Huntington National Bank 2006 Annual Report Download - page 6

Download and view the complete annual report

Please find page 6 of the 2006 Huntington National Bank annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 130

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130

MANAGEMENT CHANGES
The appeal of our business model and service excellence value proposition also enables us to attract, retain, and promote
highly talented managers.
In March, in conjunction with the Unizan acquisition, Roger Mann and Jim Nicholson joined us as Chairman and
Region President of the East Ohio region, respectively. In April, the roles of James Dunlap, Mary Navarro and Michael
Prescott were expanded as they were appointed Regional Banking Group Presidents. Other key Regional Banking
appointments included Jon Greenwood as head of Retail Sales and Service and Jeff Rosen, head of Business Banking.
In the credit area, Richard Witherow was named Chief Credit Offi cer, and Michael Cross became Senior Lender. In
December, Rebecca Smith, was appointed Region President for East Michigan, succeeding Bruce Nyberg who will be
retiring in March. These are all strong, talented leaders and managers.
In December, two executives retired: Ronald Baldwin, Vice Chairman, and Larry Hoover, Executive Vice President and
Chief Credit Offi cer. Both played key roles in the rebuilding of Huntington over the last six years. Ron was hired in 2001
and provided critical leadership of Regional Banking and great counsel as we implemented considerable culture change
throughout Huntington. Larry served in various positions with Huntington over a distinguished 25-year career and was
particularly instrumental in implementing changes that helped to reduce the credit risk and improve the credit culture and
profi le of the company. Both served Huntington and its shareholders well. We wish them the best in their retirements.
MOVING FORWARD
We expect that 2007 will be a challenging year for regional banks. Credit quality will be an issue, yet I am confi dent that
our efforts over the last several years to improve credit underwriting and discipline and to reduce risk in our loan port-
folio will serve us well. Competition for loans and deposits will remain aggressive, though we are positioned to compete
effectively. Core fee businesses are expected to maintain their momentum, and we will keep a keen focus on expenses.
We believe that the Unizan and Sky acquisitions will transform Huntington into a more formidable Midwest banking
force. Our management team is strong and deep and committed to serving both shareholders and customers very well.
This will be a very exciting year!
Thanks for your continued support and encouragement.
Thomas E. Hoaglin
Chairman, President and CEO
March 9, 2007
LETTER TO SHAREHOLDERS
4