8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 21, 2010

HUNTINGTON BANCSHARES INCORPORATED

(Exact name of registrant as specified in its charter)

Maryland	1-34073	31-0724920
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

Huntington Center 41 South High Street Columbus, Ohio	43287
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (614) 480-8300

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

On October 21, 2010, Huntington Bancshares Incorporated (“Huntington”) issued a news release announcing its earnings for the quarter ended September 30, 2010. Also on October 21, 2010, Huntington made a Quarterly Financial Review available on its web site, www.huntington-ir.com.

Huntington’s senior management will host an earnings conference call October 21, 2010, at 10:00 a.m. (Eastern Time). The call may be accessed via a live Internet webcast at www.huntington-ir.com or through a dial-in telephone number at 800-267-7495, conference ID 11905208. Slides will be available at www.huntington-ir.com just prior to the call. A replay of the web cast will be archived in the Investor Relations section of Huntington’s web site at www.huntington.com. A telephone replay will be available two hours after the completion of the call through October 29, 2010, at 800-642-1687; conference call ID 11905208.

The information contained or incorporated by reference in this Current Report on Form 8-K contains certain forward-looking statements, including certain plans, expectations, goals, projections, and statements, which are subject to numerous assumptions, risks, and uncertainties. Actual results could differ materially from those contained or implied by such statements for a variety of factors including: (1) credit quality performance could worsen due to a number of factors such as the underlying value of the collateral could prove less valuable than otherwise assumed and assumed cash flows may be worse than expected; (2) changes in economic conditions; (3) movements in interest rates; (4) competitive pressures on product pricing and services; (5) success and timing of other business strategies; (6) extended disruption of vital infrastructure; and (7) the nature, extent, and timing of governmental actions and reforms, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, as well as future regulations which will be adopted by the relevant regulatory agencies, including the newly created Consumer Financial Protection Bureau (CFPB), to implement the Act’s provisions. Additional factors that could cause results to differ materially from those described above can be found in Huntington’s 2009 Annual Report on Form 10-K, and documents subsequently filed by Huntington with the Securities and Exchange Commission. All forward-looking statements contained or incorporated by reference in this Current Report on Form 8-K are based on information available at the time of the release. Huntington assumes no obligation to update any forward-looking statement.

Exhibit 99.2 includes certain ratios, specifically the tangible common equity ratio, and the Tier 1 common risk-based capital ratio, which are non-GAAP financial measures. These non-GAAP financial measures are included in this report because the Federal Reserve indicated that as part of their Supervisory Capital Assessment Program (SCAP), a year-end 2010 Tier 1 common risk-based capital ratio of 4.0% would be needed. Although Huntington is not one of the SCAP bank holding companies, the market has accepted this as a “de facto” standard for being adequately capitalized since 10 of the 19 bank holding companies included in SCAP were directed to increase their capital levels to meet this targeted threshold. Other companies may calculate these financial measures differently. Risk-weighted assets are calculated under regulatory capital rules applicable to us as discussed more fully on page 8 of our Form 10-K. The tangible common equity ratio, tangible assets, and Tier 1 common risk-based capital ratio were calculated as follows:

Capital Adequacy Reconciliations

	2010									2009
(in millions)	September 30,			June 30,			March 31,			December 31,			September 30,
Tangible common equity to asset ratio:
Total shareholders’ equity	$	5,567		$	5,438		$	5,370		$	5,336		$	5,675
Shareholders’ preferred equity		(1,700	)		(1,696	)		(1,692	)		(1,688	)		(1,683	)
		3,867			3,742			3,678			3,648			3,992
Goodwill		(444	)		(444	)		(444	)		(444	)		(444	)
Intangible assets		(244	)		(259	)		(274	)		(289	)		(303	)
Intangible asset deferred tax liability (1)		85			91			95			101			106
Total tangible common equity	$	3,264		$	3,130		$	3,055		$	3,016		$	3,351
Total assets	$	53,247		$	51,771		$	51,867		$	51,555		$	52,513
Goodwill		(444	)		(444	)		(444	)		(444	)		(444	)
Other intangible assets		(244	)		(259	)		(274	)		(289	)		(303	)
Intangible asset deferred tax liability (1)		85			91			95			101			106
Total tangible assets	$	52,644		$	51,159		$	51,244		$	50,923		$	51,872
Tangible common equity to asset ratio		6.20	%		6.12	%		5.96	%		5.92	%		6.46	%
Tier 1 common risk-based capital ratio (2)
Tier 1 capital	$	5,480		$	5,317		$	5,090		$	5,201		$	5,756
Shareholders’ preferred equity		(1,700	)		(1,696	)		(1,692	)		(1,688	)		(1,683	)
Trust preferred securities		(570	)		(570	)		(570	)		(570	)		(570	)
REIT preferred stock		(50	)		(50	)		(50	)		(50	)		(50	)
Tier 1 common	$	3,160		$	3,001		$	2,778		$	2,893		$	3,453
Risk weighted assets	$	42,946		$	42,486		$	42,522		$	43,248		$	44,142
Tier 1 common risk-based capital ratio		7.36	%		7.06	%		6.53	%		6.69	%		7.82	%

(1)	Intangible assets are net of deferred tax liability, and calculated assuming a 35% tax rate.
(2)	September 30, 2010 figures are estimated.

The information contained or incorporated by reference in Item 2.02 of this Form 8-K shall be treated as “furnished” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.

Item 9.01. Financial Statements and Exhibits.

The exhibits referenced below shall be treated as “furnished” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.

(d) Exhibits.

Exhibit 99.1	—	News release of Huntington Bancshares Incorporated, dated October 21, 2010.
Exhibit 99.2	—	Quarterly Financial Review, September 2010.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	HUNTINGTON BANCSHARES INCORPORATED
Date: October 21, 2010	By:	/s/ Donald R. Kimble
		Donald R. Kimble
		Senior Executive Vice President and Chief Financial Officer

EXHIBIT INDEX

Exhibit No.	Description
Exhibit 99.1	News release of Huntington Bancshares Incorporated, October 21, 2010.
Exhibit 99.2	Quarterly Financial Review, September 2010.

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE —
Date: October 21, 2010

Contact:
Investors	Media
Jay Gould	Maureen Brown
Jay.Gould@huntington.com	Maureen.Brown@Huntington.com
(614) 480-4060	(614) 480-5512

Todd Beekman
Todd.Beekman@huntington.com
(614) 480-3878

HUNTINGTON BANCSHARES REPORTS
THIRD QUARTER NET INCOME OF $100.9 MILLION,
OR $0.10 PER COMMON SHARE

• UP FROM $48.8 MILLION, OR $0.03 PER COMMON SHARE, IN 2010 SECOND QUARTER

• 1% LINKED-QUARTER INCREASE IN FULLY TAXABLE EQUIVALENT REVENUE

• IMPROVED LINKED-QUARTER CREDIT QUALITY

• 18% DECLINE IN NONACCRUAL LOANS

• 140% ALLOWANCE FOR CREDIT LOSSES COVERAGE OF NONACCRUAL LOANS, UP FROM 120%

• 3% LINKED-QUARTER INCREASE IN NONINTEREST EXPENSE PRIMARILY RELATED TO STRATEGIC INITIATIVE IMPLEMENTATION

• STRENGTHENED CAPITAL

COLUMBUS, Ohio — Huntington Bancshares Incorporated (NASDAQ: HBAN; www.huntington.com) reported 2010 third quarter net income of $100.9 million, or $0.10 per common share. This compared with net income of $48.8 million, or $0.03 per common share, in the 2010 second quarter and a net loss of $166.2 million, or $0.33 per common share, in the year-ago quarter.

For the first nine months of 2010, Huntington reported net income of $189.4 million, or $0.14 per common share, compared with a net loss of $2.7 billion, or $6.08 per common share, in the comparable year-ago period. The year-ago period included $2.6 billion pre-tax, or $5.52 per common share, of goodwill impairment charges.

“There was much to be pleased with about our 2010 third quarter financial performance,” said Stephen D. Steinour, chairman and chief executive officer. “Net income was higher. Revenue grew. And we saw continued significant improvement in credit quality as nonperforming assets and net charge-offs declined and reserve coverage of nonperforming assets increased. Capital ratios also strengthened. These are all trends we expect will continue going forward. We continue to be challenged by the current economy. But while the environment is difficult, it is not as tough as it was last year. Growth in our automobile loans continued to be a bright spot, and we were able to generate modest growth in commercial and industrial loans.”

Total revenue for the third quarter was $679.7 million, up 1% from the prior quarter, driven by a $10.4 million, or 3%, increase in fully-taxable equivalent net interest income. This reflected 8% annualized growth in average earnings assets, including 1% annualized growth in average total loans and leases, and a net interest margin of 3.45%, down one basis point from the prior quarter.

Nonaccrual loans (NALs) declined 18% to $1.0 billion at September 30, 2010, from $1.2 billion at the end of the prior quarter. Total criticized commercial loans at quarter end were $3.6 billion, down 11% from $4.1 billion at June 30, 2010. While the period end allowance for credit losses (ACL) as a percentage of total loans and leases was 3.67%, down from 3.90% at June 30, 2010, the ACL as a percentage of total nonaccrual loans (NALs), increased to 140%, from 120%. Net charge-offs were $184.5 million, or an annualized 1.98% of average total loans and leases, down from $279.2 million, or 3.01%, in the 2010 second quarter.

The Tier 1 common risk-based capital ratio at September 30, 2010, was 7.36%, up from 7.06% at the end of June. The period end tangible common equity ratio increased to 6.20% from 6.12% at the end of the prior quarter. The regulatory Tier 1 and Total capital ratios were 12.76% and 15.02%, respectively, up from 12.51% and 14.79%, respectively, at the end of June and $2.9 billion and $2.2 billion, respectively, above the “well capitalized” thresholds.

“During the third quarter, we continued to make significant investments in people, product expansion, and distribution designed to grow revenues and improve long-term profitability,” Steinour continued. “In addition, and recognizing that customer attitudes toward banks and banking have changed, we introduced our ‘Fair Play’ banking philosophy. This will reposition Huntington as the most customer-friendly bank in our markets, with the objective of accelerating customer acquisition and thereby revenue growth. We voluntarily reduced certain deposit service charges, over and above that resulting from the industry’s implementation of the amendment to Reg E. Combined, these investments and fee reductions create temporary earnings headwinds. Reflecting this, third quarter pre-tax, pre-provision earnings declined to $265.2 million, or 2%, from the second quarter. For the near term, we expect pre-tax, pre-provision earnings to remain around the current level. We believe that our strategic investments and market repositioning will position us, over time, to resume our growth trajectory in pre-tax, pre-provision earnings.”

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THIRD QUARTER PERFORMANCE DISCUSSION

PERFORMANCE OVERVIEW COMPARED WITH 2010 SECOND QUARTER

• Net income of $100.9 million, or $0.10 per common share, up $52.2 million from net income of $48.8 million, or $0.03 per common share, reflecting lower provision for credit losses and higher revenue.

• Pre-tax, pre-provision income of $265.2 million, down $5.2 million, or 2%.

• $7.9 million, or 1%, linked-quarter increase in fully-taxable equivalent revenue.

• $10.4 million, or 3%, increase in fully-taxable equivalent net interest income.

• 8% annualized growth in average earnings assets including 1% annualized growth in total loans and leases.

• 2% annualized growth in average total core deposits.

• 3.45% net interest margin, down from 3.46%.

• $2.5 million, or 1%, decrease in noninterest income, primarily driven by a $10.0 million, or 13%, decline in services charges on deposit accounts.

• $13.5 million, or 3%, increase in noninterest expense primarily related to strategic initiative implementation, including a $13.4 million, or 7%, increase in personnel costs and $3.2 million, or 18%, increase in marketing expense.

• Continued improvement in credit quality trends.

• 18% decline in total nonaccrual loans to $981.8 million from $1,201.3 million.

• 34%, or $94.7 million, decrease in net charge-offs to $184.5 million, or an annualized 1.98% of average total loans and leases. Excluding the impact of $80.0 million of Franklin-related net charge-offs included in the 2010 second quarter total net charge-offs of $279.2 million, third quarter net charge-offs declined $14.7 million, or 7%.

• $119.2 million loan loss provision expense, down $74.2 million from $193.4 million.

• 3.67% period-end allowance for credit losses to total loans and leases, down from 3.90%.

• 140% allowance for credit losses to nonaccrual loans coverage ratio, up from 120%.

• Solid capital

• 12.76% and 15.02% regulatory Tier 1 and Total capital ratios, up from 12.51% and 14.79%, respectively, and $2.9 billion and $2.2 billion, respectively, above the “well capitalized” thresholds.

• 7.36% Tier 1 common risked-based capital ratio, up from 7.06%.

• 6.20% tangible common equity ratio, up from 6.12%.

Significant Items Influencing Financial Performance Comparisons

From time to time, revenue, expenses, or taxes are impacted by items judged by Management to be outside of ordinary banking activities and/or by items that, while they may be associated with ordinary banking activities, are so unusually large that their outsized impact is believed by Management at that time to be infrequent or short-term in nature. Management believes the disclosure of “Significant Items” in current and prior period results aids analysts/investors in better understanding corporate performance trends. (See Significant Items under the Basis of Presentation for a full discussion). Such items impacting linked-quarter and year-over-year comparisons are noted in Table 1 below.

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Table 1 — Significant Items Influencing Earnings Performance Comparisons

Three Months Ended	Impact (1)
(in millions, except per share)	Pre-tax			EPS (2)
September 30, 2010 — GAAP income	$	100.9		$	0.10
• None
June 30, 2010 — GAAP income	$	48.8	(2)	$	0.03
• Franklin-related loans transferred into held for sale (3)		(75.5	)		(0.07	)
September 30, 2009 — GAAP loss	$	(166.2	)(2)	$	(0.33	)
• None

(1)	Favorable (unfavorable) impact on GAAP earnings; pre-tax unless otherwise noted
(2)	After-tax; EPS reflected on a fully diluted basis
(3)	Reflected in provision expense

NA- Not applicable

Franklin-Related Activity

As previously announced, at the end of the 2010 second quarter, $398 million of Franklin-related loans ($333.0 million of residential mortgages and $64.7 million of home equity loans) at a value of $323.4 million were transferred into loans held for sale. As a result of the transfer, these loans were marked to lower of cost or fair value, less cost to sell. This resulted in charge-offs at the time of transfer which, when added to other charge-offs during the quarter, resulted in total 2010 second quarter Franklin-related net charge-offs of $80.0 million ($64.2 million related to residential mortgages and $15.9 million related to home equity loans, partially offset by $0.2 million of C&I net recoveries). The 2010 second quarter provision for credit losses included $80.0 million related to Franklin, with $75.5 million related to transferring the loans into loans held for sale (see Table 1 above).

During the 2010 third quarter, the Franklin-related residential mortgages and home equity loans were sold at essentially book value. In the 2010 third quarter, there were $4.5 million of consumer net charge-offs ($1.2 million of home equity loans and $3.4 million of residential mortgages), which was offset by $4.5 million in C&I net recoveries. At September 30, 2010, the only Franklin-related assets remaining were $15.3 million of OREO, which has been written down to current fair value.

Pre-Tax, Pre-Provision Income Trends

One performance metric that Management believes is useful in analyzing performance is the level of earnings adjusted to exclude provision expense, securities gains or losses, amortization of intangibles, and certain Significant Items. (See Pre-Tax, Pre-Provision Income in Basis of Presentation for a full discussion).

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Table 2 shows pre-tax, pre-provision income was $265.2 million in the 2010 third quarter, down 2% from the prior quarter.

Table 2 — Pre-Tax, Pre-Provision Income ⁽¹⁾

	2010									2009
	Third			Second			First			Fourth			Third
(in millions)	Quarter			Quarter			Quarter			Quarter			Quarter
Income (Loss) Before Income Taxes	$	130.6		$	62.1		$	1.6		$	(598.0	)	$	(257.4	)
Add: Provision for credit losses		119.2			193.4			235.0			894.0			475.1
Less: Securities (losses) gains		(0.3	)		0.2			(0.0	)		(2.6	)		(2.4	)
Add: Amortization of intangibles		15.1			15.1			15.1			17.1			17.0
Less: Significant items (1)
Gain on early extinguishment of debt (2)		—			—			—			73.6			—
Pre-Tax, Pre-Provision Income (1)	$	265.2		$	270.5		$	251.8		$	242.1		$	237.1
Linked-quarter change — amount	$	(5.2	)	$	18.6		$	9.8		$	4.9		$	7.8
Linked-quarter change — percent		-1.9	%		7.4	%		4.0	%		2.1	%		3.4	%

(1)	See Basis of Presentation for definition
(2)	Only includes transactions deemed significant

As discussed in the sections that follow, the decline from the 2010 second quarter primarily reflected higher noninterest expense due to strategic growth initiatives, partially offset by higher revenue.

Net Interest Income, Net Interest Margin, and Average Balance Sheet

2010 Third Quarter versus 2010 Second Quarter

Compared with the 2010 second quarter, fully-taxable equivalent net interest income increased $10.4 million, or 3%. This reflected an annualized 8% increase in average earning assets as the fully-taxable equivalent net interest margin declined only slightly to 3.45% from 3.46%. The increase in average earning assets reflected a combination of activities including:

• $0.5 billion, or 6%, increase in average investment securities, reflecting the deployment of cash from asset sales and seasonal deposit growth into short- and intermediate-term securities,

• $0.3 billion, or doubling of average loans held for sale, reflecting strong mortgage originations during the quarter due to low interest rates, and

• $0.1 billion, or less than 1%, increase in average total loans and leases.

The net interest margin declined 1 basis point. Favorable trends in the mix and pricing of deposits were offset by a lower contribution on Franklin-related loans, a lower contribution from asset/liability management strategies implemented in the first three quarters, and one more day in the third quarter.

Table 3 details the increase in average total loans and leases.

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Table 3 — Loans and Leases — 3Q10 vs. 2Q10

	2010
	Third		Second		Change
(in billions)	Quarter		Quarter		Amount			%
Average Loans and Leases
Commercial and industrial	$	12.4	$	12.2	$	0.1			1	%
Commercial real estate		7.1		7.4		(0.3	)		(4	)
Total commercial		19.5		19.6		(0.1	)		(1	)
Automobile loans and leases		5.1		4.6		0.5			11
Home equity		7.6		7.5		0.0			0
Residential mortgage		4.4		4.6		(0.2	)		(5	)
Other consumer		0.7		0.7		(0.0	)		(6	)
Total consumer		17.7		17.5		0.3			2
Total loans and leases	$	37.2	$	37.1	$	0.1			0	%

Average total loans and leases increased $0.1 billion, reflecting a $0.3 billion, or 2%, increase in total consumer loans, partially offset by a $0.1 billion, or 1%, decline in average total commercial loans.

Average commercial and industrial (C&I) loans increased $0.1 billion, or 1%. Underlying growth was mitigated by a combination of paydowns on term debt, as well as the sale of $43.2 million of SBA loans. The economic environment continued to cause many customers to actively reduce their leverage position. Our line-of-credit utilization percentage was 42%, consistent with that of the prior quarter. We continue to believe that we have opportunities to expand our customer base within our markets and are focused on expanding our C&I pipeline.

Average commercial real estate loans (CRE) declined $0.3 billion, or 4%, primarily as a result of our on-going strategy to reduce our exposure to the commercial real estate market. The 4% decline in the quarter was driven by continuing paydowns and charge-off activity associated with our non-core CRE portfolio. The portion of the CRE portfolio designated as core continued to perform very well as expected, with average balances little-changed from the prior quarter.

Average total consumer loans increased $0.3 billion, or 2%, led by a $0.5 billion, or 11%, increase in average automobile loans and leases. This growth reflected record production in the quarter. We have consistently maintained historical high credit quality standards on this production while achieving an appropriate return. During the quarter, we continued the expansion of our automobile lending operations eastward, complementing our Eastern Pennsylvania operations with expansion into five New England states. The recent expansions incorporate new experienced colleagues with existing dealer relationships in those markets. Average residential mortgages decreased $0.2 billion, or 5%, reflecting loan sales. Average home equity loans were essentially unchanged from the prior quarter.

Table 4 details changes within the various deposit categories.

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Table 4 — Deposits — 3Q10 vs. 2Q10

	2010
	Third		Second		Change
(in billions)	Quarter		Quarter		Amount			%
Average Deposits
Demand deposits — noninterest bearing	$	6.8	$	6.8	$	(0.1	)		(1	)%
Demand deposits — interest bearing		5.3		6.0		(0.7	)		(11	)
Money market deposits		12.3		11.1		1.2			11
Savings and other domestic deposits		4.6		4.7		(0.0	)		(1	)
Core certificates of deposit		8.9		9.2		(0.3	)		(3	)
Total core deposits		38.0		37.8		0.2			1
Other domestic deposits of $250,000 or more		0.7		0.7		0.0			4
Brokered deposits and negotiable CDs		1.5		1.5		(0.0	)		(1	)
Other deposits		0.5		0.4		0.0			12
Total deposits	$	40.6	$	40.4	$	0.3			1	%

Average total deposits increased $0.3 billion, or 1%, from the prior quarter reflecting:

• $0.2 billion, or 1%, growth in average total core deposits. The primary driver of this growth was an 11% increase in average money market deposits. Partially offsetting this growth was an 11% decline in average interest bearing demand deposits and a 3% decline in average core certificates of deposit.

2010 Third Quarter versus 2009 Third Quarter

Fully-taxable equivalent net interest income increased $45.6 million, or 12%, from the year-ago quarter. This reflected the favorable impact of the significant increase in the net interest margin to 3.45% from 3.20%. This also reflected the benefit of a $2.0 billion, or 4%, increase in average total earning assets due to a $2.6 billion, or 39%, increase in average total investment securities, partially offset by a $0.6 billion, or 2%, decline in average total loans and leases.

Table 5 details the $0.6 billion, or 2%, decrease in average total loans and leases.

Table 5 — Loans and Leases — 3Q10 vs. 3Q09

	Third Quarter				Change
(in billions)	2010		2009		Amount			%
Average Loans and Leases
Commercial and industrial	$	12.4	$	12.9	$	(0.5	)		(4	)%
Commercial real estate		7.1		8.9		(1.8	)		(20	)
Total commercial		19.5		21.8		(2.3	)		(11	)
Automobile loans and leases		5.1		3.2		1.9			59
Home equity		7.6		7.6		(0.0	)		(0	)
Residential mortgage		4.4		4.5		(0.1	)		(2	)
Other consumer		0.7		0.8		(0.1	)		(14	)
Total consumer		17.7		16.1		1.7			11
Total loans and leases	$	37.2	$	37.9	$	(0.6	)		(2	)%

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The decrease in average total loans and leases reflected:

• $2.3 billion, or 11%, decrease in average total commercial loans. The $0.5 billion, or 4%, decline in average C&I loans reflected a general decrease in borrowing as evidenced by a decline in line-of-credit utilization, charge-off activity, and the reclassification in the 2010 first quarter of variable rate demand notes to municipal securities. These negatives were partially offset by the impact of the 2009 reclassifications of certain CRE loans, primarily representing owner occupied properties, to C&I loans. The $1.8 billion, or 20%, decrease in average CRE loans reflected these reclassifications, as well as our ongoing commitment to lower our overall CRE exposure. We continue to execute on our plan to reduce the CRE exposure while maintaining a commitment to our core CRE borrowers. The decrease in average balances is associated with the non-core portfolio, as we have maintained relatively consistent balances with good performance in the core portfolio.

• $1.7 billion, or 11%, increase in average total consumer loans. This growth reflected a $1.9 billion, or 59%, increase in average automobile loans and leases. In early 2009, we transferred automobile loans to a trust in a securitization transaction. With the adoption of ASC 810 — Consolidation, that trust was consolidated as of January 1, 2010. At September 30, 2010, these formerly securitized loans had a remaining balance of $0.6 billion. Underlying growth in automobile loans continued to be strong, reflecting a significant increase in loan originations for the first nine months of 2010 from the comparable year-ago period. The growth has come while maintaining our commitment to excellent credit quality and an appropriate return. Average home equity loans were little-changed as lower origination volume was offset by slower runoff experience and slightly higher line utilization. We continue to see the utilization increase associated with higher credit quality borrowers and very little funding associated with historically unfunded lines. Average residential mortgages declined $0.1 billion, or 2%, reflecting the impact of loan sales, as well as the continued refinance of portfolio loans and the related increased sale of fixed-rate originations.

The $2.6 billion, or 39%, increase in average total investment securities reflected the deployment of the cash from core deposit growth and loan runoff over this period, as well as the proceeds from 2009 capital actions (see Capital for a full discussion).

Table 6 details the $1.1 billion, or 3%, increase in average total deposits.

Table 6 — Deposits — 3Q10 vs. 3Q09

	Third Quarter				Change
(in billions)	2010		2009		Amount			%
Average Deposits
Demand deposits — noninterest bearing	$	6.8	$	6.2	$	0.6			9	%
Demand deposits — interest bearing		5.3		5.1		0.2			3
Money market deposits		12.3		7.6		4.7			62
Savings and other domestic deposits		4.6		4.8		(0.1	)		(3	)
Core certificates of deposit		8.9		11.6		(2.7	)		(23	)
Total core deposits		38.0		35.3		2.7			8
Other domestic deposits of $250,000 or more		0.7		0.7		(0.1	)		(8	)
Brokered deposits and negotiable CDs		1.5		3.1		(1.6	)		(51	)
Other deposits		0.5		0.4		0.0			2
Total deposits	$	40.6	$	39.6	$	1.1			3	%

8

The increase in average total deposits from the year-ago quarter reflected:

• $2.7 billion, or 8%, growth in average total core deposits. The drivers of this change were a $4.7 billion, or 62%, growth in average money market deposits, $0.6 billion, or 9%, growth in average noninterest bearing demand deposits, and $0.2 billion, or 3%, growth in average interest bearing demand deposits. These increases were partially offset by a $2.7 billion, or 23%, decline in average core certificates of deposit and a $0.1 billion, or 3%, decline in average savings and other domestic deposits.

Partially offset by:

• $1.6 billion, or 51%, decline in brokered deposits and negotiable CDs and a $0.1 billion, or 8%, decrease in average other domestic deposits over $250,000, primarily reflecting a reduction of noncore funding sources.

Provision for Credit Losses

The provision for credit losses in the 2010 third quarter was $119.2 million, down $74.2 million, or 38%, from the prior quarter and down $356.0 million, or 75%, from the year-ago quarter. Reflecting the resolution of problem credits for which reserves had been previously established, the current quarter’s provision for credit losses was $65.4 million less than total net charge-offs (see Credit Quality discussion).

Noninterest Income

2010 Third Quarter versus 2010 Second Quarter

Noninterest income decreased $2.5 million, or 1%, from the 2010 second quarter.

Table 7 — Noninterest Income — 3Q10 vs. 2Q10

	2010
	Third			Second		Change
(in millions)	Quarter			Quarter		Amount			%
Noninterest Income
Service charges on deposit accounts	$	65.9		$	75.9	$	(10.0	)		(13	)%
Brokerage and insurance income		36.4			36.5		(0.1	)		(0	)
Mortgage banking income		52.0			45.5		6.5			14
Trust services		27.0			28.4		(1.4	)		(5	)
Electronic banking income		28.1			28.1		(0.0	)		(0	)
Bank ow ned life insurance income		14.1			14.4		(0.3	)		(2	)
Automobile operating lease income		11.4			11.8		(0.5	)		(4	)
Securities gains (losses)		(0.3	)		0.2		(0.5	)	NM
Other income		32.6			28.8		3.8			13
Total noninterest income	$	267.1		$	269.6	$	(2.5	)		(1	)%

9

The decrease in total noninterest income reflected:

• $10.0 million, or 13%, decrease in service charges on deposit accounts. This decline represented a decrease in personal NSF/OD service charges and was consistent with expectations related to the implementation of changes to Regulation E, as well as the voluntary reduction in certain overdraft fee practices as part of our “Fair Play” banking philosophy introduced during the third quarter. As previously announced, in the 2009 fourth quarter the Federal Reserve Board amended Reg E to prohibit charging overdraft fees for ATM or point-of-sale debit card transactions effective July 1, 2010 unless the customer opts-in to the overdraft service. Prior to the impact of implementing the amended Reg E, for us such fees were approximately $90 million per year. Our basic strategy is to mitigate the potential impact by alerting our customers that we can no longer cover such overdrafts unless they opt-in to our overdraft service. To date, our opt-in results have surpassed our expectations. Also, during the quarter, we voluntarily reduced certain NSF/OD fees and introduced 24-Hour Grace™ on overdrafts as part of our “Fair Play” banking philosophy designed to introduce a more customer friendly fee structure with the objective of accelerating the acquisition of new households.

• $1.4 million, or 5%, decline in trust services income, primarily reflecting the seasonal reduction in tax preparation fees.

Partially offset by:

• $6.5 million, or 14%, increase in mortgage banking income. This increase reflected a $16.1 million increase on origination and secondary marketing income, as mortgage originations increased 39% with borrowers continuing to take advantage of low interest rates. This increase was partially offset by a $7.9 million decline in MSR hedging-related activities.

• $3.8 million, or 13%, increase in other income, primarily reflecting a gain on sale of SBA loans.

2010 Third Quarter versus 2009 Third Quarter

Noninterest income increased $11.1 million, or 4%, from the year-ago quarter.

Table 8 — Noninterest Income — 3Q10 vs. 3Q09

	Third Quarter						Change
(in millions)	2010			2009			Amount			%
Noninterest Income
Service charges on deposit accounts	$	65.9		$	80.8		$	(14.9	)		(18	)%
Brokerage and insurance income		36.4			34.0			2.4			7
Mortgage banking income (loss)		52.0			21.4			30.6		NM
Trust services		27.0			25.8			1.2			5
Electronic banking income		28.1			28.0			0.1			0
Bank ow ned life insurance income		14.1			13.6			0.5			3
Automobile operating lease income		11.4			12.8			(1.4	)		(11	)
Securities gains (losses)		(0.3	)		(2.4	)		2.1			88
Other income		32.6			41.9			(9.3	)		(22	)
Total noninterest income	$	267.1		$	256.1		$	11.1			4	%

10

The increase in total noninterest income reflected:

• $30.6 million increase in mortgage banking income. This reflected a $19.3 million increase in origination and secondary marketing income as originations increased 62% from the year-ago quarter, as well as a $13.6 million increase from net MSR hedging-related activities.

• $2.4 million, or 7%, increase in brokerage and insurance income, primarily reflecting an increase in title insurance income due to higher mortgage refinance activity, and to a lesser degree an increase in fixed income product sales, partially offset by lower annuity income.

Partially offset by:

• $14.9 million, or 18%, decline in service charges on deposit accounts, reflecting lower personal service charges due a combination of factors including lower activity levels, as well as the implementation of the amendment to Reg E and our “Fair Play” banking philosophy.

• $9.3 million, or 22%, decline in other income. This decline primarily reflected a $22.8 million benefit in the year-ago quarter representing the change in fair value of derivatives that did not qualify for hedge accounting. This was partially offset by a $7.5 million loss on commercial loans held for sale and other equity investment losses also in that same quarter. The decline from the year-ago quarter was partially offset by a current quarter gain on the sale of SBA loans.

Noninterest Expense

2010 Third Quarter versus 2010 Second Quarter

Noninterest expense increased $13.5 million, or 3%, from the 2010 second quarter.

Table 9 — Noninterest Expense — 3Q10 vs. 2Q10

	2010
	Third		Second		Change
(in millions)	Quarter		Quarter		Amount			%
Noninterest Expense
Personnel costs	$	208.3	$	194.9	$	13.4			7	%
Outside data processing and other services		38.6		40.7		(2.1	)		(5	)
Deposit and other insurance expense		23.4		26.1		(2.7	)		(10	)
Net occupancy		26.7		25.4		1.3			5
OREO and foreclosure expense		12.0		5.0		7.1		NM
Equipment		21.7		21.6		0.1			0
Professional services		20.7		24.4		(3.7	)		(15	)
Amortization of intangibles		15.1		15.1		0.0			0
Automobile operating lease expense		9.2		9.7		(0.5	)		(5	)
Marketing		20.9		17.7		3.2			18
Telecommunications		5.7		6.2		(0.5	)		(8	)
Printing and supplies		4.1		3.9		0.2			4
Other expense		21.0		23.3		(2.3	)		(10	)
Total noninterest expense	$	427.3	$	413.8	$	13.5			3	%
(in thousands)
Number of employees (full-time equivalent)		11.3		11.1		0.2			1	%

11

The increase in noninterest expense reflected:

• $13.4 million, or 7%, increase in personnel costs, reflecting a combination of factors including higher salaries due to a 1% increase in full-time equivalent staff in support of strategic initiatives, higher sales commissions, and retirement fund and 401(k) plan expenses.

• $7.1 million increase in OREO and foreclosure expense, as the prior quarter included a $3.7 million OREO gain and the current quarter included a $2.0 million Franklin-related OREO loss.

• $3.2 million, or 18%, increase in marketing expense, reflecting increases in branding and product advertising activities in support of strategic initiatives.

Partially offset by:

• $3.7 million, or 15%, decrease in professional services, reflecting lower legal and consulting fees.

• $2.7 million, or 10%, decline in deposit and other insurance expense, primarily reflecting our decision to exit the FDIC’s TAGP program.

• $2.3 million, or 10%, decrease in other expense, as the expense associated with increases in repurchase reserves related to representations and warranties made on mortgage loans sold declined $4.2 million.

• $2.1 million, or 5%, decline in outside data processing and other services, reflecting the reduction of Franklin servicing costs given the sale of the related loans, partially offset by higher outside programming costs.

2010 Second Quarter versus 2009 Second Quarter

Noninterest expense increased $26.2 million, or 7%, from the year-ago quarter.

12

Table 10 – Noninterest Expense – 3Q10 vs. 3Q09

	Third Quarter					Change
(in millions)	2010		2009			Amount			%
Noninterest Expense
Personnel costs	$	208.3	$	172.2		$	36.1			21	%
Outside data processing and other services		38.6		38.3			0.3			1
Deposit and other insurance expense		23.4		23.9			(0.4	)		(2	)
Net occupancy		26.7		25.4			1.3			5
OREO and foreclosure expense		12.0		39.0			(26.9	)		(69	)
Equipment		21.7		21.0			0.7			3
Professional services		20.7		18.1			2.6			14
Amortization of intangibles		15.1		17.0			(1.9	)		(11	)
Automobile operating lease expense		9.2		10.6			(1.4	)		(14	)
Marketing		20.9		8.3			12.7		NM
Telecommunications		5.7		5.9			(0.2	)		(4	)
Printing and supplies		4.1		4.0			0.1			3
Gain on early extinguishment of debt		—		(0.1	)		0.1		NM
Other expense		21.0		17.7			3.3			18
Total noninterest expense	$	427.3	$	401.1		$	26.2			7	%

(in thousands)
Number of employees (full-time equivalent)	11.3	10.2	1.1	11	%

The increase reflected:

• $36.1 million, or 21%, increase in personnel costs, primarily reflecting an 11% increase in full-time equivalent staff in support of strategic initiatives, as well as higher commissions and other incentive expenses, and the reinstatement of our 401(k) plan matching contribution.

• $12.7 million increase in marketing expense, reflecting increases in branding and product advertising activities in support of strategic initiatives.

• $3.3 million, or 18%, increase in other expense, reflecting increased travel and miscellaneous fees.

• $2.6 million, or 14%, increase in professional services, reflecting higher consulting and legal expenses.

Partially offset by:

• $26.9 million, or 69%, decline in OREO and foreclosure expense.

Income Taxes

The provision for income taxes in the 2010 third quarter was $29.7 million. This compared with a tax expense of $13.3 million in the 2010 second quarter. At September 30, 2010, we had a deferred tax asset of $389.5 million. Based on our level of forecasted future taxable income, there was no impairment of the deferred tax asset at September 30, 2010. The total disallowed deferred tax asset for regulatory capital purposes decreased to $112.9 million at September 30, 2010, from $191.1 million at June 30, 2010.

13

Credit Quality Performance Discussion

Credit quality performance in the 2010 third quarter continued to show improvement. Total net charge-offs were $184.5 million or an annualized 1.98% of average total loans and leases. This was down $94.7 million from the second quarter, which included $80.0 million of Franklin-related net charge-offs (see Franklin-Related Activity). Other key credit quality metrics also showed improvement, including a 30% decline in nonperforming assets (NPAs). We also saw a decline in the level of criticized commercial loans reflecting significant upgrade and payment activity.

The current quarter saw an overall stabilization in delinquency levels. Although our commercial delinquency levels were higher, reflecting a higher delinquency rate in our workout portfolio. In contrast, the delinquency rate on our other than workout portfolio was the lowest in recent history. Our consumer delinquency levels continued to show improvement in the 30-day category, while there was a slight increase in the 90-day category, consistent with our expectations, particularly entering a seasonally higher delinquency time period. We continue to believe that there is a significant opportunity for further improvement in the residential and home equity portfolios. Automobile loan delinquency rates continued to decline. Given the significant increase in new automobile origination volume, we use a lagged delinquency measure to ensure that the underlying portfolio performance is consistent with our expectations. Based on the lagged analysis, and the origination quality, we remain very comfortable with the on-going performance of our automobile loan portfolio.

The economic environment continues to be challenging. Yet, reflecting the benefit of our focused credit actions of last year, this year we are experiencing declines in total NPAs and loans on our watch list. This quarter’s net charge-offs were related to reserves established in prior periods. Our allowance for credit losses (ACL) declined $65.8 million to $1,376.4 million, or 3.67% of period-end total loans and leases, from $1,441.8 million, or 3.90%, at June 30, 2010. Importantly, our ACL as a percent of period-end NALs increased to 140% from 120%, along with improved coverage ratios associated with NPAs and criticized assets. These improved coverage ratios indicate a strengthening of our reserves relative to troubled assets from the end of the prior quarter.

14

Net Charge-Offs (NCOs)

Table 11 – Net Charge-offs

	2010									2009
	Third			Second			First			Fourth			Third
(in millions)	Quarter			Quarter			Quarter			Quarter			Quarter
Net Charge-offs
Commercial and industrial	$	62.2		$	58.1		$	75.4		$	109.8		$	68.8
Commercial real estate		63.7			81.7			85.3			258.1			169.2
Total commercial		125.9			139.9			160.7			367.9			238.1
Automobile loans and leases		5.6			5.4			8.5			12.9			10.7
Home equity		27.8			44.5			37.9			35.8			28.0
Residential mortgage		19.0			82.8			24.3			17.8			69.0	(1)
Other consumer		6.3			6.6			7.0			10.3			10.1
Total consumer		58.6			139.4			77.7			76.8			117.9
Total net charge-offs	$	184.5		$	279.2		$	238.5		$	444.7		$	355.9
Net Charge-offs — annualized percentages
Commercial and industrial		2.01	%		1.90	%		2.45	%		3.49	%		2.13	%
Commercial real estate		3.60			4.44			4.44			12.21			7.62
Total commercial		2.59			2.85			3.22			7.00			4.37
Automobile loans and leases		0.43			0.47			0.80			1.55			1.33
Home equity		1.47			2.36			2.01			1.89			1.48
Residential mortgage		1.73			7.19			2.17			1.61			6.15	(1)
Other consumer		3.83			3.81			3.87			5.47			5.36
Total consumer		1.32			3.19			1.83			1.91			2.94
Total net charge-offs		1.98	%		3.01	%		2.58	%		4.80	%		3.76	%
MEMO: Franklin-Related Net Charge-offs
Commercial and industrial	$	(4.5	)	$	(0.2	)	$	(0.3	)	$	0.1		$	(4.1	)
Home equity		1.2			15.9			3.7			—			(0.1	)
Residential mortgage		3.4			64.2			8.1			1.1			0.6
Total net charge-offs	$	0.0		$	80.0		$	11.5		$	1.2		$	(3.5	)

⁽¹⁾ Includes $32.0 million of charge-offs reflecting a change to accelerate the timing for when a partial charge-off is recognized and $17.6 million related to the transfer of loans to held for sale

Total net charge-offs for the 2010 third quarter were $184.5 million, or an annualized 1.98% of average total loans and leases. This was down $94.7 million from $279.2 million, or an annualized 3.01%, in the 2010 second quarter. (Note: Total net charge-offs for the 2010 third quarter were not impacted by Franklin-related net charge-offs, whereas the 2010 second quarter included $80.0 million of Franklin-related charge-offs).

Total C&I net charge-offs for the 2010 third quarter were $62.2 million, or an annualized 2.01%, up 7% from $58.1 million, or an annualized 1.90% of related loans, in the 2010 second quarter. (Note: Franklin-related C&I net recoveries in the 2010 third quarter and 2010 second quarter were $4.5 million and $0.2 million, respectively). The increase from the prior quarter was driven by two relationships with charge-offs totaling $34.9 million. We do not believe this the beginning of an upward trend, and expect to see lower losses in future periods.

15

Current quarter CRE net charge-offs were $63.7 million, down 22% from $81.7 million in the prior quarter. Annualized net charge-offs in the current quarter were 3.60%, down from 4.44% in the prior quarter. The decline was consistent with the improving asset quality metrics. The level of new NALs and criticized loans were both at the lowest level since 2008, and early stage delinquency improved substantially from the prior quarter. These trends continue to give us confidence in our outlook for improved results going forward. The third quarter charge-offs continued to be centered in retail projects and single family homebuilders although at much lower levels. The retail property portfolio remains the most susceptible to a continued decline in market conditions, but we believe that the combination of prior charge-offs and existing reserve balances positions us well to make effective credit decisions in the future. As we have previously stated, the credit issues in the single family homebuilder portfolio have been substantially addressed. We continued our ongoing portfolio management efforts during the quarter, including obtaining updated appraisals on properties and assessing each project’s status within the context of current market environment expectations.

Total consumer net charge-offs in the current quarter were $58.6 million, or an annualized 1.32%, down from $139.4 million in the second quarter. (Note: Franklin-related consumer net charge-offs in the 2010 third and second quarters were $4.5 million and $80.2 million, respectively).

Automobile loan and lease net charge-offs were $5.6 million, up slightly from $5.4 million in the second quarter. In contrast, automobile loan and lease net charge-offs as a percent of related outstandings in the 2010 third quarter decreased to 0.43% of average related loans and leases from 0.47% in the prior quarter, reflecting the growth in loans and leases outstanding. We continued our strategy of originating high quality automobile loans. During the third quarter, we originated $1,010 million of loans with an average FICO score of 767 and a continued emphasis on lower loan-to-value ratios. This level of new production positively impacted the net charge-off ratio and the quality of this production provides us with a great deal of comfort regarding future performance.

Home equity net charge-offs were $27.8 million, or an annualized 1.47% of related average balances, down $16.6 million from $44.5 million, or an annualized 2.36%, in the 2010 second quarter. (Note: Franklin-related home equity net charge-offs in the 2010 third and second quarters were $1.2 million and $15.9 million, respectively). We continue to manage the default rate through focused delinquency monitoring as virtually all defaults for home equity loans in a second lien position incur substantial losses given the lack of equity. Our strategies focus on loss mitigation activity and short sales, as we continue to believe that our more proactive loss mitigation strategies are in the best interest of both the company and our customers. While there has been a clear increase in losses given the market conditions, our performance has remained within our expectations.

Residential mortgage net charge-offs in the current quarter were $19.0 million, or an annualized 1.73% of related loans, down $63.9 million from $82.8 million, or an annualized 7.19%, in the prior quarter. (Note: Franklin-related residential mortgage net charge-offs in the 2010 third and second quarters were $3.4 million and $64.2 million, respectively). This quarter reflected consistent performance with the prior quarter on a non-Franklin related basis reflecting the continuing impact of the adverse economic environment as severity rates remained high. We did see some positive trends in the delinquency mix, and the percent of the portfolio falling into the low score ranges on our updated score process continued to decline. We continue to be very aware of the impact of the government sponsored entities (GSEs) Fannie Mae and Freddie Mac, from both a repurchase risk standpoint and the potential for a substantial increase in properties on the market in the coming months. We believe that we have mitigated the potential for repurchase risk in the portfolio. From a market conditions perspective, we are appropriately considering the impact of a large increase in the number of properties for sale over the coming months by adjusting our remarketing and sales strategies.

16

Nonaccrual Loans (NALs) and Nonperforming Assets (NPAs)

Table 12 – Nonaccrual Loans and Nonperforming Assets

	2010									2009
(in millions)	Sep. 30			Jun. 30			Mar. 31			Dec. 31			Sep. 30
Nonaccrual loans and leases (NALs):
Commercial and industrial	$	398.4		$	429.6		$	511.6		$	578.4		$	612.7
Commercial real estate		478.8			663.1			826.8			935.8			1,133.7
Residential mortgage		83.0			86.5			373.0			362.6			390.5
Home equity		21.7			22.2			54.8			40.1			44.2
Total nonaccrual loans and leases (NALs)		981.8			1,201.3			1,766.1			1,917.0			2,181.1
Other real estate, net:
Residential		65.8			71.9			68.3			71.4			81.8
Commercial		57.3			67.2			84.0			68.7			60.8
Total other real estate, net		123.1			139.1			152.3			140.1			142.6
Impaired loans held for sale (1)		—			242.2			—			1.0			20.4
Total nonperforming assets (NPAs)	$	1,104.9		$	1,582.7		$	1,918.4		$	2,058.1		$	2,344.0
Nonperforming Frankin assets
Residential mortgage	$	—		$	—		$	298.0		$	299.7		$	322.8
Home equity		—			—			31.1			15.0			15.7
OREO		15.3			24.5			24.4			23.8			31.0
Impaired loans held for sale		—			242.2			—			—			—
Total nonperforming Franklin assets	$	15.3		$	266.7		$	353.5		$	338.5		$	369.5
NAL ratio (2)		2.62	%		3.25	%		4.78	%		5.21	%		5.85	%
NPA ratio (3)		2.94			4.24			5.17			5.57			6.26

(1)	June 30, 2010, figure represents NALs associated with the transfer of Franklin-related residential mortgage and home equity loans to loans held for sale. The September 30, 2009, figure primarily represents impaired residential mortgage loans held for sale.
	All other presented figures represent impaired loans obtained in the Sky Financial acquisition.
	Held for sale loans are carried at the lower of cost or fair value less costs to sell.
(2)	Total NALs as a % of total loans and leases
(3)	Total NPAs as a % of sum of loans and leases, impaired loans held for sale, and net other real estate

Total nonaccrual loans and leases (NALs) were $981.8 million at September 30, 2010, and represented 2.62% of total loans and leases. This was down $219.5 million, or 18%, from $1,201.3 million, or 3.25% of total loans and leases, at June 30, 2010.

CRE NALs decreased $184.3 million, or 28%, from June 30, 2010, and were down 58% from its peak in the 2009 third quarter. This reflected both charge-off activity and problem credit resolutions including borrower payments and pay-offs. This decline was substantial and was a direct result of our commitment to the on-going proactive management of these credits by our Special Assets Department. Also key to this improvement was the significantly lower level of inflows. The level of inflows, or migration, is an important indicator of the future trend for the portfolio.

C&I NALs decreased $31.2 million, or 7%, from the end of prior quarter. This reflected both charge-off activity and problem credit resolutions, including pay-offs, and was associated with loans throughout our footprint, with no specific geographic concentration. From an industry perspective, improvement in the manufacturing-related segment accounted for a significant portion of the decrease.

Nonperforming assets (NPAs), which include NALs, were $1,104.9 million at September 30, 2010, and represented 2.94% of related assets. This was down $477.8 million, or 30%, from $1,582.7 million, or 4.24%, of related assets at the end of the prior quarter.

17

Table 13 – 90 Days Past Due and Accruing Restructured Loans

	2010									2009
(in millions)	Sep. 30			Jun. 30			Mar. 31			Dec. 31			Sep. 30
Accruing loans and leases past due 90 days or more:
Total excluding loans guaranteed by the U.S. Government	$	95.4		$	83.4		$	113.2		$	145.7		$	127.8
Loans guaranteed by the U.S. Government		94.2			95.4			96.8			101.6			102.9
Total loans and leases	$	189.6		$	178.8		$	210.0		$	247.3		$	230.7
Ratios (1)
Excluding government guaranteed		0.25	%		0.23	%		0.31	%		0.40	%		0.34	%
Government guaranteed		0.26			0.26			0.26			0.28			0.28
Total loans and leases		0.51			0.49			0.57			0.68			0.62
Accruing restructured loans (ARLs):
Commercial	$	158.0		$	141.4		$	117.7		$	157.0		$	153.0
Residential mortgages		287.5			269.6			242.9			219.6			204.5
Other		73.2			65.1			62.1			52.9			42.4
Total accruing restructured loans	$	518.7		$	476.0		$	422.7		$	429.6		$	399.9

⁽¹⁾ Percent of related loans and leases

Total accruing loans and leases over 90 days past due, excluding loans guaranteed by the U.S. Government, were $95.4 million at September 30, 2010, up $12.0 million, or 14%, from the end of the prior quarter, but down $32.4 million, or 25%, from the end of the year-ago period. On this same basis, the total accruing loans and leases over 90-day delinquent but still accruing ratio was 0.25% at September 30, 2010, up slightly from 0.23% at the end of the 2010 second quarter, and down 9 basis points from a year earlier. For total consumer loans, and again on this same basis, the over 90-day delinquency ratio was 0.53% at September 30, 2010, up from 0.48% at the end of the prior quarter, but down from 0.78% a year ago.

90-day loans past due and accruing interest saw a very slight increase in the quarter. This primarily reflected a seasonal increase in residential mortgage delinquencies as automobile and home equity 90-day delinquencies held fairly steady. Although some seasonal upticks are anticipated, we continue to manage our delinquency levels very closely and expect the overall positive trend to continue.

Allowances for Credit Losses (ACL)

We maintain two reserves, both of which are available to absorb inherent credit losses: the allowance for loan and lease losses (ALLL) and the allowance for unfunded loan commitments and letters of credit (AULC). When summed together, these reserves constitute the total ACL.

18

Table 14 – Allowances for Credit Losses (ACL)

	2010									2009
(in millions)	Sep. 30			Jun. 30			Mar. 31			Dec. 31,			Sep. 30,
Allow ance for loan and lease losses (ALLL)	$	1,336.4		$	1,402.2		$	1,478.0		$	1,482.5		$	1,032.0
Allow ance for unfunded loan commitments and letters of credit		40.1			39.7			49.9			48.9			50.1
Allowance for credit losses (ACL)	$	1,376.4		$	1,441.8		$	1,527.9		$	1,531.4		$	1,082.1
ALLL as a % of:
Total loans and leases		3.56	%		3.79	%		4.00	%		4.03	%		2.77	%
Nonaccrual loans and leases (NALs)		136			117			84			77			47
Nonperforming assets (NPAs)		121			89			77			72			44
ACL as a % of:
Total loans and leases		3.67	%		3.90	%		4.14	%		4.16	%		2.90	%
Nonaccrual loans and leases (NALs)		140			120			87			80			50
Nonperforming assets (NPAs)		125			91			80			74			48

At September 30, 2010, the ALLL was $1,336.4 million, down $65.8 million, or 5%, from $1,402.2 million at the end of the prior quarter. Expressed as a percent of period-end loans and leases, the ALLL ratio at September 30, 2010, was 3.56%, down from 3.79% at June 30, 2010. The ALLL as a percent of NALs was 136% at September 30, 2010, up from 117% at June 30, 2010.

At September 30, 2010, the AULC was $40.1 million, up slightly from $39.7 million at the end of the prior quarter.

On a combined basis, the ACL as a percent of total loans and leases at September 30, 2010, was 3.67%, down from 3.90% at June 30, 2010. This reduction reflected a decline in the commercial portfolio ALLL as a result of charge-offs on loans with specific reserves, and an overall reduction in the level of problem credits. The ACL as a percent of NALs was 140% at September 30, 2010, up from 120% at June 30, 2010.

Capital

Table 15 – Capital Ratios

	2010									2009
(in millions)	Jun. 30			Jun. 30			Mar. 31			Dec. 31,			Sep. 30,
Tangible common equity / tangible assets ratio		6.20	%		6.12	%		5.96	%		5.92	%		6.46	%
Tier 1 common risk-based capital ratio		7.36	%		7.06	%		6.53	%		6.69	%		7.82	%
Regulatory Tier 1 risk-based capital ratio		12.76	%		12.51	%		11.97	%		12.03	%		13.04	%
Excess over 6.0% (1)	$	2,903		$	2,766		$	2,539		$	2,608		$	3,108
Regulatory Total risk-based capital ratio		15.02	%		14.79	%		14.28	%		14.41	%		16.23	%
Excess over 10.0% (1)	$	2,156		$	2,035		$	1,820		$	1,907		$	2,750
Total risk-weighted assets	$	42,946		$	42,486		$	42,522		$	43,248		$	44,142

(1) “Well-capitalized” regulatory threshold

The tangible common equity to asset ratio at September 30, 2010, was 6.20%, up from 6.12% at the end of the prior quarter. Our Tier 1 common risk-based capital ratio at quarter end was 7.36%, up from 7.06% at the end of the prior quarter.

19

At September 30, 2010, our regulatory Tier 1 and Total risk-based capital ratios were 12.76% and 15.02%, respectively, up from 12.51% and 14.79%, respectively, at June 30, 2010. The increase in our Tier 1 and Total capital ratios from June 30, 2010, reflected a combination of factors including capital accretion due to the current quarter’s earnings and 18 basis points related to the decrease in the disallowed deferred tax assets. The total disallowed deferred tax asset for regulatory capital purposes decreased to $112.9 million at September 30, 2010, from $191.1 million at June 30, 2010. On an absolute basis, our Tier 1 and Total risk-based capital ratios at September 30, 2010, exceeded the regulatory “well capitalized” thresholds by $2.9 billion and $2.2 billion, respectively. The “well capitalized” level is the highest regulatory capital designation.

NEAR-TERM EXPECTATIONS

Commenting on near-term expectations, Steinour noted, “Economic growth and borrower and consumer confidence remain major factors. Our current expectation is that the economy will remain relatively stable for the rest of the year. Further, we face revenue headwinds due to implementing the amendment to Reg E and our voluntary actions to reduce certain fees as part of implementing our ‘Fair Play’ banking philosophy, as well as higher than trend line expenses as we continue to make investments to grow the businesses.”

Reflecting these factors, pre-tax, pre-provision income levels are expected to be in line with recent reported performance. The net interest margin is expected to be flat to down slightly, reflecting the impact of the flatter, low yield curve. Our net interest margin will also be supported by disciplined loan and deposit pricing. We anticipate continued modest growth in C&I loans, as well as continued declines in commercial real estate loans. The automobile loan portfolio is expected to continue its strong growth, though home equity and residential mortgages are likely to remain relatively flat. Core deposits are expected to show continued growth, although at slower rates due to the lack of reinvestment options at desirable spreads available for any funds generated in excess of loan growth. Fee income will continue to be negatively impacted by lower service charges on deposit accounts, as well as lower mortgage banking revenues. In contrast, other fee categories are expected to grow at a faster rate reflecting the impact of our cross-sale initiatives throughout the company. Expense levels should be in line with current quarter performance. Positive credit quality trends are expected to continue, including declines in net charge-offs, nonperforming assets, and provision for credit losses.

“We continue to target net income growth. Near-term, this is expected to primarily reflect the positive impacts of lower provision expense and growth in net interest income,” Steinour concluded.

Conference Call / Webcast Information

Huntington’s senior management will host an earnings conference call on Thursday, October 21, 2010, at 10:00 a.m. (Eastern Time). The call may be accessed via a live Internet webcast at www.huntington-ir.com or through a dial-in telephone number at (800) 267-7495; conference ID11905208. Slides will be available at www.huntington-ir.com about an hour prior to the call. A replay of the webcast will be archived in the Investor Relations section of Huntington’s web site www.huntington.com. A telephone replay will be available two hours after the completion of the call through October 29, 2010 at (800) 642-1687; conference ID 11905208.

20

Forward-looking Statement

This press release contains certain forward-looking statements, including certain plans, expectations, goals, projections, and statements, which are subject to numerous assumptions, risks, and uncertainties. Actual results could differ materially from those contained or implied by such statements for a variety of factors including: (1) credit quality performance could worsen due to a number of factors such as the underlying value of the collateral could prove less valuable than otherwise assumed and assumed cash flows may be worse than expected; (2) changes in economic conditions; (3) movements in interest rates; (4) competitive pressures on product pricing and services; (5) success and timing of other business strategies; (6) extended disruption of vital infrastructure; and (7) the nature, extent, and timing of governmental actions and reforms, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, as well as future regulations which will be adopted by the relevant regulatory agencies, including the newly created Consumer Financial Protection Bureau (CFPB), to implement the Act’s provisions. Additional factors that could cause results to differ materially from those described above can be found in Huntington’s 2009 Annual Report on Form 10-K, and documents subsequently filed by Huntington with the Securities and Exchange Commission. All forward-looking statements included in this release are based on information available at the time of the release. Huntington assumes no obligation to update any forward-looking statement.

Basis of Presentation

Use of Non-GAAP Financial Measures

This earnings press release contains GAAP financial measures and non-GAAP financial measures where management believes it to be helpful in understanding Huntington’s results of operations or financial position. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found in this earnings release, the Quarterly Financial Review supplement to this release, the 2010 third quarter earnings conference call slides, or the Form 8-K related to this release, which can be found on Huntington’s website at huntington-ir.com.

Pre-Tax, Pre-Provision Income

One non-GAAP performance metric that Management believes is useful in analyzing underlying performance trends is pre-tax, pre-provision income. This is the level of earnings adjusted to exclude the impact of:

• provision expense, which is excluded because its absolute level is elevated and volatile in times of economic stress;

• investment securities gains/losses, which are excluded because in times of economic stress securities market valuations may also become particularly volatile;

• amortization of intangibles expense, which is excluded because return on tangible common equity is a key metric used by Management to gauge performance trends; and

• certain items identified by Management (see Significant Items below) which Management believes may distort the company’s underlying performance trends.

Significant Items

From time to time, revenue, expenses, or taxes are impacted by items judged by Management to be outside of ordinary banking activities and/or by items that, while they may be associated with ordinary banking activities, are so unusually large that their outsized impact is believed by Management at that time to be infrequent or short-term in nature. We refer to such items as “Significant Items”. Most often, these Significant Items result from factors originating outside the company – e.g., regulatory actions/assessments, windfall gains, changes in accounting principles, one-time tax assessments/refunds, etc. In other cases they may result from Management decisions associated with significant corporate actions out of the ordinary course of business – e.g., merger/restructuring charges, recapitalization actions, goodwill impairment, etc.

21

Even though certain revenue and expense items are naturally subject to more volatility than others due to changes in market and economic environment conditions, as a general rule volatility alone does not define a Significant Item. For example, changes in the provision for credit losses, gains/losses from investment activities, asset valuation writedowns, etc., reflect ordinary banking activities and are, therefore, typically excluded from consideration as a Significant Item.

Management believes the disclosure of “Significant Items” in current and prior period results aids analysts/investors in better understanding corporate performance and trends so that they can ascertain which of such items, if any, they may wish to include/exclude from their analysis of the company’s performance; i.e., within the context of determining how that performance differed from their expectations, as well as how, if at all, to adjust their estimates of future performance accordingly. To this end, Management has adopted a practice of listing “Significant Items” in its external disclosure documents (e.g., earnings press releases, investor presentations, Forms 10-Q and 10-K).

“Significant Items” for any particular period are not intended to be a complete list of items that may materially impact current or future period performance. A number of items could materially impact these periods, including those described in Huntington’s 2009 Annual Report on Form 10-K and other factors described from time to time in Huntington’s other filings with the Securities and Exchange Commission.

Annualized data

Certain returns, yields, performance ratios, or quarterly growth rates are presented on an “annualized” basis. This is done for analytical and decision-making purposes to better discern underlying performance trends when compared to full year or year-over-year amounts. For example, loan and deposit growth rates, as well as net charge-off percentages, are most often expressed in terms of an annual rate like 8%. As such, a 2% growth rate for a quarter would represent an annualized 8% growth rate.

Fully-taxable equivalent interest income and net interest margin

Income from tax-exempt earning assets is increased by an amount equivalent to the taxes that would have been paid if this income had been taxable at statutory rates. This adjustment puts all earning assets, most notably tax-exempt municipal securities and certain lease assets, on a common basis that facilitates comparison of results to results of competitors.

Earnings per share equivalent data

Significant income or expense items may be expressed on a per common share basis. This is done for analytical and decision-making purposes to better discern underlying trends in total corporate earnings per share performance excluding the impact of such items. Investors may also find this information helpful in their evaluation of the company’s financial performance against published earnings per share mean estimate amounts, which typically exclude the impact of Significant Items. Earnings per share equivalents are usually calculated by applying a 35% effective tax rate to a pre-tax amount to derive an after-tax amount, which is divided by the average shares outstanding during the respective reporting period. Occasionally, when the item involves special tax treatment, the after-tax amount is disclosed separately, with this then being the amount used to calculate the earnings per share equivalent.

NM or nm

Percent changes of 100% or more are typically shown as “nm” or “not meaningful” unless required. Such large percent changes typically reflect the impact of unusual or particularly volatile items within the measured periods. Since the primary purpose of showing a percent change is to discern underlying performance trends, such large percent changes are typically “not meaningful” for such trend analysis purposes.

About Huntington

Huntington Bancshares Incorporated is a $53 billion regional bank holding company headquartered in Columbus, Ohio. Through its affiliated companies, Huntington has been providing a full range of financial services for 144 years. Huntington offers checking, loans, savings, insurance and investment services. It has more than 600 branches and also offers retail and commercial financial services online at huntington.com; through its telephone bank; and through its network of over 1,350 ATMs. Huntington’s Auto Finance and Dealer Services group offers automobile loans to consumers and commercial loans to automobile dealers within our six-state banking franchise area, as well as selected New England states.

###

22

HUNTINGTON BANCSHARES INCORPORATED
Quarterly Key Statistics⁽¹⁾
(Unaudited)

	2010						2009			Percent Changes vs.
(dollar amounts in thousands, except per share amounts)	Third			Second			Third			2Q10			3Q09
Net interest income	$	409,962		$	399,656		$	362,819			3	%		13	%
Provision for credit losses		119,160			193,406			475,136			(38	)		(75	)
Noninterest income		267,143			269,643			256,052			(1	)		4
Noninterest expense		427,309			413,810			401,097			3			7
Income (Loss) before income taxes		130,636			62,083			(257,362	)		N.M.			N.M.
Provision (Benefit) for income taxes		29,690			13,319			(91,172	)		N.M.			N.M.
Net Income (Loss)	$	100,946		$	48,764		$	(166,190	)		N.M.	%		N.M.	%
Dividends on preferred shares		29,495			29,426			29,223			—			1
Net income (loss) applicable to common shares	$	71,451		$	19,338		$	(195,413	)		N.M.	%		N.M.	%
Net income (loss) per common share — diluted	$	0.10		$	0.03		$	(0.33	)		N.M.	%		N.M.	%
Cash dividends declared per common share		0.01			0.01			0.01			—			—
Book value per common share at end of period		5.39			5.22			5.59			3			(4	)
Tangible book value per common share at end of period		4.55			4.37			4.69			4			(3	)
Average common shares — basic		716,911			716,580			589,708			—			22
Average common shares — diluted(2)		719,567			719,387			589,708			—			22
Return on average assets		0.76	%		0.38	%		(1.28	)%
Return on average shareholders’ equity		7.3			3.6			(12.5	)
Return on average tangible shareholders’ equity(3)		8.9			4.9			(13.3	)
Net interest margin(4)		3.45			3.46			3.20
Efficiency ratio(5)		60.6			59.4			61.4
Effective tax rate (benefit)		22.7			21.5			(35.4	)
Average loans and leases	$	37,214,601		$	37,088,710		$	37,855,198			—			(2	)
Average loans and leases — linked quarter annualized growth rate		1.4	%		1.2	%		(11.8	)%
Average earning assets	$	47,511,255		$	46,606,002		$	45,525,113			2			4
Average total assets		52,716,881			51,703,334			51,679,535			2			2
Average core deposits(6)		38,009,764			37,798,482			35,343,970			1			8
Average core deposits — linked quarter annualized growth rate		2.2	%		5.7	%		10.3	%
Average shareholders’ equity	$	5,519,638		$	5,397,704		$	5,285,473			2			4
Total assets at end of period		53,246,776			51,770,838			52,512,659			3			1
Total shareholders’ equity at end of period		5,567,403			5,438,436			5,675,106			2			(2	)
Net charge-offs (NCOs)		184,514			279,228			355,942			(34	)		(48	)
NCOs as a % of average loans and leases		1.98	%		3.01	%		3.76	%
Nonaccrual loans and leases (NALs)	$	981,780		$	1,201,349		$	2,181,065			(18	)		(55	)
NAL ratio		2.62	%		3.25	%		5.85	%
Nonperforming assets (NPAs)	$	1,104,864		$	1,582,702		$	2,344,042			(30	)		(53	)
NPA ratio		2.94	%		4.24	%		6.26	%
Allowance for loan and lease losses (ALLL) as a % of total loans and leases at the end of period		3.56			3.79			2.77
ALLL plus allowance for unfunded loan commitments and letters of credit (ACL) as a % of total loans and leases at the end of period		3.67			3.90			2.90
ACL as a % of NALs		140			120			50
ACL as a % of NPAs		125			91			46
Tier 1 leverage ratio(7)		10.54			10.45			11.30
Tier 1 common risk-based capital ratio(7)		7.36			7.06			7.82
Tier 1 risk-based capital ratio(7)		12.76			12.51			13.04
Total risk-based capital ratio(7)		15.02			14.79			16.23
Tangible common equity / risk-weighted assets ratio		11.56			11.36			11.41
Tangible equity / tangible assets ratio(8)		9.43			9.43			9.71
Tangible common equity / tangible assets ratio(9)		6.20			6.12			6.46

N.M., not a meaningful value.

See Notes to the Quarterly Key Statistics and Year-to-Date Key Statistics.

-23-

HUNTINGTON BANCSHARES INCORPORATED
Year to Date Key Statistics⁽¹⁾
(Unaudited)

	Nine Months Ended September 30,						Change
(dollar amounts in thousands, except per share amounts)	2010			2009			Amount			Percent
Net interest income	$	1,203,511		$	1,050,223		$	153,288			15	%
Provision for credit losses		547,574			1,180,680			(633,106	)		(54	)
Noninterest income		777,638			761,099			16,539			2
Noninterest expense		1,239,213			3,710,848			(2,471,635	)		(67	)
Income (Loss) before income taxes		194,362			(3,080,206	)		3,274,568			N.M.
Provision (Benefit) for income taxes		4,915			(355,714	)		360,629			N.M.
Net Income (Loss)	$	189,447		$	(2,724,492	)	$	2,913,939			N.M.	%
Dividends on preferred shares		88,278			145,467			(57,189	)		(39	)
Net income (loss) applicable to common shares	$	101,169		$	(2,869,959	)	$	2,971,128			N.M.	%
Net income (loss) per common share — diluted	$	0.14		$	(6.08	)	$	6.22			N.M.	%
Cash dividends declared per common share		0.03			0.03			—			—
Average common shares — basic		716,604			471,958			244,646			52
Average common shares — diluted(2)		719,182			471,958			247,224			52
Return on average assets		0.49	%		(6.95	)%
Return on average shareholders’ equity		4.7			(62.7	)
Return on average tangible shareholders’ equity(3)		6.1			(2.6	)
Net interest margin(4)		3.46			3.09
Efficiency ratio(5)		60.0			57.6
Effective tax rate (benefit)		(2.5	)		(11.5	)
Average loans and leases	$	37,095,295		$	39,231,633		$	(2,136,338	)		(5	)
Average earning assets		46,790,569			45,854,670			935,899			2
Average total assets		52,044,466			52,434,200			(389,733	)		(1	)
Average core deposits(6)		37,696,027			34,287,536			3,408,491			10
Average shareholders’ equity		5,427,591			5,805,431			(377,840	)		(7	)
Net charge-offs (NCOs)		702,223			1,031,840			(329,617	)		(32	)
NCOs as a % of average loans and leases		2.52	%		3.51	%

N.M., not a meaningful value.

See Notes to the Quarterly Key Statistics and Year-to-Date Key Statistics.

Notes to the Quarterly Key Statistics and Year-to-Date Key Statistics

(1)	Comparisons for all presented periods are impacted by a number of factors. Refer to “Significant Items”.
(2)	For all periods presented, the impact of the convertible preferred stock issued in 2008 was excluded from the diluted share calculation because the result would have been higher than basic earnings per common share (anti-dilutive) for the periods.
(3)	Net income (loss) excluding expense for amortization of intangibles for the period divided by average tangible shareholders’ equity. Average tangible shareholders’ equity equals average total shareholders’ equity less average intangible assets and goodwill. Expense for amortization of intangibles and average intangible assets are net of deferred tax liability, and calculated assuming a 35% tax rate.
(4)	On a fully-taxable equivalent (FTE) basis assuming a 35% tax rate.
(5)	Noninterest expense less amortization of intangibles and goodwill impairment divided by the sum of FTE net interest income and noninterest income excluding securities gains (losses).
(6)	Includes noninterest-bearing and interest-bearing demand deposits, money market deposits, savings and other domestic deposits, and core certificates of deposit.
(7)	September 30, 2010, figures are estimated. Based on an interim decision by the banking agencies on December 14, 2006, Huntington has excluded the impact of adopting ASC Topic 715, “Compensation — Retirement Benefits”, from the regulatory capital calculations.
(8)	Tangible equity (total equity less goodwill and other intangible assets) divided by tangible assets (total assets less goodwill and other intangible assets). Other intangible assets are net of deferred tax liability, and calculated assuming a 35% tax rate.
(9)	Tangible common equity (total common equity less goodwill and other intangible assets) divided by tangible assets (total assets less goodwill and other intangible assets). Other intangible assets are net of deferred tax liability, and calculated assuming a 35% tax rate.

-24-

EX-99.2

Exhibit 99.2

HUNTINGTON BANCSHARES INCORPORATED
Quarterly Financial Review
September 2010

Table of Contents

Consolidated Balance Sheets	1
Loans and Leases Composition	2
Deposits Composition	3
Consolidated Quarterly Average Balance Sheets	4
Consolidated Quarterly Net Interest Margin Analysis	5
Selected Quarterly Income Statement Data	6
Quarterly Mortgage Banking Income	8
Quarterly Credit Reserves Analysis	9
Quarterly Net Charge-Off Analysis	10
Quarterly Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)	11
Quarterly Accruing Past Due Loans and Leases and Accruing Restructured Loans	12
Quarterly Common Stock Summary, Capital, and Other Data	13
Consolidated Year to Date Average Balance Sheets	14
Consolidated Year to Date Net Interest Margin Analysis	15
Selected Year to Date Income Statement Data	16
Year to Date Mortgage Banking Income	18
Year to Date Credit Reserves Analysis	19
Year to Date Net Charge-Off Analysis	20
Year to Date Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)	21
Year to Date Accruing Past Due Loans and Leases and Accruing Restructured Loans	22

Notes:

The preparation of financial statement data in conformity with accounting principles 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.

Percent changes of 100% or more are typically shown as “N.M.” or “Not Meaningful”. Such large percent changes typically reflect the impact of unusual or particularly volatile items within the measured periods. Since the primary purpose of showing a percent change is to discern underlying performance trends, such large percent changes are typically “not meaningful” for such trend analysis purposes.

Huntington Bancshares Incorporated
Consolidated Balance Sheets

										Change
	2010			2009						September ’10 vs ’09
(in thousands, except numbers of shares)	September 30,			December 31,			September 30,			Amount			Percent
	(Unaudited)						(Unaudited)
Assets
Cash and due from banks	$	1,139,226		$	1,521,344		$	1,882,108		$	(742,882	)		(39	)%
Interest bearing deposits in banks		274,240			319,375			397,941			(123,701	)		(31	)
Trading account securities		138,677			83,657			121,366			17,311			14
Loans held for sale		744,439			461,647			530,861			213,578			40
Investment securities		9,723,558			8,587,914			8,503,150			1,220,408			14
Loans and leases (1)		37,500,587			36,790,663			37,304,094			196,493			1
Allowance for loan and lease losses		(1,336,352	)		(1,482,479	)		(1,031,971	)		(304,381	)		29
Net loans and leases		36,164,235			35,308,184			36,272,123			(107,888	)		—
Bank owned life insurance		1,450,335			1,412,333			1,402,134			48,201			3
Premises and equipment		489,349			496,021			496,280			(6,931	)		(1	)
Goodwill		444,268			444,268			443,648			620			—
Other intangible assets		243,666			289,098			302,612			(58,946	)		(19	)
Accrued income and other assets		2,434,783			2,630,824			2,160,436			274,347			13
Total Assets	$	53,246,776		$	51,554,665		$	52,512,659		$	734,117			1	%
Liabilities and Shareholders’ Equity
Liabilities
Deposits (2)	$	41,072,371		$	40,493,927		$	39,829,057		$	1,243,314			3	%
Short-term borrowings		1,859,134			876,241			852,076			1,007,058			N.M.
Federal Home Loan Bank advances		23,643			168,977			920,045			(896,402	)		(97	)
Other long-term debt		2,393,071			2,369,491			2,434,858			(41,787	)		(2	)
Subordinated notes		1,202,568			1,264,202			1,674,054			(471,486	)		(28	)
Accrued expenses and other liabilities		1,128,586			1,045,825			1,127,463			1,123			—
Total Liabilities		47,679,373			46,218,663			46,837,553			841,820			2
Equity
Huntington Bancshares Incorporated shareholders’ equity
Preferred stock — authorized 6,617,808 shares-
5.00% Series B Non-voting, Cumulative Preferred Stock, par value of $0.01 and liquidation value per share of $1,000		1,337,749			1,325,008			1,320,898			16,851			1
8.50% Series A Non-cumulative Perpetual Convertible Preferred Stock, par value and liquidiation value per share of $1,000		362,507			362,507			362,507			—			—
Common stock —
Par value of $0.01		7,180			7,167			7,154			26			—
Capital surplus		6,743,724			6,731,796			6,723,923			19,801			—
Less treasury shares at cost		(8,969	)		(11,465	)		(11,827	)		2,858			(24	)
Accumulated other comprehensive income (loss):
Unrealized losses on investment securities		4,568			(103,382	)		(103,010	)		107,578			N.M.
Unrealized gains (losses) on cash flow hedging derivatives		76,006			58,865			50,311			25,695			51
Pension and other postretirement benefit adjustments		(108,970	)		(112,468	)		(159,143	)		50,173			(32	)
Retained (deficit) earnings		(2,846,392	)		(2,922,026	)		(2,515,707	)		(330,685	)		13
Total Shareholders’ Equity		5,567,403			5,336,002			5,675,106			(107,703	)		(2	)
Total Liabilities and Shareholders’ Equity	$	53,246,776		$	51,554,665		$	52,512,659		$	734,117			1	%
Common shares authorized (par value of $0.01)		1,500,000,000			1,000,000,000			1,000,000,000
Common shares issued		718,015,276			716,741,249			715,409,524
Common shares outstanding		717,132,197			715,761,672			714,469,066
Treasury shares outstanding		883,079			979,577			940,458
Preferred shares issued		1,967,071			1,967,071			1,967,071
Preferred shares outstanding		1,760,578			1,760,578			1,760,578

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

	2010												2009
(dollar amounts in millions)	September 30,				June 30,				March 31,				December 31,				September 30,
	(Unaudited)				(Unaudited)				(Unaudited)								(Unaudited)
Ending Balances by Type
Commercial: (1)
Commercial and industrial (2)	$	12,425	33	%	$	12,392	34	%	$	12,245	33	%	$	12,888	35	%	$	12,547	34	%
Commercial real estate:
Construction		738	2			1,106	3			1,443	4			1,469	4			1,815	5
Commercial (2)		6,174	16			6,078	16			6,013	16			6,220	17			6,900	18
Commercial real estate (2)		6,912	18			7,184	19			7,456	20			7,689	21			8,715	23
Total commercial		19,337	51			19,576	53			19,701	53			20,577	56			21,262	57
Consumer:
Automobile loans (3)		5,296	14			4,712	13			4,212	11			3,144	9			2,939	8
Automobile leases		89	—			135	—			191	1			246	1			309	1
Home equity		7,690	21			7,510	20			7,514	20			7,563	21			7,576	20
Residential mortgage		4,511	12			4,354	12			4,614	12			4,510	12			4,468	12
Other loans		578	2			683	2			700	3			751	1			750	2
Total consumer		18,164	49			17,394	47			17,231	47			16,214	44			16,042	43
Total loans and leases	$	37,501	100	%	$	36,970	100	%	$	36,932	100	%	$	36,791	100	%	$	37,304	100	%
Ending Balances by Business Segment
Retail and Business Banking	$	14,558	39	%	$	14,521	39	%	$	14,347	39	%	$	14,394	39	%	$	14,435	39	%
Commercial Banking		7,474	20			7,411	20			7,310	20			7,439	20			7,677	21
Commercial Real Estate		6,495	17			6,861	19			7,152	19			7,525	20			7,947	21
Auto Finance and Dealer Services		6,673	18			6,070	16			5,582	15			4,609	13			4,330	12
Private Financial Group		2,198	6			2,107	6			2,047	6			2,380	7			2,450	6
Treasury / Other (4)		103	—			—	—			494	1			444	1			465	1
Total loans and leases	$	37,501	100	%	$	36,970	100	%	$	36,932	100	%	$	36,791	100	%	$	37,304	100	%
	2010												2009
	Third				Second				First				Fourth				Third
Average Balances by Business Segment
Retail and Business Banking	$	14,458	39	%	$	14,393	39	%	$	14,294	39	%	$	14,319	39	%	$	14,553	38	%
Commercial Banking		7,513	20			7,342	20			7,382	20			7,539	20			7,805	21
Commercial Real Estate		6,718	18			7,040	19			7,358	20			7,857	21			8,151	22
Auto Finance and Dealer Services		6,376	17			5,848	16			5,456	15			4,494	12			4,381	12
Private Financial Group		2,138	6			2,062	5			2,059	5			2,425	7			2,494	6
Treasury / Other (4)		12	—			404	1			431	1			455	1			471	1
Total loans and leases	$	37,215	100	%	$	37,089	100	%	$	36,980	100	%	$	37,089	100	%	$	37,855	100	%

(1)	There were no commercial loans outstanding that would be considered a concentration of lending to a particular industry.
(2)	The 2009 fourth quarter reflected net reclassifications from commercial real estate loans to commercial and industrial loans of $589.0 million.
(3)	The 2010 first quarter included an increase of $730.5 million resulting from the adoption of a new accounting standard to consolidate a previously off-balance automobile loan securitization transaction.
(4)	Comprised primarily of Franklin loans.

2

Huntington Bancshares Incorporated
Deposits Composition

	2010												2009
(dollar amounts in millions)	September 30,				June 30,				March 31,				December 31,				September 30,
	(Unaudited)				(Unaudited)				(Unaudited)								(Unaudited)
Ending Balances by Type
Demand deposits — non-interest bearing	$	6,926	17	%	$	6,463	16	%	$	6,938	17	%	$	6,907	17	%	$	6,306	16	%
Demand deposits — interest bearing		5,347	13			5,850	15			5,948	15			5,890	15			5,401	14
Money market deposits		12,679	31			11,437	29			10,644	26			9,485	23			8,548	21
Savings and other domestic deposits		4,613	11			4,652	12			4,666	12			4,652	11			4,631	12
Core certificates of deposit		8,765	21			8,974	23			9,441	23			10,453	26			11,205	28
Total core deposits		38,330	93			37,376	95			37,637	93			37,387	92			36,091	91
Other domestic deposits of $250,000 or more		730	2			678	2			684	2			652	2			689	2
Brokered deposits and negotiable CDs		1,576	4			1,373	3			1,605	4			2,098	5			2,630	7
Deposits in foreign offices		436	1			422	—			377	1			357	1			419	—
Total deposits	$	41,072	100	%	$	39,849	100	%	$	40,303	100	%	$	40,494	100	%	$	39,829	100	%
Total core deposits:
Commercial	$	12,262	32	%	$	11,515	31	%	$	11,844	31	%	$	11,368	30	%	$	10,884	30	%
Personal		26,068	68			25,861	69			25,793	69			26,019	70			25,207	70
Total core deposits	$	38,330	100	%	$	37,376	100	%	$	37,637	100	%	$	37,387	100	%	$	36,091	100	%
Ending Balances by Business Segment:
Retail and Business Banking	$	29,220	71	%	$	28,861	72	%	$	28,658	71	%	$	28,877	71	%	$	28,136	71	%
Commercial Banking		6,932	17			6,230	16			6,465	16			6,031	15			6,363	16
Commercial Real Estate		637	2			626	2			566	1			535	1			532	1
Auto Finance and Dealer Services		103	—			99	—			87	—			83	—			98	—
Private Financial Group		3,085	8			3,046	8			3,349	8			3,409	8			2,843	7
Treasury / Other (1)		1,095	2			987	2			1,178	4			1,559	5			1,857	5
Total deposits	$	41,072	100	%	$	39,849	100	%	$	40,303	100	%	$	40,494	100	%	$	39,829	100	%

	2010												2009
	Third				Second				First				Fourth				Third
Average Balances by Business Segment:
Retail and Business Banking	$	29,197	72	%	$	28,892	72	%	$	28,645	71	%	$	28,709	71	%	$	27,892	70	%
Commercial Banking		6,655	16			6,411	16			6,435	16			6,012	15			6,084	15
Commercial Real Estate		612	2			580	1			553	1			525	1			504	1
Auto Finance and Dealer Services		101	—			93	—			83	—			85	—			95	—
Private Financial Group		2,980	7			3,294	8			3,181	9			3,104	9			2,778	8
Treasury / Other (1)		1,101	3			1,097	3			1,326	3			1,779	4			2,240	6
Total deposits	$	40,646	100	%	$	40,367	100	%	$	40,223	100	%	$	40,214	100	%	$	39,593	100	%

(1) Comprised primarily of national market deposits.

3

Huntington Bancshares Incorporated
Consolidated Quarterly Average Balance Sheets
(Unaudited)

	Average Balances															Change
Fully-taxable equivalent basis	2010									2009						3Q10 vs 3Q09
(dollar amounts in millions)	Third			Second			First			Fourth			Third			Amount			Percent
Assets
Interest bearing deposits in banks	$	282		$	309		$	348		$	329		$	393		$	(111	)		(28	)%
Trading account securities		110			127			96			110			107			3			3
Federal funds sold and securities purchased under resale agreements		—			—			—			15			7			(7	)		N.M.
Loans held for sale		663			323			346			470			524			139			27
Investment securities:
Taxable		8,876			8,369			8,027			8,698			6,511			2,365			36
Tax-exempt		365			389			443			136			128			237			N.M.
Total investment securities		9,241			8,758			8,470			8,834			6,639			2,602			39
Loans and leases: (1)
Commercial:
Commercial and industrial		12,393			12,244			12,314			12,570			12,922			(529	)		(4	)
Commercial real estate:
Construction		989			1,279			1,409			1,651			1,808			(819	)		(45	)
Commercial		6,084			6,085			6,268			6,807			7,071			(987	)		(14	)
Commercial real estate		7,073			7,364			7,677			8,458			8,879			(1,806	)		(20	)
Total commercial		19,466			19,608			19,991			21,028			21,801			(2,335	)		(11	)
Consumer:
Automobile loans		5,030			4,472			4,031			3,050			2,886			2,144			74
Automobile leases		110			162			219			276			344			(234	)		(68	)
Automobile loans and leases		5,140			4,634			4,250			3,326			3,230			1,910			59
Home equity		7,567			7,544			7,539			7,561			7,581			(14	)		—
Residential mortgage		4,389			4,608			4,477			4,417			4,487			(98	)		(2	)
Other loans		653			695			723			757			756			(103	)		(14	)
Total consumer		17,749			17,481			16,989			16,061			16,054			1,695			11
Total loans and leases		37,215			37,089			36,980			37,089			37,855			(640	)		(2	)
Allowance for loan and lease losses		(1,384	)		(1,506	)		(1,510	)		(1,029	)		(950	)		(434	)		46
Net loans and leases		35,831			35,583			35,470			36,060			36,905			(1,074	)		(3	)
Total earning assets		47,511			46,606			46,240			46,847			45,525			1,986			4
Cash and due from banks		1,618			1,509			1,761			1,947			2,553			(935	)		(37	)
Intangible assets		695			710			725			737			755			(60	)		(8	)
All other assets		4,277			4,384			4,486			3,956			3,797			480			13
Total Assets	$	52,717		$	51,703		$	51,702		$	52,458		$	51,680		$	1,037			2	%
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — noninterest-bearing	$	6,768		$	6,849		$	6,627		$	6,466		$	6,186		$	582			9	%
Demand deposits — interest-bearing		5,319			5,971			5,716			5,482			5,140			179			3
Money market deposits		12,336			11,103			10,340			9,271			7,601			4,735			62
Savings and other domestic deposits		4,639			4,677			4,613			4,686			4,771			(132	)		(3	)
Core certificates of deposit		8,948			9,199			9,976			10,867			11,646			(2,698	)		(23	)
Total core deposits		38,010			37,799			37,272			36,772			35,344			2,666			8
Other domestic deposits of $250,000 or more		690			661			698			667			747			(57	)		(8	)
Brokered deposits and negotiable CDs		1,495			1,505			1,843			2,353			3,058			(1,563	)		(51	)
Deposits in foreign offices		451			402			410			422			444			7			2
Total deposits		40,646			40,367			40,223			40,214			39,593			1,053			3
Short-term borrowings		1,739			966			927			879			879			860			98
Federal Home Loan Bank advances		188			212			179			681			924			(736	)		(80	)
Subordinated notes and other long-term debt		3,672			3,836			4,062			3,908			4,136			(464	)		(11	)
Total interest bearing liabilities		39,477			38,532			38,764			39,216			39,346			131			—
All other liabilities		952			924			947			1,042			863			89			10
Shareholders’ equity		5,520			5,398			5,364			5,734			5,285			235			4
Total Liabilities and Shareholders’ Equity	$	52,717		$	51,703		$	51,702		$	52,458		$	51,680		$	1,037			2	%

N.M., not a meaningful value.

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

4

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

	Average Rates (2)
	2010									2009
Fully-taxable equivalent basis (1)	Third			Second			First			Fourth			Third
Assets
Interest bearing deposits in banks		0.21	%		0.20	%		0.18	%		0.16	%		0.28	%
Trading account securities		1.20			1.74			2.15			1.89			1.96
Federal funds sold and securities purchased under resale agreements		—			—			—			0.03			0.14
Loans held for sale		5.75			5.02			4.98			5.13			5.20
Investment securities:
Taxable		2.77			2.85			2.94			3.20			3.99
Tax-exempt		4.70			4.62			4.37			6.42			6.81
Total investment securities		2.84			2.93			3.01			3.25			4.04
Loans and leases: (3)
Commercial and industrial		5.14			5.31			5.60			5.20			5.19
Commercial real estate:
Construction		2.83			2.61			2.66			2.63			2.61
Commercial		3.91			3.69			3.60			3.40			3.43
Commercial real estate		3.76			3.49			3.43			3.25			3.26
Total commercial		4.64			4.63			4.76			4.41			4.40
Consumer:
Automobile loans		5.77			6.46			6.64			7.15			7.34
Automobile leases		6.71			6.58			6.41			6.40			6.25
Automobile loans and leases		5.79			6.46			6.63			7.09			7.22
Home equity		4.74			5.26			5.59			5.82			5.75
Residential mortgage		4.97			4.70			4.89			5.04			5.03
Other loans		7.10			6.84			7.00			6.90			7.21
Total consumer		5.19			5.49			5.73			5.92			5.91
Total loans and leases		4.90			5.04			5.21			5.07			5.04
Total earning assets		4.49	%		4.63	%		4.82	%		4.70	%		4.86	%
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — noninterest-bearing		—	%		—	%		—	%		—	%		—	%
Demand deposits — interest-bearing		0.17			0.22			0.22			0.22			0.22
Money market deposits		0.86			0.93			1.00			1.21			1.20
Savings and other domestic deposits		0.99			1.07			1.19			1.27			1.33
Core certificates of deposit		2.31			2.68			2.93			3.07			3.27
Total core deposits		1.18			1.33			1.51			1.71			1.88
Other domestic deposits of $250,000 or more		1.28			1.37			1.44			1.88			2.24
Brokered deposits and negotiable CDs		2.21			2.56			2.49			2.52			2.49
Deposits in foreign offices		0.22			0.19			0.19			0.18			0.20
Total deposits		1.21			1.37			1.55			1.75			1.92
Short-term borrowings		0.22			0.21			0.21			0.24			0.25
Federal Home Loan Bank advances		1.25			1.93			2.71			1.01			0.92
Subordinated notes and other long-term debt		2.15			2.05			2.25			2.67			2.58
Total interest bearing liabilities		1.25	%		1.41	%		1.60	%		1.80	%		1.93	%
Net interest rate spread		3.24	%		3.22	%		3.22	%		2.90	%		2.93	%
Impact of noninterest bearing funds on margin		0.21			0.24			0.25			0.29			0.27
Net interest margin		3.45	%		3.46	%		3.47	%		3.19	%		3.20	%

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

5

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

	2010									2009
(in thousands, except per share amounts)	Third			Second			First			Fourth			Third
Interest income	$	534,669		$	535,653		$	546,779		$	551,335		$	553,846
Interest expense		124,707			135,997			152,886			177,271			191,027
Net interest income		409,962			399,656			393,893			374,064			362,819
Provision for credit losses		119,160			193,406			235,008			893,991			475,136
Net interest income (loss) after provision for credit losses		290,802			206,250			158,885			(519,927	)		(112,317	)
Service charges on deposit accounts		65,932			75,934			69,339			76,757			80,811
Brokerage and insurance income		36,376			36,498			35,762			32,173			33,996
Mortgage banking income		52,045			45,530			25,038			24,618			21,435
Trust services		26,997			28,399			27,765			27,275			25,832
Electronic banking		28,090			28,107			25,137			25,173			28,017
Bank owned life insurance income		14,091			14,392			16,470			14,055			13,639
Automobile operating lease income		11,356			11,842			12,303			12,671			12,795
Securities (losses) gains		(296	)		156			(31	)		(2,602	)		(2,374	)
Other income		32,552			28,785			29,069			34,426			41,901
Total noninterest income		267,143			269,643			240,852			244,546			256,052
Personnel costs		208,272			194,875			183,642			180,663			172,152
Outside data processing and other services		38,553			40,670			39,082			36,812			38,285
Deposit and other insurance expense		23,406			26,067			24,755			24,420			23,851
Net occupancy		26,718			25,388			29,086			26,273			25,382
OREO and foreclosure expense		12,047			4,970			11,530			18,520			38,968
Equipment		21,651			21,585			20,624			20,454			20,967
Professional services		20,672			24,388			22,697			25,146			18,108
Amortization of intangibles		15,145			15,141			15,146			17,060			16,995
Automobile operating lease expense		9,159			9,667			10,066			10,440			10,589
Marketing		20,921			17,682			11,153			9,074			8,259
Telecommunications		5,695			6,205			6,171			6,099			5,902
Printing and supplies		4,062			3,893			3,673			3,807			3,950
Goodwill impairment		—			—			—			—			—
Gain on early extinguishment of debt (2)		—			—			—			(73,615	)		(60	)
Other expense		21,008			23,279			20,468			17,443			17,749
Total noninterest expense		427,309			413,810			398,093			322,596			401,097
Income (Loss) before income taxes		130,636			62,083			1,644			(597,977	)		(257,362	)
Provision (Benefit) for income taxes		29,690			13,319			(38,093	)		(228,290	)		(91,172	)
Net income (loss)	$	100,946		$	48,764		$	39,737		$	(369,687	)	$	(166,190	)
Dividends on preferred shares		29,495			29,426			29,357			29,289			29,223
Net income (loss) applicable to common shares	$	71,451		$	19,338		$	10,380		$	(398,976	)	$	(195,413	)
Average common shares — basic		716,911			716,580			716,320			715,336			589,708
Average common shares — diluted (3)		719,567			719,387			718,593			715,336			589,708
Per common share
Net income (loss) — basic	$	0.10		$	0.03		$	0.01		$	(0.56	)	$	(0.33	)
Net income (loss) — diluted		0.10			0.03			0.01			(0.56	)		(0.33	)
Cash dividends declared		0.01			0.01			0.01			0.01			0.01
Return on average total assets		0.76	%		0.38	%		0.31	%		(2.80	)%		(1.28	)%
Return on average total shareholders’ equity		7.3			3.6			3.0			(25.6	)		(12.5	)
Return on average tangible shareholders’ equity (4)		8.9			4.9			4.2			(27.9	)		(13.3	)
Net interest margin (5)		3.45			3.46			3.47			3.19			3.20
Efficiency ratio (6)		60.6			59.4			60.1			49.0			61.4
Effective tax rate (benefit)		22.7			21.5			N.M.			(38.2	)		(35.4	)
Revenue — fully-taxable equivalent (FTE)
Net interest income	$	409,962		$	399,656		$	393,893		$	374,064		$	362,819
FTE adjustment		2,631			2,490			2,248			2,497			4,177
Net interest income (5)		412,593			402,146			396,141			376,561			366,996
Noninterest income		267,143			269,643			240,852			244,546			256,052
Total revenue (5)	$	679,736		$	671,789		$	636,993		$	621,107		$	623,048

6

(1)	Comparisons for presented periods are impacted by a number of factors. Refer to “Significant Items” for additional discussion regarding these key factors.
(2)	The 2009 fourth quarter gain related to the purchase of certain subordinated bank notes.
(3)	For all the quarterly periods presented above, the impact of the convertible preferred stock issued in 2008 was excluded from the diluted share calculation. It was excluded because the result would have been higher than basic earnings per common share (anti-dilutive) for the periods.
(4)	Net income (loss) excluding expense for amortization of intangibles for the period divided by average tangible shareholders’ equity. Average tangible shareholders’ equity equals average total shareholders’ equity less average intangible assets and goodwill. Expense for amortization of intangibles and average intangible assets are net of deferred tax liability, and calculated assuming a 35% tax rate.
(5)	On a fully-taxable equivalent (FTE) basis assuming a 35% tax rate.
(6)	Noninterest expense less amortization of intangibles and goodwill impairment divided by the sum of FTE net interest income and noninterest income excluding securities gains (losses).

7

Huntington Bancshares Incorporated
Quarterly Mortgage Banking Income
(Unaudited)

	2010									2009						3Q10 vs 3Q09
(in thousands, except as noted)	Third			Second			First			Fourth			Third			Amount			Percent
Mortgage Banking Income
Origination and secondary marketing	$	35,840		$	19,778		$	13,586		$	16,473		$	16,491		$	19,349			N.M.	%
Servicing fees		12,053			12,178			12,418			12,289			12,320			(267	)		(2	)
Amortization of capitalized servicing		(13,003	)		(10,137	)		(10,065	)		(10,791	)		(10,050	)		(2,953	)		29
Other mortgage banking income		4,966			3,664			3,210			4,468			4,107			859			21
Subtotal		39,856			25,483			19,149			22,439			22,868			16,988			74
MSR valuation adjustment (1)		(12,047	)		(26,221	)		(5,772	)		15,491			(17,348	)		5,301			(31	)
Net trading gains (losses) related to MSR hedging		24,236			46,268			11,661			(13,310	)		15,913			8,323			52
Total mortgage banking income	$	52,045		$	45,530		$	25,038		$	24,620		$	21,433		$	30,612			N.M.	%
Mortgage originations (in millions)	$	1,619		$	1,161		$	869		$	1,131		$	998		$	621			62	%
Average trading account securities used to hedge MSRs (in millions)		23			28			18			19			19			4			21
Capitalized mortgage servicing rights (2)		161,594			179,138			207,552			214,592			200,969			(39,375	)		(20	)
Total mortgages serviced for others (in millions) (2)		15,713			15,954			15,968			16,010			16,145			(432	)		(3	)
MSR % of investor servicing portfolio		1.03	%		1.12	%		1.30	%		1.34	%		1.24	%		(0.21	)%		(17	)
Net Impact of MSR Hedging
MSR valuation adjustment (1)	$	(12,047	)	$	(26,221	)	$	(5,772	)	$	15,491		$	(17,348	)	$	5,301			(31	)%
Net trading gains (losses) related to MSR hedging		24,236			46,268			11,661			(13,310	)		15,913			8,323			52
Net interest income related to MSR hedging		32			58			169			168			191			(159	)		(83	)
Net impact of MSR hedging	$	12,221		$	20,105		$	6,058		$	2,349		$	(1,244	)	$	13,465			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)

	2010									2009
(dollar amounts in thousands)	Third			Second			First			Fourth			Third
Allowance for loan and lease losses, beginning of period	$	1,402,160		$	1,477,969		$	1,482,479		$	1,031,971		$	917,680
Loan and lease losses		(221,144	)		(312,954	)		(264,222	)		(471,486	)		(377,443	)
Recoveries of loans previously charged off		36,630			33,726			25,741			26,739			21,501
Net loan and lease losses		(184,514	)		(279,228	)		(238,481	)		(444,747	)		(355,942	)
Provision for loan and lease losses		118,788			203,633			233,971			895,255			472,137
Allowance of assets sold		(82	)		(214	)		—			—			—
Allowance for loans transferred to held-for-sale		—			—			—			—			(1,904	)
Allowance for loan and lease losses, end of period	$	1,336,352		$	1,402,160		$	1,477,969		$	1,482,479		$	1,031,971
Allowance for unfunded loan commitments and letters of credit, beginning of period	$	39,689		$	49,916		$	48,879		$	50,143		$	47,144
Provision for (Reduction in) unfunded loan commitments and letters of credit losses		372			(10,227	)		1,037			(1,264	)		2,999
Allowance for unfunded loan commitments and letters of credit, end of period	$	40,061		$	39,689		$	49,916		$	48,879		$	50,143
Total allowances for credit losses	$	1,376,413		$	1,441,849		$	1,527,885		$	1,531,358		$	1,082,114
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases		3.56	%		3.79	%		4.00	%		4.03	%		2.77	%
Nonaccrual loans and leases (NALs)		136			117			84			77			47
Nonperforming assets (NPAs)		121			89			77			72			44
Total allowances for credit losses (ACL) as % of:
Total loans and leases		3.67	%		3.90	%		4.14	%		4.16	%		2.90	%
Nonaccrual loans and leases		140			120			87			80			50
Nonperforming assets		125			91			80			74			46

9

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

	2010									2009
(dollar amounts in thousands)	Third			Second			First			Fourth			Third
Net charge-offs by loan and lease type:
Commercial:
Commercial and industrial	$	62,241		$	58,128		$	75,439		$	109,816		$	68,842	(1)
Commercial real estate:
Construction		17,936			45,562			34,426			85,345			50,359
Commercial		45,725			36,169			50,873			172,759			118,866
Commercial real estate		63,661			81,731			85,299			258,104			169,225
Total commercial		125,902			139,859			160,738			367,920			238,067
Consumer:
Automobile loans		5,208			5,219			7,666			11,374			8,988
Automobile leases		362			217			865			1,554			1,753
Automobile loans and leases		5,570			5,436			8,531			12,928			10,741
Home equity		27,827			44,470	(2)		37,901			35,764			28,045
Residential mortgage (3)		18,961			82,848	(3)		24,311			17,789			68,955	(4)
Other loans		6,254			6,615			7,000			10,346			10,134
Total consumer		58,612			139,369			77,743			76,827			117,875
Total net charge-offs	$	184,514		$	279,228		$	238,481		$	444,747		$	355,942
Net charge-offs — annualized percentages:
Commercial:
Commercial and industrial (1)		2.01	%		1.90	%		2.45	%		3.49	%		2.13	%
Commercial real estate:
Construction		7.25			14.25			9.77			20.68			11.14
Commercial		3.01			2.38			3.25			10.15			6.72
Commercial real estate		3.60			4.44			4.44			12.21			7.62
Total commercial		2.59			2.85			3.22			7.00			4.37
Consumer:
Automobile loans		0.41			0.47			0.76			1.49			1.25
Automobile leases		1.32			0.54			1.58			2.25			2.04
Automobile loans and leases		0.43			0.47			0.80			1.55			1.33
Home equity (2)		1.47			2.36			2.01			1.89			1.48
Residential mortgage (3), (4)		1.73			7.19			2.17			1.61			6.15
Other loans		3.83			3.81			3.87			5.47			5.36
Total consumer		1.32			3.19			1.83			1.91			2.94
Net charge-offs as a % of average loans		1.98	%		3.01	%		2.58	%		4.80	%		3.76	%

(1)	The 2009 third quarter included net recoveries totaling $4,080 thousand associated with the Franklin restructuring.
(2)	The 2010 second quarter included net charge-offs of $14,678 thousand associated with the transfer of Franklin-related loans to loans held for sale and $1,262 thousand of other Franklin-related net charge-offs.
(3)	The 2010 second quarter included net charge-offs of $60,822 thousand associated with the transfer of Franklin-related loans to loans held for sale and $3,403 thousand of other Franklin-related net charge-offs.
(4)	Effective with the 2009 third quarter, a change to accelerate the timing for when a partial charge-off is recognized was made. This change resulted in $31,952 thousand of charge-offs in the 2009 third quarter. The 2009 third quarter also included $17,615 thousand of charge-offs related to the transfer of loans to held for sale.

10

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

	2010									2009
(dollar amounts in thousands)	September 30,			June 30,			March 31,			December 31,			September 30,
Nonaccrual loans and leases (NALs):
Commercial and industrial	$	398,353		$	429,561		$	511,588		$	578,414		$	612,701
Commercial real estate		478,754			663,103			826,781			935,812			1,133,661
Alt-A mortgages		11,188			15,119			13,368			11,362			9,810
Interest-only mortgages		14,334			13,811			8,193			7,445			8,336
Franklin residential mortgages		—			—			297,967			299,670			322,796
Other residential mortgages		57,462			57,556			53,422			44,153			49,579
Total residential mortgages		82,984			86,486			372,950			362,630			390,521
Home equity		21,689			22,199			54,789			40,122			44,182
Total nonaccrual loans and leases		981,780			1,201,349			1,766,108			1,916,978			2,181,065
Other real estate, net:
Residential		65,775			71,937			68,289			71,427			81,807
Commercial		57,309			67,189			83,971			68,717			60,784
Total other real estate, net		123,084			139,126			152,260			140,144			142,591
Impaired loans held for sale (1)		—			242,227			—			969			20,386
Total nonperforming assets	$	1,104,864		$	1,582,702		$	1,918,368		$	2,058,091		$	2,344,042
Nonperforming Franklin assets:
Residential mortgage		—		$	—		$	297,967		$	299,670		$	322,796
Home Equity		—			—			31,067			15,004			15,704
OREO		15,330			24,515			24,423			23,826			30,996
Impaired loans held for sale		—			242,227			—			—			—
Total nonperforming Franklin assets	$	15,330		$	266,742		$	353,457		$	338,500		$	369,496
Nonaccrual loans and leases as a % of total loans and leases		2.62	%		3.25	%		4.78	%		5.21	%		5.85	%
NPA ratio (2)		2.94			4.24			5.17			5.57			6.26

	2010									2009
	Third			Second			First			Fourth			Third
Nonperforming assets, beginning of period	$	1,582,702		$	1,918,368		$	2,058,091		$	2,344,042		$	2,002,584
New nonperforming assets		278,388			171,595			237,914			494,607			899,855
Franklin impact, net		(244,389	)		(86,715	)		14,957			(30,996	)		(18,771	)
Returns to accruing status		(111,168	)		(78,739	)		(80,840	)		(85,867	)		(52,498	)
Loan and lease losses		(155,553	)		(173,159	)		(185,387	)		(391,635	)		(305,405	)
OREO losses		(5,302	)		2,483			(4,160	)		(7,394	)		(30,623	)
Payments		(213,095	)		(140,881	)		(107,640	)		(222,790	)		(117,710	)
Sales		(26,719	)		(30,250	)		(14,567	)		(41,876	)		(33,390	)
Nonperforming assets, end of period	$	1,104,864		$	1,582,702		$	1,918,368		$	2,058,091		$	2,344,042

(1)

The June 30, 2010, figure represented NALs associated with the transfer of Franklin-related residential mortgage and home equity loans to loans held for sale. The September 30, 2009, figure primarily represented impaired residential mortgage loans held for sale. All other presented figures represented impaired loans obtained from the Sky Financial acquisition. Held for sale loans are carried at the lower of cost or fair value less costs to sell.

(2)

Nonperforming assets divided by the sum of loans and leases, impaired loans held for sale, and net other real estate.

11

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

	2010									2009
(dollar amounts in thousands)	September 30,			June 30,			March 31,			December 31,			September 30,
Accruing loans and leases past due 90 days or more:
Commercial and industrial	$	—		$	—		$	475		$	—		$	—
Commercial real estate		—			—			—			—			2,546
Residential mortgage (excluding loans guaranteed by the U.S. government)		56,803			47,036			72,702			78,915			65,716
Home equity		27,160			26,797			29,438			53,343			45,334
Other loans and leases		11,423			9,533			10,598			13,400			14,175
Total, excl. loans guaranteed by the U.S. government		95,386			83,366			113,213			145,658			127,771
Add: loans guaranteed by U.S. government		94,249			95,421			96,814			101,616			102,895
Total accruing loans and leases past due 90 days or more, including loans guaranteed by the U.S. government	$	189,635		$	178,787		$	210,027		$	247,274		$	230,666
Ratios:
Excluding loans guaranteed by the U.S. government, as a percent of total loans and leases		0.25	%		0.23	%		0.31	%		0.40	%		0.34	%
Guaranteed by U.S. government, as a percent of total loans and leases		0.26	%		0.26	%		0.26	%		0.28	%		0.28	%
Including loans guaranteed by the U.S. government, as a percent of total loans and leases		0.51	%		0.49	%		0.57	%		0.68	%		0.62	%
Accruing troubled debt restructured loans
Commercial	$	157,971		$	141,353		$	117,667		$	157,049		$	153,010
Alt-A mortgages		59,250			57,993			57,897			57,278			58,367
Interest-only mortgages		7,798			7,794			8,413			7,890			10,072
Other residential mortgages		220,433			203,783			176,560			154,471			136,024
Total residential mortgages		287,481			269,570			242,870			219,639			204,463
Other		73,210			65,061			62,148			52,871			42,406
Total accruing troubled debt restructured loans	$	518,662		$	475,984		$	422,685		$	429,559		$	399,879

(1) Percent of related loans and leases.

12

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

Quarterly common stock summary

	2010						2009
(dollar amounts in thousands, except per share amounts)	Third		Second		First		Fourth		Third
Common stock price, per share
High (1)	$	6.450	$	7.400	$	5.810	$	4.770	$	4.970
Low (1)		5.040		5.260		3.650		3.500		3.260
Close		5.690		5.540		5.390		3.650		4.710
Average closing price		5.787		6.130		4.840		3.970		4.209
Dividends, per share
Cash dividends declared per common share	$	0.01	$	0.01	$	0.01	$	0.01	$	0.01
Common shares outstanding
Average — basic		716,911		716,580		716,320		715,336		589,708
Average — diluted (2)		719,567		719,387		718,593		715,336		589,708
Ending		717,132		716,623		716,557		715,762		714,469
Book value per common share	$	5.39	$	5.22	$	5.13	$	5.10	$	5.59
Tangible book value per common share (3)		4.55		4.37		4.26		4.21		4.69

Capital data

	2010									2009
(dollar amounts in millions)	September 30,			June 30,			March 31,			December 31,			September 30,
Calculation of tangible equity / asset ratio:
Total shareholders’ equity	$	5,567		$	5,438		$	5,370		$	5,336		$	5,675
Less: goodwill		(444	)		(444	)		(444	)		(444	)		(444	)
Less: other intangible assets		(244	)		(259	)		(274	)		(289	)		(303	)
Add: related deferred tax liability (3)		85			91			95			101			106
Total tangible equity		4,964			4,826			4,747			4,704			5,034
Less: Preferred equity		(1,700	)		(1,696	)		(1,692	)		(1,688	)		(1,683	)
Total tangible common equity	$	3,264		$	3,130		$	3,055		$	3,016		$	3,351
Total assets	$	53,247		$	51,771		$	51,867		$	51,555		$	52,513
Less: goodwill		(444	)		(444	)		(444	)		(444	)		(444	)
Less: other intangible assets		(244	)		(259	)		(274	)		(289	)		(303	)
Add: related deferred tax liability (3)		85			91			95			101			106
Total tangible assets	$	52,644		$	51,159		$	51,244		$	50,923		$	51,872
Tangible equity / tangible asset ratio		9.43	%		9.43	%		9.26	%		9.24	%		9.71	%
Tangible common equity / tangible asset ratio		6.20			6.12			5.96			5.92			6.46
Other capital data:
Total risk-weighted assets	$	42,946		$	42,486		$	42,522		$	43,248		$	44,142
Tier 1 leverage ratio (4)		10.54	%		10.45	%		10.05	%		10.09	%		11.30	%
Tier 1 common risk-based capital ratio (4)		7.36			7.06			6.53			6.69			7.82
Tier 1 risk-based capital ratio (4)		12.76			12.51			11.97			12.03			13.04
Total risk-based capital ratio (4)		15.02			14.79			14.28			14.41			16.23
Tangible equity / risk-weighted assets ratio		11.56			11.36			11.16			10.88			11.41
Other data:
Number of employees (full-time equivalent)		11,279			11,117			10,678			10,272			10,194
Number of domestic full-service branches (5)		617			617			617			611			610

(1)	High and low stock prices are intra-day quotes obtained from NASDAQ.
(2)	For all of the quarterly periods presented above, the impact of the convertible preferred stock issued in 2008 was excluded from the diluted share calculation because the result would have been higher than basic earnings per common share (anti-dilutive) for the periods.
(3)	Other intangible assets are net of deferred tax liability, and calculated assuming a 35% tax rate.
(4)	September 30, 2010, figures are estimated. Based on an interim decision by the banking agencies on December 14, 2006, Huntington has excluded the impact of adopting ASC Topic 715, “Compensation — Retirement Benefits”, from the regulatory capital calculations.
(5)	Includes 9 Private Financial Group offices.

13

Huntington Bancshares Incorporated
Consolidated Year to Date Average Balance Sheets
(Unaudited)

	YTD Average Balances
Fully-taxable equivalent basis	Nine Months Ended September 30,						Change
(in millions)	2010			2009			Amount			Percent
Assets
Interest bearing deposits in banks	$	313		$	372		$	(59	)		(16	)%
Trading account securities		111			157			(46	)		(29	)
Federal funds sold and securities purchased under resale agreements		—			8			(8	)		N.M.
Loans held for sale		445			620			(175	)		(28	)
Investment securities:
Taxable		8,428			5,227			3,201			61
Tax-exempt		399			239			160			67
Total investment securities		8,827			5,466			3,361			61
Loans and leases: (1)
Commercial:
Commercial and industrial		12,317			13,327			(1,010	)		(8	)
Commercial real estate:
Construction		1,224			1,928			(704	)		(37	)
Commercial		6,145			7,464			(1,319	)		(18	)
Commercial real estate		7,369			9,392			(2,023	)		(22	)
Total commercial		19,686			22,719			(3,033	)		(13	)
Consumer:
Automobile loans		4,515			3,193			1,322			41
Automobile leases		163			427			(264	)		(62	)
Automobile loans and leases		4,678			3,620			1,058			29
Home equity		7,550			7,600			(50	)		(1	)
Residential mortgage		4,491			4,584			(93	)		(2	)
Other loans		690			709			(19	)		(3	)
Total consumer		17,409			16,513			896			5
Total loans and leases		37,095			39,232			(2,137	)		(5	)
Allowance for loan and lease losses		(1,466	)		(931	)		(535	)		57
Net loans and leases		35,629			38,301			(2,672	)		(7	)
Total earning assets		46,791			45,855			936			2
Cash and due from banks		1,629			2,195			(566	)		(26	)
Intangible assets		709			1,626			(917	)		(56	)
All other assets		4,381			3,689			692			19
Total Assets	$	52,044		$	52,434		$	(390	)		(1	)%
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — noninterest-bearing	$	6,748		$	5,919		$	829			14	%
Demand deposits — interest-bearing		5,667			4,591			1,076			23
Money market deposits		11,267			6,524			4,743			73
Savings and other domestic deposits		4,643			4,946			(303	)		(6	)
Core certificates of deposit		9,371			12,308			(2,937	)		(24	)
Total core deposits		37,696			34,288			3,408			10
Other domestic deposits of $250,000 or more		683			899			(216	)		(24	)
Brokered deposits and negotiable CDs		1,613			3,414			(1,801	)		(53	)
Deposits in foreign offices		421			509			(88	)		(17	)
Total deposits		40,413			39,110			1,303			3
Short-term borrowings		1,214			951			263			28
Federal Home Loan Bank advances		193			1,423			(1,230	)		(86	)
Subordinated notes and other long-term debt		3,855			4,461			(606	)		(14	)
Total interest bearing liabilities		38,927			40,026			(1,099	)		(3	)
All other liabilities		941			684			257			38
Shareholders’ equity		5,428			5,805			(377	)		(6	)
Total Liabilities and Shareholders’ Equity	$	52,044		$	52,434		$	(390	)		(1	)%

N.M., not a meaningful value.

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

14

Huntington Bancshares Incorporated
Consolidated Year to Date Net Interest Margin Analysis
(Unaudited)

	YTD Average Rates (2)
	Nine Months Ended September 30,
Fully-taxable equivalent basis (1)	2010			2009
Assets
Interest bearing deposits in banks		0.20	%		0.36	%
Trading account securities		1.68			3.24
Federal funds sold and securities purchased under resale agreements		—			0.19
Loans held for sale		5.36			5.15
Investment securities:
Taxable		2.85			4.60
Tax-exempt		4.56			6.72
Total investment securities		2.93			4.70
Loans and leases (3):
Commercial:
Commercial and industrial		5.35			4.92
Commercial real estate:
Construction		2.69			2.72
Commercial		3.73			3.59
Commercial real estate		3.56			3.41
Total commercial		4.68			4.30
Consumer:
Automobile loans		6.26			7.26
Automobile leases		6.55			6.13
Automobile loans and leases		6.27			7.13
Home equity		5.20			5.55
Residential mortgage		4.85			5.29
Other loans		6.98			8.09
Total consumer		5.46			5.93
Total loans and leases		5.05			4.99
Total earning assets		4.64	%		4.94	%
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — noninterest-bearing		—	%		—	%
Demand deposits — interest-bearing		0.20			0.19
Money market deposits		0.92			1.13
Savings and other domestic deposits		1.08			1.40
Core certificates of deposit		2.65			3.53
Total core deposits		1.34			2.07
Other domestic deposits of $250,000 or more		1.36			2.63
Brokered deposits and negotiable CDs		2.43			2.67
Deposits in foreign offices		0.20			0.19
Total deposits		1.38			2.12
Short-term borrowings		0.21			0.26
Federal Home Loan Bank advances		1.94			1.03
Subordinated notes and other long-term debt		2.15			2.94
Total interest bearing liabilities		1.42			2.12
Net interest rate spread		3.22			2.82
Impact of noninterest bearing funds on margin		0.24			0.27
Net interest margin		3.46	%		3.09	%

(1)	Fully-taxable equivalent (FTE) yields are calculated assuming a 35% tax rate. See page 16 for the FTE adjustment.
(2)	Loan and lease and deposit average rates include impact of applicable derivatives, non-deferrable fees, and amortized fees.
(3)	For purposes of this analysis, nonaccrual loans are reflected in the average balances of loans.

15

Huntington Bancshares Incorporated
Selected Year to Date Income Statement Data (1)
(Unaudited)

	Nine Months Ended September 30,						Change
(in thousands, except per share amounts)	2010			2009			Amount			Percent
Interest income	$	1,617,101		$	1,686,807		$	(69,706	)		(4	)%
Interest expense		413,590			636,584			(222,994	)		(35	)
Net interest income		1,203,511			1,050,223			153,288			15
Provision for credit losses		547,574			1,180,680			(633,106	)		(54	)
Net interest income (loss) after provision for credit losses		655,937			(130,457	)		786,394			N.M.
Service charges on deposit accounts		211,205			226,042			(14,837	)		(7	)
Brokerage and insurance income		108,636			105,996			2,640			2
Mortgage banking income		122,613			87,680			34,933			40
Trust services		83,161			76,364			6,797			9
Electronic banking		81,334			74,978			6,356			8
Bank owned life insurance income		44,953			40,817			4,136			10
Automobile operating lease income		35,501			39,139			(3,638	)		(9	)
Securities losses		(171	)		(7,647	)		7,476			(98	)
Other income		90,406			117,730			(27,324	)		(23	)
Total noninterest income		777,638			761,099			16,539			2
Personnel costs		586,789			519,819			66,970			13
Outside data processing and other services		118,305			111,283			7,022			6
Deposit and other insurance expense		74,228			89,410			(15,182	)		(17	)
Net occupancy		81,192			79,000			2,192			3
OREO and foreclosure expense		28,547			75,379			(46,832	)		(62	)
Equipment		63,860			62,663			1,197			2
Professional services		67,757			51,220			16,537			32
Amortization of intangibles		45,432			51,247			(5,815	)		(11	)
Automobile operating lease expense		28,892			32,920			(4,028	)		(12	)
Marketing		49,756			23,975			25,781			N.M.
Telecommunications		18,071			17,880			191			1
Printing and supplies		11,628			11,673			(45	)		—
Goodwill impairment		—			2,606,944			(2,606,944	)		N.M.
Gain on early extinguishment of debt (2)		—			(73,827	)		73,827			N.M.
Other expense		64,756			51,262			13,494			26
Total noninterest expense		1,239,213			3,710,848			(2,471,635	)		(67	)
Income (Loss) before income taxes		194,362			(3,080,206	)		3,274,568			N.M.
Provision (Benefit) for income taxes		4,915			(355,714	)		360,629			N.M.
Net income (loss)	$	189,447		$	(2,724,492	)	$	2,913,939			N.M.	%
Dividends declared on preferred shares		88,278			145,467			(57,189	)		(39	)
Net income (loss) applicable to common shares	$	101,169		$	(2,869,959	)	$	2,971,128			N.M.	%
Average common shares — basic		716,604			471,958			244,646			52	%
Average common shares — diluted (3)		719,182			471,958			247,224			52
Per common share
Net income (loss) per common share — basic	$	0.14		$	(6.08	)	$	6			N.M.	%
Net income (loss) per common share — diluted		0.14			(6.08	)		6.22			N.M.
Cash dividends declared		0.03			0.03			—			—
Return on average total assets		0.49	%		(6.95	)%		7.44	%		N.M.	%
Return on average total shareholders’ equity		4.7			(62.7	)		67.4			N.M.
Return on average tangible shareholders’ equity (4)		6.1			(2.6	)		8.7			N.M.
Net interest margin (5)		3.46			3.09			0.37			12
Efficiency ratio (6)		60.0			57.6			2.4			4
Effective tax rate (benefit)		(2.5	)		(11.5	)		9.0			(78	)
Revenue — fully taxable equivalent (FTE)
Net interest income	$	1,203,511		$	1,050,223		$	153,288			15	%
FTE adjustment (5)		7,369			8,975			(1,606	)		(18	)
Net interest income		1,210,880			1,059,198			151,682			14
Noninterest income		777,638			761,099			16,539			2
Total revenue	$	1,988,518		$	1,820,297		$	168,221			9	%

N.M., not a meaningful value.

16

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

17

Huntington Bancshares Incorporated
Year to Date Mortgage Banking Income
(Unaudited)

	Nine Months Ended September 30,						Change
(in thousands, except as noted)	2010			2009			Amount			Percent
Mortgage Banking Income
Origination and secondary marketing	$	69,204		$	78,238		$	(9,034	)		(12	)%
Servicing fees		36,649			36,205			444			1
Amortization of capitalized servicing		(33,205	)		(36,780	)		3,575			(10	)
Other mortgage banking income		11,840			18,894			(7,054	)		(37	)
Subtotal		84,488			96,557			(12,069	)		(12	)
MSR valuation adjustment (1)		(44,040	)		18,814			(62,854	)		N.M.
Net trading gains (losses) related to MSR hedging		82,165			(27,691	)		109,856			N.M.
Total mortgage banking income	$	122,613		$	87,680		$	34,933			40	%
Mortgage originations (in millions)	$	3,649		$	4,131		$	(482	)		(12	)%
Average trading account securities used to hedge MSRs (in millions)		23			87			(64	)		(74	)
Capitalized mortgage servicing rights (2)		161,594			200,969			(39,375	)		(20	)
Total mortgages serviced for others (in millions) (2)		15,713			16,145			(432	)		(3	)
MSR % of investor servicing portfolio		1.03	%		1.24	%		(0.21	)%		(17	)
Net Impact of MSR Hedging
MSR valuation adjustment (1)	$	(44,040	)	$	18,814		$	(62,854	)		N.M.	%
Net trading gains (losses) related to MSR hedging		82,165			(27,691	)		109,856			N.M.
Net interest income related to MSR hedging		259			2,831			(2,572	)		(91	)
Net impact of MSR hedging	$	38,384		$	(6,046	)	$	44,430			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.

18

Huntington Bancshares Incorporated
Year to Date Credit Reserves Analysis
(Unaudited)

	Nine Months Ended September 30,
(dollar amounts in thousands)	2010			2009
Allowance for loan and lease losses, beginning of period	$	1,482,479		$	900,227
Loan and lease losses		(798,320	)		(1,089,892	)
Recoveries of loans previously charged off		96,097			58,052
Net loan and lease losses		(702,223	)		(1,031,840	)
Provision for loan and lease losses		556,392			1,174,676
Allowance of assets sold		(296	)		(9,188	)
Allowance for loans transferred to held-for-sale		—			(1,904	)
Allowance for loan and lease losses, end of period	$	1,336,352		$	1,031,971
Allowance for unfunded loan commitments and letters of credit, beginning of period	$	48,879		$	44,139
(Reduction in) Provision for unfunded loan commitments and letters of credit losses		(8,818	)		6,004
Allowance for unfunded loan commitments and letters of credit, end of period	$	40,061		$	50,143
Total allowances for credit losses	$	1,376,413		$	1,082,114
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases		3.56	%		2.77	%
Nonaccrual loans and leases (NALs)		136			47
Nonperforming assets (NPAs)		121			44
Total allowances for credit losses (ACL) as % of:
Total loans and leases		3.67	%		2.90	%
Nonaccrual loans and leases (NALs)		140			50
Nonperforming assets (NPAs)		125			46

19

Huntington Bancshares Incorporated
Year to Date Net Charge-Off Analysis
(Unaudited)

	Nine Months Ended September 30,
(dollar amounts in thousands)	2010			2009
Net charge-offs by loan and lease type:
Commercial:
Commercial and industrial	$	195,808		$	377,790	(1)
Commercial real estate:
Construction		97,924			107,361
Commercial		132,767			317,266
Commercial real estate		230,691			424,627
Total commercial		426,499			802,417
Consumer:
Automobile loans		18,093			36,338
Automobile leases		1,444			7,066
Automobile loans and leases		19,537			43,404
Home equity		110,198	(2)		70,412
Residential mortgage		126,120	(3)		92,413
Other loans		19,869			23,194
Total consumer		275,724			229,423
Total net charge-offs	$	702,223		$	1,031,840
Net charge-offs — annualized percentages:
Commercial:
Commercial and industrial (1)		2.12	%		3.78	%
Commercial real estate:
Construction		10.67			7.42
Commercial		2.88			5.67
Commercial real estate		4.17			6.03
Total commercial		2.89			4.71
Consumer:
Automobile loans		0.53			1.52
Automobile leases		1.18			2.21
Automobile loans and leases		0.56			1.60
Home equity (2)		1.95			1.24
Residential mortgage (3)		3.74			2.69
Other loans		3.84			4.36
Total consumer		2.11			1.85
Net charge-offs as a % of average loans		2.52	%		3.51	%

(1)	The 2009 first nine-month period included net charge-offs associated with the Franklin relationship totaling $114,374 thousand.
(2)	The 2010 first nine-month period included net charge-offs of $14,678 thousand associated with the transfer of Franklin-related loans to loans held for sale and $6,143 thousand of other Franklin-related net charge-offs.
(3)	The 2010 first nine-month period included net charge-offs of $60,822 thousand associated with the transfer of Franklin-related loans to loans held for sale and $14,914 thousand of other Franklin-related net charge-offs.

20

Huntington Bancshares Incorporated
Year to Date Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)
(Unaudited)

	September 30,
(dollar amounts in thousands)	2010			2009
Nonaccrual loans and leases (NALs):
Commercial and industrial	$	398,353		$	612,701
Commercial real estate		478,754			1,133,661
Alt-A mortgages		11,188			9,810
Interest-only mortgages		14,334			8,336
Franklin residential mortgages		—			322,796
Other residential mortgages		57,462			49,579
Total residential mortgages		82,984			390,521
Home equity		21,689			44,182
Total nonaccrual loans and leases		981,780			2,181,065
Other real estate, net:
Residential		65,775			81,807
Commercial		57,309			60,784
Total other real estate, net		123,084			142,591
Impaired loans held for sale (1)		—			20,386
Other NPAs		—			—
Total nonperforming assets	$	1,104,864		$	2,344,042
Nonperforming Franklin assets:
Commercial	$	—		$	—
Residential mortgage		—			322,796
Home Equity		—			15,704
OREO		15,330			30,996
Impaired loans held for sale		—			—
Total nonperforming Franklin assets	$	15,330		$	369,496
Nonaccrual loans and leases as a % of total loans and leases		2.62	%		5.85	%
NPA ratio (2)		2.94			6.26

	Nine Months Ended June 30,
	2010			2009
Nonperforming assets, beginning of period	$	2,058,091		$	1,636,646
New nonperforming assets		687,897			2,272,688
Franklin impact, net		(316,147	)		(280,730	)
Acquired nonperforming assets		—			—
Returns to accruing status		(270,747	)		(129,469	)
Loan and lease losses		(514,099	)		(756,500	)
OREO losses		(6,979	)		(55,271	)
Payments		(461,616	)		(274,286	)
Sales		(71,536	)		(69,036	)
Nonperforming assets, end of period	$	1,104,864		$	2,344,042

(1)	The September 30, 2009, figure represented impaired residential mortgage loans held for sale. Loans held for sale are carried at the lower of cost or fair value less costs to sell.
(2)	Nonperforming assets divided by the sum of loans and leases, impaired loans held for sale, net other real estate, and other NPAs.

21

Huntington Bancshares Incorporated
Year to Date Accruing Past Due Loans and Leases and Accruing Troubled Debt Restructured Loans
(Unaudited)

	September 30,
(dollar amounts in thousands)	2010			2009
Accruing loans and leases past due 90 days or more:
Commercial and industrial	$	—		$	—
Commercial real estate		—			2,546
Residential mortgage (excluding loans guaranteed by the U.S. government)		56,803			65,716
Home equity		27,160			45,334
Other loans and leases		11,423			14,175
Total, excl. loans guaranteed by the U.S. government		95,386			127,771
Add: loans guaranteed by U.S. government		94,249			102,895
Total accruing loans and leases past due 90 days or more, including loans guaranteed by the U.S. government	$	189,635		$	230,666
Ratios:
Excluding loans guaranteed by the U.S. government, as a percent of total loans and leases		0.25	%		0.34	%
Guaranteed by U.S. government, as a percent of total loans and leases		0.26	%		0.28	%
Including loans guaranteed by the U.S. government, as a percent of total loans and leases		0.51	%		0.62	%
Accruing troubled debt restructured loans
Commercial	$	157,971		$	153,010
Alt-A mortgages		59,250			58,367
Interest-only mortgages		7,798			10,072
Other residential mortgages		220,433			136,024
Total residential mortgages		287,481			204,463
Other		73,210			42,406
Total accruing troubled debt restructured loans	$	518,662		$	399,879

22