EX-99.23hban20260331_8kex992.htmEX-99.2 Document
Exhibit 99.2
HUNTINGTON BANCSHARES INCORPORATED
Quarterly Financial Supplement
March 31, 2026
Table of Contents
Quarterly Key Statistics
1
Consolidated Balance Sheets
3
Loans and Leases Composition
4
Deposits Composition
5
Consolidated Quarterly Average Balance Sheets
6
Consolidated Quarterly Net Interest Margin - Interest Income / Expense
7
Consolidated Quarterly Net Interest Margin - Yield / Rate
8
Selected Quarterly Income Statement Data
9
Quarterly Mortgage Banking Noninterest Income
10
Quarterly Credit Reserves Analysis
11
Quarterly Net Charge-Off Analysis
12
Quarterly Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)
13
Quarterly Accruing Past Due Loans and Leases
14
Quarterly Capital Under Current Regulatory Standards (Basel III)
15
Quarterly Common Stock Summary, Non-Regulatory Capital, and Other Data
16
Basis of Presentation
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)
March 31,
December 31,
March 31,
Percent Changes vs.
2026
2025
2025
4Q25
1Q25
Net interest income - FTE (1)
$
1,910
$
1,609
$
1,441
19
%
33
%
FTE adjustment
(19)
(17)
(15)
(12)
(27)
Net interest income
1,891
1,592
1,426
19
33
Provision for credit losses
158
123
115
28
37
Noninterest income
682
582
494
17
38
Noninterest expense
1,774
1,420
1,152
25
54
Income before income taxes
641
631
653
2
(2)
Provision for income taxes
114
108
122
6
(7)
Income after income taxes
527
523
531
1
(1)
Income attributable to non-controlling interest
4
4
4
—
—
Net income attributable to Huntington
523
519
527
1
(1)
Dividends on preferred shares
41
43
27
(5)
52
Net income applicable to common shares
$
482
$
476
$
500
1
%
(4)
%
Net income per common share - diluted
$
0.25
$
0.30
$
0.34
(17)
%
(26)
%
Cash dividends declared per common share
0.155
0.155
0.155
—
—
Tangible book value per common share at end of period
9.55
9.89
8.80
(3)
9
Average common shares - basic
1,869
1,544
1,454
21
29
Average common shares - diluted
1,901
1,570
1,482
21
28
Ending common shares outstanding
2,027
1,568
1,457
29
39
Return on average assets
0.81
%
0.93
%
1.04
%
Return on average common shareholders’ equity
7.2
8.9
11.3
Return on average tangible common shareholders’ equity (2)
11.6
12.7
16.7
Net interest margin (1)
3.24
3.15
3.10
Efficiency ratio (3)
67.2
64.2
58.9
Effective tax rate
17.8
17.2
18.6
Average total assets
$
262,170
$
220,230
$
205,087
19
%
28
%
Average earning assets
238,973
202,511
188,299
18
27
Average loans and leases
174,216
146,607
130,862
19
33
Average total deposits
204,616
173,156
161,600
18
27
Average Huntington shareholders’ equity
29,896
23,896
19,997
25
50
Average common shareholders' equity
27,050
21,165
18,007
28
50
Average tangible common shareholders' equity
18,024
15,150
12,375
19
46
Total assets at end of period
285,372
225,106
209,596
27
36
Total Huntington shareholders’ equity at end of period
32,535
24,342
20,434
34
59
NCOs as a % of average loans and leases
0.26
%
0.24
%
0.26
%
NAL ratio
0.71
0.62
0.56
NPA ratio (4)
0.72
0.63
0.61
Allowance for loan and lease losses (ALLL) as a % of total loans and leases at the end of period
1.72
1.70
1.71
Allowance for credit losses (ACL) as a % of total loans and leases at the end of period
1.78
1.83
1.87
Common equity tier 1 risk-based capital ratio (5)
10.2
10.4
10.6
Tangible common equity / tangible asset ratio (6)
7.0
7.1
6.3
See Notes to Quarterly Key Statistics.
1
Notes to Quarterly 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)March 31, 2026 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 16 for reconciliation.
2
Huntington Bancshares Incorporated
Consolidated Balance Sheets
March 31,
December 31,
(dollar amounts in millions)
2026
2025
Percent Changes
(Unaudited)
Assets
Cash and due from banks
$
2,096
$
1,783
18
%
Interest-earning deposits with banks
17,579
12,295
43
Trading account securities
199
63
216
Available-for-sale securities
35,557
26,132
36
Held-to-maturity securities
14,768
15,258
(3)
Other securities
1,281
994
29
Loans held for sale
1,073
1,415
(24)
Loans and leases (1)
188,818
149,642
26
Allowance for loan and lease losses
(3,243)
(2,537)
(28)
Net loans and leases
185,575
147,105
26
Bank-owned life insurance
3,673
2,902
27
Accrued income and other receivables
2,197
2,621
(16)
Premises and equipment
2,138
1,321
62
Goodwill
9,527
5,997
59
Servicing rights and other intangible assets
1,727
752
130
Other assets
7,982
6,468
23
Total assets
$
285,372
$
225,106
27
%
Liabilities and shareholders' equity
Liabilities
Deposits (2)
$
223,482
$
176,610
27
%
Short-term borrowings
1,875
1,261
49
%
Long-term debt
21,594
17,221
25
Other liabilities
5,840
5,635
4
Total liabilities
252,791
200,727
26
Shareholders' equity
Preferred stock
2,881
2,731
5
Common stock
20
16
25
Capital surplus
25,273
17,244
47
Less treasury shares, at cost
(95)
(92)
(3)
Accumulated other comprehensive income (loss)
(2,059)
(1,908)
(8)
Retained earnings
6,515
6,351
3
Total Huntington shareholders’ equity
32,535
24,342
34
Non-controlling interest
46
37
24
Total equity
32,581
24,379
34
Total liabilities and equity
$
285,372
$
225,106
27
%
Common shares authorized (par value of $0.01)
2,250,000,000
2,250,000,000
Common shares outstanding
2,027,130,587
1,567,732,506
Treasury shares outstanding
7,269,138
7,187,541
Preferred stock, authorized shares
6,617,808
6,617,808
Preferred shares outstanding
891,900
885,000
(1)See page 4 for detail of loans and leases.
(2)See page 5 for detail of deposits.
3
Huntington Bancshares Incorporated
Loans and Leases Composition
(Unaudited)
March 31,
December 31,
September 30,
June 30,
March 31,
(dollar amounts in millions)
2026
2025
2025
2025
2025
Ending balances by type:
Total loans and leases
Commercial:
Commercial and industrial
$
89,282
47
%
$
69,442
46
%
$
62,978
45
%
$
60,723
45
%
$
58,948
45
%
Commercial real estate
24,337
13
15,209
10
10,732
8
10,698
8
10,968
8
Lease financing
5,796
3
5,727
4
5,515
4
5,516
4
5,451
4
Total commercial
119,415
63
90,378
60
79,225
57
76,937
57
75,367
57
Consumer:
Residential mortgage
33,458
19
24,777
17
24,502
18
24,527
19
24,369
19
Automobile
15,953
8
16,168
11
15,996
12
15,382
11
14,877
11
Home equity
11,831
6
10,395
7
10,314
7
10,221
8
10,130
8
RV and marine
5,627
3
5,682
4
5,805
4
5,907
4
5,939
4
Other consumer
2,534
1
2,242
1
2,114
2
1,986
1
1,823
1
Total consumer
69,403
37
59,264
40
58,731
43
58,023
43
57,138
43
Total loans and leases
$
188,818
100
%
$
149,642
100
%
$
137,956
100
%
$
134,960
100
%
$
132,505
100
%
Ending balances by business segment:
Consumer & Regional Banking
$
104,578
55
%
$
79,069
53
%
$
75,027
55
%
$
73,887
55
%
$
72,653
55
%
Commercial Banking
84,199
45
70,391
47
62,755
45
60,823
45
59,726
45
Treasury / Other
41
—
182
—
174
—
250
—
126
—
Total loans and leases
$
188,818
100
%
$
149,642
100
%
$
137,956
100
%
$
134,960
100
%
$
132,505
100
%
Average balances by business segment:
Consumer & Regional Banking
$
95,969
55
%
$
77,908
53
%
$
74,306
55
%
$
73,154
55
%
$
72,043
55
%
Commercial Banking
78,029
45
68,388
47
61,373
45
59,806
45
58,588
45
Treasury / Other
218
—
311
—
265
—
211
—
231
—
Total loans and leases
$
174,216
100
%
$
146,607
100
%
$
135,944
100
%
$
133,171
100
%
$
130,862
100
%
4
Huntington Bancshares Incorporated
Deposits Composition
(Unaudited)
March 31,
December 31,
September 30,
June 30,
March 31,
(dollar amounts in millions)
2026
2025
2025
2025
2025
Ending balances by type:
Total deposits
Demand deposits - noninterest-bearing
$
40,839
18
%
$
32,205
18
%
$
28,596
17
%
$
28,656
18
%
$
30,217
18
%
Demand deposits - interest-bearing
61,086
27
48,510
27
46,056
28
45,468
28
44,992
28
Money market deposits
75,554
34
65,123
37
62,837
38
60,998
37
61,608
37
Savings deposits
18,971
9
15,426
9
14,986
9
15,112
9
15,179
9
Time deposits
27,032
12
15,346
9
12,737
8
13,146
8
13,341
8
Total deposits
$
223,482
100
%
$
176,610
100
%
$
165,212
100
%
$
163,380
100
%
$
165,337
100
%
Ending balances by business segment:
Consumer & Regional Banking
$
153,000
69
%
$
117,188
66
%
$
110,043
67
%
$
111,926
68
%
$
112,972
68
%
Commercial Banking
60,775
27
50,657
29
47,651
28
43,691
27
44,090
27
Treasury / Other
9,707
4
8,765
5
7,518
5
7,763
5
8,275
5
Total deposits
$
223,482
100
%
$
176,610
100
%
$
165,212
100
%
$
163,380
100
%
$
165,337
100
%
Average balances by business segment:
Consumer & Regional Banking
$
138,557
67
%
$
114,613
66
%
$
111,138
68
%
$
112,135
69
%
$
110,974
69
%
Commercial Banking
56,622
28
50,470
29
46,346
28
43,288
26
42,714
26
Treasury / Other
9,437
5
8,073
5
7,328
4
8,006
5
7,912
5
Total deposits
$
204,616
100
%
$
173,156
100
%
$
164,812
100
%
$
163,429
100
%
$
161,600
100
%
5
Huntington Bancshares Incorporated
Consolidated Quarterly Average Balance Sheets
(Unaudited)
Quarterly Average Balances (1)
March 31,
December 31,
September 30,
June 30,
March 31,
Percent Changes vs.
(dollar amounts in millions)
2026
2025
2025
2025
2025
4Q25
1Q25
Assets:
Interest-earning deposits with banks
$
15,634
$
12,231
$
11,823
$
12,264
$
11,632
28
%
34
%
Securities:
Trading account securities
235
112
629
634
487
110
(52)
Available-for-sale securities:
Taxable
28,063
22,879
23,485
24,015
24,245
23
16
Tax-exempt
3,441
3,405
3,318
3,251
3,254
1
6
Total available-for-sale securities
31,504
26,284
26,803
27,266
27,499
20
15
Held-to-maturity securities - taxable
14,975
15,397
15,752
16,130
16,358
(3)
(8)
Other securities
1,219
949
888
881
877
28
39
Total securities
47,933
42,742
44,072
44,911
45,221
12
6
Loans held for sale
1,190
931
893
746
584
28
104
Loans and leases: (2)
Commercial:
Commercial and industrial
81,535
67,378
61,440
59,393
57,555
21
42
Commercial real estate
21,138
14,268
10,692
10,785
11,021
48
92
Lease financing
5,754
5,498
5,483
5,458
5,476
5
5
Total commercial
108,427
87,144
77,615
75,636
74,052
24
46
Consumer:
Residential mortgage
30,392
25,098
24,511
24,423
24,299
21
25
Automobile
16,056
16,114
15,693
15,132
14,665
—
9
Home equity
11,325
10,372
10,264
10,196
10,123
9
12
RV and marine
5,631
5,747
5,860
5,921
5,951
(2)
(5)
Other consumer
2,385
2,132
2,001
1,863
1,772
12
35
Total consumer
65,789
59,463
58,329
57,535
56,810
11
16
Total loans and leases
174,216
146,607
135,944
133,171
130,862
19
33
Total earning assets
238,973
202,511
192,732
191,092
188,299
18
27
Cash and due from banks
1,778
1,396
1,445
1,407
1,404
27
27
Goodwill and other intangible assets
9,175
6,043
5,625
5,640
5,651
52
62
All other assets
12,244
10,280
9,925
9,713
9,733
19
26
Total assets
$
262,170
$
220,230
$
209,727
$
207,852
$
205,087
19
%
28
%
Liabilities and shareholders' equity:
Interest-bearing deposits:
Demand deposits - interest-bearing
$
52,985
$
47,185
$
45,980
$
44,677
$
43,582
12
%
22
%
Money market deposits
75,216
65,182
62,009
61,090
60,213
15
25
Savings deposits
18,033
15,360
15,042
15,127
14,866
17
21
Time deposits
22,864
14,661
12,773
13,290
13,993
56
63
Total interest-bearing deposits
169,098
142,388
135,804
134,184
132,654
19
27
Short-term borrowings
1,745
897
1,267
1,261
1,439
95
21
Long-term debt
20,248
17,335
17,433
17,776
16,901
17
20
Total interest-bearing liabilities
191,091
160,620
154,504
153,221
150,994
19
27
Demand deposits - noninterest-bearing
35,518
30,768
29,008
29,245
28,946
15
23
All other liabilities
5,624
4,907
4,826
4,788
5,102
15
10
Total liabilities
232,233
196,295
188,338
187,254
185,042
18
26
Total Huntington shareholders’ equity
29,896
23,896
21,348
20,548
19,997
25
50
Non-controlling interest
41
39
41
50
48
5
(15)
Total equity
29,937
23,935
21,389
20,598
20,045
25
49
Total liabilities and equity
$
262,170
$
220,230
$
209,727
$
207,852
$
205,087
19
%
28
%
(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.
6
Huntington Bancshares Incorporated
Consolidated Quarterly Net Interest Margin - Interest Income / Expense
(Unaudited)
Quarterly Interest Income / Expense (1) (2)
March 31,
December 31,
September 30,
June 30,
March 31,
(dollar amounts in millions)
2026
2025
2025
2025
2025
Assets
Interest-earning deposits with banks
$
141
$
124
$
134
$
139
$
129
Securities:
Trading account securities
2
—
7
6
4
Available-for-sale securities:
Taxable
258
212
246
278
287
Tax-exempt
42
43
41
41
42
Total available-for-sale securities
300
255
287
319
329
Held-to-maturity securities - taxable
99
103
105
107
108
Other securities
16
11
12
12
12
Total securities
417
369
411
444
453
Loans held for sale
18
14
15
12
9
Loans and leases:
Commercial:
Commercial and industrial
1,191
1,023
959
914
873
Commercial real estate
327
233
187
183
185
Lease financing
99
91
93
92
89
Total commercial
1,617
1,347
1,239
1,189
1,147
Consumer:
Residential mortgage
353
269
259
253
250
Automobile
232
241
234
219
207
Home equity
193
184
190
186
183
RV and marine
76
80
80
79
78
Other consumer
58
54
55
51
48
Total consumer
912
828
818
788
766
Total loans and leases
2,529
2,175
2,057
1,977
1,913
Total earning assets
$
3,105
$
2,682
$
2,617
$
2,572
$
2,504
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing
$
246
$
227
$
235
$
223
$
205
Money market deposits
446
437
466
464
458
Savings deposits
30
19
13
11
7
Time deposits
198
137
116
124
140
Total interest-bearing deposits
920
820
830
822
810
Short-term borrowings
16
10
13
13
14
Long-term debt
259
243
251
254
239
Total interest-bearing liabilities
1,195
1,073
1,094
1,089
1,063
Net interest income
$
1,910
$
1,609
$
1,523
$
1,483
$
1,441
(1)Calculated on a fully-taxable equivalent (FTE) basis, which represents a non-GAAP measure, assuming a 21% tax rate. See page 9 for the FTE adjustment.
(2)Amounts include the effects of hedge and risk management activities associated with the respective asset and liability categories.
7
Huntington Bancshares Incorporated
Consolidated Quarterly Net Interest Margin - Yield / Rate
(Unaudited)
Quarterly Average Yield / Rate (1)
March 31,
December 31,
September 30,
June 30,
March 31,
2026
2025
2025
2025
2025
Assets
Interest-earning deposits with banks
3.62
%
4.03
%
4.53
%
4.52
%
4.45
%
Securities:
Trading account securities
3.70
2.58
4.03
3.72
3.67
Available-for-sale securities:
Taxable
3.67
3.72
4.19
4.62
4.73
Tax-exempt
4.86
4.99
5.02
4.93
5.22
Total available-for-sale securities
3.80
3.88
4.29
4.66
4.79
Held-to-maturity securities - taxable
2.65
2.66
2.66
2.66
2.64
Other securities
5.17
4.86
5.15
5.85
5.28
Total securities
3.48
3.46
3.72
3.95
4.01
Loans held for sale
6.19
6.13
6.52
6.43
6.48
Loans and leases: (2)
Commercial:
Commercial and industrial
5.85
5.94
6.11
6.09
6.07
Commercial real estate
6.17
6.39
6.86
6.71
6.72
Lease financing
6.86
6.48
6.69
6.66
6.49
Total commercial
5.96
6.05
6.25
6.22
6.19
Consumer:
Residential mortgage
4.65
4.29
4.23
4.15
4.11
Automobile
5.86
5.93
5.92
5.82
5.71
Home equity
6.89
7.02
7.34
7.32
7.33
RV and marine
5.44
5.53
5.41
5.31
5.34
Other consumer
9.88
10.11
10.82
10.88
11.01
Total consumer
5.59
5.54
5.57
5.49
5.44
Total loans and leases
5.82
5.84
5.96
5.91
5.87
Total earning assets
5.27
5.25
5.39
5.40
5.39
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing
1.88
1.91
2.02
2.00
1.91
Money market deposits
2.41
2.66
2.99
3.05
3.08
Savings deposits
0.68
0.47
0.35
0.28
0.20
Time deposits
3.50
3.69
3.60
3.74
4.06
Total interest-bearing deposits
2.21
2.28
2.43
2.46
2.48
Short-term borrowings
3.83
4.45
3.90
4.37
3.87
Long-term debt
5.09
5.61
5.75
5.69
5.68
Total interest-bearing liabilities
2.53
2.65
2.81
2.85
2.86
Net interest rate spread
2.74
2.60
2.58
2.55
2.53
Impact of noninterest-bearing funds on margin
0.50
0.55
0.55
0.56
0.57
Net interest margin
3.24
%
3.15
%
3.13
%
3.11
%
3.10
%
Additional information:
Commercial Loan Derivative Impact
Commercial loans (2) (3)
6.04
%
6.23
%
6.50
%
6.49
%
6.57
%
Impact of commercial loan derivatives
(0.08)
(0.18)
(0.25)
(0.27)
(0.38)
Total commercial - as reported
5.96
%
6.05
%
6.25
%
6.22
%
6.19
%
Average SOFR
3.66
%
4.00
%
4.33
%
4.32
%
4.33
%
Total cost of deposits (4)
1.82
%
1.88
%
2.00
%
2.02
%
2.03
%
(1)Calculated on a fully-taxable equivalent (FTE) basis, which represents a non-GAAP measure, assuming a 21% tax rate. See page 9 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.
8
Huntington Bancshares Incorporated
Selected Quarterly Income Statement Data
(Unaudited)
Three Months Ended
(dollar amounts in millions, except per share data)
March 31,
December 31,
September 30,
June 30,
March 31,
2026
2025
2025
2025
2025
Interest income
$
3,086
$
2,665
$
2,600
$
2,556
$
2,489
Interest expense
1,195
1,073
1,094
1,089
1,063
Net interest income
1,891
1,592
1,506
1,467
1,426
Provision for credit losses
158
123
122
103
115
Net interest income after provision for credit losses
1,733
1,469
1,384
1,364
1,311
Payments and cash management revenue
187
170
174
165
155
Wealth and asset management revenue
120
102
104
102
101
Customer deposit and loan fees
110
107
102
95
86
Capital markets and advisory fees
132
101
94
84
67
Mortgage banking income
32
39
43
28
31
Insurance income
21
22
20
19
20
Leasing revenue
13
19
23
10
14
Net gains (losses) on sales of securities
13
—
—
(58)
—
Other noninterest income
54
22
68
26
20
Total noninterest income
682
582
628
471
494
Personnel costs
992
845
757
722
671
Outside data processing and other services
311
222
198
182
170
Equipment
93
67
66
68
67
Net occupancy
85
56
57
54
65
Professional services
44
80
31
22
22
Marketing
37
36
34
28
29
Deposit and other insurance expense
35
(1)
9
20
37
Amortization of intangibles
41
13
11
11
11
Lease financing equipment depreciation
3
3
4
2
4
Other noninterest expense
133
99
79
88
76
Total noninterest expense
1,774
1,420
1,246
1,197
1,152
Income before income taxes
641
631
766
638
653
Provision for income taxes
114
108
133
96
122
Income after income taxes
527
523
633
542
531
Income attributable to non-controlling interest
4
4
4
6
4
Net income attributable to Huntington
523
519
629
536
527
Dividends on preferred shares
41
43
27
27
27
Net income applicable to common shares
$
482
$
476
$
602
$
509
$
500
Average common shares - basic
1,869
1,544
1,459
1,457
1,454
Average common shares - diluted
1,901
1,570
1,485
1,481
1,482
Per common share
Net income - basic
$
0.26
$
0.31
$
0.41
$
0.35
$
0.34
Net income - diluted
0.25
0.30
0.41
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
$
1,891
$
1,592
$
1,506
$
1,467
$
1,426
FTE adjustment
19
17
17
16
15
Net interest income (1)
1,910
1,609
1,523
1,483
1,441
Noninterest income
682
582
628
471
494
Total revenue (1)
$
2,592
$
2,191
$
2,151
$
1,954
$
1,935
(1)Calculated on a fully-taxable equivalent (FTE) basis, which represents a non-GAAP measure, assuming a 21% tax rate.
9
Huntington Bancshares Incorporated
Quarterly Mortgage Banking Noninterest Income
(Unaudited)
Three Months Ended
March 31,
December 31,
September 30,
June 30,
March 31,
Percent Changes vs.
(dollar amounts in millions)
2026
2025
2025
2025
2025
4Q25
1Q25
Net origination and secondary marketing income
$
35
$
28
$
30
$
26
$
18
25
%
94
%
Net mortgage servicing income
Loan servicing income
32
26
26
26
26
23
23
Amortization of capitalized servicing
(21)
(20)
(17)
(18)
(13)
(5)
(62)
Operating income
11
6
9
8
13
83
(15)
MSR valuation adjustment (1)
(5)
13
(1)
—
(15)
(138)
67
Gains (losses) due to MSR hedging
(10)
(8)
4
(6)
15
(25)
(167)
Net MSR risk management
(15)
5
3
(6)
—
(400)
(100)
Total net mortgage servicing income
(4)
11
12
2
13
(136)
(131)
All other
1
—
1
—
—
100
100
Mortgage banking income
$
32
$
39
$
43
$
28
$
31
(18)
%
3
%
Mortgage origination volume
$
2,323
$
2,178
$
2,243
$
2,412
$
1,599
7
%
45
%
Mortgage origination volume for sale
1,457
1,421
1,516
1,508
938
3
55
Third party mortgage loans serviced (2)
$
42,796
$
34,407
$
34,370
$
33,925
$
33,864
24
%
26
%
Mortgage servicing rights (2)
735
593
576
567
564
24
30
MSR % of investor servicing portfolio (2)
1.72
%
1.72
%
1.67
%
1.67
%
1.66
%
—
%
4
%
(1)The change in fair value for the period represents the MSR valuation adjustment, net of amortization of capitalized servicing.
(2)At period end.
10
Huntington Bancshares Incorporated
Quarterly Credit Reserves Analysis
(Unaudited)
Three Months Ended
March 31,
December 31,
September 30,
June 30,
March 31,
(dollar amounts in millions)
2026
2025
2025
2025
2025
Allowance for loan and lease losses, beginning of period
$
2,537
$
2,374
$
2,331
$
2,263
$
2,244
Loan and lease charge-offs
(173)
(145)
(137)
(111)
(133)
Recoveries of loans and leases previously charged off
62
56
62
45
47
Net loan and lease charge-offs
(111)
(89)
(75)
(66)
(86)
Provision for loan and lease losses
250
109
118
134
105
Allowance on purchased credit deteriorated (PCD) loans and leases at acquisition
322
71
—
—
—
Allowance on purchased seasoned loans and leases at acquisition (1)
245
72
—
—
—
Allowance for loan and lease losses, end of period
3,243
2,537
2,374
2,331
2,263
Allowance for unfunded lending commitments, beginning of period
206
188
184
215
202
Provision (benefit) for unfunded lending commitments
(92)
14
4
(31)
13
Allowance for unfunded lending commitments at acquisition
11
4
—
—
—
Allowance for unfunded lending commitments, end of period
125
206
188
184
215
Total allowance for credit losses, end of period
$
3,368
$
2,743
$
2,562
$
2,515
$
2,478
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases
1.72
%
1.70
%
1.72
%
1.73
%
1.71
%
Nonaccrual loans and leases (NALs)
243
272
294
277
302
Nonperforming assets (NPAs)
239
269
289
274
281
Total allowance for credit losses (ACL) as % of:
Total loans and leases
1.78
%
1.83
%
1.86
%
1.86
%
1.87
%
Nonaccrual loans and leases (NALs)
253
295
317
299
331
Nonperforming assets (NPAs)
248
290
312
295
308
(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.
March 31,
December 31,
September 30,
June 30,
March 31,
(dollar amounts in millions)
2026
2025
2025
2025
2025
Allocation of allowance for credit losses
Commercial
Commercial and industrial
$
1,390
$
1,070
$
1,084
$
1,068
$
1,017
Commercial real estate
819
569
419
417
443
Lease financing
96
92
65
63
60
Total commercial
2,305
1,731
1,568
1,548
1,520
Consumer
Residential mortgage
291
205
204
208
199
Automobile
178
181
172
161
150
Home equity
171
149
160
153
140
RV and marine
134
136
141
143
146
Other consumer
164
135
129
118
108
Total consumer
938
806
806
783
743
Total allowance for loan and lease losses
3,243
2,537
2,374
2,331
2,263
Allowance for unfunded lending commitments
125
206
188
184
215
Total allowance for credit losses
$
3,368
$
2,743
$
2,562
$
2,515
$
2,478
11
Huntington Bancshares Incorporated
Quarterly Net Charge-Off Analysis
(Unaudited)
Three Months Ended
March 31,
December 31,
September 30,
June 30,
March 31,
(dollar amounts in millions)
2026
2025
2025
2025
2025
Net charge-offs (recoveries) by loan and lease type:
Commercial:
Commercial and industrial
$
54
$
40
$
39
$
32
$
48
Commercial real estate
2
8
(4)
(3)
(8)
Lease financing
—
(8)
1
2
4
Total commercial
56
40
36
31
44
Consumer:
Residential mortgage
1
—
—
1
—
Automobile
15
14
10
7
13
Home equity
—
—
1
—
—
RV and marine
7
6
4
5
7
Other consumer
32
29
24
22
22
Total consumer
55
49
39
35
42
Total net charge-offs
$
111
$
89
$
75
$
66
$
86
Net charge-offs (recoveries) - annualized percentages:
Commercial:
Commercial and industrial
0.26
%
0.24
%
0.25
%
0.22
%
0.33
%
Commercial real estate
0.03
0.21
(0.13)
(0.14)
(0.26)
Lease financing
0.01
(0.53)
0.04
0.12
0.33
Total commercial
0.21
0.18
0.18
0.16
0.24
Consumer:
Residential mortgage
0.02
0.01
0.01
0.01
—
Automobile
0.38
0.36
0.26
0.19
0.35
Home equity
0.02
(0.01)
0.01
0.01
—
RV and marine
0.51
0.45
0.30
0.33
0.45
Other consumer
5.30
5.22
4.92
4.86
4.89
Total consumer
0.34
0.33
0.27
0.25
0.29
Net charge-offs as a % of average loans and leases
0.26
%
0.24
%
0.22
%
0.20
%
0.26
%
12
Huntington Bancshares Incorporated
Quarterly Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs) (1)
(Unaudited)
March 31,
December 31,
September 30,
June 30,
March 31,
(dollar amounts in millions)
2026
2025
2025
2025
2025
Nonaccrual loans and leases (NALs):
Commercial and industrial
$
824
$
562
$
455
$
489
$
413
Commercial real estate
188
133
131
138
118
Lease financing
9
8
10
10
11
Residential mortgage
185
107
97
93
90
Automobile
6
6
6
5
4
Home equity
117
113
108
105
110
RV and marine
2
2
1
2
2
Other consumer
1
—
—
—
—
Total nonaccrual loans and leases
1,332
931
808
842
748
Other real estate, net
22
13
10
10
8
Other NPAs (1)
3
1
3
—
48
Total nonperforming assets
$
1,357
$
945
$
821
$
852
$
804
Nonaccrual loans and leases as a % of total loans and leases
0.71
%
0.62
%
0.59
%
0.62
%
0.56
%
NPA ratio (2)
0.72
0.63
0.60
0.63
0.61
(NPA+90days)/(Loan+OREO) (3)
0.94
0.82
0.76
0.81
0.77
Three Months Ended
March 31,
December 31,
September 30,
June 30,
March 31,
(dollar amounts in millions)
2026
2025
2025
2025
2025
Nonperforming assets, beginning of period
$
945
$
821
$
852
$
804
$
822
Acquired nonperforming assets
295
81
—
—
—
New nonperforming assets
403
300
252
343
250
Returns to accruing status
(52)
(22)
(25)
(27)
(31)
Charge-offs
(121)
(75)
(62)
(57)
(55)
Payments
(108)
(141)
(167)
(203)
(178)
Sales
(5)
(19)
(29)
(8)
(4)
Nonperforming assets, end of period
$
1,357
$
945
$
821
$
852
$
804
(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.
13
Huntington Bancshares Incorporated
Quarterly Accruing Past Due Loans and Leases
(Unaudited)
March 31,
December 31,
September 30,
June 30,
March 31,
(dollar amounts in millions)
2026
2025
2025
2025
2025
Accruing loans and leases past due 90+ days:
Commercial and industrial
$
2
$
1
$
1
$
4
$
2
Commercial real estate
3
—
—
—
—
Lease financing
5
9
6
14
8
Residential mortgage (excluding loans guaranteed by the U.S. Government)
46
46
35
40
29
Automobile
12
14
12
10
8
Home equity
22
16
20
18
18
RV and marine
3
4
3
2
3
Other consumer
6
6
5
4
4
Total, excl. loans guaranteed by the U.S. Government
99
96
82
92
72
Add: loans guaranteed by U.S. Government
322
186
152
149
148
Total accruing loans and leases past due 90+ days, including loans guaranteed by the U.S. Government
$
421
$
282
$
234
$
241
$
220
Ratios:
Excluding loans guaranteed by the U.S. Government, as a percent of total loans and leases
0.05
%
0.06
%
0.06
%
0.07
%
0.05
%
Guaranteed by U.S. Government, as a percent of total loans and leases
0.17
0.12
0.11
0.11
0.11
Including loans guaranteed by the U.S. Government, as a percent of total loans and leases
0.22
0.19
0.17
0.18
0.17
14
Huntington Bancshares Incorporated
Quarterly Capital Under Current Regulatory Standards (Basel III)
(Unaudited)
March 31,
December 31,
September 30,
June 30,
March 31,
(dollar amounts in millions)
2026
2025
2025
2025
2025
Common equity tier 1 risk-based capital ratio: (1)
Total Huntington shareholders’ equity
$
32,535
$
24,342
$
22,248
$
20,928
$
20,434
Regulatory capital adjustments:
Shareholders’ preferred equity and related surplus
(2,891)
(2,741)
(2,741)
(1,999)
(1,999)
Accumulated other comprehensive loss
2,055
1,904
2,065
2,241
2,422
Goodwill and other intangibles, net of taxes
(10,180)
(5,999)
(5,481)
(5,508)
(5,520)
Deferred tax assets from tax loss and credit carryforwards
(359)
(220)
(167)
(123)
(68)
Common equity tier 1 capital
21,160
17,286
15,924
15,539
15,269
Additional tier 1 capital
Shareholders’ preferred equity and related surplus
2,891
2,741
2,741
1,999
1,999
Tier 1 capital
24,051
20,027
18,665
17,538
17,268
Long-term debt and other tier 2 qualifying instruments
2,126
1,480
1,477
1,606
1,641
Qualifying allowance for loan and lease losses
2,595
2,086
1,880
1,859
1,811
Tier 2 capital
4,721
3,566
3,357
3,465
3,452
Total risk-based capital
$
28,772
$
23,593
$
22,022
$
21,003
$
20,720
Risk-weighted assets (RWA) (1)
$
208,126
$
166,684
$
150,222
$
148,602
$
144,632
Common equity tier 1 risk-based capital ratio (1)
10.2
%
10.4
%
10.6
%
10.5
%
10.6
%
Other regulatory capital data:
Tier 1 leverage ratio (1)
9.5
9.3
9.0
8.5
8.5
Tier 1 risk-based capital ratio (1)
11.6
12.0
12.4
11.8
11.9
Total risk-based capital ratio (1)
13.8
14.2
14.7
14.1
14.3
Reconciliation of Non-GAAP Measure (2)
Common equity tier 1 (CET1) capital (A)
$
21,160
$
17,286
$
15,924
$
15,539
$
15,269
Add: Accumulated other comprehensive income (loss) (AOCI)
(2,055)
(1,904)
(2,065)
(2,241)
(2,422)
Less: AOCI cash flow hedge
(49)
27
16
(7)
(90)
Adjusted common equity tier 1 (B)
19,154
15,355
13,843
13,305
12,937
Risk-weighted assets (C)
208,126
166,684
150,222
148,602
144,632
CET1 ratio (A/C)
10.2
%
10.4
%
10.6
%
10.5
%
10.6
%
Adjusted CET1 ratio (B/C)
9.2
9.2
9.2
9.0
8.9
(1)March 31, 2026 figures are estimated.
(2) 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.
15
Huntington Bancshares Incorporated
Quarterly Common Stock Summary, Non-Regulatory Capital, and Other Data
(Unaudited)
Quarterly Common Stock Summary
March 31,
December 31,
September 30,
June 30,
March 31,
2026
2025
2025
2025
2025
Cash dividends declared per common share
$
0.155
$
0.155
$
0.155
$
0.155
$
0.155
Common shares outstanding (in millions):
Average - basic
1,869
1,544
1,459
1,457
1,454
Average - diluted
1,901
1,570
1,485
1,481
1,482
Ending
2,027
1,568
1,459
1,459
1,457
Tangible book value per common share
$
9.55
$
9.89
$
9.54
$
9.13
$
8.80
Non-Regulatory Capital
March 31,
December 31,
September 30,
June 30,
March 31,
(dollar amounts in millions)
2026
2025
2025
2025
2025
Calculation of tangible equity / asset ratio:
Total Huntington shareholders’ equity
$
32,535
$
24,342
$
22,248
$
20,928
$
20,434
Goodwill and other intangible assets
(10,496)
(6,142)
(5,611)
(5,635)
(5,646)
Deferred tax liability on other intangible assets (1)
203
30
13
16
18
Total tangible equity
22,242
18,230
16,650
15,309
14,806
Preferred equity
(2,881)
(2,731)
(2,731)
(1,989)
(1,989)
Total tangible common equity
$
19,361
$
15,499
$
13,919
$
13,320
$
12,817
Total assets
$
285,372
$
225,106
$
210,228
$
207,742
$
209,596
Goodwill and other intangible assets
(10,496)
(6,142)
(5,611)
(5,635)
(5,646)
Deferred tax liability on other intangible assets (1)
203
30
13
16
18
Total tangible assets
$
275,079
$
218,994
$
204,630
$
202,123
$
203,968
Shareholders' equity / total assets
11.4
%
10.8
%
10.6
%
10.1
%
9.7
%
Tangible equity / tangible asset ratio
8.1
8.3
8.1
7.6
7.3
Tangible common equity / tangible asset ratio
7.0
7.1
6.8
6.6
6.3
Tangible common equity / RWA ratio (2)
9.3
9.3
9.3
9.0
8.9
(1)Deferred tax liability related to other intangible assets is calculated at a 21% tax rate.
(2)Estimated at March 31, 2026.
Other Data
March 31,
December 31,
September 30,
June 30,
March 31,
2026
2025
2025
2025
2025
Number of employees (Average full-time equivalent)
24,641
20,924
20,247
20,242
20,092
Number of domestic full-service branches (1)
1,403
1,005
972
971
968
ATM Count
2,043
1,591
1,569
1,565
1,560
(1)Includes Regional Banking and The Huntington Private Bank offices.
16
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
March 31,
December 31,
September 30,
June 30,
March 31,
(dollar amounts in millions)
2026
2025
2025
2025
2025
Calculation of average tangible common shareholders' equity ratio:
Average Huntington common shareholders' equity
$
27,050
$
21,165
$
19,197
$
18,559
$
18,007
Less: Intangible assets and goodwill, net of tax effect
9,026
6,015
5,610
5,624
5,632
Average tangible common shareholders' equity (A)
$
18,024
$
15,150
$
13,587
$
12,935
$
12,375
Net income applicable to common shares
$
482
$
476
$
602
$
509
$
500
Add: Amortization of intangibles, net of deferred tax
33
10
8
9
9
Adjusted net income applicable to common shares
$
515
$
486
$
610
$
518
$
509
Adjusted net income applicable to common shares, annualized (B)
$
2,089
$
1,928
$
2,420
$
2,078
$
2,064
Return on average tangible common shareholders' equity (B/A)
11.6
%
12.7
%
17.8
%
16.1
%
16.7
%
17
Mentions · how they’re counted
| Category | Underlined | Word counter | Model’s count |
|---|---|---|---|
| AI AI, artificial intelligence, generative AI, machine learning, large language model, LLM | 0 | 0 | 0 |
| Layoffs layoffs, RIF, headcount reduction, workforce optimization, restructuring | 0 | — | 0 |
| Recession recession, downturn, contraction, slowdown | 0 | 0 | 0 |
| Tariffs tariff, trade war, trade barriers, trade restrictions, trade policy | 0 | 0 | 0 |
| Buybacks share repurchase, buyback program | 0 | — | 0 |
Underlines use the same word lists the scores use. AI, recession and tariffs follow Palanor’s word counter, so those counts match it exactly on the same text. Layoffs and buybacks use the terms the model was given. The model’s count is an estimate by meaning, not by string, so it can differ from the underlines.
Not placed in the text
These quotes are stored with a score, but no passage here matches them closely enough to highlight. Rather than point at the wrong passage, they are listed as stored.
Theme · Net interest income growth
“Net interest income - FTE was $1,910 million, a 19% increase compared to the fourth quarter of 2025 and a 33% increase compared to the first quarter of 2025.”
Theme · Balance sheet expansion
“Total assets at end of period were $285,372 million, a 27% increase compared to December 31, 2025.”
Theme · Net interest margin
“Net interest margin was 3.24%, compared to 3.15% for the fourth quarter of 2025 and 3.10% for the first quarter of 2025.”
Theme · Expense increase
“Noninterest expense was $1,774 million, a 25% increase compared to the fourth quarter of 2025 and a 54% increase compared to the first quarter of 2025.”
Theme · Credit quality deterioration
“The NPA ratio was 0.72%, compared to 0.63% for the fourth quarter of 2025 and 0.61% for the first quarter of 2025.”
Theme · Provision for credit losses
“Provision for credit losses was $158 million, a 28% increase compared to the fourth quarter of 2025 and a 37% increase compared to the first quarter of 2025.”
Theme · Shareholder equity growth
“Total Huntington shareholders’ equity at end of period was $32,535 million, a 34% increase compared to December 31, 2025.”
Theme · Capital ratios
“Common equity tier 1 risk-based capital ratio was 10.2%, compared to 10.4% for the fourth quarter of 2025.”
Source: SEC EDGAR · public domain · Highlights by Palanor