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Zombie Bank

|Includes: Huntington Bancshares Incorporated (HBAN)

Run! This is an excellent example of a bank that is bankrupt, but remains open through accounting sleight of hand and regulatory acquiescence. The bank's leverage is applied to a pre-provision margin of -5.5% on avg. assets-its a money losing machine! Also, its capital support is an illusion given its overstatement of the value of its loans on its 9/30/09 balance sheet by $4.8B or 148% of Tier 1 Capital.

Disclosure: none