21. SUBSEQUENT EVENTS

On July 30, 2014, Huntington commenced organizational actions to reduce noninterest expense and improve productivity.  The organizational actions are expected to be substantially complete by the end of August 2014. The resulting estimated annualized expense savings of $30 to $35 million will be achieved primarily through reductions in personnel expense by improving productivity in functions that are not directly focused on revenue generation. Huntington will continue to invest in initiatives to grow revenue and improve productivity. Accordingly, some portion of the expense saves resulting from the organizational actions will be reinvested to help achieve our long-term strategic objectives. As a result of the organizational actions, Huntington expects to recognize approximately $15 to $20 million in restructuring charges during the 2014 third quarter and $3 to $5 million during the 2014 fourth quarter.