,361			1,187,368			—
Other real estate, net:
Residential		59,302			59,119			63,675			60,804			49,555
Commercial		14,176			13,259			10,181			14,467			19,310

Total other real estate, net		73,478			72,378			73,856			75,271			68,865
Impaired loans held for sale ⁽¹⁾		13,503			14,759			66,353			73,481			100,485
Other NPAs ⁽²⁾		2,397			2,557			2,836			4,379			16,296

Total nonperforming assets	$	1,040,258		$	993,115		$	1,677,767		$	1,660,270		$	435,042


Nonaccrual loans and leases as a % of total loans and leases (NAL ratio)		1.42	%		1.30	%		0.92	%		0.80	%		0.62	%

NPA ratio ⁽³⁾		2.52			2.41			4.08			4.13			1.08

Accruing loans and leases past due 90 days or more	$	191,518		$	136,914		$	152,897		$	140,977		$	115,607

Accruing loans and leases past due 90 days or more as a percent of total loans and leases		0.46	%		0.33	%		0.37	%		0.35	%		0.29	%

	2008									2007

(in thousands)	Third			Second			First			Fourth			Third


Nonperforming assets, beginning of period	$	993,115		$	1,677,767		$	1,660,270		$	435,042		$	261,185
New nonperforming assets		175,345			256,308			141,090			211,134			92,986
Restructured loans ⁽⁴⁾		—			(762,033	)		—			1,187,368			—
Acquired nonperforming assets		—			—			—			—			144,492
Returns to accruing status		(9,104	)		(5,817	)		(13,484	)		(5,273	)		(8,829	)
Loan and lease losses		(52,792	)		(40,808	)		(27,896	)		(62,502	)		(28,031	)
Payments		(46,759	)		(73,040	)		(68,753	)		(30,756	)		(17,589	)
Sales		(19,547	)		(59,262	)		(13,460	)		(74,743	)		(9,172	)

Nonperforming assets, end of period	$	1,040,258		$	993,115		$	1,677,767		$	1,660,270		$	435,042


⁽¹⁾		Represent impaired loans obtained from the Sky Financial acquisition. Held for sale loans are carried at the lower of cost or fair value less costs to sell. The decline from March 31, 2008 to June 30, 2008 was primarily due to the sale of these loans.

⁽²⁾		Other NPAs represent certain investment securities backed by mortgage loans to borrowers with lower FICO scores.

⁽³⁾		Nonperforming assets divided by the sum of loans and leases, impaired loans held for sale, net other real estate, and other NPAs.

⁽⁴⁾		Restructured loans represent loans to Franklin Credit Management Corporation (Franklin) that were restructured during the 2007 fourth quarter, and the subsequent removal of the Franklin Tranche A loans from nonperforming status during the 2008 second quarter.

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

(Unaudited)

Quarterly common stock summary


	2008									2007
(in thousands, except per share amounts)	Third			Second			First			Fourth			Third


Common stock price, per share
High ⁽¹⁾	$	13.500		$	11.750		$	14.870		$	18.390		$	22.930
Low⁽¹⁾		4.370			4.940			9.640			13.500			16.050
Close		7.990			5.770			10.750			14.760			16.980
Average closing price		7.510			8.783			12.268			16.125			18.671

Dividends, per share
Cash dividends declared per common share	$	0.1325		$	0.1325		$	0.2650		$	0.2650		$	0.2650

Common shares outstanding
Average — basic		366,124			366,206			366,235			366,119			365,895
Average — diluted ⁽²⁾		414,968			367,234			367,208			366,119			368,280
Ending		366,069			366,197			366,226			366,262			365,898

Book value per common share	$	15.88		$	15.87		$	16.13		$	16.24		$	17.08
Tangible book value per common share ⁽²⁾		6.87			6.82			7.08			7.13			8.10


Capital data

	2008									2007
(in millions)	September 30,			June 30,			March 31,			December 31,			September 30,


Calculation of tangible equity / asset ratio:
Total shareholders’ equity	$	6,383		$	6,381		$	5,907		$	5,949		$	6,250
Less: goodwill		(3,056	)		(3,057	)		(3,047	)		(3,059	)		(2,996	)
Less: other intangible assets		(376	)		(395	)		(409	)		(428	)		(443	)
Add: related deferred tax liability ⁽³⁾		132			138			143			150			155

Total tangible equity		3,082			3,068			2,593			2,612			2,965
Less: Preferred equity		(569	)		(569	)		—			—			—

Total tangible common equity	$	2,513		$	2,499		$	2,593		$	2,612		$	2,965


Total assets	$	54,671		$	55,334		$	56,052		$	54,697		$	55,304
Less: goodwill		(3,056	)		(3,057	)		(3,047	)		(3,059	)		(2,996	)
Less: other intangible assets		(376	)		(395	)		(409	)		(428	)		(443	)
Add: related deferred tax liability ⁽³⁾		132			138			143			150			155

Total tangible assets	$	51,371		$	52,020		$	52,739		$	51,360		$	52,020


Tangible equity / asset ratio		6.00	%		5.90	%		4.92	%		5.08	%		5.70	%
Tangible common equity / asset ratio		4.89			4.80			4.92			5.08			5.70

Other capital data:
Total risk-weighted assets⁽⁴⁾	$	46,628		$	46,602		$	46,546		$	46,044		$	45,931

Tier 1 leverage ratio⁽⁴⁾		8.05	%		7.88	%		6.83	%		6.77	%		7.57	%
Tier 1 risk-based capital ratio⁽⁴⁾		8.86			8.82			7.56			7.51			8.35
Total risk-based capital ratio⁽⁴⁾		12.09			12.05			10.87			10.85			11.58

Tangible equity / risk-weighted assets ratio⁽⁴⁾		6.61			6.58			5.57			5.67			6.46
Average equity / average assets		11.57			11.44			10.70			11.40			11.50

Other data:
Number of employees (full-time equivalent)		10,890			11,250			11,787			11,925			12,312
Number of domestic full-service banking offices⁽⁵⁾		612			625			627			625			620


⁽¹⁾		High and low stock prices are intra-day quotes obtained from NASDAQ.

⁽²⁾		For the three months ended September 30, 2008, the impact of the convertible preferred stock issued in April of 2008 was included in the diluted share calculation. It was included because the result was less than basic earnings per common share (dilutive) for the period. For the three months ended June 30, 2008, the impact of the convertible preferred stock issued in April of 2008 was excluded from the diluted share calculation. It was excluded because the result would have been higher than basic earnings per common share (anti-dilutive) for the period.

⁽³⁾		Other intangible assets are net of deferred tax liability, and calculated assuming a 35% tax rate.

⁽⁴⁾		September 30, 2008 figures are estimated. Based on an interim decision by the banking agencies on December 14, 2006, Huntington has excluded the impact of adopting Statement 158 from the regulatory capital calculations.

⁽⁵⁾		Includes Private Financial Group offices.

Huntington Bancshares Incorporated
Consolidated Year to Date Average Balance Sheets

(Unaudited)


	YTD Average Balances
Fully taxable equivalent basis	Nine Months Ended September 30,						Change
(in millions)	2008			2007			Amount			Percent
Assets
Interest bearing deposits in banks	$	290		$	187		$	103			55.1	%
Trading account securities		1,139			480			659			N.M.
Federal funds sold and securities purchased under resale agreements		565			545			20			3.7
Loans held for sale		446			318			128			40.3
Investment securities:
Taxable		3,908			3,601			307			8.5
Tax-exempt		711			632			79			12.5

Total investment securities		4,619			4,233			386			9.1
Loans and leases:⁽¹⁾
Commercial:
Commercial and industrial		13,535			9,748			3,787			38.8
Commercial real estate:
Construction		2,047			1,412			635			45.0
Commercial		7,521			4,639			2,882			62.1

Commercial real estate		9,568			6,051			3,517			58.1

Total commercial		23,103			15,799			7,304			46.2

Consumer:
Automobile loans		3,601			2,492			1,109			44.5
Automobile leases		924			1,556			(632	)		(40.6	)

Automobile loans and leases		4,525			4,048			477			11.8
Home equity		7,364			5,794			1,570			27.1
Residential mortgage		5,113			4,771			342			7.2
Other loans		695			461			234			50.8

Total consumer		17,697			15,074			2,623			17.4

Total loans and leases		40,800			30,873			9,927			32.2
Allowance for loan and lease losses		(672	)		(351	)		(321	)		(91.5	)

Net loans and leases		40,128			30,522			9,606			31.5

Total earning assets		47,859			36,636			11,223			30.6

Cash and due from banks		968			925			43			4.6
Intangible assets		3,454			1,540			1,914			N.M.
All other assets		3,419			2,670			749			28.1

Total Assets	$	55,028		$	41,420		$	13,608			32.9	%


Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — non-interest bearing	$	5,058		$	4,175		$	883			21.1	%
Demand deposits — interest bearing		4,008			2,859			1,149			40.2
Money market deposits		6,292			5,946			346			5.8
Savings and other domestic deposits		4,987			3,660			1,327			36.3
Core certificates of deposit		11,210			7,183			4,027			56.1

Total core deposits		31,555			23,823			7,732			32.5
Other domestic deposits of $100,000 or more		2,042			1,266			776			61.3
Brokered deposits and negotiable CDs		3,309			3,146			163			5.2
Deposits in foreign offices		1,015			605			410			67.8

Total deposits		37,921			28,840			9,081			31.5
Short-term borrowings		2,584			2,163			421			19.5
Federal Home Loan Bank advances		3,312			1,675			1,637			97.7
Subordinated notes and other long-term debt		4,043			3,624			419			11.6

Total interest bearing liabilities		42,802			32,127			10,675			33.2

All other liabilities		983			1,018			(35	)		(3.4	)
Shareholders’ equity		6,185			4,100			2,085			50.9

Total Liabilities and Shareholders’ Equity	$	55,028		$	41,420		$	13,608			32.9	%


N.M., not a meaningful value.

⁽¹⁾		For purposes of this analysis, nonaccrual loans are reflected in the average balances of loans.

Huntington Bancshares Incorporated
Consolidated Year to Date Net Interest Margin Analysis

(Unaudited)


	YTD Average Rates⁽²⁾
	Nine Months Ended September 30,
Fully Taxable Equivalent basis ⁽¹⁾	2008			2007

Assets
Interest bearing deposits in banks		2.96	%		4.93	%
Trading account securities		5.26			5.94
Federal funds sold and securities purchased under resale agreements		2.52			5.26
Loans held for sale		5.86			5.61
Investment securities:
Taxable		5.58			6.11
Tax-exempt		6.77			6.71

Total investment securities		5.76			6.20
Loans and leases ⁽³⁾:
Commercial:
Commercial and industrial		5.79			7.52
Commercial real estate:
Construction		5.14			7.88
Commercial		5.68			7.56

Commercial real estate		5.56			7.64

Total commercial		5.68			7.57

Consumer:
Automobile loans		7.16			7.11
Automobile leases		5.60			5.38

Automobile loans and leases		6.85			6.44
Home equity		6.60			7.72
Residential mortgage		5.83			5.76
Other loans		10.05			10.88

Total consumer		6.58			6.85

Total loans and leases		6.08			7.22

Total earning assets		6.01	%		7.08	%


Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — non-interest bearing		—	%		—	%
Demand deposits — interest bearing		0.62			1.36
Money market deposits		2.11			4.00
Savings and other domestic deposits		1.95			2.02
Core certificates of deposit		4.36			4.86

Total core deposits		2.80			3.56
Other domestic deposits of $100,000 or more		3.87			5.14
Brokered deposits and negotiable CDs		3.75			5.48
Deposits in foreign offices		1.75			3.16

Total deposits		2.93			3.88
Short-term borrowings		1.99			4.29
Federal Home Loan Bank advances		3.30			4.97
Subordinated notes and other long-term debt		4.52			5.96

Total interest bearing liabilities		3.05			4.20


Net interest rate spread		2.96			2.88
Impact of non-interest bearing funds on margin		0.31			0.52

Net interest margin		3.27	%		3.40	%


⁽¹⁾		Fully taxable equivalent (FTE) yields are calculated assuming a 35% tax rate. See page 15 for the FTE adjustment.

⁽²⁾		Loan and lease and deposit average rates include impact of applicable derivatives and non-deferrable fees.

⁽³⁾		For purposes of this analysis, nonaccrual loans are reflected in the average balances of loans.

Huntington Bancshares Incorporated
Selected Year to Date Income Statement Data ⁽¹⁾

(Unaudited)


	Nine Months Ended September 30,						Change
(in thousands, except per share amounts)	2008			2007			Amount			Percent

Interest income	$	2,135,814		$	1,928,565		$	207,249			10.7	%
Interest expense		980,488			1,009,986			(29,498	)		(2.9	)

Net interest income		1,155,326			918,579			236,747			25.8
Provision for credit losses		334,855			131,546			203,309			N.M.

Net interest income after provision for credit losses		820,471			787,033			33,438			4.2

Service charges on deposit accounts		232,806			172,917			59,889			34.6
Trust services		98,169			86,220			11,949			13.9
Brokerage and insurance income		106,563			62,087			44,476			71.6
Other service charges and fees		67,429			49,176			18,253			37.1
Bank owned life insurance income		41,199			36,602			4,597			12.6
Mortgage banking income		15,741			26,102			(10,361	)		(39.7	)
Securities losses		(11,655	)		(18,187	)		6,532			(35.9	)
Other income ⁽²⁾		148,420			91,127			57,293			62.9

Total non-interest income		698,672			506,044			192,628			38.1

Personnel costs		586,761			471,978			114,783			24.3
Outside data processing and other services		96,933			88,115			8,818			10.0
Net occupancy		85,429			72,659			12,770			17.6
Equipment		71,636			58,666			12,970			22.1
Amortization of intangibles		57,707			24,988			32,719			N.M.
Marketing		23,307			29,868			(6,561	)		(22.0	)
Professional services		36,247			25,856			10,391			40.2
Telecommunications		19,116			15,989			3,127			19.6
Printing and supplies		14,695			11,657			3,038			26.1
Other expense ⁽²⁾		95,449			72,514			22,935			31.6

Total non-interest expense		1,087,280			872,290			214,990			24.6

Income before income taxes		431,863			420,787			11,076			2.6
Provision for income taxes		88,240			106,338			(18,098	)		(17.0	)

Net income	$	343,623		$	314,449		$	29,174			9.3	%


Dividends declared on preferred shares		23,242		$	—			23,242			—


Net income applicable to common shares	$	320,381		$	314,449		$	5,932			1.9	%


Average common shares — basic		366,188			279,171			87,017			31.2	%
Average common shares — diluted ⁽³⁾		396,457			282,014			114,443			40.6

Per common share
Net income per common share — basic	$	0.87		$	1.13		$	(0.26	)		(23.0	)%
Net income per common share — diluted		0.87			1.12			(0.25	)		(22.3	)
Cash dividends declared		0.530			0.795			(0.265	)		(33.3	)

Return on average total assets		0.83	%		1.02	%		(0.19	)%		(18.6	)%
Return on average total shareholders’ equity		7.4			10.3			(2.9	)		(28.2	)
Return on average tangible shareholders’ equity ⁽⁴⁾		17.7			16.8			0.9			5.4
Net interest margin ⁽⁵⁾		3.27			3.40			(0.13	)		(3.8	)
Efficiency ratio ⁽⁶⁾		54.7			58.2			(3.5	)		(6.0	)
Effective tax rate		20.4			25.3			(4.9	)		(19.4	)

Revenue — fully taxable equivalent (FTE)
Net interest income	$	1,155,326		$	918,579		$	236,747			25.8	%
FTE adjustment ⁽⁵⁾		16,577			13,886			2,691			19.4

Net interest income		1,171,903			932,465			239,438			25.7
Non-interest income		698,672			506,044			192,628			38.1

Total revenue	$	1,870,575		$	1,438,509		$	432,066			30.0	%


N.M., not a meaningful value.

⁽¹⁾		Comparisons for presented periods are impacted by a number of factors. Refer to the “Significant Items Influencing Financial Performance Comparisons”.

⁽²⁾		Automobile operating lease income and expense is included in ‘Other Income’ and ‘Other Expense’, respectively.

⁽³⁾		For the nine months ended September 30, 2008, the impact of the convertible preferred stock issued in April of 2008 was included in the diluted share calculation. It was included because the result was less than basic earnings per share (dilutive) on a year-to-date basis.

⁽⁴⁾		Net income excluding expense for amortization of intangibles for the period divided by average tangible shareholders’ equity. Average tangible shareholders’ equity equals average total shareholders’ equity less average intangible assets and goodwill. Expense for amortization of intangibles and average intangible assets are net of deferred tax liability, and calculated assuming a 35% tax rate.

⁽⁵⁾		On a fully taxable equivalent (FTE) basis assuming a 35% tax rate.

⁽⁶⁾		Non-interest expense less amortization of intangibles divided by the sum of FTE net interest income and non-interest income excluding securities losses.

Huntington Bancshares Incorporated
Year to Date Mortgage Banking Income

(Unaudited)


	Nine Months Ended September 30,						Change
(in thousands, except as noted)	2008			2007			Amount			Percent

Mortgage Banking Income
Origination and secondary marketing	$	30,077		$	20,086		$	9,991			49.7	%
Servicing fees		33,898			24,607			9,291			37.8
Amortization of capitalized servicing⁽¹⁾		(20,172	)		(14,658	)		(5,514	)		(37.6	)
Other mortgage banking income		13,809			9,085			4,724			52.0

Sub-total		57,612			39,120			18,492			47.3
MSR valuation adjustment ⁽¹⁾		10,687			5,114			5,573			N.M.
Net trading losses related to MSR hedging		(52,558	)		(18,132	)		(34,426	)		N.M.

Total mortgage banking income	$	15,741		$	26,102		$	(10,361	)		(39.7	)%


Capitalized mortgage servicing rights⁽²⁾	$	230,398		$	228,933		$	1,465			0.6	%
Total mortgages serviced for others (in millions)⁽²⁾		15,741			15,073			668			4.4
MSR % of investor servicing portfolio		1.46	%		1.52	%		(0.06	)%		(3.9	)


Net Impact of MSR Hedging
MSR valuation adjustment⁽¹⁾	$	10,687		$	5,114		$	5,573			N.M.	%
Net trading losses related to MSR hedging		(52,558	)		(18,132	)		(34,426	)		N.M.
Net interest income related to MSR hedging		23,666			2,605			21,061			N.M.

Net impact of MSR hedging	$	(18,205	)	$	(10,413	)	$	(7,792	)		74.8	%


N.M., not a meaningful value.

⁽¹⁾		The change in fair value for the period represents the MSR valuation adjustment, net of amortization of capitalized servicing.

⁽²⁾		At period end.

Huntington Bancshares Incorporated
Year to Date Credit Reserves Analysis

(Unaudited)


	Nine Months Ended September 30,
(in thousands)	2008			2007


Allowance for loan and lease losses, beginning of period	$	578,442		$	272,068

Acquired allowance for loan and lease losses		—			188,128
Loan and lease losses		(235,276	)		(129,437	)
Recoveries of loans previously charged off		37,829			29,713

Net loan and lease losses		(197,447	)		(99,724	)

Provision for loan and lease losses		339,743			125,021
Allowance for loans transferred to held-for-sale		—			(30,709	)

Allowance for loan and lease losses, end of period	$	720,738		$	454,784


Allowance for unfunded loan commitments and letters of credit, beginning of period	$	66,527		$	40,161
Acquired AULC		—			11,541
(Reduction in) provision for unfunded loan commitments and letters of credit losses		(4,888	)		6,525

Allowance for unfunded loan commitments and letters of credit, end of period	$	61,639		$	58,227


Total allowances for credit losses	$	782,377		$	513,011


Allowance for loan and lease losses (ALLL) as % of:
Transaction reserve		1.54	%		0.97	%
Economic reserve		0.21			0.17

Total loans and leases		1.75	%		1.14	%

Nonaccrual loans and leases (NALs)		123			182

Total allowances for credit losses (ACL) as % of:
Total loans and leases		1.90	%		1.28	%
Nonaccrual loans and leases		134			206

Huntington Bancshares Incorporated
Year to Date Net Charge-Off Analysis

(Unaudited)


	Nine Months Ended September 30,
(in thousands)	2008			2007

Net charge-offs by loan and lease type:
Commercial:
Commercial and industrial	$	52,739		$	21,935
Commercial real estate:
Construction		4,236			5,054
Commercial		26,123			13,314

Commercial real estate		30,359			18,368

Total commercial		83,098			40,303

Consumer:
Automobile loans		26,343			9,838
Automobile leases		9,671			7,461

Automobile loans and leases		36,014			17,299
Home equity		48,388			22,214
Residential mortgage		13,919			8,031
Other loans		16,028			11,877

Total consumer		114,349			59,421


Total net charge-offs	$	197,447		$	99,724


Net charge-offs — annualized percentages:
Commercial:
Commercial and industrial		0.52	%		0.30	%
Commercial real estate:
Construction		0.28			0.48
Commercial		0.46			0.38

Commercial real estate		0.42			0.40

Total commercial		0.48			0.34

Consumer:
Automobile loans		0.98			0.53
Automobile leases		1.40			0.64

Automobile loans and leases		1.06			0.57
Home equity		0.88			0.51
Residential mortgage		0.36			0.22
Other loans		3.07			3.44

Total consumer		0.86			0.53


Net charge-offs as a % of average loans		0.65	%		0.43	%

Huntington Bancshares Incorporated
Year to Date Nonaccrual Loans (NALs), Nonperforming Assets
(NPAs) and Past Due Loans and Leases

(Unaudited)


	Nine Months Ended September 30,
(in thousands)	2008			2007


Nonaccrual loans and leases:
Middle market commercial and industrial	$	174,207		$	82,960
Middle market commercial real estate		298,844			95,587
Residential mortgage		85,163			47,738
Home equity		27,727			23,111

Total nonaccrual loans and leases		585,941			249,396
Restructured loans ⁽¹⁾		364,939			—
Other real estate, net:
Residential		59,302			49,555
Commercial		14,176			19,310

Total other real estate, net		73,478			68,865
Impaired loans held for sale ⁽²⁾		13,503			100,485
Other NPAs ⁽³⁾		2,397			16,296


Total nonperforming assets	$	1,040,258		$	435,042


Nonperforming loans and leases as a % of total loans and leases		1.42	%		0.62	%

NPA ratio ⁽⁴⁾		2.52			1.08

Accruing loans and leases past due 90 days or more	$	191,518		$	115,607

Accruing loans and leases past due 90 days or more as a percent of total loans and leases		0.46	%		0.29	%


	Nine Months Ended September 30,
(in thousands)	2008			2007


Nonperforming assets, beginning of period	$	1,660,270		$	193,620
New nonperforming assets		572,743			256,922
Restructured loans ⁽¹⁾		(762,033	)		—
Acquired nonperforming assets		—			144,492
Returns to accruing status		(28,405	)		(19,679	)
Loan and lease losses		(121,496	)		(64,252	)
Payments		(188,552	)		(55,337	)
Sales		(92,269	)		(20,724	)


Non-performing assets, end of period	$	1,040,258		$	435,042


⁽¹⁾		Restructured loans represent loans to Franklin Credit Management Corporation (Franklin) that were restructured during the 2007 fourth quarter, and the subsequent removal of the Franklin Tranche A loans from nonperforming status during the 2008 second quarter.

⁽²⁾		Represent impaired loans obtained from the Sky acquisition. Held for sale loans are carried at the lower of cost or fair value less costs to sell.

⁽³⁾		Other NPAs represent certain investment securities backed by mortgage loans to borrowers with lower FICO scores.

⁽⁴⁾		Nonperforming assets divided by the sum of loans and leases, impaired loans held for sale, net other real estate, and other NPAs.