Huntington Bancshares Incorporated · NASDAQ:HBAN
Huntington Bancshares — IPO Roadshow (May 2009)
15 slides from Huntington Bancshares's IPO roadshow presentation, May 21, 2009
Slide 1: Capital Update
Capital Update May 20, 2009 (@ Huntington
Slide 2: Basis of Presentation
2 Basis of Presentation Use of non-GAAP financial measures This presentation contains GAAP financial measures and non-GAAP financial measures where management believes it to be helpful in understanding Huntington's results of operations or financial position. Where non-GAAP financial measures are us
Slide 3: Forward Looking Statements
3 Forward Looking Statements We caution you that this presentation contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including certain plans, expectations, goals
Slide 4: Overview of Capital Actions
Overview of Capital Actions Tier 1 Common Impact Discretionary Equity Issuance Program (DEIP): $350 MM Up to $350 MM of common stock, 17% of current market cap Proceeds used for general corporate purposes and for concurrently announced hybrid tender offer Goldman, Sachs & Co. will act as sales agent
Slide 5: Rationale for Capital Actions
5 Rationale for Capital Actions Builds equity cushion to accommodate adverse credit scenarios Consistent with SCAP methodology and results Based on an internal analysis of public SCAP credit loss assumptions of regional peers applied to Huntington Better positions Huntington to repay TARP Supports l
Slide 6: Strong Pro Forma Capital Position
6 Strong Pro Forma Capital Position Tier 1 $ MM Timing Common DEIP $350 2Q 76 bp Hybrid tender (1) ~75 2Q 16 Other (2) ~250 2Q-3Q 54 ~$675 146 bp Dividend reduction Franklin Credit restructuring Convertible for common exchange Discretionary equity issuance 4Q08 1Q09 1Q09 Pro Forma 4th Qtr East 0.050
Slide 7: Strong Pro Forma Capital Position
7 Strong Pro Forma Capital Position Excludes deferred tax liability on intangible assets Completion of discretionary equity issuance program ($120 MM) and convertible exchange settled in 2Q09 ($20 MM) Assumes $350 MM discretionary equity issuance program, ~$75 MM gain from hybrid tender, and ~$250 M
Slide 8: Strong Pro Forma Capital Position
HBAN 0.0038 BBT 0.0076 KEY 0.0082 RF 0.0138 STI 0.0186 FITB 0.0347 HBAN 0.0122 KEY 0.0124 BBT 0.0129 RF 0.0174 FITB 0.0217 STI 0.027 RF 0.0067 KEY 0.015 BBT 0.0163 HBAN 0.0213 FITB 0.0508 STI 0.0522 RF 0.0008 HBAN 0.0052 BBT 0.0062 KEY 0.0081 FITB 0.018 STI 0.03 BBT 0.0093 STI 0.01 RF 0.0135 HBAN 0.
Slide 9: Strong Pro Forma Capital Position
9 Strong Pro Forma Capital Position Note: Loan balances based on regulatory financials. Excludes Franklin Credit. (1) Loss ranges represent ranges from SCAP analysis relating to the following banks: BBT, FITB, KEY, PNC, RF and STI Illustrative SCAP Analysis Outstandings 2-Yr Cumulative Losses (1) 2-
Slide 10: Strong Pro Forma Capital Position
10 Strong Pro Forma Capital Position Includes potential additional liability management initiatives, exchange of other capital instruments, adoption of new accounting standards and other management initiatives Per 10% rule Illustrative SCAP Analysis 2-Yr Cumulative Losses 2-Yr Cumulative Losses 2-Yr
Slide 11: Investment Considerations
11 Investment Considerations Aggressively addressing credit concerns Expense and margin initiatives will drive operating earnings growth Strong pro forma capital position Performance and outlook for core business are strong Line of business management team restructuring complete
Slide 12: Other Information
12 Other Information Goldman, Sachs & Co. is acting as Sales Agent for the Discretionary Equity Issuance Program (DEIP). Huntington has an existing shelf registration statement (including a base prospectus) on file with the Securities and Exchange Commission and will file a prospectus supplement rel
Slide 13: Appendix
Appendix (Huntington
Slide 14: Non-Franklin Regulatory Reporting Reconciliations
Non-Franklin Regulatory Reporting Reconciliations 14
Slide 15: Non-Franklin Regulatory Reporting Reconciliations
Non-Franklin Regulatory Reporting Reconciliations 15