hban-20250718

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

______________________________________________________________________________________________________________________________

FORM 8-K

_______________________________________________________________________________________________________________________________

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) July 18, 2025

______________________________________________________________________________________________________________________________

Huntington Bancshares Incorporated

(Exact name of registrant as specified in its charter)

_______________________________________________________________________________________________________________________________


Maryland	1-34073	31-0724920
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification No.)

Registrant's address: 41 South High Street, Columbus, Ohio 43287

Registrant’s telephone number, including area code: (614) 480-2265

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):


☒			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

_______________________________________________________________________________________________________________________________

Securities registered pursuant to Section 12(b) of the Act:


Title of class	Trading Symbol(s)	Name of exchange on which registered
Depositary Shares (each representing a 1/40th interest in a share of 4.500% Series H Non-Cumulative, perpetual preferred stock)	HBANP	NASDAQ
Depositary Shares (each representing a 1/1000th interest in a share of 5.70% Series I Non-Cumulative, perpetual preferred stock)	HBANM	NASDAQ
Depositary Shares (each representing a 1/40th interest in a share of 6.875% Series J Non-Cumulative, perpetual preferred stock)	HBANL	NASDAQ
Common Stock—Par Value $0.01 per Share	HBAN	NASDAQ

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§24012b-2).

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On July 18, 2025, Huntington Bancshares Incorporated (“Huntington”) issued a news release announcing its earnings for the quarter ended June 30, 2025. Also on July 18, 2025, Huntington made a Quarterly Financial Supplement available in the Investor Relations section of Huntington’s website. Copies of Huntington's news release and quarterly financial supplement are attached hereto as Exhibit 99.1 and Exhibit 99.2, respectively, and are incorporated by reference in this Item 2.02.

Huntington’s senior management will host an earnings conference call on July 18, 2025, at 11:00 a.m. (Eastern Time). The call may be accessed via a live Internet webcast at the Investor Relations section of Huntington’s website, www.huntington.com, or through a dial-in telephone number at (877) 407-8029; Conference ID #13754784. Slides will be available in the Investor Relations section of Huntington’s website about an hour prior to the call. A replay of the webcast will be archived in the Investor Relations section of Huntington’s website. A telephone replay will be available approximately two hours after the completion of the call through July 26, 2025 at (877) 660-6853 or (201) 612-7415; conference ID #13754784.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This communication may contain certain forward-looking statements, including, but not limited to, certain plans, expectations, goals, projections, and statements about the benefits of the proposed transaction, the plans, objectives, expectations and intentions of Huntington Bancshares Incorporated (“Huntington”) and Veritex Holdings, Inc. (“Veritex”), the expected timing of completion of the transaction, and other statements that are not historical facts and are subject to numerous assumptions, risks, and uncertainties that are beyond the control of Huntington and Veritex. Such statements are subject to numerous assumptions, risks, estimates, uncertainties and other important factors that change over time and could cause actual results to differ materially from any results, performance, or events expressed or implied by such forward-looking statements, including as a result of the factors referenced below. Statements that do not describe historical or current facts, including statements about beliefs and expectations, are forward-looking statements. Forward-looking statements may be identified by words such as expect, anticipate, continue, believe, intend, estimate, plan, trend, objective, target, goal, or similar expressions, or future or conditional verbs such as will, may, might, should, would, could, or similar variations. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995.

services including those implementing our “Fair Play” banking philosophy; changes in policies and standards for regulatory review of bank mergers; the nature, extent, timing, and results of governmental actions, examinations, reviews, reforms, regulations, and interpretations, including those related to the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Basel III regulatory capital reforms, as well as those involving the SEC, OCC, Federal Reserve, FDIC, CFPB, and state-level regulators; the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the merger agreement between Huntington and Veritex; the outcome of any legal proceedings that may be instituted against Huntington or Veritex; delays in completing the transaction; the failure to obtain necessary regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the transaction); the failure to obtain Veritex shareholder approval or to satisfy any of the other conditions to the transaction on a timely basis or at all; the possibility that the anticipated benefits of the transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where Huntington and Veritex do business; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; diversion of management’s attention from ongoing business operations and opportunities; potential adverse reactions or changes to business, customer or employee relationships, including those resulting from the announcement or completion of the transaction; the ability to complete the transaction and integration of Huntington and Veritex successfully; the dilution caused by Huntington’s issuance of additional shares of its capital stock in connection with the transaction; and other factors that may affect the future results of Huntington and Veritex. Additional factors that could cause results to differ materially from those described above can be found in Huntington’s Annual Report on Form 10-K for the year ended December 31, 2024 and in its subsequent Quarterly Reports on Form 10-Q, including for the quarter ended March 31, 2025, each of which is on file with the Securities and Exchange Commission (the “SEC”) and available in the “Investor Relations” section of Huntington’s website http://www.huntington.com, under the heading “Investor Relations” and in other documents Huntington files with the SEC, and in Veritex’s Annual Report on Form 10-K for the year ended December 31, 2024 and in its subsequent Quarterly Reports on Form 10-Q, including for the quarter ended March 31, 2025, each of which is on file with the SEC and available on Veritex’s investor relations website, ir.veritexbank.com, under the heading “Financials” and in other documents Veritex files with the SEC.

All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above. Forward-looking statements speak only as of the date they are made and are based on information available at that time. Neither Huntington nor Veritex assume any obligation to update forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in circumstances or other factors affecting forward-looking statements that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws. If Huntington or Veritex update one or more forward-looking statements, no inference should be drawn that Huntington or Veritex will make additional updates with respect to those or other forward-looking statements. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements.

IMPORTANT ADDITIONAL INFORMATION

In connection with the proposed transaction, Huntington will file with the SEC a Registration Statement on Form S-4 that will include a Proxy Statement of Veritex and a Prospectus of Huntington, as well as other relevant documents concerning the proposed transaction. The proposed transaction involving Huntington and Veritex will be submitted to Veritex’s shareholders for their consideration. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. INVESTORS AND SHAREHOLDERS OF VERITEX ARE URGED TO READ THE REGISTRATION STATEMENT AND THE PROXY STATEMENT/PROSPECTUS REGARDING THE TRANSACTION WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN

IMPORTANT INFORMATION. Shareholders will be able to obtain a free copy of the definitive proxy statement/prospectus, as well as other filings containing information about Huntington and Veritex, without charge, at the SEC’s website (http://www.sec.gov). Copies of the proxy statement/prospectus and the filings with the SEC that will be incorporated by reference in the proxy statement/prospectus can also be obtained, without charge, by directing a request to Huntington Investor Relations, Huntington Bancshares Incorporated, Huntington Center, 41 South High Street, Columbus, Ohio 43287, (800) 576-5007 or to Veritex Investor Relations, Veritex Holdings, Inc., 8214 Westchester Drive, Suite 800, Dallas, Texas 75225, (972) 349-6200.

PARTICIPANTS IN THE SOLICITATION

Huntington, Veritex, and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of Veritex in connection with the proposed transaction under the rules of the SEC. Information regarding the interests of the directors and executive officers of Huntington and Veritex and other persons who may be deemed to be participants in the solicitation of shareholders of Veritex in connection with the transaction and a description of their direct and indirect interests, by security holdings or otherwise, will be included in the definitive proxy statement/prospectus related to the transaction, which will be filed by Huntington with the SEC. Information regarding Huntington’s directors and executive officers is available in its definitive proxy statement relating to its 2025 Annual Meeting of Shareholders, which was filed with the SEC on March 6, 2025, and other documents filed by Huntington with the SEC. Information regarding Veritex’s directors and executive officers is available in its definitive proxy statement relating to its 2025 Annual Meeting of Shareholders, which was filed with the SEC on April 29, 2025, and other documents filed by Veritex with the SEC. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials filed with the SEC. Free copies of this document may be obtained as described above under “Important Additional Information.”

The information contained or incorporated by reference in Item 2.02 of this Form 8-K shall be treated as “furnished” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.

Item 9.01. Financial Statements and Exhibits.

The exhibits referenced below shall be treated as “furnished” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.

(d)Exhibits.

Exhibit 99.1 – News release of Huntington Bancshares Incorporated, dated July 18, 2025.

Exhibit 99.2 – Quarterly Financial Supplement, June 30, 2025.

EXHIBIT INDEX


Exhibit No.			Description

Exhibit 99.1			News release of Huntington Bancshares Incorporated, dated July 18, 2025
Exhibit 99.2			Quarterly Financial Supplement, June 30, 2025






Exhibit 104			Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

HUNTINGTON BANCSHARES INCORPORATED

Date:

July 18, 2025

By:

/s/ Zachary Wasserman

Zachary Wasserman

Chief Financial Officer

Exhibit 99.1

July 18, 2025

Analysts: Eric Wasserstrom ([email protected]), 312.762.2155

Media: Tracy Pesho ([email protected]), 216.276.3301

Huntington Bancshares Incorporated Reports 2025 Second-Quarter Earnings

Q2 Results Highlighted by Growth in Key Strategic Fee Revenues and Net Interest Income, Driven by Strong Loan Growth and Expanded Net Interest Margin

2025 Second-Quarter Highlights:

•Earnings per common share (EPS) for the quarter was $0.34, unchanged from the prior quarter, and $0.04 higher than the year-ago quarter.

◦The quarter included $0.04 of impact to EPS resulting from a $58 million decrease in pre-tax earnings from a securities repositioning and Notable Items that decreased pre-tax earnings by $3 million.

•Net interest income increased $41 million, or 3%, from the prior quarter, and $155 million, or 12%, from the year-ago quarter.

•Noninterest income decreased $23 million, or 5%, from the prior quarter, to $471 million. From the year-ago quarter, noninterest income decreased $20 million, or 4%. Excluding the loss on the repositioning of securities and impact of credit risk transfer transactions, noninterest income increased $37 million, or 7%, from the prior quarter and $34 million, or 7%, from the year-ago quarter.

•Average total loans and leases increased $2.3 billion, or 2%, from the prior quarter to $133.2 billion, and increased $9.8 billion, or 8%, from the year-ago quarter.

◦Average commercial loans grew $1.6 billion, or 2%, from the prior quarter and $6.7 billion, or 10%, from the year-ago quarter.

◦Average consumer loans grew $725 million, or 1%, from the prior quarter and $3.1 billion, or 6%, from the year-ago quarter.

•Average total deposits increased $1.8 billion, or 1%, from the prior quarter and $9.9 billion, or 6%, from the year-ago quarter.

•Net charge-offs of 0.20% of average total loans and leases for the quarter, 6 basis points lower than the prior quarter.

•Nonperforming asset ratio of 0.63% at quarter end, 2 basis points higher than the prior quarter.

•Allowance for credit losses (ACL) of $2.5 billion, or 1.86% of total loans and leases, at quarter end, an increase of $37 million from the prior quarter.

•Common Equity Tier 1 (CET1) risk-based capital ratio was 10.5%, at June 30, 2025, compared to 10.6% in the prior quarter. Adjusted Common Equity Tier 1, including the impact of AOCI excluding cash flow hedges, was 9.0%, up from 8.9% in the prior quarter.

•Tangible common equity (TCE) ratio of 6.6%, up from 6.3% in the prior quarter and 6.0% from a year ago.

•Tangible book value per share of $9.13, up $0.33, or 4%, from the prior quarter and up $1.24, or 16%, from a year ago.

•Announced combination with Veritex Holdings, Inc., which will accelerate Huntington’s organic growth initiatives in the dynamic Texas market.

COLUMBUS, Ohio – Huntington Bancshares Incorporated (Nasdaq: HBAN) reported net income for the 2025 second quarter of $536 million, or $0.34 per common share, an increase of $9 million, or 2%, from the prior quarter, and an increase of $62 million, or 13%, from the year-ago quarter.

Return on average assets was 1.04%, return on average common equity was 11.0%, and return on average tangible common equity (ROTCE) was 16.1%. Excluding the impact of the securities repositioning and Notable Items, ROTCE was 17.6%.

CEO Commentary:

“Our second quarter results reflect the ongoing successful execution of our organic growth strategy." said Steve Steinour, chairman, president, and CEO. "We are acquiring new customers, deepening relationships, and expanding both net interest income and fee-based revenue through the strength of our product suite and capabilities."

"Our sustained growth reflects focused execution across both our core businesses and new growth initiatives. We are leveraging our scale as we further expand our well-diversified loan portfolio and continue to deepen client relationships. We have seen both loans and deposits growth of approximately $10 billion over the last year. Our commercial specialty banking teams are delivering solid results, as we broaden capabilities and extend our national reach. The Huntington brand is gaining traction and attracting clients in our newer markets—North and South Carolina and Texas, where the combination with Veritex further supports our long-term growth ambitions."

"Credit continues to perform well, demonstrated by improved net-charge offs and stable levels of criticized and non-performing assets. This is evidence of our disciplined credit risk management and client selection."

"We remain confident in our ability to execute our strategy and sustain strong growth, while maintaining our disciplined approach to risk management. We have never been better positioned."

Table 1 – Earnings Performance Summary


	2025						2024
(in millions, except per share data)	Second			First			Fourth			Third			Second
	Quarter			Quarter			Quarter			Quarter			Quarter
Net income attributable to Huntington	$	536		$	527		$	530		$	517		$	474
Diluted earnings per common share	0.34			0.34			0.34			0.33			0.30

Return on average assets	1.04		%	1.04		%	1.05		%	1.04		%	0.98		%
Return on average common equity	11.0			11.3			11.0			10.8			10.4
Return on average tangible common equity	16.1			16.7			16.4			16.2			16.1
Net interest margin	3.11			3.10			3.03			2.98			2.99
Efficiency ratio	59.0			58.9			58.6			59.4			60.8

Tangible book value per common share	$	9.13		$	8.80		$	8.33		$	8.65		$	7.89
Cash dividends declared per common share	0.155			0.155			0.155			0.155			0.155

Average earning assets	$	191,092		$	188,299		$	185,222		$	181,891		$	178,062
Average loans and leases	133,171			130,862			128,158			124,507			123,376
Average total deposits	163,429			161,600			159,405			156,488			153,578

Tangible common equity / tangible assets ratio	6.6		%	6.3		%	6.1		%	6.4		%	6.0		%
Common equity Tier 1 risk-based capital ratio (1)	10.5			10.6			10.5			10.4			10.4

NCOs as a % of average loans and leases	0.20		%	0.26		%	0.30		%	0.30		%	0.29		%
NAL ratio	0.62			0.56			0.60			0.58			0.59
ACL as a % of total loans and leases	1.86			1.87			1.88			1.93			1.95

(1)June 30, 2025 figure is estimated.

Table 2 lists certain items that we believe are important to understanding corporate performance and trends (see Basis of Presentation).

Table 2 – Notable Items Influencing Earnings


		Pretax Impact (1)		After-tax Impact (1)
($ in millions, except per share)		Amount			Net Income		EPS (2)
Three Months Ended June 30, 2025					$	536	$	0.34
•	FDIC Deposit Insurance Fund (DIF) special assessment (3)	$	3		$	2	$	—
•	Staffing efficiencies expense (4)	(6)			(5)		(0.01)

Three Months Ended March 31, 2025					$	527	$	0.34
•	FDIC DIF special assessment (3)	$	(3)		$	(2)	$	—









Three Months Ended June 30, 2024					$	474	$	0.30
•	FDIC DIF special assessment (3)	$	(6)		$	(5)	—

(1)Favorable (unfavorable) impact.

(2)EPS reflected on a fully diluted basis.

(3)Represents the updated estimates on the uninsured deposit losses and recoverable assets related to the FDIC DIF special assessment. These amounts are recorded in deposit and other insurance expense.

(4)Staffing efficiencies include severance expense recorded in personnel costs.

Net Interest Income, Net Interest Margin, and Average Balance Sheet

Table 3 – Net Interest Income and Total Revenue


	2025				2024
($ in millions)	Second		First		Fourth		Third		Second		Change (%)
	Quarter		Quarter		Quarter		Quarter		Quarter		LQ		YOY
Net interest income	$	1,467	$	1,426	$	1,395	$	1,351	$	1,312	3	%	12	%
FTE adjustment	16		15		14		13		13		7		23
Net interest income - FTE	1,483		1,441		1,409		1,364		1,325		3		12
Noninterest income	471		494		559		523		491		(5)		(4)
Total revenue - FTE	$	1,954	$	1,935	$	1,968	$	1,887	$	1,816	1	%	8	%

Table 4 – Net Interest Margin Summary


	2025				2024
	Second		First		Fourth		Third		Second		Change (bp)
Yield / Cost	Quarter		Quarter		Quarter		Quarter		Quarter		LQ	YOY
Total earning assets	5.40	%	5.39	%	5.42	%	5.62	%	5.62	%	1	(22)
Total loans and leases	5.91		5.87		5.89		6.05		6.01		4	(10)
Total securities	3.95		4.01		4.10		4.26		4.29		(6)	(34)
Total interest-bearing liabilities	2.85		2.86		3.01		3.32		3.34		(1)	(49)
Total interest-bearing deposits	2.46		2.48		2.65		2.94		2.94		(2)	(48)

Net interest rate spread	2.55		2.53		2.41		2.30		2.28		2	27
Impact of noninterest-bearing funds on margin	0.56		0.57		0.62		0.68		0.71		(1)	(15)
Net interest margin	3.11	%	3.10	%	3.03	%	2.98	%	2.99	%	1	12

See Page 9 of Quarterly Financial Supplement for additional detail.

Fully-taxable equivalent (FTE) net interest income for the 2025 second quarter increased $158 million, or 12%, from the 2024 second quarter. The results primarily reflect a $13.0 billion, or 7%, increase in average earning assets and a 12 basis point increase in the net interest margin (NIM) to 3.11%, partially offset by a $12.9 billion, or 9%, increase in average interest-bearing liabilities. The 12 basis point increase in NIM reflected net hedging activity and a decrease in cost of funding, partially offset by a decrease in yields on interest earning assets.

Compared to the 2025 first quarter, FTE net interest income increased $42 million, or 3%, driven by an increase in average earning assets of $2.8 billion, or 1%, and an increase in NIM of 1 basis point to 3.11%, partially offset by an increase in average interest-bearing liabilities of $2.2 billion, or 1%.

Table 5 – Average Earning Assets


	2025				2024
($ in billions)	Second		First		Fourth		Third		Second		Change (%)
	Quarter		Quarter		Quarter		Quarter		Quarter		LQ		YOY
Commercial and industrial	$	59.4	$	57.6	$	55.1	$	52.2	$	51.7	3	%	15	%
Commercial real estate	10.8		11.0		11.3		11.7		12.2		(2)		(11)
Lease financing	5.5		5.5		5.4		5.2		5.1		—		8
Total commercial	75.6		74.1		71.8		69.1		69.0		2		10

Residential mortgage	24.4		24.3		24.1		24.1		23.9		1		2
Automobile	15.1		14.7		14.4		13.6		13.0		3		16
Home equity	10.2		10.1		10.1		10.1		10.1		1		1
RV and marine	5.9		6.0		6.0		6.0		6.0		(1)		(1)
Other consumer	1.9		1.8		1.7		1.6		1.5		5		24
Total consumer	57.5		56.8		56.3		55.4		54.4		1		6
Total loans and leases	133.2		130.9		128.2		124.5		123.4		2		8
Total securities	44.9		45.2		45.4		44.2		43.0		(1)		4
Interest-earning deposits with banks	12.3		11.6		11.0		12.5		11.1		5		10
Other earning assets	0.7		0.6		0.7		0.7		0.6		28		30
Total earning assets	$	191.1	$	188.3	$	185.2	$	181.9	$	178.1	1	%	7	%

See Page 7 of Quarterly Financial Supplement for additional detail.

Average earning assets for the 2025 second quarter increased $13.0 billion, or 7%, from the year-ago quarter, primarily reflecting a $9.8 billion, or 8%, increase in average total loans and leases and a $1.9 billion, or 4%, increase in average total securities. Average loan and lease balance increases were led by growth in average commercial loans of $6.7 billion, or 10%, primarily driven by a $7.7 billion, or 15%, increase in average commercial and industrial loans, partially offset by a $1.4 billion, or 11%, decrease in average commercial real estate loans. Additionally, average consumer loans increased by $3.1 billion, or 6%, primarily driven by a $2.1 billion, or 16%, increase in average automobile loans.

Compared to the 2025 first quarter, average earning assets increased $2.8 billion, or 1%, primarily reflecting a $2.3 billion, or 2%, increase in average total loans and leases. Average loan and lease balance increases were driven by an increase in average commercial loan balances of $1.6 billion, or 2%, primarily driven by a $1.8 billion, or 3%, increase in average commercial and industrial loans. Average consumer loans increased $725 million, or 1%, primarily due to an increase in average automobile loans.

Table 6 – Liabilities


	2025				2024
	Second		First		Fourth		Third		Second		Change (%)
($ in billions)	Quarter		Quarter		Quarter		Quarter		Quarter		LQ		YOY
Average balances:
Demand deposits - noninterest-bearing	$	29.2	$	28.9	$	29.6	$	28.8	$	29.6	1	%	(1)	%
Demand deposits - interest-bearing	44.7		43.6		41.8		41.9		39.4		3		13
Total demand deposits	73.9		72.5		71.4		70.7		69.0		2		7
Money market deposits	61.1		60.2		58.3		55.5		53.6		1		14
Savings deposits	15.1		14.9		14.6		14.9		15.4		2		(2)
Time deposits	13.3		14.0		15.1		15.3		15.6		(5)		(15)
Total deposits	$	163.4	$	161.6	$	159.4	$	156.5	$	153.6	1	%	6	%

Short-term borrowings	$	1.3	$	1.4	$	1.2	$	0.8	$	1.2	(12)	%	4	%
Long-term debt	17.8		16.9		16.1		15.9		15.1		5		17
Total debt	$	19.1	$	18.3	$	17.3	$	16.7	$	16.3	4	%	16	%

Total interest-bearing liabilities	$	153.2	$	151.0	$	147.2	$	144.4	$	140.3	1	%	9	%
Total liabilities	187.3		185.0		181.8		178.1		175.3		1		7

See Page 7 of Quarterly Financial Supplement for additional detail.

Average total liabilities for the 2025 second quarter increased $12.0 billion, or 7%, from the year-ago quarter, driven by increases in average total deposits of $9.9 billion, or 6%, and in average total debt of $2.7 billion, or 16%.

Compared to the 2025 first quarter, average total liabilities increased $2.2 billion, or 1%, driven by increases in average total deposits of $1.8 billion, or 1%, and in average total debt of $697 million, or 4%.

Noninterest Income

Table 7 – Noninterest Income


	2025				2024
	Second		First		Fourth		Third		Second		Change (%)
($ in millions)	Quarter		Quarter		Quarter		Quarter		Quarter		LQ		YOY
Payments and cash management revenue	$	165	$	155	$	162	$	158	$	154	6	%	7	%
Wealth and asset management revenue	102		101		93		93		90		1		13
Customer deposit and loan fees	95		86		88		86		83		10		14
Capital markets and advisory fees	84		67		120		78		73		25		15
Mortgage banking income	28		31		31		38		30		(10)		(7)
Leasing revenue	10		14		19		19		19		(29)		(47)
Insurance income	19		20		22		18		18		(5)		6
Net gains (losses) on sales of securities	(58)		—		(21)		—		—		NM		NM
Other noninterest income	26		20		45		33		24		30		8
Total noninterest income	$	471	$	494	$	559	$	523	$	491	(5)	%	(4)	%





Additional information:
Impact of mark-to-market and premiums from credit risk transfer transactions (included in other noninterest income)	$	(5)	$	(3)	$	—	$	(8)	$	(9)	67	%	(44)	%

NM - Not Meaningful

During the quarter, Huntington sold approximately $900 million of corporate debt investment securities, resulting in a pre-tax loss of $58 million. Huntington has completed the re-investment of proceeds within the quarter, re-investing in 0% risk-weighted investment securities, with an expected earn-back from the transaction of less than 3 years.

Total noninterest income for the 2025 second quarter decreased $20 million, or 4%, from the year-ago quarter. The 2025 second quarter included a $58 million loss on the sale of investment securities discussed previously and $5 million of contra revenue related to premium costs and mark-to-market associated with credit risk transfer transactions, while the 2024 second quarter included $9 million of contra revenue related to the credit risk transfer transactions. Excluding the impact from these items, noninterest income increased $34 million, or 7%. Wealth and asset management revenue increased $12 million, or 13%, largely due to higher trust and investment management income. Customer deposit and loan fees increased $12 million, or 14%, primarily due to higher loan commitment fees. Payments and cash management revenue increased $11 million, or 7%, driven by higher merchant acquiring and cash management revenues. Capital markets and advisory fees increased $11 million, or 15%, primarily due to commercial loan production related activities. These increases were partially offset by a decrease in leasing revenue of $9 million, or 47%, due to lower operating lease income and income on terminated leases.

Total noninterest income decreased $23 million, or 5%, compared to the 2025 first quarter. The 2025 second quarter included a $58 million loss on the sale of investment securities discussed previously and $5 million of contra revenue related to premium costs and mark-to-market associated with credit risk transfer transactions, while the 2025 first quarter included $3 million of contra revenue related to the credit risk transfer transactions. Excluding the impact from these items, noninterest income increased $37 million, or 7%. Capital markets and advisory fees increased $17 million, or 25%, primarily due to higher advisory fees. Payments and cash management revenue increased $10 million, or 6%, primarily due to higher card transaction revenue. Customer deposit and loan fees increased $9 million, or 10%, primarily due to higher deposit and loan commitment fees.

Noninterest Expense

Table 8 – Noninterest Expense


	2025				2024
	Second		First		Fourth		Third		Second		Change (%)
($ in millions)	Quarter		Quarter		Quarter		Quarter		Quarter		LQ		YOY
Personnel costs	$	722	$	671	$	715	$	684	$	663	8	%	9	%
Outside data processing and other services	182		170		167		167		165		7		10
Equipment	68		67		70		65		62		1		10
Net occupancy	54		65		56		57		51		(17)		6
Marketing	28		29		28		33		27		(3)		4
Deposit and other insurance expense	20		37		20		15		25		(46)		(20)
Professional services	22		22		27		21		26		—		(15)
Amortization of intangibles	11		11		12		11		12		—		(8)
Lease financing equipment depreciation	2		4		3		4		4		(50)		(50)
Other noninterest expense	88		76		80		73		82		16		7
Total noninterest expense	$	1,197	$	1,152	$	1,178	$	1,130	$	1,117	4	%	7	%
(in thousands)
Average full-time equivalent employees	20.2		20.1		20.0		20.0		19.9		—	%	2	%

Table 9 - Impact of Notable Items


	2025				2024
	Second		First		Fourth		Third		Second
($ in millions)	Quarter		Quarter		Quarter		Quarter		Quarter
Personnel costs	$	6	$	—	$	—	$	12	$	—


Net occupancy	—		—		—		1		—

Deposit and other insurance expense	(3)		3		(3)		(7)		6




Total noninterest expense	$	3	$	3	$	(3)	$	6	$	6

Table 10 - Adjusted Noninterest Expense (Non-GAAP)


	2025				2024
	Second		First		Fourth		Third		Second		Change (%)
($ in millions)	Quarter		Quarter		Quarter		Quarter		Quarter		LQ		YOY
Personnel costs	$	716	$	671	$	715	$	672	$	663	7	%	8	%
Outside data processing and other services	182		170		167		167		165		7		10
Equipment	68		67		70		65		62		1		10
Net occupancy	54		65		56		56		51		(17)		6
Marketing	28		29		28		33		27		(3)		4
Deposit and other insurance expense	23		34		23		22		19		(32)		21
Professional services	22		22		27		21		26		—		(15)
Amortization of intangibles	11		11		12		11		12		—		(8)
Lease financing equipment depreciation	2		4		3		4		4		(50)		(50)
Other noninterest expense	88		76		80		73		82		16		7
Total adjusted noninterest expense	$	1,194	$	1,149	$	1,181	$	1,124	$	1,111	4	%	7	%

Reported total noninterest expense for the 2025 second quarter increased $80 million, or 7%, from the year-ago quarter. Excluding the impact from Notable Items, noninterest expense increased $83 million, or 7%, primarily driven by higher personnel costs of $53 million, or 8%, due to higher incentive compensation and salary expense, and outside data processing and other services increased $17 million, or 6%, primarily reflecting higher technology and data expense.

Reported total noninterest expense increased $45 million, or 4%, from the 2025 first quarter. Excluding the impact from Notable Items, noninterest expense increased $45 million, or 4%, primarily driven by higher personnel costs of $45 million, or 7%, due primarily to higher incentive compensation and salary expense, and an increase in outside data process and other services of $12 million, or 7%, driven by higher technology and data expense. Partially offsetting these increases, deposit and other insurance expense decreased $11 million, or 32%, impacted by non-recurring adjustments to FDIC insurance expense in the prior quarter, and net occupancy decreased $11 million, or 17%, largely due to lower building services expense.

Credit Quality

Table 11 – Credit Quality Metrics


	2025						2024
($ in millions)	June 30,			March 31,			December 31,			September 30,			June 30,
Total nonaccrual loans and leases	$	842		$	748		$	783		$	738		$	733
Total other real estate, net	10			8			8			8			10
Other NPAs (1)	—			48			31			38			37
Total nonperforming assets	852			804			822			784			780
Accruing loans and leases past due 90+ days	241			220			239			224			175
NPAs + accruing loans & leases past due 90+ days	$	1,093		$	1,024		$	1,061		$	1,008		$	955
NAL ratio (2)	0.62		%	0.56		%	0.60		%	0.58		%	0.59		%
NPA ratio (3)	0.63			0.61			0.63			0.62			0.63
(NPAs+90 days)/(Loans+OREO)	0.81			0.77			0.82			0.80			0.77


Provision for credit losses	$	103		$	115		$	107		$	106		$	100
Net charge-offs	66			86			97			93			90
Net charge-offs / Average total loans and leases	0.20		%	0.26		%	0.30		%	0.30		%	0.29		%
Allowance for loans and lease losses (ALLL)	$	2,331		$	2,263		$	2,244		$	2,235		$	2,304
Allowance for unfunded lending commitments	184			215			202			201			119
Allowance for credit losses (ACL)	$	2,515		$	2,478		$	2,446		$	2,436		$	2,423
ALLL as a % of:
Total loans and leases	1.73		%	1.71		%	1.73		%	1.77		%	1.85		%
NALs	277			302			286			303			314
NPAs	274			281			273			285			296
ACL as a % of:
Total loans and leases	1.86		%	1.87		%	1.88		%	1.93		%	1.95		%
NALs	299			331			312			330			331
NPAs	295			308			297			311			311

(1)Other nonperforming assets include certain impaired securities and/or nonaccrual loans held-for-sale.

(2)Total NALs as a % of total loans and leases.

(3)Total NPAs as a % of sum of loans and leases, other real estate owned, and other NPAs.

See Pages 12-15 of Quarterly Financial Supplement for additional detail.

Nonperforming assets (NPAs) were $852 million, or 0.63%, of total loans and leases, OREO and other NPAs, compared to $780 million, or 0.63%, a year-ago. Nonaccrual loans and leases (NALs) were $842 million, or 0.62% of total loans and leases, compared to $733 million, or 0.59% of total loans and leases, a year-ago. The increase in NPAs was driven by an increase in commercial and industrial NALs, partially offset by decreases in commercial real estate NALs and other NPAs. On a linked quarter basis, NPAs increased $48 million, and NALs increased $94 million, or 13%. The increase in NPAs was primarily driven by increases in commercial and industrial and commercial real estate NALs, partially offset by a decrease in other NPAs.

The provision for credit losses increased $3 million year-over-year and decreased $12 million quarter-over-quarter to $103 million in the 2025 second quarter. Net charge-offs (NCOs) decreased $24 million year-over-year and $20 million quarter-over-quarter to $66 million. NCOs represented an annualized 0.20% of average loans and leases in the current quarter, down from 0.29% and 0.26% in the year-ago quarter and prior quarter, respectively. Commercial and consumer net charge-offs were 0.16% and 0.25%, respectively, for the 2025 second quarter.

The allowance for loan and lease losses (ALLL) increased $27 million from the year-ago quarter to $2.3 billion, or 1.73% of total loans and leases. The allowance for credit losses (ACL) increased by $92 million from the year-ago quarter to $2.5 billion, or 1.86% of total loans and leases, 1 basis point lower than the prior quarter and 8 basis points lower than the year-ago quarter.

Capital

Table 12 – Capital Ratios


	2025						2024
($ in billions)	June 30,			March 31,			December 31,			September 30,			June 30,
Tangible common equity / tangible assets ratio	6.6		%	6.3		%	6.1		%	6.4		%	6.0		%
Common equity tier 1 risk-based capital ratio (1)	10.5			10.6			10.5			10.4			10.4
Regulatory Tier 1 risk-based capital ratio (1)	11.8			11.9			11.9			12.1			12.1
Regulatory Total risk-based capital ratio (1)	14.1			14.3			14.3			14.1			14.3
Total risk-weighted assets (1)	$	148.6		$	144.6		$	143.7		$	142.5		$	139.4

(1)June 30, 2025 figures are estimated. The capital ratios reflect Huntington’s election to delay the impact of CECL on regulatory capital. As of June 30, 2025 and March 31, 2025, the impact of the CECL deferral was fully phased in, while 75% of the impact of the CECL deferral was phased in at December 31, 2024, September 30, 2024, and June 30, 2024.

See Pages 16-17 of Quarterly Financial Supplement for additional detail.

The tangible common equity to tangible assets ratio was 6.6% at June 30, 2025, an increase from 6.3% at March 31, 2025, driven by an increase in tangible common equity from current period earnings, net of dividends, and an improvement in accumulated other comprehensive income. Common Equity Tier 1 (CET1) risk-based capital ratio was 10.5% at June 30, 2025, compared to 10.6% at March 31, 2025, with higher risk-weighted assets during the quarter partially offset by current period earnings, net of dividends.

Income Taxes

The provision for income taxes was $96 million in the 2025 second quarter compared to $122 million in the 2025 first quarter. The effective tax rate for the 2025 second quarter was 15.0%, compared to 18.6% for the 2025 first quarter, with the decrease quarter-over-quarter driven by the remeasurement of deferred tax assets for changes in certain state tax laws which were enacted during the three months ended June 30, 2025.

At June 30, 2025, we had a net federal deferred tax asset of $674 million and a net state deferred tax asset of $106 million.

Conference Call / Webcast Information

Huntington’s senior management will host an earnings conference call on July 18, 2025, at 9:00 a.m. (Eastern Time). The call may be accessed via a live Internet webcast at the Investor Relations section of Huntington’s website, www.huntington.com, or through a dial-in telephone number at (877) 407-8029; Conference ID #13754784. Slides will be available in the Investor Relations section of Huntington’s website about an hour prior to the call. A replay of the webcast will be archived in the Investor Relations section of Huntington’s website. A telephone replay will be available approximately two hours after the completion of the call through July 26, 2025 at (877) 660-6853 or (201) 612-7415; conference ID #13754784.

Please see the 2025 Second Quarter Quarterly Financial Supplement for additional detailed financial performance metrics. This document can be found on the Investor Relations section of Huntington's website, http://www.huntington.com.

About Huntington

Huntington Bancshares Incorporated is a $208 billion asset regional bank holding company headquartered in Columbus, Ohio. Founded in 1866, The Huntington National Bank and its affiliates provide consumers, small and middle‐market businesses, corporations, municipalities, and other organizations with a comprehensive suite of banking, payments, wealth management, and risk management products and services. Huntington operates 971 branches in 13 states, with certain businesses operating in extended geographies. Visit Huntington.com for more information.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

Huntington and Veritex caution that the forward-looking statements in this communication are not guarantees of future performance and involve a number of known and unknown risks, uncertainties and assumptions that are difficult to assess and are subject to change based on factors which are, in many instances, beyond Huntington’s and Veritex’s control. While there is no assurance that any list of risks and uncertainties or risk factors is complete, below are certain factors which could cause actual results to differ materially from those contained or implied in the forward-looking statements or historical performance: changes in general economic, political, or industry conditions; deterioration in business and economic conditions, including persistent inflation, supply chain issues or labor shortages, instability in global economic conditions and geopolitical matters, as well as volatility in financial markets; changes in U.S. trade policies, including the imposition of tariffs and retaliatory tariffs; the impact of pandemics and other catastrophic events or disasters on the global economy and financial market conditions and our business, results of operations, and financial condition; the impacts related to or resulting from bank failures and other volatility, including potential increased regulatory requirements and costs, such as FDIC special assessments, long-term debt requirements and heightened capital requirements, and potential impacts to macroeconomic conditions, which could affect the ability of depository institutions, including us, to attract and retain depositors and to borrow or raise capital; unexpected outflows of uninsured deposits which may require us to sell investment securities at a loss; changing interest rates which could negatively impact the value of our portfolio of investment securities; the loss of value of our investment portfolio which could negatively impact market perceptions of us and could lead to deposit withdrawals; the effects of social media on market perceptions of us and banks generally; cybersecurity risks; uncertainty in U.S. fiscal and monetary policy, including the interest rate policies of the Federal Reserve; volatility and disruptions in global capital, foreign exchange, and credit markets; movements in interest rates; competitive pressures on product pricing and services; success, impact, and timing of our business strategies, including market acceptance of any new products or services including those implementing our “Fair Play” banking philosophy; changes in policies and standards for regulatory review of bank mergers; the nature, extent, timing, and results of governmental actions, examinations, reviews, reforms, regulations, and interpretations, including those related to the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Basel III regulatory capital reforms, as well as those involving the SEC, OCC, Federal Reserve, FDIC, CFPB, and state-level regulators; the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the merger agreement between Huntington and Veritex; the outcome of any legal proceedings that may be instituted against Huntington or Veritex; delays in completing the transaction; the failure to obtain necessary regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the transaction); the failure to obtain Veritex shareholder approval or to satisfy any of the other conditions to the transaction on a timely basis or at all; the possibility that the anticipated benefits of the transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where Huntington and Veritex do business; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; diversion of management’s attention from ongoing business operations

and opportunities; potential adverse reactions or changes to business, customer or employee relationships, including those resulting from the announcement or completion of the transaction; the ability to complete the transaction and integration of Huntington and Veritex successfully; the dilution caused by Huntington’s issuance of additional shares of its capital stock in connection with the transaction; and other factors that may affect the future results of Huntington and Veritex. Additional factors that could cause results to differ materially from those described above can be found in Huntington’s Annual Report on Form 10-K for the year ended December 31, 2024 and in its subsequent Quarterly Reports on Form 10-Q, including for the quarter ended March 31, 2025, each of which is on file with the Securities and Exchange Commission (the “SEC”) and available in the “Investor Relations” section of Huntington’s website http://www.huntington.com, under the heading “Investor Relations” and in other documents Huntington files with the SEC, and in Veritex’s Annual Report on Form 10-K for the year ended December 31, 2024 and in its subsequent Quarterly Reports on Form 10-Q, including for the quarter ended March 31, 2025, each of which is on file with the SEC and available on Veritex’s investor relations website, ir.veritexbank.com, under the heading “Financials” and in other documents Veritex files with the SEC.

IMPORTANT ADDITIONAL INFORMATION

PARTICIPANTS IN THE SOLICITATION

executive officers is available in its definitive proxy statement relating to its 2025 Annual Meeting of Shareholders, which was filed with the SEC on March 6, 2025, and other documents filed by Huntington with the SEC. Information regarding Veritex’s directors and executive officers is available in its definitive proxy statement relating to its 2025 Annual Meeting of Shareholders, which was filed with the SEC on April 29, 2025, and other documents filed by Veritex with the SEC. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials filed with the SEC. Free copies of this document may be obtained as described above under “Important Additional Information.”

Basis of Presentation

Use of Non-GAAP Financial Measures

This document contains GAAP financial measures and non-GAAP financial measures where management believes it to be helpful in understanding Huntington’s results of operations or financial position. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found in this document, the financial supplement, conference call slides, or the Form 8-K related to this document, all of which can be found in the Investor Relations section of Huntington’s website, http://www.huntington.com.

Annualized Data

Certain returns, yields, performance ratios, or quarterly growth rates are presented on an “annualized” basis. This is done for analytical and decision-making purposes to better discern underlying performance trends when compared to full-year or year-over-year amounts. For example, loan and deposit growth rates, as well as net charge-off percentages, are most often expressed in terms of an annual rate like 8%. As such, a 2% growth rate for a quarter would represent an annualized 8% growth rate.

Fully-Taxable Equivalent Interest Income and Net Interest Margin

Income from tax-exempt earning assets is increased by an amount equivalent to the taxes that would have been paid if this income had been taxable at statutory rates. This adjustment puts all earning assets, most notably tax-exempt municipal securities, and certain lease assets, on a common basis that facilitates comparison of results to results of competitors.

Rounding

Please note that items in this document may not add due to rounding.

Notable Items

From time to time, revenue, expenses, or taxes are impacted by items judged by management to be outside of ordinary banking activities and/or by items that, while they may be associated with ordinary banking activities, are so unusually large that their outsized impact is believed by management at that time to be infrequent or short term in nature. We refer to such items as “Notable Items.” Management believes it is useful to consider certain financial metrics with and without Notable Items, in order to enable a better understanding of company results, increase comparability of period-to-period results, and to evaluate and forecast those results.

Exhibit 99.2

HUNTINGTON BANCSHARES INCORPORATED

Quarterly Financial Supplement

June 30, 2025

Table of Contents


Quarterly Key Statistics			1

Year -to -Date Key Statistics			2

Consolidated Balance Sheets			4

Loans and Leases Composition			5

Deposits Composition			6

Consolidated Quarterly Average Balance Sheets			7

Consolidated Quarterly Net Interest Margin - Interest Income / Expense			8

Consolidated Quarterly Net Interest Margin - Yield s / Rates			9

Selected Quarterly Income Statement Data			10

Quarterly Mortgage Banking Noninterest Income			11

Quarterly Credit Reserves Analysis			12

Quarterly Net Charge-Off Analysis			13

Quarterly Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)			14

Quarterly Accruing Past Due Loans and Leases			15

Quarterly Capital Under Current Regulatory Standards (Basel III)			16

Quarterly Common Stock Summary, Non-Regulatory Capital, and Other Data			17

Consolidated Year -to -Date Average Balance Sheets			19

Consolidated Year -to -Date Net Interest Margin - Interest Income / Expense			20

Consolidated Year-to-Date Net Interest Margin - Yields / Rates			21

Selected Year -to -Date Income Statement Data			22

Year -to -Date Mortgage Banking Noninterest Income			23

Year -to -Date Credit Reserves Analysis			24

Year -to -Date Net Charge-Off Analysis			25

Year -to -Date Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)			26

Notes:

The preparation of financial statement data in conformity with accounting principles generally accepted in the United States (GAAP) requires management to make estimates and assumptions that affect amounts reported. Actual results could differ from those estimates.

Non-GAAP Financial Measures

This document contains GAAP financial measures and non-GAAP financial measures where management believes it to be helpful in understanding our results of operations or financial position. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found herein.

Fully-Taxable Equivalent Basis

Interest income, yields, and ratios on a FTE basis are considered non-GAAP financial measures. Management believes net interest income on a FTE basis provides a more accurate picture of the interest margin for comparison purposes. The FTE basis also allows management to assess the comparability of revenue arising from both taxable and tax-exempt sources. The FTE basis assumes a federal statutory tax rate of 21%.

Non-Regulatory Capital Ratios

In addition to capital ratios defined by banking regulators, the Company considers various other measures when evaluating capital utilization and adequacy, including:

•Tangible common equity to tangible assets,

•Tangible common equity to risk-weighted assets using Basel III definition, and

•Adjusted common equity tier 1 (CET1).

These non-regulatory capital ratios are viewed by management as useful additional methods of reflecting the level of capital available to withstand unexpected market conditions. Additionally, presentation of these ratios allows readers to compare the Company’s capitalization to other financial services companies. The tangible common equity ratios differ from capital ratios defined by banking regulators principally in that the numerator excludes preferred securities, the nature and extent of which varies among different financial services companies. The adjusted CET1 ratio differs from the defined CET1 regulatory capital ratio the Company is subject to by including the impact of accumulated other comprehensive income (loss) (AOCI) excluding cash flow hedges in the calculation of the capital ratio. These ratios are not defined in GAAP or federal banking regulations. As a result, these non-regulatory capital ratios disclosed by the Company may be considered non-GAAP financial measures.

Because there are no standardized definitions for these non-regulatory capital ratios, the Company’s calculation methods may differ from those used by other financial services companies. Also, there may be limits in the usefulness of these measures to investors. As a result, the Company encourages readers to consider the consolidated financial statements and other financial information contained in the related press release in their entirety, and not to rely on any single financial measure.

Huntington Bancshares Incorporated

Quarterly Key Statistics

(Unaudited)


	Three Months Ended
(dollar amounts in millions, except per share data)	June 30,			March 31,			June 30,			Percent Changes vs.
	2025			2025			2024			1Q25		2Q24
Net interest income (1)	$	1,483		$	1,441		$	1,325		3	%	12	%
FTE adjustment	(16)			(15)			(13)			(7)		(23)
Net interest income	1,467			1,426			1,312			3		12
Provision for credit losses	103			115			100			(10)		3
Noninterest income	471			494			491			(5)		(4)
Noninterest expense	1,197			1,152			1,117			4		7
Income before income taxes	638			653			586			(2)		9
Provision for income taxes	96			122			106			(21)		(9)
Income after income taxes	542			531			480			2		13
Income attributable to non-controlling interest	6			4			6			50		—
Net income attributable to Huntington	536			527			474			2		13
Dividends on preferred shares	27			27			35			—		(23)

Net income applicable to common shares	$	509		$	500		$	439		2	%	16	%

Net income per common share - diluted	$	0.34		$	0.34		$	0.30		—	%	13	%
Cash dividends declared per common share	0.155			0.155			0.155			—		—
Tangible book value per common share at end of period	9.13			8.80			7.89			4		16

Average common shares - basic	1,457			1,454			1,451			—		—
Average common shares - diluted	1,481			1,482			1,474			—		—
Ending common shares outstanding	1,459			1,457			1,452			—		—
Return on average assets	1.04		%	1.04		%	0.98		%
Return on average common shareholders’ equity	11.0			11.3			10.4
Return on average tangible common shareholders’ equity (2)	16.1			16.7			16.1
Net interest margin (1)	3.11			3.10			2.99
Efficiency ratio (3)	59.0			58.9			60.8
Effective tax rate	15.0			18.6			18.2
Average total assets	$	207,852		$	205,087		$	194,558		1		7
Average earning assets	191,092			188,299			178,062			1		7
Average loans and leases	133,171			130,862			123,376			2		8

Average total deposits	163,429			161,600			153,578			1		6
Average Huntington shareholders’ equity	20,548			19,997			19,254			3		7
Average common shareholders' equity	18,559			18,007			16,861			3		10
Average tangible common shareholders' equity	12,935			12,375			11,201			5		15
Total assets at end of period	207,742			209,596			196,310			(1)		6
Total Huntington shareholders’ equity at end of period	20,928			20,434			19,515			2		7

NCOs as a % of average loans and leases	0.20		%	0.26		%	0.29		%
NAL ratio	0.62			0.56			0.59
NPA ratio (4)	0.63			0.61			0.63
Allowance for loan and lease losses (ALLL) as a % of total loans and leases at the end of period	1.73			1.71			1.85
Allowance for credit losses (ACL) as a % of total loans and leases at the end of period	1.86			1.87			1.95
Common equity tier 1 risk-based capital ratio (5)	10.5			10.6			10.4
Tangible common equity / tangible asset ratio (6)	6.6			6.3			6.0

See Notes to the Quarterly and Year-to-Date Key Statistics.

Huntington Bancshares Incorporated

Year-to-Date Key Statistics

(Unaudited)


	Six Months Ended June 30,						Change
(dollar amounts in millions, except per share data)	2025			2024			Amount		Percent
Net interest income (1)	$	2,924		$	2,625		$	299	11	%
FTE adjustment	(31)			(26)			(5)		(19)
Net interest income	2,893			2,599			294		11
Provision for credit losses	218			207			11		5
Noninterest income	965			958			7		1
Noninterest expense	2,349			2,254			95		4
Income before income taxes	1,291			1,096			195		18
Provision for income taxes	218			192			26		14
Income after income taxes	1,073			904			169		19
Income attributable to non-controlling interest	10			11			(1)		(9)
Net income attributable to Huntington	1,063			893			170		19
Dividends on preferred shares	54			71			(17)		(24)

Net income applicable to common shares	$	1,009		$	822		$	187	23	%

Net income per common share - diluted	$	0.68		$	0.56		$	0.12	21	%
Cash dividends declared per common share	0.31			0.31			—		—
Average common shares - basic	1,456			1,450			6		—
Average common shares - diluted	1,482			1,474			8		1
Return on average assets	1.04		%	0.93		%
Return on average common shareholders’ equity	11.1			9.8
Return on average tangible common shareholders’ equity (2)	16.4			15.1
Net interest margin (1)	3.11			3.00
Efficiency ratio (3)	58.9			62.2
Effective tax rate	16.8			17.5
Average total assets	$	206,477		$	192,432		$	14,045	7	%
Average earning assets	189,703			175,913			13,790		8
Average loans and leases	132,023			122,653			9,370		8
Average total deposits	162,519			152,153			10,366		7

Average Huntington shareholders’ equity	20,274			19,234			1,040		5
Average common shareholders' equity	18,285			16,840			1,445		9
Average tangible common shareholders' equity	12,657			11,176			1,481		13

NCOs as a % of average loans and leases	0.23		%	0.30		%

See Notes to the Quarterly and Year-to-Date Key Statistics.

Notes to the Quarterly and Year-to-Date Key Statistics

(1)On a fully-taxable equivalent (FTE) basis assuming a 21% tax rate.

(2)Net income applicable to common shares excluding expense for amortization of intangibles for the period divided by average tangible common shareholders’ equity. Average tangible common shareholders’ equity equals average total common shareholders’ equity less average intangible assets and goodwill. Expense for amortization of intangibles and average intangible assets are net of deferred tax liability, and calculated assuming a 21% tax rate.

(3)Noninterest expense less amortization of intangibles divided by the sum of FTE net interest income and noninterest income excluding securities gains (losses).

(4)NPAs include other nonperforming assets, which includes certain impaired securities and/or nonaccrual loans held for sale, and other real estate owned.

(5)June 30, 2025 figure is estimated.

(6)Tangible common equity (total common equity less goodwill and other intangible assets) divided by tangible assets (total assets less goodwill and other intangible assets). Other intangible assets are net of deferred tax liability, calculated at a 21% tax rate.

Huntington Bancshares Incorporated

Consolidated Balance Sheets


	At June 30,		At December 31,
(dollar amounts in millions)	2025		2024		Percent Changes
	(Unaudited)
Assets
Cash and due from banks	$	1,776	$	1,685	5	%
Interest-earning deposits with banks	9,171		11,647		(21)
Trading account securities	481		53		808
Available-for-sale securities	28,330		27,273		4
Held-to-maturity securities	15,965		16,368		(2)


Other securities	878		823		7
Loans held for sale	876		654		34
Loans and leases (1)	134,960		130,042		4
Allowance for loan and lease losses	(2,331)		(2,244)		(4)
Net loans and leases	132,629		127,798		4
Bank owned life insurance	2,808		2,793		1
Accrued income and other receivables	1,675		2,190		(24)
Premises and equipment	1,104		1,066		4
Goodwill	5,561		5,561		—
Servicing rights and other intangible assets	647		677		(4)
Other assets	5,841		5,642		4
Total assets	$	207,742	$	204,230	2	%

Liabilities and shareholders' equity
Liabilities
Deposits (2)	$	163,380	$	162,448	1	%
Short-term borrowings	576		199		189	%
Long-term debt	17,467		16,374		7
Other liabilities	5,349		5,427		(1)
Total liabilities	186,772		184,448		1

Shareholders' equity
Preferred stock	1,989		1,989		—
Common stock	15		15		—
Capital surplus	15,506		15,484		—
Less treasury shares, at cost	(87)		(86)		(1)
Accumulated other comprehensive income (loss)	(2,246)		(2,866)		22
Retained earnings	5,751		5,204		11
Total Huntington shareholders’ equity	20,928		19,740		6
Non-controlling interest	42		42		—
Total equity	20,970		19,782		6
Total liabilities and equity	$	207,742	$	204,230	2	%

Common shares authorized (par value of $0.01)	2,250,000,000		2,250,000,000
Common shares outstanding	1,458,800,042		1,453,635,809
Treasury shares outstanding	6,972,708		6,984,102
Preferred stock, authorized shares	6,617,808		6,617,808
Preferred shares outstanding	877,500		877,500

(1)See page 5 for detail of loans and leases.

(2)See page 6 for detail of deposits.

Huntington Bancshares Incorporated

Loans and Leases Composition

(Unaudited)


	June 30,				March 31,				December 31,				September 30,				June 30,
(dollar amounts in millions)	2025				2025				2024				2024				2024
Ending balances by type:
Total loans and leases
Commercial:
Commercial and industrial	$	60,723	45	%	$	58,948	45	%	$	56,809	43	%	$	53,601	43	%	$	52,307	42	%
Commercial real estate:
Commercial	9,793		7		10,196		7		10,215		8		10,647		8		10,997		9
Construction	905		1		772		1		863		1		896		1		936		1
Commercial real estate	10,698		8		10,968		8		11,078		9		11,543		9		11,933		10
Lease financing	5,516		4		5,451		4		5,454		4		5,342		4		5,202		4
Total commercial	76,937		57		75,367		57		73,341		56		70,486		56		69,442		56
Consumer:
Residential mortgage	24,527		19		24,369		19		24,242		19		24,100		19		24,069		19
Automobile	15,382		11		14,877		11		14,564		11		14,003		11		13,233		11
Home equity	10,221		8		10,130		8		10,142		8		10,129		8		10,076		8
RV and marine	5,907		4		5,939		4		5,982		5		6,042		5		6,042		5
Other consumer	1,986		1		1,823		1		1,771		1		1,627		1		1,560		1
Total consumer	58,023		43		57,138		43		56,701		44		55,901		44		54,980		44
Total loans and leases	$	134,960	100	%	$	132,505	100	%	$	130,042	100	%	$	126,387	100	%	$	124,422	100	%

Ending balances by business segment:
Consumer & Regional Banking	$	73,887	55	%	$	72,653	55	%	$	72,051	56	%	$	70,742	56	%	$	69,328	56	%
Commercial Banking	60,823		45		59,726		45		57,858		44		55,441		44		54,941		44



Treasury / Other	250		—		126		—		133		—		204		—		153		—
Total loans and leases	$	134,960	100	%	$	132,505	100	%	$	130,042	100	%	$	126,387	100	%	$	124,422	100	%

Average balances by business segment:
Consumer & Regional Banking	$	73,154	55	%	$	72,043	55	%	$	71,390	56	%	$	69,759	56	%	$	68,405	56	%
Commercial Banking	59,806		45		58,588		45		56,492		44		54,464		44		54,748		44



Treasury / Other	211		—		231		—		276		—		284		—		223		—
Total loans and leases	$	133,171	100	%	$	130,862	100	%	$	128,158	100	%	$	124,507	100	%	$	123,376	100	%

Huntington Bancshares Incorporated

Deposits Composition

(Unaudited)


	June 30,				March 31,				December 31,				September 30,				June 30,
(dollar amounts in millions)	2025				2025				2024				2024				2024
Ending balances by type:
Total deposits
Demand deposits - noninterest-bearing	$	28,656	18	%	$	30,217	18	%	$	29,345	18	%	$	29,047	18	%	$	28,636	19	%
Demand deposits - interest-bearing	45,468		28		44,992		28		43,378		27		42,292		27		40,943		27
Money market deposits	60,998		37		61,608		37		60,730		37		56,434		36		54,469		35
Savings deposits	15,112		9		15,179		9		14,723		9		14,679		9		15,201		10
Time deposits	13,146		8		13,341		8		14,272		9		15,899		10		15,118		9




Total deposits	$	163,380	100	%	$	165,337	100	%	$	162,448	100	%	$	158,351	100	%	$	154,367	100	%






Ending balances by business segment:

Consumer & Regional Banking	$	111,926	68	%	$	112,972	68	%	$	111,390	69	%	$	110,107	70	%	$	110,913	72	%
Commercial Banking	43,691		27		44,090		27		43,366		26		41,597		26		38,110		25


Treasury / Other	7,763		5		8,275		5		7,692		5		6,647		4		5,344		3
Total deposits	$	163,380	100	%	$	165,337	100	%	$	162,448	100	%	$	158,351	100	%	$	154,367	100	%









Average balances by business segment:

Consumer & Regional Banking	$	112,135	69	%	$	110,974	69	%	$	110,750	70	%	$	109,884	70	%	$	110,819	72	%
Commercial Banking	43,288		26		42,714		26		41,741		26		40,153		26		36,765		24


Treasury / Other	8,006		5		7,912		5		6,914		4		6,451		4		5,994		4
Total deposits	$	163,429	100	%	$	161,600	100	%	$	159,405	100	%	$	156,488	100	%	$	153,578	100	%

Huntington Bancshares Incorporated

Consolidated Quarterly Average Balance Sheets

(Unaudited)


	Quarterly Average Balances (1)
	June 30,		March 31,		December 31,		September 30,		June 30,		Percent Changes vs.
(dollar amounts in millions)	2025		2025		2024		2024		2024		1Q25		2Q24
Assets


Interest-earning deposits with banks	$	12,264	$	11,632	$	11,027	$	12,532	$	11,116	5	%	10	%
Securities:
Trading account securities	634		487		645		136		143		30		343	%
Available-for-sale securities:
Taxable	24,015		24,245		24,778		25,434		24,184		(1)		(1)
Tax-exempt	3,251		3,254		3,056		2,699		2,684		—		21
Total available-for-sale securities	27,266		27,499		27,834		28,133		26,868		(1)		1


Held-to-maturity securities - taxable	16,130		16,358		16,053		15,078		15,211		(1)		6





Other securities	881		877		824		829		776		—		14
Total securities	44,911		45,221		45,356		44,176		42,998		(1)		4
Loans held for sale	746		584		681		676		572		28		30
Loans and leases: (2)
Commercial:
Commercial and industrial	59,393		57,555		55,136		52,194		51,724		3		15
Commercial real estate:
Commercial	9,955		10,206		10,461		10,835		11,247		(2)		(11)
Construction	830		815		818		909		916		2		(9)
Commercial real estate	10,785		11,021		11,279		11,744		12,163		(2)		(11)
Lease financing	5,458		5,476		5,424		5,180		5,071		—		8
Total commercial	75,636		74,052		71,839		69,118		68,958		2		10
Consumer:
Residential mortgage	24,423		24,299		24,127		24,074		23,909		1		2
Automobile	15,132		14,665		14,350		13,584		12,989		3		16
Home equity	10,196		10,123		10,134		10,089		10,056		1		1
RV and marine	5,921		5,951		6,009		6,046		5,966		(1)		(1)
Other consumer	1,863		1,772		1,699		1,596		1,498		5		24
Total consumer	57,535		56,810		56,319		55,389		54,418		1		6
Total loans and leases	133,171		130,862		128,158		124,507		123,376		2		8
Total earning assets	191,092		188,299		185,222		181,891		178,062		1		7
Cash and due from banks	1,407		1,404		1,348		1,407		1,340		—		5
Goodwill and other intangible assets	5,640		5,651		5,662		5,674		5,685		—		(1)


All other assets	$	9,713	$	9,733	$	9,583	$	9,306	$	9,471	—		3
Total assets	$	207,852	$	205,087	$	201,815	$	198,278	$	194,558	1	%	7	%
Liabilities and shareholders' equity
Interest-bearing deposits:
Demand deposits - interest-bearing	$	44,677	$	43,582	$	41,802	$	41,850	$	39,431	3	%	13	%
Money market deposits	61,090		60,213		58,297		55,599		53,553		1		14
Savings deposits	15,127		14,866		14,648		14,891		15,408		2		(2)
Time deposits	13,290		13,993		15,076		15,348		15,556		(5)		(15)




Total interest-bearing deposits	134,184		132,654		129,823		127,688		123,948		1		8
Short-term borrowings	1,261		1,439		1,249		826		1,214		(12)		4
Long-term debt	17,776		16,901		16,081		15,878		15,146		5		17
Total interest-bearing liabilities	153,221		150,994		147,153		144,392		140,308		1		9
Demand deposits - noninterest-bearing	29,245		28,946		29,582		28,800		29,630		1		(1)
All other liabilities	4,788		5,102		5,020		4,925		5,314		(6)		(10)
Total liabilities	187,254		185,042		181,755		178,117		175,252		1		7
Total Huntington shareholders’ equity	20,548		19,997		20,013		20,113		19,254		3		7
Non-controlling interest	50		48		47		48		52		4		(4)
Total equity	20,598		20,045		20,060		20,161		19,306		3		7
Total liabilities and equity	$	207,852	$	205,087	$	201,815	$	198,278	$	194,558	1	%	7	%

(1)Amounts include the effects of hedge and risk management activities associated with the respective asset and liability categories.

(2)Includes nonaccrual loans and leases.

Huntington Bancshares Incorporated

Consolidated Quarterly Net Interest Margin - Interest Income / Expense

(Unaudited)


	Quarterly Interest Income / Expense (1) (2)
	June 30,		March 31,		December 31,		September 30,		June 30,
(dollar amounts in millions)	2025		2025		2024		2024		2024
Assets


Interest-earning deposits with banks	$	139	$	129	$	136	$	174	$	154
Securities:
Trading account securities	6		4		8		1		2
Available-for-sale securities:
Taxable	278		287		302		331		322
Tax-exempt	41		42		38		35		34
Total available-for-sale securities	319		329		340		366		356
Held-to-maturity securities - taxable	107		108		104		93		93



Other securities	12		12		12		11		10
Total securities	444		453		464		471		461
Loans held for sale	12		9		11		12		10
Loans and leases:
Commercial:
Commercial and industrial	914		873		851		840		829
Commercial real estate:
Commercial	166		170		185		207		214
Construction	17		15		22		20		19
Commercial real estate	183		185		207		227		233
Lease financing	92		89		89		86		82
Total commercial	1,189		1,147		1,147		1,153		1,144
Consumer:
Residential mortgage	253		250		243		241		232
Automobile	219		207		205		191		172
Home equity	186		183		190		199		196
RV and marine	79		78		81		79		76
Other consumer	51		48		47		48		44
Total consumer	788		766		766		758		720
Total loans and leases	1,977		1,913		1,913		1,911		1,864
Total earning assets	$	2,572	$	2,504	$	2,524	$	2,568	$	2,489
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	$	223	$	205	$	209	$	239	$	210
Money market deposits	464		458		479		521		513
Savings deposits	11		7		6		4		3
Time deposits	124		140		169		181		181




Total interest-bearing deposits	822		810		863		945		907
Short-term borrowings	13		14		17		14		19
Long-term debt	254		239		235		245		238
Total interest-bearing liabilities	1,089		1,063		1,115		1,204		1,164
Net interest income	$	1,483	$	1,441	$	1,409	$	1,364	$	1,325

(1)Fully-taxable equivalent (FTE) income and expense calculated assuming a 21% tax rate. See page 10 for the FTE adjustment.

(2)Amounts include the effects of hedge and risk management activities associated with the respective asset and liability categories.

Huntington Bancshares Incorporated

Consolidated Quarterly Net Interest Margin - Yields / Rates

(Unaudited)


	Quarterly Average Yields / Rates
	June 30,		March 31,		December 31,		September 30,		June 30,
Fully-taxable equivalent basis (1)	2025		2025		2024		2024		2024
Assets
Interest-earning deposits with banks	4.52	%	4.45	%	4.92	%	5.55	%	5.55	%
Securities:
Trading account securities	3.72		3.67		5.39		3.28		5.10
Available-for-sale securities:
Taxable	4.62		4.73		4.87		5.21		5.33
Tax-exempt	4.93		5.22		5.00		5.23		5.07
Total available-for-sale securities	4.66		4.79		4.89		5.21		5.30
Held-to-maturity securities - taxable	2.66		2.64		2.59		2.47		2.44



Other securities	5.85		5.28		6.01		4.86		5.21
Total securities	3.95		4.01		4.10		4.26		4.29
Loans held for sale	6.43		6.48		6.28		6.92		6.81
Loans and leases: (2)
Commercial:
Commercial and industrial	6.09		6.07		6.05		6.31		6.33
Commercial real estate:
Commercial	6.59		6.66		6.91		7.47		7.53
Construction	8.16		7.47		10.64		8.52		8.41
Commercial real estate	6.71		6.72		7.18		7.55		7.60
Lease financing	6.66		6.49		6.38		6.51		6.41
Total commercial	6.22		6.19		6.25		6.53		6.56
Consumer:
Residential mortgage	4.15		4.11		4.03		4.00		3.89
Automobile	5.82		5.71		5.70		5.59		5.34
Home equity	7.32		7.33		7.42		7.86		7.86
RV and marine	5.31		5.34		5.35		5.24		5.11
Other consumer	10.88		11.01		11.18		11.69		11.75
Total consumer	5.49		5.44		5.42		5.45		5.32
Total loans and leases	5.91		5.87		5.89		6.05		6.01
Total earning assets	5.40		5.39		5.42		5.62		5.62
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	2.00		1.91		1.99		2.28		2.13
Money market deposits	3.05		3.08		3.27		3.73		3.85
Savings deposits	0.28		0.20		0.16		0.12		0.09
Time deposits	3.74		4.06		4.47		4.66		4.70
Total interest-bearing deposits	2.46		2.48		2.65		2.94		2.94
Short-term borrowings	4.37		3.87		5.37		6.52		6.31
Long-term debt	5.69		5.68		5.83		6.19		6.28
Total interest-bearing liabilities	2.85		2.86		3.01		3.32		3.34

Net interest rate spread	2.55		2.53		2.41		2.30		2.28
Impact of noninterest-bearing funds on margin	0.56		0.57		0.62		0.68		0.71
Net interest margin	3.11	%	3.10	%	3.03	%	2.98	%	2.99	%


Additional information:
Commercial Loan Derivative Impact
Commercial loans (2) (3)	6.49	%	6.57	%	6.77	%	7.21	%	7.29	%
Impact of commercial loan derivatives	(0.27)		(0.38)		(0.52)		(0.68)		(0.73)
Total commercial - as reported	6.22	%	6.19	%	6.25	%	6.53	%	6.56	%
Average SOFR	4.32	%	4.33	%	4.68	%	5.28	%	5.32	%

Total cost of deposits (4)	2.02	%	2.03	%	2.16	%	2.40	%	2.38	%

(1)Fully-taxable equivalent (FTE) yields are calculated assuming a 21% tax rate. See page 10 for the FTE adjustment.

(2)Includes nonaccrual loans and leases.

(3)Yield/rates exclude the effects of hedge and risk management activities associated with the respective asset and liability categories.

(4)Includes noninterest-bearing and interest-bearing deposit balances.

Huntington Bancshares Incorporated

Selected Quarterly Income Statement Data

(Unaudited)


	Three Months Ended
(dollar amounts in millions, except per share data)	June 30,		March 31,		December 31,		September 30,		June 30,
	2025		2025		2024		2024		2024
Interest income	$	2,556	$	2,489	$	2,510	$	2,555	$	2,476
Interest expense	1,089		1,063		1,115		1,204		1,164
Net interest income	1,467		1,426		1,395		1,351		1,312
Provision for credit losses	103		115		107		106		100
Net interest income after provision for credit losses	1,364		1,311		1,288		1,245		1,212
Payments and cash management revenue	165		155		162		158		154
Wealth and asset management revenue	102		101		93		93		90
Customer deposit and loan fees	95		86		88		86		83
Capital markets and advisory fees	84		67		120		78		73
Mortgage banking income	28		31		31		38		30
Leasing revenue	10		14		19		19		19
Insurance income	19		20		22		18		18


Net gains (losses) on sales of securities	(58)		—		(21)		—		—
Other noninterest income	26		20		45		33		24
Total noninterest income	471		494		559		523		491
Personnel costs	722		671		715		684		663
Outside data processing and other services	182		170		167		167		165
Equipment	68		67		70		65		62
Net occupancy	54		65		56		57		51
Marketing	28		29		28		33		27
Deposit and other insurance expense	20		37		20		15		25
Professional services	22		22		27		21		26
Amortization of intangibles	11		11		12		11		12
Lease financing equipment depreciation	2		4		3		4		4
Other noninterest expense	88		76		80		73		82
Total noninterest expense	1,197		1,152		1,178		1,130		1,117
Income before income taxes	638		653		669		638		586
Provision for income taxes	96		122		135		116		106
Income after income taxes	542		531		534		522		480
Income attributable to non-controlling interest	6		4		4		5		6
Net income attributable to Huntington	536		527		530		517		474
Dividends on preferred shares	27		27		27		36		35
Impact of preferred stock redemptions	—		—		5		—		—
Net income applicable to common shares	$	509	$	500	$	498	$	481	$	439

Average common shares - basic	1,457		1,454		1,453		1,453		1,451
Average common shares - diluted	1,481		1,482		1,481		1,477		1,474

Per common share
Net income - basic	$	0.35	$	0.34	$	0.34	$	0.33	$	0.30
Net income - diluted	0.34		0.34		0.34		0.33		0.30
Cash dividends declared	0.155		0.155		0.155		0.155		0.155

Revenue - fully-taxable equivalent (FTE)
Net interest income	$	1,467	$	1,426	$	1,395	$	1,351	$	1,312
FTE adjustment	16		15		14		13		13
Net interest income (1)	1,483		1,441		1,409		1,364		1,325
Noninterest income	471		494		559		523		491
Total revenue (1)	$	1,954	$	1,935	$	1,968	$	1,887	$	1,816

(1)On a fully-taxable equivalent (FTE) basis assuming a 21% tax rate.

Huntington Bancshares Incorporated

Quarterly Mortgage Banking Noninterest Income

(Unaudited)


	Three Months Ended
	June 30,			March 31,			December 31,			September 30,			June 30,			Percent Changes vs.
(dollar amounts in millions)	2025			2025			2024			2024			2024			1Q25		2Q24
Net origination and secondary marketing income	$	26		$	18		$	25		$	25		$	17		44	%	53	%
Net mortgage servicing income
Loan servicing income	26			26			26			25			25			—		4
Amortization of capitalized servicing	(18)			(13)			(16)			(14)			(14)			(38)		(29)
Operating income	8			13			10			11			11			(38)		(27)
MSR valuation adjustment (1)	—			(15)			53			(25)			11			100		(100)
(Losses) gains due to MSR hedging	(6)			15			(57)			27			(10)			(140)		40
Net MSR risk management	(6)			—			(4)			2			1			(100)		(700)
Total net mortgage servicing income	2			13			6			13			12			(85)		(83)
All other	—			—			—			—			1			—		(100)
Mortgage banking income	$	28		$	31		$	31		$	38		$	30		(10)	%	(7)	%

Mortgage origination volume	$	2,412		$	1,599		$	2,093		$	1,883		$	2,164		51	%	11	%
Mortgage origination volume for sale	1,508			938			1,220			1,194			1,191			61		27

Third party mortgage loans serviced (2)	$	33,925		$	33,864		$	33,696		$	33,565		$	33,404		—	%	2	%
Mortgage servicing rights (2)	567			564			573			515			543			1		4
MSR % of investor servicing portfolio (2)	1.67		%	1.66		%	1.70		%	1.53		%	1.63		%	1		2

(1)The change in fair value for the period represents the MSR valuation adjustment, net of amortization of capitalized servicing.

(2)At period end.

Huntington Bancshares Incorporated

Quarterly Credit Reserves Analysis

(Unaudited)


	Three Months Ended
	June 30,			March 31,			December 31,			September 30,			June 30,
(dollar amounts in millions)	2025			2025			2024			2024			2024
Allowance for loan and lease losses, beginning of period	$	2,263		$	2,244		$	2,235		$	2,304		$	2,280

Loan and lease charge-offs	(111)			(133)			(129)			(129)			(145)
Recoveries of loans and leases previously charged-off	45			47			32			36			55
Net loan and lease charge-offs	(66)			(86)			(97)			(93)			(90)
Provision for loan and lease losses	134			105			106			24			114


Allowance for loan and lease losses, end of period	2,331			2,263			2,244			2,235			2,304
Allowance for unfunded lending commitments, beginning of period	215			202			201			119			135

Provision for unfunded lending commitments	(31)			13			1			82			(16)


Allowance for unfunded lending commitments, end of period	184			215			202			201			119
Total allowance for credit losses, end of period	$	2,515		$	2,478		$	2,446		$	2,436		$	2,423
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases	1.73		%	1.71		%	1.73		%	1.77		%	1.85		%
Nonaccrual loans and leases (NALs)	277			302			286			303			314
Nonperforming assets (NPAs)	274			281			273			285			296
Total allowance for credit losses (ACL) as % of:
Total loans and leases	1.86		%	1.87		%	1.88		%	1.93		%	1.95		%
Nonaccrual loans and leases (NALs)	299			331			312			330			331
Nonperforming assets (NPAs)	295			308			297			311			311



	June 30,		March 31,		December 31,		September 30,		June 30,
(dollar amounts in millions)	2025		2025		2024		2024		2024
Allocation of allowance for credit losses
Commercial
Commercial and industrial	$	1,068	$	1,017	$	947	$	937	$	995
Commercial real estate	417		443		473		510		542
Lease financing	63		60		64		51		50
Total commercial	1,548		1,520		1,484		1,498		1,587
Consumer
Residential mortgage	208		199		205		193		199
Automobile	161		150		145		138		127
Home equity	153		140		148		149		142
RV and marine	143		146		150		150		146
Other consumer	118		108		112		107		103
Total consumer	783		743		760		737		717
Total allowance for loan and lease losses	2,331		2,263		2,244		2,235		2,304
Allowance for unfunded lending commitments	184		215		202		201		119
Total allowance for credit losses	$	2,515	$	2,478	$	2,446	$	2,436	$	2,423

Huntington Bancshares Incorporated

Quarterly Net Charge-Off Analysis

(Unaudited)


	Three Months Ended
	June 30,			March 31,			December 31,			September 30,			June 30,
(dollar amounts in millions)	2025			2025			2024			2024			2024
Net charge-offs (recoveries) by loan and lease type:
Commercial:
Commercial and industrial	$	32		$	48		$	52		$	51		$	21



Commercial real estate	(3)			(8)			(2)			5			36
Lease financing	2			4			1			(2)			—
Total commercial	31			44			51			54			57
Consumer:
Residential mortgage	1			—			—			—			1
Automobile	7			13			12			8			6
Home equity	—			—			—			(1)			—
RV and marine	5			7			7			6			4
Other consumer	22			22			27			26			22
Total consumer	35			42			46			39			33
Total net charge-offs	$	66		$	86		$	97		$	93		$	90





Net charge-offs (recoveries) - annualized percentages:
Commercial:
Commercial and industrial	0.22		%	0.33		%	0.39		%	0.39		%	0.16		%



Commercial real estate	(0.14)			(0.26)			(0.08)			0.17			1.19
Lease financing	0.12			0.33			0.06			(0.18)			0.02
Total commercial	0.16			0.24			0.29			0.31			0.33
Consumer:
Residential mortgage	0.01			—			0.01			—			0.01
Automobile	0.19			0.35			0.32			0.24			0.20
Home equity	0.01			—			(0.02)			(0.02)			(0.01)
RV and marine	0.33			0.45			0.43			0.37			0.25
Other consumer	4.86			4.89			6.51			6.38			5.98
Total consumer	0.25			0.29			0.32			0.28			0.24
Net charge-offs as a % of average loans and leases	0.20		%	0.26		%	0.30		%	0.30		%	0.29		%

Huntington Bancshares Incorporated

Quarterly Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs) (1)

(Unaudited)


	June 30,			March 31,			December 31,			September 30,			June 30,
(dollar amounts in millions)	2025			2025			2024			2024			2024
Nonaccrual loans and leases (NALs):
Commercial and industrial	$	489		$	413		$	457		$	408		$	346
Commercial real estate	138			118			118			132			194
Lease financing	10			11			10			9			13
Residential mortgage	93			90			83			82			80
Automobile	5			4			6			5			4
Home equity	105			110			107			100			95
RV and marine	2			2			2			2			1

Total nonaccrual loans and leases	842			748			783			738			733



Other real estate, net	10			8			8			8			10
Other NPAs (1)	—			48			31			38			37
Total nonperforming assets	$	852		$	804		$	822		$	784		$	780

Nonaccrual loans and leases as a % of total loans and leases	0.62		%	0.56		%	0.60		%	0.58		%	0.59		%
NPA ratio (2)	0.63			0.61			0.63			0.62			0.63
(NPA+90days)/(Loan+OREO) (3)	0.81			0.77			0.82			0.80			0.77


	Three Months Ended
	June 30,		March 31,		December 31,		September 30,		June 30,
(dollar amounts in millions)	2025		2025		2024		2024		2024
Nonperforming assets, beginning of period	$	804	$	822	$	784	$	780	$	738
New nonperforming assets	343		250		271		254		316


Returns to accruing status	(27)		(31)		(46)		(55)		(55)
Charge-offs	(57)		(55)		(37)		(53)		(82)
Payments	(203)		(178)		(146)		(139)		(135)
Sales	(8)		(4)		(4)		(3)		(2)

Nonperforming assets, end of period	$	852	$	804	$	822	$	784	$	780

(1)Other nonperforming assets include certain impaired securities and/or nonaccrual loans held-for-sale.

(2)Nonperforming assets divided by the sum of loans and leases, net other real estate owned, and other NPAs.

(3)The sum of nonperforming assets and total accruing loans and leases past due 90 days or more divided by the sum of loans and leases and other real estate.

Huntington Bancshares Incorporated

Quarterly Accruing Past Due Loans and Leases

(Unaudited)


	June 30,			March 31,			December 31,			September 30,			June 30,
(dollar amounts in millions)	2025			2025			2024			2024			2024
Accruing loans and leases past due 90+ days:
Commercial and industrial	$	4		$	2		$	3		$	6		$	1

Lease financing	14			8			11			16			4
Residential mortgage (excluding loans guaranteed by the U.S. Government)	40			29			34			28			22
Automobile	10			8			12			10			8
Home equity	18			18			20			20			18
RV and marine	2			3			4			3			3
Other consumer	4			4			4			5			3
Total, excl. loans guaranteed by the U.S. Government	92			72			88			88			59
Add: loans guaranteed by U.S. Government	149			148			151			136			116
Total accruing loans and leases past due 90+ days, including loans guaranteed by the U.S. Government	$	241		$	220		$	239		$	224		$	175

Ratios:
Excluding loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.07		%	0.05		%	0.07		%	0.07		%	0.05		%
Guaranteed by U.S. Government, as a percent of total loans and leases	0.11			0.11			0.12			0.11			0.09
Including loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.18			0.17			0.18			0.18			0.14

Huntington Bancshares Incorporated

Quarterly Capital Under Current Regulatory Standards (Basel III)

(Unaudited)


	June 30,			March 31,			December 31,			September 30,			June 30,
(dollar amounts in millions)	2025			2025			2024			2024			2024
Common equity tier 1 risk-based capital ratio: (1)
Total Huntington shareholders’ equity	$	20,928		$	20,434		$	19,740		$	20,606		$	19,515
Regulatory capital adjustments:
CECL transitional amount (2)	—			—			109			109			109
Shareholders’ preferred equity and related surplus	(1,999)			(1,999)			(1,999)			(2,404)			(2,404)
Accumulated other comprehensive loss	2,241			2,422			2,866			2,104			2,911
Goodwill and other intangibles, net of taxes	(5,508)			(5,520)			(5,534)			(5,546)			(5,561)
Deferred tax assets from tax loss and credit carryforwards	(123)			(68)			(55)			(66)			(49)
Common equity tier 1 capital	15,539			15,269			15,127			14,803			14,521
Additional tier 1 capital
Shareholders’ preferred equity and related surplus	1,999			1,999			1,999			2,404			2,404


Tier 1 capital	17,538			17,268			17,126			17,207			16,925
Long-term debt and other tier 2 qualifying instruments	1,606			1,641			1,641			1,119			1,278
Qualifying allowance for loan and lease losses	1,859			1,811			1,798			1,784			1,743
Tier 2 capital	3,465			3,452			3,439			2,903			3,021
Total risk-based capital	$	21,003		$	20,720		$	20,565		$	20,110		$	19,946
Risk-weighted assets (RWA) (1)	$	148,602		$	144,632		$	143,650		$	142,543		$	139,374
Common equity tier 1 risk-based capital ratio (1)	10.5		%	10.6		%	10.5		%	10.4		%	10.4		%
Other regulatory capital data:
Tier 1 leverage ratio (1)	8.5			8.5			8.6			8.8			8.8
Tier 1 risk-based capital ratio (1)	11.8			11.9			11.9			12.1			12.1
Total risk-based capital ratio (1)	14.1			14.3			14.3			14.1			14.3




Reconciliation of Non-GAAP Measure (3)
Common equity tier 1 (CET1) capital (A)	$	15,539		$	15,269		$	15,127		$	14,803		$	14,521
Add: Accumulated other comprehensive income (loss) (AOCI)	(2,241)			(2,422)			(2,866)			(2,104)			(2,911)
Less: AOCI cash flow hedge	(7)			(90)			(267)			(39)			(399)
Adjusted common equity tier 1 (B)	13,305			12,937			12,528			12,738			12,009
Risk weighted assets (C)	148,602			144,632			143,650			142,543			139,374

CET1 ratio (A/C)	10.5		%	10.6		%	10.5		%	10.4		%	10.4		%
Adjusted CET1 ratio (B/C)	9.0			8.9			8.7			8.9			8.6

(1)June 30, 2025 figures are estimated.

(2)Huntington elected to temporarily delay certain effects of CECL on regulatory capital pursuant to a rule that allowed BHCs and banks to delay the impact of adopting CECL for two years, followed by a three-year transition period which began January 1, 2022. For periods beginning on or after January 1, 2025, the impact of the CECL deferral was fully phased in, while 75% of the impact of the CECL deferral was phased in at December 31, 2024, September 30, 2024, and June 30, 2024.

(3)Huntington believes certain non-GAAP financial measures to be helpful in understanding Huntington’s results of operations. The following provides the comparable regulatory financial measure, as well as the reconciliation to the comparable regulatory financial measure.

Huntington Bancshares Incorporated

Quarterly Common Stock Summary, Non-Regulatory Capital, and Other Data

(Unaudited)

Quarterly Common Stock Summary


	June 30,		March 31,		December 31,		September 30,		June 30,
	2025		2025		2024		2024		2024






Cash dividends declared per common share	$	0.155	$	0.155	$	0.155	$	0.155	$	0.155
Common shares outstanding (in millions):
Average - basic	1,457		1,454		1,453		1,453		1,451
Average - diluted	1,481		1,482		1,481		1,477		1,474
Ending	1,459		1,457		1,454		1,453		1,452
Tangible book value per common share	$	9.13	$	8.80	$	8.33	$	8.65	$	7.89

Non-Regulatory Capital


	June 30,			March 31,			December 31,			September 30,			June 30,
(dollar amounts in millions)	2025			2025			2024			2024			2024
Calculation of tangible equity / asset ratio:
Total Huntington shareholders’ equity	$	20,928		$	20,434		$	19,740		$	20,606		$	19,515
Goodwill and other intangible assets	(5,635)			(5,646)			(5,657)			(5,669)			(5,680)
Deferred tax liability on other intangible assets (1)	16			18			20			23			25
Total tangible equity	15,309			14,806			14,103			14,960			13,860
Preferred equity	(1,989)			(1,989)			(1,989)			(2,394)			(2,394)
Total tangible common equity	$	13,320		$	12,817		$	12,114		$	12,566		$	11,466
Total assets	$	207,742		$	209,596		$	204,230		$	200,535		$	196,310
Goodwill and other intangible assets	(5,635)			(5,646)			(5,657)			(5,669)			(5,680)
Deferred tax liability on other intangible assets (1)	16			18			20			23			25
Total tangible assets	$	202,123		$	203,968		$	198,593		$	194,889		$	190,655
Tangible equity / tangible asset ratio	7.6		%	7.3		%	7.1		%	7.7		%	7.3		%
Tangible common equity / tangible asset ratio	6.6			6.3			6.1			6.4			6.0
Tangible common equity / RWA ratio (2)	9.0			8.9			8.4			8.8			8.2

(1)Deferred tax liability related to other intangible assets is calculated at a 21% tax rate.

(2)Estimated at June 30, 2025.

Other Data


	June 30,	March 31,	December 31,	September 30,	June 30,
	2025	2025	2024	2024	2024
Number of employees (Average full-time equivalent)	20,242	20,092	20,045	20,043	19,889
Number of domestic full-service branches (1)	971	968	978	975	972
ATM Count	1,565	1,560	1,577	1,585	1,603

(1)Includes Regional Banking and The Huntington Private Bank offices.

Huntington Bancshares Incorporated

Quarterly Common Stock Summary, Non-Regulatory Capital, and Other Data (continued)

(Unaudited)

Non-GAAP Reconciliation: Return on Average Tangible Common Shareholders' Equity


	Three Months Ended
	June 30,			March 31,			December 31,			September 30,			June 30,
(dollar amounts in millions)	2025			2025			2024			2024			2024
Calculation of average tangible common shareholders' equity ratio:
Average Huntington common shareholders' equity	$	18,559		$	18,007		$	17,979		$	17,719		$	16,861
Less: Intangible assets and goodwill, net of tax effect	5,624			5,632			5,641			5,650			5,660
Average tangible common shareholders' equity (A)	$	12,935		$	12,375		$	12,338		$	12,069		$	11,201
Net income applicable to common shares	$	509		$	500		$	498		$	481		$	439
Add: Amortization of intangibles, net of deferred tax	9			9			9			9			9
Adjusted net income applicable to common shares	518			509			507			490			448
Add: Notable items, after tax	3			2			(2)			5			5
Less: Net gain (loss) on sale of securities, after tax	(46)			—			(17)			—			—
Adjusted net income applicable to common shares, excluding notable items and net securities gain (loss)	$	567		$	511		$	522		$	495		$	453
Adjusted net income applicable to common shares, annualized (B)	$	2,078		$	2,064		$	2,021		$	1,949		$	1,802
Adjusted net income applicable to common shares, excluding notable items and net securities gain (loss), annualized (C)	2,274			2,072			2,081			1,969			1,822
Return on average tangible common shareholders' equity (B/A)	16.1		%	16.7		%	16.4		%	16.2		%	16.1		%
Return on average tangible common shareholders' equity adjusted (C/A)	17.6		%	16.7		%	16.9		%	16.3		%	16.2		%

Huntington Bancshares Incorporated

Consolidated Year-To-Date Average Balance Sheets

(Unaudited)


	YTD Average Balances (1)
	Six Months Ended June 30,				Change
(dollar amounts in millions)	2025		2024		Amount		Percent
Assets


Interest-earning deposits with banks	$	11,950	$	10,439	$	1,511	14	%
Securities:
Trading account securities	561		138		423		307
Available-for-sale securities:
Taxable	24,130		23,349		781		3
Tax-exempt	3,252		2,680		572		21
Total available-for-sale securities	27,382		26,029		1,353		5


Held-to-maturity securities - taxable	16,243		15,389		854		6





Other securities	879		750		129		17
Total securities	45,065		42,306		2,759		7
Loans held for sale	665		515		150		29
Loans and leases: (2)
Commercial:
Commercial and industrial	58,478		51,175		7,303		14
Commercial real estate:
Commercial	10,080		11,306		(1,226)		(11)
Construction	822		1,057		(235)		(22)
Commercial real estate	10,902		12,363		(1,461)		(12)
Lease financing	5,467		5,076		391		8
Total commercial	74,847		68,614		6,233		9
Consumer:
Residential mortgage	24,362		23,809		553		2
Automobile	14,900		12,771		2,129		17
Home equity	10,160		10,064		96		1
RV and marine	5,936		5,929		7		—
Other consumer	1,818		1,466		352		24
Total consumer	57,176		54,039		3,137		6
Total loans and leases	132,023		122,653		9,370		8
Total earning assets	189,703		175,913		13,790		8
Cash and due from banks	1,406		1,416		(10)		(1)
Goodwill and other intangible assets	5,646		5,691		(45)		(1)


All other assets	9,722		9,412		310		3
Total assets	$	206,477	$	192,432	$	14,045	7	%
Liabilities and shareholders' equity
Interest-bearing deposits:
Demand deposits - interest-bearing	$	44,132	$	38,960	$	5,172	13	%
Money market deposits	60,654		52,431		8,223		16
Savings deposits	14,998		15,517		(519)		(3)
Time deposits	13,639		15,475		(1,836)		(12)
Total interest-bearing deposits	133,423		122,383		11,040		9
Short-term borrowings	1,350		1,257		93		7
Long-term debt	17,341		14,461		2,880		20
Total interest-bearing liabilities	152,114		138,101		14,013		10
Demand deposits - noninterest-bearing	29,096		29,770		(674)		(2)
All other liabilities	4,944		5,277		(333)		(6)
Total Liabilities	186,154		173,148		13,006		8
Total Huntington shareholders’ equity	20,274		19,234		1,040		5
Non-controlling interest	49		50		(1)		(2)
Total equity	$	20,323	$	19,284	$	1,039	5
Total liabilities and equity	$	206,477	$	192,432	$	14,045	7	%

(1)Amounts include the effects of hedge and risk management activities associated with the respective asset and liability categories.

(2)Includes nonaccrual loans and leases.

Huntington Bancshares Incorporated

Consolidated Year-To-Date Net Interest Margin - Interest Income / Expense (1) (2)

(Unaudited)


	YTD Interest Income / Expense
	Six Months Ended June 30,
(dollar amounts in millions)	2025		2024
Assets


Interest-earning deposits with banks	$	268	$	288
Securities:
Trading account securities	10		4
Available-for-sale securities:
Taxable	565		618
Tax-exempt	83		68
Total available-for-sale securities	648		686
Held-to-maturity securities - taxable	215		188



Other securities	24		19
Total securities	897		897
Loans held for sale	21		17
Loans and leases:
Commercial:
Commercial and industrial	1,787		1,630
Commercial real estate:
Commercial	336		429
Construction	32		44
Commercial real estate	368		473
Lease financing	181		161
Total commercial	2,336		2,264
Consumer:
Residential mortgage	503		459
Automobile	426		330
Home equity	369		391
RV and marine	157		150
Other consumer	99		86
Total consumer	1,554		1,416
Total loans and leases	3,890		3,680
Total earning assets	$	5,076	$	4,882
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	$	428	$	410
Money market deposits	922		994
Savings deposits	18		5
Time deposits	264		355
Total interest-bearing deposits	1,632		1,764
Short-term borrowings	27		38
Long-term debt	493		455
Total interest-bearing liabilities	2,152		2,257

Net interest income	$	2,924	$	2,625

(1)Fully-taxable equivalent (FTE) income and expense calculated assuming a 21% tax rate. See page 21 for the FTE adjustment.

(2)Amounts include the effects of hedge and risk management activities associated with the respective asset and liability categories.

Huntington Bancshares Incorporated

Consolidated Year-To-Date Net Interest Margin - Yields / Rates

(Unaudited)


	YTD Average Yields / Rates
	Six Months Ended June 30,
Fully-taxable equivalent basis (1)	2025		2024
Assets


Interest-earning deposits with banks	4.49	%	5.53	%
Securities:
Trading account securities	3.70		5.12
Available-for-sale securities:
Taxable	4.68		5.29
Tax-exempt	5.08		5.06
Total available-for-sale securities	4.73		5.27
Held-to-maturity securities - taxable	2.65		2.44



Other securities	5.57		5.22
Total securities	3.98		4.24
Loans held for sale	6.45		6.68
Loans and leases: (2)
Commercial:
Commercial and industrial	6.08		6.29
Commercial real estate:
Commercial	6.62		7.51
Construction	7.82		8.31
Commercial real estate	6.71		7.58
Lease financing	6.57		6.27
Total commercial	6.21		6.52
Consumer:
Residential mortgage	4.13		3.86
Automobile	5.77		5.20
Home equity	7.33		7.81
RV and marine	5.32		5.08
Other consumer	10.94		11.83
Total consumer	5.47		5.26
Total loans and leases	5.89		5.97
Total earning assets	5.40	%	5.58	%
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	1.96	%	2.11	%
Money market deposits	3.06		3.81
Savings deposits	0.24		0.06
Time deposits	3.90		4.62
Total interest-bearing deposits	2.47		2.90
Short-term borrowings	4.10		6.12
Long-term debt	5.68		6.29
Total interest-bearing liabilities	2.85		3.29

Net interest rate spread	2.55		2.29
Impact of noninterest-bearing funds on margin	0.56		0.71
Net interest margin	3.11	%	3.00	%


Additional information:
Commercial Loan Derivative Impact
Commercial loans (2) (3)	6.53	%	7.25	%
Impact of commercial loan derivatives	(0.32)		(0.73)
Total commercial - as reported	6.21	%	6.52	%
Average SOFR	4.33	%	5.32	%

Total cost of deposits (4)	2.02	%	2.33	%

(1)Fully-taxable equivalent (FTE) yields are calculated assuming a 21% tax rate. See page 21 for the FTE adjustment.

(2)Includes nonaccrual loans and leases.

(3)Yield/rates exclude the effects of hedge and risk management activities associated with the respective asset and liability categories.

(4)Includes noninterest-bearing and interest-bearing deposit balances.

Huntington Bancshares Incorporated

Selected Year-To-Date Income Statement Data

(Unaudited)


	Six Months Ended June 30,				Change
(dollar amounts in millions, except per share data)	2025		2024		Amount		Percent
Interest income	$	5,045	$	4,856	$	189	4	%
Interest expense	2,152		2,257		(105)		(5)
Net interest income	2,893		2,599		294		11
Provision for credit losses	218		207		11		5
Net interest income after provision for credit losses	2,675		2,392		283		12
Payments and cash management revenue	320		300		20		7
Wealth and asset management revenue	203		178		25		14
Customer deposit and loan fees	181		160		21		13
Capital markets and advisory fees	151		129		22		17
Mortgage banking income	59		61		(2)		(3)
Leasing revenue	24		41		(17)		(41)
Insurance income	39		37		2		5


Net gains (losses) on sales of securities	(58)		—		(58)		(100)
Other noninterest income	46		52		(6)		(12)
Total noninterest income	965		958		7		1
Personnel costs	1,393		1,302		91		7
Outside data processing and other services	352		331		21		6
Equipment	135		132		3		2
Net occupancy	119		108		11		10
Marketing	57		55		2		4
Deposit and other insurance expense	57		79		(22)		(28)
Professional services	44		51		(7)		(14)
Amortization of intangibles	22		24		(2)		(8)
Lease financing equipment depreciation	6		8		(2)		(25)
Other noninterest expense	164		164		—		—
Total noninterest expense	2,349		2,254		95		4
Income before income taxes	1,291		1,096		195		18
Provision for income taxes	218		192		26		14
Income after income taxes	1,073		904		169		19
Income attributable to non-controlling interest	10		11		(1)		(9)
Net income attributable to Huntington	1,063		893		170		19
Dividends on preferred shares	54		71		(17)		(24)

Net income applicable to common shares	$	1,009	$	822	$	187	23	%
Average common shares - basic	1,456		1,450		6		—
Average common shares - diluted	1,482		1,474		8		1
Per common share
Net income - basic	$	0.69	$	0.57	$	0.12	21	%
Net income - diluted	0.68		0.56		0.12		21
Cash dividends declared	0.31		0.31		—		—
Revenue - fully taxable equivalent (FTE)
Net interest income	$	2,893	$	2,599	$	294	11	%
FTE adjustment	31		26		5		19
Net interest income (1)	2,924		2,625		299		11
Noninterest income	965		958		7		1
Total revenue (1)	$	3,889	$	3,583	$	306	9	%

(1)On a fully-taxable equivalent (FTE) basis assuming a 21% tax rate.

Huntington Bancshares Incorporated

Year-To-Date Mortgage Banking Noninterest Income

(Unaudited)


	Six Months Ended June 30,						Change
(dollar amounts in millions)	2025			2024			Amount			Percent
Net origination and secondary marketing income	$	44		$	33		$	11		33	%
Net mortgage servicing income
Loan servicing income	52			50			2			4
Amortization of capitalized servicing	(31)			(25)			(6)			(24)
Operating income	21			25			(4)			(16)
MSR valuation adjustment (1)	(15)			31			(46)			(148)
(Losses) gains due to MSR hedging	9			(29)			38			131
Net MSR risk management	(6)			2			(8)			—
Total net mortgage servicing income	15			27			(12)			(44)
All other	—			1			(1)			(100)
Mortgage banking income	$	59		$	61		$	(2)		(3)	%

Mortgage origination volume	$	4,011		$	3,440		$	571		17	%
Mortgage origination volume for sale	2,446			2,025			421			21

Third party mortgage loans serviced (2)	33,925			33,404			521			2
Mortgage servicing rights (2)	567			543			24			4
MSR % of investor servicing portfolio (2)	1.67		%	1.63		%	0.04		%	2	%

(1)The change in fair value for the period represents the MSR valuation adjustment, net of amortization of capitalized servicing.

(2)At period end.

Huntington Bancshares Incorporated

Year-To-Date Credit Reserves Analysis

(Unaudited)


	Six Months Ended June 30,
(dollar amounts in millions)	2025			2024
Allowance for loan and lease losses, beginning of period	$	2,244		$	2,255
Loan and lease charge-offs	(244)			(273)
Recoveries of loans and leases previously charged off	92			91
Net loan and lease charge-offs	(152)			(182)
Provision for loan and lease losses	239			231
Allowance for loan and lease losses, end of period	2,331			2,304
Allowance for unfunded lending commitments, beginning of period	$	202		$	145

Provision for unfunded lending commitments	(18)			(26)


Allowance for unfunded lending commitments, end of period	184			119
Total allowance for credit losses, end of period	$	2,515		$	2,423
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases	1.73		%	1.85		%
Nonaccrual loans and leases (NALs)	277			314
Nonperforming assets (NPAs)	274			296
Total allowance for credit losses (ACL) as % of:
Total loans and leases	1.86		%	1.95		%
Nonaccrual loans and leases (NALs)	299			331
Nonperforming assets (NPAs)	295			311

Huntington Bancshares Incorporated

Year-To-Date Net Charge-Off Analysis

(Unaudited)


	Six Months Ended June 30,
(dollar amounts in millions)	2025			2024
Net charge-offs (recoveries) by loan and lease type:
Commercial:
Commercial and industrial	$	80		$	63



Commercial real estate	(11)			49
Lease financing	6			—
Total commercial	75			112
Consumer:
Residential mortgage	1			1
Automobile	20			15
Home equity	—			—
RV and marine	12			9
Other consumer	44			45
Total consumer	77			70
Total net charge-offs	$	152		$	182




Net charge-offs (recoveries) - annualized percentages:
Commercial:
Commercial and industrial	0.28		%	0.24		%



Commercial real estate	(0.20)			0.79
Lease financing	0.22			0.01
Total commercial	0.20			0.33
Consumer:
Residential mortgage	0.01			0.01
Automobile	0.27			0.24
Home equity	0.01			—
RV and marine	0.39			0.31
Other consumer	4.87			6.18
Total consumer	0.27			0.26
Net charge-offs as a % of average loans	0.23		%	0.30		%

Huntington Bancshares Incorporated

Year-To-Date Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)

(Unaudited)


	At June 30,
(dollar amounts in millions)	2025			2024
Nonaccrual loans and leases (NALs):
Commercial and industrial	$	489		$	346
Commercial real estate	138			194
Lease financing	10			13
Residential mortgage	93			80
Automobile	5			4
Home equity	105			95
RV and marine	2			1

Total nonaccrual loans and leases	842			733



Other real estate, net	10			10
Other NPAs (1)	—			37
Total nonperforming assets	$	852		$	780

Nonaccrual loans and leases as a % of total loans and leases	0.62		%	0.59		%
NPA ratio (2)	0.63			0.63
(NPA+90days)/(Loan+OREO) (3)	0.81			0.77


	Six Months Ended June 30,
(dollar amounts in millions)	2025		2024
Nonperforming assets, beginning of period	$	822	$	711
New nonperforming assets	593		579


Returns to accruing status	(58)		(123)
Charge-offs	(112)		(146)
Payments	(381)		(237)
Sales	(12)		(4)
Nonperforming assets, end of period	$	852	$	780

(1)Other nonperforming assets include certain impaired securities and/or nonaccrual loans held-for-sale.

(2)Nonperforming assets divided by the sum of loans and leases, net other real estate owned, and other NPAs.

(3)The sum of nonperforming assets and total accruing loans and leases past due 90 days or more divided by the sum of loans and leases and other real estate.