EX-99.2

Exhibit 99.2

HUNTINGTON BANCSHARES INCORPORATED
Quarterly Financial Review
December 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 Annual Average Balance Sheets			13

Consolidated Annual Net Interest Margin Analysis			14

Selected Annual Income Statement Data			15

Annual Mortgage Banking Income			16

Annual Credit Reserves Analysis			17

Annual Net Charge-Off Analysis			18

Annual 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


										Change
	2008						2007			December ‘08 vs ‘07
(in thousands, except number of shares)	December 31,			September 30,			December 31,			Amount			Percent
	*(Unaudited)*			(Unaudited)
Assets
Cash and due from banks	$	806,693		$	901,239		$	1,416,597		$	(609,904	)		(43.1	)%
Federal funds sold and securities purchased under resale agreements		37,975			269,519			592,649			(554,674	)		(93.6	)
Interest bearing deposits in banks		292,561			298,297			340,090			(47,529	)		(14.0	)
Trading account securities		88,677			998,249			1,032,745			(944,068	)		(91.4	)
Loans held for sale		390,438			286,751			494,379			(103,941	)		(21.0	)
Investment securities		4,384,457			4,565,064			4,500,171			(115,714	)		(2.6	)
Loans and leases ⁽¹⁾		41,092,165			41,191,723			40,054,338			1,037,827			2.6
Allowance for loan and lease losses		(900,227	)		(720,738	)		(578,442	)		(321,785	)		55.6

Net loans and leases		40,191,938			40,470,985			39,475,896			716,042			1.8

Bank owned life insurance		1,364,466			1,353,400			1,313,281			51,185			3.9
Premises and equipment		519,500			527,798			557,565			(38,065	)		(6.8	)
Goodwill		3,054,985			3,056,386			3,059,333			(4,348	)		(0.1	)
Other intangible assets		356,703			375,914			427,970			(71,267	)		(16.7	)
Accrued income and other assets		2,823,209			1,556,987			1,486,792			1,336,417			89.9

Total Assets	$	54,311,602		$	54,660,589		$	54,697,468		$	(385,866	)		(0.7	)%


Liabilities and Shareholders’ Equity Liabilities
Deposits ⁽²⁾	$	37,943,200		$	37,569,056		$	37,742,921		$	200,279			0.5	%
Short-term borrowings		1,309,157			1,974,368			2,843,638			(1,534,481	)		(54.0	)
Federal Home Loan Bank advances		2,588,976			3,483,001			3,083,555			(494,579	)		(16.0	)
Other long-term debt		2,330,763			2,497,002			1,937,078			393,685			20.3
Subordinated notes		1,939,052			1,864,728			1,934,276			4,776			0.2
Accrued expenses and other liabilities		1,003,663			898,528			1,206,860			(203,197	)		(16.8	)

Total Liabilities		47,114,811			48,286,683			48,748,328			(1,633,517	)		(3.4	)


Shareholders’ equity
Preferred stock — authorized 6,617,808 shares-

5.00% Series B Non-voting, Cumulative Preferred Stock, par value of $0.01 and liquidation value per share of $1,000; 1,398,071 shares issued and outstanding		1,308,667			—			—			1,308,667			—

8.50% Series A Non-cumulative Perpetual Convertible Preferred Stock, par value and liquidiation value per share of $1,000; 569,000 shares issued and outstanding.		569,000			569,000			—			569,000			—

Common stock -
Par value of $0.01 and authorized 1,000,000,000 shares; issued 366,972,250, 366,970,661, and 367,000,815 shares, respectively; outstanding 366,057,669, 366,068,762, and 366,261,676 shares respectively.		3,670			3,670			3,670			—			—
Capital surplus		5,322,428			5,228,381			5,237,783			84,645			1.6
Less 914,581, 901,899 and 739,139 treasury shares at cost, respectively		(15,530	)		(15,501	)		(14,391	)		(1,139	)		7.9
Accumulated other comprehensive loss		(357,043	)		(266,677	)		(49,611	)		(307,432	)		N.M.
Retained earnings		365,599			855,033			771,689			(406,090	)		(52.6	)

Total Shareholders’ Equity		7,196,791			6,373,906			5,949,140			1,247,651			21.0

Total Liabilities and Shareholders’ Equity	$	54,311,602		$	54,660,589		$	54,697,468		$	(385,866	)		(0.7	)%

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
Loans and Leases Composition


													Change
	2008								2007				December ‘08 vs ‘07
(in thousands)	December 31,				September 30,				December 31,				Amount			Percent
	*(Unaudited)*				(Unaudited)
By Type
Commercial:
Commercial and industrial	$	13,540,841	33.0	%	$	13,638,066	33.1	%	$	13,125,565	32.8	%	$	415,276			3.2	%
Commercial real estate:
Construction		2,080,328	5.1			2,111,027	5.1			1,961,839	4.9			118,489			6.0
Commercial		8,017,882	19.5			7,796,133	18.9			7,221,213	18.0			796,669			11.0

Commercial real estate		10,098,210	24.6			9,907,160	24.0			9,183,052	22.9			915,158			10.0

Total commercial		23,639,051	57.6			23,545,226	57.1			22,308,617	55.7			1,330,434			6.0

Consumer:
Automobile loans		3,900,893	9.5			3,917,576	9.5			3,114,029	7.8			786,864			25.3
Automobile leases		563,417	1.4			698,450	1.7			1,179,505	2.9			(616,088	)		(52.2	)
Home equity		7,556,428	18.4			7,496,875	18.2			7,290,063	18.2			266,365			3.7
Residential mortgage		4,761,384	11.6			4,854,260	11.8			5,447,126	13.6			(685,742	)		(12.6	)
Other loans		670,992	1.5			679,336	1.7			714,998	1.8			(44,006	)		(6.2	)

Total consumer		17,453,114	42.4			17,646,497	42.9			17,745,721	44.3			(292,607	)		(1.6	)

Total loans and leases	$	41,092,165	100.0		$	41,191,723	100.0		$	40,054,338	100.0		$	1,037,827			2.6


By Business Segment
Regional Banking:
Central Ohio	$	5,337,814	13.0	%	$	5,223,789	12.7	%	$	5,149,503	12.9	%	$	188,311			3.7	%
Northwest Ohio		2,122,673	5.2			2,179,160	5.3			2,280,648	5.7			(157,975	)		(6.9	)
Greater Cleveland		3,308,503	8.1			3,301,249	8.0			3,104,336	7.8			204,167			6.6
Greater Akron/Canton		2,627,732	6.4			2,598,991	6.3			2,477,467	6.2			150,265			6.1
Southern Ohio/Kentucky		3,150,179	7.7			3,021,163	7.3			2,668,073	6.7			482,106			18.1
Mahoning Valley		1,243,997	3.0			1,240,950	3.0			1,274,608	3.2			(30,611	)		(2.4	)
West Michigan		2,679,929	6.5			2,624,581	6.4			2,478,683	6.2			201,246			8.1
East Michigan		1,800,472	4.4			1,818,433	4.4			1,747,914	4.4			52,558			3.0
Pittsburgh		1,941,733	4.7			2,003,051	4.9			1,859,401	4.6			82,332			4.4
Central Indiana		1,562,470	3.8			1,585,247	3.8			1,421,401	3.5			141,069			9.9
West Virginia		1,325,169	3.2			1,221,503	3.0			1,155,719	2.9			169,450			14.7
Other Regional		4,774,381	11.6			4,771,863	11.6			5,061,767	12.5			(287,386	)		(5.7	)

Regional Banking		31,875,052	77.6			31,589,980	76.7			30,679,520	76.6			1,195,532			3.9
Auto Finance and Dealer Services		5,955,887	14.5			5,900,223	14.3			5,632,545	14.1			323,342			5.7
Private Financial, Capital Markets, and Insurance Group		2,611,001	6.3			2,606,956	6.3			2,553,872	6.3			57,129			2.2
Treasury / Other		650,225	1.6			1,094,564	2.7			1,188,401	3.0			(538,176	)		(45.3	)

Total loans and leases	$	41,092,165	100.0	%	$	41,191,723	100.0	%	$	40,054,338	100.0	%	$	1,037,827			2.6	%

Huntington Bancshares Incorporated
Deposit Composition


													Change
	2008								2007				December ‘08 vs ‘07
(in thousands)	December 31,				September 30,				December 31,				Amount			Percent
	*(Unaudited)*				(Unaudited)

By Type
Demand deposits — non-interest bearing	$	5,477,439	14.4	%	$	5,135,164	13.7	%	$	5,371,747	14.2	%	$	105,692			2.0	%
Demand deposits — interest bearing		4,082,701	10.8			4,052,032	10.8			4,048,873	10.7			33,828			0.8
Money market deposits		5,182,360	13.7			5,565,439	14.8			6,643,242	17.6			(1,460,882	)		(22.0	)
Savings and other domestic deposits		4,845,506	12.8			4,816,038	12.8			4,968,615	13.2			(123,109	)		(2.5	)
Core certificates of deposit		12,726,738	33.5			12,156,660	32.4			10,736,146	28.4			1,990,592			18.5

Total core deposits		32,314,744	85.2			31,725,333	84.5			31,768,623	84.1			546,121			1.7
Other domestic deposits of $100,000 or more		1,540,990	4.1			1,948,899	5.2			1,870,730	5.0			(329,740	)		(17.6	)
Brokered deposits and negotiable CDs		3,354,461	8.8			2,925,440	7.8			3,376,854	8.9			(22,393	)		(0.7	)
Deposits in foreign offices		733,005	1.9			969,384	2.5			726,714	2.0			6,291			0.9


Total deposits	$	37,943,200	100.0	%	$	37,569,056	100.0	%	$	37,742,921	100.0	%	$	200,279			0.5	%


Total core deposits:
Commercial	$	7,757,803	24.0	%	$	8,007,619	25.2	%	$	9,017,852	28.4	%	$	(1,260,049	)		(14.0)	%
Personal		24,556,941	76.0			23,717,714	74.8			22,750,771	71.6			1,806,170			7.9


Total core deposits	$	32,314,744	100.0	%	$	31,725,333	100.0	%	$	31,768,623	100.0	%	$	546,121			1.7	%


By Business Segment
Regional Banking:
Central Ohio	$	6,192,393	16.3	%	$	6,136,030	16.3	%	$	6,319,899	16.7	%	$	(127,506	)		(2.0)	%
Northwest Ohio		2,602,003	6.9			2,690,720	7.2			2,836,309	7.5			(234,306	)		(8.3	)
Greater Cleveland		3,170,350	8.4			3,248,385	8.6			3,201,791	8.5			(31,441	)		(1.0	)
Greater Akron/Canton		3,209,756	8.5			3,270,480	8.7			3,188,682	8.4			21,074			0.7
Southern Ohio/Kentucky		2,664,542	7.0			2,643,955	7.0			2,628,879	7.0			35,663			1.4
Mahoning Valley		2,268,922	6.0			2,263,719	6.0			2,333,794	6.2			(64,872	)		(2.8	)
West Michigan		2,933,489	7.7			3,021,528	8.0			2,918,709	7.7			14,780			0.5
East Michigan		2,659,385	7.0			2,663,131	7.1			2,444,269	6.5			215,116			8.8
Pittsburgh		2,652,212	7.0			2,749,254	7.3			2,536,007	6.7			116,205			4.6
Central Indiana		1,868,730	4.9			1,902,232	5.1			1,894,940	5.0			(26,210	)		(1.4	)
West Virginia		1,817,741	4.8			1,723,002	4.6			1,589,520	4.2			228,221			14.4
Other Regional		834,282	2.2			677,616	1.8			732,586	1.9			101,696			13.9

Regional Banking		32,873,805	86.6			32,990,052	87.8			32,625,385	86.4			248,420			0.8
Auto Finance and Dealer Services		66,595	0.2			67,040	0.2			59,783	0.2			6,812			11.4
Private Financial, Capital Markets, and Insurance Group		1,784,747	4.7			1,552,611	4.1			1,638,552	4.3			146,195			8.9
Treasury / Other⁽¹⁾		3,218,053	8.5			2,959,353	7.9			3,419,201	9.1			(201,148	)		(5.9	)


Total deposits	$	37,943,200	100.0	%	$	37,569,056	100.0	%	$	37,742,921	100.0	%	$	200,279			0.5	%


⁽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			4Q08 vs 4Q07
(in millions)	Fourth			Third			Second			First			Fourth			Amount			Percent

Assets
Interest bearing deposits in banks	$	343		$	321		$	256		$	293		$	324		$	19			5.9	%
Trading account securities		940			992			1,243			1,186			1,122			(182	)		(16.2	)
Federal funds sold and securities purchased under resale agreements		48			363			566			769			730			(682	)		(93.4	)
Loans held for sale		329			274			501			565			493			(164	)		(33.3	)
Investment securities:
Taxable		3,789			3,975			3,971			3,774			3,807			(18	)		(0.5	)
Tax-exempt		689			712			717			703			689			—			—

Total investment securities		4,478			4,687			4,688			4,477			4,496			(18	)		(0.4	)
Loans and leases:⁽¹⁾
Commercial:
Commercial and industrial		13,746			13,629			13,631			13,343			13,270			476			3.6
Commercial real estate:
Construction		2,103			2,090			2,038			2,014			1,892			211			11.2
Commercial		8,115			7,726			7,563			7,273			7,161			954			13.3

Commercial real estate		10,218			9,816			9,601			9,287			9,053			1,165			12.9

Total commercial		23,964			23,445			23,232			22,630			22,323			1,641			7.4

Consumer:
Automobile loans		3,899			3,856			3,636			3,309			3,052			847			27.8
Automobile leases		636			768			915			1,090			1,272			(636	)		(50.0	)

Automobile loans and leases		4,535			4,624			4,551			4,399			4,324			211			4.9
Home equity		7,523			7,453			7,365			7,274			7,297			226			3.1
Residential mortgage		4,737			4,812			5,178			5,351			5,437			(700	)		(12.9	)
Other loans		678			670			699			713			728			(50	)		(6.9	)

Total consumer		17,473			17,559			17,793			17,737			17,786			(313	)		(1.8	)

Total loans and leases		41,437			41,004			41,025			40,367			40,109			1,328			3.3
Allowance for loan and lease losses		(764	)		(731	)		(654	)		(630	)		(474	)		(290	)		(61.2	)

Net loans and leases		40,673			40,273			40,371			39,737			39,635			1,038			2.6

Total earning assets		47,575			47,641			48,279			47,657			47,274			301			0.6

Cash and due from banks		928			925			943			1,036			1,098			(170	)		(15.5	)
Intangible assets		3,421			3,441			3,449			3,472			3,440			(19	)		(0.6	)
All other assets		3,447			3,384			3,522			3,350			3,142			305			9.7

Total Assets	$	54,607		$	54,660		$	55,539		$	54,885		$	54,480		$	127			0.2	%


Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — non-interest bearing	$	5,205		$	5,080		$	5,061		$	5,034		$	5,218		$	(13	)		(0.2)	%
Demand deposits — interest bearing		3,988			4,005			4,086			3,934			3,929			59			1.5
Money market deposits		5,500			5,860			6,267			6,753			6,845			(1,345	)		(19.6	)
Savings and other domestic deposits		4,837			4,911			5,047			5,004			5,012			(175	)		(3.5	)
Core certificates of deposit		12,468			11,883			10,950			10,790			10,666			1,802			16.9

Total core deposits		31,998			31,739			31,411			31,515			31,670			328			1.0
Other domestic deposits of $100,000 or more		1,682			1,991			2,145			1,989			1,739			(57	)		(3.3	)
Brokered deposits and negotiable CDs		3,049			3,025			3,361			3,542			3,518			(469	)		(13.3	)
Deposits in foreign offices		854			1,048			1,110			885			748			106			14.2

Total deposits		37,583			37,803			38,027			37,931			37,675			(92	)		(0.2	)
Short-term borrowings		1,748			2,131			2,854			2,772			2,489			(741	)		(29.8	)
Federal Home Loan Bank advances		3,188			3,139			3,412			3,389			3,070			118			3.8
Subordinated notes and other long-term debt		4,252			4,382			3,928			3,814			3,875			377			9.7

Total interest bearing liabilities		41,566			42,375			43,160			42,872			41,891			(325	)		(0.8	)

All other liabilities		818			884			963			1,104			1,160			(342	)		(29.5	)
Shareholders’ equity		7,018			6,321			6,355			5,875			6,211			807			13.0

Total Liabilities and Shareholders’ Equity	$	54,607		$	54,660		$	55,539		$	54,885		$	54,480		$	127			0.2	%


⁽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⁾	Fourth			Third			Second			First			Fourth

Assets
Interest bearing deposits in banks		1.44	%		2.17	%		2.77	%		3.97	%		4.30	%
Trading account securities		5.32			5.45			5.13			5.27			5.72
Federal funds sold and securities purchased under resale agreements		0.24			2.02			2.08			3.07			4.59
Loans held for sale		6.58			6.54			5.98			5.41			5.86
Investment securities:
Taxable		5.74			5.54			5.50			5.71			5.98
Tax-exempt		7.02			6.80			6.77			6.75			6.74

Total investment securities		5.94			5.73			5.69			5.88			6.10
Loans and leases:⁽³⁾
Commercial:
Commercial and industrial		5.01			5.46			5.53			6.32			6.92
Commercial real estate:
Construction		4.55			4.69			4.81			5.86			7.24
Commercial		5.07			5.33			5.47			6.27			7.09

Commercial real estate		4.96			5.19			5.32			6.18			7.12

Total commercial		4.99			5.35			5.45			6.27			7.00

Consumer:
Automobile loans		7.17			7.13			7.12			7.25			7.31
Automobile leases		5.82			5.70			5.59			5.53			5.52

Automobile loans and leases		6.98			6.89			6.81			6.82			6.78
Home equity		5.87			6.19			6.43			7.21			7.81
Residential mortgage		5.84			5.83			5.78			5.86			5.88
Other loans		9.25			9.71			9.98			10.43			10.91

Total consumer		6.28			6.41			6.48			6.84			7.10

Total loans and leases		5.53			5.80			5.89			6.51			7.05

Total earning assets		5.57	%		5.77	%		5.85	%		6.40	%		6.88	%


Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — non-interest bearing		—	%		—	%		—	%		—	%		—	%
Demand deposits — interest bearing		0.34			0.51			0.55			0.82			1.14
Money market deposits		1.31			1.66			1.76			2.83			3.67
Savings and other domestic deposits		1.66			1.74			1.83			2.27			2.54
Core certificates of deposit		4.02			4.05			4.37			4.68			4.83

Total core deposits		2.49			2.57			2.67			3.18			3.55
Other domestic deposits of $100,000 or more		3.38			3.47			3.77			4.38			5.00
Brokered deposits and negotiable CDs		3.39			3.37			3.38			4.43			5.24
Deposits in foreign offices		0.90			1.49			1.66			2.16			3.27

Total deposits		2.58			2.66			2.78			3.36			3.80
Short-term borrowings		0.85			1.42			1.66			2.78			3.74
Federal Home Loan Bank advances		3.04			2.92			3.01			3.94			5.03
Subordinated notes and other long-term debt		4.49			4.29			4.21			5.12			5.93

Total interest bearing liabilities		2.74	%		2.79	%		2.85	%		3.53	%		4.09	%


Net interest rate spread		2.83	%		2.98	%		3.00	%		2.87	%		2.79	%
Impact of non-interest bearing funds on margin		0.35			0.31			0.29			0.36			0.47

Net interest margin		3.18	%		3.29	%		3.29	%		3.23	%		3.26	%


⁽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		4Q08 vs 4Q07
(in millions)	Fourth		Third		Second		First		Fourth		Amount			Percent

Loans and direct financing leases⁽¹⁾
Regional Banking:
Central Ohio	$	5,368	$	5,202	$	5,199	$	5,099	$	5,040	$	328			6.5	%
Northwest Ohio		2,152		2,209		2,251		2,295		2,301		(149	)		(6.5	)
Greater Cleveland		3,304		3,274		3,241		3,148		3,085		219			7.1
Greater Akron/Canton		2,629		2,592		2,586		2,516		2,488		141			5.7
Southern Ohio/Kentucky		3,093		2,999		2,925		2,782		2,584		509			19.7
Mahoning Valley		1,227		1,224		1,268		1,266		1,279		(52	)		(4.1	)
West Michigan		2,708		2,633		2,572		2,508		2,472		236			9.5
East Michigan		1,812		1,819		1,792		1,734		1,761		51			2.9
Pittsburgh		1,975		1,983		1,932		1,902		1,856		119			6.4
Central Indiana		1,585		1,545		1,527		1,463		1,397		188			13.5
West Virginia		1,284		1,198		1,199		1,160		1,135		149			13.1
Other Regional		4,666		4,669		4,908		5,089		5,048		(382	)		(7.6	)

Regional Banking		31,803		31,347		31,400		30,962		30,446		1,357			4.5
Auto Finance and Dealer Services		5,909		5,928		5,877		5,720		5,587		322			5.8
Private Financial, Capital Markets, and Insurance Group		2,629		2,600		2,594		2,553		2,496		133			5.3
Treasury / Other		1,096		1,129		1,154		1,132		1,580		(484	)		(30.6	)

Total loans and direct financing leases	$	41,437	$	41,004	$	41,025	$	40,367	$	40,109	$	1,328			3.3	%


Deposit composition ⁽¹⁾
Regional Banking:
Central Ohio	$	6,160	$	6,331	$	6,596	$	6,359	$	6,158	$	2			0.0	%
Northwest Ohio		2,644		2,755		2,765		2,828		2,823		(179	)		(6.3	)
Greater Cleveland		3,136		3,272		3,317		3,189		3,097		39			1.3
Greater Akron/Canton		3,215		3,239		3,211		3,231		3,236		(21	)		(0.6	)
Southern Ohio/Kentucky		2,670		2,638		2,596		2,655		2,644		26			1.0
Mahoning Valley		2,260		2,281		2,277		2,312		2,331		(71	)		(3.0	)
West Michigan		2,931		2,981		2,906		2,904		2,923		8			0.3
East Michigan		2,657		2,612		2,458		2,420		2,406		251			10.4
Pittsburgh		2,685		2,609		2,562		2,545		2,553		132			5.2
Central Indiana		1,921		1,880		1,946		1,888		1,939		(18	)		(0.9	)
West Virginia		1,763		1,674		1,608		1,594		1,567		196			12.5
Other Regional		865		829		818		786		730		135			18.5

Regional Banking		32,907		33,101		33,060		32,711		32,407		500			1.5
Auto Finance and Dealer Services		61		62		54		54		61		—			—
Private Financial, Capital Markets, and Insurance Group		1,608		1,583		1,517		1,583		1,640		(32	)		(2.0	)
Treasury / Other		3,007		3,057		3,396		3,583		3,567		(560	)		(15.7	)

Total deposits	$	37,583	$	37,803	$	38,027	$	37,931	$	37,675	$	(92	)		(0.2	)%


⁽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			4Q08 vs 4Q07
(in thousands, except per share amounts)	Fourth			Third			Second			First			Fourth			Amount			Percent

Interest income	$	662,508		$	685,728		$	696,675		$	753,411		$	814,398		$	(151,890	)		(18.7)	%
Interest expense		286,143			297,092			306,809			376,587			431,465			(145,322	)		(33.7	)

Net interest income		376,365			388,636			389,866			376,824			382,933			(6,568	)		(1.7	)
Provision for credit losses		722,608			125,392			120,813			88,650			512,082			210,526			41.1

Net interest (loss) income after provision for credit losses		(346,243	)		263,244			269,053			288,174			(129,149	)		(217,094	)		N.M.

Service charges on deposit accounts		75,247			80,508			79,630			72,668			81,276			(6,029	)		(7.4	)
Brokerage and insurance income		31,233			34,309			35,694			36,560			30,288			945			3.1
Trust services		27,811			30,952			33,089			34,128			35,198			(7,387	)		(21.0	)
Electronic banking		22,838			23,446			23,242			20,741			21,891			947			4.3
Bank owned life insurance income		13,577			13,318			14,131			13,750			13,253			324			2.4
Automobile operating lease income		13,170			11,492			9,357			5,832			2,658			10,512			N.M.
Mortgage banking (loss) income		(6,747	)		10,302			12,502			(7,063	)		3,702			(10,449	)		N.M.
Securities (losses) gains		(127,082	)		(73,790	)		2,073			1,429			(11,551	)		(115,531	)		N.M.
Other income (loss)		17,052			37,320			26,712			57,707			(6,158	)		23,210			N.M.

Total non-interest income		67,099			167,857			236,430			235,752			170,557			(103,458	)		(60.7	)

Personnel costs		196,785			184,827			199,991			201,943			214,850			(18,065	)		(8.4	)
Outside data processing and other services		31,230			32,386			30,186			34,361			39,130			(7,900	)		(20.2	)
Net occupancy		22,999			25,215			26,971			33,243			26,714			(3,715	)		(13.9	)
Equipment		22,329			22,102			25,740			23,794			22,816			(487	)		(2.1	)
Amortization of intangibles		19,187			19,463			19,327			18,917			20,163			(976	)		(4.8	)
Professional services		17,420			13,405			13,752			9,090			14,464			2,956			20.4
Marketing		9,357			7,049			7,339			8,919			16,175			(6,818	)		(42.2	)
Automobile operating lease expense		10,483			9,093			7,200			4,506			1,918			8,565			N.M.
Telecommunications		5,892			6,007			6,864			6,245			8,513			(2,621	)		(30.8	)
Printing and supplies		4,175			4,316			4,757			5,622			6,594			(2,419	)		(36.7	)
Other expense		50,237			15,133			35,676			23,841			68,215			(17,978	)		(26.4	)

Total non-interest expense		390,094			338,996			377,803			370,481			439,552			(49,458	)		(11.3	)

(Loss) Income before income taxes		(669,238	)		92,105			127,680			153,445			(398,144	)		(271,094	)		68.1
(Benefit) Provision for income taxes		(251,949	)		17,042			26,328			26,377			(158,864	)		(93,085	)		58.6

Net (loss) income	$	(417,289	)	$	75,063		$	101,352		$	127,068		$	(239,280	)	$	(178,009	)		74.4	%


Dividends declared on preferred shares		23,158			12,091			11,151			—			—			23,158			—


Net (loss) income applicable to common shares	$	(440,447	)	$	62,972		$	90,201		$	127,068		$	(239,280	)	$	(201,167	)		84.1	%


Average common shares — basic		366,054			366,124			366,206			366,235			366,119			(65	)		(0.0)	%
Average common shares — diluted ⁽²⁾		366,054			367,361			367,234			367,208			366,119			(65	)		(0.0	)

Per common share
Net (loss) income — basic	$	(1.20	)	$	0.17		$	0.25		$	0.35		$	(0.65	)	$	(0.55	)		84.6	%
Net (loss) income — diluted		(1.20	)		0.17			0.25			0.35			(0.65	)		(0.55	)		84.6
Cash dividends declared		0.1325			0.1325			0.1325			0.2650			0.2650			(0.1325	)		(50.0	)

Return on average total assets		(3.04	)%		0.55	%		0.73	%		0.93	%		(1.74	)		(1.30)	%		74.7
Return on average total shareholders’ equity		(23.7	)		4.7			6.4			8.7			(15.3	)		(8.4	)		54.9
Return on average tangible shareholders’ equity ⁽³⁾		(43.2	)		11.6			15.0			22.0			(30.7	)		(12.50	)		40.7
Net interest margin ⁽⁴⁾		3.18			3.29			3.29			3.23			3.26			(0.08	)		(2.5	)
Efficiency ratio ⁽⁵⁾		64.6			50.3			56.9			57.0			73.5			(8.9	)		(12.1	)
Effective tax rate (benefit)		(37.6	)		18.5			20.6			17.2			(39.9	)		2.3			(5.8	)

Revenue — fully taxable equivalent (FTE)
Net interest income	$	376,365		$	388,636		$	389,866		$	376,824		$	382,933		$	(6,568	)		(1.7	)
FTE adjustment		3,641			5,451			5,624			5,502			5,363			(1,722	)		(32.1	)

Net interest income⁽⁴⁾		380,006			394,087			395,490			382,326			388,296			(8,290	)		(2.1	)
Non-interest income		67,099			167,857			236,430			235,752			170,557			(103,458	)		(60.7	)

Total revenue ⁽⁴⁾	$	447,105		$	561,944		$	631,920		$	618,078		$	558,853		$	(111,748	)		(20.0	)%


N.M., not a meaningful value.

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

⁽²⁾		For the three-month periods ended December 31, 2008, September 30, 2008, and 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⁾		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.

⁽⁴⁾		On a fully taxable equivalent (FTE) basis assuming a 35% tax rate.

⁽⁵⁾		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			4Q08 vs 4Q07
(in thousands, except as noted)	Fourth			Third			Second			First			Fourth			Amount			Percent
Mortgage Banking Income
Origination and secondary marketing	$	7,180		$	7,647		$	13,098		$	9,332		$	5,879		$	1,301			22.1	%
Servicing fees		11,660			11,838			11,166			10,894			11,405			255			2.2
Amortization of capitalized servicing⁽¹⁾		(6,462	)		(6,234	)		(7,024	)		(6,914	)		(5,929	)		(533	)		(9.0	)
Other mortgage banking income		2,959			3,519			5,959			4,331			4,113			(1,154	)		(28.1	)

Sub-total		15,337			16,770			23,199			17,643			15,468			(131	)		(0.8	)
MSR valuation adjustment ⁽¹⁾		(63,355	)		(10,251	)		39,031			(18,093	)		(21,245	)		(42,110	)		N.M.
Net trading gains (losses) related to MSR hedging		41,271			3,783			(49,728	)		(6,613	)		9,479			31,792			N.M.

Total mortgage banking (loss) income	$	(6,747	)	$	10,302		$	12,502		$	(7,063	)	$	3,702		$	(10,449	)		N.M.	%


Average trading account securities used to hedge MSRs (in millions)	$	857		$	941		$	1,190		$	1,139		$	1,073		$	(216	)		(20.1	)%
Capitalized mortgage servicing rights⁽²⁾		167,438			230,398			240,024			191,806			207,894			(40,456	)		(19.5	)
Total mortgages serviced for others (in millions)⁽²⁾		15,138			15,741			15,770			15,138			15,088			50			0.3
MSR % of investor servicing portfolio		1.11	%		1.46	%		1.52	%		1.27	%		1.38	%		(0.27	)%		(19.6	)


Net Impact of MSR Hedging
MSR valuation adjustment⁽¹⁾	$	(63,355	)	$	(10,251	)	$	39,031		$	(18,093	)	$	(21,245	)	$	(42,110	)		N.M.	%
Net trading gains (losses) related to MSR hedging		41,271			3,783			(49,728	)		(6,613	)		9,479			31,792			N.M.
Net interest income related to MSR hedging		9,473			8,368			9,364			5,934			3,192			6,281			N.M.

Net impact of MSR hedging	$	(12,611	)	$	1,900		$	(1,333	)	$	(18,772	)	$	(8,574	)	$	(4,037	)		47.1	%


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)	Fourth			Third			Second			First			Fourth
Allowance for loan and lease losses, beginning of period	$	720,738		$	679,403		$	627,615		$	578,442		$	454,784

Loan and lease losses		(571,053	)		(96,388	)		(78,084	)		(60,804	)		(388,506	)
Recoveries of loans previously charged off		10,433			12,637			12,837			12,355			10,599

Net loan and lease losses		(560,620	)		(83,751	)		(65,247	)		(48,449	)		(377,907	)

Provision for loan and lease losses		728,046			125,086			117,035			97,622			503,781
Economic reserve transfer		12,063			—			—			—			—
Allowance for loans transferred to held-for-sale		—			—			—			—			(2,216	)

Allowance for loan and lease losses, end of period	$	900,227		$	720,738		$	679,403		$	627,615		$	578,442


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

(Reduction in) Provision for unfunded loan commitments and letters of credit losses		(5,438	)		306			3,778			(8,972	)		8,301
Economic reserve transfer		(12,063	)		—			—			—			—

Allowance for unfunded loan commitments and letters of credit, end of period	$	44,139		$	61,640		$	61,334		$	57,556		$	66,528


Total allowances for credit losses	$	944,366		$	782,378		$	740,737		$	685,171		$	644,970


Allowance for loan and lease losses (ALLL) as % of:
Transaction reserve		1.91	%		1.54	%		1.45	%		1.34	%		1.27	%
Economic reserve		0.28			0.21			0.21			0.19			0.17

Total loans and leases		2.19	%		1.75	%		1.66	%		1.53	%		1.44	%

Nonaccrual loans and leases (NALs)		60			123			127			166			181
Nonperforming assets (NPAs)		55			107			109			121			122

Total allowances for credit losses (ACL) as % of:
Total loans and leases		2.30	%		1.90	%		1.80	%		1.67	%		1.61	%
Nonaccrual loans and leases		63			134			138			182			202
Nonperforming assets		58			116			119			132			136

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


	2008												2007
(in thousands)	Fourth			Third			Second			First			Fourth

Net charge-offs by loan and lease type:
Commercial:
Commercial and industrial	$	473,426	⁽¹⁾	$	29,646		$	12,361		$	10,732		$	323,905	⁽²⁾
Commercial real estate:
Construction		2,390			3,539			575			122			6,800
Commercial		35,991			7,446			14,524			4,153			13,936

Commercial real estate		38,381			10,985			15,099			4,275			20,736

Total commercial		511,807			40,631			27,460			15,007			344,641

Consumer:
Automobile loans		14,885			9,813			8,522			8,008			7,347
Automobile leases		3,666			3,532			2,928			3,211			3,046

Automobile loans and leases		18,551			13,345			11,450			11,219			10,393
Home equity		19,168			15,828			17,345			15,215			12,212
Residential mortgage		7,328			6,706			4,286			2,927			3,340
Other loans		3,766			7,241			4,706			4,081			7,321

Total consumer		48,813			43,120			37,787			33,442			33,266


Total net charge-offs	$	560,620		$	83,751		$	65,247		$	48,449		$	377,907


Net charge-offs — annualized percentages:
Commercial:
Commercial and industrial ^{(1), (2)}		13.78	%		0.87	%		0.36	%		0.32			% 9.76	%
Commercial real estate:
Construction		0.45			0.68			0.11			0.02			1.44
Commercial		1.77			0.39			0.77			0.23			0.78

Commercial real estate		1.50			0.45			0.63			0.18			0.92

Total commercial		8.54			0.69			0.47			0.27			6.18

Consumer:
Automobile loans		1.53			1.02			0.94			0.97			0.96
Automobile leases		2.31			1.84			1.28			1.18			0.96

Automobile loans and leases		1.64			1.15			1.01			1.02			0.96
Home equity		1.02			0.85			0.94			0.84			0.67
Residential mortgage		0.62			0.56			0.33			0.22			0.25
Other loans		2.22			4.32			2.69			2.29			4.02

Total consumer		1.12			0.98			0.85			0.75			0.75


Net charge-offs as a % of average loans		5.41	%		0.82	%		0.64	%		0.48	%		3.77	%


⁽¹⁾		The 2008 fourth quarter includes charge-offs totaling $423.3 million associated with Franklin.

⁽²⁾		The 2007 fourth quarter includes charge-offs totaling $397.0 million associated with the Franklin restructuring. These charge-offs were reduced by the unamortized discount associated with the loans, and by other amounts received from Franklin totaling $88.5 million, resulting in net charge-offs totaling $308.5 million.

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


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

Nonaccrual loans and leases (NALs):
Commercial and industrial ⁽¹⁾	$	932,648		$	174,207		$	161,345		$	101,842		$	87,679
Commercial real estate		445,717			298,844			261,739			183,000			148,467
Residential mortgage		98,951			85,163			82,882			66,466			59,557
Home equity		24,831			27,727			29,076			26,053			24,068

Total nonaccrual loans and leases		1,502,147			585,941			535,042			377,361			319,771
Other real estate, net:
Residential		63,058			59,302			59,119			63,675			60,804
Commercial		59,440			14,176			13,259			10,181			14,467

Total other real estate, net		122,498			73,478			72,378			73,856			75,271
Impaired loans held for sale ⁽²⁾		12,001			13,503			14,759			66,353			73,481
Other NPAs ⁽³⁾		—			2,397			2,557			2,836			4,379


Total nonperforming assets	$	1,636,646		$	675,319		$	624,736		$	520,406		$	472,902


Nonaccrual loans and leases as a % of total loans and leases (NAL ratio)		3.66	%		1.42	%		1.30	%		0.92	%		0.80	%

NPA ratio ⁽⁴⁾		3.97			1.64			1.52			1.26			1.18

Accruing restructured loans ⁽⁵⁾
Franklin	$	—		$	364,939		$	368,379		$	1,157,361		$	1,187,368
Other		306,417			106,520			87,151			59,823			—

Total accruing restructured loans	$	306,417		$	471,459		$	455,530		$	1,217,184		$	1,187,368


Accruing loans and leases past due 90 days or more	$	203,985		$	191,518		$	136,914		$	152,897		$	140,977

Accruing loans and leases past due 90 days or more as a percent of total loans and leases		0.50	%		0.46	%		0.33	%		0.37	%		0.35	%


	2008												2007
(in thousands)	Fourth			Third			Second			First			Fourth

Nonperforming assets, beginning of period	$	675,319		$	624,736		$	520,406		$	472,902		$	435,042
New nonperforming assets		1,159,545			175,345			256,308			141,090			211,134
Returns to accruing status		(13,756	)		(9,104	)		(5,817	)		(13,484	)		(5,273	)
Loan and lease losses		(100,335	)		(52,792	)		(40,808	)		(27,896	)		(62,502	)
Payments		(66,536	)		(43,319	)		(46,091	)		(38,746	)		(30,756	)
Sales		(17,591	)		(19,547	)		(59,262	)		(13,460	)		(74,743	)

Nonperforming assets, end of period	$	1,636,646		$	675,319		$	624,736		$	520,406		$	472,902


⁽¹⁾		The 2008 fourth quarter commercial and industrial NALs include the $650.2 million Franklin Credit Management Corporation (Franklin) Tranche A loan.

⁽²⁾		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.

⁽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.

⁽⁵⁾		Represents accruing loans that have been restructured. The 2007 fourth quarter and 2008 first quarter include both Tranche A and Tranche B of the Franklin relationship. The 2008 second and third quarters include Tranche B of the Franklin relationship, which was charged off in the 2008 fourth 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)	Fourth		Third		Second		First		Fourth

Common stock price, per share
High ⁽¹⁾	$	11.650	$	13.500	$	11.750	$	14.870	$	18.390
Low⁽¹⁾		5.260		4.370		4.940		9.640		13.500
Close		7.660		7.990		5.770		10.750		14.760
Average closing price		8.276		7.510		8.783		12.268		16.125

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

Common shares outstanding
Average — basic		366,054		366,124		366,206		366,235		366,119
Average — diluted ⁽²⁾		366,054		367,361		367,234		367,208		366,119
Ending		366,058		366,069		366,197		366,226		366,262

Book value per common share	$	14.53	$	15.86	$	15.87	$	16.13	$	16.24
Tangible book value per common share ⁽³⁾		5.55		6.84		6.82		7.08		7.13

Capital data


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

Calculation of tangible equity / asset ratio:
Total shareholders’ equity	$	7,197		$	6,374		$	6,381		$	5,907		$	5,949
Less: goodwill		(3,055	)		(3,056	)		(3,057	)		(3,047	)		(3,059	)
Less: other intangible assets		(357	)		(376	)		(395	)		(409	)		(428	)
Add: related deferred tax liability ⁽³⁾		125			132			138			143			150

Total tangible equity		3,910			3,073			3,068			2,593			2,612
Less: Preferred equity		(1,878	)		(569	)		(569	)		—			—

Total tangible common equity	$	2,032		$	2,504		$	2,499		$	2,593		$	2,612


Total assets	$	54,312		$	54,661		$	55,334		$	56,052		$	54,697
Less: goodwill		(3,055	)		(3,056	)		(3,057	)		(3,047	)		(3,059	)
Less: other intangible assets		(357	)		(376	)		(395	)		(409	)		(428	)
Add: related deferred tax liability ⁽³⁾		125			132			138			143			150

Total tangible assets	$	51,025		$	51,360		$	52,020		$	52,739		$	51,360


Tangible equity / asset ratio		7.66	%		5.98	%		5.90	%		4.92	%		5.08	%
Tangible common equity / asset ratio		3.98			4.88			4.80			4.92			5.08

Other capital data:
Total risk-weighted assets ⁽⁴⁾	$	46,793		$	46,608		$	46,602		$	46,546		$	46,044

Tier 1 leverage ratio ⁽⁴⁾		9.82	%		7.99	%		7.88	%		6.83	%		6.77	%
Tier 1 risk-based capital ratio ⁽⁴⁾		10.76			8.80			8.82			7.56			7.51
Total risk-based capital ratio ⁽⁴⁾		13.96			12.03			12.05			10.87			10.85

Tangible equity / risk-weighted assets ratio ⁽⁴⁾		8.37			6.59			6.58			5.57			5.67
Average equity / average assets		12.85			11.56			11.44			10.70			11.40

Other data:
Number of employees (full-time equivalent)		10,951			10,900			11,251			11,787			11,925
Number of domestic full-service banking offices ⁽⁵⁾		613			612			625			627			625


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

⁽²⁾		For the three-month periods ended December 31, 2008, September 30, 2008, and 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⁾		December 31, 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 10 Private Financial Group offices.

Huntington Bancshares Incorporated
Consolidated Annual Average Balance Sheets
(Unaudited)


	Annual Average Balances
Fully taxable equivalent basis				Change from 2007									Change from 2006
(in millions)	2008			Amount			%			2007			Amount			%			2006			2005			2004

Assets
Interest bearing deposits in banks	$	303		$	43			16.5	%	$	260		$	207			N.M.		$	53		$	53		$	66
Trading account securities		1,090			448			69.8			642			550			N.M.			92			207			105
Federal funds sold and securities purchased under resale agreements		435			(156	)		(26.4	)		591			270			84.1			321			262			319
Loans held for sale		416			54			14.9			362			87			31.6			275			318			243
Investment securities:
Taxable		3,878			225			6.2			3,653			(544	)		(13.0	)		4,197			3,683			4,425
Tax-exempt		705			59			9.1			646			76			13.3			570			475			412

Total investment securities		4,583			284			6.6			4,299			(468	)		(9.8	)		4,767			4,158			4,837
Loans and leases: ⁽¹⁾
Commercial:
Commercial and industrial		13,588			2,952			27.8			10,636			3,313			45.2			7,323			6,170			5,466
Commercial real estate:
Construction		2,061			528			34.4			1,533			273			21.7			1,260			1,739			1,468
Commercial		7,671			2,397			45.4			5,274			1,992			60.7			3,282			2,718			2,867

Commercial real estate		9,732			2,925			43.0			6,807			2,265			49.9			4,542			4,457			4,335

Total commercial		23,320			5,877			33.7			17,443			5,578			47.0			11,865			10,627			9,801

Consumer:
Automobile loans		3,676			1,043			39.6			2,633			576			28.0			2,057			2,043			2,285
Automobile leases		851			(634	)		(42.7	)		1,485			(546	)		(26.9	)		2,031			2,422			2,192

Automobile loans and leases		4,527			409			9.9			4,118			30			0.7			4,088			4,465			4,477
Home equity		7,404			1,231			19.9			6,173			1,203			24.2			4,970			4,752			4,244
Residential mortgage		5,018			79			1.6			4,939			358			7.8			4,581			4,081			3,212
Other loans		691			162			30.6			529			90			20.5			439			385			393

Total consumer		17,640			1,881			11.9			15,759			1,681			11.9			14,078			13,683			12,326

Total loans and leases		40,960			7,758			23.4			33,202			7,259			28.0			25,943			24,310			22,127
Allowance for loan and lease losses		(695	)		(313	)		(81.9	)		(382	)		(95	)		(33.1	)		(287	)		(268	)		(298	)

Net loans and leases		40,265			7,445			22.7			32,820			7,164			27.9			25,656			24,042			21,829

Total earning assets		47,787			8,431			21.4			39,356			7,905			25.1			31,451			29,308			27,697

Cash and due from banks		958			28			3.0			930			105			12.7			825			845			843
Intangible assets		3,446			1,427			70.7			2,019			1,452			N.M.			567			218			216
All other assets		3,425			636			22.8			2,789			233			9.1			2,556			2,536			2,975

Total Assets	$	54,921		$	10,209			22.8		$	44,712		$	9,600			27.3		$	35,112		$	32,639		$	31,433


Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — non-interest bearing	$	5,095		$	657			14.8	%	$	4,438		$	908			25.7	%	$	3,530		$	3,379		$	3,230
Demand deposits — interest bearing		4,003			874			27.9			3,129			991			46.4			2,138			1,920			1,953
Money market deposits		6,093			(80	)		(1.3	)		6,173			569			10.2			5,604			5,738			5,254
Savings and other domestic deposits		4,949			948			23.7			4,001			941			30.8			3,060			3,206			3,434
Core certificates of deposit		11,527			3,470			43.1			8,057			3,007			59.5			5,050			3,334			2,689

Total core deposits		31,667			5,869			22.8			25,798			6,416			33.1			19,382			17,577			16,560
Other domestic deposits of $100,000 or more		1,951			563			40.6			1,388			343			32.8			1,045			859			590
Brokered deposits and negotiable CDs		3,243			4			0.1			3,239			(3	)		(0.1	)		3,242			3,119			1,837
Deposits in foreign offices		975			334			52.1			641			126			24.5			515			457			508

Total deposits		37,836			6,770			21.8			31,066			6,882			28.5			24,184			22,012			19,495
Short-term borrowings		2,374			129			5.7			2,245			445			24.7			1,800			1,379			1,410
Federal Home Loan Bank advances		3,281			1,254			61.9			2,027			658			48.1			1,369			1,105			1,271
Subordinated notes and other long-term debt		4,094			406			11.0			3,688			114			3.2			3,574			4,064			5,379

Total interest bearing liabilities		42,490			7,902			22.8			34,588			7,191			26.2			27,397			25,181			24,325

All other liabilities		942			(112	)		(10.6	)		1,054			(185	)		(14.9	)		1,239			1,496			1,504
Shareholders’ equity		6,394			1,762			38.0			4,632			1,686			57.2			2,946			2,583			2,374

Total Liabilities and Shareholders’ Equity	$	54,921		$	10,209			22.8	%	$	44,712		$	9,600			27.3	%	$	35,112		$	32,639		$	31,433


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 Annual Net Interest Margin Analysis
(Unaudited)


	Annual Average Rates⁽²⁾
Fully Taxable Equivalent basis ⁽¹⁾	2008			2007			2006			2005			2004

Assets
Interest bearing deposits in banks		2.53	%		4.80	%		6.00	%		2.16	%		1.05	%
Trading account securities		5.28			5.84			4.19			4.08			4.15
Federal funds sold and securities purchased under resale agreements		2.46			5.05			5.00			2.27			1.73
Loans held for sale		6.01			5.69			6.10			5.64			5.35
Investment securities:
Taxable		5.62			6.07			5.47			4.31			3.88
Tax-exempt		6.83			6.72			6.75			6.71			6.98

Total investment securities		5.81			6.17			5.62			4.58			4.14
Loans and leases ⁽³⁾:
Commercial:
Commercial and industrial		5.67			7.44			7.32			5.88			4.58
Commercial real estate:
Construction		5.05			7.80			8.07			6.42			4.55
Commercial		5.61			7.50			7.45			5.99			4.95

Commercial real estate		5.49			7.57			7.61			6.16			4.81

Total commercial		5.59			7.49			7.43			6.00			4.68

Consumer:
Automobile loans		7.17			7.17			6.57			6.52			7.22
Automobile leases		5.65			5.41			5.07			4.94			5.00

Automobile loans and leases		6.88			6.53			5.82			5.66			6.14
Home equity		6.42			7.77			7.44			6.07			4.92
Residential mortgage		5.83			5.79			5.44			5.22			5.07
Other loans		9.85			10.51			9.07			10.23			7.51

Total consumer		6.50			6.92			6.37			5.80			5.48

Total loans and leases		5.99			7.22			6.86			5.89			5.13

Total earning assets		5.90	%		7.02	%		6.63	%		5.65	%		4.89	%


Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — non-interest bearing		—	%		—	%		—	%		—	%		—	%
Demand deposits — interest bearing		0.55			1.29			0.90			0.55			0.42
Money market deposits		1.93			3.77			3.45			2.18			1.25
Savings and other domestic deposits		1.88			2.40			1.75			1.41			1.29
Core certificates of deposit		4.27			4.85			4.25			3.56			3.36

Total core deposits		2.73			3.55			3.02			2.10			1.56
Other domestic deposits of $100,000 or more		3.76			5.08			5.00			3.32			1.88
Brokered deposits and negotiable CDs		3.66			5.41			5.22			3.51			1.80
Deposits in foreign offices		1.56			3.19			2.93			2.10			0.82

Total deposits		2.85			3.85			3.47			2.40			1.58
Short-term borrowings		1.78			4.13			4.01			2.49			0.93
Federal Home Loan Bank advances		3.29			5.06			4.38			3.13			2.62
Subordinated notes and other long-term debt		4.51			5.96			5.65			4.02			2.46

Total interest bearing liabilities		2.98			4.17			3.84			2.70			1.79


Net interest rate spread		2.92			2.85			2.79			2.95			3.10
Impact of non-interest bearing funds on margin		0.33			0.51			0.50			0.38			0.23

Net interest margin		3.25	%		3.36	%		3.29	%		3.33	%		3.33	%


⁽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 Annual Income Statement Data ⁽¹⁾
(Unaudited)


	Year Ended December 31,
				Change from 2007									Change from 2006
(in thousands, except per share amounts)	2008			Amount			%			2007			Amount			%			2006			2005			2004

Interest income	$	2,798,322		$	55,359			2.0	%	$	2,742,963		$	672,444			32.5	%	$	2,070,519		$	1,641,765		$	1,347,315
Interest expense		1,266,631			(174,820	)		(12.1	)		1,441,451			390,109			37.1			1,051,342			679,354			435,941

Net interest income		1,531,691			230,179			17.7			1,301,512			282,335			27.7			1,019,177			962,411			911,374
Provision for credit losses		1,057,463			413,835			64.3			643,628			578,437			N.M.			65,191			81,299			55,062

Net interest income after provision for credit losses		474,228			(183,656	)		(27.9	)		657,884			(296,102	)		(31.0	)		953,986			881,112			856,312

Service charges on deposit accounts		308,053			53,860			21.2			254,193			68,480			36.9			185,713			167,834			171,115
Brokerage and insurance income		137,796			45,421			49.2			92,375			33,540			57.0			58,835			53,619			54,799
Trust services		125,980			4,562			3.8			121,418			31,463			35.0			89,955			77,405			67,410
Electronic banking		90,267			19,200			27.0			71,067			19,713			38.4			51,354			44,348			41,574
Bank owned life insurance income		54,776			4,921			9.9			49,855			6,080			13.9			43,775			40,736			42,297
Automobile operating lease income		39,851			32,041			N.M.			7,810			(35,305	)		(81.9	)		43,115			133,015			285,431
Mortgage banking income		8,994			(20,810	)		(69.8	)		29,804			(11,687	)		(28.2	)		41,491			28,333			26,786
Securities (losses) gains		(197,370	)		(167,632	)		N.M.			(29,738	)		43,453			(59.4	)		(73,191	)		(8,055	)		15,763
Other income		138,791			58,972			73.9			79,819			(40,203	)		(33.5	)		120,022			95,047			113,423

Total non-interest income		707,138			30,535			4.5			676,603			115,534			20.6			561,069			632,282			818,598

Personnel costs		783,546			96,718			14.1			686,828			145,600			26.9			541,228			481,658			485,806
Outside data processing and other services		128,163			918			0.7			127,245			48,466			61.5			78,779			74,638			72,115
Net occupancy		108,428			9,055			9.1			99,373			28,092			39.4			71,281			71,092			75,941
Equipment		93,965			12,483			15.3			81,482			11,570			16.5			69,912			63,124			63,342
Amortization of intangibles		76,894			31,743			70.3			45,151			35,189			N.M.			9,962			829			817
Professional services		53,667			13,347			33.1			40,320			13,267			49.0			27,053			34,569			36,876
Marketing		32,664			(13,379	)		(29.1	)		46,043			14,315			45.1			31,728			26,279			24,600
Automobile operating lease expense		31,282			26,121			N.M.			5,161			(26,125	)		(83.5	)		31,286			103,850			235,080
Telecommunications		25,008			506			2.1			24,502			5,250			27.3			19,252			18,648			19,787
Printing and supplies		18,870			619			3.4			18,251			4,387			31.6			13,864			12,573			12,463
Other expense		124,887			(12,601	)		(9.2	)		137,488			30,839			28.9			106,649			82,560			95,417

Total non-interest expense		1,477,374			165,530			12.6			1,311,844			310,850			31.1			1,000,994			969,820			1,122,244

(Loss) Income before income taxes		(296,008	)		(318,651	)		N.M.			22,643			(491,418	)		(95.6	)		514,061			543,574			552,666
(Benefit) Provision for income taxes		(182,202	)		(129,676	)		N.M.			(52,526	)		(105,366	)		N.M.			52,840			131,483			153,741

Net (loss) income	$	(113,806	)		(188,975	)		N.M.		$	75,169			(386,052	)		(83.7	)%	$	461,221		$	412,091		$	398,925


Dividends declared on preferred shares		46,400			46,400		N.M.				—			—			—			—			—			—


Net (loss) income applicable to common shares	$	(160,206	)		(235,375	)		N.M.		$	75,169			(386,052	)		(83.7	)%	$	461,221		$	412,091		$	398,925


Average common shares — basic		366,155			65,247			21.7	%		300,908			64,209			27.1	%		236,699			230,142			229,913
Average common shares — diluted ⁽²⁾		366,155			62,700			20.7	%		303,455			63,535			26.5	%		239,920			233,475			233,856

Per common share
Net (loss) income per common share — basic		(0.44	)		(0.69	)		N.M.			0.25			(1.70	)		(87.2	)		1.95			1.79			1.74
Net (loss) income per common share — diluted		(0.44	)		(0.69	)		N.M.			0.25			(1.67	)		(87.0	)		1.92			1.77			1.71
Cash dividends declared		0.6625			(0.398	)		(37.5	)		1.060			0.060			6.0			1.000			0.845			0.750

Return on average total assets		(0.21	)%		(0.38	)%		N.M.			0.17	%		(1.14	)%		(87.02	)		1.31	%		1.26	%		1.27	%
Return on average total shareholders’ equity		(1.8	)		(3.4	)		N.M.			1.6			(14.1	)		(89.8	)		15.7			16.0			16.8
Return on average tangible shareholders’ equity ⁽³⁾		(2.1	)		(6.0	)		N.M.			3.9			(15.6	)		(80.0	)		19.5			17.4			18.5
Net interest margin ⁽⁴⁾		3.25			(0.11	)		(3.3	)		3.36			0.07			2.1			3.29			3.33			3.33
Efficiency ratio ⁽⁵⁾		57.0			(5.5	)		(8.8	)		62.5			3.1			5.2			59.4			60.0			65.0
Effective tax rate		N.M.			N.M.			N.M.			N.M.			N.M.			N.M.			10.3			24.2			27.8

Revenue — fully taxable equivalent (FTE)
Net interest income	$	1,531,691		$	230,179			17.7	%	$	1,301,512		$	282,335			27.7	%	$	1,019,177		$	962,411		$	911,374
FTE adjustment ⁽⁴⁾		20,218			969			5.0			19,249			3,224			20.1			16,025			13,393			11,653

Net interest income		1,551,909			231,148			17.5			1,320,761			285,559			27.6			1,035,202			975,804			923,027
Non-interest income		707,138			30,535			4.5			676,603			115,534			20.6			561,069			632,282			818,598

Total revenue	$	2,259,047		$	261,683			13.1	%	$	1,997,364		$	401,093			25.1	%	$	1,596,271		$	1,608,086		$	1,741,625


N.M., not a meaningful value.

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

⁽²⁾		For the year ended December 31, 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⁾		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.

⁽⁴⁾		On a fully taxable equivalent (FTE) basis assuming a 35% tax rate.

⁽⁵⁾		Non-interest expense less amortization of intangibles divided by the sum of FTE net interest income and non-interest income excluding securities (losses) gains.

Huntington Bancshares Incorporated
Annual Mortgage Banking Income
(Unaudited)


	Year Ended December 31,
(in thousands, except as noted)	2008			2007			2006			2005			2004

Mortgage Banking Income

Origination and secondary marketing	$	37,257		$	25,965		$	18,217		$	24,934		$	22,709
Servicing fees		45,558			36,012			24,659			22,181			21,696
Amortization of capitalized servicing⁽¹⁾		(26,634	)		(20,587	)		(15,144	)		(18,359	)		(19,019	)
Other mortgage banking income		16,768			13,198			10,173			8,583			10,024

Sub-total		72,949			54,588			37,905			37,339			35,410
MSR valuation adjustment ⁽¹⁾		(52,668	)		(16,131	)		4,871			4,371			1,378
Net trading losses related to MSR hedging		(11,287	)		(8,653	)		(1,285	)		(13,377	)		(10,002	)

Total mortgage banking income	$	8,994		$	29,804		$	41,491		$	28,333		$	26,786


Average trading account securities used to hedge MSRs (in millions)	$	1,031		$	594		$	26		$	195		$	94
Capitalized mortgage servicing rights⁽²⁾		167,438			207,894			131,104			91,259			77,107
MSR allowance⁽²⁾		—			—			—			(404	)		(4,775	)
Total mortgages serviced for others (in millions)⁽²⁾		15,754			15,088			8,252			7,276			6,861
MSR % of investor servicing portfolio		1.06	%		1.38	%		1.59	%		1.25	%		1.12	%


Net Impact of MSR Hedging
MSR valuation adjustment⁽¹⁾	$	(52,668	)	$	(16,131	)	$	4,871		$	4,371		$	1,378
Net trading losses related to MSR hedging		(11,287	)		(8,653	)		(1,285	)		(13,377	)		(10,002	)
Net interest income related to MSR hedging		33,139			5,797			36			1,688			1,450
Other MSR hedge activity		—			—			—			—			(4,492	)

Net impact of MSR hedging	$	(30,816	)	$	(18,987	)	$	3,622		$	(7,318	)	$	(11,666	)


⁽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
Annual Credit Reserves Analysis
(Unaudited)


	Year Ended December 31,
(in thousands)	2008			2007			2006			2005			2004

Allowance for loan and lease losses, beginning of period	$	578,442		$	272,068		$	268,347		$	271,211		$	299,732

Acquired allowance for loan and lease losses		—			188,128			23,785			—			—
Loan and lease losses		(806,329	)		(517,943	)		(119,692	)		(115,848	)		(126,115	)
Recoveries of loans previously charged off		48,262			40,312			37,316			35,791			47,580

Net loan and lease losses		(758,067	)		(477,631	)		(82,376	)		(80,057	)		(78,535	)

Provision for loan and lease losses		1,067,789			628,802			62,312			83,782			57,397
Economic reserve transfer		12,063			—			—			(6,253	)		—
Allowance of assets sold and securitized		—			—			—			(336	)		(7,383	)
Allowance for loans transferred to held-for-sale		—			(32,925	)		—			—			—

Allowance for loan and lease losses, end of period	$	900,227		$	578,442		$	272,068		$	268,347		$	271,211


Allowance for unfunded loan commitments and letters of credit, beginning of period	$	66,528		$	40,161		$	36,957		$	33,187		$	35,522
Acquired AULC		—			11,541			325			—			—
(Reduction in) provision for unfunded loan commitments and letters of credit losses		(10,326	)		14,826			2,879			(2,483	)		(2,335	)
Economic reserve transfer		(12,063	)		—			—			6,253			—

Allowance for unfunded loan commitments and letters of credit, end of period	$	44,139		$	66,528		$	40,161		$	36,957		$	33,187


Total allowances for credit losses	$	944,366		$	644,970		$	312,229		$	305,304		$	304,398


Allowance for loan and lease losses (ALLL) as % of:
Transaction reserve		1.91	%		1.27	%		0.86	%		0.89	%		0.83	%
Economic reserve		0.28			0.17			0.18			0.21			0.32

Total loans and leases		2.19	%		1.44	%		1.04	%		1.10	%		1.15	%

Nonaccrual loans and leases (NALs)		60			181			189			263			424
Nonperforming assets (NPAs)		55			122			141			229			250

Total allowances for credit losses (ACL) as % of:
Total loans and leases		2.30	%		1.61	%		1.19	%		1.25	%		1.29	%
Nonaccrual loans and leases		63			202			217			300			476
Nonperforming assets		58			136			261			280			384

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


	Year Ended December 31,
(in thousands)	2008			2007			2006			2005			2004

Net charge-offs by loan and lease type:
Commercial:
Commercial and industrial	$	526,165	⁽¹⁾	$	345,840	⁽²⁾	$	20,868		$	25,000		$	6,573
Commercial real estate:
Construction		6,626			11,854			3,553			135			2,425
Commercial		62,114			27,250			3,230			4,439			6,459

Commercial real estate		68,740			39,104			6,783			4,574			8,884

Total commercial		594,905			384,944			27,651			29,574			15,457

Consumer:
Automobile loans		41,228			17,185			8,330			11,988			28,574
Automobile leases		13,337			10,507			10,445			11,664			10,837

Automobile loans and leases		54,565			27,692			18,775			23,652			39,411
Home equity		67,556			34,426			21,854			17,619			15,074
Residential mortgage		21,247			11,371			4,505			2,332			1,760
Other loans		19,794			19,198			9,591			6,880			6,833

Total consumer		163,162			92,687			54,725			50,483			63,078


Total net charge-offs	$	758,067		$	477,631		$	82,376		$	80,057		$	78,535


Net charge-offs — annualized percentages:
Commercial:
Commercial and industrial ^{(1), (2)}		3.87	%		3.25	%		0.28	%		0.41	%		0.12	%
Commercial real estate:
Construction		0.32			0.77			0.28			0.01			0.17
Commercial		0.81			0.52			0.10			0.16			0.23

Commercial real estate		0.71			0.57			0.15			0.10			0.20

Total commercial		2.55			2.21			0.23			0.28			0.16

Consumer:
Automobile loans		1.12			0.65			0.40			0.59			1.25
Automobile leases		1.57			0.71			0.51			0.48			0.49

Automobile loans and leases		1.21			0.67			0.46			0.53			0.88
Home equity		0.91			0.56			0.44			0.37			0.36
Residential mortgage		0.42			0.23			0.10			0.06			0.05
Other loans		2.86			3.63			2.18			1.79			1.74

Total consumer		0.92			0.59			0.39			0.37			0.51


Net charge-offs as a % of average loans		1.85	%		1.44	%		0.32	%		0.33	%		0.35	%


⁽¹⁾		2008 includes charge-offs totaling $423.3 million associated with Franklin.

⁽²⁾		2007 includes charge-offs totaling $397.0 million associated with the Franklin restructuring. These charge-offs were reduced by the unamortized discount associated with the loans, and by other amounts received by Franklin totaling $88.5 million, resulting in net charge-offs totaling $308.5 million.

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


	December 31,
(in thousands)	2008			2007			2006			2005			2004

Nonaccrual loans and leases (NALs):
Middle market commercial and industrial ⁽¹⁾	$	932,648		$	87,679		$	58,393		$	55,273		$	34,692
Middle market commercial real estate		445,717			148,467			37,947			18,309			8,670
Residential mortgage		98,951			59,557			32,527			17,613			13,545
Home equity		24,831			24,068			15,266			10,720			7,055

Total nonaccrual loans and leases		1,502,147			319,771			144,133			101,915			63,962

Other real estate, net:
Residential		63,058			60,804			47,031			14,214			8,501
Commercial		59,440			14,467			2,456			1,026			36,105

Total other real estate, net		122,498			75,271			49,487			15,240			44,606
Impaired loans held for sale ⁽²⁾		12,001			73,481			—			—			—
Other NPAs ⁽³⁾		—			4,379			—			—			—


Total nonperforming assets	$	1,636,646		$	472,902		$	193,620		$	117,155		$	108,568


Nonperforming loans and leases as a % of total loans and leases (NAL ratio)		3.66	%		0.80	%		0.55	%		0.42	%		0.27	%

NPA ratio ⁽⁴⁾		3.97			1.18			0.74			0.48			0.46

Accruing restructured loans ⁽⁵⁾
Franklin	$	—		$	1,187,368		$	—		$	—		$	—
Other		306,417			—			—			—			—

Total accruring restructured loans	$	306,417		$	1,187,368		$	—		$	—		$	—


Accruing loans and leases past due 90 days or more	$	203,985		$	140,977		$	59,114		$	56,138		$	54,283

Accruing loans and leases past due 90 days or more as a percent of total loans and leases		0.50	%		0.35	%		0.23	%		0.23	%		0.23	%


	December 31,
(in thousands)	2008			2007			2006			2005			2004

Nonperforming assets, beginning of period	$	472,902		$	193,620		$	117,155		$	108,568		$	87,386
New nonperforming assets		1,732,288			468,056			222,043			171,150			137,359
Acquired nonperforming assets		—			144,492			33,843			—			—
Returns to accruing status		(42,161	)		(24,952	)		(43,999	)		(7,547	)		(3,795	)
Loan and lease losses		(221,831	)		(126,754	)		(46,191	)		(38,819	)		(37,337	)
Payments		(194,692	)		(86,093	)		(59,469	)		(64,861	)		(43,319	)
Sales		(109,860	)		(95,467	)		(29,762	)		(51,336	)		(31,726	)


Non-performing assets, end of period	$	1,636,646		$	472,902		$	193,620		$	117,155		$	108,568


⁽¹⁾		2008 commercial and industrial NALs include the Franklin Credit Management Corporation (Franklin) Tranche A loan.

⁽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.

⁽⁵⁾		Represents accruing loans that have been restructured. 2008 includes both Tranche A and Tranche B of the Franklin relationship. Tranche B of the Franklin relationship was charged off in 2008.