Exhibit 99.1


		NEWS RELEASE

FOR IMMEDIATE RELEASE

Investor Contact: Roger L. Mann

Unizan Financial Corp.

President and Chief Executive Officer

Telephone: 330.438.1118 or 1.866.235.7203

E-mail address: rmann@unizan.com

Media Contact: Sandy K. Upperman

Unizan Financial Corp.

Vice President, Corporate Communications

Telephone: 330.438.4858

E-mail address: supperman@unizan.com

UNIZAN FINANCIAL CORP. REPORTS SECOND QUARTER 2005 FINANCIAL RESULTS

CANTON, Ohio – July 22, 2005 – Unizan Financial Corp. (NASDAQ: UNIZ), today reported net income of $5.0 million for the quarter ended June 30 2005, or $0.23 per diluted share, a 10% increase compared with net income of $4.5 million, or $0.20 per diluted share, for the first quarter of 2005 and a 60% increase compared with net income of $3.1 million, or $0.14 per diluted share, for the quarter ended June 30, 2004.

“Our second quarter results continue to reflect solid improvement in our net income during the first six months of 2005,” said Roger L. Mann, Unizan Financial Corp. President and Chief Executive Officer. “I continue to be extremely pleased with the commitment demonstrated by our staff as we progress through the 2005 calendar year,” concluded Mann.

Net income for the six months ended June 30, 2005 was $9.5 million, or $0.43 per diluted share, compared to $5.5 million, or $0.25 per diluted share, for the same period in 2004.

Net interest income - Net interest income was $17.1 million for the three months ended June 30, 2005, up 1.8% from the previous quarter and down 8.6% from the same quarter last year. The net interest margin was 3.07% for the second quarter of 2005 compared to 3.02% for the first quarter of 2005 and 3.09% for the second quarter of 2004 while average earning assets during the second quarter of 2005 declined 0.9% from the prior quarter and 8.1% from the year ago quarter.

Provision for loan losses – The provision for loan losses was $1.4 million for the three months ended June 30, 2005, compared to $1.3 million in the previous quarter and $3.0 million in the second quarter of 2004. The decrease compared to the year ago quarter was due to both a decrease in net charge-offs as well as a greater decline in loan balances. Net charge-offs were $2.0 million for the second quarter of 2005 compared to $1.8 million in the previous quarter and $2.6 million in the year ago quarter while loan balances decreased by $39.5 million in the second quarter of 2005 compared to $51.2 million in the first quarter of 2005 and $12.9 million in the year ago quarter. The decrease in net charge-offs from the second quarter of 2004 was attributed primarily to elimination of aircraft charge-offs which totaled $548 thousand in the 2004 quarter and were isolated to two borrowers as compared to no net charge-offs in the second quarter of 2005.

Other income - Other income, excluding net securities gains, was $7.1 million for the second quarter of 2005 compared with $7.0 million for both the first quarter of 2005 and second quarter of 2004.

Customer service fees, representing service charges on deposits and fees for other banking services, increased by $134 thousand, or 8.5%, from the first quarter of 2005 and decreased by $135 thousand, or 7.3%, from the second quarter of 2004. The increase compared to the prior quarter was mainly attributed to pricing changes for insufficient funds transactions. The decrease from the second quarter of 2004 was mainly attributed to changes in consumer behavior, particularly with respect to increased utilization of electronic and other means for payment transactions, as well as increases in earnings credits due to higher short term interest rates which offset business account service charges.

Gains on sales of loans totaled $1.1 million, compared with $1.2 million in the first quarter of 2005 and $686 thousand in the second quarter of 2004. During the second quarter of 2005, gains from the sale of the guaranteed portion of Small Business Administration (SBA) and other government guaranteed loans were $944 thousand, compared with $1.2 million of gains in the first quarter of 2005 and $480 thousand of gains in the second quarter of 2004. Second quarter 2004 gains from the sale of the guaranteed portion of SBA loans were impacted by the temporary suspension and limitations placed by the SBA on the 7(a) loan program during the first quarter of 2004.

Gains from the sale of residential mortgage loans in the second quarter of 2005 were $125 thousand compared with $25 thousand of gains in the first quarter of 2005 and $206 thousand of gains in the second quarter of 2004. The increase from the prior quarter resulted primarily from declines in mortgage rates as well as the seasonality of mortgage origination activity.

There were no net security gains in the second quarter of 2005 or the first quarter of 2005 compared to $181 thousand in the second quarter of 2004. The net gains in the second quarter of 2004 resulted primarily from the sale of the Company’s $40 million trust preferred securities portfolio which reduced its credit exposure.

Other expense - Other expense was $15.5 million for the three months ended June 30, 2005, down $604 thousand, or 3.7%, from the previous quarter and down $3.0 million, or 16.1%, from the same quarter a year ago. These decreases were primarily attributed to salaries and benefits expense which declined $371 thousand as compared to the previous quarter and $2.9 million as compared to the prior year quarter. The decrease from the prior year quarter was partially due to the recognition in the 2004 period of $1.4 million in salary expense related to the settlement of certain stock options and $425 thousand for merger related severance accruals. In addition, salaries and benefits expense in general have declined as a result of lower staffing levels. Total full time equivalent employees have declined from 695 at June 30, 2004 to 627 at December 31, 2004 and 615 at June 30, 2005. Other expense also included accounting, legal and other professional fees totaling $1.6 million, $1.3 million and $873 thousand for the quarters ended June 30, 2005, March 31, 2005 and June 30, 2004, respectively. Such costs for the June 2005 and March 2005 quarters were primarily attributed to filling staffing vacancies, outsourcing certain functions that were previously performed internally, and activities associated with reviewing, implementing and maintaining controls in accordance with provisions of Section 404 of the Sarbanes-Oxley Act of 2002. The June 2004 quarter included $398 thousand of merger related legal and professional fees as compared to minimal amounts in the 2005 quarters.

Provision for income taxes - The effective tax rate for the three months ended June 30, 2005 was 30.1% compared to 28.4% in the previous quarter and the same quarter last year. The increase in the effective tax rate was a result of tax exempt income representing a relatively smaller portion of pre-tax earnings in 2005 as compared to 2004.

Balance sheet - Total assets at June 30, 2005 were $2.49 billion compared to $2.57 billion at the end of 2004 and $2.68 billion a year ago. Assets declined 3.3% from year end 2004 and 7.0% from June 30, 2004. Compared to a year ago, loans decreased by $177.3 million, or 9.0%, which continues to be primarily attributed to the closing of the aircraft lending centers, less emphasis being placed on indirect consumer lending, competitive factors involving rate and structure and a reduction in lending staff in areas where there is significant market overlap with Huntington Bancshares Incorporated (“Huntington” – see Pending Merger below). Total deposits decreased by $11.7 million, or 0.6%, from the end of 2004 and by $38.2 million, or 2.0%, from a year ago while total borrowings have declined by $78.1 million from year end 2004 and by $167.2 million from a year ago.

Asset quality – At June 30, 2005, non-performing loans were $30.7 million, or 1.72% of total loans, compared to $30.2 million, or 1.61% of total loans, at December 31, 2004 and $27.8 million, or 1.42% of total loans, at June 30, 2004. Delinquent loans to total loans declined to 1.32% at June 30, 2005 compared to 1.60% at December 31, 2004 and 1.45% at June 30, 2004.

Non-performing loans, excluding the portion of the loans guaranteed by the government, were $24.2 million at June 30, 2005 compared to $22.8 million at December 31, 2004 and $21.7 million at June 30, 2004. The $1.4 million increase in non-performing loans from year end 2004 was mainly due to a $1.6 million increase in non-performing commercial loans while the $2.5 million increase in non-performing loans from June 30, 2004 was mainly due to a $2.4 million increase in non-performing aircraft loans.

Pending Merger

As previously announced, the Company has extended its agreement to merge with Huntington to January 27, 2006. As previously announced, Huntington has entered into formal supervisory agreements with its banking regulators, the Federal Reserve Board and Office of the Comptroller of the Currency. On March 1, 2005, Huntington announced that it intends to resubmit its applications for regulatory approval of the merger with Unizan Financial Corp. once the regulatory written agreements have been terminated. No assurances, however, can be provided as to the ultimate timing or outcome of these matters.

About Unizan

Unizan Financial Corp., a $2.5 billion holding company, is a financial services organization headquartered in Canton, Ohio. The company operates 42 full-service retail financial centers in five metropolitan markets in Ohio – Canton, Columbus, Dayton, Newark and Zanesville. Through Unizan Financial Corp.’s subsidiaries, Unizan Bank, National Association; Unizan Financial Services Group, National Association; Unizan Banc Financial Services, Inc.; and Unizan Financial Advisors, Inc., the company offers its client base corporate and retail banking, internet banking and wealth management products and services. Additionally, the company operates government guaranteed loan programs through its business lending centers in Cincinnati, Cleveland, Columbus and Dayton, Ohio; Detroit, Michigan; Mt. Arlington, New Jersey and Indianapolis, Indiana. For more information on Unizan Financial Corp. and its subsidiaries, visit the company on the Web at www.unizan.com.

Unizan Financial Corp.

CONSOLIDATED FINANCIAL HIGHLIGHTS

(Dollars in thousands, except per share data)


	2005 2nd Qtr			2005 1st Qtr		2004 4th Qtr		2004 3rd Qtr		2004 2nd Qtr
EARNINGS
Net Interest Income FTE (1)	$	17,350		17,056		17,510		16,400		18,959
Provision for loan losses		1,429		1,295		1,425		3,750		2,950
Other income		7,064		7,004		6,836		7,281		7,003
Security gains/(losses), net		—		—		(3,348	)	(60	)	181
Other expenses		15,543		16,147		15,048		15,683		18,534
FTE adjustment (1)		283		283		279		280		286
Net income	$	5,003		4,533		3,274		2,879		3,131
Net income per share - diluted	$	0.23		0.20		0.15		0.13		0.14

PERFORMANCE RATIOS
Return on average assets (ROA)		0.80	%	0.73	%	0.50	%	0.44	%	0.46	%
Return on average common equity (ROE)		6.34	%	5.84	%	4.16	%	3.71	%	4.12	%
Tangible return on average tangible assets (1)		0.91	%	0.83	%	0.60	%	0.55	%	0.57	%
Tangible return on avg. tangible common equity (1)		10.35	%	9.67	%	7.20	%	6.85	%	7.49	%
Net interest margin FTE (2)		3.07	%	3.02	%	2.97	%	2.75	%	3.09	%
Efficiency ratio (3)		61.07	%	64.41	%	58.86	%	62.03	%	59.60	%

MARKET DATA
Book value/common share	$	14.34		14.16		14.17		14.06		13.86
Tangible book value/common share		9.54		9.33		9.29		9.16		8.86
Period-end common share mkt value		26.79		26.00		26.35		27.61		26.10
Market as a % of book		186.8	%	183.6	%	186.0	%	196.4	%	188.3	%
Cash dividends/common share	$	0.135		0.135		0.135		0.135		0.135
Common stock dividend payout ratio		59.7	%	65.8	%	91.0	%	103.3	%	93.8	%
Average basic common shares		22,104,216		22,088,798		22,066,952		21,910,942		21,771,251
Average diluted common shares		22,225,063		22,200,120		22,211,146		22,052,059		21,989,444
Period end common shares		22,119,382		22,098,482		22,017,113		22,059,010		21,795,813
Common stock market capitalization	$	592,578		574,561		580,151		609,049		568,871

ASSET QUALITY
Gross charge-offs	$	3,164		2,558		3,822		2,952		3,372
Net charge-offs		2,024		1,782		2,456		2,285		2,639
Delinquency Ratio		1.32	%	1.38	%	1.60	%	1.60	%	1.45	%
Allowance for loan losses	$	25,273		25,868		26,356		26,387		24,922
Non-accrual loans		30,341		29,423		28,294		26,628		22,173
Past due 90 days or more & accruing		387		726		1,856		2,546		5,612
Other assets owned		2,133		1,604		2,612		2,254		3,850
Nonperforming assets (NPAs)		32,861		31,753		32,762		31,428		31,635
Restructured loans		5,302		5,339		2,430		2,461		2,496
Net charge-off ratio		0.45	%	0.39	%	0.52	%	0.47	%	0.54	%
Allowance/loans		1.42	%	1.42	%	1.41	%	1.39	%	1.27	%
NPL to loans		1.72	%	1.65	%	1.61	%	1.53	%	1.42	%
NPA to loans + other assets		1.84	%	1.74	%	1.75	%	1.65	%	1.61	%
Allowance to NPLs		82.25	%	85.80	%	87.42	%	90.45	%	89.70	%

AVERAGE BALANCES
Assets	$	2,497,436		2,518,865		2,579,517		2,615,839		2,713,206
Deposits		1,822,754		1,817,157		1,820,310		1,845,818		1,895,935
Loans		1,797,618		1,830,693		1,883,193		1,935,094		1,964,587
Earning assets		2,269,382		2,291,068		2,349,292		2,376,178		2,469,808
Shareholders’ equity		316,386		314,984		313,231		308,618		305,902

ENDING BALANCES
Assets	$	2,488,137		2,517,941		2,572,834		2,593,502		2,676,534
Deposits		1,829,003		1,825,307		1,840,726		1,817,768		1,867,237
Loans		1,783,708		1,823,202		1,874,393		1,903,102		1,961,035
Goodwill and other intangible assets		106,161		106,794		107,444		108,128		108,996
Earning assets		2,251,245		2,292,673		2,340,268		2,351,402		2,409,912
Total shareholders’ equity		317,175		312,870		311,925		310,186		302,026


(1)	-	Net income adjusted for amortization of intangibles, after tax, divided by average total assets or average total equity, as applicable, reduced by average goodwill and other intangibles.
(2)	-	FTE defined as fully tax-equivalent
(3)	-	Excludes amortization of intangibles. Fourth quarter 2004 excludes $246 pre-tax merger related professional fees and severance accrual. Third quarter 2004 excludes $488 pre-tax gain on sale of Wooster Financial Center and $476 pre-tax merger related professional fees and severance accrual. Second quarter 2004 excludes $1,427 pre-tax stock option expense and $823 pre-tax merger related professional fees and severance accrual.

Certain previously reported amounts may have been reclassified to conform to current reporting presentation.

Unizan Financial Corp.

CONSOLIDATED BALANCE SHEETS

(In thousands except share and per share data)


	6/30/05			3/31/05			12/31/04			09/30/04			06/30/04
ASSETS
Federal funds sold and interest bearing deposits with banks	$	6,040		$	13,149		$	7,139		$	8,408		$	5,446
Securities, net		424,481			419,750			422,566			404,104			408,021
Federal Home Loan Bank stock, at cost		37,016			36,572			36,170			35,788			35,410
Loans originated and held for sale		3,988			2,066			1,256			2,353			2,118
Loans:
Commercial, financial and agricultural		225,747			236,062			268,339			266,262			269,219
Aircraft		83,342			93,527			106,845			117,497			126,824
Commercial real estate		597,409			610,945			607,470			610,061			646,900
Residential real estate		431,219			437,819			439,866			441,338			446,738
Consumer		442,003			442,783			450,617			465,591			469,236

Total Loans less unearned income		1,779,720			1,821,136			1,873,137			1,900,749			1,958,917
Less allowance for loan losses		25,273			25,868			26,356			26,387			24,922

Net loans		1,754,447			1,795,268			1,846,781			1,874,362			1,933,995

Total earning assets		2,251,245			2,292,673			2,340,268			2,351,402			2,409,912

Cash and cash equivalents		55,965			45,347			52,057			61,072			81,111
Premises and equipment, net		21,818			22,111			22,226			22,787			23,891
Goodwill		91,971			91,971			91,971			91,971			91,971
Other intangible assets		14,190			14,823			15,473			16,157			17,025
Accrued interest receivable and other assets		78,221			76,884			77,195			76,500			77,546

Total Assets	$	2,488,137		$	2,517,941		$	2,572,834		$	2,593,502		$	2,676,534

LIABILITIES
Deposits:
Non-interest bearing deposits	$	213,026		$	209,872		$	231,004		$	213,621		$	221,027
Demand - interest bearing		196,842			202,651			219,249			229,938			242,709
Savings		527,784			528,266			526,972			517,295			494,598
Certificates and other time deposits		891,351			884,518			863,501			856,914			908,903

Total deposits		1,829,003			1,825,307			1,840,726			1,817,768			1,867,237

Total borrowings		316,261			353,791			394,373			439,400			483,485
Accrued taxes, expenses and other liabilities		25,698			25,973			25,810			26,148			23,786

Total Liabilities		2,170,962			2,205,071			2,260,909			2,283,316			2,374,508

SHAREHOLDERS’ EQUITY
Common stock ($1.00 stated value, 100,000,000 shares authorized; 22,123,069 shares issued)		22,123			22,123			22,123			22,123			22,123
Paid-in capital		220,537			220,669			220,741			221,141			223,200
Retained earnings		78,423			76,405			74,854			74,560			74,654
Stock held by deferred compensation plan, 123,732;127,063; 128,400; 122,209; and 119,274 shares at cost, respectively		(2,189	)		(2,243	)		(2,279	)		(2,112	)		(2,039	)
Treasury stock, 3,687; 24,587; 43,956; 64,059; and 327,256 shares at cost, respectively		(92	)		(646	)		(1,137	)		(1,647	)		(9,282	)
Accumulated other comprehensive loss		(1,627	)		(3,438	)		(2,377	)		(3,879	)		(6,630	)

Total Shareholders’ Equity		317,175			312,870			311,925			310,186			302,026

Total Liabilities and Shareholders’ Equity	$	2,488,137		$	2,517,941		$	2,572,834		$	2,593,502		$	2,676,534

Unizan Financial Corp.

COMPARATIVE STATEMENTS OF INCOME

(In thousands except share and per share data)


	Three months ended
	6/30/05		3/31/05		12/31/04			09/30/04			06/30/04
Interest income:
Interest on federal funds sold and interest bearing deposits with banks	$	95	$	71	$	33		$	21		$	13
Interest and dividends on securities		4,202		3,868		3,742			3,040			4,269
Interest and fees on loans and loans held for sale		27,478		26,889		27,452			26,693			27,573

Total interest income		31,775		30,828		31,227			29,754			31,855

Interest expense:
Interest on deposits		10,762		9,920		9,392			9,058			8,816
Interest on borrowings		3,946		4,135		4,596			4,576			4,366

Total interest expense		14,708		14,055		13,988			13,634			13,182

Net interest income		17,067		16,773		17,239			16,120			18,673
Provision for loan losses		1,429		1,295		1,425			3,750			2,950

Net interest income after provision for loan losses		15,638		15,478		15,814			12,370			15,723

Other income:
Trust, financial planning, brokerage and insurance sales		2,332		2,247		2,065			1,793			2,050
Customer service fees		1,713		1,579		1,784			1,854			1,848
Gains on sale of loans		1,069		1,187		1,117			1,008			686
Security gains/(losses), net		—		—		(3,348	)		(60	)		181
Other operating income		1,950		1,991		1,870			2,626			2,419

Total other income		7,064		7,004		3,488			7,221			7,184

Other expense:
Salaries, wages, pension and benefits		7,617		7,988		6,489			8,211			10,494
Occupancy expense		831		908		802			875			795
Furniture and equipment expense		486		503		533			520			572
Taxes other than income taxes		687		679		510			557			610
Intangible amortization expense		634		650		684			868			811
Other operating expense		5,288		5,419		6,030			4,652			5,252

Total other expense		15,543		16,147		15,048			15,683			18,534

Income before income taxes		7,159		6,335		4,254			3,908			4,373
Provision for income taxes		2,156		1,802		972			1,029			1,242

Net Income	$	5,003	$	4,533	$	3,282		$	2,879		$	3,131

Earnings per share:
Basic	$	0.23	$	0.21	$	0.15		$	0.13		$	0.14
Diluted	$	0.23	$	0.20	$	0.15		$	0.13		$	0.14

Dividends per share	$	0.135	$	0.135	$	0.135		$	0.135		$	0.135

Weighted average number of shares:
Basic		22,104,216		22,088,798		22,066,952			21,910,942			21,771,251
Diluted		22,225,063		22,200,120		22,211,146			22,052,059			21,989,444


NOTE:		Per share data is based on the weighted average number of shares outstanding adjusted for stock dividends or splits calculated under the treasury method.

Unizan Financial Corp.

COMPARATIVE STATEMENTS OF INCOME

(In thousands except share and per share data)


	Year to Date
	6/30/2005		6/30/2004
Interest income:
Interest on federal funds sold and interest bearing deposits with banks	$	166	$	21
Interest and dividends on securities		8,070		8,866
Interest and fees on loans and loans held for sale		54,367		55,247

Total interest income		62,603		64,134

Interest expense:
Interest on deposits		20,682		17,966
Interest on borrowings		8,081		8,703

Total interest expense		28,763		26,669

Net interest income		33,840		37,465
Provision for loan losses		2,724		3,950

Net interest income after provision for loan losses		31,116		33,515

Other income:
Trust, financial planning, brokerage and insurance sales		4,579		4,003
Customer service fees		3,292		3,692
Gains on sale of loans		2,256		1,931
Security gains, net		—		252
Other operating income		3,941		4,320

Total other income		14,068		14,198

Other expense:
Salaries, wages, pension and benefits		15,605		23,268
Occupancy expense		1,739		1,662
Furniture and equipment expense		989		1,106
Taxes other than income taxes		1,366		1,240
Intangible amortization expense		1,284		1,636
Other operating expense		10,707		11,036

Total other expense		31,690		39,948

Income before income taxes		13,494		7,765
Provision for income taxes		3,958		2,222

Net Income	$	9,536	$	5,543

Earnings per share:
Basic	$	0.43	$	0.25
Diluted	$	0.43	$	0.25

Dividends per share	$	0.270	$	0.270

Weighted average number of shares:
Basic		22,096,549		21,752,270
Diluted		22,212,560		21,980,896


NOTE:		Per share data is based on the weighted average number of shares outstanding adjusted for stock dividends or splits calculated under the treasury method.

Unizan Financial Corp.

Average Balance Sheet and Related Yields


	Three Months Ended June 30,														Six Months Ended June 30,
	2005							2004							2005							2004
(dollars in thousands)	Average Balance			Income/ Expense		Rate (1)		Average Balance			Income/ Expense		Rate (1)		Average Balance			Income/ Expense		Rate (1)		Average Balance			Income/ Expense		Rate (1)
Interest-earning assets

Interest bearing deposits and federal funds sold	$	16,094		$	95	2.37	%	$	6,070		$	13	0.86	%	$	15,088		$	166	2.22	%	$	5,233		$	21	0.81	%
Securities		455,670			4,473	3.94			499,151			4,541	3.66			451,013			8,611	3.85			504,989			9,394	3.74
Total loans (2)		1,797,618			27,490	6.13			1,964,587			27,587	5.65			1,814,064			54,392	6.05			1,967,838			55,274	5.65

Total interest-earning assets (3)		2,269,382			32,058	5.67			2,469,808			32,141	5.23			2,280,165			63,169	5.59			2,478,060			64,689	5.25

Nonearning assets:

Cash and due from banks		50,686							59,132							49,794							58,242
Other nonearning assets		202,896							208,677							203,972							209,261
Allowance for loan losses		(25,528	)						(24,411	)						(25,840	)						(24,517	)

Total assets	$	2,497,436						$	2,713,206						$	2,508,091						$	2,721,046

Interest bearing liabilities:

Demand deposits	$	198,356		$	356	0.72	%	$	246,903		$	320	0.52	%	$	203,597		$	692	0.69	%	$	252,599		$	689	0.55	%
Savings deposits		529,377			2,931	2.22			504,393			1,201	0.96			524,741			5,436	2.09			518,118			2,497	0.97
Time deposits		883,203			7,475	3.39			919,995			7,295	3.19			877,133			14,554	3.35			937,930			14,780	3.17

Total deposits		1,610,936			10,762	2.68			1,671,291			8,816	2.12			1,605,471			20,682	2.60			1,708,647			17,966	2.11
Subordinated note		20,619			521	10.13			20,619			504	9.83			20,619			1,010	9.88			20,619			1,009	9.84
Other borrowings		315,438			3,425	4.36			466,646			3,862	3.33			328,023			7,071	4.35			444,820			7,694	3.48

Total borrowings		336,057			3,946	4.71			487,265			4,366	3.60			348,642			8,081	4.67			465,439			8,703	3.76

Total interest bearing liabilities		1,946,993			14,708	3.03			2,158,556			13,182	2.46			1,954,113			28,763	2.97			2,174,086			26,669	2.47

Noninterest bearing liabilities:

Demand deposits		211,818							224,644							214,500							216,674
Other liabilities		22,238							24,104							23,789							24,271
Shareholders’ equity		316,386							305,902							315,689							306,015

Total liabilities and equity	$	2,497,435						$	2,713,206						$	2,508,091						$	2,721,046

Net interest income and interest rate spread (3)				$	17,350	2.64	%				$	18,959	2.77	%				$	34,406	2.62	%				$	38,020	2.78	%

Net interest margin (4)						3.07	%						3.09	%						3.04	%						3.09	%

(1)	Calculated on an annualized basis.

(2)	Loan fees are included in interest income on loans.

(3)	Interest income is computed on a fully tax equivalent (FTE) basis, using a tax rate of 35%.

(4)	The net interest margin represents net interest income as a percentage of average interest-earning assets.

Unizan Financial Corp.

NONPERFORMING AND UNDERPERFORMING ASSETS


(dollars in thousands)	6/30/05			3/31/05			12/31/04			09/30/04			06/30/04
Non-performing loans:
Commercial	$	3,284		$	1,588		$	1,689		$	1,683		$	3,180
Commercial real estate		5,255			6,477			6,453			5,620			5,433
Government guaranteed		8,559			8,690			9,266			9,438			7,926
Aircraft		2,734			2,950			2,826			2,450			291
Residential real estate		9,214			8,931			8,375			8,577			9,563
Direct installment loans		30			28			111			63			45
Indirect installment loans		6			67			204			160			155
Home equity		1,646			1,418			1,226			1,183			1,192

Total non-performing loans		30,728			30,149			30,150			29,174			27,785
Less: Government guaranteed amount		6,483			6,739			7,294			7,023			6,080

Total non-performing loans excluding government guaranteed amount	$	24,245		$	23,410		$	22,856		$	22,151		$	21,705

Total non-performing loans	$	30,728		$	30,149		$	30,150		$	29,174		$	27,785
Other assets owned		2,133			1,604			2,612			2,254			3,850

Total non-performing assets		32,861			31,753			32,762			31,428			31,635
Less: Government guaranteed amount		6,829			7,085			7,976			7,759			6,816

Total non-performing assets excluding government guaranteed amount	$	26,032		$	24,668		$	24,786		$	23,669		$	24,819

Restructured loans	$	5,302		$	5,339		$	2,430		$	2,461		$	2,496

Ratio of:
Non-performing loans to total loans		1.72	%		1.65	%		1.61	%		1.53	%		1.42	%
Non-performing assets to total assets		1.32	%		1.26	%		1.27	%		1.21	%		1.18	%
Non-performing assets to total loans + other assets		1.84	%		1.74	%		1.75	%		1.65	%		1.61	%
Allowance to total loans		1.42	%		1.42	%		1.41	%		1.39	%		1.27	%
Allowance to non-performing loans		82.25	%		85.80	%		87.42	%		90.45	%		89.70	%

Ratio of (excluding government guaranteed amount):
Non-performing loans to total loans		1.36	%		1.29	%		1.22	%		1.17	%		1.11	%
Non-performing assets to total assets		1.05	%		0.98	%		0.96	%		0.91	%		0.93	%
Non-performing assets to total loans + other assets		1.46	%		1.35	%		1.32	%		1.24	%		1.26	%
Allowance to non-performing loans		104.24	%		110.50	%		115.31	%		119.12	%		114.82	%

NET CHARGE-OFFS TO AVERAGE LOANS AND LEASES

Average loans and leases:
Commercial	$	149,892		$	159,226		$	187,149		$	195,561		$	198,914
Commercial real estate		605,529			607,789			607,848			636,693			653,138
Government guaranteed		73,627			75,817			72,949			64,643			61,280
Aircraft		87,516			100,834			111,681			121,690			132,578
Residential real estate		436,273			439,089			441,000			444,772			448,009
Indirect installment loans		88,535			93,285			101,154			108,903			116,422
Home equity		325,013			322,376			326,656			326,582			317,320
Other consumer		31,233			32,277			34,756			36,250			36,926

Total average loans and leases	$	1,797,618		$	1,830,693		$	1,883,193		$	1,935,094		$	1,964,587

Net charge-offs (recoveries):
Commercial	$	88		$	284		$	48		$	175		$	425
Commercial real estate		910			419			348			772			712
Government guaranteed		170			84			281			353			141
Aircraft		—			17			64			(47	)		548
Residential real estate		204			153			211			236			(21	)
Indirect installment loans		271			542			807			416			384
Home equity		174			135			228			164			196
Other consumer		207			148			469			216			254

Total	$	2,024		$	1,782		$	2,456		$	2,285		$	2,639
Net charge-offs (recoveries) to average loans and leases (annualized):
Commercial		0.23	%		0.71	%		0.10	%		0.36	%		0.85	%
Commercial real estate		0.60	%		0.28	%		0.23	%		0.49	%		0.44	%
Government guaranteed		0.92	%		0.44	%		1.54	%		2.18	%		0.92	%
Aircraft		0.00	%		0.07	%		0.23	%		-0.15	%		1.65	%
Residential real estate		0.19	%		0.14	%		0.19	%		0.21	%		-0.02	%
Indirect installment loans		1.22	%		2.32	%		3.19	%		1.53	%		1.32	%
Home equity		0.21	%		0.17	%		0.28	%		0.20	%		0.25	%
Other consumer		2.65	%		1.83	%		5.40	%		2.38	%		2.75	%
Total		0.45	%		0.39	%		0.52	%		0.47	%		0.54	%

UNIZAN FINANCIAL CORP 8-K