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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

______________________________________________________________________________________________________________________________

FORM 8-K

_______________________________________________________________________________________________________________________________

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) July 19, 2024

______________________________________________________________________________________________________________________________

Huntington Bancshares Incorporated

(Exact name of registrant as specified in its charter)

_______________________________________________________________________________________________________________________________


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

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

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

Not Applicable

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

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


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

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

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

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

_______________________________________________________________________________________________________________________________

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


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

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

Emerging growth company

☐

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

Item 2.02. Results of Operations and Financial Condition.

On July 19, 2024, Huntington Bancshares Incorporated (“Huntington”) posted a news release announcing its earnings for the quarter ended June 30, 2024. Also on July 19, 2024, Huntington made a Quarterly Financial Supplement available in the Investor Relations section of Huntington’s website. Copies of Huntington's news release and quarterly financial supplement are attached hereto as Exhibit 99.1 and Exhibit 99.2, respectively, and are incorporated by reference in this Item 2.02.

Huntington’s senior management will host an earnings conference call on July 19, 2024, at 8:00 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 #13747594. Slides will be available in the Investor Relations section of Huntington’s website about an hour prior to the call. A replay of the webcast will be archived in the Investor Relations section of Huntington’s website. A telephone replay will be available approximately two hours after the completion of the call through July 26, 2024 at (877) 660-6853 or (201) 612-7415; conference ID #13747594.

The information contained or incorporated by reference in this Press Release on Form 8-K contains certain forward-looking statements, including, but not limited to, certain plans, expectations, goals, projections, and statements, which are not historical facts and are subject to numerous assumptions, risks, and uncertainties. Statements that do not describe historical or current facts, including statements about beliefs and expectations, are forward-looking statements. Forward-looking statements may be identified by words such as expect, anticipate, believe, intend, estimate, plan, target, goal, or similar expressions, or future or conditional verbs such as will, may, might, should, would, could, or similar variations. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995.

While there is no assurance that any list of risks and uncertainties or risk factors is complete, below are certain factors which could cause actual results to differ materially from those contained or implied in the forward-looking statements: changes in general economic, political, or industry conditions; 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; the impact of pandemics and other catastrophic events or disasters on the global economy and financial market conditions and our business, results of operations, and financial condition; the impacts related to or resulting from bank failures and other volatility, including potential increased regulatory requirements and costs, such as FDIC special assessments, long-term debt requirements and heightened capital requirements, and potential impacts to macroeconomic conditions, which could affect the ability of depository institutions, including us, to attract and retain depositors and to borrow or raise capital; unexpected outflows of uninsured deposits which may require us to sell investment securities at a loss; changing interest rates which could negatively impact the value of our portfolio of investment securities; the loss of value of our investment portfolio which could negatively impact market perceptions of us and could lead to deposit withdrawals; the effects of social media on market perceptions of us and banks generally; cybersecurity risks; uncertainty in U.S. fiscal and monetary policy, including the interest rate policies of the Federal Reserve; volatility and disruptions in global capital 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; the nature, extent, timing, and results of governmental actions, examinations, reviews, reforms, regulations, and interpretations, including those related to the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Basel III regulatory capital reforms, as well as those involving the OCC, Federal Reserve, FDIC, and CFPB; and other factors that may affect the future results of Huntington. Additional factors that could cause results to differ materially from those described above can be found in Huntington’s Annual Report on Form 10-K for the year ended December 31, 2023 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2024, which are on file with the Securities and Exchange Commission (the “SEC”) and available in the “Investor Relations” section of Huntington’s website http://www.huntington.com, under the heading “Publications and Filings” and in other documents Huntington files with the SEC.

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

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

Item 9.01. Financial Statements and Exhibits.

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

(d)Exhibits.

Exhibit 99.1 – News release of Huntington Bancshares Incorporated, dated July 19, 2024.

Exhibit 99.2 – Quarterly Financial Supplement, June 30, 2024.

EXHIBIT INDEX


Exhibit No.			Description

Exhibit 99.1			News release of Huntington Bancshares Incorporated, dated July 19, 2024
Exhibit 99.2			Quarterly Financial Supplement, June 30 , 2024






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

SIGNATURES

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

HUNTINGTON BANCSHARES INCORPORATED

Date:

July 19, 2024

By:

/s/ Zachary Wasserman

Zachary Wasserman

Chief Financial Officer

EX-99.1 2 hban20240630_8kex991.htm EX-99.1 Document

Exhibit 99.1

July 19, 2024

Analysts: Tim Sedabres (timothy.sedabres@huntington.com), 952.745.2766

Media: Tracy Pesho (corpmedia@huntington.com), 216.276.3301

HUNTINGTON BANCSHARES INCORPORATED REPORTS 2024 SECOND-QUARTER EARNINGS

Q2 Results Highlighted by Expansion of Net Interest Income and Fee Revenues, Accelerating Loan and Deposit Growth, and Strong Credit Quality

2024 Second-Quarter Highlights:

•Earnings per common share (EPS) for the quarter were $0.30, higher by $0.04 from the prior quarter, and lower by $0.05 from the year-ago quarter.

•Net interest income increased $25 million, or 2%, from the prior quarter, and decreased $34 million, or 3%, from the year-ago quarter.

•Noninterest income increased $24 million, or 5%, from the prior quarter, to $491 million.

•Cash and cash equivalents and available contingent borrowing capacity totaled $95 billion at June 30, 2024, and represented 204% of estimated uninsured deposits.

•Average total deposits increased $2.9 billion, or 2%, from the prior quarter and $8.0 billion, or 6%, from the year-ago quarter.

◦Ending total deposits increased $1.1 billion, or 1%, from the prior quarter and $6.3 billion, or 4%, from the year-ago quarter.

•Average total loans and leases increased $1.4 billion, or 1%, from the prior quarter to $123.4 billion, and increased $2.0 billion, or 2%, from the year-ago quarter.

◦Average consumer loans increased $757 million and average commercial loans and leases increased $689 million from the prior quarter.

◦Ending total loans increased $1.7 billion, or 1% from the prior quarter and $3.2 billion, or 3%, from the year-ago quarter.

•Net charge-offs of 0.29% of average total loans and leases for the quarter.

•Nonperforming asset ratio of 0.63% at quarter end.

•Allowance for credit losses (ACL) of $2.4 billion, or 1.95% of total loans and leases, at quarter end.

•Common Equity Tier 1 (CET1) risk-based capital ratio was 10.4%, at June 30, 2024, up from 10.2% in the prior quarter. Adjusted Common Equity Tier 1, including the effect of AOCI, was 8.6%, up from 8.5% in the prior quarter.

•Tangible common equity (TCE) ratio of 6.0%, stable from the prior quarter and up from 5.8% a year ago.

•Tangible book value per share of $7.89, up $0.12 or 2% from the prior quarter and $0.56 or 8% from a year ago.

•Huntington completed a $478 million Credit Linked Note ("CLN") transaction during the second quarter related to an approximately $4 billion reference pool of on-balance sheet prime indirect auto loans as part of the company's capital optimization strategy. The transaction reduced risk-weighted assets by approximately $3.0 billion, representing a 76% reduction in the risk-weighting on the selected pool of assets.

•Huntington was recognized by Freddie Mac as a 2024 Home Possible RISE (Recognizing Individuals for Sustained Excellence) Award Winner for excellence with Freddie Mac's affordable lending solutions.

COLUMBUS, Ohio – Huntington Bancshares Incorporated (Nasdaq: HBAN) reported net income for the 2024 second quarter of $474 million, or $0.30 per common share, an increase of $55 million, or $0.04, from the prior quarter, and a decrease of $85 million, or $0.05, from the year-ago quarter.

Return on average assets was 0.98%, return on average common equity was 10.4%, and return on average tangible common equity (ROTCE) was 16.1%.

CEO Commentary:

“Our second quarter results were highlighted by an expansion in revenue from the prior quarter, including in both net interest income and noninterest income,” said Steve Steinour, chairman, president, and CEO. “We delivered accelerated loan growth in the quarter and continued our trend of increasing deposit balances.

"Huntington is operating from a position of strength given the disciplined management actions the company has sustained over many years. Our liquidity and capital profile is robust and supports our continued focus on executing organic growth initiatives. This proactive approach allows us to support our clients and expand our banking relationships. Over the past three quarters we have invested considerably into numerous new revenue producing opportunities, and these investments are delivering organic growth trends."

"Credit quality continued to perform very well in the quarter and we were pleased with the recent CCAR stress test results which were highlighted by our top quartile performance for stressed credit losses. For nearly a decade Huntington has maintained CCAR credit loss estimates in the top quartile compared to peers with low relative loss estimates. This demonstrates the benefit of our consistent management of our aggregate moderate-to-low risk appetite."

"We are focused on delivering on our long-term strategic goals. Our solid capital levels and robust liquidity profile enable us to continue to deliver accelerated loan growth. This outlook is supported by both our existing and new teams across the company and is expected to drive higher revenues over the second half of the year, with continued momentum into 2025 and beyond."

Table 1 – Earnings Performance Summary


	2024						2023
(in millions, except per share data)	Second			First			Fourth			Third			Second
	Quarter			Quarter			Quarter			Quarter			Quarter
Net income attributable to Huntington	$	474		$	419		$	243		$	547		$	559
Diluted earnings per common share	0.30			0.26			0.15			0.35			0.35

Return on average assets	0.98		%	0.89		%	0.51		%	1.16		%	1.18		%
Return on average common equity	10.4			9.2			5.2			12.4			12.7
Return on average tangible common equity	16.1			14.2			8.4			19.5			19.9
Net interest margin	2.99			3.01			3.07			3.20			3.11
Efficiency ratio	60.8			63.7			77.0			57.0			55.9

Tangible book value per common share	$	7.89		$	7.77		$	7.79		$	7.12		$	7.33
Cash dividends declared per common share	0.155			0.155			0.155			0.155			0.155

Average earning assets	$	178,062		$	173,764		$	171,360		$	170,948		$	174,909
Average loans and leases	123,376			121,930			121,229			120,784			121,345
Average core deposits	147,393			144,960			144,384			143,110			140,736

Tangible common equity / tangible assets ratio	6.0		%	6.0		%	6.1		%	5.7		%	5.8		%
Common equity Tier 1 risk-based capital ratio (1)	10.4			10.2			10.2			10.1			9.8

NCOs as a % of average loans and leases	0.29		%	0.30		%	0.31		%	0.24		%	0.16		%
NAL ratio	0.59			0.58			0.55			0.49			0.42
ACL as a % of total loans and leases	1.95			1.97			1.97			1.96			1.93

(1)June 30, 2024 figure is estimated.

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

Table 2 – Notable Items Influencing Earnings


		Pretax Impact (1)		After-tax Impact (1)
($ in millions, except per share)		Amount			Net Income		EPS (2)
Three Months Ended June 30, 2024					$	474	$	0.30
•	FDIC Deposit Insurance Fund (DIF) special assessment (3)	$	(6)		$	(5)	—

Three Months Ended March 31, 2024					$	419	0.26
•	FDIC DIF special assessment (3)	$	(32)		$	(25)	$	(0.02)
•	Staffing efficiencies expense (4)	(7)			(5)		—

Three Months Ended December 31, 2023					$	243	$	0.15
•	FDIC DIF special assessment (3)	$	(214)		$	(169)	$	(0.11)
•	Staffing efficiencies and corporate real estate consolidation expense (4)	(12)			(9)		(0.01)

(1)Favorable (unfavorable) impact.

(2)EPS reflected on a fully diluted basis.

(3)The fourth quarter of 2023 included the initial estimate of the FDIC DIF special assessment, related to 2023 FDIC closures. The first and second quarters of 2024 included expense related to updated estimates on the uninsured deposit losses and recoverable assets. The expense is recorded in deposit and other insurance expense.

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

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

Table 3 – Net Interest Income and Net Interest Margin Performance Summary


	2024				2023
($ in millions)	Second		First		Fourth		Third		Second		Change (%)
	Quarter		Quarter		Quarter		Quarter		Quarter		LQ		YOY
Net interest income	$	1,312	$	1,287	$	1,316	$	1,368	$	1,346	2	%	(3)	%
FTE adjustment	13		13		11		11		11		—		18
Net interest income - FTE	1,325		1,300		1,327		1,379		1,357		2		(2)
Noninterest income	491		467		405		509		495		5		(1)
Total revenue - FTE	$	1,816	$	1,767	$	1,732	$	1,888	$	1,852	3	%	(2)	%


	2024				2023
	Second		First		Fourth		Third		Second		Change (bp)
Yield / Cost	Quarter		Quarter		Quarter		Quarter		Quarter		LQ	YOY
Total earning assets	5.62	%	5.54	%	5.47	%	5.39	%	5.13	%	8	49
Total loans and leases	6.01		5.92		5.82		5.76		5.51		9	50
Total securities	4.29		4.19		4.23		4.15		3.82		10	47
Total interest-bearing liabilities	3.34		3.23		3.09		2.88		2.66		11	68
Total interest-bearing deposits	2.94		2.85		2.71		2.45		2.06		9	88

Net interest rate spread	2.28		2.31		2.38		2.51		2.47		(3)	(19)
Impact of noninterest-bearing funds on margin	0.71		0.70		0.69		0.69		0.64		1	7
Net interest margin	2.99	%	3.01	%	3.07	%	3.20	%	3.11	%	(2)	(12)

See Page 9 of Quarterly Financial Supplement for additional detail.

Fully-taxable equivalent (FTE) net interest income for the 2024 second quarter decreased $32 million, or 2%, from the 2023 second quarter. The results primarily reflect a 12 basis point decrease in the net interest margin (NIM) to 2.99% and a $7.8 billion, or 6%, increase in average interest-bearing liabilities, partially offset by a $3.2 billion, or 2%, increase in average earning assets. The lower NIM was primarily driven by higher cost of funds given the higher interest rate environment as well as $13.0 billion in average interest-bearing deposit growth, partially offset by higher loan and lease and investment security yields.

Compared to the 2024 first quarter, FTE net interest income increased $25 million, or 2%, driven by an increase average earnings assets of $4.3 billion, or 2%, partially offset by an increase in average interest-bearing liabilities of $4.4 billion, or 3%. The NIM decreased 2 basis points during the quarter driven by higher average interest bearing deposits held at the Federal Reserve Bank.

Table 4 – Average Earning Assets


	2024				2023
($ in billions)	Second		First		Fourth		Third		Second		Change (%)
	Quarter		Quarter		Quarter		Quarter		Quarter		LQ		YOY
Commercial and industrial	$	51.7	$	50.6	$	49.9	$	49.4	$	50.2	2	%	3	%
Commercial real estate	12.2		12.6		12.6		13.0		13.3		(3)		(9)
Lease financing	5.1		5.1		5.1		5.1		5.2		—		(2)
Total commercial	69.0		68.3		67.6		67.5		68.7		1		—

Residential mortgage	23.9		23.7		23.6		23.3		22.8		1		5
Automobile	13.0		12.6		12.6		12.7		12.9		3		—
Home equity	10.1		10.1		10.1		10.1		10.2		—		(1)
RV and marine	6.0		5.9		5.9		5.8		5.5		1		9
Other consumer	1.5		1.4		1.4		1.4		1.3		4		13
Total consumer	54.4		53.7		53.7		53.3		52.7		1		3
Total loans and leases	123.4		121.9		121.2		120.8		121.3		1		2
Total securities	43.0		41.6		39.5		40.0		41.7		3		3
Interest-earning deposits with banks	11.1		9.8		10.0		9.5		11.3		14		(1)
Other earning assets	0.6		0.5		0.6		0.6		0.6		25		2
Total earning assets	$	178.1	$	173.8	$	171.4	$	170.9	$	174.9	2	%	2	%

See Page 7 of Quarterly Financial Supplement for additional detail.

Average earning assets for the 2024 second quarter increased $3.2 billion, or 2%, from the year-ago quarter, primarily reflecting a $2.0 billion, or 2%, increase in average total loans and leases and a $1.3 billion, or 3%, increase in total securities. Average loan and lease balance increases were led by growth in average consumer loans of $1.8 billion, or 3%, primarily driven by a $1.1 billion, or 5%, increase in average residential mortgage loans. Additionally, average commercial loans and leases increased by $267 million, primarily driven by a $1.5 billion, or 3%, increase in average commercial and industrial loans, partially offset by a $1.2 billion, or 9%, decrease in average commercial real estate loans.

Compared to the 2024 first quarter, average earning assets increased $4.3 billion, or 2%, primarily reflecting a $1.4 billion, or 1%, increase in average total loans and leases, a $1.4 billion, or 3%, increase in average securities, and a $1.4 billion, or 14%, increase in average interest-earning deposits with banks. Average loan and lease balance increases were driven by an increase in consumer loan balances of $757 million or 1%, primarily a result of an increase in auto loans. Commercial loans also increased $689 million or 1%, primarily due to an increase in commercial and industrial balances as a result of new initiatives, auto floorplan, and regional and business banking balances, partially offset by a decrease in commercial real estate balances.

Table 5 – Liabilities


	2024				2023
	Second		First		Fourth		Third		Second		Change (%)
($ in billions)	Quarter		Quarter		Quarter		Quarter		Quarter		LQ		YOY
Average balances:
Demand deposits - noninterest-bearing	$	29.6	$	29.9	$	31.2	$	32.8	$	34.6	(1)	%	(14)	%
Demand deposits - interest-bearing	39.1		38.5		39.1		39.8		39.7		2		(2)
Total demand deposits	68.7		68.4		70.3		72.6		74.3		—		(8)
Money market deposits	48.3		46.1		44.0		41.4		38.8		5		25
Savings and other domestic deposits	16.4		16.6		16.9		17.8		18.8		(1)		(13)
Core certificates of deposit	14.0		13.9		13.1		11.3		8.8		1		59
Total core deposits	147.4		145.0		144.4		143.1		140.7		2		5
Other domestic deposits of $250,000 or more	0.4		0.4		0.4		0.4		0.3		(3)		40
Negotiable CDs, brokered and other deposits	5.7		5.3		4.8		4.6		4.6		8		27

Total deposits	$	153.5	$	150.7	$	149.6	$	148.1	$	145.6	2	%	6	%

Short-term borrowings	$	1.2	$	1.3	$	1.9	$	0.9	$	5.2	(7)	%	(77)	%
Long-term debt	15.1		13.8		12.2		13.8		16.3		10		(7)
Total debt	$	16.3	$	15.1	$	14.1	$	14.7	$	21.5	9	%	(24)	%

Total interest-bearing liabilities	$	140.3	$	135.9	$	132.6	$	130.0	$	132.5	3	%	6	%
Total liabilities	175.3		171.0		169.2		167.8		171.8		2		2

Period end balances:






Total core deposits	$	147.5	$	147.3	$	145.5	$	144.2	$	142.9	—	%	3	%



Other deposits	6.9		5.9		5.7		4.7		5.1		15		33
Total deposits	$	154.4	$	153.2	$	151.2	$	148.9	$	148.0	1	%	4	%

See Pages 6-7 of Quarterly Financial Supplement for additional detail.

Average total liabilities for the 2024 second quarter increased $3.4 billion, or 2%, from the year-ago quarter. Average total deposits increased $8.0 billion, or 6%, primarily driven by an increase in average total core deposits of $6.7 billion, or 5%. Average total debt decreased $5.1 billion, or 24%, as part of normal management of funding needs.

Compared to the 2024 first quarter, average total liabilities increased $4.2 billion, or 2%. Average total deposits increased $2.9 billion, or 2%, including average total core deposits increasing $2.4 billion, or 2%. Average total debt increased $1.3 billion, or 9%, primarily driven by the 2024 first quarter auto loan securitization transaction and higher FHLB advances outstanding.

Noninterest Income

Table 6 – Noninterest Income


	2024				2023
	Second		First		Fourth		Third		Second		Change (%)
($ in millions)	Quarter		Quarter		Quarter		Quarter		Quarter		LQ		YOY
Payments and cash management revenue	$	154	$	146	$	150	$	152	$	146	5	%	5	%
Wealth and asset management revenue	90		88		86		79		83		2		8
Customer deposit and loan fees	83		77		80		80		76		8		9
Capital markets and advisory fees	73		56		69		52		62		30		18
Leasing revenue	19		22		29		32		25		(14)		(24)
Mortgage banking income	30		31		23		27		33		(3)		(9)
Insurance income	18		19		19		18		18		(5)		—
Bank owned life insurance income	17		16		16		18		16		6		6
Gain on sale of loans	2		5		1		2		8		(60)		(75)
Net gains (losses) on sales of securities	—		—		(3)		—		(5)		—		NM
Other noninterest income	5		7		(65)		49		33		(29)		(85)
Total noninterest income	$	491	$	467	$	405	$	509	$	495	5	%	(1)	%





Additional information:
Impact of mark-to-market on pay-fixed swaptions (other noninterest income)	$	—	$	—	$	(74)	$	33	$	18	—		NM

NM - Not Meaningful

Total noninterest income for the 2024 second quarter decreased $4 million, or 1%, from the year-ago quarter. Capital markets and advisory fees increased $11 million, or 18%, due to higher merger and acquisition advisory service fees. Payments and cash management revenue increased by $8 million, or 5%, reflecting higher debit card transaction revenue and higher commercial treasury management revenue. Customer deposit and loan fees increased $7 million, or 9%, primarily due to higher deposit fees. Wealth and asset management revenue increased by $7 million, or 8%, reflecting higher fixed annuity commissions as well as higher assets under management. Offsetting these increases, other noninterest income decreased $28 million and gain on sale of loans decreased $6 million. Other noninterest income in the 2023 second quarter included an $18 million mark-to-market benefit on pay-fixed swaptions, while the 2024 second quarter included $9 million of contra-revenue related to premium costs and mark-to-market associated with credit risk transfer transactions, inclusive of the CLN transaction during the second quarter.

Total noninterest income increased $24 million, or 5%, to $491 million for the 2024 second quarter, compared to $467 million for the 2024 first quarter. Capital markets and advisory fees increased $17 million, or 30%, due to higher merger and acquisition advisory service fees. Payments and cash management revenue increased by $8 million, or 5%, reflecting higher debit card transaction revenue and higher commercial treasury management revenue. Customer deposit and loan fees increased $6 million, or 8%, due to higher deposit service charges and loan fees. Partially offsetting these increases, other noninterest income included a $7 million increase in contra-revenue related to premium costs and mark-to-market in the 2024 second quarter compared to the 2024 first quarter associated with credit risk transfer transactions, inclusive of the CLN transaction during the second quarter.

Noninterest Expense

Table 7 – Noninterest Expense


	2024				2023
	Second		First		Fourth		Third		Second		Change (%)
($ in millions)	Quarter		Quarter		Quarter		Quarter		Quarter		LQ		YOY
Personnel costs	$	663	$	639	$	645	$	622	$	613	4	%	8	%
Outside data processing and other services	165		166		157		149		148		(1)		11
Deposit and other insurance expense	25		54		234		25		23		(54)		9
Equipment	62		70		70		65		64		(11)		(3)
Net occupancy	51		57		65		67		54		(11)		(6)
Marketing	27		28		29		29		32		(4)		(16)
Professional services	26		25		35		27		21		4		24
Amortization of intangibles	12		12		12		12		13		—		(8)
Lease financing equipment depreciation	4		4		5		6		8		—		(50)
Other noninterest expense	82		82		96		88		74		—		11
Total noninterest expense	$	1,117	$	1,137	$	1,348	$	1,090	$	1,050	(2)	%	6	%
(in thousands)
Average full-time equivalent employees	19.9		19.7		19.6		19.8		20.2		1	%	(1)	%

Table 8 - Impact of Notable Items


	2024				2023
	Second		First		Fourth		Third		Second
($ in millions)	Quarter		Quarter		Quarter		Quarter		Quarter
Personnel costs	$	—	$	7	$	2	$	8	$	—

Deposit and other insurance expense	6		32		214		—		—
Equipment	—		—		1		—		—
Net occupancy	—		—		8		7		—




Other noninterest expense	—		—		1		—		—
Total noninterest expense	$	6	$	39	$	226	$	15	$	—

Table 9 - Adjusted Noninterest Expense (Non-GAAP)


	2024				2023
	Second		First		Fourth		Third		Second		Change (%)
($ in millions)	Quarter		Quarter		Quarter		Quarter		Quarter		LQ		YOY
Personnel costs	$	663	$	632	$	643	$	614	$	613	5	%	8	%
Outside data processing and other services	165		166		157		149		148		(1)		11
Deposit and other insurance expense	19		22		20		25		23		(14)		(17)
Equipment	62		70		69		65		64		(11)		(3)
Net occupancy	51		57		57		60		54		(11)		(6)
Marketing	27		28		29		29		32		(4)		(16)
Professional services	26		25		35		27		21		4		24
Amortization of intangibles	12		12		12		12		13		—		(8)
Lease financing equipment depreciation	4		4		5		6		8		—		(50)
Other noninterest expense	82		82		95		88		74		—		11
Total adjusted noninterest expense	$	1,111	$	1,098	$	1,122	$	1,075	$	1,050	1	%	6	%

Reported total noninterest expense for the 2024 second quarter increased $67 million, or 6%, from the year-ago quarter. Excluding the impact from Notable Items, noninterest expense increased $61 million, or 6%, primarily driven by higher personnel costs of $50 million, or 8%, primarily due to higher salary, incentive compensation, and benefit expense, and an increase in outside data processing and other services of $17 million, or 11%, reflecting higher technology and data expense.

Reported total noninterest expense decreased $20 million, or 2%, from the 2024 first quarter. Excluding the impact from Notable Items, noninterest expense increased $13 million, or 1%, primarily driven by higher personnel costs of $31 million, or 5%, due primarily to higher revenue-driven compensation and higher salary expense, inclusive of merit. Partially offsetting this increase, equipment expense was lower by $8 million, or 11%, and net occupancy expense was $6 million, or 11%, lower.

Huntington recognized expenses attributable to the FDIC deposit insurance fund special assessment of $6 million in the 2024 second quarter, $32 million in the 2024 first quarter, and $214 million in the 2023 fourth quarter related to 2023 FDIC closures. These expenses are included within Notable Items for each respective quarter.

Credit Quality

Table 10 – Credit Quality Metrics


	2024						2023
($ in millions)	June 30,			March 31,			December 31,			September 30,			June 30,
Total nonaccrual loans and leases	$	733		$	716		$	667		$	592		$	510
Total other real estate, net	10			10			10			14			18
Other NPAs (1)	37			12			34			28			29
Total nonperforming assets	780			738			711			634			557
Accruing loans and leases past due 90+ days	175			183			189			163			169
NPAs + accruing loans & leases past due 90+ days	$	955		$	921		$	900		$	797		$	726
NAL ratio (2)	0.59		%	0.58		%	0.55		%	0.49		%	0.42		%
NPA ratio (3)	0.63			0.60			0.58			0.52			0.46
(NPAs+90 days)/(Loans+OREO)	0.77			0.75			0.74			0.66			0.60


Provision for credit losses	$	100		$	107		$	126		$	99		$	92
Net charge-offs	90			92			94			73			49
Net charge-offs / Average total loans and leases	0.29		%	0.30		%	0.31		%	0.24		%	0.16		%
Allowance for loans and lease losses (ALLL)	$	2,304		$	2,280		$	2,255		$	2,208		$	2,177
Allowance for unfunded lending commitments	119			135			145			160			165
Allowance for credit losses (ACL)	$	2,423		$	2,415		$	2,400		$	2,368		$	2,342
ALLL as a % of:
Total loans and leases	1.85		%	1.86		%	1.85		%	1.83		%	1.80		%
NALs	314			318			338			373			427
NPAs	296			309			317			348			391
ACL as a % of:
Total loans and leases	1.95		%	1.97		%	1.97		%	1.96		%	1.93		%
NALs	331			337			360			400			459
NPAs	311			327			337			373			420

(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 $780 million, or 0.63%, of total loans and leases, OREO and other NPAs, compared to $557 million, or 0.46%, a year-ago. Nonaccrual loans and leases (NALs) were $733 million, or 0.59% of total loans and leases, compared to $510 million, or 0.42% of total loans and leases, a year-ago. The increase in NPAs was driven by increases in commercial real estate and commercial and industrial NALs. On a linked quarter basis, NPAs increased $42 million, or 6%, and NALs increased $17 million, or 2%. The increase in NPAs was primarily driven by increase in commercial real estate NALs.

The provision for credit losses increased $8 million year-over-year and decreased $7 million quarter-over-quarter to $100 million in the 2024 second quarter. Net charge-offs (NCOs) increased $41 million year-over-year and decreased $2 million quarter-over-quarter to $90 million. NCOs represented an annualized 0.29% of average loans and leases in the current quarter, up from 0.16% in the year-ago quarter and down from 0.30% in the prior quarter. The increase in NCOs year-over-year reflects the continued normalization of net charge-offs. Commercial and consumer net charge-offs were 0.33% and 0.24%, respectively, for the 2024 second quarter.

The allowance for loan and lease losses (ALLL) increased $127 million from the year-ago quarter to $2.3 billion, or 1.85% of total loans and leases. The allowance for credit losses (ACL) increased by $81 million from the year-ago quarter to $2.4 billion, or 1.95% of total loans and leases. The ACL increase is driven by loan and lease growth and a modest overall coverage ratio build that is reflective of the current macroeconomic environment. On a linked quarter basis, the ACL increased $8 million, driven by loan growth. The ACL coverage ratio was 1.95%, 2 basis points lower than the prior quarter, reflective of the current macroeconomic environment.

Capital

Table 11 – Capital Ratios


	2024						2023
($ in billions)	June 30,			March 31,			December 31,			September 30,			June 30,
Tangible common equity / tangible assets ratio	6.0		%	6.0		%	6.1		%	5.7		%	5.8		%
Common equity tier 1 risk-based capital ratio (1)	10.4			10.2			10.2			10.1			9.8
Regulatory Tier 1 risk-based capital ratio (1)	12.1			12.0			12.0			11.9			11.6
Regulatory Total risk-based capital ratio (1)	14.3			14.1			14.2			14.1			13.8
Total risk-weighted assets (1)	$	139.4		$	139.6		$	138.7		$	140.7		$	141.4

(1)June 30, 2024 figures are estimated. Amounts are presented on a Basel III standardized approach basis for calculating risk-weighted assets. The capital ratios reflect Huntington’s 2020 election of a five-year transition to delay for two years the full impact of CECL on regulatory capital, followed by a three-year transition period. As of June 30, 2024 and March 31, 2024, 75% of the cumulative CECL deferral has been phased in. As of December 31, 2023, September 30, 2023, and June 30, 2023, 50% of the cumulative CECL deferral has been phased in.

See Page 16 of Quarterly Financial Supplement for additional detail.

The tangible common equity to tangible assets ratio was 6.0% at both June 30, 2024 and March 31, 2024, as an increase in tangible common equity from current period earnings, net of dividends, was offset by an increase in tangible assets. Common Equity Tier 1 (CET1) risk-based capital ratio increased to 10.4%, compared to the prior quarter of 10.2%, due primarily to current period earnings, net of dividends. In addition, risk-weighted assets were modestly lower during the quarter, driven by the CLN transaction, partially offset by loan growth.

Income Taxes

The provision for income taxes was $106 million in the 2024 second quarter compared to $86 million in the 2024 first quarter. The effective tax rates for the 2024 second quarter and 2024 first quarter were 18.2% and 16.8%, respectively. The variance to the linked quarter effective tax rate relates primarily to higher pre-tax income and the impact of discrete tax benefits recognized in the prior quarter.

At June 30, 2024, we had a net federal deferred tax asset of $693 million and a net state deferred tax asset of $114 million.

Conference Call / Webcast Information

Please see the 2024 Second Quarter Quarterly Financial Supplement for additional detailed financial performance metrics. This document can be found on the Investor Relations section of Huntington's website, http://www.huntington.com.

About Huntington

Huntington Bancshares Incorporated is a $196 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 approximately 970 branches in 11 states, with certain businesses operating in extended geographies. Visit Huntington.com for more information.

Caution regarding Forward-Looking Statements

Basis of Presentation

Use of Non-GAAP Financial Measures

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

EX-99.2 3 hban20240630_8kex992.htm EX-99.2 Document

Exhibit 99.2

HUNTINGTON BANCSHARES INCORPORATED

Quarterly Financial Supplement

June 30, 2024

Table of Contents


Quarterly Key Statistics			1

Year to Date Key Statistics			2

Consolidated Balance Sheets			4

Loans and Leases Composition			5

Deposits Composition			6

Consolidated Quarterly Average Balance Sheets			7

Consolidated Quarterly Net Interest Margin - Interest Income / Expense			8

Consolidated Quarterly Net Interest Margin - Yield			9

Selected Quarterly Income Statement Data			10

Quarterly Mortgage Banking Noninterest Income			11

Quarterly Credit Reserves Analysis			12

Quarterly Net Charge-Off Analysis			13

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

Quarterly Accruing Past Due Loans and Leases			15

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

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

Consolidated Year to Date Average Balance Sheets			18

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

Consolidated Year to Date Net Interest Margin - Yield			20

Selected Year to Date Income Statement Data			21

Year to Date Mortgage Banking Noninterest Income			22

Year to Date Credit Reserves Analysis			23

Year to Date Net Charge-Off Analysis			24

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

Notes:

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

Fully-Taxable Equivalent Basis

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

Non-Regulatory Capital Ratios

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

•Tangible common equity to tangible assets, and

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

These non-regulatory capital ratios are viewed by management as useful additional methods of reflecting the level of capital available to withstand unexpected market conditions. Additionally, presentation of these ratios allows readers to compare the Company’s capitalization to other financial services companies. These ratios differ from capital ratios defined by banking regulators principally in that the numerator excludes preferred securities, the nature and extent of which varies among different financial services companies. These ratios are not defined in GAAP or federal banking regulations. As a result, these non-regulatory capital ratios disclosed by the Company may be considered non-GAAP financial measures.

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

Huntington Bancshares Incorporated

Quarterly Key Statistics

(Unaudited)


	Three Months Ended
(dollar amounts in millions, except per share data)	June 30,			March 31,			June 30,			Percent Changes vs.
	2024			2024			2023			1Q24		2Q23
Net interest income (1)	$	1,325		$	1,300		$	1,357		2	%	(2)	%
FTE adjustment	(13)			(13)			(11)			—		(18)
Net interest income	1,312			1,287			1,346			2		(3)
Provision for credit losses	100			107			92			(7)		9
Noninterest income	491			467			495			5		(1)
Noninterest expense	1,117			1,137			1,050			(2)		6
Income before income taxes	586			510			699			15		(16)
Provision for income taxes	106			86			134			23		(21)
Income after income taxes	480			424			565			13		(15)
Income attributable to non-controlling interest	6			5			6			20		—
Net income attributable to Huntington	474			419			559			13		(15)
Dividends on preferred shares	35			36			40			(3)		(13)

Net income applicable to common shares	$	439		$	383		$	519		15	%	(15)

Net income per common share - diluted	$	0.30		$	0.26		$	0.35		15	%	(14)	%
Cash dividends declared per common share	0.155			0.155			0.155			—		—
Tangible book value per common share at end of period	7.89			7.77			7.33			2		8

Average common shares - basic	1,451			1,448			1,446			—		—
Average common shares - diluted	1,474			1,473			1,466			—		1
Ending common shares outstanding	1,452			1,449			1,448			—		—
Return on average assets	0.98		%	0.89		%	1.18		%
Return on average common shareholders’ equity	10.4			9.2			12.7
Return on average tangible common shareholders’ equity (2)	16.1			14.2			19.9
Net interest margin (1)	2.99			3.01			3.11
Efficiency ratio (3)	60.8			63.7			55.9
Effective tax rate	18.2			16.8			19.3
Average total assets	$	194,558		$	190,306		$	190,746		2		2
Average earning assets	178,062			173,764			174,909			2		2
Average loans and leases	123,376			121,930			121,345			1		2

Average total deposits	$	153,578		$	150,728		$	145,559		2		6
Average core deposits (4)	147,393			144,960			140,736			2		5

Average Huntington shareholders’ equity	19,254			19,213			18,844			—		2
Average common total shareholders' equity	16,861			16,819			16,359			—		3
Average tangible common shareholders' equity	11,201			11,151			10,662			—		5
Total assets at end of period	196,310			193,519			188,505			1		4
Total Huntington shareholders’ equity at end of period	19,515			19,322			18,788			1		4

NCOs as a % of average loans and leases	0.29		%	0.30		%	0.16		%
NAL ratio	0.59			0.58			0.42
NPA ratio (5)	0.63			0.60			0.46
Allowance for loan and lease losses (ALLL) as a % of total loans and leases at the end of period	1.85			1.86			1.80
Allowance for credit losses (ACL) as a % of total loans and leases at the end of period	1.95			1.97			1.93
Common equity tier 1 risk-based capital ratio (6)	10.4			10.2			9.8
Tangible common equity / tangible asset ratio (7)	6.0			6.0			5.8

NM - Not Meaningful

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

Huntington Bancshares Incorporated

Year to Date Key Statistics

(Unaudited)


	Six Months Ended June 30,						Change
(dollar amounts in millions, except per share data)	2024			2023			Amount		Percent
Net interest income (1)	$	2,625		$	2,775		$	(150)	(5)	%
FTE adjustment	(26)			(20)			(6)		(30)
Net interest income	2,599			2,755			(156)		(6)
Provision for credit losses	207			177			30		17
Noninterest income	958			1,007			(49)		(5)
Noninterest expense	2,254			2,136			118		6
Income before income taxes	1,096			1,449			(353)		(24)
Provision for income taxes	192			278			(86)		(31)
Income after income taxes	904			1,171			(267)		(23)
Income attributable to non-controlling interest	11			10			1		10
Net income attributable to Huntington	893			1,161			(268)		(23)
Dividends on preferred shares	71			69			2		3

Net income applicable to common shares	$	822		$	1,092		$	(270)	(25)	%

Net income per common share - diluted	$	0.56		$	0.74		$	(0.18)	(24)	%
Cash dividends declared per common share	0.31			0.31			—		—

Average common shares - basic	1,450			1,445			5		—
Average common shares - diluted	1,474			1,468			6		—

Return on average assets	0.93		%	1.25		%
Return on average common shareholders’ equity	9.8			13.6
Return on average tangible common shareholders’ equity (2)	15.1			21.5
Net interest margin (1)	3.00			3.25
Efficiency ratio (3)	62.2			55.7
Effective tax rate	17.5			19.2

Average total assets	$	192,432		$	187,836		$	4,596	2	%
Average earning assets	175,913			172,026			3,887		2
Average loans and leases	122,653			120,885			1,768		1
Average total deposits	152,153			145,850			6,303		4
Average core deposits (4)	146,177			140,906			5,271		4
Average Huntington shareholders’ equity	19,234			18,539			695		4
Average common total shareholders' equity	16,840			16,167			673		4
Average tangible common shareholders' equity	11,176			10,459			717		7

NCOs as a % of average loans and leases	0.30		%	0.17		%
NAL ratio	0.59			0.42
NPA ratio (5)	0.63			0.46

NM - Not Meaningful

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

Notes to the Quarterly and Year to Date Key Statistics

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

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

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

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

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

(6)June 30, 2024 figures are estimated.

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

Huntington Bancshares Incorporated

Consolidated Balance Sheets


	June 30,		December 31,
(dollar amounts in millions)	2024		2023		Percent Changes
	(Unaudited)
Assets
Cash and due from banks	$	1,333	$	1,558	(14)	%


Interest-earning deposits with banks	11,450		8,765		31
Trading account securities	154		125		23
Available-for-sale securities	27,454		25,305		8
Held-to-maturity securities	15,036		15,750		(5)


Other securities	844		725		16
Loans held for sale	668		516		29
Loans and leases (1)	124,422		121,982		2
Allowance for loan and lease losses	(2,304)		(2,255)		(2)
Net loans and leases	122,118		119,727		2
Bank owned life insurance	2,775		2,759		1
Accrued income and other receivables	1,591		1,646		(3)
Premises and equipment	1,095		1,109		(1)
Goodwill	5,561		5,561		—
Servicing rights and other intangible assets	673		672		—
Other assets	5,558		5,150		8
Total assets	$	196,310	$	189,368	4	%

Liabilities and shareholders' equity
Liabilities
Deposits (2)	$	154,367	$	151,230	2	%
Short-term borrowings	187		620		(70)
Long-term debt	16,461		12,394		33
Other liabilities	5,732		5,726		—
Total liabilities	176,747		169,970		4

Shareholders' equity
Preferred stock	2,394		2,394		—
Common stock	15		15		—
Capital surplus	15,425		15,389		—
Less treasury shares, at cost	(90)		(91)		1
Accumulated other comprehensive income (loss)	(2,911)		(2,676)		(9)
Retained earnings	4,682		4,322		8
Total Huntington shareholders’ equity	19,515		19,353		1
Non-controlling interest	48		45		7
Total equity	19,563		19,398		1
Total liabilities and equity	$	196,310	$	189,368	4	%

Common shares authorized (par value of $0.01)	2,250,000,000		2,250,000,000
Common shares outstanding	1,452,432,838		1,448,319,953
Treasury shares outstanding	7,322,727		7,403,008
Preferred stock, authorized shares	6,617,808		6,617,808
Preferred shares outstanding	881,587		881,587

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

(2)See page 6 for detail of deposits.

Huntington Bancshares Incorporated

Loans and Leases Composition

(Unaudited)


	June 30,				March 31,				December 31,				September 30,				June 30,
(dollar amounts in millions)	2024				2024				2023				2023				2023
Ending balances by type:
Total loans and leases
Commercial:
Commercial and industrial	$	52,307	42	%	$	51,500	42	%	$	50,657	42	%	$	49,422	41	%	$	49,834	41	%
Commercial real estate:
Commercial	10,997		9		11,339		9		11,092		9		11,365		10		11,750		10
Construction	936		1		1,003		1		1,330		1		1,303		1		1,416		1
Commercial real estate	11,933		10		12,342		10		12,422		10		12,668		11		13,166		11
Lease financing	5,202		4		5,133		4		5,228		4		5,161		4		5,143		4
Total commercial	69,442		56		68,975		56		68,307		56		67,251		56		68,143		56
Consumer:
Residential mortgage	24,069		19		23,744		20		23,720		20		23,427		19		23,138		19
Automobile	13,233		11		12,662		10		12,482		10		12,724		11		12,819		11
Home equity	10,076		8		10,047		8		10,113		8		10,118		8		10,135		8
RV and marine	6,042		5		5,887		5		5,899		5		5,937		5		5,640		5
Other consumer	1,560		1		1,452		1		1,461		1		1,396		1		1,350		1
Total consumer	54,980		44		53,792		44		53,675		44		53,602		44		53,082		44
Total loans and leases	$	124,422	100	%	$	122,767	100	%	$	121,982	100	%	$	120,853	100	%	$	121,225	100	%


	June 30,				March 31,				December 31,				September 30,				June 30,
(dollar amounts in millions)	2024				2024				2023				2023				2023
Ending balances by business segment:
Consumer & Regional Banking	$	69,328	56	%	$	67,512	55	%	$	67,108	55	%	$	66,202	55	%	$	65,374	54	%
Commercial Banking	54,941		44		54,994		45		54,743		45		54,451		45		55,672		46



Treasury / Other	153		—		261		—		131		—		200		—		179		—
Total loans and leases	$	124,422	100	%	$	122,767	100	%	$	121,982	100	%	$	120,853	100	%	$	121,225	100	%

Average balances by business segment:
Consumer & Regional Banking	$	68,405	56	%	$	67,136	55	%	$	66,638	55	%	$	65,738	55	%	$	64,782	54	%
Commercial Banking	54,748		44		54,584		45		54,395		45		54,873		45		56,375		46



Treasury / Other	223		—		210		—		196		—		173		—		188		—
Total loans and leases	$	123,376	100	%	$	121,930	100	%	$	121,229	100	%	$	120,784	100	%	$	121,345	100	%

Huntington Bancshares Incorporated

Deposits Composition

(Unaudited)


	June 30,				March 31,				December 31,				September 30,				June 30,
(dollar amounts in millions)	2024				2024				2023				2023				2023
Ending balances:
Total deposits by type:
Demand deposits - noninterest-bearing	$	28,636	19	%	$	29,739	19	%	$	30,967	20	%	$	31,666	21	%	$	33,340	23	%
Demand deposits - interest-bearing	39,913		26		39,200		26		39,190		26		39,822		27		40,387		28
Money market deposits	49,182		32		47,520		31		44,947		30		42,996		29		40,534		27
Savings and other domestic deposits	16,175		10		16,728		11		16,722		11		17,350		12		18,294		12
Core certificates of deposit (1)	13,605		9		14,082		9		13,626		9		12,372		8		10,314		7
Total core deposits	147,511		96		147,269		96		145,452		96		144,206		97		142,869		97
Other domestic deposits of $250,000 or more	444		—		487		—		447		—		446		—		381		—
Negotiable CDS, brokered and other deposits	6,412		4		5,469		4		5,331		4		4,215		3		4,778		3

Total deposits	$	154,367	100	%	$	153,225	100	%	$	151,230	100	%	$	148,867	100	%	$	148,028	100	%

Total core deposits:
Commercial	$	61,359	42	%	$	60,184	41	%	$	60,547	42	%	$	61,379	43	%	$	61,450	43	%
Consumer	86,152		58		87,085		59		84,905		58		82,827		57		81,419		57
Total core deposits	$	147,511	100	%	$	147,269	100	%	$	145,452	100	%	$	144,206	100	%	$	142,869	100	%

Total deposits by business segment:

Consumer & Regional Banking	$	110,913	72	%	$	112,032	73	%	$	110,157	73	%	$	108,183	73	%	$	106,502	72	%
Commercial Banking	38,110		25		35,619		23		35,466		23		36,023		24		36,459		25


Treasury / Other	5,344		3		5,574		4		5,607		4		4,661		3		5,067		3
Total deposits	$	154,367	100	%	$	153,225	100	%	$	151,230	100	%	$	148,867	100	%	$	148,028	100	%

Average balances:


Total core deposits:
Commercial	$	61,491	42	%	$	60,260	42	%	$	61,782	43	%	$	62,070	43	%	$	61,304	44	%
Consumer	85,902		58		84,700		58		82,602		57		81,040		57		79,432		56
Total core deposits	$	147,393	100	%	$	144,960	100	%	$	144,384	100	%	$	143,110	100	%	$	140,736	100	%

Average deposits by business segment:

Consumer & Regional Banking	$	110,819	72	%	$	109,263	73	%	$	108,198	72	%	$	106,300	72	%	$	104,593	71	%
Commercial Banking	36,765		24		35,656		23		35,886		24		36,673		25		35,752		25


Treasury / Other	5,994		4		5,809		4		5,570		4		5,177		3		5,214		4
Total deposits	$	153,578	100	%	$	150,728	100	%	$	149,654	100	%	$	148,150	100	%	$	145,559	100	%

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

Huntington Bancshares Incorporated

Consolidated Quarterly Average Balance Sheets

(Unaudited)


	Quarterly Average Balances (1)
	June 30,		March 31,		December 31,		September 30,		June 30,		Percent Changes vs.
(dollar amounts in millions)	2024		2024		2023		2023		2023		1Q24		2Q23
Assets


Interest-earning deposits with banks	$	11,116	$	9,761	$	10,019	$	9,547	$	11,281	14	%	(1)	%
Securities:
Trading account securities	143		133		125		128		34		8		NM
Available-for-sale securities:
Taxable	24,184		22,515		20,056		19,834		20,920		7		16
Tax-exempt	2,684		2,676		2,686		2,807		2,745		—		(2)
Total available-for-sale securities	26,868		25,191		22,742		22,641		23,665		7		14


Held-to-maturity securities - taxable	15,211		15,567		15,947		16,356		16,762		(2)		(9)





Other securities	776		724		727		859		1,263		7		(39)
Total securities	42,998		41,615		39,541		39,984		41,724		3		3
Loans held for sale	572		458		571		633		559		25		2
Loans and leases: (2)
Commercial:
Commercial and industrial	51,724		50,625		49,882		49,448		50,194		2		3
Commercial real estate:
Commercial	11,247		11,365		11,309		11,624		12,062		(1)		(7)
Construction	916		1,198		1,285		1,331		1,280		(24)		(28)
Commercial real estate	12,163		12,563		12,594		12,955		13,342		(3)		(9)
Lease financing	5,071		5,081		5,102		5,050		5,155		—		(2)
Total commercial	68,958		68,269		67,578		67,453		68,691		1		—
Consumer:
Residential mortgage	23,909		23,710		23,573		23,278		22,765		1		5
Automobile	12,989		12,553		12,612		12,747		12,927		3		—
Home equity	10,056		10,072		10,107		10,108		10,154		—		(1)
RV and marine	5,966		5,892		5,934		5,813		5,478		1		9
Other consumer	1,498		1,434		1,425		1,385		1,330		4		13
Total consumer	54,418		53,661		53,651		53,331		52,654		1		3
Total loans and leases	123,376		121,930		121,229		120,784		121,345		1		2
Total earning assets	178,062		173,764		171,360		170,948		174,909		2		2
Cash and due from banks	1,340		1,493		1,508		1,559		1,639		(10)		(18)
Goodwill and other intangible assets	5,685		5,697		5,710		5,722		5,734		—		(1)
All other assets	11,773		11,619		11,607		10,576		10,638		1		11
Allowance for loan and lease losses	(2,302)		(2,267)		(2,223)		(2,206)		(2,174)		(2)		(6)
Total assets	$	194,558	$	190,306	$	187,962	$	186,599	$	190,746	2	%	2	%
Liabilities and shareholders' equity
Interest-bearing deposits:
Demand deposits - interest-bearing	$	39,082	$	38,488	$	39,138	$	39,757	$	39,772	2	%	(2)	%
Money market deposits	48,263		46,100		44,022		41,445		38,753		5		25
Savings and other domestic deposits	16,387		16,595		16,944		17,774		18,826		(1)		(13)
Core certificates of deposit (3)	14,031		13,867		13,107		11,348		8,820		1		59

Other domestic deposits of $250,000 or more	449		461		435		406		320		(3)		40
Negotiable CDS, brokered and other deposits	5,736		5,307		4,834		4,634		4,502		8		27

Total interest-bearing deposits	123,948		120,818		118,480		115,364		110,993		3		12
Short-term borrowings	1,214		1,300		1,906		859		5,242		(7)		(77)
Long-term debt	15,146		13,777		12,205		13,772		16,252		10		(7)
Total interest-bearing liabilities	140,308		135,895		132,591		129,995		132,487		3		6
Demand deposits - noninterest-bearing	29,630		29,910		31,174		32,786		34,566		(1)		(14)
All other liabilities	5,314		5,239		5,435		5,028		4,796		1		11
Total liabilities	175,252		171,044		169,200		167,809		171,849		2		2
Total Huntington shareholders’ equity	19,254		19,213		18,713		18,741		18,844		—		2
Non-controlling interest	52		49		49		49		53		6		(2)
Total equity	19,306		19,262		18,762		18,790		18,897		—		2
Total liabilities and equity	$	194,558	$	190,306	$	187,962	$	186,599	$	190,746	2	%	2	%

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

(2)Includes nonaccrual loans and leases.

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

Huntington Bancshares Incorporated

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

(Unaudited)


	Quarterly Interest Income / Expense
	June 30,		March 31,		December 31,		September 30,		June 30,
(dollar amounts in millions)	2024		2024		2023		2023		2023
Assets


Interest-earning deposits with banks	$	154	$	134	$	139	$	131	$	146
Securities:
Trading account securities	2		2		2		1		1
Available-for-sale securities:
Taxable	322		296		273		259		252
Tax-exempt	34		34		33		37		33
Total available-for-sale securities	356		330		306		296		285
Held-to-maturity securities - taxable	93		95		98		99		102



Other securities	10		9		13		19		11
Total securities	461		436		419		415		399
Loans held for sale	10		7		10		10		8
Loans and leases:
Commercial:
Commercial and industrial	829		801		783		776		746
Commercial real estate:
Commercial	214		215		216		225		217
Construction	19		25		27		28		26
Commercial real estate	233		240		243		253		243
Lease financing	82		79		77		73		71
Total commercial	1,144		1,120		1,103		1,102		1,060
Consumer:
Residential mortgage	232		227		222		213		200
Automobile	172		158		153		145		134
Home equity	196		195		197		195		187
RV and marine	76		74		77		73		63
Other consumer	44		42		41		40		39
Total consumer	720		696		690		666		623
Total loans and leases	1,864		1,816		1,793		1,768		1,683
Total earning assets	$	2,489	$	2,393	$	2,361	$	2,324	$	2,236

Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	$	206	$	200	$	204	$	199	$	167
Money market deposits	442		413		381		327		255
Savings and other domestic deposits	12		10		8		6		6
Core certificates of deposit (3)	166		160		145		119		83

Other domestic deposits of $250,000 or more	5		5		5		4		2
Negotiable CDS, brokered and other deposits	76		69		65		58		57

Total interest-bearing deposits	907		857		808		713		570
Short-term borrowings	19		19		28		17		74
Long-term debt	238		217		198		215		235
Total interest-bearing liabilities	1,164		1,093		1,034		945		879
Net interest income	$	1,325	$	1,300	$	1,327	$	1,379	$	1,357

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

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

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

Huntington Bancshares Incorporated

Consolidated Quarterly Net Interest Margin - Yield

(Unaudited)


	Quarterly Average Rates
	June 30,		March 31,		December 31,		September 30,		June 30,
Fully-taxable equivalent basis (1)	2024		2024		2023		2023		2023
Assets


Interest-earning deposits with banks	5.55		5.50		5.59		5.48		5.17
Securities:
Trading account securities	5.10		5.15		5.40		4.98		4.92
Available-for-sale securities:
Taxable	5.33		5.26		5.43		5.22		4.82
Tax-exempt	5.07		5.05		5.01		5.08		4.87
Total available-for-sale securities	5.30		5.24		5.38		5.20		4.83
Held-to-maturity securities - taxable	2.44		2.44		2.45		2.43		2.42



Other securities	5.21		5.23		7.04		9.22		3.47
Total securities	4.29		4.19		4.23		4.15		3.82
Loans held for sale	6.81		6.51		6.95		6.42		6.05
Loans and leases: (2)
Commercial:
Commercial and industrial	6.33		6.26		6.14		6.15		5.87
Commercial real estate:
Commercial	7.53		7.49		7.48		7.55		7.14
Construction	8.41		8.23		8.40		8.30		7.96
Commercial real estate	7.60		7.56		7.57		7.63		7.22
Lease financing	6.41		6.13		5.90		5.60		5.45
Total commercial	6.56		6.49		6.39		6.39		6.10
Consumer:
Residential mortgage	3.89		3.83		3.76		3.66		3.51
Automobile	5.34		5.05		4.82		4.51		4.17
Home equity	7.86		7.77		7.70		7.66		7.42
RV and marine	5.11		5.04		5.13		4.96		4.59
Other consumer	11.75		11.91		11.67		11.67		11.59
Total consumer	5.32		5.20		5.12		4.97		4.74
Total loans and leases	6.01		5.92		5.82		5.76		5.51
Total earning assets	5.62		5.54		5.47		5.39		5.13
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	2.11		2.09		2.06		1.98		1.68
Money market deposits	3.68		3.61		3.44		3.12		2.64
Savings and other domestic deposits	0.30		0.24		0.19		0.15		0.11
Core certificates of deposit (3)	4.77		4.64		4.40		4.17		3.78

Other domestic deposits of $250,000 or more	4.44		4.18		4.20		3.78		3.27
Negotiable CDS, brokered and other deposits	5.35		5.19		5.33		4.93		5.07

Total interest-bearing deposits	2.94		2.85		2.71		2.45		2.06
Short-term borrowings	6.31		5.95		5.84		7.60		5.70
Long-term debt	6.28		6.30		6.46		6.27		5.79
Total interest-bearing liabilities	3.34		3.23		3.09		2.88		2.66

Net interest rate spread	2.28		2.31		2.38		2.51		2.47
Impact of noninterest-bearing funds on margin	0.71		0.70		0.69		0.69		0.64
Net interest margin	2.99	%	3.01	%	3.07	%	3.20	%	3.11	%


Commercial Loan Derivative Impact
(Unaudited)	Quarterly Average Rates
	June 30,		March 31,		December 31,		September 30,		June 30,
Fully-taxable equivalent basis (1)	2024		2024		2023		2023		2023
Commercial loans (2)(4)	7.29	%	7.22	%	7.14	%	7.09	%	6.82	%
Impact of commercial loan derivatives	(0.73)		(0.73)		(0.75)		(0.70)		(0.72)
Total commercial - as reported	6.56	%	6.49	%	6.39	%	6.39	%	6.10	%
Average 1 Month LIBOR									5.09	%
Average SOFR	5.32	%	5.32	%	5.32	%	5.23	%	4.97	%

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

(2)Includes nonaccrual loans and leases.

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

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

Huntington Bancshares Incorporated

Selected Quarterly Income Statement Data

(Unaudited)


	Three Months Ended
(dollar amounts in millions, except per share data)	June 30,		March 31,		December 31,		September 30,		June 30,
	2024		2024		2023		2023		2023
Interest income	$	2,476	$	2,380	$	2,350	$	2,313	$	2,225
Interest expense	1,164		1,093		1,034		945		879
Net interest income	1,312		1,287		1,316		1,368		1,346
Provision for credit losses	100		107		126		99		92
Net interest income after provision for credit losses	1,212		1,180		1,190		1,269		1,254
Payments and cash management revenue	154		146		150		152		146
Wealth and asset management revenue	90		88		86		79		83
Customer deposit and loan fees	83		77		80		80		76
Capital markets and advisory fees	73		56		69		52		62
Leasing revenue	19		22		29		32		25
Mortgage banking income	30		31		23		27		33
Insurance income	18		19		19		18		18
Bank owned life insurance income	17		16		16		18		16
Gain on sale of loans	2		5		1		2		8
Net gains (losses) on sales of securities	—		—		(3)		—		(5)
Other noninterest income	5		7		(65)		49		33
Total noninterest income	491		467		405		509		495
Personnel costs	663		639		645		622		613
Outside data processing and other services	165		166		157		149		148
Deposit and other insurance expense	25		54		234		25		23
Equipment	62		70		70		65		64
Net occupancy	51		57		65		67		54
Marketing	27		28		29		29		32
Professional services	26		25		35		27		21
Amortization of intangibles	12		12		12		12		13
Lease financing equipment depreciation	4		4		5		6		8
Other noninterest expense	82		82		96		88		74
Total noninterest expense	1,117		1,137		1,348		1,090		1,050
Income before income taxes	586		510		247		688		699
Provision (benefit) for income taxes	106		86		(1)		136		134
Income after income taxes	480		424		248		552		565
Income attributable to non-controlling interest	6		5		5		5		6
Net income attributable to Huntington	474		419		243		547		559
Dividends on preferred shares	35		36		36		37		40
Impact of preferred stock repurchases	—		—		(8)		—		—
Net income applicable to common shares	$	439	$	383	$	215	$	510	$	519

Average common shares - basic	1,451		1,448		1,448		1,448		1,446
Average common shares - diluted	1,474		1,473		1,469		1,468		1,466

Per common share
Net income - basic	$	0.30	$	0.26	$	0.15	$	0.35	$	0.36
Net income - diluted	0.30		0.26		0.15		0.35		0.35
Cash dividends declared	0.155		0.155		0.155		0.155		0.155

Revenue - fully-taxable equivalent (FTE)
Net interest income	$	1,312	$	1,287	$	1,316	$	1,368	$	1,346
FTE adjustment	13		13		11		11		11
Net interest income (1)	1,325		1,300		1,327		1,379		1,357
Noninterest income	491		467		405		509		495
Total revenue (1)	$	1,816	$	1,767	$	1,732	$	1,888	$	1,852

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

Huntington Bancshares Incorporated

Quarterly Mortgage Banking Noninterest Income

(Unaudited)


	Three Months Ended
	June 30,			March 31,			December 31,			September 30,			June 30,			Percent Changes vs.
(dollar amounts in millions)	2024			2024			2023			2023			2023			1Q24		2Q23
Net origination and secondary marketing income	$	17		$	16		$	12		$	18		$	23		6	%	(26)	%
Net mortgage servicing income
Loan servicing income	25			25			24			24			23			—		9
Amortization of capitalized servicing	(14)			(11)			(13)			(13)			(12)			(27)		(17)
Operating income	11			14			11			11			11			(21)		—
MSR valuation adjustment (1)	11			20			(34)			38			15			(45)		(27)
(Losses) gains due to MSR hedging	(10)			(19)			34			(38)			(15)			47		33
Net MSR risk management	1			1			—			—			—			—		100
Total net mortgage servicing income	$	12		$	15		$	11		$	11		$	11		(20)	%	9	%
All other	1			—			—			(2)			(1)			100		200
Mortgage banking income	$	30		$	31		$	23		$	27		$	33		(3)	%	(9)	%

Mortgage origination volume	$	2,164		$	1,276		$	1,666		$	2,020		$	2,504		70	%	(14)	%
Mortgage origination volume for sale	1,191			834			962			1,195			1,239			43		(4)

Third party mortgage loans serviced (2)	33,404			33,303			33,237			32,965			32,712			—		2
Mortgage servicing rights (2)	543			534			515			547			505			2		8
MSR % of investor servicing portfolio (2)	1.63		%	1.60		%	1.55		%	1.66		%	1.55		%	2	%	5	%

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

(2)At period end.

Huntington Bancshares Incorporated

Quarterly Credit Reserves Analysis

(Unaudited)


	Three Months Ended
	June 30,			March 31,			December 31,			September 30,			June 30,
(dollar amounts in millions)	2024			2024			2023			2023			2023
Allowance for loan and lease losses, beginning of period	$	2,280		$	2,255		$	2,208		$	2,177		$	2,142

Loan and lease charge-offs	(145)			(128)			(132)			(131)			(92)
Recoveries of loans and leases previously charged-off	55			36			38			58			43
Net loan and lease charge-offs	(90)			(92)			(94)			(73)			(49)
Provision for loan and lease losses	114			117			141			104			84


Allowance for loan and lease losses, end of period	2,304			2,280			2,255			2,208			2,177
Allowance for unfunded lending commitments, beginning of period	135			145			160			165			157

Provision for unfunded lending commitments	(16)			(10)			(15)			(5)			8


Allowance for unfunded lending commitments, end of period	119			135			145			160			165
Total allowance for credit losses, end of period	$	2,423		$	2,415		$	2,400		$	2,368		$	2,342
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases	1.85		%	1.86		%	1.85		%	1.83		%	1.80		%
Nonaccrual loans and leases (NALs)	314			318			338			373			427
Nonperforming assets (NPAs)	296			309			317			348			391
Total allowance for credit losses (ACL) as % of:
Total loans and leases	1.95		%	1.97		%	1.97		%	1.96		%	1.93		%
Nonaccrual loans and leases (NALs)	331			337			360			400			459
Nonperforming assets (NPAs)	311			327			337			373			420



	June 30,		March 31,		December 31,		September 30,		June 30,
(dollar amounts in millions)	2024		2024		2023		2023		2023
Allocation of allowance for credit losses
Commercial
Commercial and industrial	$	995	$	974	$	993	$	973	$	994
Commercial real estate	542		564		522		483		442
Lease financing	50		51		48		48		47
Total commercial	1,587		1,589		1,563		1,504		1,483
Consumer
Residential mortgage	199		163		188		200		194
Automobile	127		146		142		143		144
Home equity	142		137		114		115		119
RV and marine	146		148		148		151		145
Other consumer	103		97		100		95		92
Total consumer	717		691		692		704		694
Total allowance for loan and lease losses	2,304		2,280		2,255		2,208		2,177
Allowance for unfunded lending commitments	119		135		145		160		165
Total allowance for credit losses	$	2,423	$	2,415	$	2,400	$	2,368	$	2,342

Huntington Bancshares Incorporated

Quarterly Net Charge-Off Analysis

(Unaudited)


	Three Months Ended
	June 30,			March 31,			December 31,			September 30,			June 30,
(dollar amounts in millions)	2024			2024			2023			2023			2023
Net charge-offs (recoveries) by loan and lease type:
Commercial:
Commercial and industrial	$	21		$	42		$	39		$	32		$	20



Commercial real estate	36			13			21			11			7
Lease financing	—			—			(3)			2			—
Total commercial	57			55			57			45			27
Consumer:
Residential mortgage	1			—			—			1			1
Automobile	6			9			9			4			3
Home equity	—			—			—			—			—
RV and marine	4			5			5			3			2
Other consumer	22			23			23			20			16
Total consumer	33			37			37			28			22
Total net charge-offs	$	90		$	92		$	94		$	73		$	49


	Three Months Ended
	June 30,			March 31,			December 31,			September 30,			June 30,
	2024			2024			2023			2023			2023
Net charge-offs (recoveries) - annualized percentages:
Commercial:
Commercial and industrial	0.16		%	0.33		%	0.32		%	0.26		%	0.15		%



Commercial real estate	1.19			0.41			0.65			0.35			0.23
Lease financing	0.02			0.01			(0.24)			0.12			—
Total commercial	0.33			0.32			0.34			0.27			0.16
Consumer:
Residential mortgage	0.01			—			0.01			0.01			0.01
Automobile	0.20			0.27			0.27			0.14			0.10
Home equity	(0.01)			0.01			0.01			(0.01)			(0.02)
RV and marine	0.25			0.36			0.34			0.16			0.13
Other consumer	5.98			6.39			6.48			6.09			5.17
Total consumer	0.24			0.28			0.28			0.21			0.17
Net charge-offs as a % of average loans and leases	0.29		%	0.30		%	0.31		%	0.24		%	0.16		%

Huntington Bancshares Incorporated

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

(Unaudited)


	June 30,			March 31,			December 31,			September 30,			June 30,
(dollar amounts in millions)	2024			2024			2023			2023			2023
Nonaccrual loans and leases (NALs):
Commercial and industrial	$	346		$	376		$	344		$	314		$	267
Commercial real estate	194			154			140			102			75
Lease financing	13			10			14			14			15
Residential mortgage	80			75			72			75			73
Automobile	4			4			4			4			4
Home equity	95			96			91			82			75
RV and marine	1			1			2			1			1

Total nonaccrual loans and leases	733			716			667			592			510



Other real estate, net	10			10			10			14			18
Other NPAs (1)	37			12			34			28			29
Total nonperforming assets	$	780		$	738		$	711		$	634		$	557

Nonaccrual loans and leases as a % of total loans and leases	0.59		%	0.58		%	0.55		%	0.49		%	0.42		%
NPA ratio (2)	0.63			0.60			0.58			0.52			0.46
(NPA+90days)/(Loan+OREO) (3)	0.77			0.75			0.74			0.66			0.60


	Three Months Ended
	June 30,		March 31,		December 31,		September 30,		June 30,
(dollar amounts in millions)	2024		2024		2023		2023		2023
Nonperforming assets, beginning of period	$	738	$	711	$	634	$	557	$	578
New nonperforming assets	316		263		300		252		188


Returns to accruing status	(55)		(68)		(47)		(23)		(34)
Charge-offs	(82)		(64)		(73)		(62)		(42)
Payments	(135)		(102)		(98)		(85)		(118)
Sales	(2)		(2)		(5)		(5)		(15)

Nonperforming assets, end of period	$	780	$	738	$	711	$	634	$	557

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

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

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

Huntington Bancshares Incorporated

Quarterly Accruing Past Due Loans and Leases

(Unaudited)


	June 30,			March 31,			December 31,			September 30,			June 30,
(dollar amounts in millions)	2024			2024			2023			2023			2023
Accruing loans and leases past due 90+ days:
Commercial and industrial	$	1		$	1		$	1		$	—		$	7

Lease financing	4			3			4			7			12
Residential mortgage (excluding loans guaranteed by the U.S. Government)	22			26			27			22			18
Automobile	8			8			9			8			6
Home equity	18			17			22			19			18
RV and marine	3			2			3			2			2
Other consumer	3			4			4			3			3
Total, excl. loans guaranteed by the U.S. Government	59			61			70			61			66
Add: loans guaranteed by U.S. Government	116			122			119			102			103
Total accruing loans and leases past due 90+ days, including loans guaranteed by the U.S. Government	$	175		$	183		$	189		$	163		$	169

Ratios:
Excluding loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.05		%	0.05		%	0.06		%	0.05		%	0.05		%
Guaranteed by U.S. Government, as a percent of total loans and leases	0.09			0.10			0.10			0.08			0.08
Including loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.14			0.15			0.15			0.14			0.14

Huntington Bancshares Incorporated

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

(Unaudited)


	June 30,			March 31,			December 31,			September 30,			June 30,
(dollar amounts in millions)	2024			2024			2023			2023			2023
Common equity tier 1 risk-based capital ratio: (1)
Total Huntington shareholders’ equity	$	19,515		$	19,322		$	19,353		$	18,483		$	18,788
Regulatory capital adjustments:
CECL transitional amount (2)	109			109			219			219			219
Shareholders’ preferred equity and related surplus	(2,404)			(2,404)			(2,404)			(2,494)			(2,494)
Accumulated other comprehensive loss	2,911			2,879			2,676			3,622			3,006
Goodwill and other intangibles, net of taxes	(5,561)			(5,575)			(5,591)			(5,605)			(5,620)
Deferred tax assets from tax loss and credit carryforwards	(49)			(48)			(41)			(14)			(14)
Common equity tier 1 capital	14,521			14,283			14,212			14,211			13,885
Additional tier 1 capital
Shareholders’ preferred equity and related surplus	2,404			2,404			2,404			2,494			2,494


Tier 1 capital	16,925			16,687			16,616			16,705			16,379
Long-term debt and other tier 2 qualifying instruments	1,278			1,279			1,306			1,383			1,394
Qualifying allowance for loan and lease losses	1,743			1,747			1,735			1,758			1,767
Tier 2 capital	3,021			3,026			3,041			3,141			3,161
Total risk-based capital	$	19,946		$	19,713		$	19,657		$	19,846		$	19,540
Risk-weighted assets (RWA)(1)	$	139,374		$	139,622		$	138,706		$	140,688		$	141,432
Common equity tier 1 risk-based capital ratio (1)	10.4		%	10.2		%	10.2		%	10.1		%	9.8		%
Other regulatory capital data:
Tier 1 leverage ratio (1)	8.8			8.9			9.3			9.4			9.0
Tier 1 risk-based capital ratio (1)	12.1			12.0			12.0			11.9			11.6
Total risk-based capital ratio (1)	14.3			14.1			14.2			14.1			13.8
Non-regulatory capital data:
Tangible common equity / RWA ratio (1)	8.2			8.1			8.1			7.3			7.5




Reconciliation of Non-GAAP Measure (3)
Common equity tier 1 (CET1) capital (A)	$	14,521		$	14,283		$	14,212		$	14,211		$	13,885
Add: Accumulated other comprehensive income (loss) (AOCI)	(2,911)			(2,879)			(2,676)			(3,622)			(3,006)
Less: AOCI cash flow hedge	(399)			(436)			(363)			(662)			(612)
Adjusted common equity tier 1 (B)	12,009			11,840			11,899			11,251			11,491
Risk weighted assets (C)	139,374			139,622			138,706			140,688			141,432

CET1 ratio (A/C)	10.4		%	10.2		%	10.2		%	10.1		%	9.8		%
Adjusted CET1 ratio (B/C)	8.6			8.5			8.6			8.0			8.1

(1)June 30, 2024 figures are estimated.

(2)Upon adoption in 2020, Huntington elected to temporarily delay certain effects of CECL on regulatory capital, utilizing a two-year delay followed by a three-year transition period. January 1, 2022 began the three-year transition period, whereby 100% of the day-one impact of adopting CECL and 25% of the cumulative change in the reported allowance for credit losses since adopting CECL will be recognized over the three-year transition period. As of June 30, 2024 and March 31, 2024, 75% of the cumulative CECL deferral has been phased in. As of December 31, 2023, September 30, 2023, and June 30, 2023, 50% of the cumulative CECL deferral has been phased in.

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

Huntington Bancshares Incorporated

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

(Unaudited)

Quarterly common stock summary


	June 30,		March 31,		December 31,		September 30,		June 30,
	2024		2024		2023		2023		2023






Cash dividends declared per common share	$	0.155	$	0.155	$	0.155	$	0.155	$	0.155
Common shares outstanding (in millions):
Average - basic	1,451		1,448		1,448		1,448		1,446
Average - diluted	1,474		1,473		1,469		1,468		1,466
Ending	1,452		1,449		1,448		1,448		1,448
Tangible book value per common share (1)	$	7.89	$	7.77	$	7.79	$	7.12	$	7.33

Non-regulatory capital


	June 30,			March 31,			December 31,			September 30,			June 30,
(dollar amounts in millions)	2024			2024			2023			2023			2023
Calculation of tangible equity / asset ratio:
Total Huntington shareholders’ equity	$	19,515		$	19,322		$	19,353		$	18,483		$	18,788
Goodwill and other intangible assets	(5,680)			(5,692)			(5,704)			(5,716)			(5,728)

Deferred tax liability on other intangible assets (1)	25			28			30			33			35
Total tangible equity	13,860			13,658			13,679			12,800			13,095
Preferred equity	(2,394)			(2,394)			(2,394)			(2,484)			(2,484)
Total tangible common equity	$	11,466		$	11,264		$	11,285		$	10,316		$	10,611
Total assets	$	196,310		$	193,519		$	189,368		$	186,650		$	188,505
Goodwill and other intangible assets	(5,680)			(5,692)			(5,704)			(5,716)			(5,728)
Deferred tax liability on other intangible assets (1)	25			28			30			33			35
Total tangible assets	$	190,655		$	187,855		$	183,694		$	180,967		$	182,812
Tangible equity / tangible asset ratio	7.3		%	7.3		%	7.4		%	7.1		%	7.2		%
Tangible common equity / tangible asset ratio	6.0		%	6.0		%	6.1		%	5.7		%	5.8		%
Other data:
Number of employees (Average full-time equivalent)	19,889			19,719			19,612			19,826			20,200
Number of domestic full-service branches (2)	972			969			999			1,001			1,001
ATM Count	1,603			1,606			1,630			1,631			1,641

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

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

Huntington Bancshares Incorporated

Consolidated Year To Date Average Balance Sheets

(Unaudited)


	YTD Average Balances (1)
	Six Months Ended June 30,				Change
(dollar amounts in millions)	2024		2023		Amount		Percent
Assets


Interest-earning deposits with banks	$	10,439	$	8,829	$	1,610	18	%
Securities:
Trading account securities	138		27		111		NM
Available-for-sale securities:
Taxable	23,349		21,143		2,206		10
Tax-exempt	2,680		2,693		(13)		—
Total available-for-sale securities	26,029		23,836		2,193		9


Held-to-maturity securities - taxable	15,389		16,869		(1,480)		(9)





Other securities	750		1,075		(325)		(30)
Total securities	42,306		41,807		499		1
Loans held for sale	515		505		10		2
Loans and leases: (2)
Commercial:
Commercial and industrial	51,175		49,615		1,560		3
Commercial real estate:
Commercial	11,306		12,171		(865)		(7)
Construction	1,057		1,340		(283)		(21)
Commercial real estate	12,363		13,511		(1,148)		(8)
Lease financing	5,076		5,181		(105)		(2)
Total commercial	68,614		68,307		307		—
Consumer:
Residential mortgage	23,809		22,547		1,262		6
Automobile	12,771		13,085		(314)		(2)
Home equity	10,064		10,206		(142)		(1)
RV and marine	5,929		5,422		507		9
Other consumer	1,466		1,318		148		11
Total consumer	54,039		52,578		1,461		3
Total loans and leases	122,653		120,885		1,768		1
Total earning assets	175,913		172,026		3,887		2
Cash and due from banks	1,416		1,619		(203)		(13)
Goodwill and other intangible assets	5,691		5,747		(56)		(1)
All other assets	11,697		10,602		1,095		10
Allowance for loan and lease losses	(2,285)		(2,158)		(127)		(6)
Total assets	$	192,432	$	187,836	$	4,596	2	%
Liabilities and shareholders' equity
Interest-bearing deposits:
Demand deposits - interest-bearing	$	38,786	$	40,211	$	(1,425)	(4)	%
Money market deposits	47,181		38,031		9,150		24
Savings and other domestic deposits	16,491		19,348		(2,857)		(15)
Core certificates of deposit (3)	13,949		7,292		6,657		91

Other domestic deposits of $250,000 or more	455		286		169		59
Negotiable CDS, brokered and other deposits	5,521		4,659		862		19

Total interest-bearing deposits	122,383		109,827		12,556		11
Short-term borrowings	1,257		4,809		(3,552)		(74)
Long-term debt	14,461		13,664		797		6
Total interest-bearing liabilities	138,101		128,300		9,801		8
Demand deposits - noninterest-bearing	29,770		36,023		(6,253)		(17)
All other liabilities	5,277		4,925		352		7
Total Liabilities	173,148		169,248		3,900		2
Total Huntington shareholders’ equity	19,234		18,539		695		4
Non-controlling interest	50		49		1		2
Total equity	$	19,284	$	18,588	$	696	4
Total liabilities and equity	$	192,432	$	187,836	$	8,496	2	%

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

(2)Includes nonaccrual loans and leases.

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

Huntington Bancshares Incorporated

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

(Unaudited)


	YTD Interest Income / Expense
	Six Months Ended June 30,
(dollar amounts in millions)	2024		2023
Assets


Interest-earning deposits with banks	$	288	$	222
Securities:
Trading account securities	4		1
Available-for-sale securities:
Taxable	618		484
Tax-exempt	68		62
Total available-for-sale securities	686		546
Held-to-maturity securities - taxable	188		204



Other securities	19		21
Total securities	897		772
Loans held for sale	17		15
Loans and leases:
Commercial:
Commercial and industrial	1,630		1,432
Commercial real estate:
Commercial	429		424
Construction	44		52
Commercial real estate	473		476
Lease financing	161		139
Total commercial	2,264		2,047
Consumer:
Residential mortgage	459		390
Automobile	330		263
Home equity	391		368
RV and marine	150		121
Other consumer	86		75
Total consumer	1,416		1,217
Total loans and leases	3,680		3,264
Total earning assets	$	4,882	$	4,273
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	$	406	$	299
Money market deposits	855		427
Savings and other domestic deposits	22		9
Core certificates of deposit (3)	326		126

Other domestic deposits of $250,000 or more	10		4
Negotiable CDS, brokered and other deposits	145		111

Total interest-bearing deposits	1,764		976
Short-term borrowings	38		134
Long-term debt	455		388
Total interest-bearing liabilities	2,257		1,498

Net interest income	$	2,625	$	2,775

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

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

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

Huntington Bancshares Incorporated

Consolidated Year To Date Net Interest Margin - Yield

(Unaudited)


	YTD Average Rates
	Six Months Ended June 30,
Fully-taxable equivalent basis (1)	2024		2023
Assets


Interest-earning deposits with banks	5.53	%	5.03	%
Securities:
Trading account securities	5.12		5.09
Available-for-sale securities:
Taxable	5.29		4.58
Tax-exempt	5.06		4.64
Total available-for-sale securities	5.27		4.59
Held-to-maturity securities - taxable	2.44		2.42



Other securities	5.22		3.83
Total securities	4.24		3.69
Loans held for sale	6.68		5.96
Loans and leases: (2)
Commercial:
Commercial and industrial	6.29		5.74
Commercial real estate:
Commercial	7.51		6.93
Construction	8.31		7.67
Commercial real estate	7.58		7.01
Lease financing	6.27		5.35
Total commercial	6.52		5.96
Consumer:
Residential mortgage	3.86		3.46
Automobile	5.20		4.05
Home equity	7.81		7.28
RV and marine	5.08		4.51
Other consumer	11.83		11.39
Total consumer	5.26		4.66
Total loans and leases	5.97		5.39
Total earning assets	5.58	%	5.01	%
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	2.10	%	1.50	%
Money market deposits	3.65		2.27
Savings and other domestic deposits	0.27		0.09
Core certificates of deposit (3)	4.71		3.48

Other domestic deposits of $250,000 or more	4.31		2.91
Negotiable CDS, brokered and other deposits	5.27		4.81

Total interest-bearing deposits	2.90		1.79
Short-term borrowings	6.12		5.64
Long-term debt	6.29		5.67
Total interest-bearing liabilities	3.29		2.35

Net interest rate spread	2.29		2.66
Impact of noninterest-bearing funds on margin	0.71		0.59
Net interest margin	3.00	%	3.25	%


Commercial Loan Derivative Impact
(Unaudited)
	YTD Average Rates
	Six Months Ended June 30,
Fully-taxable equivalent basis (1)	2024		2023
Commercial loans (2)(4)	7.25	%	6.62	%
Impact of commercial loan derivatives	(0.73)		(0.66)
Total commercial - as reported	6.52	%	5.96	%
Average 1 Month LIBOR			4.85	%
Average SOFR	5.32	%	4.73	%

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

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

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

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

Huntington Bancshares Incorporated

Selected Year To Date Income Statement Data

(Unaudited)


	Six Months Ended June 30,				Change
(dollar amounts in millions, except per share data)	2024		2023		Amount		Percent
Interest income	$	4,856	$	4,253	$	603	14	%
Interest expense	2,257		1,498		759		51
Net interest income	2,599		2,755		(156)		(6)
Provision for credit losses	207		177		30		17
Net interest income after provision for credit losses	2,392		2,578		(186)		(7)
Payments and cash management revenue	300		283		17		6
Wealth and asset management revenue	178		163		15		9
Customer deposit and loan fees	160		152		8		5
Capital markets and advisory fees	129		127		2		2
Leasing revenue	41		51		(10)		(20)
Mortgage banking income	61		59		2		3
Insurance income	37		37		—		—
Bank owned life insurance income	33		32		1		3
Gain on sale of loans	7		11		(4)		(36)
Net gains (losses) on sales of securities	—		(4)		4		100
Other noninterest income	12		96		(84)		(88)
Total noninterest income	958		1,007		(49)		(5)
Personnel costs	1,302		1,262		40		3
Outside data processing and other services	331		299		32		11
Deposit and other insurance expense	79		43		36		84
Equipment	132		128		4		3
Net occupancy	108		114		(6)		(5)
Marketing	55		57		(2)		(4)
Professional services	51		37		14		38
Amortization of intangibles	24		26		(2)		(8)
Lease financing equipment depreciation	8		16		(8)		(50)
Other noninterest expense	164		154		10		6
Total noninterest expense	2,254		2,136		118		6
Income before income taxes	1,096		1,449		(353)		(24)
Provision for income taxes	192		278		(86)		(31)
Income after income taxes	904		1,171		(267)		(23)
Income attributable to non-controlling interest	11		10		1		10
Net income attributable to Huntington	893		1,161		(268)		(23)
Dividends on preferred shares	71		69		2		3

Net income applicable to common shares	$	822	$	1,092	$	(270)	(25)	%
Average common shares - basic	1,450		1,445		5		—
Average common shares - diluted	1,474		1,468		6		—
Per common share
Net income - basic	$	0.57	$	0.76	$	(0.19)	(25)	%
Net income - diluted	0.56		0.74		(0.18)		(24)
Cash dividends declared	0.31		0.31		—		—
Revenue - fully taxable equivalent (FTE)
Net interest income	$	2,599	$	2,755	$	(156)	(6)	%
FTE adjustment	26		20		6		30
Net interest income (1)	2,625		2,775		(150)		(5)
Noninterest income	958		1,007		(49)		(5)
Total revenue (1)	$	3,583	$	3,782	$	(199)	(5)	%

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

Huntington Bancshares Incorporated

Year To Date Mortgage Banking Noninterest Income

(Unaudited)


	Six Months Ended June 30,						Change
(dollar amounts in millions)	2024			2023			Amount			Percent
Net origination and secondary marketing income	$	33		$	39		$	(6)		(15)	%
Net mortgage servicing income
Loan servicing income	50			46			4			9
Amortization of capitalized servicing	(25)			(22)			(3)			(14)
Operating income	25			24			1			4
MSR valuation adjustment (1)	31			3			28			933
(Losses) gains due to MSR hedging	(29)			(6)			(23)			(383)
Net MSR risk management	2			(3)			5			—
Total net mortgage servicing income	27			21			6			29
All other	1			(1)			2			200
Mortgage banking income	$	61		$	59		$	2		3	%

Mortgage origination volume	$	3,440		$	3,916		$	(476)		(12)	%
Mortgage origination volume for sale	2,025			2,048			(23)			(1)

Third party mortgage loans serviced (2)	33,404			32,712			692			2
Mortgage servicing rights (2)	543			505			38			8
MSR % of investor servicing portfolio (2)	1.63		%	1.55		%	0.08		%	5	%

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

(2)At period end.

Huntington Bancshares Incorporated

Year To Date Credit Reserves Analysis

(Unaudited)


	Six Months Ended June 30,
(dollar amounts in millions)	2024			2023
Allowance for loan and lease losses, beginning of period	$	2,255		$	2,121

Loan and lease charge-offs	(273)			(191)
Recoveries of loans and leases previously charged off	91			85
Net loan and lease charge-offs	(182)			(106)
Provision for loan and lease losses	231			162


Allowance for loan and lease losses, end of period	2,304			2,177
Allowance for unfunded lending commitments, beginning of period	$	145		$	150

Provision for unfunded lending commitments	(26)			15


Allowance for unfunded lending commitments, end of period	119			165
Total allowance for credit losses, end of period	$	2,423		$	2,342
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases	1.85		%	1.80		%
Nonaccrual loans and leases (NALs)	314			427
Nonperforming assets (NPAs)	296			391
Total allowance for credit losses (ACL) as % of:
Total loans and leases	1.95		%	1.93		%
Nonaccrual loans and leases (NALs)	331			459
Nonperforming assets (NPAs)	311			420

Huntington Bancshares Incorporated

Year To Date Net Charge-Off Analysis

(Unaudited)


	Six Months Ended June 30,
(dollar amounts in millions)	2024			2023
Net charge-offs (recoveries) by loan and lease type:
Commercial:
Commercial and industrial	$	63		$	36



Commercial real estate	49			25
Lease financing	—			(5)
Total commercial	112			56
Consumer:
Residential mortgage	1			1
Automobile	15			8
Home equity	—			(1)
RV and marine	9			4
Other consumer	45			38
Total consumer	70			50
Total net charge-offs	$	182		$	106


	Six Months Ended June 30,
	2024			2023
Net charge-offs (recoveries) - annualized percentages:
Commercial:
Commercial and industrial	0.24		%	0.14		%



Commercial real estate	0.79			0.37
Lease financing	0.01			(0.19)
Total commercial	0.33			0.16
Consumer:
Residential mortgage	0.01			0.01
Automobile	0.24			0.12
Home equity	—			(0.02)
RV and marine	0.31			0.16
Other consumer	6.18			5.76
Total consumer	0.26			0.19
Net charge-offs as a % of average loans	0.30		%	0.17		%

Huntington Bancshares Incorporated

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

(Unaudited)


	June 30,
(dollar amounts in millions)	2024			2023
Nonaccrual loans and leases (NALs):
Commercial and industrial	$	346		$	267
Commercial real estate	194			75
Lease financing	13			15
Residential mortgage	80			73
Automobile	4			4
Home equity	95			75
RV and marine	1			1

Total nonaccrual loans and leases	733			510



Other real estate, net	10			18
Other NPAs (1)	37			29
Total nonperforming assets (2)	$	780		$	557

Nonaccrual loans and leases as a % of total loans and leases	0.59		%	0.42		%
NPA ratio (3)	0.63			0.46


	Six Months Ended June 30,
(dollar amounts in millions)	2024		2023
Nonperforming assets, beginning of period	$	711	$	594
New nonperforming assets	579		425


Returns to accruing status	(123)		(107)
Charge-offs	(146)		(96)
Payments	(237)		(242)
Sales	(4)		(17)
Nonperforming assets, end of period (3)	$	780	$	557

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

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

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