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 21, 2006

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 21, 2006, Huntington Bancshares Incorporated (“Huntington”) issued a news release announcing its earnings for the quarter ended June 30, 2006. Also on July 21, 2006, 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 21, 2006, at 1:00 p.m. EST. The call may be accessed via a live Internet webcast at www.huntington-ir.com or through a dial-in telephone number at 800-223-1238; conference ID 1973909. Slides will be available at www.huntington-ir.com just prior to 1:00 p.m. EST on July 21, 2006, 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, 2006, at 800-642-1687; conference call ID 1973909.

     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 “Risk Factors” included in Item 1A of Huntington’s Annual Report on Form 10-K for the year ended December 31, 2005, 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 or incorporated by reference in Item 2.02 of this Form 8-K shall be treated as “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.

Item 9.01. Financial Statements and Exhibits.

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

(d) Exhibits.

Exhibit 99.1 — News release of Huntington Bancshares Incorporated, dated July 21, 2006.

Exhibit 99.2 — Quarterly Financial Review, June 2006.

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 21, 2006	By:	/s/ Donald R. Kimble
		Donald R. Kimble
		Chief Financial Officer

EXHIBIT INDEX

Exhibit No.	Description
Exhibit 99.1	News release of Huntington Bancshares Incorporated, July 21, 2006.
Exhibit 99.2	Quarterly Financial Review, June 2006.

EX-99.1

Exhibit 99.1

NEWS RELEASE

FOR IMMEDIATE RELEASE
July 21, 2006

Contacts:
Analysts		Media
Jay Gould	(614) 480-4060	Jeri Grier-Ball	(614) 480-5413
Susan Stuart	(614) 480-3878	Maureen Brown	(614) 480-4588

HUNTINGTON BANCSHARES REPORTS:

• 2006 SECOND QUARTER NET INCOME OF $111.6 MILLION, UP 5%, AND EARNINGS PER COMMON SHARE OF $0.46, UP 2%

• 2006 SIX-MONTH NET INCOME OF $216.1 MILLION, UP 6%, AND EARNINGS PER COMMON SHARE OF $0.90, UP 5%

• TARGETS 2006 FULL-YEAR GAAP EARNINGS PER COMMON SHARE OF $1.80-$1.83

     COLUMBUS, Ohio – Huntington Bancshares Incorporated (NASDAQ: HBAN; www.huntington.com) reported 2006 second quarter earnings of $111.6 million, or $0.46 per common share, up 5% and 2%, respectively, from $106.4 million, or $0.45 per common share, in the year-ago quarter. The lower percentage increase in earnings per common share compared to net income reflected the impact of the Unizan merger. Earnings in the 2006 first quarter were $104.5 million, or $0.45 per common share.

     Earnings for the first six months of 2006 were $216.1 million, or $0.90 per common share, up 6% and 5%, respectively, from $202.9 million, or $0.86 per common share, in 2005.

     Highlights compared with 2006 first quarter included:

• Full quarter’s impact from the merger with Unizan Financial Corp. (Unizan) on March 1, 2006. Unizan had assets of $2.5 billion when acquired, including $1.6 billion of loans and leases, and core deposits of $1.5 billion. In the following discussion, “merger-adjusted” amounts and percentage changes represent reported results adjusted to exclude the impact of the merger. “Merger-related” amounts and percentage changes represent the impact attributable to the merger. “Merger costs” represent expenses associated with merger integration activities. Management believes these distinctions are helpful in better discerning underlying growth rates and in analyzing performance trends compared to prior periods. (See the Basis of Presentation discussion for an explanation of the methodology used to estimate the impact of the Unizan merger on reported results along with related reconciliation tables).

• 3.34% net interest margin, up from 3.32%.

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• 30% annualized growth (11% merger-adjusted) in average total commercial loans.

• 6%, or $8.0 million ($4.8 million merger-related), increase in non-interest income before operating lease income, reflecting broad based growth in a number of key fee income categories including:

o 15% (12% merger-adjusted) increase in service charges on deposit accounts

o 14% (13% merger-adjusted) growth in mortgage banking income,

o 14% (12% merger-adjusted) growth in other service charges and fees.

• 0.21% annualized net charge-offs, down 18 basis points.

• Stable period-end allowance for loan and lease losses (ALLL) ratio and slight decline in non-performing loans (NPLs).

• $16.4 million increase in other real estate owned (OREO), reflecting a $12.6 million reclassification of foreclosed mortgage loans fully guaranteed by the U.S. government from over 90-day delinquent but still accruing loans.

• 6.46% period-end tangible common equity ratio, down from 6.97%, reflecting the repurchase of 8.1 million common shares, including 6.0 million in an accelerated stock repurchase transaction.

     “Second quarter net income and earnings per share were slightly above our expectations,” said Thomas E. Hoaglin, chairman, president, and chief executive officer. “The closing of the merger with Unizan Financial Corp. on March 1, 2006 favorably impacted reported growth rates of certain balance sheet and income statement items since this was the first full quarter after the merger. Yet, even excluding any impacts from the merger, we saw strength in some important areas.”

     “We were especially pleased that our net interest margin continued its trend of stability,” he noted. “Over the last 10 quarters, our net interest margin has remained within a narrow range of 3.29%-3.38%. This reflected our focus on disciplined loan and deposit pricing, as well as effective interest rate risk management. The strong merger-adjusted 11% annualized growth in average total commercial loans was also noteworthy, reflecting an almost two percentage point improvement in loan commitment utilization from the prior quarter. The continuation of a tough competitive environment made growing consumer loans and deposits a challenge. Average total core deposits on a merger-adjusted basis declined slightly as deposit pricing in our markets remained aggressive and we continued to exercise pricing discipline.”

     “We were also quite pleased with the linked-quarter merger-adjusted growth in important fee income categories. On a merger-adjusted basis, we saw 13% growth in mortgage banking income and 12% growth in service charges on deposit accounts, as well as in other service charges and fees. While merger-adjusted expenses increased, this was mostly in marketing, related to the timing of a television media campaign, as well as equipment expense, representing investments in growing and managing our business. We were also pleased that we generated positive operating leverage compared with the year-ago quarter.”

     “Underlying credit quality trends were strong,” he said. “Net charge-offs declined to 0.21%. With our provision for credit losses exceeding net charge-offs by $1.8 million, our allowance for loan losses ratio remained unchanged at 1.09%. Our 90-day delinquency ratio and NPLs remained stable. Though other real estate owned increased, this primarily reflected the

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reclassification of U.S. government guaranteed foreclosed loans from 90-day delinquent loans.”

     “Capital levels remained strong. As expected, our period end tangible common equity ratio declined, ending the quarter at 6.46%, due to the repurchase of 8.1 million common shares. This is at the high end of our 6.25%-6.50% targeted range. Our internal capital generation rate was 7%, and the expectation is that we will continue to generate excess capital in the second half of the year.”

     “A particular highlight was the completion of our very successful integration of Unizan’s 110,000 customer accounts to our technology platforms and the conversion of their banking offices to the Huntington brand.”

     “In sum, we continue to be quite pleased with our overall performance and remain optimistic about our prospects for the rest of the year. With earnings per share of $0.90 for the first half of the year, we are narrowing our full-year GAAP earnings targeted range to $1.80-$1.83 per share,” he concluded.

SECOND QUARTER PERFORMANCE DISCUSSION

Significant Factors Influencing Financial Performance Comparisons

     In addition to the first full quarter Unizan impact on results, other specific significant items impacting 2006 second quarter performance included (see Table 1 below):

• $2.6 million pre-tax ($0.01 earnings per share) negative impact from current period Unizan merger costs, which consisted primarily of retention bonuses and occupancy, outside programming services, and marketing expenses.

• $2.3 million pre-tax ($0.01 earnings per share) positive impact from equity investment gains.

Table 1 – Significant Items Impacting Earnings Performance Comparisons ⁽¹⁾

Three Months Ended	Impact (2)
(in millions, except per share)	After-tax			EPS
June 30, 2006 – GAAP earnings	$	111.6		$	0.46
• Unizan merger-related expenses		(2.6	) (3)		(0.01	)
• Equity investment gains		2.3	(3)		0.01
March 31, 2006 – GAAP earnings	$	104.5		$	0.45
• MSR mark-to-market, net of hedge-related trading activity		4.6	(3)		0.01
• Adjustment to defer home equity annual fees		(2.4	) (3)		(0.01	)
June 30, 2005 – GAAP earnings	$	106.4		$	0.45
• Net impact of federal tax loss carry back		6.6			0.03
• MSR valuation impairment, net of hedge-related trading activity		(4.0	) (3)		(0.01	)
• Severance and consolidation expenses		(3.6	) (3)		(0.01	)
• Write-off of equity investment		(2.1	) (3)		(0.01	)

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

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

2006 Second Quarter versus 2005 Second Quarter

     Fully taxable equivalent net interest income increased $21.3 million, or 9% ($3.6 million, or 1% merger-adjusted), from the year-ago quarter, reflecting the favorable impact of a $2.7 billion, or 9%, increase in average earning assets, as the fully taxable equivalent net interest margin declined two basis points to 3.34%. Average total loans and leases increased $1.7 billion, or 7%. On a merger-adjusted basis, average total loans and leases were essentially unchanged from the year-ago quarter. This primarily reflected growth in commercial loans, residential mortgages, and home equity loans, mostly offset by a decline in total average automobile loans and leases as the program to sell of a portion of that production continued.

     Average total commercial loans increased $1.2 billion, or 12% (4% merger-adjusted), from the year-ago quarter. The $1.2 billion growth reflected a $0.6 billion, or 11%, increase in average middle market C&I loans, a $0.5 billion, or 13%, increase in average commercial real estate loans, and a $0.2 billion, or 10%, increase in average small business loans.

     Average residential mortgages increased $0.5 billion, or 13% (3% merger-adjusted), and average home equity loans increased $0.2 billion, or 5% (<1% merger-adjusted).

     Compared with the year-ago quarter, average total automobile loans and leases decreased $0.4 billion, or 9%, with Unizan having no material impact. The decrease reflected the combination of two factors, (1) the continuation of historically low production levels over this period due to low consumer demand and competitive pricing, and (2) the sale of automobile loans as the company’s program of selling a portion of current loan production continued. Average operating lease assets declined $0.3 billion, or 63%, as this portfolio continued to run off. Total automobile loan and lease exposure at quarter end was 16%, down from 19% a year ago.

     Average total investment securities increased $1.1 billion from the 2005 second quarter, attributed in part to the securities purchased in the 2006 first quarter related to Unizan.

2006 Second Quarter versus 2006 First Quarter

     Compared with the 2006 first quarter, fully taxable equivalent net interest income increased $18.7 million, or 8% ($6.9 million, or 3% merger-adjusted). This reflected a 6% increase in average total earnings assets, the benefit of one additional day in the current quarter, as well as a two basis point increase in the net interest margin to 3.34% from 3.32%. The prior quarter’s net interest margin was negatively impacted by about 3 basis points in that period related to an adjustment for annual fees related to home equity loans.

     Average total loans and leases increased $1.3 billion, or 5%, from the 2006 first quarter, including a $1.1 billion positive impact from the Unizan merger.

     Average total commercial loans increased $0.8 billion, or 7% (3% merger-adjusted), from the 2006 first quarter. The $0.8 billion increase reflected a $0.3 billion, or 6%, increase in average middle market C&I loans, a $0.3 billion, or 16%, increase in average small business loans, and a $0.2 billion, or 4%, increase in average commercial real estate loans.

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     Average residential mortgages increased $0.3 billion, or 8% (1% merger-adjusted), and average home equity loans increased $0.2 billion, or 4% (1% merger-adjusted). The sluggish merger-adjusted growth in average residential mortgages and home equity loans reflected a decline in broker-originated activity, as well as credit underwriting and pricing discipline.

     Compared with the 2006 first quarter, average total automobile loans and leases declined 2%, with the Unizan merger having no material impact. The decline reflected a combination of factors including low demand for leases, as well as the company’s program of selling a portion of automobile loan and lease production. Average direct financing leases declined $0.1 billion, or 6%. Though direct financing lease production increased 47% from the prior quarter, the absolute level of production over the last several quarters has remained at historically low levels due to continued low consumer demand and competitive pricing. In contrast, average automobile loans increased 3%. Automobile loan production increased 12% from the prior quarter and represented the second highest level of quarterly production in the last nine quarters. Average operating lease assets declined slightly as this portfolio continued to run off.

     Average investment securities increased $0.4 billion from the 2006 first quarter, primarily merger-related.

Deposits

2006 Second Quarter versus 2005 Second Quarter

     Average total core deposits in the 2006 second quarter increased $1.9 billion, or 11%, from the year-ago quarter. Most of the $1.9 billion increase reflected a $1.7 billion increase in average certificates of deposit less than $100,000, with average non-interest bearing and interest bearing demand deposits up $0.2 billion and $0.1 billion, respectively. Average savings and other domestic time deposits declined $0.1 billion.

     On a merger-adjusted basis, average total core deposits increased $0.4 billion, or 2%, from the year-ago quarter, reflecting a $1.1 billion increase in average certificates of deposit less than $100,000, partially offset by a $0.6 billion decline in average savings and other domestic time deposits, and a $0.1 billion decline in average interest bearing demand deposits. This transfer of funds into certificates of deposit less than $100,000 and out of other deposit accounts reflected the continuation of customer preference for higher fixed rate term deposit accounts.

2006 Second Quarter versus 2006 First Quarter

     Average total core deposits in the 2006 second quarter increased $1.0 billion, or 5%, with most of the increase reflecting a $0.6 billion increase in average certificates of deposit less than $100,000. Average interest bearing and non-interest bearing demand deposits each increased $0.2 billion, or 3% and 5%, respectively. Average savings and other domestic time deposits were essentially flat.

     On a merger-adjusted basis, average total core deposits declined slightly, reflecting a $0.3 billion decrease in average savings and other domestic time deposits that was essentially offset by a $0.2 billion increase in certificates of deposit less than $100,000. This transfer of funds into certificates of deposit less than $100,000 and out of savings and other time deposits reflected the same factors impacting comparisons to the year-ago quarter noted above. Merger-adjusted

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average interest bearing and non-interest bearing demand deposits both increased slightly. Initiatives have been implemented targeted at growing these deposits.

Non-Interest Income

2006 Second Quarter versus 2005 Second Quarter

     Non-interest income increased $6.8 million, or 4%, from the year-ago quarter, despite a $23.2 million decline in operating lease income. That portfolio continued to run off since no automobile operating leases have been originated since April 2002. Non-interest income before operating lease income increased $30.1 million, or 25% ($7.2 million merger-related). The drivers of the $30.1 million increase included:

• $22.7 million increase ($0.3 million merger-related) in mortgage banking income, reflecting an $18.5 million positive impact of MSR valuation adjustments due to a $10.2 million MSR temporary impairment in the year-ago quarter before hedge-related trading activity, as well as higher secondary marketing income in the current quarter.

• $5.7 million, or 14%, increase in service charges on deposit accounts, reflecting a $4.7 million, or 18%, increase in personal service charges, primarily NSF/OD, and a $1.0 million, or 6%, increase in commercial service charge income. Of the $5.7 million reported increase, $1.6 million was merger-related, resulting in a 10% merger-adjusted increase.

• $3.6 million, or 19%, increase in trust services income, reflecting (1) a $2.0 million increase in higher personal trust income, mostly merger-related, as managed assets increased 19%, (2) a $0.9 million increase in Huntington Fund fees reflecting 17% managed asset growth, and (3) a $0.6 million increase in institutional trust income due to higher servicing fees with less than one-third of the growth being merger-related. Of the $3.6 million reported increase, $1.7 million was merger-related, resulting in a 10% merger-adjusted increase.

• $1.8 million, or 16%, increase in other service charges and fees, reflecting a $1.4 million, or 18%, increase in fees generated by higher debit card volume. Of the $1.8 million reported increase, $0.3 million was merger-related, resulting in a 13% merger-adjusted increase.

• $0.8 million, or 6%, increase in brokerage and insurance income, reflecting higher brokerage income including a $1.3 million, or 21%, increase in annuity fee income as annuity sales volume increased 16%. Of the $0.8 million reported increase, $0.5 million was merger-related, resulting in a 3% merger-adjusted increase.

Partially offset by:

• $5.6 million, or 22%, decline in other income, reflecting a $12.5 million negative impact in MSR hedge-related trading activities as the current quarter included a $6.7 million trading loss compared with a $5.7 million trading gain in the year-ago quarter. This negative impact was partially offset by a $3.0 million positive impact from equity investment gains, as well as a $2.1 million merger-related increase.

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Table 2 – Non-interest Income Analysis

	2Q06		Better/(Worse)					2Q05
(in millions)			Amount		Percent
Total non-interest income – reported	$	163.0	$	6.8		4	%	$	156.2
Less: Operating lease income		14.9							38.1
Sub-total – reported		148.2		30.1		25			118.1
Less: Unizan merger-related (1)		7.2							N/A
Total non-interest income – adjusted	$	141.0	$	22.9		19	%	$	118.1

(1) Estimated period impact

2006 Second Quarter versus 2006 First Quarter

     Non-interest income increased $3.5 million, or 2%, from the 2006 first quarter. However, excluding the impact of a $4.5 million decline in operating lease income as that portfolio continued to run off, non-interest income before operating lease income increased $8.0 million, or 6% ($4.8 million merger-related). Contributing to the $8.0 million increase were:

• $6.0 million, or 15%, increase in service charges on deposit accounts. This reflected a $4.7 million, or 18%, increase in personal service charges, primarily NSF/OD, and a $1.3 million, or 8%, increase in commercial service charges. Of the $6.0 million reported increase, $1.1 million was merger-related, resulting in a 12% merger-adjusted increase.

• $2.5 million, or 14%, increase in mortgage banking income, reflecting a $2.9 million increase in secondary marketing income. Of the $2.5 million reported increase, $0.2 million was merger-related, resulting in a 13% merger-adjusted increase.

• $1.6 million, or 14%, increase in other service charges and fees reflecting an increase in debit card fees. Of the $1.6 million reported increase, $0.2 million was merger-related, resulting in a 12% merger-adjusted increase.

• $1.4 million, or 7%, increase in trust services income, reflecting (1) $0.8 million increase in personal trust income, all merger-related, (2) $0.3 million increase in Huntington Fund fees due to 2% growth in managed assets, and (3) $0.2 million increase in institutional trust servicing fees, primarily merger-related. Of the $1.4 million reported increase, $1.1 million was merger-related, resulting in a 1% merger-adjusted increase.

Partially offset by:

• $3.0 million, or 14%, decline in other income, primarily reflecting the negative impact of a $2.1 million increase in MSR hedge-related trading losses, $1.5 million decline in other capital market-related income, and losses from low income housing tax credit investments in the current quarter, which were only partially offset by the benefit from a $1.4 million merger-related increase.

• $0.8 million, or 6%, decline in brokerage and insurance income despite a $0.3 million positive merger-related impact, due primarily to lower insurance income, reflecting lower sales of an automobile loan insurance product, as well as title insurance.

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Table 3 – Non-interest Income Analysis

	2Q06		Better/(Worse)					1Q06
(in millions)			Amount		Percent
Total non-interest income – reported	$	163.0	$	3.5		2	%	$	159.5
Less: Operating lease income		14.9							19.4
Sub-total – reported		148.2		8.0		6			140.1
Less: Unizan merger-related (1)		7.2							2.4
Total non-interest income – adjusted	$	141.0	$	3.2		2	%	$	137.8

(1) Estimated period impact

Non-Interest Expense

2006 Second Quarter versus 2005 Second Quarter

     Non-interest expense increased $4.2 million, or 2%, from the year-ago quarter, despite an $18.1 million decline in operating lease expense as that portfolio continued to run off. Non-interest expense before operating lease expense increased $22.3 million, or 10%, from the year-ago quarter, with $20.6 million attributable to Unizan ($18.0 merger-related plus $2.6 million of merger costs). The primary drivers of the $22.3 million increase were:

• $13.8 million, or 11%, increase in personnel expense with Unizan contributing $8.4 million of the increase ($7.7 million merger-related plus $0.7 million of merger costs), as well as $4.3 million due to the expensing of stock options, which began in 2006.

• $3.4 million, or 50%, higher marketing expense with Unizan contributing $0.9 million of the increase ($0.3 million merger-related plus $0.6 million of merger costs), due primarily to television commercial advertising, including up-front development costs.

• $2.8 million increase in the amortization of intangibles, all merger-related.

• $2.4 million, or 15%, increase in equipment expense with Unizan contributing $0.6 million of the increase ($0.5 million merger-related plus $0.1 million of merger costs), reflecting higher depreciation expense.

• $1.5 million, or 8%, increase in outside data processing and other services with Unizan contributing $1.2 million of the increase ($0.5 million merger-related plus $0.7 million of merger costs), reflecting higher appraisal and debit card processing expense.

Partially offset by:

• $3.1 million, or 33%, decline in professional services. Though Unizan added $1.6 million to current period expense ($1.5 million merger-related plus $0.1 million of merger costs), this was more than offset by lower consulting expense as the year-ago quarter included SEC and regulatory-related expenses, as well as other consulting costs.

     Discerning underlying non-interest expense performance requires adjusting reported non-interest expense so expenses in different periods can be analyzed on a comparable basis. Excluding operating lease expense is helpful because its decline may overstate the impact of expense control efforts. Conversely, the merger with Unizan, as well as the expensing of stock options that began in 2006, adds expenses that previously did not exist and may leave the opposite impression.

     Table 4 shows that when second quarter reported total non-interest expense is adjusted to

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exclude operating lease expense, stock option expense, Unizan expenses including the increase in intangible amortization resulting from the merger, as well as merger-related expenses, underlying non-interest expense decreased 1% from the year-ago quarter.

Table 4 – Non-interest Expense Analysis

	2Q06		Better/(Worse)						2Q05
(in millions)			Amount			Percent
Total non-interest expense – reported	$	252.4	$	(4.2	)		(2	)%	$	248.1
Less: Operating lease expense		10.8								28.9
Sub-total – reported		241.6		(22.3	)		(10	)		219.3
Less: Stock option expense		4.3								N/A
Unizan merger-related (1)		18.0								N/A
Unizan merger costs		2.6								N/A
Total non-interest expense – adjusted	$	216.7	$	2.6			1	%	$	219.3

(1) Includes estimated period impact plus increased intangible amortization

2006 Second Quarter versus 2006 First Quarter

     Non-interest expense increased $13.9 million, or 6%, from the 2006 first quarter despite a $3.8 million decline in operating lease expense as that portfolio continued to run off. Non-interest expense before operating lease expense increased $17.7 million, or 8%, with $13.6 million attributable to Unizan ($12.0 million merger-related and $1.6 million of merger-costs). The primary drivers of the $17.7 million increase included:

• $6.3 million, or 5%, increase in personnel costs with Unizan contributing $5.7 million of the increase ($5.2 million merger-related plus $0.5 million of merger costs).

• $3.4 million, or 21%, increase in other expense with Unizan contributing $2.1 million of the increase ($2.0 million merger-related plus $0.1 million of merger costs).

• $3.1 million, or 42%, higher marketing expense with Unizan contributing $0.6 million of the increase ($0.2 million merger-related plus $0.4 million of merger costs), due to television commercial costs (see above).

• $1.9 million increase in amortization of intangibles, all merger-related.

• $1.5 million, or 9%, increase in equipment expense with Unizan contributing $0.4 million of the increase ($0.3 million merger-related plus $0.1 million of merger costs), reflecting higher depreciation expense associated with the upgrade of a number of operating and administrative systems.

     Table 5 shows that when 2006 first and second quarter reported total non-interest expense is adjusted to exclude operating lease expense and Unizan merger-related expenses, including the increase in intangible amortization resulting from current-period merger-related expenses, non-interest expense increased 2% from the 2006 first quarter.

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Table 5 – Non-interest Expense Analysis

	2Q06		Better/(Worse)						1Q06
(in millions)			Amount			Percent
Total non-interest expense – reported	$	252.4	$	(13.9	)		(6	)%	$	238.4
Less: Operating lease expense		10.8								14.6
Sub-total – reported		241.6		(17.7	)		(8	)		223.8
Less: Unizan merger-related (1)		18.0								5.9
Unizan merger costs		2.6								1.0
Total non-interest expense – adjusted	$	221.0	$	(4.1	)		(2	)%	$	216.9

(1) Includes estimated period impact plus increased intangible amortization

Operating Leverage

     Reported total revenues in the 2006 second quarter increased 7% from the year-ago quarter with reported total non-interest expense increasing 2%, resulting in reported positive operating leverage of 5%. This overstates operating leverage performance between these two periods because of the impact of operating lease accounting and other large items that affect comparability (see Table 6). After adjusting for operating lease accounting and such items, adjusted total revenue grew 12% with adjusted total expenses increasing at 10%, resulting in positive 2% operating leverage.

Table 6 — Operating Leverage Analysis

							Better /(Worse)
(in millions)	2Q06			2Q05			Amount			Percent
Revenue FTE – Reported (1)	$	429.2		$	401.0		$	28.2			7.0	%
• Operating lease expense		(10.8	)		(28.9	)
• Securities losses (gains)		—			0.3
Revenue FTE – Adjusted	$	418.4		$	372.5		$	45.9			12.3	%
Non-interest expense – Reported	$	252.4		$	248.1		$	4.3			1.7	%
• Operating lease expense		(10.8	)		(28.9	)
• Amortization of intangibles		(3.0	)		(0.2	)
• Unizan merger costs		(2.6	)		—
• SEC/Regulatory expenses		—			(1.7	)
• Severance and consolidation expenses		—			(3.6	)
Non-interest expense – Adjusted	$	235.9		$	213.8		$	(22.1	)		(10.3	)%
Operating leverage – Reported											5.3	%
Operating leverage – Adjusted											2.0	%
Efficiency ratio (2) – Reported		58.1	%		61.8	%
Efficiency ratio (2) – Adjusted		56.4	%		57.4	%

(1)	Fully taxable equivalent net interest income + non-interest income
(2)	Non-interest expense less amortization of intangibles, divided by net interest income (FTE) and non-interest income excluding securities gains (losses)

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Income Taxes

     The company’s effective tax rate was 29.0% in the 2006 second quarter, up from 22.3% in the year-ago quarter, and 28.1% in the 2006 first quarter. As previously disclosed, the effective tax rate in each quarter of 2005 included the positive impact on net income due to a federal tax loss carry back.

Credit Quality

     Total net charge-offs for the 2006 second quarter were $14.0 million, or an annualized 0.21% of average total loans and leases. This was down from $16.3 million, or an annualized 0.27%, in the year-ago quarter. It was also down from $24.2 million, or an annualized 0.39%, of average total loans and leases in the 2006 first quarter, with 11 basis points of the decrease in the net charge-off ratio, or $6.5 million, related to the 2006 first quarter resolution of certain commercial loans that were classified as NPLs. Reserves were established for these commercial loans in the 2005 fourth quarter.

     Total commercial net charge-offs in the second quarter were $3.4 million, or an annualized 0.12%, down $2.1 million from $5.6 million, or an annualized 0.21%, in the year-ago quarter. Compared with the 2006 first quarter, current period total commercial net charge-offs decreased $7.1 million, reflecting the resolution of $6.5 million of loans classified as NPLs in the 2005 fourth quarter noted above.

     Total consumer net charge-offs in the current quarter were $10.5 million, or an annualized 0.30% of average related loans, down slightly from $10.7 million, or 0.31%, in the year-ago quarter. Compared with the 2006 first quarter, total consumer net charge-offs decreased $3.1 million from $13.7 million, or an annualized 0.40% of average related loans.

     NPAs were $171.1 million at June 30, 2006, and represented 0.65% of related assets, up $73.7 million from $97.4 million, or 0.40% of related assets, at the end of the year-ago quarter, and up $16.2 million from $154.9 million, or 0.59% of related assets, at March 31, 2006. The increase from March 31, 2006, reflected a $16.4 million increase in other real estate owned (OREO) and included $12.6 million due to a reclassification of foreclosed mortgage loans fully guaranteed by the U.S. government from over 90-day delinquent but still accruing loans. Huntington services mortgage loans for GNMA. When loans sold to GNMA become 120 days delinquent, Huntington may repurchase them and begin foreclosure. In accordance with FAS 140, such loans that are eligible for repurchase are recorded as loans on the balance sheet. When those loans are foreclosed, such loans are then recorded as OREO. This change in the reporting for GNMA-guaranteed OREO also accounted for the $12.5 million increase in total NPAs guaranteed by the U.S. government from the end of the 2006 first quarter to $30.7 million from $18.3 million at March 31, 2006.

     NPLs, which exclude OREO, increased $51.4 million from the year-earlier period to $135.3 million at June 30, 2006, with $32.8 million representing NPLs acquired in the Unizan merger. NPLs declined slightly from March 31, 2006. NPLs expressed as a percent of total loans and leases were 0.51% at June 30, 2006, up from 0.34% a year earlier, but down slightly from 0.52% at March 31, 2006.

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     The over 90-day delinquent but still accruing, ratio was 0.19% at June 30, 2006, down from 0.22% at the end of the year-ago quarter, and from 0.20% at March 31, 2006, with these declines reflecting the reclassification of GNMA-guaranteed foreclosed OREO noted above. Over the last five quarters, the 90-day delinquency ratio has been relatively stable and remained at a low relative level compared with the last five-year period.

Allowances for Credit Losses (ACL) and Loan Loss Provision

     We maintain 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, 2006, ALLL was $287.5 million, $32.7 million higher than $254.8 million a year earlier, and $3.7 million higher than $283.8 million at March 31, 2006. Expressed as a percent of period-end loans and leases, the ALLL ratio at June 30, 2006, was 1.09%, up from 1.04% a year ago, but unchanged from March 31, 2006. Table 7 shows the change in the ALLL ratio and each reserve component for the 2006 first and second quarters, as well as the 2005 second quarter.

Table 7 – Components of ALLL as Percent of Total Loans and Leases

										2Q06 change from
	2Q06			1Q06			2Q05			1Q06			2Q05
Transaction reserve (1)		0.89	%		0.88	%		0.82	%		0.01	%		0.07	%
Economic reserve		0.20			0.21			0.22			(0.01	)		(0.02	)
Total ALLL		1.09	%		1.09	%		1.04	%		—	%		0.05	%

(1) Includes specific reserve

     The ALLL as a percent of NPLs was 213% at June 30, 2006, down from 304% a year ago, but up from 209% at March 31, 2006. The ALLL as a percent of NPAs was 168% at June 30, 2006, down from 262% a year ago, and from 183% at March 31, 2006.

     At June 30, 2006, the AULC was $38.9 million, up from $37.5 million at the end of the year-ago quarter, but down slightly from March 31, 2006.

     On a combined basis, the ACL as a percent of total loans and leases at June 30, 2006, was 1.24%, up from 1.19% a year ago, but unchanged from March 31, 2006. The ACL as a percent of NPAs was 191% at June 30, 2006, down from 300% a year earlier and 209% at March 31, 2006.

     The provision for credit losses in the 2006 second quarter was $15.7 million, and exceeded net charge-offs by $1.8 million. The current quarter provision for credit losses was up $2.9 million from the year-ago quarter, but was down $3.8 million from the 2006 first quarter.

Capital

     At June 30, 2006, the tangible equity to assets ratio was 6.46%, down from 7.36% a year ago and from 6.97% at March 31, 2006. At June 30, 2006, the tangible equity to risk-weighted assets

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ratio was 7.29%, down from 8.05% at the end of the year-ago quarter and from 7.80% at March 31, 2006. The decrease in the tangible equity to assets ratio from the year-ago period reflected approximately two basis points related to the issuance of capital for the Unizan merger, as well as 138 basis points, due to the impact of share repurchases. The decrease in the tangible equity to assets ratio from March 31, 2006 reflected approximately 53 basis points related to the impact of the share repurchases.

     During the quarter, 8.1 million shares of common stock were repurchased in the open market, leaving 6.9 million shares available for purchase under the 15 million share repurchase authorization announced April 20, 2006.

2006 OUTLOOK

     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.

     Below is a list of more specific 2006 full-year performance assumptions, none of which have changed from prior guidance in April 2006:

• Revenue growth in the low- to mid-single digits ⁽¹⁾

• Relatively stable net interest margin comparable to the 2006 second quarter level.

• Expense growth in the low-single digit range ⁽¹⁾

• Revenue that grows faster than expenses, resulting in positive operating leverage and continued improvement in the reported efficiency ratio ⁽¹⁾

• A net charge-off ratio slightly below, or at, the lower end of the company’s 0.35%-0.45% targeted range

• Relatively stable NPA and allowance for loan and lease loss ratios from levels at June 30, 2006.

⁽¹⁾ Excluding operating lease accounting impact.

     Within this type of environment, and given actual six-month 2006 GAAP earnings of $0.90 per share, targeted full-year 2006 GAAP earnings is being narrowed to $1.80-$1.83 per share.

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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 800-223-1238; conference ID 1973909. 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, 2006 at 800-642-1687; conference ID 1973909.

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 “Risk Factors” included in Item 1A of Huntington’s Annual Report on Form 10-K for the year ended December 31, 2005, 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 comparable GAAP financial measure, can be found in this release or in the Quarterly Financial Review supplement to this earnings release, which can be found on Huntington’s website at huntington-ir.com.

Estimating the Impact on Balance Sheet and Income Statement Results Due to the Unizan Merger

     The merger with Unizan Financial Corp. (Unizan) was completed on March 1, 2006. At the time of acquisition, Unizan had assets of $2.5 billion, including $1.6 billion of loans, and core deposits of $1.5 billion. When comparing post-merger period results to pre-merger periods, the term “merger-adjusted” refers to amounts and percentage changes that represent reported results adjusted to exclude the impact of the merger. The term “merger-related” refers to amounts and percentage changes representing the impact attributable to the merger. “Merger costs” represent expenses associated with merger integration activities. Management believes these distinctions are helpful in better discerning underlying growth rates and in analyzing performance trends compared to prior periods. The following methodology has been implemented to estimate the approximate effect of the Unizan merger used to determine “merger-adjusted” and “merger-related” impacts.

     Balance Sheet Items

     For loans and leases, as well as core deposits, balances as of the acquisition date are pro-rated to the post-merger period being used in the comparison. For example, to estimate the impact on 2006 first quarter average balances, one-third of the closing date balance was used as those balances were in reported results for only one month of the quarter. Full quarter and year-to-date estimated impacts were developed using this same pro-rata methodology. This methodology assumes acquired balances will remain constant over time.

     The following tables reconcile selected GAAP/reported results to results adjusted for the impact of the Unizan merger using this methodology:

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2006 Second Quarter versus 2005 Second Quarter

Table 8

			Change
Averages (in millions)	2Q06		Amount		Percent			2Q05
Total loans and leases – reported	$	26,201	$	1,743		7.1	%	$	24,458
Less: Unizan merger-related		1,663							N/A
Total loans and leases – adjusted	$	24,538	$	80		0.3	%	$	24,458
Total commercial loans – reported	$	11,956	$	1,242		11.6	%	$	10,714
Less: Unizan merger-related		793							N/A
Commercial loans – adjusted	$	11,163	$	449		4.2	%	$	10,714
Home equity loans – reported	$	4,872	$	236		5.1	%	$	4,636
Less: Unizan merger-related		223							N/A
Home equity loans – adjusted	$	4,649	$	13		0.3	%	$	4,636
Residential mortgages – reported	$	4,629	$	549		13.5	%	$	4,080
Less: Unizan merger-related		409							N/A
Residential mortgages – adjusted	$	4,220	$	140		3.4	%	$	4,080
Total core deposits – reported	$	18,908	$	1,929		11.4	%	$	16,979
Less: Unizan merger-related		1,547							N/A
Total core deposits – adjusted	$	17,361	$	382		2.3	%	$	16,979

2006 Second Quarter versus 2006 First Quarter

Table 9

			Change
									Percent
Averages (in millions)	2Q06		Amount			Percent			Annualized			1Q06
Total loans and leases – reported	$	26,201	$	1,271			5.1	%		20.4	%	$	24,931
Less: Unizan merger-related		1,663											554
Total loans and leases – adjusted	$	24,538	$	161			0.7	%		2.6	%	$	24,377
Total commercial loans – reported	$	11,956	$	826			7.4	%		29.7	%	$	11,130
Less: Unizan merger-related		793											264
Commercial loans – adjusted	$	11,163	$	297			2.7	%		10.9	%	$	10,866
Home equity loans – reported	$	4,872	$	178			3.8	%		15.2	%	$	4,694
Less: Unizan merger-related		223											74
Home equity loans – adjusted	$	4,649	$	29			0.6	%		2.5	%	$	4,620
Residential mortgages – reported	$	4,629	$	323			7.5	%		30.0	%	$	4,306
Less: Unizan merger-related		409											136
Residential mortgages – adjusted	$	4,220	$	50			1.2	%		4.8	%	$	4,170
Total core deposits – reported	$	18,908	$	966			5.4	%		21.5	%	$	17,942
Less: Unizan merger-related		1,547											516
Total core deposits – adjusted	$	17,361	$	(65	)		(0.4	)%		(1.5	)%	$	17,426

     Income Statement Items

     For income statement line items, Unizan’s actual full year results for 2005 were used for pro-rating the impact on post-merger periods. For example, to estimate the 2006 first quarter impact of the merger on personnel costs, one-twelfth of Unizan’s full-year 2005 personnel costs was used. Full quarter and year-to-date estimated impacts were developed using this same pro-rata methodology. This results in an approximate impact since the methodology does not adjust for any unusual items or seasonal factors in Unizan 2005 reported results. The one exception to this methodology relates to the amortization of intangibles expense where the actual post-merger amount was used.

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     The following tables reconcile selected GAAP/reported results to results adjusted for the impact of the Unizan merger using this methodology:

2006 Second Quarter versus 2005 Second Quarter

Table 10

			Change
(in millions)	2Q06		Amount			Percent			2Q05
Net-interest Income
Net interest income (FTE) – reported	$	266,179	$	21,318			8.7	%	$	244,861
Less: Unizan merger-related		17,694								N/A
Net interest income (FTE) – adjusted	$	248,485	$	3,624			1.5	%	$	244,861
Non-interest Income
Total non-interest income before operating lease income – reported	$	148,168	$	30,095			25.5	%	$	118,073
Less: Unizan merger-related		7,177								N/A
Total non-interest income before operating lease income – adjusted	$	140,991	$	22,918			19.4	%	$	118,073
Service charges on deposit accounts – reported	$	47,225	$	5,709			13.8	%	$	41,516
Less: Unizan merger-related		1,577								N/A
Service charges on deposit accounts – adjusted	$	45,648	$	4,132			10.0	%	$	41,516
Trust services – reported	$	22,676	$	3,563			18.6	%	$	19,113
Less: Unizan merger-related		1,654								N/A
Trust services – adjusted	$	21,022	$	1,909			10.0	%	$	19,113
Brokerage and insurance – reported	$	14,345	$	801			5.9	%	$	13,544
Less: Unizan merger-related		457								N/A
Brokerage and insurance – adjusted	$	13,888	$	344			2.5	%	$	13,544
Other service charges and fees – reported	$	13,072	$	1,820			16.2	%	$	11,252
Less: Unizan merger-related		310								N/A
Other service charges and fees – adjusted	$	12,762	$	1,510			13.4	%	$	11,252
Mortgage banking – reported	$	20,355	$	22,731			N.M.		$	(2,376	)
Less: Unizan merger-related		257								N/A
Mortgage banking – adjusted	$	20,098	$	22,474			N.M.		$	(2,376	)
Other – reported	$	19,394	$	(5,580	)		(22.3	)%	$	24,974
Less: Unizan merger-related		2,137								N/A
Other – adjusted	$	17,257	$	(7,717	)		(30.9	)%	$	24,974
Non-interest Expense
Total non-interest expense before operating lease expense – reported	$	241,555	$	22,298			10.2	%	$	219,257
Less: Unizan merger-related		17,955								N/A
Unizan merger costs		2,637								N/A
Total non-interest expense before operating lease expense – adjusted	$	220,963	$	1,706			0.8	%	$	219,257
Personnel costs – reported	$	137,904	$	13,814			11.1	%	$	124,090
Less: Unizan merger-related		7,726								N/A
Unizan merger costs		706								N/A
Personnel costs – adjusted	$	129,472	$	5,382			4.3	%	$	124,090

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Table 10 (cont’d)

			Change
(in millions)	2Q06		Amount			Percent			2Q05
Net occupancy – reported	$	17,927	$	670			3.9	%	$	17,257
Less: Unizan merger-related		1,291								N/A
Unizan merger costs		260								N/A
Net occupancy – adjusted	$	16,376	$	(881	)		(5.1	)%	$	17,257
Outside data processing and other services – reported	$	19,569	$	1,456			8.0	%	$	18,113
Less: Unizan merger-related		501								N/A
Unizan merger costs		691								N/A
Outside data processing and other services – adjusted	$	18,377	$	264			1.5	%	$	18,113
Equipment– reported	$	18,009	$	2,372			15.2	%	$	15,637
Less: Unizan merger-related		516								N/A
Unizan merger costs		40								N/A
Equipment – adjusted	$	17,453	$	1,816			11.6	%	$	15,637
Professional services – reported	$	6,292	$	(3,055	)		(32.7	)%	$	9,347
Less: Unizan merger-related		1,473								N/A
Unizan merger costs		89								N/A
Professional services – adjusted	$	4,730	$	(4,617	)		(49.4	)%	$	9,347
Marketing – reported	$	10,374	$	3,440			49.6	%	$	6,934
Less: Unizan merger-related		267								N/A
Unizan merger costs		588								N/A
Marketing – adjusted	$	9,519	$	2,585			37.3	%	$	6,934
Other – reported	$	19,734	$	153			0.8	%	$	19,581
Less: Unizan merger-related		3,028								N/A
Unizan merger costs		38								N/A
Other – adjusted	$	16,668	$	(2,913	)		(14.9	)%	$	19,581

2006 Second Quarter versus 2006 First Quarter

Table 11

			Change
(in millions)	2Q06		Amount			Percent			1Q06
Net-interest Income
Net interest income (FTE) – reported	$	266,179	$	18,663			7.5	%	$	247,516
Less: Unizan merger-related		17,694								5,898
Net interest income (FTE) – adjusted	$	248,485	$	6,867			2.8	%	$	241,618
Non-interest Income
Total non-interest income before operating lease income – reported	$	148,168	$	8,024			5.7	%	$	140,144
Less: Unizan merger-related		7,177								2,392
Total non-interest income before operating lease income – adjusted	$	140,991	$	3,239			2.4	%	$	137,752
Service charges on deposit accounts – reported	$	47,225	$	6,003			14.6	%	$	41,222
Less: Unizan merger-related		1,577								526
Service charges on deposit accounts – adjusted	$	45,648	$	4,952			12.2	%	$	40,696
Trust services – reported	$	22,676	$	1,398			6.6	%	$	21,278
Less: Unizan merger-related		1,654								551
Trust services – adjusted	$	21,022	$	295			1.4	%	$	20,727
Brokerage and insurance – reported	$	14,345	$	(848	)		(5.6	)%	$	15,193
Less: Unizan merger-related		457								152
Brokerage and insurance – adjusted	$	13,888	$	(1,153	)		(7.7	)%	$	15,041

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Table 11 (cont’d)

			Change
(in millions)	2Q06		Amount			Percent			1Q06
Other service charges and fees – reported	$	13,072	$	1,563			13.6	%	$	11,509
Less: Unizan merger-related		310								103
Other service charges and fees – adjusted	$	12,762	$	1,356			11.9	%	$	11,406
Mortgage banking – reported	$	20,355	$	2,523			14.1	%	$	17,832
Less: Unizan merger-related		257								86
Mortgage banking – adjusted	$	20,098	$	2,352			13.3	%	$	17,746
Other – reported	$	19,394	$	(3,046	)		(13.6	)%	$	22,440
Less: Unizan merger-related		2,137								712
Other – adjusted	$	17,257	$	(4,471	)		(20.6	)%	$	21,728
Non-interest Expense
Total non-interest expense before operating lease expense – reported	$	241,555	$	17,747			7.9	%	$	223,808
Less: Unizan merger-related		17,955								5,923
Unizan merger costs		2,637								1,013
Total non-interest expense before operating lease expense – adjusted	$	220,963	$	4,091			1.9	%	$	216,872
Personnel costs – reported	$	137,904	$	6,347			4.8	%	$	131,557
Less: Unizan merger-related		7,726								2,575
Unizan merger costs		706								202
Personnel costs – adjusted	$	129,472	$	692			0.5	%	$	128,780
Net occupancy – reported	$	17,927	$	(39	)		(0.2	)%	$	17,966
Less: Unizan merger-related		1,291								430
Unizan merger costs		260								—
Net occupancy – adjusted	$	16,376	$	(1,160	)		(6.6	)%	$	17,536
Outside data processing and other services – reported	$	19,569	$	(282	)		(1.4	)%	$	19,851
Less: Unizan merger-related		501								167
Unizan merger costs		691								646
Outside data processing and other services – adjusted	$	18,377	$	(661	)		(3.5	)%	$	19,038
Equipment– reported	$	18,009	$	1,506			9.1	%	$	16,503
Less: Unizan merger-related		516								172
Unizan merger costs		40								5
Equipment – adjusted	$	17,453	$	1,126			6.9	%	$	16,326
Professional services – reported	$	6,292	$	927			17.3	%	$	5,365
Less: Unizan merger-related		1,473								491
Unizan merger costs		89								13
Professional services – adjusted	$	4,730	$	(131	)		(2.7	)%	$	4,861
Marketing – reported	$	10,374	$	3,073			42.1	%	$	7,301
Less: Unizan merger-related		267								89
Unizan merger costs		588								146
Marketing – adjusted	$	9,519	$	2,453			34.7	%	$	7,066
Other – reported	$	19,734	$	3,443			21.1	%	$	16,291
Less: Unizan merger-related		3,028								1,009
Unizan merger costs		38								—
Other – adjusted	$	16,668	$	1,386			9.1	%	$	15,285

- 18 -

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 $36 billion regional bank holding company headquartered in Columbus, Ohio. Through its affiliated companies, Huntington has more than 140 years of serving the financial needs of its customers. Huntington provides innovative retail and commercial financial products and services through over 375 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 over 1,000 ATMs. Selected financial service activities are also conducted in other states including: Dealer Sales offices in Arizona, Florida, Georgia, North Carolina, Pennsylvania, South Carolina, and Tennessee; 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.

###

- 19 -

HUNTINGTON BANCSHARES INCORPORATED
Quarterly Key Statistics
(Unaudited)

	2006						2005			Percent Changes vs.
(in thousands, except per share amounts)	Second			First			Second			1Q06			2Q05
Net interest income	$	262,195		$	243,680		$	241,900			7.6	%		8.4	%
Provision for credit losses		15,745			19,540			12,895			(19.4	)		22.1
Non-interest income		163,019			159,534			156,170			2.2			4.4
Non-interest expense		252,359			238,415			248,136			5.8			1.7
Income before income taxes		157,110			145,259			137,039			8.2			14.6
Provision for income taxes		45,506			40,803			30,614			11.5			48.6
Net Income	$	111,604		$	104,456		$	106,425			6.8	%		4.9	%
Net income per common share — diluted	$	0.46		$	0.45		$	0.45			2.2	%		2.2	%
Cash dividends declared per common share		0.250			0.250			0.215			—			16.3
Book value per common share at end of period		12.38			12.56			11.40			(1.4	)		8.6
Tangible book value per common share at end of period		9.70			9.95			10.45			(2.5	)		(7.2	)
Average common shares — basic		241,729			230,968			232,217			4.7			4.1
Average common shares — diluted		244,538			234,363			235,671			4.3			3.8
Return on average assets		1.25	%		1.26	%		1.31	%
Return on average shareholders’ equity		14.9			15.5			16.3
Net interest margin (1)		3.34			3.32			3.36
Efficiency ratio (2)		58.1			58.3			61.8
Effective tax rate		29.0			28.1			22.3
Average loans and leases	$	26,201,420		$	24,931,138		$	24,457,747			5.1			7.1
Average loans and leases — linked quarter annualized growth rate.		20.4	%		7.6	%		10.1	%
Average earning assets	$	31,984,715		$	30,206,257		$	29,248,535			5.9			9.4
Average total assets		35,690,312			33,488,628			32,619,845			6.6			9.4
Average core deposits (3)		18,907,918			17,942,442			16,979,208			5.4			11.4
Average core deposits — linked quarter annualized growth rate (3)		21.5	%		13.8	%		(1.7	)%
Average shareholders’ equity	$	2,995,043		$	2,729,188		$	2,618,579			9.7			14.4
Total assets at end of period		36,265,777			35,665,909			32,988,974			1.7			9.9
Total shareholders’ equity at end of period		2,939,156			3,080,180			2,630,775			(4.6	)		11.7
Net charge-offs (NCOs)		13,952			24,216			16,264			(42.4	)		(14.2	)
NCOs as a % of average loans and leases		0.21	%		0.39	%		0.27	%
Non-performing loans and leases (NPLs)	$	135,263		$	135,509		$	83,860			(0.2	)		61.3
Non-performing assets (NPAs)		171,068			154,893			97,418			10.4			75.6
NPAs as a % of total loans and leases and other real estate (OREO)		0.65	%		0.59	%		0.40	%
Allowance for loan and lease losses (ALLL) as a % of total loans and leases at the end of period		1.09			1.09			1.04
ALLL plus allowance for unfunded loan commitments and letters of credit as a % of total loans and leases at the end of period		1.24			1.24			1.19
ALLL as a % of NPLs		213			209			304
ALLL as a % of NPAs		168			183			262
Tier 1 risk-based capital ratio (4)		8.45			8.94			9.18
Total risk-based capital ratio (4)		11.51			12.12			12.39
Tier 1 leverage ratio (4)		7.62			8.53			8.50
Average equity / assets		8.39			8.15			8.03
Tangible equity / assets (5)		6.46			6.97			7.36

(1)	On a fully taxable equivalent (FTE) basis assuming a 35% tax rate.
(2)	Non-interest expense less amortization of intangibles ($3.0 million for 2Q 2006, $1.1 million for 1Q 2006 and $0.2 million for 2Q 2005) 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 certificates of deposit less than $100,000.
(4)	June 30, 2006 figures are estimated.
(5)	At end of period. Tangible equity (total equity less intangible assets) divided by tangible assets (total assets less intangible assets).

- 20 -

HUNTINGTON BANCSHARES INCORPORATED
Year To Date Key Statistics
(Unaudited)

	Six Months Ended June 30,						Change
(in thousands, except per share amounts)	2006			2005			Amount			Percent
Net interest income	$	505,875		$	477,098		$	28,777			6.0	%
Provision for credit losses		35,285			32,769			2,516			7.7
Non-interest income		322,553			324,220			(1,667	)		(0.5	)
Non-interest expense		490,774			506,413			(15,639	)		(3.1	)
Income before income taxes		302,369			262,136			40,233			15.3
Provision for income taxes		86,309			59,192			27,117			45.8
Net Income	$	216,060		$	202,944		$	13,116			6.5	%
Net Income per common share — diluted	$	0.90		$	0.86		$	0.04			4.7	%
Cash dividends declared per common share		0.500			0.415			0.09			20.5
Average common shares — basic		236,349			232,021			4,328			1.9
Average common shares — diluted		239,451			235,362			4,089			1.7
Return on average assets		1.26	%		1.26	%
Return on average shareholders’ equity		15.2			15.9
Net interest margin (1)		3.33			3.34
Efficiency ratio (2)		58.2			62.7
Effective tax rate		28.5			22.6
Average loans and leases	$	25,574,429		$	24,158,775		$	1,415,654			5.9
Average earning assets		31,105,040			29,188,614			1,916,427			6.6
Average total assets		34,600,193			32,600,549			1,999,644			6.1
Average core deposits (3)		18,427,847			17,014,890			1,412,956			8.3
Average shareholders’ equity		2,862,850			2,573,126			289,724			11.3
Net charge-offs (NCOs)		38,168			44,536			(6,368	)		(14.3	)
NCOs as a % of average loans and leases		0.30	%		0.37	%

(1)	On a fully taxable equivalent (FTE) basis assuming a 35% tax rate.
(2)	Non-interest expense less amortization of intangibles ($4.1 million for 2006 and $0.8 million for 2005) 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 certificates of deposit less than $100,000.

- 21 -

EX-99.2

Exhibit 99.2

HUNTINGTON BANCSHARES INCORPORATED
Quarterly Financial Review
June 2006

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 Mortgage Banking Income and Net Impact of MSR Hedging	8
Quarterly Credit Reserves Analysis	9
Quarterly Net Charge-Off Analysis	10
Quarterly Non-Performing Assets and Past Due Loans and Leases	11
Quarterly Stock Summary, Capital, and Other Data	12
Quarterly Operating Lease Performance	13
Consolidated Year To Date Average Balance Sheets	14
Consolidated Year To Date Net Interest Margin Analysis	15
Selected Year To Date Income Statement Data	16
Year To Date Mortgage Banking Income and Net Impact of MSR Hedging	17
Year To Date Credit Reserves Analysis	18
Year To Date Net Charge-Off Analysis	19
Year To Date Non-Performing Assets and Past Due Loans and Leases	20
Year To Date Operating Lease Performance	21

Note:

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

Huntington Bancshares Incorporated
Consolidated Balance Sheets

										Change
	2006			2005						June ’06 vs ’05
(in thousands, except number of shares)	June 30,			December 31,			June 30,			Amount			Percent
	(Unaudited)						(Unaudited)
Assets
Cash and due from banks	$	876,121		$	966,445		$	976,432		$	(100,311	)		(10.3)	%
Federal funds sold and securities purchased under resale agreements		365,592			74,331			121,310			244,282			N.M.
Interest bearing deposits in banks		37,576			22,391			22,758			14,818			65.1
Trading account securities		113,376			8,619			328,715			(215,339	)		(65.5	)
Loans held for sale		298,871			294,344			395,053			(96,182	)		(24.3	)
Investment securities		5,124,682			4,526,520			3,849,955			1,274,727			33.1
Loans and leases (1)		26,354,581			24,472,166			24,567,148			1,787,433			7.3
Allowance for loan and lease losses		(287,517	)		(268,347	)		(254,784	)		(32,733	)		12.8
Net loans and leases		26,067,064			24,203,819			24,312,364			1,754,700			7.2
Operating lease assets		131,943			229,077			353,678			(221,735	)		(62.7	)
Bank owned life insurance		1,070,909			1,001,542			983,302			87,607			8.9
Premises and equipment		365,763			360,677			356,697			9,066			2.5
Goodwill		571,697			212,530			212,200			359,497			N.M.
Other intangible assets		64,141			4,956			5,376			58,765			N.M.
Accrued income and other assets		1,178,042			859,554			1,071,134			106,908			10.0
Total Assets	$	36,265,777		$	32,764,805		$	32,988,974		$	3,276,803			9.9	%
Liabilities and Shareholders’ Equity
Liabilities
Deposits(2)	$	24,592,932		$	22,409,675		$	22,330,576		$	2,262,356			10.1	%
Short-term borrowings		2,125,932			1,889,260			1,266,535			859,397			67.9
Federal Home Loan Bank advances		1,271,678			1,155,647			903,864			367,814			40.7
Other long-term debt		2,716,784			2,418,419			3,034,154			(317,370	)		(10.5	)
Subordinated notes		1,255,278			1,023,371			1,046,283			208,995			20.0
Allowance for unfunded loan commitments and letters of credit		38,914			36,957			37,511			1,403			3.7
Deferred federal income tax liability		615,543			743,655			784,504			(168,961	)		(21.5	)
Accrued expenses and other liabilities		709,560			530,320			954,772			(245,212	)		(25.7	)
Total Liabilities		33,326,621			30,207,304			30,358,199			2,968,422			9.8
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 237,361,333; 224,106,172 and 230,842,020 shares, respectively.		2,552,094			2,491,326			2,487,981			64,113			2.6
Less 20,504,922; 33,760,083 and 27,024,235 treasury shares, respectively		(457,758	)		(693,576	)		(526,814	)		69,056			(13.1	)
Accumulated other comprehensive loss		(44,091	)		(22,093	)		(720	)		(43,371	)		N.M.
Retained earnings		888,911			781,844			670,328			218,583			32.6
Total Shareholders’ Equity		2,939,156			2,557,501			2,630,775			308,381			11.7
Total Liabilities and Shareholders’ Equity	$	36,265,777		$	32,764,805		$	32,988,974		$	3,276,803			9.9	%

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
	2006				2005								June ’06 vs ’05
(in thousands)	June 30,				December 31,				June 30,				Amount			Percent
	(Unaudited)								(Unaudited)
By Type
Commercial:
Middle market commercial and industrial	$	5,595,454	21.1	%	$	5,084,244	20.6	%	$	4,883,354	19.6	%	$	712,100			14.6	%
Middle market commercial real estate:
Construction		1,173,454	4.4			1,521,897	6.2			1,684,299	6.8			(510,845	)		(30.3	)
Commercial		2,731,684	10.3			2,015,498	8.2			1,899,518	7.6			832,166			43.8
Middle market commercial real estate		3,905,138	14.7			3,537,395	14.4			3,583,817	14.4			321,321			9.0
Small business		2,531,176	9.6			2,223,740	9.1			2,258,097	9.1			273,079			12.1
Total commercial		12,031,768	45.4			10,845,379	44.1			10,725,268	43.1			1,306,500			12.2
Consumer:
Automobile loans		2,059,836	7.8			1,985,304	8.0			2,045,771	8.2			14,065			0.7
Automobile leases		2,042,215	7.7			2,289,015	9.3			2,458,432	9.9			(416,217	)		(16.9	)
Home equity		4,888,958	18.5			4,638,841	18.8			4,683,577	18.8			205,381			4.4
Residential mortgage		4,739,814	17.9			4,193,139	17.0			4,152,203	16.7			587,611			14.2
Other loans		591,990	2.2			520,488	1.9			501,897	1.9			90,093			18.0
Total consumer		14,322,813	54.1			13,626,787	55.0			13,841,880	55.5			480,933			3.5
Total loans and direct financing leases	$	26,354,581	99.5		$	24,472,166	99.1		$	24,567,148	98.6		$	1,787,433			7.3
Operating lease assets		131,943	0.5			229,077	0.9			353,678	1.4			(221,735	)		(62.7	)
Total credit exposure	$	26,486,524	100.0	%	$	24,701,243	100.0	%	$	24,920,826	100.0	%	$	1,565,698			6.3	%
Total automobile exposure (1)	$	4,233,994	16.0	%	$	4,503,396	18.2	%	$	4,857,881	19.5	%	$	(623,887	)		(12.8)	%
By Business Segment (2)
Regional Banking:
Central Ohio	$	3,598,342	13.6	%	$	3,150,394	12.8	%	$	3,154,443	12.7	%	$	443,899			14.1	%
Northern Ohio		2,660,450	10.0			2,522,854	10.2			2,533,670	10.2			126,780			5.0
Southern Ohio / Kentucky		2,195,013	8.3			2,037,190	8.2			2,100,446	8.4			94,567			4.5
Eastern Ohio		1,416,505	5.3			369,870	1.5			383,366	1.5			1,033,139			N.M.
West Michigan		2,397,525	9.1			2,363,162	9.6			2,386,311	9.6			11,214			0.5
East Michigan		1,597,741	6.0			1,573,413	6.4			1,495,277	6.0			102,464			6.9
West Virginia		1,053,464	4.0			970,953	3.9			918,612	3.7			134,852			14.7
Indiana		953,776	3.6			1,025,807	4.2			1,037,983	4.2			(84,207	)		(8.1	)
Mortgage and equipment leasing groups		3,637,546	13.8			3,533,535	14.2			3,447,249	13.8			190,297			5.5
Regional Banking		19,510,362	73.7			17,547,178	71.0			17,457,357	70.1			2,053,005			11.8
Dealer Sales (3)		5,167,300	19.5			5,429,997	22.0			5,761,321	23.1			(594,021	)		(10.3	)
Private Financial and Capital Markets Group		1,808,862	6.8			1,724,068	7.0			1,702,148	6.8			106,714			6.3
Treasury / Other		—	—			—	—			—	—			—			—
Total credit exposure	$	26,486,524	100.0	%	$	24,701,243	100.0	%	$	24,920,826	100.0	%	$	1,565,698			6.3	%

N.M., not a meaningful value.

⁽¹⁾ Sum of automobile loans and leases and automobile operating lease assets.

⁽²⁾ Prior period amounts have been reclassified to conform to the current period business segment structure.

⁽³⁾ Includes operating lease inventory.

2

Huntington Bancshares Incorporated
Deposit Composition

													Change
	2006				2005								June ’06 vs ’05
(in thousands)	June 30,				December 31,				June 30,				Amount			Percent
	(Unaudited)								(Unaudited)
By Type
Demand deposits — non-interest bearing	$	3,530,828	14.4	%	$	3,390,044	15.1	%	$	3,221,352	14.4	%	$	309,476			9.6	%
Demand deposits — interest bearing		7,702,311	31.3			7,380,044	32.9			7,674,807	34.4			27,504			0.4
Savings and other domestic time deposits		3,125,513	12.7			3,094,136	13.8			3,340,406	15.0			(214,893	)		(6.4	)
Certificates of deposit less than $100,000		4,527,148	18.4			3,526,039	15.7			3,032,957	13.6			1,494,191			49.3
Total core deposits		18,885,800	76.8			17,390,263	77.5			17,269,522	77.4			1,616,278			9.4
Domestic time deposits of $100,000 or more		1,755,416	7.1			1,348,928	6.0			1,177,271	5.3			578,145			49.1
Brokered deposits and negotiable CDs		3,475,032	14.1			3,199,796	14.3			3,451,967	15.5			23,065			0.7
Deposits in foreign offices		476,684	2.0			470,688	2.2			431,816	1.8			44,868			10.4
Total deposits	$	24,592,932	100.0	%	$	22,409,675	100.0	%	$	22,330,576	100.0	%	$	2,262,356			10.1	%
Total core deposits:
Commercial	$	5,906,817	31.3	%	$	5,352,053	30.8	%	$	5,399,412	31.3	%	$	507,405			9.4	%
Personal		12,978,983	68.7			12,038,210	69.2			11,870,110	68.7			1,108,873			9.3
Total core deposits	$	18,885,800	100.0	%	$	17,390,263	100.0	%	$	17,269,522	100.0	%	$	1,616,278			9.4	%
By Business Segment (1)
Regional Banking:
Central Ohio	$	4,753,677	19.3	%	$	4,520,594	20.2	%	$	4,629,282	20.7	%	$	124,395			2.7	%
Northern Ohio		3,536,794	14.4			3,498,463	15.6			3,430,984	15.4			105,810			3.1
Southern Ohio / Kentucky		2,226,385	9.1			1,951,322	8.7			1,823,359	8.2			403,026			22.1
Eastern Ohio		1,757,964	7.1			577,912	2.6			547,948	2.5			1,210,016			N.M.
West Michigan		2,798,498	11.4			2,790,787	12.5			2,592,896	11.6			205,602			7.9
East Michigan		2,259,497	9.2			2,263,898	10.1			2,231,589	10.0			27,908			1.3
West Virginia		1,512,351	6.1			1,463,592	6.5			1,412,285	6.3			100,066			7.1
Indiana		828,787	3.4			728,193	3.2			773,773	3.5			55,014			7.1
Mortgage and equipment leasing groups		165,807	0.7			161,866	0.7			183,744	0.8			(17,937	)		(9.8	)
Regional Banking		19,839,760	80.7			17,956,627	80.1			17,625,860	78.9			2,213,900			12.6
Dealer Sales		60,513	0.2			65,237	0.3			68,436	0.3			(7,923	)		(11.6	)
Private Financial and Capital Markets Group		1,217,627	5.0			1,179,915	5.3			1,176,313	5.3			41,314			3.5
Treasury / Other (2)		3,475,032	14.1			3,207,896	14.3			3,459,967	15.5			15,065			0.4
Total deposits	$	24,592,932	100.0	%	$	22,409,675	100.0	%	$	22,330,576	100.0	%	$	2,262,356			10.1	%

N.M., not a meaningful value.

⁽¹⁾ Prior period amounts have been reclassified to conform to the current period business segment structure.

⁽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	2006						2005									2Q06 vs 2Q05
(in millions)	Second			First			Fourth			Third			Second			Amount			Percent
Assets
Interest bearing deposits in banks	$	62		$	48		$	51		$	54		$	54		$	8			14.8	%
Trading account securities		100			66			119			274			236			(136	)		(57.6	)
Federal funds sold and securities purchased under resale agreements		285			201			103			142			225			60			26.7
Loans held for sale		287			274			361			427			276			11			4.0
Investment securities:
Taxable		4,494			4,138			3,802			3,523			3,589			905			25.2
Tax-exempt		556			548			540			537			411			145			35.3
Total investment securities		5,050			4,686			4,342			4,060			4,000			1,050			26.3
Loans and leases: (1)
Commercial: (2)
Middle market commercial and industrial		5,458			5,132			4,946			4,708			4,901			557			11.4
Middle market commercial real estate:
Construction		1,243			1,454			1,675			1,720			1,678			(435	)		(25.9	)
Commercial		2,799			2,423			1,923			1,922			1,905			894			46.9
Middle market commercial real estate		4,042			3,877			3,598			3,642			3,583			459			12.8
Small business		2,456			2,121			2,230			2,251			2,230			226			10.1
Total commercial		11,956			11,130			10,774			10,601			10,714			1,242			11.6
Consumer:
Automobile loans		2,044			1,994			2,018			2,078			2,069			(25	)		(1.2	)
Automobile leases		2,095			2,221			2,337			2,424			2,468			(373	)		(15.1	)
Automobile loans and leases		4,139			4,215			4,355			4,502			4,537			(398	)		(8.8	)
Home equity		4,872			4,694			4,653			4,681			4,636			236			5.1
Residential mortgage		4,629			4,306			4,165			4,157			4,080			549			13.5
Other loans		605			586			521			507			491			114			23.2
Total consumer		14,245			13,801			13,694			13,847			13,744			501			3.6
Total loans and leases		26,201			24,931			24,468			24,448			24,458			1,743			7.1
Allowance for loan and lease losses		(293	)		(283	)		(262	)		(256	)		(270	)		(23	)		(8.5	)
Net loans and leases		25,908			24,648			24,206			24,192			24,188			1,720			7.1
Total earning assets		31,985			30,206			29,444			29,405			29,249			2,736			9.4
Operating lease assets		152			200			245			309			409			(257	)		(62.8	)
Cash and due from banks		806			789			742			867			865			(59	)		(6.8	)
Intangible assets		638			362			218			217			218			420			N.M.
All other assets		2,402			2,215			2,227			2,197			2,149			253			11.8
Total Assets	$	35,690		$	33,489		$	32,614		$	32,739		$	32,620		$	3,070			9.4	%
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — non-interest bearing	$	3,594		$	3,436		$	3,444		$	3,406		$	3,352		$	242			7.2	%
Demand deposits — interest bearing		7,778			7,562			7,496			7,539			7,677			101			1.3
Savings and other domestic time deposits		3,106			3,095			2,984			3,095			3,230			(124	)		(3.8	)
Certificates of deposit less than $100,000		4,430			3,849			3,421			3,157			2,720			1,710			62.9
Total core deposits		18,908			17,942			17,345			17,197			16,979			1,929			11.4
Domestic time deposits of $100,000 or more		1,739			1,478			1,397			1,271			1,248			491			39.3
Brokered deposits and negotiable CDs		3,263			3,143			3,210			3,286			3,249			14			0.4
Deposits in foreign offices		474			465			490			462			434			40			9.2
Total deposits		24,384			23,028			22,442			22,216			21,910			2,474			11.3
Short-term borrowings		2,042			1,669			1,472			1,559			1,301			741			57.0
Federal Home Loan Bank advances		1,557			1,453			1,156			935			1,136			421			37.1
Subordinated notes and other long-term debt		3,428			3,346			3,687			3,960			4,100			(672	)		(16.4	)
Total interest bearing liabilities		27,817			26,060			25,313			25,264			25,095			2,722			10.8
All other liabilities		1,284			1,264			1,283			1,458			1,554			(270	)		(17.4	)
Shareholders’ equity		2,995			2,729			2,574			2,611			2,619			376			14.4
Total Liabilities and Shareholders’ Equity	$	35,690		$	33,489		$	32,614		$	32,739		$	32,620		$	3,070			9.4	%

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

⁽²⁾ The middle market C&I and CRE loan balances in the first quarter of 2006 contain Unizan loan balances that were subject to reclassification when these loans were converted to Huntington’s loan systems.

4

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

	Average Rates(2)
	2006						2005
Fully taxable equivalent basis (1)	Second			First			Fourth			Third			Second
Assets
Interest bearing deposits in banks		4.04	%		3.78	%		3.20	%		2.13	%		1.47	%
Trading account securities		5.56			4.49			4.53			3.95			3.94
Federal funds sold and securities purchased under resale agreements		4.75			4.30			3.78			3.41			2.76
Loans held for sale		6.23			5.92			5.68			5.43			6.04
Investment securities:
Taxable		5.32			5.00			4.70			4.37			4.13
Tax-exempt		6.83			6.71			6.77			6.62			6.76
Total investment securities		5.49			5.20			4.96			4.67			4.40
Loans and leases: (3)
Commercial:
Middle market commercial and industrial		7.26			6.80			6.28			5.87			5.65
Middle market commercial real estate:
Construction		8.01			7.55			7.27			6.58			6.04
Commercial		7.26			6.78			6.46			5.96			5.53
Middle market commercial real estate		7.49			7.07			6.84			6.25			5.77
Small business		7.10			6.67			6.43			6.18			6.01
Total commercial		7.30			6.87			6.50			6.07			5.76
Consumer:
Automobile loans		6.48			6.40			6.26			6.44			6.57
Automobile leases		5.01			4.97			4.98			4.94			4.91
Automobile loans and leases		5.74			5.65			5.57			5.63			5.67
Home equity		7.72			7.10			7.03			6.60			6.24
Residential mortgage		5.39			5.34			5.31			5.23			5.18
Other loans		6.83			6.39			5.98			5.92			6.22
Total consumer		6.35			6.08			6.00			5.85			5.74
Total loans and leases		6.79			6.43			6.22			5.94			5.75
Total earning assets		6.55	%		6.21	%		6.01	%		5.72	%		5.52	%
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — non-interest bearing		—	%		—	%		—	%		—	%		—	%
Demand deposits — interest bearing		2.62			2.44			2.12			1.87			1.64
Savings and other domestic time deposits		1.59			1.49			1.44			1.39			1.34
Certificates of deposit less than $100,000		4.05			3.83			3.70			3.58			3.49
Total core deposits		2.83			2.61			2.36			2.15			1.94
Domestic time deposits of $100,000 or more		4.67			4.33			3.90			3.60			3.27
Brokered deposits and negotiable CDs		5.12			4.69			4.20			3.66			3.25
Deposits in foreign offices		2.68			2.62			2.66			2.28			1.95
Total deposits		3.34			3.07			2.79			2.52			2.26
Short-term borrowings		4.12			3.57			3.11			2.74			2.16
Federal Home Loan Bank advances		4.34			3.99			3.37			3.08			3.02
Subordinated notes and other long-term debt		5.67			5.22			4.72			4.20			3.91
Total interest bearing liabilities		3.74	%		3.43	%		3.12	%		2.82	%		2.56	%
Net interest rate spread		2.81	%		2.78	%		2.89	%		2.90	%		2.96	%
Impact of non-interest bearing funds on margin		0.53			0.54			0.45			0.41			0.40
Net interest margin		3.34	%		3.32	%		3.34	%		3.31	%		3.36	%

⁽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
	2006				2005						2Q06 vs 2Q05
(in millions)	Second		First		Fourth		Third		Second		Amount			Percent
Loans and direct financing leases (1)
Regional Banking:
Central Ohio	$	3,580	$	3,191	$	3,228	$	3,186	$	3,179	$	401			12.6	%
Northern Ohio		2,615		2,520		2,546		2,551		2,532		83			3.3
Southern Ohio / Kentucky		2,193		2,092		2,064		2,075		2,062		131			6.4
Eastern Ohio		1,487		872		372		375		390		1,097			N.M.
West Michigan		2,386		2,362		2,382		2,377		2,366		20			0.8
East Michigan		1,565		1,551		1,536		1,506		1,478		87			5.9
West Virginia		1,013		966		963		944		907		106			11.7
Indiana		977		1,018		972		979		1,018		(41	)		(4.0	)
Mortgage and equipment leasing groups		3,495		3,458		3,461		3,433		3,363		132			3.9
Regional Banking		19,311		18,030		17,524		17,426		17,295		2,016			11.7
Dealer Sales		5,134		5,183		5,225		5,316		5,496		(362	)		(6.6	)
Private Financial and Capital Markets Group		1,756		1,718		1,719		1,706		1,667		89			5.3
Treasury / Other		—		—		—		—		—		—			—
Total loans and direct financing leases	$	26,201	$	24,931	$	24,468	$	24,448	$	24,458	$	1,743			7.1	%
Deposit composition (1)
Regional Banking:
Central Ohio	$	4,810	$	4,602	$	4,498	$	4,480	$	4,544	$	266			5.9	%
Northern Ohio		3,539		3,603		3,546		3,505		3,385		154			4.5
Southern Ohio / Kentucky		2,244		2,058		1,938		1,861		1,750		494			28.2
Eastern Ohio		1,758		989		585		577		556		1,202			N.M.
West Michigan		2,805		2,791		2,774		2,666		2,630		175			6.7
East Michigan		2,253		2,255		2,287		2,257		2,261		(8	)		(0.4	)
West Virginia		1,497		1,471		1,428		1,408		1,387		110			7.9
Indiana		822		746		743		747		724		98			13.5
Mortgage and equipment leasing groups		189		162		202		215		197		(8	)		(4.1	)
Regional Banking		19,917		18,677		18,001		17,716		17,434		2,483			14.2
Dealer Sales		56		58		63		72		69		(13	)		(18.8	)
Private Financial and Capital Markets Group		1,144		1,150		1,161		1,134		1,150		(6	)		(0.5	)
Treasury / Other		3,267		3,143		3,217		3,294		3,257		10			0.3
Total deposits	$	24,384	$	23,028	$	22,442	$	22,216	$	21,910	$	2,474			11.3	%

⁽¹⁾ Prior period amounts have been reclassified to conform to the current period business segment structure.

6

Huntington Bancshares Incorporated
Selected Quarterly Income Statement Data
(Unaudited)

	2006						2005									2Q06 vs 2Q05
(in thousands, except per share amounts)	Second			First			Fourth			Third			Second			Amount			Percent
Interest income	$	521,903		$	464,787		$	442,476		$	420,858		$	402,326		$	119,577			29.7	%
Interest expense		259,708			221,107			198,800			179,221			160,426			99,282			61.9
Net interest income		262,195			243,680			243,676			241,637			241,900			20,295			8.4
Provision for credit losses		15,745			19,540			30,831			17,699			12,895			2,850			22.1
Net interest income after provision for credit losses		246,450			224,140			212,845			223,938			229,005			17,445			7.6
Service charges on deposit accounts		47,225			41,222			42,083			44,817			41,516			5,709			13.8
Trust services		22,676			21,278			20,425			19,671			19,113			3,563			18.6
Brokerage and insurance income		14,345			15,193			13,101			13,948			13,544			801			5.9
Bank owned life insurance income		10,604			10,242			10,389			10,104			10,139			465			4.6
Other service charges and fees		13,072			11,509			11,488			11,449			11,252			1,820			16.2
Mortgage banking income (loss)		20,355			17,832			10,909			21,116			(2,376	)		22,731			N.M.
Securities gains (losses)		(35	)		(20	)		(8,770	)		101			(343	)		308			89.8
Gains on sales of automobile loans		532			448			455			502			254			278			N.M.
Other income		19,394			22,440			22,900			9,770			24,974			(5,580	)		(22.3	)
Sub-total before operating lease income		148,168			140,144			122,980			131,478			118,073			30,095			25.5
Operating lease income		14,851			19,390			24,342			29,262			38,097			(23,246	)		(61.0	)
Total non-interest income		163,019			159,534			147,322			160,740			156,170			6,849			4.4
Personnel costs		137,904			131,557			116,111			117,476			124,090			13,814			11.1
Net occupancy		17,927			17,966			17,940			16,653			17,257			670			3.9
Outside data processing and other services		19,569			19,851			19,693			18,062			18,113			1,456			8.0
Equipment		18,009			16,503			16,093			15,531			15,637			2,372			15.2
Professional services		6,292			5,365			7,440			8,323			9,347			(3,055	)		(32.7	)
Marketing		10,374			7,301			7,145			6,364			6,934			3,440			49.6
Telecommunications		4,990			4,825			4,453			4,512			4,801			189			3.9
Printing and supplies		3,764			3,074			3,084			3,102			3,293			471			14.3
Amortization of intangibles		2,992			1,075			218			203			204			2,788			N.M.
Other expense		19,734			16,291			19,452			20,003			19,581			153			0.8
Sub-total before operating lease expense		241,555			223,808			211,629			210,229			219,257			22,298			10.2
Operating lease expense		10,804			14,607			18,726			22,823			28,879			(18,075	)		(62.6	)
Total non-interest expense		252,359			238,415			230,355			233,052			248,136			4,223			1.7
Income before income taxes		157,110			145,259			129,812			151,626			137,039			20,071			14.6
Provision for income taxes		45,506			40,803			29,239			43,052			30,614			14,892			48.6
Net income	$	111,604		$	104,456		$	100,573		$	108,574		$	106,425		$	5,179			4.9	%
Average common shares — diluted		244,538			234,363			229,718			233,456			235,671			8,867			3.8	%
Per common share
Net income — diluted	$	0.46		$	0.45		$	0.44		$	0.47		$	0.45		$	0.01			2.2
Cash dividends declared		0.250			0.250			0.215			0.215			0.215			0.035			16.3
Return on average total assets		1.25	%		1.26	%		1.22	%		1.32	%		1.31	%		(0.06	)%		(4.6	)
Return on average total shareholders’ equity		14.9			15.5			15.5			16.5			16.3			(1.4	)		(8.6	)
Net interest margin (1)		3.34			3.32			3.34			3.31			3.36			(0.02	)		(0.6	)
Efficiency ratio (2)		58.1			58.3			57.0			57.4			61.8			(3.7	)		(6.0	)
Effective tax rate		29.0			28.1			22.5			28.4			22.3			6.7			30.0
Revenue — fully taxable equivalent (FTE)
Net interest income	$	262,195		$	243,680		$	243,676		$	241,637		$	241,900		$	20,295			8.4
FTE adjustment		3,984			3,836			3,837			3,734			2,961			1,023			34.5
Net interest income (1)		266,179			247,516			247,513			245,371			244,861			21,318			8.7
Non-interest income		163,019			159,534			147,322			160,740			156,170			6,849			4.4
Total revenue (1)	$	429,198		$	407,050		$	394,835		$	406,111		$	401,031		$	28,167			7.0	%

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 (losses).

7

Huntington Bancshares Incorporated
Quarterly Mortgage Banking Income and Net Impact of MSR Hedging
(Unaudited)

	2006						2005									2Q06 vs 2Q05
(in thousands)	Second			First			Fourth			Third			Second			Amount			Percent
Mortgage Banking Income
Origination fees	$	2,177		$	1,977		$	1,979		$	3,037		$	3,066		$	(889	)		(29.0	)%
Secondary marketing		4,914			2,022			3,346			3,408			1,749			3,165			N.M.
Servicing fees		5,995			5,925			5,791			5,532			5,464			531			9.7
Amortization of capitalized servicing (4)		(3,293	)		(3,532	)		(3,785	)		(4,626	)		(5,187	)		1,894			36.5
Other mortgage banking income		2,280			2,227			3,193			3,308			2,763			(483	)		(17.5	)
Sub-total		12,073			8,619			10,524			10,659			7,855			4,218			53.7
MSR valuation adjustment		8,281			9,213			385			10,457			(10,231	)		18,512			N.M.
Total mortgage banking income (loss)	$	20,354		$	17,832		$	10,909		$	21,116		$	(2,376	)	$	22,730			N.M.	%
Capitalized mortgage servicing rights (1)	$	136,244		$	123,257		$	91,259		$	85,940		$	71,150		$	65,094			91.5	%
MSR allowance (1)		—			—			(404	)		(789	)		(11,246	)		11,246			N.M.
Total mortgages serviced for others (1)		7,725,000			7,585,000			7,276,000			7,081,000			6,951,000			774,000			11.1
MSR % of investor servicing portfolio		1.76	%		1.63	%		1.25	%		1.21	%		1.02	%		0.74	%		72.5
Net Impact of MSR Hedging
MSR valuation adjustment (3) (4)	$	8,281		$	9,213		$	385		$	10,457		$	(10,231	)	$	18,512			N.M.	%
Net trading gains (losses) related to MSR hedging (2)		(6,739	)		(4,638	)		(2,091	)		(12,831	)		5,727			(12,466	)		N.M.
Net interest income related to MSR hedging		—			—			109			233			512			(512	)		N.M.
Net impact of MSR hedging	$	1,542		$	4,575		$	(1,597	)	$	(2,141	)	$	(3,992	)	$	5,534			N.M.	%

N.M., not a meaningful value.

⁽¹⁾ At period end.

⁽²⁾ Included in other non-interest income.

⁽³⁾ The first quarter of 2006, and subsequent quarters, reflect the adoption of SFAS 156, which records MSRs at fair value. Prior periods reflect temporary impairment or recovery, based on accounting for MSRs at the lower of cost or market.

⁽⁴⁾ The change in fair value for the period represents the MSR valuation adjustment, net of amortization of capitalized servicing.

8

Huntington Bancshares Incorporated
Quarterly Credit Reserves Analysis
(Unaudited)

	2006						2005
(in thousands)	Second			First			Fourth			Third			Second
Allowance for loan and lease losses, beginning of period	$	283,839		$	268,347		$	253,943		$	254,784		$	264,390
Acquired allowance for loan and lease losses		1,498	(1)		22,187			—			—			—
Loan and lease losses		(24,325	)		(33,405	)		(27,072	)		(25,830	)		(25,733	)
Recoveries of loans previously charged off		10,373			9,189			9,504			7,877			9,469
Net loan and lease losses		(13,952	)		(24,216	)		(17,568	)		(17,953	)		(16,264	)
Provision for loan and lease losses		16,132			17,521			31,972			17,112			13,247
Economic reserve transfer		—			—			—			—			(6,253	)
Allowance of assets sold and securitized		—			—			—			—			(336	)
Allowance for loan and lease losses, end of period	$	287,517		$	283,839		$	268,347		$	253,943		$	254,784
Allowance for unfunded loan commitments and letters of credit, beginning of period	$	39,301		$	36,957		$	38,098		$	37,511		$	31,610
Acquired AULC		—			325			—			—			—
Provision for unfunded loan commitments and letters of credit losses		(387	)		2,019			(1,141	)		587			(352	)
Economic reserve transfer		—			—			—			—			6,253
Allowance for unfunded loan commitments and letters of credit, end of period	$	38,914		$	39,301		$	36,957		$	38,098		$	37,511
Total allowances for credit losses	$	326,431		$	323,140		$	305,304		$	292,041		$	292,295
Allowance for loan and lease losses (ALLL) as % of:
Transaction reserve		0.89	%		0.88	%		0.89	%		0.84	%		0.82	%
Economic reserve		0.20			0.21			0.21			0.20			0.22
Total loans and leases		1.09	%		1.09	%		1.10	%		1.04	%		1.04	%
Non-performing loans and leases (NPLs)		213			209			263			283			304
Non-performing assets (NPAs)		168			183			229			249			262
Total allowances for credit losses (ACL) as % of:
Total loans and leases		1.24	%		1.24	%		1.25	%		1.19	%		1.19	%
Non-performing loans and leases		241			238			300			326			349
Non-performing assets		191			209			261			287			300

⁽¹⁾ Represents an adjustment of the allowance and corresponding adjustment to loan balances, resulting from the Unizan merger.

9

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

	2006						2005
(in thousands)	Second			First			Fourth			Third			Second
Net charge-offs by loan and lease type:
Commercial:
Middle market commercial and industrial	$	(484	)	$	6,887		$	(744	)	$	(1,082	)	$	1,312
Middle market commercial real estate:
Construction		(161	)		(241	)		(175	)		495			(134	)
Commercial		1,557			210			14			1,779			2,269
Middle market commercial real estate		1,396			(31	)		(161	)		2,274			2,135
Small business		2,530			3,709			4,465			3,062			2,141
Total commercial		3,442			10,565			3,560			4,254			5,588
Consumer:
Automobile loans		1,172			2,977			3,213			3,895			1,664
Automobile leases		1,758			3,515			3,422			3,105			2,123
Automobile loans and leases		2,930			6,492			6,635			7,000			3,787
Home equity		4,776			4,524			4,498			4,093			5,065
Residential mortgage		688			715			941			522			430
Other loans		2,116			1,920			1,934			2,084			1,394
Total consumer		10,510			13,651			14,008			13,699			10,676
Total net charge-offs	$	13,952		$	24,216		$	17,568		$	17,953		$	16,264
Net charge-offs — annualized percentages:
Commercial:
Middle market commercial and industrial		(0.04	)%		0.54	%		(0.06	)%		(0.09	)%		0.11	%
Middle market commercial real estate:
Construction		(0.05	)		(0.07	)		(0.04	)		0.12			(0.03	)
Commercial		0.22			0.03			—			0.37			0.48
Middle market commercial real estate		0.14			—			(0.02	)		0.25			0.24
Small business		0.41			0.70			0.80			0.54			0.38
Total commercial		0.12			0.38			0.13			0.16			0.21
Consumer:
Automobile loans		0.23			0.60			0.64			0.75			0.32
Automobile leases		0.34			0.63			0.59			0.51			0.34
Automobile loans and leases		0.28			0.62			0.61			0.62			0.33
Home equity		0.39			0.39			0.39			0.35			0.44
Residential mortgage		0.06			0.07			0.09			0.05			0.04
Other loans		1.40			1.31			1.48			1.64			1.14
Total consumer		0.30			0.40			0.41			0.40			0.31
Net charge-offs as a % of average loans		0.21	%		0.39	%		0.29	%		0.29	%		0.27	%

10

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

	2006						2005
(in thousands)	June 30,			March 31,			December 31,			September 30,			June 30,
Non-accrual loans and leases:
Middle market commercial and industrial	$	45,713		$	45,723		$	28,888		$	25,431		$	26,856
Middle market commercial real estate		24,970			18,243			15,763			13,073			15,331
Small business		27,328			28,389			28,931			26,098			19,788
Residential mortgage		22,786			29,376			17,613			16,402			14,137
Home equity		14,466			13,778			10,720			8,705			7,748
Total non-performing loans and leases		135,263			135,509			101,915			89,709			83,860
Other real estate, net:
Residential		34,743			17,481			14,214			11,182			10,758
Commercial		1,062			1,903			1,026			909			2,800
Total other real estate, net		35,805			19,384			15,240			12,091			13,558
Total non-performing assets	$	171,068		$	154,893		$	117,155		$	101,800		$	97,418
Non-performing loans and leases guaranteed by the U.S. government (1)	$	30,710		$	18,256		$	7,324		$	6,812		$	5,892
Non-performing loans and leases as a % of total loans and leases		0.51	%		0.52	%		0.42	%		0.37	%		0.34	%
Non-performing assets as a % of total loans and leases and other real estate		0.65			0.59			0.48			0.42			0.40
Accruing loans and leases past due 90 days or more (1)	$	48,829		$	52,297		$	56,138		$	50,780		$	53,371
Accruing loans and leases past due 90 days or more as a percent of total loans and leases		0.19	%		0.20	%		0.23	%		0.21	%		0.22	%

	2006						2005
(in thousands)	Second			First			Fourth			Third			Second
Non-performing assets, beginning of period	$	154,893		$	117,155		$	101,800		$	97,418		$	73,303
New non-performing assets (1)		52,498			53,768			52,553			37,570			47,420
Acquired non-performing assets		—			33,843			—			—			—
Returns to accruing status		(12,143	)		(14,310	)		(3,228	)		(231	)		(250	)
Loan and lease losses		(6,826	)		(13,314	)		(9,063	)		(5,897	)		(6,578	)
Payments		(12,892	)		(13,195	)		(21,329	)		(21,203	)		(11,925	)
Sales		(4,462	)		(9,054	)		(3,578	)		(5,857	)		(4,552	)
Non-performing assets, end of period	$	171,068		$	154,893		$	117,155		$	101,800		$	97,418

⁽¹⁾ Beginning in 2Q-2006, OREO includes balances for foreclosures on loans serviced for GNMA, that are reported in 90 day past due loans and leases in prior periods. These balances are fully guaranteed by the US Government.

11

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

Quarterly common stock summary

	2006				2005
(in thousands, except per share amounts)	Second		First		Fourth		Third		Second
Common stock price, per share
High (1)	$	24.410	$	24.750	$	24.640	$	25.410	$	24.750
Low (1)		23.120		22.560		20.970		22.310		22.570
Close		23.580		24.130		23.750		22.470		24.140
Average closing price		23.732		23.649		23.369		24.227		23.771
Dividends, per share
Cash dividends declared on common stock	$	0.250	$	0.250	$	0.215	$	0.215	$	0.215
Common shares outstanding
Average — basic		241,729		230,968		226,699		229,830		232,217
Average — diluted		244,538		234,363		229,718		233,456		235,671
Ending		237,361		245,183		224,106		229,006		230,842
Book value per share	$	12.38	$	12.56	$	11.41	$	11.45	$	11.40
Tangible book value per share		9.70		9.95		10.44		10.50		10.45
Common share repurchases
Number of shares repurchased		8,100		4,831		5,175		2,598		1,818

Capital adequacy

	2006						2005
(in millions)	June 30,			March 31,			December 31,			September 30,			June 30,
Total risk-weighted assets (2)	$	31,590		$	31,298		$	29,599		$	29,352		$	29,973
Tier 1 leverage ratio (2)		7.62	%		8.53	%		8.34	%		8.50	%		8.50	%
Tier 1 risk-based capital ratio (2)		8.45			8.94			9.13			9.42			9.18
Total risk-based capital ratio (2)		11.51			12.12			12.42			12.70			12.39
Tangible equity / asset ratio		6.46			6.97			7.19			7.39			7.36
Tangible equity / risk-weighted assets ratio (2)		7.29			7.80			7.91			8.19			8.05
Average equity / average assets		8.39			8.15			7.89			7.97			8.03
Other data
Number of employees (full-time equivalent)		8,075			8,078			7,602			7,586			7,713
Number of domestic full-service banking offices (3)		379			385			344			346			344

(1)	High and low stock prices are intra-day quotes obtained from NASDAQ.
(2)	June 30, 2006 figures are estimated.
(3)	Includes Private Financial Group offices in Florida.

12

Huntington Bancshares Incorporated
Quarterly Operating Lease Performance
(Unaudited)

	2006						2005									2Q06 vs 2Q05
(in thousands)	Second			First			Fourth			Third			Second			Amount			Percent
Balance Sheet:
Average operating lease assets outstanding	$	151,527		$	199,998		$	245,346		$	308,952		$	408,798		$	(257,271	)		(62.9	)%
Income Statement:
Net rental income	$	13,386		$	17,515		$	21,674		$	26,729		$	34,562		$	(21,176	)		(61.3	)%
Fees		669			732			1,482			1,419			1,773			(1,104	)		(62.3	)
Recoveries — early terminations		796			1,143			1,186			1,114			1,762			(966	)		(54.8	)
Total operating lease income		14,851			19,390			24,342			29,262			38,097			(23,246	)		(61.0	)
Depreciation and residual losses at termination		10,229			13,437			17,223			20,856			26,560			(16,331	)		(61.5	)
Losses — early terminations		575			1,170			1,503			1,967			2,319			(1,744	)		(75.2	)
Total operating lease expense		10,804			14,607			18,726			22,823			28,879			(18,075	)		(62.6	)
Net earnings contribution	$	4,047		$	4,783		$	5,616		$	6,439		$	9,218		$	(5,171	)		(56.1	)%
Earnings ratios (1)
Net rental income		35.3	%		35.0	%		35.3	%		34.6	%		33.8	%		1.5	%		4.4	%
Depreciation and residual losses at termination		27.0			26.9			28.1			27.0			26.0			1.0			3.8

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, annualized.

13

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

	YTD Average Balances
Fully taxable equivalent basis	Six Months Ended June 30,						Change
(in millions)	2006			2005			Amount			Percent
Assets
Interest bearing deposits in banks	$	55		$	54		$	1			1.9	%
Trading account securities		83			218			(135	)		(61.9	)
Federal funds sold and securities purchased under resale agreements		243			349			(106	)		(30.4	)
Loans held for sale		281			240			41			17.1
Investment securities:
Taxable		4,317			3,759			558			14.8
Tax-exempt		552			410			142			34.6
Total investment securities		4,869			4,169			700			16.8
Loans and leases:(1)
Commercial:
Middle market commercial and industrial		5,300			4,806			494			10.3
Middle market commercial real estate:
Construction		1,348			1,659			(311	)		(18.7	)
Commercial		2,612			1,894			718			37.9
Middle market commercial real estate		3,960			3,553			407			11.5
Small business		2,290			2,207			83			3.8
Total commercial		11,550			10,566			984			9.3
Consumer:
Automobile loans		2,019			2,038			(19	)		(0.9	)
Automobile leases		2,157			2,465			(308	)		(12.5	)
Automobile loans and leases		4,176			4,503			(327	)		(7.3	)
Home equity		4,784			4,603			181			3.9
Residential mortgage		4,468			4,000			468			11.7
Other loans		596			486			110			22.6
Total consumer		14,024			13,592			432			3.2
Total loans and leases		25,574			24,158			1,416			5.9
Allowance for loan and lease losses		(288	)		(276	)		(12	)		(4.3	)
Net loans and leases		25,286			23,882			1,404			5.9
Total earning assets		31,105			29,188			1,917			6.6
Operating lease assets		176			469			(293	)		(62.5	)
Cash and due from banks		798			887			(89	)		(10.0	)
Intangible assets		500			218			282			N.M.
All other assets		2,309			2,115			194			9.2
Total Assets	$	34,600		$	32,601		$	1,999			6.1	%
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — non-interest bearing	$	3,515		$	3,333		$	182			5.5	%
Demand deposits — interest bearing		7,671			7,800			(129	)		(1.7	)
Savings and other domestic time deposits		3,101			3,274			(173	)		(5.3	)
Certificates of deposit less than $100,000		4,141			2,609			1,532			58.7
Total core deposits		18,428			17,016			1,412			8.3
Domestic time deposits of $100,000 or more		1,609			1,249			360			28.8
Brokered deposits and negotiable CDs		3,203			2,987			216			7.2
Deposits in foreign offices		469			438			31			7.1
Total deposits		23,709			21,690			2,019			9.3
Short-term borrowings		1,856			1,240			616			49.7
Federal Home Loan Bank advances		1,505			1,166			339			29.1
Subordinated notes and other long-term debt		3,392			4,308			(916	)		(21.3	)
Total interest bearing liabilities		26,947			25,071			1,876			7.5
All other liabilities		1,275			1,624			(349	)		(21.5	)
Shareholders’ equity		2,863			2,573			290			11.3
Total Liabilities and Shareholders’ Equity	$	34,600		$	32,601		$	1,999			6.1	%

N.M., not a meaningful value.

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

14

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

	YTD Average Rates (2)
	Six Months Ended June 30,
Fully Taxable Equivalent basis (1)	2006			2005
Assets
Interest bearing deposits in banks		3.93	%		1.67	%
Trading account securities		5.33			4.03
Federal funds sold and securities purchased under resale agreements		4.56			2.49
Loans held for sale		6.08			5.83
Investment securities:
Taxable		5.17			3.99
Tax-exempt		6.77			6.75
Total investment securities		5.35			4.26
Loans and leases:
Commercial:
Middle market commercial and industrial		7.03			5.34
Middle market commercial real estate:
Construction		7.76			5.79
Commercial		7.04			5.38
Middle market commercial real estate		7.28			5.57
Small business		6.90			5.91
Total commercial		7.09			5.54
Consumer:
Automobile loans		6.44			6.70
Automobile leases		4.99			4.91
Automobile loans and leases		5.69			5.72
Home equity		7.41			6.01
Residential mortgage		5.37			5.16
Other loans		6.61			6.32
Total consumer		6.22			5.67
Total loans and leases		6.61			5.62
Total earning assets		6.38	%		5.37	%
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — non-interest bearing		—	%		—	%
Demand deposits — interest bearing		2.54			1.54
Savings and other domestic time deposits		1.54			1.30
Certificates of deposit less than $100,000		3.95			3.46
Total core deposits		2.72			1.85
Domestic time deposits of $100,000 or more		4.51			3.10
Brokered deposits and negotiable CDs		4.91			3.05
Deposits in foreign offices		2.65			1.69
Total deposits		3.21			2.13
Short-term borrowings		3.87			1.91
Federal Home Loan Bank advances		4.17			2.96
Subordinated notes and other long-term debt		5.44			3.64
Total interest bearing liabilities		3.59			2.42
Net interest rate spread		2.79			2.95
Impact of non-interest bearing funds on margin		0.54			0.39
Net interest margin		3.33	%		3.34	%

N.M., not a meaningful value.

⁽¹⁾ Fully taxable equivalent (FTE) yields are calculated assuming a 35% tax rate. See page 16 for the FTE adjustment.

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

⁽³⁾ For purposes of this analysis, non-accrual loans are reflected in the average balances of loans.

15

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

	Six Months Ended June 30,						Change
(in thousands, except per share amounts)	2006			2005			Amount			Percent
Interest income	$	986,690		$	778,431		$	208,259			26.8	%
Interest expense		480,815			301,333			179,482			59.6
Net interest income		505,875			477,098			28,777			6.0
Provision for credit losses		35,285			32,769			2,516			7.7
Net interest income after provision for credit losses		470,590			444,329			26,261			5.9
Service charges on deposit accounts		88,447			80,934			7,513			9.3
Trust services		43,954			37,309			6,645			17.8
Brokerage and insurance income		29,538			26,570			2,968			11.2
Bank owned life insurance income		20,846			20,243			603			3.0
Other service charges and fees		24,581			21,411			3,170			14.8
Mortgage banking income		38,187			9,685			28,502			N.M.
Securities gains		(55	)		614			(669	)		N.M.
Gains on sales of automobile loans		980			254			726			N.M.
Other income		41,834			42,371			(537	)		(1.3	)
Sub-total before operating lease income		288,312			239,391			48,921			20.4
Operating lease income		34,241			84,829			(50,588	)		(59.6	)
Total non-interest income		322,553			324,220			(1,667	)		(0.5	)
Personnel costs		269,461			248,071			21,390			8.6
Net occupancy		35,893			36,499			(606	)		(1.7	)
Outside data processing and other services		39,420			36,883			2,537			6.9
Equipment		34,512			31,500			3,012			9.6
Professional services		11,657			18,806			(7,149	)		(38.0	)
Marketing		17,675			12,770			4,905			38.4
Telecommunications		9,815			9,683			132			1.4
Printing and supplies		6,838			6,387			451			7.1
Amortization of intangibles		4,067			408			3,659			N.M.
Other expense		36,025			38,579			(2,554	)		(6.6	)
Sub-total before operating lease expense		465,363			439,586			25,777			5.9
Operating lease expense		25,411			66,827			(41,416	)		(62.0	)
Total non-interest expense		490,774			506,413			(15,639	)		(3.1	)
Income before income taxes		302,369			262,136			40,233			15.3
Provision for income taxes		86,309			59,192			27,117			45.8
Net income	$	216,060		$	202,944		$	13,116			6.5	%
Average common shares — diluted		239,451			235,362			4,089			1.7	%
Per common share
Net income per common share — diluted	$	0.90		$	0.86		$	0.04			4.7	%
Cash dividends declared		0.500			0.415			0.085			20.5
Return on average total assets		1.26	%		1.26	%		—	%		—	%
Return on average total shareholders’ equity		15.2			15.9			(0.7	)		(4.4	)
Net interest margin (1)		3.33			3.34			(0.01	)		(0.3	)
Efficiency ratio (2)		58.2			62.7			(4.5	)		(7.2	)
Effective tax rate		28.5			22.6			5.9			26.1
Revenue — fully taxable equivalent (FTE)
Net interest income	$	505,875		$	477,098		$	28,777			6.0	%
FTE adjustment (1)		7,820			5,822			1,998			34.3
Net interest income		513,695			482,920			30,775			6.4
Non-interest income		322,553			324,220			(1,667	)		(0.5	)
Total revenue	$	836,248		$	807,140		$	29,108			3.6	%

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.

16

Huntington Bancshares Incorporated
Year To Date Mortgage Banking Income and Net Impact of MSR Hedging
(Unaudited)

	Six Months Ended June 30,						Change
(in thousands)	2006			2005			Amount			Percent
Mortgage Banking Income
Origination fees	$	4,154		$	5,765		$	(1,611	)		(27.9	)%
Secondary marketing		6,936			4,232			2,704			63.9
Servicing fees		11,920			10,858			1,062			9.8
Amortization of capitalized servicing (4)		(6,825	)		(9,948	)		3,123			31.4
Other mortgage banking income		4,507			5,249			(742	)		(14.1	)
Sub-total		20,692			16,156			4,536			28.1
MSR recovery / (impairment)		17,494			(6,471	)		23,965			N.M.
Total mortgage banking income (loss)	$	38,186		$	9,685		$	28,501			N.M.	%
Capitalized mortgage servicing rights (1)	$	136,244		$	71,150		$	65,094			91.5	%
MSR allowance (1)		—			(11,246	)		11,246			N.M.
Total mortgages serviced for others (1)		7,725,000			6,951,000			774,000			11.1
MSR % of investor servicing portfolio		1.76	%		1.02	%		0.74	%		72.5
Net Impact of MSR Hedging
MSR valuation adjustment (3) (4)	$	17,494		$	(6,471	)	$	23,965			N.M.	%
Net trading gains (losses) related to MSR hedging (2)		(11,377	)		1,545			(12,922	)		N.M.
Net interest income related to MSR hedging		—			1,346			(1,346	)		N.M.
Net impact of MSR hedging	$	6,117		$	(3,580	)	$	9,697			N.M.	%

N.M., not a meaningful value.
(1)	At period end.
(2)	Included in other non-interest income.
(3)	The first quarter of 2006, and subsequent quarters, reflect the adoption of SFAS 156, which records MSRs at fair value. Prior periods reflect temporary impairment or recovery, based on accounting for MSRs at the lower of cost or market.
(4)	The change in fair value for the period represents the MSR valuation adjustment, net of amortization of capitalized servicing.

17

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

	Six Months Ended June 30,
(in thousands)	2006			2005
Allowance for loan and lease losses, beginning of period	$	268,347		$	271,211
Acquired allowance for loan and lease losses		23,685			—
Loan and lease losses		(57,730	)		(62,946	)
Recoveries of loans previously charged off		19,562			18,410
Net loan and lease losses		(38,168	)		(44,536	)
Provision for loan and lease losses		33,653			34,698
Economic reserve transfer		—			(6,253	)
Allowance of assets sold and securitized		—			(336	)
Allowance for loan and lease losses, end of period	$	287,517		$	254,784
Allowance for unfunded loan commitments and letters of credit, beginning of period	$	36,957		$	33,187
Acquired AULC		325			—
Provision for unfunded loan commitments and letters of credit losses		1,632			(1,929	)
Economic reserve transfer		—			6,253
Allowance for unfunded loan commitments and letters of credit, end of period	$	38,914		$	37,511
Total allowances for credit losses	$	326,431		$	292,295
Allowance for loan and lease losses (ALLL) as % of:
Transaction reserve		0.89	%		0.82	%
Economic reserve		0.20			0.22
Total loans and leases		1.09	%		1.04	%
Non-performing loans and leases (NPLs)		213			304
Non-performing assets (NPAs)		168			262
Total allowances for credit losses (ACL) as % of:
Total loans and leases		1.24	%		1.19	%
Non-performing loans and leases		241			349
Non-performing assets		191			300

N.A., not applicable.

18

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

	Six Months Ended June 30,
(in thousands)	2006			2005
Net charge-offs by loan and lease type:
Commercial:
Middle market commercial and industrial	$	6,403		$	15,404
Middle market commercial real estate:
Construction		(402	)		(185	)
Commercial		1,767			2,117
Middle market commercial real estate		1,365			1,932
Small business		6,239			4,424
Total commercial		14,007			21,760
Consumer:
Automobile loans		4,149			4,880
Automobile leases		5,273			5,137
Automobile loans and leases		9,422			10,017
Home equity		9,300			9,028
Residential mortgage		1,403			869
Other loans		4,036			2,862
Total consumer		24,161			22,776
Total net charge-offs	$	38,168		$	44,536
Net charge-offs — annualized percentages:
Commercial:
Middle market commercial and industrial		0.24	%		0.64	%
Middle market commercial real estate:
Construction		(0.06	)		(0.02	)
Commercial		0.14			0.22
Middle market commercial real estate		0.07			0.11
Small business		0.54			0.40
Total commercial		0.24			0.41
Consumer:
Automobile loans		0.41			0.48
Automobile leases		0.49			0.42
Automobile loans and leases		0.45			0.44
Home equity		0.39			0.39
Residential mortgage		0.06			0.04
Other loans		1.35			1.18
Total consumer		0.34			0.34
Net charge-offs as a % of average loans		0.30	%		0.37	%

N.M., not a meaningful value.

19

Huntington Bancshares Incorporated
Year To Date Non-Performing Assets and Past Due Loans and Leases
(Unaudited)

	June 30,
(in thousands)	2006			2005
Non-accrual loans and leases:
Middle market commercial and industrial	$	45,713		$	26,856
Middle market commercial real estate		24,970			15,331
Small business		27,328			19,788
Residential mortgage		22,786			14,137
Home equity		14,466			7,748
Total non-performing loans and leases		135,263			83,860
Other real estate, net:
Residential		34,743			10,758
Commercial		1,062			2,800
Total other real estate, net		35,805			13,558
Total non-performing assets	$	171,068		$	97,418
Non-performing loans and leases guaranteed by the U.S. government (1)	$	30,710		$	5,892
Non-performing loans and leases as a % of total loans and leases		0.51	%		0.34	%
Non-performing assets as a % of total loans and leases and other real estate		0.65			0.40
Accruing loans and leases past due 90 days or more (1)	$	48,829		$	53,371
Accruing loans and leases past due 90 days or more as a percent of total loans and leases		0.19	%		0.22	%

	June 30,
(in thousands)	2006			2005
Non-performing assets, beginning of period	$	117,155		$	108,568
New non-performing assets (1)		106,266			81,027
Acquired non-performing assets		33,843			—
Returns to accruing status		(26,453	)		(4,088	)
Loan and lease losses		(20,140	)		(23,859	)
Payments		(26,087	)		(22,329	)
Sales		(13,516	)		(41,901	)
Non-performing assets, end of period	$	171,068		$	97,418

⁽¹⁾ Beginning in 2Q-2006, OREO includes balances for foreclosures on loans serviced for GNMA, that are reported in 90 day past due loans and leases in prior periods. These balances are fully guaranteed by the US Government.

20

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

	Six Months Ended June 30,						2006 vs 2005
(in thousands)	2006			2005			Amount			Percent
Balance Sheet:
Average operating lease assets outstanding	$	175,629		$	468,688		$	(293,059	)		(62.5	)%
Income Statement:
Net rental income	$	30,901		$	78,116		$	(47,215	)		(60.4	)
Fees		1,401			3,630			(2,229	)		(61.4	)
Recoveries — early terminations		1,939			3,083			(1,144	)		(37.1	)
Total operating lease income		34,241			84,829			(50,588	)		(59.6	)
Depreciation and residual losses at termination		23,666			61,263			(37,597	)		(61.4	)
Losses — early terminations		1,745			5,564			(3,819	)		(68.6	)
Total operating lease expense		25,411			66,827			(41,416	)		(62.0	)
Net earnings contribution	$	8,830		$	18,002		$	(9,172	)		(50.9	)%
Earnings ratios (1)
Net rental income		35.2	%		33.3	%		1.9	%		5.7	%
Depreciation and residual losses at termination		26.9			26.1			0.8			3.1

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, annualized.

21