Huntington Bancshares Incorporated Annual report pursuant to Section 13 and 15(d)

Parent Company Financial Statements (Tables)

12 Months Ended

Dec. 31, 2011

Balance Sheets		December 31,
(dollar amounts in thousands)		2011		2010
Assets
Cash and cash equivalents (1)	$	917,954	$	615,167
Due from The Huntington National Bank (2)		616,565		954,565
Due from non-bank subsidiaries		188,732		225,560
Investment in The Huntington National Bank		4,073,722		3,515,597
Investment in non-bank subsidiaries		759,532		790,248
Accrued interest receivable and other assets		139,076		110,181
Total assets	$	6,695,581	$	6,211,318

Liabilities and shareholders' equity
Short-term borrowings	$	---	$	100
Long-term borrowings		899,779		937,434
Dividends payable, accrued expenses, and other liabilities		377,702		293,242
Total liabilities		1,277,481		1,230,776
Shareholders' equity (3)		5,418,100		4,980,542
Total liabilities and shareholders' equity	$	6,695,581	$	6,211,318

(1) Includes restricted cash of $125,000 at December 31, 2011 and December 31, 2010.
(2) Related to subordinated notes described in Note 12.
(3) See Huntington’s Consolidated Statements of Changes in Shareholders’ Equity.

Statements of Income				Year Ended December 31,
(dollar amounts in thousands)				2011		2010		2009
Income
	Dividends from
		Non-bank subsidiaries	$	68,491	$	33,000	$	70,600
	Interest from
		The Huntington National Bank		80,024		82,749		51,620
		Non-bank subsidiaries		8,741		12,185		14,662
	Other			1,231		2,987		68,352
Total income				158,487		130,921		205,234

Expense
	Personnel costs			37,630		30,334		21,206
	Interest on borrowings			35,295		23,765		29,357
	Other			37,122		49,019		28,398
Total expense				110,047		103,118		78,961

Income before income taxes and equity in undistributed net income of subsidiaries				48,440		27,803		126,273
Income taxes				(10,707)		48,505		20,675
Income (loss) before equity in undistributed net income of subsidiaries				59,147		(20,702)		105,598
Increase (decrease) in undistributed net income (loss) of:
	The Huntington National Bank			527,418		344,961		(3,130,329)
	Non-bank subsidiaries			(43,952)		(11,912)		(69,448)
Net income (loss)			$	542,613	$	312,347	$	(3,094,179)


Statements of Cash Flows					Year Ended December 31,
(dollar amounts in thousands)					2011		2010		2009

Operating activities
	Net income (loss)			$	542,613	$	312,347	$	(3,094,179)
	Adjustments to reconcile net income (loss) to net cash
		provided by operating activities:
			Equity in undistributed net income (loss) of subsidiaries		(567,566)		(351,049)		3,199,777
			Depreciation and amortization		566		685		3,458
			Other, net		30,980		(74,802)		(103,464)
Net cash (used for) provided by operating activities					6,593		(112,819)		5,592

Investing activities
	Repayments from (advances to) subsidiaries				(39,586)		129,081		393,041
	Advances to subsidiaries				485,863		(425,600)		(1,017,892)
Net cash (used for) provided by investing activities					446,277		(296,519)		(624,851)

Financing activities
	Proceeds from issuance of long-term borrowings				---		297,375		---
	Payment of borrowings				(5,100)		(1,191)		(99,417)
	Dividends paid on stock				(92,404)		(136,499)		(162,288)
	Payment to repurchase preferred stock				---		(1,398,071)		---
	Proceeds from issuance of common stock				---		886,172		1,135,645
	Redemption of Warrant to the Treasury				(49,100)		---		---
	Other, net				(3,479)		180		(198)
Net cash provided by (used for) financing activities					(150,083)		(352,034)		873,742
Change in cash and cash equivalents					302,787		(761,372)		254,483
Cash and cash equivalents at beginning of year					615,167		1,376,539		1,122,056
Cash and cash equivalents at end of year				$	917,954	$	615,167	$	1,376,539

Supplemental disclosure:
	Interest paid			$	35,295	$	23,765	$	29,357