Full Description

Huntington Bancshares Incorporated is a multi-state diversified financial holding company. Through its subsidiaries, the Company provides full-service commercial and consumer banking services, mortgage banking services, automobile financing, equipment leasing, investment management, trust services, brokerage services, customized insurance service programs, and other financial products and services. The Company has four lines of business: Regional Banking; Private Financial, Capital Markets, and Insurance Group (PFCMIG); Auto Finance and Dealer Services (AFDS), and Treasury/Other. The Company’s only banking subsidiary is The Huntington National Bank (the Bank). At December 31, 2008, the Bank had 345 banking offices in Ohio, 115 banking offices in Michigan, 57 banking offices in Pennsylvania, 51 banking offices in Indiana, 28 banking offices in West Virginia, 13 banking offices in Kentucky, four private banking offices in Florida, one foreign office in the Cayman Islands and one foreign office in Hong Kong. Huntington Bancshares Incorporated conducts certain activities in other states, including Arizona, Florida, Maryland, New Jersey, Tennessee, Texas, and Virginia.

Regional Banking

The Regional Banking line of business provides traditional banking products and services to consumer, small business and commercial customers located in its 11 operating regions within the six states of Ohio, Michigan, Pennsylvania, Indiana, West Virginia and Kentucky. It provides these services through a banking network of over 600 branches, and approximately 1,400 automated teller machines (ATMs), along with Internet and telephone banking channels. It also provides certain services outside of these six states, including mortgage banking and equipment leasing. Each region is further divided into retail and commercial banking units. Retail products and services include home equity loans and lines of credit, mortgage loans, direct installment loans, small business loans, personal and business deposit products, as well as sales of investment and insurance services.

At December 31, 2008, Retail Banking accounted for 52% and 85% of total Regional Banking loans and deposits, respectively. Commercial Banking serves middle market commercial banking relationships, which use a variety of banking products and services including, but not limited to, commercial loans, international trade, cash management, leasing, interest rate protection products, capital market alternatives, 401(k) plans and mezzanine investment capabilities.

Auto Finance and Dealer Services

The Company’s AFDS line of business provides a variety of banking products and services to more than 3,400 automotive dealerships within its primary banking markets, as well as in Arizona, Florida, Tennessee, Texas and Virginia. AFDS finances the purchase of automobiles by customers at the automotive dealerships; finances dealerships’ new and used vehicle inventories, land, buildings and other real estate owned by the dealership; finances dealership working capital needs, and provides other banking services to the automotive dealerships and their owners.

Private Financial, Capital Markets, and Insurance Group

The PFCMIG provides products and services designed to meet the needs of higher-net-worth customers. Revenue is earned from the sale of trust, asset management, investment advisory, brokerage and private banking products and services. The Insurance Group provides retail and commercial insurance agency services. PFCMIG also focuses on financial solutions for corporate and institutional customers that include investment banking, sales and trading of securities, mezzanine capital financing, and interest rate risk management products. PFCMIG provides investment management and custodial services to the Huntington Funds, which consists of 32 mutual funds, including 11 variable annuity funds. Huntington Funds assets represented 29% of the approximately $13.3 billion total assets under management at December 31, 2008. The Huntington Investment Company offers brokerage and investment advisory services to both Regional Banking and PFCMIG customers. PFCMIG provides an array of insurance products, including individual life insurance products ranging from basic term-life insurance to estate planning, group life and health insurance, property and casualty insurance, mortgage title insurance, and reinsurance for payment protection products.

Treasury/Other

The Treasury/Other line of business includes revenue and expense related to assets, liabilities, and equity that are not directly assigned or allocated to one of the other three business segments. Assets in this segment include investment securities, bank owned life insurance and its loan to Franklin Credit Management Corporation (Franklin).