Huntington Bancshares (HBAN) 8-K Huntington Bancshares Reports Fourth Quarter Loss of $369.7 Million, or $0.56 Per Common Share

Exhibit 99.2

HUNTINGTON BANCSHARES INCORPORATED
Quarterly Financial Review
December 2009

Table of Contents

Consolidated Balance Sheets	1
Loans and Leases Composition	2
Deposits Composition	3
Consolidated Quarterly Average Balance Sheets	4
Consolidated Quarterly Net Interest Margin Analysis	5
Selected Quarterly Income Statement Data	6
Quarterly Mortgage Banking Income	7
Quarterly Credit Reserves Analysis	8
Quarterly Net Charge-Off Analysis	9
Quarterly Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)	10
Quarterly Accruing Past Due Loans and Leases and Accruing Restructured Loans	11
Quarterly Common Stock Summary, Capital, and Other Data	12
Consolidated Annual Average Balance Sheets	13
Consolidated Annual Net Interest Margin Analysis	14
Selected Annual Income Statement Data	15
Annual Mortgage Banking Income	16
Annual Credit Reserves Analysis	17
Annual Net Charge-Off Analysis	18
Annual Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)	19

Notes:

The preparation of financial statement data in conformity with accounting principals generally accepted in the United States requires management to make estimates and assumptions that affect amounts reported. Actual results could differ from those estimates. Certain prior period amounts have been reclassified to conform to the current period’s presentation.

Contents

Huntington Bancshares Incorporated
Consolidated Balance Sheets

										Change
	2009						2008			December ‘09 vs ‘08
(in thousands, except number of shares)	December 31,			September 30,			December 31,			Amount			Percent
	(Unaudited)			(Unaudited)
Assets
Cash and due from banks	$	1,521,344		$	1,882,108		$	806,693		$	714,651			89	%
Federal funds sold and securities purchased under resale agreements		—			—			37,975			(37,975	)		N.M.
Interest bearing deposits in banks		319,375			397,941			292,561			26,814			9
Trading account securities		83,657			121,366			88,677			(5,020	)		(6	)
Loans held for sale		461,647			530,861			390,438			71,209			18
Investment securities		8,587,914			8,503,150			4,384,457			4,203,457			96
Loans and leases (1)		36,790,663			37,304,094			41,092,165			(4,301,502	)		(10	)
Allowance for loan and lease losses		(1,482,479	)		(1,031,971	)		(900,227	)		(582,252	)		65
Net loans and leases		35,308,184			36,272,123			40,191,938			(4,883,754	)		(12	)
Bank owned life insurance		1,412,333			1,402,134			1,364,466			47,867			4
Premises and equipment		496,021			496,280			519,500			(23,479	)		(5	)
Goodwill		444,268			443,648			3,054,985			(2,610,717	)		(85	)
Other intangible assets		289,098			302,612			356,703			(67,605	)		(19	)
Accrued income and other assets		2,630,824			2,160,436			2,864,466			(233,642	)		(8	)
Total Assets	$	51,554,665		$	52,512,659		$	54,352,859		$	(2,798,194	)		(5	)%
Liabilities and Shareholders’ Equity
Liabilities
Deposits(2)	$	40,493,927		$	39,829,057		$	37,943,286		$	2,550,641			7	%
Short-term borrowings		876,241			852,076			1,309,157			(432,916	)		(33	)
Federal Home Loan Bank advances		168,977			920,045			2,588,976			(2,419,999	)		(93	)
Other long-term debt		2,369,491			2,434,858			2,331,632			37,859			2
Subordinated notes		1,264,202			1,674,054			1,950,097			(685,895	)		(35	)
Accrued expenses and other liabilities		1,045,825			1,127,463			1,000,805			45,020			4
Total Liabilities		46,218,663			46,837,553			47,123,953			(905,290	)		(2	)
Equity
Huntington Bancshares Incorporated shareholders’ equity
Preferred stock — authorized 6,617,808 shares-
5.00% Series B Non-voting, Cumulative Preferred Stock, par value of $0.01 and liquidation value per share of $1,000		1,325,008			1,320,898			1,308,667			16,341			1
8.50% Series A Non-cumulative Perpetual Convertible Preferred Stock, par value and liquidiation value per share of $1,000		362,507			362,507			569,000			(206,493	)		(36	)
Common stock -
Par value of $0.01 and authorized 1,000,000,000 shares		7,167			7,154			3,670			3,497			95
Capital surplus		6,731,796			6,723,923			5,322,428			1,409,368			26
Less treasury shares at cost		(11,465	)		(11,827	)		(15,530	)		4,065			(26	)
Accumulated other comprehensive income (loss):
Unrealized losses on investment securities		(103,382	)		(103,010	)		(207,756	)		104,374			(50	)
Unrealized gains (losses) on cash flow hedging derivatives		58,865			50,311			44,638			14,227			32
Pension and other postretirement benefit adjustments		(112,468	)		(159,143	)		(163,575	)		51,107			(31	)
Retained (deficit) earnings		(2,922,026	)		(2,515,707	)		367,364			(3,289,390	)		N.M.
Total Shareholders’ Equity		5,336,002			5,675,106			7,228,906			(1,892,904	)		(26	)
Total Liabilities and Shareholders’ Equity	$	51,554,665		$	52,512,659		$	54,352,859		$	(2,798,194	)		(5	)%
Common shares issued		716,741,249			715,409,524			366,972,250
Common shares outstanding		715,761,672			714,469,066			366,057,669
Treasury shares outstanding		979,577			940,458			914,581
Preferred shares issued		1,967,071			1,967,071			1,967,071
Preferred shares outstanding		1,760,578			1,760,578			1,967,071

N.M., not a meaningful value.
(1)	See page 2 for detail of loans and leases.
(2)	See page 3 for detail of deposits.

1

Huntington Bancshares Incorporated
Loans and Leases Composition
(Unaudited)

	2009																2008
(in millions)	December 31,				September 30,				June 30,				March 31,				December 31,
	(Unaudited)				(Unaudited)				(Unaudited)				(Unaudited)
Ending Balances by Type
Commercial:(1)
Commercial and industrial(2)	$	12,888	35	%	$	12,547	34	%	$	13,320	35	%	$	13,768	35	%	$	13,541	33	%
Commercial real estate:
Construction		1,469	4			1,815	5			1,857	5			2,074	5			2,080	5
Commercial(2)		6,220	17			6,900	19			7,089	18			7,187	18			8,018	20
Commercial real estate		7,689	21			8,715	23			8,946	23			9,261	23			10,098	25
Total commercial		20,577	56			21,262	57			22,266	58			23,029	58			23,639	58
Consumer:
Automobile loans		3,144	9			2,939	8			2,855	7			2,894	7			3,901	10
Automobile leases		246	1			309	1			383	1			468	1			563	1
Home equity		7,562	21			7,576	20			7,631	20			7,663	19			7,556	18
Residential mortgage		4,510	12			4,468	12			4,646	12			4,837	12			4,761	12
Other loans		752	2			750	2			714	2			657	2			672	2
Total consumer		16,214	44			16,042	43			16,229	42			16,519	42			17,453	42
Total loans and leases	$	36,791	100		$	37,304	100	%	$	38,495	100	%	$	39,548	100	%	$	41,092	100	%
Ending Balances by Business Segment (in thousands)
Retail and Business Banking	$	14,394	39	%	$	14,435	39	%	$	14,871	39	%	$	15,116	38	%	$	15,521	38	%
Commercial Banking		7,439	20			7,677	21			7,830	20			8,163	21			8,294	20
Commercial Real Estate		7,525	21			7,947	21			8,232	21			8,506	22			8,405	21
Auto Finance and Dealer Services		4,609	13			4,330	12			4,559	12			4,835	12			5,953	15
Private Financial Group		2,380	7			2,450	7			2,531	7			2,434	6			2,269	5
Treasury / Other (3)		444	1			465	1			472	1			494	1			650	2
Total loans and leases	$	36,791	100	%	$	37,304	100	%	$	38,495	100	%	$	39,548	100	%	$	41,092	100	%

	2009																2008
	Fourth				Third				Second				First				Fourth
Average Balances by Business Segment
Retail and Business Banking	$	14,319	39	%	$	14,553	38	%	$	14,847	38	%	$	15,289	37	%	$	15,420	37	%
Commercial Banking		7,539	20			7,805	21			8,011	21			8,287	20			8,349	20
Commercial Real Estate		7,857	21			8,151	22			8,426	22			8,500	21			8,385	20
Auto Finance and Dealer Services		4,494	12			4,381	12			4,725	12			5,833	14			5,922	14
Private Financial Group		2,425	7			2,494	7			2,509	6			2,328	6			2,276	6
Treasury / Other (3)		455	1			471	1			489	1			629	2			1,085	3
Total loans and direct financing leases	$	37,089	100	%	$	37,855	100	%	$	39,007	100	%	$	40,866	100	%	$	41,437	100	%

(1)	There were no commercial loans outstanding that would be considered a concentration of lending to a particular industry or group of industries.
(2)	The 2009 first quarter and the 2009 fourth quarter reflected net reclassifications from commercial real estate loans to commercial and industrial loans of $782.2 million and $589.0 million, respectively.
(3)	Comprised primarily of Franklin loans.

2

Huntington Bancshares Incorporated
Deposits Composition
(Unaudited)

	2009																2008
(in millions)	December 31,				September 30,				June 30,				March 31,				December 31,
	(Unaudited)				(Unaudited)				(Unaudited)				(Unaudited)
Ending Balances by Type
Demand deposits — non-interest bearing	$	6,907	17	%	$	6,306	16	%	$	6,169	16	%	$	5,887	15	%	$	5,477	14	%
Demand deposits — interest bearing		5,890	15			5,401	14			4,842	12			4,306	11			4,083	11
Money market deposits		9,485	23			8,548	22			6,622	17			5,857	15			5,182	14
Savings and other domestic deposits		4,652	12			4,631	12			4,859	12			5,007	13			4,930	13
Core certificates of deposit		10,453	26			11,205	28			12,197	31			12,616	32			12,856	34
Total core deposits		37,387	92			36,091	91			34,689	89			33,673	86			32,528	86
Other domestic deposits of $250,000 or more		652	2			689	2			846	2			1,041	3			1,328	4
Brokered deposits and negotiable CDs		2,098	5			2,630	7			3,229	8			3,848	10			3,354	9
Deposits in foreign offices		357	1			419	1			401	1			508	1			733	2
Total deposits	$	40,494	100	%	$	39,829	100	%	$	39,165	100	%	$	39,070	100	%	$	37,943	100	%
Total core deposits:
Commercial	$	11,368	30	%	$	10,884	30	%	$	9,738	28	%	$	8,934	27	%	$	7,971	25	%
Personal		26,019	70			25,207	70			24,951	72			24,739	74			24,557	76
Total core deposits	$	37,387	100	%	$	36,091	100	%	$	34,689	100	%	$	33,673	100	%	$	32,528	100	%
Ending Balances by Business Segment
Retail and Business Banking	$	28,877	71	%	$	28,136	71	%	$	27,897	71	%	$	27,764	71	%	$	27,350	72	%
Commercial Banking		5,927	15			6,207	16			5,539	14			5,584	14			5,122	14
Commercial Real Estate		535	1			532	1			484	1			479	1			487	1
Auto Finance and Dealer Services		83	—			98	—			86	—			72	—			70	—
Private Financial Group		3,512	9			2,894	7			2,676	7			2,248	6			1,745	5
Treasury / Other(1)		1,560	4			1,962	5			2,483	7			2,923	8			3,169	9
Total deposits	$	40,494	100	%	$	39,829	100	%	$	39,165	100	%	$	39,070	100	%	$	37,943	100	%

	2009																2008
	Fourth				Third				Second				First				Fourth
Average Balances by Business Segment
Retail and Business Banking	$	28,709	71	%	$	27,892	70	%	$	27,832	70	%	$	27,261	71	%	$	27,023	72	%
Commercial Banking		6,012	15			5,910	15			5,585	14			5,279	14			5,304	14
Commercial Real Estate		525	1			504	1			473	1			468	1			498	1
Auto Finance and Dealer Services		85	—			95	—			74	—			66	—			64	—
Private Financial Group		3,104	8			2,841	8			2,464	6			1,929	5			1,600	5
Treasury / Other (1)		1,779	4			2,351	6			3,106	8			3,186	8			3,094	8
Total deposits	$	40,214	100	%	$	39,593	100	%	$	39,534	100	%	$	38,189	100	%	$	37,583	100	%

⁽¹⁾ Comprised primarily of national market deposits.

3

Huntington Bancshares Incorporated
Consolidated Quarterly Average Balance Sheets
(Unaudited)

	Average Balances															Change
Fully taxable equivalent basis	2009												2008			4Q09 vs 4Q08
(in millions)	Fourth			Third			Second			First			Fourth			Amount			Percent
Assets
Interest bearing deposits in banks	$	329		$	393		$	369		$	355		$	343		$	(14	)		(4	)%
Trading account securities		110			107			88			278			940			(830	)		(88	)
Federal funds sold and securities purchased under resale agreements		15			7			—			19			48			(33	)		(69	)
Loans held for sale		470			524			709			627			329			141			43
Investment securities:
Taxable		8,695			6,510			5,181			3,961			3,789			4,906			N.M.
Tax-exempt		139			129			126			465			689			(550	)		(80	)
Total investment securities		8,834			6,639			5,307			4,426			4,478			4,356			97
Loans and leases: (1)
Commercial:
Commercial and industrial		12,570			12,922			13,523			13,541			13,746			(1,176	)		(9	)
Commercial real estate:
Construction		1,651			1,808			1,946			2,033			2,103			(452	)		(21	)
Commercial		6,807			7,071			7,253			8,079			8,115			(1,308	)		(16	)
Commercial real estate		8,458			8,879			9,199			10,112			10,218			(1,760	)		(17	)
Total commercial		21,028			21,801			22,722			23,653			23,964			(2,936	)		(12	)
Consumer:
Automobile loans		3,050			2,886			2,867			3,837			3,899			(849	)		(22	)
Automobile leases		276			344			423			517			636			(360	)		(57	)
Automobile loans and leases		3,326			3,230			3,290			4,354			4,535			(1,209	)		(27	)
Home equity		7,561			7,581			7,640			7,577			7,523			38			1
Residential mortgage		4,417			4,487			4,657			4,611			4,737			(320	)		(7	)
Other loans		757			756			698			671			678			79			12
Total consumer		16,061			16,054			16,285			17,213			17,473			(1,412	)		(8	)
Total loans and leases		37,089			37,855			39,007			40,866			41,437			(4,348	)		(10	)
Allowance for loan and lease losses		(1,029	)		(950	)		(930	)		(913	)		(764	)		(265	)		(35	)
Net loans and leases		36,060			36,905			38,077			39,953			40,673			(4,613	)		(11	)
Total earning assets		46,847			45,525			45,480			46,571			47,575			(728	)		(2	)
Cash and due from banks		1,947			2,553			2,466			1,553			928			1,019			N.M.
Intangible assets		737			755			780			3,371			3,421			(2,684	)		(78	)
All other assets		3,956			3,797			3,701			3,571			3,447			509			15
Total Assets	$	52,458		$	51,680		$	51,497		$	54,153		$	54,607		$	(2,149	)		(4	)%
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — noninterest bearing	$	6,466		$	6,186		$	6,021		$	5,544		$	5,205		$	1,261			24	%
Demand deposits — interest bearing		5,482			5,140			4,547			4,076			3,988			1,494			37
Money market deposits		9,271			7,601			6,355			5,593			5,500			3,771			69
Savings and other domestic deposits		4,686			4,771			5,031			5,041			5,034			(348	)		(7	)
Core certificates of deposit		10,867			11,646			12,501			12,784			12,588			(1,721	)		(14	)
Total core deposits		36,772			35,344			34,455			33,038			32,315			4,457			14
Other domestic deposits of $250,000 or more		667			747			886			1,069			1,365			(698	)		(51	)
Brokered deposits and negotiable CDs		2,353			3,058			3,740			3,449			3,049			(696	)		(23	)
Deposits in foreign offices		422			444			453			633			854			(432	)		(51	)
Total deposits		40,214			39,593			39,534			38,189			37,583			2,631			7
Short-term borrowings		879			879			879			1,099			1,748			(869	)		(50	)
Federal Home Loan Bank advances		681			924			947			2,414			3,188			(2,507	)		(79	)
Subordinated notes and other long-term debt		3,908			4,136			4,640			4,612			4,252			(344	)		(8	)
Total interest bearing liabilities		39,216			39,346			39,979			40,770			41,566			(2,350	)		(6	)
All other liabilities		1,042			863			569			614			817			225			28
Shareholders’ equity		5,734			5,285			4,928			7,225			7,019			(1,285	)		(18	)
Total Liabilities and Shareholders’ Equity	$	52,458		$	51,680		$	51,497		$	54,153		$	54,607		$	(2,149	)		(4	)%

N.M., not a meaningful value.

⁽¹⁾ For purposes of this analysis, nonaccrual loans are reflected in the average balances of loans.

4

Huntington Bancshares Incorporated
Consolidated Quarterly Net Interest Margin Analysis
(Unaudited)

	Average Rates (2)
	2009												2008
Fully taxable equivalent basis(1)	Fourth			Third			Second			First			Fourth
Assets
Interest bearing deposits in banks		0.16	%		0.28	%		0.37	%		0.45	%		1.44	%
Trading account securities		1.89			1.96			2.22			4.04			5.32
Federal funds sold and securities purchased under resale agreements		0.03			0.14			0.82			0.20			0.24
Loans held for sale		5.13			5.20			5.19			5.04			6.58
Investment securities:
Taxable		3.20			3.99			4.63			5.60			5.74
Tax-exempt		6.31			6.77			6.83			6.61			7.02
Total investment securities		3.25			4.04			4.69			5.71			5.94
Loans and leases: (3)
Commercial:
Commercial and industrial		5.20			5.19			5.00			4.60			5.01
Commercial real estate:
Construction		2.63			2.61			2.78			2.76			4.55
Commercial		3.40			3.43			3.56			3.76			5.07
Commercial real estate		3.25			3.26			3.39			3.55			4.96
Total commercial		4.41			4.40			4.35			4.15			4.99
Consumer:
Automobile loans		7.15			7.34			7.28			7.20			7.17
Automobile leases		6.40			6.25			6.12			6.03			5.82
Automobile loans and leases		7.09			7.22			7.13			7.06			6.98
Home equity		5.82			5.75			5.75			5.13			5.87
Residential mortgage		5.04			5.03			5.12			5.71			5.84
Other loans		6.90			7.21			8.22			8.97			9.25
Total consumer		5.92			5.91			5.95			5.92			6.28
Total loans and leases		5.07			5.04			5.02			4.90			5.53
Total earning assets		4.70	%		4.86	%		4.99	%		4.99	%		5.57	%
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — noninterest bearing		—	%		—	%		—	%		—	%		—	%
Demand deposits — interest bearing		0.22			0.22			0.18			0.14			0.34
Money market deposits		1.21			1.20			1.14			1.02			1.31
Savings and other domestic deposits		1.27			1.33			1.37			1.50			1.72
Core certificates of deposit		3.07			3.27			3.50			3.81			4.02
Total core deposits		1.71			1.88			2.06			2.28			2.50
Other domestic deposits of $250,000 or more		1.88			2.24			2.61			2.92			3.39
Brokered deposits and negotiable CDs		2.52			2.49			2.54			2.97			3.39
Deposits in foreign offices		0.18			0.20			0.20			0.17			0.90
Total deposits		1.75			1.92			2.11			2.33			2.58
Short-term borrowings		0.24			0.25			0.26			0.25			0.85
Federal Home Loan Bank advances		1.01			0.92			1.13			1.03			3.04
Subordinated notes and other long-term debt		2.67			2.58			2.91			3.29			4.49
Total interest bearing liabilities		1.80	%		1.93	%		2.14	%		2.31	%		2.74	%
Net interest rate spread		2.90	%		2.93	%		2.85	%		2.68	%		2.83	%
Impact of non-interest bearing funds on margin		0.29			0.27			0.25			0.29			0.35
Net interest margin		3.19	%		3.20	%		3.10	%		2.97	%		3.18	%

(1)	Fully taxable equivalent (FTE) yields are calculated assuming a 35% tax rate. See page 6 for the FTE adjustment.
(2)	Loan, lease, and deposit average rates include impact of applicable derivatives and non-deferrable fees.
(3)	For purposes of this analysis, nonaccrual loans are reflected in the average balances of loans.

5

Huntington Bancshares Incorporated
Selected Quarterly Income Statement Data⁽¹⁾
(Unaudited)

	2009												2008			4Q09 vs 4Q08
(in thousands, except per share amounts)	Fourth			Third			Second			First			Fourth			Amount			Percent
Interest income	$	551,335		$	553,846		$	563,004		$	569,957		$	662,508		$	(111,173	)		(17	)%
Interest expense		177,271			191,027			213,105			232,452			286,143			(108,872	)		(38	)
Net interest income		374,064			362,819			349,899			337,505			376,365			(2,301	)		(1	)
Provision for credit losses		893,991			475,136			413,707			291,837			722,608			171,383			24
Net interest (loss) income after provision for credit losses		(519,927	)		(112,317	)		(63,808	)		45,668			(346,243	)		(173,684	)		50
Service charges on deposit accounts		76,757			80,811			75,353			69,878			75,247			1,510			2
Brokerage and insurance income		32,173			33,996			32,052			39,948			31,233			940			3
Mortgage banking income (loss)		24,618			21,435			30,827			35,418			(6,747	)		31,365			N.M.
Trust services		27,275			25,832			25,722			24,810			27,811			(536	)		(2	)
Electronic banking		25,173			28,017			24,479			22,482			22,838			2,335			10
Bank owned life insurance income		14,055			13,639			14,266			12,912			13,577			478			4
Automobile operating lease income		12,671			12,795			13,116			13,228			13,170			(499	)		(4	)
Securities (losses) gains		(2,602	)		(2,374	)		(7,340	)		2,067			(127,082	)		124,480			(98	)
Other income		34,426			41,901			57,470			18,359			17,052			17,374			N.M.
Total noninterest income		244,546			256,052			265,945			239,102			67,099			177,447			N.M.
Personnel costs		180,663			172,152			171,735			175,932			196,785			(16,122	)		(8	)
Outside data processing and other services		36,812			38,285			40,006			32,992			31,609			5,203			16
Deposit and other insurance expense		24,420			23,851			48,138			17,421			9,395			15,025			N.M.
Net occupancy		26,273			25,382			24,430			29,188			22,999			3,274			14
OREO and foreclosure expense		18,520			38,968			26,524			9,887			8,171			10,349			N.M.
Equipment		20,454			20,967			21,286			20,410			22,329			(1,875	)		(8	)
Professional services		25,146			18,108			16,658			16,454			16,430			8,716			53
Amortization of intangibles		17,060			16,995			17,117			17,135			19,187			(2,127	)		(11	)
Automobile operating lease expense		10,440			10,589			11,400			10,931			10,483			(43	)		(0	)
Marketing		9,074			8,259			7,491			8,225			9,357			(283	)		(3	)
Telecommunications		6,099			5,902			6,088			5,890			5,892			207			4
Printing and supplies		3,807			3,950			4,151			3,572			4,175			(368	)		(9	)
Goodwill impairment		—			—			4,231			2,602,713			—			—			—
Gain on early extinguishment of debt (2)		(73,615	)		(60	)		(73,038	)		(729	)		—			(73,615	)		—
Other expense		17,443			17,749			13,765			19,748			33,282			(15,839	)		(48	)
Total noninterest expense		322,596			401,097			339,982			2,969,769			390,094			(67,498	)		(17	)
Loss before income taxes		(597,977	)		(257,362	)		(137,845	)		(2,684,999	)		(669,238	)		71,262			(11	)
Benefit for income taxes		(228,290	)		(91,172	)		(12,750	)		(251,792	)		(251,949	)		23,659			(9	)
Net loss	$	(369,687	)	$	(166,190	)	$	(125,095	)	$	(2,433,207	)	$	(417,289	)	$	47,603			(11	)%
Dividends on preferred shares		29,289			29,223			57,451			58,793			23,158			6,131			26
Net loss applicable to common shares	$	(398,976	)	$	(195,413	)	$	(182,546	)	$	(2,492,000	)	$	(440,447	)	$	41,471			(9	)%
Average common shares — basic		715,336			589,708			459,246			366,919			366,054			349,282			95	%
Average common shares — diluted(3)		715,336			589,708			459,246			366,919			366,054			349,282			95
Per common share
Net loss — diluted		(0.56	)		(0.33	)		(0.40	)		(6.79	)		(1.20	)		0.64			(53	)
Cash dividends declared		0.0100			0.0100			0.0100			0.0100			0.1325			(0.1225	)		(93	)
Return on average total assets		(2.80	)%		(1.28	)%		(0.97	)%		(18.22	)%		(3.04	)%		0.24	%		(8	)
Return on average total shareholders’ equity		(25.6	)		(12.5	)		(10.2	)		N.M.			(23.6	)		(2.0	)		9
Return on average tangible shareholders’ equity(4)		(27.9	)		(13.3	)		(10.3	)		18.4			(43.2	)		15.30			(35	)
Net interest margin(5)		3.19			3.20			3.10			2.97			3.18			0.01			0
Efficiency ratio(6)		49.0			61.4			51.0			60.5			64.6			(15.6	)		(24	)
Effective tax rate (benefit)		(38.2	)		(35.4	)		(9.2	)		(9.4	)		(37.6	)		(0.6	)		2
Revenue — fully taxable equivalent (FTE)
Net interest income	$	374,064		$	362,819		$	349,899		$	337,505		$	376,365		$	(2,301	)		(1	)
FTE adjustment		2,497			4,177			1,216			3,582			3,641			(1,144	)		(31	)
Net interest income (5)		376,561			366,996			351,115			341,087			380,006			(3,445	)		(1	)
Noninterest income		244,546			256,052			265,945			239,102			67,099			177,447			N.M.
Total revenue (5)	$	621,107		$	623,048		$	617,060		$	580,189		$	447,105		$	174,002			39	%

N.M., not a meaningful value.
(1)	Comparisons for presented periods are impacted by a number of factors. Refer to the “Significant Items” discussion.
(2)	The 2009 fourth quarter gain related to the purchase of certain subordinated bank notes. The 2009 second quarter gain included $67.4 million related to the purchase of certain trust preferred secuities.
(3)	For all the quarterly periods presented above, the impact of the convertible preferred stock issued in April of 2008 was excluded from the diluted share calculation because the result would have been higher than basic earnings per common share (anti-dilutive) for the periods.
(4)	Net income (loss) excluding expense for amortization of intangibles for the period divided by average tangible shareholders’ equity. Average tangible shareholders’ equity equals average stockholders’ equity less average intangible assets and goodwill. Expense for amortization of intangibles and average intangible assets are net of deferred tax liability, and calculated assuming a 35% tax rate.
(5)	On a fully taxable equivalent (FTE) basis assuming a 35% tax rate.
(6)	Noninterest expense less amortization of intangibles and goodwill impairment divided by the sum of FTE net interest income and noninterest income excluding securities (losses) gains.

6

Huntington Bancshares Incorporated
Quarterly Mortgage Banking Income
(Unaudited)

	2009												2008			4Q09 vs 4Q08
(in thousands, except as noted)	Fourth			Third			Second			First			Fourth			Amount			Percent
Mortgage Banking Income
Origination and secondary marketing	$	16,473		$	16,491		$	31,782		$	29,965		$	7,180		$	9,293			N.M.	%
Servicing fees		12,289			12,320			12,045			11,840			11,660			629			5
Amortization of capitalized servicing (1)		(10,791	)		(10,050	)		(14,445	)		(12,285	)		(6,462	)		(4,329	)		(67	)
Other mortgage banking income		4,466			4,109			5,381			9,404			2,959			1,507			51
Sub-total		22,437			22,870			34,763			38,924			15,337			7,100			46
MSR valuation adjustment(1)		15,491			(17,348	)		46,551			(10,389	)		(63,355	)		78,846			N.M.
Net trading (losses) gains related to MSR hedging		(13,310	)		15,913			(50,487	)		6,883			41,271			(54,581	)		N.M.
Total mortgage banking income (loss)	$	24,618		$	21,435		$	30,827		$	35,418		$	(6,747	)	$	31,365			N.M.	%
Mortgage originations(in millions)	$	1,131		$	998		$	1,587		$	1,546		$	724		$	407			56	%
Average trading account securities used to hedge MSRs(in millions)		19			19			20			223			857			(838	)		(98	)
Capitalized mortgage servicing rights (2)		214,592			200,969			219,282			167,838			167,438			47,154			28
Total mortgages serviced for others(in millions) (2)		16,010			16,145			16,246			16,315			15,754			256			2
MSR % of investor servicing portfolio		1.34	%		1.24	%		1.35	%		1.03	%		1.06	%		0.28	%		26
Net Impact of MSR Hedging
MSR valuation adjustment (1)	$	15,491		$	(17,348	)	$	46,551		$	(10,389	)	$	(63,355	)	$	78,846			N.M.	%
Net trading (losses) gains related to MSR hedging		(13,310	)		15,913			(50,487	)		6,883			41,271			(54,581	)		N.M.
Net interest income related to MSR hedging		168			191			199			2,441			9,473			(9,305	)		(98	)
Net impact of MSR hedging	$	2,349		$	(1,244	)	$	(3,737	)	$	(1,065	)	$	(12,611	)	$	14,960			N.M.	%

N.M., not a meaningful value.
(1)	The change in fair value for the period represents the MSR valuation adjustment, net of amortization of capitalized servicing.
(2)	At period end.

7

Huntington Bancshares Incorporated
Quarterly Credit Reserves Analysis
(Unaudited)

	2009												2008
(in thousands)	Fourth			Third			Second			First			Fourth
Allowance for loan and lease losses, beginning of period	$	1,031,971		$	917,680		$	838,549		$	900,227		$	720,738
Loan and lease losses		(471,486	)		(377,443	)		(359,444	)		(353,005	)		(571,053	)
Recoveries of loans previously charged off		26,739			21,501			25,037			11,514			10,433
Net loan and lease losses		(444,747	)		(355,942	)		(334,407	)		(341,491	)		(560,620	)
Provision for loan and lease losses		895,255			472,137			413,538			289,001			728,046
Economic reserve transfer		—			—			—			—			12,063
Allowance of assets sold		—			—			—			(9,188	)		—
Allowance for loans transferred to held-for-sale		—			(1,904	)		—			—			—
Allowance for loan and lease losses, end of period	$	1,482,479		$	1,031,971		$	917,680		$	838,549		$	900,227
Allowance for unfunded loan commitments and letters of credit, beginning of period	$	50,143		$	47,144		$	46,975		$	44,139		$	61,640
(Reduction in) Provision for unfunded loan commitments and letters of credit losses		(1,264	)		2,999			169			2,836			(5,438	)
Economic reserve transfer		—			—			—			—			(12,063	)
Allowance for unfunded loan commitments and letters of credit, end of period	$	48,879		$	50,143		$	47,144		$	46,975		$	44,139
Total allowances for credit losses	$	1,531,358		$	1,082,114		$	964,824		$	885,524		$	944,366
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases		4.03	%		2.77	%		2.38	%		2.12	%		2.19	%
Nonaccrual loans and leases (NALs)		77			47			50			54			60
Nonperforming assets (NPAs)		72			44			46			47			55
Total allowances for credit losses (ACL) as % of:
Total loans and leases		4.16	%		2.90	%		2.51	%		2.24	%		2.30	%
Nonaccrual loans and leases		80			50			53			57			63
Nonperforming assets		74			46			48			50			58

8

Huntington Bancshares Incorporated
Quarterly Net Charge-Off Analysis
(Unaudited)

	2009												2008
(in thousands)	Fourth			Third			Second			First			Fourth
Net charge-offs by loan and lease type:
Commercial and industrial	$	109,816		$	68,842	(1)	$	98,300	(2)	$	210,648	(3)	$	473,426	(4)
Commercial real estate:
Construction		85,345			50,359			31,360			25,642			2,390
Commercial		172,759			118,866			141,261			57,139			35,991
Commercial real estate		258,104			169,225			172,621			82,781			38,381
Total commercial		367,920			238,067			270,921			293,429			511,807
Consumer:
Automobile loans		11,374			8,988			12,379			14,971			14,885
Automobile leases		1,554			1,753			2,227			3,086			3,666
Automobile loans and leases		12,928			10,741			14,606			18,057			18,551
Home equity		35,764			28,045			24,687			17,680			19,168
Residential mortgage (5)		17,789			68,955			17,160			6,298			7,328
Other loans		10,346			10,134			7,033			6,027			3,766
Total consumer		76,827			117,875			63,486			48,062			48,813
Total net charge-offs	$	444,747		$	355,942		$	334,407		$	341,491		$	560,620
Net charge-offs — annualized percentages:
Commercial:
Commercial and industrial(1), (2), (3), (4)		3.49	%		2.13	%		2.91	%		6.22	%		13.78	%
Commercial real estate:
Construction		20.68			11.14			6.45			5.05			0.45
Commercial		10.15			6.72			7.79			2.83			1.77
Commercial real estate		12.21			7.62			7.51			3.27			1.50
Total commercial		7.00			4.37			4.77			4.96			8.54
Consumer:
Automobile loans		1.49			1.25			1.73			1.56			1.53
Automobile leases		2.25			2.04			2.11			2.39			2.31
Automobile loans and leases		1.55			1.33			1.78			1.66			1.64
Home equity		1.89			1.48			1.29			0.93			1.02
Residential mortgage (5)		1.61			6.15			1.47			0.55			0.62
Other loans		5.47			5.36			4.03			3.59			2.22
Total consumer		1.91			2.94			1.56			1.12			1.12
Net charge-offs as a % of average loans		4.80	%		3.76	%		3.43	%		3.34	%		5.41	%

(1)	The 2009 third quarter included net recoveries totaling $4,080 thousand associated with the Franklin restructuring.
(2)	The 2009 second quarter included net recoveries totaling $9,884 thousand associated with the Franklin restructuring.
(3)	The 2009 first quarter included net charge-offs totaling $128,338 thousand associated with the Franklin restructuring.
(4)	The 2008 fourth quarter included net charge-offs totaling $423,269 thousand associated with Franklin.
(5)	Effective with the 2009 third quarter, a change to accelerate the timing for when a partial charge-off is recognized was made. This change resulted in $31,952 thousand of charge-offs in the 2009 third quarter.

9

Huntington Bancshares Incorporated
Quarterly Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)
(Unaudited)

	2009												2008
(in thousands)	December 31,			September 30,			June 30,			March 31,			December 31,
Nonaccrual loans and leases (NALs):
Commercial and industrial(1)	$	578,414		$	612,701		$	456,734		$	398,286		$	932,648
Commercial real estate		935,812			1,133,661			850,846			629,886			445,717
Alt-A mortgages		11,362			9,810			25,861			25,175			21,286
Interest-only mortgages		7,445			8,336			17,428			20,580			12,221
Franklin residential mortgages		299,670			322,796			342,207			360,106			—
Other residential mortgages		44,153			49,579			89,992			81,094			65,444
Total residential mortgages (1)		362,630			390,521			475,488			486,955			98,951
Home equity(1)		40,122			44,182			35,299			37,967			24,831
Total nonaccrual loans and leases		1,916,978			2,181,065			1,818,367			1,553,094			1,502,147
Other real estate, net:
Residential (1)		71,427			81,807			107,954			143,856			63,058
Commercial		68,717			60,784			64,976			66,906			59,440
Total other real estate, net		140,144			142,591			172,930			210,762			122,498
Impaired loans held for sale(2)		969			20,386			11,287			11,887			12,001
Total nonperforming assets	$	2,058,091		$	2,344,042		$	2,002,584		$	1,775,743		$	1,636,646
Nonperforming Franklin loans(1)
Commercial	$	—		$	—		$	—		$	—		$	650,225
Residential mortgage		299,670			322,796			342,207			360,106			—
OREO		23,826			30,996			43,623			79,596			—
Home Equity		15,004			15,704			2,437			6,000			—
Total nonperforming Franklin loans	$	338,500		$	369,496		$	388,267		$	445,702		$	650,225
Nonaccrual loans and leases as a % of total loans and leases (NAL ratio)		5.21	%		5.85	%		4.72	%		3.93	%		3.66	%
NPA ratio(3)		5.57			6.26			5.18			4.46			3.97

	2009												2008
(in thousands)	Fourth			Third			Second			First			Fourth
Nonperforming assets, beginning of period	$	2,344,042		$	2,002,584		$	1,775,743		$	1,636,646		$	675,319
New nonperforming assets		494,607			899,855			750,318			622,515			509,320
Franklin impact, net(1)		(30,996	)		(18,771	)		(57,436	)		(204,523	)		650,225
Returns to accruing status		(85,867	)		(52,498	)		(40,915	)		(36,056	)		(13,756	)
Loan and lease losses		(391,635	)		(305,405	)		(282,713	)		(168,382	)		(95,687	)
OREO losses		(7,394	)		(30,623	)		(20,614	)		(4,034	)		(4,648	)
Payments		(222,790	)		(117,710	)		(95,124	)		(61,452	)		(66,536	)
Sales		(41,876	)		(33,390	)		(26,675	)		(8,971	)		(17,591	)
Nonperforming assets, end of period	$	2,058,091		$	2,344,042		$	2,002,584		$	1,775,743		$	1,636,646

(1)	For the three-month period ended December 31, 2008, Franklin loans were reported as nonaccruing commercial and industrial loans. For the three-month periods ended March 31, 2009, June 30, 2009, September 30, 2009, and December 31, 2009, nonaccruing Franklin loans were reported as residential mortgage loans, home equity loans, and OREO; reflecting the 2009 first quarter restructuring.
(2)	The September 30, 2009, figure primarily represent impaired residential mortgage loans held for sale. All other presented figures represent impaired loans obtained from the Sky Financial acquisition. Held for sale loans are carried at the lower of cost or fair value less costs to sell.
(3)	Nonperforming assets divided by the sum of loans and leases, impaired loans held for sale, and net other real estate.

10

Huntington Bancshares Incorporated
Quarterly Accruing Past Due Loans and Leases and Accruing Restructured Loans
(Unaudited)

	2009												2008
(in thousands)	December 31,			September 30,			June 30,			March 31,			December 31,
Accruing loans and leases past due 90 days or more:
Commercial and industrial	$	—		$	—		$	—		$	—		$	10,889
Commercial real estate		—			2,546			—			—			59,425
Residential mortgage (excluding loans guaranteed by the U.S. government)		78,915			65,716			97,937			88,381			71,553
Home equity		53,343			45,334			35,328			35,717			29,039
Other loans and leases		13,400			14,175			13,474			15,611			18,039
Total, excl. loans guaranteed by the U.S. government	$	145,658		$	127,771		$	146,739		$	139,709		$	188,945
Add: loans guaranteed by U.S. government		101,616			102,895			99,379			88,551			82,576
Total accruing loans and leases past due 90 days or more, including loans guaranteed by the U.S. government	$	247,274		$	230,666		$	246,118		$	228,260		$	271,521
Excluding loans guaranteed by the U.S. government, as a percent of total loans and leases		0.40	%		0.34	%		0.38	%		0.35	%		0.46	%
Guaranteed by U.S. government, as a percent of total loans and leases		0.28	%		0.28	%		0.26	%		0.22	%		0.20	%
Including loans guaranteed by the U.S. government, as a percent of total loans and leases		0.67	%		0.62	%		0.64	%		0.58	%		0.66	%
Accruing restructured loans:
Commercial	$	157,049		$	153,010		$	267,975		$	201,508		$	185,333
Alt-A mortgages		57,278			58,367			46,657			36,642			32,336
Interest-only mortgages		7,890			10,072			12,147			8,500			7,183
Other residential mortgages		154,471			136,024			99,764			62,869			43,338
Total residential mortgages		219,639			204,463			158,568			108,011			82,857
Other		52,871			42,406			35,720			27,014			41,094
Total accruing restructured loans	$	429,559		$	399,879		$	462,263		$	336,533		$	309,284

11

Huntington Bancshares Incorporated
Quarterly Common Stock Summary, Capital, and Other Data
(Unaudited)

Quarterly common stock summary

	2009								2008
(in thousands, except per share amounts)	Fourth		Third		Second		First		Fourth
Common stock price, per share
High(1)	$	4.770	$	4.970	$	6.180	$	8.000	$	11.650
Low (1)		3.500		3.260		1.550		1.000		5.260
Close		3.650		4.710		4.180		1.660		7.660
Average closing price		3.970		4.209		3.727		2.733		8.276
Dividends, per share
Cash dividends declared per common share	$	0.0100	$	0.0100	$	0.0100	$	0.0100	$	0.1325
Common shares outstanding
Average — basic		715,336		589,708		459,246		366,919		366,054
Average — diluted(2)		715,336		589,708		459,246		366,919		366,054
Ending		715,762		714,469		568,741		390,682		366,058
Book value per common share	$	5.10	$	5.59	$	6.23	$	7.80	$	14.62
Tangible book value per common share(3)		4.21		4.69		5.07		6.08		5.64

Capital data

	2009												2008
(in millions)	December 31,			September 30,			June 30,			March 31,			December 31,
Calculation of tangible equity / asset ratio:
Total shareholders’ equity	$	5,336		$	5,675		$	5,221		$	4,815		$	7,229
Less: goodwill		(444	)		(444	)		(448	)		(452	)		(3,055	)
Less: other intangible assets		(289	)		(303	)		(322	)		(340	)		(357	)
Add: related deferred tax liability(3)		101			106			112			119			125
Total tangible equity		4,704			5,034			4,563			4,142			3,942
Less: Preferred equity		(1,688	)		(1,683	)		(1,679	)		(1,768	)		(1,878	)
Total tangible common equity	$	3,016		$	3,351		$	2,884		$	2,374		$	2,064
Total assets	$	51,555		$	52,513		$	51,397		$	51,702		$	54,353
Less: goodwill		(444	)		(444	)		(448	)		(452	)		(3,055	)
Less: other intangible assets		(289	)		(303	)		(322	)		(340	)		(357	)
Add: related deferred tax liability(3)		101			106			112			119			125
Total tangible assets	$	50,923		$	51,872		$	50,739		$	51,029		$	51,066
Tangible equity / tangible asset ratio		9.24	%		9.71	%		8.99	%		8.12	%		7.72	%
Tangible common equity / tangible asset ratio		5.92			6.46			5.68			4.65			4.04
Other capital data:
Total risk-weighted assets	$	43,172		$	44,142		$	45,463		$	46,383		$	46,994
Tier 1 leverage ratio (4)		10.09	%		11.30	%		10.62	%		9.67	%		9.82	%
Tier 1 common risk-based capital ratio(4)		6.70			7.82			6.80			5.63			5.05
Tier 1 risk-based capital ratio (4)		12.05			13.04			11.85			11.14			10.72
Total risk-based capital ratio (4)		14.43			16.23			14.94			14.26			13.91
Tangible equity / risk-weighted assets ratio		10.90			11.41			10.04			8.94			8.39
Other data:
Number of employees (full-time equivalent)		10,272			10,194			10,342			10,540			10,951
Number of domestic full-service banking offices (5)		611			610			610			608			613

(1)	High and low stock prices are intra-day quotes obtained from NASDAQ.
(2)	For all of the quarterly periods presented above, the impact of the convertible preferred stock issued in April of 2008 was excluded from the diluted share calculation because the result would have been higher than basic earnings per common share (anti-dilutive) for the periods.
(3)	Other intangible assets are net of deferred tax liability, and calculated assuming a 35% tax rate.
(4)	Based on an interim decision by the banking agencies on December 14, 2006, Huntington has excluded the impact of adopting Statement 158 from the regulatory capital calculations.
(5)	Includes 9 Private Financial Group offices.

12

Huntington Bancshares Incorporated
Consolidated Annual Average Balance Sheets
(Unaudited)

	Annual Average Balances
Fully taxable equivalent basis				Change from 2008									Change from 2007
(in millions)	2009			Amount			%			2008			Amount			%			2007			2006			2005
Assets
Interest bearing deposits in banks	$	361		$	58			19	%	$	303		$	43			17	%	$	260		$	53		$	53
Trading account securities		145			(945	)		(87	)		1,090			448			70			642			92			207
Federal funds sold and securities purchased under resale agreements		10			(425	)		(98	)		435			(156	)		(26	)		591			321			262
Loans held for sale		582			166			40			416			54			15			362			275			318
Investment securities:
Taxable		6,101			2,223			57			3,878			225			6			3,653			4,197			3,683
Tax-exempt		214			(491	)		(70	)		705			59			9			646			570			475
Total investment securities		6,315			1,732			38			4,583			284			7			4,299			4,767			4,158
Loans and leases: (1)
Commercial:
Commercial and industrial		13,136			(452	)		(3	)		13,588			2,952			28			10,636			7,327			6,171
Commercial real estate:
Construction		1,858			(203	)		(10	)		2,061			528			34			1,533			1,259			1,738
Commercial		7,298			(373	)		(5	)		7,671			2,397			45			5,274			3,279			2,718
Commercial real estate		9,156			(576	)		(6	)		9,732			2,925			43			6,807			4,538			4,456
Total commercial		22,292			(1,028	)		(4	)		23,320			5,877			34			17,443			11,865			10,627
Consumer:
Automobile loans		3,157			(519	)		(14	)		3,676			1,043			40			2,633			2,057			2,043
Automobile leases		389			(462	)		(54	)		851			(634	)		(43	)		1,485			2,031			2,422
Automobile loans and leases		3,546			(981	)		(22	)		4,527			409			10			4,118			4,088			4,465
Home equity		7,590			186			3			7,404			1,231			20			6,173			4,970			4,752
Residential mortgage		4,542			(476	)		(9	)		5,018			79			2			4,939			4,581			4,081
Other loans		722			31			4			691			162			31			529			439			385
Total consumer		16,400			(1,240	)		(7	)		17,640			1,881			12			15,759			14,078			13,683
Total loans and leases		38,692			(2,268	)		(6	)		40,960			7,758			23			33,202			25,943			24,310
Allowance for loan and lease losses		(956	)		(261	)		(38	)		(695	)		(313	)		(82	)		(382	)		(287	)		(268	)
Net loans and leases		37,736			(2,529	)		(6	)		40,265			7,445			23			32,820			25,656			24,042
Total earning assets		46,105			(1,682	)		(4	)		47,787			8,431			21			39,356			31,451			29,308
Cash and due from banks		2,132			1,174			N.M.			958			28			3			930			825			845
Intangible assets		1,402			(2,044	)		(59	)		3,446			1,427			71			2,019			567			218
All other assets		3,757			332			10			3,425			636			23			2,789			2,555			2,536
Total Assets	$	52,440		$	(2,481	)		(5	)%	$	54,921		$	10,209			23	%	$	44,712		$	35,111		$	32,639
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — noninterest bearing	$	6,057		$	962			19	%	$	5,095		$	657			15	%	$	4,438		$	3,530		$	3,379
Demand deposits — interest bearing		4,816			813			20			4,003			874			28			3,129			2,138			1,920
Money market deposits		7,216			1,123			18			6,093			(80	)		(1	)		6,173			5,604			5,738
Savings and other domestic deposits		4,881			(266	)		(5	)		5,147			905			21			4,242			3,232			3,366
Core certificates of deposit		11,944			307			3			11,637			3,431			42			8,206			5,103			3,360
Total core deposits		34,914			2,939			9			31,975			5,787			22			26,188			19,607			17,763
Other domestic deposits of $250,000 or more		841			(802	)		(49	)		1,643			645			65			998			820			673
Brokered deposits and negotiable CDs		3,147			(96	)		(3	)		3,243			4			0			3,239			3,242			3,119
Deposits in foreign offices		487			(488	)		(50	)		975			334			52			641			515			457
Total deposits		39,389			1,553			4			37,836			6,770			22			31,066			24,184			22,012
Short-term borrowings		933			(1,441	)		(61	)		2,374			129			6			2,245			1,800			1,379
Federal Home Loan Bank advances		1,236			(2,045	)		(62	)		3,281			1,254			62			2,027			1,369			1,105
Subordinated notes and other long-term debt		4,321			227			6			4,094			406			11			3,688			3,574			4,064
Total interest bearing liabilities		39,822			(2,668	)		(6	)		42,490			7,902			23			34,588			27,397			25,181
All other liabilities		774			(166	)		(18	)		940			(113	)		(11	)		1,053			1,236			1,434
Shareholders’ equity		5,787			(609	)		(10	)		6,396			1,763			38			4,633			2,948			2,645
Total Liabilities and Shareholders’ Equity	$	52,440		$	(2,481	)		(5	)%	$	54,921		$	10,209			23	%	$	44,712		$	35,111		$	32,639

N.M., not a meaningful value.

⁽¹⁾ For purposes of this analysis, nonaccrual loans are reflected in the average balances of loans.

13

Huntington Bancshares Incorporated
Consolidated Annual Net Interest Margin Analysis
(Unaudited)

	Annual Average Rates (2)
Fully Taxable Equivalent basis(1)	2009			2008			2007			2006			2005
Assets
Interest bearing deposits in banks		0.32	%		2.53	%		4.80	%		6.00	%		2.16	%
Trading account securities		2.99			5.28			5.84			4.19			4.08
Federal funds sold and securities purchased under resale agreements		0.13			2.46			5.05			5.00			2.27
Loans held for sale		5.15			6.01			5.69			6.10			5.64
Investment securities:
Taxable		4.10			5.62			6.07			5.47			4.31
Tax-exempt		6.68			6.83			6.72			6.75			6.71
Total investment securities		4.18			5.81			6.17			5.62			4.58
Loans and leases(3):
Commercial:
Commercial and industrial		5.06			5.67			7.44			7.32			5.88
Commercial real estate:
Construction		2.74			5.05			7.80			8.07			6.42
Commercial		3.59			5.61			7.50			7.45			5.99
Commercial real estate		3.42			5.49			7.57			7.61			6.16
Total commercial		4.39			5.59			7.49			7.43			6.00
Consumer:
Automobile loans		7.24			7.17			7.17			6.57			6.52
Automobile leases		6.18			5.65			5.41			5.07			4.94
Automobile loans and leases		7.12			6.88			6.53			5.82			5.66
Home equity		5.62			6.42			7.77			7.44			6.07
Residential mortgage		5.23			5.83			5.79			5.44			5.22
Other loans		7.78			9.85			10.51			9.07			10.23
Total consumer		5.93			6.50			6.92			6.37			5.80
Total loans and leases		5.04			5.99			7.22			6.86			5.89
Total earning assets		4.88	%		5.90	%		7.02	%		6.63	%		5.65	%
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — noninterest bearing		—	%		—	%		—	%		—	%		—	%
Demand deposits — interest bearing		0.20			0.55			1.29			0.90			0.55
Money market deposits		1.16			1.93			3.77			3.45			2.18
Savings and other domestic deposits		1.37			1.88			2.40			1.75			1.41
Core certificates of deposit		3.43			4.27			4.85			4.25			3.56
Total core deposits		1.97			2.73			3.55			3.02			2.10
Other domestic deposits of $250,000 or more		2.48			3.76			5.08			5.00			3.32
Brokered deposits and negotiable CDs		2.64			3.66			5.41			5.22			3.51
Deposits in foreign offices		0.19			1.56			3.19			2.93			2.10
Total deposits		2.02			2.85			3.85			3.47			2.40
Short-term borrowings		0.25			1.78			4.13			4.01			2.49
Federal Home Loan Bank advances		1.04			3.29			5.06			4.38			3.13
Subordinated notes and other long-term debt		2.88			4.51			5.96			5.65			4.02
Total interest bearing liabilities		2.04			2.98			4.17			3.84			2.70
Net interest rate spread		2.84			2.92			2.85			2.79			2.95
Impact of non-interest bearing funds on margin		0.27			0.33			0.51			0.50			0.38
Net interest margin		3.11	%		3.25	%		3.36	%		3.29	%		3.33	%

(1)	Fully taxable equivalent (FTE) yields are calculated assuming a 35% tax rate. See page 15 for the FTE adjustment.
(2)	Loan and lease and deposit average rates include impact of applicable derivatives and non-deferrable fees.
(3)	For purposes of this analysis, nonaccrual loans are reflected in the average balances of loans.

14

Huntington Bancshares Incorporated
Selected Annual Income Statement Data⁽¹⁾
(Unaudited)

	Year Ended December 31,
				Change from 2008									Change from 2007
(in thousands, except per share amounts)	2009			Amount			%			2008			Amount			%			2007			2006			2005
Interest income	$	2,238,142		$	(560,180	)		(20	)%	$	2,798,322		$	55,359			2	%	$	2,742,963		$	2,070,519		$	1,641,765
Interest expense		813,855			(452,776	)		(36	)		1,266,631			(174,820	)		(12	)		1,441,451			1,051,342			679,354
Net interest income		1,424,287			(107,404	)		(7	)		1,531,691			230,179			18			1,301,512			1,019,177			962,411
Provision for credit losses		2,074,671			1,017,208			96			1,057,463			413,835			64			643,628			65,191			81,299
Net interest (loss) income after provision for credit losses		(650,384	)		(1,124,612	)		N.M.			474,228			(183,656	)		(28	)		657,884			953,986			881,112
Service charges on deposit accounts		302,799			(5,254	)		(2	)		308,053			53,860			21			254,193			185,713			167,834
Brokerage and insurance income		138,169			373			—			137,796			45,421			49			92,375			58,835			53,619
Mortgage banking income		112,298			103,304			N.M.			8,994			(20,810	)		(70	)		29,804			41,491			28,333
Trust services		103,639			(22,341	)		(18	)		125,980			4,562			4			121,418			89,955			77,405
Electronic banking		100,151			9,884			11			90,267			19,200			27			71,067			51,354			44,348
Bank owned life insurance income		54,872			96			—			54,776			4,921			10			49,855			43,775			40,736
Automobile operating lease income		51,810			11,959			30			39,851			32,041			N.M.			7,810			43,115			133,015
Securities losses		(10,249	)		187,121			(95	)		(197,370	)		(167,632	)		N.M.			(29,738	)		(73,191	)		(8,055	)
Other income		152,155			13,364			10			138,791			58,972			74			79,819			120,022			95,047
Total noninterest income		1,005,644			298,506			42			707,138			30,535			5			676,603			561,069			632,282
Personnel costs		700,482			(83,064	)		(11	)		783,546			96,718			14			686,828			541,228			481,658
Outside data processing and other services		148,095			17,869			14			130,226			1,000			1			129,226			80,803			76,436
Deposit and other insurance expense		113,830			91,393			N.M.			22,437			8,652			63			13,785			13,979			18,454
Net occupancy		105,273			(3,155	)		(3	)		108,428			9,055			9			99,373			71,281			71,092
OREO and foreclosure expense		93,899			60,444			N.M.			33,455			18,270			N.M.			15,185			5,478			4,326
Equipment		83,117			(10,848	)		(12	)		93,965			12,483			15			81,482			69,912			63,124
Professional services		76,366			26,753			54			49,613			12,223			33			37,390			24,963			32,373
Amortization of intangibles		68,307			(8,587	)		(11	)		76,894			31,743			70			45,151			9,962			829
Automobile operating lease expense		43,360			12,078			39			31,282			26,121			N.M.			5,161			31,286			103,850
Marketing		33,049			385			1			32,664			(13,379	)		(29	)		46,043			31,728			26,279
Telecommunications		23,979			(1,029	)		(4	)		25,008			506			2			24,502			19,252			18,648
Printing and supplies		15,480			(3,390	)		(18	)		18,870			619			3			18,251			13,864			12,573
Goodwill impairment		2,606,944			2,606,944			N.M.			—			—			—			—			—			—
Gain on early extinguishment of debt(2)		(147,442	)		(123,900	)		N.M.			(23,542	)		(15,484	)		N.M.			(8,058	)		—			—
Other expense		68,704			(25,824	)		(27	)		94,528			(22,997	)		(20	)		117,525			87,258			60,178
Total noninterest expense		4,033,443			2,556,069			N.M.			1,477,374			165,530			13			1,311,844			1,000,994			969,820
(Loss) Income before income taxes		(3,678,183	)		(3,382,175	)		N.M.			(296,008	)		(318,651	)		N.M.			22,643			514,061			543,574
(Benefit) Provision for income taxes		(584,004	)		(401,802	)		N.M.			(182,202	)		(129,676	)		N.M.			(52,526	)		52,840			131,483
Net (loss) income	$	(3,094,179	)		(2,980,373	)		N.M.		$	(113,806	)		(188,975	)		N.M.		$	75,169		$	461,221		$	412,091
Dividends declared on preferred shares		174,756			128,356			N.M.			46,400			46,400			N.M.			—			—			—
Net (loss) income applicable to common shares	$	(3,268,935	)		(3,108,729	)		N.M.		$	(160,206	)		(235,375	)		N.M.		$	75,169		$	461,221		$	412,091
Average common shares — basic		532,802			166,647			46	%		366,155			65,247			22	%		300,908			236,699			230,142
Average common shares — diluted(2)		532,802			166,647			46	%		366,155			62,700			21	%		303,455			239,920			233,475
Per common share
Net (loss) income per common share — basic	$	(6.14	)	$	(5.70	)		N.M.		$	(0.44	)	$	(0.69	)		N.M.		$	0.25		$	1.95		$	1.79
Net (loss) income per common share — diluted		(6.14	)		(5.70	)		N.M.			(0.44	)		(0.69	)		N.M.			0.25			1.92			1.77
Cash dividends declared		0.0400			(0.6225	)		(94	)		0.6625			(0.3975	)		(38	)		1.0600			1.0000			0.8450
Return on average total assets		(5.90	)%		(5.69	)%		N.M.			(0.21	)%		(0.38	)%		N.M.			0.17	%		1.31	%		1.26	%
Return on average total shareholders’ equity		(53.5	)		(51.7	)		N.M.			(1.8	)		(3.4	)		N.M.			1.6			15.6			15.6
Return on average tangible shareholders’ equity(3)		(67.8	)		(65.7	)		N.M.			(2.1	)		(6.0	)		N.M.			3.9			19.5			17.0
Net interest margin(4)		3.11			(0.14	)		(4	)		3.25			(0.11	)		(3	)		3.36			3.29			3.33
Efficiency ratio(5)		55.4			(1.6	)		(3	)		57.0			(5.5	)		(9	)		62.5			59.4			60.0
Effective tax rate (benefit)		(15.9	)		45.7			(74	)		(61.6	)		N.M.			N.M.			N.M.			10.3			24.2
Revenue — fully taxable equivalent (FTE)
Net interest income	$	1,424,287		$	(107,404	)		(7	)%	$	1,531,691		$	230,179			18	%	$	1,301,512		$	1,019,177		$	962,411
FTE adjustment(4)		11,472			(8,746	)		(43	)		20,218			969			5			19,249			16,025			13,393
Net interest income		1,435,759			(116,150	)		(7	)		1,551,909			231,148			18			1,320,761			1,035,202			975,804
Noninterest income		1,005,644			298,506			42			707,138			30,535			5			676,603			561,069			632,282
Total revenue	$	2,441,403		$	182,356			8	%	$	2,259,047		$	261,683			13	%	$	1,997,364		$	1,596,271		$	1,608,086

N.M., not a meaningful value.

(1)	Comparisons for presented periods are impacted by a number of factors. Refer to the “Significant Items” discussion.
(2)	The 2009 gain included $73.6 million related to the purchase of certain subordinated bank notes and $67.4 million related to the purchase of certain trust preferred securities.
(2)	For the years ended December 31, 2009, and December 31, 2008, the impact of the convertible preferred stock issued in April of 2008 was excluded from the diluted share calculation because the result was more than basic earnings per common share (anti-dilutive) for the period.
(3)	Net income excluding expense for amortization of intangibles for the period divided by average tangible shareholders’ equity. Average tangible shareholders’ equity equals average total shareholders’ equity less average intangible assets and goodwill. Expense for amortization of intangibles and average intangible assets are net of deferred tax liability, and calculated assuming a 35% tax rate.
(4)	On a fully taxable equivalent (FTE) basis assuming a 35% tax rate.
(5)	Noninterest expense less amortization of intangibles and goodwill impairment divided by the sum of FTE net interest income and noninterest income excluding securities (losses) gains.

15

Huntington Bancshares Incorporated
Annual Mortgage Banking Income
(Unaudited)

	Year Ended December 31,
(in thousands, except as noted)	2009			2008			2007			2006			2005
Mortgage Banking Income
Origination and secondary marketing	$	94,711		$	37,257		$	25,965		$	18,217		$	24,934
Servicing fees		48,494			45,558			36,012			24,659			22,181
Amortization of capitalized servicing (1)		(47,571	)		(26,634	)		(20,587	)		(15,144	)		(18,359	)
Other mortgage banking income		23,360			16,768			13,198			10,173			8,583
Sub-total		118,994			72,949			54,588			37,905			37,339
MSR valuation adjustment(1)		34,305			(52,668	)		(16,131	)		4,871			4,371
Net trading losses related to MSR hedging		(41,001	)		(11,287	)		(8,653	)		(1,285	)		(13,377	)
Total mortgage banking income	$	112,298		$	8,994		$	29,804		$	41,491		$	28,333
Mortgage originations(in millions)	$	5,262		$	3,773		$	3,493		$	2,822		$	3,284
Average trading account securities used to hedge MSRs(in millions)		70			1,031			594			26			195
Capitalized mortgage servicing rights (2)		214,592			167,438			207,894			131,104			91,259
Total mortgages serviced for others(in millions) (2)		16,010			15,754			15,088			8,252			7,276
MSR % of investor servicing portfolio		1.34	%		1.06	%		1.38	%		1.59	%		1.25	%
Net Impact of MSR Hedging
MSR valuation adjustment (1)	$	34,305		$	(52,668	)	$	(16,131	)	$	4,871		$	4,371
Net trading losses related to MSR hedging		(41,001	)		(11,287	)		(8,653	)		(1,285	)		(13,377	)
Net interest income related to MSR hedging		2,999			33,139			5,797			36			1,688
Net impact of MSR hedging	$	(3,697	)	$	(30,816	)	$	(18,987	)	$	3,622		$	(7,318	)

N.M., not a meaningful value.

(1)	The change in fair value for the period represents the MSR valuation adjustment, net of amortization of capitalized servicing.
(2)	At period end.

16

Huntington Bancshares Incorporated
Annual Credit Reserves Analysis
(Unaudited)

	Year Ended December 31,
(in thousands)	2009			2008			2007			2006			2005
Allowance for loan and lease losses, beginning of period	$	900,227		$	578,442		$	272,068		$	268,347		$	271,211
Acquired allowance for loan and lease losses		—			—			188,128			23,785			—
Loan and lease losses		(1,561,378	)		(806,330	)		(517,942	)		(119,692	)		(115,848	)
Recoveries of loans previously charged off		84,791			48,263			40,311			37,316			35,791
Net loan and lease losses		(1,476,587	)		(758,067	)		(477,631	)		(82,376	)		(80,057	)
Provision for loan and lease losses		2,069,931			1,067,789			628,802			62,312			83,782
Economic reserve transfer		—			12,063			—			—			(6,253	)
Allowance of assets sold		(9,188	)		—			—			—			(336	)
Allowance for loans transferred to held-for-sale		(1,904	)		—			(32,925	)		—			—
Allowance for loan and lease losses, end of period	$	1,482,479		$	900,227		$	578,442		$	272,068		$	268,347
Allowance for unfunded loan commitments and letters of credit, beginning of period	$	44,139		$	66,528		$	40,161		$	36,957		$	33,187
Acquired AULC		—			—			11,541			325			—
Provision for (Reduction in) unfunded loan commitments and letters of credit losses		4,740			(10,326	)		14,826			2,879			(2,483	)
Economic reserve transfer		—			(12,063	)		—			—			6,253
Allowance for unfunded loan commitments and letters of credit, end of period	$	48,879		$	44,139		$	66,528		$	40,161		$	36,957
Total allowances for credit losses	$	1,531,358		$	944,366		$	644,970		$	312,229		$	305,304
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases		4.03	%		2.19	%		1.44	%		1.04	%		1.10	%
Nonaccrual loans and leases (NALs)		77			60			181			189			263
Nonperforming assets (NPAs)		72			55			122			141			229
Total allowances for credit losses (ACL) as % of:
Total loans and leases		4.16	%		2.30	%		1.61	%		1.19	%		1.25	%
Nonaccrual loans and leases (NALs)		80			63			202			217			300
Nonperforming assets (NPAs)		74			58			136			161			261

17

Huntington Bancshares Incorporated
Annual Net Charge-Off Analysis
(Unaudited)

	Year Ended December 31,
(in thousands)	2009			2008			2007			2006			2005
Net charge-offs by loan and lease type:
Commercial:
Commercial and industrial	$	487,606	(1)	$	526,165	(1)	$	345,840	(2)	$	20,868		$	25,000
Commercial real estate:
Construction		192,706			6,626			11,854			3,553			135
Commercial		490,025			62,114			27,250			3,230			4,439
Commercial real estate		682,731			68,740			39,104			6,783			4,574
Total commercial		1,170,337			594,905			384,944			27,651			29,574
Consumer:
Automobile loans		47,712			41,228			17,185			8,330			11,988
Automobile leases		8,620			13,337			10,507			10,445			11,664
Automobile loans and leases		56,332			54,565			27,692			18,775			23,652
Home equity		106,176			67,556			34,426			21,854			17,619
Residential mortgage(3)		110,202			21,247			11,371			4,505			2,332
Other loans		33,540			19,794			19,198			9,591			6,880
Total consumer		306,250			163,162			92,687			54,725			50,483
Total net charge-offs	$	1,476,587		$	758,067		$	477,631		$	82,376		$	80,057
Net charge-offs — annualized percentages:
Commercial:
Commercial and industrial(1), (2)		3.71	%		3.87	%		3.25	%		0.28	%		0.41	%
Commercial real estate:
Construction		10.37			0.32			0.77			0.28			0.01
Commercial		6.71			0.81			0.52			0.10			0.16
Commercial real estate		7.46			0.71			0.57			0.15			0.10
Total commercial		5.25			2.55			2.21			0.23			0.28
Consumer:
Automobile loans		1.51			1.12			0.65			0.40			0.59
Automobile leases		2.22			1.57			0.71			0.51			0.48
Automobile loans and leases		1.59			1.21			0.67			0.46			0.53
Home equity		1.40			0.91			0.56			0.44			0.37
Residential mortgage(3)		2.43			0.42			0.23			0.10			0.06
Other loans		4.65			2.86			3.63			2.18			1.79
Total consumer		1.87			0.92			0.59			0.39			0.37
Net charge-offs as a % of average loans		3.82	%		1.85	%		1.44	%		0.32	%		0.33	%

(1)	2009 and 2008 included net charge-offs associated with the Franklin relationship totaling $114.5 million and $423.3 million, respectively.
(2)	2007 included net charge-offs associated with the Franklin restructuring totaling $397.0 million. These net charge-offs were reduced by the unamortized discount associated with the loans and by other amounts received by Franklin totaling $88.5 million, resulting in net charge-offs totaling $308.5 million.
(3)	Effective with the 2009 third quarter, a change to accelerate the timing for when a partial charge-off is recognized was made. This change resulted in $31,952 thousand of charge-offs in 2009.

18

Huntington Bancshares Incorporated
Annual Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)
(Unaudited)

	December 31,
(in thousands)	2009			2008			2007			2006			2005
Nonaccrual loans and leases (NALs):
Commercial and industrial (1)	$	578,414		$	932,648		$	87,679		$	58,393		$	55,273
Commercial real estate		935,812			445,717			148,467			37,947			18,309
Residential mortgage(1)		362,630			98,951			59,557			32,527			17,613
Home equity(1)		40,122			24,831			24,068			15,266			10,720
Total nonaccrual loans and leases		1,916,978			1,502,147			319,771			144,133			101,915
Other real estate, net:
Residential(1)		71,427			63,058			60,804			47,898			14,214
Commercial		68,717			59,440			14,467			1,589			1,026
Total other real estate, net		140,144			122,498			75,271			49,487			15,240
Impaired loans held for sale(2)		969			12,001			73,481			—			—
Other NPAs(3)		—			—			4,379			—			—
Total nonperforming assets	$	2,058,091		$	1,636,646		$	472,902		$	193,620		$	117,155
Nonperforming Franklin loans(1)
Commercial	$	—		$	650,225		$	—		$	—		$	—
Residential mortgage		299,670			—			—			—			—
OREO		23,826			—			—			—			—
Home Equity		15,004			—			—			—			—
Total nonperforming Franklin loans	$	338,500		$	650,225		$	—		$	—		$	—
Nonaccrual loans and leases as a % of total loans and leases (NAL ratio)		5.21	%		3.66	%		0.80	%		0.55	%		0.42	%
NPA ratio(4)		5.57			3.97			1.18			0.74			0.48
(in thousands)
Nonperforming assets, beginning of period	$	1,636,646		$	472,902			193,620			117,155			108,568
New nonperforming assets		2,767,295			1,082,063			468,056			222,043			171,150
Franklin impact, net(1)		(311,726	)		650,225			—			—			—
Acquired nonperforming assets		—			—			144,492			33,843			—
Returns to accruing status		(215,336	)		(42,161	)		(24,952	)		(43,999	)		(7,547	)
Loan and lease losses		(1,148,135	)		(202,249	)		(120,959	)		(45,648	)		(38,198	)
OREO losses		(62,665	)		(19,582	)		(5,795	)		(543	)		(621	)
Payments		(497,076	)		(194,692	)		(86,093	)		(59,469	)		(64,861	)
Sales		(110,912	)		(109,860	)		(95,467	)		(29,762	)		(51,336	)
Nonperforming assets, end of period	$	2,058,091		$	1,636,646		$	472,902		$	193,620		$	117,155

(1)	Franklin loans were reported as nonaccruing commercial and industrial loans at December 31, 2008. At December 31, 2009, nonaccruing Franklin loans were reported as residential mortgage loans, home equity loans, and OREO, reflecting the 2009 first quarter restructuring.
(2)	Represents impaired loans obtained from the Sky Financial acquisition. Held for sale loans are carried at the lower of cost or fair value less costs to sell.
(3)	Other NPAs represent certain investment securities backed by mortgage loans to borrowers with lower FICO scores.
(4)	Nonperforming assets divided by the sum of loans and leases, impaired loans held for sale, net other real estate, and other NPAs.

19