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) July 20, 2005

HUNTINGTON BANCSHARES INCORPORATED

(Exact name of registrant as specified in its charter)

Maryland	0-2525	31-0724920
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	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 (see General Instruction A.2. below):

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))

TABLE OF CONTENTS

EX-99.1

EX-99.2

Item 2.02. Results of Operations and Financial Condition.

     On July 20, 2005, Huntington Bancshares Incorporated (“Huntington”) issued a news release announcing its earnings for the quarter ended June 30, 2005. Also on July 20, 2005, 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 July 20, 2005, at 1:00 p.m. EST. The call may be accessed via a live Internet web cast at www.huntington-ir.com or through a dial-in telephone number at 866-253-6505. Slides will be available at www.huntington-ir.com just prior to 1:00 p.m. EST on July 20, 2005, for review during the call. A replay of the web cast will be archived in the Investor Relations section of Huntington’s web site at www.huntington-ir.com. A telephone replay will be available two hours after the completion of the call through July 31, 2005, at 888-266-2081; conference call ID 728190.

     The information contained or incorporated by reference in this Current Report on Form 8-K contains forward-looking statements, including certain plans, expectations, goals, and projections, which are subject to numerous assumptions, risks, and uncertainties. A number of factors, including but not limited to those set forth under the heading “Business Risks” included in Item 1 of Huntington’s Annual Report on Form 10-K for the year ended December 31, 2004, and other factors described from time to time in Huntington’s other filings with the Securities and Exchange Commission, could cause actual conditions, events, or results to differ significantly from those described in the forward-looking statements. All forward-looking statements included in this Current Report on Form 8-K are based on information available at the time of the Report. Huntington assumes no obligation to update any forward-looking statement.

     The information contained in the news release and the Quarterly Financial Review, are attached as Exhibits 99.1 and 99.2, respectively, and are being furnished under Item 2.02 of this Form 8-K.

Item 9.01. Financial Statements and Exhibits.

(c) The following exhibits are being furnished herewith:

Exhibit 99.1 – News release of Huntington Bancshares Incorporated, dated July 20, 2005.

Exhibit 99.2 – Quarterly Financial Review, June 2005.

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: July 20, 2005	By:	/s/ Donald R. Kimble
		Donald R. Kimble
		Chief Financial Officer and Controller

EXHIBIT INDEX

Exhibit No.	Description
Exhibit 99.1	News release of Huntington Bancshares Incorporated, July 20, 2005.
Exhibit 99.2	Quarterly Financial Review, June 2005.

EX-99.1

EXHIBIT 99.1

NEWS RELEASE

FOR IMMEDIATE RELEASE
July 20, 2005

Contacts:
Analysts		Media
Jay Gould	(614) 480-4060	Ron Newman	(614) 480-3077
Susan Stuart	(614) 480-3878

HUNTINGTON BANCSHARES REPORTS

2005 SECOND QUARTER RESULTS OF $0.45 PER COMMON SHARE;

PROVIDES 2005 EARNINGS PER SHARE GUIDANCE OF $1.78-$1.81

     COLUMBUS, Ohio – Huntington Bancshares Incorporated (NASDAQ: HBAN; www.huntington.com) reported 2005 second quarter earnings of $106.4 million, or $0.45 per common share. This compared with $110.1 million, or $0.47 per common share, in the year-ago quarter and $96.5 million, or $0.41 per common share, in the 2005 first quarter. Earnings for the first six months of 2005 were $202.9 million, or $0.86 per common share, compared with $214.3 million, or $0.92 per common share, in the comparable year-ago period.

     “We are pleased with our solid second quarter financial performance. Our earnings momentum gives us comfort that full-year 2005 earnings per share will be $1.78-$1.81,” said Thomas E. Hoaglin, chairman, president, and chief executive officer. “Operating leverage was good as the rate of revenue growth exceeded that of non-interest expense when both are adjusted for operating lease accounting and significant non-run rate items. Net interest income expanded, reflecting strong growth in loans and leases and a higher net interest margin. Also, as expected, a number of key fee income categories rebounded from the first quarter, and expenses and credit costs remained well controlled. Average consumer core deposits increased, but commercial core deposits declined as we took advantage of lower relative rates on national market deposits to meet our funding needs. While this quarter again reflected the benefit of a low effective tax rate, this had no net meaningful impact on earnings, as we incurred some non-run rate severance and consolidation expenses, and wrote-off an equity investment.”

     “Average loan and lease growth was strong across all regions. Middle market commercial and industrial loans increased at a 16% annualized growth rate, as we continue to grow our customer base and the economy in our region gradually improves,” he continued. “Annualized growth in residential mortgages of 16% led the increase in consumer loans. Both home equity loans and auto loans and leases grew at an annualized rate of 6%.”

     “Growth in both consumer and small business demand deposit relationships continued, thus

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confirming the progress we are making on improving our sales culture,” he said. “Nevertheless, we were disappointed that average core deposits declined slightly. This decline reflected very aggressive price competition, especially in money market rates. We allowed some commercial money market account balances to run-off as the cost of retaining these balances substantially exceeded national market rates for brokered deposits. Average total consumer core deposits increased an annualized 2% driven by growth in certificates of deposits. Overall, deposit growth has become more difficult and we expect it will remain so during the rest of this year.”

     “The expansion of our net interest margin was in line with expectations which, when coupled with the growth in earnings assets, resulted in a 3% linked-quarter increase in fully taxable equivalent net interest income. Our expectation is that the net interest margin will come under some pressure for the rest of the year and will likely decline from the current level because of aggressive price competition, the negative effects of the anticipated continued flattening of the yield curve, and the full impact of funding share repurchases. However, we anticipate continued linked-quarter growth in net interest income as any negative impact from margin pressure is expected to be more than offset by the positive impact of continued good loan growth.”

     “The linked-quarter growth in some of our key fee income categories was also encouraging,” he said. “As expected, service charges on deposit accounts increased 5% from the first quarter, and we saw growth in other service charges (up 11%), trust services (up 5%), and brokerage and insurance income (up 4%). This was the seventh consecutive linked-quarter increase in trust fees.”

     “Credit quality performance remained good,” he noted. “Annualized net charge-offs were only 27 basis points and in line with our expectations. Non-performing assets increased, in part reflecting weakness in the domestic automobile supplier sector, and represented 40 basis points of period-end total loans and leases and other real estate owned. The allowance for loan and lease losses ratio declined from the end of last quarter, with the majority of the decrease reflecting a methodology refinement that transferred a portion of this allowance to the allowance for unfunded loan commitments. The rest of the decline in the allowance for loan and lease losses reserve ratio primarily reflected improved economic indicators. Even with the decline in our allowance for loan and lease losses, our period end non-performing loan coverage ratio was a healthy 304%. Though our provision for credit losses was less than net charge-offs, this reflected overall credit quality improvement, as we always begin our provision calculation by giving full consideration for net charge-offs and loan growth.”

     “Capital at quarter end remained strong with our tangible common equity to assets ratio at 7.36%,” he concluded. “This was down from 7.42% at the end of the prior quarter reflecting the repurchase of 1.8 million common shares in the second quarter.”

     Highlights compared with 2005 first quarter included:

• 3% growth in net interest income reflecting the impact of loan growth and a higher net interest margin.

º	3% growth (10% annualized) in average total loans and leases reflecting 2% growth (9% annualized) in total consumer loans and 3% growth (11% annualized) in total commercial loans.
º	3.36% net interest margin, up from 3.31%.

• Growth in selected key non-interest income categories including service charges on

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     deposit accounts (5%), other service charges and fees (11%), trust services (5%), and brokerage and insurance income (4%).

• A slight decline in non-interest expense exclusive of the decline in operating lease expense.

• 0.27% annualized net charge-offs, compared with 0.47% in the prior quarter that included 24 basis points related to a single middle market commercial net charge-off.

• 0.40% period-end non-performing asset (NPA) ratio, up from 0.30%.

• 1.04% period-end allowance for loan and lease losses (ALLL) ratio, down from 1.09%, with 3 basis points of the decline reflecting a methodology refinement that transferred a portion of economic reserve component of the ALLL to the allowance for unfunded loan commitments (AULC).

• 304% period-end ALLL to non-performing loan (NPL) ratio, down from 441%.

• 7.36% period-end tangible common equity ratio, down from 7.42% reflecting the repurchase of 1.8 million common shares in June 2005.

     Significant items impacting 2005 second quarter performance included (see table below):

• $6.6 million after-tax ($0.03 earnings per share) positive impact reflecting the recognition of the effect of federal tax refunds on income tax expense. These federal tax refunds resulted from the ability to carry back federal tax losses to prior years.

• $4.0 million pre-tax ($0.01 earnings per share) negative impact of MSR temporary impairment net of hedge-related trading gains.

• $3.6 million pre-tax ($0.01 earnings per share) of severance and other expenses associated with the consolidation of certain operations functions, including the closing of an item-processing center in Michigan.

• $2.1 million pre-tax ($0.01 earnings per share) of expense reflecting the write-off of an equity investment.

Significant Items Impacting Earnings Performance Comparisons⁽¹⁾

Three Months Ended		Impact (2)
	(In millions, except per share)	Amount(3)			EPS
June 30, 2005 - GAAP earnings		$	106.4	(4)	$	0.45
•	Federal tax loss carry back		6.6	(4)		0.03
•	MSR temporary impairment net of hedge-related trading gains		(4.0	)		(0.01	)
•	Severance and consolidation expenses		(3.6	)		(0.01	)
•	Write-off of equity investment		(2.1	)		(0.01	)
March 31, 2005 - GAAP earnings		$	96.5	(4)	$	0.41
•	Federal tax loss carry back		6.4	(4)		0.03
•	Single C&I charge-off impact, net of allocated reserves		(6.4	)		(0.02	)

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Three Months Ended		Impact(2)
	(In millions, except per share)	Amount(3)			EPS
•	SEC and regulatory-related expenses		(2.0	)		(0.01	)
June 30, 2004 - GAAP earnings		$	110.1	(4)	$	0.47
•	Gain on sale of auto loans		4.9			0.01
•	Mortgage servicing right (MSR) temporary impairment recovery net of investment securities losses		1.2		—
•	Single C&I recovery		9.7			0.03

(1)	Includes significant items with $0.01 EPS impact or greater
(2)	Favorable (unfavorable) impact on GAAP earnings
(3)	Pre-tax unless otherwise noted
(4)	After-tax

Discussion of Performance

Net Interest Income, Net Interest Margin, Loans and Leases, and Investment Securities

     Fully taxable equivalent net interest income increased $19.4 million, or 9%, from the year-ago quarter, reflecting the favorable impact of a $1.7 billion, or 6%, increase in average earning assets, and a 7 basis point, or an effective 2%, increase in the net interest margin. The fully taxable equivalent net interest margin increased to 3.36% from 3.29% in the year-ago quarter. The increase in the net interest margin from the year-ago quarter reflected a shift from lower-yielding investments to higher-yielding loans as a result of decreasing the level of excess liquidity, redirecting part of the proceeds of securities sales to fund loan growth, and higher yields on mezzanine-related loans. In addition, both the proportion and the contribution of net free funds on the balance sheet increased.

     Average total loans and leases increased $2.7 billion, or 12%, from the 2004 second quarter, reflecting growth in consumer loans, and to a lesser degree, growth in commercial loans. Total average consumer loans increased $1.7 billion, or 15%, from the year-ago quarter primarily due to a $1.1 billion, or 37%, increase in average residential mortgages as mortgage loan rates remained near historically low levels. Average home equity loans increased $0.5 billion, or 13%, though annualized linked-quarter growth rates for the first two quarters of 2005 have been at rates roughly half that, at 6% and 7%, for the first and second quarters, respectively.

     Average total automobile loans decreased $0.3 billion, or 11%, from the year-ago quarter reflecting the sale of automobile loans over this 12-month period as part of a strategy of reducing automobile loan and lease exposure as a percent of total credit exposure. Partially offsetting the decline in automobile loans was growth in direct financing leases due to the continued migration from operating lease assets, which have not been originated since April 2002. Average direct financing leases increased $0.3 billion, or 15%, from the year-ago quarter. Total automobile loan and lease production was 22% below the year-ago quarter, reflecting continued aggressive competition in this sector.

     Average total commercial loans increased $1.0 billion, or 10%, from the year-ago quarter. This increase reflected a $0.4 billion, or 12%, increase in middle market commercial real estate (CRE) loans, a $0.3 billion, or 8%, increase in middle market commercial and industrial (C&I) loans, and a $0.2 billion, or 11%, increase in average small business C&I and CRE loans.

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     Average total investment securities declined $1.3 billion, or 24%, from the year-ago quarter. This decline reflected a combination of factors including lowering the level of excess liquidity, a decision to sell selected lower yielding securities, and partially funding loan growth with the proceeds from the sale of securities.

     Compared with the 2005 first quarter, fully taxable equivalent net interest income increased $6.8 million, or 3%, reflecting a 5 basis point, or an effective 2%, increase in the net interest margin to 3.36% from 3.31% in the 2005 first quarter, and a slight increase in average earning assets. The increase in the net interest margin from the first quarter reflected the reduction in excess liquidity positions, a mix change in our earning assets from investment securities to loans, and higher yields on mezzanine-related loans.

     Average total loans and leases increased $0.6 billion, or 3%, from the 2005 first quarter with growth in average commercial loans and consumer loans contributing equally to the increase.

     Total average commercial loans increased $0.3 billion, or 3%, from the first quarter primarily due to a $0.2 billion, or 4%, increase in average C&I loans. Average CRE loans increased 2%. As expected, this was a bit slower than in the prior quarter. The growth in C&I and CRE loans was more weighted toward loans to new, rather than existing customers. For commercial loans of $1 million or more made during the quarter, 61% represented loans to new borrowers with the dollar amount of growth led by the Central Ohio, Southern Ohio/Kentucky, Indiana, and East Michigan regions. On the same basis, those regions contributing most to the dollar amount of loan growth to existing customers were Northeast Ohio, Central Ohio, West Michigan, and East Michigan. Growth in average small business C&I and CRE loans was also 2% and was comparable to the growth rate in the 2005 first quarter.

     Compared with the 2005 first quarter, average total consumer loans increased $0.3 billion, or 2%, reflecting a $0.2 billion, or 4%, increase in residential mortgages and a $0.1 billion, or 1%, increase in average home equity loans. Growth rates in residential mortgages and home equity loans remained strong, though they have slowed in each of the last two linked quarters. Average automobile loans and leases increased $0.1 billion, or 2%, due to growth in automobile loans and, to a much lesser degree, growth in direct financing leases. This growth was in spite of a 2% decline in total automobile loan and lease production from the 2005 first quarter.

     Average investment securities declined $0.3 billion, or 8%, from the 2005 first quarter reflecting a combination of factors including the release of excess liquidity, the lack of attractive investment options due to the current flat yield curve environment, and a strategy of partially funding strong loan growth with proceeds from investment securities sales.

Deposits

     Average total core deposits in the 2005 second quarter were $17.0 billion, up $0.7 billion, or 5%, from the year-ago quarter, reflecting a $0.5 billion, or 7%, increase in average interest bearing demand deposit accounts, primarily money market accounts, a $0.3 billion, or 13%, increase in retail certificates of deposit, and a $0.1 billion, or 4%, increase in non-interest bearing deposits. These increases were partially offset by a $0.2 billion, or 6%, decline in savings and other domestic time deposits.

     Compared with the 2005 first quarter, average total core deposits declined slightly. Average interest bearing demand deposit accounts declined $0.2 billion, or 3%, from the prior quarter,

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which was mostly offset by a $0.2 billion, or 9%, increase in retail certificates of deposits. The decline in interest bearing demand deposits reflected aggressive money market deposit rate pricing, especially for commercial accounts, compared with lower relative pricing for national market brokered deposits. Therefore, commercial money market accounts declined in favor of growth in national market brokered deposits. Reflecting these factors, average total commercial core deposits declined 3% from the first quarter, with average brokered deposits and negotiable certificates of deposit increasing. Consumer core deposits pricing also reflected the impact of aggressive rate competition. Nevertheless, average total consumer core deposits increased slightly from the first quarter, reflecting growth in households, as well as consumer certificates of deposits commensurate with consumer preference for higher fixed-rate deposits.

Non-Interest Income

     Non-interest income decreased $62.0 million, or 28%, from the year-ago quarter with $40.6 million of the decline reflecting the run-off of the operating lease portfolio. Of the remaining $21.3 million decline from the year-ago quarter, the primary drivers were:

• $25.7 million decline in mortgage banking income, reflecting a $10.2 million MSR temporary impairment in the current quarter compared with a $14.9 million MSR temporary impairment recovery in the year-ago quarter. Also contributing to the decline from the year-ago quarter was lower net marketing income as delivery volume declined 24% between periods.

• $4.6 million decline in gains on sale of automobile loans as the year-ago period included $4.9 million of such gains.

• $2.1 million, or 5%, decline in service charges on deposit accounts with declines in commercial and consumer service charges contributing equally to the decrease. Lower commercial service charges reflected a combination of lower activity and a preference by commercial customers to pay for services with higher compensating balances rather than fees as interest rates increase. The decline in consumer service charges primarily reflected lower personal NSF and overdraft service charges.

• $1.2 million decline in bank owned life insurance income.

Partially offset by:

• $8.9 million decline in securities losses as the current quarter securities losses were less than such losses in the year-ago quarter. Specifically, the current quarter reflected $0.3 million of net securities losses resulting from sales to strengthen the quality of the investment portfolio and lengthen its duration. These sales resulted in total losses of $6.0 million and gains of $5.7 million. The gains were also taken to mitigate the net impact of the MSR impairment. The year-ago quarter reflected $9.2 million of MSR-related securities losses.

• $2.4 million, or 14%, increase in trust services due to higher personal trust and mutual fund fees reflecting a combination of higher market value of assets, as well as increased activity.

Compared with the 2005 first quarter, non-interest income decreased $11.9 million, or 7%,

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with $8.6 million of the decline reflecting the run-off of the operating lease portfolio. Of the remaining $3.2 million decline from the 2005 first quarter, the primary drivers were:

• $14.4 million decline in mortgage banking income reflecting a $10.2 million MSR temporary impairment in the current quarter compared with $3.8 million MSR temporary impairment recovery in the prior quarter. Though originations increased 17% from the first quarter, net marketing income nevertheless declined reflecting lower rates on sold loans.

• $1.3 million decline in securities gains as the current quarter reflected net securities losses of $0.3 million compared with $1.0 million of gains in the 2005 first quarter.

Partially offset by:

• $7.6 million increase in other income reflecting the positive benefit of $5.7 million of MSR hedge-related trading gains in the current quarter compared with $4.2 million of MSR hedge-related trading losses in the first quarter and modest hedge fund gains compared with losses in the prior quarter, partially offset by the current quarter negative impact of a $2.1 million write-off of an equity investment, as well as lower miscellaneous gains and safe deposit fee income.

• $2.1 million, or 5%, increase in service charges on deposit accounts reflecting higher personal NSF and overdraft service charges.

• $1.1 million, or 11%, increase in other service charges and fees reflecting higher check card-related income.

• $0.9 million, or 5%, increase in trust services income reflected a combination of factors including (1) higher personal trust and mutual fund fees due to a combination of the higher market value of assets and increased activity, (2) increased corporate trust income, and (3) client additions. The current quarter represented the seventh consecutive quarterly increase in trust income.

• $0.5 million, or 4%, increase in brokerage and insurance income reflecting growth in insurance agency income and sales of new automobile equity protection insurance, partially offset by a decline in investment product revenue, most notably mutual fund fees and brokerage commissions.

Non-Interest Expense

     Non-interest expense decreased $34.0 million, or 12%, from the year-ago quarter with $33.7 million of the decline reflecting the run-off of the operating lease portfolio. Of the remaining $0.3 million decline from the year-ago quarter, the primary drivers were:

• $6.9 million, or 27%, decline in other expense as the year-ago quarter included $5.8 million of costs related to investments in partnerships generating tax benefits, as well as higher operational losses.

Partially offset by:

• $4.4 million, or 4%, increase in personnel costs reflecting current period severance-related costs (see discussion below), as well as higher salaries.

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• $1.5 million, or 19%, increase in professional services expense as the current quarter included $1.7 million of regulatory-related expenses.

• $1.0 million, or 6%, increase in net occupancy expense primarily reflecting the negative impact of expenses associated with the consolidation of certain operations functions (see discussion below) and lower rental income, partially offset by lower maintenance costs.

     Compared with the 2005 first quarter, non-interest expense decreased $10.1 million with $9.1 million reflecting the run-off of the operating lease portfolio. Of the remaining $1.1 million decrease from the prior quarter, the primary drivers were:

• $2.0 million, or 10%, decrease in net occupancy reflecting a combination of positive factors including seasonally lower facility-related costs, higher rental income, partially offset by expenses associated with the consolidation of certain operations functions in the current period (see discussion below).

• $0.7 million, or 4%, decline in outside data processing and other services.

Partially offset by:

• $1.0 million, or 15%, increase in marketing expense.

Severance and Consolidation Expenses

     The 2005 second quarter results included $3.6 million of severance and other expenses associated with the consolidation of certain operations functions, including the closing of an item-processing center in Michigan, which influences comparisons with both the year-ago quarter, as well as prior quarter. These expenses included $2.0 in severance-related personnel costs, $0.8 million in net occupancy, $0.5 million in equipment expense, and $0.3 million in other expense.

Income Taxes

     The company’s effective tax rate was 22.3% in the 2005 second quarter, down from 28.3% in the year-ago quarter, but comparable to 22.8% in the 2005 first quarter. As noted last quarter, for 2005, the effective tax rate includes the positive impact on net income due to a federal tax loss carry back, tax exempt income, bank owned life insurance, asset securitization activities, and general business credits from investment in low income housing and historic property partnerships. In 2006, the effective tax rate is anticipated to increase to a more typical rate slightly below 30%.

Credit Quality

     Total net charge-offs for the 2005 second quarter were $16.3 million, or an annualized 0.27% of average total loans and leases. This was up from $12.5 million, or 0.23%, in the year-ago quarter, which included a $9.7 million one-time recovery on a previously charged-off commercial loan, but represented a decrease from $28.3 million, or an annualized 0.47%, of average total loans and leases in the 2005 first quarter. The prior quarter included a single $14.2 million middle market commercial charge-off related to a commercial leasing company with significant exposure to a service provider that declared bankruptcy. The 0.47% net charge-off

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ratio for average total loans and leases in the 2005 first quarter included 24 basis points related to this single credit.

     Total commercial net charge-offs in the second quarter were $5.6 million, or an annualized 0.21%, up from $0.1 million, or an annualized 0.01%, in the year-ago quarter as that quarter included the $9.7 million one-time recovery. Current period total commercial net charge-offs were down from $16.2 million, or an annualized 0.62%, in the prior quarter. As noted above, the 2005 first quarter included a $14.2 million middle market commercial charge-off, which represented 54 basis points of the 0.62% total commercial net charge-off ratio.

     Total consumer net charge-offs in the current quarter were $10.7 million, or an annualized 0.31% of related loans. This compared with $12.4 million, or 0.41%, in the year-ago quarter with the decline from the year-ago quarter primarily reflecting lower automobile loan and lease net charge-offs partially offset by higher home equity net charge-offs. Total automobile loan and lease net charge-offs in the 2005 second quarter were $3.8 million, or an annualized 0.33% of related loans and leases, down significantly from $7.8 million, or an annualized 0.69%, in the year-ago quarter. Home equity net charge-offs in the current quarter were $5.1 million, or an annualized 0.44% of related loans, up from $2.6 million, or 0.25%, in the year-ago quarter. Compared with the 2005 first quarter, total consumer net charge-offs decreased $1.4 million, primarily reflecting a $2.4 million decrease automobile loan and lease net charge-offs, partially offset by a $1.1 million increase in home equity loan net charge-offs.

     NPAs were $97.4 million at June 30, 2005, and represented 0.40% of related assets, up $22.7 million from $74.7 million, or 0.34%, at the end of the year-ago quarter and up $24.1 million from $73.3 million, or 0.30%, at March 31, 2005. The increase from the prior quarter was impacted, in part, by credits associated with the automobile supplier sector. Non-performing loans and leases (NPLs), which exclude OREO, were $83.9 million at June 30, 2005, up $22.1 million from the year-earlier period and $24.0 million from the end of the first quarter. Expressed as a percent of total loans and leases, NPLs were 0.34% at June 30, 2005, up from 0.28% a year earlier and from 0.25% at March 31, 2005.

     The over 90-day delinquent, but still accruing, ratio was 0.22% at June 30, 2005, down from 0.24% at the end of the year-ago quarter, and little changed from 0.21% at March 31, 2005.

Allowances for Credit Losses (ACL) and Loan Loss Provision

     Since the 2004 first quarter, the company maintains two reserves, both of which are available to absorb possible credit losses: the allowance for loan and lease losses (ALLL) and the allowance for unfunded loan commitments (AULC). When summed together, these reserves constitute the total allowances for credit losses (ACL).

     The June 30, 2005, ALLL was $254.8 million, down from $286.9 million a year earlier and $264.4 million at March 31, 2005. Expressed as a percent of period-end loans and leases, the ALLL ratio at June 30, 2005, was 1.04%, down from 1.32% a year ago reflecting the improvement in economic indicators, the change in the mix of the loan portfolio to lower-risk residential mortgages and home equity loans, and the reduction of specific reserves related to improved or resolved individual problem commercial credits. The decline from 1.09% at March 31, 2005, reflected a 4 basis point decrease in the transaction reserve component; 3 basis points related to the transfer of $6.3 million from the economic reserve component of the ALLL to the AULC due to a refinement in methodology; a 2 basis point decline in the economic reserve

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component as economic indicators strengthened; and a 4 basis point increase in the specific reserve component consistent with the current quarter’s increase in NPLs. The table below shows the change in the ALLL ratio and each reserve component from the 2004 second quarter and 2005 first quarter.

Components of ALLL as percent of total loans and leases:

										2Q05 change from
	2Q05			1Q05			2Q04			1Q05			2Q04
Transaction reserve		0.77	%		0.81	%		0.86	%		(0.04	)%		(0.09	)%
Economic reserve		0.22			0.27			0.36			(0.05	)		(0.14	)
Specific reserve		0.05			0.01			0.10			0.04			(0.05	)
Total ALLL		1.04	%		1.09	%		1.32	%		(0.05	)%		(0.28	)%

     The ALLL as a percent of NPAs was 262% at June 30, 2005, down from 384% a year ago, and 361% at March 31, 2005.

     At June 30, 2005, the AULC was $37.5 million, up from $31.2 million at the end of the year-ago quarter and from $31.6 million at March 31, 2005 reflecting the transfer of $6.3 million from the economic reserve component of the ALLL.

     On a combined basis, the ACL as a percent of total loans and leases was 1.19% at June 30, 2005, down from 1.46% a year earlier and 1.22% at the end of last quarter. The ACL as a percent of NPAs was 300% at June 30, 2005, down from 426% a year earlier and 404% at March 31, 2005.

     The provision for credit losses in the 2005 second quarter was $12.9 million, a $7.9 million increase from the year-ago quarter, but a $7.0 million decrease from the 2005 first quarter. The increase in provision expense from the year-ago quarter reflected the benefit in the year-ago quarter of a $9.7 million commercial loan recovery. The decline in provision expense from the 2005 first quarter primarily reflected the positive impact of lower net charge-offs and improved economic indicators, partially offset by an increase in specific reserves, as NPLs increased.

Capital

     At June 30, 2005, the tangible equity to assets ratio was 7.36%, up from 6.95% a year ago, but down from 7.42% at March 31, 2005. At June 30, 2005, the tangible equity to risk-weighted assets ratio was 8.04%, up from 7.64% at the end of the year-ago quarter, and from 7.84% at March 31, 2005. The increases in these ratios primarily reflect the positive impact of earnings growth, with the improvement in the risk-weighted ratio also reflecting the reduced overall risk profile of earning assets, most notably a less risky loan portfolio mix.

     In June 2005, the current 7.5 million share repurchase authorization was reactivated as previously announced, with 1.8 million shares repurchased before quarter end. Of the current share repurchase authorization, 5.7 million shares remain authorized for purchase. The company expects to repurchase remaining shares from time-to-time in the open market or through privately negotiated transactions depending on market conditions.

2005 Outlook

- 10 -

     When earnings guidance is given, it is the company’s practice to do so on a GAAP basis, unless otherwise noted. Such guidance includes the expected results of all significant forecasted activities. However, guidance typically excludes unusual or one-time items, as well as selected items where the timing and financial impact is uncertain, until such time as the impact can be reasonably forecasted.

     “Given the underlying trends of the current quarter we are providing full-year earnings per share guidance of $1.78-$1.81,” Hoaglin said. “As we look out into the second half of the year, we anticipate continuing to see good operating leverage with the growth rate in underlying revenue exceeding that of expenses. Specifically, net interest income is expected to increase reflecting continued good loan growth, which will more than offset the negative impact of any pressure on the net interest margin from a continued highly competitive deposit pricing environment, anticipated further yield curve flattening, as well as the full impact of funding costs associated with the shares we repurchased in the second quarter. The aggressive competition for deposits is expected to keep growth in core deposits low. Growth in selected fee income categories from second quarter levels is expected, including service charges on deposit accounts. Non-interest expenses should be flat with the second quarter level exclusive of operating lease expenses. Credit quality is expected to remain strong with full-year net charge-offs in the 32-36 basis point range, with the non-performing assets and allowance for loan loss ratios consistent with June 30, 2005, levels.”

     The company noted that this guidance excludes any impact of future share repurchases. In addition, in 2005 the company has departed slightly from providing this guidance on a strictly GAAP basis solely to exclude the estimated $0.06 per common share benefit for the second half of the year related to any future benefit from the federal tax loss carry back discussed above. This is excluded as it impacts only 2005 performance, and because offsetting impacts may occur later in the year from possible balance sheet restructurings and/or expense initiatives currently under review.

Conference Call / Webcast Information

     Huntington’s senior management will host an earnings conference call today at 1:00 p.m. (Eastern Time). The call may be accessed via a live Internet webcast at huntington-ir.com or through a dial-in telephone number at 866-253-6505. Slides will be available at huntington-ir.com just prior to 1:00 p.m. (Eastern Time) today for review during the call. A replay of the webcast will be archived in the Investor Relations section of Huntington’s web site huntington-ir.com. A telephone replay will be available approximately two hours after the completion of the call through July 31, 2005 at 888-266-2081; conference ID 728190.

Forward-looking Statement

     This press release contains certain forward-looking statements, including certain plans, expectations, goals, and projections, which are subject to numerous assumptions, risks, and uncertainties. A number of factors, including but not limited to those set forth under the heading “Business Risks” included in Item 1 of Huntington’s Annual Report on Form 10-K for the year ended December 31, 2004, and other factors described from time to time in Huntington’s other filings with the Securities and Exchange Commission, could cause actual conditions, events, or results to differ significantly from those described in the forward-looking statements. All forward-looking statements included in this news 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 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

- 11 -

comparable GAAP financial measure, can be found in the Quarterly Financial Review supplement to this earnings release, which can be found on Huntington’s website at huntington-ir.com.

Annualized data

     Certain returns, yields, performance ratios, or quarterly growth rates are “annualized” in this presentation to represent an annual time period. 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 growth rates 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 earnings 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 and/or one-time 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 and/or one-time 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 separately disclosed, with this then being the amount used to calculate the earnings per share equivalent.

NM or nm

     Percent changes of 100% or more are shown as “nm” or “not meaningful”. Such large percent changes typically reflect the impact of one-time items within the measured periods. Since the primary purpose of showing a percent change is for discerning underlying performance trends, such large percent changes are “not meaningful” for this purpose.

About Huntington

     Huntington Bancshares Incorporated is a $33 billion regional bank holding company headquartered in Columbus, Ohio. Through its affiliated companies, Huntington has more than 139 years of serving the financial needs of its customers. Huntington provides innovative retail and commercial financial products and services through more than 300 regional banking offices in Indiana, Kentucky, Michigan, Ohio, and West Virginia. Huntington also offers retail and commercial financial services online at huntington.com; through its technologically advanced, 24-hour telephone bank; and through its network of approximately 800 ATMs. Selected financial service activities are also conducted in other states including: Dealer Sales offices in Florida, Georgia, Tennessee, Pennsylvania, and Arizona; Private Financial and Capital Markets Group offices in Florida; and Mortgage Banking offices in Florida, Maryland, and New Jersey. International banking services are made available through the headquarters office in Columbus and an office located in the Cayman Islands and an office located in Hong Kong.

###

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HUNTINGTON BANCSHARES INCORPORATED
Quarterly Key Statistics
(Unaudited)

	2005						2004			Percent Change
(in thousands of dollars, except per share amounts)	Second			First			Second			1Q05			2Q04
Net interest income	$	241,900		$	235,198		$	222,563			2.8	%		8.7	%
Provision for credit losses		12,895			19,874			5,027			(35.1	)		N.M.
Non-interest income		156,170			168,050			218,128			(7.1	)		(28.4	)
Non-interest expense		248,136			258,277			282,153			(3.9	)		(12.1	)
Income before income taxes		137,039			125,097			153,511			9.5			(10.7	)
Provision for income taxes		30,614			28,578			43,384			7.1			(29.4	)
Net Income	$	106,425		$	96,519		$	110,127			10.3	%		(3.4	)%
Net income per common share - diluted	$	0.45		$	0.41		$	0.47			9.8	%		(4.3	)%
Cash dividends declared per common share		0.215			0.200			0.175			7.5			22.9
Book value per common share at end of period		11.40			11.15			10.40			2.2			9.6
Average common shares - basic		232,217			231,824			229,429			0.2			1.2
Average common shares - diluted		235,671			235,053			232,659			0.3			1.3
Return on average assets		1.31	%		1.20	%		1.41	%
Return on average shareholders’ equity		16.3			15.5			19.1
Net interest margin (1)		3.36			3.31			3.29
Efficiency ratio (2)		61.8			63.7			62.3
Effective tax rate		22.3			22.8			28.3
Average loans and leases	$	24,457,747		$	23,856,482		$	21,767,492			2.5	%		12.4	%
Average loans and leases - linked quarter annualized growth rate.		10.1	%		14.3	%		4.9	%
Average earning assets	$	29,248,535		$	29,128,027		$	27,556,828			0.4			6.1
Average core deposits (3)		16,979,208			17,043,436			16,230,324			(0.4	)		4.6
Average core deposits - linked quarter annualized growth rate (3)		(1.5	)%		3.2	%		19.4	%
Average total assets	$	32,619,845		$	32,581,040		$	31,313,357			0.1			4.2
Average shareholders’ equity		2,618,579			2,527,168			2,323,437			3.6			12.7
Total assets at end of period	$	32,988,974		$	32,182,599		$	31,421,206			2.5			5.0
Total shareholders’ equity at end of period		2,630,775			2,589,773			2,386,369			1.6			10.2
Net charge-offs (NCOs)	$	16,264		$	28,272		$	12,515			(42.5	)		30.0
NCOs as a % of average loans and leases		0.27	%		0.47	%		0.23	%
Non-performing loans and leases (NPLs)	$	83,860		$	59,893		$	61,778			40.0			35.7
Non-performing assets (NPAs)		97,418			73,303			74,696			32.9			30.4
NPAs as a % of total loans and leases and other real estate (OREO)		0.40	%		0.30	%		0.34	%
Allowance for loan and lease losses (ALLL) as a % of total loans and leases at the end of period		1.04			1.09			1.32
ALLL plus allowance for unfunded loan commitments and letters of credit as a % of total loans and leases at the end of period		1.19			1.22			1.46
ALLL as a % of NPLs		304			441			464
ALLL as a % of NPAs		262			361			384
Tier 1 risk-based capital ratio (4)		9.20			9.04			8.98
Total risk-based capital ratio (4)		12.41			12.33			12.56
Tier 1 leverage ratio (4)		8.52			8.45			8.20
Average equity / assets		8.03			7.76			7.42
Tangible equity / assets (5)		7.36			7.42			6.95

N.M., not a meaningful value.
(1)	On a fully taxable equivalent (FTE) basis assuming a 35% tax rate.
(2)		Non-interest expense less amortization of intangibles ($0.2 million for all periods above) divided by the sum of FTE net interest income and non-interest income excluding securities gains (losses).
(3)	Includes non-interest bearing and interest bearing demand deposits, savings and other domestic time deposits, and retail CDs.
(4)	Estimated at June 30, 2005.
(5)	At end of period. Tangible equity (total equity less intangible assets) divided by tangible assets (total assets less intangible assets).

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HUNTINGTON BANCSHARES INCORPORATED
Year To Date Key Statistics
(Unaudited)

	Six Months Ended June 30,						Change
(in thousands of dollars, except per share amounts)	2005			2004			Amount			Percent
Net interest income	$	477,098		$	445,248		$	31,850			7.2	%
Provision for credit losses		32,769			30,623			2,146			7.0
Non-interest income		324,220			445,767			(121,547	)		(27.3	)
Non-interest expense		506,413			567,807			(61,394	)		(10.8	)
Income before income taxes		262,136			292,585			(30,449	)		(10.4	)
Provision for income taxes		59,192			78,285			(19,093	)		(24.4	)
Net Income	$	202,944		$	214,300		$	(11,356	)		(5.3	)%
Net Income per common share - diluted	$	0.86		$	0.92		$	(0.06	)		(6.5	)%
Cash dividends declared per common share		0.415			0.350			0.065			18.6
Average common shares - basic		232,021			229,328			2,693			1.2
Average common shares - diluted		235,362			232,787			2,575			1.1
Return on average assets		1.26	%		1.39	%
Return on average shareholders’ equity		15.9			18.7
Net interest margin (1)		3.34			3.32
Efficiency ratio (2)		62.7			63.7
Effective tax rate		22.6			26.8
Average loans and leases	$	24,158,775		$	21,634,941		$	2,523,834			11.7	%
Average earning assets		29,188,614			27,267,850			1,920,765			7.0
Average total assets		32,600,549			31,074,364			1,526,185			4.9
Average core deposits (3)		17,007,468			15,855,716			1,151,751			7.3
Average core deposits - excluding Retail CDs		14,398,790			13,455,769			943,021			7.0
Average shareholders’ equity		2,573,126			2,300,920			272,206			11.8
Net charge-offs (NCOs)		44,536			41,142			3,394			8.2
NCOs as a % of average loans and leases		0.37	%		0.38	%

(1)	On a fully taxable equivalent (FTE) basis assuming a 35% tax rate.
(2)	Non-interest expense less amortization of intangibles ($0.4 million for both periods above) divided by the sum of FTE net interest income and non-interest income excluding securities gains (losses).
(3)	Includes non-interest bearing and interest bearing demand deposits, savings and other domestic time deposits, and retail CDs.

-14-

EX-99.2

EXHIBIT 99.2

HUNTINGTON BANCSHARES INCORPORATED
Quarterly Financial Review
June 2005

Table of Contents

Consolidated Balance Sheets	1
Credit Exposure Composition	2
Deposit Composition	3
Consolidated Quarterly Average Balance Sheets	4
Consolidated Quarterly Net Interest Margin Analysis	5
Quarterly Average Loans and Direct Financing Leases And Deposit Composition By Business Segment	6
Selected Quarterly Income Statement Data	7
Quarterly Credit Reserves Analysis	8
Quarterly Net Charge-Off Analysis	9
Quarterly Non-Performing Assets and Past Due Loans and Leases	10
Quarterly Stock Summary, Capital, and Other Data	11
Quarterly Operating Lease Performance	12
Consolidated Year To Date Average Balance Sheets	13
Consolidated Year To Date Net Interest Margin Analysis	14
Selected Year To Date Income Statements	15
Year To Date Credit Reserves Analysis	16
Year To Date Net Charge-Off Analysis	17
Year To Date Operating Lease Performance	18

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

										Change
	2005			2004						June ’05 vs ’04
(in thousands of dollars, except per share amounts)	June 30,			December 31,			June 30,			Amount			Percent
	(Unaudited)						(Unaudited)
Assets
Cash and due from banks	$	976,432		$	877,320		$	1,162,995		$	(186,563	)		(16.0	)%
Federal funds sold and securities purchased under resale agreements		121,310			628,040			193,772			(72,462	)		(37.4	)
Interest bearing deposits in banks		22,758			22,398			24,009			(1,251	)		(5.2	)
Trading account securities		328,715			309,630			20,577			308,138			N.M.
Loans held for sale		395,053			223,469			314,262			80,791			25.7
Investment securities		3,849,955			4,238,945			4,991,439			(1,141,484	)		(22.9	)
Loans and leases (1)		24,567,148			23,560,277			21,775,669			2,791,479			12.8
Allowance for loan and lease losses		(254,784	)		(271,211	)		(286,935	)		32,151			(11.2	)
Net loans and leases		24,312,364			23,289,066			21,488,734			2,823,630			13.1
Operating lease assets		353,678			587,310			888,612			(534,934	)		(60.2	)
Bank owned life insurance		983,302			963,059			944,892			38,410			4.1
Premises and equipment		356,697			355,115			354,534			2,163			0.6
Goodwill and other intangible assets		217,576			215,807			216,215			1,361			0.6
Customers’ acceptance liability		7,509			11,299			6,613			896			13.5
Accrued income and other assets		1,063,625			844,039			814,552			249,073			30.6
Total Assets	$	32,988,974		$	32,565,497		$	31,421,206		$	1,567,768			5.0	%
Liabilities and Shareholders’ Equity
Liabilities
Deposits (2)	$	22,330,576		$	20,768,161		$	19,465,146		$	2,865,430			14.7	%
Short-term borrowings		1,266,535			1,207,233			1,130,830			135,705			12.0
Federal Home Loan Bank advances		903,864			1,271,088			1,270,455			(366,591	)		(28.9	)
Other long-term debt		3,034,154			4,016,004			4,557,373			(1,523,219	)		(33.4	)
Subordinated notes		1,046,283			1,039,793			1,011,506			34,777			3.4
Allowance for unfunded loan commitments and letters of credit		37,511			33,187			31,193			6,318			20.3
Bank acceptances outstanding		7,509			11,299			6,613			896			13.5
Deferred federal income tax liability		784,504			783,628			699,148			85,356			12.2
Accrued expenses and other liabilities		947,263			897,466			862,573			84,690			9.8
Total Liabilities		30,358,199			30,027,859			29,034,837			1,323,362			4.6
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 230,842,020; 231,605,281 and 229,475,821 shares, respectively.		2,487,981			2,484,204			2,482,069			5,912			0.2
Less 27,024,235; 26,260,974 and 28,390,434 treasury shares, respectively		(526,814	)		(499,259	)		(539,852	)		13,038			(2.4	)
Accumulated other comprehensive loss		(720	)		(10,903	)		(27,204	)		26,484			(97.4	)
Retained earnings		670,328			563,596			471,356			198,972			42.2
Total Shareholders’ Equity		2,630,775			2,537,638			2,386,369			244,406			10.2
Total Liabilities and Shareholders’ Equity	$	32,988,974		$	32,565,497		$	31,421,206		$	1,567,768			5.0	%

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
Credit Exposure Composition

													Change
	2005				2004								June ’05 vs ’04
(in thousands of dollars)	June 30,				December 31,				June 30,				Amount			Percent
	(Unaudited)								(Unaudited)
By Type
Commercial:
Middle market commercial and industrial	$	4,883,354	19.6	%	$	4,660,141	19.3	%	$	4,270,282	18.8	%	$	613,072			14.4	%
Construction		1,684,299	6.8			1,592,125	6.6			1,501,248	6.6			183,051			12.2
Commercial		1,899,518	7.6			1,881,835	7.8			1,959,684	8.6			(60,166	)		(3.1	)
Middle market commercial real estate		3,583,817	14.4			3,473,960	14.4			3,460,932	15.2			122,885			3.6
Small business commercial and industrial and commercial real estate		2,258,097	9.1			2,168,877	8.9			2,060,259	9.1			197,838			9.6
Total commercial		10,725,268	43.1			10,302,978	42.6			9,791,473	43.1			933,795			9.5
Consumer:
Automobile loans		2,045,771	8.2			1,948,667	8.1			1,814,644	8.0			231,127			12.7
Automobile leases		2,458,432	9.9			2,443,455	10.1			2,184,633	9.6			273,799			12.5
Home equity		4,683,577	18.8			4,554,540	18.9			4,255,576	18.8			428,001			10.1
Residential mortgage		4,152,203	16.7			3,829,234	15.9			3,283,779	14.5			868,424			26.4
Other loans		501,897	1.9			481,403	2.0			445,564	2.1			56,333			12.6
Total consumer		13,841,880	55.5			13,257,299	55.0			11,984,196	53.0			1,857,684			15.5
Total loans and direct financing leases	$	24,567,148	98.6		$	23,560,277	97.6		$	21,775,669	96.1		$	2,791,479			12.8
Operating lease assets		353,678	1.4			587,310	2.4			888,612	3.9			(534,934	)		(60.2	)
Total credit exposure	$	24,920,826	100.0	%	$	24,147,587	100.0	%	$	22,664,281	100.0	%	$	2,256,545			10.0	%
Total automobile exposure (1)	$	4,857,881	19.5	%	$	4,979,432	20.6	%	$	4,887,889	21.6	%	$	(30,008	)		(0.6	)%
By Business Segment (2)
Regional Banking:
Central Ohio (3)	$	6,593,763	26.5	%	$	6,293,471	26.1	%	$	5,663,749	25.0	%	$	930,014			16.4	%
Northern Ohio		2,916,456	11.7			2,857,746	11.8			2,696,268	11.9			220,188			8.2
Southern Ohio / Kentucky		2,105,173	8.4			1,895,180	7.8			1,758,808	7.8			346,365			19.7
West Michigan		2,386,443	9.6			2,271,682	9.4			2,216,170	9.8			170,273			7.7
East Michigan		1,495,978	6.0			1,430,169	5.9			1,359,098	6.0			136,880			10.1
West Virginia		918,620	3.7			882,016	3.7			812,929	3.6			105,691			13.0
Indiana		1,045,960	4.2			961,700	4.0			811,431	3.6			234,529			28.9
Regional Banking		17,462,393	70.1			16,591,964	68.7			15,318,453	67.7			2,143,940			14.0
Dealer Sales (4)		5,761,333	23.1			5,920,256	24.5			5,832,391	25.7			(71,058	)		(1.2	)
Private Financial and Capital Markets Group		1,697,100	6.8			1,635,367	6.8			1,513,437	6.6			183,663			12.1
Treasury / Other		—	—			—	—			—	—			—			—
Total credit exposure	$	24,920,826	100.0	%	$	24,147,587	100.0	%	$	22,664,281	100.0	%	$	2,256,545			10.0	%

N.M., not a meaningful value.
(1)	Sum of automobile loans and leases and operating lease assets.
(2)	Prior period amounts have been reclassified to conform to the current period business segment structure. Effective June 30, 2005, the Capital Markets Group was removed from Treasury / Other and combined with the Private Financial Group (PFG), prior period amounts have been reclassified.
(3)	Includes operating lease equipment.
(4)	Includes operating lease inventory and securitized loans.

2

Huntington Bancshares Incorporated
Deposit Composition

													Change
	2005				2004								June ’05 vs ’04
(in thousands of dollars)	June 30,				December 31,				June 30,				Amount			Percent
	(Unaudited)								(Unaudited)
By Type
Demand deposits - non-interest bearing	$	3,221,352	14.4	%	$	3,392,123	16.3	%	$	3,327,426	17.1	%	$	(106,074	)		(3.2	)%
Demand deposits - interest bearing		7,674,807	34.4			7,786,377	37.5			7,124,144	36.6			550,663			7.7
Savings and other domestic time deposits		3,332,728	14.9			3,502,552	16.9			3,605,778	18.5			(273,050	)		(7.6	)
Retail certificates of deposit		3,032,957	13.6			2,466,965	11.9			2,412,178	12.4			620,779			25.7
Total core deposits		17,261,844	77.3			17,148,017	82.6			16,469,526	84.6			792,318			4.8
Domestic time deposits of $100,000 or more		1,177,271	5.3			1,081,660	5.2			808,415	4.2			368,856			45.6
Brokered deposits and negotiable CDs		3,459,645	15.5			2,097,537	10.1			1,679,099	8.6			1,780,546			N.M.
Deposits in foreign offices		431,816	1.9			440,947	2.1			508,106	2.6			(76,290	)		(15.0	)
Total deposits	$	22,330,576	100.0	%	$	20,768,161	100.0	%	$	19,465,146	100.0	%	$	2,865,430			14.7	%
Total core deposits:
Commercial	$	5,399,412	31.3	%	$	5,293,666	30.9	%	$	5,080,250	30.8	%	$	319,162			6.3	%
Personal		11,862,432	68.7			11,854,351	69.1			11,389,276	69.2			473,156			4.2
Total core deposits	$	17,261,844	100.0	%	$	17,148,017	100.0	%	$	16,469,526	100.0	%	$	792,318			4.8	%
By Business Segment (1)
Regional Banking:
Central Ohio	$	4,830,088	21.6	%	$	4,695,464	22.6	%	$	4,619,437	23.7	%	$	210,651			4.6	%
Northern Ohio		3,964,220	17.8			4,068,385	19.6			3,771,145	19.4			193,075			5.1
Southern Ohio / Kentucky		1,823,532	8.2			1,742,353	8.4			1,557,288	8.0			266,244			17.1
West Michigan		2,599,452	11.6			2,643,510	12.7			2,598,397	13.3			1,055			0.0
East Michigan		2,241,112	10.0			2,222,191	10.7			2,078,967	10.7			162,145			7.8
West Virginia		1,412,290	6.3			1,375,151	6.6			1,368,951	7.0			43,339			3.2
Indiana		772,256	3.5			663,927	3.2			667,501	3.4			104,755			15.7
Regional Banking		17,642,950	79.0			17,410,981	83.8			16,661,686	85.5			981,264			5.9
Dealer Sales		68,470	0.3			74,969	0.4			70,595	0.4			(2,125	)		(3.0	)
Private Financial and Capital Markets Group		1,159,189	5.2			1,176,303	5.7			1,017,115	5.2			142,074			14.0
Treasury / Other (2)		3,459,967	15.5			2,105,908	10.1			1,715,750	8.9			1,744,217			N.M.
Total deposits	$	22,330,576	100.0	%	$	20,768,161	100.0	%	$	19,465,146	100.0	%	$	2,865,430			14.7	%

N.M., not a meaningful value.
(1)	Prior period amounts have been reclassified to conform to the current period business segment structure. Effective June 30, 2005, the Capital Markets Group was removed from Treasury / Other and combined with the Private Financial Group (PFG), prior period amounts have been reclassified.
(2)	Comprised largely of brokered deposits and negotiable CDs.

3

Huntington Bancshares Incorporated
Consolidated Quarterly Average Balance Sheets
(Unaudited)

	Average Balances															Change
Fully taxable equivalent basis	2005							2004								2Q05 vs 2Q04
(in millions of dollars)	Second			First			Fourth			Third			Second			Amount			Percent
Assets
Interest bearing deposits in banks	$	54		$	53		$	60		$	55		$	69		$	(15	)		(21.7	)%
Trading account securities		236			200			228			148			28			208			N.M.
Federal funds sold and securities purchased under resale agreements		225			475			695			318			168			57			33.9
Loans held for sale		276			203			229			283			254			22			8.7
Investment securities:
Taxable		3,589			3,932			3,858			4,340			4,861			(1,272	)		(26.2	)
Tax-exempt		411			409			404			398			410			1			0.2
Total investment securities		4,000			4,341			4,262			4,738			5,271			(1,271	)		(24.1	)
Loans and leases: (1)
Commercial:
Middle market commercial and industrial		4,901			4,710			4,503			4,298			4,555			346			7.6
Construction		1,678			1,642			1,577			1,514			1,272			406			31.9
Commercial		1,905			1,883			1,852			1,913			1,919			(14	)		(0.7	)
Middle market commercial real estate		3,583			3,525			3,429			3,427			3,191			392			12.3
Small business commercial and industrial and commercial real estate		2,230			2,183			2,136			2,081			2,018			212			10.5
Total commercial		10,714			10,418			10,068			9,806			9,764			950			9.7
Consumer:
Automobile loans		2,069			2,008			1,913			1,857			2,337			(268	)		(11.5	)
Automobile leases		2,468			2,461			2,388			2,250			2,139			329			15.4
Automobile loans and leases		4,537			4,469			4,301			4,107			4,476			61			1.4
Home equity		4,636			4,570			4,489			4,337			4,107			529			12.9
Residential mortgage		4,080			3,919			3,695			3,484			2,986			1,094			36.6
Other loans		491			480			479			461			434			57			13.1
Total consumer		13,744			13,438			12,964			12,389			12,003			1,741			14.5
Total loans and leases		24,458			23,856			23,032			22,195			21,767			2,691			12.4
Allowance for loan and lease losses		(270	)		(282	)		(283	)		(288	)		(310	)		40			12.9
Net loans and leases		24,188			23,574			22,749			21,907			21,457			2,731			12.7
Total earning assets		29,249			29,128			28,506			27,737			27,557			1,692			6.1
Operating lease assets		409			529			648			800			977			(568	)		(58.1	)
Cash and due from banks		865			909			880			928			772			93			12.0
Intangible assets		218			218			216			216			216			2			0.9
All other assets		2,149			2,079			2,094			2,066			2,101			48			2.3
Total Assets	$	32,620		$	32,581		$	32,061		$	31,459		$	31,313		$	1,307			4.2	%
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — non-interest bearing	$	3,352		$	3,314		$	3,401		$	3,276		$	3,223		$	129			4.0	%
Demand deposits — interest bearing		7,677			7,925			7,658			7,384			7,168			509			7.1
Savings and other domestic time deposits		3,230			3,309			3,395			3,436			3,439			(209	)		(6.1	)
Retail certificates of deposit		2,720			2,496			2,454			2,414			2,400			320			13.3
Total core deposits		16,979			17,044			16,908			16,510			16,230			749			4.6
Domestic time deposits of $100,000 or more		1,248			1,249			990			886			795			453			57.0
Brokered deposits and negotiable CDs		3,249			2,728			1,948			1,755			1,737			1,512			87.0
Deposits in foreign offices		434			442			465			476			542			(108	)		(19.9	)
Total deposits		21,910			21,463			20,311			19,627			19,304			2,606			13.5
Short-term borrowings		1,301			1,179			1,302			1,342			1,396			(95	)		(6.8	)
Federal Home Loan Bank advances		1,136			1,196			1,270			1,270			1,270			(134	)		(10.6	)
Subordinated notes and other long-term debt		4,100			4,517			5,099			5,244			5,623			(1,523	)		(27.1	)
Total interest bearing liabilities		25,095			25,041			24,581			24,207			24,370			725			3.0
All other liabilities		1,554			1,699			1,598			1,564			1,397			157			11.2
Shareholders’ equity		2,619			2,527			2,481			2,412			2,323			296			12.7
Total Liabilities and Shareholders’ Equity	$	32,620		$	32,581		$	32,061		$	31,459		$	31,313		$	1,307			4.2	%

N.M., not a meaningful value.
(1)	For purposes of this analysis, non-accrual loans are reflected in the average balances of loans.

4

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

	Average Rates (2)
	2005						2004
Fully taxable equivalent basis (1)	Second			First			Fourth			Third			Second
Assets
Interest bearing deposits in banks		1.47	%		1.88	%		1.61	%		0.91	%		1.05	%
Trading account securities		3.94			4.14			4.15			4.44			3.02
Federal funds sold and securities purchased under resale agreements		2.76			2.36			1.99			1.53			1.21
Loans held for sale		6.04			5.55			5.69			5.25			5.17
Investment securities:
Taxable		4.13			3.87			3.77			3.83			3.83
Tax-exempt		6.76			6.73			6.89			7.06			7.07
Total investment securities		4.40			4.14			4.07			4.10			4.09
Loans and leases: (3)
Commercial:
Middle market commercial and industrial		5.65			5.02			4.80			4.46			4.05
Construction		5.70			5.13			4.65			4.13			3.73
Commercial		5.44			5.15			4.80			4.45			4.20
Middle market commercial real estate		5.56			5.14			4.73			4.31			4.02
Small business commercial and industrial and commercial real estate		5.99			5.81			5.67			5.45			5.33
Total commercial		5.69			5.23			4.96			4.62			4.30
Consumer:
Automobile loans		6.57			6.83			7.31			7.65			7.20
Automobile leases		4.91			4.92			5.00			5.02			5.06
Automobile loans and leases		5.67			5.78			6.02			6.21			6.17
Home equity		6.24			5.77			5.30			4.84			4.75
Residential mortgage		5.37			5.36			5.53			5.48			5.40
Other loans		6.22			6.42			6.87			6.54			6.21
Total consumer		5.79			5.67			5.66			5.54			5.49
Total loans and leases		5.75			5.48			5.34			5.12			4.95
Total earning assets		5.52	%		5.21	%		5.05	%		4.89	%		4.76	%
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits - non-interest bearing		—	%		—	%		—	%		—	%		—	%
Demand deposits interest bearing		1.64			1.45			1.21			1.06			0.94
Savings and other domestic time deposits		1.34			1.27			1.26			1.24			1.23
Retail certificates of deposit		3.49			3.43			3.38			3.32			3.27
Total core deposits		1.94			1.76			1.62			1.52			1.45
Domestic time deposits of $100,000 or more		3.27			2.92			2.51			2.40			2.37
Brokered deposits and negotiable CDs		3.25			2.80			2.26			1.84			1.57
Deposits in foreign offices		1.95			1.41			0.98			0.83			0.76
Total deposits		2.26			1.99			1.73			1.58			1.48
Short-term borrowings		2.16			1.66			1.17			0.92			0.80
Federal Home Loan Bank advances		3.02			2.90			2.68			2.60			2.52
Subordinated notes and other long-term debt		3.91			3.39			2.67			2.62			2.24
Total interest bearing liabilities		2.56	%		2.27	%		1.94	%		1.82	%		1.66	%
Net interest rate spread		2.96	%		2.94	%		3.11	%		3.07	%		3.10	%
Impact of non-interest bearing funds on margin		0.40			0.37			0.27			0.23			0.19
Net interest margin		3.36	%		3.31	%		3.38	%		3.30	%		3.29	%

(1)	Fully taxable equivalent (FTE) yields are calculated assuming a 35% tax rate. See page 7 for the FTE adjustment.
(2)	Loan, lease, and deposit average rates include impact of applicable derivatives and non-deferrable fees.
(3)	For purposes of this analysis, non-accrual loans are reflected in the average balances of loans.

5

Huntington Bancshares Incorporated
Quarterly Average Loans and Direct Financing Leases
  And Deposit Composition By Business Segment
(Unaudited)

	Average Balances										Change
	2005				2004						2Q05 vs 2Q04
(in millions of dollars)	Second		First		Fourth		Third		Second		Amount			Percent
Loans and direct financing leases (1)
Regional Banking:
Central Ohio	$	6,537	$	6,371	$	6,137	$	5,855	$	5,309	$	1,228			23.1	%
Northern Ohio		2,921		2,867		2,810		2,747		2,689		232			8.6
Southern Ohio / Kentucky		2,067		1,967		1,862		1,794		1,729		338			19.5
West Michigan		2,366		2,297		2,255		2,230		2,194		172			7.8
East Michigan		1,479		1,444		1,402		1,376		1,334		145			10.9
West Virginia		907		878		875		840		811		96			11.8
Indiana		1,022		980		906		835		782		240			30.7
Regional Banking		17,299		16,804		16,247		15,677		14,848		2,451			16.5
Dealer Sales		5,496		5,410		5,204		4,982		5,436		60			1.1
Private Financial and Capital Markets Group		1,663		1,642		1,581		1,536		1,483		180			12.1
Treasury / Other		—		—		—		—		—		—			—
Total loans and direct financing leases	$	24,458	$	23,856	$	23,032	$	22,195	$	21,767	$	2,691			12.4	%
Deposit composition (1)
Regional Banking:
Central Ohio	$	4,751	$	4,658	$	4,557	$	4,411	$	4,470	$	281			6.3	%
Northern Ohio		3,931		4,085		4,028		3,937		3,696		235			6.4
Southern Ohio / Kentucky		1,750		1,764		1,665		1,573		1,515		235			15.5
West Michigan		2,638		2,684		2,672		2,641		2,612		26			1.0
East Michigan		2,270		2,298		2,199		2,132		2,063		207			10.0
West Virginia		1,387		1,367		1,359		1,373		1,321		66			5.0
Indiana		723		698		679		665		657		66			10.0
Regional Banking		17,450		17,554		17,159		16,732		16,334		1,116			6.8
Dealer Sales		69		71		72		72		72		(3	)		(4.2	)
Private Financial and Capital Markets Group		1,134		1,094		1,116		1,049		1,064		70			6.6
Treasury / Other		3,257		2,744		1,964		1,774		1,834		1,423			77.6
Total deposits	$	21,910	$	21,463	$	20,311	$	19,627	$	19,304	$	2,606			13.5	%

⁽¹⁾ Prior period amounts have been reclassified to conform to the current period business segment structure. Effective June 30, 2005, the Capital Markets Group was removed from Treasury / Other and combined with the Private Financial Group (PFG), prior period amounts have been reclassified.

6

Huntington Bancshares Incorporated
Selected Quarterly Income Statement Data
(Unaudited)

	2005						2004									2Q05 vs 2Q04
(in thousands of dollars, except per share amounts)	Second			First			Fourth			Third			Second			Amount			Percent
Interest income	$	402,326		$	376,105		$	359,215		$	338,002		$	324,167		$	78,159			24.1	%
Interest expense		160,426			140,907			120,147			110,944			101,604			58,822			57.9
Net interest income		241,900			235,198			239,068			227,058			222,563			19,337			8.7
Provision for credit losses		12,895			19,874			12,654			11,785			5,027			7,868			N.M.
Net interest income after provision for credit losses		229,005			215,324			226,414			215,273			217,536			11,469			5.3
Operating lease income		38,097			46,732			55,106			64,412			78,706			(40,609	)		(51.6	)
Service charges on deposit accounts		41,516			39,418			41,747			43,935			43,596			(2,080	)		(4.8	)
Trust services		19,113			18,196			17,315			17,064			16,708			2,405			14.4
Brokerage and insurance income		13,544			13,026			12,879			13,200			13,523			21			0.2
Bank owned life insurance income		10,139			10,104			10,484			10,019			11,309			(1,170	)		(10.3	)
Other service charges and fees		11,252			10,159			10,617			10,799			10,645			607			5.7
Mortgage banking income (loss)		(2,376	)		12,061			8,822			4,448			23,322			(25,698	)		N.M.
Securities gains (losses)		(343	)		957			2,100			7,803			(9,230	)		8,887			96.3
Gain on sales of automobile loans		254			—			—			312			4,890			(4,636	)		(94.8	)
Other income		24,974			17,397			23,870			17,899			24,659			315			1.3
Total non-interest income		156,170			168,050			182,940			189,891			218,128			(61,958	)		(28.4	)
Personnel costs		124,090			123,981			122,738			121,729			119,715			4,375			3.7
Operating lease expense		28,879			37,948			48,320			54,885			62,563			(33,684	)		(53.8	)
Net occupancy		17,257			19,242			26,082			16,838			16,258			999			6.1
Outside data processing and other services		18,113			18,770			18,563			17,527			17,563			550			3.1
Equipment		15,637			15,863			15,733			15,295			16,228			(591	)		(3.6	)
Professional services		9,347			9,459			9,522			12,219			7,836			1,511			19.3
Marketing		7,441			6,454			5,581			5,000			8,069			(628	)		(7.8	)
Telecommunications		4,801			4,882			4,596			5,359			4,638			163			3.5
Printing and supplies		3,293			3,094			3,148			3,201			3,098			195			6.3
Amortization of intangibles		204			204			205			204			204			—			—
Restructuring reserve releases		—			—			—			(1,151	)		—			—			—
Other expense		19,074			18,380			26,526			22,317			25,981			(6,907	)		(26.6	)
Total non-interest expense		248,136			258,277			281,014			273,423			282,153			(34,017	)		(12.1	)
Income before income taxes		137,039			125,097			128,340			131,741			153,511			(16,472	)		(10.7	)
Provision for income taxes		30,614			28,578			37,201			38,255			43,384			(12,770	)		(29.4	)
Net income	$	106,425		$	96,519		$	91,139		$	93,486		$	110,127		$	(3,702	)		(3.4	)%
Average common shares — diluted		235,671			235,053			235,502			234,348			232,659			3,012			1.3	%
Per common share
Net income — diluted	$	0.45		$	0.41		$	0.39		$	0.40		$	0.47		$	(0.02	)		(4.3	)
Cash dividends declared		0.215			0.200			0.200			0.200			0.175			0.040			22.9
Return on average total assets		1.31	%		1.20	%		1.13	%		1.18	%		1.41	%		(0.10	)%		(7.1	)
Return on average total shareholders’ equity		16.3			15.5			14.6			15.4			19.1			(2.8	)		(14.7	)
Net interest margin (1)		3.36			3.31			3.38			3.30			3.29			0.07			2.1
Efficiency ratio (2)		61.8			63.7			66.4			66.3			62.3			(0.5	)		(0.8	)
Effective tax rate		22.3			22.8			29.0			29.0			28.3			(6.0	)		(21.2	)
Revenue - fully taxable equivalent (FTE)
Net interest income	$	241,900		$	235,198		$	239,068		$	227,058		$	222,563		$	19,337			8.7
FTE adjustment		2,961			2,861			2,847			2,864			2,919			42			1.4
Net interest income (1)		244,861			238,059			241,915			229,922			225,482			19,379			8.6
Non-interest income		156,170			168,050			182,940			189,891			218,128			(61,958	)		(28.4	)
Total revenue (1)	$	401,031		$	406,109		$	424,855		$	419,813		$	443,610		$	(42,579	)		(9.6	)%

N.M., not a meaningful value.
(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 (losses).

7

Huntington Bancshares Incorporated
Quarterly Credit Reserves Analysis
(Unaudited)

	2005						2004
(in thousands of dollars)	Second			First			Fourth			Third			Second
Allowance for loan and lease losses, beginning of period	$	264,390		$	271,211		$	282,650		$	286,935		$	295,377
Loan and lease losses		(25,733	)		(37,213	)		(31,737	)		(26,366	)		(30,845	)
Recoveries of loans previously charged off		9,469			8,941			10,824			9,886			18,330
Net loan and lease losses		(16,264	)		(28,272	)		(20,913	)		(16,480	)		(12,515	)
Provision for loan and lease losses		13,247			21,451			9,474			12,971			5,923
Economic reserve transfer		(6,253	)		—			—			—			—
Allowance of assets sold and securitized		(336	)		—			—			(776	)		(1,850	)
Allowance for loan and lease losses, end of period	$	254,784		$	264,390		$	271,211		$	282,650		$	286,935
Allowance for unfunded loan commitments and letters of credit, beginning of period	$	31,610		$	33,187		$	30,007		$	31,193		$	32,089
Provision for unfunded loan commitments and letters of credit losses		(352	)		(1,577	)		3,180			(1,186	)		(896	)
Economic reserve transfer		6,253			—			—			—			—
Allowance for unfunded loan commitments and letters of credit, end of period	$	37,511		$	31,610		$	33,187		$	30,007		$	31,193
Total allowances for credit losses	$	292,295		$	296,000		$	304,398		$	312,657		$	318,128
Allowance for loan and lease losses (ALLL) as % of:
Transaction reserve		0.77	%		0.81	%		0.78	%		0.84	%		0.86	%
Economic reserve		0.22			0.27			0.32			0.33			0.36
Specific reserve		0.05			0.01			0.05			0.08			0.10
Total loans and leases		1.04	%		1.09	%		1.15	%		1.25	%		1.32	%
Non-performing loans and leases (NPLs)		304			441			424			417			464
Non-performing assets (NPAs)		262			361			250			351			384
Total allowances for credit losses (ACL) as % of:
Total loans and leases		1.19	%		1.22	%		1.29	%		1.38	%		1.46	%
Non-performing loans and leases		349			494			476			461			515
Non-performing assets		300			404			280			389			426

8

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

	2005						2004
(in thousands of dollars)	Second			First			Fourth			Third			Second
Net charge-offs by loan and lease type:
Commercial:
Middle market commercial and industrial	$	1,312		$	14,092		$	1,239		$	(102	)	$	(3,642	)
Construction		(134	)		(51	)		704			(19	)		276
Commercial		2,269			(152	)		1,834			1,490			2,222
Middle market commercial real estate		2,135			(203	)		2,538			1,471			2,498
Small business commercial and industrial and commercial real estate		2,141			2,283			1,386			1,195			1,281
Total commercial		5,588			16,172			5,163			2,564			137
Consumer:
Automobile loans		1,664			3,216			4,406			5,142			5,604
Automobile leases		2,123			3,014			3,104			2,415			2,159
Automobile loans and leases		3,787			6,230			7,510			7,557			7,763
Home equity		5,065			3,963			5,346			4,259			2,569
Residential mortgage		430			439			608			534			302
Other loans		1,394			1,468			2,286			1,566			1,744
Total consumer		10,676			12,100			15,750			13,916			12,378
Total net charge-offs	$	16,264		$	28,272		$	20,913		$	16,480		$	12,515
Net charge-offs — annualized percentages:
Commercial:
Middle market commercial and industrial		0.11	%		1.20	%		0.11	%		(0.01	)%		(0.32	)%
Construction		(0.03	)		(0.01	)		0.18			(0.01	)		0.09
Commercial		0.48			(0.03	)		0.40			0.31			0.46
Middle market commercial real estate		0.24			(0.02	)		0.30			0.17			0.31
Small business commercial and industrial and commercial real estate		0.38			0.42			0.26			0.23			0.25
Total commercial		0.21			0.62			0.21			0.10			0.01
Consumer:
Automobile loans		0.32			0.64			0.92			1.11			0.96
Automobile leases		0.34			0.49			0.52			0.43			0.40
Automobile loans and leases		0.33			0.56			0.70			0.74			0.69
Home equity		0.44			0.35			0.48			0.39			0.25
Residential mortgage		0.04			0.04			0.07			0.06			0.04
Other loans		1.14			1.22			1.91			1.36			1.62
Total consumer		0.31			0.36			0.49			0.45			0.41
Net charge-offs as a % of average loans		0.27	%		0.47	%		0.36	%		0.30	%		0.23	%

9

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

	2005						2004
(in thousands of dollars)	June 30,			March 31,			December 31,			September 30,			June 30,
Non-accrual loans and leases:
Middle market commercial and industrial	$	26,856		$	16,993		$	24,179		$	20,098		$	24,336
Middle market commercial real estate		15,331			6,682			4,582			14,717			11,122
Small business commercial and industrial and commercial real estate		19,788			16,387			14,601			12,087			12,368
Residential mortgage		14,137			12,498			13,545			13,197			13,952
Home equity (1)		7,748			7,333			7,055			7,685			—
Total non-performing loans and leases		83,860			59,893			63,962			67,784			61,778
Other real estate, net:
Residential		10,758			10,571			8,762			8,840			8,851
Commercial (2)		2,800			2,839			35,844			3,852			4,067
Total other real estate, net		13,558			13,410			44,606			12,692			12,918
Total non-performing assets	$	97,418		$	73,303		$	108,568		$	80,476		$	74,696
Non-performing loans and leases as a % of total loans and leases		0.34	%		0.25	%		0.27	%		0.30	%		0.28	%
Non-performing assets as a % of total loans and leases and other real estate		0.40			0.30			0.46			0.36			0.34
Accruing loans and leases past due 90 days or more (1)	$	53,371		$	50,086		$	54,283		$	53,456		$	51,490
Accruing loans and leases past due 90 days or more as a percent of total loans and leases		0.22	%		0.21	%		0.23	%		0.24	%		0.24	%
	2005						2004
(in thousands of dollars)	Second			First			Fourth			Third			Second
Non-performing assets, beginning of period	$	73,303		$	108,568		$	80,476		$	74,696		$	91,694
New non-performing assets (1) (2)		47,420			33,607			61,684			22,740			25,727
Returns to accruing status		(250	)		(3,838	)		(2,248	)		—			(1,493	)
Loan and lease losses		(6,578	)		(17,281	)		(8,578	)		(5,424	)		(12,872	)
Payments		(11,925	)		(10,404	)		(8,829	)		(10,202	)		(13,571	)
Sales (2)		(4,552	)		(37,349	)		(13,937	)		(1,334	)		(14,789	)
Non-performing assets, end of period	$	97,418		$	73,303		$	108,568		$	80,476		$	74,696

(1)	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 non-accrual 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.”
(2)	At December 31, 2004, other real estate owned included $35.7 million of properties that related to the work-out of $5.9 million of mezzanine loans. These properties were subject to $29.8 million of non-recourse debt to another financial institution. Both properties were sold in the first quarter of 2005.

10

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

Quarterly common stock summary

	2005						2004
(in thousands, except per share amounts)	Second			First			Fourth			Third			Second
Common stock price, per share
High (1)	$	24.750		$	24.780		$	25.380		$	25.150		$	23.120
Low (1)		22.570			22.150			23.110			22.700			20.890
Close		24.140			23.900			24.740			24.910			22.980
Average closing price		23.771			23.216			24.241			24.105			22.050
Dividends, per share
Cash dividends declared on common stock	$	0.215		$	0.200		$	0.200		$	0.200		$	0.175
Common shares outstanding
Average - basic		232,217			231,824			231,147			229,848			229,429
Average - diluted		235,671			235,053			235,502			234,348			232,659
Ending		230,842			232,192			231,605			230,153			229,476
Book value per share	$	11.40		$	11.15		$	10.96		$	10.69		$	10.40
Common share repurchase program
Number of shares repurchased		1,818			—			—			—			—
Capital adequacy
	2005						2004
(in millions of dollars)	June 30,			March 31,			December 31,			September 30,			June 30,
Total risk-weighted assets (2)	$	30,006		$	30,267		$	29,542		$	28,679		$	28,416
Tier 1 leverage ratio (2)		8.52	%		8.45	%		8.42	%		8.36	%		8.20	%
Tier 1 risk-based capital ratio (2)		9.20			9.04			9.08			9.10			8.98
Total risk-based capital ratio (2)		12.41			12.33			12.48			12.53			12.56
Tangible equity / asset ratio		7.36			7.42			7.18			7.11			6.95
Tangible equity / risk-weighted assets ratio (2)		8.04			7.84			7.86			7.83			7.64
Average equity / average assets		8.03			7.76			7.74			7.67			7.42
Other data
Number of employees (full-time equivalent)		7,713			7,813			7,812			7,906			8,045
Number of domestic full-service banking offices (3)		344			343			342			341			341

(1)	High and low stock prices are intra-day quotes obtained from NASDAQ.
(2)	Second quarter 2005 figures are estimated.
(3)	Includes three Private Financial Group offices in Florida.

11

Huntington Bancshares Incorporated
Quarterly Operating Lease Performance
(Unaudited)

	2005								2004									2Q05 vs 2Q04
(in thousands of dollars)		Second			First			Fourth			Third			Second			Amount			Percent
Balance Sheet:
Average operating lease assets outstanding		$	408,798		$	529,245		$	647,970		$	800,145		$	976,626		$	(567,828	)		(58.1	)%
Income Statement:
Net rental income		$	34,562		$	43,554		$	51,016		$	60,267		$	72,402		$	(37,840	)		(52.3	)%
Fees			1,773			1,857			2,111			2,965			4,838			(3,065	)		(63.4	)
Recoveries - early terminations			1,762			1,321			1,979			1,180			1,466			296			20.2
Total operating lease income			38,097			46,732			55,106			64,412			78,706			(40,609	)		(51.6	)
Depreciation and residual losses at termination			26,560			34,703			45,293			49,917			57,412			(30,852	)		(53.7	)
Losses - early terminations			2,319			3,245			3,027			4,968			5,151			(2,832	)		(55.0	)
Total operating lease expense			28,879			37,948			48,320			54,885			62,563			(33,684	)		(53.8	)
Net earnings contribution		$	9,218		$	8,784		$	6,786		$	9,527		$	16,143		$	(6,925	)		(42.9	)%
Earnings ratios (1)
Net rental income			33.8	%		32.9	%		31.5	%		30.1	%		29.7	%		4.1	%		13.8	%
Depreciation and residual losses at termination			26.0			26.2			28.0			25.0			23.5			2.5			10.6

Definition of term(s):

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.

12

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

	YTD Average Balances
Fully taxable equivalent basis	Six Months Ending June 30,						Change
(in millions of dollars)	2005			2004			Amount			Percent
Assets
Interest bearing deposits in banks	$	54		$	74		$	(20	)		(27.0	)%
Trading account securities		218			22			196			N.M.
Federal funds sold and securities purchased under resale agreements		349			130			219			N.M.
Loans held for sale		240			231			9			3.9
Investment securities:
Taxable		3,759			4,753			(994	)		(20.9	)
Tax-exempt		410			423			(13	)		(3.1	)
Total investment securities		4,169			5,176			(1,007	)		(19.5	)
Loans and leases: (1)
Commercial:
Middle market commercial and industrial		4,806			4,498			308			6.8
Construction		1,659			1,274			385			30.2
Commercial		1,894			1,896			(2	)		(0.1	)
Middle market commercial real estate		3,553			3,170			383			12.1
Small business commercial and industrial and commercial real estate		2,207			1,996			211			10.6
Total commercial		10,566			9,664			902			9.3
Consumer:
Automobile loans		2,038			2,689			(651	)		(24.2	)
Automobile leases		2,465			2,064			401			19.4
Automobile loans and leases		4,503			4,753			(250	)		(5.3	)
Home equity		4,603			3,959			644			16.3
Residential mortgage		4,000			2,830			1,170			41.3
Other loans		486			429			57			13.3
Total consumer		13,592			11,971			1,621			13.5
Total loans and leases		24,158			21,635			2,523			11.7
Allowance for loan and lease losses		(276	)		(311	)		35			11.3
Net loans and leases		23,882			21,324			2,558			12.0
Total earning assets		29,188			27,268			1,920			7.0
Operating lease assets		469			1,070			(601	)		(56.2	)
Cash and due from banks		887			756			131			17.3
Intangible assets		218			217			1			0.5
All other assets		2,115			2,075			40			1.9
Total Assets	$	32,601		$	31,075		$	1,526			4.9	%
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — non-interest bearing	$	3,333		$	3,120		$	213			6.8	%
Demand deposits — interest bearing		7,800			6,889			911			13.2
Savings and other domestic time deposits		3,266			3,447			(181	)		(5.3	)
Retail certificates of deposit		2,609			2,400			209			8.7
Total core deposits		17,008			15,856			1,152			7.3
Domestic time deposits of $100,000 or more		1,249			792			457			57.7
Brokered deposits and negotiable CDs		2,995			1,822			1,173			64.4
Deposits in foreign offices		438			545			(107	)		(19.6	)
Total deposits		21,690			19,015			2,675			14.1
Short-term borrowings		1,240			1,499			(259	)		(17.3	)
Federal Home Loan Bank advances		1,166			1,272			(106	)		(8.3	)
Subordinated notes and other long-term debt		4,308			5,590			(1,282	)		(22.9	)
Total interest bearing liabilities		25,071			24,256			815			3.4
All other liabilities		1,624			1,398			226			16.2
Shareholders’ equity		2,573			2,301			272			11.8
Total Liabilities and Shareholders’ Equity	$	32,601		$	31,075		$	1,526			4.9	%

N.M., not a meaningful value.
(1)	For purposes of this analysis, non-accrual loans are reflected in the average balances of loans.

13

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

	YTD Average Rates
	Six Months Ending June 30,
Fully Taxable Equivalent basis (1)	2005			2004
Assets
Interest bearing deposits in banks		1.67	%		0.88	%
Trading account securities		4.03			3.36
Federal funds sold and securities purchased under resale agreements		2.49			1.28
Loans held for sale		5.83			5.25
Investment securities:
Taxable		3.99			3.94
Tax-exempt		6.75			6.97
Total investment securities		4.26			4.19
Loans and leases:
Commercial:
Middle market commercial and industrial		5.34			4.19
Construction		5.42			3.70
Commercial		5.30			4.26
Middle market commercial real estate		5.35			4.03
Small business commercial and industrial and commercial real estate		5.90			5.40
Total commercial		5.46			4.39
Consumer:
Automobile loans		6.70			7.05
Automobile leases		4.91			5.02
Automobile loans and leases		5.72			6.17
Home equity		6.01			4.88
Residential mortgage		5.36			5.37
Other loans		6.32			7.37
Total consumer		5.73			5.51
Total loans and leases		5.62			5.00
Total earning assets		5.37	%		4.83	%
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — non-interest bearing		—	%		—	%
Demand deposits — interest bearing		1.54			0.92
Savings and other domestic time deposits		1.30			1.32
Retail certificates of deposit		3.46			3.37
Total core deposits		1.85			1.49
Domestic time deposits of $100,000 or more		3.10			2.26
Brokered deposits and negotiable CDs		3.05			1.54
Deposits in foreign offices		1.69			0.74
Total deposits		2.13			1.51
Short-term borrowings		1.91			0.82
Federal Home Loan Bank advances		2.96			2.51
Subordinated notes and other long-term debt		3.64			2.28
Total interest bearing liabilities		2.42			1.68
Net interest rate spread		2.95			3.15
Impact of non-interest bearing funds on margin		0.39			0.17
Net interest margin		3.34	%		3.32	%

(1)	Fully taxable equivalent (FTE) yields are calculated assuming a 35% tax rate. See page 15 for the FTE adjustment.
(2)	Loan and lease and deposit average rates include impact of applicable derivatives and non-deferrable fees.
(3)	For purposes of this analysis, non-accrual loans are reflected in the average balances of loans.

14

Huntington Bancshares Incorporated
Selected Year To Date Income Statements
(Unaudited)

	Six Months Ended June 30,						Change
(in thousands of dollars, except per share amounts)	2005			2004			Amount			Percent
Interest income	$	778,431		$	650,098		$	128,333			19.7	%
Interest expense		301,333			204,850			96,483			47.1
Net interest income		477,098			445,248			31,850			7.2
Provision for credit losses		32,769			30,623			2,146			7.0
Net interest income after provision for credit losses		444,329			414,625			29,704			7.2
Operating lease income		84,829			167,573			(82,744	)		(49.4	)
Service charges on deposit accounts		80,934			85,433			(4,499	)		(5.3	)
Trust services		37,309			33,031			4,278			13.0
Brokerage and insurance income		26,570			28,720			(2,150	)		(7.5	)
Bank owned life insurance income		20,243			21,794			(1,551	)		(7.1	)
Other service charges and fees		21,411			20,158			1,253			6.2
Mortgage banking income		9,685			19,026			(9,341	)		(49.1	)
Securities gains		614			5,860			(5,246	)		(89.5	)
Gain on sales of automobile loans		254			13,894			(13,640	)		(98.2	)
Other income		42,371			50,278			(7,907	)		(15.7	)
Total non-interest income		324,220			445,767			(121,547	)		(27.3	)
Personnel costs		248,071			241,339			6,732			2.8
Operating lease expense		66,827			133,273			(66,446	)		(49.9	)
Net occupancy		36,499			33,021			3,478			10.5
Outside data processing and other services		36,883			36,025			858			2.4
Equipment		31,500			32,314			(814	)		(2.5	)
Professional services		18,806			15,135			3,671			24.3
Marketing		13,895			15,908			(2,013	)		(12.7	)
Telecommunications		9,683			9,832			(149	)		(1.5	)
Printing and supplies		6,387			6,114			273			4.5
Amortization of intangibles		408			408			—			—
Other expense		37,454			44,438			(6,984	)		(15.7	)
Total non-interest expense		506,413			567,807			(61,394	)		(10.8	)
Income before income taxes		262,136			292,585			(30,449	)		(10.4	)
Provision for income taxes		59,192			78,285			(19,093	)		(24.4	)
Net income	$	202,944		$	214,300		$	(11,356	)		(5.3	)%
Average common shares - diluted		235,362			232,787			2,575			1.1	%
Per common share
Net income per common share - diluted	$	0.86		$	0.92		$	(0.06	)		(6.5	)%
Cash dividends declared		0.415			0.350			0.065			18.6
Return on average total assets		1.26	%		1.39	%		(0.13	)%		(9.4	)%
Return on average total shareholders’ equity		15.9			18.7			(2.8	)		(15.0	)
Net interest margin (1)		3.34			3.32			0.02			0.6
Efficiency ratio (2)		62.7			63.7			(1.0	)		(1.6	)
Effective tax rate		22.6			26.8			(4.20	)		(15.7	)
Revenue - fully taxable equivalent (FTE)
Net interest income	$	477,098		$	445,248		$	31,850			7.2	%
FTE adjustment (1)		5,822			5,942			(120	)		(2.0	)
Net interest income		482,920			451,190			31,730			7.0
Non-interest income		324,220			445,767			(121,547	)		(27.3	)
Total revenue	$	807,140		$	896,957		$	(89,817	)		(10.0	)%

N.M., not a meaningful value.

⁽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.

15

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

	Six Months Ended June 30,
(in thousands of dollars)	2005			2004
Allowance for loan and lease losses, beginning of period	$	271,211		$	299,732
Loan and lease losses		(62,946	)		(68,012	)
Recoveries of loans previously charged off		18,410			26,870
Net loan and lease losses		(44,536	)		(41,142	)
Provision for loan and lease losses		34,698			34,952
Economic reserve transfer		(6,253	)		—
Allowance of assets sold and securitized		(336	)		(6,607	)
Allowance for loan and lease losses, end of period	$	254,784		$	286,935
Allowance for unfunded loan commitments and letters of credit, beginning of period	$	33,187		$	35,522
Provision for unfunded loan commitments and letters of credit losses		(1,929	)		(4,329	)
Economic reserve transfer		6,253			—
Allowance for unfunded loan commitments and letters of credit, end of period	$	37,511		$	31,193
Total allowances for credit losses	$	292,295		$	318,128

16

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

	Six Months Ended June 30,
(in thousands of dollars)	2005			2004
Net charge-offs by loan and lease type:
Commercial:
Middle market commercial and industrial	$	15,404		$	783
Construction		(185	)		1,780
Commercial		2,117			2,182
Middle market commercial real estate		1,932			3,962
Small business commercial and industrial
and commercial real estate		4,424			2,985
Total commercial		21,760			7,730
Consumer:
Automobile loans		4,880			19,026
Automobile leases		5,137			5,318
Automobile loans and leases		10,017			24,344
Home equity		9,028			5,469
Residential mortgage		869			618
Other loans		2,862			2,981
Total consumer		22,776			33,412
Total net charge-offs	$	44,536		$	41,142
Net charge-offs - annualized percentages:
Commercial:
Middle market commercial and industrial		0.64	%		0.03	%
Construction		(0.02	)		0.28
Commercial		0.22			0.23
Middle market commercial real estate		0.11			0.25
Small business commercial and industrial		—			—
and commercial real estate		0.40			0.30
Total commercial		0.41			0.16
Consumer:
Automobile loans		0.48			1.42
Automobile leases		0.42			0.52
Automobile loans and leases		0.44			1.02
Home equity		0.39			0.28
Residential mortgage		0.04			0.04
Other loans		1.18			1.39
Total consumer		0.34			0.56
Net charge-offs as a % of average loans		0.37	%		0.38	%

17

Huntington Bancshares Incorporated
Year To Date Operating Lease Performance
(Unaudited)

	Six Months Ended June 30,						2005 vs 2004
(in thousands of dollars)	2005			2004			Amount			Percent
Balance Sheet:
Average operating lease assets outstanding	$	468,688		$	1,071,386		$	(602,698	)		(56.3)	%
Income Statement:
Net rental income	$	78,116		$	155,919		$	(77,803	)		(49.9	)
Fees		3,630			8,381			(4,751	)		(56.7	)
Recoveries - early terminations		3,083			3,273			(190	)		(5.8	)
Total operating lease income		84,829			167,573			(82,744	)		(49.4	)
Depreciation and residual losses at termination		61,263			121,235			(59,972	)		(49.5	)
Losses - early terminations		5,564			12,038			(6,474	)		(53.8	)
Total operating lease expense		66,827			133,273			(66,446	)		(49.9	)
Net earnings contribution	$	18,002		$	34,300		$	(16,298	)		(47.5)	%
Earnings ratios (1)
Net rental income		33.3	%		29.1	%		4.2	%		14.4	%
Depreciation and residual losses at termination		26.1			22.6			3.5			15.5

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.

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