EXHIBIT 11
Huntington Bancshares Incorporated
Computation of Earnings Per Share
For Periods Ended June 30, 1997, and 1996
( in thousands of dollars, except per share amounts )
Three Months Ended Six Months Ended
June 30 June 30
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1997 1996 1997 1996
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Net Income $ 72,546 $ 65,088 $ 138,996 $ 127,913
Effect of Convertible Debt -- 7 -- 13
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Fully Diluted Net Income $ 72,546 $ 65,095 $ 138,996 $ 127,926
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Average Common Shares Outstanding 159,244,641 160,825,633 158,179,654 162,120,544
Dilutive Effect of Stock Options 1,505,919 1,257,896 1,199,582 1,269,242
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Average Common Shares and Common
Share Equivalents -- Primary 160,750,560 162,083,529 159,379,236 163,389,786
Additional Dilutive Effect of Stock Options 97,337 -- 403,674 11,725
Dilutive Effect of Convertible Debt -- 57,409 -- 57,409
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Fully Diluted Shares 160,847,897 162,140,938 159,782,910 163,458,920
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Net Income per Common Share Outstanding $ 0.46 $ 0.40 $ 0.88 $ 0.79
Primary Earnings per Share $ 0.45 $ 0.40 $ 0.87 $ 0.78
Fully Diluted Earnings per Share $ 0.45 $ 0.40 $ 0.87 $ 0.78