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 -------------------------- ------------------------- 1996 1995 1996 1995 -------------------------- ------------------------- Net Income $66,463 $65,937 $194,376 $178,960 Effect of Convertible Debt 0 8 13 34 ----------- ----------- ----------- ----------- 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 ----------- ----------- ----------- ----------- 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 ----------- ----------- ----------- ----------- 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