Form: 8-K

Current report filing

January 22, 2021

Documents


Exhibit 99.2
HUNTINGTON BANCSHARES INCORPORATED
Quarterly Financial Supplement
December 31, 2020
Table of Contents
Quarterly Accruing Past Due Loans and Leases and Accruing and Nonaccruing Troubled Debt Restructured Loans


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.
1

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.

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)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.


3

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.
4

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  %

5

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.
6

Huntington Bancshares Incorporated
Consolidated Quarterly Average Balance Sheets
(Unaudited)
Quarterly Average Balances (1)
December 31, September 30, June 30, March 31, December 31, Percent Changes vs.
(dollar amounts in millions) 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.
7

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.


8

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.
9

Huntington Bancshares Incorporated
Selected Quarterly Income Statement Data
(Unaudited)
Three Months Ended
(dollar amounts in millions, except per share data) December 31, September 30, June 30, March 31, December 31,
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.

10

Huntington Bancshares Incorporated
Quarterly Mortgage Banking Noninterest Income
(Unaudited)
Three Months Ended
December 31, September 30, June 30, March 31, December 31,
Percent Changes vs.
(dollar amounts in millions)
 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.
11

Huntington Bancshares Incorporated
Quarterly Credit Reserves Analysis
(Unaudited)
Three Months Ended
December 31, September 30, June 30, March 31, December 31,
(dollar amounts in millions) 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 

12

Huntington Bancshares Incorporated
Quarterly Net Charge-Off Analysis
(Unaudited)
Three Months Ended
December 31, September 30, June 30, March 31, December 31,
(dollar amounts in millions) 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  %

13

Huntington Bancshares Incorporated
Quarterly Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)(1)
(Unaudited)
December 31, September 30, June 30, March 31, December 31,
(dollar amounts in millions)
 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.

14

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 

15

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.
16

Huntington Bancshares Incorporated
Quarterly Common Stock Summary, Non-Regulatory Capital, and Other Data
(Unaudited)
Quarterly common stock summary
December 31, September 30, June 30, March 31, December 31,
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.



17

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.
18

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.

19

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.
20

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.

21

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.

22

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 

23

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  %


24

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.




25

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 



26