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HU N T I N G T O N

BA N C S H A R E S

INCORPORATED

2000 ANNUAL

R E P O R T

VolvingXpandingBanking

About Huntington

untington Bancshares Incorporated is a

$29 billion regional financial holding company headquartered in Columbus,

Ohio. Founded in 1866, Huntington has made more than 50 bank

acquisitions in its 135-year history and has grown to be one of the nation’s

top 30 banks in asset size.

Today Huntington has more than 500 retail banking office locations

in its principal markets of Florida, Indiana, Kentucky, Michigan, Ohio, and

West Virginia. Other customer touchpoints include online services at

huntington.com, a network of more than 1,400 ATMs, and Huntington

Direct Bank at 1-800-480-BANK. Huntington serves the financial needs

of its customers with individualized products and services, high-touch total

customer service, and innovative technology.

On a total return basis, Huntington has outperformed the S&P 500

Index over the past decade, with an average annual return of 20% over

the past 10 years.

About this Annual Report.This 2000 annual report isa summary annual report.Management’s discussionand analysis, auditedfinancial statements, andrelated notes are containedin a supplement to the 2001proxy statement.

Contents

1

2

6

16

17

18

19

20

21

Consolidated Financial Highlights

Letter to Shareholders

eVolving, eXpanding, eBanking

The Huntington Franchise

Consolidated Statements of Income

Consolidated Balance Sheets

Directors and Principal Officers

Stock and Dividend Information

eSsential Huntington Numbers

Forward-lookingStatement Disclosure.This annual report containsforward-looking statementsincluding certain plans,expectations, goals, andprojections that are subjectto numerous assumptions,risks, and uncertainties.Actual results could differmaterially from thosecontained in or implied byHuntington’s statementsdue to a variety of factorsincluding:•changes in business andeconomic conditions andmovements in interestrates;•competitive pressures onproduct pricing and services;•success and timing ofbusiness strategies andsuccessful integration ofacquired businesses;•the nature, extent, andtiming of governmentactions and reforms; and,•extended disruption ofvital infrastructure.All forward-looking state-ments included in thisannual report are based oninformation available at thetime of its publication.Huntington assumes noobligation to update anyforward-looking statement.

Our Lines Of Business

Net Income By

Line Of Business

7%

20%

40%

33%

Retail Banking

Corporate Banking

Dealer Sales

Private FinancialGroup

Business Profile•1.1 million households and small businesses are

Huntington’s retail customers.•Products and services include home equity loans, first

mortgage loans, installment loans, small business loans,and deposit products, as well as cash management,investment, and insurance services.

•The extensive retail distribution network is comprised ofmore than 500 retail and grocery store offices in six states,two telephone call centers, online services at huntington.com,and more than 1,400 ATMs.

•Changes made in 2000 have made Huntington moreresponsive to customer needs and well-positioned forthe new millennium. These include new and improvedonline banking and call center technology; innovativecustomer solutions in the banking offices; refinement ofsuccessful sales management practices; and the intro-duction of a new deposit product set.

Opportunities For Growth•Optimize the banking office network by re-allocating

capital and human resources to high-potential, high-performing markets.

•Leverage the new line of business structure to continueto attract, expand, and retain customer relationships throughproven daily sales management practices.

•Differentiate Huntington from other financial servicesproviders through superior front-end customer serviceand back-room technology.

•Grow core deposits by aggressively marketing the retailproduct line using progressive marketing techniques andemployee incentives.

Retail Banking

Key Financial Measures (in thousands, except ratios)

2000 1999

Operating Revenues $807,217 $856,563

Operating Earnings $164,597 $170,782

Return on Assets 2.37% 2.28%

Loan Portfolio Composition

By Line Of Business

Retail Banking

Corporate Banking

Dealer Sales

Private FinancialGroup

untington segments its

operations into four distinct lines of business: retail

banking, corporate banking, automobile financing

for individuals and automobile dealers (dealer

sales), and private financial group. Revenues from

these lines of business exceeded $1 billion in 2000.

The company’s net income and loan portfolio

composition by line of business are shown below.

H

4%

30%

30%

36%

Business Profile•Corporate Banking targets middle-market and larger

corporations with annual sales of $10-$250 millionheadquartered in our marketplace.

•Product offerings include commercial and industrial loans,commercial construction financing, deposit products, cashmanagement, and international trade services as well asalternative financing solutions through the bank's CapitalMarkets group.

•In 2000, the seven Regional Presidents focused their primaryresponsibility on driving this corporate banking line ofbusiness and leveraged their community visibility andbusiness associations to increase market share (#1 marketshare in Central Ohio and #3 in the Cleveland area region).

•In 2000, the line of business implemented a refined andimproved sales management process and disciplinewhich included the specific identification of all targetedcompanies within each region, daily sales tracking, salestraining, and a more robust incentive plan.

Opportunities For Growth•Significant expansion of sophisticated internet-enabled

cash management products including payments,collections, and information reporting.

•Increased growth in fee-based products delivered by theCapital Markets group including interest rate protectionproducts (e.g. swaps), mezzanine financing, andsecuritization capability.

•Sale of property and casualty insurance made availablethrough Huntington’s acquisition of J. Rolfe Davis Insurance

Agency in 2000.

Corporate Banking


2000 1999




Business Profile•Relationships with more than 3,000 automobile dealers

in six banking states and contiguous markets.•Product offerings pertain to the automobile lending sector

and include floor plan financing as well as indirect consumerloans and leases.

•# 1, 2, or 3 market share in major markets. Successfulgrowth strategy in Florida resulted in the Tampa/Orlandooffice becoming the # 1 volume producer in the company

within 20 months of start-up.•Securitized $1.7 billion of auto loans as part of balance

sheet repositioning strategy, effectively improvingprofitability of the business line as well as creating anefficient tax structure.

Opportunities For Growth•Deeper penetration in all markets, especially in the new

markets of Florida and Tennessee.•Expand into contiguous markets.•Continue to offer competitive lease and loan products

while minimizing the company's risk in a softening autoindustry environment.

Dealer Sales


2000 1999




Business Profile•Nationally recognized and seasoned professionals serve

the needs of Huntington's higher-wealth customers.Huntington’s average portfolio manager has more than20 years experience.

•Product set includes institutional and personal trust,asset management, investment advisory and brokerageservices, insurance, deposits, and loans.

•All 12 Huntington Funds (Huntington’s proprietary fundfamily) posted positive returns for 2000 in a difficultmarket environment.

Opportunities For Growth•Anticipated launch of five new mutual funds in 2001.•Web-based initiatives in 2001 include online access for

401(k) accounts as well as personal trust accountsand brokerage.

•Deeper penetration of insurance and investmentproducts into all markets.

Private Financial Group


2000 1999




1

Consolidated Financial Highlights

(in thousands of dollars, except per share amounts) H U N T I N G T O N B A N C S H A R E S I N C O R P O R A T E D

Twelve Months Ended December 31, 2000 1999 % Change

Net Income ................................................................................................................... $ 328,446 $ 422,074 (22.2)%

Per Common Share Amounts(1)

Net IncomeBasic ...................................................................................................................... $ 1.32 $ 1.66 (20.5)Diluted.................................................................................................................. $ 1.32 $ 1.65 (20.0)

Cash dividends declared.......................................................................................... $ .76 $ .68 11.8

Return on:Average total assets................................................................................................... 1.14 % 1.47 %Average shareholders’ equity ................................................................................... 14.41 % 19.66 %

Average equity/average assets ........................................................................................ 7.94 % 7.47 %Net interest margin ....................................................................................................... 3.73 % 4.11 %Efficiency ratio ............................................................................................................... 56.19 % 51.76 %

Operating Earnings(2)

Net Income .............................................................................................................. $ 360,946 $ 414,444 (12.9)Per Common Share Amounts(1)

Net IncomeBasic .................................................................................................................. $ 1.45 $ 1.63 (11.0)Diluted.............................................................................................................. $ 1.45 $ 1.62 (10.5)Diluted - cash basis (3)...................................................................................... $ 1.57 $ 1.74 (9.8)

Return on:Average total assets............................................................................................... 1.26 % 1.44 %Average shareholders’ equity ............................................................................... 15.84 % 19.31 %Average total assets - cash basis (3)....................................................................... 1.40 % 1.58 %Average shareholders’ equity - cash basis (3) ....................................................... 24.97 % 30.30 %

At December 31, 2000 1999 % Change

Total Loans..................................................................................................................... $ 20,610,191 $ 20,668,437 (0.3)%Total Deposits ................................................................................................................ $ 19,777,245 $ 19,792,603 (0.1)Total Assets..................................................................................................................... $ 28,599,377 $ 29,036,953 (1.5)Shareholders’ Equity ..................................................................................................... $ 2,366,047 $ 2,182,356 8.4

Shareholders’ Equity Per Common Share(1) ............................................................... $ 9.43 $ 8.67 8.8

(1)Adjusted for stock splits and stock dividends, as applicable.(2)Excludes the after-tax impact of special charges and the 1999 gain from the sale of Huntington’s credit2card portfolio.

(3 )Tangible or “Cash Basis” net income excludes amortization of goodwill and other intangibles. Related asset amounts alsoexcluded from total assets and shareholders’ equity.

Net Income

(Millions)

Diluted Earnings

(Per Share)

Return On Average

Equity (Percent)

96 97 98 00

$3

04

.3

$3

38

.9

$3

62

.1 $4

22

.1

$3

60

.9

$292.7

$301.8

$414.4

$328.4

96 97 98 00

$1

.18

$1

.32

$1

.40 $

1.6

5

$1

.45

$1.14

$1.17

$1.62

$1.32

Operating

Adjustments

Reported

Operating

Adjustments

Reported

Operating

Adjustments

Reported

99 96 97 98 99 00

17.1

3%

17.8

8%

17.5

4%

19

.66

%

15

.84

%

15.44%

14.62%

19.31%

14.41%

99

Chairman Frank Wobst visits a customizedMy Huntington Financial Homepage.

To Our Shareholders and Friends

2

or Huntington, 2000 was a yearof challenge and change. The many

positive changes we experienced this yearreflect our strategic goal of restructuringto position Huntington as the financialservices company that delivers unsur-passed high-touch service in a fast-pacedhigh-tech world.

This year’s challenges, on theother hand, proved to be much morepronounced than anticipated 12 monthsago. Our disappointing 2000 financialperformance was particularly trouble-some following on the successes of 1999,a year in which we saw earnings rise 16%over the previous year. I share yourdisappointment at the company’s financialperformance in recent quarters.

Earnings totaled $1.45 per share,excluding the impact of a third-quarter$32.5 million after-tax leasing charge.That figure, which fell well short ofour goal for the year, reflected a 10.5%decrease from 1999 operating earnings.Lower earnings directly impacted ourstock price, which declined 25% duringthe year. Full-year net income dropped$93.7 million to $328.4 million versus$422.1 million in 1999.

There was significant pressure onour net interest margin during 2000, re-sulting from rising interest rates, a down-sloping yield curve, and a fiercely compet-itive market for customer deposits. Thenet interest margin declined from 4.11%in 1999 to 3.73% in 2000 in spite of thedecisive action we took early in the yearto lessen the impact of further interestrate changes on the company’s earnings,and to introduce new deposit productofferings designed to stem run-off.

With nearly 70% of our revenuemargin-based, margin expansion is criticalto Huntington’s overall financial perfor-mance. Considering that a 10 basis pointexpansion in the company’s margin,assuming the same level of earningassets, would mean $.07 accretion toearnings per share, the significance ofmargin expansion is clear. We look to2001 to be a year of margin expansionfor Huntington.

On a positive note, our assetquality held up remarkably well duringthe year, unlike many competitors whoexperienced significant deteriorationof their commercial lending portfolios.While not immune to downturns in theeconomic cycle, we are pleased to reportour net charge-off ratio for 2000 was0.40%, unchanged from the previous year.The company’s year-end non-performingloan ratio of 0.46% remained relatively

consistent with the levels experiencedover the past five years.

Also on the positive side, in May2000 we increased the cash dividend forthe 40th year in a row. On a total returnbasis, Huntington has outperformed theS&P 500 Index over the past decade,posting an average annual return of 20%over the past 10 years.

hange is Reflected in Our Theme: eVolving, eXpanding, eBankingThe most striking example of how

we’re evolving is our January announce-ment that Thomas E. Hoaglin wouldassume the role of chief executive officerand president of Huntington BancsharesIncorporated and The HuntingtonNational Bank, effective February 15, 2001.I continue to serve as chairman of bothcompanies. A well-known and respectedname in the financial services industry, Tom

F

C

My Huntington

H U N T I N G T O N

B A N C S H A R E S

I N C O R P O R A T E D

Hoaglin brings to Huntington nearly threedecades of banking experience and a wealthof knowledge about our markets, products,and customers.

Tom began his banking career withBank One in 1973, ultimately risingthrough the ranks to become Presidentof Bank One, Texas; Chairman and CEOof Banc One Ohio Corporation; andChairman and CEO of Banc One ServicesCorp. As Chairman of Project One, Tomguided the transformation of Bank Oneto a standardized, consolidated operatingenvironment. Tom remained with BankOne until 1999. In February 2000, hewas named Vice Chairman of AmSouthBancorporation in Birmingham, Alabama.

Without doubt, Tom’s experiencesat Bank One and AmSouth have preparedhim to guide Huntington into the future.Tom has the right mix of experience andexpertise, vision, and leadership to meetthe opportunities and challenges that lieahead for Huntington. It is my pleasure to introduceTom Hoaglin and offer a preview of thestrategic direction Huntington will takein year 2001 and beyond under Tom’sday-to-day leadership.

ositioning Huntington for GrowthThe naming of Tom Hoaglin as

president and CEO is in keeping withHuntington’s year 2000 initiative ofstrengthening our executive and manage-ment ranks. We committed ourselvesthis year to putting in place the rightpeople to sell our products, serve ourcustomers, and improve our performance.With an experienced and talented teamof executives, managers, and sales profes-sionals in place across all lines of business,

P

3

I am tremendously excited and deeplygrateful to have been elected president andchief executive officer of Huntington.

I was attracted to this opportunity inpart because of the challenges we face.These are not easy times for Huntingtonor for the regional banking industry ingeneral. Competition among financial servicesproviders has never been fiercer. Customershave never had more options. Challengesto revenue and earnings growth have seldombeen more pronounced.

Our company has a good foundationin place. We have considerable strengths,including many talented people whoapproach their work with great energy anddedication. Yet changes will be necessaryin order to improve our performance. SinceI came to Huntington in mid-February, I haveimmersed myself in the strategies, plans,

and financials of each of our business units.I assure you that the Huntington team willbe satisfied with nothing less than superiorfinancial performance. And I firmly believewe will succeed in serving our customersbetter, outperforming the competition, andenhancing shareholder value.

It is a privilege to lead HuntingtonBancshares and to serve you, our share-holders and friends. I highly value youropinions and I welcome your comments.I look forward to guiding Huntington torealize our fullest potential.

Sincerely,

Thomas E. HoaglinPresident and Chief Executive Officer

Thomas E. Hoaglin, President and Chief Executive Officer

A Message From Thomas E. Hoaglin,President and Chief Executive Officer

Continued on page 4

With an experienced and talented team

of executives, managers, and sales pro-

fessionals in place across all lines of business,

Huntington today is well positioned for

the future.

To Our Shareholders and Friends

4

Huntington today is well positionedfor the future.

Our ability to attract new business,retain existing customers, and expandcustomer relationships across all lines ofbusiness and over time is integral to thecompany’s growth and success. Over thepast 12 months we launched a new lineof consumer deposit products that alreadyhas started to produce results in terms ofgross sales and household growthand retention.

Acquisitions also played a rolein the evolution and expansion ofHuntington in 2000. The merger withEmpire Bank in Traverse City, Michigan,added assets of approximately $500 millionto our western Michigan operations.The acquisition of Orlando, Florida-basedJ. Rolfe Davis Insurance Agency extendedour product offerings to include com-mercial property and casualty insurance,while adding a $15 million annual revenuestream to Huntington’s insurance business.

untington Electronic Banking EnablesUs to Serve Our Customers 24/7

As the majority investor in e-Bank®,we are partnered with four of the

departments into customer service-focused units. Throughout the year,each operating unit was subjected toa rigorous scoring system designedto assess performance and elevateservice delivery.

The Huntington Growth Fundreceived the prestigious Four-StarMorningstar Rating in 2000. And ourequity fund family posted positive year-end returns in a year in which mostinvestment advisors suffered losses.

On the technology front,huntington.com was recognized byGomez.com as the nation’s number-sixonline bank, the second best in customerconfidence. Since its launch in 1996,huntington.com has consistently held atop-10 Gomez ranking.

ooking Forward to 2001As we look to the year ahead, the

predominant factor influencing our resultswill be the degree to which we succeedin expanding the company’s net interestmargin. Huntington is well positionedfor margin expansion thanks to recentmovement in market interest rates, thegrowth of targeted core deposits, andan asset mix that continues to shiftaway from lower yielding investmentsecurities. Management’s focus onproduct pricing and spreads will play akey role in achieving better margins.

Asset quality will be a majorchallenge for the industry in 2001.While not immune to thesedevelopments, Huntington stands to farebetter than many other banks, thanks toour limited participation in loansyndications and the diversified natureof our commercial portfolio.

biggest names in technology: CompaqComputer Corporation, Corillian Corp-oration, Science Applications Inter-national Corporation, and MicrosoftCorp. The June launch of e-Bank drewwidespread attention to Huntington andgarnered us the number-four position oneWeek’s annual list of FastTrack 500eBusiness innovators. We’re pleased tobe recognized by eWeek as the nation’sfourth best eBusiness company.

The e-Bank solution delivers asingle, real-time view of the customer’sprofile and interactions by integrating allchannels across the organization. Fromthe perspective of a client and an investor,I am very excited about the capabilitiese-Bank’s platform brings to Huntington’sbanking network.

illennium Milestones: RecognizingAchievements in a Challenging Year

In an otherwise challenging year, it givesme great pleasure to recognize our year2000 Millennium Milestones on the pagesof this annual report.

Among other accomplishments, weare pleased to report the success of ourOperational Excellence initiative, whichwas designed to transform the back room

H

L

M

H U N T I N G T O N

B A N C S H A R E S

I N C O R P O R A T E D

Consumer losses were higherin the last two quarters of the year, areflection of the extremely low loss levelsin the first half and the nation’s economicslowdown. While we expect this trendto continue into 2001, the projectedlosses remain within acceptableprofitability parameters.

Following a tough year in 2000, weneed to improve fee income next year.We expect to be helped by a more friendlyinterest rate climate for mortgage lending,and by the new talent we have added inimportant areas including the PrivateFinancial Group. Our expectations forthese units in 2001 are high, but notunreasonable in view of the new productswe are introducing and the renewedpricing discipline we put in place over thepast 12 months.

Despite the fact that cost contain-ment has been a major focus for us overthe past two years, we now are startingto see higher non-interest expenses. Thehigher expense base is magnified by thesoftness in our margin, as evidenced bythe company’s efficiency ratio, whichmoved from a very respectable 51.8% in1999 to 56.2% in 2000. While there willbe a renewed focus on expense controlin 2001, the company has and willcontinue to spend money as necessaryto support revenue growth plans.

On the whole, I believe thereare positive developments that will helpHuntington’s performance in the currentyear. Our recent move from a geographicmanagement structure to a line of businessorientation has enabled us to streamlineoperations and focus resourceson core businesses with the highest growthpotential. An improved pricing discipline

5

What follows is the story ofHuntington’s transitional year,and our continuing transfor-mation from a regional financialholding company into a high-tech financial services companycommitted to meeting customers’banking, investment, andinsurance needs 24 hours a day,7 days a week. ➤

on loans and deposits, andthe ability to react swiftly to marketconditions, are two early and encouragingsigns our strategy is right on target.

On a final note, year 2000marked the retirement and departure,respectively, of two long-term colleaguesand friends. William J. Williams, chairmanof Freeburn Ventures, Ltd., has retiredfrom our board of directors after 15 yearsof service. Peter Geier, who began hisbanking career with Huntington in1984, has resigned as president, chiefoperating officer, and board member.We wish Bill and Pete the best and thankthem for their dedicated and loyal serviceto Huntington.

Our plans for 2001, while ambitious,are within our reach if we continue towork wisely and execute effectively.We thank our employees for theircontinued commitment to sales andservice during trying times. We thankour board and shareholders for theirsupport. We thank our customers forchoosing to bank with Huntington.

Sincerely,

Frank WobstChairman

Represents $293.1

million in opening balances

Represents $132.2

million in opening balances

Number of Interest

Checking Accounts

Opened Annually

6

Millennium Milestone.Huntington maintains

a financial services

relationship with

over 1.1 million

consumer house-

holds. With the

introduction of new

consumer deposit

products in 2000, the

number of new

deposit accounts has

risen dramatically.

With Huntington’s

entire set of new

checking accounts

in place as of

September 1, 2000,

new accounts were

up 36.7% and opening

balances increased

48.3% over the same

four months the

previous year.

Customer Service. Whether banking electronically or

in person, customers want personalized service that

truly addresses their financial needs and goals. At

Huntington, we marry Legendary Customer Service

with flexible, competitive products to create memorable

customer experiences that lead to long-term total

customer relationships.

0099

48,472

8,847

Thanks to Huntington’s new consumer product line,

personal interest checking account volume rose

dramatically in 2000.

“A Bank’s Number-One Asset

Is Its Relationship with Its

Customers.”

7

volving. For Huntington,2000 was a transitional year inwhich we focused on enhancing

our executive ranks, expanding ourproduct lines, energizing our back-roomoperations, elevating our technologicalcapabilities, and excelling at what we dobest: serving our customers.

Over the past 12 months,Huntington has continued to evolve froma regional bank holding company into ahigh-touch, high-tech financial servicescompany committed to understandingand meeting our customers’ distinctbanking, investment, and insurance needs24 hours a day, 7 days a week.

Thanks to innovative customerprofiling and an emphasis on totalcustomer relationships, our employeeshave become adept at spotting realneeds and delivering the right solutionswell in advance of customer requests.Huntington’s emphasis on profiling every

customer and matching unique productsand services to individual customerneeds reflects a personal touch typicallyassociated with community banks andcredit unions.

In a fast-paced world in which timeis at a premium and financial transactionsoften are conducted electronically byphone, fax, ATM, and the Internet,customers long for efficient and effectiveservice delivered in a hands-on,personalized manner.

Our evolution as a high-techbanking, investment, and insurancecompany that excels at providingunsurpassed relationship-based customerservice creates a marketplace distinctionfor Huntington. Customers knowHuntington as the regional bank thatdelivers innovative new-economyproducts with a comforting old-worldcommitment to service.

Legendary Customer Service isthe philosophy embodied by everyHuntington employee. It is a keyingredient in increased customersatisfaction as evidenced by across-the-board customer growth, from householdchecking accounts to private bankingclients to Web Bank customers.

The newly introduced HuntingtonLoyalty Program is helping us solidifyrelationships with and retain topconsumer accounts. Conducted inconjunction with Hallmark LoyaltyMarketing Group, the LoyaltyProgram recognizes our bestcustomers through regular, personalcommunication. Plans call forthe expansion of the LoyaltyProgram to Business, Commercial,and Private Banking customersin 2001.

The heart of our relationshipbanking success is Huntington’s line ofbusiness strategy, dividing operations intofour distinct business segments: RetailBanking, Corporate Banking, Dealer Sales,and Private Financial Group.

Because it takes dedicated peopleto deliver memorable customer exper-iences, an important year 2000 initiativewas line of business staffing and training.By year end, we had achieved ourgoal of putting the right people in placeto deliver the required products andservices to meet our customers’ real needs.With an experienced and talentedteam of executives, managers, and salespeople now in place across all lines ofbusiness, Huntington is well positionedfor the future.

At Huntington, we recognize ittakes more than a comprehensive productline, dedicated sales people, and acommitment to customer service toachieve success. What the customer sees,

e

The new Huntington Loyalty

Program, conducted with Hallmark

Loyalty Marketing Group, helps us

build lasting relationships with top

consumer accounts.


8

Operational

Excellence Scores

(0-3 Scale)

Operational Excellence combines process

redesign with a rigorous scoring system that

assesses performance, addresses challenges,

and elevates service quality.

Operational Excellence. At Huntington, we’re 100%

committed to customer service and satisfaction.

From back-room personnel who may never have the

opportunity to interact with customers to customer

service representatives who serve customers all day every

day, each Huntington employee adheres to the same

rigorous service standards.

Millennium Milestone.The Office of Opera-

tional Excellence

celebrated its first

full year in our new

state-of-the-art

Business Service

Center at Easton in

Columbus, Ohio.

Consolidating four

operations centers

into one and creating

efficiencies in

systems and services,

the Business Service

Center is more than

a hub of operational

activity. It also

serves as the com-

mand center for

our innovative

efforts to bring

front-line account-

ability to traditional

back-room banking

functions.

“Behind-the-Scenes Success

Has a Profound Impact on

Customer Satisfaction.”

Best In Class

2.5 Rating

Huntington

2.1 Rating

Most Companies

1.5 Rating

9

experiences, and remembers – qualityproducts delivered by well-trainedprofessionals committed to providingtimely and unsurpassed service – wouldnot be possible without the efforts of ourback-room operating units.

The Office of OperationalExcellence, established in the fourthquarter of 1999 and rolled out in 2000,is a company-wide initiative designed tomeasure and improve the performanceof our behind-the-scenes operating units,including procedures such as checkprocessing, collections, and loan servicingamong others.

Overseen by a team of industrialengineers, Operational Excellencecombines process redesign with a rigorousscoring system that assesses performance,addresses challenges, and elevates servicequality for the benefit of customers.

Operational Excellence links theperformance of operations to the successof sales and the satisfaction of customers.While operations

employees rarely interact one-on-onewith customers, Operational Excell-ence nonetheless holds back-roomemployees accountable for their impacton Huntington’s service delivery.

Operational Excellence has achievedtremendous year-one success. Applyingfront-line accountability to back-roomoperations has enabled Huntington toidentify and solve operational problems,increasing customer satisfaction in theprocess. Goals for 2001 include theongoing improvement of operationalunits’ performance and the introductionof Operational Excellence accountabilitythroughout the entire company.

Xpanding. Huntington’sability to attract new business,retain existing customers, and

expand customer relationships acrossbusiness lines and over time is integral toour growth and success.

We introduced in 2000 a newline of consumer deposit productsdesigned to attract more business tothe company and keep customers bank-ing with Huntington. From FreeChecking to interest-bearing Premieraccounts and relationship-based MoneyManager products, the retail products

launched over the past 12 monthsreflect Huntington’s goal of

creating an attractive product linewith retention value.

The results speak forthemselves. Thanks to

Huntington’s new consumerproduct line, new personal interest

checking account volume is upand customer household retention is on

the rise.

The Office of Operational Excel-

lence, overseen by (l to r) John

Stevens, Steve Hizak, Don Barber,

and Matt Martin rewards

departments who have met their

Operational Excellence goals.

To facilitate total customerrelationships – giving Huntington bankersmore time to concentrate on sellingproducts that truly meet each customer’sindividual needs – we added servicecapacity and rerouted customer flowwithin our banking offices in 2000.

Today, in every Huntington bankingoffice, you will find a designated CustomerService Window staffed by knowledgeableand helpful professionals dedicated toanswering questions, solving problems,and serving customer needs quicklyand efficiently.

With a dedicated customer serviceteam at the ready, Huntington’s front-line sales force focuses on getting toknow each customer’s financial situation,growing long-term total customerrelationships, and selling Huntingtonproducts and services that match eachcustomer’s financial needs and goals.

Operational Excellence:Applying high-technology tohigh-touchservice.

e


10

Millennium Milestone.Huntington is

strategically

positioned to estab-

lish and grow long-

term financial

services relation-

ships with small

businesses of all

industry types. For

Huntington Business

Banker Lesley C.

Pettys (right) and

small business

owners Naomi S.

Budin (left) and B.

Alan Budin (center)

of Worthington,

Ohio’s Curio Cabinet,

business meetings are

an opportunity to

grow professional

relationships while

building personal

friendships.

543,000 businesses

(with sales of $10

million or less) operate

within a 3 mile radius

of all Huntington

banking offices across

the country.

A regional bank committed to total customer service,

Huntington is well positioned to meet the banking,

investment, and insurance needs of our small

business neighbors.

Small

Business

Growth

Opportunities

Small Business Banking. From a dedicated business

banking call center, Business Direct, to Property &

Casualty Insurance products, to online Business

Banking Solutions, Huntington has added products

and services to better meet the needs of entrepreneurs

and small business owners, as well as middle-

market customers.

“Our Business Is Helping Your

Business Grow.”

Banking Offices

3 Miles 3 Miles

11

Customers who prefer the con-venience of the telephone can accessHuntington’s new Direct Bank, staffedby specialists trained to deliver improvedcustomer service and enhanced response.As questions are answered and problemssolved, Direct Bank specialists updatecustomer profiles to ensure banking needsare recognized and addressed.

The business banking call center,Business Direct, expanded across allmarkets in 2000. Dedicated to meetingthe customer service needs of smallbusinesses with sales under $10 million,Business Direct gives entrepreneurs andsmall business operators transactionalabilities and telephone access to adedicated team committed to answeringquestions and responding to the uniquefinancial needs of small business.

The successful Retail SolutionsCenter has played a significant role inimproving overall levels of customerservice. Introduced as part ofHuntington’s year 2000 retail growthplatform, the Retail Solutions Center isan internal function that has had

a positive impact on external relationships.Staffed by experienced trouble shooters,the Retail Solutions Center provides real-time answers to employees’ questions, ascustomers stand by awaiting immediatesolutions to their pressing needs. Respon-sive people. Hands-on service. Flexibleproducts. That’s Huntington.

The commitment to deliveringworld-class products and services extendsacross all Huntington lines of businessand customer relationships, from FreeChecking account customers to high-net-worth clients served by Huntington’sPrivate Financial Group.

A transitional year for the PrivateFinancial Group, 2000 saw the hiringof new leadership and sales talent, thelaunching of a new delivery modeland products, and the entry into thecommercial property and casualtyinsurance market.

Because customer service is atheart a people business, we concentratedthis year on recruiting a team of exper-

ienced and knowledgeabletrust, brokerage, private

banking, investment,insurance profes-

sionals to help leadHuntington’s

Private FinancialGroup into the

future. Under the

directionof a new

Private FinancialGroup executive, the

business line launched anenhanced delivery model in the fourth

quarter. Designed to better serve the

Our Business Direct call center gives

small business owners transactional

abilities and telephone access to a

team of dedicated banking specialists.

needs of high-net-worth clients, the newdelivery model is off to a promising start.

Trust product sales increasedsignificantly, with more sales posted duringthe last quarter of 2000 than in theprevious 18 months. By year-end 2000,the number of private banking clients wasup 8 percent over 1999.

The past 12 months also were aperiod of significant accomplishment forHuntington’s Investment ManagementGroup, which oversees $9 billion in assets,including the $2.8 billion HuntingtonMutual Fund Family. Under the directionof a new chief investment officer, all ourequity funds posted positive returns for2000. Our success, in spite of challengingmarket conditions, reflects Huntington’stop-down approach to investing.

Retail brokerage income again roseby double digits this year. We plan toleverage our year 2000 successes to spurthe continued growth of the HuntingtonInvestment Company over the comingyear. To that end, we have streamlined

Entrepreneurs and small businessoperators enjoy productsand services designedspecifically for theirfinancial needs.


12

Millennium Milestone.For the Private

Financial Group, 2000

was a year of

expansion marked

by excellence. In a

year in which most

investment advisors

suffered losses,

Huntington’s equity

funds posted positive

year-end returns and

the Huntington

Investment Company

experienced double-

digit growth. Adding

to the success of

our brokerage

business, the

Huntington Growth

Fund was awarded

the prestigious Four-

Star Morningstar

Rating for positive

performance.

Huntington

Investment Advisory

Income* ($ Millions)

0099

*Includes

brokerage,

insurance,

and trust

services.

With an experienced and knowledgeable team

of trust, brokerage, and insurance professionals

in place, Huntington Private Financial Group is

on the grow.

989796

$115.5

$104.1

$87.5

$75.2

$63.1

Private Financial Group. Huntington’s expansion into

commercial insurance provides us with more than a

competitive new product set for our growing insurance

and brokerage businesses. We also gain a presence in the

attractive Orlando, Florida marketplace. One example

of how the Private Financial Group is working smart

for our customers and our company’s bottom line.

“Our Comprehensive Approach

To Managing Relationships Sets

Us Apart.”

13

insurance business with the acquisitionof Orlando, Florida-based J. Rolfe DavisInsurance Agency. Orlando’s largest andFlorida’s third largest independentcommercial insurance broker, J. RolfeDavis brings to Huntington a productset addition and access to a geographicmarket with outstanding growthpotential. Plans call for the extension ofproperty and casualty insurance productsto middle-market commercial customersin all Huntington markets.

The acquisition of J. Rolfe Davisadds to the strength of HuntingtonInsurance Agency Services, whose2000 revenues reflect 28.9 percentgrowth over year-end 1999. ThroughHuntington Insurance Agency, thecompany offers credit, life, health, andsmall group insurance through retailbanking offices in six states.

Huntington’s ability to deliverbanking, investment, and insurance value

to all our customers – retail andcommercial, small businesses andmulti-national corporations,students and seniors – helpsset us apart from otherfinancial services companies.

Banking. Huntington’s high-tech

capabilities andInternet presenceat huntington.comcreate a furtherdistinction in themarketplace.

A good corporate neighbor,

Huntington sponsors the daily

financial report, featuring Tom

Abood, Vice President, Investments

on WBNS-TV in Columbus, Ohio.

Huntington was one of the first banks inthe country to launch online banking in1996, and huntington.com consistentlyhas been ranked among the top 10financial institutions. We ended year2000 as the nation’s eighth best onlinebank, number four one eWeek’s list of Fast500 Companies.

Site traffic at huntington.comincreased more than 200 percent thisyear, thanks to the creation of a state-of-the-art customer-driven site and ongoingimprovement of our online transactionsystems. Relaunched in September, thenew huntington.com is an online salesengine that enhances and personalizesthe visitor’s online experience, turningvisitors into customers.

Response to the new site wasimmediate and favorable. We accomp-lished our goal of making it easier forcustomers to do business with us online.And we witnessed exponential growth incustomer requests for online access toaccounts, and in applications for depositaccounts and loans.

Huntington InvestmentManagement Group: Bigenough to oversee $9billion in assets. Smallenough to keep a watchfuleye on your investments.

our distribution process, expanded oursales team, enhanced both our sales andback-office management, and acceleratedtechnical training for our sales force.

Late in the fourth quarter, welaunched a new Web site for HuntingtonFunds. Current shareholders, prospec-tive investors, and Registered HuntingtonInvestment Representatives can accesscurrent and historical fund performanceinformation, breaking investment news,and tools to help investors make the mostof their investment plans.

The new Web site,huntingtonfunds.com, enables ourcustomers to download a prospectusand account application, receive answersto investment questions, and more.All this is available any time of day,from any location in the world, reflectingHuntington’s commitment to totalcustomer service 24 hours a day, 7 daysa week.

Consistent with the company’sstrategy of offering a fullarray offinancialproductsandservices tocustomers,Huntingtonin August

enteredthe com-

mercialproperty

andcasualty


14

Huntington eBanking

Activity Increases

(1999 vs. 2000)

00990099

594,409

182,379

135,821

82,230

First-Time Visitors Total Visitors

Traffic at the new huntington.com increased more

than 200% in 2000, reflecting customers’ appre-

ciation for our redesigned and relaunched site.

“ The New huntington.com.

24x7 Real-Time Access and

Unbeatable online Service.”

Huntington Electronic Banking. Customers seeking conven-

ience coupled with service need look no farther than the

redesigned huntington.com, powered by the e-Bank ®

platform. Real-time balances. The ability to transfer

funds and stop payments ‘round the clock. Online loan

and checking account applications. Those are just a few

of the high-tech, high-touch benefits huntington.com delivers.

Millennium Milestone.Huntington’s bricks-

and-clicks initiative

included the

strategic redesign

and relaunch of a

more accessible and

interactive

huntington.com in

2000. Our efforts to

attract and retain

more online cus-

tomers are winning

rave reviews. Web

Bank was ranked

second in customer

confidence and sixth

overall by the

prestigious

Gomez.com online

rating service in

2000. An eCommerce

watchdog, Gomez.com

rates Internet banks

on ease of use, on-

site resources,

customer confidence,

relationship ser-

vices, and overall

cost. Since its

launch in 1996, Web

Bank has consis-

tently held a top-ten

Gomez.com ranking.

e-Bank® headquarters

15

Eager to make huntington.coma daily destination for customers andvisitors, we introduced a high-touchMy Huntington feature to our high-tech site. My Huntington enables eachindividual and business customer tocustomize a financial homepage withstock quotes, financial news, and favoritebookmarks. My Huntington also providesinformation about Huntington productsand services to help meet customers’financial needs.

To meet the growing needs of oursmall business customers, we introducedthe Small Business Marketplace, whereMy Huntington business customers canbuy office products and computers, orderchecks, and file taxes online. By yearend, the number of customers whopersonalized a My Huntington homepagesignificantly exceeded expectations.

Along with traffic, online bankingenrollments also rose in 2000. Morepeople than ever viewed their depositaccount transactions, transferred funds,and paid bills online. We enhanced ourservices by providing access to Huntingtoncredit card and home equity line of creditinformation. Now, customers can receiveemail notification when credit card and

loan payments are due.In addition,

customerscan go

online to view their Huntingtoninvestment accounts, conduct marketresearch, and buy and sell securities ata discount. Homeowners can viewHuntington mortgage accounts,including payment activity, income tax,and escrow information. The onlinedoorway to the bank, huntington.comstrives to deliver world-class eService. Aswitch to a new customer-focused bankingplatform early next year and the ongoingintegration of the e-Bank® solutionthroughout 2001 will enable Huntingtonto deliver a level of personalized serviceunparalleled in the industry.

While our customers don’t interactpersonally with e-Bank, they certainlybenefit from the empowered bankingexperience it creates at all customertouch points. Launched in June 2000,e-Bank is a separate and distinct soft-ware and services company that wasincorporated through the investmentof Huntington and technologypowerhouses Compaq Computer Corp-oration, Corillian Corporation, ScienceApplications International Corporation,and Microsoft Corp.

Huntington enjoys a uniquerelationship with e-Bank. We aree-Bank’s majority investor and first client.Huntington’s return on investment willcome from an industry-unique ability toserve our customers anytime, anywherefrom a customer-focused, not product-focused, point of view. Additionally,Huntington will benefit as e-Bank sellsits solution to other mid-sized and largefinancial services institutions.

e-Bank enables customer-focused,anytime-any-

where

banking by marrying personalizedknowledge of each customer with true24x7 integrated multichannel delivery.e-Bank’s real-time multichannel deliveryis targeted to support every channelthrough which customers interact withHuntington, from the traditional (tellerwindows, direct mail, and call centers) tohigh-tech (ATMs, cell phones, PersonalDigital Assistants, and Web Bank).

Acting as a customer-specificinformation hub, e-Bank dynamicallyfeeds and links every Huntington channel.Imagine receiving an eMail from yourpersonalized My Huntington Web pageevery time a check clears. Or havingthe ATM tell you how you can earnmore interest in your account. Orbeing able to view your last 10 trans-actions on your cell phone. With e-Bank,all that – and more – will be available toHuntington customers.

Huntington and e-Bank. Makingthe dream of anytime-anywhere customer-focused banking a reality.

eVolving, eXpanding, eBanking.

That’s Huntington 2000.

The onlinedoorway to thebank, huntington.commakes it easy for indi-viduals and business customersto do business with us.


N o n -

B a n k i n g

S e r v i c e

S t a t e s

Maryland

Mortgage Banking Offices (1)

New Jersey

Mortgage Banking Offices (1)

16

The Huntington Franchise

F u l l

B a n k i n g

S t a t e s

Ohio

Banking Offices (175)ATM Locations (570)

West Virginia


Kentucky


Michigan


Totals

Banking Offices (522)ATM Locations (1,479)

Florida


eVolving and eXpanding

Indiana


1866

Opened for business5 employeesOutstandingShares - 4,000

Assets -$176.9 millionDeposits -$158.1 millionEmployees - 259Banking offices - 1Shareholders - 766

1965

Assets -$382.2 millionDeposits -$340.2 millionEmployees - 835Banking offices - 14Shareholders - 1,909

1966

HuntingtonBancshares isincorporated

30 ATMsProcess 350,000checks per day

Assets - $3.2 billionDeposits -$2.4 billionEmployees - 3,146Banking offices - 123Shareholders - 6,587Acquisition of UnionCommerce

2000

Assets - $28.6 billionDeposits -$19.8 billionEmployees - 9,693Banking offices - 522Shareholders -32,622

1975 19811955

1,400+ ATMs2 million checksprocessed per dayOutstanding Shares -250+ million

50th AnniversaryIdentity (1916)

Original StockCertificate Art (1966)

100th AnniversaryIdentity (1966)

Revised HuntingtonIdentity (1974)

Current HuntingtonIdentity (2000)

First CorporateIdentity (1866)

17

Consolidated Statements of Income

(in thousands of dollars, except per share amounts) H U N T I N G T O N B A N C S H A R E S I N C O R P O R A T E D

Twelve Months Ended December 31, 2000 1999 1998

Interest and fee incomeLoans ................................................................................................................... $ 1,808,254 $ 1,693,379 $ 1,641,081Securities ............................................................................................................. 284,719 314,061 323,595Other ................................................................................................................... 15,532 18,562 34,688Total Interest Income...................................................................................... 2,108,505 2,026,002 1,999,364

Interest expenseDeposits............................................................................................................... 782,076 639,605 672,433Short-term borrowings ....................................................................................... 113,134 114,289 97,656Medium-term notes ............................................................................................ 189,311 170,061 164,590Subordinated notes and other long-term debt ................................................. 81,552 60,285 43,592Total Interest Expense ................................................................................... 1,166,073 984,240 978,271Net Interest Income ........................................................................................ 942,432 1,041,762 1,021,093

Provision for loan losses.......................................................................................... 90,479 88,447 105,242Net Interest Income After Provision for Loan Losses ............................ 851,953 953,315 915,851

Non-interest incomeService charges on deposit accounts .................................................................. 160,727 156,315 126,403Brokerage and insurance income....................................................................... 61,871 52,076 36,710Trust services ....................................................................................................... 53,613 52,030 50,754Electronic banking fees....................................................................................... 43,883 37,301 29,202Bank owned life insurance income.................................................................... 39,544 37,560 28,712Mortgage banking............................................................................................... 38,025 56,890 60,006Credit card fees ................................................................................................... 6,985 23,314 21,909Other ................................................................................................................... 51,810 36,587 45,181 Total non-interest income before securities and

credit card portfolio sale gains............................................................... 456,458 452,073 398,877Securities gains.................................................................................................... 37,101 12,972 29,793Gains on sale of credit card portfolios .............................................................. – 108,530 9,530Total Non-Interest Income ............................................................................. 493,559 573,575 438,200

Non-interest expensePersonnel and related costs................................................................................ 421,750 419,901 428,539Equipment........................................................................................................... 78,069 66,666 62,040Net occupancy..................................................................................................... 75,882 62,169 54,123Outside data processing and other services ...................................................... 62,011 62,886 74,795Amortization of intangible assets ...................................................................... 39,207 37,297 25,689Marketing ............................................................................................................ 34,884 32,506 32,260Telecommunications .......................................................................................... 26,225 28,519 29,429Legal and other professional services ................................................................ 20,819 21,169 25,160Printing and supplies.......................................................................................... 19,634 20,227 23,673Franchise and other taxes ................................................................................... 11,077 14,674 22,103Other ................................................................................................................... 46,059 49,314 46,118 Total non-interest expense before special charges............................ 835,617 815,328 823,929Special charges .................................................................................................... 50,000 96,791 90,000Total Non-Interest Expense ........................................................................... 885,617 912,119 913,929Income Before Income Taxes ....................................................................... 459,895 614,771 440,122

Provision for income taxes ...................................................................................... 131,449 192,697 138,354Net Income ........................................................................................................ $ 328,446 $ 422,074 $ 301,768

Per Common Share(1)Net income

Basic................................................................................................................. $ 1.32 $ 1.66 $ 1.18Diluted ............................................................................................................ $ 1.32 $ 1.65 $ 1.17

Cash dividends declared .................................................................................... $ 0.76 $ 0.68 $ 0.62Average Common Shares(1)

Basic ................................................................................................................. 248,708,965 253,559,501 255,825,970Diluted............................................................................................................. 249,570,098 255,646,520 258,279,601

(1)Adjusted for stock dividends and stock splits, as applicable.

18

Consolidated Balance Sheets

(in thousands of dollars) H U N T I N G T O N B A N C S H A R E S I N C O R P O R A T E D

December 31, 2000 1999

AssetsCash and due from banks ...................................................................................................... $ 1,322,700 $ 1,208,004Interest bearing deposits in banks ......................................................................................... 4,970 6,558Trading account securities ...................................................................................................... 4,723 7,975Federal funds sold and securities purchased under resale agreements................................ 133,183 20,877Mortgages held for sale .......................................................................................................... 155,104 141,723Securities available for sale - at fair value.............................................................................. 4,090,525 4,870,203Investment securities .............................................................................................................. 16,336 18,765Loans, net of unearned income:

Commercial ....................................................................................................................... 6,633,985 6,300,414Real estate

Construction................................................................................................................... 1,318,899 1,236,776Commercial .................................................................................................................... 2,253,477 2,151,673

ConsumerLoans............................................................................................................................... 6,388,036 6,793,295Leases .............................................................................................................................. 3,069,210 2,741,735Residential mortgage...................................................................................................... 946,584 1,444,544

Total loans............................................................................................................................... 20,610,191 20,668,437Less allowance for loan losses .......................................................................................... 297,880 299,309

Net loans ................................................................................................................................. 20,312,311 20,369,128Bank owned life insurance ..................................................................................................... 804,941 765,399Premises and equipment........................................................................................................ 454,844 438,871Customers’ acceptance liability.............................................................................................. 17,366 17,167Accrued income and other assets........................................................................................... 1,282,374 1,172,283Total Assets .......................................................................................................................... $ 28,599,377 $ 29,036,953

Liabilities and Shareholders’ EquityDemand deposits

Non-interest bearing ......................................................................................................... $ 3,480,876 $ 3,418,100Interest bearing.................................................................................................................. 4,645,127 4,046,472

Savings deposits ...................................................................................................................... 3,527,796 3,793,423Certificates of deposit

Less than $100,000 ........................................................................................................... 5,938,486 5,547,266$100,000 or more.............................................................................................................. 1,520,547 1,591,092

Total core deposits ........................................................................................................ 19,112,832 18,396,353Other domestic time deposits................................................................................................ 256,106 530,035Foreign time deposits ............................................................................................................. 408,307 866,215

Total deposits .................................................................................................................... 19,777,245 19,792,603Short-term borrowings ........................................................................................................... 1,987,759 2,121,989Bank acceptances outstanding ............................................................................................... 17,366 17,167Medium-term notes................................................................................................................ 2,467,150 3,254,150Subordinated notes and other long-term debt ..................................................................... 870,976 697,677Company-obligated mandatorily redeemable preferred capital

securities of subsidiary trusts holding solely the juniorsubordinated debentures of the parent company ........................................................... 300,000 300,000

Accrued expenses and other liabilities................................................................................... 812,834 671,011Total Liabilities..................................................................................................................... 26,233,330 26,854,597

Shareholders’ equityPreferred stock................................................................................................................... — —Common stock.................................................................................................................. 2,493,645 2,284,956Treasury stock .................................................................................................................... (129,432) (137,268)Accumulated other comprehensive loss .......................................................................... (24,520) (94,093)Retained earnings .............................................................................................................. 26,354 128,761Total shareholders’ equity................................................................................................. 2,366,047 2,182,356

Total Liabilities and Shareholders’ Equity ..................................................................... $ 28,599,377 $ 29,036,953

19

Directors and Principal Officers

Frank Wobst

Chairman

Thomas E. Hoaglin

President and ChiefExecutive Officer

Ronald J. Seiffert

Vice Chairman

Michael J. McMennamin

Vice Chairman, ChiefFinancial Officer andTreasurer

Don Conrad

Principal,Don M. Casto OrganizationJoined Board: 1985Age 56

Chairman and ChiefExecutive Officer,Waco Oil Company Inc.Joined Board: 1989Age 72

Wm. J. Lhota

President -Energy Delivery,American Electric Power;Executive Vice President,American Electric PowerService CorporationJoined Board: 1990Age 61

Daniel B. Benhase Richard A. Cheap

Executive Vice President General Counsel andSecretary

Robert H. Schottenstein George A. Skestos Lewis R. Smoot, Sr.

Vice Chairman andPresident,M/I SchottensteinHomes, Inc.Joined Board: 1997Age 48

Retired Chairmanand President,Homewood CorporationJoined Board: 1995Age 73

President and ChiefExecutive Officer,The Smoot CorporationJoined Board: 1995Age 67

Timothy P. Smucker

Chairman,The J.M. Smucker CompanyJoined Board: 1978Age 56

Frank Wobst

Don M. Casto III

Chairman,Huntington BancsharesIncorporatedJoined Board: 1974Age 67

Martin Mahan

Executive Vice President

President and ChiefExecutive Officer,Huntington BancsharesIncorporatedJoined Board: 2001Age 51

Thomas E. HoaglinPatricia T. Hayot

Head of ColumbusSchool for GirlsJoined Board: 1996Age 55

John B. Gerlach, Jr.

Chairman, President, andChief Executive Officer,Lancaster ColonyCorporationJoined Board: 1999Age 46

Board of Directors Principal Officers

20

Stock and Dividend Information

2000 Cash Dividend Data(1)

Per CommonQuarter Record Date Payment Date Share Amount

I March 16, 2000 April 3, 2000 $ .18

II June 16, 2000 July 3, 2000 .18

III September 15, 2000 October 2, 2000 .20

IV December 15, 2000 January 2, 2001 .20

Anticipated 2001 Dividend Payable Dates*

High $21.818 $30.888 $28.550 $29.207 $19.722 $15.755

Low 12.516 19.489 18.182 17.075 13.971 9.979

Close 16.188 21.705 24.845 27.047 18.015 14.902

Price/Earnings(2) 11.16x 13.40x 17.68x 20.22x 14.65x 13.48x(1) Restated for stock dividends and stock splits.(2) Based on closing stock price and earnings per share as of and for the year ended December 31.

Common Stock Price(1)

2000 1999 1998 1997 1996 1995

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000(December 31, 1990 -December 31, 2000)

(Assumes initial investment of $1,000 and reinvestment of all dividends.)

$1,000

10-Year Total Return To Shareholders

$6,000

$4,000

$2,000

$0

$6,1 4 1

10-Year Compound Average Annual Total Return: Huntington 19.9% S&P 500 17.3%

$4,996

Cash Dividends Stock Distribution Date ofDeclared (1) Dividends/Splits Stock Dividend/Split

1981 .09 3/2 Stock Split 8/24/81

1982 .11 10% Stock Dividend 8/25/82

1983 .11 10% Stock Dividend 8/25/83

1984 .13 10% Stock Dividend 8/24/84

1985 .14 2/1 Stock Split 7/31/85

1986 .15 10% Stock Dividend 7/31/86

1987 .17 10% Stock Dividend 7/31/87

1988 .19 5/4 Stock Split 7/31/88

1989 .21 15% Stock Dividend 7/31/89

1990 .24 10% Stock Dividend 7/31/90

1991 .27 5% Stock Dividend 7/31/91

1992 .30 5/4 Stock Split 7/31/92

1993 .35 10% Stock Dividend 7/30/93

1994 .42 5/4 Stock Split 7/29/94

1995 .46 5% Stock Dividend 7/31/95

1996 .51 10% Stock Dividend 7/31/96

1997 .56 10% Stock Dividend 7/31/97

1998 .62 10% Stock Dividend 7/31/98

1999 .68 10% Stock Dividend 7/30/99

2000 .76 10% Stock Dividend 7/31/00

(1) Restated for stock dividends and stock splits.

20-Year Dividend History

First Quarter....................................April 2, 2001Second Quarter.................................July 2, 2001Third Quarter ..............................October 1, 2001Fourth Quarter.............................January 2, 2002

Subject to action by Board of Directors*

80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00

$0.08

$0.76

$8,000

Cash Dividend

The total average

annual increase in

cash dividends

paid over the 20-year

span is 12%

Common Stock:The common stock of Huntington

Bancshares Incorporated is tradedon the Nasdaq Stock Market under

the symbol “HBAN.” The stockis listed as “HuntgBcshr” or

“HuntBanc” in most newspapers. Asof December 31, 2000, Huntingtonhad 32,622 shareholders of record.

Quarterly Earnings Reporting:For 2001, The Huntington’s quart-erly earnings are anticipated to be

announced during the third fullweek of April, July, October, and

January 2002.

Annual Meeting:The 2001 Annual Meeting of Share-holders will be held at 5:00 p.m.,Thursday, April 19, in the Capitol

Square Banking Lobby of TheHuntington National Bank, 17 South

High Street, Columbus, Ohio.

Credit Ratings

(3))Fitch IBCA Inc., New York, New York(Duff & Phelps merged into Fitch 6/1/00)(Thomson Bankwatch merged into Fitch 12/1/00)

Huntington Corporate Headquarters:(614) 480-8300

Analysts and investors seeking financialinformation about Huntington Bancshares

should contact:Laurie Counsel, Investor Relations Director

(614) 480-3878Cheri Gray, Investor Relations Officer

(614) 480-3803

Shareholders requesting information aboutshare balances, change of name or address,lost certificates, or other shareholder account

matters should contact: ComputershareInvestor Services (800) 725-0674

To obtain copies of the Huntington AnnualReport, Form 10-K, quarterly earnings

releases, and other financial reports, contact:Huntington’s Financial Report

Request Line(888) 480-3164

Mail online

Corporate Headquarters:Huntington Bancshares

IncorporatedHuntington Center

41 South High StreetColumbus, Ohio 43287

Investor Relations:Huntington Bancshares

IncorporatedHuntington Center

Investor Relations, HC0623Columbus, Ohio 43287

Transfer Agent/Registrar andShareholder Services:

Computershare Investor ServicesAttn: Shareholder Services

2 North LasalleChicago, Illinois

60602

www.huntington.com

For up-to-date product,corporate and financial

information

Shareholder Information

21

Ssential Huntington Numbers

Phone

Huntington Bancshares Incorporated:Senior Subordinated CommercialNotes Notes Paper

Moody’s(1) ............................... A2 A3 P1S&P(2) ..................................... A- BBB+ A2Fitch IBCA(3) ............................ A - -

The Huntington National Bank:Senior Notes Subordinated Notes

Moody’s(1) ............................... A1 A2S&P(2) ..................................... A A-Fitch IBCA(3) ............................ A -

Overall Company/Issuer Rating:Fitch IBCA(3) ................................................................................. F1(1)Moody’s Investors Service,New York, New York

(2)Standard & Poor’s Corporation,New York, New York

Huntington offers a dividend reinvestment and common stock purchaseplan which requires a minimum of one share to participate. Optional cash purchases,a feature of the plan, offer participants the opportunity to invest in Huntington at

a minimum of $200 and a maximum of $10,000 per quarter. Call 1-800-725-0674to obtain a prospectus.

Dividend reinvestment and Common Stock Purchase Plan

Fax

Company News On Call:(800) 758-5804 ext. 423276

For faxed copies of currentnews releases

® and Huntington® are federally registered service marks of Huntington Bancshares Incorporated. e-Bank® is a federally registered service markof e-Bank LLC. © 2001 Huntington Bancshares Incorporated. All rights reserved. Financial services since 1866. Design: Rickabaugh Graphics

00004

Huntington Center

Columbus, Ohio 43287

6 1 4 - 4 8 0 - 8 3 0 0

Internet Address:

www.huntington.com

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