8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

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

Date of Report (Date of earliest event reported) October 16, 2008

HUNTINGTON BANCSHARES INCORPORATED

(Exact name of registrant as specified in its charter)

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

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

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

Not Applicable

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

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

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

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

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

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

Item 2.02. Results of Operations and Financial Condition.

     On October 16, 2008, Huntington Bancshares Incorporated (“Huntington”) issued a news release announcing its earnings for the quarter ended September 30, 2008. Also on October 16, 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 on October 16, 2008, at 1:00 p.m. EDT. 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 67292430. Slides will be available at www.huntington-ir.com just prior to 1:00 p.m. EDT on October 16, 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 October 31, 2008, at 800-642-1687; conference call ID 67292430.

     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) changes in economic conditions; (3) movements in interest rates; (4) competitive pressures on product pricing and services; (5) success and timing of other business strategies; (6) the nature, extent, and timing of governmental actions and reforms; and (7) extended disruption of vital infrastructure. The Emergency Economic Stabilization Act of 2008 (EESA) passed 10/3/08 could have an undetermined material impact on company performance depending on rules of participation that have yet to be finalized. Additional factors that could cause results to differ materially from those described above can be found in Huntington’s 2007 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 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 October 16, 2008.

Exhibit 99.2 — Quarterly Financial Review, September 2008.

SIGNATURES

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

	HUNTINGTON BANCSHARES INCORPORATED
Date: October 16, 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, October 16, 2008.
Exhibit 99.2	Quarterly Financial Review, September 2008.

EX-99.1

Exhibit 99.1

NEWSRELEASE

FOR IMMEDIATE RELEASE
October 16, 2008

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

HUNTINGTON BANCSHARES REPORTS:

• 2008 THIRD QUARTER NET INCOME OF $115.2 MILLION, OR $0.28 PER COMMON SHARE

• Stable net interest margin of 3.29%

• 4% annualized linked-quarter increase in average total core deposits

• Annualized net charge-offs of 0.82%

• $42 million net increase in the allowance for credit losses to 1.90%

• 5% increase in non-performing assets

• 8.86% Tier 1 capital ratio and 12.09% Total risk-based capital ratio

• 2008 FULL-YEAR REPORTED EARNINGS TARGET OF $1.12-$1.16 PER COMMON SHARE

     COLUMBUS, Ohio — Huntington Bancshares Incorporated (NASDAQ: HBAN; www.huntington.com) reported 2008 third quarter net income of $115.2 million, or $0.28 per common share. This compared with net income of $101.4 million, or $0.25 per common share, in the 2008 second quarter and $138.2 million, or $0.38 per common share, in the year-ago quarter.

     Huntington also revised its 2008 full-year reported earnings target to $1.12-$1.16 per common share. This is down from the previously targeted amount of $1.25-$1.35 per common share. The decline reflects an assumed continuation of economic deterioration in our markets, the more volatile and more competitive funding environment, and lower market-related fee income.

PERFORMANCE OVERVIEW

     Performance compared with the 2008 second quarter included:

• Net income of $0.28 per common share, or 12% higher than second quarter net income of $0.25 per common share. Current quarter earnings were positively impacted by a net $0.01 per common share, reflecting the benefit of net market-related gains, partially offset by a Visa^®-related tax increase. The 2008 second quarter earnings were negatively impacted by a net $0.03 per common share reflecting the significant items detailed in

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  Table 1 below.

• $125.4 million of provision for credit losses, up from $120.8 million in the second quarter, and $41.6 million higher than net charge-offs.

• $83.8 million of net charge-offs, or an annualized 0.82% of average total loans and leases, up from an annualized 0.64% in the second quarter.

• 3.29% net interest margin, unchanged from the 2008 second quarter.

• 4% annualized linked-quarter growth in average total commercial loans and a 5% annualized linked-quarter decline in average total consumer loans, reflecting loan sales in the prior quarter.

• 4% annualized linked-quarter increase in average total core deposits.

• Significant linked-quarter declines in trust services, customer derivative income, brokerage and insurance income, and mortgage banking income, reflecting lower origination volume.

• $38.8 million linked-quarter decrease in total non-interest expense, including the positive impacts of a $21.4 million debt extinguishment gain in the current quarter and no merger-costs.

• 1.90% period-end allowance for credit losses (ACL) ratio, up from 1.80% at the end of the second quarter.

• 5% increase in non-performing assets (NPAs), primarily reflecting a 10% increase in non-accrual loans (NALs) with most of the increase in commercial real estate (CRE) loans and commercial and industrial (C&I) loans. Period-end NALs represented 1.42% of total loans and leases, up from 1.30% at June 30, 2008.

• 8.86% and 12.09% period-end Tier 1 and Total risk-based capital ratios, compared with 8.82% and 12.05%, respectively, at June 30, 2008, and well above the regulatory “well capitalized” thresholds of 6.0% and 10.0%, respectively. The “well capitalized” level is the highest regulatory capital designation.

     “Huntington’s third quarter results were quite solid during this period of unprecedented economic and capital markets turmoil,” said Thomas E. Hoaglin, chairman, president, and chief executive officer. “This is a testimony to the soundness of our franchise, the strength of our balance sheet, and the advantage of being a local bank that knows its markets and customers, who, in turn, continue to demonstrate their confidence in us.”

     “With the economy weakening further, the most prevalent investor issue relates to our credit quality outlook,” he continued. “Because of actions taken over the last several years to reduce the risk inherent in our credit underwriting practices, net charge-offs and problem assets are increasing, but at a manageable pace. Even so, this will continue to place pressure on earnings as we build our allowance for credit losses to assure it is sufficient to handle an environment that we expect will continue to be weak through next year. For the quarter, net charge-off performance was pretty much on target and we increased our allowance for credit losses by 10 basis points as expected. Reserve building will continue, though at a slightly slower pace.”

     “Investors are also concerned about capital levels,” Hoaglin commented. “The $569 million of preferred stock we issued earlier this year was especially well-timed, adding to both capital and liquidity. Nevertheless, and even more important, the ability to deliver solid net income

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performance permitted us to build capital this quarter. At quarter end, our regulatory capital was $1 billion above the regulatory “well capitalized” threshold. ”

     Hoaglin further noted, “Contributing to the solid earnings performance was a stable net interest margin. We were pleased with this performance in a time of volatile interest rates and unprecedented swings in funding spreads, as well as an extremely competitive loan and deposit pricing environment. Average core deposits grew at a 4% annualized rate. Average commercial loans increased at a 4% annualized rate though average consumer loans declined, reflecting loan sales in the prior quarter. Fee income performance was not as good as expected since many fee-based activity levels have declined in this environment and lower market valuations decreased the value of managed assets. Expenses, however, continued to be very well controlled.”

     “As we head into the fourth quarter, our view is that difficult times will remain and challenges for our customers will increase. As we continue to serve them, we expect fourth quarter performance will mirror that of the third quarter in many ways: stable net interest margin, modest loan growth, good deposit growth, and stable fee income and expenses. The main variable to earnings performance is the degree of economic weakness, how that influences credit quality performance, and what that means regarding reserve levels. We expect net charge-offs to increase to 90-110 basis points in the fourth quarter, utilizing reserves already established. Such performance would result in full-year net charge-offs of 70-75 basis points. I think it is noteworthy that this is only a 10 basis point increase in the range we originally expected last January. We expect to continue to build reserves in the fourth quarter. Our current expectation is that fourth quarter earnings will likely be $0.25-$0.29 per common share, which would translate into 2008 full year earnings of $1.12-$1.16 per common share. Admittedly, this is below the expectations we had last July. However, 2008 has turned out to be a much more challenging year than anyone ever envisioned. Yet, we firmly believe our investors and customers will view this level of performance, in this environment, as a successful and profitable year,” he concluded.

THIRD QUARTER PERFORMANCE DISCUSSION

Significant Items Influencing Financial Performance Comparisons

     Specific significant items impacting 2008 third quarter performance included (see Table 1 below):

• $11.8 million pre-tax ($0.02 per common share) positive impact of net market-related gains consisting of:

• $21.4 million gain from debt extinguishment included in other non-interest expense,

• $3.7 million of equity investment gains,

• $1.9 million net positive impact of mortgage servicing rights (MSR) hedging consisting of an $8.4 million net interest income benefit, partially offset by a $6.5 million net impairment loss,

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              Partially offset by:

• $15.2 million of securities losses, including $17.9 million of other than temporary impairment on certain asset-backed securities.

• $3.7 million ($0.01 per common share) increase to provision for income taxes, representing an increase to the previously established capital loss carry-forward valuation allowance related to a decline in value of Visa^® shares held.

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

Three Months Ended	Impact (2)
(in millions, except per share)	Pre-tax			EPS (3)
September 30, 2008 - GAAP earnings	$	115.2	(3)	$	0.28
• Net market-related gains		11.8			0.02
• Deferred tax valuation allowance adjustment		(3.7	)(3)		(0.01	)
June 30, 2008 - GAAP earnings	$	101.4	(3)	$	0.25
• Deferred tax valuation allowance benefit		3.4	(3)		0.01
• Merger/restructuring costs		(14.6	)		(0.03	)
• Net market-related losses		(6.8	)		(0.01	)
September 30, 2007 - GAAP earnings	$	138.2	(3)	$	0.38
• Merger costs		(32.3	)		(0.06	)
• Net market-related losses		(18.0	)		(0.03	)

(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; EPS reflected on a fully diluted basis

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

2008 Third Quarter versus 2008 Second Quarter

     Compared with the 2008 second quarter, fully taxable equivalent net interest income decreased $1.4 million. This reflected a $0.6 billion, or 1%, decline in average earning assets as the net interest margin was unchanged at 3.29%.

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     Table 2 details the slight decrease in average loans and leases.

Table 2 — Loans and Leases — 3Q08 vs. 2Q08

	Third		Second
	Quarter		Quarter		Change
(in billions)	2008		2008		Amount			%
Average Loans and Leases
Commercial and industrial	$	13.6	$	13.6	$	(0.0	)		(0	)%
Commercial real estate		9.8		9.6		0.2			2
Total commercial		23.4		23.2		0.2			1
Automobile loans and leases		4.6		4.6		0.1			2
Home equity		7.5		7.4		0.1			1
Residential mortgage		4.8		5.2		(0.4	)		(7	)
Other consumer		0.7		0.7		(0.0	)		(4	)
Total consumer		17.6		17.8		(0.2	)		(1	)
Total loans and leases	$	41.0	$	41.0	$	(0.0	)		(0	)%

     Average total loans and leases were essentially unchanged between quarters. However, average total commercial loans increased 1%, reflecting 2% growth in CRE loans, as total average C&I loans were little changed. The third quarter CRE growth was comprised primarily of new or increased loan facilities to existing borrowers. This growth was not associated with the single family home builder segment as exposure to this segment declined during the quarter. Average total consumer loans decreased $0.2 billion, or 1%, reflecting a $0.4 billion, or 7%, decline in average residential mortgages due to a full quarter’s impact of $473 million of the residential mortgages sold in the second quarter. Average automobile loans and leases increased 2%, with average home equity loans increasing 1%. We remain very comfortable with our origination strategies in the consumer segments, and are confident that we are continuing to lend to high quality borrowers.

     Table 3 details the $0.2 billion decline in average total deposits.

Table 3 — Deposits — 3Q08 vs. 2Q08

	Third		Second
	Quarter		Quarter		Change
(in billions)	2008		2008		Amount			%
Average Deposits
Demand deposits — non-interest bearing	$	5.1	$	5.1	$	0.0			0	%
Demand deposits — interest bearing		4.0		4.1		(0.1	)		(2	)
Money market deposits		5.9		6.3		(0.4	)		(6	)
Savings and other domestic deposits		4.9		5.0		(0.1	)		(3	)
Core certificates of deposit		11.9		11.0		0.9			9
Total core deposits		31.7		31.4		0.3			1
Other deposits		6.1		6.6		(0.6	)		(8	)
Total deposits	$	37.8	$	38.0	$	(0.2	)		(1	)%

     Average total deposits were $37.8 billion, down $0.2 billion, or 1%, from the prior quarter and reflected:

• $0.6 billion, or 8%, decrease in average non-core deposits, primarily reflecting a decline in brokered deposits.

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Partially offset by:

• $0.3 billion, or 1%, increase in average total core deposits. The primary driver of the change was growth in higher rate core certificates of deposits, partially offset by a decline in lower rate money market accounts.

2008 Third Quarter versus 2007 Third Quarter

     Fully taxable equivalent net interest income decreased $21.3 million, or 5%, from the year-ago quarter. This reflected the unfavorable impact of a 23 basis point decline in the net interest margin to 3.29%, with 8 basis points of the decline reflecting the 2007 fourth quarter restructuring of the Franklin credit. The negative impact from the decline in the net interest margin was partially offset by a $0.8 billion, or 2%, increase in average earning assets. The increase in average earning assets, reflected growth in average loans and leases, partially offset by a decline in other earnings assets. Table 4 details the $1.2 billion increase in average loans and leases.

Table 4 — Loans and Leases — 3Q08 vs. 3Q07

	Third Quarter				Change
(in billions)	2008		2007		Amount			%
Average Loans and Leases
Commercial and industrial	$	13.6	$	13.0	$	0.6			5	%
Commercial real estate		9.8		9.0		0.8			9
Total commercial		23.4		22.0		1.4			6
Automobile loans and leases		4.6		4.4		0.3			6
Home equity		7.5		7.5		(0.0	)		(0	)
Residential mortgage		4.8		5.5		(0.6	)		(12	)
Other consumer		0.7		0.5		0.1			25
Total consumer		17.6		17.8		(0.3	)		(1	)
Total loans and leases	$	41.0	$	39.8	$	1.2			3	%

     The $1.2 billion, or 3%, increase in average total loans and leases primarily reflected:

• $1.4 billion, or 6%, increase in average total commercial loans, with growth reflected in both C&I loans and CRE loans. The $0.8 billion, or 9%, increase in average CRE loans was primarily to existing borrowers with a focus on traditional income producing property types and was not related to the single family residential developer segment. The $0.6 billion, or 5%, growth in C&I loans reflected a combination of originations to existing borrowers and originations to new high credit quality customers. Given our consistent positioning in the market, we have been able to attract new relationships that historically dealt exclusively with competitors. These “house account” types of relationships are typically the highest quality borrowers and bring with them the added benefit of significant new deposit and other non-credit relationships.

Partially offset by:

• $0.3 billion, or 1%, decrease in average total consumer loans. This reflected a $0.6 billion, or 12%, decline in residential mortgages, reflecting loan sales in prior quarters. Average home equity loans were unchanged. Partially offsetting the decline was a $0.3

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billion, or 6%, growth in average automobile loans and leases. The increase was exclusively in the automobile loan segment, and we continue to feel good about the origination strategies employed that generated the growth.

     Table 5 details the $0.2 billion reported increase in average total deposits.

Table 5 — Deposits — 3Q08 vs. 3Q07

	Third Quarter				Change
(in billions)	2008		2007		Amount			%
Average Deposits
Demand deposits — non-interest bearing	$	5.1	$	5.4	$	(0.3	)		(6	)%
Demand deposits — interest bearing		4.0		3.8		0.2			5
Money market deposits		5.9		6.9		(1.0	)		(15	)
Savings and other domestic deposits		4.9		5.1		(0.2	)		(4	)
Core certificates of deposit		11.9		10.5		1.4			14
Total core deposits		31.7		31.6		0.1			0
Other deposits		6.1		6.0		0.1			1
Total deposits	$	37.8	$	37.7	$	0.2			0	%

     The $0.2 billion increase in average total deposits reflected growth in both average total core deposits, and to a lesser degree, other deposits. Changes from the year ago period reflected the continuation of customers transferring funds from lower rate to higher rate accounts like certificates of deposits as short-term rates have fallen. Specifically, average core certificates of deposit increased $1.4 billion, or 14%, whereas average money market deposits and savings and other domestic deposits decreased $1.0 billion and $0.2 billion, respectively. Average interest bearing demand deposits increased $0.2 billion, or 5%, whereas average non-interest bearing demand deposits declined $0.3 billion, or 6%, again reflecting customer preference for interest bearing accounts.

Provision for Credit Losses

     The provision for credit losses in the 2008 third quarter was $125.4 million, up $4.6 million from the second quarter, and exceeded net charge-offs by $41.6 million. The provision for credit losses in the current quarter was $83.4 million higher than in the year-ago quarter. (See Credit Quality Discussion).

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Non-Interest Income

2008 Third Quarter versus 2008 Second Quarter

     Non-interest income decreased $9.9 million, or 4%, from the second quarter.

Table 6 — Non-interest Income — 3Q08 vs. 2Q08

	Third			Second									Change attributable to:
	Quarter			Quarter			Change						Significant			Other
(in millions)	2008			2008			Amount			%			Items			Amount			%
Non-interest Income
Service charges on deposit accounts	$	80.5		$	79.6		$	0.9			1	%	$	—		$	0.9			1	%
Trust services		31.0			33.1			(2.1	)		(6	)		—			(2.1	)		(6	)
Brokerage and insurance income		34.3			35.7			(1.4	)		(4	)		—			(1.4	)		(4	)
Other service charges and fees		23.4			23.2			0.2			1			—			0.2			1
Bank owned life insurance income		13.3			14.1			(0.8	)		(6	)		—			(0.8	)		(6	)
Mortgage banking income (loss)		10.3			12.5			(2.2	)		(18	)		4.2	(1)		(6.4	)		(51	)
Securities gains (losses)		(15.2	)		2.1			(17.2	)	NM				(17.2	)(2)		—			0
Other income		48.8			36.1			12.7			35			13.5	(3)		(0.7	)		(2	)
Total non-interest income	$	226.5		$	236.4		$	(9.9	)		(4	)%	$	0.5		$	(10.4	)		(4	)%
(1) Net impact of MSR hedging
MSR valuation adjustment	$	(10.3	)	$	39.0		$	(49.3	)	NM		%
Net trading (losses) gains		3.8			(49.7	)		53.5		NM
Impact to non interest income		(6.5	)		(10.7	)		4.2			40
Net interest income impact		8.4			9.4			(1.0	)		(11	)
Net impact of MSR hedging	$	1.9		$	(1.3	)	$	3.2		NM		%
(2) Securities gains (losses)	$	(15.2	)	$	2.1		$	(17.2	)	NM		%
(3) Other income
Equity investment gains (losses)	$	3.7		$	(4.6	)	$	8.3		NM		%
Loss on loans held for sale		—			(7.2	)		7.2		NM
Gain on sale of mortgage loans		—			2.1			(2.1	)	NM
Impact to other income	$	3.7		$	(9.8	)	$	13.5		NM%

     The $9.9 million decrease in total non-interest income included a net benefit of $0.5 million from significant items (see Significant Item discussion). The remaining $10.4 million, or 4%, decline reflected:

• $6.4 million, or 51%, decline in mortgage banking income, primarily reflecting a 35% decline in origination activity.

• $2.1 million, or 6%, decline in trust services income, reflecting the impact of lower market values on asset management revenues.

• $1.4 million, or 4%, decline in brokerage and insurance income, primarily reflecting seasonally lower insurance contingency fees.

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2008 Third Quarter versus 2007 Third Quarter

     Non-interest income increased $21.8 million from the year-ago quarter.

Table 7 — Non-interest Income — 3Q08 vs. 3Q07

													Change attributable to:
	Third Quarter						Change						Significant			Other
(in millions)	2008			2007			Amount			%			Items			Amount			%
Non-interest Income
Service charges on deposit accounts	$	80.5		$	78.1		$	2.4			3	%	$	—		$	2.4			3	%
Trust services		31.0			33.6			(2.6	)		(8	)		—			(2.6	)		(8	)
Brokerage and insurance income		34.3			28.8			5.5			19			—			5.5			19
Other service charges and fees		23.4			21.0			2.4			11			—			2.4			11
Bank owned life insurance income		13.3			14.8			(1.5	)		(10	)		—			(1.5	)		(10	)
Mortgage banking income (loss)		10.3			9.6			0.7			7			(0.5	)(1)		1.1			12
Securities gains (losses)		(15.2	)		(13.2	)		(2.0	)		(15	)		(2.0	)(2)		—			0
Other income		48.8			31.8			17.0			53			8.1	(3)		8.9			28
Total non-interest income	$	226.5		$	204.7		$	21.8			11	%	$	5.6		$	16.2			8	%
(1) Net impact of MSR hedging
MSR valuation adjustment	$	(10.3	)	$	(9.9	)	$	(0.4	)		(4	)%
Net trading (losses) gains		3.8			3.9			(0.1	)		(2	)
Impact to non interest income		(6.5	)		(6.0	)		(0.5	)		(8	)
Net interest income impact		8.4			2.4			6.0		NM
Net impact of MSR hedging	$	1.9		$	(3.6	)	$	5.5			NM	%
(2) Securities gains (losses)	$	(15.2	)	$	(13.2	)	$	(2.0	)		(15	)%
(3) Equity investment gains (losses)	$	3.7		$	(4.4	)	$	8.1			NM	%

     Of the $21.8 million increase in total non-interest income, $5.6 million came from significant items (see Significant Item discussion). The remaining $16.2 million, or 8%, increase reflected:

• $8.9 million, or 28%, increase in other income, reflecting higher operating lease income, partially offset by declines in official check processing, merchant services, and derivatives income.

• $5.5 million, or 19%, increase in brokerage and insurance income, reflecting growth in annuity sales and the 2007 fourth quarter acquisition of an insurance agency.

• $2.4 million, or 3%, increase in service charges on deposit accounts, primarily reflecting strong growth in commercial service charges, partially offset by a decline in personal service charge income.

• $2.4 million, or 11%, increase in other service charges and fees, reflecting higher debit card volume.

Partially offset by:

• $2.6 million, or 8%, decline in trust services income, reflecting the impact of lower market values on asset management revenues.

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Non-interest Expense

2008 Third Quarter versus 2008 Second Quarter

     Non-interest expense decreased $38.8 million, or 10%, from the 2008 second quarter.

Table 8 — Non-interest Expense — 3Q08 vs. 2Q08

	Third			Second									Change attributable to:
	Quarter			Quarter			Change						Significant			Restructuring/			Other
(in millions)	2008			2008			Amount			%			Items			Merger Costs			Amount			% (2)
Non-interest Expense
Personnel costs	$	184.8		$	200.0		$	(15.2	)		(8	)%	$	—		$	(10.7	)	$	(4.5	)		(2	)%
Outside data processing and other services		32.4			30.2			2.2			7			—			0.9			1.3			4
Net occupancy		25.2			27.0			(1.8	)		(7	)		—			(1.8	)		0.1			0
Equipment		22.1			25.7			(3.6	)		(14	)		—			(2.8	)		(0.8	)		(4	)
Amortization of intangibles		19.5			19.3			0.1			1			—			—			0.1			1
Marketing		7.0			7.3			(0.3	)		(4	)		—			(0.0	)		(0.3	)		(4	)
Professional services		13.4			13.8			(0.3	)		(3	)		—			(0.1	)		(0.3	)		(2	)
Telecommunications		6.0			6.9			(0.9	)		(12	)		—			(0.0	)		(0.9	)		(12	)
Printing and supplies		4.3			4.8			(0.4	)		(9	)		—			(0.0	)		(0.4	)		(9	)
Other expense		24.2			42.9			(18.7	)		(43	)		(19.2	)(1)		(0.0	)		0.6			1
Total non-interest expense	$	339.0		$	377.8		$	(38.8	)		(10	)%	$	(19.2	)	$	(14.6	)	$	(5.1	)		(1	)%
(1) Debt extinguishment loss (gain)	$	(21.4	)	$	(2.2	)	$	(19.2	)	NM %
(2) Other / (prior period + merger-related)

     Of the $38.8 million decline, $14.6 million represented second quarter Sky Financial merger/restructuring costs and $19.2 million related to significant items (see Significant Item discussion). The remaining $5.1 million, or 1%, decline primarily reflected a $4.5 million, or 2%, decline in personnel costs, as full-time equivalent staff decreased by 360, or 3%.

2008 Third Quarter versus 2007 Third Quarter

     Non-interest expense decreased $46.6 million, or 12%, from the year-ago quarter.

Table 9 — Non-interest Expense — 3Q08 vs. 3Q07

													Change attributable to:
	Third Quarter						Change						Significant			Restructuring/			Other
(in millions)	2008			2007			Amount			%			Items			Merger Costs			Amount			% (2)
Non-interest Expense
Personnel costs	$	184.8		$	202.1		$	(17.3	)		(9	)%	$	—		$	(7.8	)	$	(9.6	)		(5	)%
Outside data processing and other services		32.4			40.6			(8.2	)		(20	)		—			(6.9	)		(1.4	)		(4	)
Net occupancy		25.2			33.3			(8.1	)		(24	)		—			(7.4	)		(0.7	)		(3	)
Equipment		22.1			23.3			(1.2	)		(5	)		—			(1.8	)		0.6			3
Amortization of intangibles		19.5			19.9			(0.5	)		(2	)		—			—			(0.5	)		(2	)
Marketing		7.0			13.2			(6.1	)		(47	)		—			(5.0	)		(1.2	)		(14	)
Professional services		13.4			11.3			2.1			19			—			(1.6	)		3.7			38
Telecommunications		6.0			7.3			(1.3	)		(18	)		—			(0.2	)		(1.1	)		(15	)
Printing and supplies		4.3			4.7			(0.4	)		(9	)		—			(0.5	)		0.0			1
Other expense		24.2			29.8			(5.5	)		(19	)		(18.1	)(1)		(1.3	)		13.9			49
Total non-interest expense	$	339.0		$	385.6		$	(46.6	)		(12	)%	$	(18.1	)	$	(32.3	)	$	3.8			1	%
(1) Debt extinguishment loss (gain)	$	(21.4	)	$	(3.2	)	$	(18.1	)	NM %
(2) Other / (prior period + merger-related)

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     Of the $46.6 million decline, $32.3 million represented Sky Financial merger/restructuring costs in the year-ago quarter and $18.1 million reflected significant items (see Significant Item discussion). The remaining $3.8 million, or 1%, increase reflected:

• $13.9 million, or 49%, increase in other expense, primarily reflecting an increase in operating lease expense, with the remainder of the increase spread over a number of miscellaneous expense categories including franchise and other taxes and OREO losses.

• $3.7 million, or 38%, increase in professional services expenses, reflecting increased legal and collection costs.

Partially offset by:

• $9.6 million, or 5%, decline in personnel costs reflecting the benefit of merger and restructuring efficiencies, including the impact of 1,422 person reduction, or 12%, in full-time equivalent staff from the year-ago period, as well as lower incentive compensation.

Income Taxes

     The provision for income taxes in the 2008 third quarter was $35.5 million, resulting in an effective tax rate of 23.6%. The effective tax rate includes a $3.7 million addition to provision for income taxes, representing an increase to the previously established capital loss carry-forward valuation allowance related to the current quarter’s decline in value of Visa^® shares held. The effective tax rate for the 2008 fourth quarter is expected to be in a range of 22%-24%.

Franklin Credit Management Relationship

     At September 30, 2008, total exposure to Franklin was $1.095 billion, down 3% from $1.130 billion at June 30, 2008. This relationship continued to perform and accrue interest. There were no Franklin-related net charge-offs or provision for credit losses in the current or prior quarter. At September 30, 2008, the specific allowance for loan and lease losses for Franklin was $115.3 million, unchanged from June 30, 2008. While the cash flow generated by the underlying collateral declined during the quarter due to the weakening economic environment, it continued to exceed the requirements of the 2007 fourth quarter restructuring agreement. Third quarter cash flows were also affected by lower OREO sales proceeds because of a slowdown in operational foreclosure resolution processes. The proceeds from completed sales continue to be consistent with our expectations. Franklin continued to actively restructure and modify existing delinquent loans in order to generate principal and interest payments in future periods. Franklin is also actively engaged in recovering against judgments they have filed in prior periods.

Credit Quality

     Credit quality performance in the 2008 third quarter was generally consistent with our expectations, reflecting the negative impact of the continued economic weakness across our Midwest markets. These economic factors influenced the performance of net charge-offs (NCOs) and non-accrual loans (NALs), as well as an expected commensurate significant increase in the provision for credit losses (see Provision for Credit Losses discussion) that increased the absolute and relative levels of our allowance for credit losses (ACL).

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Net Charge-Offs

     Total net charge-offs for the 2008 third quarter were $83.8 million, or an annualized 0.82% of average total loans and leases. Total net charge-offs in the 2008 second quarter were $65.2 million, or an annualized 0.64%. Third quarter net charge-offs in the year-ago quarter were $47.1 million, or an annualized 0.47%.

     Total commercial net charge-offs for the 2008 third quarter were $40.6 million, or an annualized 0.69%, up from $27.5 million, or an annualized 0.47% in the 2008 second quarter, and from $17.3 million, or an annualized 0.31%, a year ago. Of the current quarter’s total commercial net charge-offs, C&I net charge-offs were $29.6 million, or an annualized 0.87%, up from $12.4 million, or an annualized 0.36%, in the second quarter. Current quarter C&I net charge-offs reflected the impact of two relationships totaling $11 million, with the rest of the increase spread among smaller loans across the portfolio. These two relationships had been included in our previous full year net charge-off forecast. Based on our ongoing portfolio review process, we do not anticipate additional losses associated with significant individual relationships in the near future. The rest of the increase compared with the prior period is consistent with our view of the deteriorating economic situation. Current quarter CRE net charge-offs were $11.0 million, or an annualized 0.45%, down from $15.1 million, or an annualized 0.63% in the prior quarter. Current quarter CRE net charge-offs were also consistent with our expectations and reflected smaller dollar activity and the resolution of previously identified NAL’s.

     Total consumer net charge-offs in the current quarter were $43.1 million, or an annualized 0.98%. This was higher than an annualized 0.85% in the prior quarter and an annualized 0.67% in the year-ago quarter.

     Automobile loan and lease net charge-offs were $13.3 million, or an annualized 1.15% in the current quarter, up from 1.01% in the prior period and 0.73% in the year-ago period. Net charge-offs for automobile loans were an annualized 1.02% in the current quarter, up from 0.94% in the second quarter, with net-charge-offs for automobile leases also increasing to an annualized 1.84% from 1.28%. Both automobile loan and automobile lease net charge-offs continued to be negatively impacted by declines in used car prices. While there is some evidence of used car price stabilization, the overall market remained under stress as consumers pulled back on purchasing vehicles. Annualized automobile loan net charge-offs of 1.02% for the third quarter represented levels close to that anticipated. In contrast, automobile lease net charge-offs were significantly higher than expected. While both the loan and lease segments were negatively impacted by general economic weakness, reported automobile lease net charge-offs were also negatively affected by declining balances. Although we anticipate that automobile loan and lease net charge-offs will remain under pressure due to continued economic weakness in our markets, we believe that our focus on super-prime borrowers over the last several years will continue to result in better performance relative to other peer bank automobile portfolios.

     Home equity net charge-offs in the 2008 third quarter were $15.8 million, or an annualized 0.85%, down from an annualized 0.94% in the prior quarter, but up from an annualized 0.58%, in the year-ago quarter. This portfolio continued to be negatively impacted by the general economic and housing market slowdown. The impact was evident across our footprint, but performance was relatively better in our Columbus and Cincinnati markets. Given that we have no exposure to the very volatile West Coast and Florida markets, less than 10% of the portfolio was originated via the broker channel, and our conservative assessment of the borrower’s ability to repay at the time of underwriting, we continue to believe our home equity net charge-off experience will compare very favorably relative to the industry.

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     Residential mortgage net charge-offs were $6.7 million, or an annualized 0.56% of related average balances. This was up from an annualized 0.33% in the prior quarter and from 0.32% in the year-ago quarter. The residential portfolio is under the same economic and housing related pressures as the home equity portfolio, and we expect to see additional stress in our markets in future periods. However, as our origination strategy specifically excluded the more exotic mortgage structures, we believe that our performance throughout this cycle will compare favorably on a relative basis to the industry. In addition, loss mitigation strategies have been in place for over a year and are helping to successfully address risks in our ARM portfolio.

Non-accrual Loans and Non-performing Assets

     Non-accrual loans (NALs) were $585.9 million at September 30, 2008, and represented 1.42% of total loans and leases. This was higher than $535.0 million, or 1.30%, at June 30, 2008, and $249.4 million, or 0.62%, at the end of the year-ago period. The $50.9 million, or 10%, increase in NALs from the end of the prior quarter, primarily reflected a $37.1 million, or 14%, increase in CRE NALs and a $12.9 million, or 8%, increase in C&I NALs. Residential mortgage NALs increased 3%, whereas home equity NALs declined 5%.

     Non-performing assets (NPAs), which include NALs, were $1,040.3 million at September 30, 2008. This was higher than $993.1 million at June 30, 2008, and $435.0 million at the end of the year-ago period. The $47.1 million, or 5%, increase in NPAs from the end of the prior quarter reflected the $50.9 million increase in NALs, partially offset by a net decline in remaining NPAs.

     The over 90-day delinquent, but still accruing, ratio was 0.46% at September 30, 2008, up from 0.33% at June 30, 2008, and from 0.29% at the end of the year-ago quarter. The 13 basis point increase in the 90-day delinquent ratio from June 30, 2008, reflected a 21 basis point increase in the total commercial loan 90-day delinquent ratio to 0.35% from 0.14%, and a 2 basis point increase in the total consumer loan 90-day delinquent ratio to 0.61% from 0.59%.

     The significant increase in the over 90-day delinquent, but still accruing, C&I and CRE loans reflected a combination of both economic weakness, as well as our focus on serving the needs of our customer relationships. C&I 90-day delinquencies increased 11 basis points, with a 34 basis point increase in the CRE segment. The majority of the increase reflected matured loans in the process of being renewed. In many instances our position can be improved through a renewal process, but renewals take additional time to complete and thus result in elevated past due loans. We believe that the bulk of the restructurings currently under review will be resolved favorably.

     We are also very pleased with the relative stability in consumer loan 90-day past due performance, with the home equity portfolio delinquencies declining 5 basis points. The increase in the automobile loan and lease portfolio delinquencies represented normal seasonal patterns. The increase in residential mortgage delinquencies was consistent with our performance expectations for the portfolio.

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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 September 30, 2008, the ALLL was $720.7 million, up from $679.4 million at June 30, 2008, and from $454.8 million a year ago. Expressed as a percent of period-end loans and leases, the ALLL ratio at September 30, 2008, was 1.75%, up from 1.66% at June 30, 2008 and from 1.14% a year ago. The $41.3 million increase from the end of the prior quarter primarily reflected the impact of the continued economic weakness across our Midwest markets. Given the current market conditions, we believe the increase in the ALLL is prudent and appropriate. At September 30, 2008, the specific ALLL related to Franklin was $115.3 million, unchanged from June 30, 2008.

     Table 10 shows the change in the ALLL ratio and each reserve component for the 2008 third quarter and for the 2008 second quarter and 2007 third quarter.

Table 10 – Components of ALLL as Percent of Total Loans and Leases

										2Q08 change from
	3Q08			2Q08			3Q07			2Q08			3Q07
Transaction reserve (1)		1.54	%		1.45	%		0.97	%		0.09	%		0.57	%
Economic reserve		0.21			0.21			0.17			—			0.04
Total ALLL		1.75	%		1.66	%		1.14	%		0.09	%		0.61	%

(1) Includes specific reserve

     The ALLL as a percent of NALs was 123% at September 30, 2008, down from 127% at June 30, 2008, and from 182% a year ago. At September 30, 2008, the AULC was $61.6 million, up from $61.3 million at June 30, 2008, and from $58.2 million at the end of the year-ago quarter.

     On a combined basis, the ACL as a percent of total loans and leases at September 30, 2008, was 1.90%, up from 1.80% at June 30, 2008, and from 1.28% a year ago. The ACL as a percent of NALs was 134% at September 30, 2008, down from 138% at June 30, 2008, and from 206% a year ago.

Capital

     At September 30, 2008, the regulatory Tier 1 and Total risk-based capital ratios were 8.86% and 12.09%, respectively, up from 8.82% and 12.05%, respectively, at June 30, 2008. Both ratios are well above the regulatory “well capitalized” thresholds of 6.0% and 10.0%, respectively. The “well capitalized” level is the highest regulatory capital designation. The tangible equity to asset ratio at September 30, 2008, was 6.00%, a 10 basis point increase from 5.90%. This improvement moved the tangible equity to assets ratio back into our targeted range of 6.00%-6.25%.

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2008 FOURTH QUARTER 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 is that the Midwest economic environment will remain weak. We will continue to target our interest rate risk position at our customary relatively neutral position.

     The assumptions listed below form the basis for our 2008 fourth quarter earnings outlook.

• Net interest margin that is relatively flat with the 2008 third quarter’s 3.29% level.

• Modest growth in average annualized total loans from the 2008 third quarter level, with commercial loans growing in the low-single digit range and consumer loans down slightly.

• Average annualized core deposit growth in the mid-single digit range from the 2008 third quarter level.

• Non-interest income that is relatively stable with the 2008 third quarter non-interest income level adjusted for the significant items noted earlier (see Significant Items Influencing Financial Performance Comparisons discussion and Table 1).

• Non-interest expenses that are also relatively stable with the 2008 third quarter non-interest expense level adjusted for the significant items noted earlier (see Significant Items Influencing Financial Performance Comparisons discussion and Table 1).

• No other significant net market-related gains or losses.

• 5-10 basis point increase by year end in the ACL ratio from the 1.90% level at the end of the 2008 third quarter, continuing to reflect the general stress in the market. Annualized net charge-offs of 90-110 basis points, resulting in estimated 2008 full year net charge-offs in the 70-75 basis point range.

• The effective tax rate for the fourth quarter in a range of 22%-24%.

With the above assumptions, earnings for the 2008 fourth quarter are targeted for $0.25-$0.29 per common share, resulting in 2008 full year targeted earnings of $1.12-$1.16 per share.

Conference Call / Webcast Information

     Huntington’s senior management will host an earnings conference call on Thursday, October 16, 2008, at 1:00 p.m. (Eastern Daylight 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 67292430. Slides will be available at www.huntington-ir.com just prior to 1:00 p.m. (Eastern Daylight Time) on October 16, 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 October 31, 2008 at 800-642-1687; conference ID 67292430.

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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) changes in economic conditions; (3) movements in interest rates; (4) competitive pressures on product pricing and services; (5) success and timing of other business strategies; (6) the nature, extent, and timing of governmental actions and reforms; and (7) extended disruption of vital infrastructure. The Emergency Economic Stabilization Act of 2008 (EESA) passed 10/3/08 could have an undetermined material impact on company performance depending on rules of participation that have yet to be finalized. Additional factors that could cause results to differ materially from those described above can be found in Huntington’s 2007 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 this earnings release, or the 2008 third 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.

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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. 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.

     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 2007 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 total deposits of $12.9 billion. The impact of this acquisition has been included in our consolidated results since July 1, 2007. As such, the merger does not impact 2008 third quarter performance to 2008 second quarter or year-ago quarter comparisons. However, performance comparisons of 2008 nine-month performance to the comparable year-ago nine-month period are affected, as Sky Financial results were not included in the year-ago first and second quarter periods.

     In addition, as a result of this acquisition, we have a significant loan relationship with Franklin Credit Management Corporation.

     Given the significant impact of the merger on reported results, we believe that an understanding of the impacts of the merger and certain post-merger restructuring activities is necessary to understand better the underlying performance trends. When comparing post-merger period results to pre-merger periods, we use the following terms when discussing financial performance:

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

• “Merger and restructuring costs” represent non-interest expenses primarily associated with merger integration activities, including severance expense for key executive personnel.

• “Non-merger-related” refers to performance not attributable to the merger, and includes “merger efficiencies”, which represent non-interest expense reductions realized because of the merger.

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     After completion of the merger, we combined Sky Financial’s operations with ours, and as such, we could no longer separately monitor the subsequent individual results of Sky Financial. As a result, the following methodologies were implemented to estimate the approximate effect of the Sky Financial merger used to determine “merger-related” impacts. Certain tables and comments contained within our discussion and analysis provide detail of changes to reported results to quantify the estimated impact of the Sky Financial merger using this methodology.

Balance Sheet Items

     For average loans and leases, as well as average deposits, Sky Financial’s balances as of June 30, 2007, adjusted for purchase accounting adjustments, and transfers of loans to loans held-for-sale, were used in the comparison. To estimate the impact on 2008 average balances, it was assumed that the June 30, 2007 balances, as adjusted, remained constant over time.

Income Statement 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 methodology does not adjust for any market-related changes, 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. The one exception to this methodology of holding the estimated annual 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

2008 Nine Month versus 2007 Nine Months

	Nine Months Ended											Change attributable to:
	September 30,				Change					Merger		Other
(in millions)	2008		2007		Amount		%			Related		Amount			% (1)
Average Loans and Leases
Commercial and industrial	$	13,535	$	9,748	$	3,787		38.8	%	$	3,183	$	604			4.7	%
Commercial real estate		9,568		6,051		3,517		58.1			2,647		870			10.0
Total commercial		23,103		15,799		7,304		46.2			5,830		1,474			6.8
Automobile loans and leases		4,525		4,048		477		11.8			288		189			4.4
Home equity		7,364		5,794		1,570		27.1			1,590		(20	)		(0.3	)
Residential mortgage		5,113		4,771		342		7.2			741		(399	)		(7.2	)
Other consumer		695		461		234		50.8			95		139			25.0
Total consumer		17,697		15,074		2,623		17.4			2,714		(91	)		(0.5	)
Total loans and leases	$	40,800	$	30,873	$	9,927		32.2	%	$	8,544	$	1,383			3.5	%

⁽¹⁾ Other / (prior period + merger-related)

	Nine Months Ended											Change attributable to:
	September 30,				Change					Merger		Other
(in millions)	2008		2007		Amount		%			Related		Amount			% (1)
Average Deposits
Demand deposits - non-interest bearing	$	5,058	$	4,175	$	883		21.1	%	$	1,219	$	(336	)		(6.2	)%
Demand deposits - interest bearing		4,008		2,859		1,149		40.2			973		176			4.6
Money market deposits		6,292		5,946		346		5.8			664		(318	)		(4.8	)
Savings and other domestic deposits		4,987		3,660		1,327		36.3			1,729		(402	)		(7.5	)
Core certificates of deposit		11,210		7,183		4,027		56.1			3,087		940			9.2
Total core deposits		31,555		23,823		7,732		32.5			7,672		60			0.2
Other deposits		6,366		5,017		1,349		26.9			895		454			7.7
Total deposits	$	37,921	$	28,840	$	9,081		31.5	%	$	8,567	$	514			1.4	%

⁽¹⁾ Other / (prior period + merger-related)

- 18 -

	Nine Months Ended														Change attributable to:
	September 30,						Change						Merger		Significant			Other
(in thousands)	2008			2007			Amount			%			Related		Items			Amount			% (4)
Net interest income — FTE	$	1,171,903		$	932,465		$	239,438			25.7	%	$	303,184	$	21,061	(1)	$	(84,807	)		(6.9	)%
Non-interest Income
Service charges on deposit accounts	$	232,806		$	172,917		$	59,889			34.6	%	$	48,220	$	—		$	11,669			5.3	%
Trust services		98,169			86,220			11,949			13.9			14,018		—			(2,069	)		(2.1	)
Brokerage and insurance income		106,563			62,087			44,476			71.6			34,122		—			10,354			10.8
Other service charges and fees		67,429			49,176			18,253			37.1			11,600		—			6,653			10.9
Bank owned life insurance income		41,199			36,602			4,597			12.6			3,614		—			983			2.4
Mortgage banking income (loss)		15,741			26,102			(10,361	)		(39.7	)		12,512		(28,853	)(1)		5,980			15.5
Securities gains (losses)		(11,655	)		(18,187	)		6,532			35.9			566		6,532	(2)		(566	)		3.2
Other income		148,420			91,127			57,293			62.9			12,780		21,098	(3)		23,415			22.5
Total non-interest income	$	698,672		$	506,044		$	192,628			38.1	%	$	137,432	$	(1,223	)	$	56,419			8.8	%
(1) Net impact of MSR hedging
MSR valuation adjustment	$	10,687		$	5,114		$	5,573		NM		%
Net trading (losses) gains		(52,558	)		(18,132	)		(34,426	)	NM
Impact to non interest income		(41,871	)		(13,018	)		(28,853	)	NM
Net interest income impact		23,666			2,605			21,061		NM
Net impact of MSR hedging	$	(18,205	)	$	(10,413	)	$	(7,792	)		(74.8	)%
(2) Securities gains (losses)	$	(11,655	)	$	(18,187	)	$	6,532			35.9	%
(3) Other income
Equity investment gains (losses)	$	(3,574	)	$	(10,616	)	$	7,042			66.3	%
Loss on loans held for sale		(7,200	)		—			(7,200	)	NM
Gain on sale of mortgage loans		2,069			—			2,069		NM
Gain on sale of Visa/Master Card stock		25,087			—			25,087		NM
Asset impairment		(5,900	)		—			(5,900	)	NM
Impact to other income	$	10,482		$	(10,616	)	$	21,098		NM		%

⁽⁴⁾ Other / (prior period + merger-related)

	Nine Months Ended														Change attributable to:
	September 30,						Change						Merger		Significant			Restructuring/			Other
(in thousands)	2008			2007			Amount			%			Related		Items			Merger Costs			Amount			% (3)
Non-interest Expense
Personnel costs	$	586,761		$	471,978		$	114,783			24.3	%	$	136,500	$	—		$	5,147		$	(26,864	)		(4.4	)%
Outside data processing and other services		96,933			88,115			8,818			10.0			24,524		—			(9,012	)		(6,694	)		(6.5	)
Net occupancy		85,429			72,659			12,770			17.6			20,368		5,100	(1)		(5,283	)		(7,415	)		(8.5	)
Equipment		71,636			58,666			12,970			22.1			9,598		—			1,117			2,255			3.3
Amortization of intangibles		57,707			24,988			32,719		NM				32,962		—			—			(243	)		(0.4	)
Marketing		23,307			29,868			(6,561	)		(22.0	)		8,722		—			(6,495	)		(8,788	)		(27.4	)
Professional services		36,247			25,856			10,391			40.2			5,414		—			(2,952	)		7,929			28.0
Telecommunications		19,116			15,989			3,127			19.6			4,448		—			404			(1,725	)		(8.3	)
Printing and supplies		14,695			11,657			3,038			26.1			2,748		—			(390	)		680			4.9
Other expense		95,449			72,514			22,935			31.6			26,096		(30,533)	(2)		(1,374	)		28,746			29.6
Total non-interest expense	$	1,087,280		$	872,290		$	214,990			24.6	%	$	271,380	$	(25,433	)	$	(18,838	)	$	(12,119	)		(1.1	)%
(1) Asset impairment	$	5,100		$	—		$	5,100		NM		%
(2) Other expense
Visa anti-trust indemnification	$	(12,435	)	$	—		$	(12,435	)	NM		%
Debt extinguishment loss (gain)		(23,541	)		(7,310	)		(16,231	)	NM
Litigation reserves		—			1,867			(1,867	)	NM
Impact to other expense	$	(35,976	)	$	(5,443	)	$	(30,533	)	NM		%

⁽³⁾ Other / (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 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.

- 19 -

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 typically “not meaningful” for trend analysis purposes.

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: Auto Finance and Dealer Services offices in Arizona, Florida, Nevada, New Jersey, New York, Tennessee, and Texas; Private Financial and Capital Markets Group offices in Florida; and Mortgage Banking offices in Maryland and New Jersey. Huntington 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)

	2008						2007			Percent Changes vs.
(in thousands, except per share amounts)	Third			Second			Third			2Q08			3Q07
Net interest income	$	388,636		$	389,866		$	409,633			(0.3)	%		(5.1)	%
Provision for credit losses		125,392			120,813			42,007			3.8			N.M.
Non-interest income		226,490			236,430			204,674			(4.2	)		10.7
Non-interest expense		338,996			377,803			385,563			(10.3	)		(12.1	)
Income before income taxes		150,738			127,680			186,737			18.1			(19.3	)
Provision for income taxes		35,535			26,328			48,535			35.0			(26.8	)
Net Income	$	115,203		$	101,352		$	138,202			13.7	%		(16.6)	%
Dividends declared on preferred shares		12,091			11,151			—			8.4			—
Net income applicable to common shares	$	103,112		$	90,201		$	138,202			14.3	%		(25.4)	%
Net income per common share — diluted	$	0.28		$	0.25		$	0.38			12.0	%		(26.3)	%
Cash dividends declared per common share		0.1325			0.1325			0.2650			—			(50.0	)
Book value per common share at end of period		15.88			15.87			17.08			0.1			(7.0	)
Tangible book value per common share at end of period		6.87			6.82			8.10			0.7			(15.2	)
Average common shares — basic		366,124			366,206			365,895			—			0.1
Average common shares — diluted (2)		414,968			367,234			368,280			13.0			12.7
Return on average assets		0.84	%		0.73	%		1.02	%
Return on average shareholders’ equity		7.2			6.4			8.8
Return on average tangible shareholders’ equity (3)		16.9			15.0			19.7
Net interest margin (4)		3.29			3.29			3.52
Efficiency ratio (5)		50.3			56.9			57.7
Effective tax rate		23.6			20.6			26.0
Average loans and leases	$	41,004,234		$	41,025,088		$	39,827,422			(0.1	)		3.0
Average loans and leases — linked quarter annualized growth rate		(0.2)	%		6.5	%		N.M.	%
Average earning assets	$	47,644,331		$	48,279,217		$	46,870,957			(1.3	)		1.7
Average total assets		54,663,867			55,539,295			53,970,093			(1.6	)		1.3
Average core deposits (6)		31,738,625			31,410,981			31,639,919			1.0			0.3
Average core deposits — linked quarter annualized growth rate (6)		4.2	%		(1.3)	%		N.M.	%
Average shareholders’ equity	$	6,324,362		$	6,355,388		$	6,205,783			(0.5	)		1.9
Total assets at end of period		54,671,350			55,333,841			55,303,927			(1.2	)		(1.1	)
Total shareholders’ equity at end of period		6,383,101			6,381,265			6,249,674			—			2.1
Net charge-offs (NCOs)		83,751			65,247			47,106			28.4			77.8
NCOs as a % of average loans and leases		0.82	%		0.64	%		0.47	%
Nonaccrual loans and leases (NALs)	$	585,941		$	535,042		$	249,396			9.5			N.M.
NAL ratio (7)		1.42	%		1.30			0.62
Allowance for loan and lease losses (ALLL) as a % of total loans and leases at the end of period		1.75			1.66			1.14
ALLL plus allowance for unfunded loan commitments and letters of credit as a % of total loans and leases at the end of period		1.90			1.80			1.28
ALLL as a % of NALs		123			127			182
Tier 1 risk-based capital ratio (8)		8.86			8.82			8.35
Total risk-based capital ratio (8)		12.09			12.05			11.58
Tier 1 leverage ratio (8)		8.05			7.88			7.57
Average equity / assets		11.57			11.44			11.50
Tangible equity / assets (9)		6.00			5.90			5.70
Tangible common equity / assets		4.89			4.80			5.70

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)	For the three months ended September 30, 2008, the impact of the convertible preferred stock issued in April of 2008 was included in the diluted share calculation. It was included because the result was less than basic earnings per common share (dilutive) for the period. For the three months ended June 30, 2008, the impact of the convertible preferred stock issued in April of 2008 was excluded from the diluted share calculation. It was excluded because the result would have been higher than basic earnings per common share (anti-dilutive) for the period.
(3)	Net income excluding expense for amortization of intangibles for the period divided by average tangible shareholders’ equity. Average tangible shareholders’ equity equals average total stockholders’ equity less average intangible assets and goodwill. Expense for amortization of intangibles and average intangible assets are net of deferred tax liability, and calculated assuming a 35% tax rate.
(4)	On a fully taxable equivalent (FTE) basis assuming a 35% tax rate.
(5)	Non-interest expense less amortization of intangibles ($19.5 million in 3Q 2008, $19.3 million in 2Q 2008, and $19.9 million in 3Q 2007) divided by the sum of FTE net interest income and non-interest income excluding securities gains (losses).
(6)	Includes non-interest bearing and interest bearing demand deposits, money market deposits, savings and other domestic time deposits, and core certificates of deposit.
(7)	Nonaccruing loans and leases (NALs) divided by total loans and leases.
(8)	September 30, 2008 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.
(9)	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
Year to Date Key Statistics ⁽¹⁾

(Unaudited)

	Nine Months Ended September 30,						Change
(in thousands, except per share amounts)	2008			2007			Amount			Percent
Net interest income	$	1,155,326		$	918,579		$	236,747			25.8	%
Provision for credit losses		334,855			131,546			203,309			N.M.
Non-interest income		698,672			506,044			192,628			38.1
Non-interest expense		1,087,280			872,290			214,990			24.6
Income before income taxes		431,863			420,787			11,076			2.6
Provision for income taxes		88,240			106,338			(18,098	)		(17.0	)
Net Income	$	343,623		$	314,449		$	29,174			9.3	%
Dividends declared on preferred shares		23,242			—			23,242			—
Net income applicable to common shares	$	320,381		$	314,449			5,932			1.9
Net income per common share — diluted	$	0.87		$	1.12		$	(0.25	)		(22.3)	%
Cash dividends declared per common share		0.530			0.795			(0.265	)		(33.3	)
Average common shares — basic		366,188			279,171			87,017			31.2
Average common shares — diluted (2)		396,457			282,014			114,443			40.6
Return on average assets		0.83	%		1.02	%
Return on average shareholders’ equity		7.4			10.3
Return on average tangible shareholders’ equity (3)		17.7			16.8
Net interest margin (4)		3.27			3.40
Efficiency ratio (5)		54.7			58.2
Effective tax rate		20.4			25.3
Average loans and leases	$	40,799,635		$	30,873,499		$	9,926,136			32.2
Average earning assets		47,859,232			36,635,212			11,224,020			30.6
Average total assets		55,028,124			41,419,779			13,608,345			32.9
Average core deposits (6)		31,555,426			23,823,200			7,732,226			32.5
Average shareholders’ equity		6,185,311			4,099,696			2,085,615			50.9
Net charge-offs (NCOs)		197,447			99,724			97,723			98.0
NCOs as a % of average loans and leases		0.65	%		0.43	%

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)	For the nine months ended September 30, 2008, the impact of the convertible preferred stock issued in April of 2008 was included in the diluted share calculation. It was included because the result was less than basic earnings per share (dilutive) on a year-to-date basis.
(3)	Net income less expense excluding amortization of intangibles for the period divided by average tangible shareholders’ equity. Average tangible shareholders’ equity equals average total shareholders’ equity less average intangible assets and goodwill. Expense for amortization of intangibles and average intangible assets are net of deferred tax liability, and calculated assuming a 35% tax rate.
(4)	On a fully taxable equivalent (FTE) basis assuming a 35% tax rate.
(5)	Non-interest expense less amortization of intangibles ($57.7 million for 2008 and $25.0 million for 2007) divided by the sum of FTE net interest income and non-interest income excluding securities gains (losses).
(6)	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
September 2008

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 Common Stock Summary, Capital, and Other Data	12
Consolidated Year to Date Average Balance Sheets	13
Consolidated Year to Date Net Interest Margin Analysis	14
Selected Year to Date Income Statement Data	15
Year to Date Mortgage Banking Income	16
Year to Date Credit Reserves Analysis	17
Year to Date Net Charge-Off Analysis	18
Year to Date 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

	2008			2007						September ‘08 vs ‘07
(in thousands, except number of shares)	September 30,			December 31,			September 30,			Amount			Percent
	(Unaudited)						(Unaudited)
Assets
Cash and due from banks	$	901,239		$	1,416,997		$	1,202,381		$	(301,142	)		(25.0)	%
Federal funds sold and securities purchased under resale agreements		269,519			592,649			431,244			(161,725	)		(37.5	)
Interest bearing deposits in banks		298,297			340,090			288,841			9,456			3.3
Trading account securities		998,249			1,032,745			1,034,240			(35,991	)		(3.5	)
Loans held for sale		286,751			494,379			479,853			(193,102	)		(40.2	)
Investment securities		4,575,825			4,500,171			4,288,974			286,851			6.7
Loans and leases (1)		41,191,723			40,054,338			39,987,240			1,204,483			3.0
Allowance for loan and lease losses		(720,738	)		(578,442	)		(454,784	)		(265,954	)		58.5
Net loans and leases		40,470,985			39,475,896			39,532,456			938,529			2.4
Bank owned life insurance		1,353,400			1,313,281			1,302,363			51,037			3.9
Premises and equipment		527,798			557,565			547,380			(19,582	)		(3.6	)
Goodwill		3,056,386			3,059,333			2,995,961			60,425			2.0
Other intangible assets		375,914			427,970			443,446			(67,532	)		(15.2	)
Accrued income and other assets		1,556,987			1,486,392			2,756,787			(1,199,800	)		(43.5	)
Total Assets	$	54,671,350		$	54,697,468		$	55,303,927		$	(632,577	)		(1.1)	%
Liabilities and Shareholders’ Equity Liabilities
Deposits (2)	$	37,569,056		$	37,742,921		$	38,404,365		$	(835,309	)		(2.2)	%
Short-term borrowings		1,974,368			2,843,638			2,227,116			(252,748	)		(11.3	)
Federal Home Loan Bank advances		3,483,001			3,083,555			2,716,265			766,736			28.2
Other long-term debt		2,497,002			1,937,078			1,974,387			522,615			26.5
Subordinated notes		1,864,728			1,934,276			1,919,625			(54,897	)		(2.9	)
Accrued expenses and other liabilities		900,094			1,206,860			1,812,495			(912,401	)		(50.3	)
Total Liabilities		48,288,249			48,748,328			49,054,253			(766,004	)		(1.6	)
Shareholders’ equity
Preferred stock — authorized 6,617,808 shares- 8.50% Series A Non-cumulative Perpetual Convertible Preferred Stock, 569,000 shares issued and outstanding		569,000			—			—			569,000			—
Common stock -
Par value of $0.01 and authorized 1,000,000,000 shares; issued 366,970,661; 367,000,815, and 366,636,953 shares, respectively; outstanding 366,068,762; 366,261,676, and 365,898,439 shares respectively		3,670			3,670			3,665			5			0.1
Capital surplus		5,228,381			5,237,783			5,226,556			1,825			0.0
Less 901,899; 739,139 and 738,514 treasury shares at cost, respectively		(15,501	)		(14,391	)		(14,447	)		(1,054	)		7.3
Accumulated other comprehensive loss		(297,623	)		(49,611	)		(74,101	)		(223,522	)		N.M.
Retained earnings		895,174			771,689			1,108,001			(212,827	)		(19.2	)
Total Shareholders’ Equity		6,383,101			5,949,140			6,249,674			133,427			2.1
Total Liabilities and Shareholders’ Equity	$	54,671,350		$	54,697,468		$	55,303,927		$	(632,577	)		(1.1)	%

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
	2008				2007								September ‘08 vs ‘07
(in thousands)	September 30,				December 31,				September 30,				Amount			Percent
	(Unaudited)								(Unaudited)
By Type
Commercial:
Commercial and industrial	$	13,638,066	33.1	%	$	13,125,565	32.8	%	$	13,125,158	32.8	%	$	512,908			3.9	%
Commercial real estate:
Construction		2,111,027	5.1			1,961,839	4.9			1,876,075	4.7			234,952			12.5
Commercial		7,796,133	18.9			7,221,213	18.0			7,097,465	17.7			698,668			9.8
Commercial real estate		9,907,160	24.0			9,183,052	22.9			8,973,540	22.4			933,620			10.4
Total commercial		23,545,226	57.1			22,308,617	55.7			22,098,698	55.2			1,446,528			6.5
Consumer:
Automobile loans		3,917,576	9.5			3,114,029	7.8			2,959,913	7.4			957,663			32.4
Automobile leases		698,450	1.7			1,179,505	2.9			1,365,805	3.4			(667,355	)		(48.9	)
Home equity		7,496,875	18.2			7,290,063	18.2			7,317,545	18.3			179,330			2.5
Residential mortgage		4,854,260	11.8			5,447,126	13.6			5,505,340	13.8			(651,080	)		(11.8	)
Other loans		679,336	1.7			714,998	1.8			739,939	1.9			(60,603	)		(8.2	)
Total consumer		17,646,497	42.9			17,745,721	44.3			17,888,542	44.8			(242,045	)		(1.4	)
Total loans and leases	$	41,191,723	100.0		$	40,054,338	100.0		$	39,987,240	100.0		$	1,204,483			3.0
By Business Segment
Regional Banking:
Central Ohio	$	5,223,789	12.7	%	$	5,149,503	12.9	%	$	5,010,489	12.5	%	$	213,300			4.3	%
Northwest Ohio		2,179,160	5.3			2,280,648	5.7			2,314,424	5.8			(135,264	)		(5.8	)
Greater Cleveland		3,301,249	8.0			3,104,336	7.8			3,063,600	7.7			237,649			7.8
Greater Akron/Canton		2,598,991	6.3			2,477,467	6.2			2,530,292	6.3			68,699			2.7
Southern Ohio/Kentucky		3,021,163	7.3			2,668,073	6.7			2,555,900	6.4			465,263			18.2
Mahoning Valley		1,240,950	3.0			1,274,608	3.2			1,300,711	3.3			(59,761	)		(4.6	)
West Michigan		2,624,581	6.4			2,478,683	6.2			2,521,990	6.3			102,591			4.1
East Michigan		1,818,433	4.4			1,747,914	4.4			1,752,106	4.4			66,327			3.8
Pittsburgh		2,003,051	4.9			1,859,401	4.6			1,818,292	4.5			184,759			10.2
Central Indiana		1,585,247	3.8			1,421,401	3.5			1,420,084	3.6			165,163			11.6
West Virginia		1,221,503	3.0			1,155,719	2.9			1,125,628	2.8			95,875			8.5
Other Regional		5,866,427	14.3			6,287,871	15.6			6,645,158	16.6			(778,731	)		(11.7	)
Regional Banking		32,684,544	79.3			31,905,624	79.7			32,058,674	80.2			625,870			2.0
Auto Finance and Dealer Services		5,900,223	14.3			5,563,415	13.9			5,449,580	13.6			450,643			8.3
Private Financial and Capital Markets Group		2,606,956	6.4			2,585,299	6.4			2,478,986	6.2			127,970			5.2
Treasury / Other		—	—			—	—			—	—			—			—
Total loans and leases	$	41,191,723	100.0	%	$	40,054,338	100.0	%	$	39,987,240	100.0	%	$	1,204,483			3.0	%

2

Huntington Bancshares Incorporated
Deposit Composition

													Change
	2008				2007								September ‘08 vs ‘07
(in thousands)	September 30,				December 31,				September 30,				Amount			Percent
	(Unaudited)								(Unaudited)
By Type
Demand deposits — non-interest bearing	$	5,135,164	13.7	%	$	5,371,747	14.2	%	$	4,984,663	13.0	%	$	150,501			3.0	%
Demand deposits — interest bearing		4,052,032	10.8			4,048,873	10.7			3,982,102	10.4			69,930			1.8
Money market deposits		5,565,439	14.8			6,643,242	17.6			6,721,963	17.5			(1,156,524	)		(17.2	)
Savings and other domestic deposits		4,816,038	12.8			5,163,287	13.7			5,286,236	13.8			(470,198	)		(8.9	)
Core certificates of deposit		12,156,660	32.4			10,736,146	28.4			10,611,821	27.6			1,544,839			14.6
Total core deposits		31,725,333	84.5			31,963,295	84.6			31,586,785	82.3			138,548			0.4
Other domestic deposits of $100,000 or more		1,948,899	5.2			1,676,058	4.4			1,505,657	3.9			443,242			29.4
Brokered deposits and negotiable CDs		2,925,440	7.8			3,376,854	8.9			3,701,726	9.6			(776,286	)		(21.0	)
Deposits in foreign offices		969,384	2.5			726,714	2.1			1,610,197	4.2			(640,813	)		(39.8	)
Total deposits	$	37,569,056	100.0	%	$	37,742,921	100.0	%	$	38,404,365	100.0	%	$	(835,309	)		(2.2	)%
Total core deposits:
Commercial	$	8,007,619	25.2	%	$	9,017,852	28.2	%	$	9,017,474	28.5	%	$	(1,009,855	)		(11.2	)%
Personal		23,717,714	74.8			22,945,443	71.8			22,569,311	71.5			1,148,403			5.1
Total core deposits	$	31,725,333	100.0	%	$	31,963,295	100.0	%	$	31,586,785	100.0	%	$	138,548			0.4	%
By Business Segment
Regional Banking:
Central Ohio	$	6,136,030	16.3	%	$	6,319,899	16.7	%	$	5,922,566	15.4	%	$	213,464			3.6	%
Northwest Ohio		2,690,720	7.2			2,836,309	7.5			2,839,877	7.4			(149,157	)		(5.3	)
Greater Cleveland		3,248,385	8.6			3,201,791	8.5			3,074,412	8.0			173,973			5.7
Greater Akron/Canton		3,270,480	8.7			3,188,682	8.4			3,249,922	8.5			20,558			0.6
Southern Ohio/Kentucky		2,643,955	7.0			2,628,879	7.0			2,625,958	6.8			17,997			0.7
Mahoning Valley		2,263,719	6.0			2,333,794	6.2			2,324,259	6.1			(60,540	)		(2.6	)
West Michigan		3,021,528	8.0			2,918,709	7.7			2,965,334	7.7			56,194			1.9
East Michigan		2,663,131	7.1			2,444,269	6.5			2,422,248	6.3			240,883			9.9
Pittsburgh		2,749,254	7.3			2,536,007	6.7			2,555,209	6.7			194,045			7.6
Central Indiana		1,902,232	5.1			1,894,940	5.0			1,909,499	5.0			(7,267	)		(0.4	)
West Virginia		1,723,002	4.6			1,589,520	4.2			1,559,909	4.1			163,093			10.5
Other Regional		711,649	1.9			788,703	2.1			632,177	1.6			79,472			12.6
Regional Banking		33,024,085	87.9			32,681,502	86.6			32,081,370	83.5			942,715			2.9
Auto Finance and Dealer Services		67,040	0.2			58,196	0.2			63,399	0.2			3,641			5.7
Private Financial and Capital Markets Group		1,552,591	4.1			1,626,043	4.3			1,630,675	4.2			(78,084	)		(4.8	)
Treasury / Other (1)		2,925,340	7.8			3,377,180	8.9			4,628,921	12.1			(1,703,581	)		(36.8	)
Total deposits	$	37,569,056	100.0	%	$	37,742,921	100.0	%	$	38,404,365	100.0	%	$	(835,309	)		(2.2	)%

⁽¹⁾ Comprised largely of national market deposits.

3

Huntington Bancshares Incorporated
Consolidated Quarterly Average Balance Sheets

(Unaudited)

	Average Balances															Change
Fully taxable equivalent basis	2008									2007						3Q08 vs 3Q07
(in millions)	Third			Second			First			Fourth			Third			Amount			Percent
Assets
Interest bearing deposits in banks	$	321		$	256		$	293		$	324		$	292		$	29			9.9	%
Trading account securities		992			1,243			1,186			1,122			1,149			(157	)		(13.7	)
Federal funds sold and securities purchased under resale agreements		363			566			769			730			557			(194	)		(34.8	)
Loans held for sale		274			501			565			493			419			(145	)		(34.6	)
Investment securities:
Taxable		3,978			3,971			3,774			3,807			3,951			27			0.7
Tax-exempt		712			717			703			689			675			37			5.5
Total investment securities		4,690			4,688			4,477			4,496			4,626			64			1.4
Loans and leases: (1)
Commercial:
Commercial and industrial		13,629			13,631			13,343			13,270			13,036			593			4.55
Commercial real estate:
Construction		2,090			2,038			2,014			1,892			1,815			275			15.2
Commercial		7,726			7,563			7,273			7,161			7,165			561			7.8
Commercial real estate		9,816			9,601			9,287			9,053			8,980			836			9.3
Total commercial		23,445			23,232			22,630			22,323			22,016			1,429			6.5
Consumer:
Automobile loans		3,856			3,636			3,309			3,052			2,931			925			31.6
Automobile leases		768			915			1,090			1,272			1,423			(655	)		(46.0	)
Automobile loans and leases		4,624			4,551			4,399			4,324			4,354			270			6.2
Home equity		7,453			7,365			7,274			7,297			7,468			(15	)		(0.2	)
Residential mortgage		4,812			5,178			5,351			5,437			5,456			(644	)		(11.8	)
Other loans		670			699			713			728			534			136			25.5
Total consumer		17,559			17,793			17,737			17,786			17,812			(253	)		(1.4	)
Total loans and leases		41,004			41,025			40,367			40,109			39,828			1,176			3.0
Allowance for loan and lease losses		(731	)		(654	)		(630	)		(474	)		(475	)		(256	)		(53.9	)
Net loans and leases		40,273			40,371			39,737			39,635			39,353			920			2.3
Total earning assets		47,644			48,279			47,657			47,274			46,871			773			1.7
Cash and due from banks		925			943			1,036			1,098			1,111			(186	)		(16.7	)
Intangible assets		3,441			3,449			3,472			3,440			3,337			104			3.1
All other assets		3,385			3,522			3,350			3,142			3,124			261			8.4
Total Assets	$	54,664		$	55,539		$	54,885		$	54,480		$	53,968		$	696			1.3	%
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — non-interest bearing	$	5,080		$	5,061		$	5,034		$	5,218		$	5,384		$	(304	)		(5.6	)%
Demand deposits — interest bearing		4,005			4,086			3,934			3,929			3,808			197			5.2
Money market deposits		5,860			6,267			6,753			6,845			6,869			(1,009	)		(14.7	)
Savings and other domestic deposits		4,911			5,047			5,004			5,012			5,127			(216	)		(4.2	)
Core certificates of deposit		11,883			10,950			10,790			10,666			10,451			1,432			13.7
Total core deposits		31,739			31,411			31,515			31,670			31,639			100			0.3
Other domestic deposits of $100,000 or more		1,991			2,145			1,989			1,739			1,584			407			25.7
Brokered deposits and negotiable CDs		3,025			3,361			3,542			3,518			3,728			(703	)		(18.9	)
Deposits in foreign offices		1,048			1,110			885			748			701			347			49.5
Total deposits		37,803			38,027			37,931			37,675			37,652			151			0.4
Short-term borrowings		2,131			2,854			2,772			2,489			2,542			(411	)		(16.2	)
Federal Home Loan Bank advances		3,139			3,412			3,389			3,070			2,553			586			23.0
Subordinated notes and other long-term debt		4,382			3,928			3,814			3,875			3,912			470			12.0
Total interest bearing liabilities		42,375			43,160			42,872			41,891			41,275			1,100			2.7
All other liabilities		885			963			1,104			1,160			1,103			(218	)		(19.8	)
Shareholders’ equity		6,324			6,355			5,875			6,211			6,206			118			1.9
Total Liabilities and Shareholders’ Equity	$	54,664		$	55,539		$	54,885		$	54,480		$	53,968		$	696			1.3	%

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

4

Huntington Bancshares Incorporated
Consolidated Quarterly Net Interest Margin Analysis

(Unaudited)

	Average Rates (2)
	2008									2007
Fully taxable equivalent basis (1)	Third			Second			First			Fourth			Third
Assets
Interest bearing deposits in banks		2.17	%		2.77	%		3.97	%		4.30	%		4.69	%
Trading account securities		5.45			5.13			5.27			5.72			6.01
Federal funds sold and securities purchased under resale agreements		2.02			2.08			3.07			4.59			5.26
Loans held for sale		6.54			5.98			5.41			5.86			5.13
Investment securities:
Taxable		5.53			5.50			5.71			5.98			6.09
Tax-exempt		6.80			6.77			6.75			6.74			6.78
Total investment securities		5.73			5.69			5.88			6.10			6.19
Loans and leases: (3)
Commercial:
Commercial and industrial		5.46			5.53			6.32			6.92			7.70
Commercial real estate:
Construction		4.69			4.81			5.86			7.24			7.70
Commercial		5.33			5.47			6.27			7.09			7.63
Commercial real estate		5.19			5.32			6.18			7.12			7.65
Total commercial		5.35			5.45			6.27			7.00			7.68
Consumer:
Automobile loans		7.11			7.12			7.25			7.31			7.25
Automobile leases		5.70			5.59			5.53			5.52			5.56
Automobile loans and leases		6.88			6.81			6.82			6.78			6.70
Home equity		6.19			6.43			7.21			7.81			7.94
Residential mortgage		5.83			5.78			5.86			5.88			6.06
Other loans		9.69			9.98			10.43			10.91			11.48
Total consumer		6.41			6.48			6.84			7.10			7.17
Total loans and leases		5.80			5.89			6.51			7.05			7.45
Total earning assets		5.76	%		5.85	%		6.40	%		6.88	%		7.25	%
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — non-interest bearing		—	%		—	%		—	%		—	%		—	%
Demand deposits — interest bearing		0.51			0.55			0.82			1.14			1.53
Money market deposits		1.66			1.76			2.83			3.67			3.78
Savings and other domestic deposits		1.73			1.83			2.27			2.54			2.54
Core certificates of deposit		4.04			4.37			4.68			4.83			4.98
Total core deposits		2.56			2.67			3.18			3.55			3.69
Other domestic deposits of $100,000 or more		3.46			3.77			4.38			5.00			4.89
Brokered deposits and negotiable CDs		3.36			3.38			4.43			5.24			5.42
Deposits in foreign offices		1.49			1.66			2.16			3.27			3.29
Total deposits		2.66			2.78			3.36			3.80			3.94
Short-term borrowings		1.42			1.66			2.78			3.74			4.10
Federal Home Loan Bank advances		2.92			3.01			3.94			5.03			5.31
Subordinated notes and other long-term debt		4.29			4.21			5.12			5.93			6.15
Total interest bearing liabilities		2.78	%		2.85	%		3.53	%		4.09	%		4.24	%
Net interest rate spread		2.98	%		3.00	%		2.87	%		2.79	%		3.01	%
Impact of non-interest bearing funds on margin		0.31			0.29			0.36			0.47			0.51
Net interest margin		3.29	%		3.29	%		3.23	%		3.26	%		3.52	%

(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
	2008						2007				3Q08 vs 3Q07
(in millions)	Third		Second		First		Fourth		Third		Amount			Percent
Loans and direct financing leases (1)
Regional Banking:
Central Ohio	$	5,202	$	5,199	$	5,099	$	5,040	$	4,919	$	283			5.8	%
Northwest Ohio		2,209		2,251		2,295		2,301		2,328		(119	)		(5.1	)
Greater Cleveland		3,274		3,241		3,148		3,085		2,998		276			9.2
Greater Akron/Canton		2,592		2,586		2,516		2,488		2,220		372			16.8
Southern Ohio/Kentucky		2,999		2,925		2,782		2,584		2,536		463			18.3
Mahoning Valley		1,224		1,268		1,266		1,279		1,170		54			4.6
West Michigan		2,633		2,572		2,508		2,472		2,485		148			6.0
East Michigan		1,819		1,792		1,734		1,761		1,749		70			4.0
Pittsburgh		1,983		1,932		1,902		1,856		1,699		284			16.7
Central Indiana		1,545		1,527		1,463		1,397		1,406		139			9.9
West Virginia		1,198		1,199		1,160		1,135		1,163		35			3.0
Other Regional		5,798		6,062		6,221		6,672		7,280		(1,482	)		(20.4	)
Regional Banking		32,476		32,554		32,094		32,070		31,953		523			1.6
Auto Finance and Dealer Services		5,928		5,877		5,720		5,515		5,376		552			10.3
Private Financial and Capital Markets Group		2,600		2,594		2,553		2,524		2,499		101			4.0
Treasury / Other		—		—		—		—		—		—			—
Total loans and direct financing leases	$	41,004	$	41,025	$	40,367	$	40,109	$	39,828	$	1,176			3.0	%
Deposit composition (1)
Regional Banking:
Central Ohio	$	6,331	$	6,596	$	6,359	$	6,158	$	6,014	$	317			5.3	%
Northwest Ohio		2,755		2,765		2,828		2,823		2,855		(100	)		(3.5	)
Greater Cleveland		3,272		3,317		3,189		3,097		2,972		300			10.1
Greater Akron/Canton		3,239		3,211		3,231		3,236		3,152		87			2.8
Southern Ohio/Kentucky		2,638		2,596		2,655		2,644		2,563		75			2.9
Mahoning Valley		2,281		2,277		2,312		2,331		2,368		(87	)		(3.7	)
West Michigan		2,981		2,906		2,904		2,923		2,866		115			4.0
East Michigan		2,612		2,458		2,420		2,406		2,424		188			7.8
Pittsburgh		2,609		2,562		2,545		2,553		2,555		54			2.1
Central Indiana		1,880		1,946		1,888		1,939		1,830		50			2.7
West Virginia		1,674		1,608		1,594		1,567		1,562		112			7.2
Other Regional		860		851		824		775		992		(132	)		(13.3	)
Regional Banking		33,132		33,093		32,749		32,452		32,153		979			3.0
Auto Finance and Dealer Services		62		54		54		59		56		6			10.7
Private Financial and Capital Markets Group		1,583		1,518		1,583		1,629		1,645		(62	)		(3.8	)
Treasury / Other		3,026		3,362		3,545		3,535		3,798		(772	)		(20.3	)
Total deposits	$	37,803	$	38,027	$	37,931	$	37,675	$	37,652	$	151			0.4	%

⁽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)

	2008									2007						3Q08 vs 3Q07
(in thousands, except per share amounts)	Third			Second			First			Fourth			Third			Amount			Percent
Interest income	$	685,728		$	696,675		$	753,411		$	814,398		$	851,155		$	(165,427	)		(19.4)	%
Interest expense		297,092			306,809			376,587			431,465			441,522			(144,430	)		(32.7	)
Net interest income		388,636			389,866			376,824			382,933			409,633			(20,997	)		(5.1	)
Provision for credit losses		125,392			120,813			88,650			512,082			42,007			83,385			N.M.
Net interest income (loss) after provision for credit losses		263,244			269,053			288,174			(129,149	)		367,626			(104,382	)		(28.4	)
Service charges on deposit accounts		80,508			79,630			72,668			81,276			78,107			2,401			3.1
Trust services		30,952			33,089			34,128			35,198			33,562			(2,610	)		(7.8	)
Brokerage and insurance income		34,309			35,694			36,560			30,288			28,806			5,503			19.1
Other service charges and fees		23,446			23,242			20,741			21,891			21,045			2,401			11.4
Bank owned life insurance income		13,318			14,131			13,750			13,253			14,847			(1,529	)		(10.3	)
Mortgage banking income (loss)		10,302			12,502			(7,063	)		3,702			9,629			673			7.0
Securities (losses) gains		(15,157	)		2,073			1,429			(11,551	)		(13,152	)		(2,005	)		(15.2	)
Other income (loss) (2)		48,812			36,069			63,539			(3,500	)		31,830			16,982			53.4
Total non-interest income		226,490			236,430			235,752			170,557			204,674			21,816			10.7
Personnel costs		184,827			199,991			201,943			214,850			202,148			(17,321	)		(8.6	)
Outside data processing and other services		32,386			30,186			34,361			39,130			40,600			(8,214	)		(20.2	)
Net occupancy		25,215			26,971			33,243			26,714			33,334			(8,119	)		(24.4	)
Equipment		22,102			25,740			23,794			22,816			23,290			(1,188	)		(5.1	)
Amortization of intangibles		19,463			19,327			18,917			20,163			19,949			(486	)		(2.4	)
Marketing		7,049			7,339			8,919			16,175			13,186			(6,137	)		(46.5	)
Professional services		13,405			13,752			9,090			14,464			11,273			2,132			18.9
Telecommunications		6,007			6,864			6,245			8,513			7,286			(1,279	)		(17.6	)
Printing and supplies		4,316			4,757			5,622			6,594			4,743			(427	)		(9.0	)
Other expense (2)		24,226			42,876			28,347			70,133			29,754			(5,528	)		(18.6	)
Total non-interest expense		338,996			377,803			370,481			439,552			385,563			(46,567	)		(12.1	)
Income (loss) before income taxes		150,738			127,680			153,445			(398,144	)		186,737			(35,999	)		(19.3	)
Provision (benefit) for income taxes		35,535			26,328			26,377			(158,864	)		48,535			(13,000	)		(26.8	)
Net income (loss)	$	115,203		$	101,352		$	127,068		$	(239,280	)	$	138,202		$	(22,999	)		(16.6	)%
Dividends declared on preferred shares		12,091			11,151			—			—			—			12,091			—
Net income (loss) applicable to common shares	$	103,112		$	90,201		$	127,068		$	(239,280	)	$	138,202		$	(35,090	)		(25.4	)%
Average common shares — basic		366,124			366,206			366,235			366,119			365,895
Average common shares — diluted (3)		414,968			367,234			367,208			366,119			368,280			46,688			12.7	%
Per common share
Net income (loss) — basic	$	0.28		$	0.25		$	0.35		$	(0.65	)	$	0.38		$	(0.10	)		(26.3	)%
Net income (loss) — diluted		0.28			0.25			0.35			(0.65	)		0.38		$	(0.10	)		(26.3	)
Cash dividends declared		0.1325			0.1325			0.2650			0.2650			0.2650			(0.133	)		(50.2	)
Return on average total assets		0.84	%		0.73	%		0.93	%		(1.74)	%		1.02			(0.18)	%		(17.6	)
Return on average total shareholders’ equity		7.2			6.4			8.7			(15.3	)		8.8			(1.6	)		(18.2	)
Return on average tangible shareholders’ equity (4)		16.9			15.0			22.0			(30.7	)		19.7			(2.80	)		(14.2	)
Net interest margin (5)		3.29			3.29			3.23			3.26			3.52			(0.23	)		(6.5	)
Efficiency ratio (6)		50.3			56.9			57.0			73.5			57.7			(7.4	)		(12.8	)
Effective tax rate (benefit)		23.6			20.6			17.2			(39.9	)		26.0			(2.4	)		(9.2	)
Revenue — fully taxable equivalent (FTE)
Net interest income	$	388,636		$	389,866		$	376,824		$	382,933		$	409,633		$	(20,997	)		(5.1	)
FTE adjustment		5,451			5,624			5,502			5,363			5,712			(261	)		(4.6	)
Net interest income (5)		394,087			395,490			382,326			388,296			415,345			(21,258	)		(5.1	)
Non-interest income		226,490			236,430			235,752			170,557			204,674			21,816			10.7
Total revenue (5)	$	620,577		$	631,920		$	618,078		$	558,853		$	620,019		$	558			0.1	%

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)	For the three months ended September 30, 2008, the impact of the convertible preferred stock issued in April of 2008 was included in the diluted share calculation. It was included because the result was less than basic earnings per common share (dilutive) for the period. For the three months ended June 30, 2008, the impact of the convertible preferred stock issued in April of 2008 was excluded from the diluted share calculation. It was excluded because the result would have been higher than basic earnings per common share (anti-dilutive) for the period.
(4)	Net income excluding expense for amortization of intangibles for the period divided by average tangible shareholders’ equity. Average tangible shareholders’ equity equals average stockholders’ equity less equals average intangible assets and goodwill. Expense for amortization of intangibles and average intangible assets are net of deferred tax liability, and calculated assuming a 35% tax rate.
(5)	On a fully taxable equivalent (FTE) basis assuming a 35% tax rate.
(6)	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)

	2008									2007						3Q08 vs 3Q07
(in thousands, except as noted)	Third			Second			First			Fourth			Third			Amount			Percent
Mortgage Banking Income
Origination and secondary marketing	$	7,647		$	13,098		$	9,332		$	5,879		$	8,375		$	(728	)		(8.7)	%
Servicing fees		11,838			11,166			10,894			11,405			10,811			1,027			9.5
Amortization of capitalized servicing (1)		(6,234	)		(7,024	)		(6,914	)		(5,929	)		(6,571	)		337			5.1
Other mortgage banking income		3,519			5,959			4,331			4,113			3,016			503			16.7
Sub-total		16,770			23,199			17,643			15,468			15,631			1,139			7.3
MSR valuation adjustment (1)		(10,251	)		39,031			(18,093	)		(21,245	)		(9,863	)		(388	)		3.9
Net trading gains (losses) related to MSR hedging		3,783			(49,728	)		(6,613	)		9,479			3,861			(78	)		(2.0	)
Total mortgage banking income (loss)	$	10,302		$	12,502		$	(7,063	)	$	3,702		$	9,629		$	673			7.0	%
Capitalized mortgage servicing rights (2)	$	230,398		$	240,024		$	191,806		$	207,894		$	228,933		$	1,465			0.6	%
Total mortgages serviced for others (in millions) (2)		15,741			15,770			15,138			15,088			15,073			668			4.4
MSR % of investor servicing portfolio		1.46	%		1.52	%		1.27	%		1.38	%		1.52	%		(0.06	)%		(3.9	)
Net Impact of MSR Hedging
MSR valuation adjustment (1)	$	(10,251	)	$	39,031		$	(18,093	)	$	(21,245	)	$	(9,863	)	$	(388	)		3.9	%
Net trading gains (losses) related to MSR hedging		3,783			(49,728	)		(6,613	)		9,479			3,861			(78	)		(2.0	)
Net interest income related to MSR hedging		8,368			9,364			5,934			3,192			2,357			6,011			N.M.
Net impact of MSR hedging	$	1,900		$	(1,333	)	$	(18,772	)	$	(8,574	)	$	(3,645	)	$	5,545			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)

	2008									2007
(in thousands)	Third			Second			First			Fourth			Third
Allowance for loan and lease losses, beginning of period	$	679,403		$	627,615		$	578,442		$	454,784		$	307,519
Acquired allowance for loan and lease losses		—			—			—			—			188,128
Loan and lease losses		(96,388	)		(78,084	)		(60,804	)		(388,506	)		(57,466	)
Recoveries of loans previously charged off		12,637			12,837			12,355			10,599			10,360
Net loan and lease losses		(83,751	)		(65,247	)		(48,449	)		(377,907	)		(47,106	)
Provision for loan and lease losses		125,086			117,035			97,622			503,781			36,952
Allowance for loans transferred to held-for-sale		—			—			—			(2,216	)		(30,709	)
Allowance for loan and lease losses, end of period	$	720,738		$	679,403		$	627,615		$	578,442		$	454,784
Allowance for unfunded loan commitments and letters of credit, beginning of period	$	61,334		$	57,556		$	66,528		$	58,227		$	41,631
Acquired AULC		—			—			—			—			11,541
Provision for (reduction in) unfunded loan commitments and letters of credit losses		306			3,778			(8,972	)		8,301			5,055
Allowance for unfunded loan commitments and letters of credit, end of period	$	61,640		$	61,334		$	57,556		$	66,528		$	58,227
Total allowances for credit losses	$	782,378		$	740,737		$	685,171		$	644,970		$	513,011
Allowance for loan and lease losses (ALLL) as % of:
Transaction reserve		1.54	%		1.45	%		1.34	%		1.27	%		0.97	%
Economic reserve		0.21			0.21			0.19			0.17			0.17
Total loans and leases		1.75	%		1.66	%		1.53	%		1.44	%		1.14	%
Nonaccrual loans and leases (NALs)		123			127			166			181			182
Total allowances for credit losses (ACL) as % of:
Total loans and leases		1.90	%		1.80	%		1.67	%		1.61	%		1.28	%
Nonaccrual loans and leases		134			138			182			202			206

9

Huntington Bancshares Incorporated
Quarterly Net Charge-Off Analysis

(Unaudited)

	2008									2007
(in thousands)	Third			Second			First			Fourth			Third
Net charge-offs by loan and lease type:
Commercial:
Commercial and industrial	$	29,646		$	12,361		$	10,732		$	323,905		$	12,641
Commercial real estate:
Construction		3,539			575			122			6,800			2,157
Commercial		7,446			14,524			4,153			13,936			2,506
Commercial real estate		10,985			15,099			4,275			20,736			4,663
Total commercial		40,631			27,460			15,007			344,641			17,304
Consumer:
Automobile loans		9,813			8,522			8,008			7,347			5,354
Automobile leases		3,532			2,928			3,211			3,046			2,561
Automobile loans and leases		13,345			11,450			11,219			10,393			7,915
Home equity (1)		15,828			17,345			15,215			12,212			10,841
Residential mortgage		6,706			4,286			2,927			3,340			4,405
Other loans (1)		7,241			4,706			4,081			7,321			6,641
Total consumer		43,120			37,787			33,442			33,266			29,802
Total net charge-offs	$	83,751		$	65,247		$	48,449		$	377,907		$	47,106
Net charge-offs — annualized percentages:
Commercial:
Commercial and industrial		0.87	%		0.36	%		0.32	%		9.76	%		0.39	%
Commercial real estate:
Construction		0.68			0.11			0.02			1.44			0.48
Commercial		0.39			0.77			0.23			0.78			0.14
Commercial real estate		0.45			0.63			0.18			0.92			0.21
Total commercial		0.69			0.47			0.27			6.18			0.31
Consumer:
Automobile loans		1.02			0.94			0.97			0.96			0.73
Automobile leases		1.84			1.28			1.18			0.96			0.72
Automobile loans and leases		1.15			1.01			1.02			0.96			0.73
Home equity (1)		0.85			0.94			0.84			0.67			0.58
Residential mortgage		0.56			0.33			0.22			0.25			0.32
Other loans (1)		4.32			2.69			2.29			4.02			4.97
Total consumer		0.98			0.85			0.75			0.75			0.67
Net charge-offs as a % of average loans		0.82	%		0.64	%		0.48	%		3.77	%		0.47	%

⁽¹⁾ During the 2008 third quarter, we reclassified certain previously reported 2008 first and second quarter charge-offs from other consumer loans to home equity loans.

10

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

(Unaudited)

	2008									2007
(in thousands)	September 30,			June 30,			March 31,			December 31,			September 30,
Nonaccrual loans and leases:
Commercial and industrial	$	174,207		$	161,345		$	101,842		$	87,679		$	82,960
Commercial real estate		298,844			261,739			183,000			148,467			95,587
Residential mortgage		85,163			82,882			66,466			59,557			47,738
Home equity		27,727			29,076			26,053			24,068			23,111
Total nonaccrual loans and leases		585,941			535,042			377,361			319,771			249,396
Restructured loans (4)		364,939			368,379			1,157,361			1,187,368			—
Other real estate, net:
Residential		59,302			59,119			63,675			60,804			49,555
Commercial		14,176			13,259			10,181			14,467			19,310
Total other real estate, net		73,478			72,378			73,856			75,271			68,865
Impaired loans held for sale (1)		13,503			14,759			66,353			73,481			100,485
Other NPAs (2)		2,397			2,557			2,836			4,379			16,296
Total nonperforming assets	$	1,040,258		$	993,115		$	1,677,767		$	1,660,270		$	435,042
Nonaccrual loans and leases as a % of total loans and leases (NAL ratio)		1.42	%		1.30	%		0.92	%		0.80	%		0.62	%
NPA ratio (3)		2.52			2.41			4.08			4.13			1.08
Accruing loans and leases past due 90 days or more	$	191,518		$	136,914		$	152,897		$	140,977		$	115,607
Accruing loans and leases past due 90 days or more as a percent of total loans and leases		0.46	%		0.33	%		0.37	%		0.35	%		0.29	%
	2008									2007
(in thousands)	Third			Second			First			Fourth			Third
Nonperforming assets, beginning of period	$	993,115		$	1,677,767		$	1,660,270		$	435,042		$	261,185
New nonperforming assets		175,345			256,308			141,090			211,134			92,986
Restructured loans (4)		—			(762,033	)		—			1,187,368			—
Acquired nonperforming assets		—			—			—			—			144,492
Returns to accruing status		(9,104	)		(5,817	)		(13,484	)		(5,273	)		(8,829	)
Loan and lease losses		(52,792	)		(40,808	)		(27,896	)		(62,502	)		(28,031	)
Payments		(46,759	)		(73,040	)		(68,753	)		(30,756	)		(17,589	)
Sales		(19,547	)		(59,262	)		(13,460	)		(74,743	)		(9,172	)
Nonperforming assets, end of period	$	1,040,258		$	993,115		$	1,677,767		$	1,660,270		$	435,042

(1)	Represent impaired loans obtained from the Sky Financial acquisition. Held for sale loans are carried at the lower of cost or fair value less costs to sell. The decline from March 31, 2008 to June 30, 2008 was primarily due to the sale of these loans.
(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 represent loans to Franklin Credit Management Corporation (Franklin) that were restructured during the 2007 fourth quarter, and the subsequent removal of the Franklin Tranche A loans from nonperforming status during the 2008 second quarter.

11

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

(Unaudited)

Quarterly common stock summary

	2008									2007
(in thousands, except per share amounts)	Third			Second			First			Fourth			Third
Common stock price, per share
High (1)	$	13.500		$	11.750		$	14.870		$	18.390		$	22.930
Low (1)		4.370			4.940			9.640			13.500			16.050
Close		7.990			5.770			10.750			14.760			16.980
Average closing price		7.510			8.783			12.268			16.125			18.671
Dividends, per share
Cash dividends declared per common share	$	0.1325		$	0.1325		$	0.2650		$	0.2650		$	0.2650
Common shares outstanding
Average — basic		366,124			366,206			366,235			366,119			365,895
Average — diluted (2)		414,968			367,234			367,208			366,119			368,280
Ending		366,069			366,197			366,226			366,262			365,898
Book value per common share	$	15.88		$	15.87		$	16.13		$	16.24		$	17.08
Tangible book value per common share (2)		6.87			6.82			7.08			7.13			8.10
Capital data
	2008									2007
(in millions)	September 30,			June 30,			March 31,			December 31,			September 30,
Calculation of tangible equity / asset ratio:
Total shareholders’ equity	$	6,383		$	6,381		$	5,907		$	5,949		$	6,250
Less: goodwill		(3,056	)		(3,057	)		(3,047	)		(3,059	)		(2,996	)
Less: other intangible assets		(376	)		(395	)		(409	)		(428	)		(443	)
Add: related deferred tax liability (3)		132			138			143			150			155
Total tangible equity		3,082			3,068			2,593			2,612			2,965
Less: Preferred equity		(569	)		(569	)		—			—			—
Total tangible common equity	$	2,513		$	2,499		$	2,593		$	2,612		$	2,965
Total assets	$	54,671		$	55,334		$	56,052		$	54,697		$	55,304
Less: goodwill		(3,056	)		(3,057	)		(3,047	)		(3,059	)		(2,996	)
Less: other intangible assets		(376	)		(395	)		(409	)		(428	)		(443	)
Add: related deferred tax liability (3)		132			138			143			150			155
Total tangible assets	$	51,371		$	52,020		$	52,739		$	51,360		$	52,020
Tangible equity / asset ratio		6.00	%		5.90	%		4.92	%		5.08	%		5.70	%
Tangible common equity / asset ratio		4.89			4.80			4.92			5.08			5.70
Other capital data:
Total risk-weighted assets (4)	$	46,628		$	46,602		$	46,546		$	46,044		$	45,931
Tier 1 leverage ratio (4)		8.05	%		7.88	%		6.83	%		6.77	%		7.57	%
Tier 1 risk-based capital ratio (4)		8.86			8.82			7.56			7.51			8.35
Total risk-based capital ratio (4)		12.09			12.05			10.87			10.85			11.58
Tangible equity / risk-weighted assets ratio (4)		6.61			6.58			5.57			5.67			6.46
Average equity / average assets		11.57			11.44			10.70			11.40			11.50
Other data:
Number of employees (full-time equivalent)		10,890			11,250			11,787			11,925			12,312
Number of domestic full-service banking offices (5)		612			625			627			625			620

(1)	High and low stock prices are intra-day quotes obtained from NASDAQ.
(2)	For the three months ended September 30, 2008, the impact of the convertible preferred stock issued in April of 2008 was included in the diluted share calculation. It was included because the result was less than basic earnings per common share (dilutive) for the period. For the three months ended June 30, 2008, the impact of the convertible preferred stock issued in April of 2008 was excluded from the diluted share calculation. It was excluded because the result would have been higher than basic earnings per common share (anti-dilutive) for the period.
(3)	Other intangible assets are net of deferred tax liability, and calculated assuming a 35% tax rate.
(4)	September 30, 2008 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.
(5)	Includes Private Financial Group offices.

12

Huntington Bancshares Incorporated
Consolidated Year to Date Average Balance Sheets

(Unaudited)

	YTD Average Balances
Fully taxable equivalent basis	Nine Months Ended September 30,						Change
(in millions)	2008			2007			Amount			Percent
Assets
Interest bearing deposits in banks	$	290		$	187		$	103			55.1	%
Trading account securities		1,139			480			659			N.M.
Federal funds sold and securities purchased under resale agreements		565			545			20			3.7
Loans held for sale		446			318			128			40.3
Investment securities:
Taxable		3,908			3,601			307			8.5
Tax-exempt		711			632			79			12.5
Total investment securities		4,619			4,233			386			9.1
Loans and leases: (1)
Commercial:
Commercial and industrial		13,535			9,748			3,787			38.8
Commercial real estate:
Construction		2,047			1,412			635			45.0
Commercial		7,521			4,639			2,882			62.1
Commercial real estate		9,568			6,051			3,517			58.1
Total commercial		23,103			15,799			7,304			46.2
Consumer:
Automobile loans		3,601			2,492			1,109			44.5
Automobile leases		924			1,556			(632	)		(40.6	)
Automobile loans and leases		4,525			4,048			477			11.8
Home equity		7,364			5,794			1,570			27.1
Residential mortgage		5,113			4,771			342			7.2
Other loans		695			461			234			50.8
Total consumer		17,697			15,074			2,623			17.4
Total loans and leases		40,800			30,873			9,927			32.2
Allowance for loan and lease losses		(672	)		(351	)		(321	)		(91.5	)
Net loans and leases		40,128			30,522			9,606			31.5
Total earning assets		47,859			36,636			11,223			30.6
Cash and due from banks		968			925			43			4.6
Intangible assets		3,454			1,540			1,914			N.M.
All other assets		3,419			2,670			749			28.1
Total Assets	$	55,028		$	41,420		$	13,608			32.9	%
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — non-interest bearing	$	5,058		$	4,175		$	883			21.1	%
Demand deposits — interest bearing		4,008			2,859			1,149			40.2
Money market deposits		6,292			5,946			346			5.8
Savings and other domestic deposits		4,987			3,660			1,327			36.3
Core certificates of deposit		11,210			7,183			4,027			56.1
Total core deposits		31,555			23,823			7,732			32.5
Other domestic deposits of $100,000 or more		2,042			1,266			776			61.3
Brokered deposits and negotiable CDs		3,309			3,146			163			5.2
Deposits in foreign offices		1,015			605			410			67.8
Total deposits		37,921			28,840			9,081			31.5
Short-term borrowings		2,584			2,163			421			19.5
Federal Home Loan Bank advances		3,312			1,675			1,637			97.7
Subordinated notes and other long-term debt		4,043			3,624			419			11.6
Total interest bearing liabilities		42,802			32,127			10,675			33.2
All other liabilities		983			1,018			(35	)		(3.4	)
Shareholders’ equity		6,185			4,100			2,085			50.9
Total Liabilities and Shareholders’ Equity	$	55,028		$	41,420		$	13,608			32.9	%

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

13

Huntington Bancshares Incorporated
Consolidated Year to Date Net Interest Margin Analysis

(Unaudited)

	YTD Average Rates (2)
	Nine Months Ended September 30,
Fully Taxable Equivalent basis (1)	2008			2007
Assets
Interest bearing deposits in banks		2.96	%		4.93	%
Trading account securities		5.26			5.94
Federal funds sold and securities purchased under resale agreements		2.52			5.26
Loans held for sale		5.86			5.61
Investment securities:
Taxable		5.58			6.11
Tax-exempt		6.77			6.71
Total investment securities		5.76			6.20
Loans and leases (3):
Commercial:
Commercial and industrial		5.79			7.52
Commercial real estate:
Construction		5.14			7.88
Commercial		5.68			7.56
Commercial real estate		5.56			7.64
Total commercial		5.68			7.57
Consumer:
Automobile loans		7.16			7.11
Automobile leases		5.60			5.38
Automobile loans and leases		6.85			6.44
Home equity		6.60			7.72
Residential mortgage		5.83			5.76
Other loans		10.05			10.88
Total consumer		6.58			6.85
Total loans and leases		6.08			7.22
Total earning assets		6.01	%		7.08	%
Liabilities and Shareholders’ Equity
Deposits:
Demand deposits — non-interest bearing		—	%		—	%
Demand deposits — interest bearing		0.62			1.36
Money market deposits		2.11			4.00
Savings and other domestic deposits		1.95			2.02
Core certificates of deposit		4.36			4.86
Total core deposits		2.80			3.56
Other domestic deposits of $100,000 or more		3.87			5.14
Brokered deposits and negotiable CDs		3.75			5.48
Deposits in foreign offices		1.75			3.16
Total deposits		2.93			3.88
Short-term borrowings		1.99			4.29
Federal Home Loan Bank advances		3.30			4.97
Subordinated notes and other long-term debt		4.52			5.96
Total interest bearing liabilities		3.05			4.20
Net interest rate spread		2.96			2.88
Impact of non-interest bearing funds on margin		0.31			0.52
Net interest margin		3.27	%		3.40	%

(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 Year to Date Income Statement Data ⁽¹⁾

(Unaudited)

	Nine Months Ended September 30,						Change
(in thousands, except per share amounts)	2008			2007			Amount			Percent
Interest income	$	2,135,814		$	1,928,565		$	207,249			10.7	%
Interest expense		980,488			1,009,986			(29,498	)		(2.9	)
Net interest income		1,155,326			918,579			236,747			25.8
Provision for credit losses		334,855			131,546			203,309			N.M.
Net interest income after provision for credit losses		820,471			787,033			33,438			4.2
Service charges on deposit accounts		232,806			172,917			59,889			34.6
Trust services		98,169			86,220			11,949			13.9
Brokerage and insurance income		106,563			62,087			44,476			71.6
Other service charges and fees		67,429			49,176			18,253			37.1
Bank owned life insurance income		41,199			36,602			4,597			12.6
Mortgage banking income		15,741			26,102			(10,361	)		(39.7	)
Securities losses		(11,655	)		(18,187	)		6,532			(35.9	)
Other income (2)		148,420			91,127			57,293			62.9
Total non-interest income		698,672			506,044			192,628			38.1
Personnel costs		586,761			471,978			114,783			24.3
Outside data processing and other services		96,933			88,115			8,818			10.0
Net occupancy		85,429			72,659			12,770			17.6
Equipment		71,636			58,666			12,970			22.1
Amortization of intangibles		57,707			24,988			32,719			N.M.
Marketing		23,307			29,868			(6,561	)		(22.0	)
Professional services		36,247			25,856			10,391			40.2
Telecommunications		19,116			15,989			3,127			19.6
Printing and supplies		14,695			11,657			3,038			26.1
Other expense (2)		95,449			72,514			22,935			31.6
Total non-interest expense		1,087,280			872,290			214,990			24.6
Income before income taxes		431,863			420,787			11,076			2.6
Provision for income taxes		88,240			106,338			(18,098	)		(17.0	)
Net income	$	343,623		$	314,449		$	29,174			9.3	%
Dividends declared on preferred shares		23,242		$	—			23,242			—
Net income applicable to common shares	$	320,381		$	314,449		$	5,932			1.9	%
Average common shares — basic		366,188			279,171			87,017			31.2	%
Average common shares — diluted (3)		396,457			282,014			114,443			40.6
Per common share
Net income per common share — basic	$	0.87		$	1.13		$	(0.26	)		(23.0	)%
Net income per common share — diluted		0.87			1.12			(0.25	)		(22.3	)
Cash dividends declared		0.530			0.795			(0.265	)		(33.3	)
Return on average total assets		0.83	%		1.02	%		(0.19	)%		(18.6	)%
Return on average total shareholders’ equity		7.4			10.3			(2.9	)		(28.2	)
Return on average tangible shareholders’ equity (4)		17.7			16.8			0.9			5.4
Net interest margin (5)		3.27			3.40			(0.13	)		(3.8	)
Efficiency ratio (6)		54.7			58.2			(3.5	)		(6.0	)
Effective tax rate		20.4			25.3			(4.9	)		(19.4	)
Revenue — fully taxable equivalent (FTE)
Net interest income	$	1,155,326		$	918,579		$	236,747			25.8	%
FTE adjustment (5)		16,577			13,886			2,691			19.4
Net interest income		1,171,903			932,465			239,438			25.7
Non-interest income		698,672			506,044			192,628			38.1
Total revenue	$	1,870,575		$	1,438,509		$	432,066			30.0	%

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)	For the nine months ended September 30, 2008, the impact of the convertible preferred stock issued in April of 2008 was included in the diluted share calculation. It was included because the result was less than basic earnings per share (dilutive) on a year-to-date basis.
(4)	Net income excluding expense for amortization of intangibles for the period divided by average tangible shareholders’ equity. Average tangible shareholders’ equity equals average total shareholders’ equity less average intangible assets and goodwill. Expense for amortization of intangibles and average intangible assets are net of deferred tax liability, and calculated assuming a 35% tax rate.
(5)	On a fully taxable equivalent (FTE) basis assuming a 35% tax rate.
(6)	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
Year to Date Mortgage Banking Income

(Unaudited)

	Nine Months Ended September 30,						Change
(in thousands, except as noted)	2008			2007			Amount			Percent
Mortgage Banking Income
Origination and secondary marketing	$	30,077		$	20,086		$	9,991			49.7	%
Servicing fees		33,898			24,607			9,291			37.8
Amortization of capitalized servicing (1)		(20,172	)		(14,658	)		(5,514	)		(37.6	)
Other mortgage banking income		13,809			9,085			4,724			52.0
Sub-total		57,612			39,120			18,492			47.3
MSR valuation adjustment (1)		10,687			5,114			5,573			N.M.
Net trading losses related to MSR hedging		(52,558	)		(18,132	)		(34,426	)		N.M.
Total mortgage banking income	$	15,741		$	26,102		$	(10,361	)		(39.7	)%
Capitalized mortgage servicing rights (2)	$	230,398		$	228,933		$	1,465			0.6	%
Total mortgages serviced for others (in millions) (2)		15,741			15,073			668			4.4
MSR % of investor servicing portfolio		1.46	%		1.52	%		(0.06	)%		(3.9	)
Net Impact of MSR Hedging
MSR valuation adjustment (1)	$	10,687		$	5,114		$	5,573			N.M.	%
Net trading losses related to MSR hedging		(52,558	)		(18,132	)		(34,426	)		N.M.
Net interest income related to MSR hedging		23,666			2,605			21,061			N.M.
Net impact of MSR hedging	$	(18,205	)	$	(10,413	)	$	(7,792	)		74.8	%

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.

16

Huntington Bancshares Incorporated
Year to Date Credit Reserves Analysis

(Unaudited)

	Nine Months Ended September 30,
(in thousands)	2008			2007
Allowance for loan and lease losses, beginning of period	$	578,442		$	272,068
Acquired allowance for loan and lease losses		—			188,128
Loan and lease losses		(235,276	)		(129,437	)
Recoveries of loans previously charged off		37,829			29,713
Net loan and lease losses		(197,447	)		(99,724	)
Provision for loan and lease losses		339,743			125,021
Allowance for loans transferred to held-for-sale		—			(30,709	)
Allowance for loan and lease losses, end of period	$	720,738		$	454,784
Allowance for unfunded loan commitments and letters of credit, beginning of period	$	66,527		$	40,161
Acquired AULC		—			11,541
(Reduction in) provision for unfunded loan commitments and letters of credit losses		(4,888	)		6,525
Allowance for unfunded loan commitments and letters of credit, end of period	$	61,639		$	58,227
Total allowances for credit losses	$	782,377		$	513,011
Allowance for loan and lease losses (ALLL) as % of:
Transaction reserve		1.54	%		0.97	%
Economic reserve		0.21			0.17
Total loans and leases		1.75	%		1.14	%
Nonaccrual loans and leases (NALs)		123			182
Total allowances for credit losses (ACL) as % of:
Total loans and leases		1.90	%		1.28	%
Nonaccrual loans and leases		134			206

17

Huntington Bancshares Incorporated
Year to Date Net Charge-Off Analysis

(Unaudited)

	Nine Months Ended September 30,
(in thousands)	2008			2007
Net charge-offs by loan and lease type:
Commercial:
Commercial and industrial	$	52,739		$	21,935
Commercial real estate:
Construction		4,236			5,054
Commercial		26,123			13,314
Commercial real estate		30,359			18,368
Total commercial		83,098			40,303
Consumer:
Automobile loans		26,343			9,838
Automobile leases		9,671			7,461
Automobile loans and leases		36,014			17,299
Home equity		48,388			22,214
Residential mortgage		13,919			8,031
Other loans		16,028			11,877
Total consumer		114,349			59,421
Total net charge-offs	$	197,447		$	99,724
Net charge-offs — annualized percentages:
Commercial:
Commercial and industrial		0.52	%		0.30	%
Commercial real estate:
Construction		0.28			0.48
Commercial		0.46			0.38
Commercial real estate		0.42			0.40
Total commercial		0.48			0.34
Consumer:
Automobile loans		0.98			0.53
Automobile leases		1.40			0.64
Automobile loans and leases		1.06			0.57
Home equity		0.88			0.51
Residential mortgage		0.36			0.22
Other loans		3.07			3.44
Total consumer		0.86			0.53
Net charge-offs as a % of average loans		0.65	%		0.43	%

18

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

(Unaudited)

	Nine Months Ended September 30,
(in thousands)	2008			2007
Nonaccrual loans and leases:
Middle market commercial and industrial	$	174,207		$	82,960
Middle market commercial real estate		298,844			95,587
Residential mortgage		85,163			47,738
Home equity		27,727			23,111
Total nonaccrual loans and leases		585,941			249,396
Restructured loans (1)		364,939			—
Other real estate, net:
Residential		59,302			49,555
Commercial		14,176			19,310
Total other real estate, net		73,478			68,865
Impaired loans held for sale (2)		13,503			100,485
Other NPAs (3)		2,397			16,296
Total nonperforming assets	$	1,040,258		$	435,042
Nonperforming loans and leases as a % of total loans and leases		1.42	%		0.62	%
NPA ratio (4)		2.52			1.08
Accruing loans and leases past due 90 days or more	$	191,518		$	115,607
Accruing loans and leases past due 90 days or more as a percent of total loans and leases		0.46	%		0.29	%

	Nine Months Ended September 30,
(in thousands)	2008			2007
Nonperforming assets, beginning of period	$	1,660,270		$	193,620
New nonperforming assets		572,743			256,922
Restructured loans (1)		(762,033	)		—
Acquired nonperforming assets		—			144,492
Returns to accruing status		(28,405	)		(19,679	)
Loan and lease losses		(121,496	)		(64,252	)
Payments		(188,552	)		(55,337	)
Sales		(92,269	)		(20,724	)
Non-performing assets, end of period	$	1,040,258		$	435,042

(1)	Restructured loans represent loans to Franklin Credit Management Corporation (Franklin) that were restructured during the 2007 fourth quarter, and the subsequent removal of the Franklin Tranche A loans from nonperforming status during the 2008 second quarter.
(2)	Represent impaired loans obtained from the Sky acquisition. Held for sale loans are carried at the lower of cost or fair value less costs to sell.
(3)	Other NPAs represent certain investment securities backed by mortgage loans to borrowers with lower FICO scores.
(4)	Nonperforming assets divided by the sum of loans and leases, impaired loans held for sale, net other real estate, and other NPAs.

19