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

Exhibit 99.2

HUNTINGTON BANCSHARES INCORPORATED
Quarterly Financial Review
December 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	8
Quarterly Credit Reserves Analysis	9
Quarterly Net Charge-Off Analysis	10
Quarterly Nonaccrual Loans (NALs), Nonperforming Assets (NPAs) and Past Due Loans and Leases	11
Quarterly 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 (NALs), Nonperforming Assets (NPAs) and Past Due Loans and Leases	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.

This document reflects the post-Sky merger organization structure effective on July 1, 2007. Accordingly, the balances presented include the impact of the acquisition from that date.

Contents

Huntington Bancshares Incorporated
Consolidated Balance Sheets

										Change
	2007						2006			December ’07 vs ’06
(in thousands, except number of shares)	December 31,			September 30,			December 31,			Amount			Percent
	(Unaudited)			(Unaudited)
Assets
Cash and due from banks	$	1,416,597		$	1,201,981		$	1,080,163		$	336,434			31.1	%
Federal funds sold and securities purchased under resale agreements		592,649			431,244			440,584			152,065			34.5
Interest bearing deposits in banks		340,090			288,841			74,168			265,922			N.M.
Trading account securities		1,032,745			1,034,240			36,056			996,689			N.M.
Loans held for sale		494,379			479,853			270,422			223,957			82.8
Investment securities		4,500,171			4,288,974			4,362,924			137,247			3.1
Loans and leases (1)		40,054,338			39,987,240			26,153,425			13,900,913			53.2
Allowance for loan and lease losses		(578,442	)		(454,784	)		(272,068	)		(306,374	)		N.M.
Net loans and leases		39,475,896			39,532,456			25,881,357			13,594,539			52.5
Bank owned life insurance		1,313,281			1,302,363			1,089,028			224,253			20.6
Premises and equipment		557,565			547,380			372,772			184,793			49.6
Goodwill		3,059,333			2,995,961			570,876			2,488,457			N.M.
Other intangible assets		427,970			443,446			59,487			368,483			N.M.
Accrued income and other assets		1,486,792			2,757,187			1,091,182			395,610			36.3
Total Assets	$	54,697,468		$	55,303,927		$	35,329,019		$	19,368,449			54.8	%
Liabilities and Shareholders’ Equity
Liabilities
Deposits(2)	$	37,742,921		$	38,404,365		$	25,047,770		$	12,695,151			50.7	%
Short-term borrowings		2,843,638			2,227,116			1,676,189			1,167,449			69.6
Federal Home Loan Bank advances		3,085,348			2,716,265			996,821			2,088,527			N.M.
Other long-term debt		1,937,078			1,974,387			2,229,140			(292,062	)		(13.1	)
Subordinated notes		1,932,483			1,919,625			1,286,657			645,826			50.2
Accrued expenses and other liabilities		1,206,860			1,812,495			1,078,116			128,744			11.9
Total Liabilities		48,748,328			49,054,253			32,314,693			16,433,635			50.9
Shareholders’ equity
Preferred stock — authorized 6,617,808 shares; none outstanding		—			—			—			—			—
Common stock -
No par value and authorized 500,000,000 shares; issued 257,866,255 shares; outstanding 235,474,366 shares		—			—			2,560,569
Par value of $0.01 and authorized 1,000,000,000 shares at December 31, 2007; issued 387,504,687 shares; outstanding 366,261,676 and 365,898,439 shares, respectively		3,875			3,875			—			3,875			—
Capital surplus		5,703,316			5,700,961			—
Less 21,243,011; 21,606,248 and 22,391,889 treasury shares at cost, respectively		(480,129	)		(489,062	)		(506,946	)		26,817			(5.3	)
Accumulated other comprehensive loss		(49,611	)		(74,101	)		(55,066	)		5,455			(9.9	)
Retained earnings		771,689			1,108,001			1,015,769			(244,080	)		(24.0	)
Total Shareholders’ Equity		5,949,140			6,249,674			3,014,326			2,934,814			97.4
Total Liabilities and Shareholders’ Equity	$	54,697,468		$	55,303,927		$	35,329,019		$	19,368,449			54.8	%

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				December ’07 vs ’06
(in thousands)	December 31,				September 30,				December 31,				Amount			Percent
	(Unaudited)				(Unaudited)
By Type
Commercial:
Middle market commercial and industrial	$	10,158,136	25.4	%	$	10,200,357	25.5	%	$	5,961,445	22.8	%	$	4,196,691			70.4	%
Middle market commercial real estate:
Construction		1,946,381	4.9			1,856,792	4.6			1,228,641	4.7			717,740			58.4
Commercial		5,857,436	14.6			5,686,297	14.2			2,722,599	10.4			3,134,837			N.M.
Middle market commercial real estate		7,803,817	19.5			7,543,089	18.8			3,951,240	15.1			3,852,577			97.5
Small business		4,346,664	10.8			4,355,252	10.8			2,441,837	9.3			1,904,827			78.0
Total commercial		22,308,617	55.7			22,098,698	55.1			12,354,522	47.2			9,954,095			80.6
Consumer:
Automobile loans		3,114,029	7.8			2,959,913	7.4			2,125,821	8.1			988,208			46.5
Automobile leases		1,179,505	2.9			1,365,805	3.4			1,769,424	6.8			(589,919	)		(33.3	)
Home equity		7,290,063	18.2			7,317,545	18.4			4,926,900	18.8			2,363,163			48.0
Residential mortgage		5,447,126	13.6			5,505,340	13.8			4,548,849	17.4			898,277			19.7
Other loans		714,998	1.8			739,939	1.9			427,909	1.7			287,089			67.1
Total consumer		17,745,721	44.3			17,888,542	44.9			13,798,903	52.8			3,946,818			28.6
Total loans and leases	$	40,054,338	100.0		$	39,987,240	100.0		$	26,153,425	100.0		$	13,900,913			53.2
By Business Segment
Regional Banking:
Central Ohio	$	5,110,270	12.8	%	$	4,993,373	12.5	%	$	3,569,706	13.6	%	$	1,540,564			43.2	%
Northwest Ohio		2,284,141	5.7			2,342,088	5.9			461,622	1.8			1,822,519			N.M.
Greater Cleveland		3,097,120	7.7			3,057,757	7.6			1,920,421	7.3			1,176,699			61.3
Greater Akron/Canton		2,020,447	5.0			2,078,588	5.2			1,326,374	5.1			694,073			52.3
Southern Ohio/Kentucky		2,659,870	6.6			2,547,800	6.4			2,190,115	8.4			469,755			21.4
Mahoning Valley		927,918	2.3			939,739	2.4			—	—			927,918			—
Ohio Valley		870,276	2.2			869,139	2.2			—	—			870,276			—
West Michigan		2,477,617	6.2			2,520,325	6.3			2,421,085	9.3			56,532			2.3
East Michigan		1,750,171	4.4			1,760,158	4.4			1,630,050	6.2			120,121			7.4
Western Pennsylvania		1,053,685	2.6			1,106,068	2.8			—	—			1,053,685			—
Pittsburgh		900,789	2.2			888,848	2.2			—	—			900,789			—
Central Indiana		1,421,116	3.5			1,419,693	3.6			962,575	3.7			458,541			47.6
West Virginia		1,155,719	2.9			1,125,628	2.8			1,123,817	4.3			31,902			2.8
Other Regional		6,176,485	15.4			6,409,470	16.1			3,805,947	14.5			2,370,538			62.3
Regional Banking		31,905,624	79.7			32,058,674	80.2			19,411,712	74.2			12,493,912			64.4
Dealer Sales		5,563,415	13.9			5,449,580	13.6			4,908,764	18.8			654,651			13.3
Private Financial and Capital Markets Group		2,585,299	6.4			2,478,986	6.2			1,832,949	7.0			752,350			41.0
Treasury / Other		—	—			—	—			—	—			—			—
Total loans and leases	$	40,054,338	100.0	%	$	39,987,240	100.0	%	$	26,153,425	100.0	%	$	13,900,913			53.2	%

N.M., not a meaningful value.

2

Huntington Bancshares Incorporated
Deposit Composition

													Change
	2007								2006				December ’07 vs ’06
(in thousands)	December 31,				September 30,				December 31,				Amount			Percent
	(Unaudited)				(Unaudited)
By Type
Demand deposits — non-interest bearing	$	5,371,747	14.2	%	$	4,984,663	13.0	%	$	3,615,745	14.4	%	$	1,756,002			48.6	%
Demand deposits — interest bearing		4,048,873	10.7			3,982,102	10.4			2,389,085	9.5			1,659,788			69.5
Money market deposits		6,643,242	17.6			6,721,963	17.5			5,362,459	21.4			1,280,783			23.9
Savings and other domestic deposits		4,773,944	12.6			4,877,476	12.7			2,986,287	11.9			1,787,657			59.9
Core certificates of deposit		10,736,146	28.4			10,611,821	27.6			5,364,610	21.4			5,371,536			N.M.
Total core deposits		31,573,952	83.5			31,178,025	81.2			19,718,186	78.6			11,855,766			60.1
Other domestic deposits of $100,000 or more		2,065,401	5.5			1,914,417	5.0			1,191,984	4.8			873,417			73.3
Brokered deposits and negotiable CDs		3,376,854	8.9			3,701,726	9.6			3,345,943	13.4			30,911			0.9
Deposits in foreign offices		726,714	2.1			1,610,197	4.2			791,657	3.2			(64,943	)		(8.2	)
Total deposits	$	37,742,921	100.0	%	$	38,404,365	100.0	%	$	25,047,770	100.0	%	$	12,695,151			50.7	%
Total core deposits:
Commercial	$	9,017,852	28.6	%	$	9,017,474	28.9	%	$	6,063,372	30.8	%	$	2,954,480			48.7	%
Personal		22,556,100	71.4			22,160,551	71.1			13,654,814	69.2			8,901,286			65.2
Total core deposits	$	31,573,952	100.0	%	$	31,178,025	100.0	%	$	19,718,186	100.0	%	$	11,855,766			60.1	%
By Business Segment
Regional Banking:
Central Ohio	$	6,332,143	16.8	%	$	5,931,926	15.4	%	$	5,013,367	20.0	%	$	1,318,776			26.3	%
Northwest Ohio		2,837,735	7.5			2,841,442	7.4			1,043,918	4.2			1,793,817			N.M.
Greater Cleveland		3,194,780	8.5			3,071,014	8.0			1,995,203	8.0			1,199,577			60.1
Greater Akron/Canton		2,636,564	7.0			2,629,397	6.8			1,894,707	7.6			741,857			39.2
Southern Ohio/Kentucky		2,628,766	7.0			2,626,166	6.8			2,275,880	9.1			352,886			15.5
Mahoning Valley		1,550,676	4.1			1,540,095	4.0			—	—			1,550,676			—
Ohio Valley		1,289,027	3.4			1,374,947	3.6			—	—			1,289,027			—
West Michigan		2,919,926	7.7			2,966,558	7.7			2,757,434	11.0			162,492			5.9
East Michigan		2,442,354	6.5			2,420,169	6.3			2,418,450	9.7			23,904			1.0
Western Pennsylvania		1,643,483	4.4			1,663,174	4.3			—	—			1,643,483			—
Pittsburgh		948,451	2.5			933,468	2.4			—	—			948,451			—
Central Indiana		1,896,433	5.0			1,910,530	5.0			819,106	3.3			1,077,327			N.M.
West Virginia		1,589,903	4.2			1,559,864	4.1			1,515,999	6.1			73,904			4.9
Other Regional		771,261	2.0			612,620	1.6			493,879	2.0			277,382			56.2
Regional Banking		32,681,502	86.6			32,081,370	83.5			20,227,943	80.8			12,453,559			61.6
Dealer Sales		58,196	0.2			63,399	0.2			58,719	0.2			(523	)		(0.9	)
Private Financial and Capital Markets Group		1,626,043	4.3			1,630,675	4.2			1,167,751	4.7			458,292			39.2
Treasury / Other (1)		3,377,180	8.9			4,628,921	12.1			3,593,357	14.3			(216,177	)		(6.0	)
Total deposits	$	37,742,921	100.0	%	$	38,404,365	100.0	%	$	25,047,770	100.0	%	$	12,695,151			50.7	%

N.M., not a meaningful value.
(1)	Comprised largely of national market deposits.

3

Huntington Bancshares Incorporated
Consolidated Quarterly Average Balance Sheets
(Unaudited)

							Average Balances									Change
Fully taxable equivalent basis	2007												2006			4Q07 vs 4Q06
(in millions)	Fourth			Third			Second			First			Fourth			Amount			Percent
Assets
Interest bearing deposits in banks	$	324		$	292		$	259		$	93		$	77		$	247			N.M.	%
Trading account securities		1,122			1,149			230			48			116			1,006			N.M.
Federal funds sold and securities purchased under resale agreements		730			557			574			503			531			199			37.5
Loans held for sale		493			419			291			242			265			228			86.0
Investment securities:
Taxable		3,807			3,951			3,253			3,595			3,792			15			0.4
Tax-exempt		689			675			629			591			594			95			16.0
Total investment securities		4,496			4,626			3,882			4,186			4,386			110			2.5
Loans and leases: (1)
Commercial:
Middle market commercial and industrial		10,359			10,301			6,209			6,070			5,882			4,477			76.1
Middle market commercial real estate:
Construction		1,858			1,782			1,245			1,151			1,170			688			58.8
Commercial		5,761			5,623			2,865			2,772			2,839			2,922			N.M.
Middle market commercial real estate		7,619			7,405			4,110			3,923			4,009			3,610			90.0
Small business		4,345			4,310			2,499			2,466			2,421			1,924			79.5
Total commercial		22,323			22,016			12,818			12,459			12,312			10,011			81.3
Consumer:
Automobile loans		3,052			2,931			2,322			2,215			2,111			941			44.6
Automobile leases		1,272			1,423			1,551			1,698			1,838			(566	)		(30.8	)
Automobile loans and leases		4,324			4,354			3,873			3,913			3,949			375			9.5
Home equity		7,297			7,468			4,973			4,913			4,973			2,324			46.7
Residential mortgage		5,437			5,456			4,351			4,496			4,635			802			17.3
Other loans		728			534			424			422			430			298			69.3
Total consumer		17,786			17,812			13,621			13,744			13,987			3,799			27.2
Total loans and leases		40,109			39,828			26,439			26,203			26,299			13,810			52.5
Allowance for loan and lease losses		(474	)		(475	)		(297	)		(278	)		(282	)		(192	)		(68.1	)
Net loans and leases		39,635			39,353			26,142			25,925			26,017			13,618			52.3
Total earning assets		47,274			46,871			31,675			31,275			31,674			15,600			49.3
Cash and due from banks		1,098			1,111			748			826			830			268			32.3
Intangible assets		3,440			3,337			626			627			631			2,809			N.M.
All other assets		3,142			3,124			2,398			2,480			2,617			525			20.1
Total Assets	$	54,480		$	53,968		$	35,150		$	34,930		$	35,470		$	19,010			53.6	%
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits - non-interest bearing	$	5,218		$	5,384		$	3,591		$	3,530		$	3,580		$	1,638			45.8	%
Demand deposits - interest bearing		3,929			3,808			2,404			2,349			2,219			1,710			77.1
Money market deposits		6,845			6,869			5,466			5,489			5,548			1,297			23.4
Savings and other domestic deposits		4,813			5,043			2,863			2,827			2,849			1,964			68.9
Core certificates of deposit		10,674			10,425			5,591			5,455			5,380			5,294			98.4
Total core deposits		31,479			31,529			19,915			19,650			19,576			11,903			60.8
Other domestic deposits of $100,000 or more		1,930			1,694			1,124			1,219			1,282			648			50.5
Brokered deposits and negotiable CDs		3,518			3,728			2,682			3,020			3,252			266			8.2
Deposits in foreign offices		748			701			552			562			598			150			25.1
Total deposits		37,675			37,652			24,273			24,451			24,708			12,967			52.5
Short-term borrowings		2,489			2,542			2,075			1,863			1,832			657			35.9
Federal Home Loan Bank advances		3,070			2,553			1,329			1,128			1,121			1,949			N.M.
Subordinated notes and other long-term debt		3,875			3,912			3,470			3,487			3,583			292			8.1
Total interest bearing liabilities		41,891			41,275			27,556			27,399			27,664			14,227			51.4
All other liabilities		1,160			1,103			960			987			1,142			18			1.6
Shareholders’ equity		6,211			6,206			3,043			3,014			3,084			3,127			N.M.
Total Liabilities and Shareholders’ Equity	$	54,480		$	53,968		$	35,150		$	34,930		$	35,470		$	19,010			53.6	%

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)	Fourth			Third			Second			First			Fourth
Assets
Interest bearing deposits in banks		4.30	%		4.69	%		6.47	%		5.13	%		5.50	%
Trading account securities		5.72			6.01			5.74			5.27			4.10
Federal funds sold and securities purchased under resale agreements		4.59			5.26			5.28			5.24			5.35
Loans held for sale		5.86			5.13			5.79			6.27			6.01
Investment securities:
Taxable		5.98			6.09			6.11			6.13			6.05
Tax-exempt		6.74			6.78			6.69			6.66			6.68
Total investment securities		6.10			6.19			6.20			6.21			6.13
Loans and leases: (3)
Commercial:
Middle market commercial and industrial		6.80			7.77			7.39			7.48			7.55
Middle market commercial real estate:
Construction		7.21			7.67			7.62			8.41			8.37
Commercial		6.98			7.60			7.34			7.64			7.57
Middle market commercial real estate		7.04			7.62			7.42			7.87			7.80
Small business		7.43			7.55			7.30			7.24			7.18
Total commercial		7.00			7.68			7.38			7.56			7.56
Consumer:
Automobile loans		7.31			7.25			7.10			6.92			6.75
Automobile leases		5.52			5.56			5.34			5.25			5.21
Automobile loans and leases		6.78			6.70			6.39			6.25			6.03
Home equity		7.81			7.94			7.63			7.67			7.75
Residential mortgage		5.88			6.06			5.61			5.54			5.55
Other loans		10.91			11.48			9.57			9.52			9.28
Total consumer		7.10			7.17			6.69			6.58			6.58
Total loans and leases		7.05			7.45			7.03			7.05			7.04
Total earning assets		6.88	%		7.25	%		6.92	%		6.98	%		6.86	%
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — non-interest bearing		—	%		—	%		—	%		—	%		—	%
Demand deposits — interest bearing		1.14			1.53			1.22			1.21			1.04
Money market deposits		3.67			3.78			3.85			3.78			3.75
Savings and other domestic deposits		2.43			2.50			2.16			2.02			1.90
Core certificates of deposit		4.83			4.99			4.79			4.72			4.58
Total core deposits		3.54			3.69			3.49			3.41			3.32
Other domestic deposits of $100,000 or more		5.00			4.81			5.30			5.32			5.29
Brokered deposits and negotiable CDs		5.24			5.42			5.53			5.50			5.53
Deposits in foreign offices		3.27			3.29			3.16			2.99			3.18
Total deposits		3.80			3.94			3.84			3.81			3.78
Short-term borrowings		3.74			4.10			4.50			4.32			4.21
Federal Home Loan Bank advances		5.03			5.31			4.76			4.44			4.50
Subordinated notes and other long-term debt		5.93			6.15			5.96			5.77			5.96
Total interest bearing liabilities		4.09	%		4.24	%		4.20	%		4.14	%		4.12	%
Net interest rate spread		2.79	%		3.01	%		2.72	%		2.84	%		2.74	%
Impact of non-interest bearing funds on margin		0.47			0.51			0.54			0.52			0.54
Net interest margin		3.26	%		3.52	%		3.26	%		3.36	%		3.28	%

(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, nonaccrual 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		4Q07 vs 4Q06
(in millions)	Fourth		Third		Second		First		Fourth		Amount		Percent
Loans and direct financing leases(1)
Regional Banking:
Central Ohio	$	5,011	$	4,910	$	3,644	$	3,601	$	3,615	$	1,396		38.6	%
Northwest Ohio		2,318		2,331		452		455		469		1,849		N.M.
Greater Cleveland		3,079		2,993		2,064		1,964		1,942		1,137		58.5
Greater Akron/Canton		2,037		2,024		1,328		1,326		1,337		700		52.4
Southern Ohio/Kentucky		2,576		2,527		2,205		2,181		2,171		405		18.7
Mahoning Valley		925		871		—		—		—		925		—
Ohio Valley		867		759		—		—		—		867		—
West Michigan		2,470		2,484		2,447		2,441		2,439		31		1.3
East Michigan		1,767		1,750		1,639		1,626		1,609		158		9.8
Western Pennsylvania		1,092		1,069		—		—		—		1,092		—
Pittsburgh		896		912		—		—		—		896		—
Central Indiana		1,397		1,406		982		959		991		406		41.0
West Virginia		1,135		1,163		1,128		1,106		1,114		21		1.9
Other Regional		6,500		6,754		3,774		3,780		3,859		2,641		68.4
Regional Banking		32,070		31,953		19,663		19,439		19,546		12,524		64.1
Dealer Sales		5,515		5,376		4,888		4,917		4,913		602		12.3
Private Financial and Capital Markets Group		2,524		2,499		1,888		1,847		1,840		684		37.2
Treasury / Other		—		—		—		—		—		—		—
Total loans and direct financing leases	$	40,109	$	39,828	$	26,439	$	26,203	$	26,299	$	13,810		52.5	%
Deposit composition(1)
Regional Banking:
Central Ohio	$	6,169	$	6,026	$	4,962	$	4,889	$	4,908	$	1,261		25.7	%
Northwest Ohio		2,825		2,856		1,070		1,061		1,010		1,815		N.M.
Greater Cleveland		3,089		2,969		2,024		2,005		2,068		1,021		49.4
Greater Akron/Canton		2,634		2,613		1,898		1,903		1,890		744		39.4
Southern Ohio/Kentucky		2,644		2,564		2,333		2,285		2,229		415		18.6
Mahoning Valley		1,550		1,562		—		—		—		1,550		—
Ohio Valley		1,345		1,380		—		—		—		1,345		—
West Michigan		2,925		2,868		2,784		2,790		2,818		107		3.8
East Michigan		2,404		2,423		2,397		2,431		2,370		34		1.4
Western Pennsylvania		1,655		1,695		—		—		—		1,655		—
Pittsburgh		946		943		—		—		—		946		—
Central Indiana		1,940		1,831		854		870		922		1,018		N.M.
West Virginia		1,567		1,562		1,535		1,533		1,522		45		3.0
Other Regional		759		861		537		452		446		313		70.2
Regional Banking		32,452		32,153		20,394		20,219		20,183		12,269		60.8
Dealer Sales		59		56		55		52		56		3		5.4
Private Financial and Capital Markets Group		1,629		1,645		1,142		1,148		1,174		455		38.8
Treasury / Other		3,535		3,798		2,682		3,032		3,295		240		7.3
Total deposits	$	37,675	$	37,652	$	24,273	$	24,451	$	24,708	$	12,967		52.5	%

N.M., not a meaningful value.
(1)	Prior period amounts have been reclassified to conform to the current period presentation.

6

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

	2007												2006			4Q07 vs 4Q06
(in thousands, except per share amounts)	Fourth			Third			Second			First			Fourth			Amount			Percent
Interest income	$	814,398		$	851,155		$	542,461		$	534,949		$	544,841		$	269,557			49.5	%
Interest expense		431,465			441,522			289,070			279,394			286,852			144,613			50.4
Net interest income		382,933			409,633			253,391			255,555			257,989			124,944			48.4
Provision for credit losses		512,082			42,007			60,133			29,406			15,744			496,338			N.M.
Net interest (loss) income after provision for credit losses		(129,149	)		367,626			193,258			226,149			242,245			(371,394	)		N.M.
Service charges on deposit accounts		81,276			78,107			50,017			44,793			48,548			32,728			67.4
Trust services		35,198			33,562			26,764			25,894			23,511			11,687			49.7
Brokerage and insurance income		30,288			28,806			17,199			16,082			14,600			15,688			N.M.
Other service charges and fees		21,891			21,045			14,923			13,208			13,784			8,107			58.8
Bank owned life insurance income		13,253			14,847			10,904			10,851			10,804			2,449			22.7
Mortgage banking income		3,702			9,629			7,122			9,351			6,169			(2,467	)		(40.0	)
Securities (losses) gains		(11,551	)		(13,152	)		(5,139	)		104			(15,804	)		4,253			(26.9	)
Other income(2)		(3,500	)		31,830			34,403			24,894			38,994			(42,494	)		N.M.
Total non-interest income		170,557			204,674			156,193			145,177			140,606			29,951			21.3
Personnel costs		214,850			202,148			135,191			134,639			137,944			76,906			55.8
Outside data processing and other services		39,130			40,600			25,701			21,814			20,695			18,435			89.1
Net occupancy		26,714			33,334			19,417			19,908			17,279			9,435			54.6
Equipment		22,816			23,290			17,157			18,219			18,151			4,665			25.7
Amortization of intangibles		20,163			19,949			2,519			2,520			2,993			17,170			N.M.
Marketing		16,175			13,186			8,986			7,696			6,207			9,968			N.M.
Professional services		14,464			11,273			8,101			6,482			8,958			5,506			61.5
Telecommunications		8,513			7,286			4,577			4,126			4,619			3,894			84.3
Printing and supplies		6,594			4,743			3,672			3,242			3,610			2,984			82.7
Other expense(2)		70,133			29,754			19,334			23,426			47,334			22,799			48.2
Total non-interest expense		439,552			385,563			244,655			242,072			267,790			171,762			64.1
(Loss) Income before income taxes		(398,144	)		186,737			104,796			129,254			115,061			(513,205	)		N.M.
(Benefit) Provision for income taxes		(158,864	)		48,535			24,275			33,528			27,347			(186,211	)		N.M.
Net (loss) income	$	(239,280	)	$	138,202		$	80,521		$	95,726		$	87,714		$	(326,994	)		N.M.	%
Average common shares - diluted		366,119			368,280			239,008			238,754			239,881			126,238			52.6	%
Per common share
Net (loss) income - diluted	$	(0.65	)	$	0.38		$	0.34		$	0.40		$	0.37		$	(1.02	)		N.M.
Cash dividends declared		0.265			0.265			0.265			0.265			0.250			0.015			6.0
Return on average total assets		(1.74)	%		1.02	%		0.92	%		1.11	%		0.98			(2.72)	%		N.M.
Return on average total shareholders’ equity		(15.3	)		8.8			10.6			12.9			11.3			(26.6	)		N.M.
Return on average tangible shareholders’ equity(3)		(32.4	)		20.9			13.6			16.5			14.5			(46.90	)		N.M.
Net interest margin(4)		3.26			3.52			3.26			3.36			3.28			(0.02	)		(0.6	)
Efficiency ratio(5)		73.5			57.7			57.8			59.2			63.3			10.2			16.1
Effective tax rate (benefit)		(39.9	)		26.0			23.2			25.9			23.8			(63.7	)		N.M.
Revenue - fully taxable equivalent (FTE)
Net interest income	$	382,933		$	409,633		$	253,391		$	255,555		$	257,989		$	124,944			48.4
FTE adjustment		5,363			5,712			4,127			4,047			4,115			1,248			30.3
Net interest income(4)		388,296			415,345			257,518			259,602			262,104			126,192			48.1
Non-interest income		170,557			204,674			156,193			145,177			140,606			29,951			21.3
Total revenue(4)	$	558,853		$	620,019		$	413,711		$	404,779		$	402,710		$	156,143			38.8	%

N.M., not a meaningful value.
(1)	Comparisons for presented periods are impacted by a number of factors. Refer to ‘Significant Items Influencing Financial Performance Comparisons’.
(2)	Automobile operating lease income and expense is included in ‘Other Income’ and ‘Other Expense’, respectively.
(3)	Net income less expense for amortization of intangibles (net of tax) for the period divided by average tangible common shareholders’ equity. Average tangible common shareholders’ equity equals average total common shareholders’ equity less average intangible assets and goodwill. Other intangible assets are net of deferred tax.
(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).

7

Huntington Bancshares Incorporated
Quarterly Mortgage Banking Income
(Unaudited)

	2007												2006			4Q07 vs 4Q06
(in thousands, except as noted)	Fourth			Third			Second			First			Fourth			Amount			Percent
Mortgage Banking Income
Origination and secondary marketing	$	5,879		$	8,375		$	6,771		$	4,940		$	4,057		$	1,822			44.9	%
Servicing fees		11,405			10,811			6,976			6,820			6,662			4,743			71.2
Amortization of capitalized servicing (1)		(5,929	)		(6,571	)		(4,449	)		(3,638	)		(3,835	)		(2,094	)		(54.6	)
Other mortgage banking income		4,113			3,016			2,822			3,247			1,778			2,335			N.M.
Sub-total		15,468			15,631			12,120			11,369			8,662			6,806			78.6
MSR valuation adjustment(1)		(21,245	)		(9,863	)		16,034			(1,057	)		(1,907	)		(19,338	)		N.M.
Net trading gains (losses) related to MSR hedging		9,479			3,861			(21,032	)		(961	)		(586	)		10,065			N.M.
Total mortgage banking income	$	3,702		$	9,629		$	7,122		$	9,351		$	6,169		$	(2,467	)		(40.0	)%
Capitalized mortgage servicing rights (2)	$	207,894		$	228,933		$	155,420		$	134,845		$	131,104		$	76,790			58.6	%
Total mortgages serviced for others(in millions) (2)		15,088			15,073			8,693			8,494			8,252			6,836			82.8
MSR % of investor servicing portfolio		1.38	%		1.52	%		1.79	%		1.59	%		1.59	%		(0.21	)%		(13.2	)
Net Impact of MSR Hedging
MSR valuation adjustment (1)	$	(21,245	)	$	(9,863	)	$	16,034		$	(1,057	)	$	(1,907	)	$	(19,338	)		N.M.	%
Net trading gains (losses) related to MSR hedging		9,479			3,861			(21,032	)		(961	)		(586	)		10,065			N.M.
Net interest income (losses) related to MSR hedging		3,192			2,357			248			—			(2	)		3,194			N.M.
Net impact of MSR hedging	$	(8,574	)	$	(3,645	)	$	(4,750	)	$	(2,018	)	$	(2,495	)	$	(6,079	)		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.

8

Huntington Bancshares Incorporated
Quarterly Credit Reserves Analysis
(Unaudited)

	2007												2006
(in thousands)	Fourth			Third			Second			First			Fourth
Allowance for loan and lease losses, beginning of period	$	454,784		$	307,519		$	282,976		$	272,068		$	280,152
Acquired allowance for loan and lease losses		—			188,128			—			—			—
Loan and lease losses		(388,506	)		(57,466	)		(44,158	)		(27,813	)		(32,835	)
Recoveries of loans previously charged off		10,599			10,360			9,658			9,695			9,866
Net loan and lease losses		(377,907	)		(47,106	)		(34,500	)		(18,118	)		(22,969	)
Provision for loan and lease losses		503,781			36,952			59,043			29,026			14,885
Allowance for loans transferred to held-for-sale		(2,216	)		(30,709	)		—			—			—
Allowance for loan and lease losses, end of period	$	578,442		$	454,784		$	307,519		$	282,976		$	272,068
Allowance for unfunded loan commitments and letters of credit, beginning of period	$	58,227		$	41,631		$	40,541		$	40,161		$	39,302
Acquired AULC		—			11,541			—			—			—
Provision for unfunded loan commitments and letters of credit losses		8,301			5,055			1,090			380			859
Allowance for unfunded loan commitments and letters of credit, end of period	$	66,528		$	58,227		$	41,631		$	40,541		$	40,161
Total allowances for credit losses	$	644,970		$	513,011		$	349,150		$	323,517		$	312,229
Allowance for loan and lease losses (ALLL) as % of:
Transaction reserve		1.27	%		0.97	%		0.94	%		0.89	%		0.86	%
Economic reserve		0.17			0.17			0.21			0.19			0.18
Total loans and leases		1.44	%		1.14	%		1.15	%		1.08	%		1.04	%
Nonaccrual loans and leases (NALs)		181			182			145			180			189
Total allowances for credit losses (ACL) as % of:
Total loans and leases		1.61	%		1.28	%		1.30	%		1.23	%		1.19	%
Nonaccrual loans and leases		202			206			165			206			217

9

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

	2007												2006
(in thousands)	Fourth			Third			Second			First			Fourth
Net charge-offs (recoveries) by loan and lease type:
Commercial:
Middle market commercial and industrial	$	318,485		$	7,760		$	3,628		$	(11	)	$	(1,827	)
Middle market commercial real estate:
Construction		6,800			2,160			2,876			9			3,957
Commercial		13,313			2,282			10,428			377			144
Middle market commercial real estate		20,113			4,442			13,304			386			4,101
Small business		6,043			5,102			3,603			2,089			4,535
Total commercial		344,641			17,304			20,535			2,464			6,809
Consumer:
Automobile loans		7,347			5,354			1,631			2,853			2,422
Automobile leases		3,046			2,561			2,699			2,201			2,866
Automobile loans and leases		10,393			7,915			4,330			5,054			5,288
Home equity		12,212			10,841			5,405			5,968			5,820
Residential mortgage		3,340			4,405			1,695			1,931			2,226
Other loans		7,321			6,641			2,535			2,701			2,826
Total consumer		33,266			29,802			13,965			15,654			16,160
Total net charge-offs	$	377,907		$	47,106		$	34,500		$	18,118		$	22,969
Net charge-offs (recoveries) — annualized percentages:
Commercial:
Middle market commercial and industrial		12.30	%		0.30	%		0.23	%		—	%		(0.12	)%
Middle market commercial real estate:
Construction		1.46			0.48			0.92			—			1.35
Commercial		0.92			0.16			1.46			0.05			0.02
Middle market commercial real estate		1.06			0.24			1.29			0.04			0.41
Small business		0.56			0.47			0.58			0.34			0.75
Total commercial		6.18			0.31			0.64			0.08			0.22
Consumer:
Automobile loans		0.96			0.73			0.28			0.52			0.46
Automobile leases		0.96			0.72			0.70			0.52			0.62
Automobile loans and leases		0.96			0.73			0.45			0.52			0.54
Home equity		0.67			0.58			0.43			0.49			0.47
Residential mortgage		0.25			0.32			0.16			0.17			0.19
Other loans		4.02			4.97			2.39			2.56			2.63
Total consumer		0.75			0.67			0.41			0.46			0.46
Net charge-offs as a % of average loans		3.77	%		0.47	%		0.52	%		0.28	%		0.35	%

10

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

	2007												2006
(in thousands)	December 31,			September 30,			June 30,			March 31,			December 31,
Nonaccrual loans and leases:
Middle market commercial and industrial	$	51,875		$	56,691		$	41,644		$	32,970		$	35,657
Middle market commercial real estate		132,157			85,144			81,108			42,458			34,831
Small business		52,114			36,712			32,059			30,015			25,852
Residential mortgage		59,557			47,738			39,868			35,491			32,527
Home equity		24,068			23,111			16,837			16,396			15,266
Total nonaccrual loans and leases		319,771			249,396			211,516			157,330			144,133
Restructured loans		1,187,368			—			—			—			—
Other real estate, net:
Residential		72,467			66,155			47,712			47,762			47,898
Commercial		2,804			2,710			1,957			1,586			1,589
Total other real estate, net		75,271			68,865			49,669			49,348			49,487
Impaired loans held for sale(1)		73,481			100,485			—			—			—
Other NPAs(2)		4,379			16,296			—			—			—
Total nonperforming assets	$	1,660,270		$	435,042		$	261,185		$	206,678		$	193,620
Nonaccrual loans and leases as a % of total loans and leases		0.80	%		0.62	%		0.79	%		0.60	%		0.55	%
NPA ratio(3)		4.13			1.08			0.97			0.79			0.74
Accruing loans and leases past due 90 days or more	$	140,977		$	115,607		$	67,277		$	70,179		$	59,114
Accruing loans and leases past due 90 days or more as a percent of total loans and leases		0.35	%		0.29	%		0.25	%		0.27	%		0.23	%

	2007												2006
(in thousands)	Fourth			Third			Second			First			Fourth
Nonperforming assets, beginning of period	$	435,042		$	261,185		$	206,678		$	193,620		$	171,212
New nonperforming assets		211,134			92,986			112,348			51,588			60,287
Restructured loans(4)		1,187,368			—			—			—
Acquired nonperforming assets		—			144,492			—			—			—
Returns to accruing status		(5,273	)		(8,829	)		(4,674	)		(6,176	)		(5,666	)
Loan and lease losses		(62,502	)		(28,031	)		(27,149	)		(9,072	)		(11,908	)
Payments		(30,756	)		(17,589	)		(19,662	)		(18,086	)		(16,673	)
Sales		(74,743	)		(9,172	)		(6,356	)		(5,196	)		(3,632	)
Nonperforming assets, end of period	$	1,660,270		$	435,042		$	261,185		$	206,678		$	193,620

(1)	Represent impaired loans obtained from the Sky Financial acquisition that are intended to be sold. Held for sale loans are carried at the lower of cost or market value.
(2)	Other NPAs represent certain investment securities backed by mortgage loans to borrowers with lower FICO scores.
(3)	Nonperforming assets divided by the sum of loans and leases, impaired loans held for sale, net other real estate, and other NPAs.
(4)	Restructured loans are net of loan losses and payments.

11

Huntington Bancshares Incorporated

Quarterly Stock Summary, Capital, and Other Data

(Unaudited)

Quarterly common stock summary

	2007								2006
(in thousands, except per share amounts)	Fourth		Third		Second		First		Fourth
Common stock price, per share
High(1)	$	18.390	$	22.930	$	22.960	$	24.140	$	24.970
Low(1)		13.500		16.050		21.300		21.610		22.870
Close		14.760		16.980		22.740		21.850		23.750
Average closing price		16.125		18.671		22.231		23.117		24.315
Dividends, per share
Cash dividends declared on common stock	$	0.265	$	0.265	$	0.265	$	0.265	$	0.250
Common shares outstanding
Average — basic		366,119		365,895		236,032		235,586		236,426
Average — diluted		366,119		368,280		239,008		238,754		239,881
Ending		366,262		365,898		236,244		235,714		235,474
Book value per share	$	16.24	$	17.08	$	12.97	$	12.95	$	12.80
Tangible book value per share		7.13		8.10		10.41		10.37		10.21
Common share repurchases
Number of shares repurchased		—		—		—		—		3,050

Capital data

	2007												2006
(in millions)	December 31,			September 30,			June 30,			March 31,			December 31,
Calculation of tangible equity / asset ratio:
Total shareholders’ equity	$	5,949		$	6,250		$	3,064		$	3,051		$	3,014
Less: goodwill		(3,059	)		(2,996	)		(570	)		(570	)		(571	)
Less: other intangible assets		(428	)		(443	)		(55	)		(57	)		(59	)
Add: related deferred tax liability(2)		150			155			19			20			21
Total tangible equity	$	2,612		$	2,965		$	2,459		$	2,444		$	2,405
Total assets	$	54,697		$	55,304		$	36,421		$	34,979		$	35,329
Less: goodwill		(3,059	)		(2,996	)		(570	)		(570	)		(571	)
Less: other intangible assets		(428	)		(443	)		(55	)		(57	)		(59	)
Add: related deferred tax liability(2)		150			155			19			20			21
Total tangible assets	$	51,360		$	52,020		$	35,815		$	34,372		$	34,719
Tangible equity / asset ratio		5.08	%		5.70	%		6.87	%		7.11	%		6.93	%
Other capital data:
Total risk-weighted assets(3)	$	45,852		$	45,931		$	32,121		$	31,473		$	31,155
Tier 1 leverage ratio(3)		6.77	%		7.57	%		9.07	%		8.24	%		8.00	%
Tier 1 risk-based capital ratio(3)		7.55			8.35			9.74			8.98			8.93
Total risk-based capital ratio(3)		10.89			11.58			13.49			12.82			12.79
Tangible equity / risk-weighted assets ratio(3)		5.70			6.46			7.66			7.77			7.72
Average equity / average assets		11.40			11.50			8.66			8.63			8.70
Other data:
Number of employees (full-time equivalent)		11,925			12,312			8,410			8,029			8,081
Number of domestic full-service banking offices(4)		625			620			379			375			381

(1)	High and low stock prices are intra-day quotes obtained from NASDAQ.
(2)	Deferred tax liability related to other intangible assets is calculated assuming a 35% tax rate.
(3)	December 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 Statement 158 from the regulatory capital calculations.
(4)	Includes Private Financial Group offices.

12

Huntington Bancshares Incorporated
Consolidated Annual Average Balance Sheets
(Unaudited)

	Annual Average Balances
Fully taxable equivalent basis				Change from 2006									Change from 2005
(in millions)	2007			Amount			%			2006			Amount			%			2005			2004			2003
Assets
Interest bearing deposits in banks	$	260		$	207			N.M.		$	53		$	—			—	%	$	53		$	66		$	37
Trading account securities		642			550			N.M.			92			(115	)		(55.6	)		207			105			14
Federal funds sold and securities purchased under resale agreements		591			270			84.1			321			59			22.5			262			319			87
Loans held for sale		362			87			31.6			275			(43	)		(13.5	)		318			243			564
Investment securities:
Taxable		3,653			(544	)		(13.0	)		4,197			514			14.0			3,683			4,425			3,533
Tax-exempt		646			76			13.3			570			95			20.0			475			412			334
Total investment securities		4,299			(468	)		(9.8	)		4,767			609			14.6			4,158			4,837			3,867
Loans and leases: (1)
Commercial:
Middle market commercial and industrial		8,252			2,694			48.5			5,558			741			15.4			4,817			4,456			4,633
Middle market commercial real estate:
Construction		1,511			261			20.9			1,250			(428	)		(25.5	)		1,678			1,420			1,219
Commercial		4,267			1,516			55.1			2,751			843			44.2			1,908			1,922			1,800
Middle market commercial real estate		5,778			1,777			44.4			4,001			415			11.6			3,586			3,342			3,019
Small business		3,413			1,107			48.0			2,306			82			3.7			2,224			2,003			1,787
Total commercial		17,443			5,578			47.0			11,865			1,238			11.7			10,627			9,801			9,439
Consumer:
Automobile loans		2,633			576			28.0			2,057			14			0.7			2,043			2,285			3,260
Automobile leases		1,485			(546	)		(26.9	)		2,031			(391	)		(16.1	)		2,422			2,192			1,423
Automobile loans and leases		4,118			30			0.7			4,088			(377	)		(8.4	)		4,465			4,477			4,683
Home equity		6,173			1,203			24.2			4,970			218			4.6			4,752			4,244			3,400
Residential mortgage		4,939			358			7.8			4,581			500			12.3			4,081			3,212			2,076
Other loans		529			90			20.5			439			54			14.0			385			393			426
Total consumer		15,759			1,681			11.9			14,078			395			2.9			13,683			12,326			10,585
Total loans and leases		33,202			7,259			28.0			25,943			1,633			6.7			24,310			22,127			20,024
Allowance for loan and lease losses		(382	)		(95	)		(33.1	)		(287	)		(19	)		(7.1	)		(268	)		(298	)		(330	)
Net loans and leases		32,820			7,164			27.9			25,656			1,614			6.7			24,042			21,829			19,694
Total earning assets		39,356			7,905			25.1			31,451			2,143			7.3			29,308			27,697			24,593
Cash and due from banks		930			105			12.7			825			(20	)		(2.4	)		845			843			774
Intangible assets		2,019			1,452			N.M.			567			349			N.M.			218			216			218
All other assets		2,789			233			9.1			2,556			20			0.8			2,536			2,975			3,717
Total Assets	$	44,712		$	9,600			27.3		$	35,112		$	2,473			7.6		$	32,639		$	31,433		$	28,972
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — non-interest bearing	$	4,438		$	908			25.7	%	$	3,530		$	151			4.5	%	$	3,379		$	3,230		$	3,080
Demand deposits — interest bearing		3,129			991			46.4			2,138			218			11.4			1,920			1,953			1,822
Money market deposits		6,173			569			10.2			5,604			(134	)		(2.3	)		5,738			5,254			4,371
Savings and other domestic deposits		3,895			903			30.2			2,992			(163	)		(5.2	)		3,155			3,431			3,462
Core certificates of deposit		8,057			3,007			59.5			5,050			1,716			51.5			3,334			2,689			3,115
Total core deposits		25,692			6,378			33.0			19,314			1,788			10.2			17,526			16,557			15,850
Other domestic deposits of $100,000 or more		1,494			381			34.2			1,113			203			22.3			910			593			389
Brokered deposits and negotiable CDs		3,239			(3	)		(0.1	)		3,242			123			3.9			3,119			1,837			1,419
Deposits in foreign offices		641			126			24.5			515			58			12.7			457			508			500
Total deposits		31,066			6,882			28.5			24,184			2,172			9.9			22,012			19,495			18,158
Short-term borrowings		2,245			445			24.7			1,800			421			30.5			1,379			1,410			1,600
Federal Home Loan Bank advances		2,027			658			48.1			1,369			264			23.9			1,105			1,271			1,258
Subordinated notes and other long-term debt		3,688			114			3.2			3,574			(490	)		(12.1	)		4,064			5,379			4,559
Total interest bearing liabilities		34,588			7,191			26.2			27,397			2,216			8.8			25,181			24,325			22,495
All other liabilities		1,054			(185	)		(14.9	)		1,239			(257	)		(17.2	)		1,496			1,504			1,201
Shareholders’ equity		4,632			1,686			57.2			2,946			363			14.1			2,583			2,374			2,196
Total Liabilities and Shareholders’ Equity	$	44,712		$	9,600			27.3	%	$	35,112		$	2,473			7.6	%	$	32,639		$	31,433		$	28,972

N.M., not a meaningful value.

⁽¹⁾ For purposes of this analysis, non-accrual 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)	2007			2006			2005			2004			2003
Assets
Interest bearing deposits in banks		4.80	%		6.00	%		2.16	%		1.05	%		1.53	%
Trading account securities		5.84			4.19			4.08			4.15			4.02
Federal funds sold and securities purchased under resale agreements		5.05			5.00			2.27			1.73			1.80
Loans held for sale		5.69			6.10			5.64			5.35			5.32
Investment securities:
Taxable		6.07			5.47			4.31			3.88			4.52
Tax-exempt		6.72			6.75			6.71			6.98			7.04
Total investment securities		6.17			5.62			4.58			4.14			4.73
Loans and leases(3):
Commercial:
Middle market commercial and industrial		7.44			7.38			5.79			4.41			4.82
Middle market commercial real estate:
Construction		7.77			8.08			6.43			4.52			4.21
Commercial		7.46			7.46			5.93			4.58			4.97
Middle market commercial real estate		7.54			7.65			6.16			4.55			4.66
Small business		7.51			7.20			6.18			5.50			5.91
Total commercial		7.49			7.43			6.00			4.68			5.00
Consumer:
Automobile loans		7.17			6.57			6.52			7.22			7.43
Automobile leases		5.41			5.07			4.94			5.00			5.12
Automobile loans and leases		6.53			5.82			5.66			6.14			6.73
Home equity		7.77			7.44			6.07			4.92			4.89
Residential mortgage		5.79			5.44			5.22			5.07			5.40
Other loans		10.51			9.07			10.23			7.51			8.55
Total consumer		6.92			6.37			5.80			5.48			5.95
Total loans and leases		7.22			6.86			5.89			5.13			5.50
Total earning assets		7.02	%		6.63	%		5.65	%		4.89	%		5.35	%
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — non-interest bearing		—	%		—	%		—	%		—	%		—	%
Demand deposits — interest bearing		1.29			0.90			0.55			0.42			0.55
Money market deposits		3.77			3.45			2.18			1.25			1.44
Savings and other domestic deposits		2.33			1.68			1.36			1.28			1.96
Core certificates of deposit		4.86			4.25			3.56			3.36			3.67
Total core deposits		3.55			3.02			2.10			1.56			2.00
Other domestic deposits of $100,000 or more		5.07			4.99			3.39			1.90			1.17
Brokered deposits and negotiable CDs		5.41			5.22			3.51			1.80			1.70
Deposits in foreign offices		3.19			2.93			2.10			0.82			0.92
Total deposits		3.85			3.47			2.40			1.58			1.91
Short-term borrowings		4.13			4.01			2.49			0.93			0.98
Federal Home Loan Bank advances		5.06			4.38			3.13			2.62			1.94
Subordinated notes and other long-term debt		5.96			5.65			4.02			2.46			2.82
Total interest bearing liabilities		4.17			3.84			2.70			1.79			2.03
Net interest rate spread		2.85			2.79			2.95			3.10			3.32
Impact of non-interest bearing funds on margin		0.51			0.50			0.38			0.23			0.17
Net interest margin		3.36	%		3.29	%		3.33	%		3.33	%		3.49	%

(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 2006									Change from 2005
(in thousands, except per share amounts)	2007			Amount			%			2006			Amount			%			2005			2004			2003
Interest income	$	2,742,963		$	672,444			32.5	%	$	2,070,519		$	428,754			26.1	%	$	1,641,765		$	1,347,315		$	1,305,756
Interest expense		1,441,451			390,109			37.1			1,051,342			371,988			54.8			679,354			435,941			456,770
Net interest income		1,301,512			282,335			27.7			1,019,177			56,766			5.9			962,411			911,374			848,986
Provision for credit losses		643,628			578,437			N.M.			65,191			(16,108	)		(19.8	)		81,299			55,062			163,993
Net interest income after provision for credit losses		657,884			(296,102	)		(31.0	)		953,986			72,874			8.3			881,112			856,312			684,993
Service charges on deposit accounts		254,193			68,480			36.9			185,713			17,879			10.7			167,834			171,115			167,840
Trust services		121,418			31,463			35.0			89,955			12,550			16.2			77,405			67,410			61,649
Brokerage and insurance income		92,375			33,540			57.0			58,835			5,216			9.7			53,619			54,799			57,844
Other service charges and fees		71,067			19,713			38.4			51,354			7,006			15.8			44,348			41,574			41,446
Bank owned life insurance income		49,855			6,080			13.9			43,775			3,039			7.5			40,736			42,297			43,028
Mortgage banking income		29,804			(11,687	)		(28.2	)		41,491			13,158			46.4			28,333			26,786			58,180
Securities (losses) gains		(29,738	)		43,453			(59.4	)		(73,191	)		(65,136	)		N.M.			(8,055	)		15,763			5,258
Gain on sale of branch offices		—			—			—			—			—			—			—			—			13,112
Other income(2)		87,629			(75,508	)		(46.3	)		163,137			(64,925	)		(28.5	)		228,062			398,854			620,796
Total non-interest income		676,603			115,534			20.6			561,069			(71,213	)		(11.3	)		632,282			818,598			1,069,153
Personnel costs		686,828			145,600			26.9			541,228			59,570			12.4			481,658			485,806			447,263
Outside data processing and other services		127,245			48,466			61.5			78,779			4,141			5.5			74,638			72,115			66,118
Net occupancy		99,373			28,092			39.4			71,281			189			0.3			71,092			75,941			62,481
Equipment		81,482			11,570			16.5			69,912			6,788			10.8			63,124			63,342			65,921
Amortization of intangibles		45,151			35,189			N.M.			9,962			9,133			N.M.			829			817			816
Marketing		46,043			14,315			45.1			31,728			5,449			20.7			26,279			24,600			25,648
Professional services		40,320			13,267			49.0			27,053			(7,516	)		(21.7	)		34,569			36,876			42,448
Telecommunications		24,502			5,250			27.3			19,252			604			3.2			18,648			19,787			21,979
Printing and supplies		18,251			4,387			31.6			13,864			1,291			10.3			12,573			12,463			13,009
Restructuring reserve releases		—			—			—			—			—			—			—			(1,151	)		(6,666	)
Loss on early extinguishment of debt		—			—			—			—			—			—			—			—			15,250
Other expense(2)		142,649			4,714			3.4			137,935			(48,475	)		(26.0	)		186,410			331,648			475,892
Total non-interest expense		1,311,844			310,850			31.1			1,000,994			31,174			3.2			969,820			1,122,244			1,230,159
Income before income taxes		22,643			(491,418	)		(95.6	)		514,061			(29,513	)		(5.4	)		543,574			552,666			523,987
(Benefit) Provision for income taxes		(52,526	)		(105,366	)		N.M.			52,840			(78,643	)		(59.8	)		131,483			153,741			138,294
Income before cumulative effect of change in accounting principle		75,169			(386,052	)		(83.7	)		461,221			49,130			11.9			412,091			398,925			385,693
Cumulative effect of change in accounting principle, net of tax		—			—			—			—			—			—			—			—			(13,330	)
Net income	$	75,169			(386,052	)		(83.7	)%	$	461,221			49,130			11.9	%	$	412,091		$	398,925		$	372,363
Average common shares — diluted		303,455			63,535			26.5	%		239,920			6,445			2.8	%		233,475			233,856			231,582
Per common share
Net income per common share — diluted		0.25			(1.67	)		(87.0	)		1.92			0.15			8.5			1.77			1.71			1.61
Cash dividends declared		1.060			0.060			6.0			1.000			0.155			18.3			0.845			0.750			0.670
Return on average total assets		0.17	%		(1.14	)%		(87.02	)		1.31	%		0.05	%		3.97			1.26	%		1.27	%		1.29	%
Return on average total shareholders’ equity		1.6			(14.1	)		(89.8	)		15.7			(0.3	)		(1.9	)		16.0			16.8			17.0
Return on average tangible shareholders’ equity(3)		4.0			(15.7	)		(79.7	)		19.7			2.3			13.2			17.4			18.5			19.5
Net interest margin(4)		3.36			0.07			2.1			3.29			(0.04	)		(1.2	)		3.33			3.33			3.49
Efficiency ratio(5)		62.5			3.1			5.2			59.4			(0.6	)		(1.0	)		60.0			65.0			63.9
Effective tax rate		N.M.			N.M.			N.M.			10.3			(13.90	)		(57.4	)		24.2			27.8			26.4
Revenue — fully taxable equivalent (FTE)
Net interest income	$	1,301,512		$	282,335			27.7	%	$	1,019,177		$	56,766			5.9	%	$	962,411		$	911,374		$	848,986
FTE adjustment(4)		19,249			3,224			20.1			16,025			2,632			19.7			13,393			11,653			9,684
Net interest income		1,320,761			285,559			27.6			1,035,202			59,398			6.1			975,804			923,027			858,670
Non-interest income		676,603			115,534			20.6			561,069			(71,213	)		(11.3	)		632,282			818,598			1,069,153
Total revenue	$	1,997,364		$	401,093			25.1	%	$	1,596,271		$	(11,815	)		(0.7	)%	$	1,608,086		$	1,741,625		$	1,927,823

N.M., not a meaningful value.
(1)	Comparisons for presented periods are impacted by a number of factors. Refer to the ‘Significant Items Influencing Financial Performance Comparisons’.
(2)	Automobile operating lease income and expense is included in ‘Other Income’ and ‘Other Expense’, respectively.
(3)	Net income less expense for amortization of intangibles (net of tax) for the period divided by average tangible common shareholders’ equity. Average tangible common shareholders’ equity equals average total common shareholders’ equity less average goodwill and other intangible assets. Other intangible assets are net of deferred tax.
(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 losses.

15

Huntington Bancshares Incorporated
Annual Mortgage Banking Income
(Unaudited)

	Year Ended December 31,
(in thousands, except as noted)	2007			2006			2005			2004			2003
Mortgage Banking Income
Origination and secondary marketing	$	25,965		$	18,217		$	24,934		$	22,709		$	40,879
Servicing fees		36,012			24,659			22,181			21,696			16,906
Amortization of capitalized servicing(1)		(20,587	)		(15,144	)		(18,359	)		(19,019	)		(25,966	)
Other mortgage banking income		13,198			10,173			8,583			10,024			11,404
Sub-total		54,588			37,905			37,339			35,410			43,223
MSR valuation adjustment(1)		(16,131	)		4,871			4,371			1,378			14,957
Net trading (losses) gains related to MSR hedging		(8,653	)		(1,285	)		(13,377	)		(10,002	)		—
Total mortgage banking income	$	29,804		$	41,491		$	28,333		$	26,786		$	58,180
Capitalized mortgage servicing rights(2)	$	207,894		$	131,104		$	91,259		$	77,107		$	71,087
MSR allowance(2)		—			—			(404	)		(4,775	)		(6,153	)
Total mortgages serviced for others(in millions)(2)		15,088			8,252			7,276			6,861			6,394
MSR % of investor servicing portfolio		1.38	%		1.59	%		1.25	%		1.12	%		1.11	%
Net Impact of MSR Hedging
MSR valuation adjustment(1)	$	(16,131	)	$	4,871		$	4,371		$	1,378		$	14,957
Net trading (losses) gains related to MSR hedging		(8,653	)		(1,285	)		(13,377	)		(10,002	)		—
Net interest income related to MSR hedging		5,797			36			1,688			1,450			—
Other MSR hedge activity		—			—			—			(4,492	)		—
Net impact of MSR hedging	$	(18,987	)	$	3,622		$	(7,318	)	$	(11,666	)	$	14,957

(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)	2007			2006			2005			2004			2003
Allowance for loan and lease losses, beginning of period	$	272,068		$	268,347		$	271,211		$	299,732		$	300,503
Acquired allowance for loan and lease losses		188,128			23,785			—			—			—
Loan and lease losses		(517,943	)		(119,692	)		(115,848	)		(126,115	)		(201,534	)
Recoveries of loans previously charged off		40,312			37,316			35,791			47,580			39,725
Net loan and lease losses		(477,631	)		(82,376	)		(80,057	)		(78,535	)		(161,809	)
Provision for loan and lease losses		628,802			62,312			83,782			57,397			164,616
Economic reserve transfer		—			—			(6,253	)		—			—
Allowance of assets sold and securitized		—			—			(336	)		(7,383	)		(3,578	)
Allowance for loans transferred to held-for-sale		(32,925	)		—			—			—			—
Allowance for loan and lease losses, end of period	$	578,442		$	272,068		$	268,347		$	271,211		$	299,732
Allowance for unfunded loan commitments and letters of credit, beginning of period	$	40,161		$	36,957		$	33,187		$	35,522		$	36,145
Acquired AULC		11,541			325			—			—			—
Provision for unfunded loan commitments and letters of credit losses		14,826			2,879			(2,483	)		(2,335	)		(623	)
Economic reserve transfer		—			—			6,253			—			—
Allowance for unfunded loan commitments and letters of credit, end of period	$	66,528		$	40,161		$	36,957		$	33,187		$	35,522
Total allowances for credit losses	$	644,970		$	312,229		$	305,304		$	304,398		$	335,254
Allowance for loan and lease losses (ALLL) as % of:
Transaction reserve		1.27	%		0.86	%		0.89	%		0.83	%		1.02	%
Economic reserve		0.17			0.18			0.21			0.32			0.40
Total loans and leases		1.44	%		1.04	%		1.10	%		1.15	%		1.42	%
Nonaccrual loans and leases (NALs)		181			189			263			424			397
Total allowances for credit losses (ACL) as % of:
Total loans and leases		1.61	%		1.19	%		1.25	%		1.29	%		1.59	%
Nonaccrual loans and leases		202			217			300			476			444

17

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

	Year Ended December 31,
(in thousands)	2007				2006			2005			2004			2003
Net charge-offs by loan and lease type:
Commercial:
Middle market commercial and industrial	$	329,862			$	6,318		$	13,578		$	1,920		$	75,803
Middle market commercial real estate:
Construction		11,845				3,553			135			2,465			2,928
Commercial		26,400				2,555			3,910			5,506			5,019
Middle market commercial real estate		38,245				6,108			4,045			7,971			7,947
Small business		16,837				15,225			11,951			5,566			11,625
Total commercial		384,944				27,651			29,574			15,457			95,375
Consumer:
Automobile loans		17,185				8,330			11,988			28,574			40,266
Automobile leases		10,507				10,445			11,664			10,837			5,728
Automobile loans and leases		27,692				18,775			23,652			39,411			45,994
Home equity		34,426				21,854			17,619			15,074			12,114
Residential mortgage		11,371				4,505			2,332			1,760			832
Other loans		19,198				9,591			6,880			6,833			7,494
Total consumer		92,687				54,725			50,483			63,078			66,434
Total net charge-offs	$	477,631			$	82,376		$	80,057		$	78,535		$	161,809
Net charge-offs annualized percentages:
Commercial:
Middle market commercial and industrial		4.00	%			0.11	%		0.28	%		0.04	%		1.64	%
Middle market commercial real estate:
Construction		0.78				0.28			0.01			0.17			0.24
Commercial		0.62				0.09			0.20			0.29			0.28
Middle market commercial real estate		0.66				0.15			0.11			0.24			0.26
Small business		0.49				0.66			0.54			0.28			0.65
Total commercial		2.21				0.23			0.28			0.16			1.01
Consumer:
Automobile loans		0.65				0.40			0.59			1.25			1.24
Automobile leases		0.71				0.51			0.48			0.49			0.40
Automobile loans and leases		0.67				0.46			0.53			0.88			0.98
Home equity		0.56		��		0.44			0.37			0.36			0.36
Residential mortgage		0.23				0.10			0.06			0.05			0.04
Other loans		3.63				2.18			1.79			1.74			1.76
Total consumer		0.59				0.39			0.37			0.51			0.63
Net charge-offs as a % of average loans		1.44	%			0.32	%		0.33	%		0.35	%		0.81	%

18

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

	December 31,
(in thousands)	2007			2006			2005			2004			2003
Nonaccrual loans and leases:
Middle market commercial and industrial	$	51,875		$	35,657		$	28,888		$	24,179		$	33,745
Middle market commercial real estate		132,157			34,831			15,763			4,582			18,434
Small business		52,114			25,852			28,931			14,601			13,607
Residential mortgage		59,557			32,527			17,613			13,545			9,695
Home equity		24,068			15,266			10,720			7,055			—
Total nonaccrual loans and leases		319,771			144,133			101,915			63,962			75,481
Restructured loans		1,187,368			—			—			—			—
Other real estate, net:
Residential		72,467			47,898			14,214			8,762			6,918
Commercial		2,804			1,589			1,026			35,844			4,987
Total other real estate, net		75,271			49,487			15,240			44,606			11,905
Impaired loans held for sale(1)		73,481			—			—			—			—
Other NPAs(2)		4,379			—			—			—			—
Total nonperforming assets	$	1,660,270		$	193,620		$	117,155		$	108,568		$	87,386
Nonperforming loans and leases as a % of total loans and leases		0.80	%		0.55	%		0.42	%		0.27	%		0.36	%
NPA ratio(3)		4.13			0.74			0.48			0.46			0.41
Accruing loans and leases past due 90 days or more	$	140,977		$	59,114		$	56,138		$	54,283		$	55,913
Accruing loans and leases past due 90 days or more as a percent of total loans and leases		0.35	%		0.23	%		0.23	%		0.23	%		0.27	%

	December 31,
(in thousands)	2007			2006			2005			2004			2003
Nonperforming assets, beginning of period	$	193,620		$	117,155		$	108,568		$	87,386		$	136,723
New nonperforming assets(4)		468,056			222,043			171,150			137,359			222,043
Restructured loans(5)		1,187,368			—			—			—			—
Acquired nonperforming assets		144,492			33,843			—			—			—
Returns to accruing status		(24,952	)		(43,999	)		(7,547	)		(3,795	)		(16,632	)
Loan and lease losses		(126,754	)		(46,191	)		(38,819	)		(37,337	)		(109,905	)
Payments		(86,093	)		(59,469	)		(64,861	)		(43,319	)		(83,886	)
Sales		(95,467	)		(29,762	)		(51,336	)		(31,726	)		(60,957	)
Non-performing assets, end of period	$	1,660,270		$	193,620		$	117,155		$	108,568		$	87,386

(1)	Represent impaired loans obtained from the Sky acquisition that are intended to be sold. Held for sale loans are carried at the lower of cost or market value.
(2)	Other NPAs represent certain investment securities backed by mortgage loans to borrowers with lower FICO scores.
(3)	Nonperforming assets divided by the sum of loans and leases, impaired loans held for sale, net other real estate, and other NPAs.
(4)	Beginning in the second quarter of 2006, new nonperforming assets include OREO 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.
(5)	Restructured loans are net of loan losses and payments.

19