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

Exhibit 99.2

HUNTINGTON BANCSHARES INCORPORATED

Quarterly Financial Supplement

June 30, 2022

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			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 Noninterest 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

Reconciliation of Non-GAAP Financial Measures			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)	June 30,			March 31,			June 30,			Percent Changes vs.
	2022			2022			2021			1Q22		2Q21
Net interest income (2)	$	1,267		$	1,154		$	844		10	%	50	%
FTE adjustment	(6)			(8)			(6)			25		—
Net interest income	1,261			1,146			838			10		50
Provision for credit losses	67			25			211			168		(68)
Noninterest income	485			499			444			(3)		9
Noninterest expense	1,018			1,053			1,072			(3)		(5)
Income (loss) before income taxes	661			567			(1)			17		NM
Provision for income taxes	120			105			14			14		NM
Income (loss) after income taxes	541			462			(15)			17		NM
Income attributable to non-controlling interest	2			2			—			—		100
Net income (loss) attributable to Huntington Bancshares Inc	539			460			(15)			17		NM
Dividends on preferred shares	28			28			43			—		(35)

Net income (loss) applicable to common shares	$	511		$	432		$	(58)		18	%	NM

Net income (loss) per common share - diluted	$	0.35		$	0.29		$	(0.05)		21	%	NM
Cash dividends declared per common share	0.155			0.155			0.15			—		3
Tangible book value per common share at end of period	6.96			7.47			8.22			(7)		(15)
Number of common shares repurchased	—			—			—			—		—
Average common shares - basic	1,441			1,438			1,125			—		28
Average common shares - diluted	1,463			1,464			1,125			—		30
Ending common shares outstanding	1,442			1,439			1,477			—		(2)
Return on average assets	1.22		%	1.05		%	(0.05)		%
Return on average common shareholders’ equity	12.8			10.4			(1.9)
Return on average tangible common shareholders’ equity (1)	19.9			15.8			(2.1)
Net interest margin (2)	3.15			2.88			2.66
Efficiency ratio (3)	57.3			62.9			83.1
Effective tax rate	18.1			18.5			(2,353.3)
Average total assets	$	176,561		$	177,612		$	137,830		(1)		28
Average earning assets	161,225			162,414			127,378			(1)		27
Average loans and leases	113,949			111,142			87,394			3		30
Average loans and leases - linked quarter annualized growth rate	10.1		%	6.0		%	35.5		%
Average total deposits	$	145,008		$	142,917		$	112,678		1		29
Average core deposits (4)	141,802			139,148			109,433			2		30
Average core deposits - linked quarter annualized growth rate	7.6		%	3.3		%	56.9		%
Average shareholders’ equity	18,228			19,064			15,410			(4)		18
Average common total shareholders' equity	16,062			16,898			12,697			(5)		27
Average tangible common shareholders' equity	10,496			11,364			9,686			(8)		8
Total assets at end of period	178,782			176,856			175,172			1		2
Total shareholders’ equity at end of period	17,950			18,452			20,511			(3)		(12)

NCOs as a % of average loans and leases	0.03		%	0.07		%	0.28		%
NAL ratio	0.57			0.60			0.88
NPA ratio (5)	0.59			0.63			0.91
Allowance for loan and lease losses (ALLL) as a % of total loans and leases at the end of period	1.78			1.79			2.00
Allowance for credit losses (ACL) as a % of total loans and leases at the end of period	1.87			1.87			2.09
Common equity tier 1 risk-based capital ratio (6)	9.05			9.22			9.98
Tangible common equity / tangible asset ratio (7)	5.80			6.28			7.15

NM - Not Meaningful

See Notes to the Quarterly Key Statistics.

Huntington Bancshares Incorporated

Year to Date Key Statistics

(Unaudited)


	Six Months Ended June 30,						Change
(dollar amounts in millions, except per share data)	2022			2021			Amount		Percent
Net interest income (2)	$	2,421		$	1,822		$	599	33	%
FTE adjustment	(14)			(12)			(2)		(17)
Net interest income	2,407			1,810			597		33
Provision for credit losses	92			151			(59)		(39)
Noninterest income	984			839			145		17
Noninterest expense	2,071			1,865			206		11
Income before income taxes	1,228			633			595		94
Provision for income taxes	225			116			109		94
Income after income taxes	1,003			517			486		94
Income attributable to non-controlling interest	4			—			4		100
Net Income attributable to Huntington Bancshares Inc	999			517			482		93
Dividends on preferred shares	56			74			(18)		(24)

Net income applicable to common shares	$	943		$	443		$	500	113	%

Net income per common share - diluted	$	0.64		$	0.40		$	0.24	60	%
Cash dividends declared per common share	0.31			0.30			0.01		3

Average common shares - basic	1,440			1,071			369		34
Average common shares - diluted	1,464			1,094			370		34

Return on average assets	1.14		%	0.80		%
Return on average common shareholders’ equity	11.5			7.6
Return on average tangible common shareholders’ equity (1)	17.8			10.1
Net interest margin (2)	3.02			3.04
Efficiency ratio (3)	60.0			69.6
Effective tax rate	18.3			18.5

Average total assets	$	177,084		$	130,454		$	46,630	36
Average earning assets	161,816			120,778			41,038		34
Average loans and leases	112,553			83,845			28,708		34
Average total deposits	143,968			106,018			37,950		36
Average core deposits (4)	140,482			102,540			37,942		37
Average shareholders’ equity	18,644			14,373			4,271		30
Average common total shareholders' equity	16,478			11,782			4,696		40
Average tangible common shareholders' equity	10,927			9,206			1,721		19

NCOs as a % of average loans and leases	0.05		%	0.30		%
NAL ratio	0.57			0.88
NPA ratio (5)	0.59			0.91

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)June 30, 2022, 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


	June 30,		December 31,
(dollar amounts in millions)	2022		2021		Percent Changes
	(Unaudited)
Assets
Cash and due from banks	$	1,793	$	1,811	(1)	%
Interest-bearing deposits at Federal Reserve Bank	2,115		3,711		(43)
Interest-bearing deposits in banks	196		392		(50)
Trading account securities	34		46		(26)
Available-for-sale securities	24,377		28,460		(14)
Held-to-maturity securities	17,355		12,447		39


Other securities	763		648		18
Loans held for sale	969		1,676		(42)
Loans and leases (1)	116,221		111,267		4
Allowance for loan and lease losses	(2,074)		(2,030)		(2)
Net loans and leases	114,147		109,237		4
Bank owned life insurance	2,766		2,765		—
Accrued income and other receivables	2,169		1,319		64
Premises and equipment	1,175		1,164		1
Goodwill	5,571		5,349		4
Servicing rights and other intangible assets	703		611		15
Other assets	4,649		4,428		5
Total assets	$	178,782	$	174,064	3	%

Liabilities and shareholders’ equity
Liabilities
Deposits (2)	$	145,435	$	143,263	2	%
Short-term borrowings	3,048		334		NM
Long-term debt	7,866		7,108		11
Other liabilities	4,454		4,041		10
Total liabilities	160,803		154,746		4

Shareholders' equity
Preferred stock	2,167		2,167		—
Common stock	14		14		—
Capital surplus	15,261		15,222		—
Less treasury shares, at cost	(85)		(79)		(8)
Accumulated other comprehensive income (loss)	(2,098)		(229)		NM
Retained earnings	2,691		2,202		22
Total Huntington Bancshares Inc shareholders’ equity	17,950		19,297		(7)
Non-controlling interest	29		21		38
Total equity	17,979		19,318		(7)
Total liabilities and shareholders’ equity	$	178,782	$	174,064	3	%

Common shares authorized (par value of $0.01)	2,250,000,000		2,250,000,000
Common shares outstanding	1,442,194,344		1,437,742,172
Treasury shares outstanding	6,691,381		6,298,288
Preferred stock, authorized shares	6,617,808		6,617,808
Preferred shares outstanding	557,500		557,500

NM - Not Meaningful

(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)


	June 30,				March 31,				December 31,				September 30,				June 30,
(dollar amounts in millions)	2022				2022				2021				2021				2021
Ending Balances by Type:
Total loans
Commercial:
Commercial and industrial	$	43,440	38	%	$	42,236	37	%	$	41,688	37	%	$	40,452	36	%	$	41,900	37	%
Commercial real estate:
Commercial	14,173		12		13,381		12		13,090		12		12,882		12		12,848		12
Construction	1,522		1		2,010		2		1,871		2		1,812		2		1,926		2
Commercial real estate	15,695		13		15,391		14		14,961		14		14,694		14		14,774		14
Lease financing	5,043		4		4,978		4		5,000		4		4,991		5		5,027		5
Total commercial	64,178		55		62,605		55		61,649		55		60,137		55		61,701		56
Consumer:
Residential mortgage	21,220		18		19,942		18		19,256		17		18,922		17		18,729		17
Automobile	13,622		12		13,480		12		13,434		12		13,305		12		13,174		12
Home equity	10,426		9		10,343		9		10,550		9		10,919		10		11,317		10
RV and marine	5,453		5		5,191		5		5,058		5		5,052		5		4,960		4
Other consumer	1,322		1		1,256		1		1,320		2		1,223		1		1,187		1
Total consumer	52,043		45		50,212		45		49,618		45		49,421		45		49,367		44
Total loans and leases	$	116,221	100	%	$	112,817	100	%	$	111,267	100	%	$	109,558	100	%	$	111,068	100	%


	June 30,				March 31,				December 31,				September 30,				June 30,
(dollar amounts in millions)	2022				2022				2021				2021				2021
Ending Balances by Business Segment:
Commercial Banking	$	52,845	45	%	$	51,132	45	%	$	49,372	44	%	$	46,988	43	%	$	46,559	42	%
Consumer and Business Banking	32,144		28		31,756		29		32,715		30		34,267		31		35,961		32
Vehicle Finance	21,848		19		21,344		19		20,968		19		20,353		19		20,196		18
RBHPCG (Regional Banking and The Huntington Private Client Group)	9,181		8		8,435		7		8,012		7		7,743		7		7,394		7
Treasury / Other	203		—		150		—		200		—		207		—		958		1
Total loans and leases	$	116,221	100	%	$	112,817	100	%	$	111,267	100	%	$	109,558	100	%	$	111,068	100	%

Average Balances by Business Segment:
Commercial Banking	$	51,280	45	%	$	49,515	45	%	$	47,281	43	%	$	46,180	43	%	$	31,896	37	%
Consumer and Business Banking	31,926		28		32,134		29		33,434		31		35,544		32		28,905		33
Vehicle Finance	21,601		19		21,155		19		20,598		19		20,219		18		19,548		22
RBHPCG	8,786		8		8,178		7		7,842		7		7,527		7		6,840		8
Treasury / Other	356		—		160		—		333		—		198		—		205		—
Total loans and leases	$	113,949	100	%	$	111,142	100	%	$	109,488	100	%	$	109,668	100	%	$	87,394	100	%

Huntington Bancshares Incorporated

Deposits Composition

(Unaudited)


	June 30,				March 31,				December 31,				September 30,				June 30,
(dollar amounts in millions)	2022				2022				2021				2021				2021
Ending Balances by Type:
Demand deposits - noninterest-bearing	$	42,131	29	%	$	43,824	29	%	$	43,236	30	%	$	44,560	31	%	$	45,249	32	%
Demand deposits - interest-bearing	41,433		28		42,099		29		39,837		28		36,423		26		34,938		24
Money market deposits	34,257		24		33,444		23		32,522		23		32,662		23		33,616		24
Savings and other domestic deposits	21,583		15		21,716		15		21,088		15		20,773		15		20,876		15
Core certificates of deposit (1)	2,103		1		2,358		2		2,740		2		3,080		2		3,537		2
Total core deposits	141,507		97		143,441		98		139,423		98		137,498		97		138,216		97
Other domestic deposits of $250,000 or more	221		—		274		—		359		—		521		—		675		—
Negotiable CDS, brokered and other deposits	3,707		3		3,250		2		3,481		2		3,879		3		3,914		3

Total deposits	$	145,435	100	%	$	146,965	100	%	$	143,263	100	%	$	141,898	100	%	$	142,805	100	%
Total core deposits:
Commercial	$	63,629	45	%	$	64,013	45	%	$	61,521	44	%	$	61,210	45	%	$	61,055	44	%
Consumer	77,878		55		79,428		55		77,902		56		76,288		55		77,161		56
Total core deposits	$	141,507	100	%	$	143,441	100	%	$	139,423	100	%	$	137,498	100	%	$	138,216	100	%


	June 30,				March 31,				December 31,				September 30,				June 30,
(dollar amounts in millions)	2022				2022				2021				2021				2021
Ending Balances by Business Segment:
Commercial Banking	$	34,670	24	%	$	35,034	24	%	$	31,845	22	%	$	32,531	23	%	$	32,624	23	%
Consumer and Business Banking	95,693		66		96,907		65		95,352		67		94,439		67		95,693		67
Vehicle Finance	1,291		1		1,323		1		1,401		1		1,437		1		1,155		1
RBHPCG	9,226		6		9,672		7		10,162		7		9,025		6		8,416		6
Treasury / Other (2)	4,555		3		4,029		3		4,503		3		4,466		3		4,917		3
Total deposits	$	145,435	100	%	$	146,965	100	%	$	143,263	100	%	$	141,898	100	%	$	142,805	100	%

Average Balances by Business Segment:
Commercial Banking	$	35,156	24	%	$	33,355	23	%	$	31,950	22	%	$	32,867	23	%	$	27,372	24	%
Consumer and Business Banking	95,263		65		94,464		66		94,593		67		94,719		67		73,011		65
Vehicle Finance	1,257		1		1,289		1		1,501		1		1,328		1		1,035		1
RBHPCG	9,493		7		9,520		7		9,505		7		8,587		6		7,564		7
Treasury / Other (2)	3,839		3		4,289		3		4,754		3		4,802		3		3,696		3
Total deposits	$	145,008	100	%	$	142,917	100	%	$	142,303	100	%	$	142,303	100	%	$	112,678	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)
	June 30,		March 31,		December 31,		September 30,		June 30,		Percent Changes vs.
(dollar amounts in millions)	2022		2022		2021		2021		2021		1Q22		2Q21
Assets
Interest-bearing deposits at Federal Reserve Bank	$	3,532	$	7,195	$	7,227	$	11,536	$	7,636	(51)	%	(54)	%
Interest-bearing deposits in banks	161		174		521		466		319		(7)		(50)
Securities:
Trading account securities	30		46		51		49		48		(35)		(38)
Available-for-sale securities:
Taxable	21,672		24,205		23,895		20,147		20,096		(10)		8
Tax-exempt	2,859		2,886		3,057		3,116		2,832		(1)		1
Total available-for-sale securities	24,531		27,091		26,952		23,263		22,928		(9)		7


Held-to-maturity securities - taxable	17,234		14,556		12,421		11,964		7,280		18		137





Other securities	755		967		651		677		479		(22)		58
Total securities	42,550		42,660		40,075		35,953		30,735		—		38
Loans held for sale	1,033		1,243		1,381		1,525		1,294		(17)		(20)
Loans and leases: (2)
Commercial:
Commercial and industrial	42,689		41,397		40,582		40,597		34,126		3		25
Commercial real estate:
Commercial	13,516		13,186		12,758		12,891		7,773		3		74
Construction	1,760		1,877		1,820		1,803		1,310		(6)		34
Commercial real estate	15,276		15,063		14,578		14,694		9,083		1		68
Lease financing	4,919		4,912		4,933		4,983		2,798		—		76
Total commercial	62,884		61,372		60,093		60,274		46,007		2		37
Consumer:
Residential mortgage	20,527		19,505		18,955		18,886		13,768		5		49
Automobile	13,557		13,463		13,355		13,209		12,793		1		6
Home equity	10,373		10,414		10,748		11,106		9,375		—		11
RV and marine	5,317		5,103		5,040		4,998		4,447		4		20
Other consumer	1,291		1,285		1,297		1,195		1,004		—		29
Total consumer	51,065		49,770		49,395		49,394		41,387		3		23
Total loans and leases	113,949		111,142		109,488		109,668		87,394		3		30
Allowance for loan and lease losses	(2,053)		(2,047)		(2,112)		(2,219)		(1,828)		—		(12)
Net loans and leases	111,896		109,095		107,376		107,449		85,566		3		31
Total earning assets	161,225		162,414		158,692		159,148		127,378		(1)		27
Cash and due from banks	1,669		1,648		1,695		1,535		1,106		1		51
Goodwill and other intangible assets	5,613		5,584		5,570		5,578		3,055		1		84
All other assets	10,107		10,013		9,827		9,791		8,119		1		24
Total assets	$	176,561	$	177,612	$	173,672	$	173,833	$	137,830	(1)	%	28	%
Liabilities and shareholders’ equity
Interest-bearing deposits:
Demand deposits - interest-bearing	$	41,712	$	40,634	$	38,441	$	35,690	$	29,729	3	%	40	%
Money market deposits	33,791		32,672		32,400		33,281		28,124		3		20
Savings and other domestic deposits	21,683		21,316		20,896		20,931		15,190		2		43
Core certificates of deposit (3)	2,228		2,560		2,909		3,319		1,832		(13)		22

Other domestic deposits of $250,000 or more	225		316		452		582		259		(29)		(13)
Negotiable CDS, brokered and other deposits	2,981		3,453		3,843		3,905		2,986		(14)		—

Total interest-bearing deposits	102,620		100,951		98,941		97,708		78,120		2		31
Short-term borrowings	2,103		4,728		342		317		241		(56)		773
Long-term debt	7,024		6,914		7,674		7,587		6,887		2		2
Total interest-bearing liabilities	111,747		112,593		106,957		105,612		85,248		(1)		31
Demand deposits - noninterest-bearing	42,388		41,966		43,362		44,595		34,558		1		23
All other liabilities	4,168		3,964		3,957		3,823		2,608		5		60
Total Huntington Bancshares Inc shareholders’ equity	18,228		19,064		19,375		19,783		15,410		(4)		18
Non-controlling interest	30		25		21		20		6		20		400
Total equity	18,258		19,089		19,396		19,803		15,416		(4)		18
Total liabilities and shareholders’ equity	$	176,561	$	177,612	$	173,672	$	173,833	$	137,830	(1)	%	28	%

(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
	June 30,		March 31,		December 31,		September 30,		June 30,
(dollar amounts in millions)	2022		2022		2021		2021		2021
Assets
Interest-bearing deposits at Federal Reserve Bank	$	7	$	3	$	3	$	4	$	2
Interest-bearing deposits in banks	1		—		—		1		—
Securities:
Trading account securities	1		—		—		—		1
Available-for-sale securities:
Taxable	123		90		77		68		67
Tax-exempt	19		22		19		18		17
Total available-for-sale securities	142		112		96		86		84
Held-to-maturity securities - taxable	90		66		50		47		35



Other securities	6		5		4		2		2
Total securities	239		183		150		135		122
Loans held for sale	10		10		10		13		9
Loans and leases:
Commercial:
Commercial and industrial	415		392		393		419		319
Commercial real estate:
Commercial	115		97		102		105		60
Construction	16		17		17		17		12
Commercial real estate	131		114		119		122		72
Lease financing	61		61		61		61		36
Total commercial	607		567		573		602		427
Consumer:
Residential mortgage	158		146		141		139		104
Automobile	115		112		119		121		115
Home equity	115		102		109		113		89
RV and marine	55		52		54		55		46
Other consumer	30		28		29		29		27
Total consumer	473		440		452		457		381
Total loans and leases	1,080		1,007		1,025		1,059		808
Total earning assets	$	1,337	$	1,203	$	1,188	$	1,212	$	941

Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	$	11	$	3	$	3	$	3	$	4
Money market deposits	8		4		6		7		4
Savings and other domestic deposits	1		1		1		1		2
Core certificates of deposit (3)	—		1		—		(2)		1

Other domestic deposits of $250,000 or more	—		—		—		1		—
Negotiable CDS, brokered and other deposits	5		2		1		1		1

Total interest-bearing deposits	25		11		11		11		12
Short-term borrowings	7		7		1		—		—
Long-term debt	38		31		38		34		85
Total interest-bearing liabilities	70		49		50		45		97
Net interest income	$	1,267	$	1,154	$	1,138	$	1,167	$	844

(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
	June 30,		March 31,		December 31,		September 30,		June 30,
Fully-taxable equivalent basis (1)	2022		2022		2021		2021		2021
Assets
Interest-bearing deposits at Federal Reserve Bank	0.80	%	0.17	%	0.15	%	0.17	%	0.11	%
Interest-bearing deposits in banks	1.32		0.15		0.06		0.04		0.01
Securities:
Trading account securities	3.99		3.39		3.67		2.98		2.96
Available-for-sale securities:
Taxable	2.25		1.49		1.29		1.34		1.34
Tax-exempt	2.71		3.00		2.40		2.37		2.42
Total available-for-sale securities	2.30		1.65		1.42		1.48		1.47
Held-to-maturity securities - taxable	2.10		1.81		1.59		1.58		1.94



Other securities	3.62		1.88		2.18		1.43		1.72
Total securities	2.24		1.72		1.49		1.52		1.59
Loans held for sale	4.08		3.15		3.14		3.23		2.79
Loans and leases: (3)
Commercial:
Commercial and industrial	3.84		3.79		3.79		4.04		3.70
Commercial real estate:
Commercial	3.38		2.94		3.14		3.17		3.06
Construction	3.70		3.52		3.71		3.68		3.57
Commercial real estate	3.41		3.01		3.21		3.23		3.13
Lease financing	4.98		4.93		4.81		4.84		5.00
Total commercial	3.83		3.69		3.73		3.91		3.67
Consumer:
Residential mortgage	3.09		2.99		2.97		2.95		3.04
Automobile	3.40		3.38		3.53		3.62		3.62
Home equity	4.44		3.99		4.01		4.03		3.79
RV and marine	4.12		4.15		4.31		4.33		4.13
Other consumer	9.08		8.96		9.06		9.72		10.61
Total consumer	3.70		3.57		3.64		3.67		3.69
Total loans and leases	3.77		3.64		3.69		3.80		3.68
Total earning assets	3.33		3.00		2.97		3.02		2.96
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	0.10		0.03		0.03		0.04		0.04
Money market deposits	0.09		0.05		0.08		0.08		0.06
Savings and other domestic deposits	0.02		0.02		0.02		0.03		0.04
Core certificates of deposit (4)	0.07		0.14		—		(0.23)		0.19

Other domestic deposits of $250,000 or more	0.23		0.08		0.18		0.21		0.26
Negotiable CDS, brokered and other deposits	0.72		0.17		0.14		0.15		0.16

Total interest-bearing deposits	0.10		0.04		0.05		0.05		0.06
Short-term borrowings	1.40		0.57		0.09		0.14		0.47
Long-term debt	2.16		1.83		1.93		1.81		4.97
Total interest-bearing liabilities	0.25		0.18		0.18		0.17		0.45

Net interest rate spread	3.08		2.82		2.79		2.85		2.51
Impact of noninterest-bearing funds on margin	0.07		0.06		0.06		0.06		0.15
Net interest margin	3.15	%	2.88	%	2.85	%	2.91	%	2.66	%


Commercial Loan Derivative Impact
(Unaudited)
	Average Rates
	2022		2022		2021		2021		2021
Fully-taxable equivalent basis (1)	Second		First		Fourth		Third		Second
Commercial loans (2)(3)	3.69	%	3.47	%	3.53	%	3.65	%	3.27	%
Impact of commercial loan derivatives	0.14		0.22		0.20		0.26		0.40
Total commercial - as reported	3.83	%	3.69	%	3.73	%	3.91	%	3.67	%
Average 1 Month LIBOR	1.01	%	0.23	%	0.09	%	0.09	%	0.10	%

(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)	June 30,		March 31,		December 31,		September 30,		June 30,
	2022		2022		2021		2021		2021
Interest income	$	1,331	$	1,195	$	1,182	$	1,205	$	935
Interest expense	70		49		50		45		97
Net interest income	1,261		1,146		1,132		1,160		838
Provision for credit losses	67		25		(64)		(62)		211
Net interest income after provision for credit losses	1,194		1,121		1,196		1,222		627
Service charges on deposit accounts	105		97		101		114		88
Card and payment processing income	96		86		93		96		80
Mortgage banking income	44		49		61		81		67
Trust and investment management services	63		65		63		61		56
Capital markets fees	54		42		47		40		35
Insurance income	27		31		28		25		25
Leasing revenue	27		35		41		42		12
Bank owned life insurance income	11		17		22		15		16
Gain on sale of loans	12		28		1		2		3
Net gains (losses) on sales of securities	—		—		(1)		—		10
Other noninterest income	46		49		59		59		52
Total noninterest income	485		499		515		535		444
Personnel costs	577		580		632		643		592
Outside data processing and other services	153		165		269		304		162
Net occupancy	58		64		68		95		72
Equipment	61		81		68		79		55
Professional services	19		19		22		26		48
Marketing	24		21		35		25		15
Deposit and other insurance expense	20		18		18		17		8
Amortization of intangibles	13		14		14		13		11
Lease financing equipment depreciation	11		14		17		19		5
Other noninterest expense	82		77		78		68		104
Total noninterest expense	1,018		1,053		1,221		1,289		1,072
Income (loss) before income taxes	661		567		490		468		(1)
Provision for income taxes	120		105		88		90		14
Income (loss) after income taxes	541		462		402		378		(15)
Income attributable to non-controlling interest	2		2		1		1		—
Net income (loss) attributable to Huntington Bancshares Inc	539		460		401		377		(15)
Dividends on preferred shares	28		28		28		29		43
Impact of preferred stock redemption	—		—		(4)		15		—
Net income (loss) applicable to common shares	$	511	$	432	$	377	$	333	$	(58)

Average common shares - basic	1,441		1,438		1,444		1,463		1,125
Average common shares - diluted	1,463		1,464		1,471		1,487		1,125

Per common share
Net income (loss) - basic	$	0.35	$	0.30	$	0.26	$	0.23	$	(0.05)
Net income (loss) - diluted	0.35		0.29		0.26		0.22		(0.05)
Cash dividends declared	0.155		0.155		0.155		0.15		0.15

Revenue - fully-taxable equivalent (FTE)
Net interest income	$	1,261	$	1,146	$	1,132	$	1,160	$	838
FTE adjustment	6		8		6		7		6
Net interest income (1)	1,267		1,154		1,138		1,167		844
Noninterest income	485		499		515		535		444
Total revenue (1)	$	1,752	$	1,653	$	1,653	$	1,702	$	1,288

(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
	June 30,			March 31,			December 31,			September 30,			June 30,			Percent Changes vs.
(dollar amounts in millions)	2022			2022			2021			2021			2021			1Q22		2Q21
Net origination and secondary marketing income	$	27		$	37		$	56		$	80		$	70		(27)	%	(61)	%
Net mortgage servicing income
Loan servicing income	22			22			22			21			17			—		29
Amortization of capitalized servicing	(16)			(15)			(20)			(21)			(20)			(7)		20
Operating (expense) income	6			7			2			—			(3)			(14)		NM
MSR valuation adjustment	44			51			(1)			1			(24)			(14)		NM
Gains (losses) due to MSR hedging	(34)			(47)			2			(4)			22			28		NM
Net MSR risk management	10			4			1			(3)			(2)			150		NM
Total net mortgage servicing (expense) income	$	16		$	11		$	3		$	(3)		$	(5)		45	%	NM
All other	1			1			2			4			2			—		(50)
Mortgage banking income	$	44		$	49		$	61		$	81		$	67		(10)	%	(34)	%

Mortgage origination volume	$	3,366		$	2,881		$	3,880		$	4,467		$	4,007		17	%	(16)	%
Mortgage origination volume for sale	1,263			1,519			2,380			2,514			2,265			(17)		(44)

Third party mortgage loans serviced (1)	31,704			31,570			31,017			30,554			30,398			—		4
Mortgage servicing rights (1)	463			416			351			338			327			11		42
MSR % of investor servicing portfolio (1)	1.46		%	1.32		%	1.13		%	1.11		%	1.08		%	11	%	35	%

NM - Not Meaningful

(1)At period end.

Huntington Bancshares Incorporated

Quarterly Credit Reserves Analysis

(Unaudited)


	Three Months Ended
	June 30,			March 31,			December 31,			September 30,			June 30,
(dollar amounts in millions)	2022			2022			2021			2021			2021
Allowance for loan and lease losses, beginning of period	$	2,018		$	2,030		$	2,107		$	2,218		$	1,703

Loan and lease charge-offs	(52)			(81)			(79)			(106)			(102)
Recoveries of loans and leases previously charged-off	44			62			45			51			40
Net loan and lease charge-offs	(8)			(19)			(34)			(55)			(62)
Provision (benefit) for loan and lease losses	64			7			(43)			(56)			145
Allowance on PCD loans and leases at acquisition	—			—			—			—			432

Allowance for loan and lease losses, end of period	2,074			2,018			2,030			2,107			2,218
Allowance for unfunded lending commitments, beginning of period	91			77			98			104			38

Provision (reduction in allowance) for unfunded lending commitments	3			14			(21)			(6)			66


Allowance for unfunded lending commitments, end of period	94			91			77			98			104
Total allowance for credit losses, end of period	$	2,168		$	2,109		$	2,107		$	2,205		$	2,322
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases	1.78		%	1.79		%	1.82		%	1.92		%	2.00		%
Nonaccrual loans and leases (NALs)	316			296			284			245			227
Nonperforming assets (NPAs)	304			285			271			236			219
Total allowance for credit losses (ACL) as % of:
Total loans and leases	1.87		%	1.87		%	1.89		%	2.01		%	2.09		%
Nonaccrual loans and leases (NALs)	330			309			294			256			238
Nonperforming assets (NPAs)	318			298			281			247			229


	Three Months Ended
	June 30,		March 31,		December 31,		September 30,		June 30,
(dollar amounts in millions)	2022		2022		2021		2021		2021
Allocation of allowance for credit losses
Commercial
Commercial and industrial	$	804	$	937	$	832	$	801	$	1,030
Commercial real estate	498		521		586		678		499
Lease financing	40		56		44		70		89
Total commercial	1,342		1,514		1,462		1,549		1,618
Consumer
Residential mortgage	177		139		145		127		125
Automobile	146		101		108		122		141
Home equity	131		60		88		108		140
RV and marine	147		96		105		111		114
Other consumer	131		108		122		90		80
Total consumer	732		504		568		558		600
Total allowance for loan and lease losses	2,074		2,018		2,030		2,107		2,218
Allowance for unfunded lending commitments	94		91		77		98		104
Total allowance for credit losses	$	2,168	$	2,109	$	2,107	$	2,205	$	2,322

Huntington Bancshares Incorporated

Quarterly Net Charge-Off Analysis

(Unaudited)


	Three Months Ended
	June 30,			March 31,			December 31,			September 30,			June 30,
(dollar amounts in millions)	2022			2022			2021			2021			2021
Net charge-offs (recoveries) by loan and lease type:
Commercial:
Commercial and industrial	$	(4)		$	(23)		$	6		$	28		$	37



Commercial real estate	(4)			8			(4)			7			17
Lease financing	(3)			5			3			12			5
Total commercial	(11)			(10)			5			47			59
Consumer:
Residential mortgage	(1)			—			(1)			—			—
Automobile	—			—			—			(4)			(4)
Home equity	(2)			(1)			(1)			(3)			(1)
RV and marine	1			3			2			—			—
Other consumer	21			27			29			15			8
Total consumer	19			29			29			8			3
Total net charge-offs	$	8		$	19		$	34		$	55		$	62


	Three Months Ended
	June 30,			March 31,			December 31,			September 30,			June 30,
	2022			2022			2021			2021			2021
Net charge-offs (recoveries) - annualized percentages:
Commercial:
Commercial and industrial	(0.04)		%	(0.22)		%	0.06		%	0.28		%	0.43		%



Commercial real estate	(0.11)			0.22			(0.12)			0.21			0.69
Lease financing	(0.24)			0.40			0.24			0.87			0.93
Total commercial	(0.07)			(0.06)			0.03			0.31			0.51
Consumer:
Residential mortgage	(0.02)			—			(0.01)			—			—
Automobile	—			0.01			(0.03)			(0.10)			(0.13)
Home equity	(0.08)			(0.03)			(0.04)			(0.08)			(0.08)
RV and marine	0.10			0.20			0.13			(0.01)			0.02
Other consumer	6.60			8.46			9.21			4.84			3.26
Total consumer	0.15			0.23			0.23			0.07			0.02
Net charge-offs as a % of average loans	0.03		%	0.07		%	0.12		%	0.20		%	0.28		%

Huntington Bancshares Incorporated

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

(Unaudited)


	June 30,			March 31,			December 31,			September 30,			June 30,
(dollar amounts in millions)	2022			2022			2021			2021			2021
Nonaccrual loans and leases (NALs):
Commercial and industrial	$	324		$	323		$	370		$	494		$	591
Commercial real estate	117			114			104			103			83
Lease financing	22			38			48			60			74
Residential mortgage	111			117			111			108			130
Automobile	4			4			3			3			3
Home equity	78			84			79			87			91
RV and marine	1			2			1			6			5

Total nonaccrual loans and leases	657			682			716			861			977
Other real estate, net:
Residential	11			10			8			6			5
Commercial	—			1			1			1			2
Total other real estate, net	11			11			9			7			7
Other NPAs (2)	14			15			25			25			30
Total nonperforming assets	$	682		$	708		$	750		$	893		$	1,014

Nonaccrual loans and leases as a % of total loans and leases	0.57		%	0.60		%	0.64		%	0.79		%	0.88		%
NPA ratio (3)	0.59			0.63			0.67			0.82			0.91
(NPA+90days)/(Loan+OREO) (4)	0.77			0.88			0.86			0.97			1.05


	Three Months Ended
	June 30,		March 31,		December 31,		September 30,		June 30,
(dollar amounts in millions)	2022		2022		2021		2021		2021
Nonperforming assets, beginning of period	$	708	$	750	$	893	$	1,014	$	544
New nonperforming assets	181		204		146		195		116
Acquired NPAs	—		—		—		—		629

Returns to accruing status	(81)		(57)		(99)		(125)		(46)
Charge-offs	(26)		(32)		(35)		(51)		(77)
Payments	(97)		(155)		(152)		(128)		(81)
Sales	(3)		(2)		(3)		(12)		(71)

Nonperforming assets, end of period	$	682	$	708	$	750	$	893	$	1,014

(1)December 31, 2021 and all periods prior generally exclude loans and leases 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)


	June 30,			March 31,			December 31,			September 30,			June 30,
(dollar amounts in millions)	2022			2022			2021			2021			2021
Accruing loans and leases past due 90+ days:
Commercial and industrial	$	11		$	10		$	13		$	6		$	1

Lease financing	10			12			11			12			14
Residential mortgage (excluding loans guaranteed by the U.S. Government)	14			25			25			16			17
Automobile	6			6			6			5			4
Home equity	13			12			17			10			9
RV and marine	2			1			3			2			1
Other consumer	2			2			3			2			2
Total, excl. loans guaranteed by the U.S. Government	58			68			78			53			48
Add: loans guaranteed by U.S. Government	154			212			132			122			100
Total accruing loans and leases past due 90+ days, including loans guaranteed by the U.S. Government	$	212		$	280		$	210		$	175		$	148

Ratios:
Excluding loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.05		%	0.06		%	0.07		%	0.05		%	0.04		%
Guaranteed by U.S. Government, as a percent of total loans and leases	0.13			0.19			0.12			0.11			0.09
Including loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.18			0.25			0.19			0.16			0.13

Huntington Bancshares Incorporated

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

(Unaudited)


	June 30,			March 31,			December 31,			September 30,			June 30,
(dollar amounts in millions)	2022			2022			2021			2021			2021
Common equity tier 1 risk-based capital ratio: (1)
Total shareholders’ equity	$	17,950		$	18,452		$	19,297		$	19,479		$	20,511
Regulatory capital adjustments:
CECL transitional amount (2)	328			328			437			440			459
Shareholders’ preferred equity	(2,177)			(2,177)			(2,177)			(2,281)			(2,866)
Accumulated other comprehensive income (loss) offset	2,098			1,314			230			125			19
Goodwill and other intangibles, net of related taxes	(5,686)			(5,474)			(5,484)			(5,477)			(5,479)
Deferred tax assets that arise from tax loss and credit carryforwards	(36)			(46)			(54)			(36)			(48)
Common equity tier 1 capital	12,477			12,397			12,249			12,250			12,596
Additional tier 1 capital
Shareholders’ preferred equity	2,177			2,177			2,177			2,281			2,866


Tier 1 capital	14,654			14,574			14,426			14,531			15,462
Long-term debt and other tier 2 qualifying instruments	1,462			1,464			1,539			1,552			1,062
Qualifying allowance for loan and lease losses	1,541			1,485			1,281			1,290			1,345
Tier 2 capital	3,003			2,949			2,820			2,842			2,407
Total risk-based capital	$	17,657		$	17,523		$	17,246		$	17,373		$	17,869
Risk-weighted assets (RWA)(1)	$	137,841		$	134,484		$	131,266		$	128,023		$	126,241
Common equity tier 1 risk-based capital ratio (1)	9.05		%	9.22		%	9.33		%	9.57		%	9.98		%
Other regulatory capital data:
Tier 1 leverage ratio (1)	8.46			8.43			8.56			8.62			11.65
Tier 1 risk-based capital ratio (1)	10.63			10.84			10.99			11.35			12.25
Total risk-based capital ratio (1)	12.81			13.03			13.14			13.57			14.15
Non-regulatory capital data:
Tangible common equity / RWA ratio (1)	7.28			8.00			8.83			9.14			9.61

(1)June 30, 2022, figures are estimated.

(2)Upon adoption in 2020, Huntington elected to temporarily delay certain effects of CECL on regulatory capital, utilizing a two-year delay followed by a three-year transition period. January 1, 2022 began the three-year transition period, whereby 100% of the day-one impact of adopting CECL and 25% of the cumulative change in the reported allowance for credit losses since adopting CECL will be recognized over the three-year transition period. As of March 31, 2022 and June 30, 2022, 25% of the cumulative CECL deferral has been phased in.

Huntington Bancshares Incorporated

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

(Unaudited)

Quarterly common stock summary


	June 30,		March 31,		December 31,		September 30,		June 30,
	2022		2022		2021		2021		2021






Cash dividends declared per common share	$	0.155	$	0.155	$	0.155	$	0.15	$	0.15
Common shares outstanding (in millions)
Average - basic	1,441		1,438		1,444		1,463		1,125
Average - diluted	1,463		1,464		1,471		1,487		1,125
Ending	1,442		1,439		1,438		1,446		1,477
Tangible book value per common share (1)	$	6.96	$	7.47	$	8.06	$	8.09	$	8.22
Common share repurchases (in millions)
Number of shares repurchased	—		—		10		33		—

Non-regulatory capital


	June 30,			March 31,			December 31,			September 30,			June 30,
(dollar amounts in millions)	2022			2022			2021			2021			2021
Calculation of tangible equity / asset ratio:
Total shareholders’ equity	$	17,950		$	18,452		$	19,297		$	19,479		$	20,511
Goodwill and other intangible assets	(5,788)			(5,577)			(5,591)			(5,571)			(5,585)

Deferred tax liability on other intangible assets (1)	46			48			51			54			56
Total tangible equity	12,208			12,923			13,757			13,962			14,982
Preferred equity	(2,167)			(2,167)			(2,167)			(2,267)			(2,851)
Total tangible common equity	$	10,041		$	10,756		$	11,590		$	11,695		$	12,131
Total assets	$	178,782		$	176,856		$	174,064		$	173,878		$	175,172
Goodwill and other intangible assets	(5,788)			(5,577)			(5,591)			(5,571)			(5,585)
Deferred tax liability on other intangible assets (1)	46			48			51			54			56
Total tangible assets	$	173,040		$	171,327		$	168,524		$	168,361		$	169,643
Tangible equity / tangible asset ratio	7.06		%	7.54		%	8.16		%	8.29		%	8.83		%
Tangible common equity / tangible asset ratio	5.80			6.28			6.88			6.95			7.15
Other data:
Number of employees (Average full-time equivalent)	19,866			19,722			20,309			20,908			17,018
Number of domestic full-service branches (2)	1,032			1,030			1,092			1,236			1,239
ATM Count	1,731			1,729			1,756			2,317			2,340

(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 Year To Date Average Balance Sheets

(Unaudited)


	YTD Average Balances (1)
	Six Months Ended June 30,				Change
(dollar amounts in millions)	2022		2021		Amount		Percent
Assets
Interest-bearing deposits at Federal Reserve Bank	$	5,354	$	6,855	$	(1,501)	(22)	%
Interest-bearing deposits in banks	168		248		(80)		(32)
Securities:
Trading account securities	38		50		(12)		(24)
Available-for-sale securities:
Taxable	22,931		17,476		5,455		31
Tax-exempt	2,873		2,742		131		5
Total available-for-sale securities	25,804		20,218		5,586		28


Held-to-maturity securities - taxable	15,902		7,772		8,130		105





Other securities	860		447		413		92
Total securities	42,604		28,487		19,703		50
Loans held for sale	1,137		1,343		(206)		(15)
Loans and leases: (2)
Commercial:
Commercial and industrial	42,047		33,145		8,902		27
Commercial real estate:
Commercial	13,352		6,952		6,400		92
Construction	1,818		1,182		636		54
Commercial real estate	15,170		8,134		7,036		87
Lease financing	4,915		2,500		2,415		97
Total commercial	62,132		43,779		18,353		42
Consumer:
Residential mortgage	20,019		12,936		7,083		55
Automobile	13,510		12,729		781		6
Home equity	10,394		9,093		1,301		14
RV and marine	5,210		4,320		890		21
Other consumer	1,288		988		300		30
Total consumer	50,421		40,066		10,355		26
Total loans and leases	112,553		83,845		28,708		34
Allowance for loan and lease losses	(2,050)		(1,818)		(232)		(13)
Net loans and leases	110,503		82,027		28,476		35
Total earning assets	161,816		120,778		41,038		34
Cash and due from banks	1,659		1,093		566		52
Goodwill and other intangible assets	5,598		2,618		2,980		114
All other assets	10,061		7,783		2,278		29
Total assets	$	177,084	$	130,454	46,630		36	%
Liabilities and shareholders’ equity
Interest-bearing deposits:
Demand deposits - interest-bearing	$	41,176	$	28,279	$	12,897	46	%
Money market deposits	33,235		27,190		6,045		22
Savings and other domestic deposits	21,501		13,743		7,758		56
Core certificates of deposit (3)	2,393		1,487		906		61

Other domestic deposits of $250,000 or more	270		309		(39)		(13)
Negotiable CDS, brokered and other deposits	3,216		3,169		47		1

Total interest-bearing deposits	101,791		74,177		27,614		37
Short-term borrowings	3,408		224		3,184		NM
Long-term debt	6,969		7,324		(355)		(5)
Total interest-bearing liabilities	112,168		81,725		30,443		37
Demand deposits - noninterest-bearing	42,177		31,841		10,336		32
All other liabilities	4,068		2,512		1,556		62
Total Huntington Bancshares Inc shareholders’ equity	18,644		14,373		4,271		30
Non-controlling interest	27		3		24		NM
Total equity	$	18,671	$	14,376	$	4,295	30
Total liabilities and shareholders’ equity	$	177,084	$	130,454	$	46,630	36	%

NM - Not Meaningful

(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
	Six Months Ended June 30,
(dollar amounts in millions)	2022		2021
Assets
Interest-bearing deposits at Federal Reserve Bank	$	10	$	4
Interest-bearing deposits in banks	1		—
Securities:
Trading account securities	1		1
Available-for-sale securities:
Taxable	213		116
Tax-exempt	41		34
Total available-for-sale securities	254		150
Held-to-maturity securities - taxable	156		77



Other securities	11		4
Total securities	422		232
Loans held for sale	20		18
Loans and leases:
Commercial:
Commercial and industrial	807		634
Commercial real estate:
Commercial	212		100
Construction	33		21
Commercial real estate	245		121
Lease financing	122		64
Total commercial	1,174		819
Consumer:
Residential mortgage	304		199
Automobile	227		231
Home equity	217		169
RV and marine	107		90
Other consumer	58		54
Total consumer	913		743
Total loans and leases	2,087		1,562
Total earning assets	$	2,540	$	1,816
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	$	14	$	6
Money market deposits	12		8
Savings and other domestic deposits	2		3
Core certificates of deposit (3)	1		3

Other domestic deposits of $250,000 or more	—		—
Negotiable CDS, brokered and other deposits	7		3

Total interest-bearing deposits	36		23
Short-term borrowings	14		—
Long-term debt	69		(29)
Total interest-bearing liabilities	119		(6)

Net interest income	$	2,421	$	1,822

(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
	Six Months Ended June 30,
Fully-taxable equivalent basis (1)	2022		2021
Assets
Interest-bearing deposits in Federal Reserve Bank	0.38	%	0.11	%
Interest-bearing deposits in banks	0.71		0.03
Securities:
Trading account securities	3.63		3.32
Available-for-sale securities:
Taxable	1.85		1.33
Tax-exempt	2.86		2.46
Total available-for-sale securities	1.96		1.48
Held-to-maturity securities - taxable	1.97		1.98



Other securities	2.64		1.69
Total securities	1.98		1.63
Loans held for sale	3.58		2.71
Loans and leases: (3)
Commercial:
Commercial and industrial	3.82		3.80
Commercial real estate:
Commercial	3.16		2.87
Construction	3.61		3.50
Commercial real estate	3.22		2.96
Lease financing	4.95		5.08
Total commercial	3.76		3.72
Consumer:
Residential mortgage	3.04		3.08
Automobile	3.39		3.67
Home equity	4.21		3.75
RV and marine	4.14		4.21
Other consumer	9.02		10.89
Total consumer	3.64		3.73
Total loans and leases	3.71		3.73
Total earning assets	3.17	%	3.03	%
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	0.07	%	0.04	%
Money market deposits	0.07		0.06
Savings and other domestic deposits	0.02		0.04
Core certificates of deposit (4)	0.10		0.36

Other domestic deposits of $250,000 or more	0.19		0.15
Negotiable CDS, brokered and other deposits	0.42		0.17

Total interest-bearing deposits	0.07		0.06
Short-term borrowings	0.83		0.34
Long-term debt	1.99		(0.78)
Total interest-bearing liabilities	0.21		(0.02)

Net interest rate spread	2.96		3.05
Impact of noninterest-bearing funds on margin	0.06		(0.01)
Net interest margin	3.02	%	3.04	%


Commercial Loan Derivative Impact
(Unaudited)
	YTD Average Rates
	Six Months Ended June 30,
Fully-taxable equivalent basis (1)	2022		2021
Commercial loans (2)(3)	3.58	%	3.25	%
Impact of commercial loan derivatives	0.18		0.47
Total commercial - as reported	3.76	%	3.72	%
Average 1 Month LIBOR	0.61	%	0.11	%

(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)


	Six Months Ended June 30,				Change
(dollar amounts in millions, except per share data)	2022		2021		Amount		Percent
Interest income	$	2,526	$	1,804	$	722	40	%
Interest expense	119		(6)		125		NM
Net interest income	2,407		1,810		597		33
Provision for credit losses	92		151		(59)		(39)
Net interest income after provision for credit losses	2,315		1,659		656		40
Service charges on deposit accounts	202		157		45		29
Card and payment processing income	182		145		37		26
Mortgage banking income	93		167		(74)		(44)
Trust and investment management services	128		108		20		19
Capital markets fees	96		64		32		50
Insurance income	58		52		6		12
Leasing revenue	62		16		46		288
Bank owned life insurance income	28		32		(4)		(13)
Gain on sale of loans	40		6		34		567
Net gains (losses) on sales of securities	—		10		(10)		(100)
Other noninterest income	95		82		13		16
Total noninterest income	984		839		145		17
Personnel costs	1,157		1,060		97		9
Outside data processing and other services	318		277		41		15
Net occupancy	122		114		8		7
Equipment	142		101		41		41
Professional services	38		65		(27)		(42)
Marketing	45		29		16		55
Deposit and other insurance expense	38		16		22		138
Amortization of intangibles	27		21		6		29
Lease financing equipment depreciation	25		5		20		400
Other noninterest expense	159		177		(18)		(10)
Total noninterest expense	2,071		1,865		206		11
Income before income taxes	1,228		633		595		94
Provision for income taxes	225		116		109		94
Income after income taxes	1,003		517		486		94
Income attributable to non-controlling interest	4		—		4		100
Net income attributable to Huntington Bancshares Inc	999		517		482		93
Dividends on preferred shares	56		74		(18)		(24)

Net income applicable to common shares	$	943	$	443	$	500	113	%
Average common shares - basic	1,440		1,071		369		34
Average common shares - diluted	1,464		1,094		370		34
Per common share
Net income - basic	$	0.65	$	0.41	$	0.24	59	%
Net income - diluted	0.64		0.40		0.24		60
Cash dividends declared	0.31		0.30		0.01		3
Revenue - fully taxable equivalent (FTE)
Net interest income	$	2,407	$	1,810	$	597	33	%
FTE adjustment (1)	14		12		2		17
Net interest income	2,421		1,822		599		33
Noninterest income	984		839		145		17
Total revenue (1)	$	3,405	$	2,661	$	744	28	%

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

Huntington Bancshares Incorporated

Year To Date Mortgage Banking Noninterest Income

(Unaudited)


	Six Months Ended June 30,						Change
(dollar amounts in millions)	2022			2021			Amount			Percent
Net origination and secondary marketing income	$	64		$	164		$	(100)		(61)	%
Net mortgage servicing income
Loan servicing income	44			34			10			29
Amortization of capitalized servicing	(31)			(40)			9			23
Operating (expense) income	13			(6)			19			NM
MSR valuation adjustment (1)	95			27			68			NM
(Losses) gains due to MSR hedging	(81)			(24)			(57)			NM
Net MSR risk management	14			3			11			NM
Total net mortgage servicing income	$	27		$	(3)		$	30		NM
All other	2			6			(4)			(67)
Mortgage banking income	$	93		$	167		$	(74)		(44)	%

Mortgage origination volume	$	6,247		$	8,049		$	(1,802)		(22)	%
Mortgage origination volume for sale	2,782			4,934			(2,152)			(44)

Third party mortgage loans serviced (2)	31,704			30,398			1,306			4
Mortgage servicing rights (2)	463			327			136			42
MSR % of investor servicing portfolio	1.46		%	1.08		%	0.38		%	35	%

NM - Not Meaningful

(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)


	Six Months Ended June 30,
(dollar amounts in millions)	2022			2021
Allowance for loan and lease losses, beginning of period	$	2,030		$	1,814

Loan and lease charge-offs	(133)			(197)
Recoveries of loans and leases previously charged off	106			71
Net loan and lease charge-offs	(27)			(126)
Provision for loan and lease losses	71			98
Allowance on loans and leases purchased with credit deterioration	—			432

Allowance for loan and lease losses, end of period	2,074			2,218
Allowance for unfunded lending commitments, beginning of period	$	77		$	52

Provision for unfunded lending commitments	17			53

Unfunded lending commitment losses	—			(1)
Allowance for unfunded lending commitments, end of period	94			104
Total allowance for credit losses	$	2,168		$	2,322
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases	1.78		%	2.00		%
Nonaccrual loans and leases (NALs)	316			227
Nonperforming assets (NPAs)	304			219
Total allowance for credit losses (ACL) as % of:
Total loans and leases	1.87		%	2.09		%
Nonaccrual loans and leases (NALs)	330			238
Nonperforming assets (NPAs)	318			229

Huntington Bancshares Incorporated

Year To Date Net Charge-Off Analysis

(Unaudited)


	Six Months Ended June 30,
(dollar amounts in millions)	2022			2021
Net charge-offs (recoveries) by loan and lease type:
Commercial:
Commercial and industrial	$	(27)		$	65



Commercial real estate	4			14
Lease financing	2			29
Total commercial	(21)			108
Consumer:
Residential mortgage	(1)			—
Automobile	—			(2)
Home equity	(3)			(1)
RV and marine	4			3
Other consumer	48			18
Total consumer	48			18
Total net charge-offs	$	27		$	126


	Six Months Ended June 30,
	2022			2021
Net charge-offs (recoveries) - annualized percentages:
Commercial:
Commercial and industrial	(0.13)		%	0.39		%



Commercial real estate	0.05			0.32
Lease financing	0.08			2.42
Total commercial	(0.07)			0.49
Consumer:
Residential mortgage	(0.01)			0.01
Automobile	—			(0.04)
Home equity	(0.05)			(0.03)
RV and marine	0.15			0.15
Other consumer	7.53			3.62
Total consumer	0.19			0.09
Net charge-offs as a % of average loans	0.05		%	0.30		%

Huntington Bancshares Incorporated

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

(Unaudited)


	June 30,
(dollar amounts in millions)	2022			2021
Nonaccrual loans and leases (NALs):
Commercial and industrial	$	324		$	591
Commercial real estate	117			83
Lease financing	22			74
Residential mortgage	111			130
Automobile	4			3
Home equity	78			91
RV and marine	1			5
Other consumer	—			—
Total nonaccrual loans and leases	657			977
Other real estate, net:
Residential	11			5
Commercial	—			2
Total other real estate, net	11			7
Other NPAs (1)	14			30
Total nonperforming assets (3)	$	682		$	1,014

Nonaccrual loans and leases as a % of total loans and leases	0.57		%	0.88		%
NPA ratio (2)	0.59			0.91


	Six Months Ended June 30,
(dollar amounts in millions)	2022		2021
Nonperforming assets, beginning of period	$	750	$	563
New nonperforming assets	385		245
Acquired NPAs	—		629
Transfer to OREO	—		—
Returns to accruing status	(138)		(79)
Charge-offs	(58)		(129)
Payments	(252)		(136)
Sales and held-for-sale transfers	(5)		(79)
Nonperforming assets, end of period (2)	$	682	$	1,014

(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.

Huntington Bancshares Incorporated

Reconciliation of Non-GAAP Financial Measures

(Unaudited)

Huntington believes certain non-GAAP financial measures to be helpful in understanding Huntington’s results of operations. The following tables provide the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure.


	Three months ended					Change (%)
($ in millions)	June 30, 2022			March 31, 2022
Pre-Provision Net Revenue (PPNR)
Total revenue	$	1,746		$	1,645
FTE adjustment	6			8
Total revenue (FTE) (a)	1,752			1,653
Less: net gain/(loss) on securities	—			—
Total revenue (FTE), excluding net gain/(loss) on securities (b)	1,752			1,653

Noninterest expense (c)	1,018			1,053


Less: Notable items	24			46
Noninterest expense, excluding notable items (d)	994			1,007

PPNR (a-c)	734			600
PPNR, adjusted (b-d)	758			646			17	%

Return on Tangible Common Equity (ROTCE)
Average common shareholders' equity	$	16,062
Less: intangible assets and goodwill, net of deferred tax	5,566
Average tangible common shareholders' equity (e)	$	10,496

Net income applicable to common shares	$	511
Add: amortization of intangibles, net of deferred tax	10
Net income, excluding amortization of intangibles (f)	521
Add: Notable items, after tax	19
Net income, excluding amortization of intangibles and notable items (g)	$	540

ROTCE, annualized (f/e)	19.9		%
Adjusted ROTCE, annualized (g/e)	20.6		%

Form: 8-K

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