Document

Exhibit 99.2

HUNTINGTON BANCSHARES INCORPORATED

Quarterly Financial Supplement

March 31, 2021

Table of Contents


Quarterly Key Statistics			1



Consolidated Balance Sheets			3

Loans and Leases Composition			4

Deposits Composition			5

Consolidated Quarterly Average Balance Sheets			6

Consolidated Quarterly Net Interest Margin - Interest Income / Expense			7

Consolidated Quarterly Net Interest Margin - Yield			8

Selected Quarterly Income Statement Data			9

Quarterly Mortgage Banking Income			10

Quarterly Credit Reserves Analysis			11

Quarterly Net Charge-Off Analysis			12

Quarterly Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)			13

Quarterly Accruing Past Due Loans and Leases and Accruing and Nonaccruing Troubled Debt Restructured Loans			14

Quarterly Capital Under Current Regulatory Standards (Basel III) and Other Capital Data			15

Quarterly Common Stock Summary, Non-Regulatory Capital, and Other Data			16

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%.

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)	March 31,			December 31,			March 31,			Percent Changes vs.
	2021			2020			2020			4Q20		1Q20
Net interest income (2)	$	978		$	830		$	796		18	%	23	%
FTE adjustment	(6)			(5)			(6)			(20)		—
Net interest income	972			825			790			18		23
Provision for credit losses	(60)			103			441			(158)		(114)
Noninterest income	395			409			361			(3)		9
Noninterest expense	793			756			652			5		22
Income before income taxes	634			375			58			69		993
Provision for income taxes	102			59			10			73		920
Net income	532			316			48			68		1,008
Dividends on preferred shares	31			35			18			(11)		72
Net income applicable to common shares	$	501		$	281		$	30		78	%	1,570	%

Net income per common share - diluted	$	0.48		$	0.27		$	0.03		78	%	1,500	%
Cash dividends declared per common share	0.15			0.15			0.15			—		—
Tangible book value per common share at end of period	8.64			8.51			8.28			2		4
Number of common shares repurchased	—			415			7,088			(100)		(100)
Average common shares - basic	1,018			1,017			1,018			—		—
Average common shares - diluted	1,041			1,036			1,035			—		1
Ending common shares outstanding	1,018			1,017			1,014			—		—
Return on average assets	1.76		%	1.04		%	0.17		%
Return on average common shareholders’ equity	18.7			10.4			1.1
Return on average tangible common shareholders’ equity (1)	23.7			13.3			1.8
Net interest margin (2)	3.48			2.94			3.14
Efficiency ratio (3)	57.0			60.2			55.4
Effective tax rate	16.1			15.8			17.0
Average total assets	$	122,995		$	120,995		$	110,147		2		12
Average earning assets	114,105			112,222			101,783			2		12
Average loans and leases	80,261			81,116			75,696			(1)		6
Average loans and leases - linked quarter annualized growth rate	(4.2)		%	2.9		%	3.2		%
Average total deposits	$	99,285		$	96,564		$	82,733		3		20
Average core deposits (4)	95,815			92,325			79,528			4		20
Average core deposits - linked quarter annualized growth rate	15.1		%	7.2		%	(0.8)		%
Average shareholders’ equity	13,324			12,941			11,636			3		15
Average common total shareholders' equity	10,858			10,749			10,433			1		4
Average tangible common shareholders' equity	8,722			8,605			8,264			1		6
Total assets at end of period	125,768			123,038			113,897			2		10
Total shareholders’ equity at end of period	13,600			12,993			11,769			5		16

NCOs as a % of average loans and leases	0.32		%	0.55		%	0.62		%
NAL ratio	0.64			0.65			0.72
NPA ratio (5)	0.68			0.69			0.75
Allowance for loan and lease losses (ALLL) as a % of total loans and leases at the end of period	2.12			2.22			1.93
Common equity tier 1 risk-based capital ratio (6)	10.33			10.00			9.47
Tangible common equity / tangible asset ratio (7)	7.11			7.16			7.52

See Notes to the 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)March 31, 2021, 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


	March 31,		December 31,
(dollar amounts in millions)	2021		2020		Percent Changes
	(Unaudited)
Assets
Cash and due from banks	$	1,096	$	1,319	(17)	%
Interest-bearing deposits in Federal Reserve Bank	7,493		5,276		42
Interest-bearing deposits in banks	52		117		(56)
Trading account securities	51		62		(18)
Available-for-sale securities	19,375		16,485		18
Held-to-maturity securities	7,815		8,861		(12)


Other securities	411		418		(2)
Loans held for sale	1,537		1,275		21
Loans and leases (1)	80,230		81,608		(2)
Allowance for loan and lease losses	(1,703)		(1,814)		6
Net loans and leases	78,527		79,794		(2)
Bank owned life insurance	2,581		2,577		—
Premises and equipment	747		757		(1)
Goodwill	1,990		1,990		—
Service rights and other intangible assets	480		428		12
Other assets	3,613		3,679		(2)
Total assets	$	125,768	$	123,038	2	%

Liabilities and shareholders’ equity
Liabilities
Deposits (2)	$	102,184	$	98,948	3	%
Short-term borrowings	219		183		20
Long-term debt	7,210		8,352		(14)
Other liabilities	2,555		2,562		—
Total liabilities	112,168		110,045		2

Shareholders' equity
Preferred stock	2,676		2,191		22
Common stock	10		10		—
Capital surplus	8,806		8,781		—
Less treasury shares, at cost	(59)		(59)		—
Accumulated other comprehensive gain (loss)	(56)		192		(129)
Retained earnings (deficit)	2,223		1,878		18
Total shareholders’ equity	13,600		12,993		5
Total liabilities and shareholders’ equity	$	125,768	$	123,038	2	%

Common shares authorized (par value of $0.01)	2,250,000,000		1,500,000,000
Common shares outstanding	1,018,052,923		1,017,196,776
Treasury shares outstanding	5,041,104		5,062,054
Preferred stock, authorized shares	6,617,808		6,617,808
Preferred shares outstanding	1,250,500		750,500

(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)


	March 31,				December 31,				September 30,				June 30,				March 31,
(dollar amounts in millions)	2021				2020				2020				2020				2020
Ending Balances by Type:
Total loans
Commercial:
Commercial and industrial	$	34,464	43	%	$	35,373	43	%	$	34,895	43	%	$	34,879	44	%	$	32,959	42	%
Commercial real estate:
Construction	1,083		1		1,035		1		1,154		1		1,200		1		1,180		2
Commercial	6,096		8		6,164		8		6,055		7		5,979		7		5,793		7
Commercial real estate	7,179		9		7,199		9		7,209		8		7,179		8		6,973		9
Total commercial	41,643		52		42,572		52		42,104		51		42,058		52		39,932		51
Consumer:
Automobile	12,591		16		12,778		16		12,925		17		12,678		16		12,907		17
Home equity	8,727		11		8,894		11		8,904		11		8,866		11		9,010		11
Residential mortgage	12,092		15		12,141		15		12,031		15		11,621		15		11,398		15
RV and marine	4,218		5		4,190		5		4,146		5		3,843		5		3,643		5
Other consumer	959		1		1,033		1		1,046		1		1,073		1		1,145		1
Total consumer	38,587		48		39,036		48		39,052		49		38,081		48		38,103		49
Total loans and leases	$	80,230	100	%	$	81,608	100	%	$	81,156	100	%	$	80,139	100	%	$	78,035	100	%


	March 31,				December 31,				September 30,				June 30,				March 31,
(dollar amounts in millions)	2021				2020				2020				2020				2020
Ending Balances by Business Segment:
Consumer and Business Banking	$	26,658	33	%	$	27,230	33	%	$	27,517	34	%	$	27,173	34	%	$	21,544	28	%
Commercial Banking	27,318		34		27,374		34		26,847		33		26,916		34		29,421		38
Vehicle Finance	19,474		24		20,027		25		19,891		25		19,345		24		20,552		26
RBHPCG	6,587		8		6,809		8		6,682		8		6,576		8		6,457		8
Treasury / Other	193		1		168		—		219		—		129		—		61		—
Total loans and leases	$	80,230	100	%	$	81,608	100	%	$	81,156	100	%	$	80,139	100	%	$	78,035	100	%

Average Balances by Business Segment:
Consumer and Business Banking	$	27,069	34	%	$	27,483	34	%	$	27,315	34	%	$	25,379	32	%	$	21,593	29	%
Commercial Banking	26,694		33		26,727		33		26,809		34		28,173		35		27,238		36
Vehicle Finance	19,735		25		19,977		25		19,651		24		19,822		25		20,307		27
RBHPCG	6,568		8		6,751		8		6,630		8		6,498		8		6,415		8
Treasury / Other	195		—		178		—		137		—		327		—		143		—
Total loans and leases	$	80,261	100	%	$	81,116	100	%	$	80,542	100	%	$	80,199	100	%	$	75,696	100	%

Huntington Bancshares Incorporated

Deposits Composition

(Unaudited)


	March 31,				December 31,				September 30,				June 30,				March 31,
(dollar amounts in millions)	2021				2020				2020				2020				2020
Ending Balances by Type:
Demand deposits - noninterest-bearing	$	31,226	30	%	$	28,553	29	%	$	27,466	29	%	$	27,574	29	%	$	21,039	24	%
Demand deposits - interest-bearing	27,493		27		26,757		27		24,242		25		22,961		25		23,115		27
Money market deposits	26,268		26		26,248		27		26,230		28		25,312		27		25,068		29
Savings and other domestic deposits	13,115		13		11,722		12		11,268		12		11,034		12		9,845		11
Core certificates of deposit (1)	1,329		1		1,425		1		1,586		2		2,478		3		3,599		4
Total core deposits	99,431		97		94,705		96		90,792		96		89,359		96		82,666		95
Other domestic deposits of $250,000 or more	105		—		131		—		156		—		209		—		276		—
Brokered deposits and negotiable CDs	2,648		3		4,112		4		4,206		4		4,123		4		3,888		5

Total deposits	$	102,184	100	%	$	98,948	100	%	$	95,154	100	%	$	93,691	100	%	$	86,830	100	%
Total core deposits:
Commercial	$	46,539	47	%	$	44,698	47	%	$	43,018	47	%	$	41,630	47	%	$	38,064	46	%
Consumer	52,892		53		50,007		53		47,774		53		47,729		53		44,602		54
Total core deposits	$	99,431	100	%	$	94,705	100	%	$	90,792	100	%	$	89,359	100	%	$	82,666	100	%


	March 31,				December 31,				September 30,				June 30,				March 31,
(dollar amounts in millions)	2021				2020				2020				2020				2020
Ending Balances by Business Segment:
Consumer and Business Banking	$	65,437	64	%	$	60,910	61	%	$	59,302	62	%	$	59,202	63	%	$	51,898	60	%
Commercial Banking	25,420		25		24,766		25		23,599		25		22,041		24		23,530		27
Vehicle Finance	849		1		722		1		777		1		824		1		525		1
RBHPCG	7,163		7		7,635		8		6,623		7		6,834		7		6,265		7
Treasury / Other (2)	3,315		3		4,915		5		4,853		5		4,790		5		4,612		5
Total deposits	$	102,184	100	%	$	98,948	100	%	$	95,154	100	%	$	93,691	100	%	$	86,830	100	%

Average Balances by Business Segment:
Consumer and Business Banking	$	62,333	63	%	$	60,163	62	%	$	59,460	63	%	$	56,858	61	%	$	51,296	62	%
Commercial Banking	25,100		25		24,051		25		23,285		24		24,414		26		21,525		26
Vehicle Finance	768		1		760		1		839		1		646		1		366		—
RBHPCG	7,059		7		6,850		7		6,605		7		6,565		7		6,100		7
Treasury / Other (2)	4,025		4		4,740		5		4,860		5		4,739		5		3,446		5
Total deposits	$	99,285	100	%	$	96,564	100	%	$	95,049	100	%	$	93,222	100	%	$	82,733	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)
	March 31,		December 31,		September 30,		June 30,		March 31,		Percent Changes vs.
(dollar amounts in millions)	2021		2020		2020		2020		2020		4Q20		1Q20
Assets
Interest-bearing deposits in Federal Reserve Bank	$	6,065	$	5,507	$	5,857	$	3,413	$	680	10	%	792	%
Interest-bearing deposits in banks	177		205		177		169		150		(14)		18
Securities:
Trading account securities	52		53		49		39		95		(2)		(45)
Available-for-sale securities:
Taxable	14,827		12,048		10,670		11,179		11,671		23		27
Tax-exempt	2,650		2,710		2,749		2,728		2,753		(2)		(4)
Total available-for-sale securities	17,477		14,758		13,419		13,907		14,424		18		21


Held-to-maturity securities - taxable	8,269		8,844		8,932		9,798		9,428		(7)		(12)





Other securities	412		420		430		474		445		(2)		(7)
Total securities	26,210		24,075		22,830		24,218		24,392		9		7
Loans held for sale	1,392		1,319		1,259		1,039		865		6		61
Loans and leases: (2)
Commercial:
Commercial and industrial	34,352		34,850		34,669		35,284		30,849		(1)		11
Commercial real estate:
Construction	1,053		1,085		1,175		1,201		1,165		(3)		(10)
Commercial	6,122		6,092		6,045		5,885		5,566		—		10
Commercial real estate	7,175		7,177		7,220		7,086		6,731		—		7
Total commercial	41,527		42,027		41,889		42,370		37,580		(1)		11
Consumer:
Automobile	12,665		12,857		12,889		12,681		12,924		(1)		(2)
Home equity	8,809		8,919		8,878		8,897		9,026		(1)		(2)
Residential mortgage	12,094		12,100		11,817		11,463		11,391		—		6
RV and marine	4,193		4,181		4,020		3,706		3,590		—		17
Other consumer	973		1,032		1,049		1,082		1,185		(6)		(18)
Total consumer	38,734		39,089		38,653		37,829		38,116		(1)		2
Total loans and leases	80,261		81,116		80,542		80,199		75,696		(1)		6
Allowance for loan and lease losses	(1,809)		(1,804)		(1,720)		(1,557)		(1,239)		—		(46)
Net loans and leases	78,452		79,312		78,822		78,642		74,457		(1)		5
Total earning assets	114,105		112,222		110,665		109,038		101,783		2		12
Cash and due from banks	1,080		1,113		1,173		1,299		914		(3)		18
Intangible assets	2,176		2,185		2,195		2,206		2,217		—		(2)
All other assets	7,443		7,279		7,216		7,205		6,472		2		15
Total assets	$	122,995	$	120,995	$	119,529	$	118,191	$	110,147	2	%	12	%
Liabilities and shareholders’ equity
Interest-bearing deposits:
Demand deposits - interest-bearing	$	26,812	$	25,094	$	23,865	$	23,878	$	21,202	7	%	26	%
Money market deposits	26,247		26,144		26,200		25,728		24,697		—		6
Savings and other domestic deposits	12,277		11,468		11,157		10,609		9,632		7		27
Core certificates of deposit (3)	1,384		1,479		2,035		3,003		3,943		(6)		(65)

Other domestic deposits of $250,000 or more	115		139		175		230		321		(17)		(64)
Brokered deposits and negotiable CDs	3,355		4,100		4,182		4,114		2,884		(18)		16

Total interest-bearing deposits	70,190		68,424		67,614		67,562		62,679		3		12
Short-term borrowings	208		239		162		826		3,383		(13)		(94)
Long-term debt	7,766		8,799		9,318		9,802		10,076		(12)		(23)
Total interest-bearing liabilities	78,164		77,462		77,094		78,190		76,138		1		3
Demand deposits - noninterest-bearing	29,095		28,140		27,435		25,660		20,054		3		45
All other liabilities	2,412		2,452		2,322		2,396		2,319		(2)		4
Shareholders’ equity	13,324		12,941		12,678		11,945		11,636		3		15
Total liabilities and shareholders’ equity	$	122,995	$	120,995	$	119,529	$	118,191	$	110,147	2	%	12	%

(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
	March 31,		December 31,		September 30,		June 30,		March 31,
(dollar amounts in millions)	2021		2020		2020		2020		2020
Assets
Interest-bearing deposits in Federal Reserve Bank	$	2	$	2	$	1	$	1	$	2
Interest-bearing deposits in banks	—		—		—		—		1
Securities:
Trading account securities	—		1		—		—		1
Available-for-sale securities:
Taxable	49		46		50		65		76
Tax-exempt	17		17		18		19		23
Total available-for-sale securities	66		63		68		84		99
Held-to-maturity securities - taxable	42		47		52		58		59



Other securities	2		2		1		1		2
Total securities	110		113		121		143		161
Loans held for sale	9		9		9		9		7
Loans and leases:
Commercial:
Commercial and industrial	343		324		325		323		318
Commercial real estate:
Construction	9		9		10		11		14
Commercial	40		41		41		43		56
Commercial real estate	49		50		51		54		70
Total commercial	392		374		376		377		388
Consumer:
Automobile	116		125		128		121		130
Home equity	80		85		84		82		107
Residential mortgage	95		99		101		101		105
RV and marine	44		47		47		43		44
Other consumer	27		29		30		30		36
Total consumer	362		385		390		377		422
Total loans and leases	754		759		766		754		810
Total earning assets	$	875	$	883	$	897	$	907	$	981

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

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

Total interest-bearing deposits	11		15		31		47		105
Short-term borrowings	—		—		—		1		12
Long-term debt	(114)		38		44		62		68
Total interest bearing liabilities	(103)		53		75		110		185
Net interest income	$	978	$	830	$	822	$	797	$	796

(1)Fully-taxable equivalent (FTE) income and expense calculated assuming a 21% tax rate. See page 9 for the FTE adjustment.

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

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

Huntington Bancshares Incorporated

Consolidated Quarterly Net Interest Margin - Yield

(Unaudited)


	Quarterly Average Rates
	March 31,		December 31,		September 30,		June 30,		March 31,
Fully-taxable equivalent basis (1)	2021		2020		2020		2020		2020
Assets
Interest-bearing deposits in Federal Reserve Bank	0.10	%	0.10	%	0.10	%	0.10	%	1.08	%
Interest-bearing deposits in banks	0.08		0.12		0.13		0.33		1.52
Securities:
Trading account securities	3.64		3.65		3.18		1.99		3.21
Available-for-sale securities:
Taxable	1.32		1.53		1.89		2.30		2.62
Tax-exempt	2.52		2.59		2.71		2.75		3.30
Total available-for-sale securities	1.50		1.72		2.06		2.39		2.75
Held-to-maturity securities - taxable	2.02		2.11		2.28		2.39		2.50



Other securities	1.66		1.85		1.23		0.57		2.07
Total securities	1.67		1.87		2.13		2.35		2.64
Loans held for sale	2.64		2.96		2.82		3.22		3.39
Loans and leases: (3)
Commercial:
Commercial and industrial	3.99		3.64		3.67		3.62		4.12
Commercial real estate:
Construction	3.41		3.36		3.40		3.66		4.75
Commercial	2.64		2.62		2.63		2.94		4.00
Commercial real estate	2.75		2.73		2.75		3.06		4.13
Total commercial	3.78		3.48		3.52		3.53		4.12
Consumer:
Automobile	3.71		3.88		3.93		3.84		4.05
Home equity	3.71		3.76		3.79		3.73		4.75
Residential mortgage	3.13		3.27		3.41		3.51		3.70
RV and marine	4.30		4.53		4.60		4.71		4.91
Other consumer	11.17		11.12		11.23		11.10		12.39
Total consumer	3.78		3.93		4.00		4.00		4.45
Total loans and leases	3.78		3.70		3.75		3.75		4.29
Total earning assets	3.11		3.13		3.22		3.35		3.88
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	0.04		0.04		0.05		0.07		0.43
Money market deposits	0.06		0.10		0.28		0.40		0.81
Savings and other domestic deposits	0.04		0.05		0.06		0.10		0.17
Core certificates of deposit (4)	0.51		0.56		1.03		1.55		1.91

Other domestic deposits of $250,000 or more	0.22		0.51		0.92		1.25		1.56
Brokered deposits and negotiable CDs	0.18		0.19		0.19		0.18		1.22

Total interest-bearing deposits	0.06		0.08		0.18		0.28		0.68
Short-term borrowings	0.19		0.26		0.30		0.47		1.46
Long-term debt	(5.88)		1.72		1.87		2.58		2.70
Total interest-bearing liabilities	(0.53)		0.27		0.39		0.57		0.98

Net interest rate spread	3.64		2.86		2.83		2.78		2.90
Impact of noninterest-bearing funds on margin	(0.16)		0.08		0.13		0.16		0.24
Net interest margin	3.48	%	2.94	%	2.96	%	2.94	%	3.14	%


Commercial Loan Derivative Impact
(Unaudited)
	Average Rates
	2021		2020		2020		2020		2020
Fully-taxable equivalent basis (1)	First		Fourth		Third		Second		First
Commercial loans (2)(3)	3.22	%	2.92	%	3.01	%	3.17	%	4.08	%
Impact of commercial loan derivatives	0.56		0.56		0.51		0.36		0.04
Total commercial - as reported	3.78	%	3.48	%	3.52	%	3.53	%	4.12	%
Average 1 Month LIBOR	0.12	%	0.15	%	0.16	%	0.36	%	1.41	%

(1)Fully-taxable equivalent (FTE) yields are calculated assuming a 21% tax rate. See page 9 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)	March 31,		December 31,		September 30,		June 30,		March 31,
	2021		2020		2020		2020		2020
Interest income	$	869	$	878	$	892	$	902	$	975
Interest expense	(103)		53		75		110		185
Net interest income	972		825		817		792		790
Provision for credit losses	(60)		103		177		327		441
Net interest income after provision for credit losses	1,032		722		640		465		349
Mortgage banking income	100		90		122		96		58
Service charges on deposit accounts	69		78		76		60		87
Card and payment processing income	65		65		66		59		58
Trust and investment management services	52		49		48		45		47
Capital markets fees	29		34		27		31		33
Insurance income	27		25		24		25		23
Bank owned life insurance income	16		14		17		17		16
Gain on sale of loans	3		13		13		8		8
Net (losses) gains on sales of securities	—		—		—		(1)		—
Other noninterest income	34		41		37		51		31
Total noninterest income	395		409		430		391		361
Personnel costs	468		426		453		418		395
Outside data processing and other services	115		111		98		90		85
Equipment	46		49		44		46		41
Net occupancy	42		39		40		39		40
Professional services	17		21		12		11		11
Amortization of intangibles	10		10		10		10		11
Marketing	14		15		9		5		9
Deposit and other insurance expense	8		8		6		9		9
Other noninterest expense	73		77		40		47		51
Total noninterest expense	793		756		712		675		652
Income before income taxes	634		375		358		181		58
Provision for income taxes	102		59		55		31		10
Net income	532		316		303		150		48
Dividends on preferred shares	31		35		28		19		18
Net income applicable to common shares	$	501	$	281	$	275	$	131	$	30

Average common shares - basic	1,018		1,017		1,017		1,016		1,018
Average common shares - diluted	1,041		1,036		1,031		1,029		1,035

Per common share
Net income - basic	$	0.49	$	0.28	$	0.27	$	0.13	$	0.03
Net income - diluted	0.48		0.27		0.27		0.13		0.03
Cash dividends declared	0.15		0.15		0.15		0.15		0.15

Revenue - fully-taxable equivalent (FTE)
Net interest income	$	972	$	825	$	817	$	792	$	790
FTE adjustment	6		5		5		5		6
Net interest income (1)	978		830		822		797		796
Noninterest income	395		409		430		391		361
Total revenue (1)	$	1,373	$	1,239	$	1,252	$	1,188	$	1,157

(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
	March 31,			December 31,			September 30,			June 30,			March 31,			Percent Changes vs.
(dollar amounts in millions)	2021			2020			2020			2020			2020			4Q20		1Q20
Net origination and secondary marketing income	$	94		$	92		$	118		$	91		$	45		2	%	109	%
Net mortgage servicing income
Loan servicing income	17			16			15			14			16			6		6
Amortization of capitalized servicing	(20)			(17)			(15)			(12)			(9)			(18)		(122)
Operating income	(3)			(1)			—			2			7			(200)		(143)
MSR valuation adjustment (1)	51			4			3			(6)			(53)			1,175		196
Gains (losses) due to MSR hedging	(46)			(9)			(1)			6			57			(411)		(181)
Net MSR risk management	5			(5)			2			—			4			200		25
Total net mortgage servicing income	$	2		$	(6)		$	2		$	2		$	11		133	%	(82)	%
All other	4			4			2			3			2			—		100
Mortgage banking income	$	100		$	90		$	122		$	96		$	58		11	%	72	%

Mortgage origination volume	$	4,042		$	3,741		$	3,811		$	3,802		$	2,136		8	%	89	%
Mortgage origination volume for sale	2,669			2,444			2,568			2,421			1,409			9		89

Third party mortgage loans serviced (2)	23,585			23,471			23,334			23,184			22,775			—		4
Mortgage servicing rights (2)	274			210			191			172			165			30		66
MSR % of investor servicing portfolio (2)	1.16		%	0.89		%	0.82		%	0.74		%	0.72		%	30	%	61	%

(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
	March 31,			December 31,			September 30,			June 30,			March 31,
(dollar amounts in millions)	2021			2020			2020			2020			2020
Allowance for loan and lease losses, beginning of period	$	1,814		$	1,796		$	1,702		$	1,504		$	783
Cumulative-effect of change in accounting principle for financial instruments - credit losses (ASU 2016-13)	—			—			—			—			391
Loan and lease losses	(95)			(140)			(141)			(123)			(136)
Recoveries of loans previously charged off	31			28			28			16			19
Net loan and lease losses	(64)			(112)			(113)			(107)			(117)
Provision for loan and lease losses	(47)			130			207			305			447
Allowance of assets sold or transferred to loans held for sale	—			—			—			—			—
Allowance for loan and lease losses, end of period	1,703			1,814			1,796			1,702			1,504
Allowance for unfunded loan commitments and letters of credit, beginning of period	52			82			119			99			104
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	(13)			(27)			(30)			22			(6)
Unfunded commitment losses	(1)			(3)			(7)			(2)			(1)
Allowance for unfunded loan commitments and letters of credit, end of period	38			52			82			119			99
Total allowance for credit losses, end of period	$	1,741		$	1,866		$	1,878		$	1,821		$	1,603
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases	2.12		%	2.22		%	2.21		%	2.12		%	1.93		%
Nonaccrual loans and leases (NALs)	330			341			316			263			270
Nonperforming assets (NPAs)	313			323			298			239			257
Total allowance for credit losses (ACL) as % of:
Total loans and leases	2.17		%	2.29		%	2.31		%	2.27		%	2.06		%
Nonaccrual loans and leases (NALs)	338			351			330			281			287
Nonperforming assets (NPAs)	320			332			311			255			273

Huntington Bancshares Incorporated

Quarterly Net Charge-Off Analysis

(Unaudited)


	Three Months Ended
	March 31,			December 31,			September 30,			June 30,			March 31,
(dollar amounts in millions)	2021			2020			2020			2020			2020
Net charge-offs by loan and lease type:
Commercial:
Commercial and industrial	$	52		$	58		$	77		$	80		$	84
Commercial real estate:
Construction	—			—			(1)			1			—
Commercial	(3)			32			13			(1)			(1)
Commercial real estate	(3)			32			12			—			(1)
Total commercial	49			90			89			80			83
Consumer:
Automobile	2			6			10			10			7
Home equity	—			1			—			—			5
Residential mortgage	—			1			1			—			1
RV and marine	3			2			4			4			2
Other consumer	10			12			9			13			19
Total consumer	15			22			24			27			34
Total net charge-offs	$	64		$	112		$	113		$	107		$	117


	Three Months Ended
	March 31,			December 31,			September 30,			June 30,			March 31,
	2021			2020			2020			2020			2020
Net charge-offs - annualized percentages:
Commercial:
Commercial and industrial	0.60		%	0.67		%	0.90		%	0.90		%	1.09		%
Commercial real estate:
Construction	(0.04)			(0.04)			(0.25)			(0.01)			0.08
Commercial	(0.17)			2.14			0.80			(0.03)			(0.06)
Commercial real estate	(0.15)			1.81			0.63			(0.03)			(0.03)
Total commercial	0.47			0.86			0.85			0.75			0.89
Consumer:
Automobile	0.05			0.21			0.31			0.31			0.22
Home equity	0.02			0.01			(0.02)			0.08			0.19
Residential mortgage	0.01			0.05			0.03			0.02			0.02
RV and marine	0.29			0.21			0.38			0.37			0.27
Other consumer	3.99			4.35			3.55			4.80			6.45
Total consumer	0.16			0.22			0.24			0.30			0.35
Net charge-offs as a % of average loans	0.32		%	0.55		%	0.56		%	0.54		%	0.62		%

Huntington Bancshares Incorporated

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

(Unaudited)


	March 31,			December 31,			September 30,			June 30,			March 31,
(dollar amounts in millions)	2021			2020			2020			2020			2020
Nonaccrual loans and leases (NALs):
Commercial and industrial	$	343		$	353		$	388		$	485		$	396
Commercial real estate	8			15			16			28			30
Automobile	3			4			5			8			6
Home equity	71			70			71			59			58
Residential mortgage	90			88			88			66			66
RV and marine	1			2			1			2			2
Other consumer	—			—			—			—			—
Total nonaccrual loans and leases	516			532			569			648			558

Other real estate, net:
Residential	2			4			4			5			8
Commercial	—			—			1			2			2
Total other real estate, net	2			4			5			7			10
Other NPAs (2)	26			27			28			58			18
Total nonperforming assets	$	544		$	563		$	602		$	713		$	586

Nonaccrual loans and leases as a % of total loans and leases	0.64		%	0.65		%	0.70		%	0.81		%	0.72		%
NPA ratio (3)	0.68			0.69			0.74			0.89			0.75
(NPA+90days)/(Loan+OREO) (4)	0.87			0.90			0.96			1.13			0.96


	Three Months Ended
	March 31,		December 31,		September 30,		June 30,		March 31,
(dollar amounts in millions)	2021		2020		2020		2020		2020
Nonperforming assets, beginning of period	$	563	$	602	$	713	$	586	$	498
New nonperforming assets	129		248		190		279		274
Returns to accruing status	(33)		(108)		(47)		(25)		(18)
Loan and lease losses	(52)		(73)		(102)		(61)		(91)
Payments	(55)		(82)		(77)		(63)		(70)
Sales	(8)		(24)		(75)		(3)		(7)

Nonperforming assets, end of period	$	544	$	563	$	602	$	713	$	586

(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)


	March 31,			December 31,			September 30,			June 30,			March 31,
(dollar amounts in millions)	2021			2020			2020			2020			2020
Accruing loans and leases past due 90+ days:
Commercial and industrial	$	8		$	10		$	10		$	13		$	10
Commercial real estate	—			—			—			—			—
Automobile	5			9			8			8			8
Home equity	10			14			11			10			12
Residential mortgage (excluding loans guaranteed by the U.S. Government)	18			30			18			17			21
RV and marine	1			3			2			2			2
Other consumer	2			3			2			3			4
Total, excl. loans guaranteed by the U.S. Government	44			69			51			53			57
Add: loans guaranteed by U.S. Government	110			102			124			141			110
Total accruing loans and leases past due 90+ days, including loans guaranteed by the U.S. Government	$	154		$	171		$	175		$	194		$	167

Ratios:
Excluding loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.05		%	0.08		%	0.06		%	0.07		%	0.07		%
Guaranteed by U.S. Government, as a percent of total loans and leases	0.14			0.13			0.15			0.18			0.14
Including loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.19			0.21			0.22			0.24			0.21

Accruing troubled debt restructured loans:
Commercial and industrial	$	127		$	193		$	189		$	192		$	219
Commercial real estate	32			33			34			35			37
Automobile	51			50			53			52			42
Home equity	179			187			199			209			219
Residential mortgage	249			248			256			229			227
RV and marine	7			6			6			6			3
Other consumer	8			9			10			10			11
Total accruing troubled debt restructured loans	$	653		$	726		$	747		$	733		$	758

Nonaccruing troubled debt restructured loans:
Commercial and industrial	$	101		$	95		$	146		$	169		$	119
Commercial real estate	3			3			3			3			4
Automobile	2			2			2			2			2
Home equity	30			30			29			26			25
Residential mortgage	51			51			48			43			42
RV and marine	1			1			1			1			2
Other consumer	—			—			—			—			—
Total nonaccruing troubled debt restructured loans	$	188		$	182		$	229		$	244		$	194

Huntington Bancshares Incorporated

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

(Unaudited)


	March 31,			December 31,			September 30,			June 30,			March 31,
(dollar amounts in millions)	2021			2020			2020			2020			2020
Common equity tier 1 risk-based capital ratio: (1)
Total shareholders’ equity	$	13,600		$	12,992		$	12,917		$	12,314		$	11,769
Regulatory capital adjustments:
CECL transitional amount (2)	422			453			456			442			386
Shareholders’ preferred equity	(2,680)			(2,196)			(2,195)			(1,701)			(1,207)
Accumulated other comprehensive income offset	56			(192)			(257)			(290)			(227)
Goodwill and other intangibles, net of related taxes	(2,095)			(2,107)			(2,118)			(2,129)			(2,141)
Deferred tax assets that arise from tax loss and credit carryforwards	(63)			(63)			(59)			(40)			(42)
Common equity tier 1 capital	9,240			8,887			8,744			8,596			8,538
Additional tier 1 capital
Shareholders’ preferred equity	2,680			2,196			2,195			1,701			1,207

Other	—			—			—			—			1
Tier 1 capital	11,920			11,083			10,939			10,297			9,746
Long-term debt and other tier 2 qualifying instruments	610			660			677			697			619
Qualifying allowance for loan and lease losses	1,119			1,113			1,107			1,093			1,127
Tier 2 capital	1,729			1,773			1,784			1,790			1,746
Total risk-based capital	$	13,649		$	12,856		$	12,723		$	12,087		$	11,492
Risk-weighted assets (RWA)(1)	$	89,485		$	88,878		$	88,417		$	87,323		$	90,193
Common equity tier 1 risk-based capital ratio (1)	10.33		%	10.00		%	9.89		%	9.84		%	9.47		%
Other regulatory capital data:
Tier 1 leverage ratio (1)	9.85			9.32			9.31			8.86			9.01
Tier 1 risk-based capital ratio (1)	13.32			12.47			12.37			11.79			10.81
Total risk-based capital ratio (1)	15.25			14.46			14.39			13.84			12.74
Non-regulatory capital data:
Tangible common equity / RWA ratio (1)	9.83			9.74			9.70			9.69			9.32

(1)March 31, 2021, 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% of the cumulative change in the reported allowance for credit losses since adopting CECL. .

Huntington Bancshares Incorporated

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

(Unaudited)

Quarterly common stock summary


	March 31,		December 31,		September 30,		June 30,		March 31,
	2021		2020		2020		2020		2020





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	1,018		1,017		1,017		1,016		1,018
Average - diluted	1,041		1,036		1,031		1,029		1,035
Ending	1,018		1,017		1,017		1,017		1,014
Tangible book value per common share (1)	$	8.64	$	8.51	$	8.43	$	8.32	$	8.28
Common share repurchases (in millions)
Number of shares repurchased	—		—		—		—		7

Non-regulatory capital


	March 31,			December 31,			September 30,			June 30,			March 31,
(dollar amounts in millions)	2021			2020			2020			2020			2020
Calculation of tangible equity / asset ratio:
Total shareholders’ equity	$	13,600		$	12,992		$	12,917		$	12,314		$	11,769
Less: goodwill	(1,990)			(1,990)			(1,990)			(1,990)			(1,990)
Less: other intangible assets	(181)			(191)			(201)			(211)			(222)
Add: related deferred tax liability (1)	38			40			42			44			47
Total tangible equity	11,467			10,851			10,768			10,157			9,604
Less: preferred equity	(2,676)			(2,192)			(2,192)			(1,697)			(1,203)
Total tangible common equity	$	8,791		$	8,659		$	8,576		$	8,460		$	8,401
Total assets	$	125,768		$	123,038		$	120,116		$	118,425		$	113,897
Less: goodwill	(1,990)			(1,990)			(1,990)			(1,990)			(1,990)
Less: other intangible assets	(181)			(191)			(201)			(211)			(222)
Add: related deferred tax liability (1)	38			40			42			44			47
Total tangible assets	$	123,635		$	120,897		$	117,967		$	116,268		$	111,732
Tangible equity / tangible asset ratio	9.28		%	8.98		%	9.13		%	8.74		%	8.60		%
Tangible common equity / tangible asset ratio	7.11			7.16			7.27			7.28			7.52
Other data:
Number of employees (Average full-time equivalent)	15,449			15,477			15,680			15,703			15,386
Number of domestic full-service branches (2)	814			839			839			839			839
ATM Count	1,314			1,322			1,330			1,344			1,434

(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.