Exhibit 11
Huntington Bancshares Incorporated
Computation of Earnings Per Share
For Periods Ended September 30, 1996, and 1995
(in thousands of dollars, except per share amounts)
Three Months Ended Nine Months Ended
September 30 September 30
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1996 1995 1996 1995
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Net Income $66,463 $65,937 $194,376 $178,960
Effect of Convertible Debt 0 8 13 34
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Fully Diluted Net Income $66,463 $65,945 $194,389 $178,994
=========== =========== =========== ===========
Average Common Shares Outstanding 145,287,296 150,901,045 146,672,598 153,024,040
Dilutive Effect of Stock Options 1,101,311 1,021,261 1,136,341 899,726
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Average Common Shares and Common
Share Equivalents -- Primary 146,388,607 151,922,306 147,808,939 153,923,766
Additional Dilutive Effect of Stock Options 72,972 88,805 72,972 87,142
Dilutive Effect of Convertible Debt 2,010 69,737 35,463 92,793
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Fully Diluted Shares 146,463,589 152,080,848 147,917,374 154,103,701
=========== =========== =========== ===========
Net Income per Common Share Outstanding $0.46 $0.44 $1.33 $1.17
Primary Earnings per Share $0.45 $0.43 $1.32 $1.16
Fully Diluted Earnings per Share $0.45 $0.43 $1.31 $1.16