Huntington Bancshares Incorporated · NASDAQ:HBAN
Huntington Bancshares — Q4 2002 Earnings Presentation
64 slides from Huntington Bancshares's earnings presentation, Jan 24, 2003
Slide 1: Fourth Quarter Earnings Review
Fourth Quarter Earnings Review January 16, 2003 Exhibit 99.3
Slide 2: Meeting Participants
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
Slide 3: Basis of Presentation
Basis of Presentation Operating Basis Reported results since the 2001 second quarter 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
Slide 4: New Stock Repurchase Authorization
New Stock Repurchase Authorization Plan Specifics 8 million share repurchase authorization announced today Cancels prior 22 million share authorization with 2.6 million shares remaining Opportunistic purchases through open market and/or privately negotiated transactions No timetable set for fulfillm
Slide 5: Highlights
Highlights (1) 4Q02 3Q02 2002 2001 Change EPS - GAAP $0.36 $0.41 $1.49 $0.71 EPS - Operating 0.36 0.34 1.35 1.22 11 % Managed loan total growth (2) 13 % 11 % 10 % Core deposit growth ex. CD's (2) 3 % 16 % 13 % Net charge-offs - adjusted (3) 0.81 % 0.83 % 0.87 % NPA coverage ratio - EOP 269 % 191 % L
Slide 6: Fourth Quarter - Other Achievements
Fourth Quarter - Other Achievements Investing in the Business Early and economically advantageous disposition of problem credits Confirmation of improved deposit market share... all states... all major markets Opened six new offices in four markets Launched ATM upgrade; achieved #1 ranking in ATM re
Slide 7: 4Q 2002 Credit Actions
4Q 2002 Credit Actions Actions Sold $47 million of nonperforming assets with $21 million of incremental charge-offs Charged-off $30 million health care finance credit classified nonperforming in November Rationale Early resolution to long term workout NPAs Economically attractive transaction Results
Slide 8: Financial Performance
Financial Performance
Slide 9: 2002 Fourth Quarter Performance Highlights
2002 Fourth Quarter Performance Highlights (1) Net income $85.1 MM Earnings per share $0.36 Managed loan growth 13 % annualized Core deposit growth excluding CD's 3 % annualized Net interest margin 4.07 % Efficiency ratio 54.0 % Net charge-offs - adjusted (2) 0.81 % NPAs (3) $136.7 MM NPA coverage r
Slide 10: Performance Highlights
Performance Highlights (1) 4Q02 3Q02 2Q02 1Q02 4 Q01 EPS $0.36 $0.34 $0.33 $0.32 $ 0.32 ROA 1.26% 1.26% 1.31% 1.30% 1 ..28% ROE 15.1% 14.3% 14.0% 13.6% 1 3.4% Net interest margin 4.07% 4.26% 4.30% 4.21% 4 ..26% Efficiency ratio 54.0% 53.1% 53.2% 54.1% 5 2.7% Loan growth - annualized 13% 11% 8% 5% 1
Slide 11: 2002 Fourth Quarter Earnings
2002 Fourth Quarter Earnings (1) Change B (W) vs. 3Q02 4Q01 ($MM) 4Q02 3Q02 4Q01 Amt. Amt. P ct. Net interest income $249.7 $249.4 $235.5 $ 0.3 $14.2 6.0 % Provision (57.4) (60.2) (54.3) 2.8 (3.1) (5.8) Non-interest income 123.7 113.7 114.3 10.0 9.4 8.2 Securities gains 2.3 1.1 0.1 1.2 2.3 NM Non-in
Slide 12: Performance Trends
Performance Trends (1) Earnings Per Share (1) Operating basis Amount 1Q00 0.42 2Q00 0.4 3Q00 0.33 4Q00 0.3 1Q01 0.28 2Q01 0.3 3Q01 0.32 4Q01 0.32 1Q02 0.32 2Q02 0.33 3Q02 0.34 4Q02 0.36 Pretax Income Before LLP and Securities Gains Amount 1Q00 141.516 2Q00 150.28 3Q00 132.557 4Q00 138.92 1Q01 125 2Q
Slide 13: Performance Trends: Net Interest Income & Margin
Performance Trends (1) Net Interest Income & Margin (FTE) Earning Assets (Avg) Amount Percent 1Q00 243 0.0378 2Q00 235 0.0372 3Q00 238 0.0374 4Q00 235 0.037 1Q01 224 0.0399 2Q01 227 0.0403 3Q01 232 0.0417 4Q01 237 0.0426 1Q02 234.27 0.0421 2Q02 242.93 0.043 3Q02 251 0.0426 4Q02 251.571 0.0407 ($MM)
Slide 14: Net Interest Margin Drivers
Net Interest Margin Drivers Mortgage prepayment activity "De facto" deposit repricing floors Flattening of the yield curve Lower margin residential mortgages Loan mix...weighted toward lower rate / higher quality auto loan and lease originations
Slide 15: Managed Loan Growth
Managed Loan Growth (1) Average ($B) Annualized Growth 4Q02 vs. 3Q02 vs. 4Q02 vs. 4Q02 3Q02 2Q02 4Q01 Commercial $ 5.7 10 % (8) % (2) % Commercial real estate 3.5 (4) 8 8 Total commercial/CRE 9.2 4 (2) 2 Auto loan / lease 7.3 12 14 5 Home equity 3.2 17 18 15 Residential real estate 1.7 72 77 128 Oth
Slide 16: Core Deposit Trends
Core Deposit Trends (1) Average ($B) Annualized Growth 4Q02 vs. 3Q02 vs. 4Q02 vs. 4Q02 3Q02 2Q02 4Q01 Demand $ 2.8 6 % 16 % 4 % Interest checking 1.7 5 (9) (7) Savings / MMA 6.5 2 24 26 IRA's 0.7 (6) (2) (2) Core Deposits excl. CD's 11.7 3 16 13 CD's 3.3 (17) (6) (4) Total $15.0 (2) % 10 % 9 % (1) G
Slide 17: Deposit Market Share is Increasing
Deposit Market Share is Increasing (1) June 2001 June 2002 Mkt. % Rank Mkt % Rank Mkt. % Change Ohio 7 4.30 % 6 5.04 % +0.74 % Columbus 2 13.48 2 17.04 +3.56 Cleveland area 9 3.08 7 3.44 +0.36 Toledo 5 9.20 5 9.97 +0.77 Cincinnati area 5 2.35 5 2.86 +0.51 Michigan 7 3.31 7 3.68 +0.37 Detroit 7 2.75
Slide 18: Non-interest Income
Non-interest Income (1) ($MM) Better or (Worse) vs. 4Q02 3Q02 3Q02(2) 4Q01 Deposit service charges $ 41.2 $ 3.7 10 % 17 % Mortgage banking 11.4 5.1 81 (24) Brokerage / insurance 16.4 2.5 18 9 Trust services 15.3 0.3 2 4 Bank Owned Life Ins. 11.4 -- -- 20 Other service charges 10.9 0.1 -- 14 Other 17
Slide 19: Mortgage Banking
Mortgage Banking Mortgage Servicing (1) 4Q02 3Q02 2Q 02 Mortgage servicing portfolio $5.9 B $5.2 B $5 ..4 B Investor servicing portfolio $3.8 B $3.2 B $2.7 B Mortgage servicing rights $29.3 MM $27.9 MM $29 ..5 MM MSR % of investor servicing portfolio 0.78 % 0.88 % 1.00 % MSR % of equity 1.27 % 1.19
Slide 20: Non-interest Expense
Non-interest Expense (1) ($MM) Better or (Worse) vs. 4Q02 3Q02 3Q02(2) 4Q01 Personnel costs $113.9 $ (6.4) (6) % (14) % Occupancy & equipment 30.8 1.4 4 8 Outside services 17.2 (2.1) (14) (12) Professional services 8.0 (1.9) (32) (32) Marketing 6.2 1.3 17 (17) Amortization of intangibles 0.2 -- -- 9
Slide 21: Efficiency Ratio
Amount 1Q00 0.5393 2Q00 0.539 3Q00 0.5838 4Q00 0.5848 1Q01 0.595 2Q01 0.56 3Q01 0.54 4Q01 0.527 1Q02 0.541 2Q02 0.532 3Q02 0.531 4Q02 0.54 Efficiency Ratio (1) (1) Operating basis; FTE Revenue excluding securities gains
Slide 22: Credit Review
Credit Review
Slide 23: Credit Quality Overview
Credit Quality Overview (1) 4Q02 3Q02 4Q01 NPAs / total loans + OREO 0.65 % 1.05 % 1.16 % Net charge-offs - adjusted (2) 1.81 0.83 0.99 90+ days past due 0.35 0.33 0.40 Consumer 0.44 0.42 0.60 Commercial 0.27 0.22 0.22 Commercial RE 0.17 0.24 0.14 Reserve / total loans 1.76 2.00 2.05 Reserve / NPAs
Slide 24: Non-performing Asset Trends
% Lns + OREO 1Q01 117 0.0063 2Q01 156.9 0.0085 3Q01 201.163 0.0106 4Q01 219.646 0.0116 1Q02 225.53 0.0117 2Q02 223.237 0.0114 3Q02 214.1 0.0105 4Q02 136.723 0.0065 Non-performing Asset Trends (1) ($MM ) (1) Excludes impact of Florida banking operations sold in 1Q02
Slide 25: Non-Performing Asset Flow Analysis
Non-Performing Asset Flow Analysis - Reported Basis(1) Period End ($MM) 4Q02 3Q02 2Q02 1Q02 4Q01 NPA beginning of period $214.1 $223.2 $225.5 $227.5 $2 10.1 4Q02 credit actions: New 29.9 Loan losses (51.3) Sales (2) (25.8) Net impact (47.2) New 35.6 47.2 73.0 74.4 86.0 Returns to accruing status (12
Slide 26: Non-performing Assets - By Sector
Non-performing Assets - By Sector Services 0.37 Manufacturing 0.25 F.I.R.E. 0.08 Construction 0.03 Retail Trade 0.04 Agriculture 0.02 Trans./Comm. 0.02 Wholesale Trade 0.02 Energy 0.02 Other 0.15 $137 MM @ 12/31/02 % of $(77) MM change vs 9/30/02
Slide 27: Net Charge-offs - Adjusted
Net Charge-offs - Adjusted (1) Amount Percent 1Q00 18.3 0.0035 2Q00 15.5 0.003 3Q00 23.8 0.0046 4Q00 25.4 0.005 1Q01 25.829 0.0057 2Q01 34.33 0.0074 3Q01 28.894 0.0062 4Q01 46.527 0.0099 1Q02 45.529 0.0097 2Q02 42.515 0.0088 3Q02 41.843 0.0083 4Q02 93.114 0.0181 ($MM) 4Q02 3Q02 4Q0 1 Commercial 4.19
Slide 28: Vintage Performance
Vintage Performance % of Portfolio - EOP Cumulative Charge-off Vintage 12/00 12/01 3/02 6/02 9/02 12/02 6 Mo. 12 Mo. 18 Mo. Auto Loans Pre - 4Q98 18 % 6 % 3 % 2 % 1 % 1 % 4Q98 - 3Q99 25 12 11 9 6 5 4Q99 - 4Q00 57 34 30 26 22 17 0.07% 0.79% 1.72% 1Q01 - 4Q01 -- 48 43 38 31 27 0.04 0.52 1.08 1Q02 - 4Q
Slide 29: Consumer Delinquency Trends
Consumer Delinquency Trends (1) 30+ Days 1Q01 2Q01 0.0288 3Q01 0.031 4Q01 0.0332 1Q02 0.0237 2Q02 0.0226 3Q02 0.0211 4Q02 0.0226 90+ Days 1Q01 2Q01 0.0047 3Q01 0.0055 4Q01 0.006 1Q02 0.0044 2Q02 0.0041 3Q02 0.0042 4Q02 0.0044 (1) % of related outstandings at EOP. Excludes impact of Florida banking o
Slide 30: Loan Loss Reserve
Loan Loss Reserve (1) Loan Loss Reserve Flow Analysis ($M) 4Q02 3Q02 2Q02 LLR- beginning $ 408.4 $ 393.0 $ 386.1 Gross charge-offs (56.9) (56.6) (57.5) Recoveries 13.3 12.9 12.6 Net charge-offs (43.6) (43.7) (44.9) Provision exp. 57.4 60.2 53.9 Credit actions chg-offs (51.3) Assets purchased -- 1.3
Slide 31: Loan Loss Reserve Adequacy
Loan Loss Reserve Adequacy - 9/30/02 LLR / Loans Union Banc Cal 2.40% KeyCorp 2.37 Huntington 2.00 Comerica 1.90 Hibernia 1.86 Huntington - 12/31/02 1.76 M&T Bank 1.66 Union Planters 1.54 National City 1.52 Fifth Third 1.50 South Trust 1.48 Banknorth Group 1.47 AmSouth 1.45 Zions 1.45 Regions Financ
Slide 32: Capital Review
Capital Review
Slide 33: Capital Trends - Reported Basis
Capital Trends - Reported Basis (1) 4Q02 3Q02 4 Q01 Tier 1 risk-based capital (2) 8.69 % 9.14 % 7.24 % Total risk-based capital (2) 11.59 12.10 10.29 Tier 1 leverage (2) 8.89 9.42 7.41 Tangible equity / assets 7.62 8.00 6.12 Double leverage (3) 88 87 104 (1) Period end (2) 4Q02 ratios are estimates
Slide 34: 2003 Outlook
2003 Outlook
Slide 35: 2002 Review - Key Strategic Accomplishments
2002 Review - Key Strategic Accomplishments $1.35 EPS consistent with $1.32 - $1.36 target established in January Completed sale of Florida banking and insurance operations Repurchased 19.2 million shares at a value of $370 million Completed building senior management team Invested in customers New
Slide 36: 2003 Goals
2003 Goals 11% - 13% EPS growth Focus on earnings drivers Small business banking Commercial banking Home equity loans Increase sales penetration - retail and commercial Open new banking offices Reduce credit costs
Slide 37: 2003 Outlook
2003 Outlook Earnings per share $1.50 - $1.53 Revenue growth mid single digits Solid loan growth Margin compression Non-interest income growth high single digits Expense growth - a challenge mid single digits Improved credit quality Net charge-offs 0.65% - 0.75%
Slide 38: Forward Looking Statement Disclosure
PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 FORWARD LOOKING STATEMENT DISCLOSURE This presentation and discussion, including related questions and answers, may contain forward-looking statements, including certain plans, expectations, goals, and projections which are subject to numerous assumpt
Slide 39: Appendix
Appendix
Slide 40: Managing Interest Rate Risk
Managing Interest Rate Risk Net Interest Income at Risk Forward Curve +/- 2% Gradual Change in Rates Economic Value at Risk Parallel Yield Curve Shift +/- 2% Instantaneous Change in Rates (1) 2% Rate Rise 2% Rate Fall 1Q00 -0.018 0.009 2Q00 -0.02 0.016 3Q00 -0.022 0.018 4Q00 -0.026 0.02 1Q01 -0.021
Slide 41: Loan Portfolio - 12/31/02
Loan Portfolio - 12/31/02 By Type of Loan - Managed (1) ($B) Amt Pct Commercial $ 5.9 26.6% Commercial RE 3.5 15.7 Total commercial 9.3 42.3 Auto leases 3.2 14.5 Auto loans 4.2 19.0 Home equity 3.2 14.5 Residential real estate 1.7 7.9 Other consumer 0.4 1.8 Total consumer 12.7 57.7 Total loans $22.1
Slide 42: Commercial Loan Portfolio - 12/31/02
Commercial Loan Portfolio - 12/31/02 $9.3 B By Industry Sector Services 0.24 Manufacturing 0.12 F.I.R.E. 0.29 Retail Trade 0.12 Construction 0.07 Wholesale Trade 0.05 Trans./Comm. 0.03 Agriculture 0.01 Energy 0.01 Other 0.0525
Slide 43: Commercial Loan Portfolio - Loans By Size
< $5 MM 18603 $5+ MM 361 $5 MM - < $10 MM 237 $10 MM - < $25 MM 115 $25 MM - < $50 MM 8 $50+ MM 1 Total 361 < $5 MM 0.6227 $5 MM - < $10 MM 0.1714 $10 MM - <$25 MM 0.1714 $25 MM - < $50 MM 0.0292 $50 MM + 0.0054 Commercial Loan Portfolio - 12/31/02 # of Loans By Size 18,603 98.1% 361 1.9% Loans By $
Slide 44: Commercial Real Estate Portfolio - Including Owner Occupied
Commercial Real Estate Portfolio - 12/31/02 Retail Industrial Office Multifamily Land Devel Single-family Hotel Health Care Raw Land Other 0.213 0.174 0.163 0.142 0.082 0.052 0.046 0.023 0.024 0.08 Retail Industri al Office Multi-family Land Devel. Hotel Single- family Health Care Other $3.5 Billion
Slide 45: Commercial Real Estate Portfolio - Excluding Owner Occupied
Commercial Real Estate Portfolio - 12/31/02 Retail Industrial Office Multifamily Land Devel Single-family Hotel Health Care Raw Land Other 0.195 0.115 0.15 0.208 0.12 0.065 0.065 0.016 0.031 0.035 Retail Industri al Office Multi-family Land Devel. Hotel Single- family Health Care Other $2.3 Billion
Slide 46: Commercial Real Estate Portfolio - 12/31/02
Columbus Cleveland Cincinnati W. MI E. MI WV ID FL 0.201 0.212 0.151 0.14 0.152 0.078 0.059 0.006 Commercial Real Estate Portfolio - 12/31/02 Construction Owner Occupied Mini-Perm Permanent 0.376 0.335 0.131 0.159 Cincinnat i Columbu s W. Michiga n E. Michiga n W. Virginia Indian a Cleveland Permane
Slide 47: 4Q 2002 Credit Actions - Impact
4Q 2002 Credit Actions - Impact 4Q02 Before After Change ($MM) 3Q02 Actions Actions vs. 3Q02 NPA - $ $214 $214 $137 $ (77) - % 1.05% 1.02 % 0.65 % (40) bp Net charge-offs $44 $44 $95 $51 0.87% 0.84 % 1.84 % 97 bp LLR / Loans 2.00% 2.00 % 1.76 % (24) bp LLR / NPAs 191% 196 % 269 % 78 pct pts
Slide 48: Consumer Loan Portfolio - 12/31/02
Consumer Loan Portfolio - 12/31/02 By Type of Loan - Managed (1) ($B) Amt Pct Auto loans & leases 7.4 58.0 % Home equity * 3.2 25.1 Residential real estate 1.7 13.7 Other consumer 0.4 3.1 Total consumer $12.7 100. 0% * Home equity lines $2.6 Home equity loans 0.6 3Q01 Auto loans & leases 0.58 Home e
Slide 49: Indirect Auto - Quarterly Production
Indirect Auto - Quarterly Production ($MM) 2Q00 3Q00 4Q00 1Q01 2Q01 3Q01 4Q01 1Q02 2Q02 3 Q02 4Q02 Loans Production $489 $651 $454 $426 $613 $667 $504 $486 $498 $ 715 $609 % new vehicles 41% 46% 45% 43% 47% 50% 39% 47% 58% 5 7% 52% Avg. FICO 702 707 712 716 722 721 723 730 732 737 735 % < 640 16.9%
Slide 50: Indirect Auto - Credit Trends
Indirect Auto - Credit Trends 30 day Delinq. 90 day Delinq. Net Charge-offs 1Q00 0 0 0 2Q00 0 0 0 3Q00 0 0 0 4Q00 0 0 0 1Q01 0 0 0 2Q01 0 0 0 3Q01 0.0343 0.0055 0.0093 4Q01 0.0409 0.0066 0.0143 1Q02 0.0223 0.0042 0.0147 2Q02 0.0229 0.0035 0.0092 3Q02 0.0213 0.0037 0.0101 4Q02 0.0251 0.0041 0.0121 Au
Slide 51: Home Equity - Quarterly Production
Home Equity - Quarterly Production ($MM) 2Q00 3Q00 4Q00 1Q01 2Q01 3Q01 4Q01 1Q02 2Q02 3 Q02 4Q02 Loans Production $87.2 $79.8 $74.2 $70.5 $93.6 $72.8 $83.2 $76.2 $81.8 $6 3.7 $64.1 Avg. LTV 80% 79% 79% 80% 80% 78% 77% 79% 75% 7 2% 72% Avg. FICO 687 686 684 689 692 695 697 697 699 698 698 % < 640 22.
Slide 52: Home Equity - Credit Underwriting
Home Equity - Credit Underwriting FICO - new prouction Risk expected loss 1Q00 684 0.0074 2Q00 687 0.0076 3Q00 686 0.0064 4Q00 684 0.0068 1Q01 689 0.0055 2Q01 692 0.0049 3Q01 695 0.0049 4Q01 697 0.0063 1Q02 697 0.0041 2Q02 699 0.0041 3Q02 698 0.0045 4Q02 698 Loans FICO - new production Risk expected
Slide 53: Total Deposit Trends
Total Deposit Trends (1) Average ($B) Annualized Growth 4Q02 vs. 3Q02 vs. 4Q02 vs. 4Q02 3Q02 2Q02 4Q01 Central Region $ 5.1 (2) % 6 % 5 % No. Ohio Region 3.5 5 15 9 Cincinnati / Dayton Region 1.4 6 2 7 Indiana Region 0.6 (25) 37 7 E. Michigan Region 1.9 (7) 11 1 W. Michigan Region 2.4 (20) (3) 6 Tot
Slide 54: Performance Trends: Loans and Core Deposits
Performance Trends (1) Loans (Avg) Core Deposits (Avg) Com'l Com'l RE Auto Ln/Lse HEL Res Mtg Other 1Q00 6.345 3.394 6.358 1.748 1.449 1.504 2Q00 6.439 3.426 6.024 1.861 1.473 1.54 3Q00 6.454 3.476 5.737 2.009 1.325 1.622 4Q00 6.543 3.533 5.689 2.119 0.94 1.666 1Q01 2Q01 5.986 3.184 5.511 2.664 0.69
Slide 55: Performance Trends: Revenue
Performance Trends (1) (1) Operating basis; excluding securities gains Revenue (FTE) Amount 1Q00 343.8 2Q00 350.4 3Q00 348.2 4Q00 364.8 1Q01 321 2Q01 338.36 3Q01 341.944 4Q01 351.129 1Q02 349.264 2Q02 357.234 3Q02 363.754 4Q02 375.253 ($MM) Y/Y % Chg 7%
Slide 56: Performance Trends: Provision and Net Income
Performance Trends (1) Loan Loss Provision (2) Net Income (1) Operating basis (2) 4Q02 excludes credit actions taken during quarter. Net Charge-offs Add'l Provision 2Q01 34 8 3Q01 36 10 4Q01 50 4 1Q02 49 2 2Q02 45 9 3Q02 44 16 4Q02 44 13 ($MM) Amount 2Q01 76 3Q01 80.9 4Q01 79.6 1Q02 79.5 2Q02 81.7 3
Slide 57: Performance Trends: Returns on Assets and Equity
Performance Trends (1) Return on Average Assets Return on Average Equity Amount 1Q00 0.0145 2Q00 0.0137 3Q00 0.0115 4Q00 0.0106 1Q01 0.0116 2Q01 0.012 3Q01 0.013 4Q01 0.0128 1Q02 0.013 2Q02 0.0131 3Q02 0.0126 4Q02 0.0126 Return on Common Equity Return on Tangible Equity 1Q00 0.1899 2Q00 0.1779 3Q00
Slide 58: Private Financial Group
Private Financial Group
Slide 59: PFG - Business Overview - 2002
PFG - Business Overview - 2002 Asset Management / 12/31/02 Assets 12/31/01 Assets Investment Advisory Mngd Total Mngd Total Personal trust $4.7 B $7.6 B $4.8 B $8.2 B Huntington Funds 2.7 2.7 2.9 2.9 Institutional trust 0.5 13.0 0.5 13.4 Corporate trust 0.2 2.5 0.2 2.6 Haberer 0.5 0.5 NA NA $8.5 B $
Slide 60: PFG - Business Overview - 4Q02
PFG - Business Overview - 4Q02 ($MM) 4Q02 vs. 4Q02vs Brokerage 4Q02 3Q02 4Q01 3Q02 (1) 4Q01 Mutual fund sales $ 36.1 $ 32.4 $ 61.9 11 % (42) % Annuity sales 150.1 151.8 128.1 (1) 17 $186.2 $184.2 $190.0 1 % (2) % Private Banking (avg. balances) Deposits $897 $821 644 9 % 39 % Loans $1,021 $919 707 1
Slide 61: PFG - Fee Based Revenue
4Q02 Revenue ($MM) vs. 4Q01 Trust fees $ 15.3 4 % Brokerage & Insurance 13.2 4 Other (2) 1.1 10 Total $ 29.6 4 % (1) Operating basis (2) Misc. banking fees on loans / deposits PFG - Fee Based Revenue (1) Trust Fees Brokerage & Insurance 1Q01 13.7 10.9 2Q01 14.4 11.1 3Q01 14.8 9.5 4Q01 14.7 12.7 1Q02
Slide 62: PFG - Huntington Funds
PFG - Huntington Funds Lipper 1 Year (12/31/02) rankings... Dividend Capture Fund Top 3% of 476 Mid Cap Fund Top 6% of 218 Growth Fund Top 10% of 612 Morningstar "5 Star" rating All equity funds in top quartile for 2002 YTD
Slide 63: PFG - Retail Investment Sales Success
PFG - Retail Investment Sales Success (1) 2002 2001 2001 Industry Huntington Huntington Average Top Quartile Sales penetration (2) 6.0% 5.3% 3.4% 4.6% Revenue penetration (3) $3,214 $2,844 $2,081 $2,821 Profit penetration (4) $1,110 $1,033 $ 679 $ 958 2002 2001 2001 Industry Average monthly (5) Hunt
Slide 64: aoa ng an
aoa ng an
Huntington Bancshares — Q4 2002 Earnings Presentation on 6ix