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<SEC-DOCUMENT>0000950152-02-005670.txt : 20020724
<SEC-HEADER>0000950152-02-005670.hdr.sgml : 20020724
<ACCEPTANCE-DATETIME>20020724173101
ACCESSION NUMBER:		0000950152-02-005670
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20020718
ITEM INFORMATION:		Other events
ITEM INFORMATION:		Financial statements and exhibits
FILED AS OF DATE:		20020724

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HUNTINGTON BANCSHARES INC/MD
		CENTRAL INDEX KEY:			0000049196
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				310724920
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-02525
		FILM NUMBER:		02710195

	BUSINESS ADDRESS:	
		STREET 1:		HUNTINGTON CTR
		STREET 2:		41 S HIGH ST HC0632
		CITY:			COLUMBUS
		STATE:			OH
		ZIP:			43287
		BUSINESS PHONE:		6144808300

	MAIL ADDRESS:	
		STREET 1:		HUNTINGTON CENTER2
		STREET 2:		41 S HIGH ST HC063
		CITY:			COLUMBUS
		STATE:			OH
		ZIP:			43287
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>l95502ae8vk.txt
<DESCRIPTION>HUNTINGTON BANCSHARES INCORPORATED    8-K
<TEXT>
<PAGE>
                       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: JULY 18, 2002

                              --------------------

                       HUNTINGTON BANCSHARES INCORPORATED
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

                              --------------------


   MARYLAND                          0-2525                      31-0724920
- ---------------             -------------------------           ----------
(STATE OR OTHER               (COMMISSION FILE NO.)           (IRS EMPLOYER
JURISDICTION OF                                           IDENTIFICATION NUMBER)
INCORPORATION OR
ORGANIZATION)
                              --------------------


                                Huntington Center
                              41 South High Street
                              Columbus, Ohio 43287
                                 (614) 480-8300
               (ADDRESS, INCLUDING ZIP CODE, AND TELEPHONE NUMBER
                       INCLUDING AREA CODE OF REGISTRANT'S
                          PRINCIPAL EXECUTIVE OFFICES)


                              ---------------------




<PAGE>


ITEM  5.  OTHER EVENTS.

         On July 18, 2002, Huntington Bancshares Incorporated ("Huntington")
issued a news release announcing its earnings for the second quarter and six
months ended June 30, 2002. The information contained in the news release, which
is attached as Exhibit 99.1 to this report, is incorporated herein by reference.
Huntington also presented this information during a conference call which was
available via Internet Webcast. The presentation materials are attached as
Exhibits 99.2 and 99.3 to this report, and are incorporated herein by reference.

         The information contained or incorporated by reference in this Current
Report on Form 8-K may contain forward-looking statements, including certain
plans, expectations, goals, and projections, which are subject to numerous
assumptions, risks, and uncertainties. A number of factors, including but not
limited to those set forth under the heading "Business Risks" included in Item 1
of Huntington's Annual Report on Form 10-K for the year ended December 31, 2001,
and other factors described from time to time in Huntington's other filings with
the Securities and Exchange Commission, could cause actual conditions, events,
or results to differ significantly from those described in the forward-looking
statements. All forward-looking statements included in this Current Report on
Form 8-K are based on information available at the time of the Report.
Huntington assumes no obligation to update any forward-looking statement.


ITEM  7.  FINANCIAL STATEMENTS AND EXHIBITS.

            (c) Exhibits.

                 Exhibit 99.1 News release of Huntington Bancshares
                              Incorporated, dated July 18, 2002.

                 Exhibit 99.2 Presentation Transcript of July 18, 2002.

                 Exhibit 99.3 Presentation Materials, dated July 18, 2002.


                                   SIGNATURES

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


                                  HUNTINGTON BANCSHARES INCORPORATED

Date:    July 24, 2002            By: /s/ Michael J. McMennamin
                                     --------------------------------
                                     Michael J. McMennamin, Vice Chairman,
                                     Chief Financial Officer, and Treasurer
<PAGE>

                                  EXHIBIT INDEX

         Exhibit No.        Description

         Exhibit 99.1     * News release of Huntington Bancshares Incorporated,
                            dated July 18, 2002.

         Exhibit 99.2     * Presentation Transcript of July 18, 2002.

         Exhibit 99.3     * Presentation Materials, dated July 18, 2002.


         -------------------
         * Filed with this report.





</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>l95502aexv99w1.txt
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<PAGE>

                                                                    Exhibit 99.1
FOR IMMEDIATE RELEASE
July 18, 2002

CONTACTS:
Investors                                  Media
Jay Gould         (614) 480-4060           Jeri Grier        (614) 480-5413
Susan Stuart      (614) 480-3878


                          HUNTINGTON BANCSHARES REPORTS
                 SECOND QUARTER 2002 EARNINGS OF $0.33 PER SHARE

         COLUMBUS, Ohio - Huntington Bancshares Incorporated (NASDAQ: HBAN;
www.huntington.com) today reported second quarter earnings of $82.2 million, or
$0.33 per common share. This compares with earnings of $2.4 million, or $0.01
per common share, in the year-ago second quarter, and $97.7 million, or $0.39
per common share, in the first quarter of 2002. Year-to-date earnings in 2002
were $180.0 million, or $0.72 per common share, compared with $70.2 million, or
$0.28 per common share, in the comparable year-ago six-month period.

         On an operating basis, which excludes one-time items and the impact of
the sale of the Florida banking operations (see Basis of Discussion - Operating
Earnings below), second quarter 2002 earnings were $81.7 million, or $0.33 per
common share, both up 3% from first quarter earnings of $79.5 million, or $0.32
per common share, and up 8% and 10%, respectively, compared with the year-ago
quarter's operating earnings of $75.6 million, or $0.30 per share. Operating
earnings for the first six months of 2002 were $161.2 million, or $0.65 per
common share, up 10% and 12%, respectively, from the comparable prior-year
period operating earnings of $147.1 million, or $0.58 per common share.

         "Our second quarter results represented another milestone in the
rebuilding of Huntington from a number of perspectives," said Thomas Hoaglin,
chairman, president and chief executive officer. "The progress we have been
making both financially and strategically is becoming more visible. From an
operating results standpoint, our net interest margin expanded to 4.30%.
Moreover, progress in growing loans and deposits was again evident with
annualized growth rates of 7% and 19%, respectively, from the first quarter. Fee
income, excluding securities gains


                                       1
<PAGE>

and the anticipated decline in mortgage banking, was up 9% from the first
quarter with virtually all fee income categories contributing to this growth.
And, importantly, our efficiency ratio improved to 53.2%."

         "We are cautiously optimistic about credit quality trends reflected in
the decline in our net charge-off ratio, excluding exited portfolios, to 0.88%
from 0.97% in the first quarter driven by improving consumer credit quality," he
continued. "In addition, non-performing assets declined slightly and the inflow
of new non-performing assets was again down. We maintained our strong 2.00%
reserve ratio with the provision exceeding net charge-offs by $9.0 million.

         "Our share repurchase program moved forward," he continued, "as we
repurchased 7.3 million shares of our stock. This brings our program-to-date
purchases to 8.8 million shares."

         "We also made significant progress during the quarter in other
important strategic areas," he said. "First, we further strengthened our
management team with the addition of Mary Navarro to head Retail Banking. Mary
is a proven retail banker with a depth of knowledge about Huntington's local
markets. Second, our new 401(k) platform was successfully launched ahead of
schedule and provides state-of-the-art capability for our business customers. In
addition to the seamless conversion of our employee 401(k) plan to this new
platform, we have signed up 28 new business customers. Third, we successfully
completed the installation and initial training phase of our new banking office
Customer Service System. This Windows-based, intranet-compatible customer and
service platform provides the infrastructure upon which we can build enhanced
customer service and sales capabilities. We have also installed an enhanced
teller platform technology in 13% of our branches, with all branches to be
converted by year end. Finally, we sold the J. Rolfe Davis Insurance Agency,
Inc., our Florida-based property and casualty insurance business, back to its
management team as part of our strategic refocusing plan."


                                       2
<PAGE>

BASIS OF DISCUSSION - OPERATING EARNINGS

         Reported results for the past five quarters have been significantly
impacted by a number of items, primarily related to the strategic restructuring
announced in July 2001 and the subsequent sale of the Florida banking operations
in the 2002 first quarter. Reported 2002 first quarter results also included
Florida operations for only half the quarter versus a full quarter for each
prior quarter. Therefore, to better understand comparable underlying trends, the
following discussion is on an operating basis, which has been redefined this
quarter. While still excluding the impact of restructuring and other charges and
one-time items, operating earnings now also excludes the run-rate impact of the
sold Florida banking operations from prior periods. (Please refer to the
schedules immediately following this discussion, as well as the Quarterly
Financial Review for schedules reconciling reported with operating earnings and
additional schedules excluding the impact of the Florida operations.)

DISCUSSION OF RESULTS

         Second quarter 2002 results compared with sequential first quarter
operating performance, adjusted to exclude one-time items and the impact of the
sold Florida banking operations, reflected:

- - 5% increase in revenue excluding securities gains and decline in mortgage
     banking income

  - 4% increase in net interest income

    - 4.30% net interest margin, up from 4.21%

    - 7% annualized growth in managed loans

    - 19% annualized growth in core deposits

    - 9% increase in non-interest income, excluding mortgage banking income

- - 53.2% efficiency ratio, down from 54.1%

- - Improved credit quality and maintained a strong allowance for loan losses


                                       3
<PAGE>

      - 0.88% in net charge-offs, excluding net charge-offs on exited
        portfolios, down from 0.97% - $2.3 million decline in non-performing
        assets and continued decline in the inflow of new
        non-performing assets

      - 2.00% allowance for loan losses ratio maintained at June 30

- - Maintained strong capital position

      - 8.41% tangible common equity ratio

      - Repurchased 7.3 million shares, bringing program-to-date repurchases
        to 8.8 million

         Net interest income increased $8.8 million, or 4%, from the first
quarter reflecting a 9 basis point increase in the net interest margin to 4.30%
and a $237 million, or 1%, increase in average earning assets. Average managed
loans grew at a 7% annualized rate during the quarter, but this benefit was
partially offset by a decline in other earning assets, primarily mortgages held
for sale. The increase in the net interest margin was driven by seasonally
higher loan fees and the positive impact of the interest rate environment,
partially offset by the lagged repricing of the variable rate home equity loan
portfolio. Compared with the year-ago quarter, net interest income was up $16.0
million, or 7%, with the net interest margin increasing 27 basis points from
4.03%.

         Average managed loans increased 7% on an annualized basis in the
quarter. Loan generation continued to be positively impacted by strong growth in
residential mortgages and home equity loans and lines of credit. Average
residential mortgages grew $325.1 million, reflecting, in part, a decision to
retain more of these loans on the balance sheet, with home equity loans and
lines of credit up $122.5 million, or at a 17% annualized rate. This reflected
continued strong demand for residential mortgages, refinancing activity, and the
promotion of adjustable mortgage products. Commercial real estate loans
increased $51.8 million, or at a 6% annualized rate, slower than the 16% and 18%
annualized rates of the 2002 first quarter and 2001 fourth quarter,
respectively. These increases were partially offset by declines in other loan
categories reflecting the continued weakness in the economy and certain sectors.
This was especially


                                       4
<PAGE>

noticeable in the $47.5 million, or 3% annualized decline in commercial loans
and $50.6 million, or 3% annualized, decline in auto loans and leases. Compared
with the year-ago quarter, average managed loans were up 5%.

         Average core deposits increased $657.4 million, or at a 19% annualized
rate from the first quarter, reflecting continued strong inflows in interest
bearing and other domestic time deposits. Deposit inflow has been influenced, in
part, by recent turbulence in the financial markets, but also by the success of
our sales and deposit growth programs. Compared with the year-ago quarter,
average core deposits were up 13%.

         Non-interest income before securities gains, and on an operating basis,
was down $0.7 million from the first quarter, reflecting an $8.9 million decline
in mortgage banking income. This decline primarily reflected a 64% decrease in
deliveries to the secondary market from the first quarter's very strong
performance, and to a lesser degree, a decision to retain a higher percentage of
loans on the balance sheet. Excluding mortgage banking, non-interest income was
up $8.2 million, or 9%, from the first quarter reflecting broad-based increases
in other fee income categories including trust income, up $1.2 million, deposit
service charges, up $1.1 million, with other service charges up $1.4 million.
Other income was up $4.4 million from the first quarter reflecting higher
securitization income and a small gain on the sale of an other real estate owned
property. Compared with the year-ago quarter, non-interest income on an
operating basis and excluding securities gains was up 3%, or 11% excluding a 39%
decline in mortgage banking income. Contributing to this year-over-year increase
were an 8% increase in deposit service charges, a 14% increase in brokerage and
insurance income, a 13% increase in trust income, a 20% increase in bank owned
life insurance, with other service charges and other income up 12% and 8%,
respectively.

         Non-interest expense on an operating basis was up $1.1 million, or 1%,
from the first quarter driven by a $0.9 million increase in occupancy and
equipment costs and a $1.0 million increase in professional services. These
increases were partially offset by a $0.7 million decrease in personnel costs,
reflecting in part, a 2% decline in full-time equivalent staff from March 31 to
June 30 due to planned staff reductions, and a $0.5 million decline in outside


                                       5
<PAGE>

services. Compared with the year-ago quarter, operating non-interest expense was
down $2.3 million primarily reflecting a $2.7 million decrease in intangible
amortization due to a reduction in amortization of non-Florida related
intangibles, which was partially offset by increases in outside data processing
costs (10%) and marketing expenses (6%). The second quarter efficiency ratio
improved to 53.2% from 54.1% in the first quarter, and 56.0% in the year-ago
quarter.

         Net charge-offs were $44.9 million in the second quarter and were 0.92%
of average loans. Excluding the impact of net charge-offs on exited portfolios,
net charge-offs represented 0.88% of average loans, down from 0.97% in the first
quarter. The over 30-day delinquency ratio for consumer loans decreased from
2.36% at the end of the first quarter to 2.26% at the end of the second quarter.

         Loan loss provision expense in the second quarter was $53.9 million,
exceeding net charge-offs by $9.0 million. The June 30, 2002 allowance for loan
losses as a percent of period-end loans was maintained at 2.00%, but was
significantly higher than 1.76% at the end of the year-ago second quarter.

         on-performing assets at June 30, 2002, were $223.2 million, or 1.14% of
period-end loans and other real estate owned, down slightly from $225.5 million,
or 1.17%, at March 31, 2002. The inflow of new non-performing assets declined to
$73.0 million in the second quarter. Non-performing assets continue to be
concentrated in the manufacturing and services sectors reflecting weakness in
Midwest manufacturing.

         At June 30, 2002, the tangible equity to assets ratio was 8.41%, down
from 9.03% at March 31, 2002 reflecting the impact of the company's share
repurchase program.


                                       6
<PAGE>

2002 OUTLOOK

         "Given our solid momentum through the first half of the year and
continuing positive trends, we remain comfortable with our previously stated
2002 earnings per share guidance of $1.32-$1.36," Hoaglin said."


CONFERENCE CALL / WEBCAST INFORMATION

         Huntington's senior management will host an earnings conference call
the same day at 2:00 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)
782-3741. Slides will be available at www.huntington-ir.com just prior to 2:00
p.m. ET on July 18, 2002 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 July 30, 2002 at
(800) 642-1687; conference ID 4798848.

         The supplemental financial tables as well as the slides for the
conference call will be filed, along with management's comments, with the
Securities and Exchange Commission on Form 8-K.


ABOUT HUNTINGTON

         Huntington Bancshares Incorporated is a $25 billion regional bank
holding company headquartered in Columbus, Ohio. Through its affiliated
companies, Huntington has more than 136 years of serving the financial needs of
its customers. Huntington provides innovative retail and commercial financial
products and services through more than 300 regional banking offices in Indiana,
Kentucky, Michigan, Ohio and West Virginia. Huntington also offers retail and
commercial financial services online at www.huntington.com; through its
technologically advanced, 24-hour telephone bank; and through its network of
more than 900 ATMs. Selected financial service activities are also conducted in
other states including: Dealer Sales offices in Florida, Tennessee, Pennsylvania
and Arizona; Private Financial Group offices in Florida; and Mortgage Banking
offices in Florida, Maryland and New Jersey. International banking services are
made available through the headquarters office in Columbus and additional
offices located in the Cayman Islands and Hong Kong.


FORWARD-LOOKING STATEMENT

         This press release contains certain forward-looking statements,
including certain plans, expectations, goals, and projections, which are subject
to numerous assumptions, risks, and uncertainties. A number of factors,
including but not limited to those set forth under the heading "Business Risks"
included in Item 1 of Huntington's Annual Report on Form 10-K for the year ended
December 31, 2001, and other factors described from time to time in Huntington's
other filings with the Securities and Exchange Commission, could cause actual
conditions, events, or results to differ significantly from those described in
the forward-looking statements. All forward-looking statements included in this
news release are based on information available at the time of the release.
Huntington assumes no obligation to update any forward-looking statement.

                                       ###


                                       7
<PAGE>

                       HUNTINGTON BANCSHARES INCORPORATED
                       CONSOLIDATED RESULTS OF OPERATIONS

<TABLE>
<CAPTION>
                                                             THREE MONTHS ENDED JUNE 30, 2002
- -------------------------------------------------------------------------------------------------------------------------
                                                                           Restructuring
(in thousands, except per                             Reported               and Other           Florida          Operating
   share amounts)                                     Earnings                 Items            Items (1)          Earnings
- -------------------------------------------------------------------------------------------------------------------------
<S>                                                     <C>                    <C>               <C>            <C>

   Net Interest Income                                  $ 241,859              $ ---             $ ---          $241,859
   Provision for Loan Losses                               53,892                ---               ---            53,892
   Securities Gains                                           966                ---               ---               966
   Non-Interest Income                                    117,014                ---             2,710           114,304
   Gain on Sale of Florida Operations                         ---                ---               ---               ---
   Non-Interest Expense                                   192,060                ---             1,875           190,185
   Special Charges                                            ---                ---               ---               ---
- -------------------------------------------------------------------------------------------------------------------------
   Income (Loss) Before Income Taxes                      113,887                ---               835           113,052
   Income Taxes                                            31,647                ---               303            31,344
- -------------------------------------------------------------------------------------------------------------------------
   NET INCOME (LOSS)                                     $ 82,240              $ ---             $ 532          $ 81,708
- -------------------------------------------------------------------------------------------------------------------------

   NET INCOME PER COMMON
      SHARE -- DILUTED                                      $0.33              $0.00             $0.00             $0.33
- -------------------------------------------------------------------------------------------------------------------------


<CAPTION>
                                                                           SIX MONTHS ENDED JUNE 30, 2002
- -----------------------------------------------------------------------------------------------------------------------
                                                                          Restructuring
(in thousands, except per                             Reported              and Other          Florida       Operating
   share amounts)                                      Earnings             Items (2)          Items (1)     Earnings
- -----------------------------------------------------------------------------------------------------------------------
<S>                                                  <C>                     <C>            <C>               <C>

   Net Interest Income                               $ 484,684               $ ---          $ 9,724           $474,960
   Provision for Loan Losses                           109,673                 ---            5,186            104,487
   Securities Gains                                      1,423                 ---              ---              1,423
   Non-Interest Income                                 242,641                 ---           13,343            229,298
   Gain on Sale of Florida Operations                  175,344             175,344              ---                ---
   Non-Interest Expense                                399,446                 ---           20,210            379,236
   Special Charges                                      56,184              56,184              ---                ---
- -----------------------------------------------------------------------------------------------------------------------
   Income (Loss) Before Income Taxes                   338,789             119,160           (2,329)           221,958
   Income Taxes                                        158,822              98,889             (804)            60,737
- -----------------------------------------------------------------------------------------------------------------------
   NET INCOME (LOSS)                                 $ 179,967            $ 20,271         $ (1,525)          $161,221
- -----------------------------------------------------------------------------------------------------------------------

   NET INCOME PER COMMON
      SHARE -- DILUTED                                   $0.72               $0.08           ($0.01)             $0.65
- -----------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                                                             Three Months Ended June 30, 2001
- -------------------------------------------------------------------------------------------------------------------------
                                                                           Restructuring
(in thousands, except per                             Reported               and Other        Florida          Operating
   share amounts)                                     Earnings               Items (2)        Items (1)         Earnings
- -------------------------------------------------------------------------------------------------------------------------
<S>                                                     <C>                    <C>            <C>               <C>
   Net Interest Income                                  $ 248,033              $ ---          $ 22,150          $225,883
   Provision for Loan Losses                              117,495             71,718             3,840            41,937
   Securities (Losses) Gains                               (2,503)            (5,250)              ---             2,747
   Non-Interest Income                                    130,706                ---            19,845           110,861
   Non-Interest Expense                                   233,296                ---            40,853           192,443
   Special Charges                                         33,997             33,997               ---               ---
- -------------------------------------------------------------------------------------------------------------------------
   (Loss) Income Before Income Taxes                       (8,552)          (110,965)           (2,698)          105,111
   Income Taxes                                           (10,929)           (38,838)           (1,600)           29,509
- -------------------------------------------------------------------------------------------------------------------------
   NET INCOME (LOSS)                                      $ 2,377          $ (72,127)         $ (1,098)         $ 75,602
- -------------------------------------------------------------------------------------------------------------------------

   NET INCOME PER COMMON
      SHARE -- DILUTED                                      $0.01             ($0.29)            $0.00             $0.30
- -------------------------------------------------------------------------------------------------------------------------

<CAPTION>
                                                                    Six Months Ended June 30, 2001
- -----------------------------------------------------------------------------------------------------------------------
                                                                         Restructuring
(in thousands, except per                            Reported             and Other         Florida          Operating
   share amounts)                                    Earnings              Items (2)        Items (1)         Earnings
- -----------------------------------------------------------------------------------------------------------------------
<S>                                                  <C>                     <C>           <C>                <C>
   Net Interest Income                               $ 491,157               $ ---         $ 43,256           $447,901
   Provision for Loan Losses                           150,959              71,718            7,595             71,646
   Securities (Losses) Gains                              (425)             (5,250)             ---              4,825
   Non-Interest Income                                 246,352                 ---           38,918            207,434
   Non-Interest Expense                                467,386                 ---           81,126            386,260
   Special Charges                                      33,997              33,997              ---                ---
- -----------------------------------------------------------------------------------------------------------------------
   (Loss) Income Before Income Taxes                    84,742            (110,965)          (6,547)           202,254
   Income Taxes                                         14,499             (38,838)          (1,860)            55,197
- -----------------------------------------------------------------------------------------------------------------------
   NET INCOME (LOSS)                                  $ 70,243           $ (72,127)        $ (4,687)          $147,057
- -----------------------------------------------------------------------------------------------------------------------

   NET INCOME PER COMMON
      SHARE -- DILUTED                                   $0.28              ($0.29)          ($0.01)             $0.58
- -----------------------------------------------------------------------------------------------------------------------
</TABLE>

(1) Includes the impact of J. Rolfe Davis Insurance Agency, sold July 2002.
(2) Includes charges related to Huntington's strategic refocusing plan and the
    gain on sale of Florida operations.

                                        8
<PAGE>

                       HUNTINGTON BANCSHARES INCORPORATED
                                 Key Statistics
                                 Reported Basis

<TABLE>
<CAPTION>
                                                                                                 PERCENT CHANGE VS.
                                                                                                 ----------------
(in thousands, except per share amounts)             2Q02            1Q02             2Q01        1Q02      2Q01
- ---------------------------------------------------------------------------------------------  ------------------
<S>                                            <C>              <C>              <C>              <C>      <C>
Net Interest Income                            $    241,859     $    242,825     $    248,033     (0.4)%    (2.5)%
Provision for Loan Losses                            53,892           55,781          117,495     (3.4)    (54.1)
Securities Gains (Losses)                               966              457           (2,503)    N.M.      N.M.
Non-Interest Income                                 117,014          125,627          130,706      (6.9)   (10.5)
Gain on Sale of Florida Operations                     --            175,344             --      (100.0)    --
Non-Interest Expense                                192,060          207,386          233,296      (7.4)   (17.7)
Special Charges                                        --             56,184           33,997    (100.0)  (100.0)
- ---------------------------------------------------------------------------------------------  ------------------
Income (Loss) Before Income Taxes                   113,887          224,902           (8,552)   (49.4)     N.M.
Income Taxes                                         31,647          127,175          (10,929)   (75.1)     N.M.
- ---------------------------------------------------------------------------------------------  ------------------
NET INCOME                                     $     82,240     $     97,727     $      2,377    (15.8)%    N.M.%
- ---------------------------------------------------------------------------------------------  ------------------

Net Income per common share - diluted          $       0.33     $       0.39     $       0.01    (15.4)%     N.M.%
Cash dividends declared per common share       $       0.16     $       0.16     $       0.20       -- %   (20.0)%
Book value per common share at end of period   $       9.68     $       9.74     $       9.37     (0.6)%      3.3%

Average common shares - basic                       246,106          250,749          251,024     (1.9)%    (2.0)%
Average common shares - diluted                     247,867          251,953          251,448     (1.6)%    (1.4)%

Return on average assets                               1.32 %           1.49 %           0.03 %
Return on average shareholders' equity                 14.1 %           16.7 %            0.4 %
Net interest margin                                    4.30 %           4.14 %           3.97 %
Efficiency ratio                                       53.3 %           55.7 %           58.6 %

Average loans                                  $ 19,530,489     $ 20,472,192     $ 21,021,057     (4.6)%    (7.1)%
Average loans - managed (1)                    $ 20,700,079     $ 21,676,613     $ 22,335,492     (4.5)%    (7.3)%
Average loans - managed - linked quarter
     annualized growth rate (1)                       (18.1)%          (19.1)%            5.0 %
Average earning assets                         $ 22,638,248     $ 23,768,027     $ 25,147,463     (4.8)%   (10.0)%
Average core deposits (2)                      $ 14,684,719     $ 16,300,959     $ 17,316,651     (9.9)%   (15.2)%
Average core deposits - linked quarter
     annualized growth rate (2)                       (39.8)%          (43.0)%            1.2 %
Average total assets - reported                $ 24,957,208     $ 26,544,413     $ 28,348,645     (6.0)%   (12.0)%
Average shareholders' equity                   $  2,342,963     $  2,369,808     $  2,403,418     (1.1)%    (2.5)%

Total assets at end of period                  $ 25,381,416     $ 24,745,954     $ 27,948,150      2.6 %    (9.2)%
Total shareholders' equity at end of period    $  2,351,860     $  2,433,938     $  2,353,522     (3.4)%    (0.1)%

Net charge-offs (NCOs)                         $     44,900     $     55,781     $     65,465    (19.5)%   (31.4)%
NCOs as a % of average loans                           0.92 %           1.11 %           1.25 %
NCOs - excluding exited businesses             $     42,515     $     52,033     $     38,083    (18.3)%    11.6 %
NCOs as a % of average loans - excluding
     exited businesses                                 0.88 %           1.04 %           0.73 %
Non-performing loans (NPLs)                    $    212,091     $    219,418     $    156,072     (3.3)%    35.9 %
Non-performing assets (NPAs)                   $    223,237     $    225,530     $    165,985     (1.0)%    34.5 %
NPAs as a % of total loans and other
     real estate (OREO)                                1.14 %           1.17 %           0.79 %
Allowance for loan losses (ALL) as a % of
     of total loans at the end of period               2.00 %           2.00 %           1.67 %
ALL as a % of NPLs                                    185.3 %          175.9 %          225.7 %
ALL and OREO as a % of NPAs                           175.7 %          170.9 %          211.2 %

Tier 1 risk-based capital (3) (4)                      9.72 %          10.26 %           7.01 %
Total risk-based capital (3) (4)                      12.75 %          13.40 %          10.20 %
Tier 1 leverage (3) (4)                                9.94 %           9.72 %           6.96 %
Average equity / assets                                9.39 %           8.93 %           8.48 %
Tangible equity / assets (4)                           8.41 %           9.03 %           5.97 %
</TABLE>


(1) Includes securitized indirect auto loans.
(2) Includes non-interest bearing and interest bearing demand deposits, savings
    deposits, CDs under $100,000 and IRA deposits.
(3) Estimated.
(4) At end of period.
N.M. - Not Meaningful.


                                      9
<PAGE>
                       HUNTINGTON BANCSHARES INCORPORATED
                                 Key Statistics
                               Operating Basis (1)


<TABLE>
<CAPTION>
                                                                                             PERCENT CHANGE VS.
                                                                                            -------------------
(in thousands, except per share amounts)          2Q02         1Q02            2Q01          1Q02         2Q01
- ----------------------------------------------------------------------------------------  ---------------------
<S>                                         <C>            <C>            <C>                 <C>        <C>
Net Interest Income                         $   241,859    $   233,101    $   225,883         3.8%       7.1%
Provision for Loan Losses                        53,892         50,595         41,937         6.5       28.5
Securities Gains                                    966            457          2,747         N.M.     (64.8)
Non-Interest Income                             114,304        114,994        110,861        (0.6)       3.1
Non-Interest Expense                            190,185        189,051        192,443         0.6       (1.2)
- ----------------------------------------------------------------------------------------  ---------------------
Income Before Income Taxes                      113,052        108,906        105,111         3.8        7.6
Income Taxes                                     31,344         29,393         29,509         6.6        6.2
- ----------------------------------------------------------------------------------------  ---------------------
NET INCOME                                  $    81,708    $    79,513    $    75,602         2.8%       8.1%
- ----------------------------------------------------------------------------------------  ---------------------

Net Income per common share - diluted       $      0.33    $      0.32    $      0.30         3.1%      10.0%

Return on average assets                           1.31%          1.30%          1.20%
Return on average shareholders' equity             14.0%          13.6%          12.6%
Net interest margin                                4.30%          4.21%          4.03%
Efficiency ratio                                   53.2%          54.1%          56.0%

Average loans                               $19,530,489    $19,104,434    $18,525,959         2.1%       5.7%
Average loans - managed (2)                 $20,700,079    $20,308,855    $19,840,394         1.8%       4.6%
Average loans - managed - linked quarter
     annualized growth rate                         7.4%           5.1%           3.2%
Average earning assets                      $22,638,248    $22,401,271    $22,652,365         1.1%      (0.1)%
Average core deposits (3)                   $14,684,719    $14,027,333    $13,042,417         4.7%      12.6%
Average core deposits - linked quarter
     annualized growth rate (3)                    18.8%           5.9%           2.1%
Average total assets - reported             $24,957,208    $24,780,354    $25,192,890         0.7%      (0.9)%
Average shareholders' equity                $ 2,342,963    $ 2,369,808    $ 2,403,418        (1.1)%     (2.5)%

Net charge-offs (NCOs)                      $    44,900    $    49,276    $    61,712        (8.9)%    (27.2)%
NCOs as a %  of average loans                      0.92%          1.05%          1.33%
NCOs - excluding exited businesses          $    42,515    $    45,528    $    34,330        (6.6)%     23.8%
NCOs as a %  of average loans - excluding
     exited businesses                                                           0.88%        0.97%      0.74%
Non-performing loans (NPLs)                 $   212,091    $   219,418    $   146,987        (3.3)%     44.3%
Non-performing assets (NPAs)                $   223,237    $   225,530    $   156,900        (1.0)%     42.3%
NPAs as a %  of total loans and other
     real estate (OREO)                            1.14%          1.17%          0.85%
Allowance for loan losses (ALL) as a %
     of total loans at the end of period           2.00%          2.00%          1.76%
ALL as a %  of NPLs                               185.3%         175.9%         222.1%
ALL and OREO as a%  of NPAs                       175.7%         170.9%         207.1%
</TABLE>





(1)      Reported basis adjusted to exclude the restructuring and other charges
         and the results of operations and impact of the sale of the Florida
         operations.
(2)      Includes securitized indirect auto loans.
(3)      Includes non-interest bearing and interest bearing demand deposits,
         savings deposits, CDs under $100,000 and IRA deposits.

N.M. - Not Meaningful.




                                     10

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>4
<FILENAME>l95502aexv99w2.txt
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
<PAGE>
                                                                    Exhibit 99.2



                             HUNTINGTON BANCSHARES
                              2ND QUARTER EARNINGS
                               LEADER, JAY GOULD
                                  ID# 4798848
                                    07/18/02











                      DATE OF TRANSCRIPTION: JULY 21, 2002

<PAGE>

HUNTINGTON BANCSHARES
ID# 4798848                                                             PAGE 2

Operator:                  Good afternoon. My name is Cory, and I will be your
                           conference facilitator. At this time I would like to
                           welcome everyone to the Huntington second quarter
                           earnings conference call. All lines have been placed
                           on mute to prevent any background noise. After the
                           speaker's remarks there will be a question and answer
                           period. If you would like to ask a question during
                           this time, simply press star, then the number one on
                           your telephone keypad. If you would like to withdraw
                           your question, press star, then the number two on
                           your telephone keypad. Thank you, ladies and
                           gentlemen. I would now like to turn the conference
                           over to Mr. Jay Gould, Senior Vice President of
                           Investor Relations. Mr. Gould, you may begin your
                           conference.

Jay Gould:                 Thank you, Cory, and welcome to today's conference
                           call, everybody. I'm Jay Gould, Director of Investor
                           Relations. Before formal remarks, the usual
                           housekeeping items. Copies of the slides we will be
                           reviewing can be found on our website,
                           huntington-ir.com. This call is being recorded and
                           will be available as a rebroadcast starting later
                           this evening through the end of this month. Please
                           call the investor relations department at
                           614-480-5676 for more information on how to access
                           these recordings or playbacks or should you have
                           difficulty getting a copy of the slides.

                           Today's discussion, including the Q&A period, may
                           contain forward-looking statements as defined by the
                           Private Securities Litigation Reform Act of 1995.
                           Such statements are based on information and
                           assumptions available at this time and are subject to
                           change, risks, and uncertainties, which may cause
                           actual results to differ materially. We assume no
                           obligation to update such statements. For a complete
                           discussion of risks and uncertainties, please refer
                           to slide 32 and material filed with the SEC including
                           our most recent 10-K, 10-Q, and 8-K filings. Let's
                           begin.

                           Participating in today's call will be Tom Hoaglin,
                           Chairman, President, and CEO; and Mike McMennamin,
                           Vice Chairman and Chief Financial Officer.

                           Turning to slide three, this defines the basis for
                           today's discussion, which has changed from last
                           quarter. With last quarter's major restructuring
                           initiative, reported results have included a number
                           of

<PAGE>

HUNTINGTON BANCSHARES
ID# 4798848                                                             PAGE 3


                           nonrecurring items. Therefore, for analytical
                           purposes, when previously discussing underlying
                           trends with analysts and investors, we referred to
                           operating results, which excluded the impact of these
                           items.

                           However, with the 2002 first quarter sale of our
                           Florida retail and commercial banking business, and
                           given their material impact on many historical
                           numbers, beginning this quarter we are redefining
                           operating results to now also exclude the run rate
                           impact of those sold operations from prior period's
                           results. Doing this makes underlying performance
                           trends more clear. So whenever we refer to operating
                           results today, it now represents reported results
                           adjusted to exclude the impact of restructuring and
                           other charges and on-time items plus the run rate
                           impact of the sold Florida operations.

                           Please note that we have provided an appendix B to
                           the slides today which repeats selected tables and
                           charts from the first quarter conference call for
                           those wishing to see the impact of this definitional
                           change in operating results from last quarter to
                           this. If you do this comparison, you should know that
                           this quarter, as we were finalizing the historical
                           restatement to exclude the Florida run rate impact,
                           the methodology of calculating the impact on net
                           interest income was refined. As such, there are very
                           slight changes to the net interest income, margin,
                           net income, and charge off numbers presented in last
                           quarter's data, which excluded Florida. There was no
                           EPS impact.

                           We continue to report numbers on a "reported" or GAAP
                           basis, which makes no such adjustments. These you
                           will find in great detail within our earnings press
                           release and quarterly financial review materials
                           available on our website, huntington.com.

                           Today's presentation will take about 35 minutes. We
                           want to get started. Tom, let's turn it over to you.

Tom Hoaglin:               Thank you, Jay. Welcome, everyone. Thanks for joining
                           us today.

                           Before getting into a review of the quarter, there
                           are two recent developments I'd like to cover, as
                           some of you may have questions


<PAGE>

HUNTINGTON BANCSHARES
ID# 4798848                                                             PAGE 4

                           later about this. First, on July the second we sold
                           our Orlando, Florida based property and casualty
                           insurance company, J. Rolfe Davis, back to its
                           management team. This sale was consistent with our
                           earlier decision to sell our core banking operations.
                           There will be no material gain or loss impact on
                           third quarter results as a result of the sale. There
                           will also not be a material net income impact going
                           forward on earnings. We remain committed to growing
                           the insurance business within our geographic
                           footprint.

                           The second item was this morning's announcement
                           regarding the restructuring of our ownership interest
                           in Huntington Merchant Services, our merchant
                           processing business. This also is consistent with our
                           Florida sales strategy. In essence, we sold our
                           Florida merchant processing operations to First Data
                           and restructured the overall relationship. Huntington
                           lowered its equity position in the business and
                           extended our relationship with First Data for ten
                           years. This will result in a third quarter gain of
                           about $25 million pre-tax, 16 million after tax or
                           $.06 per share.

                           This also assured that our merchant clients and the
                           merchant services business we have targeted for
                           growth within our footprint will continue to receive
                           the highest level of service and attention. Going
                           forward there will not be a material run rate impact
                           on earnings as a result of this transaction.

                           Now let's turn to slide five and begin the second
                           quarter review.

                           As we have done before, I will begin with a quick
                           review of second quarter accomplishments from my
                           perspective. Mike and Jay will follow with more
                           detailed comments.

                           We are very pleased with second quarter results for a
                           number of reasons. Second quarter earnings were a
                           solid $.33 per share and, again, met Street
                           expectations. Managed loans increased at a 7%
                           annualized rate, up from 5% growth in the first
                           quarter. We are very pleased with this loan growth
                           given the state of loan demand in today's market.
                           Residential real estate and home equity loan growth
                           were particularly strong. Not surprisingly,
                           commercial and auto loans and leases continue to
                           decline. Mike will give details later.


<PAGE>

HUNTINGTON BANCSHARES
ID# 4798848                                                             PAGE 5

                                    The 19% annualized growth in deposits was a
                                    real positive. We are continuing to make
                                    good progress and growing deposits through
                                    our sales initiatives and deposit programs,
                                    but our growth, like other banks, is also
                                    being positively influenced by the current
                                    turbulent financial markets. We are very
                                    pleased that core deposits are up 13% over
                                    the last year.

                                    Total credit quality trends improved during
                                    the quarter driven by a significant
                                    improvement in consumer net charge offs,
                                    partially offset by higher commercial charge
                                    offs. We maintained the loan loss reserve at
                                    2% for the quarter. We have built this loan
                                    loss reserve from about 1.5% over a year
                                    ago, reflecting the weakness in the economic
                                    environment and the deterioration in the
                                    credit quality of our loan portfolios.

                                    The level of a loss reserve is a reflection
                                    of the quality of the loan portfolios at a
                                    point in time, the level of nonperforming
                                    assets, and the expectation regarding the
                                    economic outlook and its impact on future
                                    credit quality trends. We are very
                                    comfortable with the adequacy of the
                                    reserve.

                                    Turning to slide six, there were also
                                    several other meaningful accomplishments.
                                    First, we strengthened the management team
                                    with the addition of Mary Navarro to head
                                    retail banking. Mary is an absolutely
                                    terrific banker and has a wealth of
                                    knowledge and experience in retail and small
                                    business banking, especially within
                                    Huntington's Midwest markets. She is a great
                                    and enthusiastic leader and a wonderful
                                    addition to the team.

                                    One product our business customers are
                                    seeking, and Huntington did not have, was a
                                    fully functional and user-friendly 401-K
                                    capability. That's why we're very pleased to
                                    have launched a new state of the art 401-K
                                    platform and system. We believe so much in
                                    this program, this quarter we converted
                                    Huntington's employee 401-K to it. The
                                    conversion was very smooth and was completed
                                    well ahead of schedule. More important,
                                    customer reception has been terrific. We've
                                    already signed up 28 new accounts.

                                    Another major accomplishment during the
                                    quarter was the

<PAGE>

HUNTINGTON BANCSHARES
ID# 4798848                                                             PAGE 6


                                    completed installation of our Customer
                                    Service System, or CSS. As we told you last
                                    quarter, CSS is branch infrastructure, state
                                    of the art, Windows and Internet based
                                    platform upon which we can enhance and
                                    upgrade many of our systems. It already
                                    provides our personal bankers faster access
                                    to customer information, on-line access to
                                    images of checks and deposits, provides
                                    customers with hands on demonstration of
                                    huntington.com, and speeds customer problem
                                    resolution by providing quick access to
                                    corporate information policies and
                                    procedures.

                                    We've also installed a new and enhanced
                                    on-line teller system in 13% of our branches
                                    and plan to have it in all the branches by
                                    year end. This will replace a 20 year old
                                    terminal system we've used in 70% of our
                                    offices with the remaining 30% using manual
                                    calculators. This new teller system
                                    automates many manual functions and provides
                                    more information about the total customer
                                    relationship. It's already helping to reduce
                                    fraud losses by validating the MICR encoding
                                    on checks, which identifies counterfeits. It
                                    will help reduce operating losses through
                                    automated teller balancing and notification
                                    of cash exception conditions.

                                    Lastly, we repurchased 7.3 million shares of
                                    our stock to bring our program to date
                                    repurchases to 8.8 million shares.

                                    With those introductory remarks, let me turn
                                    the presentation over to Mike to provide the
                                    details. Mike.

Mike McMennamin:                    Thanks, Tom. Slide eight provides a quick
                                    overview of our performance highlights. And,
                                    as Jay mentioned, all of the following
                                    slides are on the new operating basis, which
                                    for all prior periods excludes restructuring
                                    and other items and the run rate of the sold
                                    Florida banking operations.

                                    I'll cover these issues in detail in later
                                    slides, but the highlights compared with
                                    first quarter results include net income of
                                    $81.7 million, $.33 a share, both up 3%; as
                                    Tom mentioned, the annualized growth rate in
                                    managed loans and core deposits of 7 and 19
                                    percent respectively; a 4.30% net interest
                                    margin, up 9 basis points; 53.2% efficiency
                                    ratio, down from 54.1%; 88 basis points


<PAGE>

HUNTINGTON BANCSHARES
ID# 4798848                                                             PAGE 7

                                    of net charge offs excluding exited
                                    portfolios, down 9 basis points. We
                                    maintained the 2.00% loan loss reserve
                                    ratio. And our tangible common equity ratio
                                    was 8.41%.

                                    Turning to slide 9, this slide reconciles
                                    reported versus operating earnings with only
                                    one small adjustment, the sale of the J.
                                    Rolfe Davis Insurance Agency that Tom
                                    mentioned. As noted, it had only a small
                                    impact on net income and no impact on
                                    earnings per share. However, the sale does
                                    impact non-interest income and expense
                                    comparisons, primarily in a brokerage and
                                    insurance fee income line and the personnel
                                    cost line item.

                                    Slide 10 shows performance highlights for
                                    the second quarter compared with the first
                                    quarter and the year-ago quarter. I'll
                                    comment in detail on most of these later, so
                                    just a couple of observations. First, return
                                    on assets and return on equity, while still
                                    below acceptable levels, continue to move
                                    upward. The improved return on equity versus
                                    a year ago is in spite of a lower leveraged
                                    capital structure. Second, the reduction in
                                    our tangible common equity to asset ratio
                                    was expected and is related to our share
                                    repurchase activity.

                                    Slide 11 compares the operating results for
                                    the second, first, and year-ago quarters.
                                    The increase in net income from the first
                                    quarter was driven by a 2% increase in
                                    revenue or up 5%, excluding mortgage banking
                                    income. Net interest income increased $8.8
                                    million, partially offset by $3.3 million in
                                    higher provision expense and $1.1 million of
                                    higher non-interest expense. The increase in
                                    net interest income resulted from a 9 basis
                                    point expansion in the net interest margin
                                    to 4.30% and a 1% increase in average
                                    earning assets.

                                    Compared to the year-ago quarter the 8%
                                    increase in net income was driven by a 6%
                                    increase in revenue or 8% excluding mortgage
                                    banking income. The major offset to the
                                    revenue growth was an increase in provision
                                    expense. Non-interest expense was down 1% or
                                    flat if you adjust for the elimination of
                                    the intangible amortization.

                                    I think the important take away for
                                    investors is the strong 5 plus
<PAGE>

HUNTINGTON BANCSHARES
ID# 4798848                                                             PAGE 8

                                    percent spread between revenue growth and
                                    expense growth over the last year. We feel
                                    this is a very solid performance, especially
                                    given the state of the economy and the
                                    instability in the financial markets. We are
                                    particularly pleased with the revenue growth
                                    and the spread between revenue and expense
                                    growth we are achieving in a very difficult
                                    market environment.

                                    Turning to slide 12, the left hand graph
                                    shows the quarterly earnings per share
                                    pattern, which after three flat quarters
                                    moved up slightly. Not quite the type of
                                    increases we'd like to see, but some
                                    progress given the continued high credit
                                    costs. The right hand graph shows the trends
                                    in pre-tax income before provision expense
                                    and excluding security gains. This graph
                                    measures earnings progress before credit
                                    costs, which is perhaps the best metric to
                                    see the underlying progress we're making
                                    outside of the credit area. Pre-tax income
                                    on this basis was $166 million for the
                                    quarter, 4% higher than the first quarter
                                    and 15% higher than a year ago. We're
                                    continuing to build a solid foundation for
                                    future earnings growth.

                                    Slide 13 shows the steady progress we've
                                    made in improving the net interest margin in
                                    the last five quarters. As we've noted in
                                    previous conference calls, this margin
                                    expansion has occurred at the same time
                                    we've been reducing our interest rate
                                    exposure. We continue to be slightly
                                    liability sensitive, and there's further
                                    detail on our interest rate risk position on
                                    slide 35 in appendix A.

                                    The graph on the right hand side shows our
                                    earning asset mix of loans, securities, and
                                    other earning assets. Other earning assets
                                    are primarily mortgaged loans held for
                                    resale, which declined slightly during the
                                    quarter.

                                    Average managed loan growth is highlighted
                                    on slide 14. As a reminder, managed loans
                                    include about $1.2 billion of securitized
                                    auto loans. For those of you familiar with
                                    this table from prior conference calls, note
                                    that beginning this quarter we've
                                    reclassified all of our home equity lines
                                    and home equity loans into one category,
                                    home equity. Previously home equity lines
                                    were shown as a separate category, and home
                                    equity loans were in the installment
                                    category, now labeled other consumer. All
                                    prior period data, including net charge off
                                    data, have also been changed to


<PAGE>

HUNTINGTON BANCSHARES
ID# 4798848                                                             PAGE 9

                                    reflect this recategorization.

                                    In the second quarter average managed loans
                                    increased at an annualized 7% rate from the
                                    first quarter. We're very pleased with this
                                    given the continued environment, difficult
                                    environment in which to grow loans. As we
                                    mentioned in earlier conference calls, we
                                    began to emphasize residential mortgage
                                    loans, primarily the 3/1 and 5/1 ARM
                                    products when the declining interest rates
                                    last fall created very strong mortgage
                                    refinancing activity. That focus continued
                                    in the second quarter with average
                                    residential mortgage balances increasing
                                    $325 million.

                                    Home equity loan and line growth accelerated
                                    significantly to a 17% annualized rate in
                                    the quarter versus 5% in the first quarter.
                                    Line of credit volumes continue to be
                                    positively impacted by the attractiveness of
                                    lower rates, as well as our increased
                                    emphasis on cross selling home equity lines
                                    to our first mortgage customers... while
                                    fixed rate loans continue to be prepaid as a
                                    result of the relatively high rates on these
                                    loans in relationship to current market
                                    rates.

                                    Commercial real estate loans increased at a
                                    6% annualized rate in the second quarter,
                                    declining from the double digit growth rates
                                    of the last three quarters with most of the
                                    activity in construction loans as in
                                    previous quarters. The composition in this
                                    portfolio has changed somewhat over the last
                                    year. Consistent with our market strategy to
                                    emphasize construction lending versus
                                    permanent financing, construction loans have
                                    increased from 30% of the portfolio to 36%
                                    in the last 12 months. Construction loans
                                    provide higher margins, higher fees, and
                                    greater portfolio liquidity.

                                    Owner-occupied loans now constitute 35% of
                                    the portfolio, up from 33% a year ago. These
                                    loans are really C&I loans supported by
                                    operating company cash flows that are
                                    additionally secured by real estate.
                                    Commercial loans declined slightly during
                                    the quarter to 3% rate versus 6% rate of
                                    decline in the first quarter as corporations
                                    continue to be very cautious in their
                                    inventory management, capital spending, and
                                    acquisition programs. Commercial loan demand
                                    has been soft over the last year, reflecting
                                    the weakness and the uncertainty in the
                                    economic


<PAGE>

HUNTINGTON BANCSHARES
ID# 4798848                                                             PAGE 10

                                    environment. Our commercial loans are down
                                    6% from the year-ago quarter.

                                    During this time period we have refined our
                                    commercial relationship strategy to
                                    reemphasize client relationships where we
                                    are or have the opportunity to be the
                                    primary bank and provide other more
                                    profitable non-credit services, such as
                                    treasury management, trust and investment
                                    services, and depository product sales. In
                                    many cases it's difficult to develop these
                                    cross selling opportunities with shared
                                    national credit.

                                    Reflecting that, total loans to shared
                                    national credit declined by about $500
                                    million or 30% from $1.5 billion last June
                                    to $1.0 billion dollars today, which
                                    accounts for the entire decline in our
                                    commercial loan portfolio from a year ago.

                                    Auto loans and leases declined at a 3%
                                    annualized rate during the quarter, as
                                    expected seasonal strength did not occur.
                                    Loan and lease originations did increase
                                    from $700 million in the first quarter to
                                    $790 million in the current... or second
                                    quarter, but were down 17% from about $950
                                    million of originations in the year-ago
                                    quarter. New car originations as a percent
                                    of total loan and lease originations
                                    increased from about 60% to 70% during the
                                    quarter.

                                    The reintroduction of zero percent financing
                                    being offered by the captives is not
                                    expected to have a significant adverse
                                    impact on loan volumes as cash-back
                                    incentives are also being offered in lieu of
                                    the zero percent financing. And in the
                                    higher credit quality, lower rate deals, the
                                    cash back alternative is better for the
                                    customer. Dealers also prefer the cash back
                                    alternative because conventional bank
                                    financing puts more money in their pockets
                                    than does the zero percent financing
                                    package.

                                    Slide 15 shows that we had a 19% annualized
                                    growth rate in core deposit during the
                                    quarter, and that capped a series of strong,
                                    consecutive, quarterly, annualized growth
                                    rates. The annualized growth rate was 6% in
                                    the first quarter, 10% and 14% respectively
                                    in the fourth quarter and third quarters of
                                    last year. Compared with the year-ago
                                    quarter, core deposits are up 13%. Much of
                                    the strong growth is focused in money market
                                    accounts, both retail and small

<PAGE>

HUNTINGTON BANCSHARES
ID# 4798848                                                             PAGE 11

                                    business. Personal demand deposits also
                                    performed strongly, up 12% from the year-ago
                                    quarter. The strong deposit growth is a
                                    function both of the increased focus and
                                    success of our sales management efforts in
                                    the branches and also the turbulence we are
                                    experiencing in the financial markets.

                                    This quarter on page three of our quarterly
                                    financial review, we've added a new table
                                    detailing total deposits by business
                                    segment, including our six banking regions.
                                    Total regional banking deposits at June 30th
                                    were up 13% from a year ago. Importantly,
                                    all six of our banking regions posted low to
                                    mid teen percentage increases.

                                    Slide 16 is new and shows the change in the
                                    average total deposits per branch versus a
                                    year ago. As just mentioned, total deposits
                                    were up 13% from a year ago. As you know,
                                    one of our strategic initiatives was to
                                    consolidate the number of non-Florida
                                    branches. The deposit increase, in addition
                                    to a 10% reduction in the number of
                                    branches, has resulted in a 26% increase in
                                    the average deposits per branch in the last
                                    year. We are considerably more efficient in
                                    the deposit gathering function than we were
                                    a year ago.

                                    Let me now turn the presentation back to Jay
                                    who is going to review non-interest income
                                    and non-interest expenses.

Jay Gould:                          Thank you, Mike. Turning to slide 17, this
                                    looks at the trends in non-interest income,
                                    excluding security gains compared with the
                                    first quarter and year-ago quarter. Compared
                                    with the first quarter, non-interest income
                                    decreased $700,000, not quite 1%. However,
                                    the very strong mortgage banking income in
                                    the first quarter significantly impacts this
                                    comparison. Excluding mortgage banking
                                    income, non-interest income was up 9% from
                                    the first quarter and 11% from the year ago
                                    quarter.

                                    Mortgage banking income was $107 million in
                                    the quarter, down $8.9 million or 45% from
                                    the first quarter and 39% below the year ago
                                    levels. You will recall that first quarter
                                    mortgage banking income was especially
                                    strong as we sold the high level of fourth
                                    quarter origination volume on a lagged basis
                                    into the secondary market. As such,
                                    deliveries to the secondary market in the
                                    second quarter were down 64%, primarily
                                    reflecting a decline from the

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HUNTINGTON BANCSHARES
ID# 4798848                                                             PAGE 12


                                    first quarter's very high level, but also
                                    reflecting a decision to retain more of our
                                    mortgage originations on our own balance
                                    sheet. Closed loan volume was down 10% from
                                    first quarter levels with refinance activity
                                    representing 39% of the volume compared with
                                    60% in the first quarter.

                                    Deposit services charges were up $1.1
                                    million or 3% from the first quarter. The
                                    primary driver of this increase was higher
                                    personal service charges, especially NSF and
                                    overdraft fees. Compared to a year ago,
                                    deposit service charges increased 8%, driven
                                    by higher corporate maintenance fees as
                                    corporate treasurers pay hard-dollar fees
                                    for deposit services rather than maintain
                                    higher demand deposit balances in a low
                                    interest rate environment.

                                    Brokerage and insurance income increased 3%
                                    from the first year quarter reflecting very
                                    strong retail investment sales, the benefit
                                    of which was partially offset by lower
                                    investment banking and insurance fees.
                                    Mutual fund sales volume was $55 million in
                                    the second quarter, up 28% from the first
                                    quarter with annuity sales at $153 million,
                                    up 18%, a new record, and which beat the
                                    earlier record of $129 million last quarter.
                                    Compared with the year-ago quarter,
                                    brokerage and insurance income was up 14%.

                                    Trust income increased $1.2 million or 8%
                                    from the first quarter, mostly reflecting
                                    the first quarter acquisition of Haberer.
                                    You may recall, this is an investment
                                    manager in Cincinnati with $500 million in
                                    assets under management. Corporate trust
                                    income increased 26%, largely due to
                                    seasonality of annual renewal fees and
                                    institutional sales activities. Partially
                                    offsetting these increases was the impact of
                                    declining asset values. Compared with a year
                                    ago, trust income was up 13%, basically
                                    reflecting these same factors.

                                    Other service chargers were up $1.4 million
                                    or 15% from the first quarter, reflecting
                                    increased ATM and debit card fees. Compared
                                    with the second quarter of last year, other
                                    service charges were up 12%. Other income in
                                    the current quarter was up $4.4 million.
                                    This reflected higher securitization income
                                    and a small gain on the sale of an OREO
                                    property, partially offset by lower sales of
                                    customer derivative products.

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HUNTINGTON BANCSHARES
ID# 4798848                                                             PAGE 13

                                    Slide 18 details the change in non-interest
                                    expense and shows that non-interest expense
                                    was up $1.1 million from the first quarter.
                                    Personnel costs, which account for 54% of
                                    total non-interest expense, were down
                                    $700,000 reflecting lower benefit expense as
                                    well as lower staff. Full time equivalent
                                    staff at June 30 was down 168 or 2% from
                                    March 31 reflecting planned staff
                                    reductions. The impact of these declines is
                                    partially offset by higher mutual fund and
                                    annuity sales commissions. Compared with the
                                    year-ago quarter, personnel costs were flat.

                                    Occupancy and equipment expense was up
                                    $900,000 reflecting mostly higher
                                    depreciation associated with technology
                                    investments, including the new intranet
                                    banking platform launched last quarter, the
                                    implementation of our customer service
                                    system, and mainframe infrastructure
                                    improvement. Compared with a year ago,
                                    occupancy and equipment expense was flat.

                                    Other expenses up $1.5 million or 5%,
                                    primarily reflecting a $1 million increase
                                    in professional services are related to
                                    higher collection and legal expenses in our
                                    consumer lending area. Compared with the
                                    year-ago quarter, other expense was down 5%.

                                    Slide 19 shows the trend in our efficiency
                                    ratio, which is continuing to move down from
                                    the peak in the first quarter of last year
                                    and was 53.2% in the second quarter. For
                                    those comments, let me turn the presentation
                                    back to Mike to review credit and capital.

Mike McMennamin:                    Thanks, Jay. Slide 21 provides an overview
                                    of our credit quality trends. First, we saw
                                    a modest decline in nonperforming assets,
                                    which resulted in a slight improvement in
                                    our nonperforming asset ratio to 1.14% of
                                    loans in OREO, roughly unchanged in the last
                                    three quarters. Net charge offs, excluding
                                    losses on the exited portfolios, declined
                                    from 97 basis points to 88 basis points
                                    during the quarter with a substantial
                                    decline in auto loan and lease charge offs
                                    but an increase in our commercial charge
                                    offs. Ninety day plus delinquencies improved
                                    slightly during the quarter and were
                                    basically unchanged from a year ago. I'll
                                    comment on 30 day consumer delinquency
                                    trends in just a minute.


<PAGE>

HUNTINGTON BANCSHARES
ID# 4798848                                                             PAGE 14

                                    The allowance for loan losses was unchanged
                                    at 2.00% and up from 1.76% at the end of the
                                    year ago quarter. With the maintenance of
                                    the reserve percentage and the modest
                                    decline in nonperforming assets, our
                                    nonperforming asset coverage ratio improved
                                    slightly to 176% during the quarter.

                                    Slide 22 shows the recent trends in
                                    nonperforming assets. Our nonperforming
                                    assets were down slightly for the quarter.
                                    The longer-term trend has flattened out over
                                    the last three quarters. The Midwest, with
                                    its concentration in service and
                                    manufacturing sectors continues to be
                                    adversely impacted by the uncertain economic
                                    environment.

                                    Let me provide some additional nonperforming
                                    asset detail on slide 23. This slide was
                                    introduced last quarter and shows the recent
                                    quarterly nonperforming asset activity. As
                                    you can see, the inflow of new nonperforming
                                    assets slowed slightly to $73 million in the
                                    second quarter and has declined
                                    significantly from the $95 million of new
                                    nonperforming assets added in each of the
                                    middle quarters of 2001. The stabilization
                                    and slight decline in nonperforming assets
                                    over the last two quarters is encouraging,
                                    although it's certainly too early to say
                                    there's any clear-cut trend developing.
                                    However, we do expect to see lower
                                    nonperforming assets by year end and into
                                    next year, assuming the economy continues to
                                    improve moderately.

                                    Slide 24 segments the nonperforming assets
                                    by industry sector. The bar chart on the
                                    right shows which sectors have contributed
                                    to the $120 million increase in
                                    nonperforming assets over the last 18 months
                                    with the services and manufacturing sectors
                                    accounting for most of the change.
                                    Nonperforming assets continue to be
                                    concentrated in these two sectors at 30%
                                    each. While loans for the manufacturing
                                    industry represent only 15% of our total
                                    commercial loans, they represent 30% of
                                    nonperforming assets.

                                    Similarly, the service sector represents 25%
                                    of total commercial loans but 30% of
                                    nonperformers. Fourteen percent of the
                                    nonperformers are from the finance,
                                    insurance, and real estate sector, and six
                                    percent are in construction. After that, the
                                    sector
<PAGE>

HUNTINGTON BANCSHARES
ID# 4798848                                                             PAGE 15


                                    contribution falls off very rapidly.

                                    Slide 25 shows net charge offs adjusted to
                                    exclude charge offs from the exited
                                    portfolios. You'll recall from earlier
                                    conference calls, the reserves were
                                    established in the year-ago quarter for two
                                    loan portfolios we were exiting - truck and
                                    equipment, and sub prime auto loans.
                                    Adjusted net charge offs declined from 97 to
                                    88 basis points during the quarter, and this
                                    improvement was more than we had anticipated
                                    three months ago. Commercial net charge offs
                                    increased from 115 to 153 basis points
                                    during the quarter with the manufacturing
                                    and service sectors continuing to produce
                                    the majority of our charge off activity.

                                    Capital intensive manufacturers continue to
                                    be leveraged from an operating perspective
                                    and are experiencing slow or negative
                                    revenue growth. Service related companies in
                                    the computer, entertainment, and health care
                                    businesses represented 54% of our second
                                    quarter losses.

                                    Commercial real estate charge offs declined
                                    from 42 basis points to 22 basis points
                                    reflecting a decline from the high first
                                    quarter charge off rates, which was caused
                                    by one credit. Total consumer net charge
                                    offs dropped from 107 basis points to 75
                                    basis points in the first quarter. This was
                                    driven by a decline in auto loans and leases
                                    where net charge offs declined very sharply
                                    from 1.56% to 1.01%, following the
                                    significant decline in delinquencies that we
                                    experienced in the first quarter. The
                                    increase in residential charge offs during
                                    the quarter to 18 basis points was caused by
                                    the charge off of one loan.

                                    Slide 26 shows the vintage performance of
                                    our indirect auto loan and lease portfolios.
                                    Performance issues of these two portfolios
                                    are very similar. As we've stated before,
                                    loans and leases originated between the
                                    fourth quarter of 1999 and the third quarter
                                    of 2000, which are the top lines on both
                                    graphs, have performed poorly. About 20% of
                                    that volume of originations was underwritten
                                    with FICO scores below 640, which is
                                    typically considered D quality paper.

                                    In contrast, over the last 12 months, less
                                    than 3% of new

<PAGE>

HUNTINGTON BANCSHARES
ID# 4798848                                                             PAGE 16

                                    originations were below this threshold. And
                                    in the first half of 2000, about 1% of total
                                    loans and leases underwritten had FICO
                                    scores below 640. Reflecting this change and
                                    other underwriting changes, the average FICO
                                    scores increased significantly over the last
                                    two years.

                                    We mentioned last quarter that as a rule of
                                    thumb about two-thirds of the expected
                                    losses on auto loans and leases tend to
                                    occur within 24 months of origination. Loans
                                    and leases originated during the late 1999 -
                                    2000 vintage are now 21 to 30 months old and
                                    are at or past their peak of their charge
                                    off cycles. You'll also note that this
                                    quarter we've segmented a new 2002 vintage.
                                    The disproportionate decline in the 2001
                                    vintage, percentage of the total loan
                                    portfolio from 61 to 43 percent for loans on
                                    the left hand chart, as during the quarter,
                                    reflects the sale of the Florida auto loans
                                    to SunTrust in the first quarter.

                                    The good news is that the impact of the high
                                    charge off vintages is rapidly diminishing.
                                    Originations during that time period
                                    represent 20% and 27% of the current loan
                                    and lease portfolios respectively. As such,
                                    these vintages should help to reduce future
                                    charge off rates in auto loans and leases.

                                    Slide 27 provides another look at consumer
                                    delinquency trends on both a 30 plus day
                                    basis and a 90 day basis. The 30 day
                                    delinquency rate is an important early
                                    indicator of future charge off rates as our
                                    well established role rate trends from the
                                    30 day delinquency category into the more
                                    severely delinquent buckets and eventually
                                    charge offs.

                                    The sharp decline in 30 plus day
                                    delinquencies in the first quarter has been
                                    maintained and actually further improved by
                                    10 basis points during the quarter. However,
                                    giving consideration to seasonal patterns,
                                    we do expect delinquencies and ultimately
                                    charge offs to increase slightly in this
                                    portfolio over the next two quarters.

                                    Slide 28 recaps the trend in our loan loss
                                    reserve, which was maintained at 2.00%
                                    during the quarter. Provision expense
                                    exceeded charge offs by $9 million, thus
                                    providing for loan growth

<PAGE>

HUNTINGTON BANCSHARES
ID# 4798848                                                             PAGE 17


                                    for the quarter.

                                    As Tom mentioned, we continue to be very
                                    comfortable with the adequacy of our
                                    reserves, particularly in light of the
                                    following factors: the improvement in
                                    consumer delinquency trends experienced in
                                    the first half and reduced charge offs in
                                    the second quarter; the decline in new
                                    additions to nonperforming assets over the
                                    last two quarters; the composition of recent
                                    loan growth which is heavily weighted
                                    towards low risk residential mortgages; and,
                                    also, tentative evidence that the economy is
                                    improving, albeit at a slow rate.

                                    Let me close my segment with some brief
                                    comments regarding capital. Slide 30 shows
                                    capital trends with first quarter ratios
                                    significantly bolstered by the excess
                                    capital resulting from the February sale of
                                    Florida banking operations. As expected,
                                    share repurchase activity reduced these
                                    capital ratios during the quarter, although
                                    they remain very strong. Assuming continued
                                    share repurchase activity at recent levels,
                                    the tangible common equity to asset ratio at
                                    year end would be in the 7 1/2 to 8 percent
                                    range.

                                    Slide 31 shows the Board approved a 22
                                    million share repurchase program in
                                    February. We initiated activity in the open
                                    market in late February and purchased 1.5
                                    million shares in the first quarter and
                                    another 7.3 million in the second quarter,
                                    bringing the program to date repurchases to
                                    a total of 8.8 million shares. The value of
                                    shares repurchased was $175 million.

                                    As previously stated, our goal is to utilize
                                    our excess capital to repurchase a total of
                                    $300 to $400 million of stock in 2002. We
                                    continue to be disciplined buyers and will
                                    monitor our stock price and earning
                                    valuation versus that of other peer banks as
                                    we make our repurchase decisions.

                                    Let me turn the call back over to Tom for
                                    some closing comments.

Tom Hoaglin:                        Thanks, Mike. In closing, the second quarter
                                    was a good quarter for Huntington. Our
                                    results continued to improve. Revenue is
                                    increasing. We continue to get more out of
                                    our expense dollars. Loans are growing
                                    nicely in a difficult environment. The sale
                                    of

<PAGE>

HUNTINGTON BANCSHARES
ID# 4798848                                                             PAGE 18

                                    deposits, annuity products, and mutual funds
                                    all reflect strong growth. The credit
                                    quality is improving. Our investments in
                                    better technology for our people are
                                    beginning to show results.

                                    In addition, I just finished a series of
                                    meetings with Huntington associates in all
                                    our markets over the last 30 days. I can
                                    report to you that Huntington associates are
                                    excited about what we're beginning to
                                    accomplish together. They're taking great
                                    pride in being part of a Huntington team.
                                    With every new success they're more
                                    motivated and confident. We still have much
                                    to do, but we are making good progress. At
                                    this juncture and against the backdrop of
                                    first half performance, we remain
                                    comfortable with the $1.32 to $1.36 per
                                    share guidance we gave you in January.

                                    This completes our prepared remarks. Mike,
                                    Jay, and I will be happy to take your
                                    questions. Let me turn the meeting back over
                                    to the operator who will provide
                                    instructions on conducting the question and
                                    answer period. Operator.

Operator:                           Thank you, sir. At this time I would like to
                                    remind everyone, if you would like to ask a
                                    question, please press star, then the number
                                    one on your telephone keypad. We'll pause
                                    for just a moment to compile the Q&A roster.

                                    Your first question comes from Mr. John
                                    Balkind with Fox Pitt.

John Balkind:                       Hi, guys.

Male Speaker:                       Hi, John.

Male Speaker:                       Hi, John.

John Balkind:                       Just a quick housekeeping question. Could
                                    you talk a little bit about the variance in
                                    the securitization income in the quarter,
                                    and what was the actual OREO gain?

Mike McMennamin:                    In the first quarter we actually -- we had a
                                    normal level of securitization level in the
                                    second quarter.

John Balkind:                       Okay.

<PAGE>

HUNTINGTON BANCSHARES
ID# 4798848                                                             PAGE 19

Mike McMennamin:                    The increase was because in the first
                                    quarter we actually had an impairment of $2
                                    million in our interest only strip that we
                                    wrote down. So this is just bringing it back
                                    to a normal level. We had a little bit over
                                    a one million dollar gain on the sale of an
                                    OREO property down in Florida that's been
                                    with us for some time. So those two
                                    transactions, John, accounted for a little
                                    bit over $3 million.

John Balkind:                       Sounds good.  Appreciate it, Mike.

Operator:                           Your next question comes from Mr. Ed
                                    Najarian with Merrill Lynch.

Ed Najarian:                        Good afternoon, guys, and congratulations on
                                    a good quarter. Just a quick question on the
                                    credit losses and basically the break out of
                                    the credit losses. Great job, obviously,
                                    reducing the indirect auto losses. Can you
                                    give a little more color on what's driving
                                    up the commercial losses? I know you
                                    outlined, you know, a bit of color there,
                                    but any more insight you can give on what's
                                    driving up the commercial losses and if you
                                    have any insight on when that might peak in
                                    future quarters.

Mike McMennamin:                    Ed, as we mentioned, I think 72% of the
                                    losses in the second quarter were pretty
                                    much the same suspects, manufacturing and
                                    service industry. I know that we are seeing
                                    an adverse impact in the manufacturing
                                    industries and the service industry in the
                                    Midwest, both from the slow down in the auto
                                    business and also the problems in the steel
                                    industry in Northern Ohio. About 50% of the
                                    losses we incurred in the quarter were from
                                    shared national credit.

                                    In terms of when do we expect this to turn
                                    around, I wish I had a crystal ball. I think
                                    as we get towards the back end of the credit
                                    cycle, which we do feel we're not there now,
                                    we're just about there, we're going to try
                                    to push these problem credits through the
                                    pipeline just as quickly as we can. So in a
                                    perverse sense, I'm not sure that the higher
                                    charge offs are not a harbinger of better
                                    things as we go forward. Obviously, what we
                                    need to see in that regard, if we're going
                                    to take that perspective, we do need to see
                                    the


<PAGE>

HUNTINGTON BANCSHARES
ID# 4798848                                                             PAGE 20


                                    declines in the nonperforming assets, and we
                                    are cautiously optimistic that we're about
                                    to see some improvement in those numbers.
                                    They've basically been flat for the last
                                    three quarters.

Ed Najarian:                        So do you think that goes up before it goes
                                    down, or have we reached a peak here, or
                                    don't want to speculate?

Mike McMennamin:                    Well, I really don't know. I would hope that
                                    we've reached a peak with 1.5% losses in the
                                    commercial portfolio. But we just don't know
                                    right now, Ed.

Ed Najarian:                        And I think you mentioned something
                                    regarding, you know, 52% of those losses
                                    were from some kind of -- on the technology
                                    side, or could you give a little more
                                    insight on what you said there?

Mike McMennamin:                    I think we, get my comments, I think we said
                                    that --

Ed Najarian::                       Something about technology services.

Mike McMennamin:                    -- hold on just one sec. Let me get out my
                                    notes. Service -- just companies in the
                                    service industry, they were in -- 54% of our
                                    losses were, in the quarter, were from
                                    companies in the service industry, primarily
                                    in the computer, entertainment, and health
                                    care businesses.

Ed Najarian:                        Okay.  Thanks.

Operator:                           Your next question comes from Mr. Dave
                                    George from A.G. Edwards.

Dave George:                        Good afternoon. I was wondering if you could
                                    comment on your outlook for the margin in
                                    the second half of the year. Thanks.

Mike McMennamin:                    Dave, the margin came in -- it was a great
                                    quarter for us from a margin standpoint, as
                                    I think we mentioned, part of the strength
                                    was just some seasonal loan fees that come
                                    in. I think that the margin probably -- I'd
                                    be very surprised if the margin goes up from
                                    here. I would not be surprised if it went
                                    down a few basis points in the second half
                                    of the year. I think we talked last quarter
                                    when we reported a 421 margin we said there
                                    might be just a little bit of

<PAGE>

HUNTINGTON BANCSHARES
ID# 4798848                                                             PAGE 21

                                    upward pressure on the margin in the near
                                    term. We do not expect to see higher margins
                                    going forward.

Dave George:                        Thanks, Mike.  I appreciate it.

Mike McMennamin:                    Yeah.

Operator:                           We now have a question from Mr. Fred
                                    Cummings of McDonald Investments.

Fred Cummings:                      Yes. Good afternoon. Mike, I think you said,
                                    in reviewing your national shared credit
                                    exposure, could you review the decline
                                    that's occurred year over year in the
                                    portfolio and also talk about where you
                                    expect it to be, say, over the next 12
                                    months?

Mike McMennamin:                    Fred, the shared national credit, and these
                                    are numbers as of June 30th, so unlike the
                                    loan numbers we give, they're not average
                                    numbers during the quarter, but at June 30th
                                    they declined from a little bit less than
                                    $1.5 billion a year ago to just under a $1.0
                                    billion, at June 30th. So they're down about
                                    $460 or $470 million dollars.

                                    We're being a lot more selective as we look
                                    at these credits. If they're credits that
                                    are in our market area that we have
                                    opportunities to provide, either we are or
                                    have opportunities to provide noncredit
                                    services to, we certainly want to be
                                    continuing to loan to those credit worthy
                                    companies. We don't want to just be a
                                    lender, however, and I think that strategy
                                    being a little more assertive on that has
                                    had an impact in terms of the reduction of
                                    those volumes.

Fred Cummings:                      Second question, Mike. Can you comment on
                                    the composition of the inflows into
                                    non-accrual? Are those primarily national
                                    shared credit at the $74 million number I
                                    believe?

Mike McMennamin:                    Fred, I don't think they are. Most of the
                                    credits that have been coming in have
                                    continued to be in the manufacturing and the
                                    services and the financial institutions and
                                    real estate area. To my knowledge they're
                                    not -- they're all relatively small credits,
                                    so it's one manufacturing credit that, with
                                    a $12 million credit, the rest of


<PAGE>

HUNTINGTON BANCSHARES
ID# 4798848                                                             PAGE 22

                                    them were $5 million or below. So they tend
                                    to be the smaller credits for the most part.

Fred Cummings:                      Okay.  Thank you.

Operator:                           Your next question comes from Mr. Steven
                                    Gresdo with Second Curve Capital.

Steven Gresdo:                      Hi, guys.  Good afternoon.  Great quarter.

Male Speaker:                       Thank you.

Male Speaker:                       Thanks, Steven.

Steven Gresdo:                      Just one thing I was looking at here in the
                                    payment pattern you've had in your NPA line
                                    looks great, and it's been increasing at a
                                    pretty good clip. Is there anything we can
                                    read into that that you guys might be doing
                                    specifically, or have there been certain
                                    credits that you've gotten larger payments
                                    on than you might have bought in the past
                                    and why? Thanks.

Mike McMennamin:                    Steve, I think the payment line really
                                    correlates, at least on a loose basis, with
                                    the losses that you've taken. If you look at
                                    that slide and, with that, year-ago quarter
                                    we had $19 million payments, and we took
                                    losses of $13 million. This quarter we had
                                    losses of $28 on nonperformers that were
                                    recognized and $44 million of payments, so
                                    we had -- I think the math works out that
                                    typically you probably expect to lose over a
                                    period of time, maybe a third have losses,
                                    something like a third on your nonperforming
                                    loans. So that implies that for every dollar
                                    in losses you take, maybe you get a couple
                                    dollars of sales or payments that come in at
                                    the same time. But I think it's really just
                                    tied to the greater recognition of losses in
                                    that portfolio.

Steven Gresdo:                      Thanks.

Operator:                           At this time there are no further questions.
                                    Gentlemen, are there any closing remarks?

Jay Gould:                          No. This is Jay. I guess if there are no
                                    further questions, we thank


<PAGE>

HUNTINGTON BANCSHARES
ID# 4798848                                                             PAGE 23

                                    you all for participating in today's call.
                                    We look forward to talking to you. If you
                                    have any further questions, please call
                                    investor relations, either Susan or myself.
                                    Thank you again.

Operator:                           This concludes today's Huntington's second
                                    quarter earnings conference call. You may
                                    now disconnect.

                                    [END OF CALL]



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>5
<FILENAME>l95502aexv99w3.txt
<DESCRIPTION>EXHIBIT 99.3
<TEXT>
<PAGE>
                                                                    Exhibit 99.3


                                     [LOGO]

                                   HUNTINGTON


                         SECOND QUARTER EARNINGS REVIEW

                                 JULY 18, 2002

<PAGE>
                                                                          [LOGO]
MEETING PARTICIPANTS
Tom Hoaglin
- - Chairman, President and Chief Executive Officer

Mike McMennamin
- - Vice Chairman and Chief Financial Officer

Jay Gould
- - Sr. Vice President - Investor Relations

                                                                               2
<PAGE>
                                                                          [LOGO]

BASIS OF PRESENTATION - OPERATING BASIS

REVISED DEFINITION

Reported results for the past five quarters have been significantly impacted by
     a number of items, primarily related to the strategic restructuring
     announced in July 2001 and the subsequent sale of the Florida banking
     operations in the 2002 first quarter. In addition, reported 2002 first
     quarter results included Florida operations for only half the quarter
     versus a full quarter for each prior quarter.

Therefore, to better understand underlying trends, the following slides and
     discussion are on an OPERATING basis, which excludes the effect of these
     items from all prior periods, including the impact of the Florida
     operations.

Please refer to the schedules accompanying the 2002 second quarter earnings
     press release, as well as the 2002 second quarter Quarterly Financial
     Review for schedules reconciling reported with operating earnings and
     additional schedules excluding the impact of the Florida operations.

This presentation basis is the same used in prior quarterly review conference
     calls with the one exception that the impact of the sold Florida banking
     operations are now EXCLUDED. Refer to Appendix B for selected slides using
     the prior operating basis definition.

                                                                               3
<PAGE>
                                                                          [LOGO]

RECENT DEVELOPMENTS

THIRD QUARTER EVENTS

7/02/02 - Sold J. Rolfe Davis Insurance Agency, Inc.
- - Consistent with Florida strategy
- - Terms not disclosed
- - No material financial impact going forward
- - Remain committed to growing insurance business within footprint

7/18/02 - Restructured ownership interest in Huntington Merchant Services, LLC
- - Consistent with Florida strategy
- - Terms not disclosed
- - Estimated $25 million pre-tax ($16 million after tax) gain on sale
- - No material financial impact going forward
- - Remain committed to growing merchant services business within footprint

                                                                               4
<PAGE>
                                                                          [LOGO]

SECOND QUARTER HIGHLIGHTS
Solid financial performance
- -----------------------------------
- - EPS of $0.33 met expectations
- - 7% annualized growth in loans
- - 19% annualized growth in deposits
- - Improved credit quality trends
   - Lower net charge-offs
   - Lower NPAs
- - 2.00% loan loss reserve ratio

                                                                               5
<PAGE>
                                                                          [LOGO]

SECOND QUARTER HIGHLIGHTS

Key Accomplishments
- -------------------
- - Hired Mary Navarro to head Retail Bank
- - Launched new business 401(k) product
- - Completed installation and initial training of the new
  banking office Customer Service System platform
- - Installed new teller technology in 13% of the
  branches completion by year end
- - Repurchased 7.3 million shares 8.8 million shares
  to date
                                                                               6
<PAGE>
                                                                          [LOGO]

FINANCIAL
PERFORMANCE
                                                                               7
<PAGE>
                                                                          [LOGO]
2002 SECOND QUARTER PERFORMANCE HIGHLIGHTS (1)
($MM)

- - Net income                                       $81.7
- - Earnings per share                               $0.33
- - Managed loan growth                                  7%annualized
- - Core deposit growth                                 19%annualized
- - Net interest margin                               4.30%
- - Efficiency ratio                                  53.2%
- - Net charge-offs - adjusted (2)                    0.88%
- - NPAs                                            $223.2
- - Loan loss reserve / loans                         2.00%
- - Tangible common equity ratio                      8.41%


(1) Excludes impact of Florida banking operations sold in 1Q02 and Florida
    insurance agency sold 7/2/02
(2) Excludes impact of net charge-offs on exited portfolios

                                                                               8
<PAGE>
                                                                          [LOGO]

SECOND QUARTER 2002 EARNINGS

<TABLE>
<CAPTION>
                                            FLORIDA
         ($MM)             REPORTED         OPERATIONS (1)    OPERATING
                           --------         --------------    ---------
<S>                     <C>               <C>               <C>
Net interest income        $ 241.9                            $ 241.9
Provision                    (53.9)                             (53.9)
Non-interest income          117.0            $ 2.7             114.3
Securities gains               1.0                                1.0
Non-interest expense        (192.1)            (1.9)           (190.2)
                           -------           ------            ------
  Pretax income              113.9              0.8             113.1
                           -------           ------            ------
  Net income               $  82.2            $ 0.5            $ 81.7
                           -------           ------            ------
  EPS                      $  0.33           $ 0.00            $ 0.33
                           =======           ======            ======
</TABLE>

(1) J. Rolfe Davis Insurance Agency, Inc.
                                                                               9
<PAGE>
                                                                          [LOGO]

<TABLE>
<CAPTION>

PERFORMANCE HIGHLIGHTS (1)
                                    2Q02      1Q02     2Q01
                                    ----      ----     ----
<S>                                <C>       <C>      <C>
EPS - operating                    $0.33     $0.32    $0.30
ROA                                 1.31%     1.30%    1.20%
ROE                                 14.0      13.6     12.6
Efficiency ratio (2)                53.2      54.1     56.0
NIM                                 4.30      4.21     4.03
Tangible common equity/assets (3)   8.41      9.03     5.97
</TABLE>


(1)  Operating basis - Excludes after tax impact of restructuring and other
     charges of $36.5 MM in 1Q02, $72.1 MM in 2Q01, the $56.8 MM after tax gain
     on the sale of Florida operations in 1Q02, the impact of Florida banking
     operations sold in 1Q02 and Florida insurance agency sold 7/2/02
(2)  Excludes intangible amortization of $0.3 MM in 1Q02 and $0.2 MM in 2Q02
(3)  Period end.

                                                                              10
<PAGE>
                                                                          [LOGO]

2002 SECOND QUARTER EARNINGS (1)
<TABLE>
<CAPTION>
                                                          CHANGE B (W) VS.
                                                     --------------------------
                                                       1Q02         2Q01
                                                                ---------------
         ($MM)             2Q02       1Q02    2Q01     Amt.     Amt.      Pct.
                           ----       ----    ----     ----     ----      ----
<S>                        <C>       <C>     <C>       <C>      <C>        <C>
Net interest income        $241.9    $233.1  $225.9    $ 8.8    $16.0      7.1%
Provision                   (53.9)    (50.6)  (41.9)    (3.3)   (12.0)   (28.5)
Non-interest income         114.3     115.0   110.9     (0.7)     3.4      3.1
Securities gains              1.0       0.5     2.7      0.5     (1.8)   (64.8)
Non-interest expense       (190.2)   (189.1) (192.4)    (1.1)     2.3      1.2
                           ------    ------  ------   ------    -----      ---
  Pretax income             113.1     108.9   105.1      4.1      7.9      7.6
                           ------    ------  ------   ------    -----      ---
  Net income               $ 81.7    $ 79.5  $ 75.6    $ 2.2    $ 6.1      8.1%
                           ======    ======  ======    =====    =====     ====
  EPS                      $ 0.33    $ 0.32  $ 0.30   $ 0.01    $0.03     10.0 %
Revenue (FTE) (2)          $357.2    $349.3  $338.4   $  8.0    $18.9      5.6%
</TABLE>

(1)  Operating basis - Excludes after tax impact of restructuring and other
     charges of $36.5 MM in 1Q02, $72.1 MM in 2Q01, the $56.8 MM after tax gain
     on the sale of Florida operations in 1Q02, the impact of Florida banking
     operations sold in 1Q02 and Florida insurance agency sold 7/2/02

(2)  Calculated assuming a 35% tax rate and excluding securities gains

                                                                              11


<PAGE>
                                                                          [LOGO]

PERFORMANCE TRENDS (1)
                         [GRAPHS]
EARNINGS PER SHARE
- ------------------

         1Q01     2Q01     3Q01     4Q01    1Q02     2Q02
         $0.28    $0.30    $0.32    $0.32   $0.32    $0.33

PRETAX INCOME BEFORE LLP AND
- ----------------------------

   SECURITIES GAINS
   ----------------

($MM)

         1Q01     2Q01     3Q01     4Q01    1Q02     2Q02
         $125     $144     $153     $162    $159     $166

(1)  Operating basis - Excludes after tax impact of restructuring and other
     charges of $36.5 MM in 1Q02, $72.1 MM in 2Q01, the $56.8 MM after tax gain
     on the sale of Florida operations in 1Q02, the impact of Florida banking
     operations sold in 1Q02 and Florida insurance agency sold 7/2/02

                                                                              12


<PAGE>
                                                                          [LOGO]

PERFORMANCE TRENDS (1)
                         [GRAPHS]
NET INTEREST INCOME & Margin (FTE)
- ----------------------------------

($MM)
             1Q01     2Q01     3Q01     4Q01    1Q02     2Q02
Margin       3.99%    4.03%    4.17%    4.26%   4.21%    4.30%
NII          $224     $227     $232     $237    $234     $243


EARNING ASSET MIX (AVG)
- -----------------------

LOANS SECURITIES OTHER EA

             1Q01     2Q01     3Q01     4Q01    1Q02     2Q02
Other EA       5%       2%       2%       2%      2%       1%
Securities    17%      16%      14%      13%     13%      13%
Loans         78%      82%      84%      85%     85%      86%

(1) Excludes impact of Florida banking operations sold in 1Q02

                                                                              13
<PAGE>

MANAGED LOAN GROWTH (1)

AVERAGE   ($B)                      ANNUALIZED GROWTH
- -------                             -----------------
<TABLE>
<CAPTION>

                                            2Q02 vs. 1Q02 vs. 2Q02 vs.
                                    2Q02     1Q02     4Q01     2Q01
                                    ----     ----     ----     ----
<S>                                   <C>       <C>     <C>      <C>
Commercial                          $ 5.6      (3)%     (6) %    (6)%
Commercial real estate                3.7       6       16       15
                                     ----
  Total commercial/CRE                9.3     ---        2        1
                                     ----
Auto loan / lease                     6.9      (3)      (1)       1
Home equity                           2.9      17        5        9
Residential real estate               1.2      75       62       43
Other consumer                        0.4     (10)     (19)     (15)
                                     ----
  Total consumer                     11.4      13        8        7
                                     ----
Managed loans                       $20.7       7 %      5 %      5 %
                                    =====
</TABLE>

(1)  Growth percentages normalized for residential real estate loan
     securitizations and impact of Florida banking operations sold in 1Q02

                                                                              14


<PAGE>
                                                                          [LOGO]

CORE DEPOSIT TRENDS (1)

<TABLE>
<CAPTION>
AVERAGE            ($B)           ANNUALIZED GROWTH
- -------                           -----------------
                                  2Q02 vs.    1Q02 vs.         2Q02 vs.
                           2Q02     1Q02       4Q01              2Q01
                           ----     ----       ----              ----
<S>                      <C>       <C>        <C>                <C>
Demand                   $   2.7     ---%        (12)%              3%
Interest bearing             4.9      51          35               42
Savings                      2.8      (3)         (5)              (6)
CD's                         4.2      12          (3)               7
                           -----
Total                      $14.7      19%          6%              13%
                           =====
</TABLE>

(1)  Growth percentages normalized for impact of Florida banking operations sold
     in 1Q02

                                                                              15
<PAGE>
                                                                          [LOGO]

TOTAL DEPOSITS PER BRANCH (1)
AVERAGE                    ($MM)

<TABLE>
<CAPTION>
                                  June '02         June '01           % Change
                                  --------         --------           --------
<S>                             <C>              <C>                 <C>
Central Ohio / WV                  $62.4            $48.0               30%
N. Ohio                             46.9             36.5               28
W. Michigan                         34.4             25.4               36
E. Michigan                         48.6             43.5               12
Cincinnati / Dayton / KY            34.5             30.9               12
Indiana                             29.0             24.7               18
Total average / branch             $45.7            $36.4               26%
# of branches                        331              369              (10)
</TABLE>

(1)  Excludes deposits attributable to Dealer Sales and PFG lines of business,
     brokered deposits, and negotiable CDs.

                                                                              16

<PAGE>
                                                                          [LOGO]

<TABLE>
<CAPTION>
NON-INTEREST INCOME (1)
      ($MM)                                                     BETTER OR (WORSE) VS.
      -----                                                     ---------------------
                                    2Q02             1Q02              1Q02(2)            2Q01
                                    ----             ----              -------            ----
<S>                               <C>               <C>                <C>               <C>
Deposit service charges           $ 35.4            $ 1.1                 3%                8%
Mortgage banking                    10.7             (8.9)              (45)              (39)
Brokerage / insurance               15.0              0.4                 3                14
Trust income                        16.2              1.2                 8                13
Bank Owned Life Ins.                11.4             (0.2)               (2)               20
Other service charges               10.5              1.4                15                12
Other                               15.0              4.4                42                 8
                                  ------
Total                             $114.3           $ (0.7)               (1)%               3%
                                  ======
Total excl mortgage banking       $103.6            $ 8.2                 9 %              11%
</TABLE>

(1)  Excludes security gains and gain on sale of the Florida banking operations
     in 1Q02 and Florida insurance agency sold 7/2/02

(2)  Linked quarter percentage growth is not annualized.

                                                                              17
<PAGE>

                                                                          [LOGO]


<TABLE>
<CAPTION>
NON-INTEREST EXPENSE (1)
($MM)                                                          BETTER OR (WORSE) VS.
                                                               ---------------------
                                                 2Q02        1Q02         1Q02(2)     2Q01
                                                 ----        ----         -------     ----
<S>                                           <C>         <C>             <C>        <C>
Personnel costs                                 $103.6      $  0.7          1%        --%
Occupancy & equipment                             31.3        (0.9)        (3)        --
Outside services                                  16.6         0.5          3         (10)
Marketing                                          7.2        --           (1)         (6)
Amortization of intangibles                        0.2        --           19          93
Other                                             31.3        (1.5)        (5)          5
                                                ------      ------
  Total                                         $190.2      $ (1.1)        (1)%         1%
                                                ======
</TABLE>


(1)  Excludes pretax impact of restructuring charges and other charges of $56.2
     MM in 1Q02 and $34.0 MM in 2Q01 and Florida insurance agency sold 7/2/02
(2)  Linked quarter percentage growth is not annualized

                                                                              18

<PAGE>
                                                                          [LOGO]

EFFICIENCY RATIO (1)

                     [GRAPH]

1Q01     2Q01     3Q01     4Q01     1Q02    2Q02


59.5%    56.0%    54.0%    52.7%    54.1%   53.2%



(1)  FTE Revenue excluding securities gains and gain on sale of Florida
     operations / non-interest expense excludes intangible amortization and
     restructuring and other charges. Excludes impact of Florida banking
     operations sold in 1Q02 and Florida insurance agency sold 7/2/02

                                                                              19
<PAGE>
                                                                          [LOGO]

CREDIT REVIEW


                                                                              20
<PAGE>
                                                                          [LOGO]

CREDIT QUALITY OVERVIEW (1)

<TABLE>
<CAPTION>
                                     2Q02   1Q02     2Q01
                                     ----   ----     ----
<S>                               <C>     <C>     <C>
NPAs / total loans + OREO           1.14%   1.17%     0.85%
Net charge-offs - adjusted (2)      0.88    0.97      0.74
90+ days past due                   0.30    0.32      0.29
Consumer                            0.41    0.44      0.47
Commercial                          0.15    0.14      0.08
Commercial RE                       0.20    0.26      0.16
Reserve / total loans               2.00    2.00      1.76
Reserve / NPAs                       176     171       207
</TABLE>

(1) Excludes impact of Florida banking operations sold in 1Q02.
(2) Excludes impact of net charge-offs on exited portfolios.


                                                                              21
<PAGE>
                                                                          [LOGO]

NON-PERFORMING ASSET COMPOSITION (1)
($MM)
                     [GRAPH]


               1Q01    2Q01    3Q01    4Q01     1Q02     2Q02

NPA           $117.0  $156.9  $201.2  $219.6   $225.5   $223.2

% Lns + OREO    0.63%   0.85%   1.06%   1.16%   1.17%    1.14%

(1) Excludes impact of Florida banking operations sold in 1Q02.


                                                                              22
<PAGE>
                                                                          [LOGO]

NON-PERFORMING ASSET FLOW ANALYSIS -
REPORTED BASIS(1)

PERIOD END ($MM)
- -----------
<TABLE>
<CAPTION>
                                        2Q02            1Q02            4Q01     3Q01       2Q01
                                        ----            ----            ----     ----       ----
<S>                                    <C>             <C>             <C>      <C>       <C>
NPA beginning of period                $225.5          $227.5          $210.1   $166.0    $124.9
- ------------------------------------------------------------------------------------------------
New NPAs                                 73.0            74.4            86.0     95.0      95.0
- ------------------------------------------------------------------------------------------------
Loan losses                             (28.3)          (26.1)          (34.6)   (12.5)    (13.2)
Payments                                (44.3)          (37.7)          (28.3)   (34.2)    (19.3)
Sales (2)                                (2.4)           (8.9)           (4.1)    (3.3)    (21.3)
Other                                    (0.3)           (3.7)           (1.5)    (0.9)     (0.1)
                                       ------          ------          ------   ------    ------
NPA end of period                      $223.2          $225.5          $227.5   $210.1    $166.0
</TABLE>

(1) Impact of Florida not material.
(2) 1Q02 includes $6.5 MM related to the sale of Florida banking operations
    and 2Q01 includes $14.9 MM related to PG & E.

                                                                              23
<PAGE>
                                                                          [LOGO]






NON-PERFORMING ASSETS - BY SECTOR


$223 MM @ 6/30/02
                     [GRAPH]

Services          30%        Manufacturing       30%
F.I.R.E.          14%        Construction         6%
Retail             3%        Trade Agriculture    3%
Trans./Comm.       2%        Wholesale Trade      0%
Energy             0%        Other               10%


% OF $120 MM CHANGE VS 12/31/00

Services          45%        Manufacturing       42%
F.I.R.E.           9%        Construction         5%
Retail             6%        Trade Agriculture    3%
Trans./Comm.       0%        Wholesale Trade      2%
Energy             0%        Other              -12%


                                                                              24


<PAGE>

                                                                         [LOGO]
NET CHARGE-OFFS - ADJUSTED (1)

($MM)
                     [GRAPH]

1Q01    2Q01    3Q01    4Q01    1Q02      2Q02

$ 26     $34     $29     $47     $46       $43

0.57%   0.74%   0.61%   0.99%   0.97%     0.88%





                                    2Q02             1Q02               2Q01

Commercial                          1.53 %           1.15 %            0.64 %
Commercial real estate              0.22             0.42              0.21
                                    ----             ----              ----
  Total commercial                  1.02             0.86              0.49
                                    ----             ----              ----
Consumer
  Auto loans - indirect             0.92             1.45              1.49
  Auto lease                        1.08             1.64              1.37
                                    ----             ----              ----
    Indirect                        1.01             1.56              1.42
      Other direct                  1.22             1.08              0.91
      Home equity                   0.43             0.41              0.35
      Residential real estate       0.18             0.05              0.14
                                    ----             ----              ----
        Total consumer              0.75             1.07              0.99
                                    ----             ----              ----
Total                               0.88 %           0.97 %            0.74 %



(1)  Excludes impact of net charge-offs on exited portfolios. Reported total
     consumer net charge-offs were 0.83% in 2Q02, 1.22% in 1Q02, and 2.07% in
     2Q01. Reported total net charge-offs were 0.92% in 2Q02, 1.05% in 1Q01, and
     1.33% in 2Q01. Excludes impact of Florida banking operations sold in 1Q02.




                                                                              25

<PAGE>
                                                                          [LOGO]


VINTAGE PERFORMANCE

AUTO LOANS - INDIRECT

                     [GRAPHS]


Cumulative Charge-off Rate
                                           % of Portfolio @
                                           ----------------
                                    12/00   12/01    3/02   6/02
                                    -----   -----    ----   ----
Pre -  4Q98                         22%      8%       4%      3%
4Q98 - 3Q99                         24%     12%      11%      9%
4Q99 - 3Q00                         42%     25%      24%      20%
4Q00 - 4Q01                         12%     55%      61%      43%
1Q02 - 2Q02                         --      --       --       25%
                                    ---     ---      ---      ---
                                    100%    100%     100%     100%



<Table>
<Caption>
# Quarters After Origination          4Q98 - 3Q99      4Q99 - 3Q00    4Q00 - 4Q01    1Q02 - 2Q02
<S>                                      <C>              <C>            <C>            <C>
         1                               0.00%            0.00%          0.00%          0.00%
         2                               0.04%            0.08%          0.05%          0.00%
         3                               0.22%            0.42%          0.30%
         4                               0.48%            0.87%          0.65%
         5                               0.65%            1.35%          1.00%
         6                               0.85%            1.89%          1.25%
         7                               1.00%            2.15%          1.49%
         8                               1.20%            2.40%
         9                               1.41%            2.45%
         10                              1.58%            2.50%
         11                              1.69%
         12                              1.85%
         13                              1.89%
</Table>


AUTO LEASES

Cumulative Charge-off Rate

                                                     % of Portfolio @
                                                     ----------------
                                            12/00     12/01   3/02     6/02
                                            -----     -----   ----     ----
Pre-4Q98                                    16%       6%       4%       3%
4Q98 - 3Q99                                 33%      22%      19%      16%
4Q99 - 3Q00                                 42%      31%      30%      27%
4Q00 - 4Q01                                 9%       41%      47%      38%
1Q02 - 2Q02                                 --       --       --       16%
                                            ---      ---      ---      ---
                                            100%     100%     100%     100%

<Table>
<Caption>
# Quarters After Origination          4Q98 - 3Q99      4Q99 - 3Q00    4Q00 - 4Q01    1Q02 - 2Q02
<S>                                      <C>              <C>            <C>            <C>
         1                               0.00%            0.01%          0.01%          0.01%
         2                               0.04%            0.05%          0.06%          0.03%
         3                               0.15%            0.33%          0.30%
         4                               0.27%            0.72%          0.67%
         5                               0.38%            1.30%          1.00%
         6                               0.55%            1.85%          1.22%
         7                               0.75%            2.05%          1.34%
         8                               0.95%            2.40%
         9                               1.21%            2.45%
         10                              1.39%            2.50%
         11                              1.60%
         12                              1.76%
         13                              1.80%
</Table>



                                                                              26
<PAGE>
                                                                          [LOGO]


CONSUMER DELINQUENCY TRENDS (1)

30+ Days
- --------

2Q01    3Q01    4Q01    1Q02    2Q02

2.88%   3.10%   3.32%  2.36%  2.26%




90+ Days
- --------

2Q01    3Q01    4Q01      1Q02    2Q02

0.47%   0.55%   0.60%     0.44%   0.41%



(1)  % of related outstandings at EOP. Excludes impact of Florida banking
     operations sold in 1Q02

                                                                              27
<PAGE>
                                                                          [LOGO]

LOAN LOSS RESERVE (1)

LOAN LOSS RESERVE FLOW ANALYSIS

($MM)                       2Q02             1Q02              4Q01

LLR- beginning             $ 386.1          $ 387.0           $ 334.8

Charge-offs                  (57.5)           (60.2)            (60.1)

Recoveries                    12.6             10.9               10.0
                           -------          -------           -------

  Net charge-offs            (44.9)           (49.3)            (50.1)

Provision exp.                53.9             50.6              54.3

Provision exp.-other          ---              ---               50.0

Assets sold                   ---              ---               ---

Loans securitized             (2.0)            (2.2)             (2.0)
                           -------          -------           -------

LLR-ending                 $ 393.0          $ 386.1           $ 387.0


                     [GRAPH]


1Q01    2Q01    3Q01   4Q01   1Q02    2Q02

1.51%   1.76%   1.77%  2.05%  2.00%   2.00%

$276    $326    $335   $387   $386    $393


(1)  Excludes impact of Florida banking operations sold in 1Q02

                                                                              28
<PAGE>
                                                                          [LOGO]

CAPITAL REVIEW



                                                                              29
<PAGE>
                                                                          [LOGO]

CAPITAL TRENDS - REPORTED BASIS

                                    2Q02             1Q02              2Q01
                                    ----             ----              ----
Tier 1 risk-based capital            9.72%           10.26 %             7.01%
Total risk-based capital            12.75            13.40              10.20
Tier 1 leverage                      9.94             9.72               6.96
Tangible equity / assets             8.41 (1)         9.03               5.97
Double leverage                        83               78                110

(1)  Estimated at 7.5%-8.0% by 12/31/02 assuming continuation of share
     repurchase program


                                                                              30
<PAGE>
                                                                          [LOGO]

SHARE REPURCHASE PROGRAM

COMMITMENT TO REPURCHASE $300 - 400 MM

- - Program commenced February 21
- - Repurchased 8.8 million shares through
  June 30 $175 million
- - Committed to continued repurchase at reasonable
  prices and volumes

                                                                              31
<PAGE>
                                                                          [LOGO]


PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
FORWARD LOOKING STATEMENT DISCLOSURE

   This presentation and discussion, including related questions and answers,
        may contain forward-looking statements, including certain plans,
       expectations, goals, and projections which are subject to numerous
                     assumptions, risks, and uncertainties.

  A number of factors, including but not limited to those set forth under the
   heading "Business Risks" included in Item 1 of Huntington's Annual Report
      on Form 10-K for the year ended December 31, 2001, and other factors
 described from time to time in Huntington's other filings with the Securities
   and Exchange Commission, could cause actual conditions, events, or results
to differ significantly from those described in the forward-looking statements.

     All forward-looking statements included in this discussion, including
       related questions and answers, are based on information available
              at the time of the discussion. Huntington assumes no
              obligation to update any forward-looking statement.

                                                                              32
<PAGE>

                                     [LOGO]


                                   Huntington
<PAGE>
                                                                          [LOGO]


                                   APPENDIX A





                                                                              34
<PAGE>
                                                                          [LOGO]

MANAGING INTEREST RATE RISK

NET INTEREST INCOME AT RISK
FORWARD CURVE +/- 2%
GRADUAL CHANGE IN RATES


                     [GRAPHS]

                  1Q01    2Q01    3Q01    4Q01    1Q02    2Q02

2% Rate Fall      1.7%    1.8%    1.5%    0.8%    1.4%    0.9%
2% Rate Rise     -2.1%   -2.1%   -1.7%   -1.2%   -1.6%   -1.3%



ECONOMIC VALUE AT RISK

PARALLEL YIELD CURVE SHIFT +/-2%

INSTANTANEOUS CHANGE IN RATES


                    1Q01    2Q01    3Q01    4Q01    1Q02    2Q02

+2% Rate Shock      -5.7%   -6.2%   -3.7%   -2.4%   -3.8%   -3.0%
- -2% Rate Shock       3.3%    3.6%    0.7%    -0.7%   0.8%    0.1%







                                                                              35

<PAGE>
                                                                          [LOGO]


LOAN PORTFOLIO - 6/30/02

BY TYPE OF LOAN - MANAGED

($B)                                Amt              Pct
Commercial                        $ 5.6              26.9%
Commercial RE                       3.7              17.8
                                  -----             -----
  Total commercial                  9.3              44.7
                                  -----             -----
Auto leases                         3.1              15.0
Auto loans                          3.8              18.2
Home equity lines                   3.0              14.4
Residential real estate             1.2               5.8
Other consumer                      0.4               1.9
                                  -----             -----
  Total consumer                   11.5              55.3
                                  -----             -----
  Total loans                     $20.8             100.0%


By Region or LOB - Managed

                     [GRAPH]

Central OH/WV     18%       Northern OH      13%
W. Michigan        9%       S. Ohio/KY        7%
E. Michigan        5%       Indiana           3%
Auto              37%       PFG               4%
Mortgage           4%

                                                                              36

<PAGE>
                                                                          [LOGO]

PERFORMANCE TRENDS (1)

LOAN LOSS PROVISION

($MM)

                     [GRAPHS]

1Q01    2Q01    3Q01    4Q01    1Q02    2Q02

$30     $42     $46     $54     $51     $54





NET INCOME

($MM)

1Q01    2Q01    3Q01    4Q01    1Q02    2Q02

$72     $76     $81     $80     $80     $82




(1)  Operating basis - Excludes after tax impact of restructuring and other
     charges, gain on sale of Florida operations in 1Q02, impact of Florida
     banking operations sold in 1Q02 and Florida insurance agency sold 7/2/02


                                                                              37

<PAGE>
                                                                          [LOGO]


PERFORMANCE TRENDS (1)

REVENUE (FTE)

($MM)

                     [GRAPH]

1Q01    2Q01    3Q01    4Q01    1Q02    2Q02

$321    $338    $342    $351    $349    $357



(1)  Excludes security gains and gain on sale of the Florida banking operations
     in 1Q02, impact of Florida banking operations sold in 1Q02 and Florida
     insurance agency sold 7/2/02

                                                                              38
<PAGE>
                                                                          [LOGO]

PERFORMANCE TRENDS (1)

RETURN ON AVERAGE ASSETS

                     [GRAPHS]

1Q01    2Q01    3Q01    4Q01    1Q02    2Q02

1.16%   1.20%   1.30%   1.28%   1.30%   1.31%




RETURN ON AVERAGE EQUITY





1Q01    2Q01    3Q01    4Q01    1Q02    2Q02

12.0%   12.6%   13.5%   13.4%   13.6%  14.0%


(1)  Operating basis - Excludes after tax impact of restructuring and other
     charges of $36.5 MM in 1Q02, $72.1 MM in 2Q01, the $56.8 MM after tax gain
     on the sale of Florida operations in 1Q02, the impact of Florida banking
     operations sold in 1Q02 and Florida insurance agency sold 7/2/02

                                                                              39
<PAGE>
                                                                          [LOGO]


                     APPENDIX B OPERATING INCLUDING FLORIDA

NOTE:    Slides in Appendix B show operating results INCLUDING Florida, the way
         they were previously presented for analytical purposes prior to 2Q02.
         As such, these are the same slides and data contained in the 1Q02
         conference call presentation materials. With the sale of the Florida
         banking operations in 1Q02, and to provide better analytical
         comparisons to prior periods, beginning with 2Q02 reporting, operating
         results are now defined to exclude the impact of the Florida banking
         operations.


                                                                              40
<PAGE>

                                                                          [LOGO]

FIRST QUARTER 2002 EARNINGS


                                                  One-time
($MM)                              Reported       charges          Operating
                                   --------       -------          ---------
Net interest income               $  242.8                         $ 242.8
Provision                            (55.8)                          (55.8)
Non-interest income                  125.6                           125.6
Florida gain                         175.4         $ 175.4               -
Security gains                         0.5                             0.5
Non-interest expense                (263.6)          (56.2)         (207.4)
                                   -------         -------         -------
     Pretax income                   224.9           119.2           105.7
                                   -------         -------         -------
     Net income                    $  97.7         $  20.3         $  77.5
                                   =======         =======         =======
     EPS                           $  0.39         $  0.08         $  0.31


                                                                              41
<PAGE>


                                                                          [LOGO]

PERFORMANCE HIGHLIGHTS (1)

                                           1Q02           4Q01           1Q01
                                           ----           ----           ----
EPS - operating                           $0.31          $0.30          $0.27
EPS - cash basis (2)                       0.31           0.33           0.30
ROA                                        1.18 %         1.07 %         0.97 %
ROE                                        13.3           12.7           11.5
Efficiency ratio (2)                       55.7           55.8           62.0
NIM                                        4.14           4.11           3.93
Tangible common equity/assets (3)          9.03           6.04           6.01

(1)      Operating basis - Excluding after tax impact of restructuring and other
         charges of $36.5 MM in 1Q02, $9.8 MM in 4Q01 and the after tax gain on
         the sale of Florida operations of $56.8 MM in 1Q02
(2)      Based on operating earnings excluding intangible amortization of $1.4
         MM in 1Q02, $10.1 MM in 4Q01 and $10.6 MM in 1Q01
(3)      Period end


                                                                              42
<PAGE>


                                                                          [LOGO]

INCOME STATEMENT (1)

    ($MM)                          1Q02            4Q01            1Q01
                                   ----            ----            ----
Net interest income               $242.8          $255.2          $243.1
Provision                          (55.8)          (58.3)          (33.5)
Non-interest income                125.6           133.0           115.6
Security gains                       0.5             0.1             2.1
Non-interest expense              (207.4)         (227.3)         (234.0)
                                   ------          ------          ------
      Pretax income                105.7           102.7            93.3
                                   ------          ------          ------
      Net income                   $77.5           $75.5           $67.9
                                   ======          ======          ======
      EPS                           $0.31           $0.30           $0.27


(1)      Operating basis - Excluding after tax impact of restructuring and other
         charges of $36.5 MM in 1Q02, $9.8 MM in 4Q01 and the after tax gain on
         the sale of Florida operations of $56.8 MM in 1Q02


                                                                              43
<PAGE>


                                                                          [LOGO]

PERFORMANCE TRENDS (1)

Earnings Per Share
- ------------------

                                    [GRAPHS]


2Q00    3Q00   4Q00    1Q01    2Q01   3Q01    4Q01    1Q02    1Q02XFL

$0.40   $0.33  $0.30   $0.27   $0.30  $0.30   $0.30   $0.31   $0.32



Pretax Income Before LLP and Securities Gains
- ---------------------------------------------


2Q00    3Q00    4Q00   1Q01   2Q01    3Q01   4Q01    1Q02    1Q02XFL

$150    $133    $139   $125   $145    $150   $161    $161    $159



(1)      Operating basis - Excludes after tax impact of restructuring and other
         charges of $115.0 MM in 2001, $32.5 MM in 2000, and $36.5 MM in 1Q02,
         and after tax gain on the sale of Florida operations of $56.8 MM in
         1Q02.


                                                                              44
<PAGE>


                                                                          [LOGO]


                                    [GRAPHS]

PERFORMANCE TRENDS

Net Interest Income & Margin (FTE)
- ----------------------------------

        2Q00    3Q00    4Q00    1Q01    2Q01    3Q01    4Q01    1Q02    1Q02XFL

Margin  3.72%   3.74%   3.70%   3.93%   3.97%   4.04%   4.11%   4.14%   4.21%

NII     $235    $238    $235    $245    $250    $251    $256    $244    $233



Earning Asset Mix (Avg)
- -----------------------

              2Q00    3Q00    4Q00   1Q01   2Q01    3Q01   4Q01    1Q02

Other EA      1%      1%      1%     2%     2%      2%     2%      2%

Securities    17%     18%     18%    15%    14%     12%    12%     12%

Loans         82%     81%     81%    83%    84%     86%    86%     86%


                                                                              45
<PAGE>


                                                                          [LOGO]

PERFORMANCE TRENDS

                                    [GRAPHS]

Loans
- -----


            2Q00     3Q00    4Q00    1Q01    2Q01    3Q01   4Q01   1Q02  1Q02XFL

Com'l      $ 6.4    $ 6.5   $ 6.5   $ 6.7   $ 6.7   $ 6.7  $ 6.5  $ 6.0

Com'l RE     3.4      3.5     3.5     3.6     3.6     3.7    3.9    3.8

Auto Ln/Lse  6.0      5.7     5.7     5.6     5.8     6.0    6.1    5.9

HEL          1.9      2.0     2.1     2.2     2.3     2.4    2.5    2.4

Res Mtg      1.5      1.3     0.9     1.0     0.9     0.9    0.9    1.0

Other        1.6      1.6     1.8     1.6     1.7     1.6    1.6    1.4
           -----    -----   -----   -----   -----   -----  -----  -----   -----

           $20.8    $20.6   $20.5   $20.7   $21.0   $21.3  $21.5  $20.5   $19.1
           =====    =====   =====   =====   =====   =====  =====  =====   =====


Core Deposits
- -------------

                        1Q01     2Q01    3Q01    4Q01    1Q02    1Q02XFL


Non. Int. Brg. DDA     $ 3.2    $ 3.3   $ 3.3   $ 3.4   $ 3.0

Int. Brg. DDA            4.6      4.8     5.1     5.5     5.1

Savings                  3.5      3.5     3.5     3.4     3.1

Other Dom. Tire         6.0      5.7     5.9     5.9     5.1
                       -----    -----   -----   -----   -----     -----

                       $17.3    $17.3   $17.8   $18.2   $16.3     $14.0
                       =====    =====   =====   =====   =====     =====


                                                                              46
<PAGE>

                                                                          [LOGO]

PERFORMANCE TRENDS (1)

Non-Interest Income
- -------------------


<Table>
<Caption>


                  2Q00    3Q00    4Q00    1Q01    2Q01    3Q01    4Q01    1Q02    1Q02 XFL

<S>              <C>     <C>     <C>     <C>     <C>     <C>      <C>    <C>
Dep. Sv. Chg.     $ 40    $ 40    $ 39    $ 39    $ 41    $ 42     $43    $ 39

Brkg/Ins.           14      16      17      19      19      20      21      19

Mtg. Bnkg.           8       9      12      10      19      15      16      20

Trust Svc.          13      13      14      14      15      15      15      16

Other S. Chg.       11      11      12      11      12      12      13      10

BOLI                10      10      11      10      10      10      10      12

Other               20      11      25      13      15      15      15      10
                 -----    ----    ----    ----    ----    ----    ----    ----      ----

                  $116    $110    $130    $116    $131    $129    $133    $126      $115
                  ====    ====    ====    ====    ====    ====    ====    ====      ====

</TABLE>

Revenue (Fte)
- -------------

2Q00    3Q00   4Q00    1Q01    2Q01   3Q01    4Q01    1Q02    1Q02 XFL

$350    $348   $365    $361    $380   $381    $390    $370    $349



(1)      Excluding securities gains and gain on sale of Florida operations in
         1Q02


                                                                              47
<PAGE>


                                                                          [LOGO]

                                    [GRAPHS]

PERFORMANCE TRENDS

Non-interest Expense (1)
- ------------------------

<Table>
<Caption>
              2Q00   3Q00    4Q00    1Q01    2Q01   3Q01    4Q01    1Q02    1Q02 XFL
<S>          <C>     <C>     <C>     <C>     <C>    <C>     <C>     <C>     <C>
Personnel    $104    $110    $106    $118    $122   $121    $118    $114

Equip/Occ.     36      39      39      40      38     39      41      34

Outside DP/
 Other Svc.    15      16      16      17      18     17      18      18

Other          43      49      63      59      55     52      50      41
             ----    ----    ----    ----    ----   ----    ----    ----   -----

             $198    $214    $224    $234    $233   $229    $227    $207    $189
             ====    ====    ====    ====    ====   ====    ====    ====    ====
</Table>


Efficiency Ratio (2)
- --------------------

      2Q00    3Q00    4Q00    1Q01    2Q01   3Q01    4Q01    1Q02

      53.9%   58.4%   58.5%   62.0%   58.6%  57.5%   55.8%   55.7%

XFL                           60.2%   56.2%  54.0%   52.5%   54.1%


(1)      Operating basis - Excludes impact of restructuring and other charges
(2)      FTE Revenue excludes securities gains and gain on sale of Florida
         operations / non-interest expense excludes intangible amortization and
         48 restructuring and other charges


                                                                              48
<PAGE>


                                                                          [LOGO]


                                    [GRAPH]


LOAN LOSS RESERVE

2Q00    3Q00    4Q00    1Q01    2Q01   3Q01    4Q01    1Q02

1.45%   1.45%   1.45%   1.45%   1.67%  1.67%   1.90%   2.00%

$297    $295    $298    $302    $352   $360    $411    $386




Loan Loss Reserve Flow Analysis
- -------------------------------

($MM)                                  1Q02          4Q01          3Q01
                                       ----          ----          ----
LLR- beginning                        $410.6        $360.4        $352.2
Charge-offs                            (67.5)        (66.8)        (49.4)
Recoveries                              11.7          10.7           9.6
                                        ----          ----          ---
Net charge-offs                        (55.8)        (56.1)        (39.8)
Provision exp.                          55.8          58.3          49.6
Provision exp.-other                                  50.0
Assets sold                            (22.3)
Loans securitized                       (2.2)         (2.0)         (1.6)
                                        ----          ----          ---
LLR-ending                            $386.1        $410.6        $360.4


                                                                              49
<PAGE>


                                                                          [LOGO]

                                    [GRAPHS]


PERFORMANCE TRENDS (1)

Loan Loss Provision
- -------------------

2Q00    3Q00    4Q00    1Q01    2Q01   3Q01    4Q01    1Q02    1Q02 XFL

$16     $26     $33     $33     $46    $50     $58     $56     $51


Net Income
- ----------

2Q00    3Q00    4Q00    1Q01    2Q01   3Q01    4Q01    1Q02    1Q02 XFL

$98     $83     $76     $68     $75    $76     $75     $77     $80


(1)      Operating basis - Excludes after tax impact of restructuring and other
         charges and gain on sale of Florida operations in 1Q02


                                                                              50
<PAGE>


                                                                          [LOGO]

CREDIT QUALITY OVERVIEW

                                             1Q02          4Q01         1Q01
                                             ----          ----         ----
NPAs / total loans + OREO                    1.17 %        1.05 %       0.60 %
Net charge-offs
      - Reported                             1.11          1.04         0.55
      - Adjusted (1)                         1.04          0.98         0.55
      - Adjusted Xcld. Florida               1.00          1.04         0.57
90+ days past due                            0.32          0.42         0.49
      Consumer                               0.44          0.61         0.69
      Commercial / CRE                       0.19          0.22         0.29
Reserve / total loans                        2.00          1.90         1.45
Reserve / NPAs                                171           180          239

(1)      Excludes impact of net charge-offs on exited portfolios


                                                                              51
<PAGE>


                                                                          [LOGO]

NON-PERFORMING ASSET FLOW ANALYSIS

Period End ($MM)
- ----------

                             1Q02       4Q01        3Q01       2Q01       1Q01
                             ----       ----        ----       ----       ----
NPA beginning of period     $227.5     $210.1      $166.0     $124.9     $105.4
New NPAs                      74.4       86.0        95.0       95.0       53.9
Loan losses                  (26.1)     (34.6)      (12.5)     (13.2)      (7.2)
Payments                     (37.7)     (28.3)      (34.2)     (19.3)     (25.0)
Sales (1)                     (8.9)      (4.1)       (3.3)     (21.3)      (1.9)
Other                         (3.7)      (1.6)       (0.9)      (0.1)      (0.3)
                            ------     ------      ------     ------     ------
NPA end of period           $225.5     $227.5      $210.1     $166.0     $124.9
% of loans and OREO           1.17%      1.05%       0.97%      0.79%      0.60%


(1)      1Q02 includes $6.5 MM related to the sale of Florida banking operations
         and 2Q01 includes $14.9 MM related to PG & E.


                                                                              52
<PAGE>


                                                                          [LOGO]

                                    [GRAPH]

NET CHARGE-OFFS - ADJUSTED (1)

2Q00    3Q00    4Q00    1Q01    2Q01    3Q01    4Q01    1Q02

0.30%   0.46%   0.50%   0.55%   0.73%   0.61%   0.98%   1.04%

$16     $24     $25     $29     $37     $33     $53     $52



                                 1Q02            4Q01          1Q01
                                 ----            ----          ----
Commercial                       1.31 %          1.39 %        0.41 %
Commercial real estate           0.42            0.08          0.15

Consumer
  Auto loans - indirect          1.59            1.46          1.43
  Auto lease                     1.64            1.55          0.89
                                 ----            ----          ----
    Indirect                     1.62            1.51          1.13

  Installment                    1.01            0.86          0.61
  Home equity lines              0.36            0.38          0.34
  Residential real estate        0.05            0.17          0.03
                                 ----            ----          ----
    Total consumer               1.10            1.05          0.78
                                 ----            ----          ----

Total                            1.04 %          0.98 %        0.55 %
Total - Excluding Florida        1.00 %          1.04 %        0.57 %


(1)      Excludes impact of net charge-offs on exited portfolios. Reported total
         consumer net charge-offs were 1.23% in 1Q02, 1.17% in 4Q01, and 0.78%
         in 1Q01. Reported total net charge-offs were 1.11% in 1Q02, 1.04% in
         4Q01, and 0.55% in 1Q01.


                                                                              53
<PAGE>


                                                                          [LOGO]

                                    [GRAPHS]


DELINQUENCY TRENDS - 30+ DAYS (1)

Total Loans
- -----------

1Q01    2Q01    3Q01    4Q01    1Q02

2.15%   2.31%   2.33%   2.31%   1.89%


Consumer Loans
- --------------

1Q01    2Q01    3Q01    4Q01    1Q02

2.67%   2.75%   2.97%   3.21%   2.36


(1)  % of related outstanding at EOP. Data before 1Q02 includes Florida.


                                                                              54


<PAGE>


                                                                          [LOGO]


                                    [GRAPHS]


PERFORMANCE TRENDS (1)

Return on Average Assets
- ------------------------

2Q00    3Q00    4Q00    1Q01    2Q01    3Q01    4Q01    1Q02    1Q02XFL

1.37%   1.15%   1.06%   0.97%   1.05%   1.07%   1.07%   1.18%   1.30%

Return on Average Equity
- ------------------------

2Q00    3Q00    4Q00    1Q01    2Q01    3Q01    4Q01    1Q02    1Q02XFL

17.8%   14.0%   12.9%   11.5%   12.4%   12.6%   12.7%   13.3%   13.6%


(1)      Operating basis - Excludes after tax impact of restructuring and other
         charges and gain on sale of Florida operations in 1Q02 55


                                                                              55
<PAGE>


                       HUNTINGTON BANCSHARES INCORPORATED
                           QUARTERLY FINANCIAL REVIEW
                                    JUNE 2002




                                TABLE OF CONTENTS

<TABLE>
<S>                                                                                         <C>
                 REPORTED BASIS

                 Consolidated Statements of Income                                           1

                 Consolidated Balance Sheets                                                 2

                 Loans and Deposits                                                          3

                 Quarterly Net Interest Margin Analysis                                      4 & 5

                 Selected Quarterly Income Statement Data                                    6

                 Loan Loss Reserves and Net Charge-Off Analysis                              7

                 Non-Performing Assets and Past Due Loans                                    8

                 Stock Summary, Capital, and Other Data                                      9

                 OPERATING BASIS

                 -     Definition of Operating Basis                                         10

                 -     Consolidated Statements of Income                                     11

                 -     Loans and Deposits                                                    12

                 -     Quarterly Net Interest Margin Analysis                                13 & 14

                 -     Selected Quarterly Income Statement Data                              15

                 -     Loan Loss Reserves and Net Charge-Off Analysis                        16

                 -     Non-Performing Assets and Past Due Loans                              17



</TABLE>
<PAGE>




                       HUNTINGTON BANCSHARES INCORPORATED
                        CONSOLIDATED STATEMENTS OF INCOME
                                 REPORTED BASIS
<TABLE>
<CAPTION>

 THREE MONTHS ENDED JUNE 30,
- ------------------------------------------------------------------------------------------------------------
(in thousands, except per share amounts)                                 2002                    2001
- ------------------------------------------------------------------------------------------------------------
<S>                                                                       <C>                     <C>
Net Interest Income                                                       $ 241,859               $ 248,033
Provision for loan losses                                                    53,892                 117,495
- ------------------------------------------------------------------------------------------------------------
               NET INTEREST INCOME
                    AFTER PROVISION FOR LOAN LOSSES                         187,967                 130,538
- ------------------------------------------------------------------------------------------------------------

Total non-interest income                                                   117,980                 128,203
Total non-interest expense                                                  192,060                 267,293
- ------------------------------------------------------------------------------------------------------------

               INCOME BEFORE INCOME TAXES                                   113,887                  (8,552)
Income taxes                                                                 31,647                 (10,929)
- ------------------------------------------------------------------------------------------------------------
               NET INCOME                                                  $ 82,240                 $ 2,377
- ------------------------------------------------------------------------------------------------------------

  PER COMMON SHARE
     Net income
          Basic                                                               $0.33                   $0.01
          Diluted                                                             $0.33                   $0.01

     Cash dividends declared                                                  $0.16                   $0.20

  AVERAGE COMMON SHARES
          Basic                                                             246,106                 251,024
          Diluted                                                           247,867                 251,448

- ------------------------------------------------------------------------------------------------------------------

 SIX MONTHS ENDED JUNE 30,
- ------------------------------------------------------------------------------------------------------------
(in thousands, except per share amounts)                                 2002                    2001
- ------------------------------------------------------------------------------------------------------------
Net Interest Income                                                       $ 484,684               $ 491,157
Provision for loan losses                                                   109,673                 150,959
- ------------------------------------------------------------------------------------------------------------
               NET INTEREST INCOME
                    AFTER PROVISION FOR LOAN LOSSES                         375,011                 340,198
- ------------------------------------------------------------------------------------------------------------

Total non-interest income                                                   419,408                 245,927
Total non-interest expense                                                  455,630                 501,383
- ------------------------------------------------------------------------------------------------------------

               INCOME BEFORE INCOME TAXES                                   338,789                  84,742
Income taxes                                                                158,822                  14,499
- ------------------------------------------------------------------------------------------------------------
               NET INCOME                                                 $ 179,967                $ 70,243
- ------------------------------------------------------------------------------------------------------------

  PER COMMON SHARE
     Net income
          Basic                                                               $0.72                   $0.28
          Diluted                                                             $0.72                   $0.28

     Cash dividends declared                                                  $0.32                   $0.40

  AVERAGE COMMON SHARES
          Basic                                                             248,415                 250,984
          Diluted                                                           249,946                 251,479

</TABLE>



<TABLE>
<CAPTION>

 THREE MONTHS ENDED JUNE 30,                                                            CHANGE
- ----------------------------------------------------------------------   ---------------------------------
(in thousands, except per share amounts)                                       Amount          Percent
- ----------------------------------------------------------------------   ---------------------------------
<S>                                                                            <C>               <C>
Net Interest Income                                                            $ (6,174)         (2.5)%
Provision for loan losses                                                       (63,603)        (54.1)
- ----------------------------------------------------------------------   ---------------------------------
               NET INTEREST INCOME
                    AFTER PROVISION FOR LOAN LOSSES                              57,429          44.0
- ----------------------------------------------------------------------   ---------------------------------

Total non-interest income                                                       (10,223)         (8.0)
Total non-interest expense                                                      (75,233)        (28.1)
- ----------------------------------------------------------------------   ---------------------------------

               INCOME BEFORE INCOME TAXES                                       122,439          N.M.
Income taxes                                                                     42,576          N.M.
- ----------------------------------------------------------------------   ---------------------------------
               NET INCOME                                                      $ 79,863          N.M.%
- ----------------------------------------------------------------------   ---------------------------------

  PER COMMON SHARE
     Net income
          Basic                                                                  $ 0.32          N.M.%
          Diluted                                                                $ 0.32          N.M.%

     Cash dividends declared                                                    $ (0.04)        (20.0)%

  AVERAGE COMMON SHARES
          Basic                                                                  (4,918)         (2.0)%
          Diluted                                                                (3,581)         (1.4)%

- ----------------------------------------------------------------------------------------------------------

 SIX MONTHS ENDED JUNE 30,                                                            CHANGE
- ----------------------------------------------------------------------   ---------------------------------
(in thousands, except per share amounts)                                        Amount          Percent
- ----------------------------------------------------------------------   ---------------------------------
Net Interest Income                                                            $ (6,473)         (1.3)%
Provision for loan losses                                                       (41,286)        (27.3)
- ----------------------------------------------------------------------   ---------------------------------
               NET INTEREST INCOME
                    AFTER PROVISION FOR LOAN LOSSES                              34,813          10.2
- ----------------------------------------------------------------------   ---------------------------------

Total non-interest income                                                       173,481          70.5
Total non-interest expense                                                      (45,753)         (9.1)
- ----------------------------------------------------------------------   ---------------------------------

               INCOME BEFORE INCOME TAXES                                       254,047          N.M.
Income taxes                                                                    144,323          N.M.
- ----------------------------------------------------------------------   ---------------------------------
               NET INCOME                                                     $ 109,724          N.M.%
- ----------------------------------------------------------------------   ---------------------------------

  PER COMMON SHARE
     Net income
          Basic                                                                  $ 0.44          N.M.%
          Diluted                                                                $ 0.44          N.M.%

     Cash dividends declared                                                    $ (0.08)        (20.0)%

  AVERAGE COMMON SHARES
          Basic                                                                  (2,569)         (1.0)%
          Diluted                                                                (1,533)         (0.6)%

</TABLE>



N.M. - Not Meaningful.

                                                                       Page 1
<PAGE>


                       HUNTINGTON BANCSHARES INCORPORATED
                           CONSOLIDATED BALANCE SHEETS
                                 REPORTED BASIS

<TABLE>
<CAPTION>

- -----------------------------------------------------------------------------------------------------------------------------------
                                                                JUNE 30,                December 31,                 June 30,
 (in thousands)                                                   2002                      2001                       2001
- -----------------------------------------------------------------------------------------------------------------------------------
<S>                                                                 <C>                     <C>                          <C>
ASSETS
Cash and due from banks                                             $ 858,561               $ 1,138,366                  $ 908,686
Interest bearing deposits in banks                                     28,385                    21,205                      4,893
Trading account securities                                             10,532                    13,392                      4,291
Federal funds sold and securities
     purchased under resale agreements                                 75,824                    83,275                     59,725
Loans held for sale                                                   190,724                   629,386                    376,671
Securities available for sale - at fair value                       3,006,273                 2,849,579                  3,190,686
Investment securities - fair value $10,963; $12,499;
     and $15,159, respectively                                         10,769                    12,322                     14,978
Total loans (1)                                                    19,652,170                21,601,873                 21,127,862
     Less allowance for loan losses                                   393,011                   410,572                    352,243
- ----------------------------------------------------------------------------------------------------------------------------------
Net loans                                                          19,259,159                21,191,301                 20,775,619
- ----------------------------------------------------------------------------------------------------------------------------------
Bank owned life insurance                                             863,327                   843,183                    824,062
Premises and equipment                                                353,931                   452,036                    457,749
Goodwill and other intangible assets                                  210,685                   716,054                    737,437
Customers' acceptance liability                                        16,778                    13,670                     15,335
Accrued income and other assets                                       496,468                   536,390                    578,018
- ----------------------------------------------------------------------------------------------------------------------------------
TOTAL ASSETS                                                     $ 25,381,416              $ 28,500,159               $ 27,948,150
- ----------------------------------------------------------------------------------------------------------------------------------

LIABILITIES AND SHAREHOLDERS' EQUITY
Total deposits (1)                                               $ 16,861,100              $ 20,187,304               $ 18,996,922
Short-term borrowings                                               2,064,275                 1,955,926                  2,585,773
Bank acceptances outstanding                                           16,778                    13,670                     15,337
Medium-term notes                                                   1,782,438                 1,795,002                  1,983,603
Subordinated notes and other long-term debt                           943,706                   944,330                    890,371
Company obligated mandatorily redeemable preferred
  capital securities of subsidiary trusts holding solely
   junior subordinated debentures of the Parent Company               300,000                   300,000                    300,000
Accrued expenses and other liabilities                              1,061,259                   887,487                    822,622
- ----------------------------------------------------------------------------------------------------------------------------------
     Total Liabilities                                             23,029,556                26,083,719                 25,594,628
- ----------------------------------------------------------------------------------------------------------------------------------

Shareholders' equity
     Preferred stock - authorized 6,617,808 shares;
          none outstanding                                                ---                       ---                        ---
     Common stock - without par value; authorized
          500,000,000 shares; issued 257,866,255;
          257,866,255; and 257,866,255 shares, respectively;
          outstanding 242,919,872; 251,193,814; and
          251,056,761 shares, respectively                          2,487,887                 2,490,724                  2,490,682
     Less 14,946,383; 6,672,441; and 6,809,494
          treasury shares, respectively                              (289,705)                 (123,849)                  (125,095)
     Accumulated other comprehensive income (loss)                     28,655                    25,488                     (8,388)
     Retained earnings (deficit)                                      125,023                    24,077                     (3,677)
- -----------------------------------------------------------------------------------------------------------------------------------
     Total Shareholders' Equity                                     2,351,860                 2,416,440                  2,353,522
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY                       $ 25,381,416              $ 28,500,159               $ 27,948,150
- -----------------------------------------------------------------------------------------------------------------------------------

</TABLE>



<TABLE>
<CAPTION>

- ------------------------------------------------------------  -------------------------------------
                                                                    Change June '02 vs. '01
                                                              -------------------------------------
                                                                    Amount           Percent
- ------------------------------------------------------------  ------------------   ----------------
<S>                                                                   <C>                <C>
ASSETS
Cash and due from banks                                               $ (50,125)         (5.5)%
Interest bearing deposits in banks                                       23,492          N.M.
Trading account securities                                                6,241          N.M.
Federal funds sold and securities
     purchased under resale agreements                                   16,099          27.0
Loans held for sale                                                    (185,947)        (49.4)
Securities available for sale - at fair value                          (184,413)         (5.8)
Investment securities - fair value $10,963; $12,499;
     and $15,159, respectively                                           (4,209)        (28.1)
Total loans (1)                                                      (1,475,692)         (7.0)
     Less allowance for loan losses                                      40,768          11.6
- ------------------------------------------------------------  -------------------------------------
Net loans                                                            (1,516,460)         (7.3)
- ------------------------------------------------------------  -------------------------------------
Bank owned life insurance                                                39,265           4.8
Premises and equipment                                                 (103,818)        (22.7)
Goodwill and other intangible assets                                   (526,752)        (71.4)
Customers' acceptance liability                                           1,443           9.4
Accrued income and other assets                                         (81,550)        (14.1)
- ------------------------------------------------------------  -------------------------------------
TOTAL ASSETS                                                        $(2,566,734)         (9.2)%
- ------------------------------------------------------------  -------------------------------------

LIABILITIES AND SHAREHOLDERS' EQUITY
Total deposits (1)                                                  $(2,135,822)        (11.2)%
Short-term borrowings                                                  (521,498)        (20.2)
Bank acceptances outstanding                                              1,441           9.4
Medium-term notes                                                      (201,165)        (10.1)
Subordinated notes and other long-term debt                              53,335           6.0
Company obligated mandatorily redeemable preferred
  capital securities of subsidiary trusts holding solely
   junior subordinated debentures of the Parent Company                     ---           ---
Accrued expenses and other liabilities                                  238,637          29.0
- ------------------------------------------------------------  -------------------------------------
     Total Liabilities                                               (2,565,072)        (10.0)%
- ------------------------------------------------------------  -------------------------------------

Shareholders' equity
     Preferred stock - authorized 6,617,808 shares;
          none outstanding                                                  ---           ---
     Common stock - without par value; authorized
          500,000,000 shares; issued 257,866,255;
          257,866,255; and 257,866,255 shares, respectively;
          outstanding 242,919,872; 251,193,814; and
          251,056,761 shares, respectively                               (2,795)         (0.1)
     Less 14,946,383; 6,672,441; and 6,809,494
          treasury shares, respectively                                (164,610)         N.M.
     Accumulated other comprehensive income (loss)                       37,043          N.M.
     Retained earnings (deficit)                                        128,700          N.M.
- ------------------------------------------------------------  -------------------------------------
     Total Shareholders' Equity                                          (1,662)         (0.1)
- ------------------------------------------------------------  -------------------------------------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY                          $(2,566,734)         (9.2)%
- ------------------------------------------------------------  -------------------------------------

</TABLE>

(1)  See Page 3 for detail of Loans and Deposits.
     N.M. - Not Meaningful.



                                                                       Page 2
<PAGE>


                       HUNTINGTON BANCSHARES INCORPORATED
                               LOANS AND DEPOSITS
                                 REPORTED BASIS

 LOAN PORTFOLIO COMPOSITION BY LOAN TYPE AND BY BUSINESS SEGMENT
- -------------------------------------------------------------------------------
 (in thousands)

<TABLE>
<CAPTION>

                                                                                      JUNE 30, 2002
- ------------------------------------------------------------------------------------------------------------------
 BY LOAN TYPE                                                                        BALANCE              %
- ------------------------------------------------------------------------------------------------------------------
<S>                                                                                 <C>                 <C>

Commercial                                                                          $ 5,591,280         28.5
Commercial real estate                                                                3,699,424         18.8
- ------------------------------------------------------------------------------------------------------------------
     TOTAL COMMERCIAL AND COMMERCIAL REAL ESTATE                                      9,290,704         47.3
- ------------------------------------------------------------------------------------------------------------------
Consumer
     Auto leases - Indirect (unearned income $456,485,
        $500,430, and $524,029)                                                       3,120,317         15.9
     Auto loans - Indirect                                                            2,630,541         13.4
     Home equity loans & lines of credit                                              2,990,726         15.2
     Residential mortgage                                                             1,210,991          6.2
     Other loans                                                                        408,891          2.0
- ------------------------------------------------------------------------------------------------------------------
     Total Consumer                                                                  10,361,466         52.7
- ------------------------------------------------------------------------------------------------------------------
      TOTAL LOANS                                                                  $ 19,652,170        100.0
- ------------------------------------------------------------------------------------------------------------------

 TOTAL LOANS BY BUSINESS SEGMENT
- --------------------------------------------------------------------------
 Regional Banking
    Central Ohio / West Virginia                                                    $ 4,587,849         23.3
    Northern Ohio                                                                     2,722,936         13.9
    Southern Ohio / Kentucky                                                          1,433,434          7.3
    West Michigan                                                                     1,835,321          9.3
    East Michigan                                                                     1,050,648          5.3
    Indiana                                                                             683,268          3.5
- -------------------------------------------------------------------------------------------------------------------
       TOTAL REGIONAL BANKING                                                        12,313,456         62.6
- -------------------------------------------------------------------------------------------------------------------
 Dealer Sales                                                                         6,377,265         32.5
 Private Financial Group                                                                861,762          4.4
 Treasury / Other                                                                        99,687          0.5
- -------------------------------------------------------------------------------------------------------------------
      TOTAL LOANS EXCLUDING FLORIDA                                                  19,652,170        100.0
- -------------------------------------------------------------------------------------------------------------------
 Florida                                                                                    ---          ---
- -------------------------------------------------------------------------------------------------------------------
      TOTAL LOANS                                                                  $ 19,652,170        100.0
- -------------------------------------------------------------------------------------------------------------------

</TABLE>


 DEPOSIT COMPOSITION BY DEPOSIT TYPE AND BY BUSINESS SEGMENT
- -------------------------------------------------------------------------------
(in thousands)

<TABLE>
<CAPTION>
                                                                                           JUNE 30, 2002
- ------------------------------------------------------------------------------------------------------------------
 BY DEPOSIT TYPE                                                                       BALANCE            %
- ------------------------------------------------------------------------------------------------------------------
<S>                                                                                 <C>                 <C>
 Demand deposits
      Non-interest bearing                                                          $ 2,769,936         16.4
      Interest bearing                                                                5,105,196         30.3
 Savings deposits                                                                     2,839,115         16.8
 Other domestic time deposits                                                         4,238,688         25.1
- ------------------------------------------------------------------------------------------------------------------
     TOTAL CORE DEPOSITS (1)                                                         14,952,935         88.6
- ------------------------------------------------------------------------------------------------------------------
 Domestic time deposits of $100,000 or more                                             765,163          4.5
 Brokered time deposits and negotiable CDs                                              849,347          5.1
 Foreign time deposits                                                                  293,655          1.8
- ------------------------------------------------------------------------------------------------------------------
      TOTAL DEPOSITS                                                               $ 16,861,100        100.0
- ------------------------------------------------------------------------------------------------------------------

 TOTAL DEPOSITS BY BUSINESS SEGMENT
- --------------------------------------------------------------------------
 Regional Banking
    Central Ohio / West Virginia                                                    $ 5,301,871         31.4
    Northern Ohio                                                                     3,377,763         20.0
    Southern Ohio / Kentucky                                                          1,345,096          8.0
    West Michigan                                                                     2,546,364         15.1
    East Michigan                                                                     1,944,617         11.5
    Indiana                                                                             609,676          3.6
- -----------------------------------------------------------------------------------------------------------------
       Total Regional Banking                                                        15,125,387         89.6
- -----------------------------------------------------------------------------------------------------------------
 Dealer Sales                                                                            50,363          0.3
 Private Financial Group                                                                811,470          4.8
 Treasury / Other (2)                                                                   873,880          5.3
- -----------------------------------------------------------------------------------------------------------------
      TOTAL DEPOSITS EXCLUDING FLORIDA                                               16,861,100        100.0
- -----------------------------------------------------------------------------------------------------------------
 Florida                                                                                    ---          ---
- -----------------------------------------------------------------------------------------------------------------
      TOTAL DEPOSITS                                                               $ 16,861,100        100.0
- -----------------------------------------------------------------------------------------------------------------

</TABLE>


<TABLE>
<CAPTION>

                                                                                         DECEMBER 31, 2001
- ---------------------------------------------------------------------------------------------------------------
 BY LOAN TYPE                                                                           BALANCE            %
- -------------------------------------------------------------------------------------------------------------------
<S>                                                                                   <C>                 <C>

Commercial                                                                            $ 6,439,372         29.8
Commercial real estate                                                                  3,975,562         18.4
- -------------------------------------------------------------------------------------------------------------------
     Total Commercial and Commercial Real Estate                                       10,414,934         48.2
- -------------------------------------------------------------------------------------------------------------------
Consumer
     Auto leases - Indirect (unearned income $456,485,
        $500,430, and $524,029)                                                         3,207,514         14.8
     Auto loans - Indirect                                                              2,883,279         13.3
     Home equity loans & lines of credit                                                3,582,028         16.6
     Residential mortgage                                                                 970,704          4.5
     Other loans                                                                          543,414          2.6
- -------------------------------------------------------------------------------------------------------------------
     Total Consumer                                                                    11,186,939         51.8
- -------------------------------------------------------------------------------------------------------------------
      TOTAL LOANS                                                                    $ 21,601,873        100.0
- -------------------------------------------------------------------------------------------------------------------

 TOTAL LOANS BY BUSINESS SEGMENT
- --------------------------------------------------------------------------
 Regional Banking
    Central Ohio / West Virginia                                                      $ 4,264,143         19.7
    Northern Ohio                                                                       2,694,081         12.5
    Southern Ohio / Kentucky                                                            1,327,355          6.1
    West Michigan                                                                       1,837,094          8.5
    East Michigan                                                                         936,899          4.3
    Indiana                                                                               695,354          3.2
- --------------------------------------------------------------------------------------------------------------------
       Total Regional Banking                                                          11,754,926         54.3
- --------------------------------------------------------------------------------------------------------------------
 Dealer Sales                                                                           6,239,117         29.0
 Private Financial Group                                                                  762,771          3.5
 Treasury / Other                                                                         121,534          0.6
- --------------------------------------------------------------------------------------------------------------------
      TOTAL LOANS EXCLUDING FLORIDA                                                    18,878,348         87.4
- --------------------------------------------------------------------------------------------------------------------
 Florida                                                                                2,723,525         12.6
- --------------------------------------------------------------------------------------------------------------------
      TOTAL LOANS                                                                    $ 21,601,873        100.0
- --------------------------------------------------------------------------------------------------------------------

</TABLE>

 DEPOSIT COMPOSITION BY DEPOSIT TYPE AND BY BUSINESS SEGMENT
- -------------------------------------------------------------------------------
(in thousands)

<TABLE>
<CAPTION>
                                                                                            DECEMBER 31, 2001
- -------------------------------------------------------------------------------      --------------------------------
 BY DEPOSIT TYPE                                                                             BALANCE              %
- --------------------------------------------------------------------------------------------------------------------------
<S>                                                                                         <C>                 <C>
 Demand deposits
      Non-interest bearing                                                                  $ 3,635,173         18.0
      Interest bearing                                                                        5,723,160         28.4
 Savings deposits                                                                             3,466,305         17.2
 Other domestic time deposits                                                                 5,868,451         29.1
- --------------------------------------------------------------------------------------------------------------------------
     TOTAL CORE DEPOSITS (1)                                                                 18,693,089         92.7
- --------------------------------------------------------------------------------------------------------------------------
 Domestic time deposits of $100,000 or more                                                   1,130,563          5.6
 Brokered time deposits and negotiable CDs                                                      137,915          0.7
 Foreign time deposits                                                                          225,737          1.0
- --------------------------------------------------------------------------------------------------------------------------
      TOTAL DEPOSITS                                                                       $ 20,187,304        100.0
- --------------------------------------------------------------------------------------------------------------------------

 TOTAL DEPOSITS BY BUSINESS SEGMENT
- --------------------------------------------------------------------------
 Regional Banking
    Central Ohio / West Virginia                                                            $ 5,217,459         25.8
    Northern Ohio                                                                             3,255,847         16.1
    Southern Ohio / Kentucky                                                                  1,290,832          6.4
    West Michigan                                                                             2,226,500         11.0
    East Michigan                                                                             1,895,470          9.4
    Indiana                                                                                     577,699          2.9
- --------------------------------------------------------------------------------------------------------------------------
       Total Regional Banking                                                                14,463,807         71.6
- --------------------------------------------------------------------------------------------------------------------------
 Dealer Sales                                                                                    82,684          0.4
 Private Financial Group                                                                        716,693          3.6
 Treasury / Other (2)                                                                           256,201          1.3
- --------------------------------------------------------------------------------------------------------------------------
      TOTAL DEPOSITS EXCLUDING FLORIDA                                                       15,519,385         76.9
- --------------------------------------------------------------------------------------------------------------------------
 Florida                                                                                      4,667,919         23.1
- --------------------------------------------------------------------------------------------------------------------------
      TOTAL DEPOSITS                                                                       $ 20,187,304        100.0
- --------------------------------------------------------------------------------------------------------------------------

 TOTAL DEPOSITS BY BUSINESS SEGMENT
- --------------------------------------------------------------------------
 Regional Banking
    Central Ohio / West Virginia                                                            $ 5,217,459         25.8
    Northern Ohio                                                                             3,255,847         16.1
    Southern Ohio / Kentucky                                                                  1,290,832          6.4
    West Michigan                                                                             2,226,500         11.0
    East Michigan                                                                             1,895,470          9.4
    Indiana                                                                                     577,699          2.9
- --------------------------------------------------------------------------------------------------------------------------
       Total Regional Banking                                                                14,463,807         71.6
- --------------------------------------------------------------------------------------------------------------------------
 Dealer Sales                                                                                    82,684          0.4
 Private Financial Group                                                                        716,693          3.6
 Treasury / Other (2)                                                                           256,201          1.3
- --------------------------------------------------------------------------------------------------------------------------
      TOTAL DEPOSITS EXCLUDING FLORIDA                                                       15,519,385         76.9
- --------------------------------------------------------------------------------------------------------------------------
 Florida                                                                                      4,667,919         23.1
- --------------------------------------------------------------------------------------------------------------------------
      TOTAL DEPOSITS                                                                       $ 20,187,304        100.0
- --------------------------------------------------------------------------------------------------------------------------

</TABLE>

 LOAN PORTFOLIO COMPOSITION BY LOAN TYPE AND BY BUSINESS SEGMENT
- -------------------------------------------------------------------------------
 (in thousands)

<TABLE>
<CAPTION>
                                                                                               JUNE 30, 2001
- --------------------------------------------------------------------------------     ---------------------------------
 BY LOAN TYPE                                                                                BALANCE              %
- ----------------------------------------------------------------------------------------------------------------------

<S>                                                                                         <C>                  <C>
Commercial                                                                                  $ 6,753,809          32.0
Commercial real estate                                                                        3,639,811          17.2
- ----------------------------------------------------------------------------------------------------------------------
     Total Commercial and Commercial Real Estate                                             10,393,620          49.2
- ----------------------------------------------------------------------------------------------------------------------
Consumer
     Auto leases - Indirect (unearned income $456,485,
        $500,430, and $524,029)                                                               3,194,592          15.1
     Auto loans - Indirect                                                                    2,675,479          12.7
     Home equity loans & lines of credit                                                      3,406,465          16.1
     Residential mortgage                                                                       844,417           4.0
     Other loans                                                                                613,289           2.9
- ----------------------------------------------------------------------------------------------------------------------
     Total Consumer                                                                          10,734,242          50.8
- ----------------------------------------------------------------------------------------------------------------------
      TOTAL LOANS                                                                          $ 21,127,862         100.0
- ----------------------------------------------------------------------------------------------------------------------

 Total Loans by Business Segment
- --------------------------------------------------------------------------
 Regional Banking
    Central Ohio / West Virginia                                                            $ 4,241,112          20.1
    Northern Ohio                                                                             2,761,361          13.1
    Southern Ohio / Kentucky                                                                  1,286,152           6.1
    West Michigan                                                                             1,845,281           8.7
    East Michigan                                                                               819,537           3.9
    Indiana                                                                                     663,425           3.1
- ----------------------------------------------------------------------------------------------------------------------
       Total Regional Banking                                                                11,616,868          55.0
- ----------------------------------------------------------------------------------------------------------------------
 Dealer Sales                                                                                 6,206,823          29.4
 Private Financial Group                                                                        638,803           3.0
 Treasury / Other                                                                                86,088           0.4
- ----------------------------------------------------------------------------------------------------------------------
      TOTAL LOANS EXCLUDING FLORIDA                                                          18,548,582          87.8
- ----------------------------------------------------------------------------------------------------------------------
 Florida                                                                                      2,579,280          12.2
- ----------------------------------------------------------------------------------------------------------------------
      TOTAL LOANS                                                                          $ 21,127,862         100.0
- ----------------------------------------------------------------------------------------------------------------------

</TABLE>

 DEPOSIT COMPOSITION BY DEPOSIT TYPE AND BY BUSINESS SEGMENT
- -------------------------------------------------------------------------------
(in thousands)

<TABLE>
<CAPTION>
                                                                                              JUNE 30, 2001
- --------------------------------------------------------------------------------    ---------------------------------
 BY DEPOSIT TYPE                                                                             BALANCE             %
- ---------------------------------------------------------------------------------------------------------------------
<S>                                                                                        <C>                  <C>
 Demand deposits
      Non-interest bearing                                                                 $ 3,258,252          17.2
      Interest bearing                                                                       4,878,355          25.7
 Savings deposits                                                                            3,640,318          19.2
 Other domestic time deposits                                                                5,542,738          29.2
- ---------------------------------------------------------------------------------------------------------------------
     TOTAL CORE DEPOSITS (1)                                                                17,319,663          91.3
- ---------------------------------------------------------------------------------------------------------------------
 Domestic time deposits of $100,000 or more                                                  1,167,206           6.1
 Brokered time deposits and negotiable CDs                                                     100,233           0.5
 Foreign time deposits                                                                         409,820           2.1
- ---------------------------------------------------------------------------------------------------------------------
      TOTAL DEPOSITS                                                                      $ 18,996,922         100.0
- ---------------------------------------------------------------------------------------------------------------------

 TOTAL DEPOSITS BY BUSINESS SEGMENT
- --------------------------------------------------------------------------
 Regional Banking
    Central Ohio / West Virginia                                                           $ 4,702,728          24.8
    Northern Ohio                                                                            3,033,586          16.0
    Southern Ohio / Kentucky                                                                 1,206,253           6.3
    West Michigan                                                                            2,207,616          11.6
    East Michigan                                                                            1,741,008           9.2
    Indiana                                                                                    542,694           2.9
- ---------------------------------------------------------------------------------------------------------------------
       Total Regional Banking                                                               13,433,885          70.8
- ---------------------------------------------------------------------------------------------------------------------
 Dealer Sales                                                                                   87,688           0.4
 Private Financial Group                                                                       595,424           3.1
 Treasury / Other (2)                                                                          420,678           2.2
- ---------------------------------------------------------------------------------------------------------------------
      TOTAL DEPOSITS EXCLUDING FLORIDA                                                      14,537,675          76.5
- ---------------------------------------------------------------------------------------------------------------------
 Florida                                                                                     4,459,247          23.5
- ---------------------------------------------------------------------------------------------------------------------
      TOTAL DEPOSITS                                                                      $ 18,996,922         100.0
- ---------------------------------------------------------------------------------------------------------------------

</TABLE>

(1)  Core deposits include non-interest bearing and interest bearing demand
     deposits, savings deposits, CDs under $100,000, and IRA deposits.

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



                                                                       Page 3
<PAGE>


HUNTINGTON BANCSHARES INCORPORATED
- -------------------------------------------------------------------------------
CONSOLIDATED QUARTERLY NET INTEREST MARGIN ANALYSIS
REPORTED BASIS
(in millions)

<TABLE>
<CAPTION>
                                                                                AVERAGE BALANCES
                                                        ------------------------------------------------------------------
                                                                   2002                            2001
- ----------------------------------------------------------------------------------  --------------------------------------
Fully Tax Equivalent Basis (1)                            SECOND         First        Fourth       Third        Second
- --------------------------------------------------------------------------------------------------------------------------
<S>                                                            <C>           <C>          <C>           <C>           <C>
ASSETS
Interest bearing deposits in banks                             $ 29          $ 34         $ 14          $ 5           $ 5
Trading account securities                                        6             5            8            8            39
Federal funds sold and securities purchased
   under resale agreements                                       68            62           86           86            93
Mortgages held for sale                                         174           381          433          344           420
Securities:
      Taxable                                                 2,735         2,713        2,720        2,896         3,368
      Tax exempt                                                 96           101          108          140           201
- --------------------------------------------------------------------------------------------------------------------------
           Total Securities                                   2,831         2,814        2,828        3,036         3,569
- --------------------------------------------------------------------------------------------------------------------------
Loans:
     Commercial                                               5,614         6,045        6,491        6,681         6,741
     Real Estate
          Construction                                        1,420         1,455        1,492        1,388         1,303
          Commercial                                          2,233         2,364        2,397        2,346         2,294
     Consumer
           Auto leases - Indirect                             3,113         3,166        3,229        3,243         3,222
           Auto loans - Indirect                              2,597         2,730        2,903        2,806         2,575
           Home equity loans & lines of credit                2,911         3,209        3,554        3,456         3,344
           Residential mortgage                               1,229         1,021          892          854           942
           Other loans                                          413           482          554          574           600
- --------------------------------------------------------------------------------------------------------------------------
           Total Consumer                                    10,263        10,608       11,132       10,933        10,683
- --------------------------------------------------------------------------------------------------------------------------
Total Loans                                                  19,530        20,472       21,512       21,348        21,021
- --------------------------------------------------------------------------------------------------------------------------
Allowance for loan losses                                       400           415          393          358           316
- --------------------------------------------------------------------------------------------------------------------------
Net loans                                                    19,130        20,057       21,119       20,990        20,705
- --------------------------------------------------------------------------------------------------------------------------
Total earning assets                                         22,638        23,768       24,881       24,827        25,147
- --------------------------------------------------------------------------------------------------------------------------
Cash and due from banks                                         722           819          876          910           910
All other assets                                              1,997         2,372        2,613        2,609         2,608
- --------------------------------------------------------------------------------------------------------------------------
TOTAL ASSETS                                                $24,957      $ 26,544     $ 27,977     $ 27,988      $ 28,349
- --------------------------------------------------------------------------------------------------------------------------

LIABILITIES AND SHAREHOLDERS' EQUITY
Core deposits
     Non-interest bearing deposits                           $2,739       $ 3,041      $ 3,406      $ 3,341       $ 3,252
     Interest bearing demand deposits                         4,920         5,148        5,519        5,096         4,799
     Savings deposits                                         2,808         3,097        3,388        3,472         3,547
     Other domestic time deposits                             4,218         5,015        5,923        5,940         5,718
- --------------------------------------------------------------------------------------------------------------------------
          Total core deposits                                14,685        16,301       18,236       17,849        17,316
- --------------------------------------------------------------------------------------------------------------------------
Domestic time deposits of $100,000 or more                      852         1,052        1,199        1,262         1,294
Brokered time deposits and negotiable CDs                       649           302          109          120           118
Foreign time deposits                                           296           270          230          257           377
- --------------------------------------------------------------------------------------------------------------------------
     Total deposits                                          16,482        17,925       19,774       19,488        19,105
- --------------------------------------------------------------------------------------------------------------------------
Short-term borrowings                                         1,886         1,998        1,907        2,140         2,759
Medium-term notes                                             1,910         1,967        1,863        1,990         2,005
Subordinated notes and other long-term debt,
   including preferred capital securities                     1,229         1,233        1,183        1,184         1,180
- --------------------------------------------------------------------------------------------------------------------------
     Total interest bearing liabilities                      18,768        20,082       21,321       21,461        21,797
- --------------------------------------------------------------------------------------------------------------------------
All other liabilities                                         1,107         1,051          889          811           897
Shareholders' equity                                          2,343         2,370        2,361        2,375         2,403
- --------------------------------------------------------------------------------------------------------------------------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY                  $24,957      $ 26,544     $ 27,977     $ 27,988      $ 28,349
- --------------------------------------------------------------------------------------------------------------------------

</TABLE>



(1)  Fully tax equivalent yields are calculated assuming a 35% tax rate.


                                                                       Page 4
<PAGE>


HUNTINGTON BANCSHARES INCORPORATED
- -------------------------------------------------------------------------------
CONSOLIDATED QUARTERLY NET INTEREST MARGIN ANALYSIS
REPORTED BASIS
(in millions)
<TABLE>
<CAPTION>

                                                                                AVERAGE RATES (3)
                                                         -------------------------------------------------------------
                                                                  2002                           2001
- ------------------------------------------------------------------------------------  --------------------------------
Fully Tax Equivalent Basis (1)                           SECOND         First         Fourth     Third      Second
- ----------------------------------------------------------------------------------------------------------------------
<S>                                                          <C>           <C>         <C>        <C>         <C>

ASSETS
Interest bearing deposits in banks                           2.44%         2.02%       2.09%      3.75%       5.09%
Trading account securities                                   5.37          2.79        3.59       3.83        5.15
Federal funds sold and securities purchased
   under resale agreements                                   1.51          1.43        2.18       3.20        4.21
Mortgages held for sale                                      7.07          6.51        6.64       7.18        6.96
Securities:
      Taxable                                                6.33          6.43        6.62       6.71        6.26
      Tax exempt                                             7.69          7.76        7.81       7.38        7.26
- ----------------------------------------------------------------------------------------------------------------------
           Total Securities                                  6.37          6.48        6.66       6.75        6.32
- ----------------------------------------------------------------------------------------------------------------------
Loans:
     Commercial                                              5.50          5.39        5.86       6.92        7.44
     Real Estate
          Construction                                       4.81          4.91        5.50       6.62        7.43
          Commercial                                         6.36          6.62        6.85       7.54        7.92
     Consumer
           Auto leases - Indirect                            6.42          6.62        6.58       6.67        6.71
           Auto loans - Indirect                             7.98          8.03        8.24       8.45        8.70
           Home equity loans & lines of credit               5.72          6.30        7.20       7.87        8.56
           Residential mortgage                              6.23          6.57        7.17       7.54        7.72
           Other loans                                       7.47          7.41        8.12       7.89        8.01
- ----------------------------------------------------------------------------------------------------------------------
           Total Consumer                                    6.64          6.92        7.34       7.65        7.94
- ----------------------------------------------------------------------------------------------------------------------
Total Loans                                                  6.15          6.29        6.71       7.34        7.75
- ----------------------------------------------------------------------------------------------------------------------
Loan fees                                                    0.55          0.48        0.51       0.53        0.56
- ----------------------------------------------------------------------------------------------------------------------
Total Loans with fees (2)                                    6.70          6.77        7.22       7.87        8.31
- ----------------------------------------------------------------------------------------------------------------------
Total earning assets                                         6.64%         6.71%       7.12%      7.70%       7.98%
- ----------------------------------------------------------------------------------------------------------------------




LIABILITIES AND SHAREHOLDERS' EQUITY
Core deposits
     Non-interest bearing deposits
     Interest bearing demand deposits                        1.84%         1.80%       2.00%      2.74%       2.87%
     Savings deposits                                        1.83          1.87        2.11       3.00        3.42
     Other domestic time deposits                            4.61          4.99        5.19       5.52        5.83
- ----------------------------------------------------------------------------------------------------------------------
          Total core deposits                                2.29          2.46        2.68       3.20        3.42
- ----------------------------------------------------------------------------------------------------------------------
Domestic time deposits of $100,000 or more                   2.82          3.05        4.68       4.82        5.33
Brokered time deposits and negotiable CDs                    2.48          2.48        3.55       4.42        5.57
Foreign time deposits                                        1.38          1.91        1.99       3.39        4.11
- ----------------------------------------------------------------------------------------------------------------------
     Total deposits                                          2.31          2.49        2.80       3.32        3.58
- ----------------------------------------------------------------------------------------------------------------------
Short-term borrowings                                        1.97          2.36        2.65       3.69        4.37
Medium-term notes                                            3.21          3.43        4.58       6.12        6.59
Subordinated notes and other long-term debt,
   including preferred capital securities                    4.05          4.14        4.96       5.19        5.96
- ----------------------------------------------------------------------------------------------------------------------
     Total interest bearing liabilities                      2.82%         3.04%       3.51%      4.23%       4.62%
- ----------------------------------------------------------------------------------------------------------------------



Net interest rate spread                                     3.82%         3.67%       3.61%      3.47%       3.36%
Impact of non-interest bearing funds on margin               0.48          0.47        0.50       0.57        0.61
- ----------------------------------------------------------------------------------------------------------------------
NET INTEREST MARGIN                                          4.30%         4.14%       4.11%      4.04%       3.97%
- ----------------------------------------------------------------------------------------------------------------------

</TABLE>

(1)  Fully tax equivalent yields are calculated assuming a 35% tax rate.

(2)  Total loans with fees rate includes loan fees, whereas individual loan
     components above are shown exclusive of fees.

(3)  Loan and deposit average rates include impact of applicable derivatives.



                                                                       Page 5
<PAGE>


                       HUNTINGTON BANCSHARES INCORPORATED
                    SELECTED QUARTERLY INCOME STATEMENT DATA
                                 REPORTED BASIS

<TABLE>
<CAPTION>

                                                                                        2002
- ------------------------------------------------------------------------------------------------------------------
(in thousands, except per share amounts)                                       SECOND               First
- ------------------------------------------------------------------------------------------------------------------
<S>                                                                           <C>                 <C>

NET INTEREST INCOME                                                           $241,859            $ 242,825
Provision for loan losses                                                       53,892               55,781
- ------------------------------------------------------------------------------------------------------------------
NET INTEREST INCOME AFTER
  PROVISION FOR LOAN LOSSES                                                    187,967              187,044
- ------------------------------------------------------------------------------------------------------------------
Service charges on deposit accounts                                             35,354               38,530
Brokerage and insurance income                                                  17,677               18,792
Trust services                                                                  16,247               15,501
Mortgage banking                                                                10,725               19,565
Bank Owned Life Insurance income                                                11,443               11,676
Other service charges and fees                                                  10,529               10,632
Other                                                                           15,039               10,931
- ------------------------------------------------------------------------------------------------------------------
TOTAL NON-INTEREST INCOME BEFORE GAIN ON SALE
   OF FLORIDA OPERATIONS AND SECURITIES GAINS (LOSSES)                         117,014              125,627
Gain on sale of Florida operations                                                 ---              175,344
Securities gains (losses)                                                          966                  457
- ------------------------------------------------------------------------------------------------------------------
TOTAL NON-INTEREST INCOME                                                      117,980              301,428
- ------------------------------------------------------------------------------------------------------------------
Personnel costs                                                                105,146              114,285
Outside data processing and other services                                      16,592               18,439
Equipment                                                                       16,659               16,949
Net occupancy                                                                   14,756               17,239
Marketing                                                                        7,231                7,003
Professional services                                                            6,267                5,401
Telecommunications                                                               5,320                6,018
Printing and supplies                                                            3,683                3,837
Franchise and other taxes                                                        2,313                2,328
Amortization of intangible assets                                                  235                1,376
Other                                                                           13,858               14,511
- ------------------------------------------------------------------------------------------------------------------
TOTAL NON-INTEREST EXPENSE BEFORE SPECIAL CHARGES                              192,060              207,386
Special charges                                                                    ---               56,184
- ------------------------------------------------------------------------------------------------------------------
TOTAL NON-INTEREST EXPENSE AFTER SPECIAL CHARGES                               192,060              263,570
- ------------------------------------------------------------------------------------------------------------------
INCOME (LOSS) BEFORE INCOME TAXES                                              113,887              224,902
Income taxes                                                                    31,647              127,175
- ------------------------------------------------------------------------------------------------------------------
NET INCOME                                                                    $ 82,240             $ 97,727
- ------------------------------------------------------------------------------------------------------------------

PER COMMON SHARE
   Net Income - Diluted                                                          $0.33                $0.39
   Cash Dividends Declared                                                       $0.16                $0.16

RETURN ON:
   Average total assets                                                          1.32%                1.49%
   Average total shareholders' equity                                            14.1%                16.7%
Net interest margin (1)                                                          4.30%                4.14%
Efficiency ratio (2)                                                             53.3%                55.7%

REVENUE - FULLY TAXABLE EQUIVALENT (FTE)
Net Interest Income                                                           $241,859            $ 242,825
Tax Equivalent Adjustment (1)                                                    1,071                1,169
- ------------------------------------------------------------------------------------------------------------------
Net Interest Income                                                            242,930              243,994
Non-Interest Income                                                            117,980              301,428
- ------------------------------------------------------------------------------------------------------------------
TOTAL REVENUE                                                                 $360,910            $ 545,422
- ------------------------------------------------------------------------------------------------------------------

TOTAL REVENUE EXCLUDING SECURITIES GAINS (LOSSES)                             $359,944            $ 544,965
- ------------------------------------------------------------------------------------------------------------------

</TABLE>


<TABLE>
<CAPTION>

                                                                                                   2001
- ------------------------------------------------------------------------ --------------------------------------------------------
(in thousands, except per share amounts)                                       Fourth               Third               Second
- ---------------------------------------------------------------------------------------------------------------------------------
<S>                                                                           <C>                  <C>                  <C>

NET INTEREST INCOME                                                           $255,238             $249,787             $248,033
Provision for loan losses                                                      108,275               49,559              117,495
- ---------------------------------------------------------------------------------------------------------------------------------
NET INTEREST INCOME AFTER
  PROVISION FOR LOAN LOSSES                                                    146,963              200,228              130,538
- ---------------------------------------------------------------------------------------------------------------------------------
Service charges on deposit accounts                                             42,753               41,719               40,673
Brokerage and insurance income                                                  20,966               19,912               19,388
Trust services                                                                  15,321               15,485               15,178
Mortgage banking                                                                15,768               14,616               18,733
Bank Owned Life Insurance income                                                 9,560                9,560                9,561
Other service charges and fees                                                  12,552               12,350               12,217
Other                                                                           16,088               15,755               14,956
- ---------------------------------------------------------------------------------------------------------------------------------
TOTAL NON-INTEREST INCOME BEFORE GAIN ON SALE
   OF FLORIDA OPERATIONS AND SECURITIES GAINS (LOSSES)                         133,008              129,397              130,706
Gain on sale of Florida operations                                                 ---                  ---                  ---
Securities gains (losses)                                                           89                1,059               (2,503)
- ---------------------------------------------------------------------------------------------------------------------------------
TOTAL NON-INTEREST INCOME                                                      133,097              130,456              128,203
- ---------------------------------------------------------------------------------------------------------------------------------
Personnel costs                                                                118,143              120,767              122,068
Outside data processing and other services                                      17,992               17,375               17,671
Equipment                                                                       20,593               20,151               19,844
Net occupancy                                                                   19,950               19,266               18,188
Marketing                                                                        6,345                6,921                7,852
Professional services                                                            6,235                5,912                6,763
Telecommunications                                                               6,793                6,859                7,207
Printing and supplies                                                            4,293                4,450                4,565
Franchise and other taxes                                                        2,893                2,470                2,246
Amortization of intangible assets                                               10,100               10,114               10,435
Other                                                                           14,017               14,605               16,457
- ---------------------------------------------------------------------------------------------------------------------------------
TOTAL NON-INTEREST EXPENSE BEFORE SPECIAL CHARGES                              227,354              228,890              233,296
Special charges                                                                 15,143               50,817               33,997
- ---------------------------------------------------------------------------------------------------------------------------------
TOTAL NON-INTEREST EXPENSE AFTER SPECIAL CHARGES                               242,497              279,707              267,293
- ---------------------------------------------------------------------------------------------------------------------------------
INCOME (LOSS) BEFORE INCOME TAXES                                               37,563               50,977               (8,552)
Income taxes                                                                   (28,086)               8,348              (10,929)
- ---------------------------------------------------------------------------------------------------------------------------------
NET INCOME                                                                    $ 65,649             $ 42,629              $ 2,377
- ---------------------------------------------------------------------------------------------------------------------------------

PER COMMON SHARE
   Net Income - Diluted                                                          $0.26                $0.17                $0.01
   Cash Dividends Declared                                                       $0.16                $0.16                $0.20

RETURN ON:
   Average total assets                                                          0.93%                0.60%                0.03%
   Average total shareholders' equity                                            11.0%                 7.1%                 0.4%
Net interest margin (1)                                                          4.11%                4.04%                3.97%
Efficiency ratio (2)                                                             55.8%                57.5%                58.6%

REVENUE - FULLY TAXABLE EQUIVALENT (FTE)
Net Interest Income                                                           $255,238             $249,787             $248,033
Tax Equivalent Adjustment (1)                                                    1,292                1,442                1,616
- ---------------------------------------------------------------------------------------------------------------------------------
Net Interest Income                                                            256,530              251,229              249,649
Non-Interest Income                                                            133,097              130,456              128,203
- ---------------------------------------------------------------------------------------------------------------------------------
TOTAL REVENUE                                                                 $389,627             $381,685             $377,852
- ---------------------------------------------------------------------------------------------------------------------------------

TOTAL REVENUE EXCLUDING SECURITIES GAINS (LOSSES)                             $389,538             $380,626             $380,355
- ---------------------------------------------------------------------------------------------------------------------------------

</TABLE>

(1)  Calculated assuming a 35% tax rate.

(2)  Excludes gain on sale of Florida operations and special charges.




                                                                       Page 6
<PAGE>


                       HUNTINGTON BANCSHARES INCORPORATED
                  LOAN LOSS RESERVE AND NET CHARGE-OFF ANALYSIS
                                 REPORTED BASIS

<TABLE>
<CAPTION>

                                                                                             2002
- ---------------------------------------------------------------------------------------------------------------------
(in thousands)                                                                    SECOND                First
- ------------------------------------------------------------------------------------------------------------------------

<S>                                                                               <C>                  <C>
ALLOWANCE FOR LOAN LOSSES, BEGINNING OF PERIOD                                    $386,053             $410,572

Loan losses                                                                        (57,482)             (67,527)
Recoveries of loans previously charged off                                          12,582               11,746
- ------------------------------------------------------------------------------------------------------------------------
   Net loan losses                                                                 (44,900)             (55,781)
- ------------------------------------------------------------------------------------------------------------------------

Allowance of assets sold                                                               ---              (22,297)
Allowance of securitized loans                                                      (2,034)              (2,222)
Provision for loan losses                                                           53,892               55,781
- ------------------------------------------------------------------------------------------------------------------------
ALLOWANCE FOR LOAN LOSSES, END OF PERIOD                                          $393,011             $386,053
- ------------------------------------------------------------------------------------------------------------------------

Allowance for loan losses as a % of total loans                                       2.00%                2.00%
Allowance for loan losses as a % of non-performing loans                             185.3%               175.9%
Allowance for loan losses and OREO as a % of
   non-performing assets                                                             175.7%               170.9%


NET CHARGE-OFFS BY LOAN TYPE

Commercial                                                                        $ 21,528             $ 19,586
Commercial real estate                                                               2,037                3,983
- ------------------------------------------------------------------------------------------------------------------------
   Total commercial and commercial real estate                                      23,565               23,569

Consumer
   Auto leases                                                                       8,401               12,809
   Auto loans                                                                        7,356               12,759
   Home equity loans & lines of credit                                               3,096                3,950
   Residential mortgage                                                                555                  122
   Other loans                                                                       1,927                2,572
- ------------------------------------------------------------------------------------------------------------------------
      Total consumer                                                                21,335               32,212
- ------------------------------------------------------------------------------------------------------------------------
TOTAL NET CHARGE-OFFS                                                             $ 44,900             $ 55,781
- ------------------------------------------------------------------------------------------------------------------------


NET CHARGE-OFFS - ANNUALIZED PERCENTAGES

Commercial                                                                            1.54%                1.31%
Commercial real estate                                                                0.22                 0.42
- ------------------------------------------------------------------------------------------------------------------------
   Total commercial and commercial real estate                                        1.02                 0.97

Consumer
   Auto leases                                                                        1.08                 1.64
   Auto loans                                                                         1.14                 1.90
   Home equity loans & lines of credit                                                0.43                 0.50
   Residential mortgage                                                               0.18                 0.05
   Other loans                                                                        1.87                 2.16
- ------------------------------------------------------------------------------------------------------------------------
      Total consumer                                                                  0.83                 1.23
- ------------------------------------------------------------------------------------------------------------------------
TOTAL NET CHARGE-OFFS                                                                 0.92%                1.11%
- ------------------------------------------------------------------------------------------------------------------------

NET CHARGE-OFFS AS A% OF AVERAGE LOANS - EXCLUDING
   EXITED BUSINESSES                                                                  0.88%               1.04%
- ------------------------------------------------------------------------------------------------------------------------

</TABLE>

<TABLE>
<CAPTION>

                                                                                                    2001
- ---------------------------------------------------------------     -----------------------------------------------------------
(in thousands)                                                           Fourth                Third                Second
- -------------------------------------------------------------------------------------------------------------------------------

<S>                                                                     <C>                   <C>                  <C>
ALLOWANCE FOR LOAN LOSSES, BEGINNING OF PERIOD                          $360,446              $352,243             $301,777

Loan losses                                                              (66,808)              (49,386)             (75,472)
Recoveries of loans previously charged off                                10,662                 9,643               10,007
- -------------------------------------------------------------------------------------------------------------------------------
   Net loan losses                                                       (56,146)              (39,743)             (65,465)
- -------------------------------------------------------------------------------------------------------------------------------

Allowance of assets sold                                                     ---                   ---                  ---
Allowance of securitized loans                                            (2,003)               (1,613)              (1,564)
Provision for loan losses                                                108,275                49,559              117,495
- -------------------------------------------------------------------------------------------------------------------------------
ALLOWANCE FOR LOAN LOSSES, END OF PERIOD                                $410,572              $360,446             $352,243
- -------------------------------------------------------------------------------------------------------------------------------

Allowance for loan losses as a % of total loans                             1.90%                 1.67%                1.67%
Allowance for loan losses as a % of non-performing loans                   185.7%                178.4%               225.7%
Allowance for loan losses and OREO as a % of
   non-performing assets                                                   180.1%                171.1%               211.2%


NET CHARGE-OFFS BY LOAN TYPE

Commercial                                                              $ 22,555              $ 10,141             $ 13,190
Commercial real estate                                                       797                     3                1,624
- -------------------------------------------------------------------------------------------------------------------------------
   Total commercial and commercial real estate                            23,352                10,144               14,814

Consumer
   Auto leases                                                            12,634                10,395               17,535
   Auto loans                                                             13,106                11,306               24,568
   Home equity loans & lines of credit                                     4,153                 4,866                2,936
   Residential mortgage                                                      376                   109                  241
   Other loans                                                             2,525                 2,923                5,371
- -------------------------------------------------------------------------------------------------------------------------------
      Total consumer                                                      32,794                29,599               50,651
- -------------------------------------------------------------------------------------------------------------------------------
TOTAL NET CHARGE-OFFS                                                   $ 56,146              $ 39,743             $ 65,465
- -------------------------------------------------------------------------------------------------------------------------------


NET CHARGE-OFFS - ANNUALIZED PERCENTAGES

Commercial                                                                 1.38%                  0.60%                0.78%
Commercial real estate                                                      0.08                  0.00                 0.18
- -------------------------------------------------------------------------------------------------------------------------------
   Total commercial and commercial real estate                              0.89                  0.39                 0.57

Consumer
   Auto leases                                                              1.55                  1.27                 2.17
   Auto loans                                                               1.79                  1.60                 3.83
   Home equity loans & lines of credit                                      0.46                  0.56                 0.35
   Residential mortgage                                                     0.17                  0.05                 0.10
   Other loans                                                              1.81                  2.02                 3.59
- -------------------------------------------------------------------------------------------------------------------------------
      Total consumer                                                        1.17                  1.07                 1.90
- -------------------------------------------------------------------------------------------------------------------------------
TOTAL NET CHARGE-OFFS                                                       1.04%                 0.74%                1.25%
- -------------------------------------------------------------------------------------------------------------------------------

NET CHARGE-OFFS AS A% OF AVERAGE LOANS - EXCLUDING
   EXITED BUSINESSES                                                        0.98%                 0.61%                0.73%
- -------------------------------------------------------------------------------------------------------------------------------

</TABLE>




                                                                       Page 7
<PAGE>


                       HUNTINGTON BANCSHARES INCORPORATED
                    NON-PERFORMING ASSETS AND PAST DUE LOANS
                                 REPORTED BASIS

<TABLE>
<CAPTION>

                                                                                         2002
- ----------------------------------------------------------------------------------------------------------------
(in thousands)                                                               SECOND               First
- ----------------------------------------------------------------------------------------------------------------
<S>                                                                         <C>                  <C>

Non-accrual loans:
   Commercial                                                               $ 156,252            $ 162,959
   Commercial real estate                                                      45,795               43,295
   Residential mortgage                                                         8,776               11,896
- ----------------------------------------------------------------------------------------------------------------
Total Nonaccrual Loans                                                        210,823              218,150
Renegotiated loans                                                              1,268                1,268
- ----------------------------------------------------------------------------------------------------------------
TOTAL NON-PERFORMING LOANS                                                    212,091              219,418
Other real estate, net                                                         11,146                6,112
- ----------------------------------------------------------------------------------------------------------------
TOTAL NON-PERFORMING ASSETS                                                 $ 223,237            $ 225,530
- ----------------------------------------------------------------------------------------------------------------


Non-performing loans as a % of total loans                                       1.08%                1.13%
Non-performing assets as a % of total loans
   and other real estate                                                         1.14%                1.17%


ACCRUING LOANS PAST DUE 90 DAYS OR MORE                                      $ 58,449             $ 61,746

</TABLE>

<TABLE>
<CAPTION>

                                                                                          2002
- ----------------------------------------------------------------------------------------------------------------
(in thousands)                                                               SECOND               First
- ----------------------------------------------------------------------------------------------------------------

<S>                                                                         <C>                  <C>
NON-PERFORMING ASSETS, BEGINNING OF PERIOD                                  $ 225,530            $ 227,493
New non-performing assets                                                      73,002               74,446
Loan losses                                                                   (28,297)             (26,072)
Payments                                                                      (44,303)             (37,663)
Sales                                                                          (2,358)              (8,925)(1)
Other                                                                            (337)              (3,749)
- ----------------------------------------------------------------------------------------------------------------
NON-PERFORMING ASSETS, END OF PERIOD                                        $ 223,237            $ 225,530
- ----------------------------------------------------------------------------------------------------------------

</TABLE>

<TABLE>
<CAPTION>

                                                                                              2001
- ---------------------------------------------------------------------------------------------------------------------------
(in thousands)                                                          Fourth                Third               Second
- ---------------------------------------------------------------------------------------------------------------------------
<S>                                                                    <C>                  <C>                  <C>

Non-accrual loans:
   Commercial                                                          $ 159,637            $ 148,177            $ 116,044
   Commercial real estate                                                 48,360               40,882               26,870
   Residential mortgage                                                   11,836               11,666               11,868
- ---------------------------------------------------------------------------------------------------------------------------
Total Nonaccrual Loans                                                   219,833              200,725              154,782
Renegotiated loans                                                         1,276                1,286                1,290
- ---------------------------------------------------------------------------------------------------------------------------
TOTAL NON-PERFORMING LOANS                                               221,109              202,011              156,072
Other real estate, net                                                     6,384                8,050                9,913
- ---------------------------------------------------------------------------------------------------------------------------
TOTAL NON-PERFORMING ASSETS                                            $ 227,493            $ 210,061            $ 165,985
- ---------------------------------------------------------------------------------------------------------------------------


Non-performing loans as a % of total loans                                  1.02%                0.94%                0.74%
Non-performing assets as a % of total loans
   and other real estate                                                    1.05%                0.97%                0.79%


ACCRUING LOANS PAST DUE 90 DAYS OR MORE                                 $ 91,635             $ 92,791             $ 67,077

</TABLE>

<TABLE>
<CAPTION>

                                                                                             2001
- ---------------------------------------------------------------------------------------------------------------------------
(in thousands)                                                          Fourth                Third               Second
- ---------------------------------------------------------------------------------------------------------------------------

<S>                                                                    <C>                  <C>                  <C>
NON-PERFORMING ASSETS, BEGINNING OF PERIOD                             $ 210,061            $ 165,985            $ 124,886
New non-performing assets                                                 85,986               94,990               95,037(2)
Loan losses                                                              (34,580)             (12,480)             (13,188)
Payments                                                                 (28,315)             (34,219)             (19,332)
Sales                                                                     (4,131)              (3,331)             (21,306)(2)
Other                                                                     (1,528)                (884)                (112)
- ---------------------------------------------------------------------------------------------------------------------------
NON-PERFORMING ASSETS, END OF PERIOD                                   $ 227,493            $ 210,061            $ 165,985
- ---------------------------------------------------------------------------------------------------------------------------

</TABLE>



(1)  Includes $6.5 million related to the sale of Florida operations.

(2)  Includes $14.9 million related to investment in Pacific Gas & Electric
     commercial paper.


                                                                       Page 8
<PAGE>


                       HUNTINGTON BANCSHARES INCORPORATED
                     STOCK SUMMARY, CAPITAL, AND OTHER DATA
                                 REPORTED BASIS

<TABLE>
<CAPTION>

                                                                                      2002
- --------------------------------------------------------------------------------------------------------------
                                                                            SECOND            First
- --------------------------------------------------------------------------------------------------------------

<S>                                                                     <C>               <C>
High                                                                    $     21.770      $     20.310
Low                                                                           18.590            16.660
Close                                                                         19.420            19.700
Average Closing Price                                                         20.089            18.332
Cash dividends declared                                                 $       0.16      $       0.16


Note: Intra-day and closing stock price quotations were obtained from NASDAQ.

- --------------------------------------------------------------------------------------------------------------

</TABLE>


<TABLE>
<CAPTION>
CAPITAL DATA - END OF PERIOD
                                                                                         2002
- --------------------------------------------------------------------------------------------------------------
(in millions)                                                                SECOND (1)          First
- --------------------------------------------------------------------------------------------------------------

<S>                                                                          <C>               <C>
Total Risk-Adjusted Assets                                                   $ 25,320          $ 24,935

Tier 1 Risk-Based Capital Ratio                                                 9.72%            10.26%
Total Risk-Based Capital Ratio                                                 12.75%            13.40%
Tier 1 Leverage Ratio                                                           9.94%             9.72%

Tangible Equity / Asset Ratio                                                   8.41%             9.03%

- --------------------------------------------------------------------------------------------------------------

</TABLE>


<TABLE>
<CAPTION>
OTHER DATA - END OF PERIOD
                                                                                          2002
- --------------------------------------------------------------------------------------------------------------
                                                                                SECOND            First
- --------------------------------------------------------------------------------------------------------------
<S>                                                                             <C>               <C>

Number of employees (full-time equivalent)
   Huntington, excluding Florida operations                                     8,174             8,342
   Florida operations (2)                                                         ---               ---
- --------------------------------------------------------------------------------------------------------------
   Total Huntington                                                             8,174             8,342
- --------------------------------------------------------------------------------------------------------------

</TABLE>


<TABLE>
<CAPTION>

                                                                                                    2001
- -----------------------------------------------------------------------     ------------------------------------------------------
                                                                                 Fourth              Third              Second
- ----------------------------------------------------------------------------------------------------------------------------------

<S>                                                                          <C>                 <C>                <C>
High                                                                         $     17.490        $     19.280       $     17.000
Low                                                                                14.510              15.150             13.875
Close                                                                              17.190              17.310             16.375
Average Closing Price                                                              16.269              17.696             14.936
Cash dividends declared                                                      $       0.16        $       0.16       $       0.20


Note: Intra-day and closing stock price quotations were
obtained from NASDAQ.

- ----------------------------------------------------------------------------------------------------------------------------------

</TABLE>


<TABLE>
<CAPTION>
CAPITAL DATA - END OF PERIOD
                                                                                                        2001
- -----------------------------------------------------------------------     ------------------------------------------------------
(in millions)                                                                       Fourth              Third              Second
- ----------------------------------------------------------------------------------------------------------------------------------

<S>                                                                               <C>                 <C>                <C>
Total Risk-Adjusted Assets                                                        $ 27,896            $ 27,757           $ 27,375

Tier 1 Risk-Based Capital Ratio                                                      7.24%               6.97%               7.01%
Total Risk-Based Capital Ratio                                                      10.29%              10.13%              10.20%
Tier 1 Leverage Ratio                                                                7.41%               7.10%               6.96%

Tangible Equity / Asset Ratio                                                        6.04%               5.96%               5.97%

</TABLE>


<TABLE>
<CAPTION>
OTHER DATA - END OF PERIOD
                                                                                                     2001
- ----------------------------------------------------------------------- ---------------------------------------------------------
                                                                                    Fourth              Third              Second
- ---------------------------------------------------------------------------------------------------------------------------------
<S>                                                                              <C>                 <C>                <C>

Number of employees (full-time equivalent)
   Huntington, excluding Florida operations                                         8,521               8,487               8,566
   Florida operations (2)                                                           1,222               1,232               1,215
- ---------------------------------------------------------------------------------------------------------------------------------
   Total Huntington                                                                 9,743               9,719               9,781
- ---------------------------------------------------------------------------------------------------------------------------------

</TABLE>

(1)  Estimated.

(2)  Excludes impact of support staff for Florida operations outside of Florida.



                                                                       Page 9
<PAGE>































SUPPLEMENTAL SELECTED INFORMATION -- OPERATING BASIS


         EXCLUDES:
             -    RESULTS OF FLORIDA OPERATIONS
             -    GAIN FROM SALES OF FLORIDA OPERATIONS
             -    RESTRUCTURING AND OTHER CHARGES
























                                                                         Page 10
<PAGE>


                       HUNTINGTON BANCSHARES INCORPORATED
                        CONSOLIDATED STATEMENTS OF INCOME
                               OPERATING BASIS (1)

<TABLE>
<CAPTION>

 THREE MONTHS ENDED JUNE 30,
- ---------------------------------------------------------------------------------------------------------
(in thousands, except per share amounts)                                      2002                2001
- ---------------------------------------------------------------------------------------------------------
<S>                                                                       <C>                   <C>
Net Interest Income                                                       $ 241,859             $225,883
Provision for loan losses                                                    53,892               41,937
- ---------------------------------------------------------------------------------------------------------
               NET INTEREST INCOME
                    AFTER PROVISION FOR LOAN LOSSES                         187,967              183,946
- ---------------------------------------------------------------------------------------------------------

Total non-interest income                                                   115,270              113,608
Total non-interest expense                                                  190,185              192,443
- ---------------------------------------------------------------------------------------------------------

               INCOME BEFORE INCOME TAXES                                   113,052              105,111
Income taxes                                                                 31,344               29,509
- ---------------------------------------------------------------------------------------------------------
               NET INCOME                                                  $ 81,708             $ 75,602
- ---------------------------------------------------------------------------------------------------------

  PER COMMON SHARE
     Net income
          Basic                                                               $0.33                $0.30
          Diluted                                                             $0.33                $0.30

     Cash dividends declared                                                  $0.16                $0.20

  AVERAGE COMMON SHARES
          Basic                                                             246,106              251,024
          Diluted                                                           247,867              251,448

- -----------------------------------------------------------------------------------------------------------------

</TABLE>

<TABLE>
<CAPTION>

 SIX MONTHS ENDED JUNE 30,
- ---------------------------------------------------------------------------------------------------------
(in thousands, except per share amounts)                                      2002                2001
- ---------------------------------------------------------------------------------------------------------
<S>                                                                       <C>                   <C>
Net Interest Income                                                       $ 474,960             $447,901
Provision for loan losses                                                   104,487               71,646
- ---------------------------------------------------------------------------------------------------------
               NET INTEREST INCOME
                    AFTER PROVISION FOR LOAN LOSSES                         370,473              376,255
- ---------------------------------------------------------------------------------------------------------

Total non-interest income                                                   230,721              212,259
Total non-interest expense                                                  379,236              386,260
- ---------------------------------------------------------------------------------------------------------

               INCOME BEFORE INCOME TAXES                                   221,958              202,254
Income taxes                                                                 60,737               55,197
- ---------------------------------------------------------------------------------------------------------
               NET INCOME                                                 $ 161,221             $147,057
- ---------------------------------------------------------------------------------------------------------

  PER COMMON SHARE
     Net income
          Basic                                                               $0.65                $0.58
          Diluted                                                             $0.65                $0.58

     Cash dividends declared                                                  $0.32                $0.40

  AVERAGE COMMON SHARES
          Basic                                                             248,415              250,984
          Diluted                                                           249,946              251,479

</TABLE>

<TABLE>
<CAPTION>

 THREE MONTHS ENDED JUNE 30,                                                                CHANGE
- ----------------------------------------------------------------------        -----------------------------------
(in thousands, except per share amounts)                                         Amount              Percent
- ----------------------------------------------------------------------        -----------------------------------
<S>                                                                               <C>                    <C>
Net Interest Income                                                             $ 15,976               7.1%
Provision for loan losses                                                         11,955              28.5
- ----------------------------------------------------------------------        -----------------------------------
               NET INTEREST INCOME
                    AFTER PROVISION FOR LOAN LOSSES                                4,021               2.2
- ----------------------------------------------------------------------        -----------------------------------

Total non-interest income                                                          1,662               1.5
Total non-interest expense                                                        (2,258)             (1.2)
- ----------------------------------------------------------------------        -----------------------------------

               INCOME BEFORE INCOME TAXES                                          7,941               7.6
Income taxes                                                                       1,835               6.2
- ----------------------------------------------------------------------        -----------------------------------
               NET INCOME                                                        $ 6,106               8.1%
- ----------------------------------------------------------------------        -----------------------------------

  PER COMMON SHARE
     Net income
          Basic                                                                   $ 0.03              10.0%
          Diluted                                                                 $ 0.03              10.0%

     Cash dividends declared                                                     $ (0.04)            (20.0)%

  AVERAGE COMMON SHARES
          Basic                                                                   (4,918)             (2.0)%
          Diluted                                                                 (3,581)             (1.4)%

- ----------------------------------------------------------------------

</TABLE>

<TABLE>
<CAPTION>

 SIX MONTHS ENDED JUNE 30,                                                              CHANGE
- ----------------------------------------------------------------------      -----------------------------------
(in thousands, except per share amounts)                                         Amount              Percent
- ----------------------------------------------------------------------      -----------------------------------
<S>                                                                             <C>                    <C>
Net Interest Income                                                             $ 27,059               6.0%
Provision for loan losses                                                         32,841              45.8
- ----------------------------------------------------------------------      -----------------------------------
               NET INTEREST INCOME
                    AFTER PROVISION FOR LOAN LOSSES                               (5,782)             (1.5)
- ----------------------------------------------------------------------      -----------------------------------

Total non-interest income                                                         18,462               8.7
Total non-interest expense                                                        (7,024)             (1.8)
- ----------------------------------------------------------------------      -----------------------------------

               INCOME BEFORE INCOME TAXES                                         19,704               9.7
Income taxes                                                                       5,540              10.0
- ----------------------------------------------------------------------      -----------------------------------
               NET INCOME                                                       $ 14,164               9.6%
- ----------------------------------------------------------------------      -----------------------------------

  PER COMMON SHARE
     Net income
          Basic                                                                   $ 0.07              12.1%
          Diluted                                                                 $ 0.07              12.1%

     Cash dividends declared                                                     $ (0.08)            (20.0)%

  AVERAGE COMMON SHARES
          Basic                                                                   (2,569)             (1.0)%
          Diluted                                                                 (1,533)             (0.6)%

</TABLE>



(1)  See page 10 for definition of Operating Basis.
     of related income taxes. The first six months of 2002 excludes the pre-tax
     impact of the $175.3 million gain on the sale of the Florida operations
     along with $56.2 million of restructuring and other charges and $98.9
     million of related income taxes. The first six months of 2001 excludes
     $111.0 million of pre-tax restructuring and other charges and $38.8 million
     of related income taxes. All periods presented also exclude the results of
     the Florida operations, including the J. Rolfe Davis Insurance Agency, Inc.
     up to the date of sale in the second quarter 2002.




                                                                        Page 11

<PAGE>



                       HUNTINGTON BANCSHARES INCORPORATED
                               LOANS AND DEPOSITS
                               OPERATING BASIS (1)

<TABLE>
<CAPTION>

                                                                                                2002
- --------------------------------------------------------------------------------------------------------------------
(in thousands)                                                                       SECOND                First
- --------------------------------------------------------------------------------------------------------------------
<S>                                                                                <C>                  <C>

LOAN PORTFOLIO COMPOSITION - AVERAGE
- -------------------------------------------------------------------------

Commercial                                                                         $ 5,613,550          $ 5,661,005
Commercial real estate                                                               3,652,906            3,601,097
- ----------------------------------------------------------------------------------------------------------------------
        Total Commercial and Commercial Real Estate                                  9,266,456            9,262,102
- ----------------------------------------------------------------------------------------------------------------------
Consumer
     Auto leases - Indirect                                                          3,113,148            3,166,161
     Auto loans - Indirect                                                           2,596,908            2,559,700
     Home equity loans & lines of credit                                             2,910,612            2,788,083
     Residential mortgage                                                            1,229,390              904,277
     Other loans                                                                       413,975              424,111
- ----------------------------------------------------------------------------------------------------------------------
        Total Consumer                                                              10,264,033            9,842,332
- ----------------------------------------------------------------------------------------------------------------------

        TOTAL LOANS                                                               $ 19,530,489         $ 19,104,434
- ----------------------------------------------------------------------------------------------------------------------


LOAN PORTFOLIO COMPOSITION - END OF PERIOD
- -------------------------------------------------------------------------

Commercial                                                                         $ 5,591,280          $ 5,681,788
Commercial real estate                                                               3,699,424            3,645,114
- ----------------------------------------------------------------------------------------------------------------------
        Total Commercial and Commercial Real Estate                                  9,290,704            9,326,902
- ----------------------------------------------------------------------------------------------------------------------
Consumer
     Auto leases - Indirect                                                          3,120,317            3,126,101
     Auto loans - Indirect                                                           2,630,541            2,561,936
     Home equity loans & lines of credit                                             2,990,726            2,830,814
     Residential mortgage                                                            1,210,991            1,075,141
     Other loans                                                                       408,891              418,053
- ----------------------------------------------------------------------------------------------------------------------
        Total Consumer                                                              10,361,466           10,012,045
- ----------------------------------------------------------------------------------------------------------------------

        TOTAL LOANS                                                               $ 19,652,170         $ 19,338,947
- ----------------------------------------------------------------------------------------------------------------------


DEPOSIT COMPOSITION - AVERAGE
- -------------------------------------------------------------------------

 Demand deposits
      Non-interest bearing                                                         $ 2,738,621          $ 2,737,978
      Interest bearing                                                               4,920,120            4,362,050
 Savings deposits                                                                    2,807,874            2,829,922
 Other domestic time deposits                                                        4,218,104            4,097,383
- ----------------------------------------------------------------------------------------------------------------------
        TOTAL CORE DEPOSITS (2)                                                     14,684,719           14,027,333
- ----------------------------------------------------------------------------------------------------------------------
 Domestic time deposits of $100,000 or more                                            852,407              958,812
 Brokered time deposits and negotiable CDs                                             649,340              301,612
 Foreign time deposits                                                                 296,428              267,512
- ----------------------------------------------------------------------------------------------------------------------

        TOTAL DEPOSITS                                                            $ 16,482,894         $ 15,555,269
- ----------------------------------------------------------------------------------------------------------------------


DEPOSIT COMPOSITION - END OF PERIOD
- -------------------------------------------------------------------------

 Demand deposits
      Non-interest bearing                                                         $ 2,769,936          $ 2,857,233
      Interest bearing                                                               5,105,196            4,747,283
 Savings deposits                                                                    2,839,115            2,895,445
 Other domestic time deposits                                                        4,238,688            4,179,814
- ----------------------------------------------------------------------------------------------------------------------
        TOTAL CORE DEPOSITS (2)                                                     14,952,935           14,679,775
- ----------------------------------------------------------------------------------------------------------------------
 Domestic time deposits of $100,000 or more                                            765,163              895,427
 Brokered time deposits and negotiable CDs                                             849,347              451,173
 Foreign time deposits                                                                 293,655              240,410
- ----------------------------------------------------------------------------------------------------------------------

        TOTAL DEPOSITS                                                            $ 16,861,100         $ 16,266,785
- ----------------------------------------------------------------------------------------------------------------------

</TABLE>


<TABLE>
<CAPTION>

                                                                                                              2001
- ----------------------------------------------------------------------------------------------------------------------------------
(in thousands)                                                                Fourth                Third               Second
- ----------------------------------------------------------------------------------------------------------------------------------
<S>                                                                         <C>                  <C>                  <C>

LOAN PORTFOLIO COMPOSITION - AVERAGE
- -------------------------------------------------------------------------

Commercial                                                                  $ 5,750,830          $ 5,945,639          $ 5,986,587
Commercial real estate                                                        3,467,082            3,314,778            3,183,814
- ----------------------------------------------------------------------------------------------------------------------------------
        Total Commercial and Commercial Real Estate                           9,217,912            9,260,417            9,170,401
- ----------------------------------------------------------------------------------------------------------------------------------
Consumer
     Auto leases - Indirect                                                   3,229,203            3,242,864            3,221,612
     Auto loans - Indirect                                                    2,489,183            2,445,459            2,289,014
     Home equity loans & lines of credit                                      2,753,141            2,709,125            2,663,676
     Residential mortgage                                                       671,967              619,578              696,160
     Other loans                                                                445,740              458,999              485,096
- ----------------------------------------------------------------------------------------------------------------------------------
        Total Consumer                                                        9,589,234            9,476,025            9,355,558
- ----------------------------------------------------------------------------------------------------------------------------------

        TOTAL LOANS                                                        $ 18,807,146         $ 18,736,442         $ 18,525,959
- ----------------------------------------------------------------------------------------------------------------------------------


LOAN PORTFOLIO COMPOSITION - END OF PERIOD
- -------------------------------------------------------------------------

Commercial                                                                  $ 5,685,719          $ 5,912,371          $ 6,012,647
Commercial real estate                                                        3,555,354            3,432,502            3,227,577
- ----------------------------------------------------------------------------------------------------------------------------------
        Total Commercial and Commercial Real Estate                           9,241,073            9,344,873            9,240,224
- ----------------------------------------------------------------------------------------------------------------------------------
Consumer
     Auto leases - Indirect                                                   3,207,514            3,221,300            3,194,592
     Auto loans - Indirect                                                    2,501,054            2,509,504            2,300,212
     Home equity loans & lines of credit                                      2,754,612            2,742,016            2,689,868
     Residential mortgage                                                       736,802              652,373              623,492
     Other loans                                                                437,293              475,552              500,194
- ----------------------------------------------------------------------------------------------------------------------------------
        Total Consumer                                                        9,637,275            9,600,745            9,308,358
- ----------------------------------------------------------------------------------------------------------------------------------

        TOTAL LOANS                                                        $ 18,878,348         $ 18,945,618         $ 18,548,582
- ----------------------------------------------------------------------------------------------------------------------------------


DEPOSIT COMPOSITION - AVERAGE
- -------------------------------------------------------------------------

 Demand deposits
      Non-interest bearing                                                  $ 2,824,035          $ 2,761,240          $ 2,667,334
      Interest bearing                                                        4,013,874            3,687,335            3,455,963
 Savings deposits                                                             2,862,649            2,922,867            2,976,864
 Other domestic time deposits                                                 4,123,478            4,126,677            3,942,256
- ----------------------------------------------------------------------------------------------------------------------------------
        TOTAL CORE DEPOSITS (2)                                              13,824,036           13,498,119           13,042,417
- ----------------------------------------------------------------------------------------------------------------------------------
 Domestic time deposits of $100,000 or more                                   1,007,978            1,053,133            1,077,601
 Brokered time deposits and negotiable CDs                                      108,591              119,646              118,321
 Foreign time deposits                                                          223,675              249,753              371,276
- ----------------------------------------------------------------------------------------------------------------------------------

        TOTAL DEPOSITS                                                     $ 15,164,280         $ 14,920,651         $ 14,609,615
- ----------------------------------------------------------------------------------------------------------------------------------


DEPOSIT COMPOSITION - END OF PERIOD
- -------------------------------------------------------------------------

 Demand deposits
      Non-interest bearing                                                  $ 2,997,449          $ 2,889,319          $ 2,660,607
      Interest bearing                                                        4,197,893            3,841,646            3,521,499
 Savings deposits                                                             2,943,508            2,929,922            3,061,890
 Other domestic time deposits                                                 4,077,510            4,214,865            3,833,761
- ----------------------------------------------------------------------------------------------------------------------------------
        TOTAL CORE DEPOSITS (2)                                              14,216,360           13,875,752           13,077,757
- ----------------------------------------------------------------------------------------------------------------------------------
 Domestic time deposits of $100,000 or more                                     944,361            1,114,421              955,616
 Brokered time deposits and negotiable CDs                                      137,915              128,878              100,233
 Foreign time deposits                                                          220,749              359,452              404,069
- ----------------------------------------------------------------------------------------------------------------------------------

        TOTAL DEPOSITS                                                     $ 15,519,385         $ 15,478,503         $ 14,537,675
- ----------------------------------------------------------------------------------------------------------------------------------

</TABLE>


(1)  See page 10 for definition of Operating Basis.

(2)  Core deposits include non-interest bearing and interest bearing demand
     deposits, savings deposits, CDs under $100,000, and IRA deposits.



                                                                        Page 12
<PAGE>
HUNTINGTON BANCSHARES INCORPORATED
- -------------------------------------------------------------------------------
CONSOLIDATED QUARTERLY NET INTEREST MARGIN ANALYSIS
OPERATING BASIS (1)
(in millions)

<TABLE>
<CAPTION>
                                                                                        AVERAGE BALANCES
                                                            -------------------------------------------------------------------
                                                                            2002                            2001
- ---------------------------------------------------------------------------------------  --------------------------------------
Fully Tax Equivalent Basis (2)                                      SECOND       First        Fourth        Third        Second
- -------------------------------------------------------------------------------------------------------------------------------
<S>                                                                  <C>          <C>           <C>           <C>          <C>
ASSETS
Interest bearing deposits in banks                                   $ 29         $ 34          $ 14          $ 5          $ 5
Trading account securities                                              6            5             8            8           39
Federal funds sold and securities purchased
   under resale agreements                                             68           62            86           86           93
Mortgages held for sale                                               174          381           433          344          420
Securities:
      Taxable                                                       2,735        2,713         2,720        2,896        3,368
      Tax exempt                                                       96          102           108          140          201
- -------------------------------------------------------------------------------------------------------------------------------
           Total Securities                                         2,831        2,815         2,828        3,036        3,569
- -------------------------------------------------------------------------------------------------------------------------------
Loans:
     Commercial                                                     5,614        5,661         5,751        5,946        5,986
     Real Estate
          Construction                                              1,420        1,405         1,386        1,281        1,190
          Commercial                                                2,233        2,196         2,081        2,034        1,994
     Consumer
           Auto leases - Indirect                                   3,113        3,166         3,229        3,243        3,222
           Auto loans - Indirect                                    2,597        2,560         2,489        2,445        2,289
           Home equity loans & lines of credit                      2,911        2,788         2,753        2,709        2,664
           Residential mortgage                                     1,229          904           672          619          696
           Other loans                                                413          424           446          459          485
- -------------------------------------------------------------------------------------------------------------------------------
           Total Consumer                                          10,263        9,842         9,589        9,475        9,356
- -------------------------------------------------------------------------------------------------------------------------------
Total Loans                                                        19,530       19,104        18,807       18,736       18,526
- -------------------------------------------------------------------------------------------------------------------------------
Allowance for loan losses                                             400          403           371          315          279
- -------------------------------------------------------------------------------------------------------------------------------
Net loans                                                          19,130       18,701        18,436       18,421       18,247
- -------------------------------------------------------------------------------------------------------------------------------
Total earning assets                                               22,638       22,401        22,176       22,215       22,652
- -------------------------------------------------------------------------------------------------------------------------------
Cash and due from banks                                               722          774           798          831          830
All other assets                                                    1,997        2,008         2,010        2,002        1,990
- -------------------------------------------------------------------------------------------------------------------------------
TOTAL ASSETS                                                     $ 24,957      $24,780      $ 24,613      $24,733     $ 25,193
- -------------------------------------------------------------------------------------------------------------------------------

LIABILITIES AND SHAREHOLDERS' EQUITY
Core deposits
     Non-interest bearing deposits                                $ 2,739      $ 2,738       $ 2,824      $ 2,761      $ 2,667
     Interest bearing demand deposits                               4,920        4,362         4,014        3,687        3,456
     Savings deposits                                               2,808        2,830         2,863        2,923        2,977
     Other domestic time deposits                                   4,218        4,097         4,123        4,127        3,942
- -------------------------------------------------------------------------------------------------------------------------------
          Total core deposits                                      14,685       14,027        13,824       13,498       13,042
- -------------------------------------------------------------------------------------------------------------------------------
Domestic time deposits of $100,000 or more                            852          959         1,008        1,053        1,078
Brokered time deposits and negotiable CDs                             649          302           109          120          118
Foreign time deposits                                                 296          268           224          250          371
- -------------------------------------------------------------------------------------------------------------------------------
     Total deposits                                                16,482       15,556        15,165       14,921       14,609
- -------------------------------------------------------------------------------------------------------------------------------
Short-term borrowings                                               1,886        1,925         1,745        1,998        2,628
Medium-term notes                                                   1,910        2,645         3,272        3,443        3,476
Subordinated notes and other long-term debt,
   including preferred capital securities                           1,229        1,232         1,183        1,184        1,180
- -------------------------------------------------------------------------------------------------------------------------------
     Total interest bearing liabilities                            18,768       18,620        18,541       18,785       19,226
- -------------------------------------------------------------------------------------------------------------------------------
All other liabilities                                               1,107        1,052           887          812          897
Shareholders' equity                                                2,343        2,370         2,361        2,375        2,403
- -------------------------------------------------------------------------------------------------------------------------------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY                       $ 24,957      $24,780      $ 24,613      $24,733     $ 25,193
- -------------------------------------------------------------------------------------------------------------------------------

</TABLE>

(1)  See page 10 for definition of Operating Basis.

(2)  Fully tax equivalent yields are calculated assuming a 35% tax rate.



                                                                        Page 13
<PAGE>


HUNTINGTON BANCSHARES INCORPORATED
- -------------------------------------------------------------------------------
CONSOLIDATED QUARTERLY NET INTEREST MARGIN ANALYSIS
OPERATING BASIS (1)
(IN MILLIONS)

<TABLE>
<CAPTION>
                                                                                        AVERAGE RATES (4)
                                                            -------------------------------------------------------------------
                                                                        2002                             2001
- ---------------------------------------------------------------------------------------  --------------------------------------
Fully Tax Equivalent Basis (2)                                 SECOND         First        Fourth        Third        Second
- -------------------------------------------------------------------------------------------------------------------------------
<S>                                                             <C>           <C>           <C>          <C>           <C>
ASSETS
Interest bearing deposits in banks                              2.44%         2.02%         2.09%        3.75%         5.09%
Trading account securities                                      5.37          2.79          3.59         3.83          5.15
Federal funds sold and securities purchased
   under resale agreements                                      1.51          1.43          2.18         3.20          4.21
Mortgages held for sale                                         7.07          6.51          6.64         7.18          6.96
Securities:
      Taxable                                                   6.33          6.43          6.62         6.71          6.26
      Tax exempt                                                7.69          7.76          7.81         7.38          7.26
- -------------------------------------------------------------------------------------------------------------------------------
           Total Securities                                     6.37          6.48          6.66         6.75          6.32
- -------------------------------------------------------------------------------------------------------------------------------
Loans:
     Commercial                                                 5.50          5.37          5.81         6.93          7.41
     Real Estate
          Construction                                          4.81          4.91          5.49         6.60          7.44
          Commercial                                            6.36          6.66          6.88         7.58          7.95
     Consumer
           Auto leases - Indirect                               6.42          6.62          6.58         6.67          6.71
           Auto loans - Indirect                                7.98          7.98          8.29         8.61          8.86
           Home equity loans & lines of credit                  5.72          6.09          7.05         7.73          8.47
           Residential mortgage                                 6.23          6.60          7.10         7.55          7.70
           Other loans                                          7.47          7.64          8.26         8.04          8.14
- -------------------------------------------------------------------------------------------------------------------------------
           Total Consumer                                       6.64          6.86          7.27         7.59          7.88
- -------------------------------------------------------------------------------------------------------------------------------
Total Loans                                                     6.15          6.25          6.65         7.32          7.71
- -------------------------------------------------------------------------------------------------------------------------------
Loan fees                                                       0.55          0.49          0.53         0.56          0.60
- -------------------------------------------------------------------------------------------------------------------------------
Total Loans with fees (3)                                       6.70          6.74          7.18         7.88          8.31
- -------------------------------------------------------------------------------------------------------------------------------
Total earning assets                                            6.64%         6.68%         7.08%        7.69%         7.94%
- -------------------------------------------------------------------------------------------------------------------------------




LIABILITIES AND SHAREHOLDERS' EQUITY
Core deposits
     Non-interest bearing deposits
     Interest bearing demand deposits                           1.84%         1.79%         1.93%        2.73%         2.87%
     Savings deposits                                           1.83          1.85          2.08         3.04          3.46
     Other domestic time deposits                               4.61          4.99          5.18         5.52          5.83
- -------------------------------------------------------------------------------------------------------------------------------
          Total core deposits                                   2.29          2.39          2.54         3.09          3.31
- -------------------------------------------------------------------------------------------------------------------------------
Domestic time deposits of $100,000 or more                      2.82          2.91          4.66         4.70          5.23
Brokered time deposits and negotiable CDs                       2.48          2.48          3.55         4.42          5.57
Foreign time deposits                                           1.38          1.92          1.99         3.40          4.11
- -------------------------------------------------------------------------------------------------------------------------------
     Total deposits                                             2.31          2.41          2.68         3.22          3.49
- -------------------------------------------------------------------------------------------------------------------------------
Short-term borrowings                                           1.97          2.39          2.73         3.75          4.40
Medium-term notes                                               3.21          3.00          3.45         4.82          5.51
Subordinated notes and other long-term debt,
   including preferred capital securities                       4.05          4.14          4.96         5.19          5.96
- -------------------------------------------------------------------------------------------------------------------------------
     Total interest bearing liabilities                         2.82%         2.96%         3.37%        4.17%         4.62%
- -------------------------------------------------------------------------------------------------------------------------------



Net interest rate spread                                        3.82%         3.72%         3.71%        3.52%         3.32%
Impact of non-interest bearing funds on margin                  0.48          0.49          0.55         0.65          0.71
- -------------------------------------------------------------------------------------------------------------------------------
NET INTEREST MARGIN                                             4.30%         4.21%         4.26%        4.17%         4.03%
- -------------------------------------------------------------------------------------------------------------------------------

</TABLE>


(1)  See page 10 for definition of Operating Basis.

(2)  Fully tax equivalent yields are calculated assuming a 35% tax rate.

(3)  Total loans with fees rate includes loan fees, whereas individual loan
     components above are shown exclusive of fees.

(4)  Loan and deposit average rates include impact of applicable derivatives.




                                                                        Page 14
<PAGE>



                       HUNTINGTON BANCSHARES INCORPORATED
                    SELECTED QUARTERLY INCOME STATEMENT DATA
                               OPERATING BASIS (1)

<TABLE>
<CAPTION>

                                                                                           2002
- --------------------------------------------------------------------------------------------------------------
(in thousands, except per share amounts)                                        SECOND                 First
- ------------------------------------------------------------------------------------------------------------------
<S>                                                                           <C>                    <C>

NET INTEREST INCOME                                                           $ 241,859              $233,101
Provision for loan losses                                                        53,892                50,595
- ------------------------------------------------------------------------------------------------------------------
NET INTEREST INCOME AFTER
  PROVISION FOR LOAN LOSSES                                                     187,967               182,506
- ------------------------------------------------------------------------------------------------------------------
Service charges on deposit accounts                                              35,354                34,282
Brokerage and insurance income                                                   14,967                14,587
Trust services                                                                   16,247                15,096
Mortgage banking                                                                 10,725                19,644
Bank Owned Life Insurance income                                                 11,443                11,676
Other service charges and fees                                                   10,529                 9,118
Other                                                                            15,039                10,591
- ------------------------------------------------------------------------------------------------------------------
 TOTAL NON-INTEREST INCOME BEFORE SECURITIES GAINS                              114,304               114,994
Securities gains                                                                    966                   457
- ------------------------------------------------------------------------------------------------------------------
TOTAL NON-INTEREST INCOME                                                       115,270               115,451
- ------------------------------------------------------------------------------------------------------------------
Personnel costs                                                                 103,589               104,320
Outside data processing and other services                                       16,592                17,097
Equipment                                                                        16,608                15,582
Net occupancy                                                                    14,642                14,771
Marketing                                                                         7,219                 7,174
Professional services                                                             6,265                 5,242
Telecommunications                                                                5,302                 5,282
Printing and supplies                                                             3,671                 3,519
Franchise and other taxes                                                         2,313                 2,326
Amortization of intangible assets                                                   203                   251
Other                                                                            13,781                13,487
- ------------------------------------------------------------------------------------------------------------------
TOTAL NON-INTEREST EXPENSE                                                      190,185               189,051
- ------------------------------------------------------------------------------------------------------------------
INCOME BEFORE INCOME TAXES                                                      113,052               108,906
Income taxes                                                                     31,344                29,393
- ------------------------------------------------------------------------------------------------------------------

NET INCOME                                                                     $ 81,708              $ 79,513
- ------------------------------------------------------------------------------------------------------------------

NET INCOME PER COMMON SHARE - DILUTED                                             $0.33                 $0.32

RETURN ON
   Average total assets                                                           1.31%                 1.30%
   Average total shareholders' equity                                             14.0%                 13.6%
Net interest margin (2)                                                           4.30%                 4.21%
Efficiency ratio                                                                  53.2%                 54.1%
Effective tax rate                                                                27.7%                 27.0%

REVENUE - FULLY TAXABLE EQUIVALENT (FTE)
Net Interest Income                                                           $ 241,859              $233,101
Tax Equivalent Adjustment (2)                                                     1,071                 1,169
- ------------------------------------------------------------------------------------------------------------------
Net Interest Income                                                             242,930               234,270
Non-Interest Income                                                             115,270               115,451
- ------------------------------------------------------------------------------------------------------------------
TOTAL REVENUE                                                                 $ 358,200              $349,721
- ------------------------------------------------------------------------------------------------------------------

TOTAL REVENUE EXCLUDING SECURITIES GAINS                                      $ 357,234              $349,264
- ------------------------------------------------------------------------------------------------------------------

</TABLE>


<TABLE>
<CAPTION>

                                                                                            2001
- ------------------------------------------------------------------------------------------------------------------------
(in thousands, except per share amounts)                              Fourth                Third               Second
- ------------------------------------------------------------------------------------------------------------------------
<S>                                                                  <C>                  <C>                 <C>

NET INTEREST INCOME                                                  $235,546             $230,462            $ 225,883
Provision for loan losses                                              54,281               46,027               41,937
- ------------------------------------------------------------------------------------------------------------------------
NET INTEREST INCOME AFTER
  PROVISION FOR LOAN LOSSES                                           181,265              184,435              183,946
- ------------------------------------------------------------------------------------------------------------------------
Service charges on deposit accounts                                    35,220               33,593               32,650
Brokerage and insurance income                                         15,066               13,943               13,185
Trust services                                                         14,679               14,816               14,431
Mortgage banking                                                       15,049               13,859               17,672
Bank Owned Life Insurance income                                        9,560                9,560                9,561
Other service charges and fees                                          9,582                9,547                9,383
Other                                                                  15,135               14,722               13,979
- ------------------------------------------------------------------------------------------------------------------------
 TOTAL NON-INTEREST INCOME BEFORE SECURITIES GAINS                    114,291              110,040              110,861
Securities gains                                                           89                1,059                2,747
- ------------------------------------------------------------------------------------------------------------------------
TOTAL NON-INTEREST INCOME                                             114,380              111,099              113,608
- ------------------------------------------------------------------------------------------------------------------------
Personnel costs                                                       100,076              101,866              103,707
Outside data processing and other services                             15,414               14,650               15,100
Equipment                                                              18,117               17,580               17,363
Net occupancy                                                          15,251               14,481               13,755
Marketing                                                               5,305                5,717                6,807
Professional services                                                   6,069                5,754                6,481
Telecommunications                                                      5,647                5,728                5,964
Printing and supplies                                                   3,511                3,693                3,688
Franchise and other taxes                                               2,885                2,439                2,229
Amortization of intangible assets                                       2,555                2,569                2,890
Other                                                                  12,599               12,577               14,459
- ------------------------------------------------------------------------------------------------------------------------
TOTAL NON-INTEREST EXPENSE                                            187,429              187,054              192,443
- ------------------------------------------------------------------------------------------------------------------------
INCOME BEFORE INCOME TAXES                                            108,216              108,480              105,111
Income taxes                                                           28,631               27,587               29,509
- ------------------------------------------------------------------------------------------------------------------------

NET INCOME                                                           $ 79,585             $ 80,893             $ 75,602
- ------------------------------------------------------------------------------------------------------------------------

NET INCOME PER COMMON SHARE - DILUTED                                   $0.32                $0.32                $0.30

RETURN ON
   Average total assets                                                 1.28%                1.30%                1.20%
   Average total shareholders' equity                                   13.4%                13.5%                12.6%
Net interest margin (2)                                                 4.26%                4.17%                4.03%
Efficiency ratio                                                        52.7%                54.0%                56.0%
Effective tax rate                                                      26.5%                25.4%                28.1%

REVENUE - FULLY TAXABLE EQUIVALENT (FTE)
Net Interest Income                                                  $235,546             $230,462            $ 225,883
Tax Equivalent Adjustment (2)                                           1,292                1,442                1,616
- ------------------------------------------------------------------------------------------------------------------------
Net Interest Income                                                   236,838              231,904              227,499
Non-Interest Income                                                   114,380              111,099              113,608
- ------------------------------------------------------------------------------------------------------------------------
TOTAL REVENUE                                                        $351,218             $343,003            $ 341,107
- ------------------------------------------------------------------------------------------------------------------------

TOTAL REVENUE EXCLUDING SECURITIES GAINS                             $351,129             $341,944            $ 338,360
- ------------------------------------------------------------------------------------------------------------------------

</TABLE>



(1)  See page 10 for definition of Operating Basis.

(2)  Calculated assuming a 35% tax rate.



                                                                        Page 15


<PAGE>


                       HUNTINGTON BANCSHARES INCORPORATED
                  LOAN LOSS RESERVE AND NET CHARGE-OFF ANALYSIS
                               OPERATING BASIS (1)

<TABLE>
<CAPTION>

                                                                                           2002
- ----------------------------------------------------------------------------------------------------------------
(in thousands)                                                                SECOND                First
- ------------------------------------------------------------------------------------------------------------------

<S>                                                                          <C>                   <C>
ALLOWANCE FOR LOAN LOSSES, BEGINNING OF PERIOD                               $386,053              $386,956

Loan losses                                                                   (57,482)              (60,191)
Recoveries of loans previously charged off                                     12,582                10,915
- ------------------------------------------------------------------------------------------------------------------
   Net loan losses                                                            (44,900)              (49,276)
- ------------------------------------------------------------------------------------------------------------------

Allowance of assets sold                                                          ---                   ---
Allowance of securitized loans                                                 (2,034)               (2,222)
Provision for loan losses                                                      53,892                50,595
- ------------------------------------------------------------------------------------------------------------------
ALLOWANCE FOR LOAN LOSSES, END OF PERIOD                                     $393,011              $386,053
- ------------------------------------------------------------------------------------------------------------------


Allowance for loan losses as a% of total loans                                  2.00%                2.00%
Allowance for loan losses as a% of non-performing loans                        185.3%               175.9%
Allowance for loan losses and OREO as a% of
   non-performing assets                                                        175.7%               170.9%

NET CHARGE-OFFS BY LOAN TYPE

Commercial                                                                   $ 21,528              $ 16,151
Commercial real estate                                                          2,037                 3,723
- ------------------------------------------------------------------------------------------------------------------
   Total commercial and commercial real estate                                 23,565                19,874

Consumer
   Auto leases                                                                  8,401                12,809
   Auto loans                                                                   7,356                11,430
   Home equity loans & lines of credit                                          3,096                 2,814
   Residential mortgage                                                           555                   104
   Other loans                                                                  1,927                 2,245
- ------------------------------------------------------------------------------------------------------------------
      Total consumer                                                           21,335                29,402
- ------------------------------------------------------------------------------------------------------------------
TOTAL NET CHARGE-OFFS                                                        $ 44,900              $ 49,276
- ------------------------------------------------------------------------------------------------------------------


NET CHARGE-OFFS - ANNUALIZED PERCENTAGES

Commercial                                                                       1.54%                1.16%
Commercial real estate                                                           0.22                 0.42
- ------------------------------------------------------------------------------------------------------------------
   Total commercial and commercial real estate                                   1.02                  0.87

Consumer
   Auto leases                                                                   1.08                  1.64
   Auto loans                                                                    1.14                  1.81
   Home equity loans & lines of credit                                           0.43                  0.41
   Residential mortgage                                                          0.18                  0.05
   Other loans                                                                   1.87                  2.15
- ------------------------------------------------------------------------------------------------------------------
      Total consumer                                                             0.83                  1.21
- ------------------------------------------------------------------------------------------------------------------
TOTAL NET CHARGE-OFFS                                                            0.92%                 1.05%
- ------------------------------------------------------------------------------------------------------------------

NET CHARGE-OFFS AS A% OF AVERAGE LOANS - EXCLUDING
   EXITED BUSINESSES                                                             0.88%                 0.97%
- ------------------------------------------------------------------------------------------------------------------


</TABLE>

<TABLE>
<CAPTION>

                                                                                                 2001
- -----------------------------------------------------------------------------------------------------------------------------------
(in thousands)                                                             Fourth                Third                 Second
- -----------------------------------------------------------------------------------------------------------------------------------

<S>                                                                       <C>                   <C>                   <C>
ALLOWANCE FOR LOAN LOSSES, BEGINNING OF PERIOD                            $334,827              $326,495              $276,116

Loan losses                                                                (60,110)              (45,063)              (71,104)
Recoveries of loans previously charged off                                   9,961                 8,981                 9,392
- -----------------------------------------------------------------------------------------------------------------------------------
   Net loan losses                                                         (50,149)              (36,082)              (61,712)
- -----------------------------------------------------------------------------------------------------------------------------------

Allowance of assets sold                                                       ---                   ---                   ---
Allowance of securitized loans                                              (2,003)               (1,613)               (1,564)
Provision for loan losses                                                  104,281(3)             46,027               113,655(2)
- -----------------------------------------------------------------------------------------------------------------------------------
ALLOWANCE FOR LOAN LOSSES, END OF PERIOD                                  $386,956              $334,827              $326,495
- -----------------------------------------------------------------------------------------------------------------------------------


Allowance for loan losses as a% of total loans                               2.05%                1.77%                1.76%
Allowance for loan losses as a% of non-performing loans                     181.4%               173.4%               222.1%
Allowance for loan losses and OREO as a% of
   non-performing assets                                                     175.8%               165.9%               207.1%

NET CHARGE-OFFS BY LOAN TYPE

Commercial                                                                $ 19,475               $ 9,422              $ 11,507
Commercial real estate                                                         867                     3                 1,704
- -----------------------------------------------------------------------------------------------------------------------------------
   Total commercial and commercial real estate                              20,342                 9,425                13,211

Consumer
   Auto leases                                                              12,634                10,395                17,535
   Auto loans                                                               11,397                10,133                23,437
   Home equity loans & lines of credit                                       3,313                 3,772                 2,311
   Residential mortgage                                                        370                    93                   241
   Other loans                                                               2,093                 2,264                 4,977
- -----------------------------------------------------------------------------------------------------------------------------------
      Total consumer                                                        29,807                26,657                48,501
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL NET CHARGE-OFFS                                                     $ 50,149              $ 36,082              $ 61,712
- -----------------------------------------------------------------------------------------------------------------------------------


NET CHARGE-OFFS - ANNUALIZED PERCENTAGES

Commercial                                                                    1.34%                 0.63%                 0.77%
Commercial real estate                                                        0.10                  0.00                  0.21
- ----------------------------------------------------------------------------------------------------------------------------------
   Total commercial and commercial real estate                                0.88                  0.40                  0.58

Consumer
   Auto leases                                                                1.55                  1.27                  2.17
   Auto loans                                                                 1.82                  1.64                  4.11
   Home equity loans & lines of credit                                        0.48                  0.55                  0.35
   Residential mortgage                                                       0.22                  0.06                  0.14
   Other loans                                                                1.86                  1.96                  4.12
- ----------------------------------------------------------------------------------------------------------------------------------
      Total consumer                                                          1.23                  1.12                  2.08
- ----------------------------------------------------------------------------------------------------------------------------------
TOTAL NET CHARGE-OFFS                                                         1.06%                 0.76%                 1.33%
- ----------------------------------------------------------------------------------------------------------------------------------

NET CHARGE-OFFS AS A% OF AVERAGE LOANS - EXCLUDING
   EXITED BUSINESSES                                                          0.99%                 0.61%                 0.74%
- ----------------------------------------------------------------------------------------------------------------------------------


</TABLE>

(1)  See page 10 for definition of Operating Basis.

(2)  Includes provision of $71.7 million recorded to recognize the estimated
     increased losses resulting from Huntington's decision to exit sub-prime
     automobile lending and truck and equipment leasing, to charge-off of
     delinquent consumer and small business loans more than 120 days past due,
     to increase reserves for consumer bankruptcies, and to increase commercial
     loan reserves.

(3)  Includes provision of $50.0 million recorded to increase the loan loss
     reserve in light of the higher charge-offs and non-performing assets
     experienced in the second half of 2001.



                                                                         Page 16
<PAGE>


                       HUNTINGTON BANCSHARES INCORPORATED
                    NON-PERFORMING ASSETS AND PAST DUE LOANS
                               OPERATING BASIS (1)

<TABLE>
<CAPTION>

                                                                                 2002
- --------------------------------------------------------------------------------------------------
(in thousands)                                                          SECOND            First
- ----------------------------------------------------------------------------------------------------

<S>                                                                   <C>               <C>
Non-accrual loans:
   Commercial                                                         $ 156,252         $ 162,959
   Commercial real estate                                                45,795            43,295
   Residential mortgage                                                   8,776            11,896
- ----------------------------------------------------------------------------------------------------
Total Nonaccrual Loans                                                  210,823           218,150
Renegotiated loans                                                        1,268             1,268
- ----------------------------------------------------------------------------------------------------
TOTAL NON-PERFORMING LOANS                                              212,091           219,418
Other real estate, net                                                   11,146             6,112
- ----------------------------------------------------------------------------------------------------
TOTAL NON-PERFORMING ASSETS                                           $ 223,237         $ 225,530
- ----------------------------------------------------------------------------------------------------


Non-performing loans as a % of total loans                                1.08%             1.13%
Non-performing assets as a % of total loans
   and other real estate                                                  1.14%             1.17%


ACCRUING LOANS PAST DUE 90 DAYS OR MORE                                $ 58,449          $ 61,746

</TABLE>

<TABLE>
<CAPTION>

                                                                                         2001
- ------------------------------------------------------------------------------------------------------------------
(in thousands)                                                         Fourth            Third            Second
- ------------------------------------------------------------------------------------------------------------------

<S>                                                                  <C>              <C>               <C>
Non-accrual loans:
   Commercial                                                        $ 155,720        $ 143,132         $ 111,363
   Commercial real estate                                               45,180           37,772            23,418
   Residential mortgage                                                 11,086           10,923            10,916
- ------------------------------------------------------------------------------------------------------------------
Total Nonaccrual Loans                                                 211,986          191,827           145,697
Renegotiated loans                                                       1,276            1,286             1,290
- ------------------------------------------------------------------------------------------------------------------
TOTAL NON-PERFORMING LOANS                                             213,262          193,113           146,987
Other real estate, net                                                   6,384            8,050             9,913
- ------------------------------------------------------------------------------------------------------------------
TOTAL NON-PERFORMING ASSETS                                          $ 219,646        $ 201,163         $ 156,900
- ------------------------------------------------------------------------------------------------------------------


Non-performing loans as a % of total loans                               1.13%            1.02%             0.79%
Non-performing assets as a % of total loans
   and other real estate                                                 1.16%            1.06%             0.85%


ACCRUING LOANS PAST DUE 90 DAYS OR MORE                               $ 76,295         $ 79,339          $ 54,228

</TABLE>


(1)  See page 10 for definition of Operating Basis.



                                                                         Page 17

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