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
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1997 1996 1997 1996
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Net Income $ 41,232 $ 77,444 $ 202,014 $ 225,137
Effect of Convertible Debt -- -- -- 13
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Fully Diluted Net Income $ 41,232 $ 77,444 $ 202,014 $ 225,150
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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
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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