SKY Financial 8-K Midwest Super-Community Bank Conference

Exhibit 99.2

SKY FINANCIAL GROUP, INC.

*NON-GAAP DISCLOSURE RECONCILIATIONS

(Dollars in thousands)

Core operating earnings are net income adjusted to exclude discontinued operations, merger, integration and restructuring expenses. Cash operating earnings are core operating earnings adjusted to exclude the after-tax effect of amortizing core deposits and other intangibles. Management believes that both core operating earnings and cash operating earnings assist the investor in understanding the impact of non-operating items and amortization of intangibles on reported results.

Core operating earnings

The following reconciles GAAP income from continuing operations to core operating earnings for each of the periods presented in the tables:

	For the Years Ended December 31,
	2004			2003
Income from continuing operations	$	175,200		$	152,680
Merger, integration and restructuring expense		4,542			4,577
Tax effect		(1,590	)		(1,602	)
After-tax non-operating items		2,952			2,975
Core operating earnings	$	178,152		$	155,655

	2004											2003
	4th qtr			3rd qtr			2nd qtr		1st qtr			4th qtr
Income from continuing operations	$	48,899		$	46,148		$	40,201	$	39,952		$	39,585
Merger, integration and restructuring expense		365			3,831			—		346			1,091
Tax effect		(128	)		(1,341	)		—		(121	)		(382	)
After-tax non-operating items		237			2,490			—		225			709
Core operating earnings	$	49,136		$	48,638		$	40,201	$	40,177		$	40,294

Merger, integration and restructuring expense in 2004 reflect charges associated with the acquisition of Second Bancorp, Inc. and Prospect Bancshares and the sale of Sky Financial Solutions, Inc.

Merger, integration and restructuring expense in 2003 reflect the impact of charges for the acquisition of GLB Bancorp, Inc. and Metropolitan Financial Corporation.

Core operating earnings is used as the numerator to calculate core operating return on average assets, core operating return on average equity and core operating earnings per share. Additionally, non-operating expense and amortization expense are deducted from non-interest expense in the numerator and non-operating income is deducted from non-interest income in the denominator of the cash operating efficiency ratio disclosed in the tables. The comparable information on a GAAP basis is also provided in the tables.

Cash operating earnings

The following reconciles core operating earnings to cash operating earnings for each of the periods presented in the tables:

	For the Years Ended December 31,
	2004			2003
Core operating earnings	$	178,152		$	155,655
Amortization of core deposits and other intangible assets		10,979			6,896
Tax effect		(3,843	)		(2,414	)
After-tax non-operating items		7,136			4,482
Cash operating earnings	$	185,288		$	160,137

	2004												2003
	4th qtr			3rd qtr			2nd qtr			1st qtr			4th qtr
Core operating earnings	$	49,136		$	48,638		$	40,201		$	40,177		$	40,294
Amortization of core deposits and other intangible assets		3,576			3,553			1,943			1,907			1,903
Tax effect		(1,252	)		(1,244	)		(680	)		(667	)		(666	)
After-tax non-operating items		2,324			2,309			1,263			1,240			1,237
Cash operating earnings	$	51,460		$	50,947		$	41,464		$	41,417		$	41,531

Cash operating earnings is used as the numerator to calculate the cash operating return on average tangible equity and the cash operating return on average tangible assets. The denominator of each ratio is adjusted to deduct the average balance of intangible assets during the period. Additionally, amortization of core deposits and other intangible assets and merger, integration and restructuring expenses are deducted from non-interest expense in the numerator of the cash operating efficiency ratio disclosed in the tables.

Return on average assets and return on average equity calculated on a GAAP basis for each of the periods in the investor presentation is as follows:

	For the Years Ended December 31,
	2004		2003
Return on average equity	15.75	%	17.23	%
Return on average assets	1.43	%	1.29	%

The efficiency ratio calculated on a GAAP basis for each of the periods in the investor presentation is as follows:

	4th qtr	3rd qtr	2nd qtr	1st qtr	4th qtr
Efficiency ratio	53.53	55.57	53.75	53.75	52.59

The following table reconciles average GAAP equity to average tangible equity for the twelve months ended December 31, 2004 and 2003, as well as for each of the period ends presented in the tables.

	For the Years Ended December 31,
	2004			2003
Average GAAP equity	$	1,234,067		$	908,794
Goodwill		322,487			147,370
Core deposits and other intangibles		62,194			50,375
Deferred taxes		(21,768	)		(17,631	)
		362,913			180,114
Average tangible equity	$	871,154		$	728,680

	2004												2003
	4th qtr			3rd qtr			2nd qtr			1st qtr			4th qtr
Average GAAP equity	$	1,448,075		$	1,390,013		$	1,060,518		$	1,033,599		$	978,324
Goodwill		454,488			440,734			198,414			193,561			174,660
Core deposits and other intangibles		73,037			75,939			49,056			50,474			54,176
Deferred taxes		(25,563	)		(26,579	)		(17,170	)		(17,666	)		(18,962	)
		501,962			490,094			230,300			226,369			209,874
Average tangible equity	$	946,113		$	899,919		$	830,218		$	807,230		$	768,450

The following table reconciles average GAAP assets to average tangible assets for the twelve months ended December 31, 2004 and 2003, as well as for each of the period ends presented in the tables.

	For the Years Ended December 31,
	2004			2003
Average GAAP assets (excluding discontinued operations)	$	13,360,556		$	11,429,271
Goodwill		322,487			147,370
Core deposits and other intangibles		62,194			50,375
Deferred taxes		(21,768	)		(17,631	)
		362,913			180,114
Average tangible assets	$	12,997,643		$	11,249,157

	2004												2003
	4th qtr			3rd qtr			2nd qtr			1st qtr			4th qtr
Average GAAP assets (excluding discontinued operations)	$	14,751,651		$	14,523,149		$	12,114,421		$	12,024,936		$	11,970,664
Goodwill		454,488			440,734			198,414			193,561			174,660
Core deposits and other intangibles		73,037			75,939			49,056			50,474			54,176
Deferred taxes		(25,563	)		(26,579	)		(17,170	)		(17,666	)		(18,962	)
		501,962			490,094			230,300			226,369			209,874
Average tangible assets	$	14,249,689		$	14,033,055		$	11,884,121		$	11,798,567		$	11,760,790

The following table reconciles GAAP earnings per share to core operating earnings per share and cash operating earnings per share:

Basic EPS

	For the Years Ended December 31,
	2004			2003
Net income	$	1.95		$	1.75
After-tax earnings from discontinued operations		(0.19	)		(0.04	)
After-tax merger, integration and restructuring		0.03			0.03
Core operating earnings		1.79			1.74
After-tax amortization of core deposits and other intangible assets		0.07			0.05
Cash operating earnings	$	1.86		$	1.79

	2004									2003
	4th qtr		3rd qtr		2nd qtr		1st qtr			4th qtr
Net income	$	0.47	$	0.44	$	0.43	$	0.63		$	0.45
After-tax earnings from discontinued operations		—		—		—		(0.20	)		(0.02	)
After-tax merger, integration and restructuring		—		0.02		—		—			—
Core operating earnings		0.46		0.46		0.43		0.43			0.43
After-tax amortization of core deposits and other intangible assets		0.02		0.02		0.01		0.01			0.01
Cash operating earnings	$	0.49	$	0.48	$	0.44	$	0.44		$	0.45

Diluted EPS

	For the Years Ended December 31,
	2004			2003
Net income	$	1.93		$	1.73
After-tax earnings from discontinued operations		(0.19	)		(0.04	)
After-tax merger, integration and restructuring		0.03			0.03
Core operating earnings		1.77			1.72
After-tax amortization of core deposits and other intangible assets		0.07			0.05
Cash operating earnings	$	1.84		$	1.77

	2004									2003
	4th qtr		3rd qtr		2nd qtr		1st qtr			4th qtr
Net income	$	0.46	$	0.43	$	0.43	$	0.62		$	0.45
After-tax earnings from discontinued operations		—		—		—		(0.20	)		(0.02	)
After-tax merger, integration and restructuring		—		0.02		—		0.01			—
Core operating earnings		0.46		0.45		0.43		0.43			0.43
After-tax amortization of core deposits and other intangible assets		0.02		0.02		0.01		0.01			0.01
Cash operating earnings	$	0.48	$	0.47	$	0.44	$	0.44		$	0.45