Exhibit 99.2

HUNTINGTON BANCSHARES INCORPORATED
Quarterly Financial Review
September 2004

Table of Contents

Consolidated Balance Sheets	1
Loans, Leases and Deposits	2
Consolidated Quarterly Average Balance Sheets	3
Consolidated Quarterly Net Interest Margin Analysis	4
Selected Quarterly Income Statement Data	5
Quarterly Credit Reserves and Net Charge-Off Analysis	6
Quarterly Non-Performing Assets and Past Due Loans and Leases	7
Quarterly Stock Summary, Capital, and Other Data	8
Quarterly Operating Lease Performance	9
Consolidated YTD Average Balance Sheets and Net Interest Margin Analysis	10
Selected YTD Income Statement Data	11
YTD Credit Reserves and Net Charge-Off Analysis	12
YTD Operating Lease Performance	13

Note:

The preparation of financial statements in conformity with accounting principals generally accepted in the United States requires management to make estimates and assumptions that affect amounts reported in the financial statements. Actual results could differ from those estimates. Certain prior period amounts have been reclassified to conform to the current year’s presentation.

Huntington Bancshares Incorporated
Consolidated Balance Sheets

	September 30,			December 31,			September 30,			Change September ’04 vs. ’03
(in thousands, except number of shares)	2004			2003			2003			Amount			Percent
	(Unaudited)						(Unaudited)
Assets
Cash and due from banks	$	1,053,358		$	899,689		$	775,423		$	277,935			35.8	%
Federal funds sold and securities purchased under resale agreements		838,833			96,814			87,196			751,637			N.M.
Interest bearing deposits in banks		36,155			33,627			37,857			(1,702	)		(4.5	)
Trading account securities		120,334			7,589			415			119,919			N.M.
Loans held for sale		205,913			226,729			411,792			(205,879	)		(50.0	)
Investment securities		4,150,044			4,929,060			4,283,475			(133,431	)		(3.1	)
Loans and leases (1)		22,587,259			21,075,118			21,172,747			1,414,512			6.7
Allowance for loan and lease losses		(282,650	)		(299,732	)		(336,398	)		53,748			(16.0	)
Net loans and leases		22,304,609			20,775,386			20,836,349			1,468,260			7.0
Operating lease assets		717,411			1,260,440			1,454,590			(737,179	)		(50.7	)
Bank owned life insurance		954,911			927,671			917,261			37,650			4.1
Premises and equipment		356,438			349,712			338,863			17,575			5.2
Goodwill and other intangible assets		216,011			217,009			217,212			(1,201	)		(0.6	)
Customers’ acceptance liability		8,787			9,553			9,208			(421	)		(4.6	)
Accrued income and other assets		844,689			786,047			759,282			85,407			11.2
Total Assets	$	31,807,493		$	30,519,326		$	30,128,923		$	1,678,570			5.6	%
Liabilities and Shareholders’ Equity
Deposits (1)	$	20,109,025		$	18,487,395		$	18,833,856		$	1,275,169			6.8	%
Short-term borrowings		1,215,887			1,452,304			1,400,047			(184,160	)		(13.2	)
Federal Home Loan Bank advances		1,270,454			1,273,000			1,273,000			(2,546	)		(0.2	)
Other long-term debt		4,094,185			4,544,509			4,269,288			(175,103	)		(4.1	)
Subordinated notes		1,040,901			990,470			791,045			249,856			31.6
Allowance for unfunded loan commitments and letters of credit		30,007			35,522			33,737			(3,730	)		—
Bank acceptances outstanding		8,787			9,553			9,208			(421	)		(4.6	)
Accrued expenses and other liabilities		1,577,330			1,451,571			1,277,286			300,044			23.5
Total Liabilities		29,346,576			28,244,324			27,887,467			1,459,109			5.2
Shareholders’ equity
Preferred stock - authorized 6,617,808 shares; none outstanding		—			—			—			—			—
Common stock - without par value; authorized 500,000,000 shares; issued 257,866,255 shares; outstanding 230,153,486; 229,008,088 and 228,869,936 shares, respectively		2,482,904			2,483,542			2,482,370			534			0.0
Less 27,712,769; 28,858,167 and 28,996,319 treasury shares, respectively		(526,967	)		(548,576	)		(550,766	)		23,799			(4.3	)
Accumulated other comprehensive income (loss)		(13,812	)		2,678			25,865			(39,677	)		N.M.
Retained earnings		518,792			337,358			283,987			234,805			82.7
Total Shareholders’ Equity		2,460,917			2,275,002			2,241,456			219,461			9.8
Total Liabilities and Shareholders’ Equity	$	31,807,493		$	30,519,326		$	30,128,923		$	1,678,570			5.6	%

N.M. - Not Meaningful.

⁽¹⁾ See Page 2 for detail of Loans and Deposits.

1

Huntington Bancshares Incorporated
Loans, Leases and Deposits

Loans and Leases Portfolio Composition (Direct Financing and Operating):

	September 30, 2004				December 31, 2003				September 30, 2003				Change Sept ’04 vs. ’03
(in thousands)	Balance		%		Balance		%		Balance		%		$ Chg			% Chg
	(Unaudited)								(Unaudited)
By Type
Comercial
Commercial and industrial (1)	$	5,440,353		23.3	$	5,313,517		23.7	$	5,433,498		24.0	$	6,855			0	%
Commercial real estate (1)		4,473,351		19.2		4,172,083		18.6		4,046,759		17.8		426,592			11	%
Total Commercial		9,913,704		42.5		9,485,600		42.4		9,480,257		41.8		433,447			5	%
Consumer
Automobile loans		1,884,924		8.1		2,991,642		13.4		3,708,777		16.4		(1,823,853	)		(49	%)
Automobile leases		2,316,801		9.9		1,902,170		8.5		1,687,618		7.4		629,183			37	%
Home equity (2)		4,046,602		17.4		3,639,264		16.3		3,497,767		15.4		548,835			16	%
Residential mortgage (2)		4,003,921		17.2		2,681,003		12.0		2,414,879		10.6		1,589,042			66	%
Other loans (2)		421,307		1.8		375,439		1.7		383,449		1.7		37,858			10	%
Total Consumer		12,673,555		54.4		11,589,518		51.8		11,692,490		51.6		981,065			8	%
Total Loans and Direct Financing Leases	$	22,587,259		96.9	$	21,075,118		94.2	$	21,172,747		93.4	$	1,414,512			7	%
Operating lease assets		717,411		3.1		1,260,440		5.6		1,454,590		6.4		(737,179	)		(51	%)
Securitized loans		—		—		37,337		0.2		48,964		0.2		(48,964	)		N.M.
Total Credit Exposure	$	23,304,670		100.0	$	22,372,895		100.0	$	22,676,301		100.0	$	628,369			3	%
Total Automobile Exposure (3)	$	4,919,136		21.1	$	6,191,589		27.7	$	6,899,949		30.4	$	(1,980,813	)		(29	%)
By Business Segment (4)
Regional Banking
Central Ohio	$	5,944,288		25.5	$	4,652,070		20.8	$	5,292,963		23.3	$	651,325			12	%
Northern Ohio		2,808,724		12.1		2,578,970		11.5		2,638,764		11.6		169,960			6	%
Southern Ohio / Kentucky		1,826,034		7.8		1,676,930		7.5		1,623,163		7.2		202,871			12	%
West Michigan		2,235,619		9.6		2,076,734		9.3		2,027,929		8.9		207,690			10	%
East Michigan		1,387,543		6.0		1,267,682		5.7		1,305,740		5.8		81,803			6	%
West Virginia		866,120		3.7		801,938		3.6		—		—		866,120			0	%
Indiana		862,833		3.7		730,620		3.3		741,371		3.3		121,462			16	%
Total Regional Banking		15,931,161		68.4		13,784,944		61.7		13,629,930		60.1		2,301,231			17	%
Dealer Sales		5,774,482		24.8		7,095,900		31.7		7,597,956		33.5		(1,823,474	)		(24	%)
Private Financial Group		1,395,223		6.0		1,296,412		5.8		1,259,801		5.6		135,422			11	%
Treasury / Other		203,804		0.8		195,639		0.8		188,614		0.8		15,190			8	%
Total Credit Exposure	$	23,304,670		100.0	$	22,372,895		100.0	$	22,676,301		100.0	$	628,369			3	%

Deposit Liabilities:

	September 30, 2004				December 31, 2003				September 30, 2003				Change Sept ’04 vs. ’03
(in thousands)	Balance		%		Balance		%		Balance		%		$ Chg			% Chg
By Type
Demand deposits
Non-interest bearing	$	3,264,145		16.2	$	2,986,992		16.2	$	3,003,679		15.9	$	260,466			9	%
Interest bearing		7,471,779		37.2		6,411,380		34.7		6,425,529		34.1		1,046,250			16	%
Savings deposits		2,982,836		14.8		2,959,993		16.0		2,999,620		15.9		(16,784	)		(1	%)
Retail certificates of deposit		2,441,387		12.1		2,461,531		13.3		2,514,191		13.3		(72,804	)		(3	%)
Other domestic time deposits		587,658		2.9		631,205		3.4		592,640		3.1		(4,982	)		(1	%)
Total Core Deposits		16,747,805		83.3		15,451,101		83.6		15,535,659		82.5		1,212,146			8	%
Domestic time deposits of $100,000 or more		997,952		5.0		789,341		4.3		843,528		4.5		154,424			18	%
Brokered time deposits and negotiable CDs		1,896,135		9.4		1,771,738		9.6		1,851,992		9.8		44,143			2	%
Foreign time deposits		467,133		2.3		475,215		2.6		602,677		3.2		(135,544	)		(22	%)
Total Deposits	$	20,109,025		100.0	$	18,487,395		100.0	$	18,833,856		100.0	$	1,275,169			7	%
Core Deposits:
Commercial	$	5,227,613		26.0	$	4,254,904		23.0	$	4,346,656		23.1	$	880,957			20	%
Personal		11,520,192		57.3		11,196,197		60.6		11,189,003		59.4		331,189			3	%
Total Core Deposits	$	16,747,805		83.3	$	15,451,101		83.6	$	15,535,659		82.5	$	1,212,146			8	%
By Business Segment (4)
Regional Banking
Central Ohio	$	4,399,547		21.9	$	4,183,982		22.6	$	5,422,728		28.8	$	(1,023,181	)		(19	%)
Northern Ohio		4,014,703		20.0		3,505,457		19.0		3,622,523		19.2		392,180			11	%
Southern Ohio / Kentucky		1,601,147		8.0		1,441,875		7.8		1,436,834		7.6		164,313			11	%
West Michigan		2,699,172		13.4		2,457,296		13.3		2,528,965		13.4		170,207			7	%
East Michigan		2,169,538		10.8		1,988,200		10.8		2,000,855		10.6		168,683			8	%
West Virginia		1,380,823		6.9		1,314,450		7.1		—		—		1,380,823			0	%
Indiana		665,683		3.3		647,662		3.5		661,068		3.5		4,615			1	%
Total Regional Banking		16,930,613		84.3		15,538,922		84.1		15,672,973		83.1		1,257,640			8	%
Dealer Sales		69,924		0.3		77,408		0.4		64,875		0.3		5,049			8	%
Private Financial Group		1,124,894		5.6		1,164,020		6.3		1,116,911		5.9		7,983			1	%
Treasury / Other (5)		1,983,594		9.8		1,707,045		9.2		1,979,097		10.7		4,497			0	%
Total Deposits	$	20,109,025		100.0	$	18,487,395		100.0	$	18,833,856		100.0	$	1,275,169			7	%

N.M. - Not Meaningful.

⁽¹⁾   Effective June 30, 2004, $282 million of commercial and industrial loans were reclassified to commercial real estate to conform to the classification of these loans with the presentation of similar loans.

⁽²⁾   Consumer loans that are secured by a first mortgage on residential property are presented as “residential mortgage loans.” Consumer loans that are secured by a junior mortgage on residential property are presented as “Home equity loans.” Reclassification of prior period balances have been made to conform with this presentation.

⁽³⁾   Sum of automobile loans and leases, operating lease assets, and securitized loans.

⁽⁴⁾   Prior period amounts have been reclassified to conform to the current period business segment structure.

⁽⁵⁾   Comprised largely of brokered deposits and negotiable CDs.

2

Huntington Bancshares Incorporated
Consolidated Quarterly Average Balance Sheets
(Unaudited)

	Average Balances
																Change
(in millions)	2004									2003						3Q04 vs. 3Q03
Fully Taxable Equivalent Basis	Third			Second			First			Fourth			Third			Amount			Percent
Assets
Interest bearing deposits in banks	$	55		$	69		$	79		$	83		$	90		$	(35	)		(38.9	)%
Trading account securities		148			28			16			11			11			137			N.M.
Federal funds sold and securities purchased under resale agreements		318			168			92			117			103			215			N.M.
Loans held for sale		283			254			207			295			898			(615	)		(68.5	)
Investment securities:
Taxable		4,340			4,861			4,646			4,093			3,646			694			19.0
Tax exempt		398			410			437			421			362			36			9.9
Total Investment Securities		4,738			5,271			5,083			4,514			4,008			730			18.2
Loans and Leases:
Commercial and industrial		5,339			5,536			5,365			5,382			5,380			(41	)		(0.8	)
Real Estate
Construction		1,577			1,322			1,322			1,297			1,258			319			25.4
Commercial		2,890			2,906			2,876			2,830			2,744			146			5.3
Consumer
Automobile loans		1,857			2,337			3,041			3,529			3,594			(1,737	)		(48.3	)
Automobile leases		2,250			2,139			1,988			1,802			1,590			660			41.5
Total Automobile Loans and Leases		4,107			4,476			5,029			5,331			5,184			(1,077	)		(20.8	)
Home equity (1)		3,970			3,824			3,693			3,556			3,443			527			15.3
Residential mortgage (1)		3,906			3,326			2,846			2,624			2,122			1,784			84.1
Other loans (1)		406			377			371			386			381			25			6.6
Total Consumer		12,389			12,003			11,939			11,897			11,130			1,259			11.3
Total Loans and Leases		22,195			21,767			21,502			21,406			20,512			1,683			8.2
Allowance for loan and lease losses		(288	)		(310	)		(313	)		(350	)		(330	)		42			(12.7	)
Net Loans and Leases		21,907			21,457			21,189			21,056			20,182			1,725			8.5
Total Earning Assets		27,737			27,557			26,979			26,426			25,622			2,115			8.3
Operating lease assets		800			977			1,166			1,355			1,565			(765	)		(48.9	)
Cash and due from banks		928			772			740			766			747			181			24.2
Intangible assets		216			216			217			217			218			(2	)		(0.9	)
All other assets		2,072			2,101			2,046			2,008			2,061			11			0.5
Total Assets	$	31,465		$	31,313		$	30,835		$	30,422		$	29,883		$	1,582			5.3	%
Liabilities and Shareholders’ Equity
Core deposits
Non-interest bearing deposits	$	3,276		$	3,223		$	3,017		$	3,131		$	3,218		$	58			1.8	%
Interest bearing demand deposits		7,384			7,168			6,609			6,466			6,558			826			12.6
Savings deposits		2,841			2,839			2,819			2,824			2,808			33			1.2
Retail certificates of deposit		2,414			2,400			2,399			2,492			2,561			(147	)		(5.7	)
Other domestic time deposits		595			600			637			631			656			(61	)		(9.3	)
Total Core Deposits		16,510			16,230			15,481			15,544			15,801			709			4.5
Domestic time deposits of $100,000 or more		886			795			788			828			803			83			10.3
Brokered time deposits and negotiable CDs		1,755			1,737			1,907			1,851			1,421			334			23.5
Foreign time deposits		476			542			549			522			536			(60	)		(11.2	)
Total Deposits		19,627			19,304			18,725			18,745			18,561			1,066			5.7
Short-term borrowings		1,342			1,396			1,603			1,433			1,393			(51	)		(3.7	)
Federal Home Loan Bank advances		1,270			1,270			1,273			1,273			1,273			(3	)		(0.2	)
Subordinated notes and other long-term debt, including preferred capital securities		5,244			5,623			5,557			5,432			5,197			47			0.9
Total Interest Bearing Liabilities		24,207			24,370			24,141			23,752			23,206			1,001			4.3
All other liabilities		1,570			1,397			1,399			1,311			1,220			350			28.7
Shareholders’ equity		2,412			2,323			2,278			2,228			2,239			173			7.7
Total Liabilities and Shareholders’ Equity	$	31,465		$	31,313		$	30,835		$	30,422		$	29,883		$	1,582			5.3	%

N.M. - Not Meaningful.

⁽¹⁾   Consumer loans that are secured by a first mortgage on residential property are presented as “residential mortgage loans.” Consumer loans that are secured by a junior mortgage on residential property are presented as “Home equity loans.” Reclassification of prior period balances have been made to conform with this presentation.

3

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

	Average Rates (2)
(in millions)	2004									2003
Fully Taxable Equivalent Basis (1)	Third			Second			First			Fourth			Third
Assets
Interest bearing deposits in banks		0.91	%		1.07	%		0.71	%		0.60	%		0.51	%
Trading account securities		4.44			3.02			3.98			2.39			4.70
Federal funds sold and securities purchased under resale agreements		1.53			1.21			1.41			1.30			1.92
Loans held for sale		5.25			5.17			5.33			5.31			5.16
Securities:
Taxable		3.83			3.83			4.06			4.24			4.23
Tax exempt		7.06			7.07			6.88			6.91			6.93
Total Securities		4.10			4.09			4.30			4.49			4.47
Loans and Leases: (2)
Commercial and industrial		4.63			4.25			4.49			4.82			4.84
Real Estate
Construction		4.11			3.70			3.68			4.24			4.17
Commercial		4.76			4.57			4.70			4.99			5.22
Consumer
Automobile loans		7.65			7.20			6.93			6.90			7.19
Automobile leases		5.02			5.06			4.94			4.98			4.99
Automobile Loans and Leases		6.21			6.17			6.14			6.25			6.51
Home equity		4.72			4.73			4.47			4.75			5.03
Residential mortgage		5.52			5.36			5.16			5.24			5.34
Other loans		6.89			6.33			5.62			8.15			7.93
Total Consumer		5.54			5.49			5.52			5.64			5.87
Total Loans and Leases		5.12			4.95			5.04			5.26			5.41
Total Earning Assets		4.89	%		4.76	%		4.89	%		5.11	%		5.23	%
Liabilities and Shareholders’ Equity
Core deposits
Non-interest bearing deposits
Interest bearing demand deposits		1.06	%		0.81	%		0.88	%		0.91	%		1.04	%
Savings deposits		0.83			0.82			0.94			1.22			1.35
Retail certificates of deposit		3.32			3.27			3.47			3.54			3.51
Other domestic time deposits		3.22			3.19			3.48			3.69			3.89
Total Core Deposits		1.52			1.45			1.53			1.65			1.76
Domestic time deposits of $100,000 or more		2.40			2.37			2.14			2.37			2.32
Brokered time deposits and negotiable CDs		1.84			1.57			1.51			1.52			1.63
Foreign time deposits		0.83			0.76			0.72			0.75			0.85
Total Deposits		1.58			1.48			1.53			1.64			1.75
Short-term borrowings		0.92			0.80			0.83			0.78			0.85
Federal Home Loan Bank advances		2.60			2.52			2.50			2.24			1.81
Subordinated notes and other long-term debt, including preferred capital securities		2.62			2.24			2.33			2.63			2.78
Total Interest Bearing Liabilities		1.82	%		1.66	%		1.71	%		1.85	%		1.93	%
Net interest rate spread		3.07	%		3.10	%		3.18	%		3.26	%		3.30	%
Impact of non-interest bearing funds on margin		0.23			0.19			0.18			0.16			0.16
Net Interest Margin		3.30	%		3.29	%		3.36	%		3.42	%		3.46	%

⁽¹⁾   Fully taxable equivalent (FTE) yields are calculated assuming a 35% tax rate. See page 5 for the FTE adjustment.

⁽²⁾   Loan and lease and deposit average rates include impact of applicable derivatives and non-deferrable fees.

4

Huntington Bancshares Incorporated
Selected Quarterly Income Statement Data
(Unaudited)

	2004									2003						3Q04 vs 2Q04						3Q04 vs 3Q03
(in thousands, except per share amounts)	Third			Second			First			Fourth			Third			$ Chg			% Chg			$ Chg			% Chg
Interest Income	$	338,002		$	324,167		$	325,931		$	335,097		$	333,320		$	13,835			4.3	%	$	4,682			1.4	%
Interest Expense		110,944			101,604			103,246			110,782			112,849			9,340			9.2			(1,905	)		(1.7	)
Net Interest Income		227,058			222,563			222,685			224,315			220,471			4,495			2.0			6,587			3.0
Provision for credit losses		11,785			5,027			25,596			26,341			51,615			6,758			N.M.			(39,830	)		(77.2	)
Net Interest Income After Provision for Credit Losses		215,273			217,536			197,089			197,974			168,856			(2,263	)		(1.0	)		46,417			27.5
Operating lease income		64,412			78,706			88,867			105,307			117,624			(14,294	)		(18.2	)		(53,212	)		(45.2	)
Service charges on deposit accounts		43,935			43,596			41,837			44,763			42,294			339			0.8			1,641			3.9
Trust services		17,064			16,708			16,323			15,793			15,365			356			2.1			1,699			11.1
Brokerage and insurance income		13,200			13,523			15,197			14,344			13,807			(323	)		(2.4	)		(607	)		(4.4	)
Mortgage banking		4,448			23,322			(4,296	)		9,677			30,193			(18,874	)		(80.9	)		(25,745	)		(85.3	)
Bank owned life insurance income		10,019			11,309			10,485			10,410			10,438			(1,290	)		(11.4	)		(419	)		(4.0	)
Other service charges and fees		10,799			10,645			9,513			9,237			10,499			154			1.4			300			2.9
Gain on sales of automobile loans		312			4,890			9,004			16,288			—			(4,578	)		(93.6	)		312			—
Gain on sale of branch offices		—			—			—			—			13,112			—			—			(13,112	)		N.M.
Securities gains (losses)		7,803			(9,230	)		15,090			1,280			(4,107	)		17,033			N.M.			11,910			N.M.
Other		17,899			24,659			25,619			19,411			23,543			(6,760	)		(27.4	)		(5,644	)		(24.0	)
Total Non-Interest Income		189,891			218,128			227,639			246,510			272,768			(28,237	)		(12.9	)		(82,877	)		(30.4	)
Personnel costs		121,729			119,715			121,624			115,762			113,170			2,014			1.7			8,559			7.6
Operating lease expense		54,885			62,563			70,710			85,609			93,134			(7,678	)		(12.3	)		(38,249	)		(41.1	)
Outside data processing and other services		17,527			17,563			18,462			15,957			17,478			(36	)		(0.2	)		49			0.3
Equipment		15,295			16,228			16,086			16,840			16,328			(933	)		(5.7	)		(1,033	)		(6.3	)
Net occupancy		16,838			16,258			16,763			14,925			15,570			580			3.6			1,268			8.1
Professional services		12,219			7,836			7,299			12,175			11,116			4,383			55.9			1,103			9.9
Marketing		5,000			8,069			7,839			6,895			5,515			(3,069	)		(38.0	)		(515	)		(9.3	)
Telecommunications		5,359			4,638			5,194			5,272			5,612			721			15.5			(253	)		(4.5	)
Printing and supplies		3,201			3,098			3,016			3,417			3,658			103			3.3			(457	)		(12.5	)
Amortization of intangibles		204			204			204			204			204			—			—			—			—
Loss on early extinguishment of debt		—			—			—			15,250			—			—			—			—			—
Restructuring reserve releases		(1,151	)		—			—			(351	)		—			(1,151	)		—			(1,151	)		—
Other		22,317			25,981			18,457			25,510			18,397			(3,664	)		(14.1	)		3,920			21.3
Total Non-Interest Expense		273,423			282,153			285,654			317,465			300,182			(8,730	)		(3.1	)		(26,759	)		(8.9	)
Income Before Income Taxes		131,741			153,511			139,074			127,019			141,442			(21,770	)		(14.2	)		(9,701	)		(6.9	)
Provision for income taxes		38,255			43,384			34,901			33,758			37,230			(5,129	)		(11.8	)		1,025			2.8
Income before cumulative effect of change in accounting principle		93,486			110,127			104,173			93,261			104,212			(16,641	)		(15.1	)		(10,726	)		(10.3	)
Cumulative effect of change in accounting principle, net of tax(1)		—			—			—			—			(13,330	)		—			—			13,330			N.M.
Net Income	$	93,486		$	110,127		$	104,173		$	93,261		$	90,882		$	(16,641	)		(15.1	)%	$	2,604			2.9	%
Average common shares - diluted		234,348			232,659			232,915			231,986			230,966			1,689			0.7	%		3,382			1.5	%
Per Common Share
Income before cumulative effect of change in accounting principle - Diluted	$	0.40		$	0.47		$	0.45		$	0.40		$	0.45		$	(0.07	)		(14.9	)%	$	(0.05	)		(11.1	)%
Net Income - Diluted		0.40			0.47			0.45			0.40			0.39			(0.07	)		(14.9	)		0.01			2.6
Cash Dividends Declared		0.200			0.175			0.175			0.175			0.175			0.025			14.3			0.025			14.3
Return on:
Average total assets (2)		1.18	%		1.41	%		1.36	%		1.22	%		1.38	%		(0.23	)%		(16.4	)		(0.20	)%		(14.6	)
Average total shareholders’ equity (2)		15.4			19.1			18.4			16.6			18.5			(3.65	)		(19.1	)		(3.04	)		(16.5	)
Net interest margin (3)		3.30			3.29			3.36			3.42			3.46			0.01			0.3			(0.16	)		(4.6	)
Efficiency ratio (4)		66.3			62.3			65.1			67.1			60.0			4.05			6.5			6.31			10.5
Effective tax rate		29.0			28.3			25.1			26.6			26.3			0.78			2.7			2.72			10.3
Revenue - Fully Taxable Equivalent (FTE)
Net Interest Income	$	227,058		$	222,563		$	222,685		$	224,315		$	220,471		$	4,495			2.0		$	6,587			3.0
FTE Adjustment (3)		2,864			2,919			3,023			2,954			2,558			(55	)		(1.9	)		306			12.0
Net Interest Income		229,922			225,482			225,708			227,269			223,029			4,440			2.0			6,893			3.1
Non-Interest Income		189,891			218,128			227,639			246,510			272,768			(28,237	)		(12.9	)		(82,877	)		(30.4	)
Total Revenue	$	419,813		$	443,610		$	453,347		$	473,779		$	495,797		$	(23,797	)		(5.4	)%	$	(75,984	)		(15.3	)%

N.M. - Not Meaningful.

(1)	Due to the adoption of FASB Interpretation No. 46 for variable interest entities.
(2)	Based on income before cumulative effect of change in accounting principle, net of tax.
(3)	On a fully taxable equivalent (FTE) basis assuming a 35% tax rate.
(4)	Non-interest expense less amortization of intangibles divided by the sum of FTE net interest income and non-interest income excluding securities gains (losses).

5

Huntington Bancshares Incorporated
Quarterly Credit Reserves and Net Charge-off Analysis
(Unaudited)

	2004									2003
(in thousands)	Third			Second			First			Fourth			Third
Allowance for Loan and Leases Losses, Beginning of Period	$	286,935		$	295,377		$	299,732		$	336,398		$	307,667
Loan and lease losses		(26,366	)		(30,845	)		(37,167	)		(68,023	)		(43,261	)
Recoveries of loans previously charged off		9,886			18,330			8,540			12,880			10,487
Net loan and lease losses		(16,480	)		(12,515	)		(28,627	)		(55,143	)		(32,774	)
Provision for credit losses		11,785			5,027			25,596			26,341			51,615
Net change in allowance for unfunded loan commitments and letters of credit		1,186			896			3,433			(1,785	)		(457	)
Allowance of assets sold and securitized (1)		(776	)		(1,850	)		(4,757	)		(6,079	)		10,347
Allowance for Loan and Lease Losses, End of Period	$	282,650		$	286,935		$	295,377		$	299,732		$	336,398
Allowance for Unfunded Loan Commitments and Letters of Credit, Beginning of Period	$	31,193		$	32,089		$	35,522		$	33,737		$	33,280
Net change		(1,186	)		(896	)		(3,433	)		1,785			457
Allowance for Unfunded Loan Commitments and Letters of Credit, End of Period	$	30,007		$	31,193		$	32,089		$	35,522		$	33,737
Total Allowances for Credit Losses	$	312,657		$	318,128		$	327,466		$	335,254		$	370,135
Allowance for loan and lease losses as a % of:
Transaction reserve		0.84	%		0.86	%		0.91	%		0.88	%		0.98	%
Economic reserve		0.33			0.36			0.38			0.40			0.47
Specific reserve		0.08			0.10			0.10			0.14			0.14
Total Loans and Leases		1.25	%		1.32	%		1.39	%		1.42	%		1.59	%
Non-performing loans and leases		417			464			383			397			276
Non-performing assets		351			384			322			343			245
Allowance for loan and lease losses plus allowance for unfunded loan commitments and letters of credit as a % of:
Total loans and leases		1.38	%		1.46	%		1.55	%		1.59	%		1.75	%
Non-performing loans and leases		461			515			425			444			304
Non-performing assets		389			426			357			384			270
Net Charge-offs by Loan and Lease Type
Commercial and industrial	$	972		$	(2,803	)	$	5,956		$	31,186		$	12,222
Commercial real estate		1,592			2,940			1,637			5,743			3,621
Total commercial		2,564			137			7,593			36,929			15,843
Consumer
Automobile loans		5,142			5,604			13,422			11,346			10,773
Automobile leases		2,415			2,159			3,159			1,936			1,450
Automobile loans and leases		7,557			7,763			16,581			13,282			12,223
Home equity		4,527			3,019			3,116			3,464			3,416
Residential mortgage		534			302			316			174			246
Other loans		1,298			1,294			1,021			1,294			1,046
Total consumer		13,916			12,378			21,034			18,214			16,931
Total Net Charge-offs	$	16,480		$	12,515		$	28,627		$	55,143		$	32,774
Net Charge-offs - Annualized Percentages
Commercial and industrial		0.07	%		(0.20	)%		0.44	%		2.32	%		0.91	%
Commercial real estate		0.14			0.28			0.16			0.56			0.36
Total commercial		0.10			0.01			0.32			1.55			0.68
Consumer
Automobile loans		1.11			0.96			1.77			1.29			1.20
Automobile leases		0.43			0.40			0.64			0.43			0.36
Automobile loans and leases		0.74			0.69			1.32			1.00			0.94
Home equity		0.46			0.32			0.34			0.39			0.40
Residential mortgage		0.05			0.04			0.04			0.03			0.05
Other loans		1.28			1.38			1.11			1.34			1.10
Total consumer		0.45			0.41			0.70			0.61			0.61
Net Charge-offs as a % of Average Loans		0.30	%		0.23	%		0.53	%		1.03	%		0.64	%

⁽¹⁾ The third quarter 2003 includes the reserve for loan losses associated with automobile loans contained in one of Huntington’s securitization trusts consolidated as a result of the adoption of FASB Interpretation No. 46 on July 1, 2003.

6

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

	September 30,			June 30,			March 31,			December 31,			September 30,
(in thousands)	2004			2004			2004			2003			2003
Non-accrual loans and leases:
Commercial and industrial	$	27,140		$	32,044		$	45,056		$	43,387		$	82,413
Commercial real estate		19,762			15,782			20,019			22,399			30,545
Residential mortgage		13,197			13,952			12,052			9,695			8,923
Home equity (1)		7,685			—			—			—			—
Total Non-Performing Loans and Leases		67,784			61,778			77,127			75,481			121,881
Other real estate, net		12,692			12,918			14,567			11,905			15,196
Total Non-Performing Assets	$	80,476		$	74,696		$	91,694		$	87,386		$	137,077
Non-performing loans and leases as a % of total loans and leases		0.30	%		0.28	%		0.36	%		0.36	%		0.58	%
Non-performing assets as a % of total loans and leases and other real estate		0.36			0.34			0.43			0.41			0.65
Accruing loans and leases past due 90 days or more (1)	$	53,456		$	51,490		$	59,697		$	55,913		$	66,060
Accruing loans and leases past due 90 days or more as a percent of total loans and leases		0.24	%		0.24	%		0.28	%		0.27	%		0.31	%

	Three Months Ended
	September 30,			June 30,			March 31,			December 31,			September 30,
(in thousands)	2004			2004			2004			2003			2003
Non-Performing Assets, Beginning of Period	$	74,696		$	91,694		$	87,386		$	137,077		$	133,722
New non-performing assets (1)		22,740			25,727			27,208			38,367			52,213
Returns to accruing status		—			(1,493	)		(54	)		(454	)		(319	)
Loan and lease losses		(5,424	)		(12,872	)		(10,463	)		(39,657	)		(22,090	)
Payments		(10,202	)		(13,571	)		(10,717	)		(22,710	)		(18,905	)
Sales		(1,334	)		(14,789	)		(1,666	)		(25,237	)		(7,544	)
Non-Performing Assets, End of Period	$	80,476		$	74,696		$	91,694		$	87,386		$	137,077

⁽¹⁾ Includes $7.7 million of nonperforming loans secured by residential real estate. As of September 30, 2004, the Company adopted a policy, consistent with its policy for residential mortgage loans, of placing home equity loans and lines on nonaccrual status when they become greater than 180 days past due. In prior quarters, these balances were included in “Accruing loans and leases past due 90 days or more.”

7

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

Quarterly Common Stock Summary

	2004						2003
	Third		Second		First		Fourth		Third
Common Stock Price
High(1)	$	25.150	$	23.120	$	23.780	$	22.550	$	20.890
Low(1)		22.700		20.890		21.000		19.850		19.220
Close		24.910		22.980		22.030		22.500		19.850
Average Closing Price		24.105		22.050		22.501		21.584		20.199
Dividends
Cash dividends declared on common stock	$	0.200	$	0.175	$	0.175	$	0.175	$	0.175
Common shares outstanding (000s)
Average — Basic		229,848		229,429		229,227		228,902		228,715
Average — Diluted		234,348		232,659		232,915		231,986		230,966
Ending		230,153		229,476		229,410		229,008		228,870
Book value per share	$	10.69	$	10.40	$	10.31	$	9.93	$	9.79
Common Share Repurchase Program (000s)
Number of Shares Repurchased		—		—		—		—		—

Capital Data - End of Period

	2004									2003
(in millions)	Third			Second			First			Fourth			Third
Total Risk-Adjusted Assets(2)	$	28,773		$	28,413		$	28,236		$	28,164		$	27,949
Tier 1 Risk-Based Capital Ratio(2)		9.07	%		8.98	%		8.74	%		8.53	%		8.40	%
Total Risk-Based Capital Ratio(2)		12.49			12.56			12.38			11.95			11.19
Tier 1 Leverage Ratio(2)		8.36			8.20			8.08			7.98			7.94
Tangible Equity / Asset Ratio		7.11			6.95			6.97			6.79			6.77
Tangible Equity / Risk-Weighted Assets Ratio(2)		7.80			7.64			7.61			7.30			7.24
Average Equity / Average Assets		7.66			7.42			7.39			7.32			7.49

Other Data - End of Period

	2004						2003
	Third		Second		First		Fourth		Third
Number of employees (full-time equivalent)		7,906		8,045		7,915		7,983		7,906
Number of domestic full-service banking offices(3)		341		341		337		338		337

(1)	High and low stock prices are intra-day quotes obtained from NASDAQ.
(2)	Third quarter 2004 figures are estimated.
(3)	Includes three Private Financial Group offices in Florida.

8

Huntington Bancshares Incorporated
Quarterly Operating Lease Performance
(Unaudited)

	2004									2003						3Q04 vs. 3Q03
(in thousands)	Third			Second			First			Fourth			Third			Amount			%
Balance Sheet
Average operating lease assets outstanding	$	800,145		$	976,626		$	1,166,146		$	1,355,330		$	1,565,167		$	(765,022	)		(48.9	)
Income Statement
Net rental income	$	60,267		$	72,402		$	83,517		$	98,223		$	109,645		$	(49,378	)		(45.0	)
Fees		2,965			4,838			3,543			5,204			5,372			(2,407	)		(44.8	)
Recoveries - early terminations		1,180			1,466			1,807			1,880			2,607			(1,427	)		(54.7	)
Total Operating Lease Income		64,412			78,706			88,867			105,307			117,624			(53,212	)		(45.2	)
Depreciation and residual losses at termination		49,917			57,412			63,932			76,768			83,112			(33,195	)		(39.9	)
Losses - early terminations		4,968			5,151			6,778			8,841			10,022			(5,054	)		(50.4	)
Total Operating Lease Expense		54,885			62,563			70,710			85,609			93,134			(38,249	)		(41.1	)
Net Earnings Contribution	$	9,527		$	16,143		$	18,157		$	19,698		$	24,490		$	(14,963	)		(61.1	)
Earnings ratios (1)
Net rental income		30.1	%		29.7	%		28.6	%		29.0	%		28.0	%		2.1	%		7.5	%
Depreciation and residual losses at termination		25.0			23.5			21.9			22.7			21.2			3.7			17.5

Definition of terms:

Net rental income includes the lease payments earned on the equipment and vehicles that Huntington leases to its customers under operating leases. Fees include late fees, early payment fees and other non-origination fees. Recoveries represent payments received on a cash basis subsequent to a customer’s default on an operating lease and a recognition of an impairment loss on the lease. Depreciation represents the periodic depreciation of equipment and vehicles to their residual value owned by Huntington under operating leases and any accelerated depreciation where Huntington expects to receive less than the residual value from the sale of the vehicle and from insurance proceeds at the end of the lease term. Losses represent impairments recognized on equipment and vehicles where the lessee has defaulted on the operating lease.

⁽¹⁾ As a percent of average operating lease assets, quarterly and year-to-date amounts annualized.

9

Huntington Bancshares Incorporated
Consolidated YTD Average Balance Sheets and Net Interest Margin Analysis
(Unaudited)

	YTD Average Balances												YTD Average Rates
(in millions)	Nine Months Ending Sept 30,						2004 vs. 2003						Nine Months Ending Sept 30
Fully Tax Equivalent Basis(1)	2004			2003			Amount			%			2004			2003
Assets
Interest bearing deposits in banks	$	67		$	58		$	9			15.5			0.88	%		1.53	%
Trading account securities		64			16			48			N.M.			4.17			4.41
Federal funds sold and securities purchased under resale agreements		193			76			117			N.M.			1.42			2.05
Loans held for sale		248			654			(406	)		(62.1	)		5.24			5.32
Securities:
Taxable		4,615			3,350			1,265			37.8			3.91			4.63
Tax exempt		415			304			111			36.5			7.00			7.09
Total Securities		5,030			3,654			1,376			37.7			4.17			4.83
Loans and Leases:(2)
Commercial and industrial		5,413			5,542			(129	)		(2.3	)		4.45			5.17
Real Estate
Construction		1,408			1,229			179			14.6			3.85			4.22
Commercial		2,891			2,644			247			9.3			4.67			5.31
Consumer
Automobile loans		2,410			3,170			(760	)		(24.0	)		7.20			7.56
Automobile leases		2,126			1,304			822			63.0			5.00			5.15
Automobile loans and leases		4,536			4,474			62			1.4			6.17			6.86
Home equity(3)		3,830			3,337			493			14.8			4.65			4.97
Residential mortgage(3)		3,361			1,958			1,403			71.7			5.36			5.64
Other loans(3)		384			383			1			0.3			6.30			7.92
Total Consumer		12,111			10,152			1,959			19.3			5.52			6.05
Total Loans and Leases		21,823			19,567			2,256			11.5			5.03			5.59
Allowance for loan and lease losses		(314	)		(350	)		36			(10.3	)
Net loans and leases		21,509			19,217			2,292			11.9
Total earning assets		27,425			24,025			3,400			14.2			4.84	%		5.45	%
Operating lease assets		980			1,812			(832	)		(45.9	)
Cash and due from banks		814			740			74			10.0
Intangible assets		216			218			(2	)		(0.9	)
All other assets		2,074			2,010			64			3.2
Total Assets	$	31,195		$	28,455		$	2,740			9.6
Liabilities and Shareholders’ Equity
Core deposits
Non-interest bearing deposits	$	3,172		$	3,063		$	109			3.6
Interest bearing demand deposits		7,055			6,100			955			15.7			0.96	%		1.28	%
Savings deposits		2,833			2,795			38			1.4			0.86			1.58
Retail certificates of deposit		2,404			2,773			(369	)		(13.3	)		3.35			3.72
Other domestic time deposits		611			670			(59	)		(8.8	)		3.30			3.91
Total core deposits		16,075			15,401			674			4.4			1.50			2.04
Domestic time deposits of $100,000 or more		823			793			30			3.8			2.31			2.54
Brokered time deposits and negotiable CDs		1,800			1,274			526			41.3			1.64			1.79
Foreign time deposits		522			492			30			6.1			0.77			0.98
Total deposits		19,220			17,960			1,260			7.0			1.53			2.01
Short-term borrowings		1,447			1,656			(209	)		(12.6	)		0.85			1.04
Federal Home Loan Bank advances		1,271			1,253			18			1.4			2.54			1.80
Subordinated notes and other long-term debt, including preferred capital securities		5,474			4,265			1,209			28.3			2.39			2.89
Total interest bearing liabilities		24,240			22,071			2,169			9.8			1.74	%		2.09	%
All other liabilities		1,445			1,137			308			27.1
Shareholders’ equity		2,338			2,184			154			7.1
Total Liabilities and Shareholders’ Equity	$	31,195		$	28,455		$	2,740			9.6
Net interest rate spread														3.10	%		3.36	%
Impact of non-interest bearing funds on margin														0.21			0.16
Net Interest Margin														3.31	%		3.52	%

(1)	Fully taxable equivalent (FTE) yields are calculated assuming a 35% tax rate. See page 11 for the FTE adjustment.
(2)	Loan and lease and deposit average rates include impact of applicable derivatives and non-deferrable fees.
(3)	Consumer loans that are secured by a first mortgage on residential property are presented as “residential mortgage loans.” Consumer loans that are secured by a junior mortgage on residential property are presented as “Home equity loans.” Reclassification of prior period balances have been made to conform with this presentation.

10

Huntington Bancshares Incorporated
Selected YTD Income Statement Data
(Unaudited)

	Nine Months Ended September 30,						2004 vs. 2003
(in thousands of dollars, except per share amounts)	2004			2003			Amount			%
Interest Income	$	988,100		$	970,659		$	17,441			1.8	%
Interest Expense		315,794			345,988			(30,194	)		(8.7	)
Net Interest Income		672,306			624,671			47,635			7.6
Provision for Credit Losses		42,408			137,652			(95,244	)		(69.2	)
Net Interest Income After Provision for Credit Losses		629,898			487,019			142,879			29.3
Operating lease income		231,985			384,391			(152,406	)		(39.6	)
Service charges on deposit accounts		129,368			123,077			6,291			5.1
Trust services		50,095			45,856			4,239			9.2
Brokerage and insurance income		41,920			43,500			(1,580	)		(3.6	)
Mortgage banking		23,474			48,503			(25,029	)		(51.6	)
Bank owned life insurance income		31,813			32,618			(805	)		(2.5	)
Gain on sales of automobile loans		14,206			23,751			(9,545	)		(40.2	)
Gain on sale of branch offices		—			13,112			(13,112	)		N.M.
Other service charges and fees		30,957			32,209			(1,252	)		(3.9	)
Securities gains		13,663			3,978			9,685			N.M.
Other		68,177			71,648			(3,471	)		(4.8	)
Total Non-Interest Income		635,658			822,643			(186,985	)		(22.7	)
Personnel costs		363,068			331,501			31,567			9.5
Operating lease expense		188,158			307,661			(119,503	)		(38.8	)
Outside data processing and other services		53,552			50,161			3,391			6.8
Equipment		47,609			49,081			(1,472	)		(3.0	)
Net occupancy		49,859			47,556			2,303			4.8
Professional services		27,354			30,273			(2,919	)		(9.6	)
Marketing		20,908			20,595			313			1.5
Telecommunications		15,191			16,707			(1,516	)		(9.1	)
Printing and supplies		9,315			9,592			(277	)		(2.9	)
Amortization of intangibles		612			612			—			—
Loss on early extinguishment of debt		—			—			—			—
Restructuring reserve releases		(1,151	)		(6,315	)		5,164			(81.8	)
Other		66,755			55,270			11,485			20.8
Total Non-Interest Expense		841,230			912,694			(71,464	)		(7.8	)
Income Before Income Taxes		424,326			396,968			27,358			6.9
Provision for income taxes		116,540			104,536			12,004			11.5
Income before cumulative effect of change in accounting principle		307,786			292,432			15,354			5.3
Cumulative effect of change in accounting principle, net of tax(3)		—			(13,330	)		13,330			N.M.
Net Income	$	307,786		$	279,102		$	28,684			10.3	%
Per Common Share
Income before cumulative effect of change in accounting principle - Diluted	$	1.32		$	1.26		$	0.06			4.8	%
Net Income - Diluted		1.32			1.21			0.11			9.1
Cash Dividends Declared		0.550			0.495			0.055			11.1
Return on:
Average total assets(4)		1.32	%		1.37	%		(0.06	)%		(4.1	)%
Average total shareholders’ equity(4)		17.6			17.9			(0.32	)		(1.8	)
Net interest margin(1)		3.31			3.52			(0.21	)		(6.0	)
Efficiency ratio(2)		64.5			62.9			1.61			2.6
Effective tax rate		27.5			26.3			1.13			4.3
Revenue - Fully Taxable Equivalent (FTE)
Net Interest Income	$	672,306		$	624,671		$	47,635			7.6	%
FTE Adjustment(1)		8,806			6,730			2,076			30.8
Net Interest Income		681,112			631,401			49,711			7.9
Non-Interest Income		635,658			822,643			(186,985	)		(22.7	)
Total Revenue	$	1,316,770		$	1,454,044		$	(137,274	)		(9.4	)%

N.M. - Not Meaningful

(1)	On a fully taxable equivalent (FTE) basis assuming a 35% tax rate.
(2)	Non-interest expense less amortization of intangibles divided by the sum of FTE net interest income and non-interest income excluding securities gains.
(3)	Due to the adoption of FASB Interpretation No. 46 for variable interest entities.
(4)	Based on income before cumulative effect of change in accounting principal, net of tax.

11

Huntington Bancshares Incorporated
YTD Credit Reserves and Net Charge-off Analysis
(Unaudited)

	Nine Months Ended Sept 30,
(in thousands)	2004			2003
Allowance for Loan and Leases Losses, Beginning of Period	$	299,732		$	324,827
Loan and lease losses		(94,378	)		(133,511	)
Recoveries of loans previously charged off		36,756			26,845
Net loan and lease losses		(57,622	)		(106,666	)
Provision for credit losses		42,408			137,652
Net change in allowance for unfunded loan commitments and letters of credit		5,515			(21,916	)
Allowance of assets sold and securitized		(7,383	)		2,501
Allowance for Loan and Lease Losses, End of Period	$	282,650		$	336,398
Allowance for Unfunded Loan Commitments and Letters of Credit, Beginning of Period	$	35,522		$	11,821
Net change		(5,515	)		21,916
Allowance for Unfunded Loan Commitments and Letters of Credit, End of Period	$	30,007		$	33,737
Total Allowance for Credit Losses	$	312,657		$	370,135
Net Charge-offs by Loan and Lease Type
Commercial and industrial	$	4,125		$	53,672
Commercial real estate		6,169			4,774
Total commercial		10,294			58,446
Consumer
Automobile loans		24,168			28,920
Automobile leases		7,733			3,792
Automobile loans and leases		31,901			32,712
Home equity		10,662			11,140
Residential mortgage		1,152			658
Other loans		3,613			3,710
Total consumer		47,328			48,220
Total Net Charge-offs	$	57,622		$	106,666
Net Charge-offs - Annualized Percentages
Commercial and industrial		0.10	%		1.29	%
Commercial real estate		0.19			0.16
Total commercial		0.14			0.83
Consumer
Automobile loans		1.34			1.22
Automobile leases		0.48			0.39
Automobile loans and leases		0.94			0.97
Home equity		0.37			0.45
Residential mortgage		0.05			0.04
Other loans		1.25			1.29
Total consumer		0.52			0.63
Net Charge-offs as a % of Average Loans		0.35	%		0.73	%

12

Huntington Bancshares Incorporated
YTD Operating Lease Performance
(Unaudited)

	Nine Months Ended Sept 30,						2004 vs. 2003
(in thousands)	2004			2003			Amount			%
Balance Sheet:
Average operating lease assets outstanding	$	980,312		$	1,811,519		$	(831,207	)		(45.9	)%
Income Statement:
Net rental income	$	216,186		$	360,421		$	(144,235	)		(40.0	)
Fees		11,346			16,419			(5,073	)		(30.9	)
Recoveries - early terminations		4,453			7,551			(3,098	)		(41.0	)
Total Operating Lease Income		231,985			384,391			(152,406	)		(39.6	)
Depreciation and residual losses at termination		171,261			273,782			(102,521	)		(37.4	)
Losses - early terminations		16,897			33,879			(16,982	)		(50.1	)
Total Operating Lease Expense		188,158			307,661			(119,503	)		(38.8	)
Net Earnings Contribution	$	43,827		$	76,730		$	(32,903	)		(42.9	)%
Earnings ratios(1)
Net rental income		29.4	%		26.5	%		2.9	%		10.8	%
Depreciation and residual losses at termination		23.3			20.2			3.1			15.6

Definition of terms:

Net rental income includes the lease payments earned on the equipment and vehicles that Huntington leases to its customers under operating leases. Fees include late fees, early payment fees and other non-origination fees. Recoveries represent payments received on a cash basis subsequent to a customer’s default on an operating lease and a recognition of an impairment loss on the lease. Depreciation represents the periodic depreciation of equipment and vehicles to their residual value owned by Huntington under operating leases and any accelerated depreciation where Huntington expects to receive less than the residual value from the sale of the vehicle and from insurance proceeds at the end of the lease term. Losses represent impairments recognized on equipment and vehicles where the lessee has defaulted on the operating lease.

⁽¹⁾ As a percent of average operating lease assets, quarterly and year-to-date amounts annualized.

13