Form: 8-K

Current report filing

October 22, 2020

Documents


Exhibit 99.2
HUNTINGTON BANCSHARES INCORPORATED
Quarterly Financial Supplement
September 30, 2020
Table of Contents


Notes:
The preparation of financial statement data in conformity with accounting principles generally accepted in the United States (GAAP) requires management to make estimates and assumptions that affect amounts reported. Actual results could differ from those estimates. Certain prior period amounts have been reclassified to conform to the current period’s presentation.
Fully-Taxable Equivalent Basis
Interest income, yields, and ratios on a FTE basis are considered non-GAAP financial measures.  Management believes net interest income on a FTE basis provides a more accurate picture of the interest margin for comparison purposes.  The FTE basis also allows management to assess the comparability of revenue arising from both taxable and tax-exempt sources.  The FTE basis assumes a federal statutory tax rate of 21 percent.
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) September 30, June 30, September 30,
Percent Changes vs.
2020 2020 2019 2Q20 3Q19
Net interest income (2)
 $ 822  $ 797  $ 805  3  % 2  %
FTE adjustment
 (5) (5) (6) —  17 
Net interest income
 817  792  799  3  2 
Provision for credit losses
 177  327  82  (46) 116 
Noninterest income
 430  391  389  10  11 
Noninterest expense
 712  675  667  5  7 
Income before income taxes
 358  181  439  98  (18)
Provision for income taxes
 55  31  67  77  (18)
Net income
 303  150  372  102  (19)
Dividends on preferred shares
 28  19  18  47  56 
Net income applicable to common shares
 $ 275  $ 131  $ 354  110  % (22) %
Net income per common share - diluted
 $ 0.27  $ 0.13  $ 0.34  108  % (21) %
Cash dividends declared per common share
 0.15  0.15  0.15  —  — 
Tangible book value per common share at end of period
 8.43  8.32  8.25  1  2 
Number of common shares repurchased
 —  —  5,213  —  (100)
Average common shares - basic
1,017  1,016  1,035  —  (2)
Average common shares - diluted
1,031  1,029  1,051  —  (2)
Ending common shares outstanding
1,017  1,017  1,033  —  (2)
Return on average assets
 1.01  % 0.51  % 1.37  %
Return on average common shareholders’ equity
 10.2  5.0  13.4 
Return on average tangible common shareholders’ equity (1)
13.2  6.7  17.3 
Net interest margin (2)
 2.96  2.94  3.20 
Efficiency ratio (3)
 56.1  55.9  54.7 
Effective tax rate
 15.2  17.2  15.4 
Average total assets
$ 119,529  $ 118,191  $ 108,166  1  11 
Average earning assets
110,665  109,038  99,692  1  11 
Average loans and leases
80,542  80,199  75,096  —  7 
Average loans and leases - linked quarter annualized growth rate
 1.7  % 23.8  % 0.9  %
Average total deposits
$ 95,049  $ 93,222  $ 82,249  2  16 
Average core deposits (4)
90,692  88,878  79,335  2  14 
Average core deposits - linked quarter annualized growth rate
 8.2  % 47.0  % 3.1  %
Average shareholders’ equity
12,678  11,945  11,714  6  8 
Average common total shareholders' equity
 10,701  10,590  10,510  1  2 
Average tangible common shareholders' equity
8,549  8,429  8,323  1  3 
Total assets at end of period
120,116  118,425  108,735  1  10 
Total shareholders’ equity at end of period
12,917  12,314  11,909  5  8 
NCOs as a % of average loans and leases
 0.56  % 0.54  % 0.39  %
NAL ratio
 0.70  0.81  0.58 
NPA ratio (5)
 0.74  0.89  0.64 
Allowance for loan and lease losses (ALLL) as a % of total loans and leases at the end of period
 2.21  2.12  1.05 
Common equity tier 1 risk-based capital ratio (6)
 9.89  9.84  10.02 
Tangible common equity / tangible asset ratio (7)
 7.27  7.28  8.00 
See Notes to the Quarterly Key Statistics.
1

Huntington Bancshares Incorporated
Year to Date Key Statistics
(Unaudited)
Nine Months Ended September 30,
Change
(dollar amounts in millions, except per share data) 2020 2019
Amount
Percent
Net interest income (2)
 $ 2,415  $ 2,453  $ (38) (2) %
FTE adjustment
 (16) (20) 4  20 
Net interest income
 2,399  2,433  (34) (1)
Provision for credit losses
 945  208  737  354 
Noninterest income
 1,182  1,082  100  9 
Noninterest expense
 2,039  2,020  19  1 
Income before income taxes
 597  1,287  (690) (54)
Provision for income taxes
 96  193  (97) (50)
Net Income
 501  1,094  (593) (54)
Dividends on preferred shares
 65  55  10  18 
Net income applicable to common shares
 $ 436  $ 1,039  $ (603) (58) %
Net income per common share - diluted
 $ 0.42  $ 0.98  $ (0.56) (57) %
Cash dividends declared per common share
 0.45  0.43  0.02  5 
Average common shares - basic
 1,017  1,042  (25) (2)
Average common shares - diluted
1,032  1,059  (27) (3)
Return on average assets
 0.58  % 1.36  %
Return on average common shareholders’ equity
 5.5  13.6 
Return on average tangible common shareholders’ equity (1)
 7.3  17.7 
Net interest margin (2)
 3.01  3.30 
Efficiency ratio (3)
 55.8  56.0 
Effective tax rate
 16.0  15.0 
Average total assets
$ 115,969  $ 107,721  $ 8,248  8 
Average earning assets
 107,175  99,366  7,809  8 
Average loans and leases
78,818  74,936  3,882  5 
Average total deposits
90,352  82,244  8,108  10 
Average core deposits (4)
86,382  79,031  7,351  9 
Average shareholders’ equity
12,088  11,450  638  6 
Average common total shareholders' equity
10,575  10,247  328  3 
Average tangible common shareholders' equity
8,415  8,050  365  5 
NCOs as a % of average loans and leases
 0.57  % 0.34  %
NAL ratio
 0.70  0.58 
NPA ratio (5)
 0.74  0.64 
See Notes to the Year to Date and Quarterly Key Statistics.

2

Key Statistics Footnotes
(1)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.
(2)On a fully-taxable equivalent (FTE) basis assuming a 21% tax rate.
(3)Noninterest expense less amortization of intangibles divided by the sum of FTE net interest income and noninterest income excluding securities gains (losses).
(4)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)September 30, 2020, 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.


3

Huntington Bancshares Incorporated
Consolidated Balance Sheets
September 30, December 31,
(dollar amounts in millions) 2020 2019
Percent Changes
(Unaudited)
Assets
Cash and due from banks
 $ 1,029  $ 1,045  (2) %
Interest-bearing deposits in Federal Reserve Bank
 5,246  125  4,097 
Interest-bearing deposits in banks
 109  102  7 
Trading account securities
 54  99  (45)
Available-for-sale securities
 14,807  14,149  5 
Held-to-maturity securities
 8,557  9,070  (6)
Other securities
 421  441  (5)
Loans held for sale
 1,303  877  49 
Loans and leases (1)
 81,156  75,404  8 
Allowance for loan and lease losses
 (1,796) (783) (129)
Net loans and leases
 79,360  74,621  6 
Bank owned life insurance
 2,567  2,542  1 
Premises and equipment
 752  763  (1)
Goodwill
 1,990  1,990  — 
Service rights and other intangible assets
 419  475  (12)
Other assets
 3,502  2,703  30 
Total assets
 $ 120,116  $ 109,002  10  %
Liabilities and shareholders’ equity
Liabilities
Deposits (2)
 $ 95,154  $ 82,347  16  %
Short-term borrowings
 222  2,606  (91)
Long-term debt
 9,174  9,849  (7)
Other liabilities
 2,649  2,405  10 
Total liabilities
 107,199  97,207  10 
Shareholders' equity
Preferred stock
 2,191  1,203  82 
Common stock
 10  10  — 
Capital surplus
 8,766  8,806  — 
Less treasury shares, at cost
 (59) (56) (5)
Accumulated other comprehensive gain (loss)
 257  (256) 200 
Retained earnings (deficit)
 1,752  2,088  (16)
Total shareholders’ equity
 12,917  11,795  10 
Total liabilities and shareholders’ equity
 $ 120,116  $ 109,002  10  %
Common shares authorized (par value of $0.01)
 1,500,000,000  1,500,000,000 
Common shares outstanding
 1,017,310,599  1,020,003,482 
Treasury shares outstanding
 5,066,072  4,537,605 
Preferred stock, authorized shares
 6,617,808  6,617,808 
Preferred shares outstanding
 750,500  740,500 
(1)See page 5 for detail of loans and leases.
(2)See page 6 for detail of deposits.
4

Huntington Bancshares Incorporated
Loans and Leases Composition
(Unaudited)
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2020 2020 2020 2019 2019
Ending Balances by Type:
Total loans
Commercial:
Commercial and industrial
 $ 34,895  43  % $ 34,879  44  % $ 32,959  42  % $ 30,664  41  % $ 30,394  41  %
Commercial real estate:
Construction
 1,154  1  1,200  1  1,180  2  1,123  1  1,157  2 
Commercial
 6,055  7  5,979  7  5,793  7  5,551  7  5,698  8 
Commercial real estate
 7,209  8  7,179  8  6,973  9  6,674  8  6,855  10 
Total commercial
 42,104  51  42,058  52  39,932  51  37,338  49  37,249  51 
Consumer:
Automobile
 12,925  17  12,678  16  12,907  17  12,797  17  12,292  15 
Home equity
 8,904  11  8,866  11  9,010  11  9,093  12  9,300  12 
Residential mortgage
 12,031  15  11,621  15  11,398  15  11,376  15  11,247  15 
RV and marine
 4,146  5  3,843  5  3,643  5  3,563  5  3,553  5 
Other consumer
 1,046  1  1,073  1  1,145  1  1,237  2  1,251  2 
Total consumer
 39,052  49  38,081  48  38,103  49  38,066  51  37,643  49 
Total loans and leases
 $ 81,156  100  % $ 80,139  100  % $ 78,035  100  % $ 75,404  100  % $ 74,892  100  %
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2020 2020 2020 2019 2019
Ending Balances by Business Segment:
Consumer and Business Banking $ 27,517  34  % $ 27,173  34  % $ 21,544  28  % $ 21,716  29  % $ 21,963  30  %
Commercial Banking 26,847  33  26,916  34  29,421  38  27,050  36  27,090  36 
Vehicle Finance 19,891  25  19,345  24  20,552  26  20,190  27  19,484  26 
RBHPCG 6,682  8  6,576  8  6,457  8  6,366  8  6,294  8 
Treasury / Other 219  —  129  —  61  —  82  —  61  — 
Total loans and leases $ 81,156  100  % $ 80,139  100  % $ 78,035  100  % $ 75,404  100  % $ 74,892  100  %
Average Balances by Business Segment:
Consumer and Business Banking $ 27,315  34  % $ 25,379  32  % $ 21,593  29  % $ 21,845  30  % $ 22,092  30  %
Commercial Banking 26,809  34  28,173  35  27,238  36  26,993  36  27,295  36 
Vehicle Finance 19,651  24  19,822  25  20,307  27  19,852  26  19,370  26 
RBHPCG 6,630  8  6,498  8  6,415  8  6,314  8  6,237  8 
Treasury / Other 137  —  327  —  143  —  99  —  102  — 
Total loans and leases
 $ 80,542  100  % $ 80,199  100  % $ 75,696  100  % $ 75,103  100  % $ 75,096  100  %

5

Huntington Bancshares Incorporated
Deposits Composition
(Unaudited)
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2020 2020 2020 2019 2019
Ending Balances by Type:
Demand deposits - noninterest-bearing
 $ 27,466  29  % $ 27,574  29  % $ 21,039  24  % $ 20,247  25  % $ 20,553  25  %
Demand deposits - interest-bearing
 24,242  25  22,961  25  23,115  27  20,583  25  19,976  24 
Money market deposits 26,230  28  25,312  27  25,068  29  24,726  30  23,977  29 
Savings and other domestic deposits
 11,268  12  11,034  12  9,845  11  9,549  12  9,566  12 
Core certificates of deposit (1)
 1,586  2  2,478  3  3,599  4  4,356  5  5,443  7 
Total core deposits
 90,792  96  89,359  96  82,666  95  79,461  97  79,515  97 
Other domestic deposits of $250,000 or more
 156  —  209  —  276  —  313  —  326  — 
Brokered deposits and negotiable CDs
 4,206  4  4,123  4  3,888  5  2,573  3  2,554  3 
Total deposits
 $ 95,154  100  % $ 93,691  100  % $ 86,830  100  % $ 82,347  100  % $ 82,395  100  %
Total core deposits:
Commercial
 $ 43,018  47  % $ 41,630  47  % $ 38,064  46  % $ 34,957  44  % $ 35,247  44  %
Consumer
 47,774  53  47,729  53  44,602  54  44,504  56  44,268  56 
Total core deposits
 $ 90,792  100  % $ 89,359  100  % $ 82,666  100  % $ 79,461  100  % $ 79,515  100  %
Ending Balances by Business Segment:
Consumer and Business Banking $ 59,302  62  % $ 59,202  63  % $ 51,898  60  % $ 51,675  63  % $ 51,671  63  %
Commercial Banking 23,599  25  22,041  24  23,530  27  20,762  25  21,088  26 
Vehicle Finance 777  1  824  1  525  1  376  —  363  — 
RBHPCG 6,623  7  6,834  7  6,265  7  6,370  8  6,101  7 
Treasury / Other (2) 4,853  5  4,790  5  4,612  5  3,164  4  3,172  4 
Total deposits
 $ 95,154  100  % $ 93,691  100  % $ 86,830  100  % $ 82,347  100  % $ 82,395  100  %
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2020 2020 2020 2019 2019
Average Balances by Business Segment:
Consumer and Business Banking $ 59,460  63  % $ 56,858  61  % $ 51,296  62  % $ 52,059  63  % $ 51,604  63  %
Commercial Banking 23,285  24  24,414  26  21,525  26  20,974  25  21,227  26 
Vehicle Finance 839  1  646  1  366  —  347  —  359  — 
RBHPCG 6,605  7  6,565  7  6,100  7  6,113  7  5,958  7 
Treasury / Other (2) 4,860  5  4,739  5  3,446  5  3,099  5  3,101  4 
Total deposits
 $ 95,049  100  % $ 93,222  100  % $ 82,733  100  % $ 82,592  100  % $ 82,249  100  %
(1)Includes consumer certificates of deposit of $250,000 or more.
(2)Comprised primarily of national market deposits.
6

Huntington Bancshares Incorporated
Consolidated Quarterly Average Balance Sheets
(Unaudited)
Quarterly Average Balances (1)
September 30, June 30, March 31, December 31, September 30, Percent Changes vs.
(dollar amounts in millions) 2020 2020 2020 2019 2019 2Q20 3Q19
Assets
Interest-bearing deposits in Federal Reserve Bank $ 5,857  $ 3,413  $ 680  $ 672  $ 514  72  % 1,039  %
Interest-bearing deposits in banks
 177  169  150  176  149  5  19 
Securities:
Trading account securities
 49  39  95  109  137  26  (64)
Available-for-sale securities:
Taxable
 10,670  11,179  11,671  11,221  11,096  (5) (4)
Tax-exempt
 2,749  2,728  2,753  2,791  2,820  1  (3)
Total available-for-sale securities
 13,419  13,907  14,424  14,012  13,916  (4) (4)
Held-to-maturity securities - taxable
 8,932  9,798  9,428  8,592  8,566  (9) 4 
Other securities 430  474  445  448  437  (9) (2)
Total securities
 22,830  24,218  24,392  23,161  23,056  (6) (1)
Loans held for sale
 1,259  1,039  865  950  877  21  44 
Loans and leases: (2)
Commercial:
Commercial and industrial
 34,669  35,284  30,849  30,373  30,632  (2) 13 
Commercial real estate:
Construction
 1,175  1,201  1,165  1,181  1,165  (2) 1 
Commercial
 6,045  5,885  5,566  5,625  5,762  3  5 
Commercial real estate
 7,220  7,086  6,731  6,806  6,927  2  4 
Total commercial
 41,889  42,370  37,580  37,179  37,559  (1) 12 
Consumer:
Automobile
 12,889  12,681  12,924  12,607  12,181  2  6 
Home equity
 8,878  8,897  9,026  9,192  9,353  —  (5)
Residential mortgage
 11,817  11,463  11,391  11,330  11,214  3  5 
RV and marine 4,020  3,706  3,590  3,564  3,528  8  14 
Other consumer
 1,049  1,082  1,185  1,231  1,261  (3) (17)
Total consumer
 38,653  37,829  38,116  37,924  37,537  2  3 
Total loans and leases
 80,542  80,199  75,696  75,103  75,096  —  7 
Allowance for loan and lease losses
 (1,720) (1,557) (1,239) (787) (799) (10) (115)
Net loans and leases
 78,822  78,642  74,457  74,316  74,297  —  6 
Total earning assets
 110,665  109,038  101,783  100,062  99,692  1  11 
Cash and due from banks
 1,173  1,299  914  864  817  (10) 44 
Intangible assets
 2,195  2,206  2,217  2,228  2,240  —  (2)
All other assets
 7,216  7,205  6,472  6,346  6,216  —  16 
Total assets
 $ 119,529  $ 118,191  $ 110,147  $ 108,713  $ 108,166  1  % 11  %
Liabilities and shareholders’ equity
Interest-bearing deposits:
Demand deposits - interest-bearing
 $ 23,865  $ 23,878  $ 21,202  $ 20,140  $ 19,796  —  % 21  %
Money market deposits
 26,200  25,728  24,697  24,560  24,266  2  8 
Savings and other domestic deposits
 11,157  10,609  9,632  9,552  9,681  5  15 
Core certificates of deposit (3)
 2,035  3,003  3,943  4,795  5,666  (32) (64)
Other domestic deposits of $250,000 or more
 175  230  321  313  315  (24) (44)
Brokered deposits and negotiable CDs
 4,182  4,114  2,884  2,589  2,599  2  61 
Total interest-bearing deposits
 67,614  67,562  62,679  61,949  62,323  —  8 
Short-term borrowings
 162  826  3,383  1,965  2,331  (80) (93)
Long-term debt
 9,318  9,802  10,076  9,886  9,536  (5) (2)
Total interest-bearing liabilities
 77,094  78,190  76,138  73,800  74,190  (1) 4 
Demand deposits - noninterest-bearing
 27,435  25,660  20,054  20,643  19,926  7  38 
All other liabilities
 2,322  2,396  2,319  2,386  2,336  (3) (1)
Shareholders’ equity
 12,678  11,945  11,636  11,884  11,714  6  8 
Total liabilities and shareholders’ equity
 $ 119,529  $ 118,191  $ 110,147  $ 108,713  $ 108,166  1  % 11  %
(1)Amounts include the effects of hedge and risk management activities associated with the respective asset and liability categories.
(2)Includes nonaccrual loans.
(3)Includes consumer certificates of deposit of $250,000 or more.
7

Huntington Bancshares Incorporated
Consolidated Quarterly Net Interest Margin - Interest Income / Expense (1)(2)
(Unaudited)
Quarterly Interest Income / Expense
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2020 2020 2020 2019 2019
Assets
Interest-bearing deposits in Federal Reserve Bank $ 1  $ 1  $ 2  $ 3  $ 3 
Interest-bearing deposits in banks
 —  —  1  1  1 
Securities:
Trading account securities
 —  —  1  1  — 
Available-for-sale securities:
Taxable
 50  65  76  73  74 
Tax-exempt
 18  19  23  24  26 
Total available-for-sale securities
 68  84  99  97  100 
Held-to-maturity securities - taxable
 52  58  59  54  54 
Other securities 1  1  2  3  3 
Total securities
 121  143  161  155  157 
Loans held for sale
 9  9  7  8  9 
Loans and leases:
Commercial:
Commercial and industrial
 325  323  318  335  358 
Commercial real estate:
Construction
 10  11  14  15  16 
Commercial
 41  43  56  63  68 
Commercial real estate
 51  54  70  78  84 
Total commercial
 376  377  388  413  442 
Consumer:
Automobile
 128  121  130  131  126 
Home equity
 84  82  107  117  127 
Residential mortgage
 101  101  105  105  107 
RV and marine
 47  43  44  45  44 
Other consumer
 30  30  36  39  42 
Total consumer
 390  377  422  437  446 
Total loans and leases
 766  754  810  850  888 
Total earning assets
 $ 897  $ 907  $ 981  $ 1,017  $ 1,058 
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing
 $ 3  $ 4  $ 23  $ 32  $ 29 
Money market deposits 18  25  50  61  73 
Savings and other domestic deposits
 2  3  4  5  5 
Core certificates of deposit (3)
 6  11  19  25  31 
Other domestic deposits of $250,000 or more
 —  1  1  3  1 
Brokered deposits and negotiable CDs
 2  3  8  10  15 
Total interest-bearing deposits
 31  47  105  136  154 
Short-term borrowings
 —  1  12  8  13 
Long-term debt
 44  62  68  87  86 
Total interest bearing liabilities
 75  110  185  231  253 
Net interest income
 $ 822  $ 797  $ 796  $ 786  $ 805 
(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.


8

Huntington Bancshares Incorporated
Consolidated Quarterly Net Interest Margin - Yield
(Unaudited)
 Quarterly Average Rates
September 30, June 30, March 31, December 31, September 30,
Fully-taxable equivalent basis (1)
 2020 2020 2020 2019 2019
Assets
Interest-bearing deposits in Federal Reserve Bank 0.10  % 0.10  % 1.08  % 1.66  % 2.19  %
Interest-bearing deposits in banks
 0.13  0.33  1.52  1.81  2.38 
Securities:
Trading account securities
 3.18  1.99  3.21  2.45  2.36 
Available-for-sale securities:
Taxable
 1.89  2.30  2.62  2.63  2.67 
Tax-exempt
 2.71  2.75  3.30  3.43  3.63 
Total available-for-sale securities
 2.06  2.39  2.75  2.79  2.87 
Held-to-maturity securities - taxable
 2.28  2.39  2.50  2.50  2.51 
Other securities 1.23  0.57  2.07  2.57  3.15 
Total securities
 2.13  2.35  2.64  2.68  2.74 
Loans held for sale
 2.82  3.22  3.39  3.40  3.69 
Loans and leases: (3)
Commercial:
Commercial and industrial
 3.67  3.62  4.12  4.31  4.57 
Commercial real estate:
Construction
 3.40  3.66  4.75  5.07  5.50 
Commercial
 2.63  2.94  4.00  4.36  4.67 
Commercial real estate
 2.75  3.06  4.13  4.48  4.81 
Total commercial
 3.52  3.53  4.12  4.34  4.61 
Consumer:
Automobile
 3.93  3.84  4.05  4.15  4.09 
Home equity
 3.79  3.73  4.75  5.03  5.38 
Residential mortgage
 3.41  3.51  3.70  3.73  3.80 
RV and marine 4.60  4.71  4.91  4.96  4.96 
Other consumer
 11.23  11.10  12.39  12.71  13.34 
Total consumer
 4.00  4.00  4.45  4.59  4.72 
Total loans and leases
 3.75  3.75  4.29  4.47  4.67 
Total earning assets
 3.22  3.35  3.88  4.03  4.21 
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing
 0.05  0.07  0.43  0.63  0.57 
Money market deposits 0.28  0.40  0.81  0.99  1.20 
Savings and other domestic deposits
 0.06  0.10  0.17  0.20  0.22 
Core certificates of deposit (4)
 1.03  1.55  1.91  2.09  2.17 
Other domestic deposits of $250,000 or more
 0.92  1.25  1.56  1.70  1.85 
Brokered deposits and negotiable CDs
 0.19  0.18  1.22  1.67  2.21 
Total interest-bearing deposits
 0.18  0.28  0.68  0.87  0.98 
Short-term borrowings
 0.30  0.47  1.46  1.66  2.28 
Long-term debt
 1.87  2.58  2.70  3.50  3.59 
Total interest-bearing liabilities
 0.39  0.57  0.98  1.24  1.36 
Net interest rate spread
 2.83  2.78  2.90  2.79  2.85 
Impact of noninterest-bearing funds on margin
 0.13  0.16  0.24  0.33  0.35 
Net interest margin
 2.96  % 2.94  % 3.14  % 3.12  % 3.20  %
Commercial Loan Derivative Impact
(Unaudited)
Average Rates
2020 2020 2020 2019 2019
Fully-taxable equivalent basis (1)
 Third Second First Fourth Third
Commercial loans (2)(3)
 3.01  % 3.17  % 4.08  % 4.36  % 4.70  %
Impact of commercial loan derivatives
 0.51  0.36  0.04  (0.02) (0.09)
Total commercial - as reported
 3.52  % 3.53  % 4.12  % 4.34  % 4.61  %
Average 1 Month LIBOR
 0.16  % 0.36  % 1.41  % 1.79  % 2.18  %
(1)Fully-taxable equivalent (FTE) yields are calculated assuming a 21% tax rate. See page 10 for the FTE adjustment.
(2)Yield/rates exclude the effects of hedge and risk management activities associated with the respective asset and liability categories.
(3)Includes nonaccrual loans.
(4)Includes consumer certificates of deposit of $250,000 or more.
9

Huntington Bancshares Incorporated
Selected Quarterly Income Statement Data
(Unaudited)
Three Months Ended
(dollar amounts in millions, except per share data) September 30, June 30, March 31, December 31, September 30,
2020 2020 2020 2019 2019
Interest income
 $ 892  $ 902  $ 975  $ 1,011  $ 1,052 
Interest expense
 75  110  185  231  253 
Net interest income
 817  792  790  780  799 
Provision for credit losses
 177  327  441  79  82 
Net interest income after provision for credit losses
 640  465  349  701  717 
Service charges on deposit accounts 76  60  87  95  98 
Card and payment processing income 66  59  58  64  64 
Trust and investment management services 48  45  47  47  44 
Mortgage banking income 122  96  58  58  54 
Capital markets fees 27  31  33  31  36 
Insurance income 24  25  23  24  20 
Bank owned life insurance income 17  17  16  17  18 
Gain on sale of loans and leases 13  8  8  16  13 
Net (losses) gains on sales of securities —  (1) —  (22) — 
Other noninterest income 37  51  31  42  42 
Total noninterest income
 430  391  361  372  389 
Personnel costs 453  418  395  426  406 
Outside data processing and other services 98  90  85  89  87 
Equipment 44  46  41  42  41 
Net occupancy 40  39  40  41  38 
Professional services 12  11  11  14  16 
Amortization of intangibles 10  10  11  12  12 
Marketing 9  5  9  9  10 
Deposit and other insurance expense 6  9  9  10  8 
Other noninterest expense 40  47  51  58  49 
Total noninterest expense
 712  675  652  701  667 
Income before income taxes
 358  181  58  372  439 
Provision for income taxes
 55  31  10  55  67 
Net income
 303  150  48  317  372 
Dividends on preferred shares
 28  19  18  19  18 
Net income applicable to common shares
 $ 275  $ 131  $ 30  $ 298  $ 354 
Average common shares - basic
 1,017  1,016  1,018  1,029  1,035 
Average common shares - diluted
1,031  1,029  1,035  1,047  1,051 
Per common share
Net income - basic
 $ 0.27  $ 0.13  $ 0.03  $ 0.29  $ 0.34 
Net income - diluted
 0.27  0.13  0.03  0.28  0.34 
Cash dividends declared
 0.15  0.15  0.15  0.15  0.15 
Revenue - fully-taxable equivalent (FTE)
Net interest income
 $ 817  $ 792  $ 790  $ 780  $ 799 
FTE adjustment
 5  5  6  6  6 
Net interest income (1)
 822  797  796  786  805 
Noninterest income
 430  391  361  372  389 
Total revenue (1)
 $ 1,252  $ 1,188  $ 1,157  $ 1,158  $ 1,194 
(1)On a fully-taxable equivalent (FTE) basis assuming a 21% tax rate.

10

Huntington Bancshares Incorporated
Quarterly Mortgage Banking Noninterest Income
(Unaudited)
Three Months Ended
September 30, June 30, March 31, December 31, September 30,
Percent Changes vs.
(dollar amounts in millions)
 2020 2020 2020 2019 2019 2Q20 3Q19
Net origination and secondary marketing income
 $ 118  $ 91  $ 45  $ 43  $ 42  30  % 181  %
Net mortgage servicing income
          Loan servicing income
 15  14  16  15  15  7  — 
          Amortization of capitalized servicing (15) (12) (9) (13) (13) (25) (15)
    Operating income
 —  2  7  2  2  (100) (100)
          MSR valuation adjustment (1) 3  (6) (53) 25  (11) 150  127 
          Gains (losses) due to MSR hedging
 (1) 6  57  (14) 19  (117) (105)
     Net MSR risk management 2  —  4  11  8  100  (75)
Total net mortgage servicing income
 $ 2  $ 2  $ 11  $ 13  $ 10  —  % (80) %
All other 2  3  2  2  2  (33) — 
Mortgage banking income
 $ 122  $ 96  $ 58  $ 58  $ 54  27  % 126  %
Mortgage origination volume $ 3,811  $ 3,802  $ 2,136  $ 2,490  $ 2,097  —  % 82  %
Mortgage origination volume for sale
 2,568  2,268  1,409  1,518  1,483  13  73 
Third party mortgage loans serviced (2) 23,334  23,184  22,775  22,425  21,674  1  8 
Mortgage servicing rights (2) 191  172  165  212  180  11  6 
MSR % of investor servicing portfolio (2) 0.82  % 0.74  % 0.72  % 0.95  % 0.83  % 11  % (1) %
(1)The change in fair value for the period represents the MSR valuation adjustment, net of amortization of capitalized servicing.
(2)At period end.
11

Huntington Bancshares Incorporated
Quarterly Credit Reserves Analysis
(Unaudited)
Three Months Ended
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2020 2020 2020 2019 2019
Allowance for loan and lease losses, beginning of period
 $ 1,702  $ 1,504  $ 783  $ 783  $ 774 
Cumulative-effect of change in accounting principle for financial instruments - credit losses (ASU 2016-13) —  —  391  —  — 
Loan and lease losses
 (141) (123) (136) (93) (102)
Recoveries of loans previously charged off
 28  16  19  20  29 
Net loan and lease losses
 (113) (107) (117) (73) (73)
Provision for loan and lease losses
 207  305  447  74  82 
Allowance of assets sold or transferred to loans held for sale
 —  —  —  (1) — 
Allowance for loan and lease losses, end of period
 1,796  1,702  1,504  783  783 
Allowance for unfunded loan commitments and letters of credit, beginning of period
 119  99  104  101  101 
Cumulative-effect of change in accounting principle for financial instruments - credit losses (ASU 2016-13) —  —  2  —  — 
Provision for (reduction in) unfunded loan commitments and letters of credit losses
 (30) 22  (6) 5  — 
Unfunded commitment losses (7) (2) (1) (2) — 
Allowance for unfunded loan commitments and letters of credit, end of period
 82  119  99  104  101 
Total allowance for credit losses, end of period
 $ 1,878  $ 1,821  $ 1,603  $ 887  $ 884 
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases
 2.21  % 2.12  % 1.93  % 1.04  % 1.05  %
Nonaccrual loans and leases (NALs)
 316  263  270  167  179 
Nonperforming assets (NPAs)
 298  239  257  157  163 
Total allowance for credit losses (ACL) as % of:
Total loans and leases
 2.31  % 2.27  % 2.05  % 1.18  % 1.18  %
Nonaccrual loans and leases (NALs) 330  281  287  190  202 
Nonperforming assets (NPAs) 311  255  273  178  184 

12

Huntington Bancshares Incorporated
Quarterly Net Charge-Off Analysis
(Unaudited)
Three Months Ended
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2020 2020 2020 2019 2019
Net charge-offs by loan and lease type:
Commercial:
Commercial and industrial
 $ 77  $ 80  $ 84  $ 36  $ 40 
Commercial real estate:
Construction
 (1) 1  —  —  (1)
Commercial
 13  (1) (1) —  (1)
Commercial real estate
 12  —  (1) —  (2)
Total commercial
 89  80  83  36  38 
Consumer:
Automobile
 10  10  7  9  8 
Home equity
 —  —  5  1  2 
Residential mortgage
 1  —  1  1  1 
RV and marine
 4  4  2  4  2 
Other consumer
 9  13  19  22  22 
Total consumer
 24  27  34  37  35 
Total net charge-offs
 $ 113  $ 107  $ 117  $ 73  $ 73 
Three Months Ended
September 30, June 30, March 31, December 31, September 30,
2020 2020 2020 2019 2019
Net charge-offs - annualized percentages:
Commercial:
Commercial and industrial
 0.90  % 0.90  % 1.09  % 0.47  % 0.52  %
Commercial real estate:
Construction
 (0.25) (0.01) 0.08  (0.03) (0.40)
Commercial
 0.80  (0.03) (0.06) 0.01  (0.09)
Commercial real estate
 0.63  (0.03) (0.03) —  (0.14)
Total commercial
 0.85  0.75  0.89  0.38  0.40 
Consumer:
Automobile
 0.31  0.31  0.22  0.30  0.26 
Home equity
 (0.02) 0.08  0.19  0.02  0.11 
Residential mortgage
 0.03  0.02  0.02  0.04  0.03 
RV and marine
 0.38  0.37  0.27  0.39  0.23 
Other consumer
 3.55  4.80  6.45  7.26  7.07 
Total consumer
 0.24  0.30  0.35  0.39  0.38 
Net charge-offs as a % of average loans
 0.56  % 0.54  % 0.62  % 0.39  % 0.39  %

13

Huntington Bancshares Incorporated
Quarterly Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)(1)
(Unaudited)
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions)
 2020 2020 2020 2019 2019
Nonaccrual loans and leases (NALs):
Commercial and industrial
 $ 388  $ 485  $ 396  $ 323  $ 291 
Commercial real estate
 16  28  30  10  12 
Automobile
 5  8  6  4  5 
Home equity
 71  59  58  59  60 
Residential mortgage
 88  66  66  71  69 
RV and marine
 1  2  2  1  1 
Other consumer
 —  —  —  —  — 
Total nonaccrual loans and leases
 569  648  558  468  438 
Other real estate, net:
Residential
 4  5  8  9  10 
Commercial
 1  2  2  2  2 
Total other real estate, net
 5  7  10  11  12 
Other NPAs (2)
 28  58  18  19  32 
Total nonperforming assets
 $ 602  $ 713  $ 586  $ 498  $ 482 
Nonaccrual loans and leases as a % of total loans and leases
 0.70  % 0.81  % 0.72  % 0.62  % 0.58  %
NPA ratio (3)
 0.74  0.89  0.75  0.66  0.64 
(NPA+90days)/(Loan+OREO) (4)
 0.96  1.13  0.96  0.89  0.86 
Three Months Ended
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2020 2020 2020 2019 2019
Nonperforming assets, beginning of period
 $ 713  $ 586  $ 498  $ 482  $ 460 
New nonperforming assets
 190  279  274  175  165 
Returns to accruing status
 (47) (25) (18) (20) (24)
Loan and lease losses
 (102) (61) (91) (48) (66)
Payments
 (77) (63) (70) (63) (38)
Sales
 (75) (3) (7) (28) (15)
Nonperforming assets, end of period
 $ 602  $ 713  $ 586  $ 498  $ 482 
(1)Generally excludes loans that were under payment deferral or granted other assistance, including amendments or waivers of financial covenants in response to the COVID-19 pandemic.
(2)Other nonperforming assets include certain impaired securities and/or nonaccrual loans held-for-sale.
(3)Nonperforming assets divided by the sum of loans and leases, net other real estate owned, and other NPAs.
(4)The sum of nonperforming assets and total accruing loans and leases past due 90 days or more divided by the sum of loans and leases and other real estate.

14

Huntington Bancshares Incorporated
Quarterly Accruing Past Due Loans and Leases and Accruing and Nonaccruing Troubled Debt Restructured Loans
(Unaudited)
  September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2020 2020 2020 2019 2019
Accruing loans and leases past due 90+ days:
Commercial and industrial
 $ 10  $ 13  $ 10  $ 11  $ 9 
Commercial real estate
 —  —  —  —  — 
Automobile
 8  8  8  8  8 
Home equity 11  10  12  14  13 
Residential mortgage (excluding loans guaranteed by the U.S. Government)
 18  17  21  20  23 
RV and marine 2  2  2  2  1 
Other consumer
 2  3  4  7  7 
Total, excl. loans guaranteed by the U.S. Government
 51  53  57  62  61 
Add: loans guaranteed by U.S. Government
 124  141  110  109  102 
Total accruing loans and leases past due 90+ days, including loans guaranteed by the U.S. Government
 $ 175  $ 194  $ 167  $ 171  $ 163 
Ratios:
Excluding loans guaranteed by the U.S. Government, as a percent of total loans and leases
 0.06  % 0.07  % 0.07  % 0.08  % 0.08  %
Guaranteed by U.S. Government, as a percent of total loans and leases
 0.15  0.18  0.14  0.14  0.14 
Including loans guaranteed by the U.S. Government, as a percent of total loans and leases
 0.22  0.24  0.21  0.23  0.22 
Accruing troubled debt restructured loans:
Commercial and industrial
 $ 189  $ 192  $ 219  $ 213  $ 225 
Commercial real estate
 34  35  37  37  40 
Automobile
 53  52  42  40  39 
Home equity
 199  209  219  226  233 
Residential mortgage
 256  229  227  223  221 
RV and marine 6  6  3  3  3 
Other consumer
 10  10  11  11  10 
Total accruing troubled debt restructured loans
 $ 747  $ 733  $ 758  $ 753  $ 771 
Nonaccruing troubled debt restructured loans:
Commercial and industrial
 $ 146  $ 169  $ 119  $ 109  $ 84 
Commercial real estate
 3  3  4  6  6 
Automobile
 2  2  2  2  3 
Home equity
 29  26  25  26  26 
Residential mortgage
 48  43  42  42  44 
RV and marine 1  1  2  1  1 
Other consumer
 —  —  —  —  — 
Total nonaccruing troubled debt restructured loans
 $ 229  $ 244  $ 194  $ 186  $ 164 

15

Huntington Bancshares Incorporated
Quarterly Capital Under Current Regulatory Standards (Basel III) and Other Capital Data
(Unaudited)
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2020 2020 2020 2019 2019
Common equity tier 1 risk-based capital ratio: (1)
Total shareholders’ equity
 $ 12,917  $ 12,314  $ 11,769  $ 11,795  $ 11,909 
Regulatory capital adjustments:
CECL transitional amount (2) 456  442  386  —  — 
Shareholders’ preferred equity
 (2,195) (1,701) (1,207) (1,207) (1,207)
Accumulated other comprehensive income offset
 (257) (290) (227) 256  175 
Goodwill and other intangibles, net of related taxes
 (2,118) (2,129) (2,141) (2,153) (2,162)
Deferred tax assets that arise from tax loss and credit carryforwards
 (59) (40) (42) (44) (30)
Common equity tier 1 capital
 8,744  8,596  8,538  8,647  8,685 
Additional tier 1 capital
Shareholders’ preferred equity
 2,195  1,701  1,207  1,207  1,207 
Other
 —  —  1  —  1 
Tier 1 capital
 10,939  10,297  9,746  9,854  9,893 
Long-term debt and other tier 2 qualifying instruments
 677  697  619  672  750 
Qualifying allowance for loan and lease losses
 1,107  1,093  1,127  887  884 
Tier 2 capital
 1,784  1,790  1,746  1,559  1,634 
Total risk-based capital
 $ 12,723  $ 12,087  $ 11,492  $ 11,413  $ 11,527 
Risk-weighted assets (RWA)(1)
 $ 88,417  $ 87,323  $ 90,193  $ 87,512  $ 86,719 
Common equity tier 1 risk-based capital ratio (1)
 9.89  % 9.84  % 9.47  % 9.88  % 10.02  %
Other regulatory capital data:
Tier 1 leverage ratio (1)
 9.31  8.86  9.01  9.26  9.34 
Tier 1 risk-based capital ratio (1)
 12.37  11.79  10.81  11.26  11.41 
Total risk-based capital ratio (1)
 14.39  13.84  12.74  13.04  13.29 
Non-regulatory capital data:
Tangible common equity / RWA ratio (1)
 9.70  9.69  9.32  9.62  9.83 
(1)September 30, 2020, figures are estimated.
(2)The CECL transitional amount includes the impact of Huntington's adoption of the new CECL accounting standard on January 1, 2020 and 25 percent of the increase in reserves from January 1, 2020 through September 30, 2020.
16

Huntington Bancshares Incorporated
Quarterly Common Stock Summary, Non-Regulatory Capital, and Other Data
(Unaudited)
Quarterly common stock summary
September 30, June 30, March 31, December 31, September 30,
2020 2020 2020 2019 2019
Dividends, per share
Cash dividends declared per common share
 $ 0.15  $ 0.15  $ 0.15  $ 0.15  $ 0.15 
Common shares outstanding
Average - basic
1,017  1,016  1,018  1,029  1,035 
Average - diluted
1,031  1,029  1,035  1,047  1,051 
Ending
1,017  1,017  1,014  1,020  1,033 
Tangible book value per common share (1)
 $ 8.43  $ 8.32  $ 8.28  $ 8.25  $ 8.25 
Common share repurchases
Number of shares repurchased
—  —  7  13  5 
Non-regulatory capital
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2020 2020 2020 2019 2019
Calculation of tangible equity / asset ratio:
Total shareholders’ equity
 $ 12,917  $ 12,314  $ 11,769  $ 11,795  $ 11,909 
Less: goodwill
 (1,990) (1,990) (1,990) (1,990) (1,990)
Less: other intangible assets
 (201) (211) (222) (232) (244)
Add: related deferred tax liability (1)
 42  44  47  49  51 
Total tangible equity
 10,768  10,157  9,604  9,622  9,726 
Less: preferred equity
 (2,192) (1,697) (1,203) (1,203) (1,203)
Total tangible common equity
 $ 8,576  $ 8,460  $ 8,401  $ 8,419  $ 8,523 
Total assets
 $ 120,116  $ 118,425  $ 113,897  $ 109,002  $ 108,735 
Less: goodwill
 (1,990) (1,990) (1,990) (1,990) (1,990)
Less: other intangible assets
 (201) (211) (222) (232) (244)
Add: related deferred tax liability (1)
 42  44  47  49  51 
Total tangible assets
 $ 117,967  $ 116,268  $ 111,732  $ 106,829  $ 106,552 
Tangible equity / tangible asset ratio
 9.13  % 8.74  % 8.60  % 9.01  % 9.13  %
Tangible common equity / tangible asset ratio
 7.27  7.28  7.52  7.88  8.00 
Other data:
Number of employees (Average full-time equivalent)
 15,680  15,703  15,386  15,495  15,659 
Number of domestic full-service branches (2)
 839  839  839  868  868 
ATM Count
 1,330  1,344  1,434  1,448  1,442 
(1)Other intangible assets are net of deferred tax liability, calculated at a 21% tax rate.
(2)Includes Regional Banking and The Huntington Private Client Group offices.



17

Huntington Bancshares Incorporated
Consolidated Year To Date Average Balance Sheets
(Unaudited)
YTD Average Balances (1)
Nine Months Ended September 30,
Change
(dollar amounts in millions)
 2020 2019
Amount
Percent
Assets
Interest-bearing deposits in Federal Reserve Bank $ 3,326  $ 511  $ 2,815  551  %
Interest-bearing deposits in banks
 166  131  35  27 
Securities:
Trading account securities
 61  146  (85) (58)
Available-for-sale securities:
Taxable
 11,171  10,784  387  4 
Tax-exempt
 2,743  2,945  (202) (7)
Total available-for-sale securities
 13,914  13,729  185  1 
Held-to-maturity securities - taxable
 9,384  8,663  721  8 
Other securities 450  479  (29) (6)
Total securities
 23,809  23,017  977  3 
Loans held for sale
 1,055  771  284  37 
Loans and leases: (2)
Commercial:
Commercial and industrial
 33,604  30,608  2,996  10 
Commercial real estate:
Construction
 1,180  1,169  11  1 
Commercial
 5,833  5,727  106  2 
Commercial real estate
 7,013  6,896  117  2 
Total commercial
 40,617  37,504  3,113  8 
Consumer:
Automobile
 12,832  12,253  579  5 
Home equity
 8,933  9,491  (558) (6)
Residential mortgage
 11,558  11,005  553  5 
RV and marine 3,773  3,413  360  11 
Other consumer
 1,105  1,270  (165) (13)
Total consumer
 38,201  37,432  769  2 
Total loans and leases
 78,818  74,936  3,882  5 
Allowance for loan and lease losses
 (1,506) (786) (720) (92)
Net loans and leases
 77,312  74,150  3,162  4 
Total earning assets
 107,174  99,366  7,808  8 
Cash and due from banks
 1,128  835  293  35 
Intangible assets
 2,206  2,252  (46) (2)
All other assets
 6,966  6,054  912  15 
Total assets
 $ 115,968  $ 107,721  8,247  8  %
Liabilities and shareholders’ equity
Interest-bearing deposits:
Demand deposits - interest-bearing
 $ 22,985  $ 19,763  $ 3,222  16  %
Money market deposits 25,544  23,507  2,037  9 
Savings and other domestic deposits
 10,468  10,039  429  4 
Core certificates of deposit (3)
 2,990  5,858  (2,868) (49)
Other domestic deposits of $250,000 or more
 242  320  (78) (24)
Brokered deposits and negotiable CDs
 3,728  2,893  835  29 
Total interest-bearing deposits
 65,957  62,380  3,577  6 
Short-term borrowings
 1,452  2,605  (1,153) (44)
Long-term debt
 9,730  9,145  585  6 
Total interest-bearing liabilities
 77,139  74,130  3,009  4 
Demand deposits - noninterest-bearing
 24,394  19,864  4,530  23 
All other liabilities
 2,347  2,277  70  3 
Shareholders’ equity
 12,088  11,450  638  6 
Total liabilities and shareholders’ equity
 $ 115,968  $ 107,721  $ 8,247  8  %
(1)Amounts include the effects of hedge and risk management activities associated with the respective asset and liability categories.
(2)Includes nonaccrual loans.
(3)Includes consumer certificates of deposit of $250,000 or more.
18

Huntington Bancshares Incorporated
Consolidated Year To Date Net Interest Margin - Interest Income / Expense (1)(2)
(Unaudited)
YTD Interest Income / Expense
Nine Months Ended September 30,
(dollar amounts in millions)
 2020 2019
Assets
Interest-bearing deposits in Federal Reserve Bank $ 4  $ 9 
Interest-bearing deposits in banks
 1  2 
Securities:
Trading account securities
 1  2 
Available-for-sale securities:
Taxable
 191  222 
Tax-exempt
 60  81 
Total available-for-sale securities
 251  303 
Held-to-maturity securities - taxable
 169  164 
Other securities 4  13 
Total securities
 425  482 
Loans held for sale
 25  23 
Loans and leases:
Commercial:
Commercial and industrial
 966  1,106 
Commercial real estate:
Construction
 35  49 
Commercial
 140  210 
Commercial real estate
 175  259 
Total commercial
 1,141  1,365 
Consumer:
Automobile
 379  369 
Home equity
 273  391 
Residential mortgage
 307  317 
RV and marine 134  126 
Other consumer
 96  126 
Total consumer
 1,189  1,329 
Total loans and leases
 2,330  2,694 
Total earning assets
 $ 2,785  $ 3,210 
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing
 $ 30  $ 84 
Money market deposits 93  199 
Savings and other domestic deposits
 9  17 
Core certificates of deposit (3)
 36  94 
Other domestic deposits of $250,000 or more
 2  4 
Brokered deposits and negotiable CDs
 13  51 
Total interest-bearing deposits
 183  449 
Short-term borrowings
 13  46 
Long-term debt
 174  262 
Total interest-bearing liabilities
 370  757 
Net interest income
 $ 2,415  $ 2,453 
(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.
19

Huntington Bancshares Incorporated
Consolidated Year To Date Net Interest Margin - Yield
(Unaudited)
YTD Average Rates
Nine Months Ended September 30,
Fully-taxable equivalent basis (1)
 2020 2019
Assets
Interest-bearing deposits in Federal Reserve Bank 0.17  % 2.32  %
Interest-bearing deposits in banks
 0.62  2.10 
Securities:
Trading account securities
 2.94  2.10 
Available-for-sale securities:
Taxable
 2.28  2.74 
Tax-exempt
 2.92  3.66 
Total available-for-sale securities
 2.41  2.94 
Held-to-maturity securities - taxable
 2.39  2.52 
Other securities:
Other securities 1.28  3.75 
Total securities
 2.38  2.79 
Loans held for sale
 3.11  3.90 
Loans and leases: (3)
Commercial:
Commercial and industrial
 3.79  4.77 
Commercial real estate:
Construction
 3.93  5.56 
Commercial
 3.17  4.85 
Commercial real estate
 3.29  4.97 
Total commercial
 3.71  4.80 
Consumer:
Automobile
 3.94  4.02 
Home equity
 4.09  5.51 
Residential mortgage
 3.54  3.83 
RV and marine 4.73  4.95 
Other consumer
 11.60  13.29 
Total consumer
 4.15  4.74 
Total loans and leases
 3.92  4.77 
Total earning assets
 3.47  % 4.32  %
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing
 0.17  % 0.57  %
Money market deposits 0.49  1.13 
Savings and other domestic deposits
 0.11  0.23 
Core certificates of deposit (4)
 1.59  2.14 
Other domestic deposits of $250,000 or more
 1.31  1.86 
Brokered deposits and negotiable CDs
 0.45  2.33 
Total interest-bearing deposits
 0.37  0.96 
Short-term borrowings
 1.23  2.37 
Long-term debt
 2.39  3.82 
Total interest-bearing liabilities
 0.64  1.36 
Net interest rate spread
 2.83  2.96 
Impact of noninterest-bearing funds on margin
 0.18  0.34 
Net interest margin
 3.01  % 3.30  %
Commercial Loan Derivative Impact
 (Unaudited)
YTD Average Rates
Nine Months Ended September 30,
Fully-taxable equivalent basis (1)
 2020 2019
Commercial loans (2)(3)
 3.39  % 4.84  %
Impact of commercial loan derivatives
 0.32  (0.04)
Total commercial - as reported
 3.71  % 4.80  %
Average 1 Month LIBOR
 0.65  % 2.37  %
(1)Fully-taxable equivalent (FTE) yields are calculated assuming a 21% tax rate. See page 21 for the FTE adjustment.
(2)Yield/rates exclude the effects of hedge and risk management activities associated with the respective asset and liability categories.
(3)Includes the impact of nonaccrual loans.
(4)Includes consumer certificates of deposit of $250,000 or more.
20

Huntington Bancshares Incorporated
Selected Year To Date Income Statement Data
(Unaudited)
Nine Months Ended September 30, Change
(dollar amounts in millions, except per share data) 2020 2019 Amount Percent
Interest income $ 2,769  $ 3,190  $ (421) (13) %
Interest expense 370  757  (387) (51)
Net interest income 2,399  2,433  (34) (1)
Provision for credit losses 945  208  737  354 
Net interest income after provision for credit losses 1,454  2,225  (771) (35)
Service charges on deposit accounts 223  277  (54) (19)
Card and payment processing income 183  183  —  — 
Trust and investment management services 140  131  9  7 
Mortgage banking income 277  109  168  154 
Capital markets fees 91  92  (1) (1)
Insurance income 72  64  8  13 
Bank owned life insurance income 49  49  —  — 
Gain on sale of loans and leases 30  39  (9) (23)
Net (losses) gains on sales of securities (1) (2) 1  50 
Other noninterest income 118  140  (22) (16)
Total noninterest income 1,182  1,082  100  9 
Personnel costs 1,267  1,228  39  3 
Outside data processing and other services 273  257  16  6 
Equipment 132  121  11  9 
Net occupancy 119  118  1  1 
Professional services 34  40  (6) (15)
Amortization of intangibles 31  37  (6) (16)
Marketing 23  28  (5) (18)
Deposit and other insurance expense 24  24  —  — 
Other noninterest expense 136  167  (31) (19)
Total noninterest expense 2,039  2,020  19  1 
Income before income taxes 597  1,287  (690) (54)
Provision for income taxes 96  193  (97) (50)
Net income 501  1,094  (593) (54)
Dividends on preferred shares 65  55  10  18 
Net income applicable to common shares $ 436  $ 1,039  $ (603) (58) %
Average common shares - basic 1,017  1,042  (25) (2)
Average common shares - diluted 1,032  1,059  (27) (3)
Per common share
Net income - basic $ 0.43  $ 1.00  $ (0.57) (57) %
Net income - diluted 0.42  0.98  (0.56) (57)
Cash dividends declared 0.45  0.43  0.02  5 
Revenue - fully taxable equivalent (FTE)
Net interest income $ 2,399  $ 2,433  $ (34) (1) %
FTE adjustment (1) 16  20  (4) (20)
Net interest income 2,415  2,453  (38) (2)
Noninterest income 1,182  1,082  100  9 
Total revenue (1) $ 3,597  $ 3,535  $ 62  2  %
(1)On a fully-taxable equivalent (FTE) basis assuming a 21% tax rate.
21

Huntington Bancshares Incorporated
Year To Date Mortgage Banking Noninterest Income
(Unaudited)
Nine Months Ended September 30, Change
(dollar amounts in millions)
 2020 2019 Amount Percent
Net origination and secondary marketing income
 $ 254  $ 89  165  185  %
Net mortgage servicing income
          Loan servicing income
 45  44  1  2 
          Amortization of capitalized servicing
 (36) (32) (4) (13)
     Operating income
 9  12  (3) (25)
          MSR valuation adjustment (1)
 (56) (40) (16) (40)
          Gains (losses) due to MSR hedging
 62  43  19  44 
     Net MSR risk management
6  3  3  — 
Total net mortgage servicing income
 $ 15  $ 15  $ —  —  %
All other 7  5  2  40 
Mortgage banking income
 $ 276  $ 109  $ 167  153  %
Mortgage origination volume
 $ 9,749  $ 5,254  $ 4,495  86  %
Mortgage origination volume for sale
 6,245  3,420  2,825  83 
Third party mortgage loans serviced (2)
 23,334  21,674  1,660  8 
Mortgage servicing rights (2)
 191  180  11  6 
MSR % of investor servicing portfolio
0.82  % 0.83  % (0.01) % (1) %
(1)The change in fair value for the period represents the MSR valuation adjustment, net of amortization of capitalized servicing.
(2)At period end.
22

Huntington Bancshares Incorporated
Year To Date Credit Reserves Analysis
(Unaudited)
Nine Months Ended September 30,
(dollar amounts in millions)
 2020 2019
Allowance for loan and lease losses, beginning of period
 $ 783  $ 772 
Cumulative-effect of change in accounting principle for financial instruments - credit losses (ASU 2016-13) $ 391  $ — 
Loan and lease losses
 (400) (269)
Recoveries of loans previously charged off
 63  77 
Net loan and lease losses
 (337) (192)
Provision for loan and lease losses
 959  203 
Allowance for loan and lease losses, end of period
 1,796  783 
Allowance for unfunded loan commitments and letters of credit, beginning of period
 $ 104  $ 96 
Cumulative-effect of change in accounting principle for financial instruments - credit losses (ASU 2016-13) 2  — 
Provision for (reduction in) unfunded loan commitments and letters of credit losses
 (14) 5 
Unfunded commitment losses (10) — 
Allowance for unfunded loan commitments and letters of credit, end of period 82  101 
Total allowance for credit losses
 $ 1,878  $ 884 
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases
 2.21  % 1.05  %
Nonaccrual loans and leases (NALs)
 316  179 
Nonperforming assets (NPAs)
 298  163 
Total allowance for credit losses (ACL) as % of:
Total loans and leases
 2.31  % 1.18  %
Nonaccrual loans and leases (NALs) 330  202 
Nonperforming assets (NPAs) 311  184 
23

Huntington Bancshares Incorporated
Year To Date Net Charge-Off Analysis
(Unaudited)
Nine Months Ended September 30,
(dollar amounts in millions)
 2020 2019
Net charge-offs by loan and lease type:
Commercial:
Commercial and industrial $ 241  $ 92 
Commercial real estate:
Construction —  (2)
Commercial 11  (1)
Commercial real estate 11  (3)
Total commercial
 252  89 
Consumer:
Automobile 27  23 
Home equity 5  7 
Residential mortgage 2  5 
RV and marine
 10  7 
Other consumer 41  61 
Total consumer
 85  103 
Total net charge-offs $ 337  $ 192 
Nine Months Ended September 30,
2020 2019
Net charge-offs - annualized percentages:
Commercial:
Commercial and industrial 0.96  % 0.40  %
Commercial real estate:
Construction (0.06) (0.19)
Commercial 0.25  (0.03)
Commercial real estate 0.20  (0.06)
Total commercial 0.83  0.32 
Consumer:
Automobile 0.28  0.25 
Home equity 0.09  0.10 
Residential mortgage 0.02  0.06 
RV and marine
 0.34  0.29 
Other consumer 4.99  6.41 
Total consumer 0.30  0.37 
Net charge-offs as a % of average loans 0.57  % 0.34  %
24

Huntington Bancshares Incorporated
Year To Date Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)
(Unaudited)
September 30,
(dollar amounts in millions)
 2020 2019
Nonaccrual loans and leases (NALs):
Commercial and industrial $ 388  $ 291 
Commercial real estate 16  12 
Automobile 5  5 
Home equity 71  60 
Residential mortgage 88  69 
RV and marine 1  1 
Other consumer
 —  — 
Total nonaccrual loans and leases 569  438 
Other real estate, net:
Residential 4  10 
Commercial 1  2 
Total other real estate, net 5  12 
Other NPAs (1)
 28  32 
Total nonperforming assets (3)
 $ 602  $ 482 
Nonaccrual loans and leases as a % of total loans and leases 0.70  % 0.58  %
NPA ratio (2)
 0.74  0.64 
Nine Months Ended September 30,
(dollar amounts in millions)
 2020 2019
Nonperforming assets, beginning of period $ 498  $ 387 
New nonperforming assets 743  500 
Returns to accruing status (90) (73)
Loan and lease losses (254) (146)
Payments (210) (125)
Sales and held-for-sale transfers
 (85) (61)
Nonperforming assets, end of period (2)
 $ 602  $ 482 
(1)Other nonperforming assets include certain impaired securities and/or nonaccrual loans held-for-sale.
(2)Nonperforming assets divided by the sum of loans and leases, net other real estate owned, and other NPAs.
(3)Nonaccruing troubled debt restructured loans are included in the total nonperforming assets balance.
25

Huntington Bancshares Incorporated
Year To Date Accruing Past Due Loans and Leases and Accruing and Nonaccruing Troubled Debt Restructured Loans
(Unaudited)
Nine Months Ended September 30,
(dollar amounts in millions)
 2020 2019
Accruing loans and leases past due 90+ days:
Commercial and industrial $ 10  $ 9 
Commercial real estate —  — 
Automobile 8  8 
Home equity 11  13 
Residential mortgage (excluding loans guaranteed by the U.S. Government) 18  23 
RV and marine 2  1 
Other consumer 2  7 
Total, excl. loans guaranteed by the U.S. Government 51  61 
Add: loans guaranteed by U.S. Government 124  102 
Total accruing loans and leases past due 90 days or more, including loans guaranteed by the U.S. Government $ 175  $ 163 
Ratios:
Excluding loans guaranteed by the U.S. Government, as a percent of total loans and leases 0.06  % 0.08  %
Guaranteed by U.S. Government, as a percent of total loans and leases 0.15  0.14 
Including loans guaranteed by the U.S. Government, as a percent of total loans and leases 0.22  0.22 
Accruing troubled debt restructured loans:
Commercial and industrial $ 189  $ 225 
Commercial real estate 34  40 
Automobile 53  39 
Home equity 199  233 
Residential mortgage 256  221 
RV and marine 6  3 
Other consumer 10  10 
Total accruing troubled debt restructured loans $ 747  $ 771 
Nonaccruing troubled debt restructured loans:
Commercial and industrial $ 146  $ 84 
Commercial real estate 3  6 
Automobile 2  3 
Home equity 29  26 
Residential mortgage 48  44 
RV and marine 1  1 
Other consumer —  — 
Total nonaccruing troubled debt restructured loans $ 229  $ 164 




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