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| Huntington Bancshares Executive Officers File Certification Letter with the Securities and Exchange Commission |
COLUMBUS, Ohio, Aug. 14 /PRNewswire-FirstCall/ -- Huntington Bancshares Incorporated (Nasdaq: HBAN) ( http://www.huntington.com ) Chairman and Chief Executive Officer Thomas E. Hoaglin and Vice Chairman and Chief Financial Officer Michael J. McMennamin today filed certifications under oath to the U.S. Securities and Exchange Commission in response to a June 27, 2002 order by the SEC addressed to about 950 companies. The SEC's order required each CEO and CFO of named companies to certify that, to the best of his knowledge, no covered report contained an untrue statement of material fact nor omitted to state a material fact necessary to make the statements in the covered reports, in light of the circumstances under which they were made, not misleading at the time they were filed. Covered reports included the Annual Report on Form 10-K for 2001; quarterly reports on Form 10-Q for the first and second quarters of 2002; the 2002 proxy statement to shareholders and all current reports on Form 8-K filed after the Form 10-K was filed. Separately, Huntington Preferred Capital, Inc. (HPCI), a fully consolidated subsidiary of Huntington with a publicly traded class of preferred securities, requested a five day extension for filing its Form 10-Q for the quarter ending June 30, 2002, as permitted under the Securities Exchange Act of 1934. HPCI's Form 10-Q was otherwise due on August 14, 2002. The extension was requested to allow for a complete analysis and correction of the systems and methodology used to allocate financial information among Huntington's subsidiaries prior to finalizing HPCI's second quarter Form 10-Q. This allocation of income, expense and other financial information among subsidiaries takes place after Huntington's consolidated financial statements are prepared and reviewed. A preliminary review of the second quarter 2002 allocations indicated that interest income and certain charge-offs and related provision expense were not fully allocated between The Huntington National Bank (HNB) and HPCI. Further analysis has determined this discrepancy has existed since October 1999. Indications are that when corrected, HPCI's previously reported net income and equity will increase on a cumulative basis over this period. Earnings coverage of the dividends on the public preferred stock also will increase, thereby having no impact on HPCI's continued ability to pay dividends. Since HPCI and HNB are fully consolidated subsidiaries of Huntington, any reallocation of financial information between these two subsidiaries has no impact on Huntington's consolidated results of operations or financial condition. About Huntington Huntington Bancshares Incorporated is a $25 billion regional bank holding company headquartered in Columbus, Ohio. Through its affiliated companies, Huntington has more than 136 years of serving the financial needs of its customers. Huntington provides innovative retail and commercial financial products and services through more than 300 regional banking offices in Indiana, Kentucky, Michigan, Ohio and West Virginia. Huntington also offers retail and commercial financial services online at http://www.huntington.com ; through its technologically advanced, 24-hour telephone bank; and through its network of more than 900 ATMs. Selected financial service activities are also conducted in other states including: Dealer Sales offices in Florida, Tennessee, Pennsylvania and Arizona; Private Financial Group offices in Florida; and Mortgage Banking offices in Florida, Maryland and New Jersey. International banking services are made available through the headquarters office in Columbus and additional offices located in the Cayman Islands and Hong Kong.SOURCE Huntington Bancshares Incorporated
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