HBAN 8-K
Huntington Bancshares Inc /Md/ (HBAN)
8-K
2026-01-22
For: 2026-01-22
View Original
Added on
July 04, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________________________________________________________________________________________________________________
FORM 8-K
_______________________________________________________________________________________________________________________________
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) January 22, 2026
______________________________________________________________________________________________________________________________
(Exact name of registrant as specified in its charter)
_______________________________________________________________________________________________________________________________
| (State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||
Registrant's address: 41 South High Street , Columbus , Ohio 43287
Registrant’s telephone number, including area code: (614 ) 480-2265
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
_______________________________________________________________________________________________________________________________
Securities registered pursuant to Section 12(b) of the Act:
| Title of class | Trading Symbol(s) | Name of exchange on which registered | ||||||
| Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§24012b-2). | |||||||||||||||||
| Emerging growth company | |||||||||||||||||
| If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ | |||||||||||||||||
Item 2.02. Results of Operations and Financial Condition.
On January 22, 2026, Huntington Bancshares Incorporated (“Huntington”) issued a news release announcing its earnings for the quarter ended December 31, 2025. Also on January 22, 2026, Huntington made a Quarterly Financial Supplement available in the Investor Relations section of Huntington’s website. Copies of Huntington's news release and quarterly financial supplement are attached hereto as Exhibit 99.1 and Exhibit 99.2, respectively, and are incorporated by reference in this Item 2.02.
Huntington’s senior management will host an earnings conference call on January 22, 2026, at 9:00 a.m. (Eastern Time). The call may be accessed via a live Internet webcast at the Investor Relations section of Huntington’s website, www.huntington.com, or through a dial-in telephone number at (877) 407-8029; Conference ID #13757925. 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 January 30, 2026 at (877) 660-6853 or (201) 612-7415; conference ID #13757925.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This communication may contain certain forward-looking statements, including, but not limited to, certain plans, expectations, goals, projections, and statements, which are not historical facts and are subject to numerous assumptions, risks, estimates, and uncertainties that are beyond the control of Huntington. Statements that do not describe historical or current facts, including statements about beliefs and expectations, are forward-looking statements. Forward-looking statements may be identified by words such as expect, anticipate, continue, believe, intend, estimate, plan, trend, objective, target, goal, or similar expressions, or future or conditional verbs such as will, may, might, should, would, could, or similar variations. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995.
While there is no assurance that any list of risks and uncertainties or risk factors is complete, below are certain factors which could cause actual results to differ materially from those contained or implied in the forward-looking statements or historical performance: changes in general economic, political, or industry conditions; deterioration in business and economic conditions, including persistent inflation, supply chain issues or labor shortages; instability in global economic conditions and geopolitical matters, as well as volatility in financial markets; changes in U.S. trade policies, including the imposition of tariffs and retaliatory tariffs; the impact of pandemics and other catastrophic events or disasters on the global economy and financial market conditions and our business, results of operations, and financial condition; the impacts related to or resulting from bank failures and other volatility, including potential increased regulatory requirements and costs, such as Federal Deposit Insurance Corporation ("FDIC") special assessments, long-term debt requirements and heightened capital requirements; potential impacts to macroeconomic conditions, which could affect the ability of depository institutions, including us, to attract and retain depositors and to borrow or raise capital; unexpected outflows of uninsured deposits which may require us to sell investment securities at a loss; changing interest rates which could negatively impact the value of our portfolio of investment securities; the loss of value of our investment portfolio which could negatively impact market perceptions of us and could lead to deposit withdrawals; the effects of social media on market perceptions of us and banks generally; cybersecurity risks; uncertainty in U.S. fiscal and monetary policy, including the interest rate policies of the Board of Governors of the Federal Reserve System ("Federal Reserve"); volatility and disruptions in global capital, foreign exchange, and credit markets; movements in interest rates; competitive pressures on product pricing and services; success, impact, and timing of our business strategies, including market acceptance of any new products or services including those implementing our “Fair Play” banking philosophy; changes in policies and standards for regulatory review of bank mergers; the nature, extent, timing, and results of governmental actions, examinations, reviews, reforms, regulations, and interpretations, including those related to the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Basel III regulatory capital reforms, as well as those involving the Securities and Exchange Commission ("SEC"), the Office of the Comptroller of the Currency, the Federal Reserve, the FDIC, the Consumer Financial Protection Bureau, and state-level regulators; delays in completing the proposed transaction involving Huntington and Cadence Bank ("Cadence"); the failure to satisfy any of the conditions to the transaction involving Huntington and Cadence on a timely basis or at all; the possibility that the anticipated benefits of recent or proposed acquisitions
are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the companies or as a result of the strength of the economy and competitive factors in the areas where the companies do business; and other factors that may affect the future results of Huntington.
All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above. Forward-looking statements speak only as of the date they are made and are based on information available at that time. Huntington does not assume any obligation to update forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in circumstances or other factors affecting forward-looking statements that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws. If Huntington updates one or more forward-looking statements, no inference should be drawn that Huntington will make additional updates with respect to those or other forward-looking statements. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements. See also the other reports filed with the SEC, including discussions under the "Forward-Looking Statements" and "Risk Factors" of Huntington’s Annual Report on Form 10-K for the year ended December 31, 2024 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2025, June 30, 2025, and September 30, 2025, as filed with the SEC and available on its website at www.sec.gov.
The information contained or incorporated by reference in Item 2.02 of this Form 8-K shall be treated as “furnished” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.
Item 9.01. Financial Statements and Exhibits.
The exhibits referenced below shall be treated as “furnished” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.
(d)Exhibits.
Exhibit 99.1 – News release of Huntington Bancshares Incorporated, dated January 22, 2026.
Exhibit 99.2 – Quarterly Financial Supplement, December 31, 2025.
EXHIBIT INDEX
| Exhibit No. | Description | ||||
| Exhibit 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. | ||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| HUNTINGTON BANCSHARES INCORPORATED | |||||||||||||||||
| Date: | January 22, 2026 | By: | /s/ Zachary Wasserman | ||||||||||||||
| Zachary Wasserman | |||||||||||||||||
| Chief Financial Officer | |||||||||||||||||
Exhibit 99.1
January 22, 2026
Analysts: Eric Wasserstrom ([email protected]), 614.480.5676
Media: Tracy Pesho ([email protected]), 216.276.3301
Huntington Bancshares Incorporated Reports 2025 Fourth-Quarter Earnings
Huntington Delivers Outstanding 2025 Results, with Accelerating Organic Growth, Expanded Margin, and Excellent Credit Performance; Strategic Partnerships Springboard Future Organic Growth
2025 Fourth-Quarter Highlights:
•Earnings per common share (EPS) for the quarter was $0.30, lower by $0.11 from the prior quarter, and $0.04 lower than the year-ago quarter. Excluding the after-tax impact of Notable Items as detailed in Table 2, adjusted EPS, a non-GAAP measure, was $0.37, lower by $0.03 from the prior quarter and higher by $0.03 from the year-ago quarter.
•Closed the partnership with Veritex Holdings, Inc. ("Veritex"); completed integration on January 19, 2026.
•Net interest income increased $86 million, or 6%, from the prior quarter, and $197 million, or 14%, from the year-ago quarter.
•Noninterest income decreased $46 million, or 7%, from the prior quarter, to $582 million. From the year-ago quarter, noninterest income increased $23 million, or 4%. Excluding the prior quarter gain on the sale of a portion of our corporate trust and custody business, the year-ago quarter impact from securities repositioning, and the impact of credit risk transfer transactions, noninterest income decreased $21 million, or 3%, from the prior quarter and increased $5 million, or 1%, from the year-ago quarter.
•Average total loans and leases increased $10.7 billion, or 8%, from the prior quarter to $146.6 billion and increased $18.4 billion, or 14%, from the year-ago quarter, inclusive of the impact of the Veritex acquisition.
◦Average commercial loans grew $9.5 billion, or 12%, from the prior quarter and $15.3 billion, or 21%, from the year-ago quarter.
◦Average consumer loans grew $1.1 billion, or 2%, from the prior quarter and $3.1 billion, or 6%, from the year-ago quarter.
•Average total deposits increased $8.3 billion, or 5%, from the prior quarter and $13.8 billion, or 9%, from the year-ago quarter, inclusive of the impact of the Veritex acquisition.
•Net charge-offs of 0.24% of average total loans and leases for the quarter, 2 basis points higher than the prior quarter and 6 basis points lower than the year ago quarter.
•Nonperforming asset ratio of 0.63% at quarter end, 3 basis points higher than the prior quarter.
•Allowance for credit losses (ACL) of $2.7 billion, or 1.83% of total loans and leases, at quarter end, an increase of $181 million from the prior quarter.
•Common Equity Tier 1 (CET1) risk-based capital ratio was 10.4%, at December 31, 2025, compared to 10.6% in the prior quarter. Adjusted Common Equity Tier 1, including the impact of AOCI excluding cash flow hedges, was 9.2%, unchanged from the prior quarter.
•Tangible common equity (TCE) ratio of 7.1%, up from 6.8% in the prior quarter and 6.1% from a year ago.
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•Tangible book value per share of $9.89, up $0.35, or 4%, from the prior quarter and up $1.56, or 19%, from a year ago.
•Announced the partnership with Cadence Bank on October 27, 2025; closing anticipated on February 1, 2026 following recent regulatory and shareholder approvals.
COLUMBUS, Ohio – Huntington Bancshares Incorporated (Nasdaq: HBAN) reported net income for the 2025 fourth quarter of $519 million, or $0.30 per common share, a decrease of $110 million, or 17%, from the prior quarter, and a decrease of $11 million, or 2%, from the year-ago quarter, inclusive of $130 million of pre-tax notable items in the 2025 fourth quarter, primarily due to acquisition-related expenses.
Return on average assets was 0.93%, return on average common equity was 8.9%, and return on average tangible common equity (ROTCE) was 12.7%.
CEO Commentary:
“Huntington delivered a strong fourth quarter, capping off an outstanding 2025, powered by focused execution and broad‑based organic growth,” said Steve Steinour, chairman, president, and CEO. “We advanced our strategy by expanding national commercial verticals, strengthening payments, wealth, and capital markets capabilities, growing our consumer and regional banking businesses, and accelerating our Carolinas buildout. And our credit quality remains outstanding, consistent with our aggregate moderate-to-low risk profile.”
“Today, Huntington is a leading super‑regional bank with meaningful local presence across high‑growth markets, national commercial banking businesses, and a clear path to continued peer‑leading performance. The strategic investments we’ve made over the past several years position us to accelerate our flywheel of value creation.”
“Our recent partnerships with Veritex and Cadence will springboard our growth across Texas and the South, and both integrations are proceeding smoothly. We successfully migrated Veritex to our systems last weekend, and we expect Cadence to close February 1.”
“Looking ahead, our focus for 2026 remains on driving strong organic growth. We entered the year with excellent momentum and our backlogs and pipeline are robust. We are very well positioned to deliver exceptional profitability and long‑term value for our customers, colleagues, and shareholders.”
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Table 1 – Earnings Performance Summary
| 2025 | 2024 | ||||||||||||||||||||||||||||
| (in millions, except per share data) | Fourth | Third | Second | First | Fourth | ||||||||||||||||||||||||
| Quarter | Quarter | Quarter | Quarter | Quarter | |||||||||||||||||||||||||
| Net income attributable to Huntington | $ | 519 | $ | 629 | $ | 536 | $ | 527 | $ | 530 | |||||||||||||||||||
| Diluted earnings per common share | 0.30 | 0.41 | 0.34 | 0.34 | 0.34 | ||||||||||||||||||||||||
| Return on average assets | 0.93 | % | 1.19 | % | 1.04 | % | 1.04 | % | 1.05 | % | |||||||||||||||||||
| Return on average common equity | 8.9 | 12.4 | 11.0 | 11.3 | 11.0 | ||||||||||||||||||||||||
| Return on average tangible common equity | 12.7 | 17.8 | 16.1 | 16.7 | 16.4 | ||||||||||||||||||||||||
| Net interest margin | 3.15 | 3.13 | 3.11 | 3.10 | 3.03 | ||||||||||||||||||||||||
| Efficiency ratio | 64.2 | 57.4 | 59.0 | 58.9 | 58.6 | ||||||||||||||||||||||||
| Tangible book value per common share | $ | 9.89 | $ | 9.54 | $ | 9.13 | $ | 8.80 | $ | 8.33 | |||||||||||||||||||
| Cash dividends declared per common share | 0.155 | 0.155 | 0.155 | 0.155 | 0.155 | ||||||||||||||||||||||||
| Average earning assets | $ | 202,511 | $ | 192,732 | $ | 191,092 | $ | 188,299 | $ | 185,222 | |||||||||||||||||||
| Average loans and leases | 146,607 | 135,944 | 133,171 | 130,862 | 128,158 | ||||||||||||||||||||||||
Average total deposits | 173,156 | 164,812 | 163,429 | 161,600 | 159,405 | ||||||||||||||||||||||||
| Tangible common equity / tangible assets ratio | 7.1 | % | 6.8 | % | 6.6 | % | 6.3 | % | 6.1 | % | |||||||||||||||||||
Common equity Tier 1 risk-based capital ratio (1) | 10.4 | 10.6 | 10.5 | 10.6 | 10.5 | ||||||||||||||||||||||||
| NCOs as a % of average loans and leases | 0.24 | % | 0.22 | % | 0.20 | % | 0.26 | % | 0.30 | % | |||||||||||||||||||
| NAL ratio | 0.62 | 0.59 | 0.62 | 0.56 | 0.60 | ||||||||||||||||||||||||
| ACL as a % of total loans and leases | 1.83 | 1.86 | 1.86 | 1.87 | 1.88 | ||||||||||||||||||||||||
(1)December 31, 2025 figure is estimated.
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Table 2 lists certain items that we believe are important to understanding corporate performance and trends (see Basis of Presentation).
Table 2 – Notable Items Influencing Earnings
Pretax Impact (1) | After-tax Impact (1) | ||||||||||||||||||||||
| ($ in millions, except per share) | Amount | Net Income | EPS (2) | ||||||||||||||||||||
| Three Months Ended December 31, 2025 | |||||||||||||||||||||||
Net income and EPS (GAAP) | $ | 519 | $ | 0.30 | |||||||||||||||||||
| • | Acquisition-related expenses | $ | (154) | (118) | (0.08) | ||||||||||||||||||
| • | FDIC Deposit Insurance Fund (DIF) special assessment (3) | 24 | 19 | 0.01 | |||||||||||||||||||
Adjusted net income and EPS (non-GAAP) | $ | 618 | $ | 0.37 | |||||||||||||||||||
Three Months Ended September 30, 2025 | |||||||||||||||||||||||
Net income and EPS (GAAP) | $ | 629 | $ | 0.41 | |||||||||||||||||||
| • | Acquisition-related expenses | $ | (14) | (11) | (0.01) | ||||||||||||||||||
| • | FDIC DIF special assessment (3) | 6 | 5 | 0.01 | |||||||||||||||||||
| • | Gain on sale of a portion of a corporate trust and custody business | 24 | 19 | 0.01 | |||||||||||||||||||
Adjusted net income and EPS (non-GAAP) | $ | 616 | $ | 0.40 | |||||||||||||||||||
Three Months Ended December 31, 2024 | |||||||||||||||||||||||
Net income and EPS (GAAP) | $ | 530 | $ | 0.34 | |||||||||||||||||||
| • | FDIC DIF special assessment (3) | $ | 3 | 2 | — | ||||||||||||||||||
Adjusted net income and EPS (non-GAAP) | $ | 528 | $ | 0.34 | |||||||||||||||||||
(1)Favorable (unfavorable) impact.
(2)EPS reflected on a fully diluted basis.
(3)Represents the updated estimates on the uninsured deposit losses and recoverable assets related to the FDIC DIF special assessment. These amounts are recorded in deposit and other insurance expense.
Net Interest Income, Net Interest Margin, and Average Balance Sheet
Table 3 – Net Interest Income and Total Revenue
| 2025 | 2024 | ||||||||||||||||||||||||||||||||||||||||
| ($ in millions) | Fourth | Third | Second | First | Fourth | Change (%) | |||||||||||||||||||||||||||||||||||
| Quarter | Quarter | Quarter | Quarter | Quarter | LQ | YOY | |||||||||||||||||||||||||||||||||||
| Net interest income | $ | 1,592 | $ | 1,506 | $ | 1,467 | $ | 1,426 | $ | 1,395 | 6 | % | 14 | % | |||||||||||||||||||||||||||
| FTE adjustment | 17 | 17 | 16 | 15 | 14 | — | 21 | ||||||||||||||||||||||||||||||||||
Net interest income - FTE (1) | 1,609 | 1,523 | 1,483 | 1,441 | 1,409 | 6 | 14 | ||||||||||||||||||||||||||||||||||
| Noninterest income | 582 | 628 | 471 | 494 | 559 | (7) | 4 | ||||||||||||||||||||||||||||||||||
Total revenue - FTE (1) | $ | 2,191 | $ | 2,151 | $ | 1,954 | $ | 1,935 | $ | 1,968 | 2 | % | 11 | % | |||||||||||||||||||||||||||
(1)Represents a non-GAAP measure.
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Table 4 – Net Interest Margin Summary
| 2025 | 2024 | ||||||||||||||||||||||||||||||||||||||||
| Fourth | Third | Second | First | Fourth | Change (bp) | ||||||||||||||||||||||||||||||||||||
Yield / Cost (1) | Quarter | Quarter | Quarter | Quarter | Quarter | LQ | YOY | ||||||||||||||||||||||||||||||||||
| Total earning assets | 5.25 | % | 5.39 | % | 5.40 | % | 5.39 | % | 5.42 | % | (14) | (17) | |||||||||||||||||||||||||||||
| Total loans and leases | 5.84 | 5.96 | 5.91 | 5.87 | 5.89 | (12) | (5) | ||||||||||||||||||||||||||||||||||
| Total securities | 3.46 | 3.72 | 3.95 | 4.01 | 4.10 | (26) | (64) | ||||||||||||||||||||||||||||||||||
| Total interest-bearing liabilities | 2.65 | 2.81 | 2.85 | 2.86 | 3.01 | (16) | (36) | ||||||||||||||||||||||||||||||||||
| Total interest-bearing deposits | 2.28 | 2.43 | 2.46 | 2.48 | 2.65 | (15) | (37) | ||||||||||||||||||||||||||||||||||
| Net interest rate spread | 2.60 | 2.58 | 2.55 | 2.53 | 2.41 | 2 | 19 | ||||||||||||||||||||||||||||||||||
| Impact of noninterest-bearing funds on margin | 0.55 | 0.55 | 0.56 | 0.57 | 0.62 | — | (7) | ||||||||||||||||||||||||||||||||||
| Net interest margin | 3.15 | % | 3.13 | % | 3.11 | % | 3.10 | % | 3.03 | % | 2 | 12 | |||||||||||||||||||||||||||||
(1)Calculated on a fully-taxable equivalent (FTE) basis, which represents a non-GAAP measure, assuming a 21% tax rate. See Page 9 of Quarterly Financial Supplement for additional detail.
Fully-taxable equivalent (FTE) net interest income for the 2025 fourth quarter increased $200 million, or 14%, from the 2024 fourth quarter. The results primarily reflect a 12 basis point increase in the net interest margin (NIM) to 3.15% and a $17.3 billion, or 9%, increase in average earning assets, partially offset by a $13.5 billion, or 9%, increase in average interest-bearing liabilities. The 12 basis point increase in NIM reflected a decrease in funding costs, partially offset by lower yields on interest earning assets. The increases in average earning assets and interest-bearing liabilities were attributable to a combination of organic growth and the Veritex acquisition.
Compared to the 2025 third quarter, FTE net interest income increased $86 million, or 6%, driven by an increase in average earning assets of $9.8 billion, or 5%, and an increase in NIM of 2 basis points to 3.15%, partially offset by an increase in average interest-bearing liabilities of $6.1 billion, or 4%. The 2 basis point increase to NIM reflected a decrease in funding costs, partially offset by lower yields on interest earnings assets and net hedging activity. The increases in average earning assets and interest-bearing liabilities were largely attributable to the Veritex acquisition.
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Table 5 – Average Earning Assets
| 2025 | 2024 | ||||||||||||||||||||||||||||||||||||||||
| ($ in billions) | Fourth | Third | Second | First | Fourth | Change (%) | |||||||||||||||||||||||||||||||||||
| Quarter | Quarter | Quarter | Quarter | Quarter | LQ | YOY | |||||||||||||||||||||||||||||||||||
| Commercial and industrial | $ | 67.4 | $ | 61.4 | $ | 59.4 | $ | 57.6 | $ | 55.1 | 10 | % | 22 | % | |||||||||||||||||||||||||||
| Commercial real estate | 14.3 | 10.7 | 10.8 | 11.0 | 11.3 | 33 | 27 | ||||||||||||||||||||||||||||||||||
| Lease financing | 5.5 | 5.5 | 5.5 | 5.5 | 5.4 | — | 1 | ||||||||||||||||||||||||||||||||||
| Total commercial | 87.1 | 77.6 | 75.6 | 74.1 | 71.8 | 12 | 21 | ||||||||||||||||||||||||||||||||||
| Residential mortgage | 25.1 | 24.5 | 24.4 | 24.3 | 24.1 | 2 | 4 | ||||||||||||||||||||||||||||||||||
| Automobile | 16.1 | 15.7 | 15.1 | 14.7 | 14.4 | 3 | 12 | ||||||||||||||||||||||||||||||||||
| Home equity | 10.4 | 10.3 | 10.2 | 10.1 | 10.1 | 1 | 2 | ||||||||||||||||||||||||||||||||||
RV and marine | 5.7 | 5.9 | 5.9 | 6.0 | 6.0 | (2) | (4) | ||||||||||||||||||||||||||||||||||
| Other consumer | 2.1 | 2.0 | 1.9 | 1.8 | 1.7 | 7 | 25 | ||||||||||||||||||||||||||||||||||
| Total consumer | 59.5 | 58.3 | 57.5 | 56.8 | 56.3 | 2 | 6 | ||||||||||||||||||||||||||||||||||
| Total loans and leases | 146.6 | 135.9 | 133.2 | 130.9 | 128.2 | 8 | 14 | ||||||||||||||||||||||||||||||||||
| Total securities | 42.7 | 44.1 | 44.9 | 45.2 | 45.4 | (3) | (6) | ||||||||||||||||||||||||||||||||||
Interest-earning deposits with banks | 12.2 | 11.8 | 12.3 | 11.6 | 11.0 | 3 | 11 | ||||||||||||||||||||||||||||||||||
| Other earning assets | 0.9 | 0.9 | 0.7 | 0.6 | 0.7 | 4 | 37 | ||||||||||||||||||||||||||||||||||
| Total earning assets | $ | 202.5 | $ | 192.7 | $ | 191.1 | $ | 188.3 | $ | 185.2 | 5 | % | 9 | % | |||||||||||||||||||||||||||
See Page 7 of Quarterly Financial Supplement for additional detail.
Average earning assets for the 2025 fourth quarter include the impact of the Veritex acquisition which was completed on October 20, 2025. The Veritex acquisition added $9.3 billion of loans as of the acquisition date, including $4.0 billion of commercial and industrial loans, $4.2 billion of commercial real estate loans, and $1.1 billion of residential mortgage loans.
Average earning assets for the 2025 fourth quarter increased $17.3 billion, or 9%, from the year-ago quarter, primarily reflecting a $18.4 billion, or 14%, increase in average total loans and leases and a $1.2 billion, or 11%, increase in interest-earning deposits with banks, partially offset by a $2.6 billion, or 6%, decrease in total securities. Average loan and lease balance increases were led by growth in average commercial loans of $15.3 billion, or 21%, primarily driven by a $12.2 billion, or 22%, increase in average commercial and industrial loans and a $3.0 billion, or 27%, increase in average commercial real estate loans. Additionally, average consumer loans increased by $3.1 billion, or 6%, primarily driven by a $1.8 billion, or 12%, increase in average automobile loans and a $1.0 billion, or 4% increase in average residential mortgage loans.
Compared to the 2025 third quarter, average earning assets increased $9.8 billion, or 5%, primarily reflecting a $10.7 billion, or 8%, increase in average total loans and leases, partially offset by a $1.3 billion, or 3%, decrease in average total securities. Average loan and lease balance increases were led by higher average commercial loan balances of $9.5 billion, or 12%, primarily driven by a $5.9 billion, or 10%, increase in average commercial and industrial loans and a $3.6 billion, or 33%, increase in average commercial real estate loans. Average consumer loans increased $1.1 billion, or 2%, primarily due to higher average residential mortgage and automobile loans.
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Table 6 – Liabilities
| 2025 | 2024 | ||||||||||||||||||||||||||||||||||||||||
| Fourth | Third | Second | First | Fourth | Change (%) | ||||||||||||||||||||||||||||||||||||
| ($ in billions) | Quarter | Quarter | Quarter | Quarter | Quarter | LQ | YOY | ||||||||||||||||||||||||||||||||||
| Average balances: | |||||||||||||||||||||||||||||||||||||||||
| Demand deposits - noninterest-bearing | $ | 30.8 | $ | 29.0 | $ | 29.2 | $ | 28.9 | $ | 29.6 | 6 | % | 4 | % | |||||||||||||||||||||||||||
| Demand deposits - interest-bearing | 47.2 | 46.0 | 44.7 | 43.6 | 41.8 | 3 | 13 | ||||||||||||||||||||||||||||||||||
| Total demand deposits | 78.0 | 75.0 | 73.9 | 72.5 | 71.4 | 4 | 9 | ||||||||||||||||||||||||||||||||||
| Money market deposits | 65.2 | 62.0 | 61.1 | 60.2 | 58.3 | 5 | 12 | ||||||||||||||||||||||||||||||||||
| Savings deposits | 15.4 | 15.0 | 15.1 | 14.9 | 14.6 | 2 | 5 | ||||||||||||||||||||||||||||||||||
| Time deposits | 14.7 | 12.8 | 13.3 | 14.0 | 15.1 | 15 | (3) | ||||||||||||||||||||||||||||||||||
| Total deposits | $ | 173.2 | $ | 164.8 | $ | 163.4 | $ | 161.6 | $ | 159.4 | 5 | % | 9 | % | |||||||||||||||||||||||||||
| Short-term borrowings | $ | 0.9 | $ | 1.3 | $ | 1.3 | $ | 1.4 | $ | 1.2 | (29) | % | (28) | % | |||||||||||||||||||||||||||
| Long-term debt | 17.3 | 17.4 | 17.8 | 16.9 | 16.1 | (1) | 8 | ||||||||||||||||||||||||||||||||||
| Total debt | $ | 18.2 | $ | 18.7 | $ | 19.1 | $ | 18.3 | $ | 17.3 | (3) | % | 5 | % | |||||||||||||||||||||||||||
| Total interest-bearing liabilities | $ | 160.6 | $ | 154.5 | $ | 153.2 | $ | 151.0 | $ | 147.2 | 4 | % | 9 | % | |||||||||||||||||||||||||||
Total liabilities | 196.3 | 188.3 | 187.3 | 185.0 | 181.8 | 4 | 8 | ||||||||||||||||||||||||||||||||||
See Page 7 of Quarterly Financial Supplement for additional detail.
Average liabilities for the 2025 fourth quarter included the impact of $10.5 billion of deposits added as result of the Veritex acquisition, including $2.4 million of noninterest-bearing deposits and $8.1 billion of interest-bearing deposits largely comprised of money market account balances. Following completion of the acquisition, certain higher-cost Veritex deposits were allowed to run-off in order to optimize Huntington's funding mix.
Average total liabilities for the 2025 fourth quarter increased $14.5 billion, or 8%, from the year-ago quarter, driven by increases in average total deposits of $13.8 billion, or 9%, and in average total debt of $902 million, or 5%.
Compared to the 2025 third quarter, average total liabilities increased $8.0 billion, driven by an increase in average total deposits of $8.3 billion, or 5%.
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Noninterest Income
Table 7 – Noninterest Income
| 2025 | 2024 | ||||||||||||||||||||||||||||||||||||||||
| Fourth | Third | Second | First | Fourth | Change (%) | ||||||||||||||||||||||||||||||||||||
| ($ in millions) | Quarter | Quarter | Quarter | Quarter | Quarter | LQ | YOY | ||||||||||||||||||||||||||||||||||
| Payments and cash management revenue | $ | 170 | $ | 174 | $ | 165 | $ | 155 | $ | 162 | (2) | % | 5 | % | |||||||||||||||||||||||||||
| Wealth and asset management revenue | 102 | 104 | 102 | 101 | 93 | (2) | 10 | ||||||||||||||||||||||||||||||||||
| Customer deposit and loan fees | 107 | 102 | 95 | 86 | 88 | 5 | 22 | ||||||||||||||||||||||||||||||||||
| Capital markets and advisory fees | 101 | 94 | 84 | 67 | 120 | 7 | (16) | ||||||||||||||||||||||||||||||||||
| Mortgage banking income | 39 | 43 | 28 | 31 | 31 | (9) | 26 | ||||||||||||||||||||||||||||||||||
| Insurance income | 22 | 20 | 19 | 20 | 22 | 10 | — | ||||||||||||||||||||||||||||||||||
| Leasing revenue | 19 | 23 | 10 | 14 | 19 | (17) | — | ||||||||||||||||||||||||||||||||||
| Net gains (losses) on sales of securities | — | — | (58) | — | (21) | — | NM | ||||||||||||||||||||||||||||||||||
| Other noninterest income | 22 | 68 | 26 | 20 | 45 | (68) | (51) | ||||||||||||||||||||||||||||||||||
| Total noninterest income | $ | 582 | $ | 628 | $ | 471 | $ | 494 | $ | 559 | (7) | % | 4 | % | |||||||||||||||||||||||||||
| Impact of Notable Item: | |||||||||||||||||||||||||||||||||||||||||
Gain on sale of a portion of corporate trust and custody business (other noninterest income) | $ | — | $ | 24 | $ | — | $ | — | $ | — | NM | NM | |||||||||||||||||||||||||||||
| Total adjusted noninterest income (Non-GAAP) | $ | 582 | $ | 604 | $ | 471 | $ | 494 | $ | 559 | (4) | % | 4 | % | |||||||||||||||||||||||||||
| Additional information: | |||||||||||||||||||||||||||||||||||||||||
| Impact of mark-to-market and premiums from credit risk transfer transactions (included in other noninterest income) | $ | (3) | $ | (2) | $ | (5) | $ | (3) | $ | — | 50% | NM | |||||||||||||||||||||||||||||
NM - Not Meaningful
Total noninterest income for the 2025 fourth quarter increased $23 million, or 4%, from the year-ago quarter. The 2025 fourth quarter included $3 million of contra revenue related to premium costs and mark-to-market associated with credit risk transfer transactions, while the 2024 fourth quarter included a $21 million loss on the sale of investment securities. Excluding the impact from these items, noninterest income increased $5 million, or 1%. Customer deposit and loan fees increased $19 million, or 22%, primarily due to higher loan commitment fees. Wealth and asset management revenue increased $9 million, or 10%, largely due to higher investment management income. Payments and cash management revenue increased $8 million, or 5%, driven by higher interchange and cash management revenues. Mortgage banking income increased $8 million, or 26%, largely due to an improvement in net risk management. Partially offsetting these increases, other noninterest income decreased $23 million, or 51%, largely due to a decrease in revenue from tax credit investments, and capital markets and advisory fees decreased $19 million, or 16%, primarily due to lower advisory fees.
Total noninterest income decreased $46 million, or 7%, compared to the 2025 third quarter. The 2025 fourth quarter included $3 million of contra revenue related to the credit risk transfer transactions, while the 2025 third quarter included a $24 million gain on the sale of a portion of our corporate trust and custody business and $2 million of contra revenue related to the credit risk transfer transactions. Excluding the impact from these items, noninterest income decreased $21 million, or 3%. Other noninterest income decreased $22 million, or 50%, largely due to a decrease in revenue from tax credit investments.
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Noninterest Expense
Table 8 – Noninterest Expense
| 2025 | 2024 | ||||||||||||||||||||||||||||||||||||||||
| Fourth | Third | Second | First | Fourth | Change (%) | ||||||||||||||||||||||||||||||||||||
| ($ in millions) | Quarter | Quarter | Quarter | Quarter | Quarter | LQ | YOY | ||||||||||||||||||||||||||||||||||
| Personnel costs | $ | 845 | $ | 757 | $ | 722 | $ | 671 | $ | 715 | 12 | % | 18 | % | |||||||||||||||||||||||||||
| Outside data processing and other services | 222 | 198 | 182 | 170 | 167 | 12 | 33 | ||||||||||||||||||||||||||||||||||
| Equipment | 67 | 66 | 68 | 67 | 70 | 2 | (4) | ||||||||||||||||||||||||||||||||||
| Net occupancy | 56 | 57 | 54 | 65 | 56 | (2) | — | ||||||||||||||||||||||||||||||||||
| Professional services | 80 | 31 | 22 | 22 | 27 | 158 | 196 | ||||||||||||||||||||||||||||||||||
| Marketing | 36 | 34 | 28 | 29 | 28 | 6 | 29 | ||||||||||||||||||||||||||||||||||
| Deposit and other insurance expense | (1) | 9 | 20 | 37 | 20 | (111) | (105) | ||||||||||||||||||||||||||||||||||
| Amortization of intangibles | 13 | 11 | 11 | 11 | 12 | 18 | 8 | ||||||||||||||||||||||||||||||||||
| Lease financing equipment depreciation | 3 | 4 | 2 | 4 | 3 | (25) | — | ||||||||||||||||||||||||||||||||||
| Other noninterest expense | 99 | 79 | 88 | 76 | 80 | 25 | 24 | ||||||||||||||||||||||||||||||||||
| Total noninterest expense | $ | 1,420 | $ | 1,246 | $ | 1,197 | $ | 1,152 | $ | 1,178 | 14 | % | 21 | % | |||||||||||||||||||||||||||
| (in thousands) | |||||||||||||||||||||||||||||||||||||||||
| Average full-time equivalent employees | 20.9 | 20.2 | 20.2 | 20.1 | 20.0 | 3 | % | 5 | % | ||||||||||||||||||||||||||||||||
Table 9 - Impact of Notable Items
| 2025 | 2024 | ||||||||||||||||||||||||||||
| Fourth | Third | Second | First | Fourth | |||||||||||||||||||||||||
| ($ in millions) | Quarter | Quarter | Quarter | Quarter | Quarter | ||||||||||||||||||||||||
| Personnel costs | $ | 50 | $ | — | $ | 6 | $ | — | $ | — | |||||||||||||||||||
| Outside data processing and other services | 29 | 3 | — | — | — | ||||||||||||||||||||||||
| Equipment | 2 | 1 | — | — | — | ||||||||||||||||||||||||
| Professional services | 57 | 9 | — | — | — | ||||||||||||||||||||||||
| Marketing | 3 | — | — | — | — | ||||||||||||||||||||||||
| Deposit and other insurance expense | (23) | (6) | (3) | 3 | (3) | ||||||||||||||||||||||||
| Other noninterest expense | 12 | 1 | — | — | — | ||||||||||||||||||||||||
| Total noninterest expense | $ | 130 | $ | 8 | $ | 3 | $ | 3 | $ | (3) | |||||||||||||||||||
Notable items in the fourth quarter of 2025 include $154 million of acquisition-related expenses primarily included in personnel costs, outside data processing and other services, and professional services, as well as a $24 million benefit from ongoing adjustments related to the FDIC DIF special assessment.
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Table 10 - Adjusted Noninterest Expense (Non-GAAP)
| 2025 | 2024 | ||||||||||||||||||||||||||||||||||||||||
| Fourth | Third | Second | First | Fourth | Change (%) | ||||||||||||||||||||||||||||||||||||
| ($ in millions) | Quarter | Quarter | Quarter | Quarter | Quarter | LQ | YOY | ||||||||||||||||||||||||||||||||||
| Personnel costs | $ | 795 | $ | 757 | $ | 716 | $ | 671 | $ | 715 | 5 | % | 11 | % | |||||||||||||||||||||||||||
| Outside data processing and other services | 193 | 195 | 182 | 170 | 167 | (1) | 16 | ||||||||||||||||||||||||||||||||||
| Equipment | 65 | 65 | 68 | 67 | 70 | — | (7) | ||||||||||||||||||||||||||||||||||
| Net occupancy | 56 | 57 | 54 | 65 | 56 | (2) | — | ||||||||||||||||||||||||||||||||||
| Professional services | 23 | 22 | 22 | 22 | 27 | 5 | (15) | ||||||||||||||||||||||||||||||||||
| Marketing | 33 | 34 | 28 | 29 | 28 | (3) | 18 | ||||||||||||||||||||||||||||||||||
| Deposit and other insurance expense | 22 | 15 | 23 | 34 | 23 | 47 | (4) | ||||||||||||||||||||||||||||||||||
| Amortization of intangibles | 13 | 11 | 11 | 11 | 12 | 18 | 8 | ||||||||||||||||||||||||||||||||||
| Lease financing equipment depreciation | 3 | 4 | 2 | 4 | 3 | (25) | 0 | ||||||||||||||||||||||||||||||||||
| Other noninterest expense | 87 | 78 | 88 | 76 | 80 | 12 | 9 | ||||||||||||||||||||||||||||||||||
| Total adjusted noninterest expense | $ | 1,290 | $ | 1,238 | $ | 1,194 | $ | 1,149 | $ | 1,181 | 4 | % | 9 | % | |||||||||||||||||||||||||||
Reported total noninterest expense for the 2025 fourth quarter increased $242 million, or 21%, from the year-ago quarter. Excluding the impact from Notable Items, noninterest expense increased $109 million, or 9%, primarily driven by higher personnel costs of $80 million, or 11%, due to higher salary and incentive compensation expense and the addition of Veritex employees, and an increase in outside data processing and other services of $26 million, or 16%, primarily reflecting higher technology and data expense.
Reported total noninterest expense increased $174 million, or 14%, from the 2025 third quarter. Excluding the impact from Notable Items, noninterest expense increased $52 million, or 4%, primarily driven by higher personnel costs of $38 million, or 5%, due primarily to the addition of Veritex employees and higher salary and medical expense, and an increase in other noninterest expense of $9 million, or 12%, primarily due to an $11 million gain recognized from the extinguishment of debt in the 2025 third quarter.
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Credit Quality
Table 11 – Credit Quality Metrics
| 2025 | 2024 | ||||||||||||||||||||||||||||
| ($ in millions) | December 31, | September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||||||||
| Total nonaccrual loans and leases | $ | 931 | $ | 808 | $ | 842 | $ | 748 | $ | 783 | |||||||||||||||||||
| Total other real estate, net | 13 | 10 | 10 | 8 | 8 | ||||||||||||||||||||||||
Other NPAs (1) | 1 | 3 | — | 48 | 31 | ||||||||||||||||||||||||
| Total nonperforming assets | 945 | 821 | 852 | 804 | 822 | ||||||||||||||||||||||||
| Accruing loans and leases past due 90+ days | 282 | 234 | 241 | 220 | 239 | ||||||||||||||||||||||||
| NPAs + accruing loans & leases past due 90+ days | $ | 1,227 | $ | 1,055 | $ | 1,093 | $ | 1,024 | $ | 1,061 | |||||||||||||||||||
NAL ratio (2) | 0.62 | % | 0.59 | % | 0.62 | % | 0.56 | % | 0.60 | % | |||||||||||||||||||
NPA ratio (3) | 0.63 | 0.60 | 0.63 | 0.61 | 0.63 | ||||||||||||||||||||||||
| (NPAs+90 days)/(Loans+OREO) | 0.82 | 0.76 | 0.81 | 0.77 | 0.82 | ||||||||||||||||||||||||
| Provision for credit losses | $ | 123 | $ | 122 | $ | 103 | $ | 115 | $ | 107 | |||||||||||||||||||
| Net charge-offs | 89 | 75 | 66 | 86 | 97 | ||||||||||||||||||||||||
| Net charge-offs / Average total loans and leases | 0.24 | % | 0.22 | % | 0.20 | % | 0.26 | % | 0.30 | % | |||||||||||||||||||
| Allowance for loans and lease losses (ALLL) | $ | 2,537 | $ | 2,374 | $ | 2,331 | $ | 2,263 | $ | 2,244 | |||||||||||||||||||
| Allowance for unfunded lending commitments | 206 | 188 | 184 | 215 | 202 | ||||||||||||||||||||||||
| Allowance for credit losses (ACL) | $ | 2,743 | $ | 2,562 | $ | 2,515 | $ | 2,478 | $ | 2,446 | |||||||||||||||||||
| ALLL as a % of: | |||||||||||||||||||||||||||||
| Total loans and leases | 1.70 | % | 1.72 | % | 1.73 | % | 1.71 | % | 1.73 | % | |||||||||||||||||||
| NALs | 272 | 294 | 277 | 302 | 286 | ||||||||||||||||||||||||
| NPAs | 269 | 289 | 274 | 281 | 273 | ||||||||||||||||||||||||
| ACL as a % of: | |||||||||||||||||||||||||||||
| Total loans and leases | 1.83 | % | 1.86 | % | 1.86 | % | 1.87 | % | 1.88 | % | |||||||||||||||||||
| NALs | 295 | 317 | 299 | 331 | 312 | ||||||||||||||||||||||||
| NPAs | 290 | 312 | 295 | 308 | 297 | ||||||||||||||||||||||||
(1)Other nonperforming assets include certain impaired securities and/or nonaccrual loans held-for-sale.
(2)Total NALs as a % of total loans and leases.
(3)Total NPAs as a % of sum of loans and leases, other real estate owned, and other NPAs.
See Pages 12-15 of Quarterly Financial Supplement for additional detail.
Nonperforming assets (NPAs) were $945 million, or 0.63%, of total loans and leases, OREO and other NPAs, compared to $822 million, or 0.63%, a year-ago. Nonaccrual loans and leases (NALs) were $931 million, or 0.62% of total loans and leases, compared to $783 million, or 0.60% of total loans and leases, a year-ago. The increase in NPAs was driven by increases in commercial and industrial and commercial real estate NALs, including NALs acquired as part of the Veritex transaction, partially offset by a decrease in other NPAs. On a linked quarter basis, NPAs increased $124 million, or 15%, and NALs increased $123 million, or 15%, with the increases primarily driven by an increase in commercial and industrial NALs, including NALs acquired as part of the Veritex transaction.
The provision for credit losses increased $16 million year-over-year and $1 million quarter-over-quarter to $123 million in the 2025 fourth quarter. Net charge-offs (NCOs) decreased $8 million year-over-year and increased $14 million quarter-over-quarter to $89 million. NCOs represented an annualized 0.24% of average loans and leases in the current quarter, down from 0.30% and up from 0.22% in the year-ago quarter and prior quarter, respectively. Commercial and consumer net charge-offs were 0.18% and 0.33%, respectively, for the 2025 fourth quarter.
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The allowance for loan and lease losses (ALLL) increased $293 million from the year-ago quarter to $2.5 billion, or 1.70% of total loans and leases. The allowance for credit losses (ACL) increased by $297 million from the year-ago quarter to $2.7 billion, or 1.83% of total loans and leases, 3 basis points lower than the prior quarter and 5 basis points lower than the year-ago quarter. The increases in the ALLL and ACL were primarily driven by loan growth over the past year, as well as an increase recorded for loans acquired in the Veritex transaction.
Capital
Table 12 – Capital Ratios
| 2025 | 2024 | |||||||||||||||||||||||||||||||
| ($ in billions) | December 31, | September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||||
| Tangible common equity / tangible assets ratio | 7.1 | % | 6.8 | % | 6.6 | % | 6.3 | % | 6.1 | % | ||||||||||||||||||||||
Common equity tier 1 risk-based capital ratio (1) | 10.4 | 10.6 | 10.5 | 10.6 | 10.5 | |||||||||||||||||||||||||||
Regulatory Tier 1 risk-based capital ratio (1) | 12.0 | 12.4 | 11.8 | 11.9 | 11.9 | |||||||||||||||||||||||||||
Regulatory Total risk-based capital ratio (1) | 14.2 | 14.7 | 14.1 | 14.3 | 14.3 | |||||||||||||||||||||||||||
Total risk-weighted assets (1) | $ | 166.7 | $ | 150.2 | $ | 148.6 | $ | 144.6 | $ | 143.7 | ||||||||||||||||||||||
(1)December 31, 2025 figures are estimated. The risk-based capital ratios reflect Huntington’s election to delay the impact of CECL on regulatory capital. As of December 31. 2025, September 30, 2025, June 30, 2025, and March 31, 2025, the impact of the CECL deferral was fully phased in, while 75% of the impact of the CECL deferral was phased in at December 31, 2024.
See Pages 16-17 of Quarterly Financial Supplement for additional detail.
The tangible common equity to tangible assets ratio was 7.1% at December 31, 2025, an increase from 6.8% at September 30, 2025, driven by an increase in tangible common equity from current period earnings, net of dividends, an improvement in accumulated other comprehensive income, and the net impact of the Veritex acquisition, partially offset by an increase in tangible assets. Common Equity Tier 1 (CET1) risk-based capital ratio was 10.4% at December 31, 2025, compared to 10.6% at September 30, 2025, with the decrease driven by higher risk-weighted assets during the quarter, partially offset by current period earnings, net of dividends.
Income Taxes
The provision for income taxes was $108 million in the 2025 fourth quarter compared to $133 million in the 2025 third quarter. The effective tax rate for the 2025 fourth quarter was 17.2%, compared to 17.4% for the 2025 third quarter.
Conference Call / Webcast Information
Huntington’s senior management will host an earnings conference call on January 22, 2026, at 9:00 a.m. (Eastern Time). The call may be accessed via a live Internet webcast at the Investor Relations section of Huntington’s website, www.huntington.com, or through a dial-in telephone number at (877) 407-8029; Conference ID #13757925. 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 January 30, 2026 at (877) 660-6853 or (201) 612-7415; conference ID #13757925.
Please see the 2025 Fourth 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.
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About Huntington
Huntington Bancshares Incorporated is a $225 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 1,000 branches in 14 states, with certain businesses operating in extended geographies. Visit Huntington.com for more information.
Caution Regarding Forward-Looking Statements
This communication may contain certain forward-looking statements, including, but not limited to, certain plans, expectations, goals, projections, and statements, which are not historical facts and are subject to numerous assumptions, risks, estimates, and uncertainties that are beyond the control of Huntington. Statements that do not describe historical or current facts, including statements about beliefs and expectations, are forward-looking statements. Forward-looking statements may be identified by words such as expect, anticipate, continue, believe, intend, estimate, plan, trend, objective, target, goal, or similar expressions, or future or conditional verbs such as will, may, might, should, would, could, or similar variations. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995.
While there is no assurance that any list of risks and uncertainties or risk factors is complete, below are certain factors which could cause actual results to differ materially from those contained or implied in the forward-looking statements or historical performance: changes in general economic, political, or industry conditions; deterioration in business and economic conditions, including persistent inflation, supply chain issues or labor shortages; instability in global economic conditions and geopolitical matters, as well as volatility in financial markets; changes in U.S. trade policies, including the imposition of tariffs and retaliatory tariffs; the impact of pandemics and other catastrophic events or disasters on the global economy and financial market conditions and our business, results of operations, and financial condition; the impacts related to or resulting from bank failures and other volatility, including potential increased regulatory requirements and costs, such as Federal Deposit Insurance Corporation ("FDIC") special assessments, long-term debt requirements and heightened capital requirements; potential impacts to macroeconomic conditions, which could affect the ability of depository institutions, including us, to attract and retain depositors and to borrow or raise capital; unexpected outflows of uninsured deposits which may require us to sell investment securities at a loss; changing interest rates which could negatively impact the value of our portfolio of investment securities; the loss of value of our investment portfolio which could negatively impact market perceptions of us and could lead to deposit withdrawals; the effects of social media on market perceptions of us and banks generally; cybersecurity risks; uncertainty in U.S. fiscal and monetary policy, including the interest rate policies of the Board of Governors of the Federal Reserve System ("Federal Reserve"); volatility and disruptions in global capital, foreign exchange, and credit markets; movements in interest rates; competitive pressures on product pricing and services; success, impact, and timing of our business strategies, including market acceptance of any new products or services including those implementing our “Fair Play” banking philosophy; changes in policies and standards for regulatory review of bank mergers; the nature, extent, timing, and results of governmental actions, examinations, reviews, reforms, regulations, and interpretations, including those related to the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Basel III regulatory capital reforms, as well as those involving the Securities and Exchange Commission ("SEC"), the Office of the Comptroller of the Currency, the Federal Reserve, the FDIC, the Consumer Financial Protection Bureau, and state-level regulators; delays in completing the proposed transaction involving Huntington and Cadence Bank ("Cadence"); the failure to satisfy any of the conditions to the transaction involving Huntington and Cadence on a timely basis or at all; the possibility that the anticipated benefits of recent or proposed acquisitions are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the companies or as a result of the strength of the economy and competitive factors in the areas where the companies do business; and other factors that may affect the future results of Huntington.
13
All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above. Forward-looking statements speak only as of the date they are made and are based on information available at that time. Huntington does not assume any obligation to update forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in circumstances or other factors affecting forward-looking statements that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws. If Huntington updates one or more forward-looking statements, no inference should be drawn that Huntington will make additional updates with respect to those or other forward-looking statements. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements. See also the other reports filed with the SEC, including discussions under the "Forward-Looking Statements" and "Risk Factors" of Huntington’s Annual Report on Form 10-K for the year ended December 31, 2024 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2025, June 30, 2025, and September 30, 2025, as filed with the SEC and available on its website at www.sec.gov.
Basis of Presentation
Use of Non-GAAP Financial Measures
This document contains GAAP financial measures and non-GAAP financial measures where management believes it to be helpful in understanding Huntington’s results of operations or financial position. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found in this document, the financial supplement, conference call slides, or the Form 8-K related to this document, all of which can be found in the Investor Relations section of Huntington’s website, http://www.huntington.com.
Annualized Data
Certain returns, yields, performance ratios, or quarterly growth rates are presented on an “annualized” basis. This is done for analytical and decision-making purposes to better discern underlying performance trends when compared to full-year or year-over-year amounts. For example, loan and deposit growth rates, as well as net charge-off percentages, are most often expressed in terms of an annual rate like 8%. As such, a 2% growth rate for a quarter would represent an annualized 8% growth rate.
Fully-Taxable Equivalent Interest Income and Net Interest Margin
Income from tax-exempt earning assets is increased by an amount equivalent to the taxes that would have been paid if this income had been taxable at statutory rates. This adjustment puts all earning assets, most notably tax-exempt municipal securities, and certain lease assets, on a common basis that facilitates comparison of results to results of competitors.
Rounding
Please note that items in this document may not add due to rounding.
Notable Items
From time to time, revenue, expenses, or taxes are impacted by items judged by management to be outside of ordinary banking activities and/or by items that, while they may be associated with ordinary banking activities, are so unusually large that their outsized impact is believed by management at that time to be infrequent or short term in nature. We refer to such items as “Notable Items.” Management believes it is useful to consider certain financial metrics with and without Notable Items, in order to enable a better understanding of company results, increase comparability of period-to-period results, and to evaluate and forecast those results.
14
Exhibit 99.2
HUNTINGTON BANCSHARES INCORPORATED
Quarterly Financial Supplement
December 31, 2025
Table of Contents
Notes:
The preparation of financial statement data in conformity with accounting principles generally accepted in the United States (GAAP) requires management to make estimates and assumptions that affect amounts reported. Actual results could differ from those estimates.
Non-GAAP Financial Measures
This document contains GAAP financial measures and non-GAAP financial measures where management believes it to be helpful in understanding our results of operations or financial position. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found herein.
Fully-Taxable Equivalent (FTE) Basis
Interest income, yields, and ratios on a FTE basis are considered non-GAAP financial measures. Management believes net interest income on a FTE basis provides a more accurate picture of the interest margin for comparison purposes. The FTE basis also allows management to assess the comparability of revenue arising from both taxable and tax-exempt sources. The FTE basis assumes a federal statutory tax rate of 21%.
Non-Regulatory Capital Ratios
In addition to capital ratios defined by banking regulators, the Company considers various other measures when evaluating capital utilization and adequacy, including:
•Tangible common equity to tangible assets,
•Tangible common equity to risk-weighted assets using Basel III definition, and
•Adjusted common equity tier 1 (CET1).
These non-regulatory capital ratios are viewed by management as useful additional methods of reflecting the level of capital available to withstand unexpected market conditions. Additionally, presentation of these ratios allows readers to compare the Company’s capitalization to other financial services companies. The tangible common equity ratios differ from capital ratios defined by banking regulators principally in that the numerator excludes preferred securities, the nature and extent of which varies among different financial services companies. The adjusted CET1 ratio differs from the defined CET1 regulatory capital ratio the Company is subject to by including the impact of accumulated other comprehensive income (loss) (AOCI) excluding cash flow hedges in the calculation of the capital ratio. These ratios are not defined in GAAP or federal banking regulations. As a result, these non-regulatory capital ratios disclosed by the Company may be considered non-GAAP financial measures.
Because there are no standardized definitions for these non-regulatory capital ratios, the Company’s calculation methods may differ from those used by other financial services companies. Also, there may be limits in the usefulness of these measures to investors. As a result, the Company encourages readers to consider the consolidated financial statements and other financial information contained in the related press release in their entirety, and not to rely on any single financial measure.
Huntington Bancshares Incorporated
Quarterly Key Statistics
(Unaudited)
| Three Months Ended | ||||||||||||||||||||||||||||||||
| (dollar amounts in millions, except per share data) | December 31, | September 30, | December 31, | Percent Changes vs. | ||||||||||||||||||||||||||||
| 2025 | 2025 | 2024 | 3Q25 | 4Q24 | ||||||||||||||||||||||||||||
Net interest income - FTE (1) | $ | 1,609 | $ | 1,523 | $ | 1,409 | 6 | % | 14 | % | ||||||||||||||||||||||
| FTE adjustment | (17) | (17) | (14) | — | (21) | |||||||||||||||||||||||||||
| Net interest income | 1,592 | 1,506 | 1,395 | 6 | 14 | |||||||||||||||||||||||||||
| Provision for credit losses | 123 | 122 | 107 | 1 | 15 | |||||||||||||||||||||||||||
| Noninterest income | 582 | 628 | 559 | (7) | 4 | |||||||||||||||||||||||||||
| Noninterest expense | 1,420 | 1,246 | 1,178 | 14 | 21 | |||||||||||||||||||||||||||
| Income before income taxes | 631 | 766 | 669 | (18) | (6) | |||||||||||||||||||||||||||
Provision for income taxes | 108 | 133 | 135 | (19) | (20) | |||||||||||||||||||||||||||
| Income after income taxes | 523 | 633 | 534 | (17) | (2) | |||||||||||||||||||||||||||
| Income attributable to non-controlling interest | 4 | 4 | 4 | — | — | |||||||||||||||||||||||||||
| Net income attributable to Huntington | 519 | 629 | 530 | (17) | (2) | |||||||||||||||||||||||||||
| Dividends on preferred shares | 43 | 27 | 27 | 59 | 59 | |||||||||||||||||||||||||||
| Impact of preferred stock redemptions | — | — | 5 | — | NM | |||||||||||||||||||||||||||
| Net income applicable to common shares | $ | 476 | $ | 602 | $ | 498 | (21) | % | (4) | % | ||||||||||||||||||||||
| Net income per common share - diluted | $ | 0.30 | $ | 0.41 | $ | 0.34 | (27) | % | (12) | % | ||||||||||||||||||||||
| Cash dividends declared per common share | 0.155 | 0.155 | 0.155 | — | — | |||||||||||||||||||||||||||
| Tangible book value per common share at end of period | 9.89 | 9.54 | 8.33 | 4 | 19 | |||||||||||||||||||||||||||
| Average common shares - basic | 1,544 | 1,459 | 1,453 | 6 | 6 | |||||||||||||||||||||||||||
| Average common shares - diluted | 1,570 | 1,485 | 1,481 | 6 | 6 | |||||||||||||||||||||||||||
| Ending common shares outstanding | 1,568 | 1,459 | 1,454 | 7 | 8 | |||||||||||||||||||||||||||
| Return on average assets | 0.93 | % | 1.19 | % | 1.05 | % | ||||||||||||||||||||||||||
| Return on average common shareholders’ equity | 8.9 | 12.4 | 11.0 | |||||||||||||||||||||||||||||
| Return on average tangible common shareholders’ equity (2) | 12.7 | 17.8 | 16.4 | |||||||||||||||||||||||||||||
| Net interest margin (1) | 3.15 | 3.13 | 3.03 | |||||||||||||||||||||||||||||
| Efficiency ratio (3) | 64.2 | 57.4 | 58.6 | |||||||||||||||||||||||||||||
| Effective tax rate | 17.2 | 17.4 | 20.1 | |||||||||||||||||||||||||||||
| Average total assets | $ | 220,230 | $ | 209,727 | $ | 201,815 | 5 | % | 9 | % | ||||||||||||||||||||||
| Average earning assets | 202,511 | 192,732 | 185,222 | 5 | 9 | |||||||||||||||||||||||||||
| Average loans and leases | 146,607 | 135,944 | 128,158 | 8 | 14 | |||||||||||||||||||||||||||
| Average total deposits | 173,156 | 164,812 | 159,405 | 5 | 9 | |||||||||||||||||||||||||||
| Average Huntington shareholders’ equity | 23,896 | 21,348 | 20,013 | 12 | 19 | |||||||||||||||||||||||||||
Average common shareholders' equity | 21,165 | 19,197 | 17,979 | 10 | 18 | |||||||||||||||||||||||||||
| Average tangible common shareholders' equity | 15,150 | 13,587 | 12,338 | 12 | 23 | |||||||||||||||||||||||||||
| Total assets at end of period | 225,106 | 210,228 | 204,230 | 7 | 10 | |||||||||||||||||||||||||||
| Total Huntington shareholders’ equity at end of period | 24,342 | 22,248 | 19,740 | 9 | 23 | |||||||||||||||||||||||||||
| NCOs as a % of average loans and leases | 0.24 | % | 0.22 | % | 0.30 | % | ||||||||||||||||||||||||||
| NAL ratio | 0.62 | 0.59 | 0.60 | |||||||||||||||||||||||||||||
NPA ratio (4) | 0.63 | 0.60 | 0.63 | |||||||||||||||||||||||||||||
| Allowance for loan and lease losses (ALLL) as a % of total loans and leases at the end of period | 1.70 | 1.72 | 1.73 | |||||||||||||||||||||||||||||
| Allowance for credit losses (ACL) as a % of total loans and leases at the end of period | 1.83 | 1.86 | 1.88 | |||||||||||||||||||||||||||||
Common equity tier 1 risk-based capital ratio (5) | 10.4 | 10.6 | 10.5 | |||||||||||||||||||||||||||||
Tangible common equity / tangible asset ratio (6) | 7.1 | 6.8 | 6.1 | |||||||||||||||||||||||||||||
NM - Not Meaningful
See Notes to Quarterly and Annual Key Statistics.
1
Huntington Bancshares Incorporated
Annual Key Statistics
(Unaudited)
| Year Ended December 31, | Change | ||||||||||||||||||||||
| (dollar amounts in millions, except per share data) | 2025 | 2024 | Amount | Percent | |||||||||||||||||||
Net interest income - FTE (1) | $ | 6,056 | $ | 5,398 | $ | 658 | 12 | % | |||||||||||||||
| FTE adjustment | (65) | (53) | (12) | (23) | |||||||||||||||||||
| Net interest income | 5,991 | 5,345 | 646 | 12 | |||||||||||||||||||
| Provision for credit losses | 463 | 420 | 43 | 10 | |||||||||||||||||||
| Noninterest income | 2,175 | 2,040 | 135 | 7 | |||||||||||||||||||
| Noninterest expense | 5,015 | 4,562 | 453 | 10 | |||||||||||||||||||
| Income before income taxes | 2,688 | 2,403 | 285 | 12 | |||||||||||||||||||
| Provision for income taxes | 459 | 443 | 16 | 4 | |||||||||||||||||||
| Income after income taxes | 2,229 | 1,960 | 269 | 14 | |||||||||||||||||||
| Income attributable to non-controlling interest | 18 | 20 | (2) | (10) | |||||||||||||||||||
| Net income attributable to Huntington | 2,211 | 1,940 | 271 | 14 | |||||||||||||||||||
| Dividends on preferred shares | 124 | 134 | (10) | (7) | |||||||||||||||||||
| Impact of preferred stock redemptions | — | 5 | (5) | NM | |||||||||||||||||||
| Net income applicable to common shares | $ | 2,087 | $ | 1,801 | $ | 286 | 16 | % | |||||||||||||||
| Net income per common share - diluted | $ | 1.39 | $ | 1.22 | $ | 0.17 | 14 | % | |||||||||||||||
| Cash dividends declared per common share | 0.62 | 0.62 | — | — | |||||||||||||||||||
| Average common shares - basic | 1,479 | 1,451 | 28 | 2 | |||||||||||||||||||
| Average common shares - diluted | 1,505 | 1,476 | 29 | 2 | |||||||||||||||||||
| Return on average assets | 1.05 | % | 0.99 | % | |||||||||||||||||||
| Return on average common shareholders’ equity | 10.8 | 10.4 | |||||||||||||||||||||
| Return on average tangible common shareholders’ equity (2) | 15.7 | 15.7 | |||||||||||||||||||||
| Net interest margin (1) | 3.13 | 3.00 | |||||||||||||||||||||
| Efficiency ratio (3) | 59.9 | 60.5 | |||||||||||||||||||||
| Effective tax rate | 17.1 | 18.4 | |||||||||||||||||||||
| Average total assets | $ | 210,763 | $ | 196,260 | $ | 14,503 | 7 | % | |||||||||||||||
| Average earning assets | 193,695 | 179,756 | 13,939 | 8 | |||||||||||||||||||
| Average loans and leases | 136,687 | 124,503 | 12,184 | 10 | |||||||||||||||||||
| Average total deposits | 165,778 | 155,066 | 10,712 | 7 | |||||||||||||||||||
| Average Huntington shareholders’ equity | 21,458 | 19,651 | 1,807 | 9 | |||||||||||||||||||
Average common shareholders' equity | 19,241 | 17,347 | 1,894 | 11 | |||||||||||||||||||
| Average tangible common shareholders' equity | 13,520 | 11,693 | 1,827 | 16 | |||||||||||||||||||
| NCOs as a % of average loans and leases | 0.23 | % | 0.30 | % | |||||||||||||||||||
NM - Not Meaningful
See Notes to Quarterly and Annual Key Statistics.
2
Notes to Quarterly and Annual Key Statistics
(1)Calculated on a fully-taxable equivalent (FTE) basis, which represents a non-GAAP measure, assuming a 21% tax rate.
(2)Net income applicable to common shares excluding expense for amortization of intangibles for the period divided by average tangible common shareholders’ equity. Average tangible common shareholders’ equity equals average total common shareholders’ equity less average intangible assets and goodwill. Expense for amortization of intangibles and average intangible assets are net of deferred tax liability, and calculated on a fully-taxable equivalent (FTE) basis, which represents a non-GAAP measure, assuming a 21% tax rate.
(3)Noninterest expense less amortization of intangibles divided by the sum of FTE net interest income and noninterest income excluding securities gains (losses).
(4)NPAs include other nonperforming assets, which includes certain impaired securities and/or nonaccrual loans held for sale, and other real estate owned.
(5)December 31, 2025 figure is estimated.
(6)Tangible common equity (total common equity less goodwill and other intangible assets) divided by tangible assets (total assets less goodwill and other intangible assets), which represents a non-GAAP measure. Other intangible assets are net of deferred tax liability, calculated at a 21% tax rate. See page 18 for reconciliation.
3
Huntington Bancshares Incorporated
Consolidated Balance Sheets
| At December 31, | |||||||||||||||||
| (dollar amounts in millions) | 2025 | 2024 | Percent Changes | ||||||||||||||
| (Unaudited) | |||||||||||||||||
| Assets | |||||||||||||||||
| Cash and due from banks | $ | 1,783 | $ | 1,685 | 6 | % | |||||||||||
| Interest-earning deposits with banks | 12,295 | 11,647 | 6 | ||||||||||||||
| Trading account securities | 63 | 53 | 19 | ||||||||||||||
| Available-for-sale securities | 26,132 | 27,273 | (4) | ||||||||||||||
| Held-to-maturity securities | 15,258 | 16,368 | (7) | ||||||||||||||
| Other securities | 994 | 823 | 21 | ||||||||||||||
| Loans held for sale | 1,415 | 654 | 116 | ||||||||||||||
| Loans and leases (1) | 149,642 | 130,042 | 15 | ||||||||||||||
| Allowance for loan and lease losses | (2,537) | (2,244) | (13) | ||||||||||||||
| Net loans and leases | 147,105 | 127,798 | 15 | ||||||||||||||
| Bank owned life insurance | 2,902 | 2,793 | 4 | ||||||||||||||
| Accrued income and other receivables | 2,621 | 2,190 | 20 | ||||||||||||||
| Premises and equipment | 1,321 | 1,066 | 24 | ||||||||||||||
| Goodwill | 5,997 | 5,561 | 8 | ||||||||||||||
| Servicing rights and other intangible assets | 752 | 677 | 11 | ||||||||||||||
| Other assets | 6,468 | 5,642 | 15 | ||||||||||||||
| Total assets | $ | 225,106 | $ | 204,230 | 10 | % | |||||||||||
| Liabilities and shareholders' equity | |||||||||||||||||
| Liabilities | |||||||||||||||||
| Deposits (2) | $ | 176,610 | $ | 162,448 | 9 | % | |||||||||||
| Short-term borrowings | 1,261 | 199 | 534 | % | |||||||||||||
| Long-term debt | 17,221 | 16,374 | 5 | ||||||||||||||
| Other liabilities | 5,635 | 5,427 | 4 | ||||||||||||||
| Total liabilities | 200,727 | 184,448 | 9 | ||||||||||||||
| Shareholders' equity | |||||||||||||||||
| Preferred stock | 2,731 | 1,989 | 37 | ||||||||||||||
| Common stock | 16 | 15 | 7 | ||||||||||||||
| Capital surplus | 17,244 | 15,484 | 11 | ||||||||||||||
| Less treasury shares, at cost | (92) | (86) | (7) | ||||||||||||||
| Accumulated other comprehensive income (loss) | (1,908) | (2,866) | 33 | ||||||||||||||
| Retained earnings | 6,351 | 5,204 | 22 | ||||||||||||||
| Total Huntington shareholders’ equity | 24,342 | 19,740 | 23 | ||||||||||||||
| Non-controlling interest | 37 | 42 | (12) | ||||||||||||||
| Total equity | 24,379 | 19,782 | 23 | ||||||||||||||
| Total liabilities and equity | $ | 225,106 | $ | 204,230 | 10 | % | |||||||||||
| Common shares authorized (par value of $0.01) | 2,250,000,000 | 2,250,000,000 | |||||||||||||||
| Common shares outstanding | 1,567,732,506 | 1,453,635,809 | |||||||||||||||
| Treasury shares outstanding | 7,187,541 | 6,984,102 | |||||||||||||||
| Preferred stock, authorized shares | 6,617,808 | 6,617,808 | |||||||||||||||
| Preferred shares outstanding | 885,000 | 877,500 | |||||||||||||||
(1)See page 5 for detail of loans and leases.
(2)See page 6 for detail of deposits.
4
Huntington Bancshares Incorporated
Loans and Leases Composition
(Unaudited)
| December 31, | September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (dollar amounts in millions) | 2025 | 2025 | 2025 | 2025 | 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Ending balances by type: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total loans and leases | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial and industrial | $ | 69,442 | 46 | % | $ | 62,978 | 45 | % | $ | 60,723 | 45 | % | $ | 58,948 | 45 | % | $ | 56,809 | 43 | % | |||||||||||||||||||||||||||||||||||||||
| Commercial real estate: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial | 12,919 | 8 | 9,613 | 7 | 9,793 | 7 | 10,196 | 7 | 10,215 | 8 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Construction | 2,290 | 2 | 1,119 | 1 | 905 | 1 | 772 | 1 | 863 | 1 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial real estate | 15,209 | 10 | 10,732 | 8 | 10,698 | 8 | 10,968 | 8 | 11,078 | 9 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Lease financing | 5,727 | 4 | 5,515 | 4 | 5,516 | 4 | 5,451 | 4 | 5,454 | 4 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Total commercial | 90,378 | 60 | 79,225 | 57 | 76,937 | 57 | 75,367 | 57 | 73,341 | 56 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Residential mortgage | 24,777 | 17 | 24,502 | 18 | 24,527 | 19 | 24,369 | 19 | 24,242 | 19 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Automobile | 16,168 | 11 | 15,996 | 12 | 15,382 | 11 | 14,877 | 11 | 14,564 | 11 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Home equity | 10,395 | 7 | 10,314 | 7 | 10,221 | 8 | 10,130 | 8 | 10,142 | 8 | |||||||||||||||||||||||||||||||||||||||||||||||||
RV and marine | 5,682 | 4 | 5,805 | 4 | 5,907 | 4 | 5,939 | 4 | 5,982 | 5 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Other consumer | 2,242 | 1 | 2,114 | 2 | 1,986 | 1 | 1,823 | 1 | 1,771 | 1 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Total consumer | 59,264 | 40 | 58,731 | 43 | 58,023 | 43 | 57,138 | 43 | 56,701 | 44 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Total loans and leases | $ | 149,642 | 100 | % | $ | 137,956 | 100 | % | $ | 134,960 | 100 | % | $ | 132,505 | 100 | % | $ | 130,042 | 100 | % | |||||||||||||||||||||||||||||||||||||||
| Ending balances by business segment: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Consumer & Regional Banking | $ | 79,069 | 53 | % | $ | 75,027 | 55 | % | $ | 73,887 | 55 | % | $ | 72,653 | 55 | % | $ | 72,051 | 56 | % | |||||||||||||||||||||||||||||||||||||||
| Commercial Banking | 70,391 | 47 | 62,755 | 45 | 60,823 | 45 | 59,726 | 45 | 57,858 | 44 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Treasury / Other | 182 | — | 174 | — | 250 | — | 126 | — | 133 | — | |||||||||||||||||||||||||||||||||||||||||||||||||
| Total loans and leases | $ | 149,642 | 100 | % | $ | 137,956 | 100 | % | $ | 134,960 | 100 | % | $ | 132,505 | 100 | % | $ | 130,042 | 100 | % | |||||||||||||||||||||||||||||||||||||||
| Average balances by business segment: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Consumer & Regional Banking | $ | 77,908 | 53 | % | $ | 74,306 | 55 | % | $ | 73,154 | 55 | % | $ | 72,043 | 55 | % | $ | 71,390 | 56 | % | |||||||||||||||||||||||||||||||||||||||
| Commercial Banking | 68,388 | 47 | 61,373 | 45 | 59,806 | 45 | 58,588 | 45 | 56,492 | 44 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Treasury / Other | 311 | — | 265 | — | 211 | — | 231 | — | 276 | — | |||||||||||||||||||||||||||||||||||||||||||||||||
| Total loans and leases | $ | 146,607 | 100 | % | $ | 135,944 | 100 | % | $ | 133,171 | 100 | % | $ | 130,862 | 100 | % | $ | 128,158 | 100 | % | |||||||||||||||||||||||||||||||||||||||
5
Huntington Bancshares Incorporated
Deposits Composition
(Unaudited)
| December 31, | September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (dollar amounts in millions) | 2025 | 2025 | 2025 | 2025 | 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balances by type: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total deposits | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Demand deposits - noninterest-bearing | $ | 32,205 | 18 | % | $ | 28,596 | 17 | % | $ | 28,656 | 18 | % | $ | 30,217 | 18 | % | $ | 29,345 | 18 | % | |||||||||||||||||||||||||||||||||||||||
| Demand deposits - interest-bearing | 48,510 | 27 | 46,056 | 28 | 45,468 | 28 | 44,992 | 28 | 43,378 | 27 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Money market deposits | 65,123 | 37 | 62,837 | 38 | 60,998 | 37 | 61,608 | 37 | 60,730 | 37 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Savings deposits | 15,426 | 9 | 14,986 | 9 | 15,112 | 9 | 15,179 | 9 | 14,723 | 9 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Time deposits | 15,346 | 9 | 12,737 | 8 | 13,146 | 8 | 13,341 | 8 | 14,272 | 9 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Total deposits | $ | 176,610 | 100 | % | $ | 165,212 | 100 | % | $ | 163,380 | 100 | % | $ | 165,337 | 100 | % | $ | 162,448 | 100 | % | |||||||||||||||||||||||||||||||||||||||
Ending balances by business segment: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Consumer & Regional Banking | $ | 117,188 | 66 | % | $ | 110,043 | 67 | % | $ | 111,926 | 68 | % | $ | 112,972 | 68 | % | $ | 111,390 | 69 | % | |||||||||||||||||||||||||||||||||||||||
| Commercial Banking | 50,657 | 29 | 47,651 | 28 | 43,691 | 27 | 44,090 | 27 | 43,366 | 26 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Treasury / Other | 8,765 | 5 | 7,518 | 5 | 7,763 | 5 | 8,275 | 5 | 7,692 | 5 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Total deposits | $ | 176,610 | 100 | % | $ | 165,212 | 100 | % | $ | 163,380 | 100 | % | $ | 165,337 | 100 | % | $ | 162,448 | 100 | % | |||||||||||||||||||||||||||||||||||||||
Average balances by business segment: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Consumer & Regional Banking | $ | 114,613 | 66 | % | $ | 111,138 | 68 | % | $ | 112,135 | 69 | % | $ | 110,974 | 69 | % | $ | 110,750 | 70 | % | |||||||||||||||||||||||||||||||||||||||
| Commercial Banking | 50,470 | 29 | 46,346 | 28 | 43,288 | 26 | 42,714 | 26 | 41,741 | 26 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Treasury / Other | 8,073 | 5 | 7,328 | 4 | 8,006 | 5 | 7,912 | 5 | 6,914 | 4 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Total deposits | $ | 173,156 | 100 | % | $ | 164,812 | 100 | % | $ | 163,429 | 100 | % | $ | 161,600 | 100 | % | $ | 159,405 | 100 | % | |||||||||||||||||||||||||||||||||||||||
6
Huntington Bancshares Incorporated
Consolidated Quarterly Average Balance Sheets
(Unaudited)
Quarterly Average Balances (1) | ||||||||||||||||||||||||||||||||||||||||||||
| December 31, | September 30, | June 30, | March 31, | December 31, | Percent Changes vs. | |||||||||||||||||||||||||||||||||||||||
| (dollar amounts in millions) | 2025 | 2025 | 2025 | 2025 | 2024 | 3Q25 | 4Q24 | |||||||||||||||||||||||||||||||||||||
| Assets | ||||||||||||||||||||||||||||||||||||||||||||
| Interest-earning deposits with banks | $ | 12,231 | $ | 11,823 | $ | 12,264 | $ | 11,632 | $ | 11,027 | 3 | % | 11 | % | ||||||||||||||||||||||||||||||
| Securities: | ||||||||||||||||||||||||||||||||||||||||||||
| Trading account securities | 112 | 629 | 634 | 487 | 645 | (82) | (83) | |||||||||||||||||||||||||||||||||||||
| Available-for-sale securities: | ||||||||||||||||||||||||||||||||||||||||||||
| Taxable | 22,879 | 23,485 | 24,015 | 24,245 | 24,778 | (3) | (8) | |||||||||||||||||||||||||||||||||||||
| Tax-exempt | 3,405 | 3,318 | 3,251 | 3,254 | 3,056 | 3 | 11 | |||||||||||||||||||||||||||||||||||||
| Total available-for-sale securities | 26,284 | 26,803 | 27,266 | 27,499 | 27,834 | (2) | (6) | |||||||||||||||||||||||||||||||||||||
| Held-to-maturity securities - taxable | 15,397 | 15,752 | 16,130 | 16,358 | 16,053 | (2) | (4) | |||||||||||||||||||||||||||||||||||||
| Other securities | 949 | 888 | 881 | 877 | 824 | 7 | 15 | |||||||||||||||||||||||||||||||||||||
| Total securities | 42,742 | 44,072 | 44,911 | 45,221 | 45,356 | (3) | (6) | |||||||||||||||||||||||||||||||||||||
| Loans held for sale | 931 | 893 | 746 | 584 | 681 | 4 | 37 | |||||||||||||||||||||||||||||||||||||
| Loans and leases: (2) | ||||||||||||||||||||||||||||||||||||||||||||
| Commercial: | ||||||||||||||||||||||||||||||||||||||||||||
| Commercial and industrial | 67,378 | 61,440 | 59,393 | 57,555 | 55,136 | 10 | 22 | |||||||||||||||||||||||||||||||||||||
| Commercial real estate: | ||||||||||||||||||||||||||||||||||||||||||||
| Commercial | 12,192 | 9,672 | 9,955 | 10,206 | 10,461 | 26 | 17 | |||||||||||||||||||||||||||||||||||||
| Construction | 2,076 | 1,020 | 830 | 815 | 818 | 104 | 154 | |||||||||||||||||||||||||||||||||||||
| Commercial real estate | 14,268 | 10,692 | 10,785 | 11,021 | 11,279 | 33 | 27 | |||||||||||||||||||||||||||||||||||||
| Lease financing | 5,498 | 5,483 | 5,458 | 5,476 | 5,424 | — | 1 | |||||||||||||||||||||||||||||||||||||
| Total commercial | 87,144 | 77,615 | 75,636 | 74,052 | 71,839 | 12 | 21 | |||||||||||||||||||||||||||||||||||||
| Consumer: | ||||||||||||||||||||||||||||||||||||||||||||
| Residential mortgage | 25,098 | 24,511 | 24,423 | 24,299 | 24,127 | 2 | 4 | |||||||||||||||||||||||||||||||||||||
| Automobile | 16,114 | 15,693 | 15,132 | 14,665 | 14,350 | 3 | 12 | |||||||||||||||||||||||||||||||||||||
| Home equity | 10,372 | 10,264 | 10,196 | 10,123 | 10,134 | 1 | 2 | |||||||||||||||||||||||||||||||||||||
| RV and marine | 5,747 | 5,860 | 5,921 | 5,951 | 6,009 | (2) | (4) | |||||||||||||||||||||||||||||||||||||
| Other consumer | 2,132 | 2,001 | 1,863 | 1,772 | 1,699 | 7 | 25 | |||||||||||||||||||||||||||||||||||||
| Total consumer | 59,463 | 58,329 | 57,535 | 56,810 | 56,319 | 2 | 6 | |||||||||||||||||||||||||||||||||||||
| Total loans and leases | 146,607 | 135,944 | 133,171 | 130,862 | 128,158 | 8 | 14 | |||||||||||||||||||||||||||||||||||||
| Total earning assets | 202,511 | 192,732 | 191,092 | 188,299 | 185,222 | 5 | 9 | |||||||||||||||||||||||||||||||||||||
| Cash and due from banks | 1,396 | 1,445 | 1,407 | 1,404 | 1,348 | (3) | 4 | |||||||||||||||||||||||||||||||||||||
| Goodwill and other intangible assets | 6,043 | 5,625 | 5,640 | 5,651 | 5,662 | 7 | 7 | |||||||||||||||||||||||||||||||||||||
| All other assets | 10,280 | 9,925 | 9,713 | 9,733 | 9,583 | 4 | 7 | |||||||||||||||||||||||||||||||||||||
| Total assets | $ | 220,230 | $ | 209,727 | $ | 207,852 | $ | 205,087 | $ | 201,815 | 5 | % | 9 | % | ||||||||||||||||||||||||||||||
| Liabilities and shareholders' equity | ||||||||||||||||||||||||||||||||||||||||||||
| Interest-bearing deposits: | ||||||||||||||||||||||||||||||||||||||||||||
| Demand deposits - interest-bearing | $ | 47,185 | $ | 45,980 | $ | 44,677 | $ | 43,582 | $ | 41,802 | 3 | % | 13 | % | ||||||||||||||||||||||||||||||
| Money market deposits | 65,182 | 62,009 | 61,090 | 60,213 | 58,297 | 5 | 12 | |||||||||||||||||||||||||||||||||||||
| Savings deposits | 15,360 | 15,042 | 15,127 | 14,866 | 14,648 | 2 | 5 | |||||||||||||||||||||||||||||||||||||
| Time deposits | 14,661 | 12,773 | 13,290 | 13,993 | 15,076 | 15 | (3) | |||||||||||||||||||||||||||||||||||||
| Total interest-bearing deposits | 142,388 | 135,804 | 134,184 | 132,654 | 129,823 | 5 | 10 | |||||||||||||||||||||||||||||||||||||
| Short-term borrowings | 897 | 1,267 | 1,261 | 1,439 | 1,249 | (29) | (28) | |||||||||||||||||||||||||||||||||||||
| Long-term debt | 17,335 | 17,433 | 17,776 | 16,901 | 16,081 | (1) | 8 | |||||||||||||||||||||||||||||||||||||
| Total interest-bearing liabilities | 160,620 | 154,504 | 153,221 | 150,994 | 147,153 | 4 | 9 | |||||||||||||||||||||||||||||||||||||
| Demand deposits - noninterest-bearing | 30,768 | 29,008 | 29,245 | 28,946 | 29,582 | 6 | 4 | |||||||||||||||||||||||||||||||||||||
| All other liabilities | 4,907 | 4,826 | 4,788 | 5,102 | 5,020 | 2 | (2) | |||||||||||||||||||||||||||||||||||||
| Total liabilities | 196,295 | 188,338 | 187,254 | 185,042 | 181,755 | 4 | 8 | |||||||||||||||||||||||||||||||||||||
| Total Huntington shareholders’ equity | 23,896 | 21,348 | 20,548 | 19,997 | 20,013 | 12 | 19 | |||||||||||||||||||||||||||||||||||||
| Non-controlling interest | 39 | 41 | 50 | 48 | 47 | (5) | (17) | |||||||||||||||||||||||||||||||||||||
| Total equity | 23,935 | 21,389 | 20,598 | 20,045 | 20,060 | 12 | 19 | |||||||||||||||||||||||||||||||||||||
| Total liabilities and equity | $ | 220,230 | $ | 209,727 | $ | 207,852 | $ | 205,087 | $ | 201,815 | 5 | % | 9 | % | ||||||||||||||||||||||||||||||
(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.
7
Huntington Bancshares Incorporated
Consolidated Quarterly Net Interest Margin - Interest Income / Expense
(Unaudited)
Quarterly Interest Income / Expense (1) (2) | |||||||||||||||||||||||||||||
| December 31, | September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
| (dollar amounts in millions) | 2025 | 2025 | 2025 | 2025 | 2024 | ||||||||||||||||||||||||
| Assets | |||||||||||||||||||||||||||||
| Interest-earning deposits with banks | $ | 124 | $ | 134 | $ | 139 | $ | 129 | $ | 136 | |||||||||||||||||||
| Securities: | |||||||||||||||||||||||||||||
| Trading account securities | — | 7 | 6 | 4 | 8 | ||||||||||||||||||||||||
| Available-for-sale securities: | |||||||||||||||||||||||||||||
| Taxable | 212 | 246 | 278 | 287 | 302 | ||||||||||||||||||||||||
| Tax-exempt | 43 | 41 | 41 | 42 | 38 | ||||||||||||||||||||||||
| Total available-for-sale securities | 255 | 287 | 319 | 329 | 340 | ||||||||||||||||||||||||
| Held-to-maturity securities - taxable | 103 | 105 | 107 | 108 | 104 | ||||||||||||||||||||||||
| Other securities | 11 | 12 | 12 | 12 | 12 | ||||||||||||||||||||||||
| Total securities | 369 | 411 | 444 | 453 | 464 | ||||||||||||||||||||||||
| Loans held for sale | 14 | 15 | 12 | 9 | 11 | ||||||||||||||||||||||||
| Loans and leases: | |||||||||||||||||||||||||||||
| Commercial: | |||||||||||||||||||||||||||||
| Commercial and industrial | 1,023 | 959 | 914 | 873 | 851 | ||||||||||||||||||||||||
| Commercial real estate: | |||||||||||||||||||||||||||||
| Commercial | 197 | 168 | 166 | 170 | 185 | ||||||||||||||||||||||||
| Construction | 36 | 19 | 17 | 15 | 22 | ||||||||||||||||||||||||
| Commercial real estate | 233 | 187 | 183 | 185 | 207 | ||||||||||||||||||||||||
| Lease financing | 91 | 93 | 92 | 89 | 89 | ||||||||||||||||||||||||
| Total commercial | 1,347 | 1,239 | 1,189 | 1,147 | 1,147 | ||||||||||||||||||||||||
| Consumer: | |||||||||||||||||||||||||||||
| Residential mortgage | 269 | 259 | 253 | 250 | 243 | ||||||||||||||||||||||||
| Automobile | 241 | 234 | 219 | 207 | 205 | ||||||||||||||||||||||||
| Home equity | 184 | 190 | 186 | 183 | 190 | ||||||||||||||||||||||||
RV and marine | 80 | 80 | 79 | 78 | 81 | ||||||||||||||||||||||||
| Other consumer | 54 | 55 | 51 | 48 | 47 | ||||||||||||||||||||||||
| Total consumer | 828 | 818 | 788 | 766 | 766 | ||||||||||||||||||||||||
| Total loans and leases | 2,175 | 2,057 | 1,977 | 1,913 | 1,913 | ||||||||||||||||||||||||
| Total earning assets | $ | 2,682 | $ | 2,617 | $ | 2,572 | $ | 2,504 | $ | 2,524 | |||||||||||||||||||
| Liabilities | |||||||||||||||||||||||||||||
| Interest-bearing deposits: | |||||||||||||||||||||||||||||
| Demand deposits - interest-bearing | $ | 227 | $ | 235 | $ | 223 | $ | 205 | $ | 209 | |||||||||||||||||||
| Money market deposits | 437 | 466 | 464 | 458 | 479 | ||||||||||||||||||||||||
Savings deposits | 19 | 13 | 11 | 7 | 6 | ||||||||||||||||||||||||
Time deposits | 137 | 116 | 124 | 140 | 169 | ||||||||||||||||||||||||
| Total interest-bearing deposits | 820 | 830 | 822 | 810 | 863 | ||||||||||||||||||||||||
| Short-term borrowings | 10 | 13 | 13 | 14 | 17 | ||||||||||||||||||||||||
| Long-term debt | 243 | 251 | 254 | 239 | 235 | ||||||||||||||||||||||||
| Total interest-bearing liabilities | 1,073 | 1,094 | 1,089 | 1,063 | 1,115 | ||||||||||||||||||||||||
| Net interest income | $ | 1,609 | $ | 1,523 | $ | 1,483 | $ | 1,441 | $ | 1,409 | |||||||||||||||||||
(1)Calculated on a fully-taxable equivalent (FTE) basis, which represents a non-GAAP measure, 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.
8
Huntington Bancshares Incorporated
Consolidated Quarterly Net Interest Margin - Yield / Rate
(Unaudited)
Quarterly Average Yield / Rate (1) | |||||||||||||||||||||||||||||
| December 31, | September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
| 2025 | 2025 | 2025 | 2025 | 2024 | |||||||||||||||||||||||||
| Assets | |||||||||||||||||||||||||||||
| Interest-earning deposits with banks | 4.03 | % | 4.53 | % | 4.52 | % | 4.45 | % | 4.92 | % | |||||||||||||||||||
| Securities: | |||||||||||||||||||||||||||||
| Trading account securities | 2.58 | 4.03 | 3.72 | 3.67 | 5.39 | ||||||||||||||||||||||||
| Available-for-sale securities: | |||||||||||||||||||||||||||||
| Taxable | 3.72 | 4.19 | 4.62 | 4.73 | 4.87 | ||||||||||||||||||||||||
| Tax-exempt | 4.99 | 5.02 | 4.93 | 5.22 | 5.00 | ||||||||||||||||||||||||
| Total available-for-sale securities | 3.88 | 4.29 | 4.66 | 4.79 | 4.89 | ||||||||||||||||||||||||
| Held-to-maturity securities - taxable | 2.66 | 2.66 | 2.66 | 2.64 | 2.59 | ||||||||||||||||||||||||
| Other securities | 4.86 | 5.15 | 5.85 | 5.28 | 6.01 | ||||||||||||||||||||||||
| Total securities | 3.46 | 3.72 | 3.95 | 4.01 | 4.10 | ||||||||||||||||||||||||
| Loans held for sale | 6.13 | 6.52 | 6.43 | 6.48 | 6.28 | ||||||||||||||||||||||||
| Loans and leases: (2) | |||||||||||||||||||||||||||||
| Commercial: | |||||||||||||||||||||||||||||
| Commercial and industrial | 5.94 | 6.11 | 6.09 | 6.07 | 6.05 | ||||||||||||||||||||||||
| Commercial real estate: | |||||||||||||||||||||||||||||
| Commercial | 6.32 | 6.83 | 6.59 | 6.66 | 6.91 | ||||||||||||||||||||||||
| Construction | 6.77 | 7.11 | 8.16 | 7.47 | 10.64 | ||||||||||||||||||||||||
| Commercial real estate | 6.39 | 6.86 | 6.71 | 6.72 | 7.18 | ||||||||||||||||||||||||
| Lease financing | 6.48 | 6.69 | 6.66 | 6.49 | 6.38 | ||||||||||||||||||||||||
| Total commercial | 6.05 | 6.25 | 6.22 | 6.19 | 6.25 | ||||||||||||||||||||||||
| Consumer: | |||||||||||||||||||||||||||||
| Residential mortgage | 4.29 | 4.23 | 4.15 | 4.11 | 4.03 | ||||||||||||||||||||||||
| Automobile | 5.93 | 5.92 | 5.82 | 5.71 | 5.70 | ||||||||||||||||||||||||
| Home equity | 7.02 | 7.34 | 7.32 | 7.33 | 7.42 | ||||||||||||||||||||||||
RV and marine | 5.53 | 5.41 | 5.31 | 5.34 | 5.35 | ||||||||||||||||||||||||
| Other consumer | 10.11 | 10.82 | 10.88 | 11.01 | 11.18 | ||||||||||||||||||||||||
| Total consumer | 5.54 | 5.57 | 5.49 | 5.44 | 5.42 | ||||||||||||||||||||||||
| Total loans and leases | 5.84 | 5.96 | 5.91 | 5.87 | 5.89 | ||||||||||||||||||||||||
| Total earning assets | 5.25 | 5.39 | 5.40 | 5.39 | 5.42 | ||||||||||||||||||||||||
| Liabilities | |||||||||||||||||||||||||||||
| Interest-bearing deposits: | |||||||||||||||||||||||||||||
| Demand deposits - interest-bearing | 1.91 | 2.02 | 2.00 | 1.91 | 1.99 | ||||||||||||||||||||||||
| Money market deposits | 2.66 | 2.99 | 3.05 | 3.08 | 3.27 | ||||||||||||||||||||||||
Savings deposits | 0.47 | 0.35 | 0.28 | 0.20 | 0.16 | ||||||||||||||||||||||||
Time deposits | 3.69 | 3.60 | 3.74 | 4.06 | 4.47 | ||||||||||||||||||||||||
| Total interest-bearing deposits | 2.28 | 2.43 | 2.46 | 2.48 | 2.65 | ||||||||||||||||||||||||
| Short-term borrowings | 4.45 | 3.90 | 4.37 | 3.87 | 5.37 | ||||||||||||||||||||||||
| Long-term debt | 5.61 | 5.75 | 5.69 | 5.68 | 5.83 | ||||||||||||||||||||||||
| Total interest-bearing liabilities | 2.65 | 2.81 | 2.85 | 2.86 | 3.01 | ||||||||||||||||||||||||
| Net interest rate spread | 2.60 | 2.58 | 2.55 | 2.53 | 2.41 | ||||||||||||||||||||||||
| Impact of noninterest-bearing funds on margin | 0.55 | 0.55 | 0.56 | 0.57 | 0.62 | ||||||||||||||||||||||||
| Net interest margin | 3.15 | % | 3.13 | % | 3.11 | % | 3.10 | % | 3.03 | % | |||||||||||||||||||
| Additional information: | |||||||||||||||||||||||||||||
| Commercial Loan Derivative Impact | |||||||||||||||||||||||||||||
| Commercial loans (2) (3) | 6.23 | % | 6.50 | % | 6.49 | % | 6.57 | % | 6.77 | % | |||||||||||||||||||
| Impact of commercial loan derivatives | (0.18) | (0.25) | (0.27) | (0.38) | (0.52) | ||||||||||||||||||||||||
| Total commercial - as reported | 6.05 | % | 6.25 | % | 6.22 | % | 6.19 | % | 6.25 | % | |||||||||||||||||||
| Average SOFR | 4.00 | % | 4.33 | % | 4.32 | % | 4.33 | % | 4.68 | % | |||||||||||||||||||
| Total cost of deposits (4) | 1.88 | % | 2.00 | % | 2.02 | % | 2.03 | % | 2.16 | % | |||||||||||||||||||
(1)Calculated on a fully-taxable equivalent (FTE) basis, which represents a non-GAAP measure, assuming a 21% tax rate. See page 10 for the FTE adjustment.
(2)Includes nonaccrual loans and leases.
(3)Yields/rates exclude the effects of hedge and risk management activities associated with the respective asset and liability categories.
(4)Includes noninterest-bearing and interest-bearing deposit balances.
9
Huntington Bancshares Incorporated
Selected Quarterly Income Statement Data
(Unaudited)
| Three Months Ended | |||||||||||||||||||||||||||||
| (dollar amounts in millions, except per share data) | December 31, | September 30, | June 30, | March 31, | December 31, | ||||||||||||||||||||||||
| 2025 | 2025 | 2025 | 2025 | 2024 | |||||||||||||||||||||||||
Interest income | $ | 2,665 | $ | 2,600 | $ | 2,556 | $ | 2,489 | $ | 2,510 | |||||||||||||||||||
Interest expense | 1,073 | 1,094 | 1,089 | 1,063 | 1,115 | ||||||||||||||||||||||||
| Net interest income | 1,592 | 1,506 | 1,467 | 1,426 | 1,395 | ||||||||||||||||||||||||
| Provision for credit losses | 123 | 122 | 103 | 115 | 107 | ||||||||||||||||||||||||
| Net interest income after provision for credit losses | 1,469 | 1,384 | 1,364 | 1,311 | 1,288 | ||||||||||||||||||||||||
| Payments and cash management revenue | 170 | 174 | 165 | 155 | 162 | ||||||||||||||||||||||||
| Wealth and asset management revenue | 102 | 104 | 102 | 101 | 93 | ||||||||||||||||||||||||
| Customer deposit and loan fees | 107 | 102 | 95 | 86 | 88 | ||||||||||||||||||||||||
| Capital markets and advisory fees | 101 | 94 | 84 | 67 | 120 | ||||||||||||||||||||||||
| Mortgage banking income | 39 | 43 | 28 | 31 | 31 | ||||||||||||||||||||||||
| Insurance income | 22 | 20 | 19 | 20 | 22 | ||||||||||||||||||||||||
| Leasing revenue | 19 | 23 | 10 | 14 | 19 | ||||||||||||||||||||||||
| Net gains (losses) on sales of securities | — | — | (58) | — | (21) | ||||||||||||||||||||||||
| Other noninterest income | 22 | 68 | 26 | 20 | 45 | ||||||||||||||||||||||||
Total noninterest income | 582 | 628 | 471 | 494 | 559 | ||||||||||||||||||||||||
| Personnel costs | 845 | 757 | 722 | 671 | 715 | ||||||||||||||||||||||||
| Outside data processing and other services | 222 | 198 | 182 | 170 | 167 | ||||||||||||||||||||||||
| Equipment | 67 | 66 | 68 | 67 | 70 | ||||||||||||||||||||||||
| Net occupancy | 56 | 57 | 54 | 65 | 56 | ||||||||||||||||||||||||
| Professional services | 80 | 31 | 22 | 22 | 27 | ||||||||||||||||||||||||
| Marketing | 36 | 34 | 28 | 29 | 28 | ||||||||||||||||||||||||
| Deposit and other insurance expense | (1) | 9 | 20 | 37 | 20 | ||||||||||||||||||||||||
| Amortization of intangibles | 13 | 11 | 11 | 11 | 12 | ||||||||||||||||||||||||
| Lease financing equipment depreciation | 3 | 4 | 2 | 4 | 3 | ||||||||||||||||||||||||
| Other noninterest expense | 99 | 79 | 88 | 76 | 80 | ||||||||||||||||||||||||
Total noninterest expense | 1,420 | 1,246 | 1,197 | 1,152 | 1,178 | ||||||||||||||||||||||||
| Income before income taxes | 631 | 766 | 638 | 653 | 669 | ||||||||||||||||||||||||
Provision for income taxes | 108 | 133 | 96 | 122 | 135 | ||||||||||||||||||||||||
| Income after income taxes | 523 | 633 | 542 | 531 | 534 | ||||||||||||||||||||||||
| Income attributable to non-controlling interest | 4 | 4 | 6 | 4 | 4 | ||||||||||||||||||||||||
| Net income attributable to Huntington | 519 | 629 | 536 | 527 | 530 | ||||||||||||||||||||||||
| Dividends on preferred shares | 43 | 27 | 27 | 27 | 27 | ||||||||||||||||||||||||
Impact of preferred stock redemptions | — | — | — | — | 5 | ||||||||||||||||||||||||
| Net income applicable to common shares | $ | 476 | $ | 602 | $ | 509 | $ | 500 | $ | 498 | |||||||||||||||||||
Average common shares - basic | 1,544 | 1,459 | 1,457 | 1,454 | 1,453 | ||||||||||||||||||||||||
Average common shares - diluted | 1,570 | 1,485 | 1,481 | 1,482 | 1,481 | ||||||||||||||||||||||||
Per common share | |||||||||||||||||||||||||||||
| Net income - basic | $ | 0.31 | $ | 0.41 | $ | 0.35 | $ | 0.34 | $ | 0.34 | |||||||||||||||||||
| Net income - diluted | 0.30 | 0.41 | 0.34 | 0.34 | 0.34 | ||||||||||||||||||||||||
Cash dividends declared | 0.155 | 0.155 | 0.155 | 0.155 | 0.155 | ||||||||||||||||||||||||
Revenue - fully-taxable equivalent (FTE) | |||||||||||||||||||||||||||||
| Net interest income | $ | 1,592 | $ | 1,506 | $ | 1,467 | $ | 1,426 | $ | 1,395 | |||||||||||||||||||
| FTE adjustment | 17 | 17 | 16 | 15 | 14 | ||||||||||||||||||||||||
| Net interest income (1) | 1,609 | 1,523 | 1,483 | 1,441 | 1,409 | ||||||||||||||||||||||||
| Noninterest income | 582 | 628 | 471 | 494 | 559 | ||||||||||||||||||||||||
| Total revenue (1) | $ | 2,191 | $ | 2,151 | $ | 1,954 | $ | 1,935 | $ | 1,968 | |||||||||||||||||||
(1)Calculated on a fully-taxable equivalent (FTE) basis, which represents a non-GAAP measure, assuming a 21% tax rate.
10
Huntington Bancshares Incorporated
Quarterly Mortgage Banking Noninterest Income
(Unaudited)
| Three Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
| December 31, | September 30, | June 30, | March 31, | December 31, | Percent Changes vs. | |||||||||||||||||||||||||||||||||||||||
(dollar amounts in millions) | 2025 | 2025 | 2025 | 2025 | 2024 | 3Q25 | 4Q24 | |||||||||||||||||||||||||||||||||||||
| Net origination and secondary marketing income | $ | 28 | $ | 30 | $ | 26 | $ | 18 | $ | 25 | (7) | % | 12 | % | ||||||||||||||||||||||||||||||
| Net mortgage servicing income | ||||||||||||||||||||||||||||||||||||||||||||
Loan servicing income | 26 | 26 | 26 | 26 | 26 | — | — | |||||||||||||||||||||||||||||||||||||
Amortization of capitalized servicing | (20) | (17) | (18) | (13) | (16) | (18) | (25) | |||||||||||||||||||||||||||||||||||||
Operating income | 6 | 9 | 8 | 13 | 10 | (33) | (40) | |||||||||||||||||||||||||||||||||||||
MSR valuation adjustment (1) | 13 | (1) | — | (15) | 53 | NM | (75) | |||||||||||||||||||||||||||||||||||||
Gains (losses) due to MSR hedging | (8) | 4 | (6) | 15 | (57) | NM | 86 | |||||||||||||||||||||||||||||||||||||
Net MSR risk management | 5 | 3 | (6) | — | (4) | 67 | 225 | |||||||||||||||||||||||||||||||||||||
| Total net mortgage servicing income | 11 | 12 | 2 | 13 | 6 | (8) | 83 | |||||||||||||||||||||||||||||||||||||
| All other | — | 1 | — | — | — | NM | — | |||||||||||||||||||||||||||||||||||||
| Mortgage banking income | $ | 39 | $ | 43 | $ | 28 | $ | 31 | $ | 31 | (9) | % | 26 | % | ||||||||||||||||||||||||||||||
| Mortgage origination volume | $ | 2,178 | $ | 2,243 | $ | 2,412 | $ | 1,599 | $ | 2,093 | (3) | % | 4 | % | ||||||||||||||||||||||||||||||
| Mortgage origination volume for sale | 1,421 | 1,516 | 1,508 | 938 | 1,220 | (6) | 16 | |||||||||||||||||||||||||||||||||||||
| Third party mortgage loans serviced (2) | $ | 34,407 | $ | 34,370 | $ | 33,925 | $ | 33,864 | $ | 33,696 | — | % | 2 | % | ||||||||||||||||||||||||||||||
| Mortgage servicing rights (2) | 593 | 576 | 567 | 564 | 573 | 3 | 3 | |||||||||||||||||||||||||||||||||||||
| MSR % of investor servicing portfolio (2) | 1.72 | % | 1.67 | % | 1.67 | % | 1.66 | % | 1.70 | % | 3 | % | 1 | % | ||||||||||||||||||||||||||||||
NM - Not Meaningful
(1)The change in fair value for the period represents the MSR valuation adjustment, net of amortization of capitalized servicing.
(2)At period end.
11
Huntington Bancshares Incorporated
Quarterly Credit Reserves Analysis
(Unaudited)
| Three Months Ended | |||||||||||||||||||||||||||||
| December 31, | September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
| (dollar amounts in millions) | 2025 | 2025 | 2025 | 2025 | 2024 | ||||||||||||||||||||||||
| Allowance for loan and lease losses, beginning of period | $ | 2,374 | $ | 2,331 | $ | 2,263 | $ | 2,244 | $ | 2,235 | |||||||||||||||||||
| Loan and lease charge-offs | (145) | (137) | (111) | (133) | (129) | ||||||||||||||||||||||||
Recoveries of loans and leases previously charged off | 56 | 62 | 45 | 47 | 32 | ||||||||||||||||||||||||
| Net loan and lease charge-offs | (89) | (75) | (66) | (86) | (97) | ||||||||||||||||||||||||
| Provision for loan and lease losses | 109 | 118 | 134 | 105 | 106 | ||||||||||||||||||||||||
Allowance on purchased credit deteriorated (PCD) loans and leases at acquisition | 71 | — | — | — | — | ||||||||||||||||||||||||
Allowance on purchased seasoned loans and leases at acquisition (1) | 72 | — | — | — | — | ||||||||||||||||||||||||
| Allowance for loan and lease losses, end of period | 2,537 | 2,374 | 2,331 | 2,263 | 2,244 | ||||||||||||||||||||||||
| Allowance for unfunded lending commitments, beginning of period | 188 | 184 | 215 | 202 | 201 | ||||||||||||||||||||||||
| Provision for unfunded lending commitments | 14 | 4 | (31) | 13 | 1 | ||||||||||||||||||||||||
Allowance for unfunded lending commitments at acquisition | 4 | — | — | — | — | ||||||||||||||||||||||||
| Allowance for unfunded lending commitments, end of period | 206 | 188 | 184 | 215 | 202 | ||||||||||||||||||||||||
| Total allowance for credit losses, end of period | $ | 2,743 | $ | 2,562 | $ | 2,515 | $ | 2,478 | $ | 2,446 | |||||||||||||||||||
| Allowance for loan and lease losses (ALLL) as % of: | |||||||||||||||||||||||||||||
| Total loans and leases | 1.70 | % | 1.72 | % | 1.73 | % | 1.71 | % | 1.73 | % | |||||||||||||||||||
| Nonaccrual loans and leases (NALs) | 272 | 294 | 277 | 302 | 286 | ||||||||||||||||||||||||
| Nonperforming assets (NPAs) | 269 | 289 | 274 | 281 | 273 | ||||||||||||||||||||||||
| Total allowance for credit losses (ACL) as % of: | |||||||||||||||||||||||||||||
| Total loans and leases | 1.83 | % | 1.86 | % | 1.86 | % | 1.87 | % | 1.88 | % | |||||||||||||||||||
| Nonaccrual loans and leases (NALs) | 295 | 317 | 299 | 331 | 312 | ||||||||||||||||||||||||
| Nonperforming assets (NPAs) | 290 | 312 | 295 | 308 | 297 | ||||||||||||||||||||||||
(1) Reflects Huntington's October 1, 2025 adoption of Accounting Standards Update (ASU) 2025-08 applicable to purchased loans whereby non-PCD loans acquired in a business combination are deemed "purchased seasoned loans" and subject to the gross-approach resulting in recognition of an allowance for credit losses at acquisition.
| December 31, | September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
| (dollar amounts in millions) | 2025 | 2025 | 2025 | 2025 | 2024 | ||||||||||||||||||||||||
| Allocation of allowance for credit losses | |||||||||||||||||||||||||||||
| Commercial | |||||||||||||||||||||||||||||
| Commercial and industrial | $ | 1,070 | $ | 1,084 | $ | 1,068 | $ | 1,017 | $ | 947 | |||||||||||||||||||
| Commercial real estate | 569 | 419 | 417 | 443 | 473 | ||||||||||||||||||||||||
| Lease financing | 92 | 65 | 63 | 60 | 64 | ||||||||||||||||||||||||
| Total commercial | 1,731 | 1,568 | 1,548 | 1,520 | 1,484 | ||||||||||||||||||||||||
| Consumer | |||||||||||||||||||||||||||||
| Residential mortgage | 205 | 204 | 208 | 199 | 205 | ||||||||||||||||||||||||
| Automobile | 181 | 172 | 161 | 150 | 145 | ||||||||||||||||||||||||
| Home equity | 149 | 160 | 153 | 140 | 148 | ||||||||||||||||||||||||
RV and marine | 136 | 141 | 143 | 146 | 150 | ||||||||||||||||||||||||
| Other consumer | 135 | 129 | 118 | 108 | 112 | ||||||||||||||||||||||||
| Total consumer | 806 | 806 | 783 | 743 | 760 | ||||||||||||||||||||||||
| Total allowance for loan and lease losses | 2,537 | 2,374 | 2,331 | 2,263 | 2,244 | ||||||||||||||||||||||||
| Allowance for unfunded lending commitments | 206 | 188 | 184 | 215 | 202 | ||||||||||||||||||||||||
| Total allowance for credit losses | $ | 2,743 | $ | 2,562 | $ | 2,515 | $ | 2,478 | $ | 2,446 | |||||||||||||||||||
12
Huntington Bancshares Incorporated
Quarterly Net Charge-Off Analysis
(Unaudited)
| Three Months Ended | |||||||||||||||||||||||||||||
| December 31, | September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
| (dollar amounts in millions) | 2025 | 2025 | 2025 | 2025 | 2024 | ||||||||||||||||||||||||
| Net charge-offs (recoveries) by loan and lease type: | |||||||||||||||||||||||||||||
| Commercial: | |||||||||||||||||||||||||||||
| Commercial and industrial | $ | 40 | $ | 39 | $ | 32 | $ | 48 | $ | 52 | |||||||||||||||||||
| Commercial real estate | 8 | (4) | (3) | (8) | (2) | ||||||||||||||||||||||||
| Lease financing | (8) | 1 | 2 | 4 | 1 | ||||||||||||||||||||||||
| Total commercial | 40 | 36 | 31 | 44 | 51 | ||||||||||||||||||||||||
| Consumer: | |||||||||||||||||||||||||||||
| Residential mortgage | — | — | 1 | — | — | ||||||||||||||||||||||||
| Automobile | 14 | 10 | 7 | 13 | 12 | ||||||||||||||||||||||||
| Home equity | — | 1 | — | — | — | ||||||||||||||||||||||||
RV and marine | 6 | 4 | 5 | 7 | 7 | ||||||||||||||||||||||||
| Other consumer | 29 | 24 | 22 | 22 | 27 | ||||||||||||||||||||||||
| Total consumer | 49 | 39 | 35 | 42 | 46 | ||||||||||||||||||||||||
| Total net charge-offs | $ | 89 | $ | 75 | $ | 66 | $ | 86 | $ | 97 | |||||||||||||||||||
| Net charge-offs (recoveries) - annualized percentages: | |||||||||||||||||||||||||||||
| Commercial: | |||||||||||||||||||||||||||||
| Commercial and industrial | 0.24 | % | 0.25 | % | 0.22 | % | 0.33 | % | 0.39 | % | |||||||||||||||||||
| Commercial real estate | 0.21 | (0.13) | (0.14) | (0.26) | (0.08) | ||||||||||||||||||||||||
| Lease financing | (0.53) | 0.04 | 0.12 | 0.33 | 0.06 | ||||||||||||||||||||||||
| Total commercial | 0.18 | 0.18 | 0.16 | 0.24 | 0.29 | ||||||||||||||||||||||||
| Consumer: | |||||||||||||||||||||||||||||
| Residential mortgage | 0.01 | 0.01 | 0.01 | — | 0.01 | ||||||||||||||||||||||||
| Automobile | 0.36 | 0.26 | 0.19 | 0.35 | 0.32 | ||||||||||||||||||||||||
| Home equity | (0.01) | 0.01 | 0.01 | — | (0.02) | ||||||||||||||||||||||||
RV and marine | 0.45 | 0.30 | 0.33 | 0.45 | 0.43 | ||||||||||||||||||||||||
| Other consumer | 5.22 | 4.92 | 4.86 | 4.89 | 6.51 | ||||||||||||||||||||||||
| Total consumer | 0.33 | 0.27 | 0.25 | 0.29 | 0.32 | ||||||||||||||||||||||||
| Net charge-offs as a % of average loans and leases | 0.24 | % | 0.22 | % | 0.20 | % | 0.26 | % | 0.30 | % | |||||||||||||||||||
13
Huntington Bancshares Incorporated
Quarterly Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs) (1)
(Unaudited)
| December 31, | September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
| (dollar amounts in millions) | 2025 | 2025 | 2025 | 2025 | 2024 | ||||||||||||||||||||||||
| Nonaccrual loans and leases (NALs): | |||||||||||||||||||||||||||||
| Commercial and industrial | $ | 562 | $ | 455 | $ | 489 | $ | 413 | $ | 457 | |||||||||||||||||||
| Commercial real estate | 133 | 131 | 138 | 118 | 118 | ||||||||||||||||||||||||
| Lease financing | 8 | 10 | 10 | 11 | 10 | ||||||||||||||||||||||||
| Residential mortgage | 107 | 97 | 93 | 90 | 83 | ||||||||||||||||||||||||
| Automobile | 6 | 6 | 5 | 4 | 6 | ||||||||||||||||||||||||
| Home equity | 113 | 108 | 105 | 110 | 107 | ||||||||||||||||||||||||
| RV and marine | 2 | 1 | 2 | 2 | 2 | ||||||||||||||||||||||||
| Total nonaccrual loans and leases | 931 | 808 | 842 | 748 | 783 | ||||||||||||||||||||||||
| Other real estate, net | 13 | 10 | 10 | 8 | 8 | ||||||||||||||||||||||||
| Other NPAs (1) | 1 | 3 | — | 48 | 31 | ||||||||||||||||||||||||
| Total nonperforming assets | $ | 945 | $ | 821 | $ | 852 | $ | 804 | $ | 822 | |||||||||||||||||||
| Nonaccrual loans and leases as a % of total loans and leases | 0.62 | % | 0.59 | % | 0.62 | % | 0.56 | % | 0.60 | % | |||||||||||||||||||
| NPA ratio (2) | 0.63 | 0.60 | 0.63 | 0.61 | 0.63 | ||||||||||||||||||||||||
| (NPA+90days)/(Loan+OREO) (3) | 0.82 | 0.76 | 0.81 | 0.77 | 0.82 | ||||||||||||||||||||||||
| Three Months Ended | |||||||||||||||||||||||||||||
| December 31, | September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
| (dollar amounts in millions) | 2025 | 2025 | 2025 | 2025 | 2024 | ||||||||||||||||||||||||
| Nonperforming assets, beginning of period | $ | 821 | $ | 852 | $ | 804 | $ | 822 | $ | 784 | |||||||||||||||||||
Acquired nonperforming assets | 81 | — | — | — | — | ||||||||||||||||||||||||
| New nonperforming assets | 300 | 252 | 343 | 250 | 271 | ||||||||||||||||||||||||
| Returns to accruing status | (22) | (25) | (27) | (31) | (46) | ||||||||||||||||||||||||
| Charge-offs | (75) | (62) | (57) | (55) | (37) | ||||||||||||||||||||||||
| Payments | (141) | (167) | (203) | (178) | (146) | ||||||||||||||||||||||||
| Sales | (19) | (29) | (8) | (4) | (4) | ||||||||||||||||||||||||
| Nonperforming assets, end of period | $ | 945 | $ | 821 | $ | 852 | $ | 804 | $ | 822 | |||||||||||||||||||
(1)Other nonperforming assets include certain impaired securities and/or nonaccrual loans held-for-sale.
(2)Nonperforming assets divided by the sum of loans and leases, net other real estate owned, and other NPAs.
(3)The sum of nonperforming assets and total accruing loans and leases past due 90 days or more divided by the sum of loans and leases and other real estate owned.
14
Huntington Bancshares Incorporated
Quarterly Accruing Past Due Loans and Leases
(Unaudited)
| December 31, | September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
| (dollar amounts in millions) | 2025 | 2025 | 2025 | 2025 | 2024 | ||||||||||||||||||||||||
| Accruing loans and leases past due 90+ days: | |||||||||||||||||||||||||||||
| Commercial and industrial | $ | 1 | $ | 1 | $ | 4 | $ | 2 | $ | 3 | |||||||||||||||||||
| Lease financing | 9 | 6 | 14 | 8 | 11 | ||||||||||||||||||||||||
| Residential mortgage (excluding loans guaranteed by the U.S. Government) | 46 | 35 | 40 | 29 | 34 | ||||||||||||||||||||||||
| Automobile | 14 | 12 | 10 | 8 | 12 | ||||||||||||||||||||||||
| Home equity | 16 | 20 | 18 | 18 | 20 | ||||||||||||||||||||||||
RV and marine | 4 | 3 | 2 | 3 | 4 | ||||||||||||||||||||||||
| Other consumer | 6 | 5 | 4 | 4 | 4 | ||||||||||||||||||||||||
| Total, excl. loans guaranteed by the U.S. Government | 96 | 82 | 92 | 72 | 88 | ||||||||||||||||||||||||
| Add: loans guaranteed by U.S. Government | 186 | 152 | 149 | 148 | 151 | ||||||||||||||||||||||||
| Total accruing loans and leases past due 90+ days, including loans guaranteed by the U.S. Government | $ | 282 | $ | 234 | $ | 241 | $ | 220 | $ | 239 | |||||||||||||||||||
| Ratios: | |||||||||||||||||||||||||||||
| Excluding loans guaranteed by the U.S. Government, as a percent of total loans and leases | 0.06 | % | 0.06 | % | 0.07 | % | 0.05 | % | 0.07 | % | |||||||||||||||||||
| Guaranteed by U.S. Government, as a percent of total loans and leases | 0.12 | 0.11 | 0.11 | 0.11 | 0.12 | ||||||||||||||||||||||||
| Including loans guaranteed by the U.S. Government, as a percent of total loans and leases | 0.19 | 0.17 | 0.18 | 0.17 | 0.18 | ||||||||||||||||||||||||
15
Huntington Bancshares Incorporated
Quarterly Capital Under Current Regulatory Standards (Basel III)
(Unaudited)
| December 31, | September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
| (dollar amounts in millions) | 2025 | 2025 | 2025 | 2025 | 2024 | ||||||||||||||||||||||||
| Common equity tier 1 risk-based capital ratio: (1) | |||||||||||||||||||||||||||||
| Total Huntington shareholders’ equity | $ | 24,342 | $ | 22,248 | $ | 20,928 | $ | 20,434 | $ | 19,740 | |||||||||||||||||||
| Regulatory capital adjustments: | |||||||||||||||||||||||||||||
| CECL transitional amount (2) | — | — | — | — | 109 | ||||||||||||||||||||||||
| Shareholders’ preferred equity and related surplus | (2,741) | (2,741) | (1,999) | (1,999) | (1,999) | ||||||||||||||||||||||||
| Accumulated other comprehensive loss | 1,904 | 2,065 | 2,241 | 2,422 | 2,866 | ||||||||||||||||||||||||
| Goodwill and other intangibles, net of taxes | (5,999) | (5,481) | (5,508) | (5,520) | (5,534) | ||||||||||||||||||||||||
| Deferred tax assets from tax loss and credit carryforwards | (230) | (167) | (123) | (68) | (55) | ||||||||||||||||||||||||
| Common equity tier 1 capital | 17,276 | 15,924 | 15,539 | 15,269 | 15,127 | ||||||||||||||||||||||||
| Additional tier 1 capital | |||||||||||||||||||||||||||||
| Shareholders’ preferred equity and related surplus | 2,741 | 2,741 | 1,999 | 1,999 | 1,999 | ||||||||||||||||||||||||
| Tier 1 capital | 20,017 | 18,665 | 17,538 | 17,268 | 17,126 | ||||||||||||||||||||||||
| Long-term debt and other tier 2 qualifying instruments | 1,481 | 1,477 | 1,606 | 1,641 | 1,641 | ||||||||||||||||||||||||
| Qualifying allowance for loan and lease losses | 2,085 | 1,880 | 1,859 | 1,811 | 1,798 | ||||||||||||||||||||||||
| Tier 2 capital | 3,566 | 3,357 | 3,465 | 3,452 | 3,439 | ||||||||||||||||||||||||
| Total risk-based capital | $ | 23,583 | $ | 22,022 | $ | 21,003 | $ | 20,720 | $ | 20,565 | |||||||||||||||||||
| Risk-weighted assets (RWA) (1) | $ | 166,651 | $ | 150,222 | $ | 148,602 | $ | 144,632 | $ | 143,650 | |||||||||||||||||||
| Common equity tier 1 risk-based capital ratio (1) | 10.4 | % | 10.6 | % | 10.5 | % | 10.6 | % | 10.5 | % | |||||||||||||||||||
| Other regulatory capital data: | |||||||||||||||||||||||||||||
| Tier 1 leverage ratio (1) | 9.2 | 9.0 | 8.5 | 8.5 | 8.6 | ||||||||||||||||||||||||
| Tier 1 risk-based capital ratio (1) | 12.0 | 12.4 | 11.8 | 11.9 | 11.9 | ||||||||||||||||||||||||
| Total risk-based capital ratio (1) | 14.2 | 14.7 | 14.1 | 14.3 | 14.3 | ||||||||||||||||||||||||
| Reconciliation of Non-GAAP Measure (3) | |||||||||||||||||||||||||||||
| Common equity tier 1 (CET1) capital (A) | $ | 17,276 | $ | 15,924 | $ | 15,539 | $ | 15,269 | $ | 15,127 | |||||||||||||||||||
| Add: Accumulated other comprehensive income (loss) (AOCI) | (1,904) | (2,065) | (2,241) | (2,422) | (2,866) | ||||||||||||||||||||||||
| Less: AOCI cash flow hedge | 27 | 16 | (7) | (90) | (267) | ||||||||||||||||||||||||
| Adjusted common equity tier 1 (B) | 15,345 | 13,843 | 13,305 | 12,937 | 12,528 | ||||||||||||||||||||||||
| Risk-weighted assets (C) | 166,651 | 150,222 | 148,602 | 144,632 | 143,650 | ||||||||||||||||||||||||
| CET1 ratio (A/C) | 10.4 | % | 10.6 | % | 10.5 | % | 10.6 | % | 10.5 | % | |||||||||||||||||||
| Adjusted CET1 ratio (B/C) | 9.2 | 9.2 | 9.0 | 8.9 | 8.7 | ||||||||||||||||||||||||
(1)December 31, 2025 figures are estimated.
(2)Huntington elected to temporarily delay certain effects of CECL on regulatory capital pursuant to a rule that allowed BHCs and banks to delay the impact of adopting CECL for two years, followed by a three-year transition period that began January 1, 2022. For periods beginning on or after January 1, 2025, the impact of the CECL deferral was fully phased in, while 75% of the impact of the CECL deferral was phased in at December 31, 2024.
(3)Huntington believes certain non-GAAP financial measures to be helpful in understanding Huntington’s results of operations. The following provides the comparable regulatory financial measure, as well as the reconciliation to the comparable regulatory financial measure.
16
Huntington Bancshares Incorporated
Quarterly Common Stock Summary, Non-Regulatory Capital, and Other Data
(Unaudited)
Quarterly Common Stock Summary
| December 31, | September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
| 2025 | 2025 | 2025 | 2025 | 2024 | |||||||||||||||||||||||||
| Cash dividends declared per common share | $ | 0.155 | $ | 0.155 | $ | 0.155 | $ | 0.155 | $ | 0.155 | |||||||||||||||||||
| Common shares outstanding (in millions): | |||||||||||||||||||||||||||||
| Average - basic | 1,544 | 1,459 | 1,457 | 1,454 | 1,453 | ||||||||||||||||||||||||
| Average - diluted | 1,570 | 1,485 | 1,481 | 1,482 | 1,481 | ||||||||||||||||||||||||
| Ending | 1,568 | 1,459 | 1,459 | 1,457 | 1,454 | ||||||||||||||||||||||||
Tangible book value per common share | $ | 9.89 | $ | 9.54 | $ | 9.13 | $ | 8.80 | $ | 8.33 | |||||||||||||||||||
Non-Regulatory Capital
| December 31, | September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
| (dollar amounts in millions) | 2025 | 2025 | 2025 | 2025 | 2024 | ||||||||||||||||||||||||
| Calculation of tangible equity / asset ratio: | |||||||||||||||||||||||||||||
| Total Huntington shareholders’ equity | $ | 24,342 | $ | 22,248 | $ | 20,928 | $ | 20,434 | $ | 19,740 | |||||||||||||||||||
| Goodwill and other intangible assets | (6,142) | (5,611) | (5,635) | (5,646) | (5,657) | ||||||||||||||||||||||||
| Deferred tax liability on other intangible assets (1) | 30 | 13 | 16 | 18 | 20 | ||||||||||||||||||||||||
| Total tangible equity | 18,230 | 16,650 | 15,309 | 14,806 | 14,103 | ||||||||||||||||||||||||
| Preferred equity | (2,731) | (2,731) | (1,989) | (1,989) | (1,989) | ||||||||||||||||||||||||
| Total tangible common equity | $ | 15,499 | $ | 13,919 | $ | 13,320 | $ | 12,817 | $ | 12,114 | |||||||||||||||||||
| Total assets | $ | 225,106 | $ | 210,228 | $ | 207,742 | $ | 209,596 | $ | 204,230 | |||||||||||||||||||
| Goodwill and other intangible assets | (6,142) | (5,611) | (5,635) | (5,646) | (5,657) | ||||||||||||||||||||||||
| Deferred tax liability on other intangible assets (1) | 30 | 13 | 16 | 18 | 20 | ||||||||||||||||||||||||
| Total tangible assets | $ | 218,994 | $ | 204,630 | $ | 202,123 | $ | 203,968 | $ | 198,593 | |||||||||||||||||||
Shareholders' equity / total assets | 10.8 | % | 10.6 | % | 10.1 | % | 9.7 | % | 9.7 | % | |||||||||||||||||||
| Tangible equity / tangible asset ratio | 8.3 | 8.1 | 7.6 | 7.3 | 7.1 | ||||||||||||||||||||||||
| Tangible common equity / tangible asset ratio | 7.1 | 6.8 | 6.6 | 6.3 | 6.1 | ||||||||||||||||||||||||
Tangible common equity / RWA ratio (2) | 9.3 | 9.3 | 9.0 | 8.9 | 8.4 | ||||||||||||||||||||||||
(1)Deferred tax liability related to other intangible assets is calculated at a 21% tax rate.
(2)Estimated at December 31, 2025.
Other Data
| December 31, | September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
| 2025 | 2025 | 2025 | 2025 | 2024 | |||||||||||||||||||||||||
| Number of employees (Average full-time equivalent) | 20,924 | 20,247 | 20,242 | 20,092 | 20,045 | ||||||||||||||||||||||||
Number of domestic full-service branches (1) | 1,005 | 972 | 971 | 968 | 978 | ||||||||||||||||||||||||
| ATM Count | 1,591 | 1,569 | 1,565 | 1,560 | 1,577 | ||||||||||||||||||||||||
(1)Includes Regional Banking and The Huntington Private Bank offices.
17
Huntington Bancshares Incorporated
Quarterly Common Stock Summary, Non-Regulatory Capital, and Other Data (continued)
(Unaudited)
Return on Average Tangible Common Shareholders' Equity
| Three Months Ended | |||||||||||||||||||||||||||||
| December 31, | September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||
| (dollar amounts in millions) | 2025 | 2025 | 2025 | 2025 | 2024 | ||||||||||||||||||||||||
| Calculation of average tangible common shareholders' equity ratio: | |||||||||||||||||||||||||||||
| Average Huntington common shareholders' equity | $ | 21,165 | $ | 19,197 | $ | 18,559 | $ | 18,007 | $ | 17,979 | |||||||||||||||||||
| Less: Intangible assets and goodwill, net of tax effect | 6,015 | 5,610 | 5,624 | 5,632 | 5,641 | ||||||||||||||||||||||||
| Average tangible common shareholders' equity (A) | $ | 15,150 | $ | 13,587 | $ | 12,935 | $ | 12,375 | $ | 12,338 | |||||||||||||||||||
| Net income applicable to common shares | $ | 476 | $ | 602 | $ | 509 | $ | 500 | $ | 498 | |||||||||||||||||||
| Add: Amortization of intangibles, net of deferred tax | 10 | 8 | 9 | 9 | 9 | ||||||||||||||||||||||||
| Adjusted net income applicable to common shares | $ | 486 | $ | 610 | $ | 518 | $ | 509 | $ | 507 | |||||||||||||||||||
| Adjusted net income applicable to common shares, annualized (B) | $ | 1,928 | $ | 2,420 | $ | 2,078 | $ | 2,064 | $ | 2,021 | |||||||||||||||||||
| Return on average tangible common shareholders' equity (B/A) | 12.7 | % | 17.8 | % | 16.1 | % | 16.7 | % | 16.4 | % | |||||||||||||||||||
18
Huntington Bancshares Incorporated
Consolidated Annual Average Balance Sheets
(Unaudited)
| Annual Average Balances (1) | Change | ||||||||||||||||||||||
| (dollar amounts in millions) | 2025 | 2024 | Amount | Percent | |||||||||||||||||||
| Assets | |||||||||||||||||||||||
| Interest-earning deposits with banks | $ | 11,989 | $ | 11,113 | $ | 876 | 8 | % | |||||||||||||||
| Securities: | |||||||||||||||||||||||
| Trading account securities | 465 | 265 | 200 | 75 | |||||||||||||||||||
| Available-for-sale securities: | |||||||||||||||||||||||
| Taxable | 23,652 | 24,232 | (580) | (2) | |||||||||||||||||||
| Tax-exempt | 3,307 | 2,779 | 528 | 19 | |||||||||||||||||||
| Total available-for-sale securities | 26,959 | 27,011 | (52) | — | |||||||||||||||||||
| Held-to-maturity securities - taxable | 15,906 | 15,478 | 428 | 3 | |||||||||||||||||||
| Other securities | 899 | 789 | 110 | 14 | |||||||||||||||||||
| Total securities | 44,229 | 43,543 | 686 | 2 | |||||||||||||||||||
| Loans held for sale | 790 | 597 | 193 | 32 | |||||||||||||||||||
Loans and leases: (2) | |||||||||||||||||||||||
| Commercial: | |||||||||||||||||||||||
| Commercial and industrial | 61,468 | 52,426 | 9,042 | 17 | |||||||||||||||||||
| Commercial real estate: | |||||||||||||||||||||||
| Commercial | 10,510 | 10,975 | (465) | (4) | |||||||||||||||||||
| Construction | 1,188 | 960 | 228 | 24 | |||||||||||||||||||
| Commercial real estate | 11,698 | 11,935 | (237) | (2) | |||||||||||||||||||
| Lease financing | 5,479 | 5,190 | 289 | 6 | |||||||||||||||||||
| Total commercial | 78,645 | 69,551 | 9,094 | 13 | |||||||||||||||||||
| Consumer: | |||||||||||||||||||||||
| Residential mortgage | 24,585 | 23,956 | 629 | 3 | |||||||||||||||||||
| Automobile | 15,406 | 13,372 | 2,034 | 15 | |||||||||||||||||||
| Home equity | 10,239 | 10,088 | 151 | 1 | |||||||||||||||||||
| RV and marine | 5,869 | 5,979 | (110) | (2) | |||||||||||||||||||
| Other consumer | 1,943 | 1,557 | 386 | 25 | |||||||||||||||||||
| Total consumer | 58,042 | 54,952 | 3,090 | 6 | |||||||||||||||||||
| Total loans and leases | 136,687 | 124,503 | 12,184 | 10 | |||||||||||||||||||
| Total earning assets | 193,695 | 179,756 | 13,939 | 8 | |||||||||||||||||||
| Cash and due from banks | 1,413 | 1,397 | 16 | 1 | |||||||||||||||||||
| Goodwill and other intangible assets | 5,740 | 5,680 | 60 | 1 | |||||||||||||||||||
All other assets | 9,915 | 9,427 | 488 | 5 | |||||||||||||||||||
| Total assets | $ | 210,763 | $ | 196,260 | $ | 14,503 | 7 | % | |||||||||||||||
Liabilities and shareholders' equity | |||||||||||||||||||||||
| Interest-bearing deposits: | |||||||||||||||||||||||
| Demand deposits - interest-bearing | $ | 45,368 | $ | 40,401 | $ | 4,967 | 12 | % | |||||||||||||||
| Money market deposits | 62,137 | 54,702 | 7,435 | 14 | |||||||||||||||||||
| Savings deposits | 15,100 | 15,141 | (41) | — | |||||||||||||||||||
| Time deposits | 13,678 | 15,343 | (1,665) | (11) | |||||||||||||||||||
| Total interest-bearing deposits | 136,283 | 125,587 | 10,696 | 9 | |||||||||||||||||||
| Short-term borrowings | 1,215 | 1,147 | 68 | 6 | |||||||||||||||||||
| Long-term debt | 17,363 | 15,224 | 2,139 | 14 | |||||||||||||||||||
| Total interest-bearing liabilities | 154,861 | 141,958 | 12,903 | 9 | |||||||||||||||||||
| Demand deposits - noninterest-bearing | 29,495 | 29,479 | 16 | — | |||||||||||||||||||
| All other liabilities | 4,905 | 5,123 | (218) | (4) | |||||||||||||||||||
| Total liabilities | 189,261 | 176,560 | 12,701 | 7 | |||||||||||||||||||
| Total Huntington shareholders’ equity | 21,458 | 19,651 | 1,807 | 9 | |||||||||||||||||||
| Non-controlling interest | 44 | 49 | (5) | (10) | |||||||||||||||||||
Total equity | 21,502 | 19,700 | 1,802 | 9 | |||||||||||||||||||
| Total liabilities and equity | $ | 210,763 | $ | 196,260 | $ | 14,503 | 7 | % | |||||||||||||||
(1)Amounts include the effects of hedge and risk management activities associated with the respective asset and liability categories.
(2)Includes nonaccrual loans.
19
Huntington Bancshares Incorporated
Consolidated Annual Net Interest Margin - Interest Income / Expense
(Unaudited)
Annual Interest Income / Expense (1) (2) | |||||||||||||||||
| (dollar amounts in millions) | 2025 | 2024 | 2023 | ||||||||||||||
| Assets | |||||||||||||||||
| Interest-earning deposits with banks | $ | 526 | $ | 598 | $ | 492 | |||||||||||
| Securities: | |||||||||||||||||
| Trading account securities | 17 | 13 | 4 | ||||||||||||||
| Available-for-sale securities: | |||||||||||||||||
| Taxable | 1,023 | 1,251 | 1,016 | ||||||||||||||
| Tax-exempt | 167 | 141 | 132 | ||||||||||||||
| Total available-for-sale securities | 1,190 | 1,392 | 1,148 | ||||||||||||||
| Held-to-maturity securities - taxable | 423 | 385 | 401 | ||||||||||||||
| Other securities | 47 | 42 | 53 | ||||||||||||||
| Total securities | 1,677 | 1,832 | 1,606 | ||||||||||||||
| Loans held for sale | 50 | 40 | 35 | ||||||||||||||
| Loans and leases: | |||||||||||||||||
| Commercial: | |||||||||||||||||
| Commercial and industrial | 3,769 | 3,321 | 2,991 | ||||||||||||||
| Commercial real estate: | |||||||||||||||||
| Commercial | 701 | 821 | 865 | ||||||||||||||
| Construction | 87 | 86 | 107 | ||||||||||||||
| Commercial real estate | 788 | 907 | 972 | ||||||||||||||
| Lease Financing | 365 | 336 | 289 | ||||||||||||||
| Total commercial | 4,922 | 4,564 | 4,252 | ||||||||||||||
| Consumer: | |||||||||||||||||
| Residential mortgage | 1,031 | 943 | 825 | ||||||||||||||
| Automobile | 901 | 726 | 561 | ||||||||||||||
| Home equity | 743 | 780 | 760 | ||||||||||||||
RV and marine | 317 | 310 | 271 | ||||||||||||||
| Other consumer | 208 | 181 | 156 | ||||||||||||||
| Total consumer | 3,200 | 2,940 | 2,573 | ||||||||||||||
| Total loans and leases | 8,122 | 7,504 | 6,825 | ||||||||||||||
| Total earning assets | $ | 10,375 | $ | 9,974 | $ | 8,958 | |||||||||||
| Liabilities | |||||||||||||||||
| Interest-bearing deposits: | |||||||||||||||||
| Demand deposits - interest-bearing | $ | 890 | $ | 858 | $ | 703 | |||||||||||
| Money market deposits | 1,825 | 1,994 | 1,365 | ||||||||||||||
Savings deposits | 50 | 15 | 3 | ||||||||||||||
Time deposits | 517 | 705 | 426 | ||||||||||||||
| Total interest-bearing deposits | 3,282 | 3,572 | 2,497 | ||||||||||||||
| Short-term borrowings | 50 | 69 | 179 | ||||||||||||||
| Long-term debt | 987 | 935 | 801 | ||||||||||||||
| Total interest-bearing liabilities | 4,319 | 4,576 | 3,477 | ||||||||||||||
| Net interest income | $ | 6,056 | $ | 5,398 | $ | 5,481 | |||||||||||
(1)Calculated on a fully-taxable equivalent (FTE) basis, which represents a non-GAAP measure, assuming a 21% tax rate. See page 22 for the FTE adjustment.
(2)Amounts include the effects of hedge and risk management activities associated with the respective asset and liability categories.
20
Huntington Bancshares Incorporated
Consolidated Annual Net Interest Margin - Yield / Rate
(Unaudited)
Annual Average Yield / Rate (1) | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Assets | |||||||||||||||||
| Interest-earning deposits with banks | 4.38 | % | 5.38 | % | 5.30 | % | |||||||||||
| Securities: | |||||||||||||||||
| Trading account securities | 3.75 | 5.04 | 5.14 | ||||||||||||||
| Available-for-sale securities: | |||||||||||||||||
| Taxable | 4.33 | 5.16 | 4.95 | ||||||||||||||
| Tax-exempt | 5.04 | 5.08 | 4.84 | ||||||||||||||
| Total available-for-sale securities | 4.41 | 5.15 | 4.93 | ||||||||||||||
| Held-to-maturity securities - taxable | 2.66 | 2.49 | 2.43 | ||||||||||||||
| Other securities | 5.28 | 5.33 | 5.70 | ||||||||||||||
| Total securities | 3.79 | 4.21 | 3.94 | ||||||||||||||
| Loans held for sale | 6.37 | 6.63 | 6.34 | ||||||||||||||
Loans and leases: (2) | |||||||||||||||||
| Commercial: | |||||||||||||||||
| Commercial and industrial | 6.13 | 6.33 | 6.03 | ||||||||||||||
| Commercial real estate: | |||||||||||||||||
| Commercial | 6.67 | 7.48 | 7.32 | ||||||||||||||
| Construction | 7.30 | 9.01 | 8.12 | ||||||||||||||
| Commercial real estate | 6.74 | 7.60 | 7.40 | ||||||||||||||
| Lease financing | 6.67 | 6.47 | 5.63 | ||||||||||||||
| Total commercial | 6.26 | 6.56 | 6.26 | ||||||||||||||
| Consumer: | |||||||||||||||||
| Residential mortgage | 4.20 | 3.94 | 3.59 | ||||||||||||||
| Automobile | 5.85 | 5.43 | 4.36 | ||||||||||||||
| Home equity | 7.25 | 7.73 | 7.48 | ||||||||||||||
RV and marine | 5.40 | 5.19 | 4.79 | ||||||||||||||
| Other consumer | 10.63 | 11.61 | 11.53 | ||||||||||||||
| Total consumer | 5.51 | 5.35 | 4.85 | ||||||||||||||
| Total loans and leases | 5.94 | 6.03 | 5.64 | ||||||||||||||
| Total earning assets | 5.36 | 5.55 | 5.22 | ||||||||||||||
| Liabilities | |||||||||||||||||
| Interest-bearing deposits: | |||||||||||||||||
| Demand deposits - interest-bearing | 1.96 | % | 2.12 | % | 1.76 | % | |||||||||||
| Money market deposits | 2.94 | 3.64 | 3.04 | ||||||||||||||
Savings deposits | 0.33 | 0.10 | 0.02 | ||||||||||||||
Time deposits | 3.78 | 4.60 | 3.86 | ||||||||||||||
| Total interest-bearing deposits | 2.41 | 2.84 | 2.20 | ||||||||||||||
| Short-term borrowings | 4.11 | 5.99 | 5.81 | ||||||||||||||
| Long-term debt | 5.68 | 6.14 | 6.01 | ||||||||||||||
Total interest-bearing liabilities | 2.79 | 3.22 | 2.68 | ||||||||||||||
| Net interest rate spread | 2.57 | 2.33 | 2.54 | ||||||||||||||
| Impact of noninterest-bearing funds on margin | 0.56 | 0.67 | 0.65 | ||||||||||||||
| Net interest margin | 3.13 | % | 3.00 | % | 3.19 | % | |||||||||||
| Additional Information: | |||||||||||||||||
| Commercial Loan Derivative Impact | |||||||||||||||||
Commercial loans (2) (3) | 6.53 | % | 7.23 | % | 6.95 | % | |||||||||||
| Impact of commercial loan derivatives | (0.27) | (0.67) | (0.69) | ||||||||||||||
| Total commercial - as reported | 6.26 | % | 6.56 | % | 6.26 | % | |||||||||||
| Average SOFR | 4.24 | % | 5.15 | % | 5.00 | % | |||||||||||
Total cost of deposits (4) | 1.98 | % | 2.30 | % | 1.69 | % | |||||||||||
(1)Calculated on a fully-taxable equivalent (FTE) basis, which represents a non-GAAP measure, assuming a 21% tax rate. See page 22 for the FTE adjustment.
(2)Includes nonaccrual loans and leases.
(3)Yield/rate exclude the effects of hedge and risk management activities associated with the respective asset and liability categories.
(4)Includes noninterest-bearing and interest-bearing deposit balances.
21
Huntington Bancshares Incorporated
Selected Annual Income Statement Data
(Unaudited)
| Year Ended December 31, | Change | ||||||||||||||||||||||
| (dollar amounts in millions, except per share data) | 2025 | 2024 | Amount | Percent | |||||||||||||||||||
| Interest income | $ | 10,310 | $ | 9,921 | $ | 389 | 4 | % | |||||||||||||||
| Interest expense | 4,319 | 4,576 | (257) | (6) | |||||||||||||||||||
| Net interest income | 5,991 | 5,345 | 646 | 12 | |||||||||||||||||||
| Provision for credit losses | 463 | 420 | 43 | 10 | |||||||||||||||||||
| Net interest income after provision for credit losses | 5,528 | 4,925 | 603 | 12 | |||||||||||||||||||
| Payments and cash management revenue | 664 | 620 | 44 | 7 | |||||||||||||||||||
| Wealth and asset management revenue | 409 | 364 | 45 | 12 | |||||||||||||||||||
| Customer deposit and loan fees | 390 | 334 | 56 | 17 | |||||||||||||||||||
| Capital markets and advisory fees | 346 | 327 | 19 | 6 | |||||||||||||||||||
| Mortgage banking income | 141 | 130 | 11 | 8 | |||||||||||||||||||
| Insurance income | 81 | 77 | 4 | 5 | |||||||||||||||||||
| Leasing revenue | 66 | 79 | (13) | (16) | |||||||||||||||||||
| Net gains (losses) on sales of securities | (58) | (21) | (37) | NM | |||||||||||||||||||
| Other noninterest income | 136 | 130 | 6 | 5 | |||||||||||||||||||
| Total noninterest income | 2,175 | 2,040 | 135 | 7 | |||||||||||||||||||
| Personnel costs | 2,995 | 2,701 | 294 | 11 | |||||||||||||||||||
| Outside data processing and other services | 772 | 665 | 107 | 16 | |||||||||||||||||||
| Equipment | 268 | 267 | 1 | — | |||||||||||||||||||
| Net occupancy | 232 | 221 | 11 | 5 | |||||||||||||||||||
| Professional services | 155 | 99 | 56 | 57 | |||||||||||||||||||
| Marketing | 127 | 116 | 11 | 9 | |||||||||||||||||||
| Deposit and other insurance expense | 65 | 114 | (49) | (43) | |||||||||||||||||||
| Amortization of intangibles | 46 | 47 | (1) | (2) | |||||||||||||||||||
| Lease financing equipment depreciation | 13 | 15 | (2) | (13) | |||||||||||||||||||
| Other noninterest expense | 342 | 317 | 25 | 8 | |||||||||||||||||||
| Total noninterest expense | 5,015 | 4,562 | 453 | 10 | |||||||||||||||||||
| Income before income taxes | 2,688 | 2,403 | 285 | 12 | |||||||||||||||||||
| Provision for income taxes | 459 | 443 | 16 | 4 | |||||||||||||||||||
| Income after income taxes | 2,229 | 1,960 | 269 | 14 | |||||||||||||||||||
| Income attributable to non-controlling interest | 18 | 20 | (2) | (10) | |||||||||||||||||||
| Net income attributable to Huntington | 2,211 | 1,940 | 271 | 14 | |||||||||||||||||||
| Dividends on preferred shares | 124 | 134 | (10) | (7) | |||||||||||||||||||
Impact of preferred stock redemptions | — | 5 | (5) | NM | |||||||||||||||||||
| Net income applicable to common shares | $ | 2,087 | $ | 1,801 | $ | 286 | 16 | % | |||||||||||||||
| Average common shares - basic | 1,479 | 1,451 | 28 | 2 | |||||||||||||||||||
| Average common shares - diluted | 1,505 | 1,476 | 29 | 2 | |||||||||||||||||||
| Per common share | |||||||||||||||||||||||
| Net income - basic | $ | 1.41 | $ | 1.24 | $ | 0.17 | 14 | % | |||||||||||||||
| Net income - diluted | 1.39 | 1.22 | 0.17 | 14 | |||||||||||||||||||
| Cash dividends declared | 0.62 | 0.62 | — | — | |||||||||||||||||||
| Revenue - fully taxable equivalent (FTE) | |||||||||||||||||||||||
| Net interest income | $ | 5,991 | $ | 5,345 | $ | 646 | 12 | % | |||||||||||||||
FTE adjustment | 65 | 53 | 12 | 23 | |||||||||||||||||||
Net interest income (1) | 6,056 | 5,398 | 658 | 12 | |||||||||||||||||||
| Noninterest income | 2,175 | 2,040 | 135 | 7 | |||||||||||||||||||
Total revenue (1) | $ | 8,231 | $ | 7,438 | $ | 793 | 11 | % | |||||||||||||||
NM - Not Meaningful
(1)Calculated on a fully-taxable equivalent (FTE) basis, which represents a non-GAAP measure, assuming a 21% tax rate.
22
Huntington Bancshares Incorporated
Annual Mortgage Banking Noninterest Income
(Unaudited)
| Year Ended December 31, | |||||||||||||||||
| (dollar amounts in millions) | 2025 | 2024 | 2023 | ||||||||||||||
| Net origination and secondary marketing income | $ | 102 | $ | 83 | $ | 69 | |||||||||||
| Net mortgage servicing income | |||||||||||||||||
| Loan servicing income | 104 | 101 | 94 | ||||||||||||||
| Amortization of capitalized servicing | (68) | (55) | (48) | ||||||||||||||
| Operating income | 36 | 46 | 46 | ||||||||||||||
| MSR valuation adjustment (1) | (3) | 59 | 7 | ||||||||||||||
| Gains (losses) due to MSR hedging | 5 | (59) | (10) | ||||||||||||||
| Net MSR risk management | 2 | — | (3) | ||||||||||||||
Total net mortgage servicing income | 38 | 46 | 43 | ||||||||||||||
| All other | 1 | 1 | (3) | ||||||||||||||
| Mortgage banking income | $ | 141 | $ | 130 | $ | 109 | |||||||||||
| Mortgage origination volume | $ | 8,432 | $ | 7,416 | $ | 7,602 | |||||||||||
| Mortgage origination volume for sale | 5,383 | 4,439 | 4,205 | ||||||||||||||
Third party mortgage loans serviced (2) | $ | 34,407 | $ | 33,696 | $ | 33,237 | |||||||||||
| Mortgage servicing rights (2) | 593 | 573 | 515 | ||||||||||||||
| MSR % of investor servicing portfolio | 1.72 | % | 1.70 | % | 1.55 | % | |||||||||||
(1)The change in fair value for the period represents the MSR valuation adjustment, net of amortization of capitalized servicing.
(2)At period end.
23
Huntington Bancshares Incorporated
Annual Credit Reserves Analysis
(Unaudited)
| Year Ended December 31, | |||||||||||||||||
| (dollar amounts in millions) | 2025 | 2024 | 2023 | ||||||||||||||
| Allowance for loan and lease losses, beginning of period | $ | 2,244 | $ | 2,255 | $ | 2,121 | |||||||||||
Loan and lease charge-offs | (526) | (531) | (454) | ||||||||||||||
| Recoveries of loans and leases previously charged off | 210 | 159 | 181 | ||||||||||||||
| Net loan and lease charge-offs | (316) | (372) | (273) | ||||||||||||||
| Provision for loan and lease losses | 466 | 361 | 407 | ||||||||||||||
| Allowance on PCD loans and leases at acquisition | 71 | — | — | ||||||||||||||
Allowance on purchased seasoned loans and leases at acquisition (1) | 72 | — | — | ||||||||||||||
| Allowance for loan and lease losses, end of period | $ | 2,537 | $ | 2,244 | $ | 2,255 | |||||||||||
| Allowance for unfunded lending commitments, beginning of period | $ | 202 | $ | 145 | $ | 150 | |||||||||||
| Provision (benefit) for unfunded lending commitments | — | 57 | (5) | ||||||||||||||
| Acquired unfunded lending commitments | 4 | — | — | ||||||||||||||
| Allowance for unfunded lending commitments, end of period | 206 | 202 | 145 | ||||||||||||||
| Total allowance for credit losses, end of period | $ | 2,743 | $ | 2,446 | $ | 2,400 | |||||||||||
| Allowance for loan and lease losses (ALLL) as % of: | |||||||||||||||||
| Total loans and leases | 1.70 | % | 1.73 | % | 1.85 | % | |||||||||||
| Nonaccrual loans and leases (NALs) | 272 | 286 | 338 | ||||||||||||||
| Nonperforming assets (NPAs) | 269 | 273 | 317 | ||||||||||||||
| Total allowance for credit losses (ACL) as % of: | |||||||||||||||||
| Total loans and leases | 1.83 | % | 1.88 | % | 1.97 | % | |||||||||||
| Nonaccrual loans and leases (NALs) | 295 | 312 | 360 | ||||||||||||||
| Nonperforming assets (NPAs) | 290 | 297 | 337 | ||||||||||||||
(1) Reflects Huntington's October 1, 2025 adoption of Accounting Standards Update (ASU) 2025-08 applicable to purchased loans whereby non-PCD loans acquired in a business combination are deemed "purchased seasoned loans" and subject to the gross-approach resulting in recognition of an allowance for credit losses at acquisition.
December 31, | |||||||||||||||||
| (dollar amounts in millions) | 2025 | 2024 | 2023 | ||||||||||||||
| Allocation of allowance for credit losses | |||||||||||||||||
| Commercial | |||||||||||||||||
| Commercial and industrial | $ | 1,070 | $ | 947 | $ | 993 | |||||||||||
| Commercial real estate | 569 | 473 | 522 | ||||||||||||||
| Lease financing | 92 | 64 | 48 | ||||||||||||||
| Total commercial | 1,731 | 1,484 | 1,563 | ||||||||||||||
| Consumer | |||||||||||||||||
| Residential mortgage | 205 | 205 | 188 | ||||||||||||||
| Automobile | 181 | 145 | 142 | ||||||||||||||
| Home equity | 149 | 148 | 114 | ||||||||||||||
RV and marine | 136 | 150 | 148 | ||||||||||||||
| Other consumer | 135 | 112 | 100 | ||||||||||||||
| Total consumer | 806 | 760 | 692 | ||||||||||||||
| Total allowance for loan and lease losses | 2,537 | 2,244 | 2,255 | ||||||||||||||
| Allowance for unfunded lending commitments | 206 | 202 | 145 | ||||||||||||||
| Total allowance for credit losses | $ | 2,743 | $ | 2,446 | $ | 2,400 | |||||||||||
24
Huntington Bancshares Incorporated
Annual Net Charge-Off Analysis
(Unaudited)
| Year Ended December 31, | |||||||||||||||||
| (dollar amounts in millions) | 2025 | 2024 | 2023 | ||||||||||||||
| Net charge-offs (recoveries) by loan and lease type: | |||||||||||||||||
| Commercial: | |||||||||||||||||
| Commercial and industrial | $ | 159 | $ | 166 | $ | 107 | |||||||||||
| Commercial real estate | (7) | 52 | 57 | ||||||||||||||
| Lease financing | (1) | (1) | (6) | ||||||||||||||
| Total commercial | 151 | 217 | 158 | ||||||||||||||
| Consumer: | |||||||||||||||||
| Residential mortgage | 1 | 1 | 2 | ||||||||||||||
| Automobile | 44 | 35 | 21 | ||||||||||||||
| Home equity | 1 | (1) | (1) | ||||||||||||||
RV and marine | 22 | 22 | 12 | ||||||||||||||
| Other consumer | 97 | 98 | 81 | ||||||||||||||
| Total consumer | 165 | 155 | 115 | ||||||||||||||
| Total net charge-offs | $ | 316 | $ | 372 | $ | 273 | |||||||||||
Net charge-offs (recoveries) as a percentage of average loans: | |||||||||||||||||
| Commercial: | |||||||||||||||||
| Commercial and industrial | 0.26 | % | 0.32 | % | 0.22 | % | |||||||||||
| Commercial real estate | (0.06) | 0.43 | 0.43 | ||||||||||||||
| Lease financing | (0.01) | (0.03) | (0.12) | ||||||||||||||
| Total commercial | 0.19 | 0.31 | 0.23 | ||||||||||||||
| Consumer: | |||||||||||||||||
| Residential mortgage | 0.01 | 0.01 | 0.01 | ||||||||||||||
| Automobile | 0.29 | 0.26 | 0.16 | ||||||||||||||
| Home equity | 0.01 | (0.01) | (0.01) | ||||||||||||||
RV and marine | 0.38 | 0.36 | 0.21 | ||||||||||||||
| Other consumer | 4.98 | 6.32 | 6.03 | ||||||||||||||
| Total consumer | 0.29 | 0.28 | 0.22 | ||||||||||||||
Net charge-offs as a % of average loans and leases | 0.23 | % | 0.30 | % | 0.23 | % | |||||||||||
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Huntington Bancshares Incorporated
Annual Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)
(Unaudited)
| December 31, | |||||||||||||||||
| (dollar amounts in millions) | 2025 | 2024 | 2023 | ||||||||||||||
| Nonaccrual loans and leases (NALs): | |||||||||||||||||
| Commercial and industrial | $ | 562 | $ | 457 | $ | 344 | |||||||||||
| Commercial real estate | 133 | 118 | 140 | ||||||||||||||
| Lease financing | 8 | 10 | 14 | ||||||||||||||
| Residential mortgage | 107 | 83 | 72 | ||||||||||||||
| Automobile | 6 | 6 | 4 | ||||||||||||||
| Home equity | 113 | 107 | 91 | ||||||||||||||
RV and marine | 2 | 2 | 2 | ||||||||||||||
| Total nonaccrual loans and leases | 931 | 783 | 667 | ||||||||||||||
Other real estate, net | 13 | 8 | 10 | ||||||||||||||
| Other NPAs (1) | 1 | 31 | 34 | ||||||||||||||
Total nonperforming assets | $ | 945 | $ | 822 | $ | 711 | |||||||||||
| Nonaccrual loans and leases as a % of total loans and leases | 0.62 | % | 0.60 | % | 0.55 | % | |||||||||||
NPA ratio (2) | 0.63 | 0.63 | 0.58 | ||||||||||||||
(NPA+90days)/(Loan+OREO) (3) | 0.82 | 0.82 | 0.74 | ||||||||||||||
| December 31, | |||||||||||||||||
| (dollar amounts in millions) | 2025 | 2024 | 2023 | ||||||||||||||
| Nonperforming assets, beginning of period | $ | 822 | $ | 711 | $ | 594 | |||||||||||
Acquired nonperforming assets | 81 | — | — | ||||||||||||||
| New nonperforming assets | 1,145 | 1,104 | 977 | ||||||||||||||
| Returns to accruing status | (105) | (224) | (177) | ||||||||||||||
| Loan and lease losses | (249) | (236) | (231) | ||||||||||||||
| Payments | (689) | (522) | (425) | ||||||||||||||
| Sales and held-for-sale transfers | (60) | (11) | (27) | ||||||||||||||
Nonperforming assets, end of period | $ | 945 | $ | 822 | $ | 711 | |||||||||||
(1)Other nonperforming assets include certain impaired securities and/or nonaccrual loans held-for-sale.
(2)Nonperforming assets divided by the sum of loans and leases, net other real estate owned, and other NPAs.
(3)The sum of nonperforming assets and total accruing loans and leases past due 90 days or more divided by the sum of loans and leases and other real estate.
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