January 21, 2022 - EX-99.2 - 8-K: Current report filing | Huntington Bancshares Incorporated (HBAN)

Exhibit 99.2

HUNTINGTON BANCSHARES INCORPORATED

Quarterly Financial Supplement

December 31, 2021

Table of Contents


Quarterly Key Statistics			1

Annual Key Statistics			2

Consolidated Balance Sheets			4

Loans and Leases Composition			5

Deposits Composition			6

Consolidated Quarterly Average Balance Sheets			7

Consolidated Quarterly Net Interest Margin - Interest Income / Expense			8

Consolidated Quarterly Net Interest Margin - Yield			9

Selected Quarterly Income Statement Data			10

Quarterly Mortgage Banking Income			11

Quarterly Credit Reserves Analysis			12

Quarterly Net Charge-Off Analysis			13

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

Quarterly Accruing Past Due Loans and Leases			15

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

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



















Consolidated Annual Average Balance Sheets			18

Consolidated Annual Net Interest Margin - Interest Income / Expense			19

Consolidated Annual Net Interest Margin - Yield			20

Selected Annual Income Statement Data			21

Annual Mortgage Banking Income			22

Annual Credit Reserves Analysis			23

Annual Net Charge-Off Analysis			24

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

Annual Accruing Past Due Loans and Leases			26

Notes:

The preparation of financial statement data in conformity with accounting principles generally accepted in the United States (GAAP) requires management to make estimates and assumptions that affect amounts reported. Actual results could differ from those estimates. Certain prior period amounts have been reclassified to conform to the current period’s presentation.

Fully-Taxable Equivalent Basis

Interest income, yields, and ratios on a FTE basis are considered non-GAAP financial measures. Management believes net interest income on a FTE basis provides a more accurate picture of the interest margin for comparison purposes. The FTE basis also allows management to assess the comparability of revenue arising from both taxable and tax-exempt sources. The FTE basis assumes a federal statutory tax rate of 21%.

Non-Regulatory Capital Ratios

In addition to capital ratios defined by banking regulators, the Company considers various other measures when evaluating capital utilization and adequacy, including:

•Tangible common equity to tangible assets, and

•Tangible common equity to risk-weighted assets using Basel III definition.

These non-regulatory capital ratios are viewed by management as useful additional methods of reflecting the level of capital available to withstand unexpected market conditions. Additionally, presentation of these ratios allows readers to compare the Company’s capitalization to other financial services companies. These ratios differ from capital ratios defined by banking regulators principally in that the numerator excludes preferred securities, the nature and extent of which varies among different financial services companies. These ratios are not defined in GAAP or federal banking regulations. As a result, these non-regulatory capital ratios disclosed by the Company may be considered non-GAAP financial measures.

Because there are no standardized definitions for these non-regulatory capital ratios, the Company’s calculation methods may differ from those used by other financial services companies. Also, there may be limits in the usefulness of these measures to investors. As a result, the Company encourages readers to consider the consolidated financial statements and other financial information contained in the related press release in their entirety, and not to rely on any single financial measure.

Huntington Bancshares Incorporated

Quarterly Key Statistics

(Unaudited)


	Three Months Ended
(dollar amounts in millions, except per share data)	December 31,			September 30,			December 31,			Percent Changes vs.
	2021			2021			2020			3Q21		4Q20
Net interest income (2)	$	1,138		$	1,167		$	830		(2)	%	37	%
FTE adjustment	(6)			(7)			(5)			14		(20)
Net interest income	1,132			1,160			825			(2)		37
Provision for credit losses	(64)			(62)			103			(3)		(162)
Noninterest income	515			535			409			(4)		26
Noninterest expense	1,221			1,289			756			(5)		62
Income before income taxes	490			468			375			5		31
Provision for income taxes	88			90			59			(2)		49
Income after income taxes	402			378			316			6		27
Income attributable to non-controlling interest	1			1			—			—		100
Net income attributable to Huntington Bancshares Inc	401			377			316			6		27
Dividends on preferred shares	28			29			35			(3)		(20)
Impact of preferred stock redemption	(4)			15			—			(127)		(100)
Net income applicable to common shares	$	377		$	333		$	281		13	%	34	%

Net income per common share - diluted	$	0.26		$	0.22		$	0.27		18	%	(4)	%
Cash dividends declared per common share	0.155			0.15			0.15			3		3
Tangible book value per common share at end of period	8.06			8.09			8.51			—		(5)
Number of common shares repurchased	10			33			—			(70)		100
Average common shares - basic	1,444			1,463			1,017			(1)		42
Average common shares - diluted	1,471			1,487			1,036			(1)		42
Ending common shares outstanding	1,438			1,446			1,017			(1)		41
Return on average assets	0.92		%	0.86		%	1.04		%
Return on average common shareholders’ equity	8.7			7.6			10.4
Return on average tangible common shareholders’ equity (1)	13.2			11.5			13.3
Net interest margin (2)	2.84			2.90			2.94
Efficiency ratio (3)	73.0			74.9			60.2
Effective tax rate	18.0			19.0			15.8
Average total assets	$	173,672		$	173,833		$	120,995		—		44
Average earning assets	159,056			159,411			112,222			—		42
Average loans and leases	109,852			109,931			81,116			—		35
Average loans and leases - linked quarter annualized growth rate	(0.3)		%	102.9		%	2.9		%
Average total deposits	$	142,303		$	142,303		$	96,564		—		47
Average core deposits (4)	138,008			137,816			92,325			—		49
Average core deposits - linked quarter annualized growth rate	0.6		%	103.7		%	7.2		%
Average shareholders’ equity	19,375			19,783			12,941			(2)		50
Average common total shareholders' equity	17,193			17,428			10,749			(1)		60
Average tangible common shareholders' equity	11,675			11,905			8,605			(2)		36
Total assets at end of period	174,064			173,878			123,038			—		41
Total shareholders’ equity at end of period	19,297			19,479			12,993			(1)		49

NCOs as a % of average loans and leases	0.12		%	0.20		%	0.55		%
NAL ratio	0.64			0.78			0.65
NPA ratio (5)	0.67			0.81			0.69
Allowance for loan and lease losses (ALLL) as a % of total loans and leases at the end of period	1.81			1.91			2.22
Allowance for credit losses (ACL) as a % of total loans and leases at the end of period	1.88			1.99			2.29
Common equity tier 1 risk-based capital ratio (6)	9.33			9.57			10.00
Tangible common equity / tangible asset ratio (7)	6.88			6.95			7.16

See Notes to the Quarterly Key Statistics.

Huntington Bancshares Incorporated

Annual Key Statistics

(Unaudited)


	Year Ended December 31,						Change
(dollar amounts in millions, except per share data)	2021			2020			Amount		Percent
Net interest income (2)	$	4,127		$	3,245		$	882	27	%
FTE adjustment	(25)			(21)			(4)		(19)
Net interest income	4,102			3,224			878		27
Provision for credit losses	25			1,048			(1,023)		(98)
Noninterest income	1,889			1,591			298		19
Noninterest expense	4,375			2,795			1,580		57
Income before income taxes	1,591			972			619		64
Provision for income taxes	294			155			139		90
Income after income taxes	1,297			817			480		59
Income attributable to non-controlling interest	2			—			2		100
Net Income attributable to Huntington Bancshares Inc	1,295			817			478		59
Dividends on preferred shares	131			100			31		31
Impact of preferred stock redemption	11			—			11		100
Net income applicable to common shares	$	1,153		$	717		$	436	61	%

Net income per common share - diluted	$	0.90		$	0.69		$	0.21	30	%
Cash dividends declared per common share	0.605			0.60			0.01		1

Average common shares - basic	1,262			1,017			245		24
Average common shares - diluted	1,287			1,033			254		25

Return on average assets	0.85		%	0.70		%
Return on average common shareholders’ equity	7.9			6.8
Return on average tangible common shareholders’ equity (1)	11.3			8.9
Net interest margin (2)	2.94			2.99
Efficiency ratio (3)	72.0			56.9
Effective tax rate	18.5			15.9

Average total assets	$	152,281		$	117,232		$	35,049	30
Average earning assets	140,175			108,443			31,732		29
Average loans and leases	96,987			79,395			17,592		22
Average total deposits	124,310			91,913			32,397		35
Average core deposits (4)	120,432			87,875			32,557		37
Average shareholders’ equity	16,997			12,303			4,694		38
Average common total shareholders' equity	14,569			10,619			3,950		37
Average tangible common shareholders' equity	10,509			8,462			2,047		24

NCOs as a % of average loans and leases	0.22		%	0.57		%
NAL ratio	0.64			0.65
NPA ratio (5)	0.67			0.69

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

Key Statistics Footnotes

(1)Net income applicable to common shares excluding expense for amortization of intangibles for the period divided by average tangible common shareholders’ equity. Average tangible common shareholders’ equity equals average total common shareholders’ equity less average intangible assets and goodwill. Expense for amortization of intangibles and average intangible assets are net of deferred tax liability, and calculated assuming a 21% tax rate.

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

(3)Noninterest expense less amortization of intangibles divided by the sum of FTE net interest income and noninterest income excluding securities gains (losses).

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

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

(6)December 31, 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


	December 31,		December 31,
(dollar amounts in millions)	2021		2020		Percent Changes
	(Unaudited)
Assets
Cash and due from banks	$	1,811	$	1,319	37	%
Interest-bearing deposits at Federal Reserve Bank	3,711		5,276		(30)
Interest-bearing deposits in banks	392		117		235
Trading account securities	46		62		(26)
Available-for-sale securities	28,460		16,485		73
Held-to-maturity securities	12,447		8,861		40


Other securities	648		418		55
Loans held for sale	1,676		1,275		31
Loans and leases (1)	111,920		81,608		37
Allowance for loan and lease losses	(2,030)		(1,814)		(12)
Net loans and leases	109,890		79,794		38
Bank owned life insurance	2,765		2,577		7
Premises and equipment	1,164		757		54
Goodwill	5,349		1,990		169
Servicing rights and other intangible assets	611		428		43
Other assets	5,094		3,679		38
Total assets	$	174,064	$	123,038	41	%

Liabilities and shareholders’ equity
Liabilities
Deposits (2)	$	143,263	$	98,948	45	%
Short-term borrowings	334		183		83
Long-term debt	7,108		8,352		(15)
Other liabilities	4,041		2,562		58
Total liabilities	154,746		110,045		41

Shareholders' equity
Preferred stock	2,167		2,191		(1)
Common stock	14		10		40
Capital surplus	15,222		8,781		73
Less treasury shares, at cost	(79)		(59)		(34)
Accumulated other comprehensive (loss) gain	(229)		192		(219)
Retained earnings	2,202		1,878		17
Total Huntington Bancshares Inc shareholders’ equity	19,297		12,993		49
Non-controlling interest	21		—		100
Total equity	19,318		12,993		49
Total liabilities and shareholders’ equity	$	174,064	$	123,038	41	%

Common shares authorized (par value of $0.01)	2,250,000,000		1,500,000,000
Common shares outstanding	1,437,742,172		1,017,196,776
Treasury shares outstanding	6,298,288		5,062,054
Preferred stock, authorized shares	6,617,808		6,617,808
Preferred shares outstanding	557,500		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)


	December 31,				September 30,				June 30,				March 31,				December 31,
(dollar amounts in millions)	2021				2021				2021				2021				2020
Ending Balances by Type:
Total loans
Commercial:
Commercial and industrial	$	41,688	37	%	$	40,452	36	%	$	41,900	38	%	$	32,297	40	%	$	33,151	40	%
Commercial real estate:
Construction	1,871		2		1,812		2		1,926		2		1,083		1		1,035		1
Commercial	13,090		12		12,882		12		12,848		11		6,096		8		6,164		8
Commercial real estate	14,961		14		14,694		14		14,774		13		7,179		9		7,199		9
Lease financing	5,000		4		4,991		5		5,027		4		2,167		3		2,222		3
Total commercial	61,649		55		60,137		55		61,701		55		41,643		52		42,572		52
Consumer:
Residential mortgage	19,256		17		18,922		17		18,729		17		12,092		15		12,141		15
Automobile	13,434		12		13,305		12		13,174		12		12,591		16		12,778		16
Home equity	10,550		9		10,919		10		11,317		10		8,727		11		8,894		11
RV and marine	5,058		5		5,052		4		4,960		4		4,218		5		4,190		5
Other consumer	1,973		2		2,232		2		2,024		2		959		1		1,033		1
Total consumer	50,271		45		50,430		45		50,204		45		38,587		48		39,036		48
Total loans and leases	$	111,920	100	%	$	110,567	100	%	$	111,905	100	%	$	80,230	100	%	$	81,608	100	%


	December 31,				September 30,				June 30,				March 31,				December 31,
(dollar amounts in millions)	2021				2021				2021				2021				2020
Ending Balances by Business Segment:
Consumer and Business Banking	$	33,368	30	%	$	35,276	32	%	$	36,798	33	%	$	26,658	33	%	$	27,230	33	%
Commercial Banking	49,372		44		46,988		43		46,559		41		27,318		34		27,374		34
Vehicle Finance	20,968		19		20,353		18		20,196		18		19,474		24		20,027		25
RBHPCG (Regional Banking and The Huntington Private Client Group)	8,012		7		7,743		7		7,394		7		6,587		8		6,809		8
Treasury / Other	200		—		207		—		958		1		193		1		168		—
Total loans and leases	$	111,920	100	%	$	110,567	100	%	$	111,905	100	%	$	80,230	100	%	$	81,608	100	%

Average Balances by Business Segment:
Consumer and Business Banking	$	33,798	31	%	$	35,807	33	%	$	28,948	33	%	$	27,069	34	%	$	27,483	34	%
Commercial Banking	47,281		43		46,180		42		31,896		37		26,694		33		26,727		33
Vehicle Finance	20,598		19		20,219		18		19,548		22		19,735		25		19,977		25
RBHPCG	7,842		7		7,527		7		6,840		8		6,568		8		6,751		8
Treasury / Other	333		—		198		—		205		—		195		—		178		—
Total loans and leases	$	109,852	100	%	$	109,931	100	%	$	87,437	100	%	$	80,261	100	%	$	81,116	100	%

Huntington Bancshares Incorporated

Deposits Composition

(Unaudited)


	December 31,				September 30,				June 30,				March 31,				December 31,
(dollar amounts in millions)	2021				2021				2021				2021				2020
Ending Balances by Type:
Demand deposits - noninterest-bearing	$	43,236	30	%	$	44,560	31	%	$	45,249	32	%	$	31,226	30	%	$	28,553	29	%
Demand deposits - interest-bearing	39,837		28		36,423		26		34,938		24		27,493		27		26,757		27
Money market deposits	32,522		23		32,662		23		33,616		24		26,268		26		26,248		27
Savings and other domestic deposits	21,088		15		20,773		15		20,876		15		13,115		13		11,722		12
Core certificates of deposit (1)	2,740		2		3,080		2		3,537		2		1,329		1		1,425		1
Total core deposits	139,423		98		137,498		97		138,216		97		99,431		97		94,705		96
Other domestic deposits of $250,000 or more	359		—		521		—		675		—		105		—		131		—
Negotiable CDS, brokered and other deposits	3,481		2		3,879		3		3,914		3		2,648		3		4,112		4

Total deposits	$	143,263	100	%	$	141,898	100	%	$	142,805	100	%	$	102,184	100	%	$	98,948	100	%
Total core deposits:
Commercial	$	61,521	44	%	$	61,210	45	%	$	61,055	44	%	$	46,539	47	%	$	44,698	47	%
Consumer	77,902		56		76,288		55		77,161		56		52,892		53		50,007		53
Total core deposits	$	139,423	100	%	$	137,498	100	%	$	138,216	100	%	$	99,431	100	%	$	94,705	100	%


	December 31,				September 30,				June 30,				March 31,				December 31,
(dollar amounts in millions)	2021				2021				2021				2021				2020
Ending Balances by Business Segment:
Consumer and Business Banking	$	95,352	67	%	$	94,439	67	%	$	95,693	67	%	$	65,437	64	%	$	60,910	61	%
Commercial Banking	31,845		22		32,531		23		32,624		23		25,420		25		24,766		25
Vehicle Finance	1,401		1		1,437		1		1,155		1		849		1		722		1
RBHPCG	10,162		7		9,025		6		8,416		6		7,163		7		7,635		8
Treasury / Other (2)	4,503		3		4,466		3		4,917		3		3,315		3		4,915		5
Total deposits	$	143,263	100	%	$	141,898	100	%	$	142,805	100	%	$	102,184	100	%	$	98,948	100	%

Average Balances by Business Segment:
Consumer and Business Banking	$	94,593	67	%	$	94,719	67	%	$	73,011	65	%	$	62,333	63	%	$	60,163	62	%
Commercial Banking	31,950		22		32,867		23		27,372		24		25,100		25		24,051		25
Vehicle Finance	1,501		1		1,328		1		1,035		1		768		1		760		1
RBHPCG	9,505		7		8,587		6		7,564		7		7,059		7		6,850		7
Treasury / Other (2)	4,754		3		4,802		3		3,696		3		4,025		4		4,740		5
Total deposits	$	142,303	100	%	$	142,303	100	%	$	112,678	100	%	$	99,285	100	%	$	96,564	100	%

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

(2)Comprised primarily of national market deposits.

Huntington Bancshares Incorporated

Consolidated Quarterly Average Balance Sheets

(Unaudited)


	Quarterly Average Balances (1)
	December 31,		September 30,		June 30,		March 31,		December 31,		Percent Changes vs.
(dollar amounts in millions)	2021		2021		2021		2021		2020		3Q21		4Q20
Assets
Interest-bearing deposits at Federal Reserve Bank	$	7,227	$	11,536	$	7,636	$	6,065	$	5,507	(37)	%	31	%
Interest-bearing deposits in banks	521		466		319		177		205		12		154
Securities:
Trading account securities	51		49		48		52		53		4		(4)
Available-for-sale securities:
Taxable	23,895		20,147		20,096		14,827		12,048		19		98
Tax-exempt	3,057		3,116		2,832		2,650		2,710		(2)		13
Total available-for-sale securities	26,952		23,263		22,928		17,477		14,758		16		83


Held-to-maturity securities - taxable	12,421		11,964		7,280		8,269		8,844		4		40





Other securities	651		677		479		412		420		(4)		55
Total securities	40,075		35,953		30,735		26,210		24,075		11		66
Loans held for sale	1,381		1,525		1,294		1,392		1,319		(9)		5
Loans and leases: (2)
Commercial:
Commercial and industrial	40,582		40,597		34,126		32,153		32,508		—		25
Commercial real estate:
Construction	1,820		1,803		1,310		1,053		1,085		1		68
Commercial	12,758		12,891		7,773		6,122		6,092		(1)		109
Commercial real estate	14,578		14,694		9,083		7,175		7,177		(1)		103
Lease financing	4,933		4,983		2,798		2,199		2,342		(1)		111
Total commercial	60,093		60,274		46,007		41,527		42,027		—		43
Consumer:
Residential mortgage	18,955		18,886		13,768		12,094		12,100		—		57
Automobile	13,355		13,209		12,793		12,665		12,857		1		4
Home equity	10,748		11,106		9,375		8,809		8,919		(3)		21
RV and marine	5,040		4,998		4,447		4,193		4,181		1		21
Other consumer	1,661		1,458		1,047		973		1,032		14		61
Total consumer	49,759		49,657		41,430		38,734		39,089		—		27
Total loans and leases	109,852		109,931		87,437		80,261		81,116		—		35
Allowance for loan and lease losses	(2,112)		(2,219)		(1,828)		(1,809)		(1,804)		5		(17)
Net loans and leases	107,740		107,712		85,609		78,452		79,312		—		36
Total earning assets	159,056		159,411		127,421		114,105		112,222		—		42
Cash and due from banks	1,695		1,535		1,106		1,080		1,113		10		52
Goodwill and other intangible assets	5,570		5,578		3,055		2,176		2,185		—		155
All other assets	9,463		9,528		8,076		7,443		7,279		(1)		30
Total assets	$	173,672	$	173,833	$	137,830	$	122,995	$	120,995	—	%	44	%
Liabilities and shareholders’ equity
Interest-bearing deposits:
Demand deposits - interest-bearing	$	38,441	$	35,690	$	29,729	$	26,812	$	25,094	8	%	53	%
Money market deposits	32,400		33,281		28,124		26,247		26,144		(3)		24
Savings and other domestic deposits	20,896		20,931		15,190		12,277		11,468		—		82
Core certificates of deposit (3)	2,909		3,319		1,832		1,384		1,479		(12)		97

Other domestic deposits of $250,000 or more	452		582		259		115		139		(22)		225
Negotiable CDS, brokered and other deposits	3,843		3,905		2,986		3,355		4,100		(2)		(6)

Total interest-bearing deposits	98,941		97,708		78,120		70,190		68,424		1		45
Short-term borrowings	342		317		241		208		239		8		43
Long-term debt	7,674		7,587		6,887		7,766		8,799		1		(13)
Total interest-bearing liabilities	106,957		105,612		85,248		78,164		77,462		1		38
Demand deposits - noninterest-bearing	43,362		44,595		34,558		29,095		28,140		(3)		54
All other liabilities	3,957		3,823		2,608		2,412		2,452		4		61
Total Huntington Bancshares Inc shareholders’ equity	19,375		19,783		15,410		13,324		12,941		(2)		50
Non-controlling interest	21		20		6		—		—		5		100
Total equity	19,396		19,803		15,416		13,324		12,941		(2)		50
Total liabilities and shareholders’ equity	$	173,672	$	173,833	$	137,830	$	122,995	$	120,995	—	%	44	%

(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
	December 31,		September 30,		June 30,		March 31,		December 31,
(dollar amounts in millions)	2021		2021		2021		2021		2020
Assets
Interest-bearing deposits at Federal Reserve Bank	$	3	$	4	$	2	$	2	$	2
Interest-bearing deposits in banks	—		1		—		—		—
Securities:
Trading account securities	—		—		1		—		1
Available-for-sale securities:
Taxable	77		68		67		49		46
Tax-exempt	19		18		17		17		17
Total available-for-sale securities	96		86		84		66		63
Held-to-maturity securities - taxable	50		47		35		42		47



Other securities	4		2		2		2		2
Total securities	150		135		122		110		113
Loans held for sale	10		13		9		9		9
Loans and leases:
Commercial:
Commercial and industrial	393		419		319		315		294
Commercial real estate:
Construction	17		17		12		9		9
Commercial	102		105		60		40		41
Commercial real estate	119		122		72		49		50
Lease financing	61		61		36		28		30
Total commercial	573		602		427		392		374
Consumer:
Residential mortgage	141		139		104		95		99
Automobile	119		121		115		116		125
Home equity	109		113		89		80		85
RV and marine	54		55		46		44		47
Other consumer	29		29		27		27		29
Total consumer	452		457		381		362		385
Total loans and leases	1,025		1,059		808		754		759
Total earning assets	$	1,188	$	1,212	$	941	$	875	$	883

Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	$	3	$	3	$	4	$	2	$	2
Money market deposits	6		7		4		4		7
Savings and other domestic deposits	1		1		2		1		1
Core certificates of deposit (3)	—		(2)		1		2		2

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

Total interest-bearing deposits	11		11		12		11		15
Short-term borrowings	1		—		—		—		—
Long-term debt	38		34		85		(114)		38
Total interest bearing liabilities	50		45		97		(103)		53
Net interest income	$	1,138	$	1,167	$	844	$	978	$	830

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

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

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

Huntington Bancshares Incorporated

Consolidated Quarterly Net Interest Margin - Yield

(Unaudited)


	Quarterly Average Rates
	December 31,		September 30,		June 30,		March 31,		December 31,
Fully-taxable equivalent basis (1)	2021		2021		2021		2021		2020
Assets
Interest-bearing deposits at Federal Reserve Bank	0.15	%	0.17	%	0.11	%	0.10	%	0.10	%
Interest-bearing deposits in banks	0.06		0.04		0.01		0.08		0.12
Securities:
Trading account securities	3.67		2.98		2.96		3.64		3.65
Available-for-sale securities:
Taxable	1.29		1.34		1.34		1.32		1.53
Tax-exempt	2.40		2.37		2.42		2.52		2.59
Total available-for-sale securities	1.42		1.48		1.47		1.50		1.72
Held-to-maturity securities - taxable	1.59		1.58		1.94		2.02		2.11



Other securities	2.18		1.43		1.72		1.66		1.85
Total securities	1.49		1.52		1.59		1.67		1.87
Loans held for sale	3.14		3.23		2.79		2.64		2.96
Loans and leases: (3)
Commercial:
Commercial and industrial	3.79		4.04		3.70		3.91		3.53
Commercial real estate:
Construction	3.71		3.68		3.57		3.41		3.36
Commercial	3.14		3.17		3.06		2.64		2.62
Commercial real estate	3.21		3.23		3.13		2.75		2.73
Lease financing	4.81		4.84		5.00		5.18		5.08
Total commercial	3.73		3.91		3.67		3.78		3.48
Consumer:
Residential mortgage	2.97		2.95		3.04		3.13		3.27
Automobile	3.53		3.62		3.62		3.71		3.88
Home equity	4.01		4.03		3.79		3.71		3.76
RV and marine	4.31		4.33		4.13		4.30		4.53
Other consumer	7.08		7.98		10.17		11.17		11.12
Total consumer	3.62		3.65		3.69		3.78		3.93
Total loans and leases	3.68		3.80		3.68		3.78		3.70
Total earning assets	2.96		3.02		2.96		3.11		3.13
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	0.03		0.04		0.04		0.04		0.04
Money market deposits	0.08		0.08		0.06		0.06		0.10
Savings and other domestic deposits	0.02		0.03		0.04		0.04		0.05
Core certificates of deposit (4)	—		(0.23)		0.19		0.51		0.56

Other domestic deposits of $250,000 or more	0.18		0.21		0.26		0.22		0.51
Negotiable CDS, brokered and other deposits	0.14		0.15		0.16		0.18		0.19

Total interest-bearing deposits	0.05		0.05		0.06		0.06		0.08
Short-term borrowings	0.09		0.14		0.47		0.19		0.26
Long-term debt	1.93		1.81		4.97		(5.88)		1.72
Total interest-bearing liabilities	0.18		0.17		0.45		(0.53)		0.27

Net interest rate spread	2.78		2.85		2.51		3.64		2.86
Impact of noninterest-bearing funds on margin	0.06		0.05		0.15		(0.16)		0.08
Net interest margin	2.84	%	2.90	%	2.66	%	3.48	%	2.94	%


Commercial Loan Derivative Impact
(Unaudited)
	Average Rates
	2021		2021		2021		2021		2020
Fully-taxable equivalent basis (1)	Fourth		Third		Second		First		Fourth
Commercial loans (2)(3)	3.53	%	3.65	%	3.27	%	3.22	%	2.92	%
Impact of commercial loan derivatives	0.20		0.26		0.40		0.56		0.56
Total commercial - as reported	3.73	%	3.91	%	3.67	%	3.78	%	3.48	%
Average 1 Month LIBOR	0.09	%	0.09	%	0.10	%	0.12	%	0.15	%

(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)	December 31,		September 30,		June 30,		March 31,		December 31,
	2021		2021		2021		2021		2020
Interest income	$	1,182	$	1,205	$	935	$	869	$	878
Interest expense	50		45		97		(103)		53
Net interest income	1,132		1,160		838		972		825
Provision for credit losses	(64)		(62)		211		(60)		103
Net interest income after provision for credit losses	1,196		1,222		627		1,032		722
Service charges on deposit accounts	101		114		88		69		78
Card and payment processing income	93		96		80		65		65
Mortgage banking income	61		81		67		100		90
Trust and investment management services	63		61		56		52		49
Capital markets fees	47		40		35		29		34
Insurance income	28		25		25		27		25
Leasing revenue	41		42		12		4		6
Bank owned life insurance income	22		15		16		16		14
Gain on sale of loans	1		2		3		3		13
Net gains (losses) on sales of securities	(1)		—		10		—		—
Other noninterest income	59		59		52		30		35
Total noninterest income	515		535		444		395		409
Personnel costs	632		643		592		468		426
Outside data processing and other services	269		304		162		115		111
Net occupancy	68		95		72		42		39
Equipment	68		79		55		46		49
Professional services	22		26		48		17		21
Marketing	35		25		15		14		15
Deposit and other insurance expense	18		17		8		8		8
Amortization of intangibles	14		13		11		10		10
Lease financing equipment depreciation	17		19		5		—		—
Other noninterest expense	78		68		104		73		77
Total noninterest expense	1,221		1,289		1,072		793		756
Income (loss) before income taxes	490		468		(1)		634		375
Provision for income taxes	88		90		14		102		59
Income (loss) after income taxes	402		378		(15)		532		316
Income attributable to non-controlling interest	1		1		—		—		—
Net income (loss) attributable to Huntington Bancshares Inc	401		377		(15)		532		316
Dividends on preferred shares	28		29		43		31		35
Impact of preferred stock redemption	(4)		15		—		—		—
Net income (loss) applicable to common shares	$	377	$	333	$	(58)	$	501	$	281

Average common shares - basic	1,444		1,463		1,125		1,018		1,017
Average common shares - diluted	1,471		1,487		1,125		1,041		1,036

Per common share
Net income (loss) - basic	$	0.26	$	0.23	$	(0.05)	$	0.49	$	0.28
Net income (loss) - diluted	0.26		0.22		(0.05)		0.48		0.27
Cash dividends declared	0.155		0.15		0.15		0.15		0.15

Revenue - fully-taxable equivalent (FTE)
Net interest income	$	1,132	$	1,160	$	838	$	972	$	825
FTE adjustment	6		7		6		6		5
Net interest income (1)	1,138		1,167		844		978		830
Noninterest income	515		535		444		395		409
Total revenue (1)	$	1,653	$	1,702	$	1,288	$	1,373	$	1,239

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

Huntington Bancshares Incorporated

Quarterly Mortgage Banking Noninterest Income

(Unaudited)


	Three Months Ended
	December 31,			September 30,			June 30,			March 31,			December 31,			Percent Changes vs.
(dollar amounts in millions)	2021			2021			2021			2021			2020			3Q21		4Q20
Net origination and secondary marketing income	$	56		$	80		$	70		$	94		$	92		(30)	%	(39)	%
Net mortgage servicing income
Loan servicing income	22			21			17			17			16			5		38
Amortization of capitalized servicing	(20)			(21)			(20)			(20)			(17)			5		(18)
Operating (expense) income	2			—			(3)			(3)			(1)			100		300
MSR valuation adjustment (1)	(1)			1			(24)			51			4			(200)		(125)
Gains (losses) due to MSR hedging	2			(4)			22			(46)			(9)			150		122
Net MSR risk management	1			(3)			(2)			5			(5)			133		120
Total net mortgage servicing (expense) income	$	3		$	(3)		$	(5)		$	2		$	(6)		200	%	150	%
All other	2			4			2			4			4			(50)		(50)
Mortgage banking income	$	61		$	81		$	67		$	100		$	90		(25)	%	(32)	%

Mortgage origination volume	$	3,880		$	4,467		$	4,007		$	4,042		$	3,741		(13)	%	4	%
Mortgage origination volume for sale	2,380			2,514			2,265			2,669			2,444			(5)		(3)

Third party mortgage loans serviced (2)	31,017			30,554			30,398			23,585			23,471			2		32
Mortgage servicing rights (2)	351			338			327			274			210			4		67
MSR % of investor servicing portfolio (2)	1.13		%	1.11		%	1.08		%	1.16		%	0.89		%	2	%	27	%

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

(2)At period end.

Huntington Bancshares Incorporated

Quarterly Credit Reserves Analysis

(Unaudited)


	Three Months Ended
	December 31,			September 30,			June 30,			March 31,			December 31,
(dollar amounts in millions)	2021			2021			2021			2021			2020
Allowance for loan and lease losses, beginning of period	$	2,107		$	2,218		$	1,703		$	1,814		$	1,796

Loan and lease charge-offs (1)	(79)			(106)			(102)			(95)			(140)
Recoveries of loans and leases previously charged off	45			51			40			31			28
Net loan and lease charge-offs	(34)			(55)			(62)			(64)			(112)
Provision for loan and lease losses	(43)			(56)			145			(47)			130
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	2,030			2,107			2,218			1,703			1,814
Allowance for unfunded lending commitments, beginning of period	98			104			38			52			82

Provision for (reduction in) unfunded lending commitments	(21)			(6)			66			(13)			(27)

Unfunded lending commitment losses	—			—			—			(1)			(3)
Allowance for unfunded lending commitments, end of period	77			98			104			38			52
Total allowance for credit losses, end of period	$	2,107		$	2,205		$	2,322		$	1,741		$	1,866
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases	1.81		%	1.91		%	1.98		%	2.12		%	2.22		%
Nonaccrual loans and leases (NALs)	284			245			227			330			341
Nonperforming assets (NPAs)	271			236			219			313			323
Total allowance for credit losses (ACL) as % of:
Total loans and leases	1.88		%	1.99		%	2.08		%	2.17		%	2.29		%
Nonaccrual loans and leases (NALs)	294			256			238			338			351
Nonperforming assets (NPAs)	281			247			229			320			332

(1)Net charge-offs and associated metrics for the period ended June 30, 2021 exclude $80 million of charge-offs recognized immediately upon completion of the TCF acquisition and related to required purchase accounting treatment.


	Three Months Ended
	December 31,		September 30,		June 30,		March 31,		December 31,
(dollar amounts in millions)	2021		2021		2021		2021		2020
Allocation of allowance for credit losses
Commercial
Commercial and industrial	$	832	$	801	$	1,030	$	824	$	879
Commercial real estate	586		678		499		332		297
Lease financing	44		70		89		41		60
Total commercial	1,462		1,549		1,618		1,197		1,236
Consumer
Residential mortgage	145		127		125		73		79
Automobile	108		122		141		156		166
Home equity	88		108		140		90		124
RV and marine	105		111		114		114		129
Other consumer	122		90		80		73		80
Total consumer	568		558		600		506		578
Total allowance for loan and lease losses	2,030		2,107		2,218		1,703		1,814
Allowance for unfunded lending commitments	77		98		104		38		52
Total allowance for credit losses	$	2,107	$	2,205	$	2,322	$	1,741	$	1,866

Huntington Bancshares Incorporated

Quarterly Net Charge-Off Analysis

(Unaudited)


	Three Months Ended
	December 31,			September 30,			June 30,			March 31,			December 31,
(dollar amounts in millions)	2021			2021			2021			2021			2020
Net charge-offs (recoveries) by loan and lease type:
Commercial:
Commercial and industrial	$	6		$	28		$	37		$	28		$	54
Commercial real estate:
Construction	—			(1)			—			—			—
Commercial	(4)			8			17			(3)			32
Commercial real estate	(4)			7			17			(3)			32
Lease financing	3			12			5			24			4
Total commercial	5			47			59			49			90
Consumer:
Residential mortgage	(1)			—			—			—			1
Automobile	—			(4)			(4)			2			6
Home equity	(1)			(3)			(1)			—			1
RV and marine	2			—			—			3			2
Other consumer	29			15			8			10			12
Total consumer	29			8			3			15			22
Total net charge-offs (1)	$	34		$	55		$	62		$	64		$	112


	Three Months Ended
	December 31,			September 30,			June 30,			March 31,			December 31,
	2021			2021			2021			2021			2020
Net charge-offs (recoveries) - annualized percentages:
Commercial:
Commercial and industrial	0.06		%	0.28		%	0.43		%	0.35		%	0.65		%
Commercial real estate:
Construction	(0.03)			(0.14)			(0.04)			(0.04)			(0.04)
Commercial	(0.13)			0.26			0.81			(0.17)			2.14
Commercial real estate	(0.12)			0.21			0.69			(0.15)			1.81
Lease financing	0.24			0.87			0.93			4.32			0.86
Total commercial	0.03			0.31			0.51			0.47			0.86
Consumer:
Residential mortgage	(0.01)			—			—			0.01			0.05
Automobile	(0.03)			(0.10)			(0.13)			0.05			0.21
Home equity	(0.04)			(0.08)			(0.08)			0.02			0.01
RV and marine	0.13			(0.01)			0.02			0.29			0.21
Other consumer	7.20			3.97			3.13			3.99			4.35
Total consumer	0.23			0.07			0.02			0.16			0.22
Net charge-offs as a % of average loans (1)	0.12		%	0.20		%	0.28		%	0.32		%	0.55		%

Huntington Bancshares Incorporated

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

(Unaudited)


	December 31,			September 30,			June 30,			March 31,			December 31,
(dollar amounts in millions)	2021			2021			2021			2021			2020
Nonaccrual loans and leases (NALs):
Commercial and industrial	$	370		$	494		$	591		$	326		$	349
Commercial real estate	104			103			83			8			15
Lease financing	48			60			74			17			4
Residential mortgage	111			108			130			90			88
Automobile	3			3			3			3			4
Home equity	79			87			91			71			70
RV and marine	1			6			5			1			2

Total nonaccrual loans and leases	716			861			977			516			532
Other real estate, net:
Residential	8			6			5			2			4
Commercial	1			1			2			—			—
Total other real estate, net	9			7			7			2			4
Other NPAs (2)	25			25			30			26			27
Total nonperforming assets	$	750		$	893		$	1,014		$	544		$	563

Nonaccrual loans and leases as a % of total loans and leases	0.64		%	0.78		%	0.87		%	0.64		%	0.65		%
NPA ratio (3)	0.67			0.81			0.91			0.68			0.69
(NPA+90days)/(Loan+OREO) (4)	0.86			0.97			1.04			0.87			0.90


	Three Months Ended
	December 31,		September 30,		June 30,		March 31,		December 31,
(dollar amounts in millions)	2021		2021		2021		2021		2020
Nonperforming assets, beginning of period	$	893	$	1,014	$	544	$	563	$	602
New nonperforming assets	146		195		116		129		248
Acquired NPAs	—		—		629		—		—

Returns to accruing status	(99)		(125)		(46)		(33)		(108)
Charge-offs	(35)		(51)		(77)		(52)		(73)
Payments	(152)		(128)		(81)		(55)		(82)
Sales	(3)		(12)		(71)		(8)		(24)

Nonperforming assets, end of period	$	750	$	893	$	1,014	$	544	$	563

(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

(Unaudited)


	December 31,			September 30,			June 30,			March 31,			December 31,
(dollar amounts in millions)	2021			2021			2021			2021			2020
Accruing loans and leases past due 90+ days:
Commercial and industrial	$	13		$	6		$	1		$	—		$	—

Lease financing	11			12			14			8			10
Residential mortgage (excluding loans guaranteed by the U.S. Government)	25			16			17			18			30
Automobile	6			5			4			5			9
Home equity	17			10			9			10			14
RV and marine	3			2			1			1			3
Other consumer	3			2			2			2			3
Total, excl. loans guaranteed by the U.S. Government	78			53			48			44			69
Add: loans guaranteed by U.S. Government	132			122			100			110			102
Total accruing loans and leases past due 90+ days, including loans guaranteed by the U.S. Government	$	210		$	175		$	148		$	154		$	171

Ratios:
Excluding loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.07		%	0.05		%	0.04		%	0.05		%	0.08		%
Guaranteed by U.S. Government, as a percent of total loans and leases	0.12			0.11			0.09			0.14			0.13
Including loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.19			0.16			0.13			0.19			0.21

Huntington Bancshares Incorporated

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

(Unaudited)


	December 31,			September 30,			June 30,			March 31,			December 31,
(dollar amounts in millions)	2021			2021			2021			2021			2020
Common equity tier 1 risk-based capital ratio: (1)
Total shareholders’ equity	$	19,297		$	19,479		$	20,511		$	13,600		$	12,992
Regulatory capital adjustments:
CECL transitional amount (2)	437			440			459			422			453
Shareholders’ preferred equity	(2,177)			(2,281)			(2,866)			(2,680)			(2,196)
Accumulated other comprehensive income (loss) offset	230			125			19			56			(192)
Goodwill and other intangibles, net of related taxes	(5,484)			(5,477)			(5,479)			(2,095)			(2,107)
Deferred tax assets that arise from tax loss and credit carryforwards	(54)			(36)			(48)			(63)			(63)
Common equity tier 1 capital	12,249			12,250			12,596			9,240			8,887
Additional tier 1 capital
Shareholders’ preferred equity	2,177			2,281			2,866			2,680			2,196


Tier 1 capital	14,426			14,531			15,462			11,920			11,083
Long-term debt and other tier 2 qualifying instruments	1,540			1,552			1,062			610			660
Qualifying allowance for loan and lease losses	1,281			1,290			1,345			1,119			1,113
Tier 2 capital	2,821			2,842			2,407			1,729			1,773
Total risk-based capital	$	17,247		$	17,373		$	17,869		$	13,649		$	12,856
Risk-weighted assets (RWA)(1)	$	131,302		$	128,023		$	126,241		$	89,494		$	88,878
Common equity tier 1 risk-based capital ratio (1)	9.33		%	9.57		%	9.98		%	10.32		%	10.00		%
Other regulatory capital data:
Tier 1 leverage ratio (1)	8.56			8.62			11.65			9.85			9.32
Tier 1 risk-based capital ratio (1)	10.99			11.35			12.25			13.32			12.47
Total risk-based capital ratio (1)	13.13			13.57			14.15			15.25			14.46
Non-regulatory capital data:
Tangible common equity / RWA ratio (1)	8.83			9.14			9.61			9.82			9.74

(1)December 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, 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


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







Cash dividends declared per common share	$	0.155	$	0.15	$	0.15	$	0.15	$	0.15
Common shares outstanding (in millions)
Average - basic	1,444		1,463		1,125		1,018		1,017
Average - diluted	1,471		1,487		1,125		1,041		1,036
Ending	1,438		1,446		1,477		1,018		1,017
Tangible book value per common share (1)	$	8.06	$	8.09	$	8.22	$	8.64	$	8.51
Common share repurchases (in millions)
Number of shares repurchased	10		33		—		—		—

Non-regulatory capital


	December 31,			September 30,			June 30,			March 31,			December 31,
(dollar amounts in millions)	2021			2021			2021			2021			2020
Calculation of tangible equity / asset ratio:
Total shareholders’ equity	$	19,297		$	19,479		$	20,511		$	13,600		$	12,993
Goodwill and other intangible assets	(5,591)			(5,571)			(5,585)			(2,171)			(2,181)

Deferred tax liability on other intangible assets (1)	51			54			56			38			40
Total tangible equity	13,757			13,962			14,982			11,467			10,852
Preferred equity	(2,167)			(2,267)			(2,851)			(2,676)			(2,191)
Total tangible common equity	$	11,590		$	11,695		$	12,131		$	8,791		$	8,661
Total assets	$	174,064		$	173,878		$	175,172		$	125,768		$	123,038
Goodwill and other intangible assets	(5,591)			(5,571)			(5,585)			(2,171)			(2,181)
Deferred tax liability on other intangible assets (1)	51			54			56			38			40
Total tangible assets	$	168,524		$	168,361		$	169,643		$	123,635		$	120,897
Tangible equity / tangible asset ratio	8.16		%	8.29		%	8.83		%	9.28		%	8.98		%
Tangible common equity / tangible asset ratio	6.88			6.95			7.15			7.11			7.16
Other data:
Number of employees (Average full-time equivalent)	20,309			20,908			17,018			15,449			15,477
Number of domestic full-service branches (2)	1,087			1,236			1,239			814			839
ATM Count	1,756			2,317			2,340			1,314			1,322

(1)Deferred tax liability related to other intangible assets is calculated at a 21% tax rate.

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

Huntington Bancshares Incorporated

Consolidated Annual Average Balance Sheets

(Unaudited)


	Annual Average Balances (1)
			Change from 2020						Change from 2019
(dollar amounts in millions)	2021		Amount		Percent		2020		Amount		Percent		2019
Assets
Interest-bearing deposits in Federal Reserve Bank	$	8,129	$	4,255	110	%	$	3,874	$	3,322	602	%	$	552
Interest-bearing deposits in banks	372		196		111		176		34		24		142
Securities:
Trading account securities	50		(9)		(15)		59		(77)		(57)		136
Available-for-sale securities:
Taxable	19,767		8,375		74		11,392		498		5		10,894
Tax-exempt	2,916		181		7		2,735		(172)		(6)		2,907
Total available-for-sale securities	22,683		8,556		61		14,127		326		2		13,801
Allowance for securities losses	—		—		—		—		—		—		—
Net available-for-sale securities	22,683		8,556		61		14,127		326		2		13,801
Held-to-maturity securities - taxable	10,000		752		8		9,248		603		7		8,645
Allowance for securities losses	—		—		—		—		—		—		—
Net Held-to-maturity securities - taxable	10,000		752		8		9,248		603		7		8,645
Other securities	556		113		26		443		(28)		(6)		471
Total securities	33,289		9,412		39		23,877		824		4		23,053
Loans held for sale	1,398		277		25		1,121		305		37		816
Loans and leases:(2)
Commercial:
Commercial and industrial	36,898		5,274		17		31,624		3,339		12		28,285
Commercial real estate:
Construction	1,500		344		30		1,156		(15)		(1)		1,171
Commercial	9,912		4,014		68		5,898		196		3		5,702
Commercial real estate	11,412		4,358		62		7,054		181		3		6,873
Lease financing	3,739		1,446		63		2,293		29		1		2,264
Total commercial	52,049		11,078		27		40,971		3,549		9		37,422
Consumer:
Residential mortgage	15,953		4,259		36		11,694		607		5		11,087
Automobile	13,008		170		1		12,838		495		4		12,343
Home equity	10,018		1,088		12		8,930		(486)		(5)		9,416
RV and marine	4,672		796		21		3,876		425		12		3,451
Other consumer	1,287		201		19		1,086		(173)		(14)		1,259
Total consumer	44,938		6,514		17		38,424		868		2		37,556
Total loans and leases	96,987		17,592		22		79,395		4,417		6		74,978
Allowance for loan and lease losses	(1,993)		(412)		(26)		(1,581)		(795)		(101)		(786)
Net loans and leases	94,994		17,180		22		77,814		3,622		5		74,192
Total earning assets	140,175		31,732		29		108,443		8,902		9		99,541
Cash and due from banks	1,356		232		21		1,124		282		33		842
Intangible assets	4,108		1,907		87		2,201		(45)		(2)		2,246
All other assets	8,635		1,590		23		7,045		917		15		6,128
Total assets	$	152,281	$	35,049	30	%	$	117,232	$	9,261	9	%	$	107,971
Liabilities and shareholders’ equity
Interest-bearing deposits:
Demand deposits - interest-bearing	$	32,708	$	9,194	39	%	$	23,514	$	3,656	18	%	$	19,858
Money market deposits	30,039		4,344		17		25,695		1,923		8		23,772
Savings and other domestic deposits	17,357		6,637		62		10,720		804		8		9,916
Core certificates of deposit (3)	2,368		(242)		(9)		2,610		(2,980)		(53)		5,590

Other domestic deposits of $250,000 or more	353		137		63		216		(103)		(32)		319
Negotiable CDs, brokered and other deposits	3,525		(297)		(8)		3,822		1,006		36		2,816

Total interest-bearing deposits	86,350		19,773		30		66,577		4,306		7		62,271
Short-term borrowings	278		(869)		(76)		1,147		(1,297)		(53)		2,444
Long-term debt	7,479		(2,017)		(21)		9,496		164		2		9,332
Total interest-bearing liabilities	94,107		16,887		22		77,220		3,173		4		74,047
Demand deposits - noninterest-bearing	37,960		12,624		50		25,336		5,275		26		20,061
All other liabilities	3,205		832		35		2,373		70		3		2,303
Total Huntington Bancshares Inc shareholders’ equity	16,997		4,694		38		12,303		743		6		11,560
Non-controlling interest	12		12		100		—		—		—		—
Total Equity	$	17,009	$	4,706	38		$	12,303	$	743	6		$	11,560
Total liabilities and shareholders’ equity	$	152,281	$	35,049	30	%	$	117,232	$	9,261	9	%	$	107,971

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

(Unaudited)


	Annual Interest Income / Expense
(dollar amounts in millions)	2021		2020		2019
Assets
Interest-bearing deposits in Federal Reserve Bank	$	11	$	6	$	12
Interest-bearing deposits in banks	1		1		3
Securities:
Trading account securities	1		2		3
Available-for-sale securities:
Taxable	261		237		295
Tax-exempt	71		77		105
Total available-for-sale securities	332		314		400
Held-to-maturity securities - taxable	174		216		218
Other securities	10		6		16
Total securities	517		538		637
Loans held for sale	41		34		31
Loans and leases:
Commercial:
Commercial and industrial	1,446		1,166		1,313
Commercial real estate:
Construction	55		44		64
Commercial	307		181		273
Commercial real estate	362		225		337
Lease Financing	186		124		128
Total commercial	1,994		1,515		1,778
Consumer:
Residential mortgage	479		406		422
Automobile	471		504		500
Home equity	391		358		508
RV and marine	199		181		171
Other consumer	112		125		165
Total consumer	1,652		1,574		1,766
Total loans and leases	3,646		3,089		3,544
Total earning assets	$	4,216	$	3,668	$	4,227
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	$	12	$	32	$	116
Money market deposits	21		100		260
Savings and other domestic deposits	5		10		22
Core certificates of deposit	1		38		119

Other domestic deposits of $250,000 or more	1		3		7
Negotiable CDS, brokered and other deposits	5		15		61

Total interest-bearing deposits	45		198		585
Short-term borrowings	1		13		54
Long-term debt	43		212		349
Total interest-bearing liabilities	89		423		988
Net interest income	$	4,127	$	3,245	$	3,239

(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.

Huntington Bancshares Incorporated

Consolidated Annual Net Interest Margin - Yield

(Unaudited)


	Annual Average Rates(2)
Fully-taxable equivalent basis(1)	2021		2020		2019
Assets
Interest-bearing deposits in Federal Reserve Bank	0.14	%	0.15	%	2.12	%
Interest-bearing deposits in banks	0.04		0.47		2.01
Securities:
Trading account securities	3.32		3.10		2.17
Available-for-sale securities:
Taxable	1.32		2.08		2.71
Tax-exempt	2.42		2.84		3.61
Total available-for-sale securities	1.46		2.23		2.90
Held-to-maturity securities - taxable	1.74		2.33		2.52
Other securities	1.75		1.41		3.47
Total securities	1.55		2.25		2.76
Loans held for sale	2.96		3.06		3.76
Loans and leases: (4)
Commercial:
Commercial and industrial	3.92		3.69		4.64
Commercial real estate:
Construction	3.67		3.84		5.51
Commercial	3.10		3.07		4.79
Commercial real estate	3.17		3.19		4.91
Lease financing	4.98		5.42		5.66
Total commercial	3.83		3.70		4.75
Consumer:
Residential mortgage	3.00		3.47		3.81
Automobile	3.62		3.93		4.05
Home equity	3.90		4.01		5.40
RV and marine	4.27		4.68		4.95
Other consumer	8.73		11.48		13.11
Total consumer	3.68		4.10		4.70
Total loans and leases	3.76		3.89		4.73
Total earning assets	3.01		3.38		4.25
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	0.04	%	0.14	%	0.58	%
Money market deposits	0.07		0.39		1.09
Savings and other domestic deposits	0.03		0.09		0.22
Core certificates of deposit (4)	0.03		1.44		2.13

Other domestic deposits of $250,000 or more	0.21		1.18		1.82
Negotiable CDS, brokered and other deposits	0.16		0.38		2.18

Total interest-bearing deposits	0.05		0.30		0.94
Short-term borrowings	0.20		1.18		2.23
Long-term debt	0.57		2.24		3.74
Total interest bearing liabilities	0.09		0.55		1.34
Demand deposits - noninterest-bearing	—		—		—
Net interest rate spread	2.92		2.83		2.91
Impact of noninterest-bearing funds on margin	0.02		0.16		0.35
Net interest margin	2.94	%	2.99	%	3.26	%


Commercial Loan Derivative Impact
(Unaudited)
	Annual Average Rates
Fully-taxable equivalent basis(1)	2021		2020		2019
Commercial loans (2)(3)	3.50	%	3.32	%	4.72	%
Impact of commercial loan derivatives	0.33		0.38		0.03
Total commercial - as reported	3.83	%	3.70	%	4.75	%

Average 1 Month LIBOR	0.10	%	0.52	%	2.22	%

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

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

(3)Includes the impact of nonaccrual loans.

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

Huntington Bancshares Incorporated

Selected Annual Income Statement Data

(Unaudited)


	Year Ended December 31,
(dollar amounts in millions, except per share data)			Change						Change
	2021		Amount		Percent		2020		Amount		Percent		2019
Interest income	$	4,191	$	544	15	%	$	3,647	$	(554)	(13)	%	$	4,201
Interest expense	89		(334)		(79)		423		(565)		(57)		988
Net interest income	4,102		878		27		3,224		11		—		3,213
Provision for credit losses	25		(1,023)		(98)		1,048		761		265		287
Net interest income after provision for credit losses	4,077		1,901		87		2,176		(750)		(26)		2,926
Service charges on deposit accounts	372		71		24		301		(71)		(19)		372
Card and payment processing income	334		86		35		248		2		1		246
Mortgage banking income	309		(57)		(16)		366		199		119		167
Trust and investment management services	232		43		23		189		11		6		178
Capital markets fees	151		26		21		125		2		2		123
Insurance income	105		8		8		97		9		10		88
Leasing revenue	99		78		371		21		2		11		19
Bank owned life insurance income	69		5		8		64		(2)		(3)		66
Gain on sale of loans	9		(33)		(79)		42		(13)		(24)		55
Net gains (losses) on sales of securities	9		10		NM		(1)		23		96		(24)
Other noninterest income	200		61		44		139		(25)		(15)		164
Total noninterest income	1,889		298		19		1,591		137		9		1,454
Personnel costs	2,335		643		38		1,692		38		2		1,654
Outside data processing and other services	850		466		121		384		38		11		346
Net occupancy	277		119		75		158		(1)		(1)		159
Equipment	248		68		38		180		17		10		163
Professional services	113		58		105		55		1		2		54
Marketing	89		51		134		38		1		3		37
Deposit and other insurance expense	51		19		59		32		(2)		(6)		34
Amortization of intangibles	48		7		17		41		(8)		(16)		49
Lease financing equipment depreciation	41		40		NM		1		(3)		(75)		4
Other noninterest expense	323		109		51		214		(7)		(3)		221
Total noninterest expense	4,375		1,580		57		2,795		74		3		2,721
Income before income taxes	1,591		619		64		972		(687)		(41)		1,659
Provision for income taxes	294		139		90		155		(93)		(38)		248
Income after income taxes	1,297		480		59		817		(594)		(42)		1,411
Income attributable to non-controlling interest	2		2		100		—		—		—		—
Net income attributable to Huntington Bancshares Inc	1,295		478		59		817		(594)		(42)		1,411
Dividends on preferred shares	131		31		31		100		26		35		74
Impact of preferred stock redemption	11		11		100		—		—		—		—
Net income applicable to common shares	$	1,153	$	436	61	%	$	717	$	(620)	(46)	%	$	1,337
Average common shares - basic	1,262		245		24	%	1,017		(22)		(2)	%	1,039
Average common shares - diluted	1,287		254		25		1,033		(23)		(2)		1,056
Per common share
Net income - basic	$	0.91	$	0.20	28		$	0.71	$	(0.58)	(45)		$	1.29
Net income - diluted	0.90		0.21		30		0.69		(0.58)		(46)		1.27
Cash dividends declared	0.605		0.01		1		0.60		0.02		3		0.58
Revenue - fully taxable equivalent (FTE)
Net interest income	$	4,102	$	878	27		$	3,224	$	11	—		$	3,213
FTE adjustment (1)	25		4		19		21		(5)		(19)		26
Net interest income	4,127		882		27		3,245		6		—		3,239
Noninterest income	1,889		298		19		1,591		137		9		1,454
Total revenue (1)	$	6,016	$	1,180	24	%	$	4,836	$	143	3	%	$	4,693

NM - Not Meaningful

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

Huntington Bancshares Incorporated

Annual Mortgage Banking Income

(Unaudited)


	Year Ended December 31,
(dollar amounts in millions)	2021			2020			2019
Net origination and secondary marketing income	$	300		$	346		$	132
Net mortgage servicing income
Loan servicing income	77			61			59
Amortization of capitalized servicing	(81)			(53)			(45)
Operating income	(4)			8			14
MSR valuation adjustment (1)	27			(52)			(15)
Gains (losses) due to MSR hedging	(26)			53			29
Net MSR risk management	1			1			14
Total net mortgage servicing income	$	(3)		$	9		$	28
All other	12			11			7
Mortgage banking income	$	309		$	366		$	167

Mortgage origination volume	$	16,396		$	13,489		$	7,744
Mortgage origination volume for sale	9,828			8,842			4,938

Third party mortgage loans serviced (2)	31,017			23,471			22,425
Mortgage servicing rights (2)	351			210			212
MSR % of investor servicing portfolio	1.13		%	0.89		%	0.95		%

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

(2)At period end.

Huntington Bancshares Incorporated

Annual Credit Reserves Analysis

(Unaudited)


	Year Ended December 31,
(dollar amounts in millions)	2021			2020			2019
Allowance for loan and lease losses, beginning of period	$	1,814		$	783		$	772
Cumulative-effect of change in accounting principle for financial instruments - credit losses (ASU 2016-13)	—			391			—
Loan and lease charge-offs (1)	(382)			(540)			(362)
Recoveries of loans and leases previously charged off	167			91			97
Net loan and lease charge-offs	(215)			(449)			(265)
Provision for loan and lease losses	(1)			1,089			277
Allowance on loans and leases purchased with credit deterioration	432			—			—
Allowance of assets sold or transferred to loans held for sale	—			—			(1)
Allowance for loan and lease losses, end of period	2,030			1,814			783
Allowance for unfunded lending commitments, beginning of period	52			104			96
Cumulative-effect of change in accounting principle for financial instruments - credit losses (ASU 2016-13)	—			2			—
Provision for (reduction in) unfunded lending commitments	26			(41)			10

Unfunded lending commitment losses	(1)			(13)			(2)
Allowance for unfunded lending commitments, end of period	77			52			104
Total allowance for credit losses, end of period	$	2,107		$	1,866		$	887
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases	1.81		%	2.22		%	1.04		%
Nonaccrual loans and leases (NALs)	284			341			167
Nonperforming assets (NPAs)	271			323			157
Total allowance for credit losses (ACL) as % of:
Total loans and leases	1.88		%	2.29		%	1.18		%
Nonaccrual loans and leases (NALs)	294			351			190
Nonperforming assets (NPAs)	281			332			178

(1)Net charge-offs and associated metrics for the period ended December 31, 2021 exclude $80 million of charge-offs recognized immediately upon completion of the TCF acquisition and related to required purchase accounting treatment.


	Year Ended December 31,
(dollar amounts in millions)	2021		2020		2019
Allocation of allowance for credit losses
Commercial
Commercial and industrial	$	832	$	879	$	426
Commercial real estate	586		297		83
Lease financing	44		60		43
Total commercial	1,462		1,236		552
Consumer
Residential mortgage	145		79		23
Automobile	108		166		57
Home equity	88		124		50
RV and marine	105		129		21
Other consumer	122		80		80
Total consumer	568		578		231
Total allowance for loan and lease losses	2,030		1,814		783
Allowance for unfunded lending commitments	77		52		104
Total allowance for credit losses	$	2,107	$	1,866	$	887

Huntington Bancshares Incorporated

Annual Net Charge-Off Analysis

(Unaudited)


	Year Ended December 31,
(dollar amounts in millions)	2021			2020			2019
Net charge-offs by loan and lease type:
Commercial:
Commercial and industrial	$	99		$	287		$	123
Commercial real estate:
Construction	(1)			—			(2)
Commercial	18			43			(1)
Commercial real estate	17			43			(3)
Lease financing	44			12			5
Total commercial	160			342			125
Consumer:
Residential mortgage	(1)			3			6
Automobile	(6)			33			32
Home equity	(5)			6			8
RV and marine	5			12			11
Other consumer	62			53			83
Total consumer	55			107			140
Total net charge-offs (1)	$	215		$	449		$	265

Net charge-offs - annualized percentages:
Commercial:
Commercial and industrial	0.27		%	0.91		%	0.44		%
Commercial real estate:
Construction	(0.07)			(0.05)			(0.15)
Commercial	0.18			0.74			(0.02)
Commercial real estate	0.14			0.61			(0.05)
Lease financing	1.18			0.54			0.19
Total commercial	0.31			0.84			0.33
Consumer:
Residential mortgage	—			0.03			0.06
Automobile	(0.05)			0.26			0.26
Home equity	(0.05)			0.07			0.08
RV and marine	0.10			0.31			0.31
Other consumer	4.84			4.84			6.62
Total consumer	0.12			0.28			0.37
Net charge-offs as a % of average loans (1)	0.22		%	0.57		%	0.35		%

Huntington Bancshares Incorporated

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

(Unaudited)


	December 31,
(dollar amounts in millions)	2021			2020			2019
Nonaccrual loans and leases (NALs):
Commercial and industrial	$	370		$	349		$	314
Commercial real estate	104			15			10
Lease financing	48			4			9
Residential mortgage	111			88			71
Automobile	3			4			4
Home equity	79			70			59
RV and marine	1			2			1

Total nonaccrual loans and leases	716			532			468

Other real estate, net:
Residential	8			4			9
Commercial	1			—			2
Total other real estate, net	9			4			11
Other NPAs (1)	25			27			19
Total nonperforming assets (3)	$	750		$	563		$	498

Nonaccrual loans and leases as a % of total loans and leases	0.64		%	0.65		%	0.62		%
NPA ratio (2)	0.67			0.69			0.66


	December 31,
(dollar amounts in millions)	2021		2020		2019
Nonperforming assets, beginning of period	$	563	$	498	$	387
New nonperforming assets	586		991		675
Returns to accruing status	(303)		(198)		(93)
Loan and lease losses	(215)		(327)		(194)
Payments	(416)		(292)		(188)
Sales and held-for-sale transfers	(94)		(109)		(89)

Nonperforming assets, end of period (2)	$	750	$	563	$	498

(1)Other nonperforming assets at December 31, 2019 include certain 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 nonperforming assets balance.

Huntington Bancshares Incorporated

Annual Accruing Past Due Loans and Leases

(Unaudited)


	December 31,
(dollar amounts in millions)	2021			2020			2019
Accruing loans and leases past due 90+ days:
Commercial and industrial	$	13		$	—		$	11

Lease financing	11			10			—
Residential mortgage (excluding loans guaranteed by the U.S. Government)	25			30			20
Automobile	6			9			8
Home equity	17			14			14
RV and marine	3			3			2
Other consumer	3			3			7
Total, excl. loans guaranteed by the U.S. Government	78			69			62
Add: loans guaranteed by U.S. Government	132			102			109
Total accruing loans and leases past due 90 days or more, including loans guaranteed by the U.S. Government	$	210		$	171		$	171
Ratios:
Excluding loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.07		%	0.08		%	0.08		%
Guaranteed by U.S. Government, as a percent of total loans and leases	0.12			0.13			0.14
Including loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.19			0.21			0.23

Form: 8-K

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