Huntington Bancshares (HBAN) 8-K Results of Operations and Financial Condition

EXHIBIT 99.2

HUNTINGTON BANCSHARES INCORPORATED
Quarterly Financial Review
March 2007

Table of Contents

Consolidated Balance Sheets	1
Loans and Leases Composition	2
Deposit Composition	3
Consolidated Quarterly Average Balance Sheets	4
Consolidated Quarterly Net Interest Margin Analysis	5
Quarterly Average Loans and Leases and Deposit Composition By Business Segment	6
Selected Quarterly Income Statement Data	7
Quarterly Mortgage Banking Income and Net Impact of MSR Hedging	8
Quarterly Credit Reserves Analysis	9
Quarterly Net Charge-Off Analysis	10
Quarterly Non-Performing Assets and Past Due Loans and Leases	11
Quarterly Stock Summary, Capital, and Other Data	12

Note:

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.

Huntington Bancshares Incorporated
Consolidated Balance Sheets

										Change
	2007			2006						March ’07 vs ’06
(in thousands, except number of shares)	March 31,			December 31,			March 31,			Amount			Percent
	(Unaudited)						(Unaudited)
Assets
Cash and due from banks	$	867,256		$	1,080,163		$	797,258		$	69,998			8.8	%
Federal funds sold and securities purchased under resale agreements		701,951			440,584			349,098			352,853			N.M.
Interest bearing deposits in banks		100,416			74,168			23,204			77,212			N.M.
Trading account securities		76,631			36,056			111,208			(34,577	)		(31.1	)
Loans held for sale		277,538			270,422			311,138			(33,600	)		(10.8	)
Investment securities		3,724,676			4,362,924			5,034,359			(1,309,683	)		(26.0	)
Loans and leases (1)		26,266,747			26,153,425			26,145,589			121,158			0.5
Allowance for loan and lease losses		(282,976	)		(272,068	)		(283,839	)		863			(0.3	)
Net loans and leases		25,983,771			25,881,357			25,861,750			122,021			0.5
Bank owned life insurance		1,097,986			1,089,028			1,060,305			37,681			3.6
Premises and equipment		377,687			372,772			375,740			1,947			0.5
Goodwill		569,779			570,876			579,246			(9,467	)		(1.6	)
Other intangible assets		57,165			59,487			60,563			(3,398	)		(5.6	)
Accrued income and other assets		1,144,443			1,091,182			1,102,040			42,403			3.8
Total Assets	$	34,979,299		$	35,329,019		$	35,665,909		$	(686,610	)		(1.9	)%
Liabilities and Shareholders’ Equity
Liabilities
Deposits(2)	$	24,585,893		$	25,047,770		$	24,555,163		$	30,730			0.1	%
Short-term borrowings		1,577,732			1,676,189			1,687,536			(109,804	)		(6.5	)
Federal Home Loan Bank advances		1,197,411			996,821			1,658,486			(461,075	)		(27.8	)
Other long-term debt		2,173,818			2,229,140			2,035,576			138,242			6.8
Subordinated notes		1,280,870			1,286,657			1,283,359			(2,489	)		(0.2	)
Allowance for unfunded loan commitments and letters of credit		40,541			40,161			39,301			1,239			3.2
Deferred federal income tax liability		396,005			443,921			685,559			(289,554	)		(42.2	)
Accrued expenses and other liabilities		675,669			594,034			640,749			34,921			5.5
Total Liabilities		31,927,939			32,314,693			32,585,729			(657,790	)		(2.0	)
Shareholders’ equity
Preferred stock — authorized 6,617,808 shares; none outstanding		—			—			—			—			—
Common stock — without par value; authorized 500,000,000 shares; issued 257,866,255 shares; outstanding 235,713,500; 235,474,366 and 245,183,441 shares, respectively.		2,563,426			2,560,569			2,548,185			15,241			0.6
Less 22,152,755; 22,391,889 and 12,682,814 treasury shares at cost, respectively		(501,578	)		(506,946	)		(273,120	)		(228,458	)		83.6
Accumulated other comprehensive loss		(59,509	)		(55,066	)		(31,434	)		(28,075	)		89.3
Retained earnings		1,049,021			1,015,769			836,549			212,472			25.4
Total Shareholders’ Equity		3,051,360			3,014,326			3,080,180			(28,820	)		(0.9	)
Total Liabilities and Shareholders’ Equity	$	34,979,299		$	35,329,019		$	35,665,909		$	(686,610	)		(1.9	)%

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

												Change
	2007				2006							March ’07 vs ’06
(in thousands)	March 31,				December 31,			March 31,				Amount			Percent
	(Unaudited)							(Unaudited)
By Type
Commercial:
Middle market commercial and industrial	$	6,164,569	23.5	%	$	5,961,445	22.8	$	5,331,497	20.4	%	$	833,072			15.6	%
Middle market commercial real estate:
Construction		1,187,664	4.5			1,228,641	4.7		1,371,266	5.2			(183,602	)		(13.4	)
Commercial		2,807,063	10.7			2,722,599	10.4		3,075,731	11.8			(268,668	)		(8.7	)
Middle market commercial real estate		3,994,727	15.2			3,951,240	15.1		4,446,997	17.0			(452,270	)		(10.2	)
Small business		2,474,955	9.4			2,441,837	9.3		2,039,537	7.8			435,418			21.3
Total commercial		12,634,251	48.1			12,354,522	47.2		11,818,031	45.2			816,220			6.9
Consumer:
Automobile loans		2,251,215	8.6			2,125,821	8.1		2,053,777	7.9			197,438			9.6
Automobile leases		1,623,758	6.2			1,769,424	6.8		2,154,883	8.2			(531,125	)		(24.6	)
Home equity		4,914,462	18.7			4,926,900	18.8		5,094,490	19.5			(180,028	)		(3.5	)
Residential mortgage		4,405,944	16.8			4,548,849	17.4		4,604,705	17.6			(198,761	)		(4.3	)
Other loans		437,117	1.6			427,909	1.7		419,703	1.6			17,414			4.1
Total consumer		13,632,496	51.9			13,798,903	52.8		14,327,558	54.8			(695,062	)		(4.9	)
Total loans and leases	$	26,266,747	100.0		$	26,153,425	100.0	$	26,145,589	100.0		$	121,158			0.5
By Business Segment(1)
Regional Banking:
Central Ohio	$	3,605,917	13.7	%	$	3,602,463	13.8	$	3,364,371	12.9	%	$	241,546			7.2	%
Northern Ohio		2,723,164	10.4			2,609,155	10.0		2,545,353	9.7			177,811			7.0
Southern Ohio / Kentucky		2,159,407	8.2			2,190,115	8.4		2,121,113	8.1			38,294			1.8
Eastern Ohio		1,260,388	4.8			1,295,011	5.0		1,825,830	7.0			(565,442	)		(31.0	)
West Michigan		2,453,300	9.3			2,421,085	9.3		2,372,578	9.1			80,722			3.4
East Michigan		1,647,751	6.3			1,630,050	6.2		1,536,365	5.9			111,386			7.2
West Virginia		1,109,197	4.2			1,123,817	4.3		967,453	3.7			141,744			14.7
Indiana		971,186	3.7			962,575	3.7		977,597	3.7			(6,411	)		(0.7	)
Mortgage and equipment leasing groups		3,563,762	13.6			3,577,440	13.5		3,482,733	13.3			81,029			2.3
Regional Banking		19,494,072	74.2			19,411,711	74.2		19,193,393	73.4			300,679			1.6
Dealer Sales		4,903,370	18.7			4,908,765	18.8		5,218,940	20.0			(315,570	)		(6.0	)
Private Financial and Capital Markets Group		1,869,305	7.1			1,832,949	7.0		1,733,256	6.6			136,049			7.8
Treasury / Other		—	—			—	—		—	—			—			—
Total loans and leases	$	26,266,747	100.0	%	$	26,153,425	100.0	$	26,145,589	100.0	%	$	121,158			0.5	%

⁽¹⁾ Prior period amounts have been reclassified to conform to the current period business segment structure.

2

Huntington Bancshares Incorporated
Deposit Composition

													Change
	2007				2006								March ’07 vs ’06
(in thousands)	March 31,				December 31,				March 31,				Amount			Percent
	(Unaudited)								(Unaudited)
By Type
Demand deposits - non-interest bearing	$	3,696,231	15.0	%	$	3,615,745	14.4	%	$	3,776,790	15.4	%	$	(80,559	)		(2.1)	%
Demand deposits - interest bearing		2,486,304	10.1			2,389,085	9.5			2,209,617	9.0			276,687			12.5
Money market deposits		5,568,104	22.6			5,362,459	21.4			5,467,201	22.3
Savings and other domestic deposits		2,879,098	11.7			2,986,287	11.9			3,585,840	14.6			(706,742	)		(19.7	)
Core certificates of deposit		5,408,289	22.0			5,364,610	21.4			4,949,259	20.2			459,030			9.3
Total core deposits		20,038,026	81.4			19,718,186	78.6			19,988,707	81.5			49,319			0.2
Other domestic deposits of $100,000 or more		1,287,186	5.2			1,191,984	4.8			1,033,447	4.2			253,739			24.6
Brokered deposits and negotiable CDs		2,721,927	11.1			3,345,943	13.4			3,081,211	12.5			(359,284	)		(11.7	)
Deposits in foreign offices		538,754	2.3			791,657	3.2			451,798	1.8			86,956			19.2
Total deposits	$	24,585,893	100.0	%	$	25,047,770	100.0	%	$	24,555,163	100.0	%	$	30,730			0.1	%
Total core deposits:
Commercial	$	6,314,309	31.5	%	$	6,063,372	30.8	%	$	5,994,233	30.0	%	$	320,076			5.3	%
Personal		13,723,717	68.5			13,654,814	69.2			13,994,474	70.0			(270,757	)		(1.9	)
Total core deposits	$	20,038,026	100.0	%	$	19,718,186	100.0	%	$	19,988,707	100.0	%	$	49,319			0.2	%
By Business Segment(1)
Regional Banking:
Central Ohio	$	5,042,229	20.5	%	$	4,981,010	19.9	%	$	5,053,564	20.6	%	$	(11,335	)		(0.2)	%
Northern Ohio		3,673,519	14.9			3,576,832	14.3			3,598,318	14.7			75,201			2.1
Southern Ohio / Kentucky		2,353,129	9.6			2,275,880	9.1			2,233,266	9.1			119,863			5.4
Eastern Ohio		1,668,203	6.8			1,711,287	6.8			1,762,394	7.2			(94,191	)		(5.3	)
West Michigan		2,826,489	11.5			2,757,434	11.0			2,830,631	11.5			(4,142	)		(0.1	)
East Michigan		2,460,100	10.0			2,418,450	9.7			2,258,352	9.2			201,748			8.9
West Virginia		1,547,095	6.3			1,515,999	6.1			1,534,469	6.2			12,626			0.8
Indiana		903,119	3.7			819,106	3.3			809,102	3.3			94,017			11.6
Mortgage and equipment leasing groups		163,456	0.7			171,946	0.7			153,486	0.6			9,970			6.5
Regional Banking		20,637,339	83.9			20,227,944	80.8			20,233,582	82.4			403,757			2.0
Dealer Sales		54,645	0.2			58,719	0.2			63,728	0.3			(9,083	)		(14.3	)
Private Financial and Capital Markets Group		1,171,982	4.8			1,165,164	4.7			1,176,642	4.8			(4,660	)		(0.4	)
Treasury / Other (2)		2,721,927	11.1			3,595,943	14.3			3,081,211	12.5			(359,284	)		(11.7	)
Total deposits	$	24,585,893	100.0	%	$	25,047,770	100.0	%	$	24,555,163	100.0	%	$	30,730			0.1	%

⁽¹⁾ Prior period amounts have been reclassified to conform to the current period business segment structure.

⁽²⁾ Comprised largely of brokered deposits and negotiable CDs.

3

Huntington Bancshares Incorporated
Consolidated Quarterly Average Balance Sheets
(Unaudited)

																Change
Fully taxable equivalent basis	2007			2006												1Q07 vs 1Q06
(in millions)	First			Fourth			Third			Second			First			Amount			Percent
Assets
Interest bearing deposits in banks	$	93		$	77		$	75		$	36		$	24		$	69			N.M.	%
Trading account securities		48			116			96			100			66			(18	)		(27.3	)
Federal funds sold and securities purchased under resale agreements		503			531			266			285			201			302			N.M.
Loans held for sale		242			265			275			287			274			(32	)		(11.7	)
Investment securities:
Taxable		3,595			3,792			4,364			4,494			4,138			(543	)		(13.1	)
Tax-exempt		591			594			581			556			548			43			7.8
Total investment securities		4,186			4,386			4,945			5,050			4,686			(500	)		(10.7	)
Loans and leases: (1)
Commercial:
Middle market commercial and industrial		6,070			5,882			5,651			5,512			5,174			896			17.3
Middle market commercial real estate:
Construction		1,151			1,170			1,129			1,248			1,457			(306	)		(21.0	)
Commercial		2,772			2,839			2,846			2,845			2,464			308			12.5
Middle market commercial real estate		3,923			4,009			3,975			4,093			3,921			2			0.1
Small business		2,466			2,421			2,413			2,351			2,035			431			21.2
Total commercial		12,459			12,312			12,039			11,956			11,130			1,329			11.9
Consumer:
Automobile loans		2,215			2,111			2,079			2,044			1,994			221			11.1
Automobile leases		1,698			1,838			1,976			2,095			2,221			(523	)		(23.5	)
Automobile loans and leases		3,913			3,949			4,055			4,139			4,215			(302	)		(7.2	)
Home equity		4,913			4,973			5,041			5,029			4,833			80			1.7
Residential mortgage		4,496			4,635			4,748			4,629			4,306			190			4.4
Other loans		422			430			430			448			447			(25	)		(5.6	)
Total consumer		13,744			13,987			14,274			14,245			13,801			(57	)		(0.4	)
Total loans and leases		26,203			26,299			26,313			26,201			24,931			1,272			5.1
Allowance for loan and lease losses		(278	)		(282	)		(291	)		(293	)		(283	)		5			1.8
Net loans and leases		25,925			26,017			26,022			25,908			24,648			1,277			5.2
Total earning assets		31,275			31,674			31,970			31,959			30,182			1,093			3.6
Cash and due from banks		826			830			823			832			813			13			1.6
Intangible assets		627			631			634			638			362			265			73.2
All other assets		2,480			2,617			2,633			2,554			2,415			65			2.7
Total Assets	$	34,930		$	35,470		$	35,769		$	35,690		$	33,489		$	1,441			4.3	%
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — non-interest bearing	$	3,530		$	3,580		$	3,509		$	3,594		$	3,436		$	94			2.7	%
Demand deposits — interest bearing		2,349			2,219			2,169			2,187			1,974			375			19.0
Money market deposits		5,489			5,548			5,689			5,591			5,588			(99	)		(1.8	)
Savings and other domestic deposits		2,827			2,849			2,923			3,106			3,095			(268	)		(8.7	)
Core certificates of deposit		5,455			5,380			5,334			5,083			4,389			1,066			24.3
Total core deposits		19,650			19,576			19,624			19,561			18,482			1,168			6.3
Other domestic deposits of $100,000 or more		1,219			1,282			1,141			1,086			938			281			30.0
Brokered deposits and negotiable CDs		3,020			3,252			3,307			3,263			3,143			(123	)		(3.9	)
Deposits in foreign offices		562			598			521			474			465			97			20.9
Total deposits		24,451			24,708			24,593			24,384			23,028			1,423			6.2
Short-term borrowings		1,863			1,832			1,660			2,042			1,669			194			11.6
Federal Home Loan Bank advances		1,128			1,121			1,349			1,557			1,453			(325	)		(22.4	)
Subordinated notes and other long-term debt		3,487			3,583			3,921			3,428			3,346			141			4.2
Total interest bearing liabilities		27,399			27,664			28,014			27,817			26,060			1,339			5.1
All other liabilities		987			1,142			1,276			1,284			1,264			(277	)		(21.9	)
Shareholders’ equity		3,014			3,084			2,970			2,995			2,729			285			10.4
Total Liabilities and Shareholders’ Equity	$	34,930		$	35,470		$	35,769		$	35,690		$	33,489		$	1,441			4.3	%

N.M., not a meaningful value.
(1)	For purposes of this analysis, non-accrual loans are reflected in the average balances of loans.

4

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

	Average Rates(2)
	2007			2006
Fully taxable equivalent basis(1)	First			Fourth			Third			Second			First
Assets
Interest bearing deposits in banks		5.13	%		5.50	%		5.23	%		7.05	%		7.89	%
Trading account securities		5.27			4.10			4.32			4.51			2.94
Federal funds sold and securities purchased under resale agreements		5.24			5.35			5.13			4.75			4.30
Loans held for sale		6.27			6.01			6.24			6.23			5.92
Investment securities:
Taxable		6.13			6.05			5.49			5.34			5.04
Tax-exempt		6.66			6.68			6.80			6.83			6.71
Total investment securities		6.21			6.13			5.64			5.51			5.23
Loans and leases: (3)
Commercial:
Middle market commercial and industrial		7.48			7.55			7.40			7.49			7.08
Middle market commercial real estate:
Construction		8.41			8.37			8.49			8.02			7.56
Commercial		7.64			7.57			7.86			6.92			6.25
Middle market commercial real estate		7.87			7.80			8.05			7.25			6.74
Small business		7.24			7.18			7.13			6.94			6.57
Total commercial		7.56			7.56			7.56			7.30			6.87
Consumer:
Automobile loans		6.92			6.75			6.62			6.48			6.40
Automobile leases		5.25			5.21			5.10			5.01			4.97
Automobile loans and leases		6.25			6.03			5.88			5.74			5.65
Home equity		7.67			7.75			7.62			7.46			6.88
Residential mortgage		5.54			5.55			5.46			5.39			5.34
Other loans		9.52			9.28			9.41			9.21			8.38
Total consumer		6.58			6.58			6.46			6.35			6.08
Total loans and leases		7.05			7.04			6.96			6.79			6.43
Total earning assets		6.98	%		6.86	%		6.73	%		6.55	%		6.21	%
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits - non-interest bearing		—	%		—	%		—	%		—	%		—	%
Demand deposits - interest bearing		1.21			1.04			0.97			0.86			0.72
Money market deposits		3.78			3.75			3.66			3.32			3.05
Savings and other domestic deposits		2.02			1.90			1.75			1.59			1.49
Core certificates of deposit		4.72			4.58			4.40			4.10			3.84
Total core deposits		3.41			3.32			3.20			2.89			2.65
Other domestic deposits of $100,000 or more		5.32			5.29			5.18			4.83			4.55
Brokered deposits and negotiable CDs		5.50			5.53			5.50			5.12			4.69
Deposits in foreign offices		2.99			3.18			3.12			2.68			2.62
Total deposits		3.81			3.78			3.66			3.34			3.07
Short-term borrowings		4.32			4.21			4.10			4.12			3.57
Federal Home Loan Bank advances		4.44			4.50			4.51			4.34			3.99
Subordinated notes and other long-term debt		5.77			5.96			5.75			5.67			5.22
Total interest bearing liabilities		4.14	%		4.12	%		4.02	%		3.74	%		3.43	%
Net interest rate spread		2.84	%		2.74	%		2.71	%		2.81	%		2.78	%
Impact of non-interest bearing funds on margin		0.52			0.54			0.51			0.53			0.54
Net interest margin		3.36	%		3.28	%		3.22	%		3.34	%		3.32	%

(1)	Fully taxable equivalent (FTE) yields are calculated assuming a 35% tax rate. See page 7 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, non-accrual loans are reflected in the average balances of loans.

5

Huntington Bancshares Incorporated
Quarterly Average Loans and Leases and Deposit
     Composition By Business Segment
(Unaudited)

	Average Balances										Change
	2007		2006								1Q07 vs 1Q06
(in millions)	First		Fourth		Third		Second		First		Amount			Percent
Loans and direct financing leases (1)
Regional Banking:
Central Ohio	$	3,633	$	3,667	$	3,673	$	3,608	$	3,184	$	449			14.1	%
Northern Ohio		2,656		2,635		2,649		2,602		2,512		144			5.7
Southern Ohio / Kentucky		2,181		2,171		2,191		2,190		2,092		89			4.3
Eastern Ohio		1,283		1,311		1,384		1,477		873		410			47.0
West Michigan		2,441		2,439		2,408		2,386		2,362		79			3.3
East Michigan		1,626		1,609		1,585		1,559		1,550		76			4.9
West Virginia		1,106		1,114		1,084		1,021		965		141			14.6
Indiana		959		991		944		973		1,018		(59	)		(5.8	)
Mortgage and equipment leasing groups		3,554		3,607		3,610		3,494		3,465		89			2.6
Regional Banking		19,439		19,544		19,528		19,310		18,021		1,418			7.9
Dealer Sales		4,917		4,915		4,972		5,134		5,183		(266	)		(5.1	)
Private Financial and Capital Markets Group		1,847		1,840		1,813		1,757		1,727		120			6.9
Treasury / Other		—		—		—		—		—		—			—
Total loans and direct financing leases	$	26,203	$	26,299	$	26,313	$	26,201	$	24,931	$	1,272			5.1	%
Deposit composition (1)
Regional Banking:
Central Ohio	$	4,822	$	4,798	$	4,776	$	4,806	$	4,597	$	225			4.9	%
Northern Ohio		3,636		3,603		3,625		3,544		3,607		29			0.8
Southern Ohio / Kentucky		2,285		2,229		2,193		2,244		2,058		227			11.0
Eastern Ohio		1,679		1,728		1,744		1,754		989		690			69.8
West Michigan		2,790		2,818		2,897		2,803		2,791		(1	)		(0.0	)
East Michigan		2,431		2,370		2,313		2,254		2,254		177			7.9
West Virginia		1,533		1,522		1,501		1,499		1,472		61			4.1
Indiana		870		922		825		821		746		124			16.6
Mortgage and equipment leasing groups		175		196		183		189		162		13			8.0
Regional Banking		20,221		20,186		20,057		19,914		18,676		1,545			8.3
Dealer Sales		52		56		59		57		59		(7	)		(11.9	)
Private Financial and Capital Markets Group		1,146		1,172		1,143		1,146		1,150		(4	)		(0.3	)
Treasury / Other		3,032		3,294		3,334		3,267		3,143		(111	)		(3.5	)
Total deposits	$	24,451	$	24,708	$	24,593	$	24,384	$	23,028	$	1,423			6.2	%

⁽¹⁾ Prior period amounts have been reclassified to conform to the current period business segment structure.

6

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

	2007			2006												1Q07 vs 1Q06
(in thousands, except per share amounts)	First			Fourth			Third			Second			First				Amount			Percent
Interest income	$	534,949		$	544,841		$	538,988		$	521,903		$	464,787			$	70,162			15.1	%
Interest expense		279,394			286,852			283,675			259,708			221,107				58,287			26.4
Net interest income		255,555			257,989			255,313			262,195			243,680				11,875			4.9
Provision for credit losses		29,406			15,744			14,162			15,745			19,540				9,866			50.5
Net interest income after provision for credit losses		226,149			242,245			241,151			246,450			224,140				2,009			0.9
Service charges on deposit accounts		44,793			48,548			48,718			47,225			41,222				3,571			8.7
Trust services		25,894			23,511			22,490			22,676			21,278				4,616			21.7
Brokerage and insurance income		16,082			14,600			14,697			14,345			15,193				889			5.9
Other service charges and fees		13,208			13,784			12,989			13,072			11,509				1,699			14.8
Bank owned life insurance income		10,851			10,804			12,125			10,604			10,242				609			5.9
Mortgage banking income		9,351			6,169			8,512			13,616			13,194				(3,843	)		(29.1	)
Gains on sales of automobile loans		1,144			1,252			863			532			448				696			N.M.
Securities gains (losses)		104			(15,804	)		(57,332	)		(35	)		(20	)			124			N.M.
Other income(2)		23,750			37,742			34,848			40,984			46,468				(22,718	)		(48.9	)
Total non-interest income		145,177			140,606			97,910			163,019			159,534				(14,357	)		(9.0	)
Personnel costs		134,639			137,944			133,823			137,904			131,557				3,082			2.3
Outside data processing and other services		21,814			20,695			18,664			19,569			19,851				1,963			9.9
Net occupancy		19,908			17,279			18,109			17,927			17,966				1,942			10.8
Equipment		18,219			18,151			17,249			18,009			16,503				1,716			10.4
Marketing		7,696			6,207			7,846			10,374			7,301				395			5.4
Professional services		6,482			8,958			6,438			6,292			5,365				1,117			20.8
Telecommunications		4,126			4,619			4,818			4,990			4,825				(699	)		(14.5	)
Printing and supplies		3,242			3,610			3,416			3,764			3,074				168			5.5
Amortization of intangibles		2,520			2,993			2,902			2,992			1,075				1,445			N.M.
Other expense(2)		23,426			47,334			29,165			30,538			30,898				(7,472	)		(24.2	)
Total non-interest expense		242,072			267,790			242,430			252,359			238,415				3,657			1.5
Income before income taxes		129,254			115,061			96,631			157,110			145,259				(16,005	)		(11.0	)
Provision (benefit) for income taxes(6)		33,528			27,346			(60,815	)		45,506			40,803				(7,275	)		(17.8	)
Net income	$	95,726		$	87,715		$	157,446		$	111,604		$	104,456			$	(8,730	)		(8.4	)%
Average common shares — diluted		238,754			239,881			240,896			244,538			234,363				4,391			1.9	%
Per common share
Net income — diluted	$	0.40		$	0.37		$	0.65		$	0.46		$	0.45			$	(0.05	)		(11.1	)
Cash dividends declared		0.265			0.250			0.250			0.250			0.250				0.015			6.0
Return on average total assets		1.11	%		0.98	%		1.75	%		1.25	%		1.26	%			(0.15	)%		(11.9	)
Return on average total shareholders’ equity		12.9			11.3			21.0			14.9			15.5				(2.6	)		(16.8	)
Return on average tangible shareholders’ equity(3)		16.5			14.5			27.1			19.3			18.0				(1.5	)		(8.3	)
Net interest margin(4)		3.36			3.28			3.22			3.34			3.32				0.04			1.2
Efficiency ratio(5)		59.2			63.3			57.8			58.1			58.3				0.9			1.5
Effective tax rate		25.9			23.8			(62.9	)		29.0			28.1				(2.2	)		(7.8	)
Revenue — fully taxable equivalent (FTE)
Net interest income	$	255,555		$	257,989		$	255,313		$	262,195		$	243,680			$	11,875			4.9
FTE adjustment		4,047			4,115			4,090			3,984			3,836				211			5.5
Net interest income (4)		259,602			262,104			259,403			266,179			247,516				12,086			4.9
Non-interest income		145,177			140,606			97,910			163,019			159,534				(14,357	)		(9.0	)
Total revenue(4)	$	404,779		$	402,710		$	357,313		$	429,198		$	407,050			$	(2,271	)		(0.6	)%

N.M., not a meaningful value.

(1)	Comparisons for presented periods are impacted by a number of factors. Refer to the ‘Significant Factors Influencing Financial Performance Comparisions’ for additional discussion regarding these key factors.
(2)	Automobile operating lease income and expense is included in ‘Other Income’ and ‘Other Expense’, respectively.
(3)	Net income less expense (net of tax) for amortization of intangibles for the period divided by average tangible common shareholder’s equity. Average tangible common sharedholders’ equity equals average total common shareholders’ equity less average indentifiable intangible assets and goodwill.
(4)	On a fully taxable equivalent (FTE) basis assuming a 35% tax rate.
(5)	Non-interest expense less amortization of intangibles divided by the sum of FTE net interest income and non-interest income excluding securities gains (losses).
(6)	Includes an $84.5 million benefit reflecting the resolution of a federal income tax audit of tax years 2002 and 2003.

7

Huntington Bancshares Incorporated
Quarterly Mortgage Banking Income and Net Impact of MSR Hedging
(Unaudited)

	2007			2006												1Q07 vs 1Q06
(in thousands)	First			Fourth			Third			Second			First				Amount			Percent
Mortgage Banking Income
Origination and secondary marketing	$	4,940		$	4,057		$	3,070		$	7,091		$	3,999			$	941			23.5	%
Servicing fees		6,820			6,662			6,077			5,995			5,925				895			15.1
Amortization of capitalized servicing (1)		(3,638	)		(3,835	)		(4,484	)		(3,293	)		(3,532	)			(106	)		(3.0	)
Other mortgage banking income		3,247			1,778			3,887			2,281			2,227				1,020			45.8
Sub-total		11,369			8,662			8,550			12,074			8,619				2,750			31.9
MSR valuation adjustment(1)		(1,057	)		(1,907	)		(10,716	)		8,281			9,213				(10,270	)		N.M.
Net trading gains (losses) related to MSR hedging		(961	)		(586	)		10,678			(6,739	)		(4,638	)			3,677			(79.3	)
Total mortgage banking income (loss)	$	9,351		$	6,169		$	8,512		$	13,616		$	13,194			$	(3,843	)		(29.1	)%
Capitalized mortgage servicing rights (2)	$	134,845		$	131,104		$	129,317		$	136,244		$	123,257			$	11,588			9.4	%
Total mortgages serviced for others(2)		8,494,000			8,252,000			7,994,000			7,725,000			7,585,000				909,000			12.0
MSR % of investor servicing portfolio		1.59	%		1.59	%		1.62	%		1.76	%		1.63	%			(0.04	)%		(2.5	)

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.

8

Huntington Bancshares Incorporated
Quarterly Credit Reserves Analysis
(Unaudited)

	2007			2006
(in thousands)	First			Fourth			Third			Second			First
Allowance for loan and lease losses, beginning of period	$	272,068		$	280,152		$	287,517		$	283,839		$	268,347
Acquired allowance for loan and lease losses		—			—			100	(1)		1,498	(1)		22,187
Loan and lease losses		(27,813	)		(32,835	)		(29,127	)		(24,325	)		(33,405	)
Recoveries of loans previously charged off		9,695			9,866			7,888			10,373			9,189
Net loan and lease losses		(18,118	)		(22,969	)		(21,239	)		(13,952	)		(24,216	)
Provision for loan and lease losses		29,026			14,885			13,774			16,132			17,521
Allowance for loan and lease losses, end of period	$	282,976		$	272,068		$	280,152		$	287,517		$	283,839
Allowance for unfunded loan commitments and letters of credit, beginning of period	$	40,161		$	39,302		$	38,914		$	39,301		$	36,957
Acquired AULC		—			—			—			—			325
Provision for unfunded loan commitments and letters of credit losses		380			859			388			(387	)		2,019
Allowance for unfunded loan commitments and letters of credit, end of period	$	40,541		$	40,161		$	39,302		$	38,914		$	39,301
Total allowances for credit losses	$	323,517		$	312,229		$	319,454		$	326,431		$	323,140
Allowance for loan and lease losses (ALLL) as % of:
Transaction reserve		0.89	%		0.86	%		0.86	%		0.89	%		0.88	%
Economic reserve		0.19			0.18			0.20			0.20			0.21
Total loans and leases		1.08	%		1.04	%		1.06	%		1.09	%		1.09	%
Non-performing loans and leases (NPLs)		180			189			217			213			209
Non-performing assets (NPAs)		137			141			164			168			183
Total allowances for credit losses (ACL) as % of:
Total loans and leases		1.23	%		1.19	%		1.21	%		1.24	%		1.24	%
Non-performing loans and leases		206			217			247			241			238
Non-performing assets		157			161			187			191			209

⁽¹⁾ Represents an adjustment of the allowance and corresponding adjustment to loan balances resulting from the Unizan merger.

9

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

	2007			2006
(in thousands)	First			Fourth			Third			Second			First
Net charge-offs (recoveries) by loan and lease type:
Commercial:
Middle market commercial and industrial	$	(11	)	$	(1,827	)	$	1,742		$	(484	)	$	6,887
Middle market commercial real estate:
Construction		9			3,957			(2	)		(161	)		(241	)
Commercial		377			144			644			1,557			210
Middle market commercial real estate		386			4,101			642			1,396			(31	)
Small business		2,089			4,535			4,451			2,530			3,709
Total commercial		2,464			6,809			6,835			3,442			10,565
Consumer:
Automobile loans		2,853			2,422			1,759			1,172			2,977
Automobile leases		2,201			2,866			2,306			1,758			3,515
Automobile loans and leases		5,054			5,288			4,065			2,930			6,492
Home equity		5,968			5,820			6,734			4,776			4,524
Residential mortgage		1,931			2,226			876			688			715
Other loans		2,701			2,826			2,729			2,116			1,920
Total consumer		15,654			16,160			14,404			10,510			13,651
Total net charge-offs	$	18,118		$	22,969		$	21,239		$	13,952		$	24,216
Net charge-offs (recoveries) — annualized percentages:
Commercial:
Middle market commercial and industrial		—	%		(0.12	)%		0.12	%		(0.04	)%		0.53	%
Middle market commercial real estate:
Construction		—			1.35			—			(0.05	)		(0.07	)
Commercial		0.05			0.02			0.09			0.22			0.03
Middle market commercial real estate		0.04			0.41			0.06			0.14			—
Small business		0.34			0.75			0.74			0.43			0.73
Total commercial		0.08			0.22			0.23			0.12			0.38
Consumer:
Automobile loans		0.52			0.46			0.34			0.23			0.60
Automobile leases		0.52			0.62			0.47			0.34			0.63
Automobile loans and leases		0.52			0.54			0.40			0.28			0.62
Home equity		0.49			0.47			0.53			0.38			0.37
Residential mortgage		0.17			0.19			0.07			0.06			0.07
Other loans		2.56			2.63			2.54			1.89			1.72
Total consumer		0.46			0.46			0.40			0.30			0.40
Net charge-offs as a % of average loans		0.28	%		0.35	%		0.32	%		0.21	%		0.39	%

10

Huntington Bancshares Incorporated
Quarterly Non-Performing Assets and Past Due Loans and Leases
(Unaudited)

	2007			2006
(in thousands)	March 31,			December 31,			September 30,			June 30,			March 31,
Non-accrual loans and leases:
Middle market commercial and industrial	$	32,970		$	35,657		$	37,082		$	45,713		$	45,723
Middle market commercial real estate		42,458			34,831			27,538			24,970			18,243
Small business		30,015			25,852			21,356			27,328			28,389
Residential mortgage		35,491			32,527			30,289			22,786			29,376
Home equity		16,396			15,266			13,047			14,466			13,778
Total non-performing loans and leases		157,330			144,133			129,312			135,263			135,509
Other real estate, net:
Residential		47,762			47,898			40,615			34,743			17,481
Commercial		1,586			1,589			1,285			1,062			1,903
Total other real estate, net		49,348			49,487			41,900			35,805			19,384
Total non-performing assets	$	206,678		$	193,620		$	171,212		$	171,068		$	154,893
Non-performing loans and leases guaranteed by the U.S. government (1)	$	28,748		$	33,858		$	33,676		$	30,710		$	18,256
Non-performing loans and leases as a % of total loans and leases		0.60	%		0.55	%		0.49	%		0.51	%		0.52	%
Non-performing assets as a % of total loans and leases and other real estate		0.79			0.74			0.65			0.65			0.59
Accruing loans and leases past due 90 days or more (1)	$	70,179		$	59,114		$	62,054		$	48,829		$	52,297
Accruing loans and leases past due 90 days or more as a percent of total loans and leases		0.27	%		0.23	%		0.24	%		0.19	%		0.20	%

	2007			2006
(in thousands)	First			Fourth			Third			Second			First
Non-performing assets, beginning of period	$	193,620		$	171,212		$	171,068		$	154,893		$	117,155
New non-performing assets (1)		51,588			60,287			55,490			52,498			53,768
Acquired non-performing assets		—			—			—			—			33,843
Returns to accruing status		(6,176	)		(5,666	)		(11,880	)		(12,143	)		(14,310	)
Loan and lease losses		(9,072	)		(11,908	)		(14,143	)		(6,826	)		(13,314	)
Payments		(18,086	)		(16,673	)		(16,709	)		(12,892	)		(13,195	)
Sales		(5,196	)		(3,632	)		(12,614	)		(4,462	)		(9,054	)
Non-performing assets, end of period	$	206,678		$	193,620		$	171,212		$	171,068		$	154,893

⁽¹⁾ Beginning in the second quarter of 2006, OREO includes balances of loans in foreclosure which are fully guaranteed by the U.S. Government that were reported in 90 day past due loans and leases in prior periods.

11

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

Quarterly common stock summary

	2007		2006
(in thousands, except per share amounts)	First		Fourth		Third		Second		First
Common stock price, per share
High(1)	$	24.140	$	24.970	$	24.820	$	24.410	$	24.750
Low (1)		21.610		22.870		23.000		23.120		22.560
Close		21.850		23.750		23.930		23.580		24.130
Average closing price		23.117		24.315		23.942		23.732		23.649
Dividends, per share
Cash dividends declared on common stock	$	0.265	$	0.250	$	0.250	$	0.250	$	0.250
Common shares outstanding
Average — basic		235,586		236,426		237,672		241,729		230,968
Average — diluted		238,754		239,881		240,896		244,538		234,363
Ending		235,714		235,474		237,921		237,361		245,183
Book value per share	$	12.95	$	12.80	$	13.15	$	12.38	$	12.56
Tangible book value per share		10.29		10.12		10.50		9.70		9.95
Common share repurchases
Number of shares repurchased		—		3,050		—		8,100		4,831

Capital adequacy

	2007			2006
(in millions)	March 31,			December 31,			September 30,			June 30,			March 31,
Total risk-weighted assets (2)	$	31,508		$	31,155		$	31,330		$	31,614		$	31,298
Tier 1 leverage ratio (2)		8.24	%		8.00	%		7.99	%		7.62	%		8.53	%
Tier 1 risk-based capital ratio (2)		8.97			8.93			8.95			8.45			8.94
Total risk-based capital ratio (2)		12.80			12.79			12.81			12.29			12.91
Tangible equity / asset ratio		7.06			6.87			7.13			6.46			6.97
Tangible equity / risk-weighted assets ratio (2)		7.69			7.65			7.97			7.29			7.80
Average equity / average assets		8.63			8.70			8.30			8.39			8.15
Other data
Number of employees (full-time equivalent)		7,863			8,081			8,077			8,075			8,078
Number of domestic full-service banking offices (3)		375			381			381			379			385

(1)	High and low stock prices are intra-day quotes obtained from NASDAQ.
(2)	March 31, 2007 figures are estimated. Based on an interim decision by the banking agencies on December 14, 2006, Huntington has excluded the impact of adopting FAS 158 from the regulatory capital calculations.
(3)	Includes Private Financial Group offices in Florida.

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