EXHIBIT 11
Huntington Bancshares Incorporated
Computation of Earnings Per Share
For Periods Ended June 30, 1996, and 1995
(in thousands of dollars, except per share amounts)
Three Months Ended Six Months Ended
June 30 June 30
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1996 1995 1996 1995
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Net Income $ 65,088 $ 58,161 $ 127,913 $ 113,023
Effect of Convertible Debt 7 13 13 25
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Fully Diluted Net Income $ 65,095 $ 58,174 $ 127,926 $ 113,048
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Average Common Shares Outstanding 146,205,121 153,996,205 147,382,313 154,103,132
Dilutive Effect of Stock Options 1,143,542 820,434 1,153,856 838,960
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Average Common Shares and Common
Share Equivalents -- Primary 147,348,663 154,816,639 148,536,169 154,942,092
Additional Dilutive Effect of Stock Options -- 149,225 10,659 130,699
Dilutive Effect of Convertible Debt 52,190 104,305 52,190 104,320
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Fully Diluted Shares 147,400,853 155,070,169 148,599,018 155,177,111
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Net Income per Common Share Outstanding $ 0.45 $ 0.38 $ 0.87 $ 0.73
Primary Earnings per Share $ 0.44 $ 0.38 $ 0.86 $ 0.73
Fully Diluted Earnings per Share $ 0.44 $ 0.38 $ 0.86 $ 0.73