Huntington Bancshares Incorporated Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

ACQUISITION OF FIRSTMERIT CORPORATION ACQUISITION OF FIRSTMERIT CORPORATION (Tables)

ACQUISITION OF FIRSTMERIT CORPORATION ACQUISITION OF FIRSTMERIT CORPORATION (Tables)

9 Months Ended

Sep. 30, 2016

Schedule of Business Acquisitions, by Acquisition

The following table reflects consideration paid for FirstMerit's net assets and the amounts of acquired identifiable assets and liabilities assumed as of the acquisition date:



	FirstMerit
(dollar amounts in thousands)	UPB		Fair Value
Assets acquired:
Cash and due from banks			$	703,661
Interest-bearing deposits in banks			32,496
Loans held for sale			150,576
Available for sale and other securities			7,369,967
Loans and leases:
Commercial:
Commercial and industrial	$	7,410,503	7,252,692
Commercial real estate	1,898,875		1,844,150
Total commercial	9,309,378		9,096,842
Consumer:
Automobile	1,610,007		1,609,145
Home equity	1,579,832		1,537,791
Residential mortgage	1,098,588		1,092,050
RV and marine finance	1,823,312		1,816,575
Other consumer	324,350		323,512
Total consumer	6,436,089		6,379,073
Total loans and leases	$	15,745,467	15,475,915
Bank owned life insurance			633,612
Premises and equipment			228,635
Goodwill			1,332,317
Core deposit intangible			309,750
Other intangible assets			94,571
Servicing rights			15,317
Accrued income and other assets			495,079
Total assets acquired			26,841,896
Liabilities assumed:
Deposits			21,157,172
Short-term borrowings			1,163,851
Long-term debt			519,971
Accrued expenses and other liabilities			292,805
Total liabilities assumed			23,133,799
Total consideration paid			$	3,708,097

Consideration:
Cash paid			$	836,879
Fair value of common stock issued			2,766,898
Fair value of preferred stock exchange			104,320

Schedule of Business Acquisition Pro Forma Information

The following table presents financial information regarding the former FirstMerit operations included in our Unaudited Condensed Consolidated Statements of Income from the date of acquisition (August 16, 2016) through September 30, 2016 under the column “Actual from acquisition date”. The following table also presents unaudited pro forma information as if the acquisition of FirstMerit had occurred on January 1, 2015 under the “Unaudited Pro Forma” columns. The pro forma information does not necessarily reflect the results of operations that would have occurred had Huntington acquired FirstMerit on January 1, 2015. Furthermore, cost savings and other business synergies related to the acquisition are not reflected in the pro forma amounts.



			Unaudited Pro Forma for
	Actual from		Three months ended				Nine months ended
	acquisition date through		September 30,				September 30,
(dollar amounts in thousands)	September 30, 2016		2016		2015		2016		2015
Net interest income	$	93,256	$	706,671	$	657,730	$	2,053,093	$	1,940,746
Noninterest income	30,556		334,630		323,063		977,153		965,923
Net income	55,353		144,292		191,507		570,180		627,104