Huntington Bancshares Inc/MD – ‘10-Q’ for 9/30/01 – EX-99

On:  Wednesday, 11/14/01   ·   For:  9/30/01   ·   Accession #:  950152-1-505896   ·   File #:  0-02525

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Quarterly Report   —   Form 10-Q
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Huntington Bancshares Incorporated 10-Q/9-30-01       34    181K 
 2: EX-3.II     Articles of Incorporation/Organization or By-Laws     12     51K 
 3: EX-6.A.2    Opinion re: Discount on Capital Shares                79    319K 
 4: EX-99       Miscellaneous Exhibit                                  2±     9K 

EX-99   —   Miscellaneous Exhibit

EX-99
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                                                                      Exhibit 99

HUNTINGTON BANCSHARES INCORPORATED
RATIO OF EARNINGS TO FIXED CHARGES
 (Amounts in thousands, except for ratios)

                                                        [Enlarge/Download Table]

                                         THREE MONTHS ENDED              NINE MONTHS ENDED       
                                            SEPTEMBER 30,                  SEPTEMBER 30,         
                                     ---------------------------    ---------------------------  
                                        2001             2000          2001             2000     
                                     ----------       ----------    ----------       ----------  
                                                                                                 
EXCLUDING INTEREST ON DEPOSITS                                                                   

Income before taxes                  $   50,977       $   67,540    $  135,719       $  352,678  
Restructuring and other charges          50,817           50,000       161,782           50,000  
                                     ----------       ----------    ----------       ----------  
Operating income before taxes           101,794          117,540       297,501          402,678  
                                     ----------       ----------    ----------       ----------  

Fixed charges:                                                                                   
    Interest expense                     66,065           97,263       236,473          283,957  
    Interest factor of rent expense       3,623            3,549        10,773           10,604  
                                     ----------       ----------    ----------       ----------  

       Total fixed charges               69,688          100,812       247,246          294,561  
                                     ----------       ----------    ----------       ----------  

Reported earnings                    $  120,665       $  168,352    $  382,965       $  647,239  
                                     ==========       ==========    ==========       ==========  
Operating earnings                   $  171,482       $  218,352    $  544,747       $  697,239  
                                     ==========       ==========    ==========       ==========  

Fixed charges                        $   69,688       $  100,812    $  247,246       $  294,561  
                                     ==========       ==========    ==========       ==========  

RATIO OF REPORTED EARNINGS                                                                       
   TO FIXED CHARGES                        1.73 X           1.67 X        1.55 X           2.20 X
RATIO OF OPERATING EARNINGS                                                                      
   TO FIXED CHARGES                        2.46 X           2.17 X        2.20 X           2.37 X

INCLUDING INTEREST ON DEPOSITS                                                                   

Income before taxes                  $   50,977       $   67,540    $  135,719       $  352,678  
Restructuring and other charges          50,817           50,000       161,782           50,000  
                                     ----------       ----------    ----------       ----------  
Operating income before taxes           101,794          117,540       297,501          402,678  
                                     ----------       ----------    ----------       ----------  

Fixed charges:                                                                                   
    Interest expense                    229,047          299,922       754,824          861,478  
    Interest factor of rent expense       3,623            3,549        10,773           10,604  
                                     ----------       ----------    ----------       ----------  

       Total fixed charges              232,670          303,471       765,597          872,082  
                                     ----------       ----------    ----------       ----------  

Reported earnings                    $  283,647       $  371,011    $  901,316       $1,224,760  
                                     ==========       ==========    ==========       ==========  
Operating earnings                   $  334,464       $  421,011    $1,063,098       $1,274,760  
                                     ==========       ==========    ==========       ==========  

Fixed charges                        $  232,670       $  303,471    $  765,597       $  872,082  
                                     ==========       ==========    ==========       ==========  

RATIO OF REPORTED EARNINGS                                                                       
   TO FIXED CHARGES                        1.22 X           1.22 X        1.18 X           1.40 X
RATIO OF OPERATING EARNINGS                                                                      
   TO FIXED CHARGES                        1.44 X           1.39 X        1.39 X           1.46 X