hban-20210729

Exhibit 99.1

July 29, 2021

Analysts: Tim Sedabres ([email protected]), 612.286.3814

Media: Randi Berris ([email protected]), 614.331.4643

HUNTINGTON BANCSHARES INCORPORATED REPORTS 2021 SECOND-QUARTER EARNINGS

TCF Acquisition Highlights Quarter; Announces $800 Million Share Repurchase Authorization

2021 Second-Quarter Highlights:

•Earnings (loss) per common share (EPS) for the quarter were ($0.05), a decrease of $0.18 year-over-year. Excluding approximately $0.40 per common share after tax of TCF acquisition-related Notable Items, adjusted earnings per common share were $0.35.

•On June 9, Huntington completed the acquisition of TCF Financial Corporation (TCF), adding approximately $50 billion of total assets, $34 billion of total loans and leases, and $39 billion of total deposits.

•On track to deliver expected economics from TCF transaction with integration proceeding as planned; consolidated 44 Meijer in-store branches in mid-June; majority of branch and systems conversions expected to occur in October.

•Executed balance sheet optimization strategy following completion of TCF acquisition; remixing securities for yield and duration in line with our aggregate moderate-to-low risk appetite.

•Fully exited interest rate cap position as of June 30 while continuing to maintain equivalent capital protection through a mix of swaps and securities designation.

•The Board of Directors approved an $800 million share repurchase authorization for the next four quarters.

•Ranked by J.D. Power as the highest in customer satisfaction among regional banks for our mobile app for the third consecutive year and highest in customer satisfaction with consumer banking in the North Central Region for the sixth time in nine years.

COLUMBUS, Ohio – Huntington Bancshares Incorporated (Nasdaq: HBAN) reported a net loss for the 2021 second quarter of $15 million, a decrease of $165 million from the year-ago quarter, impacted by TCF acquisition-related expenses. Earnings (loss) per common share for the 2021 second quarter were ($0.05), down $0.18 from the year-ago quarter. Excluding approximately $0.40 per common share after tax of Notable Items, adjusted earnings per common share were $0.35. Specifically, second-quarter results were negatively impacted by $269 million pretax of TCF acquisition-related expenses and $294 million pretax of CECL initial provision ("double count"1) expense related to the acquisition.

Tangible book value per common share ended the 2021 second quarter at $8.23, a 1% year-over-year decrease. Return on average assets was (0.05%), return on average common equity was (1.9%), and return on average tangible common equity was (2.1%).

1 "Double count" refers to the additional gross up to the ACL via provision expense for the non-PCD loans and acquired unfunded lending commitments

CEO Commentary:

“We delivered solid fundamental performance for the quarter,” said Steve Steinour, chairman, president, and CEO. “We are seeing encouraging signs of the economic recovery, and customer activity is starting to normalize. Lending pipelines have continued to grow across the board, reflecting our view of increased loan demand later this year.

“We are excited about the acquisition of TCF, which has strengthened the run-rate return profile of the company. Integration execution is proceeding on schedule. We have completed several systems conversions, and we closed 44 Meijer branch locations in June. In addition, we remain confident that we will complete the majority of systems conversions and remaining branch consolidations during the first part of the fourth quarter of 2021. This will move us swiftly toward realizing our annualized cost savings target and set up earnings for 2022 and beyond.

“We are executing strategies to drive sustained revenue growth across the bank, and the TCF acquisition is one component of these efforts. The second quarter introduction of Standby CashSM, our most successful product launch ever, is an example of how we are innovating to further differentiate our products and services. We also are building out our business banking, middle market, corporate, and wealth management teams, augmented by increased investments in our brand, to accelerate growth across our expanded customer base and geographies.

“Finally, Huntington is proud to be ranked by J.D. Power as the highest in customer satisfaction among regional banks for our mobile app for the third consecutive year,” Steinour said. “Huntington also claimed the highest ranking in customer satisfaction with consumer banking in the North Central Region for the sixth time in nine years. Our progress on becoming the leading people-first, digitally powered bank in the country is being demonstrated through these accolades and through our increased customer utilization.”

Table 1 – Earnings Performance Summary


	2021						2020
(in millions, except per share data)	Second			First			Fourth			Third			Second
	Quarter			Quarter			Quarter			Quarter			Quarter
Net (loss) income attributable to Huntington Bancshares Inc	$	(15)		$	532		$	316		$	303		$	150
Diluted (loss) earnings per common share	(0.05)			0.48			0.27			0.27			0.13

Return on average assets	(0.05)		%	1.76		%	1.04		%	1.01		%	0.51		%
Return on average common equity	(1.9)			18.7			10.4			10.2			5.0
Return on average tangible common equity	(2.1)			23.7			13.3			13.2			6.7
Net interest margin	2.66			3.48			2.94			2.96			2.94
Efficiency ratio	83.1			57.0			60.2			56.1			55.9

Tangible book value per common share	$	8.23		$	8.64		$	8.51		$	8.43		$	8.32
Cash dividends declared per common share	0.15			0.15			0.15			0.15			0.15

Average earning assets	$	127,421		$	114,105		$	112,222		$	110,665		$	109,038
Average loans and leases	87,437			80,261			81,116			80,542			80,199
Average core deposits	109,433			95,815			92,325			90,692			88,878

Tangible common equity / tangible assets ratio	7.16		%	7.11		%	7.16		%	7.27		%	7.28		%
Common equity Tier 1 risk-based capital ratio	9.97			10.32			10.00			9.89			9.84

NCOs as a % of average loans and leases	0.28		%	0.32		%	0.55		%	0.56		%	0.54		%
NAL ratio	0.87			0.64			0.65			0.70			0.81
ACL as a % of total loans and leases	2.08			2.17			2.29			2.31			2.27

Table 2 lists certain items that we believe are important to understanding corporate performance and trends (see Basis of Presentation). There were two Notable Items in the 2021 second quarter: $269 million of TCF acquisition-related pretax expense and $294 million of TCF acquisition CECL initial provision ("double count") expense.

Table 2 – Notable Items Influencing Earnings


Three Months Ended		Pre-Tax Impact		After-Tax Impact
($ in millions, except per share)		Amount		Amount (1)		EPS (2)
June 30, 2021 – net income				$	(15)	$	(0.05)
•	TCF acquisition-related expenses	$	(269)	$	(218)	$	(0.19)
•	TCF acquisition CECL initial provision expense ("double count") (3)	$	(294)	$	(239)	$	(0.21)

March 31, 2021 – net income				$	532	$	0.48
•	TCF acquisition-related net expenses	$	(21)	$	(17)	$	(0.02)

(1)Favorable (unfavorable) impact on net income.

(2)EPS reflected on a fully diluted basis.

(3)Includes $234 million from non-Purchase Credit Deteriorated (non-PCD) loans and leases and $60 million from acquired unfunded lending commitments

TCF Financial Acquisition

On June 9, 2021, Huntington completed the acquisition of TCF. The acquisition added approximately $50 billion of total assets, $34 billion of total loans and leases, $39 billion of total deposits, and 467 branches. 2021 second quarter results reflect inclusion of TCF since June 9, 2021.

Table 3 - Opening Balances of TCF Loans and Leases and Deposits Upon Acquisition Closing


($ in billions)
As of June 9, 2021 (1)
Assets			Liabilities
Commercial and industrial	$	12.7	Demand deposits - noninterest-bearing	$	12.3
Commercial real estate	8.0		Demand deposits - interest-bearing	7.0
Lease financing	2.9		Total demand deposits	19.3
Total commercial	23.6		Money market deposits	7.6
Automobile	0.3		Savings and other domestic deposits	7.4
Residential mortgage	6.3		Core certificates of deposit	2.1
Home equity	2.6		Total core deposits	36.4
RV and marine finance	0.6		Other domestic deposits of $250,000 or more	1.0
Other consumer	0.2		Negotiable CDS, brokered and other deposits	1.3
Total consumer	10.0		Deposits in foreign offices	—
Total loans and leases	$	33.6	Total deposits	$	38.7

(1) Assets acquired and liabilities assumed were recorded at estimated fair value on the acquisition date.

Huntington's management and organizational structure has been updated to reflect the combined organization. Onboarding of former TCF colleagues is complete, and their initial training has commenced. Certain Huntington products and services are being introduced across the legacy TCF customer base, and customer-facing colleagues are focused on both retaining and growing customers. Systems conversions have commenced and are scheduled to be substantially complete early in the 2021 fourth quarter. The branch conversion and remaining 145 branch consolidations are scheduled to be completed by October 2021.

As part of the TCF transaction, Huntington entered into an agreement to sell 14 banking centers in Michigan, including approximately $1.0 billion of total deposits and $0.3 billion of total loans, to Horizon Bank, the wholly-owned banking subsidiary of Horizon Bancorp, Inc. This transaction is expected to close during the 2021 third quarter.

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

Table 4 – Net Interest Income and Net Interest Margin Performance Summary – Year-over-Year Increase in Average Earning Assets Drives Net Interest Income Growth


	2021				2020
($ in millions)	Second		First		Fourth		Third		Second		Change (%)
	Quarter		Quarter		Quarter		Quarter		Quarter		LQ		YOY
Net interest income	$	838	$	972	$	825	$	817	$	792	(14)	%	6	%
FTE adjustment	6		6		5		5		5		—		20
Net interest income - FTE	844		978		830		822		797		(14)		6
Noninterest income	444		395		409		430		391		12		14
Total revenue - FTE	$	1,288	$	1,373	$	1,239	$	1,252	$	1,188	(6)	%	8	%


	2021				2020
	Second		First		Fourth		Third		Second		Change (bp)
Yield / Cost	Quarter		Quarter		Quarter		Quarter		Quarter		LQ	YOY
Total earning assets	2.96	%	3.11	%	3.13	%	3.22	%	3.35	%	(15)	(39)
Total loans and leases	3.68		3.78		3.70		3.75		3.75		(10)	(7)
Total securities	1.59		1.67		1.87		2.13		2.35		(8)	(76)
Total interest-bearing liabilities	0.45		(0.53)		0.27		0.39		0.57		98	(12)
Total interest-bearing deposits	0.06		0.06		0.08		0.18		0.28		—	(22)

Net interest rate spread	2.51		3.64		2.86		2.83		2.78		(113)	(27)
Impact of noninterest-bearing funds on margin	0.15		(0.16)		0.08		0.13		0.16		31	(1)
Net interest margin	2.66	%	3.48	%	2.94	%	2.96	%	2.94	%	(82)	(28)

See Pages 6-8 of Quarterly Financial Supplement for additional detail.

Fully-taxable equivalent (FTE) net interest income for the 2021 second quarter increased $47 million, or 6%, from the 2020 second quarter. This increase reflected the benefit of an $18.4 billion, or 17%, increase in average earning assets, partially offset by a 28 basis point decrease in the FTE net interest margin (NIM) to 2.66%. Net interest income in the 2021 second quarter included a ($55) million mark-to-market of interest rate caps, which unfavorably impacted the NIM by approximately 17 basis points (and increased reported long-term debt costs by approximately 318 basis points), and $30 million of deferred PPP loan fees recognized upon receipt of forgiveness payments from the US Small Business Administration (SBA), which favorably impacted the NIM by approximately 9 basis points. The impact of purchase accounting accretion favorably impacted the NIM by approximately 3 basis points. The year-over-year decreases in average earning asset yields and average liability costs reflected the impact of lower interest rates and changes in balance sheet mix, including elevated deposits at the Federal Reserve Bank.

Compared to the 2021 first quarter, FTE net interest income decreased $134 million, or 14%, reflecting 82 basis points of NIM compression, partially offset by a $13.3 billion, or 12%, increase in average earning assets. Both the net interest income decrease and the NIM compression primarily reflected the net impacts of the mark-to-market of interest rate caps, partially offset by the deferred PPP loan fees recognized upon receipt of forgiveness payments from the SBA. The impact of purchase accounting accretion favorably impacted the NIM by approximately 3 basis points. The mark-to-market of interest rate caps was ($55) million in the 2021 second quarter compared to $144 million in the 2021 first quarter. The deferred PPP loan fees were $30 million in the 2021 second quarter compared to $45 million in the 2021 first quarter.

Table 5 – Average Earning Assets – TCF Acquisition, Elevated Deposits at the Federal Reserve Bank, and PPP Loans Drive Year-Over-Year Earning Asset Growth


	2021				2020
($ in billions)	Second		First		Fourth		Third		Second		Change (%)
	Quarter		Quarter		Quarter		Quarter		Quarter		LQ		YOY
Commercial and industrial	$	34.1	$	32.2	$	32.5	$	32.5	$	33.0	6	%	3	%
Commercial real estate	9.1		7.2		7.2		7.2		7.1		27		28
Lease financing	2.8		2.2		2.3		2.2		2.3		27		21
Total commercial	46.0		41.5		42.0		41.9		42.4		11		9
Automobile	12.8		12.7		12.9		12.9		12.7		1		1
Residential mortgage	13.8		12.1		12.1		11.8		11.5		14		20
Home equity	9.4		8.8		8.9		8.9		8.9		6		5
RV and marine	4.4		4.2		4.2		4.0		3.7		6		20
Other consumer	1.0		1.0		1.0		1.0		1.1		8		(3)
Total consumer	41.4		38.7		39.1		38.7		37.8		7		10
Total loans and leases	87.4		80.3		81.1		80.5		80.2		9		9
Total securities	30.7		26.2		24.1		22.8		24.2		17		27
Held-for-sale and other earning assets	9.2		7.6		7.0		7.3		4.6		21		100
Total earning assets	$	127.4	$	114.1	$	112.2	$	110.7	$	109.0	12	%	17	%

See Page 6 of Quarterly Financial Supplement for additional detail.

Note: 2021 second quarter results reflect inclusion of TCF since June 9, 2021.

Average earning assets for the 2021 second quarter increased $18.4 billion, or 17%, from the year-ago quarter, primarily reflecting a $7.2 billion, or 9%, increase in average total loans and leases, a $6.5 billion, or 27%, increase in average securities, and a $4.2 billion, or 124%, increase in interest-bearing deposits at the Federal Reserve Bank. Average loan balances across categories reflect the late-quarter TCF acquisition. The acquisition was the primary driver of increases in average commercial real estate (CRE) loans and average home equity loans, which increased $2 billion, or 28%, and $0.5 billion, or 5%, respectively. In addition to increases related to the acquisition, average residential mortgage loans increased $2.3 billion, or 20%, due to continued robust portfolio mortgage production. Average commercial & industrial (C&I) loans increased $1.2 billion, or 3%, primarily reflecting the $0.9 billion increase in average PPP loans. Average RV and marine loans increased $0.7 billion, or 20%, reflecting strong consumer demand and continued strong production levels.

Compared to the 2021 first quarter, average earning assets increased $13.3 billion, or 12%, primarily reflecting a $7.2 billion, or 9%, increase in average loans and leases and a $4.5 billion, or 17%, increase in average securities. The increases in average loans and leases and securities are partially a result of the TCF acquisition. Average C&I loans increased $2.0 billion, or 6%, primarily reflecting the TCF acquisition partially offset by a $0.8 billion decrease in average PPP loans.

Huntington received forgiveness payments from the SBA for approximately $3.1 billion of PPP loans during the 2021 second quarter compared to $2.3 billion of PPP loans during the 2021 first quarter.

Table 6 – Average Liabilities –TCF Acquisition, Demand Deposits Drive Robust Year-over-Year Growth in Core Deposits


	2021				2020
	Second		First		Fourth		Third		Second		Change (%)
($ in billions)	Quarter		Quarter		Quarter		Quarter		Quarter		LQ		YOY
Demand deposits - noninterest-bearing	$	34.6	$	29.1	$	28.1	$	27.4	$	25.7	19	%	35	%
Demand deposits - interest-bearing	29.7		26.8		25.1		23.9		23.9		11		25
Total demand deposits	64.3		55.9		53.2		51.3		49.6		15		30
Money market deposits	28.1		26.2		26.1		26.2		25.7		7		9
Savings and other domestic deposits	15.2		12.3		11.5		11.2		10.6		24		43
Core certificates of deposit	1.8		1.4		1.5		2.0		3.0		32		(39)
Total core deposits	109.4		95.8		92.3		90.7		88.9		14		23
Other domestic deposits of $250,000 or more	0.3		0.1		0.1		0.2		0.2		125		13
Negotiable CDS, brokered and other deposits	3.0		3.4		4.1		4.2		4.1		(11)		(27)

Total deposits	$	112.7	$	99.3	$	96.5	$	95.1	$	93.2	13	%	21	%

Short-term borrowings	$	0.2	$	0.2	$	0.2	$	0.2	$	0.8	16	%	(71)	%
Long-term debt	6.9		7.8		8.8		9.3		9.8		(11)		(30)
Total debt	$	7.1	$	8.0	$	9.0	$	9.5	$	10.6	(11)	%	(33)	%

Total interest-bearing liabilities	$	85.2	$	78.2	$	77.5	$	77.1	$	78.2	9	%	9	%

See Page 6 of Quarterly Financial Supplement for additional detail.

Average total interest-bearing liabilities for the 2021 second quarter increased $7.1 billion, or 9%, from the year-ago quarter. Average total deposits increased $19.5 billion, or 21%, while average total core deposits increased $20.6 billion, or 23%. These increases were primarily driven by elevated balances in both consumer and commercial core deposits largely related to government stimulus, improved retention, and the impact of the late-quarter TCF acquisition. Average deposit balances across categories reflect the late-quarter TCF acquisition. In addition to the acquisition, average total demand deposits increased $14.7 billion, or 30%, average savings and other domestic deposits increased $4.6 billion, or 43%, and average money market deposits increased $2.4 billion, or 9%, due to elevated balances in both consumer and commercial core deposits. Partially offsetting these increases, average core certificates of deposit (CDs) decreased $1.2 billion, or 39%, reflecting the maturity of balances related to the 2018 consumer deposit growth initiatives. Average total debt decreased $3.5 billion, or 33%, primarily reflecting the maturity of $2.7 billion of long-term debt over the past five quarters, the repayment of short-term borrowings, and the purchase of $0.5 billion of long-term debt under the tender offer completed in November 2020, all due to the strong core deposit growth.

Compared to the 2021 first quarter, average total interest-bearing liabilities increased $7.1 billion, or 9%. Average total deposits increased $13.4 billion, or 13%, and average total core deposits increased $13.6 billion, or 14%. These increases were primarily driven by the impact of the late-quarter TCF acquisition, elevated balances in both consumer and commercial core deposits largely related to government stimulus, and improved retention. Specifically, within core deposits, average total demand deposits increased $8.4 billion, or 15%. Average total debt decreased $0.8 billion, or 11%, primarily reflecting the maturity of $1.9 billion of long-term debt during the last two quarters.

Noninterest Income

Table 7 – Noninterest Income – Organic Growth, TCF Acquisition Drive Year-over-year Growth in Noninterest Income


	2021				2020
	Second		First		Fourth		Third		Second		Change (%)
($ in millions)	Quarter		Quarter		Quarter		Quarter		Quarter		LQ		YOY
Mortgage banking income	$	67	$	100	$	90	$	122	$	96	(33)	%	(30)	%
Service charges on deposit accounts	88		69		78		76		60		28		47
Card and payment processing income	80		65		65		66		59		23		36
Trust and investment management services	56		52		49		48		45		8		24
Leasing revenue	12		4		6		3		7		200		71
Capital markets fees	35		29		34		27		31		21		13
Insurance income	25		27		25		24		25		(7)		0
Bank owned life insurance income	16		16		14		17		17		0		(6)
Gain on sale of loans	3		3		13		13		8		0		(63)
Net gains (losses) on sales of securities	10		—		—		—		(1)		NM		NM
Other noninterest income	52		30		35		34		44		73		18
Total noninterest income	$	444	$	395	$	409	$	430	$	391	12	%	14	%

See Page 10 of Quarterly Financial Supplement for additional detail.

Reported total noninterest income for the 2021 second quarter increased $53 million, or 14%, from the year-ago quarter. Service charges on deposit accounts increased $28 million, or 47%, primarily reflecting normalization of customer activity versus fee waivers due to COVID-19 in the year-ago quarter. Card and payment processing income increased $21 million, or 36%, primarily reflecting higher debit card usage. Trust and investment management services increased $11 million, or 24%, reflecting continued strong net asset flows and positive equity market performance over the prior twelve months. Gains on sale of securities increased $11 million, reflecting securities portfolio optimization. Partially offsetting these increases, mortgage banking income decreased $29 million, or 30%, primarily reflecting lower secondary marketing spreads and a decrease in salable mortgage originations, in addition to lower net mortgage servicing income. In addition to the above, changes to noninterest income across categories also reflect the late-quarter TCF acquisition.

Compared to the 2021 first quarter, reported total noninterest income increased $49 million, or 12%. Other noninterest income increased $22 million, or 73%, primarily reflecting the unfavorable Visa Class B derivative fair value adjustment in the prior quarter, increased amortization of upfront card-related contract renewal fees, and increased mezzanine investment income. Service charges on deposit accounts increased $19 million, or 28%, primarily reflecting the normalization of customer activity. Card and payment processing income increased $15 million, or 23%, primarily reflecting higher debit card usage. Gains on sale of securities increased $10 million, reflecting securities portfolio optimization. Partially offsetting these increases, mortgage banking income decreased $33 million, or 33%, primarily reflecting a decrease in salable mortgage originations, lower secondary marketing spreads, and a $7 million decrease in net MSR risk management activities. In addition to the above, changes to noninterest income across categories also reflect the late-quarter TCF acquisition.

Noninterest Expense

Table 8 – Noninterest Expense – Onetime Costs Related to the TCF Acquisition Drive Noninterest Expense


	2021				2020
	Second		First		Fourth		Third		Second		Change (%)
($ in millions)	Quarter		Quarter		Quarter		Quarter		Quarter		LQ		YOY
Personnel costs	$	592	$	468	$	426	$	453	$	418	26	%	42	%
Outside data processing and other services	162		115		111		98		90		41		80
Equipment	55		46		49		44		46		20		20
Net occupancy	72		42		39		40		39		71		85
Lease financing equipment depreciation	5		—		—		—		1		100		400
Professional services	48		17		21		12		11		182		336
Amortization of intangibles	11		10		10		10		10		10		10
Marketing	15		14		15		9		5		7		200
Deposit and other insurance expense	8		8		8		6		9		0		(11)
Other noninterest expense	104		73		77		40		46		42		126
Total noninterest expense	$	1,072	$	793	$	756	$	712	$	675	35	%	59	%
(in thousands)
Average full-time equivalent employees	17.0		15.4		15.5		15.7		15.7		10	%	8	%

See Page 10 of Quarterly Financial Supplement for additional detail.

Table 9 - Impact of Notable Items


	2021				2020
	Second		First		Fourth		Third		Second
($ in millions)	Quarter		Quarter		Quarter		Quarter		Quarter
Personnel costs	$	110	$	—	$	—	$	—	$	—
Outside data processing and other services	33		8		—		—		—
Equipment	3		1		—		—		—
Net occupancy	35		3		—		—		—
Lease financing equipment depreciation	—		—		—		—		—
Professional services	36		8		—		—		—
Amortization of intangibles	—		—		—		—		—
Marketing	—		—		—		—		—
Deposit and other insurance expense	—		—		—		—		—
Other noninterest expense	52		1		—		—		—
Total noninterest expense	$	269	$	21	$	—	$	—	$	—

Table 10 - Adjusted Noninterest Expense (Non-GAAP)


	2021				2020
	Second		First		Fourth		Third		Second		Change (%)
($ in millions)	Quarter		Quarter		Quarter		Quarter		Quarter		LQ		YOY
Personnel costs	$	482	$	468	$	426	$	453	$	418	3	%	15	%
Outside data processing and other services	129		107		111		98		90		21		43
Equipment	52		45		49		44		46		16		13
Net occupancy	37		39		39		40		39		(5)		(5)
Lease financing equipment depreciation	5		—		—		—		1		0		400
Professional services	12		9		21		12		11		33		9
Amortization of intangibles	11		10		10		10		10		10		10
Marketing	15		14		15		9		5		7		200
Deposit and other insurance expense	8		8		8		6		9		0		(11)
Other noninterest expense	52		72		77		40		46		(28)		13
Total adjusted noninterest expense	$	803	$	772	$	756	$	712	$	675	4	%	19	%

Reported total noninterest expense for the 2021 second quarter increased $397 million, or 59%, from the year-ago quarter, primarily reflecting $269 million of Notable Items. Personnel costs increased $174 million, or 42%, primarily due to $110 million of Notable Items, higher salaries and incentives related to an 8% increase in average full-time equivalent employees, and an increase in medical insurance expense due to lower costs in the prior year quarter. Outside data processing and other services increased $72 million, or 80%, reflecting technology investments and $33 million of Notable Items. Marketing expense increased $10 million, or 200%, reflecting an increase in brand marketing in new markets and a return to pre-pandemic spend levels. In addition to the above, changes to noninterest expense across categories also reflect the late-quarter TCF acquisition.

Reported total noninterest expense increased $279 million, or 35%, from the 2021 first quarter, primarily reflecting $269 million of Notable Items. Personnel costs increased $124 million, or 26%, primarily reflecting the $110 million of Notable Items. Outside data processing and other services expense increased $47 million, or 41%, primarily reflecting $33 million of Notable Items in the 2021 second quarter compared to $8 million of Notable Items in the prior quarter. Other noninterest expense increased $31 million, or 42%, primarily reflecting $52 million of one-time expenses, including a $50 million foundation donation, in the 2021 second quarter versus a $25 million foundation donation in the prior quarter. In addition to the above, changes to noninterest expense across categories also reflect the late-quarter TCF acquisition.

Credit Quality

Table 11 – Credit Quality Metrics – TCF Acquisition Drives Reserve Build; Underlying Credit Metrics Continue Positive Trend


	2021						2020
($ in millions)	June 30,			March 31,			December 31,			September 30,			June 30,
Total nonaccrual loans and leases	$	977		$	516		$	532		$	569		$	648
Total other real estate, net	7			2			4			5			7
Other NPAs (1)	30			26			27			28			58
Total nonperforming assets	1,014			544			563			602			713
Accruing loans and leases past due 90+ days	148			154			171			175			194
NPAs + accruing loans & leases past due 90+ days	$	1,162		$	698		$	734		$	777		$	907
NAL ratio (2)	0.87		%	0.64		%	0.65		%	0.70		%	0.81		%
NPA ratio (3)	0.91			0.68			0.69			0.74			0.89
(NPAs+90 days)/(Loans+OREO)	1.04			0.87			0.90			0.96			1.13


Provision (benefit) for credit losses	$	211		$	(60)		$	103		$	177		$	327
Net charge-offs (4)	62			64			112			113			107
Net charge-offs / Average total loans	0.28		%	0.32		%	0.55		%	0.56		%	0.54		%
Allowance for loans and lease losses (ALLL)	$	2,218		$	1,703		$	1,814		$	1,796		$	1,702
Allowance for unfunded lending commitments	104			38			52			82			119
Allowance for credit losses (ACL)	$	2,322		$	1,741		$	1,866		$	1,878		$	1,821
ALLL as a % of:
Total loans and leases	1.98		%	2.12		%	2.22		%	2.21		%	2.12		%
NALs	227			330			341			316			263
NPAs	219			313			323			298			239
ACL as a % of:
Total loans and leases	2.08		%	2.17		%	2.29		%	2.31		%	2.27		%
NALs	238			338			351			330			281
NPAs	229			320			332			311			255

(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.

(4)Net charge-offs and associated metrics for the period ended June 30, 2021 exclude $80 million of charge-offs recognized immediately upon completion of the TCF acquisition and related to required purchase accounting treatment.

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

Overall asset quality metrics were impacted by the TCF acquisition, while underlying trends within legacy Huntington portfolios continued to trend positively. Nonperforming assets (NPAs) increased to $1.0 billion, or 0.91% of total loans and leases and OREO, from $713 million, or 0.89%, a year ago. Nonaccrual loans and leases (NALs) increased $329 million, or 51%, to $977 million, or 0.87% of total loans and leases. On a linked quarter basis, NALs increased $461 million, or 89%, while NPAs increased $470 million, or 86%. The linked quarter increase in both NALs and NPAs was driven largely by the TCF acquisition.

The provision for credit losses decreased $116 million year-over-year to $211 million in the 2021 second quarter. Net charge-offs (NCOs) decreased $45 million to $62 million. NCOs represented an annualized 0.28% of average loans and leases in the current quarter, down from 0.32% in the prior quarter and down from 0.54% in the year-ago quarter. Consumer NCOs showed improvement on a year-over-year and linked quarter basis, with auto and home equity both recording net recoveries in the quarter. Commercial NCOs showed improvement on a year-over-year basis, but worsened on a linked quarter basis driven largely by the TCF acquisition. We remain confident in the long-term credit performance of our loan portfolios.

The allowance for loan and lease losses (ALLL) increased $516 million from the year-ago quarter to $2.2 billion, or 1.98% of total loans and leases. The ALLL as a percentage of period-end total NALs decreased to 227%

from 263% over the same period. The allowance for credit losses (ACL) increased by $501 million from the year-ago quarter to $2.3 billion, or 2.08% of total loans and leases. On a linked quarter basis, the ACL increased $581 million, driven primarily by the credit mark for the acquired TCF portfolio, partially offset by a net reduction in the allowance for the legacy Huntington portfolio. We believe the levels of the ALLL and ACL are appropriate given the current level of problem loans and the economic outlook.

Capital

Table 12 – Capital Ratios – Ratios Remain within Targeted Operating Ranges


	2021						2020
($ in billions)	June 30,			March 31,			December 31,			September 30,			June 30,
Tangible common equity / tangible assets ratio	7.16		%	7.11		%	7.16		%	7.27		%	7.28		%
Common equity tier 1 risk-based capital ratio (1)	9.97		%	10.32		%	10.00		%	9.89		%	9.84		%
Regulatory Tier 1 risk-based capital ratio (1)	12.24		%	13.32		%	12.47		%	12.37		%	11.79		%
Regulatory Total risk-based capital ratio (1)	14.15		%	15.25		%	14.46		%	14.39		%	13.84		%
Total risk-weighted assets (1)	$	126.3		$	89.5		$	88.9		$	88.4		$	87.3

(1)June 30, 2021 figures are estimated. Amounts are presented on a Basel III standardized approach basis for calculating risk-weighted assets. The capital ratios reflect Huntington’s election of a five-year transition to delay for two years the full impact of CECL on regulatory capital, followed by a three-year transition period.

See Page 16 of Quarterly Financial Supplement for additional detail.

The tangible common equity to tangible assets ratio was 7.16% at June 30, 2021, down 12 basis points from a year ago due to year-over-year balance sheet growth. Common Equity Tier 1 (CET1) risk-based capital ratio was 9.97%, up from 9.84% a year ago. The regulatory Tier 1 risk-based capital ratio was 12.24% compared to 11.79% at June 30, 2020. The increase in regulatory capital ratios was driven by earnings, adjusted for CECL transition, offset by cash dividends. The balance sheet growth as a result of the TCF acquisition was largely offset by the common stock issued related to the acquisition, net of goodwill and intangibles, as well as the change in asset mix during 2020 related to the PPP loans and elevated deposits at the Federal Reserve Bank (both of which are 0% risk weighted). The regulatory Tier 1 risk-based capital and total risk-based capital ratios also reflect the issuance of $500 million of Series G preferred stock in the 2020 third quarter, $500 million of Series H preferred stock in the 2021 first quarter, and the issuance of $175 million of Series I preferred stock in the 2021 second quarter resulting from the conversion of TCF preferred stock.

Subsequent to quarter end, Huntington redeemed $600 million of Series D preferred stock on July 15, 2021, which represented all of the Series D preferred stock issued and outstanding.

In addition, the Board approved the repurchase of up to $800 million of common shares over the next four quarters. Purchases of common stock under the authorization may include open market purchases, privately negotiated transactions, and accelerated share repurchase programs.

Income Taxes

The provision for income taxes was $14 million in the 2021 second quarter and $31 million in the 2020 second quarter. The effective tax rates for the 2021 second quarter and 2020 second quarter were (2,353.3%) and 17.2%, respectively. The variance between the 2021 second quarter and the 2020 second quarter provision for income taxes relates primarily to lower pre-tax income as a result of acquisition-related expenses, an increase in tax reserves related to ongoing IRS examinations, and the impact of stock-based compensation. Excluding TCF acquisition-related expenses of $269 million, the related tax benefit of $51 million, and discrete tax expenses of $16 million, the effective tax rate for the 2021 second quarter would have been 18.8%.

At June 30, 2021, we had a net federal deferred tax liability of $179 million and a net state deferred tax asset of $27 million.

Conference Call / Webcast Information

Huntington’s senior management will host an earnings conference call on July 29, 2021, at 8:30 a.m. (Eastern Daylight 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 #13720782. 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 August 6, 2021 at (877) 660-6853 or (201) 612-7415; conference ID #13720782.

Please see the 2021 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 $175 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 more than 1,200 branches in 12 states, with certain businesses operating in extended geographies. Visit Huntington.com for more information.

Caution regarding Forward-Looking Statements

This communication contains certain forward-looking statements, including, but not limited to, certain plans, expectations, goals, projections, and statements, which are not historical facts and are subject to numerous assumptions, risks, and uncertainties. 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, believe, intend, estimate, plan, 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.

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: changes in general economic, political, or industry conditions; the magnitude and duration of the COVID-19 pandemic and its impact on the global economy and financial market conditions and our business, results of operations, and financial condition; uncertainty in U.S. fiscal and monetary policy, including the interest rate policies of the Federal Reserve Board; volatility and disruptions in global capital and credit markets; movements in interest rates; reform of LIBOR; 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; 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 OCC, Federal Reserve, FDIC, and CFPB; the possibility that the anticipated benefits of the transaction with TCF 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 does business; the possibility that the proposed branch divestiture will not close when expected or at all because required regulatory approvals are not received or other conditions to the closing are not satisfied on a timely basis or at all; the possibility that the branch divestiture 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 or employee relationships, including those resulting from the announcement or completion of the branch divestiture; and other factors that may affect the future results of Huntington. 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, 2020 and in its subsequent Quarterly Reports on Form 10-Q, including for the quarter ended March 31, 2021, 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 “Publications and Filings” and in other documents Huntington files with the SEC.

All forward-looking statements speak only as of the date they are made and are based on information available at that time. Huntington does not assume any obligation to update forward-looking statements to reflect circumstances or events 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. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements.

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, 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 columns of data 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, 2021

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			9

Selected Quarterly Income Statement Data			10

Quarterly Mortgage Banking 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 and Accruing and Nonaccruing Troubled Debt Restructured Loans			15

Quarterly Capital Under Current Regulatory Standards (Basel III) and Other Capital Data			16

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

Consolidated Year to Date Average Balance Sheets			18

Consolidated Year to Date Net Interest Margin - Interest Income / Expense			19

Consolidated Year to Date Net Interest Margin - Yield			20

Selected Year to Date Income Statement Data			21

Year to Date Mortgage Banking Income			22

Year to Date Credit Reserves Analysis			23

Year to Date Net Charge-Off Analysis			24

Year to Date Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)			25

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. Certain prior period amounts have been reclassified to conform to the current period’s presentation.

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, and

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

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. These 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. 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.
	2021			2021			2020			1Q21		2Q20
Net interest income (2)	$	844		$	978		$	797		(14)	%	6	%
FTE adjustment	(6)			(6)			(5)			—		(20)
Net interest income	838			972			792			(14)		6
Provision (benefit) for credit losses	211			(60)			327			452		(35)
Noninterest income	444			395			391			12		14
Noninterest expense	1,072			793			675			35		59
(Loss) income before income taxes	(1)			634			181			(100)		(101)
Provision for income taxes	14			102			31			(86)		(55)
(Loss) income after income taxes	(15)			532			150			(103)		(110)
Income attributable to non-controlling interest	—			—			—			—		—
Net (loss) income attributable to Huntington Bancshares Inc	(15)			532			150			(103)		(110)
Dividends on preferred shares	43			31			19			39		126
Net (loss) income applicable to common shares	$	(58)		$	501		$	131		(112)	%	(144)	%

Net (loss) income per common share - diluted	$	(0.05)		$	0.48		$	0.13		(110)	%	(138)	%
Cash dividends declared per common share	0.15			0.15			0.15			—		—
Tangible book value per common share at end of period	8.23			8.64			8.32			(5)		(1)
Number of common shares repurchased	—			—			—			—		—
Average common shares - basic	1,125			1,018			1,016			11		11
Average common shares - diluted	1,125			1,041			1,029			8		9
Ending common shares outstanding	1,477			1,018			1,017			45		45
Return on average assets	(0.05)		%	1.76		%	0.51		%
Return on average common shareholders’ equity	(1.9)			18.7			5.0
Return on average tangible common shareholders’ equity (1)	(2.1)			23.7			6.7
Net interest margin (2)	2.66			3.48			2.94
Efficiency ratio (3)	83.1			57.0			55.9
Effective tax rate (4)	(2,353.3)			16.1			17.2
Average total assets	$	137,830		$	122,995		$	118,191		12		17
Average earning assets	127,421			114,105			109,038			12		17
Average loans and leases	87,437			80,261			80,199			9		9
Average loans and leases - linked quarter annualized growth rate	35.8		%	(4.2)		%	23.8		%
Average total deposits	$	112,678		$	99,285		$	93,222		13		21
Average core deposits (5)	109,433			95,815			88,878			14		23
Average core deposits - linked quarter annualized growth rate	56.9		%	15.1		%	47.0		%
Average shareholders’ equity	15,410			13,324			11,945			16		29
Average common total shareholders' equity	12,697			10,858			10,590			17		20
Average tangible common shareholders' equity	9,686			8,722			8,429			11		15
Total assets at end of period	175,172			125,768			118,425			39		48
Total shareholders’ equity at end of period	20,511			13,600			12,314			51		67

NCOs as a % of average loans and leases	0.28		%	0.32		%	0.54		%
NAL ratio	0.87			0.64			0.81
NPA ratio (6)	0.91			0.68			0.89
Allowance for loan and lease losses (ALLL) as a % of total loans and leases at the end of period	1.98			2.12			2.12
Allowance for credit losses (ACL) as a % of total loans and leases at the end of period	2.08			2.17			2.27
Common equity tier 1 risk-based capital ratio (7)	9.97			10.32			9.84
Tangible common equity / tangible asset ratio (8)	7.16			7.11			7.28

See Notes to the Quarterly 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)	2021			2020			Amount		Percent
Net interest income (2)	$	1,822		$	1,593		$	229	14	%
FTE adjustment	(12)			(11)			(1)		(9)
Net interest income	1,810			1,582			228		14
Provision for credit losses	151			768			(617)		(80)
Noninterest income	839			752			87		12
Noninterest expense	1,865			1,327			538		41
Income before income taxes	633			239			394		165
Provision for income taxes	116			41			75		183
Income after income taxes	517			198			319		161
Income attributable to non-controlling interest	—			—			—		—
Net Income attributable to Huntington Bancshares Inc	517			198			319		161
Dividends on preferred shares	74			37			37		100
Net income applicable to common shares	$	443		$	161		$	282	175	%

Net income per common share - diluted	$	0.40		$	0.16		$	0.24	150	%
Cash dividends declared per common share	0.30			0.30			—		—

Average common shares - basic	1,071			1,017			54		5
Average common shares - diluted	1,094			1,032			62		6

Return on average assets	0.80		%	0.35		%
Return on average common shareholders’ equity	7.6			3.1
Return on average tangible common shareholders’ equity (1)	10.0			4.3
Net interest margin (2)	3.04			3.04
Efficiency ratio (3)	69.6			55.7
Effective tax rate	18.5			17.2

Average total assets	$	130,454		$	114,169		$	16,285	14
Average earning assets	120,800			105,410			15,390		15
Average loans and leases	83,867			77,947			5,920		8
Average total deposits	106,018			87,977			18,041		21
Average core deposits (5)	102,540			83,758			18,782		22
Average shareholders’ equity	14,376			11,790			2,586		22
Average common total shareholders' equity	11,786			10,511			1,275		12
Average tangible common shareholders' equity	9,210			8,347			863		10

NCOs as a % of average loans and leases	0.30		%	0.58		%
NAL ratio	0.87			0.81
NPA ratio (6)	0.91			0.89

See Notes to the Annual and Quarterly Key Statistics.

Key Statistics Footnotes

(1)Net (loss) 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.

(2)On a fully-taxable equivalent (FTE) basis 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)For the three months ended June 30, 2021, excluding TCF acquisition-related net expenses of $269 million, the related tax benefit of $51 million and discrete tax expenses of $16 million, the effective tax rate would have been 18.8%.

(5)Includes noninterest-bearing and interest-bearing demand deposits, money market deposits, savings and other domestic deposits, and core certificates of deposit.

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

(7)June 30, 2021, figures are estimated.

(8)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


	June 30,		December 31,
(dollar amounts in millions)	2021		2020		Percent Changes
	(Unaudited)
Assets
Cash and due from banks	$	1,479	$	1,319	12	%
Interest-bearing deposits at Federal Reserve Bank	11,776		5,276		123
Interest-bearing deposits in banks	671		117		474
Trading account securities	93		62		50
Available-for-sale securities	22,915		16,485		39
Held-to-maturity securities	11,415		8,861		29


Other securities	692		418		66
Loans held for sale	1,391		1,275		9
Loans and leases (1)	111,905		81,608		37
Allowance for loan and lease losses	(2,218)		(1,814)		(22)
Net loans and leases	109,687		79,794		37
Bank owned life insurance	2,763		2,577		7
Premises and equipment	1,128		757		49
Goodwill	5,316		1,990		167
Servicing rights and other intangible assets	619		428		45
Other assets	5,227		3,679		42
Total assets	$	175,172	$	123,038	42	%

Liabilities and shareholders’ equity
Liabilities
Deposits (2)	$	142,805	$	98,948	44	%
Short-term borrowings	391		183		114
Long-term debt	7,342		8,352		(12)
Other liabilities	4,103		2,562		60
Total liabilities	154,641		110,045		41

Shareholders' equity
Preferred stock	2,851		2,191		30
Common stock	15		10		50
Capital surplus	15,830		8,781		80
Less treasury shares, at cost	(105)		(59)		(78)
Accumulated other comprehensive (loss) gain	(19)		192		(110)
Retained earnings	1,939		1,878		3
Total Huntington Bancshares Inc shareholders’ equity	20,511		12,993		58
Non-controlling interest	20		—		100
Total Equity	20,531		12,993		58
Total liabilities and shareholders’ equity	$	175,172	$	123,038	42	%

Common shares authorized (par value of $0.01)	2,250,000,000		1,500,000,000
Common shares outstanding	1,476,557,426		1,017,196,776
Treasury shares outstanding	8,056,484		5,062,054
Preferred stock, authorized shares	6,617,808		6,617,808
Preferred shares outstanding	1,257,500		750,500

(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)	2021				2021				2020				2020				2020
Ending Balances by Type:
Total loans
Commercial:
Commercial and industrial	$	41,900	38	%	$	32,297	40	%	$	33,151	40	%	$	32,588	40	%	$	32,548	41	%
Commercial real estate:
Construction	1,926		2		1,083		1		1,035		1		1,154		1		1,200		1
Commercial	12,848		11		6,096		8		6,164		8		6,055		7		5,979		7
Commercial real estate	14,774		13		7,179		9		7,199		9		7,209		8		7,179		8
Lease financing	5,027		4		2,167		3		2,222		3		2,307		3		2,331		3
Total commercial	61,701		55		41,643		52		42,572		52		42,104		51		42,058		52
Consumer:
Automobile	13,174		12		12,591		16		12,778		16		12,925		17		12,678		16
Residential mortgage	18,729		17		12,092		15		12,141		15		12,031		15		11,621		15
Home Equity	11,317		10		8,727		11		8,894		11		8,904		11		8,866		11
RV and marine	4,960		4		4,218		5		4,190		5		4,146		5		3,843		5
Other consumer	2,024		2		959		1		1,033		1		1,046		1		1,073		1
Total consumer	50,204		45		38,587		48		39,036		48		39,052		49		38,081		48
Total loans and leases	$	111,905	100	%	$	80,230	100	%	$	81,608	100	%	$	81,156	100	%	$	80,139	100	%


	June 30,				March 31,				December 31,				September 30,				June 30,
(dollar amounts in millions)	2021				2021				2020				2020				2020
Ending Balances by Business Segment:
Consumer and Business Banking	$	36,798	33	%	$	26,658	33	%	$	27,230	33	%	$	27,517	34	%	$	27,173	34	%
Commercial Banking	46,559		41		27,318		34		27,374		34		26,847		33		26,916		34
Vehicle Finance	20,196		18		19,474		24		20,027		25		19,891		25		19,345		24
RBHPCG (Regional Banking and The Huntington Private Client Group)	7,394		7		6,587		8		6,809		8		6,682		8		6,576		8
Treasury / Other	958		1		193		1		168		—		219		—		129		—
Total loans and leases	$	111,905	100	%	$	80,230	100	%	$	81,608	100	%	$	81,156	100	%	$	80,139	100	%

Average Balances by Business Segment:
Consumer and Business Banking	$	28,948	33	%	$	27,069	34	%	$	27,483	34	%	$	27,315	34	%	$	25,379	32	%
Commercial Banking	31,896		37		26,694		33		26,727		33		26,809		34		28,173		35
Vehicle Finance	19,548		22		19,735		25		19,977		25		19,651		24		19,822		25
RBHPCG	6,840		8		6,568		8		6,751		8		6,630		8		6,498		8
Treasury / Other	205		—		195		—		178		—		137		—		327		—
Total loans and leases	$	87,437	100	%	$	80,261	100	%	$	81,116	100	%	$	80,542	100	%	$	80,199	100	%

Huntington Bancshares Incorporated

Deposits Composition

(Unaudited)


	June 30,				March 31,				December 31,				September 30,				June 30,
(dollar amounts in millions)	2021				2021				2020				2020				2020
Ending Balances by Type:
Demand deposits - noninterest-bearing	$	45,249	32	%	$	31,226	30	%	$	28,553	29	%	$	27,466	29	%	$	27,574	29	%
Demand deposits - interest-bearing	34,938		24		27,493		27		26,757		27		24,242		25		22,961		25
Money market deposits	33,616		24		26,268		26		26,248		27		26,230		28		25,312		27
Savings and other domestic deposits	20,876		15		13,115		13		11,722		12		11,268		12		11,034		12
Core certificates of deposit (1)	3,537		2		1,329		1		1,425		1		1,586		2		2,478		3
Total core deposits	138,216		97		99,431		97		94,705		96		90,792		96		89,359		96
Other domestic deposits of $250,000 or more	675		—		105		—		131		—		156		—		209		—
Negotiable CDS, brokered and other deposits	3,914		3		2,648		3		4,112		4		4,206		4		4,123		4

Total deposits	$	142,805	100	%	$	102,184	100	%	$	98,948	100	%	$	95,154	100	%	$	93,691	100	%
Total core deposits:
Commercial	$	61,055	44	%	$	46,539	47	%	$	44,698	47	%	$	43,018	47	%	$	41,630	47	%
Consumer	77,161		56		52,892		53		50,007		53		47,774		53		47,729		53
Total core deposits	$	138,216	100	%	$	99,431	100	%	$	94,705	100	%	$	90,792	100	%	$	89,359	100	%


	June 30,				March 31,				December 31,				September 30,				June 30,
(dollar amounts in millions)	2021				2021				2020				2020				2020
Ending Balances by Business Segment:
Consumer and Business Banking	$	95,693	67	%	$	65,437	64	%	$	60,910	61	%	$	59,302	62	%	$	59,202	63	%
Commercial Banking	32,624		23		25,420		25		24,766		25		23,599		25		22,041		24
Vehicle Finance	1,155		1		849		1		722		1		777		1		824		1
RBHPCG	8,416		6		7,163		7		7,635		8		6,623		7		6,834		7
Treasury / Other (2)	4,917		3		3,315		3		4,915		5		4,853		5		4,790		5
Total deposits	$	142,805	100	%	$	102,184	100	%	$	98,948	100	%	$	95,154	100	%	$	93,691	100	%

Average Balances by Business Segment:
Consumer and Business Banking	$	73,011	65	%	$	62,333	63	%	$	60,163	62	%	$	59,460	63	%	$	56,858	61	%
Commercial Banking	27,372		24		25,100		25		24,051		25		23,285		24		24,414		26
Vehicle Finance	1,035		1		768		1		760		1		839		1		646		1
RBHPCG	7,564		7		7,059		7		6,850		7		6,605		7		6,565		7
Treasury / Other (2)	3,696		3		4,025		4		4,740		5		4,860		5		4,739		5
Total deposits	$	112,678	100	%	$	99,285	100	%	$	96,564	100	%	$	95,049	100	%	$	93,222	100	%

(1)Includes consumer certificates of deposit of $250,000 or more.

(2)Comprised primarily of national market deposits.

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)	2021		2021		2020		2020		2020		1Q21		2Q20
Assets
Interest-bearing deposits at Federal Reserve Bank	$	7,636	$	6,065	$	5,507	$	5,857	$	3,413	26	%	124	%
Interest-bearing deposits in banks	319		177		205		177		169		80		89
Securities:
Trading account securities	48		52		53		49		39		(8)		23
Available-for-sale securities:
Taxable	20,096		14,827		12,048		10,670		11,179		36		80
Tax-exempt	2,832		2,650		2,710		2,749		2,728		7		4
Total available-for-sale securities	22,928		17,477		14,758		13,419		13,907		31		65


Held-to-maturity securities - taxable	7,280		8,269		8,844		8,932		9,798		(12)		(26)





Other securities	479		412		420		430		474		16		1
Total securities	30,735		26,210		24,075		22,830		24,218		17		27
Loans held for sale	1,294		1,392		1,319		1,259		1,039		(7)		25
Loans and leases: (2)
Commercial:
Commercial and industrial	34,126		32,153		32,508		32,464		32,975		6		3
Commercial real estate:
Construction	1,310		1,053		1,085		1,175		1,201		24		9
Commercial	7,773		6,122		6,092		6,045		5,885		27		32
Commercial real estate	9,083		7,175		7,177		7,220		7,086		27		28
Lease financing	2,798		2,199		2,342		2,205		2,309		27		21
Total commercial	46,007		41,527		42,027		41,889		42,370		11		9
Consumer:
Automobile	12,793		12,665		12,857		12,889		12,681		1		1
Residential mortgage	13,768		12,094		12,100		11,817		11,463		14		20
Home equity	9,375		8,809		8,919		8,878		8,897		6		5
RV and marine	4,447		4,193		4,181		4,020		3,706		6		20
Other consumer	1,047		973		1,032		1,049		1,082		8		(3)
Total consumer	41,430		38,734		39,089		38,653		37,829		7		10
Total loans and leases	87,437		80,261		81,116		80,542		80,199		9		9
Allowance for loan and lease losses	(1,828)		(1,809)		(1,804)		(1,720)		(1,557)		(1)		(17)
Net loans and leases	85,609		78,452		79,312		78,822		78,642		9		9
Total earning assets	127,421		114,105		112,222		110,665		109,038		12		17
Cash and due from banks	1,106		1,080		1,113		1,173		1,299		2		(15)
Goodwill and other intangible assets	3,055		2,176		2,185		2,195		2,206		40		38
All other assets	8,076		7,443		7,279		7,216		7,205		9		12
Total assets	$	137,830	$	122,995	$	120,995	$	119,529	$	118,191	12	%	17	%
Liabilities and shareholders’ equity
Interest-bearing deposits:
Demand deposits - interest-bearing	$	29,729	$	26,812	$	25,094	$	23,865	$	23,878	11	%	25	%
Money market deposits	28,124		26,247		26,144		26,200		25,728		7		9
Savings and other domestic deposits	15,190		12,277		11,468		11,157		10,609		24		43
Core certificates of deposit (3)	1,832		1,384		1,479		2,035		3,003		32		(39)

Other domestic deposits of $250,000 or more	259		115		139		175		230		125		13
Negotiable CDS, brokered and other deposits	2,986		3,355		4,100		4,182		4,114		(11)		(27)

Total interest-bearing deposits	78,120		70,190		68,424		67,614		67,562		11		16
Short-term borrowings	241		208		239		162		826		16		(71)
Long-term debt	6,887		7,766		8,799		9,318		9,802		(11)		(30)
Total interest-bearing liabilities	85,248		78,164		77,462		77,094		78,190		9		9
Demand deposits - noninterest-bearing	34,558		29,095		28,140		27,435		25,660		19		35
All other liabilities	2,608		2,412		2,452		2,322		2,396		8		9
Total Huntington Bancshares Inc shareholders’ equity	15,410		13,324		12,941		12,678		11,945		16		29
Non-controlling interest	6		—		—		—		—		100		100
Total equity	15,416		13,324		12,941		12,678		11,945		16		29
Total liabilities and shareholders’ equity	$	137,830	$	122,995	$	120,995	$	119,529	$	118,191	12	%	17	%

(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.

(3)Includes consumer certificates of deposit of $250,000 or more.

Huntington Bancshares Incorporated

Consolidated Quarterly Net Interest Margin - Interest Income / Expense (1)(2)

(Unaudited)


	Quarterly Interest Income / Expense
	June 30,		March 31,		December 31,		September 30,		June 30,
(dollar amounts in millions)	2021		2021		2020		2020		2020
Assets
Interest-bearing deposits at Federal Reserve Bank	$	2	$	2	$	2	$	1	$	1
Interest-bearing deposits in banks	—		—		—		—		—
Securities:
Trading account securities	1		—		1		—		—
Available-for-sale securities:
Taxable	67		49		46		50		65
Tax-exempt	17		17		17		18		19
Total available-for-sale securities	84		66		63		68		84
Held-to-maturity securities - taxable	35		42		47		52		58



Other securities	2		2		2		1		1
Total securities	122		110		113		121		143
Loans held for sale	9		9		9		9		9
Loans and leases:
Commercial:
Commercial and industrial	319		315		294		294		292
Commercial real estate:
Construction	12		9		9		10		11
Commercial	60		40		41		41		43
Commercial real estate	72		49		50		51		54
Lease financing	36		28		30		31		31
Total commercial	427		392		374		376		377
Consumer:
Automobile	115		116		125		128		121
Residential mortgage	104		95		99		101		101
Home Equity	89		80		85		84		82
RV and marine	46		44		47		47		43
Other consumer	27		27		29		30		30
Total consumer	381		362		385		390		377
Total loans and leases	808		754		759		766		754
Total earning assets	$	941	$	875	$	883	$	897	$	907

Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	$	4	$	2	$	2	$	3	$	4
Money market deposits	4		4		7		18		25
Savings and other domestic deposits	2		1		1		2		3
Core certificates of deposit (3)	1		2		2		10		7

Other domestic deposits of $250,000 or more	—		—		1		(4)		5
Negotiable CDS, brokered and other deposits	1		2		2		2		3

Total interest-bearing deposits	12		11		15		31		47
Short-term borrowings	—		—		—		—		1
Long-term debt	85		(114)		38		44		62
Total interest bearing liabilities	97		(103)		53		75		110
Net interest income	$	844	$	978	$	830	$	822	$	797

(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.

(3)Includes consumer certificates of deposit of $250,000 or more.

Huntington Bancshares Incorporated

Consolidated Quarterly Net Interest Margin - Yield

(Unaudited)


	Quarterly Average Rates
	June 30,		March 31,		December 31,		September 30,		June 30,
Fully-taxable equivalent basis (1)	2021		2021		2020		2020		2020
Assets
Interest-bearing deposits at Federal Reserve Bank	0.11	%	0.10	%	0.10	%	0.10	%	0.10	%
Interest-bearing deposits in banks	0.01		0.08		0.12		0.13		0.33
Securities:
Trading account securities	2.96		3.64		3.65		3.18		1.99
Available-for-sale securities:
Taxable	1.34		1.32		1.53		1.89		2.30
Tax-exempt	2.42		2.52		2.59		2.71		2.75
Total available-for-sale securities	1.47		1.50		1.72		2.06		2.39
Held-to-maturity securities - taxable	1.94		2.02		2.11		2.28		2.39



Other securities	1.72		1.66		1.85		1.23		0.57
Total securities	1.59		1.67		1.87		2.13		2.35
Loans held for sale	2.79		2.64		2.96		2.82		3.22
Loans and leases: (3)
Commercial:
Commercial and industrial	3.70		3.91		3.53		3.55		3.50
Commercial real estate:
Construction	3.57		3.41		3.36		3.40		3.66
Commercial	3.06		2.64		2.62		2.63		2.94
Commercial real estate	3.13		2.75		2.73		2.75		3.06
Lease financing	5.00		5.18		5.08		5.52		5.32
Total commercial	3.67		3.78		3.48		3.52		3.53
Consumer:
Automobile	3.62		3.71		3.88		3.93		3.84
Residential mortgage	3.04		3.13		3.27		3.41		3.51
Home Equity	3.79		3.71		3.76		3.79		3.73
RV and marine	4.13		4.30		4.53		4.60		4.71
Other consumer	10.17		11.17		11.12		11.23		11.10
Total consumer	3.69		3.78		3.93		4.00		4.00
Total loans and leases	3.68		3.78		3.70		3.75		3.75
Total earning assets	2.96		3.11		3.13		3.22		3.35
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	0.04		0.04		0.04		0.05		0.07
Money market deposits	0.06		0.06		0.10		0.28		0.40
Savings and other domestic deposits	0.04		0.04		0.05		0.06		0.10
Core certificates of deposit (4)	0.19		0.51		0.56		1.03		1.55

Other domestic deposits of $250,000 or more	0.26		0.22		0.51		0.92		1.25
Negotiable CDS, brokered and other deposits	0.16		0.18		0.19		0.19		0.18

Total interest-bearing deposits	0.06		0.06		0.08		0.18		0.28
Short-term borrowings	0.47		0.19		0.26		0.30		0.47
Long-term debt	4.97		(5.88)		1.72		1.87		2.58
Total interest-bearing liabilities	0.45		(0.53)		0.27		0.39		0.57

Net interest rate spread	2.51		3.64		2.86		2.83		2.78
Impact of noninterest-bearing funds on margin	0.15		(0.16)		0.08		0.13		0.16
Net interest margin	2.66	%	3.48	%	2.94	%	2.96	%	2.94	%


Commercial Loan Derivative Impact
(Unaudited)
	Average Rates
	2021		2021		2020		2020		2020
Fully-taxable equivalent basis (1)	Second		First		Fourth		Third		Second
Commercial loans (2)(3)	3.27	%	3.22	%	2.92	%	3.01	%	3.17	%
Impact of commercial loan derivatives	0.40		0.56		0.56		0.51		0.36
Total commercial - as reported	3.67	%	3.78	%	3.48	%	3.52	%	3.53	%
Average 1 Month LIBOR	0.10	%	0.12	%	0.15	%	0.16	%	0.36	%

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

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

(3)Includes nonaccrual loans and leases.

(4)Includes consumer certificates of deposit of $250,000 or more.

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,
	2021		2021		2020		2020		2020
Interest income	$	935	$	869	$	878	$	892	$	902
Interest expense	97		(103)		53		75		110
Net interest income	838		972		825		817		792
Provision for credit losses	211		(60)		103		177		327
Net interest income after provision for credit losses	627		1,032		722		640		465
Mortgage banking income	67		100		90		122		96
Service charges on deposit accounts	88		69		78		76		60
Card and payment processing income	80		65		65		66		59
Trust and investment management services	56		52		49		48		45
Leasing revenue	12		4		6		3		7
Capital markets fees	35		29		34		27		31
Insurance income	25		27		25		24		25
Bank owned life insurance income	16		16		14		17		17
Gain on sale of loans	3		3		13		13		8
Net gains (losses) on sales of securities	10		—		—		—		(1)
Other noninterest income	52		30		35		34		44
Total noninterest income	444		395		409		430		391
Personnel costs	592		468		426		453		418
Outside data processing and other services	162		115		111		98		90
Equipment	55		46		49		44		46
Net occupancy	72		42		39		40		39
Lease financing equipment depreciation	5		—		—		—		1
Professional services	48		17		21		12		11
Amortization of intangibles	11		10		10		10		10
Marketing	15		14		15		9		5
Deposit and other insurance expense	8		8		8		6		9
Other noninterest expense	104		73		77		40		46
Total noninterest expense	1,072		793		756		712		675
(Loss) income before income taxes	(1)		634		375		358		181
Provision for income taxes	14		102		59		55		31
(Loss) income after income taxes	(15)		532		316		303		150
Income attributable to non-controlling interest	—		—		—		—		—
Net (loss) income attributable to Huntington Bancshares Inc	(15)		532		316		303		150
Dividends on preferred shares	43		31		35		28		19
Net (loss) income applicable to common shares	$	(58)	$	501	$	281	$	275	$	131

Average common shares - basic	1,125		1,018		1,017		1,017		1,016
Average common shares - diluted	1,125		1,041		1,036		1,031		1,029

Per common share
Net (loss) income - basic	$	(0.05)	$	0.49	$	0.28	$	0.27	$	0.13
Net (loss) income - diluted	(0.05)		0.48		0.27		0.27		0.13
Cash dividends declared	0.15		0.15		0.15		0.15		0.15

Revenue - fully-taxable equivalent (FTE)
Net interest income	$	838	$	972	$	825	$	817	$	792
FTE adjustment	6		6		5		5		5
Net interest income (1)	844		978		830		822		797
Noninterest income	444		395		409		430		391
Total revenue (1)	$	1,288	$	1,373	$	1,239	$	1,252	$	1,188

(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)	2021			2021			2020			2020			2020			1Q21		2Q20
Net origination and secondary marketing income	$	70		$	94		$	92		$	118		$	91		(26)	%	(23)	%
Net mortgage servicing income
Loan servicing income	17			17			16			15			14			—		21
Amortization of capitalized servicing	(20)			(20)			(17)			(15)			(12)			—		(67)
Operating (expense) income	(3)			(3)			(1)			—			2			—		(250)
MSR valuation adjustment (1)	(24)			51			4			3			(6)			(147)		(300)
Gains (losses) due to MSR hedging	22			(46)			(9)			(1)			6			148		267
Net MSR risk management	(2)			5			(5)			2			—			(140)		(100)
Total net mortgage servicing (expense) income	$	(5)		$	2		$	(6)		$	2		$	2		(350)	%	(350)	%
All other	2			4			4			2			3			(50)		(33)
Mortgage banking income	$	67		$	100		$	90		$	122		$	96		(33)	%	(30)	%

Mortgage origination volume	$	4,007		$	4,042		$	3,741		$	3,811		$	3,802		(1)	%	5	%
Mortgage origination volume for sale	2,265			2,669			2,444			2,568			2,421			(15)		(6)

Third party mortgage loans serviced (2)	30,398			23,585			23,471			23,334			23,184			29		31
Mortgage servicing rights (2)	327			274			210			191			172			19		90
MSR % of investor servicing portfolio (2)	1.08		%	1.16		%	0.89		%	0.82		%	0.74		%	(7)	%	46	%

(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)	2021			2021			2020			2020			2020
Allowance for loan and lease losses, beginning of period	$	1,703		$	1,814		$	1,796		$	1,702		$	1,504

Loan and lease losses	(102)			(95)			(140)			(141)			(123)
Recoveries of loans and leases previously charged off	40			31			28			28			16
Net loan and lease losses	(62)			(64)			(112)			(113)			(107)
Provision for loan and lease losses	145			(47)			130			207			305
Allowance on loans and leases purchased with credit deterioration	432			—			—			—			—
Allowance of assets sold or transferred to loans held for sale	—			—			—			—			—
Allowance for loan and lease losses, end of period	2,218			1,703			1,814			1,796			1,702
Allowance for unfunded lending commitments, beginning of period	38			52			82			119			99

Provision for (reduction in) unfunded lending commitments	66			(13)			(27)			(30)			22

Unfunded lending commitment losses	—			(1)			(3)			(7)			(2)
Allowance for unfunded lending commitments, end of period	104			38			52			82			119
Total allowance for credit losses, end of period	$	2,322		$	1,741		$	1,866		$	1,878		$	1,821
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases	1.98		%	2.12		%	2.22		%	2.21		%	2.12		%
Nonaccrual loans and leases (NALs)	227			330			341			316			263
Nonperforming assets (NPAs)	219			313			323			298			239
Total allowance for credit losses (ACL) as % of:
Total loans and leases	2.08		%	2.17		%	2.29		%	2.31		%	2.27		%
Nonaccrual loans and leases (NALs)	238			338			351			330			281
Nonperforming assets (NPAs)	229			320			332			311			255

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)	2021			2021			2020			2020			2020
Net charge-offs (recoveries) by loan and lease type:
Commercial:
Commercial and industrial	$	37		$	28		$	54		$	70		$	80
Commercial real estate:
Construction	—			—			—			(1)			1
Commercial	17			(3)			32			13			(1)
Commercial real estate	17			(3)			32			12			—
Lease Financing	5			24			4			7			—
Total commercial	59			49			90			89			80
Consumer:
Automobile	(4)			2			6			10			10
Residential mortgage	—			—			1			1			—
Home Equity	(1)			—			1			—			—
RV and marine	—			3			2			4			4
Other consumer	8			10			12			9			13
Total consumer	3			15			22			24			27
Total net charge-offs (1)	$	62		$	64		$	112		$	113		$	107


	Three Months Ended
	June 30,			March 31,			December 31,			September 30,			June 30,
	2021			2021			2020			2020			2020
Net charge-offs (recoveries) - annualized percentages:
Commercial:
Commercial and industrial	0.43		%	0.35		%	0.65		%	0.88		%	0.96		%
Commercial real estate:
Construction	(0.04)			(0.04)			(0.04)			(0.25)			(0.01)
Commercial	0.81			(0.17)			2.14			0.80			(0.03)
Commercial real estate	0.69			(0.15)			1.81			0.63			(0.03)
Lease financing	0.93			4.32			0.86			1.10			0.01
Total commercial	0.51			0.47			0.86			0.85			0.75
Consumer:
Automobile	(0.13)			0.05			0.21			0.31			0.31
Residential mortgage	—			0.01			0.05			0.03			0.02
Home Equity	(0.08)			0.02			0.01			(0.02)			0.08
RV and marine	0.02			0.29			0.21			0.38			0.37
Other consumer	3.13			3.99			4.35			3.55			4.80
Total consumer	0.02			0.16			0.22			0.24			0.30
Net charge-offs as a % of average loans (1)	0.28		%	0.32		%	0.55		%	0.56		%	0.54		%

(1)Net charge-offs and associated metrics for the period ended June 30, 2021 exclude $80 million of charge-offs recognized immediately upon completion of the TCF acquisition and related to required purchase accounting treatment.

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)	2021			2021			2020			2020			2020
Nonaccrual loans and leases (NALs):
Commercial and industrial	$	591		$	326		$	349		$	378		$	462
Commercial real estate	83			8			15			16			28
Lease financing	74			17			4			10			23
Automobile	3			3			4			5			8
Residential mortgage	130			90			88			88			66
Home equity	91			71			70			71			59
RV and marine	5			1			2			1			2
Other consumer	—			—			—			—			—
Total nonaccrual loans and leases	977			516			532			569			648
Other real estate, net:
Residential	5			2			4			4			5
Commercial	2			—			—			1			2
Total other real estate, net	7			2			4			5			7
Other NPAs (2)	30			26			27			28			58
Total nonperforming assets	$	1,014		$	544		$	563		$	602		$	713

Nonaccrual loans and leases as a % of total loans and leases	0.87		%	0.64		%	0.65		%	0.70		%	0.81		%
NPA ratio (3)	0.91			0.68			0.69			0.74			0.89
(NPA+90days)/(Loan+OREO) (4)	1.04			0.87			0.90			0.96			1.13


	Three Months Ended
	June 30,		March 31,		December 31,		September 30,		June 30,
(dollar amounts in millions)	2021		2021		2020		2020		2020
Nonperforming assets, beginning of period	$	544	$	563	$	602	$	713	$	586
New nonperforming assets	116		129		248		190		279
Acquired NPAs	630		—		—		—		—
Transfer to OREO	(1)		—		—		—		—
Returns to accruing status	(46)		(33)		(108)		(47)		(25)
Charge-offs	(77)		(52)		(73)		(102)		(61)
Payments	(81)		(55)		(82)		(77)		(63)
Sales	(71)		(8)		(24)		(75)		(3)

Nonperforming assets, end of period	$	1,014	$	544	$	563	$	602	$	713

(1)Generally excludes loans that were under payment deferral or granted other assistance, including amendments or waivers of financial covenants in response to the COVID-19 pandemic.

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

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

(4)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 and Accruing and Nonaccruing Troubled Debt Restructured Loans

(Unaudited)


	June 30,			March 31,			December 31,			September 30,			June 30,
(dollar amounts in millions)	2021			2021			2020			2020			2020
Accruing loans and leases past due 90+ days:
Commercial and industrial	$	1		$	—		$	—		$	—		$	—
Commercial real estate	—			—			—			—			—
Lease financing	14			8			10			10			13
Automobile	4			5			9			8			8
Residential mortgage (excluding loans guaranteed by the U.S. Government)	17			18			30			18			17
Home equity	9			10			14			11			10
RV and marine	1			1			3			2			2
Other consumer	2			2			3			2			3
Total, excl. loans guaranteed by the U.S. Government	48			44			69			51			53
Add: loans guaranteed by U.S. Government	100			110			102			124			141
Total accruing loans and leases past due 90+ days, including loans guaranteed by the U.S. Government	$	148		$	154		$	171		$	175		$	194

Ratios:
Excluding loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.04		%	0.05		%	0.08		%	0.06		%	0.07		%
Guaranteed by U.S. Government, as a percent of total loans and leases	0.09			0.14			0.13			0.15			0.18
Including loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.13			0.19			0.21			0.22			0.24

Accruing troubled debt restructured loans:
Commercial and industrial	$	130		$	127		$	193		$	189		$	192
Commercial real estate	26			32			33			34			35
Lease financing	—			—			—			—			—
Automobile	48			51			50			53			52
Residential mortgage	247			249			248			256			229
Home equity	172			179			187			199			209
RV and marine	7			7			6			6			6
Other consumer	8			8			9			10			10
Total accruing troubled debt restructured loans	$	638		$	653		$	726		$	747		$	733

Nonaccruing troubled debt restructured loans:
Commercial and industrial	$	92		$	101		$	95		$	146		$	169
Commercial real estate	2			3			3			3			3
Lease financing	—			—			—			—			—
Automobile	2			2			2			2			2
Residential mortgage	51			51			51			48			43
Home equity	27			30			30			29			26
RV and marine	1			1			1			1			1
Other consumer	—			—			—			—			—
Total nonaccruing troubled debt restructured loans	$	175		$	188		$	182		$	229		$	244

Huntington Bancshares Incorporated

Quarterly Capital Under Current Regulatory Standards (Basel III) and Other Capital Data

(Unaudited)


	June 30,			March 31,			December 31,			September 30,			June 30,
(dollar amounts in millions)	2021			2021			2020			2020			2020
Common equity tier 1 risk-based capital ratio: (1)
Total shareholders’ equity	$	20,511		$	13,600		$	12,992		$	12,917		$	12,314
Regulatory capital adjustments:
CECL transitional amount (2)	459			422			453			456			442
Shareholders’ preferred equity	(2,866)			(2,680)			(2,196)			(2,195)			(1,701)
Accumulated other comprehensive income (loss) offset	19			56			(192)			(257)			(290)
Goodwill and other intangibles, net of related taxes	(5,479)			(2,095)			(2,107)			(2,118)			(2,129)
Deferred tax assets that arise from tax loss and credit carryforwards	(48)			(63)			(63)			(59)			(40)
Common equity tier 1 capital	12,596			9,240			8,887			8,744			8,596
Additional tier 1 capital
Shareholders’ preferred equity	2,866			2,680			2,196			2,195			1,701

Other	—			—			—			—			—
Tier 1 capital	15,462			11,920			11,083			10,939			10,297
Long-term debt and other tier 2 qualifying instruments	1,062			610			660			677			697
Qualifying allowance for loan and lease losses	1,345			1,119			1,113			1,107			1,093
Tier 2 capital	2,407			1,729			1,773			1,784			1,790
Total risk-based capital	$	17,869		$	13,649		$	12,856		$	12,723		$	12,087
Risk-weighted assets (RWA)(1)	$	126,318		$	89,494		$	88,878		$	88,417		$	87,323
Common equity tier 1 risk-based capital ratio (1)	9.97		%	10.32		%	10.00		%	9.89		%	9.84		%
Other regulatory capital data:
Tier 1 leverage ratio (1)	11.65			9.85			9.32			9.31			8.86
Tier 1 risk-based capital ratio (1)	12.24			13.32			12.47			12.37			11.79
Total risk-based capital ratio (1)	14.15			15.25			14.46			14.39			13.84
Non-regulatory capital data:
Tangible common equity / RWA ratio (1)	9.60			9.82			9.74			9.70			9.69

(1)June 30, 2021, figures are estimated.

(2)The CECL transitional amount includes the impact of Huntington's adoption of the new CECL accounting standard on January 1, 2020 and 25% of the cumulative change in the reported allowance for credit losses since adopting CECL, excluding the allowance established at acquisition for purchased credit deteriorated loans.

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,
	2021		2021		2020		2020		2020





Dividends, per share
Cash dividends declared per common share	$	0.15	$	0.15	$	0.15	$	0.15	$	0.15
Common shares outstanding (in millions)
Average - basic	1,125		1,018		1,017		1,017		1,016
Average - diluted	1,125		1,041		1,036		1,031		1,029
Ending	1,477		1,018		1,017		1,017		1,017
Tangible book value per common share (1)	$	8.23	$	8.64	$	8.51	$	8.43	$	8.32
Common share repurchases (in millions)
Number of shares repurchased	—		—		—		—		—

Non-regulatory capital


	June 30,			March 31,			December 31,			September 30,			June 30,
(dollar amounts in millions)	2021			2021			2020			2020			2020
Calculation of tangible equity / asset ratio:
Total shareholders’ equity	$	20,531		$	13,600		$	12,993		$	12,917		$	12,314
Less: goodwill	(5,316)			(1,990)			(1,990)			(1,990)			(1,990)
Less: other intangible assets	(269)			(181)			(191)			(201)			(211)
Add: related deferred tax liability (1)	56			38			40			42			44
Total tangible equity	15,002			11,467			10,852			10,768			10,157
Less: preferred equity	(2,851)			(2,676)			(2,191)			(2,191)			(1,697)
Total tangible common equity	$	12,151		$	8,791		$	8,661		$	8,577		$	8,460
Total assets	$	175,172		$	125,768		$	123,038		$	120,116		$	118,425
Less: goodwill	(5,316)			(1,990)			(1,990)			(1,990)			(1,990)
Less: other intangible assets	(269)			(181)			(191)			(201)			(211)
Add: related deferred tax liability (1)	56			38			40			42			44
Total tangible assets	$	169,643		$	123,635		$	120,897		$	117,967		$	116,268
Tangible equity / tangible asset ratio	8.84		%	9.28		%	8.98		%	9.13		%	8.74		%
Tangible common equity / tangible asset ratio	7.16			7.11			7.16			7.27			7.28
Other data:
Number of employees (Average full-time equivalent)	17,018			15,449			15,477			15,680			15,703
Number of domestic full-service branches (2)	1,239			814			839			839			839
ATM Count	2,340			1,314			1,322			1,330			1,344

(1)Other intangible assets are net of deferred tax liability, calculated at a 21% tax rate.

(2)Includes Regional Banking and The Huntington Private Client Group offices.

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)	2021		2020		Amount		Percent
Assets
Interest-bearing deposits at Federal Reserve Bank	$	6,855	$	2,047	$	4,808	235	%
Interest-bearing deposits in banks	248		159		89		56
Securities:
Trading account securities	50		67		(17)		(25)
Available-for-sale securities:
Taxable	17,476		11,425		6,051		53
Tax-exempt	2,742		2,740		2		—
Total available-for-sale securities	20,218		14,165		6,053		43


Held-to-maturity securities - taxable	7,772		9,613		(1,841)		(19)





Other securities	447		460		(13)		(3)
Total securities	28,487		24,305		10,235		17
Loans held for sale	1,343		952		391		41
Loans and leases: (2)
Commercial:
Commercial and industrial	33,145		30,753		2,392		8
Commercial real estate:
Construction	1,182		1,183		(1)		—
Commercial	6,952		5,726		1,226		21
Commercial real estate	8,134		6,909		1,225		18
Lease financing	2,500		2,313		187		8
Total commercial	43,779		39,975		3,804		10
Consumer:
Automobile	12,729		12,803		(74)		(1)
Residential mortgage	12,936		11,427		1,509		13
Home equity	9,093		8,961		132		1
RV and marine	4,320		3,648		672		18
Other consumer	1,010		1,133		(123)		(11)
Total consumer	40,088		37,972		2,116		6
Total loans and leases	83,867		77,947		5,920		8
Allowance for loan and lease losses	(1,818)		(1,398)		(420)		(30)
Net loans and leases	82,049		76,549		5,500		7
Total earning assets	120,800		105,410		15,390		15
Cash and due from banks	1,093		1,106		(13)		(1)
Goodwill and other intangible assets	2,618		2,211		407		18
All other assets	7,761		6,840		921		13
Total assets	$	130,454	$	114,169	16,285		14	%
Liabilities and shareholders’ equity
Interest-bearing deposits:
Demand deposits - interest-bearing	$	28,279	$	22,540	$	5,739	25	%
Money market deposits	27,190		25,213		1,977		8
Savings and other domestic deposits	13,743		10,120		3,623		36
Core certificates of deposit (3)	1,487		3,028		(1,541)		(51)

Other domestic deposits of $250,000 or more	309		720		(411)		(57)
Negotiable CDS, brokered and other deposits	3,169		3,499		(330)		(9)

Total interest-bearing deposits	74,177		65,120		9,057		14
Short-term borrowings	224		2,105		(1,881)		(89)
Long-term debt	7,324		9,939		(2,615)		(26)
Total interest-bearing liabilities	81,725		77,164		4,561		6
Demand deposits - noninterest-bearing	31,841		22,857		8,984		39
All other liabilities	2,512		2,358		154		7
Total Huntington Bancshares Inc shareholders’ equity	14,376		11,790		2,586		22
Non-controlling interest	—		—		—		—
Total equity	$	14,376	$	11,790	$	2,586	22
Total liabilities and shareholders’ equity	$	130,454	$	114,169	$	16,285	14	%

(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.

(3)Includes consumer certificates of deposit of $250,000 or more.

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)	2021		2020
Assets
Interest-bearing deposits at Federal Reserve Bank	$	4	$	3
Interest-bearing deposits in banks	—		1
Securities:
Trading account securities	1		1
Available-for-sale securities:
Taxable	116		141
Tax-exempt	34		42
Total available-for-sale securities	150		183
Held-to-maturity securities - taxable	77		117



Other securities	4		3
Total securities	232		304
Loans held for sale	18		16
Loans and leases:
Commercial:
Commercial and industrial	634		578
Commercial real estate:
Construction	21		25
Commercial	100		99
Commercial real estate	121		124
Lease financing	64		63
Total commercial	819		765
Consumer:
Automobile	231		251
Residential mortgage	199		206
Home equity	169		189
RV and marine	90		87
Other consumer	54		66
Total consumer	743		799
Total loans and leases	1,562		1,564
Total earning assets	$	1,816	$	1,888
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	$	6	$	27
Money market deposits	8		75
Savings and other domestic deposits	3		7
Core certificates of deposit (3)	3		26

Other domestic deposits of $250,000 or more	—		6
Negotiable CDS, brokered and other deposits	3		11

Total interest-bearing deposits	23		152
Short-term borrowings	—		13
Long-term debt	(29)		130
Total interest-bearing liabilities	(6)		295

Net interest income	$	1,822	$	1,593

(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.

(3)Includes consumer certificates of deposit of $250,000 or more.

Huntington Bancshares Incorporated

Consolidated Year To Date Net Interest Margin - Yield

(Unaudited)


	YTD Average Rates
	Six Months Ended June 30,
Fully-taxable equivalent basis (1)	2021		2020
Assets
Interest-bearing deposits in Federal Reserve Bank	0.11	%	0.26	%
Interest-bearing deposits in banks	0.03		0.89
Securities:
Trading account securities	3.32		2.86
Available-for-sale securities:
Taxable	1.33		2.46
Tax-exempt	2.46		3.03
Total available-for-sale securities	1.48		2.57
Held-to-maturity securities - taxable	1.98		2.44



Other securities	1.69		1.30
Total securities	1.63		2.50
Loans held for sale	2.71		3.30
Loans and leases: (3)
Commercial:
Commercial and industrial	3.80		3.74
Commercial real estate:
Construction	3.50		4.19
Commercial	2.87		3.45
Commercial real estate	2.96		3.58
Lease financing	5.08		5.41
Total commercial	3.72		3.81
Consumer:
Automobile	3.67		3.95
Residential mortgage	3.08		3.60
Home Equity	3.75		4.24
RV and marine	4.21		4.81
Other consumer	10.65		11.77
Total consumer	3.73		4.23
Total loans and leases	3.72		4.01
Total earning assets	3.03	%	3.60	%
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	0.04	%	0.24	%
Money market deposits	0.06		0.60
Savings and other domestic deposits	0.04		0.14
Core certificates of deposit (4)	0.36		1.71

Other domestic deposits of $250,000 or more	0.15		1.81
Negotiable CDS, brokered and other deposits	0.17		0.61

Total interest-bearing deposits	0.06		0.47
Short-term borrowings	0.34		1.26
Long-term debt	(0.78)		2.64
Total interest-bearing liabilities	(0.02)		0.77

Net interest rate spread	3.05		2.83
Impact of noninterest-bearing funds on margin	(0.01)		0.21
Net interest margin	3.04	%	3.04	%


Commercial Loan Derivative Impact
(Unaudited)
	YTD Average Rates
	Six Months Ended June 30,
Fully-taxable equivalent basis (1)	2021		2020
Commercial loans (2)(3)	3.25	%	3.60	%
Impact of commercial loan derivatives	0.47		0.21
Total commercial - as reported	3.72	%	3.81	%
Average 1 Month LIBOR	0.11	%	0.90	%

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

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

(3)Includes the impact of nonaccrual loans and leases.

(4)Includes consumer certificates of deposit of $250,000 or more.

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)	2021		2020		Amount		Percent
Interest income	$	1,804	$	1,877	$	(73)	(4)	%
Interest expense	(6)		295		(301)		(102)
Net interest income	1,810		1,582		228		14
Provision for credit losses	151		768		(617)		(80)
Net interest income after provision for credit losses	1,659		814		845		104
Mortgage banking income	167		154		13		8
Service charges on deposit accounts	157		148		9		6
Card and payment processing income	145		117		28		24
Trust and investment management services	108		92		16		17
Leasing revenue	16		10		6		60
Capital markets fees	64		64		—		—
Insurance income	52		48		4		8
Bank owned life insurance income	32		32		—		—
Gain on sale of loans	6		17		(11)		(65)
Net gains (losses) on sales of securities	10		(1)		11		1,100
Other noninterest income	82		71		11		15
Total noninterest income	839		752		87		12
Personnel costs	1,060		814		246		30
Outside data processing and other services	277		175		102		58
Equipment	101		87		14		16
Net occupancy	114		79		35		44
Lease financing equipment depreciation	5		1		4		400
Professional services	65		22		43		195
Amortization of intangibles	21		21		—		—
Marketing	29		14		15		107
Deposit and other insurance expense	16		18		(2)		(11)
Other noninterest expense	177		96		81		84
Total noninterest expense	1,865		1,327		538		41
Income before income taxes	633		239		394		165
Provision for income taxes	116		41		75		183
Income after income taxes	517		198		319		161
Income attributable to non-controlling interest	—		—		—		—
Net income attributable to Huntington Bancshares Inc	517		198		319		161
Dividends on preferred shares	74		37		37		100
Net income applicable to common shares	$	443	$	161	$	282	175	%
Average common shares - basic	1,071		1,017		54		5
Average common shares - diluted	1,094		1,032		62		6
Per common share
Net income - basic	$	0.41	$	0.16	$	0.25	156	%
Net income - diluted	0.40		0.16		0.24		150
Cash dividends declared	0.30		0.30		—		—
Revenue - fully taxable equivalent (FTE)
Net interest income	$	1,810	$	1,582	$	228	14	%
FTE adjustment (1)	12		11		1		9
Net interest income	1,822		1,593		229		14
Noninterest income	839		752		87		12
Total revenue (1)	$	2,661	$	2,345	$	316	13	%

(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)	2021			2020			Amount			Percent
Net origination and secondary marketing income	$	164		$	136		28			21	%
Net mortgage servicing income
Loan servicing income	34			30			4			13
Amortization of capitalized servicing	(40)			(21)			(19)			(90)
Operating (expense) income	(6)			9			(15)			(167)
MSR valuation adjustment (1)	27			(59)			86			146
(Losses) gains due to MSR hedging	(24)			63			(87)			(138)
Net MSR risk management	3			4			(1)			—
Total net mortgage servicing income	$	(3)		$	13		$	(16)		(123)	%
All other	6			5			1			20
Mortgage banking income	$	167		$	154		$	13		8	%

Mortgage origination volume	$	8,049		$	5,938		$	2,111		36	%
Mortgage origination volume for sale	4,934			3,677			1,257			34

Third party mortgage loans serviced (2)	30,398			23,184			7,214			31
Mortgage servicing rights (2)	327			172			155			90
MSR % of investor servicing portfolio	1.08		%	0.74		%	0.34		%	46	%

(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)	2021			2020
Allowance for loan and lease losses, beginning of period	$	1,814		$	783
Cumulative-effect of change in accounting principle for financial instruments - credit losses (ASU 2016-13)	$	—		$	391
Loan and lease losses	(197)			(259)
Recoveries of loans and leases previously charged off	71			35
Net loan and lease losses	(126)			(224)
Provision for loan and lease losses	98			752
Allowance on loans and leases purchased with credit deterioration	432			—

Allowance for loan and lease losses, end of period	2,218			1,702
Allowance for unfunded lending commitments, beginning of period	$	52		$	104
Cumulative-effect of change in accounting principle for financial instruments - credit losses (ASU 2016-13)	—			2
Provision for unfunded lending commitments	53			16

Unfunded lending commitment losses	(1)			(3)
Allowance for unfunded lending commitments, end of period	104			119
Total allowance for credit losses	$	2,322		$	1,821
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases	1.98		%	2.12		%
Nonaccrual loans and leases (NALs)	227			263
Nonperforming assets (NPAs)	219			239
Total allowance for credit losses (ACL) as % of:
Total loans and leases	2.08		%	2.27		%
Nonaccrual loans and leases (NALs)	238			281
Nonperforming assets (NPAs)	229			255

Huntington Bancshares Incorporated

Year To Date Net Charge-Off Analysis

(Unaudited)


	Six Months Ended June 30,
(dollar amounts in millions)	2021			2020
Net charge-offs (recoveries) by loan and lease type:
Commercial:
Commercial and industrial	$	65		$	163
Commercial real estate:
Construction	—			1
Commercial	14			(2)
Commercial real estate	14			(1)
Lease financing	29			1
Total commercial	108			163
Consumer:
Automobile	(2)			17
Residential mortgage	—			1
Home equity	(1)			5
RV and marine	3			6
Other consumer	18			32
Total consumer	18			61
Total net charge-offs (1)	$	126		$	224


	Six Months Ended June 30,
	2021			2020
Net charge-offs (recoveries) - annualized percentages:
Commercial:
Commercial and industrial	0.39		%	1.06		%
Commercial real estate:
Construction	(0.04)			0.04
Commercial	0.38			(0.04)
Commercial real estate	0.32			(0.03)
Lease financing	2.42			0.11
Total commercial	0.49			0.81
Consumer:
Automobile	(0.04)			0.26
Residential mortgage	0.01			0.02
Home equity	(0.03)			0.14
RV and marine	0.15			0.32
Other consumer	3.54			5.66
Total consumer	0.09			0.33
Net charge-offs as a % of average loans (1)	0.30		%	0.58		%

Huntington Bancshares Incorporated

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

(Unaudited)


	June 30,
(dollar amounts in millions)	2021			2020
Nonaccrual loans and leases (NALs):
Commercial and industrial	$	591		$	462
Commercial real estate	83			28
Lease financing	74			23
Automobile	3			8
Residential mortgage	130			66
Home equity	91			59
RV and marine	5			2
Other consumer	—			—
Total nonaccrual loans and leases	977			648
Other real estate, net:
Residential	5			5
Commercial	2			2
Total other real estate, net	7			7
Other NPAs (1)	30			58
Total nonperforming assets (3)	$	1,014		$	713

Nonaccrual loans and leases as a % of total loans and leases	0.87		%	0.81		%
NPA ratio (2)	0.91			0.89


	Six Months Ended June 30,
(dollar amounts in millions)	2021		2020
Nonperforming assets, beginning of period	$	563	$	498
New nonperforming assets	245		553
Acquired NPAs	630		—
Transfer to OREO	(1)		—
Returns to accruing status	(79)		(43)
Charge-offs	(129)		(152)
Payments	(136)		(133)
Sales and held-for-sale transfers	(79)		(10)
Nonperforming assets, end of period (2)	$	1,014	$	713

(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)Nonaccruing troubled debt restructured loans are included in the total nonperforming assets balance.

Huntington Bancshares Incorporated

Year To Date Accruing Past Due Loans and Leases and Accruing and Nonaccruing Troubled Debt Restructured Loans

(Unaudited)


	Six Months Ended June 30,
(dollar amounts in millions)	2021			2020
Accruing loans and leases past due 90+ days:
Commercial and industrial	$	1		$	—
Commercial real estate	—			—
Lease financing	14			13
Automobile	4			8
Residential mortgage (excluding loans guaranteed by the U.S. Government)	17			17
Home equity	9			10
RV and marine	1			2
Other consumer	2			3
Total, excl. loans guaranteed by the U.S. Government	48			53
Add: loans guaranteed by U.S. Government	100			141
Total accruing loans and leases past due 90 days or more, including loans guaranteed by the U.S. Government	$	148		$	194
Ratios:
Excluding loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.04		%	0.07		%
Guaranteed by U.S. Government, as a percent of total loans and leases	0.09			0.18
Including loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.13			0.24
Accruing troubled debt restructured loans:
Commercial and industrial	$	130		$	192
Commercial real estate	26			35
Lease financing	—			—
Automobile	48			52
Residential mortgage	247			229
Home equity	172			209
RV and marine	7			6
Other consumer	8			10
Total accruing troubled debt restructured loans	$	638		$	733
Nonaccruing troubled debt restructured loans:
Commercial and industrial	$	92		$	169
Commercial real estate	2			3
Lease financing	—			—
Automobile	2			2
Residential mortgage	51			43
Home equity	27			26
RV and marine	1			1
Other consumer	—			—
Total nonaccruing troubled debt restructured loans	$	175		$	244


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


☐			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))


Title of class	Trading Symbol(s)	Name of exchange on which registered
Depositary Shares (each representing a 1/40th interest in a share of 5.875% Series C Non-Cumulative, perpetual preferred stock)	HBANN	NASDAQ
Depositary Shares (each representing a 1/40th interest in a share of 6.250% Series D Non-Cumulative, perpetual preferred stock)	HBANO	NASDAQ
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 1/100th interest in a share of 5.70% Series I Non-Cumulative, perpetual preferred stock)	HBANM	NASDAQ
Common Stock—Par Value $0.01 per Share	HBAN	NASDAQ


Exhibit No.			Description

Exhibit 99.1			News release of Huntington Bancshares Incorporated, dated July 29, 2021
Exhibit 99.2			Quarterly Financial Supplement, June 30, 2021






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