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) January 17, 2008

HUNTINGTON BANCSHARES INCORPORATED

(Exact name of registrant as specified in its charter)

Maryland	0-2525	31-0724920
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

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

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

Not Applicable

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

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

Item 2.02. Results of Operations and Financial Condition.

     On January 17, 2008, Huntington Bancshares Incorporated (“Huntington”) issued a news release announcing its earnings for the quarter and year ended December 31, 2007. Also on January 17, 2008, 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 January 17, 2008, 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 30145719. Slides will be available at www.huntington-ir.com just prior to 1:00 p.m. EST on January 17, 2008, 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 January 31, 2008, at 800-642-1687; conference call ID 30145719.

     The information contained or incorporated by reference in this Current Report on Form 8-K contains certain forward-looking statements, including certain plans, expectations, goals, projections, and statements, which are subject to numerous assumptions, risks, and uncertainties. Actual results could differ materially from those contained or implied by such statements for a variety of factors including: (1) deterioration in the loan portfolio could be worse than expected due to a number of factors such as the underlying value of the collateral could prove less valuable than otherwise assumed and assumed cash flows may be worse than expected; (2) merger benefits including expense efficiencies and revenue synergies may not be fully realized and / or within expected timeframes; (3) merger disruptions may make it more difficult to maintain relationships with clients, associates, or suppliers; (4) changes in economic conditions; (5) movements in interest rates; (6) competitive pressures on product pricing and services; (7) success and timing of other business strategies; (8) the nature, extent, and timing of governmental actions and reforms; and (9) extended disruption of vital infrastructure. Additional factors that could cause results to differ materially from those described above can be found in Huntington’s 2006 Annual Report on Form 10-K, and documents subsequently filed by Huntington with the Securities and Exchange Commission. All forward-looking statements contained or incorporated by reference in this Current Report on Form 8-K are based on information available at the time of the release. Huntington assumes no obligation to update any forward-looking statement.

     The 2008 full year earnings guidance provided in the news release is not presented in accordance with Generally Accepted Accounting Principles (GAAP) because it excludes merger related integration costs, as Management considers these costs to be unusual. Below is the guidance based upon GAAP.

(in millions, except earnings per share)	Range
GAAP earnings guidance
Net income	$	587.6		$	608.6
Earnings per share	$	1.59		$	1.65
Merger related integration costs, net of tax
Net income	$	6.5		$	3.3
Earnings per share	$	0.02		$	0.01
Expected Visa® indemnification expense reversal, net of tax
Net Income	$	(16.2	)	$	(16.2	)
Earnings per share	$	(0.04	)	$	(0.04	)
Earnings guidance
Net income	$	577.9		$	595.7
Earnings per share	$	1.57		$	1.62

     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 January 17, 2008.

Exhibit 99.2 – Quarterly Financial Review, December 2007.

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: January 17, 2008	By: /s/ Donald R. Kimble
	Donald R. Kimble
	Executive Vice President and Chief Financial Officer

EXHIBIT INDEX

Exhibit No.	Description
Exhibit 99.1	News release of Huntington Bancshares Incorporated, January 17, 2008.
Exhibit 99.2	Quarterly Financial Review, December 2007.

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE
January 17, 2008

Contacts:
Analysts Jay Gould Jack Pargeon	(614) 480-4060 (614) 480-3878	Media Jeri Grier Maureen Brown	(614) 480-5413 (614) 480-4588

HUNTINGTON BANCSHARES REPORTS:

• 2007 FOURTH QUARTER NET LOSS OF $239.3 MILLION, OR $0.65 PER COMMON SHARE, AS PREVIOUSLY ANNOUNCED

• $0.265 PER COMMON SHARE DIVIDEND ANNOUNCED YESTERDAY

• 2008 FULL YEAR EARNINGS TARGET OF $1.57-$1.62 PER COMMON SHARE

     COLUMBUS, Ohio — Huntington Bancshares Incorporated (NASDAQ: HBAN; www.huntington.com) reported a 2007 fourth quarter net loss of $239.3 million, or $0.65 per common share. This was consistent with the announcement on January 10, 2008. Earnings in the year-ago fourth quarter were $87.7 million, or $0.37 per common share. Earnings in the current and year-ago quarters were impacted by several significant items (see Significant Items Influencing Financial Performance Comparisons discussion and Table 1).

     Earnings for the full year 2007 were $75.2 million, or $0.25 per common share, compared with $461.2 million, or $1.92 per common share in 2006.

     Huntington also announced yesterday that the board of directors has declared a quarterly cash dividend on its common stock of $0.265 per common share. The dividend is payable April 1, 2008, to shareholders of record on March 14, 2008.

PERFORMANCE OVERVIEW

     Performance compared with the 2007 third quarter included:

• Net loss of $0.65 per common share, compared with $0.38 earnings per common share.

• Current quarter earnings were negatively impacted by $1.00 per common share consisting of costs associated with Franklin Credit Management Corporation (Franklin), market-related losses, merger costs, a VISA^® indemnification charge, and increases to litigation reserves on existing cases. The 2007 third quarter earnings were negatively impacted by $0.09 per common share, reflecting the combination of merger costs associated with the acquisition of Sky Financial Group Inc. (Sky Financial) and net market-related losses.

• $512.1 million of total provision for credit losses, consisting of $405.8 million for Franklin and $106.2 million non-Franklin-related. This compares with $42.0 million of provision for credit losses in the third quarter, of which $5.0 million

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was for Franklin, and $37.0 million non-Franklin. The $69.2 million increase in non-Franklin provision for credit losses reflected higher non-Franklin net charge-offs, due primarily to the continued weakness in the commercial real estate markets, particularly among our borrowers in eastern Michigan and northern Ohio, and an increased allowance for credit losses.

• 3.26% net interest margin, down from 3.52% in the 2007 third quarter, reflecting a 15 basis point one time negative impact related to Franklin, as well as continued intense competitive pricing in our markets, mostly deposit related.

• 6% annualized linked-quarter growth in average total commercial loans, with average total consumer loans little changed.

• Average total core deposits that were essentially unchanged.

• Strong linked-quarter growth in key fee income activities including deposit service charges (4%), trust services (5%), brokerage and insurance (5%), and other service charges and fees (4%). Fourth quarter non-interest income also reflected $66.7 million of the $63.5 million of net market-related losses, compared with $23.5 million of the $18.0 million of such net losses in the 2007 third quarter.

• Slight linked-quarter increase in non-interest expense, excluding the impact of merger-related costs and automobile operating lease expenses in both periods, the fourth quarter VISA^® indemnification charge and increases to litigation reserves on existing cases, and the third quarter debt extinguishment gain. The slight linked quarter increase reflected higher seasonal expenses partially offset by the benefit of achieving almost 90% of the $115 million targeted total annualized merger efficiencies.

• $377.9 million of net charge-offs, including $308.5 million related to the Franklin restructuring, up from $47.1 million in the third quarter.

• 1.44% period-end allowance for loan and lease losses (ALLL) ratio, up from 1.14% at the end of the third quarter.

• $319.8 million of non-accrual loans, up from $249.4 million at the end of the third quarter with most of the increase in middle market commercial real estate loans. Period end non-accrual loans represented 0.80% of total loans and leases, up from 0.62% at September 30, 2007.

• $1.660 billion of nonperforming assets, up $1.225 billion from $435 million at the end of the third quarter, with $1.187 billion of the increase representing Franklin restructured loans.

• 5.08% period-end tangible common equity ratio, down from 5.70%. This reduction primarily reflected the negative impact on capital due to the current quarter’s net loss.

     “We are disappointed with these results,” said Thomas E. Hoaglin, chairman, president, and chief executive officer. “Clearly the biggest setback was the significant negative impact associated with the previously announced restructuring of the Franklin relationship acquired in the Sky Financial merger. However, we firmly believe that the specific reserves we have established and the positive cash flow coverage resulting from the restructuring address fully the current and anticipated financial performance issues associated with this relationship. As such, we do not anticipate any further negative impact from this relationship. Also negatively

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impacting performance was the need to build non-Franklin-related loan loss reserves in view of the continued weakness in the residential real estate development markets.”

     He continued, “While not an excuse, many of the items negatively impacting fourth quarter performance were one-time in nature or reflected the volatile financial markets. The volatility of securities markets, and particularly the negative valuation performance of financial securities, resulted in our market-related losses. When these markets will stabilize is not known. The public equity investment funds and the investment securities portfolio where we have been most negatively impacted have now been written down to less than $25 million.”

     “Despite these developments, there were positive signs of the underlying strength of our franchise,” he said. “The quarter’s results included good growth in commercial loans and strong growth in a number of key fee income activities. Our underlying expenses were well controlled, and we have realized almost 90% of the merger efficiencies and are confident of achieving the rest.”

     “Even in this difficult environment, our 2008 expectations are for a net interest margin in the 3.35% range, and growth in loans and fee income. We expect no significant market-related losses and will remain focused on controlling expenses. Credit quality performance will remain under pressure. We expect meaningful progress in building capital ratios. This confidence was evidenced by the reaffirmation of the common stock dividend by our board of directors. We will continue to focus on executing our business plan, and we believe 2008 will be a successful year,” he concluded.

FOURTH QUARTER PERFORMANCE DISCUSSION

Significant Items Influencing Financial Performance Comparisons

     Specific significant items impacting 2007 fourth quarter performance included (see Table 1 below):

• $423.6 million pre-tax ($0.75 per common share) negative impact related to the Franklin relationship announced on January 3, 2008, consisting of a $405.8 million provision for credit losses related to the completed restructuring of the Franklin loans and a $17.9 million reduction of net interest income. The net interest income reduction reflected the placement of the Franklin loans on non-accrual status from November 16, 2007 until December 28, 2007. During this period, the loan payments from Franklin remained current, with the interest received used to reduce the exposure.

• $63.5 million pre-tax ($0.11 per common share) negative impact of market-related losses consisting of:

• $34.0 million loss on loans held for sale,

• $11.6 million of impairment losses on certain investment securities,

• $9.4 million of equity investment losses, and

• $8.6 million net negative impact of mortgage servicing rights (MSR) hedging consisting of a net impairment loss of $11.8 million included in non-interest income, partially offset by related net interest income of $3.2 million.

• $44.4 million pre-tax ($0.08 per common share) of merger-costs consisting of:

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• $31.0 million related to Sky Financial integration expenses, and

• $13.4 million related to the previously announced retirement of Marty Adams, former president and chief operating officer, consisting of a cash payment, the accelerated vesting of stock awards, and retirement benefits.

• $24.9 million pre-tax ($0.04 per common share) VISA^® indemnification charge associated with its announced anti-trust settlement with American Express^® and pending VISA^® litigation.

• $8.9 million pre-tax ($0.02 per common share) of increases to litigation reserves on existing cases.

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

Three Months Ended	Impact (2)
(in millions, except per share)	Pre-tax			EPS (3)
December 31, 2007 — GAAP earnings (loss)	$	(239.3)	(3)	$	(0.65	)
• Franklin relationship restructuring		(423.6	)		(0.75	)
• Net market-related losses		(63.5	)		(0.11	)
• Merger costs		(44.4	)		(0.08	)
• VISA® indemnification charge		(24.9	)		(0.04	)
• Increases to litigation reserves		(8.9	)		(0.02	)
September 30, 2007 — GAAP earnings	$	138.2	(3)	$	0.38
• Sky Financial merger costs		(32.3	)		(0.06	)
• Net market-related losses		(18.0	)		(0.03	)
December 31, 2006 — GAAP earnings	$	87.7	(3)	$	0.37
• Gain on sale of MasterCard® stock		2.6			0.01
• Completion of balance sheet restructuring		(20.2	)		(0.05	)
• Huntington Foundation contribution		(10.0	)		(0.03	)
• Automobile lease residual value losses		(5.2	)		(0.01	)
• Severance and consolidation expenses		(4.5	)		(0.01	)

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

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

2007 Fourth Quarter versus 2006 Fourth Quarter

     Fully taxable equivalent net interest income increased $126.2 million from the year-ago quarter. This reflected the favorable impact of a $15.6 billion increase in average earning assets, of which $13.8 billion represented an increase in average loans and leases, partially offset by a slight decrease in the fully-taxable equivalent net interest margin of 2 basis points to 3.26%. The current quarter net interest margin included a one-time negative impact of 15 basis points, reflecting Franklin loans that were put on nonaccrual status from November 16, 2007 until December 28, 2007. The increases in average earning assets, as well as loans and leases, were primarily merger-related. Table 2 details the $13.8 billion reported increase in average loans and leases.

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Table 2 — Loans and Leases — 4Q07 vs. 4Q06

	Fourth Quarter				Change					Merger		Non-merger Related
(in billions)	2007		2006		Amount		%			Related		Amount			% (1)
Average Loans and Leases
Total commercial	$	22.3	$	12.3	$	10.0		81	%	$	8.7	$	1.3			6	%
Automobile loans and leases		4.3		3.9		0.4		9			0.4		(0.1	)		(1	)
Home equity		7.3		5.0		2.3		47			2.4		(0.1	)		(1	)
Residential mortgage		5.4		4.6		0.8		17			1.1		(0.3	)		(5	)
Other consumer		0.7		0.4		0.3		69			0.1		0.2			27
Total consumer		17.8		14.0		3.8		27			4.1		(0.3	)		(2	)
Total loans and leases	$	40.1	$	26.3	$	13.8		53	%	$	12.8	$	1.0			3	%

(1) = non-merger related / (prior period + merger-related)

     The $1.0 billion, or 3%, non-merger-related increase primarily reflected:

• $1.3 billion, or 6%, increase in average total commercial loans, reflecting continued strong growth in middle-market commercial and industrial (C&I) loans.

Partially offset by:

• $0.3 billion, or 2%, decrease in average total consumer loans. This reflected a decline in residential mortgages due to loan sales over the last 12-month period. The declines in home equity loans and automobile loans and leases reflect weaker demand, a softer economy, as well as the continued impact of competitive pricing.

     Also contributing to the growth in average earning assets was a $1.0 billion increase in average trading account securities. The increase in these assets reflected a change in our strategy to use trading account securities to hedge the change in fair value of our mortgage servicing rights (MSR).

     The 3.26% fully taxable net interest margin in the current period, which was below our expectations, reflected a one-time negative impact of 15 basis points as the Franklin loans were put on nonaccrual status from November 16, 2007 until December 28, 2007. The margin decline also reflected competitive deposit pricing in our markets.

     Table 3 details the $13.0 billion reported increase in average total deposits.

Table 3 — Deposits — 4Q07 vs. 4Q06

	Fourth Quarter				Change					Merger		Non-merger Related
(in billions)	2007		2006		Amount		%			Related		Amount			%(1)
Average Deposits
Demand deposits — non-interest bearing	$	5.2	$	3.6	$	1.6		46	%	$	1.8	$	(0.2	)		(4	)%
Demand deposits — interest bearing		3.9		2.2		1.7		77			1.5		0.3			7
Money market deposits		6.8		5.5		1.3		23			1.0		0.3			5
Savings and other domestic deposits		4.8		2.8		2.0		69			2.6		(0.6	)		(12	)
Core certificates of deposit		10.7		5.4		5.3		98			4.6		0.7			7
Total core deposits		31.5		19.6		11.9		61			11.5		0.4			1
Other deposits		6.2		5.1		1.1		21			1.3		(0.3	)		(4	)
Total deposits	$	37.7	$	24.7	$	13.0		52	%	$	12.9	$	0.1			0	%

(1) = non-merger related / (prior period + merger-related)

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     Virtually all of the increase in average total deposits was merger-related. The $0.1 billion non-merger-related increase reflected:

• $0.4 billion, or 1%, increase in average total core deposits, reflecting strong growth in interest bearing demand deposits and money market accounts. While there was strong growth in core certificates of deposits, this was offset by the decline in savings and other domestic deposits, as customers transferred funds from lower rate to higher rate accounts.

Partially offset by:

• $0.3 billion, or 4%, decline in other non-core deposits.

2007 Fourth Quarter versus 2007 Third Quarter

     Compared with the 2007 third quarter, fully taxable equivalent net interest income decreased $27.0 million. This reflected the negative impact of a lower fully taxable equivalent net interest margin, only partially offset by an increase in average earning assets, primarily loans. The fully-taxable net interest margin was 3.26% in the quarter, down 26 basis points, of which 15 basis points represented the $17.9 million reduction of interest income as the Franklin loans were put on nonaccrual status from November 16, 2007 until December 28, 2007. The remainder of the decline in the fully taxable net interest margin primarily reflected continued deposit pricing competition in our markets. These negatives were only partially offset by the $0.4 billion increase in average earning assets, of which $0.3 billion represented growth in average total loans and leases.

     Table 4 details the $0.3 billion reported increase in average loans and leases.

Table 4 — Loans and Leases — 4Q07 vs. 3Q07

	Fourth		Third
	Quarter		Quarter		Change
(in billions)	2007		2007		Amount			%
Average Loans and Leases
Total commercial	$	22.3	$	22.0	$	0.3			1	%
Automobile loans and leases		4.3		4.4		(0.0	)		(1	)
Home equity		7.3		7.5		(0.2	)		(2	)
Residential mortgage		5.4		5.5		(0.0	)		(0	)
Other consumer		0.7		0.5		0.2			36
Total consumer		17.8		17.8		(0.0	)		(0	)
Total loans and leases	$	40.1	$	39.8	$	0.3			1	%

     The $0.3 billion, or 1%, increase in average total loans and leases primarily reflected 1% growth in average total commercial loans due to strong growth in middle-market commercial real estate loans. Average total consumer loans were essentially unchanged.

     While average total deposits were essentially unchanged, Table 5 details the changes in the various deposit categories.

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Table 5 — Deposits — 4Q07 vs. 3Q07

	Fourth		Third
	Quarter		Quarter		Change
(in billions)	2007		2007		Amount			%
Average Deposits
Demand deposits — non-interest bearing	$	5.2	$	5.4	$	(0.2	)		(3	)%
Demand deposits — interest bearing		3.9		3.8		0.1			3
Money market deposits		6.8		6.9		(0.0	)		(0	)
Savings and other domestic deposits		4.8		5.0		(0.2	)		(5	)
Core certificates of deposit		10.7		10.4		0.2			2
Total core deposits		31.5		31.5		(0.1	)		(0	)
Other deposits		6.2		6.1		0.1			1
Total deposits	$	37.7	$	37.7	$	0.0			0	%

     Average total deposits were $37.7 billion, essentially unchanged compared with the prior quarter. However, there were changes between the various deposit account categories consisting of:

• $0.1 billion, or 1%, increase in other non-core deposits, reflecting an increase in wholesale deposits.

• $0.1 billion decline in average total core deposits, reflecting anticipated merger-related deposit attrition. Within core deposits, transfers from lower cost to higher cost deposit accounts continued. Specifically, declines in savings and other domestic deposits and non-interest bearing demand reflected customer transfers out of these lower rate accounts and into higher rate interest bearing demand accounts and certificates of deposit.

Provision for Credit Losses

     The provision for credit losses in the 2007 fourth quarter was $512.1 million, up from $15.7 million in the year-ago quarter and from $42.0 million in the third quarter. Compared with the 2007 third quarter, the $470.1 million increase included $405.8 million related to Franklin. Reported 2007 net charge-offs were $377.9 million, including $308.5 million related to Franklin. As a result, the reported provision for credit losses exceed net charge-offs by $134.2 million. Adjusting for Franklin-related provision and net charge-offs, the non-Franklin-related provision for credit losses was $106.3 million, or $36.9 million greater than related net charge-offs of $69.4 million. (See Credit Quality Discussion).

Non-Interest Income

2007 Fourth Quarter versus 2006 Fourth Quarter

     Non-interest income increased $30.0 million from the year-ago quarter. The $68.7 million of merger-related non-interest income drove the increase, as non-merger-related non-interest income declined. Table 6 details the $30.0 million increase in reported total non-interest income.

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Table 6 — Non-interest Income — 4Q07 vs. 4Q06

	Fourth Quarter						Change						Merger		Non-merger Related
(in millions)	2007			2006			Amount			%			Related		Amount			%(1)
Non-interest Income
Service charges on deposit accounts	$	81.3		$	48.5		$	32.7			67	%	$	24.1	$	8.6			12	%
Trust services		35.2			23.5			11.7			50			7.0		4.7			15
Brokerage and insurance income		30.3			14.6			15.7		NM				17.1		(1.4	)		(4	)
Other service charges and fees		21.9			13.8			8.1			59			5.8		2.3			12
Bank owned life insurance income		13.3			10.8			2.4			23			1.8		0.6			5
Mortgage banking income		3.7			6.2			(2.5	)		(40	)		6.3		(8.7	)		(70	)
Securities losses		(11.6	)		(15.8	)		4.3			(27	)		0.3		4.0			(26	)
Other income		(3.5	)		39.0			(42.5	)	NM				6.4		(48.9	)	NM
Total non-interest income	$	170.6		$	140.6		$	30.0			21	%	$	68.7	$	(38.8	)		(19	)%

(1) = non-merger related / (prior period + merger-related)

     The $38.8 million, or 19%, non-merger-related decline reflected:

• $48.9 million decline in other income, reflecting the current quarter’s $34.0 million loss on loans held for sale, $9.4 million of equity investment losses in the current quarter compared with $3.3 million of such gains in the year-ago quarter, and a $2.6 million gain on the sale of MasterCard^® stock in the year-ago quarter.

• $8.7 million, or 70%, decline in mortgage banking income, reflecting the current quarter’s $11.8 million net negative MSR valuation impact, compared with a $2.5 million net negative MSR valuation impact in the year ago quarter.

Partially offset by:

• $8.6 million, or 12%, increase in service charges on deposit accounts, reflecting strong growth in personal service charge income.

• $4.7 million, or 15%, increase in trust services income, of which $2.5 million reflected fees associated with the acquisition of Unified Fund Services at the end of the 2006 fourth quarter, as well as an increase in Huntington Fund fees due to asset growth.

• $4.0 million less in investment securities losses. In the 2007 fourth quarter, net investment securities impairment losses were $11.6 million. This was less than the $15.8 million of such losses in the year-ago quarter, which were included in that quarter’s balance sheet restructuring. (See Significant Items).

• $2.3 million, or 12%, increase in other service charges and fees, reflecting higher debit card volume.

2007 Fourth Quarter versus 2007 Third Quarter

     Non-interest income decreased $34.1 million from the 2007 third quarter.

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Table 7 — Non-interest Income — 4Q07 vs. 3Q07

	Fourth			Third
	Quarter			Quarter			Change
(in millions)	2007			2007			Amount			%
Non-interest Income
Service charges on deposit accounts	$	81.3		$	78.1		$	3.2			4	%
Trust services		35.2			33.6			1.6			5
Brokerage and insurance income		30.3			28.8			1.5			5
Other service charges and fees		21.9			21.0			0.8			4
Bank owned life insurance income		13.3			14.8			(1.6	)		(11	)
Mortgage banking income		3.7			9.6			(5.9	)		(62	)
Securities losses		(11.6	)		(13.2	)		1.6			(12	)
Other income		(3.5	)		31.8			(35.3	)	NM
Total non-interest income	$	170.6		$	204.7		$	(34.1	)		(17	)%

     This $34.1 million, or 17%, decline reflected:

• $35.3 million decline in other income, reflecting the current quarter’s $34.0 million loss on loans held for sale and $9.4 million of equity investment losses in the current quarter compared with $4.4 million of such losses in the prior quarter, partially offset by higher derivative trading fees and automobile operating lease income.

• $5.9 million, or 62%, decline in mortgage banking income, reflecting the current quarter’s $11.8 million net negative MSR valuation impact, compared with a $6.0 million net negative MSR valuation impact in the prior quarter.

Partially offset by:

• $3.2 million, or 4%, increase in service charges on deposit accounts, primarily reflecting higher commercial service charge income.

• $1.6 million, or 5%, increase in trust services income, reflecting higher Huntington Fund fees due to asset growth, growth in shareholder servicing fees, and seasonal factors.

• $1.5 million, or 5%, increase in brokerage and insurance income, reflecting higher insurance income, including the benefit from the fourth quarter acquisition of the Archer-Meek-Weiler agency, as well as higher brokerage fees.

Non-interest Expense

2007 Fourth Quarter versus 2006 Fourth Quarter

     Non-interest expense increased $171.8 million from the year-ago quarter. The $136.6 million of merger-related expenses and $44.4 million of merger costs drove the increase, as non-merger-related expenses declined. Table 8 details the $171.8 million increase in reported total non-interest expense.

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Table 8 — Non-interest Expense — 4Q07 vs. 4Q06

	Fourth Quarter				Change					Merger		Merger		Non-merger Related
(in millions)	2007		2006		Amount		%			Related		Costs		Amount			% (1)
Non-interest Expense
Personnel costs	$	214.9	$	137.9	$	76.9		56	%	$	68.3	$	22.8	$	(14.1	)		(6	)%
Outside data processing and other services		39.1		20.7		18.4		89			12.3		7.0		(0.8	)		(2	)
Net occupancy		26.7		17.3		9.4		55			10.2		1.2		(2.0	)		(7	)
Equipment		22.8		18.2		4.7		26			4.8		0.2		(0.3	)		(1	)
Amortization of intangibles		20.2		3.0		17.2	NM				17.4		—		(0.3	)		(1	)
Marketing		16.2		6.2		10.0	NM				4.4		6.9		(1.3	)		(7	)
Professional services		14.5		9.0		5.5		61			2.7		3.4		(0.6	)		(4	)
Telecommunications		8.5		4.6		3.9		84			2.2		1.0		0.7			9
Printing and supplies		6.6		3.6		3.0		83			1.4		1.0		0.6			9
Other expense		70.1		47.3		22.8		48			13.0		0.9		8.9			14
Total non-interest expense	$	439.6	$	267.8	$	171.8		64	%	$	136.6	$	44.4	$	(9.3	)		(2	)%

(1) = non-merger related / (prior period + merger-related)

     The $9.3 million, or 2%, non-merger-related decline reflected:

• $14.1 million, or 6%, decline in personnel expense, reflecting merger efficiencies including the impact of the reduction of 828, or 6%, full-time equivalent staff during the 2007 third quarter and a 387, or 3%, reduction during the 2007 fourth quarter.

• $2.0 million, or 7%, decline in net occupancy expense, reflecting merger efficiencies.

Partially offset by:

• $8.9 million, or 14%, increase in other expense. The increase reflected the current quarter’s $24.9 million VISA^® indemnification charge and $8.9 million of increases to litigation reserves on existing cases, partially offset by a $10.0 million reduction in Huntington charitable foundation contributions and merger efficiencies.

2007 Fourth Quarter versus 2007 Third Quarter

     Non-interest expense increased $54.0 million, or 14%, from the 2007 third quarter, of which $12.2 million represented higher merger costs. Table 9 details the $54.0 million increase in reported total non-interest expense.

Table 9 — Non-interest Expense — 4Q07 vs. 3Q07

	Fourth		Third
	Quarter		Quarter		Change						Merger			Non-merger Related
(in millions)	2007		2007		Amount			%			Costs			Amount			% (1)
Non-interest Expense
Personnel costs	$	214.9	$	202.1	$	12.7			6	%	$	15.0		$	(2.3	)		(1	)%
Outside data processing and other services		39.1		40.6		(1.5	)		(4	)		0.2			(1.6	)		(4	)
Net occupancy		26.7		33.3		(6.6	)		(20	)		(6.2	)		(0.4	)		(1	)
Equipment		22.8		23.3		(0.5	)		(2	)		(1.6	)		1.1			5
Amortization of intangibles		20.2		19.9		0.2			1			—			0.2			1
Marketing		16.2		13.2		3.0			23			1.9			1.0			7
Professional services		14.5		11.3		3.2			28			1.9			1.3			10
Telecommunications		8.5		7.3		1.2			17			0.8			0.5			6
Printing and supplies		6.6		4.7		1.9			39			0.6			1.3			24
Other expense		70.1		29.8		40.4		NM				(0.4	)		40.7		NM
Total non-interest expense	$	439.6	$	385.6	$	54.0			14	%	$	12.2		$	41.8			11	%

(1) = non-merger related / (prior period + merger-related)

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     The $41.8 million, or 11%, non-merger-related increase reflected a $40.7 million increase in other expense. Contributing to the increase in other expense was the current quarter’s $24.9 million VISA^® indemnification charge, $8.9 million of increases to litigation reserves on existing cases, and higher automobile operating lease expense. In addition, the third quarter other expense was reduced by a $3.2 million debt extinguishment gain.

Income Taxes

     The provision for income taxes in the 2007 fourth quarter was a benefit of $158.9 million. For the full year, the provision for income taxes was a benefit of $52.5 million. The effective tax rate for the 2007 fourth quarter was a tax benefit of 39.9%.

Credit Quality

     In addition to the negative impact from the Franklin restructuring on credit quality performance measures, there was also deterioration in non-Franklin-related loans. This reflected the negative impact of the continued economic weakness in our Midwest markets, most notably among our borrowers in eastern Michigan and northern Ohio, and within the residential real estate development portfolio. Consumer loans also saw negative trends impacted by the softening economy, but less so. These factors resulted in significantly higher absolute and relative levels of net charge-offs (NCOs), non-accrual loans (NALs), and non-performing assets (NPAs). To maintain the adequacy of our reserves, there was a commensurate significant increase in the provision for credit losses (see Provision for Credit Losses discussion) in order to increase the absolute and relative levels of our allowances for loan and lease losses (ACL).

     Since the Franklin restructuring impacted credit performance metrics significantly, tables in the discussion that follows detail the Franklin impact on those metrics, as well as the performance of the remaining non-Franklin-related loans and leases.

Net Charge-Offs

     Total net charge-offs for the 2007 fourth quarter were $377.9 million, or an annualized 3.77% of average total loans and leases, including $308.5 million due to the Franklin restructuring. There were no Franklin-related net charge-offs in the third quarter. The remaining $69.4 million of net charge-offs that were non-Franklin-related represented an annualized 0.72% of related loans. This compared with net charge-offs of $23.0 million, or an annualized 0.35%, in the year-ago quarter, and $47.1 million, or an annualized 0.47%, in the 2007 third quarter. Table 10 details net charge-off performance:

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Table 10 — Franklin Impact on Net Charge-offs

(in millions)	Fourth Quarter 2007									Third Quarter 2007			Fourth Quarter 2006
							Non-
	Reported			Franklin			Franklin
Net charge-offs (recoveries) by loan and lease type:
Middle-market C&I	$	318.5		$	308.5		$	10.0		$	7.8		$	(1.8	)
Total commercial		344.6			308.5			36.1			17.3			6.8
Total net charge-offs		377.9			308.5			69.4			47.1			23.0
Net charge-offs (recoveries) — annualized percentages:
Middle-market C&I		12.30	%		81.08	%		0.45	%		0.30	%		(0.12	)%
Total commercial		6.18			81.08			0.70			0.31			0.22
Total net charge-offs		3.77	%		81.08	%		0.72	%		0.47	%		0.35	%
Average Loans and Leases
Middle-market C&I	$	10,359		$	1,522		$	8,837		$	10,301		$	5,882
Total commercial		22,323			1,522			20,801			22,016			12,312
Total loans and leases		40,109			1,522			38,587			39,828			26,299

     Total commercial net charge-offs in the 2007 fourth quarter were $344.6 million, or an annualized 6.18%. Non-Franklin-related total commercial net charge-offs in the current quarter were $36.1 million and represented an annualized 0.70% of related loans. This was higher than an annualized 0.22% in the year-ago period, and the annualized 0.31% in the prior quarter.

     Total consumer net charge-offs in the current quarter were $33.3 million, or an annualized 0.75%. This was higher than an annualized 0.46% in the year-ago period and 0.67% in the prior quarter. Automobile loan and lease net charge-offs were $10.4 million, or an annualized 0.96% in the fourth quarter, up from 0.54% in the year-ago period and 0.73% in the prior period. This increase reflected both the impact of the Sky Financial portfolio, as well as seasonal factors. Residential mortgage net charge-offs were $3.3 million, or an annualized 0.25% of related average balances. This was higher than an annualized 0.19% in the year-ago quarter, but down from an annualized 0.32% in the prior quarter. Home equity net charge-offs in the 2007 fourth quarter were $12.2 million, or an annualized 0.67%, up from an annualized 0.47%, in the year-ago quarter and an annualized 0.58% in the prior quarter. The economic weakness in our markets, most notably among our borrowers in eastern Michigan and northern Ohio, continue to impact residential mortgage and home equity net charge-offs.

Non-accrual Loans and Non-performing Assets

     Non-accrual loans (NALs) were $319.8 million at December 31, 2007, and represented 0.80% of related assets. This compared with $144.1 million, or 0.55%, at the end of the year-ago period, and $249.4 million, or 0.62%, at September 30, 2007. The $70.4 million, or 28%, increase in NALs from the end of the prior quarter reflected a $47.0 million increase in middle market commercial real estate loan NALs, reflecting the continued softness in the residential real estate development markets, particularly among our borrowers in eastern Michigan and northern Ohio, as well as increases in small business and residential mortgage NALs due to the continued overall economic weakness in our markets.

     Non-performing assets (NPAs), which include NALs, were $1.660 billion at December 31, 2007. This compared with $193.6 million at the end of the year-ago period and $435.0 million at September 30, 2007. The $1.225 billion increase in NPAs from the end of the prior quarter

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reflected:

• $1.187 billion of restructured Franklin loans. Though classified as NPAs, these restructured loans are current and accruing interest and are expected to continue to perform per terms of the restructuring agreement. The Franklin loans are expected to be categorized as performing loans in our regulatory reporting.

• $6.4 million, or 9%, increase in other real estate owned.

Partially offset by:

• $27.0 million reduction in impaired loans held for sale, reflecting a decline of $73.6 million due primarily to sales, as well as impairment and other reductions. The declines were partially offset by $46.6 million of new loans transferred to loans held for sale.

• $11.9 million decline in other NPAs, which represent certain investment securities backed by mortgage loans, with the reduction reflecting the current quarter’s $11.6 million of investment securities impairment charge.

     The over 90-day delinquent, but still accruing, ratio was 0.35% at December 31, 2007, up from 0.23% at the end of the year-ago quarter and from 0.29% at September 30, 2007.

Allowances for Credit Losses (ACL)

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

     At December 31, 2007, the ALLL was $578.4 million, up from $272.1 million a year ago and from $454.8 million at September 30, 2007. Expressed as a percent of period-end loans and leases, the ALLL ratio at December 31, 2007, was 1.44%, up from 1.04% a year ago and from 1.14% at September 30, 2007. The $123.7 million increase from the end of the prior quarter, included $97.6 million related to Franklin, which increased its specific ALLL to $115.3 million. The remaining $26.1 million increase in the ALLL from the end of the prior quarter primarily reflected declining credit quality in the residential real estate development portfolio.

     The level of required loan loss reserves is determined using a highly quantitative methodology, which determines the required levels for both the transaction reserve and economic reserve components. Table 11 shows the change in the ALLL ratio and each reserve component for the 2007 fourth and third quarters and the 2006 fourth quarter.

Table 11 — Components of ALLL as Percent of Total Loans and Leases

										4Q07 change from
	4Q07			3Q07			4Q06			3Q07			4Q06
Transaction reserve (1)		1.27	%		0.97	%		0.86	%		0.30	%		0.41	%
Economic reserve		0.17			0.17			0.18			(0.00	)		(0.01	)
Total ALLL		1.44	%		1.14	%		1.04	%		0.30	%		0.40	%

(1) Includes specific reserve

     The ALLL as a percent of NALs was 181% at December 31, 2007, down from 189% a year ago and from 182% at September 30, 2007. At December 31, 2007, the AULC was $66.5 million, up from $40.2 million at the end of the year-ago quarter, and from $58.2 million at

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September 30, 2007.

     On a combined basis, the ACL as a percent of total loans and leases at December 31, 2007, was 1.61%, up from 1.19% a year ago and from 1.28% at September 30, 2007. The ACL as a percent of NALs was 202% at December 31, 2007, down from 217% a year ago and from 206% at September 30, 2007.

Capital

     At December 31, 2007, the tangible equity to assets ratio was 5.08%, down from 6.93% a year ago, and from 5.70% at September 30, 2007. Of the 62 basis point decline from September 30, 2007, 46 basis points reflected the negative impact of the current quarter’s net loss on equity. At December 31, 2007, the tangible equity to risk-weighted assets ratio was 5.70%, down from 7.72% at the end of the year-ago quarter, and from 6.46% at September 30, 2007. These decreases also primarily reflected the negative impact on equity from the current quarter’s net loss. The estimated regulatory Tier 1 and Total risk-based capital ratios at December 31, 2007, were 7.55% and 10.89%, respectively, and remained well above the regulatory “well capitalized” minimums of 6.0% and 10.0%, respectively. The “well capitalized” level is the highest regulatory capital designation.

     No shares were repurchased during the quarter. Though there are currently 3.9 million shares remaining available under the current authorization announced April 20, 2006, no future share repurchases are contemplated.

2008 OUTLOOK

     When earnings guidance is given, it is our 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 selected items where the timing and financial impact is uncertain until the impact can be reasonably forecasted, as well as potential unusual or one-time items.

     Our expectation for 2008 is that the Midwest economic environment will continue to be negatively impacted by weaknesses in the residential real estate development markets and softness in certain manufacturing sectors. How much these factors will affect banking activities and overall credit quality trends is unknown. However, it is our expectation that the greatest impact will continue to be among our borrowers in eastern Michigan and northern Ohio markets. Given the market’s outlook for interest rates, we will continue to target our interest rate risk position at our customary relatively neutral position. Our net interest margin, however, will continue to be impacted by competitive pricing in our markets.

          The assumptions listed below form the basis for our 2008 full year earnings outlook. Growth rates when shown are based on a comparison to fourth quarter 2007 balances.

• Annualized revenue growth of low single digit range reflecting:

• Net interest margin of around 3.35%, reflecting the impact of the Franklin charge-off and restructuring, as well as continued competitive market pricing

• Annualized total loan growth in the low single digit range, with commercial loans in the mid single digit range and consumer loans being flat

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• Annualized core deposit growth in the low single digit range

• Annualized non-interest income growth in the mid single digit range

• Full year non-interest expense level that is down slightly from the annualized fourth quarter 2007 non-interest expense level, after adjustment for the significant items noted earlier. Merger costs for 2008 of $5-$10 million are excluded from this assumption and are expected to be incurred primarily in the first quarter.

• Modest increase in the ALLL ratio throughout the year, and charge-offs expected in the 60-65 basis point range. This higher level of charge-offs reflects the current economic outlook for our markets.

• No significant net market-related gains or losses

• No share repurchases

• The effective tax rate for 2008 is expected to be in a range of 25%-28%.

     With the above assumptions, earnings for 2008 are targeted for $1.57-$1.62 per common share, excluding merger costs.

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 www.huntington-ir.com or through a dial-in telephone number at 800-223-1238; conference ID 30145719. Slides will be available at www.huntington-ir.com just prior to 1:00 p.m. (Eastern Time) on January 17, 2008 for review during the call. A replay of the webcast will be archived in the Investor Relations section of Huntington’s web site www.huntington.com. A telephone replay will be available two hours after the completion of the call through January 31, 2008 at 800-642-1687; conference ID 30145719.

Forward-looking Statement

     This press release contains certain forward-looking statements, including certain plans, expectations, goals, projections, and statements, which are subject to numerous assumptions, risks, and uncertainties. Actual results could differ materially from those contained or implied by such statements for a variety of factors including: (1) deterioration in the loan portfolio could be worse than expected due to a number of factors such as the underlying value of the collateral could prove less valuable than otherwise assumed and assumed cash flows may be worse than expected; (2) merger benefits including expense efficiencies and revenue synergies may not be fully realized and/or within the expected timeframes; (3) merger disruptions may make it more difficult to maintain relationships with clients, associates, or suppliers; (4) changes in economic conditions; (5) movements in interest rates; (6) competitive pressures on product pricing and services; (7) success and timing of other business strategies; (8) the nature, extent, and timing of governmental actions and reforms; and (9) extended disruption of vital infrastructure. Additional factors that could cause results to differ materially from those described above can be found in Huntington’s 2006 Annual Report on Form 10-K, and documents subsequently filed by Huntington with the Securities and Exchange Commission. All forward-looking statements included in this release are based on information available at the time of the release. Huntington assumes no obligation to update any forward-looking statement.

Basis of Presentation

Use of Non-GAAP Financial Measures

     This earnings 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, the Quarterly Financial Review supplement to

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this earnings release, or the 2007 fourth quarter earnings conference call slides, which can be found on Huntington’s website at huntington-ir.com.

Significant Items

     Certain components of the Income Statement are naturally subject to more volatility than others. As a result, analysts/investors may view such items differently in their assessment of performance compared with their expectations and/or any implications resulting from them on their assessment of future performance trends. It is a general practice of analysts/investors to try and determine their perception of what “underlying” or “core” earnings performance is in any given reporting period, as this typically forms the basis for their estimation of performance in future periods.

     Therefore, Management believes the disclosure of certain “Significant Items” in current and prior period results aids analysts/investors in better understanding corporate performance so that they can ascertain for themselves what, if any, items they may wish to include/exclude from their analysis of performance; i.e., within the context of determining how that performance differed from their expectations, as well as how, if at all, to adjust their estimates of future performance accordingly.

     To this end, Management has adopted a practice of listing as “Significant Items” in its external disclosure documents (e.g., earnings press releases, investor presentations, Forms 10-Q and 10-K) individual and/or particularly volatile items that impact the current period results by $0.01 per share or more. (The one exception is the provision for credit losses discussed below). Such “Significant Items” generally fall within one of two categories: timing differences and other items.

Timing Differences

     Part of the company’s regular business activities are by their nature volatile; e.g. capital markets income, gains and losses on the sale of loans, etc. While such items may generally be expected to occur within a full-year reporting period, they may vary significantly from period to period. Such items are also typically a component of an Income Statement line item and not, therefore, readily discernable. By specifically disclosing such items, analysts/investors can better assess how, if at all, to adjust their estimates of future performance.

Other Items

     From time to time, an event or transaction might significantly impact revenues, expenses, or taxes in a particular reporting period that are judged to be one-time, short-term in nature, and/or materially outside typically expected performance. Examples would be (1) merger costs as they typically impact expenses for only a few quarters during the period of transition; e.g., restructuring charges, asset valuation adjustments, etc.; (2) changes in an accounting principle; (3) one-time tax assessments/refunds; (4) a large gain/loss on the sale of an asset; (5) outsized commercial loan net charge-offs related to fraud; etc. In addition, for the periods covered by this release, the impact of the Franklin restructuring is deemed to be a significant item due to its unusually large size and because it was acquired in the Sky Financial merger and thus it is not representative of our typical underwriting criteria. By disclosing such items, analysts/investors can better assess how, if at all, to adjust their estimates of future performance.

Provision for Credit Losses

     While the provision for credit losses may vary significantly between periods, Management typically excludes it from the list of “Significant Items”, unless in Management’s view, there is a significant specific credit(s), which is causing distortion in the period.

     Provision expense is always an assumption in analyst/investor expectations of earnings and there is apparent agreement among them that provision expense is included in their definition of “underlying” or “core” earnings unlike “timing differences” or “other items”. In addition, provision expense is an individual Income Statement line item so its value is easily known and, except in very rare situations, the amount in any reporting period always exceeds $0.01 per share. In addition, the factors influencing the level of provision expense receive detailed additional disclosure and analysis so that analysts/investors have information readily available to understand the underlying factors that result in the reported provision expense amount.

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     In addition, provision expense trends usually increase/decrease in a somewhat orderly pattern in conjunction with credit quality cycle changes; i.e., as credit quality improves provision expense generally declines and vice versa. While they may have differing views regarding magnitude and/or trends in provision expense, every analyst and most investors incorporate a provision expense estimate in their financial performance estimates.

Other Exclusions

     “Significant Items” for any particular period are not intended to be a complete list of items that may significantly impact future periods. A number of factors, including those described in Huntington’s 2006 Annual Report on Form 10-K and other factors described from time to time in Huntington’s other filings with the Securities and Exchange Commission, could significantly impact future periods.

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

     The merger with Sky Financial Group Inc. (Sky Financial) was completed on July 1, 2007. At the time of acquisition, Sky Financial had assets of $16.8 billion, including $13.3 billion of loans, and core deposits of $12.0 billion. Sky Financial results were fully included in our consolidated results for the full 2007 third quarter, and will impact all quarters thereafter. As a result, performance comparisons of 2007 fourth quarter and 2007 full-year performance to comparable prior periods are affected, as Sky Financial results were not included in the prior periods. Comparisons of the 2007 fourth quarter and 2007 full-year performance compared with prior periods are impacted as follows:

• Increased reported average balance sheet, revenue, expense, and the absolute level of certain credit quality results (e.g., amount of net charge-offs).

• Increased reported non-interest expense items because of costs incurred as part of merger integration activities, most notably employee retention bonuses, outside programming services related to systems conversions, occupancy expenses, and marketing expenses related to customer retention initiatives. These net merger costs were $44.4 million in the 2007 fourth quarter.

     Given the significant impact of the merger on reported 2007 results, management believes that an understanding of the impacts of the merger is necessary to understand better underlying performance trends. When comparing post-merger period results to pre-merger periods, the following terms are used when discussing financial performance:

• “Merger-related” refers to amounts and percentage changes representing the impact attributable to the merger.

• “Merger costs” represent non-interest expenses primarily associated with merger integration activities.

• “Non-merger-related” refers to performance not attributable to the merger and include:

• “Merger efficiencies”, which represent non-interest expense reductions realized as a result of the merger.

     The following methodology has been implemented to estimate the approximate effect of the Sky Financial merger used to determine “merger-related” impacts.

Balance Sheet Items

     For loans and leases, as well as core deposits, Sky Financial’s balances as of June 30, 2007, adjusted for consolidating, merger, and purchase accounting adjustments, are used in the comparison. To estimate the impact on 2007 fourth quarter average balances, it was assumed that the June 30, 2007 balances, as adjusted, remained constant throughout the 2007 third quarter and will remain constant in all subsequent periods.

Income Statement Items

     For income statement line items, Sky Financial’s actual results for the first six months of 2007, adjusted for the impact of unusual items and purchase accounting adjustments, were determined. This six-month adjusted amount was divided by two to estimate a quarterly amount. This results in an approximate quarterly impact as the methodology does not adjust for any unusual items or seasonal factors in Sky Financial’s 2007 six-month results. Nor does it consider any revenue or expense synergies realized since the merger date. This same estimated amount will also be used in all subsequent quarterly reporting periods. The one exception to this methodology of holding

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the estimated quarterly impact constant relates to the amortization of intangibles expense where the amount is known and is therefore used.

     Table 11 below provides detail of changes to selected reported results to quantify the impact of the Sky Financial merger using this methodology:

Table 11 — Estimated Impact of Sky Financial Merger

2007 Fourth Quarter versus 2006 Fourth Quarter

	Fourth Quarter						Change						Merger				Non-merger Related
(in millions)	2007			2006			Amount			%			Related				Amount			%(1)
Average Loans and Leases
Total commercial	$	22,323		$	12,312		$	10,011			81.3	%	$	8,746			$	1,265			6.0	%
Automobile loans and leases		4,324			3,949			375			9.5			432				(57	)		(1.3	)
Home equity		7,297			4,973			2,324			46.7			2,385				(61	)		(0.8	)
Residential mortgage		5,437			4,635			802			17.3			1,112				(310	)		(5.4	)
Other consumer		728			430			298			69.3			143				155			27.1
Total consumer		17,786			13,987			3,799			27.2			4,072				(273	)		(1.5	)
Total loans and leases	$	40,109		$	26,299		$	13,810			52.5	%	$	12,818			$	992			2.5	%
(1) = non-merger related / (prior period + merger-related)
Average Deposits
Demand deposits — non-interest bearing	$	5,218		$	3,580		$	1,638			45.8	%	$	1,829			$	(191	)		(3.5	)%
Demand deposits — interest bearing		3,929			2,219			1,710			77.1			1,460				250			6.8
Money market deposits		6,845			5,548			1,297			23.4			996				301			4.6
Savings and other domestic deposits		4,813			2,849			1,964			68.9			2,594				(630	)		(11.6	)
Core certificates of deposit		10,674			5,380			5,294			98.4			4,630				664			6.6
Total core deposits		31,479			19,576			11,903			60.8			11,509				394			1.3
Other deposits		6,196			5,132			1,064			20.7			1,342				(278	)		(4.3	)
Total deposits	$	37,675		$	24,708		$	12,967			52.5	%	$	12,851			$	116			0.3	%
(1) = non-merger related / (prior period + merger-related)
	Fourth Quarter						Change						Merger		Merger		Non-merger Related
(in millions)	2007			2006			Amount			%			Related		Costs		Amount			%(1)
Net interest income — FTE	$	387,584		$	262,104		$	125,480			47.9	%	$	151,592			$	(26,112	)		(6.3	)%
Non-interest Income
Service charges on deposit accounts	$	81,276		$	48,548		$	32,728			67.4	%	$	24,110			$	8,618			11.9	%
Trust services		35,198			23,511			11,687			49.7			7,009				4,678			15.3
Brokerage and insurance income		30,288			14,600			15,688		NM				17,061				(1,373	)		(4.3	)
Other service charges and fees		21,891			13,784			8,107			58.8			5,800				2,307			11.8
Bank owned life insurance income		13,253			10,804			2,449			22.7			1,807				642			5.1
Mortgage banking income		3,702			6,169			(2,467	)		(40.0	)		6,256				(8,723	)		(70.2	)
Securities losses		(11,551	)		(15,804	)		4,253			(26.9	)		283				3,970			(25.6	)
Other income		(3,500	)		38,994			(42,494	)	NM				6,390				(48,884	)	NM
Total non-interest income	$	170,557		$	140,606		$	29,951			21.3	%	$	68,716			$	(38,765	)		(18.5	)%
(1) = non-merger related / (prior period + merger-related)
Non-interest Expense
Personnel costs	$	214,850		$	137,944		$	76,906			55.8	%	$	68,250	$	22,780	$	(14,124	)		(6.2	)%
Outside data processing and other services		39,130			20,695			18,435			89.1			12,262		7,005		(832	)		(2.1	)
Net occupancy		26,714			17,279			9,435			54.6			10,184		1,204		(1,953	)		(6.8	)
Equipment		22,816			18,151			4,665			25.7			4,799		175		(309	)		(1.3	)
Amortization of intangibles		20,163			2,993			17,170		NM				17,431		—		(261	)		(1.3	)
Marketing		16,175			6,207			9,968		NM				4,361		6,915		(1,308	)		(7.5	)
Professional services		14,464			8,958			5,506			61.5			2,707		3,447		(648	)		(4.3	)
Telecommunications		8,513			4,619			3,894			84.3			2,224		954		716			9.2
Printing and supplies		6,594			3,610			2,984			82.7			1,374		1,043		567			9.4
Other expense		70,133			47,334			22,799			48.2			13,048		893		8,858			14.5
Total non-interest expense	$	439,552		$	267,790		$	171,762			64.1	%	$	136,640	$	44,416	$	(9,294	)		(2.1	)%
(1) = non-merger related / (prior period + merger-related)

-18-

2007 Fourth Quarter versus 2007 Third Quarter

	Fourth		Third
	Quarter		Quarter		Change
(in millions)	2007		2007		Amount			%
Average Loans and Leases
Total commercial	$	22,323	$	22,016	$	307			1.4	%
Automobile loans and leases		4,324		4,354		(30	)		(0.7	)
Home equity		7,297		7,468		(171	)		(2.3	)
Residential mortgage		5,437		5,456		(19	)		(0.3	)
Other consumer		728		534		194			36.3
Total consumer		17,786		17,812		(26	)		(0.1	)
Total loans and leases	$	40,109	$	39,828	$	281			0.7	%
(1) = non-merger related / (prior period + merger-related)
Average Deposits
Demand deposits — non-interest bearing	$	5,218	$	5,384	$	(166	)		(3.1	)%
Demand deposits — interest bearing		3,929		3,808		121			3.2
Money market deposits		6,845		6,869		(24	)		(0.3	)
Savings and other domestic deposits		4,813		5,043		(230	)		(4.6	)
Core certificates of deposit		10,674		10,425		249			2.4
Total core deposits		31,479		31,529		(50	)		(0.2	)
Other deposits		6,196		6,123		73			1.2
Total deposits	$	37,675	$	37,652	$	23			0.1	%

	Fourth			Third
	Quarter			Quarter			Change						Merger			Non-merger Related
(in thousands)	2007			2007			Amount			%			Costs			Amount			% (1)
Net interest income — FTE	$	387,584		$	415,345		$	(27,761	)		(6.7	)%				$	(27,761	)		(6.7	)%
Non-interest Income
Service charges on deposit accounts	$	81,276		$	78,107		$	3,169			4.1	%				$	3,169			4.1	%
Trust services		35,198			33,562			1,636			4.9						1,636			4.9
Brokerage and insurance income		30,288			28,806			1,482			5.1						1,482			5.1
Other service charges and fees		21,891			21,045			846			4.0						846			4.0
Bank owned life insurance income		13,253			14,847			(1,594	)		(10.7	)					(1,594	)		(10.7	)
Mortgage banking income		3,702			9,629			(5,927	)		(61.6	)					(5,927	)		(61.6	)
Securities losses		(11,551	)		(13,152	)		1,601			(12.2	)					1,601			(12.2	)
Other income		(3,500	)		31,830			(35,330	)	NM							(35,330	)	NM
Total non-interest income	$	170,557		$	204,674		$	(34,117	)		(16.7	)%				$	(34,117	)		(16.7	)%
(1) = non-merger related / (prior period + merger-related)
Non-interest Expense
Personnel costs	$	214,850		$	202,148		$	12,702			6.3	%	$	15,030		$	(2,328	)		(1.1	)%
Outside data processing and other services		39,130			40,600			(1,470	)		(3.6	)		151			(1,621	)		(4.0	)
Net occupancy		26,714			33,334			(6,620	)		(19.9	)		(6,236	)		(384	)		(1.4	)
Equipment		22,816			23,290			(474	)		(2.0	)		(1,617	)		1,143			5.3
Amortization of intangibles		20,163			19,949			214			1.1			—			214			1.1
Marketing		16,175			13,186			2,989			22.7			1,949			1,040			6.9
Professional services		14,464			11,273			3,191			28.3			1,892			1,299			9.9
Telecommunications		8,513			7,286			1,227			16.8			758			469			5.8
Printing and supplies		6,594			4,743			1,851			39.0			586			1,265			23.7
Other expense		70,133			29,754			40,379		NM				(357	)		40,736		NM
Total non-interest expense	$	439,552		$	385,563		$	53,989			14.0	%	$	12,156		$	41,833			10.5	%
(1) = non-merger related / (prior period + merger-related)

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 and

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

NM or nm

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

About Huntington

     Huntington Bancshares Incorporated is a $55 billion regional bank holding company headquartered in Columbus, Ohio. Huntington has more than 142 years of serving the financial needs of its customers. Huntington’s banking subsidiary, The Huntington National Bank, provides innovative retail and commercial financial products and services through over 600 regional banking offices in Indiana, Kentucky, Michigan, Ohio, Pennsylvania, 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 almost 1,400 ATMs. Selected financial service activities are also conducted in other states including: Dealer Sales offices in Arizona, Florida, Georgia, Nevada, New Jersey, New York, North Carolina, South Carolina, and Tennessee; Private Financial and Capital Markets Group offices in Florida; and Mortgage Banking offices in Maryland and New Jersey. Sky Insurance offers retail and commercial insurance agency services in Ohio, Pennsylvania, Michigan, Indiana, and West Virginia. International banking services are made available through the headquarters office in Columbus, a limited purpose office located in the Cayman Islands, and another located in Hong Kong.

###

-20-

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

	2007					2006			Percent Changes vs.
(in thousands, except per share amounts)	Fourth			Third		Fourth			3Q07			4Q06
Net interest income	$	382,933		$	409,633	$	257,989			(6.5)	%		48.4	%
Provision for credit losses		512,082			42,007		15,744			N.M.			N.M.
Non-interest income		170,557			204,674		140,606			(16.7	)		21.3
Non-interest expense		439,552			385,563		267,790			14.0			64.1
(Losses) Income before income taxes		(398,144	)		186,737		115,061			N.M.			N.M.
(Benefit) Provision for income taxes		(158,864	)		48,535		27,347			N.M.			N.M.
Net (Loss) Income	$	(239,280	)	$	138,202	$	87,714			N.M.	%		N.M.	%
Net (losses) income per common share — diluted	$	(0.65	)	$	0.38	$	0.37			N.M.	%		N.M.	%
Cash dividends declared per common share		0.265			0.265		0.250			—			6.0
Book value per common share at end of period		16.24			17.08		12.80			(4.9	)		26.9
Tangible book value per common share at end of period		7.13			8.10		10.21			(12.0	)		(30.2	)
Average common shares — basic		366,119			365,895		236,426			0.1			54.9
Average common shares — diluted		366,119			368,280		239,881			(0.6	)		52.6
Return on average assets		(1.74	)%		1.02		0.98	%
Return on average shareholders’ equity		(15.3	)		8.8		11.3
Return on average tangible shareholders’ equity (2)		(32.4	)		20.9		14.5
Net interest margin (3)		3.26			3.52		3.28
Efficiency ratio (4)		73.5			57.7		63.3
Effective tax rate (benefit)		(39.9	)		26.0		23.8
Average loans and leases	$	40,109,361		$	39,827,422	$	26,300,262			0.7			52.5
Average loans and leases — linked quarter annualized growth rate.		2.8	%		N.M.		(0.2	)%
Average earning assets	$	47,274,130		$	46,870,957	$	31,673,902			0.9			49.3
Average total assets		54,480,021			53,970,093		35,469,530			0.9			53.6
Average core deposits (5)		31,479,143			31,529,372		19,576,197			(0.2	)		60.8
Average core deposits — linked quarter annualized growth rate (5)		(0.6	)%		N.M.		(1.0	)%
Average shareholders’ equity	$	6,211,206		$	6,205,783	$	3,084,345			0.1			N.M.
Total assets at end of period		54,697,468			55,303,927		35,329,019			(1.1	)		54.8
Total shareholders’ equity at end of period		5,949,140			6,249,674		3,014,326			(4.8	)		97.4
Net charge-offs (NCOs)		377,907			47,106		22,969			N.M.			N.M.
NCOs as a % of average loans and leases		3.77	%		0.47		0.35	%
Nonaccrual loans and leases (NALs)	$	319,771		$	249,396	$	144,133			28.2			N.M.
NAL ratio (6)		0.80	%		0.62		0.55	%
Allowance for loan and lease losses (ALLL) as a % of total loans and leases at the end of period		1.44			1.14		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		1.61			1.28		1.19
ALLL as a % of NALs		181			182		189
Tier 1 risk-based capital ratio (7)		7.55			8.35		8.93
Total risk-based capital ratio (7)		10.89			11.58		12.79
Tier 1 leverage ratio (7)		6.77			7.57		8.00
Average equity / assets		11.40			11.50		8.70
Tangible equity / assets (8)		5.08			5.70		6.93

N.M., not a meaningful value.
(1)	Comparisons for presented periods are impacted by a number of factors. Refer to ‘Significant Items Influencing Financial Performance Comparisons’.
(2)	Net income less expense for amortization of intangibles (net of tax) for the period divided by average tangible common shareholders’ equity. Average tangible common shareholders’ equity equals average total common shareholders’ equity less intangible assets and goodwill. Other intangible assets are net of deferred tax.
(3)	On a fully taxable equivalent (FTE) basis assuming a 35% tax rate.
(4)	Non-interest expense less amortization of intangibles ($20.2 million for 4Q 2007, $19.9 million for 3Q 2007, and $3.0 million for 4Q 2006) divided by the sum of FTE net interest income and non-interest income excluding securities gains (losses).
(5)	Includes non-interest bearing and interest bearing demand deposits, money market deposits, savings and other domestic time deposits, and core certificates of deposit.
(6)	Nonaccruing loans and leases (NALs) divided by total loans and leases.
(7)	December 31, 2007 figures are estimated. Based on an interim decision by the banking agencies on December 14, 2006, Huntington has excluded the impact of adopting Statement 158 from the regulatory capital calculations.
(8)	At end of period. Tangible equity (total equity less goodwill and other intangible assets) divided by tangible assets (total assets less goodwill and other intangible assets). Other intangible assets are net of deferred tax.

- 21 -

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

	Year Ended December 31,						Change
(in thousands, except per share amounts)	2007			2006			Amount			Percent
Net interest income	$	1,301,512		$	1,019,177		$	282,335			27.7	%
Provision for credit losses		643,628			65,191			578,437			N.M.
Non-interest income		676,603			561,069			115,534			20.6
Non-interest expense		1,311,844			1,000,994			310,850			31.1
Income before income taxes		22,643			514,061			(491,418	)		(95.6	)
(Benefit) Provision for income taxes		(52,526	)		52,840			(105,366	)		N.M.
Net Income	$	75,169		$	461,221		$	(386,052	)		(83.7)	%
Net Income per common share — diluted	$	0.25		$	1.92		$	(1.67	)		(87.0	)%
Cash dividends declared per common share		1.060			1.000			0.06			6.0
Average common shares — basic		300,908			236,699			64,209			27.1
Average common shares — diluted		303,455			239,920			63,535			26.5
Return on average assets		0.17	%		1.31	%
Return on average shareholders’ equity		1.6			15.7
Return on average tangible shareholders’ equity (2)		4.0			19.7
Net interest margin (3)		3.36			3.29
Efficiency ratio (4)		62.5			59.4
Effective tax rate		N.M.			10.3
Average loans and leases	$	33,201,442		$	25,943,554		$	7,257,888			28.0
Average earning assets		39,355,933			31,451,041			7,904,892			25.1
Average total assets		44,711,676			35,111,236			9,600,440			27.3
Average core deposits (5)		25,691,672			19,314,828			6,376,844			33.0
Average shareholders’ equity		4,631,912			2,945,597			1,686,315			57.2
Net charge-offs (NCOs)		477,631			82,376			395,255			N.M.
NCOs as a % of average loans and leases		1.44	%		0.32	%

N.M., not a meaningful value.
(1)	Comparisons for presented periods are impacted by a number of factors. Refer to ‘Significant Items Influencing Financial Performance Comparisons’.
(2)	Net income less expense for amortization of intangibles (net of tax) for the period divided by average tangible common shareholders’ equity. Average tangible common shareholders’ equity equals average total common shareholders’ equity less average
	intangible assets and goodwill. Other intangible assets are net of deferred tax.
(3)	On a fully taxable equivalent (FTE) basis assuming a 35% tax rate.
(4)	Non-interest expense less amortization of intangibles ($45.2 million for 2007 and $10.0 million for 2006) divided by the sum of FTE net interest income and non-interest income excluding securities gains (losses).
(5)	Includes non-interest bearing and interest bearing demand deposits, money market deposits, savings and other domestic time deposits, and core certificates of deposit.

- 22 -

EX-99.2

Exhibit 99.2

HUNTINGTON BANCSHARES INCORPORATED
Quarterly Financial Review
December 2007

     
Table of Contents

Consolidated Balance Sheets	1
Loans and Leases Composition	2
Deposit Composition	3
Consolidated Quarterly Average Balance Sheets	4
Consolidated Quarterly Net Interest Margin Analysis	5
Quarterly Average Loans and Leases and Deposit Composition By Business Segment	6
Selected Quarterly Income Statement Data	7
Quarterly Mortgage Banking Income	8
Quarterly Credit Reserves Analysis	9
Quarterly Net Charge-Off Analysis	10
Quarterly Nonaccrual Loans (NALs), Nonperforming Assets (NPAs) and Past Due Loans and Leases	11
Quarterly Stock Summary, Capital, and Other Data	12
Consolidated Annual Average Balance Sheets	13
Consolidated Annual Net Interest Margin Analysis	14
Selected Annual Income Statement Data	15
Annual Mortgage Banking Income	16
Annual Credit Reserves Analysis	17
Annual Net Charge-Off Analysis	18
Annual Nonaccrual Loans (NALs), Nonperforming Assets (NPAs) and Past Due Loans and Leases	19

Notes:

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.

This document reflects the post-Sky merger organization structure effective on July 1, 2007. Accordingly, the balances presented include the impact of the acquisition from that date.

Contents

Huntington Bancshares Incorporated
Consolidated Balance Sheets

										Change
	2007						2006			December ’07 vs ’06
(in thousands, except number of shares)	December 31,			September 30,			December 31,			Amount			Percent
	(Unaudited)			(Unaudited)
Assets
Cash and due from banks	$	1,416,597		$	1,201,981		$	1,080,163		$	336,434			31.1	%
Federal funds sold and securities purchased under resale agreements		592,649			431,244			440,584			152,065			34.5
Interest bearing deposits in banks		340,090			288,841			74,168			265,922			N.M.
Trading account securities		1,032,745			1,034,240			36,056			996,689			N.M.
Loans held for sale		494,379			479,853			270,422			223,957			82.8
Investment securities		4,500,171			4,288,974			4,362,924			137,247			3.1
Loans and leases (1)		40,054,338			39,987,240			26,153,425			13,900,913			53.2
Allowance for loan and lease losses		(578,442	)		(454,784	)		(272,068	)		(306,374	)		N.M.
Net loans and leases		39,475,896			39,532,456			25,881,357			13,594,539			52.5
Bank owned life insurance		1,313,281			1,302,363			1,089,028			224,253			20.6
Premises and equipment		557,565			547,380			372,772			184,793			49.6
Goodwill		3,059,333			2,995,961			570,876			2,488,457			N.M.
Other intangible assets		427,970			443,446			59,487			368,483			N.M.
Accrued income and other assets		1,486,792			2,757,187			1,091,182			395,610			36.3
Total Assets	$	54,697,468		$	55,303,927		$	35,329,019		$	19,368,449			54.8	%
Liabilities and Shareholders’ Equity
Liabilities
Deposits (2)	$	37,742,921		$	38,404,365		$	25,047,770		$	12,695,151			50.7	%
Short-term borrowings		2,843,638			2,227,116			1,676,189			1,167,449			69.6
Federal Home Loan Bank advances		3,085,348			2,716,265			996,821			2,088,527			N.M.
Other long-term debt		1,937,078			1,974,387			2,229,140			(292,062	)		(13.1	)
Subordinated notes		1,932,483			1,919,625			1,286,657			645,826			50.2
Accrued expenses and other liabilities		1,206,860			1,812,495			1,078,116			128,744			11.9
Total Liabilities		48,748,328			49,054,253			32,314,693			16,433,635			50.9
Shareholders’ equity
Preferred stock — authorized 6,617,808 shares; none outstanding		—			—			—			—			—
Common stock -
No par value and authorized 500,000,000 shares; issued 257,866,255 shares; outstanding 235,474,366 shares		—			—			2,560,569
Par value of $0.01 and authorized 1,000,000,000 shares at December 31, 2007; issued 387,504,687 shares; outstanding 366,261,676 and 365,898,439 shares, respectively		3,875			3,875			—			3,875			—
Capital surplus		5,703,316			5,700,961			—
Less 21,243,011; 21,606,248 and 22,391,889 treasury shares at cost, respectively		(480,129	)		(489,062	)		(506,946	)		26,817			(5.3	)
Accumulated other comprehensive loss		(49,611	)		(74,101	)		(55,066	)		5,455			(9.9	)
Retained earnings		771,689			1,108,001			1,015,769			(244,080	)		(24.0	)
Total Shareholders’ Equity		5,949,140			6,249,674			3,014,326			2,934,814			97.4
Total Liabilities and Shareholders’ Equity	$	54,697,468		$	55,303,927		$	35,329,019		$	19,368,449			54.8	%

N.M., not a meaningful value.
(1)	See page 2 for detail of loans and leases.
(2)	See page 3 for detail of deposits.

1

Huntington Bancshares Incorporated
Loans and Leases Composition

													Change
	2007								2006				December ’07 vs ’06
(in thousands)	December 31,				September 30,				December 31,				Amount			Percent
	(Unaudited)				(Unaudited)
By Type
Commercial:
Middle market commercial and industrial	$	10,158,136	25.4	%	$	10,200,357	25.5	%	$	5,961,445	22.8	%	$	4,196,691			70.4	%
Middle market commercial real estate:
Construction		1,946,381	4.9			1,856,792	4.6			1,228,641	4.7			717,740			58.4
Commercial		5,857,436	14.6			5,686,297	14.2			2,722,599	10.4			3,134,837			N.M.
Middle market commercial real estate		7,803,817	19.5			7,543,089	18.8			3,951,240	15.1			3,852,577			97.5
Small business		4,346,664	10.8			4,355,252	10.8			2,441,837	9.3			1,904,827			78.0
Total commercial		22,308,617	55.7			22,098,698	55.1			12,354,522	47.2			9,954,095			80.6
Consumer:
Automobile loans		3,114,029	7.8			2,959,913	7.4			2,125,821	8.1			988,208			46.5
Automobile leases		1,179,505	2.9			1,365,805	3.4			1,769,424	6.8			(589,919	)		(33.3	)
Home equity		7,290,063	18.2			7,317,545	18.4			4,926,900	18.8			2,363,163			48.0
Residential mortgage		5,447,126	13.6			5,505,340	13.8			4,548,849	17.4			898,277			19.7
Other loans		714,998	1.8			739,939	1.9			427,909	1.7			287,089			67.1
Total consumer		17,745,721	44.3			17,888,542	44.9			13,798,903	52.8			3,946,818			28.6
Total loans and leases	$	40,054,338	100.0		$	39,987,240	100.0		$	26,153,425	100.0		$	13,900,913			53.2
By Business Segment
Regional Banking:
Central Ohio	$	5,110,270	12.8	%	$	4,993,373	12.5	%	$	3,569,706	13.6	%	$	1,540,564			43.2	%
Northwest Ohio		2,284,141	5.7			2,342,088	5.9			461,622	1.8			1,822,519			N.M.
Greater Cleveland		3,097,120	7.7			3,057,757	7.6			1,920,421	7.3			1,176,699			61.3
Greater Akron/Canton		2,020,447	5.0			2,078,588	5.2			1,326,374	5.1			694,073			52.3
Southern Ohio/Kentucky		2,659,870	6.6			2,547,800	6.4			2,190,115	8.4			469,755			21.4
Mahoning Valley		927,918	2.3			939,739	2.4			—	—			927,918			—
Ohio Valley		870,276	2.2			869,139	2.2			—	—			870,276			—
West Michigan		2,477,617	6.2			2,520,325	6.3			2,421,085	9.3			56,532			2.3
East Michigan		1,750,171	4.4			1,760,158	4.4			1,630,050	6.2			120,121			7.4
Western Pennsylvania		1,053,685	2.6			1,106,068	2.8			—	—			1,053,685			—
Pittsburgh		900,789	2.2			888,848	2.2			—	—			900,789			—
Central Indiana		1,421,116	3.5			1,419,693	3.6			962,575	3.7			458,541			47.6
West Virginia		1,155,719	2.9			1,125,628	2.8			1,123,817	4.3			31,902			2.8
Other Regional		6,176,485	15.4			6,409,470	16.1			3,805,947	14.5			2,370,538			62.3
Regional Banking		31,905,624	79.7			32,058,674	80.2			19,411,712	74.2			12,493,912			64.4
Dealer Sales		5,563,415	13.9			5,449,580	13.6			4,908,764	18.8			654,651			13.3
Private Financial and Capital Markets Group		2,585,299	6.4			2,478,986	6.2			1,832,949	7.0			752,350			41.0
Treasury / Other		—	—			—	—			—	—			—			—
Total loans and leases	$	40,054,338	100.0	%	$	39,987,240	100.0	%	$	26,153,425	100.0	%	$	13,900,913			53.2	%

N.M., not a meaningful value.

2

Huntington Bancshares Incorporated
Deposit Composition

													Change
	2007								2006				December ’07 vs ’06
(in thousands)	December 31,				September 30,				December 31,				Amount			Percent
	(Unaudited)				(Unaudited)
By Type
Demand deposits — non-interest bearing	$	5,371,747	14.2	%	$	4,984,663	13.0	%	$	3,615,745	14.4	%	$	1,756,002			48.6	%
Demand deposits — interest bearing		4,048,873	10.7			3,982,102	10.4			2,389,085	9.5			1,659,788			69.5
Money market deposits		6,643,242	17.6			6,721,963	17.5			5,362,459	21.4			1,280,783			23.9
Savings and other domestic deposits		4,773,944	12.6			4,877,476	12.7			2,986,287	11.9			1,787,657			59.9
Core certificates of deposit		10,736,146	28.4			10,611,821	27.6			5,364,610	21.4			5,371,536			N.M.
Total core deposits		31,573,952	83.5			31,178,025	81.2			19,718,186	78.6			11,855,766			60.1
Other domestic deposits of $100,000 or more		2,065,401	5.5			1,914,417	5.0			1,191,984	4.8			873,417			73.3
Brokered deposits and negotiable CDs		3,376,854	8.9			3,701,726	9.6			3,345,943	13.4			30,911			0.9
Deposits in foreign offices		726,714	2.1			1,610,197	4.2			791,657	3.2			(64,943	)		(8.2	)
Total deposits	$	37,742,921	100.0	%	$	38,404,365	100.0	%	$	25,047,770	100.0	%	$	12,695,151			50.7	%
Total core deposits:
Commercial	$	9,017,852	28.6	%	$	9,017,474	28.9	%	$	6,063,372	30.8	%	$	2,954,480			48.7	%
Personal		22,556,100	71.4			22,160,551	71.1			13,654,814	69.2			8,901,286			65.2
Total core deposits	$	31,573,952	100.0	%	$	31,178,025	100.0	%	$	19,718,186	100.0	%	$	11,855,766			60.1	%
By Business Segment
Regional Banking:
Central Ohio	$	6,332,143	16.8	%	$	5,931,926	15.4	%	$	5,013,367	20.0	%	$	1,318,776			26.3	%
Northwest Ohio		2,837,735	7.5			2,841,442	7.4			1,043,918	4.2			1,793,817			N.M.
Greater Cleveland		3,194,780	8.5			3,071,014	8.0			1,995,203	8.0			1,199,577			60.1
Greater Akron/Canton		2,636,564	7.0			2,629,397	6.8			1,894,707	7.6			741,857			39.2
Southern Ohio/Kentucky		2,628,766	7.0			2,626,166	6.8			2,275,880	9.1			352,886			15.5
Mahoning Valley		1,550,676	4.1			1,540,095	4.0			—	—			1,550,676			—
Ohio Valley		1,289,027	3.4			1,374,947	3.6			—	—			1,289,027			—
West Michigan		2,919,926	7.7			2,966,558	7.7			2,757,434	11.0			162,492			5.9
East Michigan		2,442,354	6.5			2,420,169	6.3			2,418,450	9.7			23,904			1.0
Western Pennsylvania		1,643,483	4.4			1,663,174	4.3			—	—			1,643,483			—
Pittsburgh		948,451	2.5			933,468	2.4			—	—			948,451			—
Central Indiana		1,896,433	5.0			1,910,530	5.0			819,106	3.3			1,077,327			N.M.
West Virginia		1,589,903	4.2			1,559,864	4.1			1,515,999	6.1			73,904			4.9
Other Regional		771,261	2.0			612,620	1.6			493,879	2.0			277,382			56.2
Regional Banking		32,681,502	86.6			32,081,370	83.5			20,227,943	80.8			12,453,559			61.6
Dealer Sales		58,196	0.2			63,399	0.2			58,719	0.2			(523	)		(0.9	)
Private Financial and Capital Markets Group		1,626,043	4.3			1,630,675	4.2			1,167,751	4.7			458,292			39.2
Treasury / Other (1)		3,377,180	8.9			4,628,921	12.1			3,593,357	14.3			(216,177	)		(6.0	)
Total deposits	$	37,742,921	100.0	%	$	38,404,365	100.0	%	$	25,047,770	100.0	%	$	12,695,151			50.7	%

N.M., not a meaningful value.
(1)	Comprised largely of national market deposits.

3

Huntington Bancshares Incorporated
Consolidated Quarterly Average Balance Sheets
(Unaudited)

							Average Balances									Change
Fully taxable equivalent basis	2007												2006			4Q07 vs 4Q06
(in millions)	Fourth			Third			Second			First			Fourth			Amount			Percent
Assets
Interest bearing deposits in banks	$	324		$	292		$	259		$	93		$	77		$	247			N.M.	%
Trading account securities		1,122			1,149			230			48			116			1,006			N.M.
Federal funds sold and securities purchased under resale agreements		730			557			574			503			531			199			37.5
Loans held for sale		493			419			291			242			265			228			86.0
Investment securities:
Taxable		3,807			3,951			3,253			3,595			3,792			15			0.4
Tax-exempt		689			675			629			591			594			95			16.0
Total investment securities		4,496			4,626			3,882			4,186			4,386			110			2.5
Loans and leases: (1)
Commercial:
Middle market commercial and industrial		10,359			10,301			6,209			6,070			5,882			4,477			76.1
Middle market commercial real estate:
Construction		1,858			1,782			1,245			1,151			1,170			688			58.8
Commercial		5,761			5,623			2,865			2,772			2,839			2,922			N.M.
Middle market commercial real estate		7,619			7,405			4,110			3,923			4,009			3,610			90.0
Small business		4,345			4,310			2,499			2,466			2,421			1,924			79.5
Total commercial		22,323			22,016			12,818			12,459			12,312			10,011			81.3
Consumer:
Automobile loans		3,052			2,931			2,322			2,215			2,111			941			44.6
Automobile leases		1,272			1,423			1,551			1,698			1,838			(566	)		(30.8	)
Automobile loans and leases		4,324			4,354			3,873			3,913			3,949			375			9.5
Home equity		7,297			7,468			4,973			4,913			4,973			2,324			46.7
Residential mortgage		5,437			5,456			4,351			4,496			4,635			802			17.3
Other loans		728			534			424			422			430			298			69.3
Total consumer		17,786			17,812			13,621			13,744			13,987			3,799			27.2
Total loans and leases		40,109			39,828			26,439			26,203			26,299			13,810			52.5
Allowance for loan and lease losses		(474	)		(475	)		(297	)		(278	)		(282	)		(192	)		(68.1	)
Net loans and leases		39,635			39,353			26,142			25,925			26,017			13,618			52.3
Total earning assets		47,274			46,871			31,675			31,275			31,674			15,600			49.3
Cash and due from banks		1,098			1,111			748			826			830			268			32.3
Intangible assets		3,440			3,337			626			627			631			2,809			N.M.
All other assets		3,142			3,124			2,398			2,480			2,617			525			20.1
Total Assets	$	54,480		$	53,968		$	35,150		$	34,930		$	35,470		$	19,010			53.6	%
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits - non-interest bearing	$	5,218		$	5,384		$	3,591		$	3,530		$	3,580		$	1,638			45.8	%
Demand deposits - interest bearing		3,929			3,808			2,404			2,349			2,219			1,710			77.1
Money market deposits		6,845			6,869			5,466			5,489			5,548			1,297			23.4
Savings and other domestic deposits		4,813			5,043			2,863			2,827			2,849			1,964			68.9
Core certificates of deposit		10,674			10,425			5,591			5,455			5,380			5,294			98.4
Total core deposits		31,479			31,529			19,915			19,650			19,576			11,903			60.8
Other domestic deposits of $100,000 or more		1,930			1,694			1,124			1,219			1,282			648			50.5
Brokered deposits and negotiable CDs		3,518			3,728			2,682			3,020			3,252			266			8.2
Deposits in foreign offices		748			701			552			562			598			150			25.1
Total deposits		37,675			37,652			24,273			24,451			24,708			12,967			52.5
Short-term borrowings		2,489			2,542			2,075			1,863			1,832			657			35.9
Federal Home Loan Bank advances		3,070			2,553			1,329			1,128			1,121			1,949			N.M.
Subordinated notes and other long-term debt		3,875			3,912			3,470			3,487			3,583			292			8.1
Total interest bearing liabilities		41,891			41,275			27,556			27,399			27,664			14,227			51.4
All other liabilities		1,160			1,103			960			987			1,142			18			1.6
Shareholders’ equity		6,211			6,206			3,043			3,014			3,084			3,127			N.M.
Total Liabilities and Shareholders’ Equity	$	54,480		$	53,968		$	35,150		$	34,930		$	35,470		$	19,010			53.6	%

N.M., not a meaningful value.

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

4

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

							Average Rates (2)
							2007						2006
Fully taxable equivalent basis (1)	Fourth			Third			Second			First			Fourth
Assets
Interest bearing deposits in banks		4.30	%		4.69	%		6.47	%		5.13	%		5.50	%
Trading account securities		5.72			6.01			5.74			5.27			4.10
Federal funds sold and securities purchased under resale agreements		4.59			5.26			5.28			5.24			5.35
Loans held for sale		5.86			5.13			5.79			6.27			6.01
Investment securities:
Taxable		5.98			6.09			6.11			6.13			6.05
Tax-exempt		6.74			6.78			6.69			6.66			6.68
Total investment securities		6.10			6.19			6.20			6.21			6.13
Loans and leases: (3)
Commercial:
Middle market commercial and industrial		6.80			7.77			7.39			7.48			7.55
Middle market commercial real estate:
Construction		7.21			7.67			7.62			8.41			8.37
Commercial		6.98			7.60			7.34			7.64			7.57
Middle market commercial real estate		7.04			7.62			7.42			7.87			7.80
Small business		7.43			7.55			7.30			7.24			7.18
Total commercial		7.00			7.68			7.38			7.56			7.56
Consumer:
Automobile loans		7.31			7.25			7.10			6.92			6.75
Automobile leases		5.52			5.56			5.34			5.25			5.21
Automobile loans and leases		6.78			6.70			6.39			6.25			6.03
Home equity		7.81			7.94			7.63			7.67			7.75
Residential mortgage		5.88			6.06			5.61			5.54			5.55
Other loans		10.91			11.48			9.57			9.52			9.28
Total consumer		7.10			7.17			6.69			6.58			6.58
Total loans and leases		7.05			7.45			7.03			7.05			7.04
Total earning assets		6.88	%		7.25	%		6.92	%		6.98	%		6.86	%
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — non-interest bearing		—	%		—	%		—	%		—	%		—	%
Demand deposits — interest bearing		1.14			1.53			1.22			1.21			1.04
Money market deposits		3.67			3.78			3.85			3.78			3.75
Savings and other domestic deposits		2.43			2.50			2.16			2.02			1.90
Core certificates of deposit		4.83			4.99			4.79			4.72			4.58
Total core deposits		3.54			3.69			3.49			3.41			3.32
Other domestic deposits of $100,000 or more		5.00			4.81			5.30			5.32			5.29
Brokered deposits and negotiable CDs		5.24			5.42			5.53			5.50			5.53
Deposits in foreign offices		3.27			3.29			3.16			2.99			3.18
Total deposits		3.80			3.94			3.84			3.81			3.78
Short-term borrowings		3.74			4.10			4.50			4.32			4.21
Federal Home Loan Bank advances		5.03			5.31			4.76			4.44			4.50
Subordinated notes and other long-term debt		5.93			6.15			5.96			5.77			5.96
Total interest bearing liabilities		4.09	%		4.24	%		4.20	%		4.14	%		4.12	%
Net interest rate spread		2.79	%		3.01	%		2.72	%		2.84	%		2.74	%
Impact of non-interest bearing funds on margin		0.47			0.51			0.54			0.52			0.54
Net interest margin		3.26	%		3.52	%		3.26	%		3.36	%		3.28	%

(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, nonaccrual loans are reflected in the average balances of loans.

5

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

					Average Balances						Change
	2007								2006		4Q07 vs 4Q06
(in millions)	Fourth		Third		Second		First		Fourth		Amount		Percent
Loans and direct financing leases (1)
Regional Banking:
Central Ohio	$	5,011	$	4,910	$	3,644	$	3,601	$	3,615	$	1,396		38.6	%
Northwest Ohio		2,318		2,331		452		455		469		1,849		N.M.
Greater Cleveland		3,079		2,993		2,064		1,964		1,942		1,137		58.5
Greater Akron/Canton		2,037		2,024		1,328		1,326		1,337		700		52.4
Southern Ohio/Kentucky		2,576		2,527		2,205		2,181		2,171		405		18.7
Mahoning Valley		925		871		—		—		—		925		—
Ohio Valley		867		759		—		—		—		867		—
West Michigan		2,470		2,484		2,447		2,441		2,439		31		1.3
East Michigan		1,767		1,750		1,639		1,626		1,609		158		9.8
Western Pennsylvania		1,092		1,069		—		—		—		1,092		—
Pittsburgh		896		912		—		—		—		896		—
Central Indiana		1,397		1,406		982		959		991		406		41.0
West Virginia		1,135		1,163		1,128		1,106		1,114		21		1.9
Other Regional		6,500		6,754		3,774		3,780		3,859		2,641		68.4
Regional Banking		32,070		31,953		19,663		19,439		19,546		12,524		64.1
Dealer Sales		5,515		5,376		4,888		4,917		4,913		602		12.3
Private Financial and Capital Markets Group		2,524		2,499		1,888		1,847		1,840		684		37.2
Treasury / Other		—		—		—		—		—		—		—
Total loans and direct financing leases	$	40,109	$	39,828	$	26,439	$	26,203	$	26,299	$	13,810		52.5	%
Deposit composition (1)
Regional Banking:
Central Ohio	$	6,169	$	6,026	$	4,962	$	4,889	$	4,908	$	1,261		25.7	%
Northwest Ohio		2,825		2,856		1,070		1,061		1,010		1,815		N.M.
Greater Cleveland		3,089		2,969		2,024		2,005		2,068		1,021		49.4
Greater Akron/Canton		2,634		2,613		1,898		1,903		1,890		744		39.4
Southern Ohio/Kentucky		2,644		2,564		2,333		2,285		2,229		415		18.6
Mahoning Valley		1,550		1,562		—		—		—		1,550		—
Ohio Valley		1,345		1,380		—		—		—		1,345		—
West Michigan		2,925		2,868		2,784		2,790		2,818		107		3.8
East Michigan		2,404		2,423		2,397		2,431		2,370		34		1.4
Western Pennsylvania		1,655		1,695		—		—		—		1,655		—
Pittsburgh		946		943		—		—		—		946		—
Central Indiana		1,940		1,831		854		870		922		1,018		N.M.
West Virginia		1,567		1,562		1,535		1,533		1,522		45		3.0
Other Regional		759		861		537		452		446		313		70.2
Regional Banking		32,452		32,153		20,394		20,219		20,183		12,269		60.8
Dealer Sales		59		56		55		52		56		3		5.4
Private Financial and Capital Markets Group		1,629		1,645		1,142		1,148		1,174		455		38.8
Treasury / Other		3,535		3,798		2,682		3,032		3,295		240		7.3
Total deposits	$	37,675	$	37,652	$	24,273	$	24,451	$	24,708	$	12,967		52.5	%

N.M., not a meaningful value.
(1)	Prior period amounts have been reclassified to conform to the current period presentation.

6

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

	2007												2006			4Q07 vs 4Q06
(in thousands, except per share amounts)	Fourth			Third			Second			First			Fourth			Amount			Percent
Interest income	$	814,398		$	851,155		$	542,461		$	534,949		$	544,841		$	269,557			49.5	%
Interest expense		431,465			441,522			289,070			279,394			286,852			144,613			50.4
Net interest income		382,933			409,633			253,391			255,555			257,989			124,944			48.4
Provision for credit losses		512,082			42,007			60,133			29,406			15,744			496,338			N.M.
Net interest (loss) income after provision for credit losses		(129,149	)		367,626			193,258			226,149			242,245			(371,394	)		N.M.
Service charges on deposit accounts		81,276			78,107			50,017			44,793			48,548			32,728			67.4
Trust services		35,198			33,562			26,764			25,894			23,511			11,687			49.7
Brokerage and insurance income		30,288			28,806			17,199			16,082			14,600			15,688			N.M.
Other service charges and fees		21,891			21,045			14,923			13,208			13,784			8,107			58.8
Bank owned life insurance income		13,253			14,847			10,904			10,851			10,804			2,449			22.7
Mortgage banking income		3,702			9,629			7,122			9,351			6,169			(2,467	)		(40.0	)
Securities (losses) gains		(11,551	)		(13,152	)		(5,139	)		104			(15,804	)		4,253			(26.9	)
Other income (2)		(3,500	)		31,830			34,403			24,894			38,994			(42,494	)		N.M.
Total non-interest income		170,557			204,674			156,193			145,177			140,606			29,951			21.3
Personnel costs		214,850			202,148			135,191			134,639			137,944			76,906			55.8
Outside data processing and other services		39,130			40,600			25,701			21,814			20,695			18,435			89.1
Net occupancy		26,714			33,334			19,417			19,908			17,279			9,435			54.6
Equipment		22,816			23,290			17,157			18,219			18,151			4,665			25.7
Amortization of intangibles		20,163			19,949			2,519			2,520			2,993			17,170			N.M.
Marketing		16,175			13,186			8,986			7,696			6,207			9,968			N.M.
Professional services		14,464			11,273			8,101			6,482			8,958			5,506			61.5
Telecommunications		8,513			7,286			4,577			4,126			4,619			3,894			84.3
Printing and supplies		6,594			4,743			3,672			3,242			3,610			2,984			82.7
Other expense (2)		70,133			29,754			19,334			23,426			47,334			22,799			48.2
Total non-interest expense		439,552			385,563			244,655			242,072			267,790			171,762			64.1
(Loss) Income before income taxes		(398,144	)		186,737			104,796			129,254			115,061			(513,205	)		N.M.
(Benefit) Provision for income taxes		(158,864	)		48,535			24,275			33,528			27,347			(186,211	)		N.M.
Net (loss) income	$	(239,280	)	$	138,202		$	80,521		$	95,726		$	87,714		$	(326,994	)		N.M.	%
Average common shares - diluted		366,119			368,280			239,008			238,754			239,881			126,238			52.6	%
Per common share
Net (loss) income - diluted	$	(0.65	)	$	0.38		$	0.34		$	0.40		$	0.37		$	(1.02	)		N.M.
Cash dividends declared		0.265			0.265			0.265			0.265			0.250			0.015			6.0
Return on average total assets		(1.74)	%		1.02	%		0.92	%		1.11	%		0.98			(2.72)	%		N.M.
Return on average total shareholders’ equity		(15.3	)		8.8			10.6			12.9			11.3			(26.6	)		N.M.
Return on average tangible shareholders’ equity (3)		(32.4	)		20.9			13.6			16.5			14.5			(46.90	)		N.M.
Net interest margin (4)		3.26			3.52			3.26			3.36			3.28			(0.02	)		(0.6	)
Efficiency ratio (5)		73.5			57.7			57.8			59.2			63.3			10.2			16.1
Effective tax rate (benefit)		(39.9	)		26.0			23.2			25.9			23.8			(63.7	)		N.M.
Revenue - fully taxable equivalent (FTE)
Net interest income	$	382,933		$	409,633		$	253,391		$	255,555		$	257,989		$	124,944			48.4
FTE adjustment		5,363			5,712			4,127			4,047			4,115			1,248			30.3
Net interest income (4)		388,296			415,345			257,518			259,602			262,104			126,192			48.1
Non-interest income		170,557			204,674			156,193			145,177			140,606			29,951			21.3
Total revenue (4)	$	558,853		$	620,019		$	413,711		$	404,779		$	402,710		$	156,143			38.8	%

N.M., not a meaningful value.
(1)	Comparisons for presented periods are impacted by a number of factors. Refer to ‘Significant Items Influencing Financial Performance Comparisons’.
(2)	Automobile operating lease income and expense is included in ‘Other Income’ and ‘Other Expense’, respectively.
(3)	Net income less expense for amortization of intangibles (net of tax) for the period divided by average tangible common shareholders’ equity. Average tangible common shareholders’ equity equals average total common shareholders’ equity less average intangible assets and goodwill. Other intangible assets are net of deferred tax.
(4)	On a fully taxable equivalent (FTE) basis assuming a 35% tax rate.
(5)	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
(Unaudited)

	2007												2006			4Q07 vs 4Q06
(in thousands, except as noted)	Fourth			Third			Second			First			Fourth			Amount			Percent
Mortgage Banking Income
Origination and secondary marketing	$	5,879		$	8,375		$	6,771		$	4,940		$	4,057		$	1,822			44.9	%
Servicing fees		11,405			10,811			6,976			6,820			6,662			4,743			71.2
Amortization of capitalized servicing (1)		(5,929	)		(6,571	)		(4,449	)		(3,638	)		(3,835	)		(2,094	)		(54.6	)
Other mortgage banking income		4,113			3,016			2,822			3,247			1,778			2,335			N.M.
Sub-total		15,468			15,631			12,120			11,369			8,662			6,806			78.6
MSR valuation adjustment (1)		(21,245	)		(9,863	)		16,034			(1,057	)		(1,907	)		(19,338	)		N.M.
Net trading gains (losses) related to MSR hedging		9,479			3,861			(21,032	)		(961	)		(586	)		10,065			N.M.
Total mortgage banking income	$	3,702		$	9,629		$	7,122		$	9,351		$	6,169		$	(2,467	)		(40.0	)%
Capitalized mortgage servicing rights (2)	$	207,894		$	228,933		$	155,420		$	134,845		$	131,104		$	76,790			58.6	%
Total mortgages serviced for others (in millions) (2)		15,088			15,073			8,693			8,494			8,252			6,836			82.8
MSR % of investor servicing portfolio		1.38	%		1.52	%		1.79	%		1.59	%		1.59	%		(0.21	)%		(13.2	)
Net Impact of MSR Hedging
MSR valuation adjustment (1)	$	(21,245	)	$	(9,863	)	$	16,034		$	(1,057	)	$	(1,907	)	$	(19,338	)		N.M.	%
Net trading gains (losses) related to MSR hedging		9,479			3,861			(21,032	)		(961	)		(586	)		10,065			N.M.
Net interest income (losses) related to MSR hedging		3,192			2,357			248			—			(2	)		3,194			N.M.
Net impact of MSR hedging	$	(8,574	)	$	(3,645	)	$	(4,750	)	$	(2,018	)	$	(2,495	)	$	(6,079	)		N.M.	%

N.M., not a meaningful value.
(1)	The change in fair value for the period represents the MSR valuation adjustment, net of amortization of capitalized servicing.
(2)	At period end.

8

Huntington Bancshares Incorporated
Quarterly Credit Reserves Analysis
(Unaudited)

	2007												2006
(in thousands)	Fourth			Third			Second			First			Fourth
Allowance for loan and lease losses, beginning of period	$	454,784		$	307,519		$	282,976		$	272,068		$	280,152
Acquired allowance for loan and lease losses		—			188,128			—			—			—
Loan and lease losses		(388,506	)		(57,466	)		(44,158	)		(27,813	)		(32,835	)
Recoveries of loans previously charged off		10,599			10,360			9,658			9,695			9,866
Net loan and lease losses		(377,907	)		(47,106	)		(34,500	)		(18,118	)		(22,969	)
Provision for loan and lease losses		503,781			36,952			59,043			29,026			14,885
Allowance for loans transferred to held-for-sale		(2,216	)		(30,709	)		—			—			—
Allowance for loan and lease losses, end of period	$	578,442		$	454,784		$	307,519		$	282,976		$	272,068
Allowance for unfunded loan commitments and letters of credit, beginning of period	$	58,227		$	41,631		$	40,541		$	40,161		$	39,302
Acquired AULC		—			11,541			—			—			—
Provision for unfunded loan commitments and letters of credit losses		8,301			5,055			1,090			380			859
Allowance for unfunded loan commitments and letters of credit, end of period	$	66,528		$	58,227		$	41,631		$	40,541		$	40,161
Total allowances for credit losses	$	644,970		$	513,011		$	349,150		$	323,517		$	312,229
Allowance for loan and lease losses (ALLL) as % of:
Transaction reserve		1.27	%		0.97	%		0.94	%		0.89	%		0.86	%
Economic reserve		0.17			0.17			0.21			0.19			0.18
Total loans and leases		1.44	%		1.14	%		1.15	%		1.08	%		1.04	%
Nonaccrual loans and leases (NALs)		181			182			145			180			189
Total allowances for credit losses (ACL) as % of:
Total loans and leases		1.61	%		1.28	%		1.30	%		1.23	%		1.19	%
Nonaccrual loans and leases		202			206			165			206			217

9

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

	2007												2006
(in thousands)	Fourth			Third			Second			First			Fourth
Net charge-offs (recoveries) by loan and lease type:
Commercial:
Middle market commercial and industrial	$	318,485		$	7,760		$	3,628		$	(11	)	$	(1,827	)
Middle market commercial real estate:
Construction		6,800			2,160			2,876			9			3,957
Commercial		13,313			2,282			10,428			377			144
Middle market commercial real estate		20,113			4,442			13,304			386			4,101
Small business		6,043			5,102			3,603			2,089			4,535
Total commercial		344,641			17,304			20,535			2,464			6,809
Consumer:
Automobile loans		7,347			5,354			1,631			2,853			2,422
Automobile leases		3,046			2,561			2,699			2,201			2,866
Automobile loans and leases		10,393			7,915			4,330			5,054			5,288
Home equity		12,212			10,841			5,405			5,968			5,820
Residential mortgage		3,340			4,405			1,695			1,931			2,226
Other loans		7,321			6,641			2,535			2,701			2,826
Total consumer		33,266			29,802			13,965			15,654			16,160
Total net charge-offs	$	377,907		$	47,106		$	34,500		$	18,118		$	22,969
Net charge-offs (recoveries) — annualized percentages:
Commercial:
Middle market commercial and industrial		12.30	%		0.30	%		0.23	%		—	%		(0.12	)%
Middle market commercial real estate:
Construction		1.46			0.48			0.92			—			1.35
Commercial		0.92			0.16			1.46			0.05			0.02
Middle market commercial real estate		1.06			0.24			1.29			0.04			0.41
Small business		0.56			0.47			0.58			0.34			0.75
Total commercial		6.18			0.31			0.64			0.08			0.22
Consumer:
Automobile loans		0.96			0.73			0.28			0.52			0.46
Automobile leases		0.96			0.72			0.70			0.52			0.62
Automobile loans and leases		0.96			0.73			0.45			0.52			0.54
Home equity		0.67			0.58			0.43			0.49			0.47
Residential mortgage		0.25			0.32			0.16			0.17			0.19
Other loans		4.02			4.97			2.39			2.56			2.63
Total consumer		0.75			0.67			0.41			0.46			0.46
Net charge-offs as a % of average loans		3.77	%		0.47	%		0.52	%		0.28	%		0.35	%

10

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

	2007												2006
(in thousands)	December 31,			September 30,			June 30,			March 31,			December 31,
Nonaccrual loans and leases:
Middle market commercial and industrial	$	51,875		$	56,691		$	41,644		$	32,970		$	35,657
Middle market commercial real estate		132,157			85,144			81,108			42,458			34,831
Small business		52,114			36,712			32,059			30,015			25,852
Residential mortgage		59,557			47,738			39,868			35,491			32,527
Home equity		24,068			23,111			16,837			16,396			15,266
Total nonaccrual loans and leases		319,771			249,396			211,516			157,330			144,133
Restructured loans		1,187,368			—			—			—			—
Other real estate, net:
Residential		72,467			66,155			47,712			47,762			47,898
Commercial		2,804			2,710			1,957			1,586			1,589
Total other real estate, net		75,271			68,865			49,669			49,348			49,487
Impaired loans held for sale (1)		73,481			100,485			—			—			—
Other NPAs (2)		4,379			16,296			—			—			—
Total nonperforming assets	$	1,660,270		$	435,042		$	261,185		$	206,678		$	193,620
Nonaccrual loans and leases as a % of total loans and leases		0.80	%		0.62	%		0.79	%		0.60	%		0.55	%
NPA ratio (3)		4.13			1.08			0.97			0.79			0.74
Accruing loans and leases past due 90 days or more	$	140,977		$	115,607		$	67,277		$	70,179		$	59,114
Accruing loans and leases past due 90 days or more as a percent of total loans and leases		0.35	%		0.29	%		0.25	%		0.27	%		0.23	%

	2007												2006
(in thousands)	Fourth			Third			Second			First			Fourth
Nonperforming assets, beginning of period	$	435,042		$	261,185		$	206,678		$	193,620		$	171,212
New nonperforming assets		211,134			92,986			112,348			51,588			60,287
Restructured loans(4)		1,187,368			—			—			—
Acquired nonperforming assets		—			144,492			—			—			—
Returns to accruing status		(5,273	)		(8,829	)		(4,674	)		(6,176	)		(5,666	)
Loan and lease losses		(62,502	)		(28,031	)		(27,149	)		(9,072	)		(11,908	)
Payments		(30,756	)		(17,589	)		(19,662	)		(18,086	)		(16,673	)
Sales		(74,743	)		(9,172	)		(6,356	)		(5,196	)		(3,632	)
Nonperforming assets, end of period	$	1,660,270		$	435,042		$	261,185		$	206,678		$	193,620

(1)	Represent impaired loans obtained from the Sky Financial acquisition that are intended to be sold. Held for sale loans are carried at the lower of cost or market value.
(2)	Other NPAs represent certain investment securities backed by mortgage loans to borrowers with lower FICO scores.
(3)	Nonperforming assets divided by the sum of loans and leases, impaired loans held for sale, net other real estate, and other NPAs.
(4)	Restructured loans are net of loan losses and payments.

11

Huntington Bancshares Incorporated

Quarterly Stock Summary, Capital, and Other Data

(Unaudited)

Quarterly common stock summary

	2007								2006
(in thousands, except per share amounts)	Fourth		Third		Second		First		Fourth
Common stock price, per share
High (1)	$	18.390	$	22.930	$	22.960	$	24.140	$	24.970
Low (1)		13.500		16.050		21.300		21.610		22.870
Close		14.760		16.980		22.740		21.850		23.750
Average closing price		16.125		18.671		22.231		23.117		24.315
Dividends, per share
Cash dividends declared on common stock	$	0.265	$	0.265	$	0.265	$	0.265	$	0.250
Common shares outstanding
Average — basic		366,119		365,895		236,032		235,586		236,426
Average — diluted		366,119		368,280		239,008		238,754		239,881
Ending		366,262		365,898		236,244		235,714		235,474
Book value per share	$	16.24	$	17.08	$	12.97	$	12.95	$	12.80
Tangible book value per share		7.13		8.10		10.41		10.37		10.21
Common share repurchases
Number of shares repurchased		—		—		—		—		3,050

Capital data

	2007												2006
(in millions)	December 31,			September 30,			June 30,			March 31,			December 31,
Calculation of tangible equity / asset ratio:
Total shareholders’ equity	$	5,949		$	6,250		$	3,064		$	3,051		$	3,014
Less: goodwill		(3,059	)		(2,996	)		(570	)		(570	)		(571	)
Less: other intangible assets		(428	)		(443	)		(55	)		(57	)		(59	)
Add: related deferred tax liability (2)		150			155			19			20			21
Total tangible equity	$	2,612		$	2,965		$	2,459		$	2,444		$	2,405
Total assets	$	54,697		$	55,304		$	36,421		$	34,979		$	35,329
Less: goodwill		(3,059	)		(2,996	)		(570	)		(570	)		(571	)
Less: other intangible assets		(428	)		(443	)		(55	)		(57	)		(59	)
Add: related deferred tax liability (2)		150			155			19			20			21
Total tangible assets	$	51,360		$	52,020		$	35,815		$	34,372		$	34,719
Tangible equity / asset ratio		5.08	%		5.70	%		6.87	%		7.11	%		6.93	%
Other capital data:
Total risk-weighted assets (3)	$	45,852		$	45,931		$	32,121		$	31,473		$	31,155
Tier 1 leverage ratio (3)		6.77	%		7.57	%		9.07	%		8.24	%		8.00	%
Tier 1 risk-based capital ratio (3)		7.55			8.35			9.74			8.98			8.93
Total risk-based capital ratio (3)		10.89			11.58			13.49			12.82			12.79
Tangible equity / risk-weighted assets ratio (3)		5.70			6.46			7.66			7.77			7.72
Average equity / average assets		11.40			11.50			8.66			8.63			8.70
Other data:
Number of employees (full-time equivalent)		11,925			12,312			8,410			8,029			8,081
Number of domestic full-service banking offices (4)		625			620			379			375			381

(1)	High and low stock prices are intra-day quotes obtained from NASDAQ.
(2)	Deferred tax liability related to other intangible assets is calculated assuming a 35% tax rate.
(3)	December 31, 2007 figures are estimated. Based on an interim decision by the banking agencies on December 14, 2006, Huntington has excluded the impact of adopting Statement 158 from the regulatory capital calculations.
(4)	Includes Private Financial Group offices.

12

Huntington Bancshares Incorporated
Consolidated Annual Average Balance Sheets
(Unaudited)

	Annual Average Balances
Fully taxable equivalent basis				Change from 2006									Change from 2005
(in millions)	2007			Amount			%			2006			Amount			%			2005			2004			2003
Assets
Interest bearing deposits in banks	$	260		$	207			N.M.		$	53		$	—			—	%	$	53		$	66		$	37
Trading account securities		642			550			N.M.			92			(115	)		(55.6	)		207			105			14
Federal funds sold and securities purchased under resale agreements		591			270			84.1			321			59			22.5			262			319			87
Loans held for sale		362			87			31.6			275			(43	)		(13.5	)		318			243			564
Investment securities:
Taxable		3,653			(544	)		(13.0	)		4,197			514			14.0			3,683			4,425			3,533
Tax-exempt		646			76			13.3			570			95			20.0			475			412			334
Total investment securities		4,299			(468	)		(9.8	)		4,767			609			14.6			4,158			4,837			3,867
Loans and leases: (1)
Commercial:
Middle market commercial and industrial		8,252			2,694			48.5			5,558			741			15.4			4,817			4,456			4,633
Middle market commercial real estate:
Construction		1,511			261			20.9			1,250			(428	)		(25.5	)		1,678			1,420			1,219
Commercial		4,267			1,516			55.1			2,751			843			44.2			1,908			1,922			1,800
Middle market commercial real estate		5,778			1,777			44.4			4,001			415			11.6			3,586			3,342			3,019
Small business		3,413			1,107			48.0			2,306			82			3.7			2,224			2,003			1,787
Total commercial		17,443			5,578			47.0			11,865			1,238			11.7			10,627			9,801			9,439
Consumer:
Automobile loans		2,633			576			28.0			2,057			14			0.7			2,043			2,285			3,260
Automobile leases		1,485			(546	)		(26.9	)		2,031			(391	)		(16.1	)		2,422			2,192			1,423
Automobile loans and leases		4,118			30			0.7			4,088			(377	)		(8.4	)		4,465			4,477			4,683
Home equity		6,173			1,203			24.2			4,970			218			4.6			4,752			4,244			3,400
Residential mortgage		4,939			358			7.8			4,581			500			12.3			4,081			3,212			2,076
Other loans		529			90			20.5			439			54			14.0			385			393			426
Total consumer		15,759			1,681			11.9			14,078			395			2.9			13,683			12,326			10,585
Total loans and leases		33,202			7,259			28.0			25,943			1,633			6.7			24,310			22,127			20,024
Allowance for loan and lease losses		(382	)		(95	)		(33.1	)		(287	)		(19	)		(7.1	)		(268	)		(298	)		(330	)
Net loans and leases		32,820			7,164			27.9			25,656			1,614			6.7			24,042			21,829			19,694
Total earning assets		39,356			7,905			25.1			31,451			2,143			7.3			29,308			27,697			24,593
Cash and due from banks		930			105			12.7			825			(20	)		(2.4	)		845			843			774
Intangible assets		2,019			1,452			N.M.			567			349			N.M.			218			216			218
All other assets		2,789			233			9.1			2,556			20			0.8			2,536			2,975			3,717
Total Assets	$	44,712		$	9,600			27.3		$	35,112		$	2,473			7.6		$	32,639		$	31,433		$	28,972
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — non-interest bearing	$	4,438		$	908			25.7	%	$	3,530		$	151			4.5	%	$	3,379		$	3,230		$	3,080
Demand deposits — interest bearing		3,129			991			46.4			2,138			218			11.4			1,920			1,953			1,822
Money market deposits		6,173			569			10.2			5,604			(134	)		(2.3	)		5,738			5,254			4,371
Savings and other domestic deposits		3,895			903			30.2			2,992			(163	)		(5.2	)		3,155			3,431			3,462
Core certificates of deposit		8,057			3,007			59.5			5,050			1,716			51.5			3,334			2,689			3,115
Total core deposits		25,692			6,378			33.0			19,314			1,788			10.2			17,526			16,557			15,850
Other domestic deposits of $100,000 or more		1,494			381			34.2			1,113			203			22.3			910			593			389
Brokered deposits and negotiable CDs		3,239			(3	)		(0.1	)		3,242			123			3.9			3,119			1,837			1,419
Deposits in foreign offices		641			126			24.5			515			58			12.7			457			508			500
Total deposits		31,066			6,882			28.5			24,184			2,172			9.9			22,012			19,495			18,158
Short-term borrowings		2,245			445			24.7			1,800			421			30.5			1,379			1,410			1,600
Federal Home Loan Bank advances		2,027			658			48.1			1,369			264			23.9			1,105			1,271			1,258
Subordinated notes and other long-term debt		3,688			114			3.2			3,574			(490	)		(12.1	)		4,064			5,379			4,559
Total interest bearing liabilities		34,588			7,191			26.2			27,397			2,216			8.8			25,181			24,325			22,495
All other liabilities		1,054			(185	)		(14.9	)		1,239			(257	)		(17.2	)		1,496			1,504			1,201
Shareholders’ equity		4,632			1,686			57.2			2,946			363			14.1			2,583			2,374			2,196
Total Liabilities and Shareholders’ Equity	$	44,712		$	9,600			27.3	%	$	35,112		$	2,473			7.6	%	$	32,639		$	31,433		$	28,972

N.M., not a meaningful value.

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

13

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

	Annual Average Rates (2)
Fully Taxable Equivalent basis (1)	2007			2006			2005			2004			2003
Assets
Interest bearing deposits in banks		4.80	%		6.00	%		2.16	%		1.05	%		1.53	%
Trading account securities		5.84			4.19			4.08			4.15			4.02
Federal funds sold and securities purchased under resale agreements		5.05			5.00			2.27			1.73			1.80
Loans held for sale		5.69			6.10			5.64			5.35			5.32
Investment securities:
Taxable		6.07			5.47			4.31			3.88			4.52
Tax-exempt		6.72			6.75			6.71			6.98			7.04
Total investment securities		6.17			5.62			4.58			4.14			4.73
Loans and leases (3):
Commercial:
Middle market commercial and industrial		7.44			7.38			5.79			4.41			4.82
Middle market commercial real estate:
Construction		7.77			8.08			6.43			4.52			4.21
Commercial		7.46			7.46			5.93			4.58			4.97
Middle market commercial real estate		7.54			7.65			6.16			4.55			4.66
Small business		7.51			7.20			6.18			5.50			5.91
Total commercial		7.49			7.43			6.00			4.68			5.00
Consumer:
Automobile loans		7.17			6.57			6.52			7.22			7.43
Automobile leases		5.41			5.07			4.94			5.00			5.12
Automobile loans and leases		6.53			5.82			5.66			6.14			6.73
Home equity		7.77			7.44			6.07			4.92			4.89
Residential mortgage		5.79			5.44			5.22			5.07			5.40
Other loans		10.51			9.07			10.23			7.51			8.55
Total consumer		6.92			6.37			5.80			5.48			5.95
Total loans and leases		7.22			6.86			5.89			5.13			5.50
Total earning assets		7.02	%		6.63	%		5.65	%		4.89	%		5.35	%
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — non-interest bearing		—	%		—	%		—	%		—	%		—	%
Demand deposits — interest bearing		1.29			0.90			0.55			0.42			0.55
Money market deposits		3.77			3.45			2.18			1.25			1.44
Savings and other domestic deposits		2.33			1.68			1.36			1.28			1.96
Core certificates of deposit		4.86			4.25			3.56			3.36			3.67
Total core deposits		3.55			3.02			2.10			1.56			2.00
Other domestic deposits of $100,000 or more		5.07			4.99			3.39			1.90			1.17
Brokered deposits and negotiable CDs		5.41			5.22			3.51			1.80			1.70
Deposits in foreign offices		3.19			2.93			2.10			0.82			0.92
Total deposits		3.85			3.47			2.40			1.58			1.91
Short-term borrowings		4.13			4.01			2.49			0.93			0.98
Federal Home Loan Bank advances		5.06			4.38			3.13			2.62			1.94
Subordinated notes and other long-term debt		5.96			5.65			4.02			2.46			2.82
Total interest bearing liabilities		4.17			3.84			2.70			1.79			2.03
Net interest rate spread		2.85			2.79			2.95			3.10			3.32
Impact of non-interest bearing funds on margin		0.51			0.50			0.38			0.23			0.17
Net interest margin		3.36	%		3.29	%		3.33	%		3.33	%		3.49	%

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

14

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

	Year Ended December 31,
				Change from 2006									Change from 2005
(in thousands, except per share amounts)	2007			Amount			%			2006			Amount			%			2005			2004			2003
Interest income	$	2,742,963		$	672,444			32.5	%	$	2,070,519		$	428,754			26.1	%	$	1,641,765		$	1,347,315		$	1,305,756
Interest expense		1,441,451			390,109			37.1			1,051,342			371,988			54.8			679,354			435,941			456,770
Net interest income		1,301,512			282,335			27.7			1,019,177			56,766			5.9			962,411			911,374			848,986
Provision for credit losses		643,628			578,437			N.M.			65,191			(16,108	)		(19.8	)		81,299			55,062			163,993
Net interest income after provision for credit losses		657,884			(296,102	)		(31.0	)		953,986			72,874			8.3			881,112			856,312			684,993
Service charges on deposit accounts		254,193			68,480			36.9			185,713			17,879			10.7			167,834			171,115			167,840
Trust services		121,418			31,463			35.0			89,955			12,550			16.2			77,405			67,410			61,649
Brokerage and insurance income		92,375			33,540			57.0			58,835			5,216			9.7			53,619			54,799			57,844
Other service charges and fees		71,067			19,713			38.4			51,354			7,006			15.8			44,348			41,574			41,446
Bank owned life insurance income		49,855			6,080			13.9			43,775			3,039			7.5			40,736			42,297			43,028
Mortgage banking income		29,804			(11,687	)		(28.2	)		41,491			13,158			46.4			28,333			26,786			58,180
Securities (losses) gains		(29,738	)		43,453			(59.4	)		(73,191	)		(65,136	)		N.M.			(8,055	)		15,763			5,258
Gain on sale of branch offices		—			—			—			—			—			—			—			—			13,112
Other income (2)		87,629			(75,508	)		(46.3	)		163,137			(64,925	)		(28.5	)		228,062			398,854			620,796
Total non-interest income		676,603			115,534			20.6			561,069			(71,213	)		(11.3	)		632,282			818,598			1,069,153
Personnel costs		686,828			145,600			26.9			541,228			59,570			12.4			481,658			485,806			447,263
Outside data processing and other services		127,245			48,466			61.5			78,779			4,141			5.5			74,638			72,115			66,118
Net occupancy		99,373			28,092			39.4			71,281			189			0.3			71,092			75,941			62,481
Equipment		81,482			11,570			16.5			69,912			6,788			10.8			63,124			63,342			65,921
Amortization of intangibles		45,151			35,189			N.M.			9,962			9,133			N.M.			829			817			816
Marketing		46,043			14,315			45.1			31,728			5,449			20.7			26,279			24,600			25,648
Professional services		40,320			13,267			49.0			27,053			(7,516	)		(21.7	)		34,569			36,876			42,448
Telecommunications		24,502			5,250			27.3			19,252			604			3.2			18,648			19,787			21,979
Printing and supplies		18,251			4,387			31.6			13,864			1,291			10.3			12,573			12,463			13,009
Restructuring reserve releases		—			—			—			—			—			—			—			(1,151	)		(6,666	)
Loss on early extinguishment of debt		—			—			—			—			—			—			—			—			15,250
Other expense (2)		142,649			4,714			3.4			137,935			(48,475	)		(26.0	)		186,410			331,648			475,892
Total non-interest expense		1,311,844			310,850			31.1			1,000,994			31,174			3.2			969,820			1,122,244			1,230,159
Income before income taxes		22,643			(491,418	)		(95.6	)		514,061			(29,513	)		(5.4	)		543,574			552,666			523,987
(Benefit) Provision for income taxes		(52,526	)		(105,366	)		N.M.			52,840			(78,643	)		(59.8	)		131,483			153,741			138,294
Income before cumulative effect of change in accounting principle		75,169			(386,052	)		(83.7	)		461,221			49,130			11.9			412,091			398,925			385,693
Cumulative effect of change in accounting principle, net of tax		—			—			—			—			—			—			—			—			(13,330	)
Net income	$	75,169			(386,052	)		(83.7	)%	$	461,221			49,130			11.9	%	$	412,091		$	398,925		$	372,363
Average common shares — diluted		303,455			63,535			26.5	%		239,920			6,445			2.8	%		233,475			233,856			231,582
Per common share
Net income per common share — diluted		0.25			(1.67	)		(87.0	)		1.92			0.15			8.5			1.77			1.71			1.61
Cash dividends declared		1.060			0.060			6.0			1.000			0.155			18.3			0.845			0.750			0.670
Return on average total assets		0.17	%		(1.14	)%		(87.02	)		1.31	%		0.05	%		3.97			1.26	%		1.27	%		1.29	%
Return on average total shareholders’ equity		1.6			(14.1	)		(89.8	)		15.7			(0.3	)		(1.9	)		16.0			16.8			17.0
Return on average tangible shareholders’ equity (3)		4.0			(15.7	)		(79.7	)		19.7			2.3			13.2			17.4			18.5			19.5
Net interest margin (4)		3.36			0.07			2.1			3.29			(0.04	)		(1.2	)		3.33			3.33			3.49
Efficiency ratio (5)		62.5			3.1			5.2			59.4			(0.6	)		(1.0	)		60.0			65.0			63.9
Effective tax rate		N.M.			N.M.			N.M.			10.3			(13.90	)		(57.4	)		24.2			27.8			26.4
Revenue — fully taxable equivalent (FTE)
Net interest income	$	1,301,512		$	282,335			27.7	%	$	1,019,177		$	56,766			5.9	%	$	962,411		$	911,374		$	848,986
FTE adjustment (4)		19,249			3,224			20.1			16,025			2,632			19.7			13,393			11,653			9,684
Net interest income		1,320,761			285,559			27.6			1,035,202			59,398			6.1			975,804			923,027			858,670
Non-interest income		676,603			115,534			20.6			561,069			(71,213	)		(11.3	)		632,282			818,598			1,069,153
Total revenue	$	1,997,364		$	401,093			25.1	%	$	1,596,271		$	(11,815	)		(0.7	)%	$	1,608,086		$	1,741,625		$	1,927,823

N.M., not a meaningful value.
(1)	Comparisons for presented periods are impacted by a number of factors. Refer to the ‘Significant Items Influencing Financial Performance Comparisons’.
(2)	Automobile operating lease income and expense is included in ‘Other Income’ and ‘Other Expense’, respectively.
(3)	Net income less expense for amortization of intangibles (net of tax) for the period divided by average tangible common shareholders’ equity. Average tangible common shareholders’ equity equals average total common shareholders’ equity less average goodwill and other intangible assets. Other intangible assets are net of deferred tax.
(4)	On a fully taxable equivalent (FTE) basis assuming a 35% tax rate.
(5)	Non-interest expense less amortization of intangibles divided by the sum of FTE net interest income and non-interest income excluding securities losses.

15

Huntington Bancshares Incorporated
Annual Mortgage Banking Income
(Unaudited)

	Year Ended December 31,
(in thousands, except as noted)	2007			2006			2005			2004			2003
Mortgage Banking Income
Origination and secondary marketing	$	25,965		$	18,217		$	24,934		$	22,709		$	40,879
Servicing fees		36,012			24,659			22,181			21,696			16,906
Amortization of capitalized servicing (1)		(20,587	)		(15,144	)		(18,359	)		(19,019	)		(25,966	)
Other mortgage banking income		13,198			10,173			8,583			10,024			11,404
Sub-total		54,588			37,905			37,339			35,410			43,223
MSR valuation adjustment (1)		(16,131	)		4,871			4,371			1,378			14,957
Net trading (losses) gains related to MSR hedging		(8,653	)		(1,285	)		(13,377	)		(10,002	)		—
Total mortgage banking income	$	29,804		$	41,491		$	28,333		$	26,786		$	58,180
Capitalized mortgage servicing rights (2)	$	207,894		$	131,104		$	91,259		$	77,107		$	71,087
MSR allowance (2)		—			—			(404	)		(4,775	)		(6,153	)
Total mortgages serviced for others (in millions) (2)		15,088			8,252			7,276			6,861			6,394
MSR % of investor servicing portfolio		1.38	%		1.59	%		1.25	%		1.12	%		1.11	%
Net Impact of MSR Hedging
MSR valuation adjustment (1)	$	(16,131	)	$	4,871		$	4,371		$	1,378		$	14,957
Net trading (losses) gains related to MSR hedging		(8,653	)		(1,285	)		(13,377	)		(10,002	)		—
Net interest income related to MSR hedging		5,797			36			1,688			1,450			—
Other MSR hedge activity		—			—			—			(4,492	)		—
Net impact of MSR hedging	$	(18,987	)	$	3,622		$	(7,318	)	$	(11,666	)	$	14,957

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

16

Huntington Bancshares Incorporated
Annual Credit Reserves Analysis
(Unaudited)

	Year Ended December 31,
(in thousands)	2007			2006			2005			2004			2003
Allowance for loan and lease losses, beginning of period	$	272,068		$	268,347		$	271,211		$	299,732		$	300,503
Acquired allowance for loan and lease losses		188,128			23,785			—			—			—
Loan and lease losses		(517,943	)		(119,692	)		(115,848	)		(126,115	)		(201,534	)
Recoveries of loans previously charged off		40,312			37,316			35,791			47,580			39,725
Net loan and lease losses		(477,631	)		(82,376	)		(80,057	)		(78,535	)		(161,809	)
Provision for loan and lease losses		628,802			62,312			83,782			57,397			164,616
Economic reserve transfer		—			—			(6,253	)		—			—
Allowance of assets sold and securitized		—			—			(336	)		(7,383	)		(3,578	)
Allowance for loans transferred to held-for-sale		(32,925	)		—			—			—			—
Allowance for loan and lease losses, end of period	$	578,442		$	272,068		$	268,347		$	271,211		$	299,732
Allowance for unfunded loan commitments and letters of credit, beginning of period	$	40,161		$	36,957		$	33,187		$	35,522		$	36,145
Acquired AULC		11,541			325			—			—			—
Provision for unfunded loan commitments and letters of credit losses		14,826			2,879			(2,483	)		(2,335	)		(623	)
Economic reserve transfer		—			—			6,253			—			—
Allowance for unfunded loan commitments and letters of credit, end of period	$	66,528		$	40,161		$	36,957		$	33,187		$	35,522
Total allowances for credit losses	$	644,970		$	312,229		$	305,304		$	304,398		$	335,254
Allowance for loan and lease losses (ALLL) as % of:
Transaction reserve		1.27	%		0.86	%		0.89	%		0.83	%		1.02	%
Economic reserve		0.17			0.18			0.21			0.32			0.40
Total loans and leases		1.44	%		1.04	%		1.10	%		1.15	%		1.42	%
Nonaccrual loans and leases (NALs)		181			189			263			424			397
Total allowances for credit losses (ACL) as % of:
Total loans and leases		1.61	%		1.19	%		1.25	%		1.29	%		1.59	%
Nonaccrual loans and leases		202			217			300			476			444

17

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

	Year Ended December 31,
(in thousands)	2007			2006			2005			2004			2003
Net charge-offs by loan and lease type:
Commercial:
Middle market commercial and industrial	$	329,862		$	6,318		$	13,578		$	1,920		$	75,803
Middle market commercial real estate:
Construction		11,845			3,553			135			2,465			2,928
Commercial		26,400			2,555			3,910			5,506			5,019
Middle market commercial real estate		38,245			6,108			4,045			7,971			7,947
Small business		16,837			15,225			11,951			5,566			11,625
Total commercial		384,944			27,651			29,574			15,457			95,375
Consumer:
Automobile loans		17,185			8,330			11,988			28,574			40,266
Automobile leases		10,507			10,445			11,664			10,837			5,728
Automobile loans and leases		27,692			18,775			23,652			39,411			45,994
Home equity		34,426			21,854			17,619			15,074			12,114
Residential mortgage		11,371			4,505			2,332			1,760			832
Other loans		19,198			9,591			6,880			6,833			7,494
Total consumer		92,687			54,725			50,483			63,078			66,434
Total net charge-offs	$	477,631		$	82,376		$	80,057		$	78,535		$	161,809
Net charge-offs annualized percentages:
Commercial:
Middle market commercial and industrial		4.00	%		0.11	%		0.28	%		0.04	%		1.64	%
Middle market commercial real estate:
Construction		0.78			0.28			0.01			0.17			0.24
Commercial		0.62			0.09			0.20			0.29			0.28
Middle market commercial real estate		0.66			0.15			0.11			0.24			0.26
Small business		0.49			0.66			0.54			0.28			0.65
Total commercial		2.21			0.23			0.28			0.16			1.01
Consumer:
Automobile loans		0.65			0.40			0.59			1.25			1.24
Automobile leases		0.71			0.51			0.48			0.49			0.40
Automobile loans and leases		0.67			0.46			0.53			0.88			0.98
Home equity		0.56			0.44			0.37			0.36			0.36
Residential mortgage		0.23			0.10			0.06			0.05			0.04
Other loans		3.63			2.18			1.79			1.74			1.76
Total consumer		0.59			0.39			0.37			0.51			0.63
Net charge-offs as a % of average loans		1.44	%		0.32	%		0.33	%		0.35	%		0.81	%

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Huntington Bancshares Incorporated
Annual Nonaccrual Loans (NALs), Nonperforming Assets (NPAs) and Past Due Loans and Leases
(Unaudited)

	December 31,
(in thousands)	2007			2006			2005			2004			2003
Nonaccrual loans and leases:
Middle market commercial and industrial	$	51,875		$	35,657		$	28,888		$	24,179		$	33,745
Middle market commercial real estate		132,157			34,831			15,763			4,582			18,434
Small business		52,114			25,852			28,931			14,601			13,607
Residential mortgage		59,557			32,527			17,613			13,545			9,695
Home equity		24,068			15,266			10,720			7,055			—
Total nonaccrual loans and leases		319,771			144,133			101,915			63,962			75,481
Restructured loans		1,187,368			—			—			—			—
Other real estate, net:
Residential		72,467			47,898			14,214			8,762			6,918
Commercial		2,804			1,589			1,026			35,844			4,987
Total other real estate, net		75,271			49,487			15,240			44,606			11,905
Impaired loans held for sale (1)		73,481			—			—			—			—
Other NPAs (2)		4,379			—			—			—			—
Total nonperforming assets	$	1,660,270		$	193,620		$	117,155		$	108,568		$	87,386
Nonperforming loans and leases as a % of total loans and leases		0.80	%		0.55	%		0.42	%		0.27	%		0.36	%
NPA ratio (3)		4.13			0.74			0.48			0.46			0.41
Accruing loans and leases past due 90 days or more	$	140,977		$	59,114		$	56,138		$	54,283		$	55,913
Accruing loans and leases past due 90 days or more as a percent of total loans and leases		0.35	%		0.23	%		0.23	%		0.23	%		0.27	%

	December 31,
(in thousands)	2007			2006			2005			2004			2003
Nonperforming assets, beginning of period	$	193,620		$	117,155		$	108,568		$	87,386		$	136,723
New nonperforming assets (4)		468,056			222,043			171,150			137,359			222,043
Restructured loans (5)		1,187,368			—			—			—			—
Acquired nonperforming assets		144,492			33,843			—			—			—
Returns to accruing status		(24,952	)		(43,999	)		(7,547	)		(3,795	)		(16,632	)
Loan and lease losses		(126,754	)		(46,191	)		(38,819	)		(37,337	)		(109,905	)
Payments		(86,093	)		(59,469	)		(64,861	)		(43,319	)		(83,886	)
Sales		(95,467	)		(29,762	)		(51,336	)		(31,726	)		(60,957	)
Non-performing assets, end of period	$	1,660,270		$	193,620		$	117,155		$	108,568		$	87,386

(1)	Represent impaired loans obtained from the Sky acquisition that are intended to be sold. Held for sale loans are carried at the lower of cost or market value.
(2)	Other NPAs represent certain investment securities backed by mortgage loans to borrowers with lower FICO scores.
(3)	Nonperforming assets divided by the sum of loans and leases, impaired loans held for sale, net other real estate, and other NPAs.
(4)	Beginning in the second quarter of 2006, new nonperforming assets include OREO balances of loans in foreclosure which are fully guaranteed by the U.S. Government that were reported in 90 day past due loans and leases in prior periods.
(5)	Restructured loans are net of loan losses and payments.

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