October 28, 2021 - EX-99.2 - 8-K: Current report filing | Huntington Bancshares Incorporated (HBAN)

Exhibit 99.2

HUNTINGTON BANCSHARES INCORPORATED

Quarterly Financial Supplement

September 30, 2021

Table of Contents


Quarterly Key Statistics			1

Year to Date Key Statistics			2

Consolidated Balance Sheets			4

Loans and Leases Composition			5

Deposits Composition			6

Consolidated Quarterly Average Balance Sheets			7

Consolidated Quarterly Net Interest Margin - Interest Income / Expense			8

Consolidated Quarterly Net Interest Margin - Yield			9

Selected Quarterly Income Statement Data			10

Quarterly Mortgage Banking Income			11

Quarterly Credit Reserves Analysis			12

Quarterly Net Charge-Off Analysis			13

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

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

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

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

Consolidated Year to Date Average Balance Sheets			18

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

Consolidated Year to Date Net Interest Margin - Yield			20

Selected Year to Date Income Statement Data			21

Year to Date Mortgage Banking Income			22

Year to Date Credit Reserves Analysis			23

Year to Date Net Charge-Off Analysis			24

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

Notes:

The preparation of financial statement data in conformity with accounting principles generally accepted in the United States (GAAP) requires management to make estimates and assumptions that affect amounts reported. Actual results could differ from those estimates. 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)	September 30,			June 30,			September 30,			Percent Changes vs.
	2021			2021			2020			2Q21		3Q20
Net interest income (2)	$	1,167		$	844		$	822		38	%	42	%
FTE adjustment	(7)			(6)			(5)			(17)		(40)
Net interest income	1,160			838			817			38		42
Provision for credit losses	(62)			211			177			(129)		(135)
Noninterest income	535			444			430			20		24
Noninterest expense	1,289			1,072			712			20		81
Income (loss) before income taxes	468			(1)			358			46,900		31
Provision for income taxes	90			14			55			543		64
Income (loss) after income taxes	378			(15)			303			2,620		25
Income attributable to non-controlling interest	1			—			—			100		100
Net income (loss) attributable to Huntington Bancshares Inc	377			(15)			303			2,613		24
Dividends on preferred shares	29			43			28			(33)		4
Impact of preferred stock redemption	15			—			—			100		100
Net income (loss) applicable to common shares	$	333		$	(58)		$	275		674	%	21	%

Net income (loss) per common share - diluted	$	0.22		$	(0.05)		$	0.27		540	%	(19)	%
Cash dividends declared per common share	0.15			0.15			0.15			—		—
Tangible book value per common share at end of period	8.10			8.23			8.43			(2)		(4)
Number of common shares repurchased	33			—			—			100		100
Average common shares - basic	1,463			1,125			1,017			30		44
Average common shares - diluted	1,487			1,125			1,031			32		44
Ending common shares outstanding	1,446			1,477			1,017			(2)		42
Return on average assets	0.86		%	(0.05)		%	1.01		%
Return on average common shareholders’ equity	7.6			(1.9)			10.2
Return on average tangible common shareholders’ equity (1)	11.5			(2.1)			13.2
Net interest margin (2)	2.90			2.66			2.96
Efficiency ratio (3)	74.9			83.1			56.1
Effective tax rate (4)	19.0			(2,353.3)			15.2
Average total assets	$	173,833		$	137,830		$	119,529		26		45
Average earning assets	159,411			127,421			110,665			25		44
Average loans and leases	109,931			87,437			80,542			26		36
Average loans and leases - linked quarter annualized growth rate	102.9		%	35.8		%	1.7		%
Average total deposits	$	142,303		$	112,678		$	95,049		26		50
Average core deposits (5)	137,816			109,433			90,692			26		52
Average core deposits - linked quarter annualized growth rate	103.7		%	56.9		%	8.2		%
Average shareholders’ equity	19,783			15,410			12,678			28		56
Average common total shareholders' equity	17,428			12,697			10,701			37		63
Average tangible common shareholders' equity	11,905			9,686			8,549			23		39
Total assets at end of period	173,878			175,172			120,116			(1)		45
Total shareholders’ equity at end of period	19,479			20,511			12,917			(5)		51

NCOs as a % of average loans and leases	0.20		%	0.28		%	0.56		%
NAL ratio	0.78			0.87			0.70
NPA ratio (6)	0.81			0.91			0.74
Allowance for loan and lease losses (ALLL) as a % of total loans and leases at the end of period	1.91			1.98			2.21
Allowance for credit losses (ACL) as a % of total loans and leases at the end of period	1.99			2.08			2.31
Common equity tier 1 risk-based capital ratio (7)	9.57			9.98			9.89
Tangible common equity / tangible asset ratio (8)	6.96			7.16			7.27

See Notes to the Quarterly Key Statistics.

Huntington Bancshares Incorporated

Year to Date Key Statistics

(Unaudited)


	Nine Months Ended September 30,						Change
(dollar amounts in millions, except per share data)	2021			2020			Amount		Percent
Net interest income (2)	$	2,989		$	2,415		$	574	24	%
FTE adjustment	(19)			(16)			(3)		(19)
Net interest income	2,970			2,399			571		24
Provision for credit losses	89			945			(856)		(91)
Noninterest income	1,374			1,182			192		16
Noninterest expense	3,154			2,039			1,115		55
Income before income taxes	1,101			597			504		84
Provision for income taxes	206			96			110		115
Income after income taxes	895			501			394		79
Income attributable to non-controlling interest	1			—			1		100
Net Income attributable to Huntington Bancshares Inc	894			501			393		78
Dividends on preferred shares	103			65			38		58
Impact of preferred stock redemption	15			—			15		100
Net income applicable to common shares	$	776		$	436		$	340	78	%

Net income per common share - diluted	$	0.63		$	0.42		$	0.21	50	%
Cash dividends declared per common share	0.45			0.45			—		—

Average common shares - basic	1,202			1,017			185		18
Average common shares - diluted	1,225			1,032			193		19

Return on average assets	0.82		%	0.58		%
Return on average common shareholders’ equity	7.5			5.5
Return on average tangible common shareholders’ equity (1)	10.6			7.3
Net interest margin (2)	2.99			3.01
Efficiency ratio (3)	71.7			55.8
Effective tax rate	18.7			16.0

Average total assets	$	145,072		$	115,969		$	29,103	25
Average earning assets	133,812			107,175			26,637		25
Average loans and leases	92,651			78,818			13,833		18
Average total deposits	118,246			90,352			27,894		31
Average core deposits (5)	114,509			86,382			28,127		33
Average shareholders’ equity	16,196			12,088			4,108		34
Average common total shareholders' equity	13,685			10,575			3,110		29
Average tangible common shareholders' equity	10,116			8,415			1,701		20

NCOs as a % of average loans and leases	0.26		%	0.57		%
NAL ratio	0.78			0.70
NPA ratio (6)	0.81			0.74

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

Key Statistics Footnotes

(1)Net income (loss) 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)For the three months ended June 30, 2021, excluding TCF acquisition-related net expenses of $269 million, the related tax benefit of $51 million and discrete tax expenses of $16 million, the effective tax rate would have been 18.8%.

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

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

(7)September 30, 2021, figures are estimated.

(8)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


	September 30,		December 31,
(dollar amounts in millions)	2021		2020		Percent Changes
	(Unaudited)
Assets
Cash and due from banks	$	1,611	$	1,319	22	%
Interest-bearing deposits at Federal Reserve Bank	8,134		5,276		54
Interest-bearing deposits in banks	443		117		279
Trading account securities	77		62		24
Available-for-sale securities	25,654		16,485		56
Held-to-maturity securities	12,455		8,861		41


Other securities	649		418		55
Loans held for sale	1,335		1,275		5
Loans and leases (1)	110,567		81,608		35
Allowance for loan and lease losses	(2,107)		(1,814)		(16)
Net loans and leases	108,460		79,794		36
Bank owned life insurance	2,771		2,577		8
Premises and equipment	1,126		757		49
Goodwill	5,316		1,990		167
Servicing rights and other intangible assets	614		428		43
Other assets	5,233		3,679		42
Total assets	$	173,878	$	123,038	41	%

Liabilities and shareholders’ equity
Liabilities
Deposits (2)	$	141,898	$	98,948	43	%
Short-term borrowings	435		183		138
Long-term debt	7,779		8,352		(7)
Other liabilities	4,267		2,562		67
Total liabilities	154,379		110,045		40

Shareholders' equity
Preferred stock	2,267		2,191		3
Common stock	15		10		50
Capital surplus	15,350		8,781		75
Less treasury shares, at cost	(79)		(59)		(34)
Accumulated other comprehensive (loss) gain	(125)		192		(165)
Retained earnings	2,051		1,878		9
Total Huntington Bancshares Inc shareholders’ equity	19,479		12,993		50
Non-controlling interest	20		—		100
Total Equity	19,499		12,993		50
Total liabilities and shareholders’ equity	$	173,878	$	123,038	41	%

Common shares authorized (par value of $0.01)	2,250,000,000		1,500,000,000
Common shares outstanding	1,446,461,249		1,017,196,776
Treasury shares outstanding	6,306,127		5,062,054
Preferred stock, authorized shares	6,617,808		6,617,808
Preferred shares outstanding	657,500		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)


	September 30,				June 30,				March 31,				December 31,				September 30,
(dollar amounts in millions)	2021				2021				2021				2020				2020
Ending Balances by Type:
Total loans
Commercial:
Commercial and industrial	$	40,452	36	%	$	41,900	38	%	$	32,297	40	%	$	33,151	40	%	$	32,588	40	%
Commercial real estate:
Construction	1,812		2		1,926		2		1,083		1		1,035		1		1,154		1
Commercial	12,882		12		12,848		11		6,096		8		6,164		8		6,055		7
Commercial real estate	14,694		14		14,774		13		7,179		9		7,199		9		7,209		8
Lease financing	4,991		5		5,027		4		2,167		3		2,222		3		2,307		3
Total commercial	60,137		55		61,701		55		41,643		52		42,572		52		42,104		51
Consumer:
Automobile	13,305		12		13,174		12		12,591		16		12,778		16		12,925		17
Residential mortgage	18,922		17		18,729		17		12,092		15		12,141		15		12,031		15
Home equity	10,919		10		11,317		10		8,727		11		8,894		11		8,904		11
RV and marine	5,052		4		4,960		4		4,218		5		4,190		5		4,146		5
Other consumer	2,232		2		2,024		2		959		1		1,033		1		1,046		1
Total consumer	50,430		45		50,204		45		38,587		48		39,036		48		39,052		49
Total loans and leases	$	110,567	100	%	$	111,905	100	%	$	80,230	100	%	$	81,608	100	%	$	81,156	100	%


	September 30,				June 30,				March 31,				December 31,				September 30,
(dollar amounts in millions)	2021				2021				2021				2020				2020
Ending Balances by Business Segment:
Consumer and Business Banking	$	35,276	32	%	$	36,798	33	%	$	26,658	33	%	$	27,230	33	%	$	27,517	34	%
Commercial Banking	46,988		43		46,559		41		27,318		34		27,374		34		26,847		33
Vehicle Finance	20,353		18		20,196		18		19,474		24		20,027		25		19,891		25
RBHPCG (Regional Banking and The Huntington Private Client Group)	7,743		7		7,394		7		6,587		8		6,809		8		6,682		8
Treasury / Other	207		—		958		1		193		1		168		—		219		—
Total loans and leases	$	110,567	100	%	$	111,905	100	%	$	80,230	100	%	$	81,608	100	%	$	81,156	100	%

Average Balances by Business Segment:
Consumer and Business Banking	$	35,807	33	%	$	28,948	33	%	$	27,069	34	%	$	27,483	34	%	$	27,315	34	%
Commercial Banking	46,180		42		31,896		37		26,694		33		26,727		33		26,809		34
Vehicle Finance	20,219		18		19,548		22		19,735		25		19,977		25		19,651		24
RBHPCG	7,527		7		6,840		8		6,568		8		6,751		8		6,630		8
Treasury / Other	198		—		205		—		195		—		178		—		137		—
Total loans and leases	$	109,931	100	%	$	87,437	100	%	$	80,261	100	%	$	81,116	100	%	$	80,542	100	%

Huntington Bancshares Incorporated

Deposits Composition

(Unaudited)


	September 30,				June 30,				March 31,				December 31,				September 30,
(dollar amounts in millions)	2021				2021				2021				2020				2020
Ending Balances by Type:
Demand deposits - noninterest-bearing	$	44,560	31	%	$	45,249	32	%	$	31,226	30	%	$	28,553	29	%	$	27,466	29	%
Demand deposits - interest-bearing	36,423		26		34,938		24		27,493		27		26,757		27		24,242		25
Money market deposits	32,662		23		33,616		24		26,268		26		26,248		27		26,230		28
Savings and other domestic deposits	20,773		15		20,876		15		13,115		13		11,722		12		11,268		12
Core certificates of deposit (1)	3,080		2		3,537		2		1,329		1		1,425		1		1,586		2
Total core deposits	137,498		97		138,216		97		99,431		97		94,705		96		90,792		96
Other domestic deposits of $250,000 or more	521		—		675		—		105		—		131		—		156		—
Negotiable CDS, brokered and other deposits	3,879		3		3,914		3		2,648		3		4,112		4		4,206		4

Total deposits	$	141,898	100	%	$	142,805	100	%	$	102,184	100	%	$	98,948	100	%	$	95,154	100	%
Total core deposits:
Commercial	$	61,210	45	%	$	61,055	44	%	$	46,539	47	%	$	44,698	47	%	$	43,018	47	%
Consumer	76,288		55		77,161		56		52,892		53		50,007		53		47,774		53
Total core deposits	$	137,498	100	%	$	138,216	100	%	$	99,431	100	%	$	94,705	100	%	$	90,792	100	%


	September 30,				June 30,				March 31,				December 31,				September 30,
(dollar amounts in millions)	2021				2021				2021				2020				2020
Ending Balances by Business Segment:
Consumer and Business Banking	$	94,439	67	%	$	95,693	67	%	$	65,437	64	%	$	60,910	61	%	$	59,302	62	%
Commercial Banking	32,531		23		32,624		23		25,420		25		24,766		25		23,599		25
Vehicle Finance	1,437		1		1,155		1		849		1		722		1		777		1
RBHPCG	9,025		6		8,416		6		7,163		7		7,635		8		6,623		7
Treasury / Other (2)	4,466		3		4,917		3		3,315		3		4,915		5		4,853		5
Total deposits	$	141,898	100	%	$	142,805	100	%	$	102,184	100	%	$	98,948	100	%	$	95,154	100	%

Average Balances by Business Segment:
Consumer and Business Banking	$	94,719	67	%	$	73,011	65	%	$	62,333	63	%	$	60,163	62	%	$	59,460	63	%
Commercial Banking	32,867		23		27,372		24		25,100		25		24,051		25		23,285		24
Vehicle Finance	1,328		1		1,035		1		768		1		760		1		839		1
RBHPCG	8,587		6		7,564		7		7,059		7		6,850		7		6,605		7
Treasury / Other (2)	4,802		3		3,696		3		4,025		4		4,740		5		4,860		5
Total deposits	$	142,303	100	%	$	112,678	100	%	$	99,285	100	%	$	96,564	100	%	$	95,049	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)
	September 30,		June 30,		March 31,		December 31,		September 30,		Percent Changes vs.
(dollar amounts in millions)	2021		2021		2021		2020		2020		2Q21		3Q20
Assets
Interest-bearing deposits at Federal Reserve Bank	$	11,536	$	7,636	$	6,065	$	5,507	$	5,857	51	%	97	%
Interest-bearing deposits in banks	466		319		177		205		177		46		163
Securities:
Trading account securities	49		48		52		53		49		2		—
Available-for-sale securities:
Taxable	20,147		20,096		14,827		12,048		10,670		—		89
Tax-exempt	3,116		2,832		2,650		2,710		2,749		10		13
Total available-for-sale securities	23,263		22,928		17,477		14,758		13,419		1		73


Held-to-maturity securities - taxable	11,964		7,280		8,269		8,844		8,932		64		34





Other securities	677		479		412		420		430		41		57
Total securities	35,953		30,735		26,210		24,075		22,830		17		57
Loans held for sale	1,525		1,294		1,392		1,319		1,259		18		21
Loans and leases: (2)
Commercial:
Commercial and industrial	40,597		34,126		32,153		32,508		32,464		19		25
Commercial real estate:
Construction	1,803		1,310		1,053		1,085		1,175		38		53
Commercial	12,891		7,773		6,122		6,092		6,045		66		113
Commercial real estate	14,694		9,083		7,175		7,177		7,220		62		104
Lease financing	4,983		2,798		2,199		2,342		2,205		78		126
Total commercial	60,274		46,007		41,527		42,027		41,889		31		44
Consumer:
Automobile	13,209		12,793		12,665		12,857		12,889		3		2
Residential mortgage	18,886		13,768		12,094		12,100		11,817		37		60
Home equity	11,106		9,375		8,809		8,919		8,878		18		25
RV and marine	4,998		4,447		4,193		4,181		4,020		12		24
Other consumer	1,458		1,047		973		1,032		1,049		39		39
Total consumer	49,657		41,430		38,734		39,089		38,653		20		28
Total loans and leases	109,931		87,437		80,261		81,116		80,542		26		36
Allowance for loan and lease losses	(2,219)		(1,828)		(1,809)		(1,804)		(1,720)		(21)		(29)
Net loans and leases	107,712		85,609		78,452		79,312		78,822		26		37
Total earning assets	159,411		127,421		114,105		112,222		110,665		25		44
Cash and due from banks	1,535		1,106		1,080		1,113		1,173		39		31
Goodwill and other intangible assets	5,578		3,055		2,176		2,185		2,195		83		154
All other assets	9,528		8,076		7,443		7,279		7,216		18		32
Total assets	$	173,833	$	137,830	$	122,995	$	120,995	$	119,529	26	%	45	%
Liabilities and shareholders’ equity
Interest-bearing deposits:
Demand deposits - interest-bearing	$	35,690	$	29,729	$	26,812	$	25,094	$	23,865	20	%	50	%
Money market deposits	33,281		28,124		26,247		26,144		26,200		18		27
Savings and other domestic deposits	20,931		15,190		12,277		11,468		11,157		38		88
Core certificates of deposit (3)	3,319		1,832		1,384		1,479		2,035		81		63

Other domestic deposits of $250,000 or more	582		259		115		139		175		125		233
Negotiable CDS, brokered and other deposits	3,905		2,986		3,355		4,100		4,182		31		(7)

Total interest-bearing deposits	97,708		78,120		70,190		68,424		67,614		25		45
Short-term borrowings	317		241		208		239		162		32		96
Long-term debt	7,587		6,887		7,766		8,799		9,318		10		(19)
Total interest-bearing liabilities	105,612		85,248		78,164		77,462		77,094		24		37
Demand deposits - noninterest-bearing	44,595		34,558		29,095		28,140		27,435		29		63
All other liabilities	3,823		2,608		2,412		2,452		2,322		47		65
Total Huntington Bancshares Inc shareholders’ equity	19,783		15,410		13,324		12,941		12,678		28		56
Non-controlling interest	20		6		—		—		—		233		100
Total equity	19,803		15,416		13,324		12,941		12,678		28		56
Total liabilities and shareholders’ equity	$	173,833	$	137,830	$	122,995	$	120,995	$	119,529	26	%	45	%

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

(2)Includes nonaccrual loans and leases.

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

Huntington Bancshares Incorporated

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

(Unaudited)


	Quarterly Interest Income / Expense
	September 30,		June 30,		March 31,		December 31,		September 30,
(dollar amounts in millions)	2021		2021		2021		2020		2020
Assets
Interest-bearing deposits at Federal Reserve Bank	$	4	$	2	$	2	$	2	$	1
Interest-bearing deposits in banks	1		—		—		—		—
Securities:
Trading account securities	—		1		—		1		—
Available-for-sale securities:
Taxable	68		67		49		46		50
Tax-exempt	18		17		17		17		18
Total available-for-sale securities	86		84		66		63		68
Held-to-maturity securities - taxable	47		35		42		47		52



Other securities	2		2		2		2		1
Total securities	135		122		110		113		121
Loans held for sale	13		9		9		9		9
Loans and leases:
Commercial:
Commercial and industrial	419		319		315		294		294
Commercial real estate:
Construction	17		12		9		9		10
Commercial	105		60		40		41		41
Commercial real estate	122		72		49		50		51
Lease financing	61		36		28		30		31
Total commercial	602		427		392		374		376
Consumer:
Automobile	121		115		116		125		128
Residential mortgage	139		104		95		99		101
Home equity	113		89		80		85		84
RV and marine	55		46		44		47		47
Other consumer	29		27		27		29		30
Total consumer	457		381		362		385		390
Total loans and leases	1,059		808		754		759		766
Total earning assets	$	1,212	$	941	$	875	$	883	$	897

Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	$	3	$	4	$	2	$	2	$	3
Money market deposits	7		4		4		7		18
Savings and other domestic deposits	1		2		1		1		2
Core certificates of deposit (3)	(2)		1		2		2		10

Other domestic deposits of $250,000 or more	1		—		—		1		(4)
Negotiable CDS, brokered and other deposits	1		1		2		2		2

Total interest-bearing deposits	11		12		11		15		31
Short-term borrowings	—		—		—		—		—
Long-term debt	34		85		(114)		38		44
Total interest bearing liabilities	45		97		(103)		53		75
Net interest income	$	1,167	$	844	$	978	$	830	$	822

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

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

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

Huntington Bancshares Incorporated

Consolidated Quarterly Net Interest Margin - Yield

(Unaudited)


	Quarterly Average Rates
	September 30,		June 30,		March 31,		December 31,		September 30,
Fully-taxable equivalent basis (1)	2021		2021		2021		2020		2020
Assets
Interest-bearing deposits at Federal Reserve Bank	0.17	%	0.11	%	0.10	%	0.10	%	0.10	%
Interest-bearing deposits in banks	0.04		0.01		0.08		0.12		0.13
Securities:
Trading account securities	2.98		2.96		3.64		3.65		3.18
Available-for-sale securities:
Taxable	1.34		1.34		1.32		1.53		1.89
Tax-exempt	2.37		2.42		2.52		2.59		2.71
Total available-for-sale securities	1.48		1.47		1.50		1.72		2.06
Held-to-maturity securities - taxable	1.58		1.94		2.02		2.11		2.28



Other securities	1.43		1.72		1.66		1.85		1.23
Total securities	1.52		1.59		1.67		1.87		2.13
Loans held for sale	3.23		2.79		2.64		2.96		2.82
Loans and leases: (3)
Commercial:
Commercial and industrial	4.04		3.70		3.91		3.53		3.55
Commercial real estate:
Construction	3.68		3.57		3.41		3.36		3.40
Commercial	3.17		3.06		2.64		2.62		2.63
Commercial real estate	3.23		3.13		2.75		2.73		2.75
Lease financing	4.84		5.00		5.18		5.08		5.52
Total commercial	3.91		3.67		3.78		3.48		3.52
Consumer:
Automobile	3.62		3.62		3.71		3.88		3.93
Residential mortgage	2.95		3.04		3.13		3.27		3.41
Home equity	4.03		3.79		3.71		3.76		3.79
RV and marine	4.33		4.13		4.30		4.53		4.60
Other consumer	7.98		10.17		11.17		11.12		11.23
Total consumer	3.65		3.69		3.78		3.93		4.00
Total loans and leases	3.80		3.68		3.78		3.70		3.75
Total earning assets	3.02		2.96		3.11		3.13		3.22
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	0.04		0.04		0.04		0.04		0.05
Money market deposits	0.08		0.06		0.06		0.10		0.28
Savings and other domestic deposits	0.03		0.04		0.04		0.05		0.06
Core certificates of deposit (4)	(0.23)		0.19		0.51		0.56		1.03

Other domestic deposits of $250,000 or more	0.21		0.26		0.22		0.51		0.92
Negotiable CDS, brokered and other deposits	0.15		0.16		0.18		0.19		0.19

Total interest-bearing deposits	0.05		0.06		0.06		0.08		0.18
Short-term borrowings	0.14		0.47		0.19		0.26		0.30
Long-term debt	1.81		4.97		(5.88)		1.72		1.87
Total interest-bearing liabilities	0.17		0.45		(0.53)		0.27		0.39

Net interest rate spread	2.85		2.51		3.64		2.86		2.83
Impact of noninterest-bearing funds on margin	0.05		0.15		(0.16)		0.08		0.13
Net interest margin	2.90	%	2.66	%	3.48	%	2.94	%	2.96	%


Commercial Loan Derivative Impact
(Unaudited)
	Average Rates
	2021		2021		2021		2020		2020
Fully-taxable equivalent basis (1)	Third		Second		First		Fourth		Third
Commercial loans (2)(3)	3.65	%	3.27	%	3.22	%	2.92	%	3.01	%
Impact of commercial loan derivatives	0.26		0.40		0.56		0.56		0.51
Total commercial - as reported	3.91	%	3.67	%	3.78	%	3.48	%	3.52	%
Average 1 Month LIBOR	0.09	%	0.10	%	0.12	%	0.15	%	0.16	%

(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 and leases.

(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)	September 30,		June 30,		March 31,		December 31,		September 30,
	2021		2021		2021		2020		2020
Interest income	$	1,205	$	935	$	869	$	878	$	892
Interest expense	45		97		(103)		53		75
Net interest income	1,160		838		972		825		817
Provision for credit losses	(62)		211		(60)		103		177
Net interest income after provision for credit losses	1,222		627		1,032		722		640
Mortgage banking income	81		67		100		90		122
Service charges on deposit accounts	114		88		69		78		76
Card and payment processing income	96		80		65		65		66
Trust and investment management services	61		56		52		49		48
Leasing revenue	42		12		4		6		3
Capital markets fees	40		35		29		34		27
Insurance income	25		25		27		25		24
Bank owned life insurance income	15		16		16		14		17
Gain on sale of loans	2		3		3		13		13
Net gains (losses) on sales of securities	—		10		—		—		—
Other noninterest income	59		52		30		35		34
Total noninterest income	535		444		395		409		430
Personnel costs	643		592		468		426		453
Outside data processing and other services	304		162		115		111		98
Equipment	79		55		46		49		44
Net occupancy	95		72		42		39		40
Lease financing equipment depreciation	19		5		—		—		—
Professional services	26		48		17		21		12
Amortization of intangibles	13		11		10		10		10
Marketing	25		15		14		15		9
Deposit and other insurance expense	17		8		8		8		6
Other noninterest expense	68		104		73		77		40
Total noninterest expense	1,289		1,072		793		756		712
Income (loss) before income taxes	468		(1)		634		375		358
Provision for income taxes	90		14		102		59		55
Income (loss) after income taxes	378		(15)		532		316		303
Income attributable to non-controlling interest	1		—		—		—		—
Net income (loss) attributable to Huntington Bancshares Inc	377		(15)		532		316		303
Dividends on preferred shares	29		43		31		35		28
Impact of preferred stock redemption	15		—		—		—		—
Net income (loss) applicable to common shares	$	333	$	(58)	$	501	$	281	$	275

Average common shares - basic	1,463		1,125		1,018		1,017		1,017
Average common shares - diluted	1,487		1,125		1,041		1,036		1,031

Per common share
Net income (loss) - basic	$	0.23	$	(0.05)	$	0.49	$	0.28	$	0.27
Net income (loss) - diluted	0.22		(0.05)		0.48		0.27		0.27
Cash dividends declared	0.15		0.15		0.15		0.15		0.15

Revenue - fully-taxable equivalent (FTE)
Net interest income	$	1,160	$	838	$	972	$	825	$	817
FTE adjustment	7		6		6		5		5
Net interest income (1)	1,167		844		978		830		822
Noninterest income	535		444		395		409		430
Total revenue (1)	$	1,702	$	1,288	$	1,373	$	1,239	$	1,252

(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
	September 30,			June 30,			March 31,			December 31,			September 30,			Percent Changes vs.
(dollar amounts in millions)	2021			2021			2021			2020			2020			2Q21		3Q20
Net origination and secondary marketing income	$	80		$	70		$	94		$	92		$	118		14	%	(32)	%
Net mortgage servicing income
Loan servicing income	21			17			17			16			15			24		40
Amortization of capitalized servicing	(21)			(20)			(20)			(17)			(15)			(5)		(40)
Operating (expense) income	—			(3)			(3)			(1)			—			100		—
MSR valuation adjustment (1)	1			(24)			51			4			3			104		(67)
Gains (losses) due to MSR hedging	(4)			22			(46)			(9)			(1)			(118)		(300)
Net MSR risk management	(3)			(2)			5			(5)			2			(50)		(250)
Total net mortgage servicing (expense) income	$	(3)		$	(5)		$	2		$	(6)		$	2		40	%	(250)	%
All other	4			2			4			4			2			100		100
Mortgage banking income	$	81		$	67		$	100		$	90		$	122		21	%	(34)	%

Mortgage origination volume	$	4,467		$	4,007		$	4,042		$	3,741		$	3,811		11	%	17	%
Mortgage origination volume for sale	2,514			2,265			2,669			2,444			2,568			11		(2)

Third party mortgage loans serviced (2)	30,554			30,398			23,585			23,471			23,334			1		31
Mortgage servicing rights (2)	338			327			274			210			191			3		77
MSR % of investor servicing portfolio (2)	1.11		%	1.08		%	1.16		%	0.89		%	0.82		%	3	%	35	%

(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
	September 30,			June 30,			March 31,			December 31,			September 30,
(dollar amounts in millions)	2021			2021			2021			2020			2020
Allowance for loan and lease losses, beginning of period	$	2,218		$	1,703		$	1,814		$	1,796		$	1,702

Loan and lease charge-offs	(106)			(102)			(95)			(140)			(141)
Recoveries of loans and leases previously charged off	51			40			31			28			28
Net loan and lease charge-offs	(55)			(62)			(64)			(112)			(113)
Provision for loan and lease losses	(56)			145			(47)			130			207
Allowance on loans and leases purchased with credit deterioration	—			432			—			—			—
Allowance of assets sold or transferred to loans held for sale	—			—			—			—			—
Allowance for loan and lease losses, end of period	2,107			2,218			1,703			1,814			1,796
Allowance for unfunded lending commitments, beginning of period	104			38			52			82			119

Provision for (reduction in) unfunded lending commitments	(6)			66			(13)			(27)			(30)

Unfunded lending commitment losses	—			—			(1)			(3)			(7)
Allowance for unfunded lending commitments, end of period	98			104			38			52			82
Total allowance for credit losses, end of period	$	2,205		$	2,322		$	1,741		$	1,866		$	1,878
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases	1.91		%	1.98		%	2.12		%	2.22		%	2.21		%
Nonaccrual loans and leases (NALs)	245			227			330			341			316
Nonperforming assets (NPAs)	236			219			313			323			298
Total allowance for credit losses (ACL) as % of:
Total loans and leases	1.99		%	2.08		%	2.17		%	2.29		%	2.31		%
Nonaccrual loans and leases (NALs)	256			238			338			351			330
Nonperforming assets (NPAs)	247			229			320			332			311

Huntington Bancshares Incorporated

Quarterly Net Charge-Off Analysis

(Unaudited)


	Three Months Ended
	September 30,			June 30,			March 31,			December 31,			September 30,
(dollar amounts in millions)	2021			2021			2021			2020			2020
Net charge-offs (recoveries) by loan and lease type:
Commercial:
Commercial and industrial	$	28		$	37		$	28		$	54		$	70
Commercial real estate:
Construction	(1)			—			—			—			(1)
Commercial	8			17			(3)			32			13
Commercial real estate	7			17			(3)			32			12
Lease financing	12			5			24			4			7
Total commercial	47			59			49			90			89
Consumer:
Automobile	(4)			(4)			2			6			10
Residential mortgage	—			—			—			1			1
Home equity	(3)			(1)			—			1			—
RV and marine	—			—			3			2			4
Other consumer	15			8			10			12			9
Total consumer	8			3			15			22			24
Total net charge-offs	$	55		$	62		$	64		$	112		$	113


	Three Months Ended
	September 30,			June 30,			March 31,			December 31,			September 30,
	2021			2021			2021			2020			2020
Net charge-offs (recoveries) - annualized percentages:
Commercial:
Commercial and industrial	0.28		%	0.43		%	0.35		%	0.65		%	0.88		%
Commercial real estate:
Construction	(0.14)			(0.04)			(0.04)			(0.04)			(0.25)
Commercial	0.26			0.81			(0.17)			2.14			0.80
Commercial real estate	0.21			0.69			(0.15)			1.81			0.63
Lease financing	0.87			0.93			4.32			0.86			1.10
Total commercial	0.31			0.51			0.47			0.86			0.85
Consumer:
Automobile	(0.10)			(0.13)			0.05			0.21			0.31
Residential mortgage	—			—			0.01			0.05			0.03
Home equity	(0.08)			(0.08)			0.02			0.01			(0.02)
RV and marine	(0.01)			0.02			0.29			0.21			0.38
Other consumer	3.97			3.13			3.99			4.35			3.55
Total consumer	0.07			0.02			0.16			0.22			0.24
Net charge-offs as a % of average loans	0.20		%	0.28		%	0.32		%	0.55		%	0.56		%

Huntington Bancshares Incorporated

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

(Unaudited)


	September 30,			June 30,			March 31,			December 31,			September 30,
(dollar amounts in millions)	2021			2021			2021			2020			2020
Nonaccrual loans and leases (NALs):
Commercial and industrial	$	494		$	591		$	326		$	349		$	378
Commercial real estate	103			83			8			15			16
Lease financing	60			74			17			4			10
Automobile	3			3			3			4			5
Residential mortgage	108			130			90			88			88
Home equity	87			91			71			70			71
RV and marine	6			5			1			2			1
Other consumer	—			—			—			—			—
Total nonaccrual loans and leases	861			977			516			532			569
Other real estate, net:
Residential	6			5			2			4			4
Commercial	1			2			—			—			1
Total other real estate, net	7			7			2			4			5
Other NPAs (2)	25			30			26			27			28
Total nonperforming assets	$	893		$	1,014		$	544		$	563		$	602

Nonaccrual loans and leases as a % of total loans and leases	0.78		%	0.87		%	0.64		%	0.65		%	0.70		%
NPA ratio (3)	0.81			0.91			0.68			0.69			0.74
(NPA+90days)/(Loan+OREO) (4)	0.97			1.04			0.87			0.90			0.96


	Three Months Ended
	September 30,		June 30,		March 31,		December 31,		September 30,
(dollar amounts in millions)	2021		2021		2021		2020		2020
Nonperforming assets, beginning of period	$	1,014	$	544	$	563	$	602	$	713
New nonperforming assets	195		116		129		248		190
Acquired NPAs	—		629		—		—		—
Transfer to OREO	—		—		—		—		—
Returns to accruing status	(125)		(46)		(33)		(108)		(47)
Charge-offs	(51)		(77)		(52)		(73)		(102)
Payments	(128)		(81)		(55)		(82)		(77)
Sales	(12)		(71)		(8)		(24)		(75)

Nonperforming assets, end of period	$	893	$	1,014	$	544	$	563	$	602

(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)


	September 30,			June 30,			March 31,			December 31,			September 30,
(dollar amounts in millions)	2021			2021			2021			2020			2020
Accruing loans and leases past due 90+ days:
Commercial and industrial	$	6		$	1		$	—		$	—		$	—
Commercial real estate	—			—			—			—			—
Lease financing	12			14			8			10			10
Automobile	5			4			5			9			8
Residential mortgage (excluding loans guaranteed by the U.S. Government)	16			17			18			30			18
Home equity	10			9			10			14			11
RV and marine	2			1			1			3			2
Other consumer	2			2			2			3			2
Total, excl. loans guaranteed by the U.S. Government	53			48			44			69			51
Add: loans guaranteed by U.S. Government	122			100			110			102			124
Total accruing loans and leases past due 90+ days, including loans guaranteed by the U.S. Government	$	175		$	148		$	154		$	171		$	175

Ratios:
Excluding loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.05		%	0.04		%	0.05		%	0.08		%	0.06		%
Guaranteed by U.S. Government, as a percent of total loans and leases	0.11			0.09			0.14			0.13			0.15
Including loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.16			0.13			0.19			0.21			0.22

Accruing troubled debt restructured loans:
Commercial and industrial	$	113		$	130		$	127		$	193		$	189
Commercial real estate	25			26			32			33			34
Lease financing	—			—			—			—			—
Automobile	45			48			51			50			53
Residential mortgage	245			247			249			248			256
Home equity	162			172			179			187			199
RV and marine	7			7			7			6			6
Other consumer	7			8			8			9			10
Total accruing troubled debt restructured loans	$	604		$	638		$	653		$	726		$	747

Nonaccruing troubled debt restructured loans:
Commercial and industrial	$	78		$	92		$	101		$	95		$	146
Commercial real estate	1			2			3			3			3
Lease financing	—			—			—			—			—
Automobile	2			2			2			2			2
Residential mortgage	48			51			51			51			48
Home equity	25			27			30			30			29
RV and marine	1			1			1			1			1
Other consumer	—			—			—			—			—
Total nonaccruing troubled debt restructured loans	$	155		$	175		$	188		$	182		$	229

Huntington Bancshares Incorporated

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

(Unaudited)


	September 30,			June 30,			March 31,			December 31,			September 30,
(dollar amounts in millions)	2021			2021			2021			2020			2020
Common equity tier 1 risk-based capital ratio: (1)
Total shareholders’ equity	$	19,479		$	20,511		$	13,600		$	12,992		$	12,917
Regulatory capital adjustments:
CECL transitional amount (2)	440			459			422			453			456
Shareholders’ preferred equity	(2,281)			(2,866)			(2,680)			(2,196)			(2,195)
Accumulated other comprehensive income (loss) offset	125			19			56			(192)			(257)
Goodwill and other intangibles, net of related taxes	(5,477)			(5,479)			(2,095)			(2,107)			(2,118)
Deferred tax assets that arise from tax loss and credit carryforwards	(36)			(48)			(63)			(63)			(59)
Common equity tier 1 capital	12,250			12,596			9,240			8,887			8,744
Additional tier 1 capital
Shareholders’ preferred equity	2,281			2,866			2,680			2,196			2,195

Other	—			—			—			—			—
Tier 1 capital	14,531			15,462			11,920			11,083			10,939
Long-term debt and other tier 2 qualifying instruments	1,552			1,062			610			660			677
Qualifying allowance for loan and lease losses	1,290			1,345			1,119			1,113			1,107
Tier 2 capital	2,842			2,407			1,729			1,773			1,784
Total risk-based capital	$	17,373		$	17,869		$	13,649		$	12,856		$	12,723
Risk-weighted assets (RWA)(1)	$	128,023		$	126,241		$	89,494		$	88,878		$	88,417
Common equity tier 1 risk-based capital ratio (1)	9.57		%	9.98		%	10.32		%	10.00		%	9.89		%
Other regulatory capital data:
Tier 1 leverage ratio (1)	8.62			11.65			9.85			9.32			9.31
Tier 1 risk-based capital ratio (1)	11.35			12.25			13.32			12.47			12.37
Total risk-based capital ratio (1)	13.57			14.15			15.25			14.46			14.39
Non-regulatory capital data:
Tangible common equity / RWA ratio (1)	9.15			9.63			9.82			9.74			9.70

(1)September 30, 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, excluding the allowance established at acquisition for purchased credit deteriorated loans.

Huntington Bancshares Incorporated

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

(Unaudited)

Quarterly common stock summary


	September 30,		June 30,		March 31,		December 31,		September 30,
	2021		2021		2021		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	1,463		1,125		1,018		1,017		1,017
Average - diluted	1,487		1,125		1,041		1,036		1,031
Ending	1,446		1,477		1,018		1,017		1,017
Tangible book value per common share (1)	$	8.10	$	8.23	$	8.64	$	8.51	$	8.43
Common share repurchases (in millions)
Number of shares repurchased	33		—		—		—		—

Non-regulatory capital


	September 30,			June 30,			March 31,			December 31,			September 30,
(dollar amounts in millions)	2021			2021			2021			2020			2020
Calculation of tangible equity / asset ratio:
Total shareholders’ equity	$	19,499		$	20,531		$	13,600		$	12,993		$	12,917
Less: goodwill	(5,316)			(5,316)			(1,990)			(1,990)			(1,990)
Less: other intangible assets	(255)			(269)			(181)			(191)			(201)
Add: related deferred tax liability (1)	54			56			38			40			42
Total tangible equity	13,982			15,002			11,467			10,852			10,768
Less: preferred equity	(2,267)			(2,851)			(2,676)			(2,191)			(2,191)
Total tangible common equity	$	11,715		$	12,151		$	8,791		$	8,661		$	8,577
Total assets	$	173,878		$	175,172		$	125,768		$	123,038		$	120,116
Less: goodwill	(5,316)			(5,316)			(1,990)			(1,990)			(1,990)
Less: other intangible assets	(255)			(269)			(181)			(191)			(201)
Add: related deferred tax liability (1)	54			56			38			40			42
Total tangible assets	$	168,361		$	169,643		$	123,635		$	120,897		$	117,967
Tangible equity / tangible asset ratio	8.30		%	8.84		%	9.28		%	8.98		%	9.13		%
Tangible common equity / tangible asset ratio	6.96			7.16			7.11			7.16			7.27
Other data:
Number of employees (Average full-time equivalent)	20,908			17,018			15,449			15,477			15,680
Number of domestic full-service branches (2)	1,236			1,239			814			839			839
ATM Count	2,317			2,340			1,314			1,322			1,330

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

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

Huntington Bancshares Incorporated

Consolidated Year To Date Average Balance Sheets

(Unaudited)


	YTD Average Balances (1)
	Nine Months Ended September 30,				Change
(dollar amounts in millions)	2021		2020		Amount		Percent
Assets
Interest-bearing deposits at Federal Reserve Bank	$	8,432	$	3,326	$	5,106	154	%
Interest-bearing deposits in banks	322		166		156		94
Securities:
Trading account securities	50		61		(11)		(18)
Available-for-sale securities:
Taxable	18,376		11,171		7,205		64
Tax-exempt	2,868		2,743		125		5
Total available-for-sale securities	21,244		13,914		7,330		53


Held-to-maturity securities - taxable	9,185		9,384		(199)		(2)





Other securities	524		450		74		16
Total securities	31,003		23,809		14,524		30
Loans held for sale	1,404		1,055		349		33
Loans and leases: (2)
Commercial:
Commercial and industrial	35,657		31,328		4,329		14
Commercial real estate:
Construction	1,392		1,180		212		18
Commercial	8,953		5,833		3,120		53
Commercial real estate	10,345		7,013		3,332		48
Lease financing	3,336		2,276		1,060		47
Total commercial	49,338		40,617		8,721		21
Consumer:
Automobile	12,891		12,832		59		—
Residential mortgage	14,941		11,558		3,383		29
Home equity	9,771		8,933		838		9
RV and marine	4,549		3,773		776		21
Other consumer	1,161		1,105		56		5
Total consumer	43,313		38,201		5,112		13
Total loans and leases	92,651		78,818		13,833		18
Allowance for loan and lease losses	(1,953)		(1,506)		(447)		(30)
Net loans and leases	90,698		77,312		13,386		17
Total earning assets	133,812		107,174		26,638		25
Cash and due from banks	1,242		1,128		114		10
Goodwill and other intangible assets	3,615		2,206		1,409		64
All other assets	8,356		6,966		1,390		20
Total assets	$	145,072	$	115,968	29,104		25	%
Liabilities and shareholders’ equity
Interest-bearing deposits:
Demand deposits - interest-bearing	$	30,776	$	22,985	$	7,791	34	%
Money market deposits	29,243		25,544		3,699		14
Savings and other domestic deposits	16,165		10,468		5,697		54
Core certificates of deposit (3)	2,186		2,990		(804)		(27)

Other domestic deposits of $250,000 or more	320		242		78		32
Negotiable CDS, brokered and other deposits	3,417		3,728		(311)		(8)

Total interest-bearing deposits	82,107		65,957		16,150		24
Short-term borrowings	256		1,452		(1,196)		(82)
Long-term debt	7,413		9,730		(2,317)		(24)
Total interest-bearing liabilities	89,776		77,139		12,637		16
Demand deposits - noninterest-bearing	36,139		24,394		11,745		48
All other liabilities	2,952		2,347		605		26
Total Huntington Bancshares Inc shareholders’ equity	16,196		12,088		4,108		34
Non-controlling interest	9		—		9		100
Total equity	$	16,205	$	12,088	$	4,117	34
Total liabilities and shareholders’ equity	$	145,072	$	115,968	$	29,104	25	%

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

(2)Includes nonaccrual loans and leases.

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

Huntington Bancshares Incorporated

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

(Unaudited)


	YTD Interest Income / Expense
	Nine Months Ended September 30,
(dollar amounts in millions)	2021		2020
Assets
Interest-bearing deposits at Federal Reserve Bank	$	8	$	4
Interest-bearing deposits in banks	1		1
Securities:
Trading account securities	1		1
Available-for-sale securities:
Taxable	184		191
Tax-exempt	52		60
Total available-for-sale securities	236		251
Held-to-maturity securities - taxable	124		169



Other securities	6		4
Total securities	367		425
Loans held for sale	31		25
Loans and leases:
Commercial:
Commercial and industrial	1,053		872
Commercial real estate:
Construction	38		35
Commercial	205		140
Commercial real estate	243		175
Lease financing	125		94
Total commercial	1,421		1,141
Consumer:
Automobile	352		379
Residential mortgage	338		307
Home equity	282		273
RV and marine	145		134
Other consumer	83		96
Total consumer	1,200		1,189
Total loans and leases	2,621		2,330
Total earning assets	$	3,028	$	2,785
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	$	9	$	30
Money market deposits	15		93
Savings and other domestic deposits	4		9
Core certificates of deposit (3)	1		36

Other domestic deposits of $250,000 or more	1		2
Negotiable CDS, brokered and other deposits	4		13

Total interest-bearing deposits	34		183
Short-term borrowings	—		13
Long-term debt	5		174
Total interest-bearing liabilities	39		370

Net interest income	$	2,989	$	2,415

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

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

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

Huntington Bancshares Incorporated

Consolidated Year To Date Net Interest Margin - Yield

(Unaudited)


	YTD Average Rates
	Nine Months Ended September 30,
Fully-taxable equivalent basis (1)	2021		2020
Assets
Interest-bearing deposits in Federal Reserve Bank	0.13	%	0.17	%
Interest-bearing deposits in banks	0.04		0.62
Securities:
Trading account securities	3.21		2.94
Available-for-sale securities:
Taxable	1.33		2.28
Tax-exempt	2.43		2.92
Total available-for-sale securities	1.48		2.41
Held-to-maturity securities - taxable	1.81		2.39



Other securities	1.57		1.28
Total securities	1.58		2.38
Loans held for sale	2.90		3.11
Loans and leases: (3)
Commercial:
Commercial and industrial	3.90		3.67
Commercial real estate:
Construction	3.58		3.93
Commercial	3.02		3.17
Commercial real estate	3.09		3.29
Lease financing	4.96		5.44
Total commercial	3.80		3.71
Consumer:
Automobile	3.65		3.94
Residential mortgage	3.02		3.54
Home equity	3.86		4.09
RV and marine	4.26		4.73
Other consumer	9.52		11.60
Total consumer	3.70		4.15
Total loans and leases	3.75		3.92
Total earning assets	3.03	%	3.47	%
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	0.04	%	0.17	%
Money market deposits	0.07		0.49
Savings and other domestic deposits	0.03		0.11
Core certificates of deposit (4)	0.05		1.59

Other domestic deposits of $250,000 or more	0.23		1.31
Negotiable CDS, brokered and other deposits	0.16		0.45

Total interest-bearing deposits	0.05		0.37
Short-term borrowings	0.26		1.23
Long-term debt	0.10		2.39
Total interest-bearing liabilities	0.06		0.64

Net interest rate spread	2.97		2.83
Impact of noninterest-bearing funds on margin	0.02		0.18
Net interest margin	2.99	%	3.01	%


Commercial Loan Derivative Impact
(Unaudited)
	YTD Average Rates
	Nine Months Ended September 30,
Fully-taxable equivalent basis (1)	2021		2020
Commercial loans (2)(3)	3.41	%	3.39	%
Impact of commercial loan derivatives	0.39		0.32
Total commercial - as reported	3.80	%	3.71	%
Average 1 Month LIBOR	0.10	%	0.65	%

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

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

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

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

Huntington Bancshares Incorporated

Selected Year To Date Income Statement Data

(Unaudited)


	Nine Months Ended September 30,				Change
(dollar amounts in millions, except per share data)	2021		2020		Amount		Percent
Interest income	$	3,009	$	2,769	$	240	9	%
Interest expense	39		370		(331)		(89)
Net interest income	2,970		2,399		571		24
Provision for credit losses	89		945		(856)		(91)
Net interest income after provision for credit losses	2,881		1,454		1,427		98
Mortgage banking income	248		277		(29)		(10)
Service charges on deposit accounts	271		223		48		22
Card and payment processing income	241		183		58		32
Trust and investment management services	169		140		29		21
Leasing revenue	58		14		44		314
Capital markets fees	104		91		13		14
Insurance income	77		72		5		7
Bank owned life insurance income	47		49		(2)		(4)
Gain on sale of loans	8		30		(22)		(73)
Net gains (losses) on sales of securities	10		(1)		11		1,100
Other noninterest income	141		104		37		36
Total noninterest income	1,374		1,182		192		16
Personnel costs	1,703		1,267		436		34
Outside data processing and other services	581		273		308		113
Equipment	180		132		48		36
Net occupancy	209		119		90		76
Lease financing equipment depreciation	24		1		23		2,300
Professional services	91		34		57		168
Amortization of intangibles	34		31		3		10
Marketing	54		23		31		135
Deposit and other insurance expense	33		24		9		38
Other noninterest expense	245		135		110		81
Total noninterest expense	3,154		2,039		1,115		55
Income before income taxes	1,101		597		504		84
Provision for income taxes	206		96		110		115
Income after income taxes	895		501		394		79
Income attributable to non-controlling interest	1		—		1		100
Net income attributable to Huntington Bancshares Inc	894		501		393		78
Dividends on preferred shares	103		65		38		58
Impact of preferred stock redemption	15		—		15		100
Net income applicable to common shares	$	776	$	436	$	340	78	%
Average common shares - basic	1,202		1,017		185		18
Average common shares - diluted	1,225		1,032		193		19
Per common share
Net income - basic	$	0.65	$	0.43	$	0.22	51	%
Net income - diluted	0.63		0.42		0.21		50
Cash dividends declared	0.45		0.45		—		—
Revenue - fully taxable equivalent (FTE)
Net interest income	$	2,970	$	2,399	$	571	24	%
FTE adjustment (1)	19		16		3		19
Net interest income	2,989		2,415		574		24
Noninterest income	1,374		1,182		192		16
Total revenue (1)	$	4,363	$	3,597	$	766	21	%

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

Huntington Bancshares Incorporated

Year To Date Mortgage Banking Noninterest Income

(Unaudited)


	Nine Months Ended September 30,						Change
(dollar amounts in millions)	2021			2020			Amount			Percent
Net origination and secondary marketing income	$	244		$	254		(10)			(4)	%
Net mortgage servicing income
Loan servicing income	55			45			10			22
Amortization of capitalized servicing	(61)			(36)			(25)			(69)
Operating (expense) income	(6)			9			(15)			(167)
MSR valuation adjustment (1)	28			(56)			84			150
(Losses) gains due to MSR hedging	(28)			62			(90)			(145)
Net MSR risk management	—			6			(6)			—
Total net mortgage servicing income	$	(6)		$	15		$	(21)		(140)	%
All other	10			8			2			25
Mortgage banking income	$	248		$	277		$	(29)		(10)	%

Mortgage origination volume	$	12,516		$	9,749		$	2,767		28	%
Mortgage origination volume for sale	7,448			6,245			1,203			19

Third party mortgage loans serviced (2)	30,554			23,334			7,220			31
Mortgage servicing rights (2)	338			191			147			77
MSR % of investor servicing portfolio	1.11		%	0.82		%	0.29		%	35	%

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

(2)At period end.

Huntington Bancshares Incorporated

Year To Date Credit Reserves Analysis

(Unaudited)


	Nine Months Ended September 30,
(dollar amounts in millions)	2021			2020
Allowance for loan and lease losses, beginning of period	$	1,814		$	783
Cumulative-effect of change in accounting principle for financial instruments - credit losses (ASU 2016-13)	$	—		$	391
Loan and lease charge-offs	(303)			(400)
Recoveries of loans and leases previously charged off	122			63
Net loan and lease charge-offs	(181)			(337)
Provision for loan and lease losses	42			959
Allowance on loans and leases purchased with credit deterioration	432			—
Allowance of assets sold or transferred to loans held for sale	—			—
Allowance for loan and lease losses, end of period	2,107			1,796
Allowance for unfunded lending commitments, beginning of period	$	52		$	104
Cumulative-effect of change in accounting principle for financial instruments - credit losses (ASU 2016-13)	—			2
Provision for unfunded lending commitments	47			(14)
Allowance for acquired unfunded loan commitments	—			—
Unfunded lending commitment losses	(1)			(10)
Allowance for unfunded lending commitments, end of period	98			82
Total allowance for credit losses	$	2,205		$	1,878
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases	1.91		%	2.21		%
Nonaccrual loans and leases (NALs)	245			316
Nonperforming assets (NPAs)	236			298
Total allowance for credit losses (ACL) as % of:
Total loans and leases	1.99		%	2.31		%
Nonaccrual loans and leases (NALs)	256			330
Nonperforming assets (NPAs)	247			311

Huntington Bancshares Incorporated

Year To Date Net Charge-Off Analysis

(Unaudited)


	Nine Months Ended September 30,
(dollar amounts in millions)	2021			2020
Net charge-offs (recoveries) by loan and lease type:
Commercial:
Commercial and industrial	$	93		$	233
Commercial real estate:
Construction	(1)			—
Commercial	22			11
Commercial real estate	21			11
Lease financing	41			8
Total commercial	155			252
Consumer:
Automobile	(6)			27
Residential mortgage	—			2
Home equity	(4)			5
RV and marine	3			10
Other consumer	33			41
Total consumer	26			85
Total net charge-offs	$	181		$	337


	Nine Months Ended September 30,
	2021			2020
Net charge-offs (recoveries) - annualized percentages:
Commercial:
Commercial and industrial	0.35		%	1.00		%
Commercial real estate:
Construction	(0.08)			(0.06)
Commercial	0.32			0.25
Commercial real estate	0.27			0.20
Lease financing	1.64			0.43
Total commercial	0.42			0.83
Consumer:
Automobile	(0.06)			0.28
Residential mortgage	—			0.02
Home equity	(0.05)			0.09
RV and marine	0.09			0.34
Other consumer	3.72			4.99
Total consumer	0.08			0.30
Net charge-offs as a % of average loans	0.26		%	0.57		%

Huntington Bancshares Incorporated

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

(Unaudited)


	September 30,
(dollar amounts in millions)	2021			2020
Nonaccrual loans and leases (NALs):
Commercial and industrial	$	494		$	378
Commercial real estate	103			16
Lease financing	60			10
Automobile	3			5
Residential mortgage	108			88
Home equity	87			71
RV and marine	6			1
Other consumer	—			—
Total nonaccrual loans and leases	861			569
Other real estate, net:
Residential	6			4
Commercial	1			1
Total other real estate, net	7			5
Other NPAs (1)	25			28
Total nonperforming assets (3)	$	893		$	602

Nonaccrual loans and leases as a % of total loans and leases	0.78		%	0.70		%
NPA ratio (2)	0.81			0.74


	Nine Months Ended September 30,
(dollar amounts in millions)	2021		2020
Nonperforming assets, beginning of period	$	563	$	498
New nonperforming assets	440		743
Acquired NPAs	629		—
Transfer to OREO	—		—
Returns to accruing status	(204)		(90)
Charge-offs	(180)		(254)
Payments	(264)		(210)
Sales and held-for-sale transfers	(91)		(85)
Nonperforming assets, end of period (2)	$	893	$	602

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

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

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

Form: 8-K

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