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EXHIBIT 99
HUNTINGTON BANCSHARES INCORPORATED
RATIO OF EARNINGS TO FIXED CHARGES
(Amounts in thousands, except for ratios)
THREE MONTHS ENDED SIX MONTHS ENDED
JUNE 30, JUNE 30,
------------------------- ------------------------
2001 2000 2001 2000
--------- --------- --------- ---------
EXCLUDING INTEREST ON DEPOSITS
(Loss) Income before taxes ................. $ (8,552) $ 134,560 $ 84,742 $ 285,138
Restructuring and other charges ............ 110,965 --- 110,965 ---
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Operating income before taxes .............. 102,413 134,560 195,707 285,138
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Fixed charges:
Interest expense ................... 80,638 94,477 170,408 186,694
Interest factor of rent expense .... 3,578 3,450 7,150 7,055
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Total fixed charges ............. 84,216 97,927 177,558 193,749
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Reported earnings .......................... $ 75,664 $ 232,487 $ 262,300 $ 478,887
========= ========= ========= =========
Operating earnings ......................... $ 186,629 $ 232,487 $ 373,265 $ 478,887
========= ========= ========= =========
Fixed charges .............................. $ 84,216 $ 97,927 $ 177,558 $ 193,749
========= ========= ========= =========
RATIO OF REPORTED EARNINGS TO FIXED CHARGES 0.90 X 2.37 X 1.48 X 2.47 X
Ratio of Operating Earnings to Fixed Charges 2.22 X 2.37 X 2.10 X 2.47 X
INCLUDING INTEREST ON DEPOSITS
(Loss) Income before taxes ................. $ (8,552) $ 134,560 $ 84,742 $ 285,138
Restructuring and other charges ............ 110,965 --- 110,965 ---
--------- --------- --------- ---------
Operating income before taxes .............. 102,413 134,560 195,707 285,138
--------- --------- --------- ---------
Fixed charges:
Interest expense ................... 250,926 286,690 525,777 561,556
Interest factor of rent expense .... 3,578 3,450 7,150 7,055
--------- --------- --------- ---------
Total fixed charges ............. 254,504 290,140 532,927 568,611
--------- --------- --------- ---------
Reported earnings .......................... $ 245,952 $ 424,700 $ 617,669 $ 853,749
========= ========= ========= =========
Operating earnings ......................... $ 356,917 $ 424,700 $ 728,634 $ 853,749
========= ========= ========= =========
Fixed charges .............................. $ 254,504 $ 290,140 $ 532,927 $ 568,611
========= ========= ========= =========
RATIO OF REPORTED EARNINGS TO FIXED CHARGES 0.97 X 1.46 X 1.16 X 1.50 X
Ratio of Operating Earnings to Fixed Charges 1.40 X 1.46 X 1.37 X 1.50 X