EXHIBIT 11 Huntington Bancshares Incorporated Computation of Earnings Per Share For Periods Ended September 30, 1997, and 1996 ( in thousands of dollars, except per share amounts )
Three Months Ended Nine Months Ended September 30 September 30 ------------------------------ ------------------------------ 1997 1996 1997 1996 ------------ ------------ ------------ ------------ Net Income $ 41,232 $ 77,444 $ 202,014 $ 225,137 Effect of Convertible Debt -- -- -- 13 ------------ ------------ ------------ ------------ Fully Diluted Net Income $ 41,232 $ 77,444 $ 202,014 $ 225,150 ============ ============ ============ ============ Average Common Shares Outstanding 191,245,312 191,710,810 190,562,120 193,293,766 Dilutive Effect of Stock Options 2,441,672 1,756,767 2,021,661 1,764,302 ------------ ------------ ------------ ------------ Average Common Shares and Common Share Equivalents -- Primary 193,686,984 193,467,577 192,583,781 195,058,068 Additional Dilutive Effect of Stock Options 361,113 80,269 781,124 80,269 Dilutive Effect of Convertible Debt -- 2,211 -- 39,009 ------------ ------------ ------------ ------------ Fully Diluted Shares 194,048,097 193,550,057 193,364,905 195,177,346 ============ ============ ============ ============ Net Income per Common Share Outstanding $ 0.22 $ 0.40 $ 1.06 $ 1.16 Primary Earnings per Share $ 0.21 $ 0.40 $ 1.05 $ 1.15 Fully Diluted Earnings per Share $ 0.21 $ 0.40 $ 1.04 $ 1.15