Document

Exhibit 99.2

HUNTINGTON BANCSHARES INCORPORATED

Quarterly Financial Supplement

December 31, 2020

Table of Contents


Quarterly Key Statistics			1

Annual Key Statistics			2

Consolidated Balance Sheets			4

Loans and Leases Composition			5

Deposits Composition			6

Consolidated Quarterly Average Balance Sheets			7

Consolidated Quarterly Net Interest Margin - Interest Income / Expense			8

Consolidated Quarterly Net Interest Margin - Yield			9

Selected Quarterly Income Statement Data			10

Quarterly Mortgage Banking Income			11

Quarterly Credit Reserves Analysis			12

Quarterly Net Charge-Off Analysis			13

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

Quarterly Accruing Past Due Loans and Leases and Accruing and Nonaccruing Troubled Debt Restructured Loans			15

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

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



















Consolidated Annual Average Balance Sheets			18

Consolidated Annual Net Interest Margin - Interest Income / Expense			19

Consolidated Annual Net Interest Margin - Yield			20

Selected Annual Income Statement Data			21

Annual Mortgage Banking Income			22

Annual Credit Reserves Analysis			23

Annual Net Charge-Off Analysis			24

Annual Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)			25

Annual Accruing Past Due Loans and Leases and Accruing and Nonaccruing Troubled Debt Restructured Loans			26

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)	December 31,			September 30,			December 31,			Percent Changes vs.
	2020			2020			2019			3Q20		4Q19
Net interest income (2)	$	830		$	822		$	786		1	%	6	%
FTE adjustment	(5)			(5)			(6)			—		17
Net interest income	825			817			780			1		6
Provision for credit losses	103			177			79			(42)		30
Noninterest income	409			430			372			(5)		10
Noninterest expense	756			712			701			6		8
Income before income taxes	375			358			372			5		1
Provision for income taxes	59			55			55			7		7
Net income	316			303			317			4		—
Dividends on preferred shares	35			28			19			25		84
Net income applicable to common shares	$	281		$	275		$	298		2	%	(6)	%

Net income per common share - diluted	$	0.27		$	0.27		$	0.28		—	%	(4)	%
Cash dividends declared per common share	0.15			0.15			0.15			—		—
Tangible book value per common share at end of period	8.51			8.43			8.25			1		3
Number of common shares repurchased	415			—			13,104			100		(97)
Average common shares - basic	1,017			1,017			1,029			—		(1)
Average common shares - diluted	1,036			1,031			1,047			—		(1)
Ending common shares outstanding	1,017			1,017			1,020			—		—
Return on average assets	1.04		%	1.01		%	1.15		%
Return on average common shareholders’ equity	10.4			10.2			11.1
Return on average tangible common shareholders’ equity (1)	13.3			13.2			14.3
Net interest margin (2)	2.94			2.96			3.12
Efficiency ratio (3)	60.2			56.1			58.4
Effective tax rate	15.8			15.2			14.8
Average total assets	$	120,995		$	119,529		$	108,713		1		11
Average earning assets	112,222			110,665			100,062			1		12
Average loans and leases	81,116			80,542			75,103			1		8
Average loans and leases - linked quarter annualized growth rate	2.9		%	1.7		%	—		%
Average total deposits	$	96,564		$	95,049		$	82,592		2		17
Average core deposits (4)	92,325			90,692			79,690			2		16
Average core deposits - linked quarter annualized growth rate	7.2		%	8.2		%	1.8		%
Average shareholders’ equity	12,941			12,678			11,884			2		9
Average common total shareholders' equity	10,749			10,701			10,681			—		1
Average tangible common shareholders' equity	8,605			8,549			8,503			1		1
Total assets at end of period	123,038			120,116			109,002			2		13
Total shareholders’ equity at end of period	12,993			12,917			11,795			1		10

NCOs as a % of average loans and leases	0.55		%	0.56		%	0.39		%
NAL ratio	0.65			0.70			0.62
NPA ratio (5)	0.69			0.74			0.66
Allowance for loan and lease losses (ALLL) as a % of total loans and leases at the end of period	2.22			2.21			1.04
Common equity tier 1 risk-based capital ratio (6)	10.00			9.89			9.88
Tangible common equity / tangible asset ratio (7)	7.16			7.27			7.88

See Notes to the Quarterly Key Statistics.

Huntington Bancshares Incorporated

Annual Key Statistics

(Unaudited)


	Year Ended December 31,						Change
(dollar amounts in millions, except per share data)	2020			2019			Amount		Percent
Net interest income (2)	$	3,245		$	3,239		$	6	—	%
FTE adjustment	(21)			(26)			5		19
Net interest income	3,224			3,213			11		—
Provision for credit losses	1,048			287			761		265
Noninterest income	1,591			1,454			137		9
Noninterest expense	2,795			2,721			74		3
Income before income taxes	972			1,659			(687)		(41)
Provision for income taxes	155			248			(93)		(38)
Net Income	817			1,411			(594)		(42)
Dividends on preferred shares	100			74			26		35
Net income applicable to common shares	$	717		$	1,337		$	(620)	(46)	%

Net income per common share - diluted	$	0.69		$	1.27		$	(0.58)	(46)	%
Cash dividends declared per common share	0.60			0.58			0.02		3

Average common shares - basic	1,017			1,039			(22)		(2)
Average common shares - diluted	1,033			1,056			(23)		(2)

Return on average assets	0.70		%	1.31		%
Return on average common shareholders’ equity	6.8			12.9
Return on average tangible common shareholders’ equity (1)	8.9			16.9
Net interest margin (2)	2.99			3.26
Efficiency ratio (3)	56.9			56.6
Effective tax rate	15.9			15.0

Average total assets	$	117,232		$	107,971		$	9,261	9
Average earning assets	108,443			99,541			8,902		9
Average loans and leases	79,395			74,978			4,417		6
Average total deposits	91,913			82,332			9,581		12
Average core deposits (4)	87,876			79,197			8,679		11
Average shareholders’ equity	12,303			11,560			743		6
Average common total shareholders' equity	10,619			10,357			262		3
Average tangible common shareholders' equity	8,462			8,164			298		4

NCOs as a % of average loans and leases	0.57		%	0.35		%
NAL ratio	0.65			0.62
NPA ratio (5)	0.69			0.66

See Notes to the Annual and Quarterly Key Statistics.

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)December 31, 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.

Huntington Bancshares Incorporated

Consolidated Balance Sheets


	December 31,		December 31,
(dollar amounts in millions)	2020		2019		Percent Changes
	(Unaudited)
Assets
Cash and due from banks	$	1,319	$	1,045	26	%
Interest-bearing deposits in Federal Reserve Bank	5,276		125		4,121
Interest-bearing deposits in banks	117		102		15
Trading account securities	62		99		(37)
Available-for-sale securities	16,485		14,149		17
Held-to-maturity securities	8,861		9,070		(2)


Other securities	418		441		(5)
Loans held for sale	1,275		877		45
Loans and leases (1)	81,608		75,404		8
Allowance for loan and lease losses	(1,814)		(783)		(132)
Net loans and leases	79,794		74,621		7
Bank owned life insurance	2,577		2,542		1
Premises and equipment	757		763		(1)
Goodwill	1,990		1,990		—
Service rights and other intangible assets	428		475		(10)
Other assets	3,679		2,703		36
Total assets	$	123,038	$	109,002	13	%

Liabilities and shareholders’ equity
Liabilities
Deposits (2)	$	98,948	$	82,347	20	%
Short-term borrowings	183		2,606		(93)
Long-term debt	8,352		9,849		(15)
Other liabilities	2,562		2,405		7
Total liabilities	110,045		97,207		13

Shareholders' equity
Preferred stock	2,191		1,203		82
Common stock	10		10		—
Capital surplus	8,781		8,806		—
Less treasury shares, at cost	(59)		(56)		(5)
Accumulated other comprehensive gain (loss)	192		(256)		175
Retained earnings (deficit)	1,878		2,088		(10)
Total shareholders’ equity	12,993		11,795		10
Total liabilities and shareholders’ equity	$	123,038	$	109,002	13	%

Common shares authorized (par value of $0.01)	1,500,000,000		1,500,000,000
Common shares outstanding	1,017,196,776		1,020,003,482
Treasury shares outstanding	5,062,054		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.

Huntington Bancshares Incorporated

Loans and Leases Composition

(Unaudited)


	December 31,				September 30,				June 30,				March 31,				December 31,
(dollar amounts in millions)	2020				2020				2020				2020				2019
Ending Balances by Type:
Total loans
Commercial:
Commercial and industrial	$	35,373	43	%	$	34,895	43	%	$	34,879	44	%	$	32,959	42	%	$	30,664	41	%
Commercial real estate:
Construction	1,035		1		1,154		1		1,200		1		1,180		2		1,123		1
Commercial	6,164		8		6,055		7		5,979		7		5,793		7		5,551		7
Commercial real estate	7,199		9		7,209		8		7,179		8		6,973		9		6,674		8
Total commercial	42,572		52		42,104		51		42,058		52		39,932		51		37,338		49
Consumer:
Automobile	12,778		16		12,925		17		12,678		16		12,907		17		12,797		17
Home equity	8,894		11		8,904		11		8,866		11		9,010		11		9,093		12
Residential mortgage	12,141		15		12,031		15		11,621		15		11,398		15		11,376		15
RV and marine	4,190		5		4,146		5		3,843		5		3,643		5		3,563		5
Other consumer	1,033		1		1,046		1		1,073		1		1,145		1		1,237		2
Total consumer	39,036		48		39,052		49		38,081		48		38,103		49		38,066		51
Total loans and leases	$	81,608	100	%	$	81,156	100	%	$	80,139	100	%	$	78,035	100	%	$	75,404	100	%


	December 31,				September 30,				June 30,				March 31,				December 31,
(dollar amounts in millions)	2020				2020				2020				2020				2019
Ending Balances by Business Segment:
Consumer and Business Banking	$	27,230	33	%	$	27,517	34	%	$	27,173	34	%	$	21,544	28	%	$	21,716	29	%
Commercial Banking	27,374		34		26,847		33		26,916		34		29,421		38		27,050		36
Vehicle Finance	20,027		25		19,891		25		19,345		24		20,552		26		20,190		27
RBHPCG	6,809		8		6,682		8		6,576		8		6,457		8		6,366		8
Treasury / Other	168		—		219		—		129		—		61		—		82		—
Total loans and leases	$	81,608	100	%	$	81,156	100	%	$	80,139	100	%	$	78,035	100	%	$	75,404	100	%

Average Balances by Business Segment:
Consumer and Business Banking	$	27,483	34	%	$	27,315	34	%	$	25,379	32	%	$	21,593	29	%	$	21,845	30	%
Commercial Banking	26,727		33		26,809		34		28,173		35		27,238		36		26,993		36
Vehicle Finance	19,977		25		19,651		24		19,822		25		20,307		27		19,852		26
RBHPCG	6,751		8		6,630		8		6,498		8		6,415		8		6,314		8
Treasury / Other	178		—		137		—		327		—		143		—		99		—
Total loans and leases	$	81,116	100	%	$	80,542	100	%	$	80,199	100	%	$	75,696	100	%	$	75,103	100	%

Huntington Bancshares Incorporated

Deposits Composition

(Unaudited)


	December 31,				September 30,				June 30,				March 31,				December 31,
(dollar amounts in millions)	2020				2020				2020				2020				2019
Ending Balances by Type:
Demand deposits - noninterest-bearing	$	28,553	29	%	$	27,466	29	%	$	27,574	29	%	$	21,039	24	%	$	20,247	25	%
Demand deposits - interest-bearing	26,757		27		24,242		25		22,961		25		23,115		27		20,583		25
Money market deposits	26,248		27		26,230		28		25,312		27		25,068		29		24,726		30
Savings and other domestic deposits	11,722		12		11,268		12		11,034		12		9,845		11		9,549		12
Core certificates of deposit (1)	1,425		1		1,586		2		2,478		3		3,599		4		4,356		5
Total core deposits	94,705		96		90,792		96		89,359		96		82,666		95		79,461		97
Other domestic deposits of $250,000 or more	131		—		156		—		209		—		276		—		313		—
Brokered deposits and negotiable CDs	4,112		4		4,206		4		4,123		4		3,888		5		2,573		3

Total deposits	$	98,948	100	%	$	95,154	100	%	$	93,691	100	%	$	86,830	100	%	$	82,347	100	%
Total core deposits:
Commercial	$	44,698	47	%	$	43,018	47	%	$	41,630	47	%	$	38,064	46	%	$	34,957	44	%
Consumer	50,007		53		47,774		53		47,729		53		44,602		54		44,504		56
Total core deposits	$	94,705	100	%	$	90,792	100	%	$	89,359	100	%	$	82,666	100	%	$	79,461	100	%
Ending Balances by Business Segment:
Consumer and Business Banking	$	60,910	61	%	$	59,302	62	%	$	59,202	63	%	$	51,898	60	%	$	51,675	63	%
Commercial Banking	24,766		25		23,599		25		22,041		24		23,530		27		20,762		25
Vehicle Finance	722		1		777		1		824		1		525		1		376		—
RBHPCG	7,635		8		6,623		7		6,834		7		6,265		7		6,370		8
Treasury / Other (2)	4,915		5		4,853		5		4,790		5		4,612		5		3,164		4
Total deposits	$	98,948	100	%	$	95,154	100	%	$	93,691	100	%	$	86,830	100	%	$	82,347	100	%


	December 31,				September 30,				June 30,				March 31,				December 31,
(dollar amounts in millions)	2020				2020				2020				2020				2019
Average Balances by Business Segment:
Consumer and Business Banking	$	60,163	62	%	$	59,460	63	%	$	56,858	61	%	$	51,296	62	%	$	52,059	63	%
Commercial Banking	24,051		25		23,285		24		24,414		26		21,525		26		20,974		25
Vehicle Finance	760		1		839		1		646		1		366		—		347		—
RBHPCG	6,850		7		6,605		7		6,565		7		6,100		7		6,113		7
Treasury / Other (2)	4,740		5		4,860		5		4,739		5		3,446		5		3,099		5
Total deposits	$	96,564	100	%	$	95,049	100	%	$	93,222	100	%	$	82,733	100	%	$	82,592	100	%

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

(2)Comprised primarily of national market deposits.

Huntington Bancshares Incorporated

Consolidated Quarterly Average Balance Sheets

(Unaudited)


	Quarterly Average Balances (1)
	December 31,		September 30,		June 30,		March 31,		December 31,		Percent Changes vs.
(dollar amounts in millions)	2020		2020		2020		2020		2019		3Q20		4Q19
Assets
Interest-bearing deposits in Federal Reserve Bank	$	5,507	$	5,857	$	3,413	$	680	$	672	(6)	%	719	%
Interest-bearing deposits in banks	205		177		169		150		176		16		16
Securities:
Trading account securities	53		49		39		95		109		8		(51)
Available-for-sale securities:
Taxable	12,048		10,670		11,179		11,671		11,221		13		7
Tax-exempt	2,710		2,749		2,728		2,753		2,791		(1)		(3)
Total available-for-sale securities	14,758		13,419		13,907		14,424		14,012		10		5


Held-to-maturity securities - taxable	8,844		8,932		9,798		9,428		8,592		(1)		3





Other securities	420		430		474		445		448		(2)		(6)
Total securities	24,075		22,830		24,218		24,392		23,161		5		4
Loans held for sale	1,319		1,259		1,039		865		950		5		39
Loans and leases: (2)
Commercial:
Commercial and industrial	34,850		34,669		35,284		30,849		30,373		1		15
Commercial real estate:
Construction	1,085		1,175		1,201		1,165		1,181		(8)		(8)
Commercial	6,092		6,045		5,885		5,566		5,625		1		8
Commercial real estate	7,177		7,220		7,086		6,731		6,806		(1)		5
Total commercial	42,027		41,889		42,370		37,580		37,179		—		13
Consumer:
Automobile	12,857		12,889		12,681		12,924		12,607		—		2
Home equity	8,919		8,878		8,897		9,026		9,192		—		(3)
Residential mortgage	12,100		11,817		11,463		11,391		11,330		2		7
RV and marine	4,181		4,020		3,706		3,590		3,564		4		17
Other consumer	1,032		1,049		1,082		1,185		1,231		(2)		(16)
Total consumer	39,089		38,653		37,829		38,116		37,924		1		3
Total loans and leases	81,116		80,542		80,199		75,696		75,103		1		8
Allowance for loan and lease losses	(1,804)		(1,720)		(1,557)		(1,239)		(787)		(5)		(129)
Net loans and leases	79,312		78,822		78,642		74,457		74,316		1		7
Total earning assets	112,222		110,665		109,038		101,783		100,062		1		12
Cash and due from banks	1,113		1,173		1,299		914		864		(5)		29
Intangible assets	2,185		2,195		2,206		2,217		2,228		—		(2)
All other assets	7,279		7,216		7,205		6,472		6,346		1		15
Total assets	$	120,995	$	119,529	$	118,191	$	110,147	$	108,713	1	%	11	%
Liabilities and shareholders’ equity
Interest-bearing deposits:
Demand deposits - interest-bearing	$	25,094	$	23,865	$	23,878	$	21,202	$	20,140	5	%	25	%
Money market deposits	26,144		26,200		25,728		24,697		24,560		—		6
Savings and other domestic deposits	11,468		11,157		10,609		9,632		9,552		3		20
Core certificates of deposit (3)	1,479		2,035		3,003		3,943		4,795		(27)		(69)

Other domestic deposits of $250,000 or more	139		175		230		321		313		(21)		(56)
Brokered deposits and negotiable CDs	4,100		4,182		4,114		2,884		2,589		(2)		58

Total interest-bearing deposits	68,424		67,614		67,562		62,679		61,949		1		10
Short-term borrowings	239		162		826		3,383		1,965		48		(88)
Long-term debt	8,799		9,318		9,802		10,076		9,886		(6)		(11)
Total interest-bearing liabilities	77,462		77,094		78,190		76,138		73,800		—		5
Demand deposits - noninterest-bearing	28,140		27,435		25,660		20,054		20,643		3		36
All other liabilities	2,452		2,322		2,396		2,319		2,386		6		3
Shareholders’ equity	12,941		12,678		11,945		11,636		11,884		2		9
Total liabilities and shareholders’ equity	$	120,995	$	119,529	$	118,191	$	110,147	$	108,713	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.

Huntington Bancshares Incorporated

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

(Unaudited)


	Quarterly Interest Income / Expense
	December 31,		September 30,		June 30,		March 31,		December 31,
(dollar amounts in millions)	2020		2020		2020		2020		2019
Assets
Interest-bearing deposits in Federal Reserve Bank	$	2	$	1	$	1	$	2	$	3
Interest-bearing deposits in banks	—		—		—		1		1
Securities:
Trading account securities	1		—		—		1		1
Available-for-sale securities:
Taxable	46		50		65		76		73
Tax-exempt	17		18		19		23		24
Total available-for-sale securities	63		68		84		99		97
Held-to-maturity securities - taxable	47		52		58		59		54



Other securities	2		1		1		2		3
Total securities	113		121		143		161		155
Loans held for sale	9		9		9		7		8
Loans and leases:
Commercial:
Commercial and industrial	324		325		323		318		335
Commercial real estate:
Construction	9		10		11		14		15
Commercial	41		41		43		56		63
Commercial real estate	50		51		54		70		78
Total commercial	374		376		377		388		413
Consumer:
Automobile	125		128		121		130		131
Home equity	85		84		82		107		117
Residential mortgage	99		101		101		105		105
RV and marine	47		47		43		44		45
Other consumer	29		30		30		36		39
Total consumer	385		390		377		422		437
Total loans and leases	759		766		754		810		850
Total earning assets	$	883	$	897	$	907	$	981	$	1,017

Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	$	2	$	3	$	4	$	23	$	32
Money market deposits	7		18		25		50		61
Savings and other domestic deposits	1		2		3		4		5
Core certificates of deposit (3)	2		6		11		19		25

Other domestic deposits of $250,000 or more	1		—		1		1		3
Brokered deposits and negotiable CDs	2		2		3		8		10

Total interest-bearing deposits	15		31		47		105		136
Short-term borrowings	—		—		1		12		8
Long-term debt	38		44		62		68		87
Total interest bearing liabilities	53		75		110		185		231
Net interest income	$	830	$	822	$	797	$	796	$	786

(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
	December 31,		September 30,		June 30,		March 31,		December 31,
Fully-taxable equivalent basis (1)	2020		2020		2020		2020		2019
Assets
Interest-bearing deposits in Federal Reserve Bank	0.10	%	0.10	%	0.10	%	1.08	%	1.66	%
Interest-bearing deposits in banks	0.12		0.13		0.33		1.52		1.81
Securities:
Trading account securities	3.65		3.18		1.99		3.21		2.45
Available-for-sale securities:
Taxable	1.53		1.89		2.30		2.62		2.63
Tax-exempt	2.59		2.71		2.75		3.30		3.43
Total available-for-sale securities	1.72		2.06		2.39		2.75		2.79
Held-to-maturity securities - taxable	2.11		2.28		2.39		2.50		2.50



Other securities	1.85		1.23		0.57		2.07		2.57
Total securities	1.87		2.13		2.35		2.64		2.68
Loans held for sale	2.96		2.82		3.22		3.39		3.40
Loans and leases: (3)
Commercial:
Commercial and industrial	3.64		3.67		3.62		4.12		4.31
Commercial real estate:
Construction	3.36		3.40		3.66		4.75		5.07
Commercial	2.62		2.63		2.94		4.00		4.36
Commercial real estate	2.73		2.75		3.06		4.13		4.48
Total commercial	3.48		3.52		3.53		4.12		4.34
Consumer:
Automobile	3.88		3.93		3.84		4.05		4.15
Home equity	3.76		3.79		3.73		4.75		5.03
Residential mortgage	3.27		3.41		3.51		3.70		3.73
RV and marine	4.53		4.60		4.71		4.91		4.96
Other consumer	11.12		11.23		11.10		12.39		12.71
Total consumer	3.93		4.00		4.00		4.45		4.59
Total loans and leases	3.70		3.75		3.75		4.29		4.47
Total earning assets	3.13		3.22		3.35		3.88		4.03
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	0.04		0.05		0.07		0.43		0.63
Money market deposits	0.10		0.28		0.40		0.81		0.99
Savings and other domestic deposits	0.05		0.06		0.10		0.17		0.20
Core certificates of deposit (4)	0.56		1.03		1.55		1.91		2.09

Other domestic deposits of $250,000 or more	0.51		0.92		1.25		1.56		1.70
Brokered deposits and negotiable CDs	0.19		0.19		0.18		1.22		1.67

Total interest-bearing deposits	0.08		0.18		0.28		0.68		0.87
Short-term borrowings	0.26		0.30		0.47		1.46		1.66
Long-term debt	1.72		1.87		2.58		2.70		3.50
Total interest-bearing liabilities	0.27		0.39		0.57		0.98		1.24

Net interest rate spread	2.86		2.83		2.78		2.90		2.79
Impact of noninterest-bearing funds on margin	0.08		0.13		0.16		0.24		0.33
Net interest margin	2.94	%	2.96	%	2.94	%	3.14	%	3.12	%


Commercial Loan Derivative Impact
(Unaudited)
	Average Rates
	2020		2020		2020		2020		2019
Fully-taxable equivalent basis (1)	Fourth		Third		Second		First		Fourth
Commercial loans (2)(3)	2.92	%	3.01	%	3.17	%	4.08	%	4.36	%
Impact of commercial loan derivatives	0.56		0.51		0.36		0.04		(0.02)
Total commercial - as reported	3.48	%	3.52	%	3.53	%	4.12	%	4.34	%
Average 1 Month LIBOR	0.15	%	0.16	%	0.36	%	1.41	%	1.79	%

(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.

Huntington Bancshares Incorporated

Selected Quarterly Income Statement Data

(Unaudited)


	Three Months Ended
(dollar amounts in millions, except per share data)	December 31,		September 30,		June 30,		March 31,		December 31,
	2020		2020		2020		2020		2019
Interest income	$	878	$	892	$	902	$	975	$	1,011
Interest expense	53		75		110		185		231
Net interest income	825		817		792		790		780
Provision for credit losses	103		177		327		441		79
Net interest income after provision for credit losses	722		640		465		349		701
Mortgage banking income	90		122		96		58		58
Service charges on deposit accounts	78		76		60		87		95
Card and payment processing income	65		66		59		58		64
Trust and investment management services	49		48		45		47		47
Capital markets fees	34		27		31		33		31
Insurance income	25		24		25		23		24
Bank owned life insurance income	14		17		17		16		17
Gain on sale of loans	13		13		8		8		16
Net (losses) gains on sales of securities	—		—		(1)		—		(22)
Other noninterest income	41		37		51		31		42
Total noninterest income	409		430		391		361		372
Personnel costs	426		453		418		395		426
Outside data processing and other services	111		98		90		85		89
Equipment	49		44		46		41		42
Net occupancy	39		40		39		40		41
Professional services	21		12		11		11		14
Amortization of intangibles	10		10		10		11		12
Marketing	15		9		5		9		9
Deposit and other insurance expense	8		6		9		9		10
Other noninterest expense	77		40		47		51		58
Total noninterest expense	756		712		675		652		701
Income before income taxes	375		358		181		58		372
Provision for income taxes	59		55		31		10		55
Net income	316		303		150		48		317
Dividends on preferred shares	35		28		19		18		19
Net income applicable to common shares	$	281	$	275	$	131	$	30	$	298

Average common shares - basic	1,017		1,017		1,016		1,018		1,029
Average common shares - diluted	1,036		1,031		1,029		1,035		1,047

Per common share
Net income - basic	$	0.28	$	0.27	$	0.13	$	0.03	$	0.29
Net income - diluted	0.27		0.27		0.13		0.03		0.28
Cash dividends declared	0.15		0.15		0.15		0.15		0.15

Revenue - fully-taxable equivalent (FTE)
Net interest income	$	825	$	817	$	792	$	790	$	780
FTE adjustment	5		5		5		6		6
Net interest income (1)	830		822		797		796		786
Noninterest income	409		430		391		361		372
Total revenue (1)	$	1,239	$	1,252	$	1,188	$	1,157	$	1,158

(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
	December 31,			September 30,			June 30,			March 31,			December 31,			Percent Changes vs.
(dollar amounts in millions)	2020			2020			2020			2020			2019			3Q20		4Q19
Net origination and secondary marketing income	$	92		$	118		$	91		$	45		$	43		(22)	%	114	%
Net mortgage servicing income
Loan servicing income	16			15			14			16			15			7		7
Amortization of capitalized servicing	(17)			(15)			(12)			(9)			(13)			(13)		(31)
Operating income	(1)			—			2			7			2			(100)		(150)
MSR valuation adjustment (1)	4			3			(6)			(53)			25			33		(84)
Gains (losses) due to MSR hedging	(9)			(1)			6			57			(14)			(800)		36
Net MSR risk management	(5)			2			—			4			11			(350)		(145)
Total net mortgage servicing income	$	(6)		$	2		$	2		$	11		$	13		(400)	%	(146)	%
All other	4			2			3			2			2			100		100
Mortgage banking income	$	90		$	122		$	96		$	58		$	58		(26)	%	55	%

Mortgage origination volume	$	3,741		$	3,811		$	3,802		$	2,136		$	2,490		(2)	%	50	%
Mortgage origination volume for sale	2,444			2,568			2,421			1,409			1,518			(5)		61

Third party mortgage loans serviced (2)	23,471			23,334			23,184			22,775			22,425			1		5
Mortgage servicing rights (2)	210			191			172			165			212			10		(1)
MSR % of investor servicing portfolio (2)	0.89		%	0.82		%	0.74		%	0.72		%	0.95		%	9	%	(6)	%

(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
	December 31,			September 30,			June 30,			March 31,			December 31,
(dollar amounts in millions)	2020			2020			2020			2020			2019
Allowance for loan and lease losses, beginning of period	$	1,796		$	1,702		$	1,504		$	783		$	783
Cumulative-effect of change in accounting principle for financial instruments - credit losses (ASU 2016-13)	—			—			—			391			—
Loan and lease losses	(140)			(141)			(123)			(136)			(93)
Recoveries of loans previously charged off	28			28			16			19			20
Net loan and lease losses	(112)			(113)			(107)			(117)			(73)
Provision for loan and lease losses	130			207			305			447			74
Allowance of assets sold or transferred to loans held for sale	—			—			—			—			(1)
Allowance for loan and lease losses, end of period	1,814			1,796			1,702			1,504			783
Allowance for unfunded loan commitments and letters of credit, beginning of period	82			119			99			104			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	(27)			(30)			22			(6)			5
Unfunded commitment losses	(3)			(7)			(2)			(1)			(2)
Allowance for unfunded loan commitments and letters of credit, end of period	52			82			119			99			104
Total allowance for credit losses, end of period	$	1,866		$	1,878		$	1,821		$	1,603		$	887
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases	2.22		%	2.21		%	2.12		%	1.93		%	1.04		%
Nonaccrual loans and leases (NALs)	341			316			263			270			167
Nonperforming assets (NPAs)	323			298			239			257			157
Total allowance for credit losses (ACL) as % of:
Total loans and leases	2.29		%	2.31		%	2.27		%	2.05		%	1.18		%
Nonaccrual loans and leases (NALs)	351			330			281			287			190
Nonperforming assets (NPAs)	331			311			255			273			178

Huntington Bancshares Incorporated

Quarterly Net Charge-Off Analysis

(Unaudited)


	Three Months Ended
	December 31,			September 30,			June 30,			March 31,			December 31,
(dollar amounts in millions)	2020			2020			2020			2020			2019
Net charge-offs by loan and lease type:
Commercial:
Commercial and industrial	$	58		$	77		$	80		$	84		$	36
Commercial real estate:
Construction	—			(1)			1			—			—
Commercial	32			13			(1)			(1)			—
Commercial real estate	32			12			—			(1)			—
Total commercial	90			89			80			83			36
Consumer:
Automobile	6			10			10			7			9
Home equity	1			—			—			5			1
Residential mortgage	1			1			—			1			1
RV and marine	2			4			4			2			4
Other consumer	12			9			13			19			22
Total consumer	22			24			27			34			37
Total net charge-offs	$	112		$	113		$	107		$	117		$	73


	Three Months Ended
	December 31,			September 30,			June 30,			March 31,			December 31,
	2020			2020			2020			2020			2019
Net charge-offs - annualized percentages:
Commercial:
Commercial and industrial	0.67		%	0.90		%	0.90		%	1.09		%	0.47		%
Commercial real estate:
Construction	(0.04)			(0.25)			(0.01)			0.08			(0.03)
Commercial	2.14			0.80			(0.03)			(0.06)			0.01
Commercial real estate	1.81			0.63			(0.03)			(0.03)			—
Total commercial	0.86			0.85			0.75			0.89			0.38
Consumer:
Automobile	0.21			0.31			0.31			0.22			0.30
Home equity	0.01			(0.02)			0.08			0.19			0.02
Residential mortgage	0.05			0.03			0.02			0.02			0.04
RV and marine	0.21			0.38			0.37			0.27			0.39
Other consumer	4.35			3.55			4.80			6.45			7.26
Total consumer	0.22			0.24			0.30			0.35			0.39
Net charge-offs as a % of average loans	0.55		%	0.56		%	0.54		%	0.62		%	0.39		%

Huntington Bancshares Incorporated

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

(Unaudited)


	December 31,			September 30,			June 30,			March 31,			December 31,
(dollar amounts in millions)	2020			2020			2020			2020			2019
Nonaccrual loans and leases (NALs):
Commercial and industrial	$	353		$	388		$	485		$	396		$	323
Commercial real estate	15			16			28			30			10
Automobile	4			5			8			6			4
Home equity	70			71			59			58			59
Residential mortgage	88			88			66			66			71
RV and marine	2			1			2			2			1
Other consumer	—			—			—			—			—
Total nonaccrual loans and leases	532			569			648			558			468

Other real estate, net:
Residential	4			4			5			8			9
Commercial	—			1			2			2			2
Total other real estate, net	4			5			7			10			11
Other NPAs (2)	27			28			58			18			19
Total nonperforming assets	$	563		$	602		$	713		$	586		$	498

Nonaccrual loans and leases as a % of total loans and leases	0.65		%	0.70		%	0.81		%	0.72		%	0.62		%
NPA ratio (3)	0.69			0.74			0.89			0.75			0.66
(NPA+90days)/(Loan+OREO) (4)	0.90			0.96			1.13			0.96			0.89


	Three Months Ended
	December 31,		September 30,		June 30,		March 31,		December 31,
(dollar amounts in millions)	2020		2020		2020		2020		2019
Nonperforming assets, beginning of period	$	602	$	713	$	586	$	498	$	482
New nonperforming assets	248		190		279		274		175
Returns to accruing status	(108)		(47)		(25)		(18)		(20)
Loan and lease losses	(73)		(102)		(61)		(91)		(48)
Payments	(82)		(77)		(63)		(70)		(63)
Sales	(24)		(75)		(3)		(7)		(28)

Nonperforming assets, end of period	$	563	$	602	$	713	$	586	$	498

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

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

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

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

Huntington Bancshares Incorporated

Quarterly Accruing Past Due Loans and Leases and Accruing and Nonaccruing Troubled Debt Restructured Loans

(Unaudited)


	December 31,			September 30,			June 30,			March 31,			December 31,
(dollar amounts in millions)	2020			2020			2020			2020			2019
Accruing loans and leases past due 90+ days:
Commercial and industrial	$	10		$	10		$	13		$	10		$	11
Commercial real estate	—			—			—			—			—
Automobile	9			8			8			8			8
Home equity	14			11			10			12			14
Residential mortgage (excluding loans guaranteed by the U.S. Government)	30			18			17			21			20
RV and marine	3			2			2			2			2
Other consumer	3			2			3			4			7
Total, excl. loans guaranteed by the U.S. Government	69			51			53			57			62
Add: loans guaranteed by U.S. Government	102			124			141			110			109
Total accruing loans and leases past due 90+ days, including loans guaranteed by the U.S. Government	$	171		$	175		$	194		$	167		$	171

Ratios:
Excluding loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.08		%	0.06		%	0.07		%	0.07		%	0.08		%
Guaranteed by U.S. Government, as a percent of total loans and leases	0.13			0.15			0.18			0.14			0.14
Including loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.21			0.22			0.24			0.21			0.23

Accruing troubled debt restructured loans:
Commercial and industrial	$	193		$	189		$	192		$	219		$	213
Commercial real estate	33			34			35			37			37
Automobile	50			53			52			42			40
Home equity	187			199			209			219			226
Residential mortgage	248			256			229			227			223
RV and marine	6			6			6			3			3
Other consumer	9			10			10			11			11
Total accruing troubled debt restructured loans	$	726		$	747		$	733		$	758		$	753

Nonaccruing troubled debt restructured loans:
Commercial and industrial	$	95		$	146		$	169		$	119		$	109
Commercial real estate	3			3			3			4			6
Automobile	2			2			2			2			2
Home equity	30			29			26			25			26
Residential mortgage	51			48			43			42			42
RV and marine	1			1			1			2			1
Other consumer	—			—			—			—			—
Total nonaccruing troubled debt restructured loans	$	182		$	229		$	244		$	194		$	186

Huntington Bancshares Incorporated

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

(Unaudited)


	December 31,			September 30,			June 30,			March 31,			December 31,
(dollar amounts in millions)	2020			2020			2020			2020			2019
Common equity tier 1 risk-based capital ratio: (1)
Total shareholders’ equity	$	12,992		$	12,917		$	12,314		$	11,769		$	11,795
Regulatory capital adjustments:
CECL transitional amount (2)	453			456			442			386			—
Shareholders’ preferred equity	(2,196)			(2,195)			(1,701)			(1,207)			(1,207)
Accumulated other comprehensive income offset	(192)			(257)			(290)			(227)			256
Goodwill and other intangibles, net of related taxes	(2,107)			(2,118)			(2,129)			(2,141)			(2,153)
Deferred tax assets that arise from tax loss and credit carryforwards	(63)			(59)			(40)			(42)			(44)
Common equity tier 1 capital	8,887			8,744			8,596			8,538			8,647
Additional tier 1 capital
Shareholders’ preferred equity	2,196			2,195			1,701			1,207			1,207

Other	—			—			—			1			—
Tier 1 capital	11,083			10,939			10,297			9,746			9,854
Long-term debt and other tier 2 qualifying instruments	660			677			697			619			672
Qualifying allowance for loan and lease losses	1,113			1,107			1,093			1,127			887
Tier 2 capital	1,773			1,784			1,790			1,746			1,559
Total risk-based capital	$	12,856		$	12,723		$	12,087		$	11,492		$	11,413
Risk-weighted assets (RWA)(1)	$	88,878		$	88,417		$	87,323		$	90,193		$	87,512
Common equity tier 1 risk-based capital ratio (1)	10.00		%	9.89		%	9.84		%	9.47		%	9.88		%
Other regulatory capital data:
Tier 1 leverage ratio (1)	9.32			9.31			8.86			9.01			9.26
Tier 1 risk-based capital ratio (1)	12.47			12.37			11.79			10.81			11.26
Total risk-based capital ratio (1)	14.46			14.39			13.84			12.74			13.04
Non-regulatory capital data:
Tangible common equity / RWA ratio (1)	9.74			9.70			9.69			9.32			9.62

(1)December 31, 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 December 31, 2020.

Huntington Bancshares Incorporated

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

(Unaudited)

Quarterly common stock summary


	December 31,		September 30,		June 30,		March 31,		December 31,
	2020		2020		2020		2020		2019





Dividends, per share
Cash dividends declared per common share	$	0.15	$	0.15	$	0.15	$	0.15	$	0.15
Common shares outstanding (in millions)
Average - basic	1,017		1,017		1,016		1,018		1,029
Average - diluted	1,036		1,031		1,029		1,035		1,047
Ending	1,017		1,017		1,017		1,014		1,020
Tangible book value per common share (1)	$	8.51	$	8.43	$	8.32	$	8.28	$	8.25
Common share repurchases (in millions)
Number of shares repurchased	—		—		—		7		13

Non-regulatory capital


	December 31,			September 30,			June 30,			March 31,			December 31,
(dollar amounts in millions)	2020			2020			2020			2020			2019
Calculation of tangible equity / asset ratio:
Total shareholders’ equity	$	12,992		$	12,917		$	12,314		$	11,769		$	11,795
Less: goodwill	(1,990)			(1,990)			(1,990)			(1,990)			(1,990)
Less: other intangible assets	(191)			(201)			(211)			(222)			(232)
Add: related deferred tax liability (1)	40			42			44			47			49
Total tangible equity	10,851			10,768			10,157			9,604			9,622
Less: preferred equity	(2,192)			(2,192)			(1,697)			(1,203)			(1,203)
Total tangible common equity	$	8,659		$	8,576		$	8,460		$	8,401		$	8,419
Total assets	$	123,038		$	120,116		$	118,425		$	113,897		$	109,002
Less: goodwill	(1,990)			(1,990)			(1,990)			(1,990)			(1,990)
Less: other intangible assets	(191)			(201)			(211)			(222)			(232)
Add: related deferred tax liability (1)	40			42			44			47			49
Total tangible assets	$	120,897		$	117,967		$	116,268		$	111,732		$	106,829
Tangible equity / tangible asset ratio	8.98		%	9.13		%	8.74		%	8.60		%	9.01		%
Tangible common equity / tangible asset ratio	7.16			7.27			7.28			7.52			7.88
Other data:
Number of employees (Average full-time equivalent)	15,477			15,680			15,703			15,386			15,495
Number of domestic full-service branches (2)	839			839			839			839			868
ATM Count	1,322			1,330			1,344			1,434			1,448

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

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

Huntington Bancshares Incorporated

Consolidated Annual Average Balance Sheets

(Unaudited)


	Annual Average Balances (1)
			Change from 2019						Change from 2018
(dollar amounts in millions)	2020		Amount		Percent		2019		Amount		Percent		2018
Assets
Interest-bearing deposits in Federal Reserve Bank (2)	$	3,874	$	3,322	602	%	$	552	$	430	352	%	$	122
Interest-bearing deposits in banks	176		34		24		142		54		61		88
Securities:
Trading account securities	59		(77)		(57)		136		40		42		96
Available-for-sale securities:
Taxable	11,392		498		5		10,894		194		2		10,700
Tax-exempt	2,735		(172)		(6)		2,907		(556)		(16)		3,463
Total available-for-sale securities	14,127		326		2		13,801		(362)		(3)		14,163


Held-to-maturity securities - taxable	9,248		603		7		8,645		2		—		8,643


Other securities	443		(28)		(6)		471		(113)		(19)		584
Total securities	23,877		824		4		23,053		(433)		(2)		23,486
Loans held for sale	1,121		305		37		816		181		29		635
Loans and leases:(3)
Commercial:
Commercial and industrial	33,917		3,368		11		30,549		1,662		6		28,887
Commercial real estate:
Construction	1,156		(15)		(1)		1,171		25		2		1,146
Commercial	5,898		196		3		5,702		(347)		(6)		6,049
Commercial real estate	7,054		181		3		6,873		(322)		(4)		7,195
Total commercial	40,971		3,549		9		37,422		1,340		4		36,082
Consumer:
Automobile	12,838		495		4		12,343		51		—		12,292
Home equity	8,930		(486)		(5)		9,416		(499)		(5)		9,915
Residential mortgage	11,694		607		5		11,087		1,180		12		9,907
RV and marine	3,876		425		12		3,451		604		21		2,847
Other consumer	1,086		(173)		(14)		1,259		56		5		1,203
Total consumer	38,424		868		2		37,556		1,392		4		36,164
Total loans and leases	79,395		4,417		6		74,978		2,732		4		72,246
Allowance for loan and lease losses	(1,581)		(795)		(101)		(786)		(39)		(5)		(747)
Net loans and leases	77,814		3,622		5		74,192		2,693		4		71,499
Total earning assets	108,443		8,902		9		99,541		2,964		3		96,577
Cash and due from banks	1,124		282		33		842		(342)		(29)		1,184
Intangible assets	2,201		(45)		(2)		2,246		(65)		(3)		2,311
All other assets	7,045		917		15		6,128		471		8		5,657
Total assets	$	117,232	$	9,261	9	%	$	107,971	$	2,989	3	%	$	104,982
Liabilities and shareholders’ equity
Interest-bearing deposits:
Demand deposits - interest-bearing	$	23,514	$	3,656	18	%	$	19,858	$	563	3	%	$	19,295
Money market deposits	25,695		1,923		8		23,772		2,326		11		21,446
Savings and other domestic deposits	10,720		804		8		9,916		(1,167)		(11)		11,083
Core certificates of deposit (4)	2,610		(2,980)		(53)		5,590		1,402		33		4,188

Other domestic deposits of $250,000 or more	216		(103)		(32)		319		39		14		280
Brokered deposits and negotiable CDs	3,822		1,006		36		2,816		(687)		(20)		3,503

Total interest-bearing deposits	66,577		4,306		7		62,271		2,476		4		59,795
Short-term borrowings	1,147		(1,297)		(53)		2,444		(304)		(11)		2,748
Long-term debt	9,496		164		2		9,332		340		4		8,992
Total interest-bearing liabilities	77,220		3,173		4		74,047		2,512		4		71,535
Demand deposits - noninterest-bearing	25,336		5,275		26		20,061		(330)		(2)		20,391
All other liabilities	2,373		70		3		2,303		306		15		1,997
Shareholders’ equity	12,303		743		6		11,560		501		5		11,059
Total liabilities and shareholders’ equity	$	117,232	$	9,261	9	%	$	107,971	$	2,989	3	%	$	104,982

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

(2)Deposits in Federal Reserve Bank were treated as non-earning assets prior to 4Q 2018.

(3)Includes nonaccrual loans.

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

Huntington Bancshares Incorporated

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

(Unaudited)


	Annual Interest Income / Expense
(dollar amounts in millions)	2020		2019		2018
Assets
Interest-bearing deposits in Federal Reserve Bank (3)	$	6	$	12	$	3
Interest-bearing deposits in banks	1		3		2
Securities:
Trading account securities	2		3		1
Available-for-sale securities:
Taxable	237		295		280
Tax-exempt	77		105		122
Total available-for-sale securities	314		400		402
Held-to-maturity securities - taxable	216		218		211
Other securities	6		16		25
Total securities	538		637		639
Loans held for sale	34		31		26
Loans and leases:
Commercial:
Commercial and industrial	1,290		1,441		1,337
Commercial real estate:
Construction	44		64		60
Commercial	181		273		283
Commercial real estate	225		337		343
Total commercial	1,515		1,778		1,680
Consumer:
Automobile	504		500		456
Home equity	358		508		512
Residential mortgage	406		422		371
RV and marine	181		171		145
Other consumer	125		165		145
Total consumer	1,574		1,766		1,629
Total loans and leases	3,089		3,544		3,309
Total earning assets	$	3,668	$	4,227	$	3,979
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	$	32	$	116	$	78
Money market deposits	100		260		148
Savings and other domestic deposits	10		22		24
Core certificates of deposit	38		119		72

Other domestic deposits of $250,000 or more	3		7		3
Brokered deposits and negotiable CDs	15		61		66

Total interest-bearing deposits	198		585		391
Short-term borrowings	13		54		48
Long-term debt	212		349		321
Total interest-bearing liabilities	423		988		760
Net interest income	$	3,245	$	3,239	$	3,219

(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)Deposits in Federal Reserve Bank were treated as non-earning assets prior to 4Q 2018 and associated interest income was not material.

Huntington Bancshares Incorporated

Consolidated Annual Net Interest Margin - Yield

(Unaudited)


	Annual Average Rates(2)
Fully-taxable equivalent basis(1)	2020		2019		2018
Assets
Interest-bearing deposits in Federal Reserve Bank (2)	0.15	%	2.12	%	2.33	%
Interest-bearing deposits in banks	0.47		2.01		1.97
Securities:
Trading account securities	3.10		2.17		0.80
Available-for-sale securities:
Taxable	2.08		2.71		2.61
Tax-exempt	2.84		3.61		3.53
Total available-for-sale securities	2.23		2.90		2.84
Held-to-maturity securities - taxable	2.33		2.52		2.44
Other securities	1.41		3.47		4.34
Total securities	2.25		2.76		2.72
Loans held for sale	3.06		3.76		4.15
Loans and leases: (4)
Commercial:
Commercial and industrial	3.80		4.72		4.63
Commercial real estate:
Construction	3.84		5.51		5.26
Commercial	3.07		4.79		4.67
Commercial real estate	3.19		4.91		4.77
Total commercial	3.70		4.75		4.66
Consumer:
Automobile	3.93		4.05		3.71
Home equity	4.01		5.40		5.16
Residential mortgage	3.47		3.81		3.74
RV and marine	4.68		4.95		5.09
Other consumer	11.48		13.11		12.04
Total consumer	4.10		4.70		4.50
Total loans and leases	3.89		4.73		4.58
Total earning assets	3.38		4.25		4.12
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	0.14	%	0.58	%	0.40	%
Money market deposits	0.39		1.09		0.69
Savings and other domestic deposits	0.09		0.22		0.22
Core certificates of deposit (5)	1.44		2.13		1.72

Other domestic deposits of $250,000 or more	1.18		1.82		1.25
Brokered deposits and negotiable CDs	0.38		2.18		1.88

Total interest-bearing deposits	0.30		0.94		0.65
Short-term borrowings	1.18		2.23		1.74
Long-term debt	2.24		3.74		3.57
Total interest bearing liabilities	0.55		1.34		1.06
Demand deposits - noninterest-bearing	—		—		—
Net interest rate spread	2.83		2.91		3.06
Impact of noninterest-bearing funds on margin	0.16		0.35		0.27
Net interest margin	2.99	%	3.26	%	3.33	%


Commercial Loan Derivative Impact
(Unaudited)
	Annual Average Rates
Fully-taxable equivalent basis(1)	2020		2019		2018
Commercial loans (3)(4)	3.32	%	4.72	%	4.59	%
Impact of commercial loan derivatives	0.38		0.03		0.07
Total commercial - as reported	3.70	%	4.75	%	4.66	%

Average 1 Month LIBOR	0.52	%	2.22	%	2.02	%

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

(2)Deposits in Federal Reserve Bank were treated as non-earning assets prior to 4Q 2018.

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

(4)Includes the impact of nonacrrual loans.

(5)Includes consumer certificates of deposits of $250,000 or more.

Huntington Bancshares Incorporated

Selected Annual Income Statement Data

(Unaudited)


	Year Ended December 31,
(dollar amounts in millions, except per share data)			Change						Change
	2020		Amount		Percent		2019		Amount		Percent		2018
Interest income	$	3,647	$	(554)	(13)	%	$	4,201	$	252	6	%	$	3,949
Interest expense	423		(565)		(57)		988		228		30		760
Net interest income	3,224		11		—		3,213		24		1		3,189
Provision for credit losses	1,048		761		265		287		52		22		235
Net interest income after provision for credit losses	2,176		(750)		(26)		2,926		(28)		(1)		2,954
Mortgage banking income	366		199		119		167		59		55		108
Service charges on deposit accounts	301		(71)		(19)		372		8		2		364
Card and payment processing income	248		2		1		246		22		10		224
Trust and investment management services	189		11		6		178		7		4		171
Capital markets fees	125		2		2		123		15		14		108
Insurance income	97		9		10		88		6		7		82
Bank owned life insurance income	64		(2)		(3)		66		(1)		(1)		67
Gain on sale of loans	42		(13)		(24)		55		—		—		55
Net (losses) gains on sales of securities	(1)		23		96		(24)		(3)		(14)		(21)
Other noninterest income	160		(23)		(13)		183		20		12		163
Total noninterest income	1,591		137		9		1,454		133		10		1,321
Personnel costs	1,692		38		2		1,654		95		6		1,559
Outside data processing and other services	384		38		11		346		52		18		294
Equipment	180		17		(1)		163		(1)		(1)		164
Net occupancy	158		(1)		(1)		159		(25)		(14)		184
Professional services	55		1		2		54		(6)		(10)		60
Amortization of intangibles	41		(8)		(8)		49		(4)		(8)		53
Marketing	38		1		3		37		(16)		(30)		53
Deposit and other insurance expense	32		(2)		(46)		34		(29)		(46)		63
Other noninterest expense	215		(10)		(4)		225		8		4		217
Total noninterest expense	2,795		74		3		2,721		74		3		2,647
Income before income taxes	972		(687)		(41)		1,659		31		2		1,628
Provision for income taxes	155		(93)		(38)		248		13		6		235
Net income	817		(594)		(42)		1,411		18		1		1,393
Dividends on preferred shares	100		26		35		74		4		6		70
Net income applicable to common shares	$	717	$	(620)	(46)	%	$	1,337	$	14	1	%	$	1,323
Average common shares - basic	1,017		(22)		(2)	%	1,039		(43)		(4)	%	1,082
Average common shares - diluted	1,033		(23)		(2)		1,056		(50)		(5)		1,106
Per common share
Net income - basic	$	0.71	$	(0.58)	(45)		$	1.29	$	0.07	6		$	1.22
Net income - diluted	0.69		(0.58)		(46)		1.27		0.07		6		1.20
Cash dividends declared	0.60		0.02		3		0.58		0.08		16		0.50
Revenue - fully taxable equivalent (FTE)
Net interest income	$	3,224	$	11	—		$	3,213	$	24	1		$	3,189
FTE adjustment (1)	21		(5)		(19)		26		(4)		(13)		30
Net interest income	3,245		6		—		3,239		20		1		3,219
Noninterest income	1,591		137		9		1,454		133		10		1,321
Total revenue (1)	$	4,836	$	143	3	%	$	4,693	$	153	3	%	$	4,540

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

Huntington Bancshares Incorporated

Annual Mortgage Banking Income

(Unaudited)


	Year Ended December 31,
(dollar amounts in millions)	2020			2019			2018			2017			2016
Net origination and secondary marketing income	$	346		$	132		$	79		$	95		$	100
Net mortgage servicing income
Loan servicing income	61			59			56			52			46
Amortization of capitalized servicing	(53)			(45)			(33)			(29)			(28)
Operating income	8			14			23			23			18
MSR valuation adjustment (1)	(52)			(15)			7			1			1
Gains (losses) due to MSR hedging	53			29			(8)			—			(1)
Net MSR risk management	1			14			(1)			1			—
Total net mortgage servicing income	$	9		$	28		$	22		$	24		$	18
All other	11			7			7			12			10
Mortgage banking income	$	366		$	167		$	108		$	131		$	128

Mortgage origination volume	$	13,489		$	7,744		$	6,996		$	6,634		$	5,822
Mortgage origination volume for sale	8,842			4,938			4,061			3,912			3,822

Third party mortgage loans serviced (2)	23,471			22,425			21,068			19,989			18,852
Mortgage servicing rights (2)	210			212			221			202			186
MSR % of investor servicing portfolio	0.89		%	0.95		%	1.05		%	1.01		%	0.99		%

(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

Annual Credit Reserves Analysis

(Unaudited)


	Year Ended December 31,
(dollar amounts in millions)	2020			2019			2018			2017			2016
Allowance for loan and lease losses, beginning of period	$	783		$	772		$	691		$	638		$	598
Cumulative-effect of change in accounting principle for financial instruments - credit losses (ASU 2016-13)	391
Loan and lease losses	(540)			(362)			(268)			(252)			(227)
Recoveries of loans previously charged off	91			97			123			93			118
Net loan and lease losses	(449)			(265)			(145)			(159)			(109)
Provision for loan and lease losses	1,089			277			226			212			169
Allowance of assets sold or transferred to loans held for sale	—			(1)			—			—			(20)
Allowance for loan and lease losses, end of period	1,814			783			772			691			638
Allowance for unfunded loan commitments and letters of credit, beginning of period	104			96			87			98			72
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	(41)			10			9			(11)			22
Fair value of acquired AULC							—			—			4
Unfunded commitment losses	(13)			(2)
Allowance for unfunded loan commitments and letters of credit, end of period	52			106			96			87			98
Total allowance for credit losses	$	1,866		$	889		$	868		$	778		$	736
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases	2.22		%	1.04		%	1.03		%	0.99		%	0.95		%
Nonaccrual loans and leases (NALs)	341			167			228			198			151
Nonperforming assets (NPAs)	323			157			200			178			133
Total allowance for credit losses (ACL) as % of:
Total loans and leases	2.29		%	1.18		%	1.16		%	1.11		%	1.10		%
Nonaccrual loans and leases (NALs)	351			190			256			223			174
Nonperforming assets (NPAs)	331			178			225			200			153

Huntington Bancshares Incorporated

Annual Net Charge-Off Analysis

(Unaudited)


	Year Ended December 31,
(dollar amounts in millions)	2020			2019			2018			2017			2016
Net charge-offs by loan and lease type:
Commercial:
Commercial and industrial	$	299		$	128		$	32		$	42		$	45
Commercial real estate:
Construction	—			(2)			(1)			(5)			(2)
Commercial	43			(1)			(17)			(6)			(24)
Commercial real estate	43			(3)			(18)			(11)			(26)
Total commercial	342			125			14			31			19
Consumer:
Automobile	33			32			34			42			32
Home equity	6			8			6			5			9
Residential mortgage	3			6			6			6			6
RV and marine	12			11			9			10			2
Other consumer	53			83			76			65			41
Total consumer	107			140			131			128			90
Total net charge-offs	$	449		$	265		$	145		$	159		$	109

Net charge-offs - annualized percentages:
Commercial:
Commercial and industrial	0.88		%	0.42		%	0.11		%	0.15		%	0.19		%
Commercial real estate:
Construction	(0.05)			(0.15)			(0.13)			(0.36)			(0.19)
Commercial	0.74			(0.02)			(0.26)			(0.10)			(0.49)
Commercial real estate	0.61			(0.04)			(0.24)			(0.15)			(0.44)
Total commercial	0.84			0.33			0.04			0.09			0.06
Consumer:
Automobile	0.26			0.26			0.27			0.36			0.30
Home equity	0.07			0.08			0.06			0.05			0.10
Residential mortgage	0.03			0.06			0.06			0.08			0.09
RV and marine	0.31			0.31			0.32			0.48			0.33
Other consumer	4.84			6.62			6.27			6.36			5.53
Total consumer	0.28			0.37			0.36			0.39			0.32
Net charge-offs as a % of average loans	0.57		%	0.35		%	0.20		%	0.23		%	0.19		%

Huntington Bancshares Incorporated

Annual Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)

(Unaudited)


	December 31,
(dollar amounts in millions)	2020			2019			2018			2017			2016
Nonaccrual loans and leases (NALs):
Commercial and industrial	$	353		$	323		$	188		$	161		$	234
Commercial real estate	15			10			15			29			20
Automobile	4			4			5			6			6
Home equity	70			59			62			68			72
Residential mortgage	88			71			69			84			91
RV and marine	2			1			1			1			—
Other consumer	—			—			—			—			—
Total nonaccrual loans and leases	532			468			340			349			423

Other real estate, net:
Residential	4			9			19			24			31
Commercial	—			2			4			9			20
Total other real estate, net	4			11			23			33			51
Other NPAs (1)	27			19			24			7			7
Total nonperforming assets (3)	$	563		$	498		$	387		$	389		$	481

Nonaccrual loans and leases as a % of total loans and leases	0.65		%	0.62		%	0.45		%	0.50		%	0.63		%
NPA ratio (2)	0.69			0.66			0.52			0.55			0.72


	December 31,
(dollar amounts in millions)	2020		2019		2018		2017		2016
Nonperforming assets, beginning of period	$	498	$	387	$	389	$	481	$	399
New nonperforming assets	991		675		477		415		633
Returns to accruing status	(198)		(93)		(93)		(118)		(127)
Loan and lease losses	(327)		(194)		(114)		(95)		(135)
Payments	(292)		(188)		(245)		(252)		(210)
Sales and held-for-sale transfers	(109)		(89)		(27)		(42)		(79)

Nonperforming assets, end of period (2)	$	563	$	498	$	387	$	389	$	481

(1)Other nonperforming assets at December 31, 2019 and 2018 include certain nonaccrual loans held-for-sale. Amounts prior to December 31, 2018 includes certain impaired securities.

(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 nonperforming assets balance.

Huntington Bancshares Incorporated

Annual Accruing Past Due Loans and Leases and Accruing and Nonaccruing Troubled Debt Restructured Loans

(Unaudited)


	December 31,
(dollar amounts in millions)	2020			2019			2018			2017			2016
Accruing loans and leases past due 90+ days:
Commercial and industrial	$	10		$	11		$	7		$	9		$	18
Commercial real estate	—			—			—			3			17
Automobile	9			8			8			7			10
Home equity	14			14			17			18			12
Residential mortgage (excluding loans guaranteed by the U.S. Government)	30			20			32			21			15
RV and marine	3			2			1			1			1
Other consumer	3			7			6			5			4
Total, excl. loans guaranteed by the U.S. Government	69			62			71			64			77
Add: loans guaranteed by U.S. Government	102			109			99			51			52
Total accruing loans and leases past due 90 days or more, including loans guaranteed by the U.S. Government	$	171		$	171		$	170		$	115		$	129
Ratios:
Excluding loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.08		%	0.08		%	0.09		%	0.09		%	0.12		%
Guaranteed by U.S. Government, as a percent of total loans and leases	0.13			0.14			0.13			0.07			0.08
Including loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.21			0.23			0.23			0.16			0.19
Accruing troubled debt restructured loans:
Commercial and industrial	$	193		$	213		$	269		$	300		$	210
Commercial real estate	33			37			54			78			77
Automobile	50			40			35			30			26
Home equity	187			226			252			265			270
Residential mortgage	248			223			218			224			243
RV and marine	6			3			2			1			—
Other consumer	9			11			9			8			4
Total accruing troubled debt restructured loans	$	726		$	753		$	839		$	906		$	830
Nonaccruing troubled debt restructured loans:
Commercial and industrial	$	95		$	109		$	97		$	82		$	107
Commercial real estate	3			6			6			15			5
Automobile	2			2			3			4			5
Home equity	30			26			28			28			28
Residential mortgage	51			42			44			55			59
RV and marine	1			1			—			—			—
Other consumer	—			—			—			—			—
Total nonaccruing troubled debt restructured loans	$	182		$	186		$	178		$	184		$	204