Form: 8-K

Current report filing

October 21, 2022

Documents


Exhibit 99.2
HUNTINGTON BANCSHARES INCORPORATED
Quarterly Financial Supplement
September 30, 2022
Table of Contents
Quarterly Accruing Past Due Loans and Leases


Notes:
The preparation of financial statement data in conformity with accounting principles generally accepted in the United States (GAAP) requires management to make estimates and assumptions that affect amounts reported. Actual results could differ from those estimates. Certain prior period amounts have been reclassified to conform to the current period’s presentation.
Fully-Taxable Equivalent Basis
Interest income, yields, and ratios on a FTE basis are considered non-GAAP financial measures.  Management believes net interest income on a FTE basis provides a more accurate picture of the interest margin for comparison purposes.  The FTE basis also allows management to assess the comparability of revenue arising from both taxable and tax-exempt sources.  The FTE basis assumes a federal statutory tax rate of 21%.
Non-Regulatory Capital Ratios
In addition to capital ratios defined by banking regulators, the Company considers various other measures when evaluating capital utilization and adequacy, including:
•Tangible common equity to tangible assets, and
•Tangible common equity to risk-weighted assets using Basel III definition.
These non-regulatory capital ratios are viewed by management as useful additional methods of reflecting the level of capital available to withstand unexpected market conditions. Additionally, presentation of these ratios allows readers to compare the Company’s capitalization to other financial services companies. These ratios differ from capital ratios defined by banking regulators principally in that the numerator excludes preferred securities, the nature and extent of which varies among different financial services companies. These ratios are not defined in GAAP or federal banking regulations. As a result, these non-regulatory capital ratios disclosed by the Company may be considered non-GAAP financial measures.
Because there are no standardized definitions for these non-regulatory capital ratios, the Company’s calculation methods may differ from those used by other financial services companies. Also, there may be limits in the usefulness of these measures to investors. As a result, the Company encourages readers to consider the consolidated financial statements and other financial information contained in the related press release in their entirety, and not to rely on any single financial measure.





Huntington Bancshares Incorporated
Quarterly Key Statistics
(Unaudited)
Three Months Ended
(dollar amounts in millions, except per share data) September 30, June 30, September 30, Percent Changes vs.
2022 2022 2021 2Q22 3Q21
Net interest income (2)
 $ 1,412  $ 1,267  $ 1,167  11  % 21  %
FTE adjustment (8) (6) (7) (33) (14)
Net interest income
 1,404  1,261  1,160  11  21 
Provision for credit losses 106  67  (62) 58  271 
Noninterest income 498  485  535  3  (7)
Noninterest expense 1,053  1,018  1,289  3  (18)
Income before income taxes 743  661  468  12  59 
Provision for income taxes 146  120  90  22  62 
Income after income taxes 597  541  378  10  58 
Income attributable to non-controlling interest 3  2  1  50  NM
Net income attributable to Huntington Bancshares Inc 594  539  377  10  58 
Dividends on preferred shares 29  28  29  4  — 
Impact of preferred stock redemption —  —  15  —  (100)
Net income applicable to common shares $ 565  $ 511  $ 333  11  % 70 
Net income per common share - diluted $ 0.39  $ 0.35  $ 0.22  11  % 77  %
Cash dividends declared per common share
 0.155  0.155  0.15  —  3 
Tangible book value per common share at end of period
 6.40  6.96  8.09  (8) (21)
Number of common shares repurchased
 —  —  33  —  (100)
Average common shares - basic
1,443  1,441  1,463  —  (1)
Average common shares - diluted
1,465  1,463  1,487  —  (1)
Ending common shares outstanding
1,443  1,442  1,446  —  — 
Return on average assets
 1.31  % 1.22  % 0.86  %
Return on average common shareholders’ equity
 13.9  12.8  7.6 
Return on average tangible common shareholders’ equity (1)
21.9  19.9  11.5 
Net interest margin (2)
 3.42  3.15  2.91 
Efficiency ratio (3)
 54.4  57.3  74.9 
Effective tax rate 19.7  18.1  19.0 
Average total assets
$ 179,557  $ 176,561  $ 173,833  2  3 
Average earning assets
164,024  161,225  159,148  2  3 
Average loans and leases
116,964  113,949  109,668  3  7 
Average loans and leases - linked quarter annualized growth rate
 10.6  % 10.1  % 102.0  %
Average total deposits
$ 146,008  $ 145,008  $ 142,303  1  3 
Average core deposits (4) 141,691  141,802  137,816  —  3 
Average core deposits - linked quarter annualized growth rate
 (0.3) % 7.6  % 103.7  %
Average shareholders’ equity
18,317  18,228  19,783  —  (7)
Average common total shareholders' equity
 16,150  16,062  17,428  1  (7)
Average tangible common shareholders' equity
10,413  10,496  11,905  (1) (13)
Total assets at end of period
179,402  178,782  173,878  —  3 
Total shareholders’ equity at end of period
17,136  17,950  19,479  (5) (12)
NCOs as a % of average loans and leases
 0.15  % 0.03  % 0.20  %
NAL ratio
 0.51  0.57  0.79 
NPA ratio (5) 0.53  0.59  0.82 
Allowance for loan and lease losses (ALLL) as a % of total loans and leases at the end of period
 1.79  1.78  1.92 
Allowance for credit losses (ACL) as a % of total loans and leases at the end of period 1.89  1.87  2.01 
Common equity tier 1 risk-based capital ratio (6) 9.27  9.05  9.57 
Tangible common equity / tangible asset ratio (7) 5.32  5.80  6.95 
NM - Not Meaningful
See Notes to the Quarterly Key Statistics.
1

Huntington Bancshares Incorporated
Year to Date Key Statistics
(Unaudited)
Nine Months Ended September 30,
Change
(dollar amounts in millions, except per share data) 2022 2021
Amount
Percent
Net interest income (2)
 $ 3,833  $ 2,989  $ 844  28  %
FTE adjustment (22) (19) (3) (16)
Net interest income
 3,811  2,970  841  28 
Provision for credit losses 198  89  109  122 
Noninterest income 1,482  1,374  108  8 
Noninterest expense 3,124  3,154  (30) (1)
Income before income taxes
 1,971  1,101  870  79 
Provision for income taxes 371  206  165  80 
Income after income taxes 1,600  895  705  79 
Income attributable to non-controlling interest 7  1  6  NM
Net income attributable to Huntington Bancshares Inc 1,593  894  699  78 
Dividends on preferred shares 85  103  (18) (17)
Impact of preferred stock redemption —  15  (15) (100)
Net income applicable to common shares
 $ 1,508  $ 776  $ 732  94  %
Net income per common share - diluted
 $ 1.03  $ 0.63  $ 0.40  63  %
Cash dividends declared per common share
 0.465  0.45  0.015  3 
Average common shares - basic
 1,441  1,202  239  20 
Average common shares - diluted
1,464  1,225  239  20 
Return on average assets
 1.20  % 0.82  %
Return on average common shareholders’ equity
 12.3  7.5 
Return on average tangible common shareholders’ equity (1)
 19.1  10.6 
Net interest margin (2)
 3.15  2.99 
Efficiency ratio (3)
 58.0  71.7 
Effective tax rate
 18.8  18.7 
Average total assets
$ 177,917  $ 145,072  $ 32,845  23  %
Average earning assets
 162,560  133,709  28,851  22 
Average loans and leases
114,039  92,548  21,491  23 
Average total deposits
144,656  118,246  26,410  22 
Average core deposits (4) 140,890  114,509  26,381  23 
Average shareholders’ equity
18,534  16,196  2,338  14 
Average common total shareholders' equity
16,367  13,685  2,682  20 
Average tangible common shareholders' equity
10,754  10,116  638  6 
NCOs as a % of average loans and leases
 0.08  % 0.26  %
NAL ratio
 0.51  0.79 
NPA ratio (5) 0.53  0.82 

NM - Not Meaningful
See Notes to the Year to Date and Quarterly Key Statistics.

2

Key Statistics Footnotes
(1)Net income applicable to common shares excluding expense for amortization of intangibles for the period divided by average tangible common shareholders’ equity. Average tangible common shareholders’ equity equals average total common shareholders’ equity less average intangible assets and goodwill. Expense for amortization of intangibles and average intangible assets are net of deferred tax liability, and calculated assuming a 21% tax rate.
(2)On a fully-taxable equivalent (FTE) basis assuming a 21% tax rate.
(3)Noninterest expense less amortization of intangibles divided by the sum of FTE net interest income and noninterest income excluding securities gains (losses).
(4)Includes noninterest-bearing and interest-bearing demand deposits, money market deposits, savings and other domestic deposits, and core certificates of deposit.
(5)NPAs include other nonperforming assets, which includes certain impaired securities and/or nonaccrual loans held for sale, and other real estate owned.
(6)September 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.
3

Huntington Bancshares Incorporated
Consolidated Balance Sheets
September 30, December 31,
(dollar amounts in millions) 2022 2021
Percent Changes
(Unaudited)
Assets
Cash and due from banks
 $ 1,685  $ 1,811  (7) %
Interest-bearing deposits at Federal Reserve Bank 2,691  3,711  (27)
Interest-bearing deposits in banks
 216  392  (45)
Trading account securities
 32  46  (30)
Available-for-sale securities
 23,306  28,460  (18)
Held-to-maturity securities
 17,173  12,447  38 
Other securities
 818  648  26 
Loans held for sale
 893  1,676  (47)
Loans and leases (1)
 118,147  111,267  6 
Allowance for loan and lease losses
 (2,110) (2,030) (4)
Net loans and leases
 116,037  109,237  6 
Bank owned life insurance
 2,768  2,765  — 
Accrued income and other receivables 1,352  1,319  3 
Premises and equipment
 1,171  1,164  1 
Goodwill
 5,571  5,349  4 
Servicing rights and other intangible assets 715  611  17 
Other assets
 4,974  4,428  12 
Total assets
 $ 179,402  $ 174,064  3  %
Liabilities and shareholders’ equity
Liabilities
Deposits (2)
 $ 146,313  $ 143,263  2  %
Short-term borrowings
 426  334  28 
Long-term debt
 10,168  7,108  43 
Other liabilities
 5,324  4,041  32 
Total liabilities
 162,231  154,746  5 
Shareholders' equity
Preferred stock
 2,167  2,167  — 
Common stock
 14  14  — 
Capital surplus
 15,282  15,222  — 
Less treasury shares, at cost
 (80) (79) (1)
Accumulated other comprehensive income (loss) (3,276) (229) (1,331)
Retained earnings 3,029  2,202  38 
Total Huntington Bancshares Inc shareholders’ equity 17,136  19,297  (11)
Non-controlling interest 35  21  67 
Total equity 17,171  19,318  (11)
Total liabilities and shareholders’ equity
 $ 179,402  $ 174,064  3  %
Common shares authorized (par value of $0.01)
 2,250,000,000  2,250,000,000 
Common shares outstanding
 1,442,734,255  1,437,742,172 
Treasury shares outstanding
 6,341,958  6,298,288 
Preferred stock, authorized shares
 6,617,808  6,617,808 
Preferred shares outstanding
 557,500  557,500 

(1)See page 5 for detail of loans and leases.
(2)See page 6 for detail of deposits.
4

Huntington Bancshares Incorporated
Loans and Leases Composition
(Unaudited)
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2022 2022 2022 2021 2021
Ending Balances by Type:
Total loans
Commercial:
Commercial and industrial
 $ 44,144  38  % $ 43,440  38  % $ 42,236  37  % $ 41,688  37  % $ 40,452  36  %
Commercial real estate:
Commercial
 14,717  12  14,173  12  13,381  12  13,090  12  12,882  12 
Construction
 1,739  2  1,522  1  2,010  2  1,871  2  1,812  2 
Commercial real estate
 16,456  14  15,695  13  15,391  14  14,961  14  14,694  14 
Lease financing 5,093  4  5,043  4  4,978  4  5,000  4  4,991  5 
Total commercial
 65,693  56  64,178  55  62,605  55  61,649  55  60,137  55 
Consumer:
Residential mortgage 21,816  18  21,220  18  19,942  18  19,256  17  18,922  17 
Automobile
 13,430  11  13,622  12  13,480  12  13,434  12  13,305  12 
Home equity
 10,440  9  10,426  9  10,343  9  10,550  9  10,919  10 
RV and marine
 5,436  5  5,453  5  5,191  5  5,058  5  5,052  5 
Other consumer
 1,332  1  1,322  1  1,256  1  1,320  2  1,223  1 
Total consumer
 52,454  44  52,043  45  50,212  45  49,618  45  49,421  45 
Total loans and leases
 $ 118,147  100  % $ 116,221  100  % $ 112,817  100  % $ 111,267  100  % $ 109,558  100  %
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2022 2022 2022 2021 2021
Ending Balances by Business Segment:
Commercial Banking $ 54,515  47  % $ 52,845  45  % $ 51,132  45  % $ 49,372  44  % $ 46,988  43  %
Consumer and Business Banking 32,115  27  32,144  28  31,756  29  32,715  30  34,267  31 
Vehicle Finance 21,707  18  21,848  19  21,344  19  20,968  19  20,353  19 
RBHPCG (Regional Banking and The Huntington Private Client Group) 9,586  8  9,181  8  8,435  7  8,012  7  7,743  7 
Treasury / Other 224  —  203  —  150  —  200  —  207  — 
Total loans and leases $ 118,147  100  % $ 116,221  100  % $ 112,817  100  % $ 111,267  100  % $ 109,558  100  %
Average Balances by Business Segment:
Commercial Banking $ 53,255  46  % $ 51,280  45  % $ 49,515  45  % $ 47,281  43  % $ 46,180  43  %
Consumer and Business Banking 32,116  27  31,926  28  32,134  29  33,434  31  35,544  32 
Vehicle Finance 21,748  19  21,601  19  21,155  19  20,598  19  20,219  18 
RBHPCG 9,416  8  8,786  8  8,178  7  7,842  7  7,527  7 
Treasury / Other 429  —  356  —  160  —  333  —  198  — 
Total loans and leases
 $ 116,964  100  % $ 113,949  100  % $ 111,142  100  % $ 109,488  100  % $ 109,668  100  %

5

Huntington Bancshares Incorporated
Deposits Composition
(Unaudited)
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2022 2022 2022 2021 2021
Ending Balances by Type:
Demand deposits - noninterest-bearing
 $ 40,762  28  % $ 42,131  29  % $ 43,824  29  % $ 43,236  30  % $ 44,560  31  %
Demand deposits - interest-bearing
 43,673  30  41,433  28  42,099  29  39,837  28  36,423  26 
Money market deposits 33,811  23  34,257  24  33,444  23  32,522  23  32,662  23 
Savings and other domestic deposits
 21,274  15  21,583  15  21,716  15  21,088  15  20,773  15 
Core certificates of deposit (1)
 2,115  1  2,103  1  2,358  2  2,740  2  3,080  2 
Total core deposits 141,635  97  141,507  97  143,441  98  139,423  98  137,498  97 
Other domestic deposits of $250,000 or more 186  —  221  —  274  —  359  —  521  — 
Negotiable CDS, brokered and other deposits
 4,492  3  3,707  3  3,250  2  3,481  2  3,879  3 
Total deposits
 $ 146,313  100  % $ 145,435  100  % $ 146,965  100  % $ 143,263  100  % $ 141,898  100  %
Total core deposits:
Commercial $ 65,151  46  % $ 63,629  45  % $ 64,013  45  % $ 61,521  44  % $ 61,210  45  %
Consumer 76,484  54  77,878  55  79,428  55  77,902  56  76,288  55 
Total core deposits
 $ 141,635  100  % $ 141,507  100  % $ 143,441  100  % $ 139,423  100  % $ 137,498  100  %
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2022 2022 2022 2021 2021
Ending Balances by Business Segment:
Commercial Banking $ 37,194  25  % $ 34,670  24  % $ 35,034  24  % $ 31,845  22  % $ 32,531  23  %
Consumer and Business Banking 93,854  65  95,693  66  96,907  65  95,352  67  94,439  67 
Vehicle Finance 1,173  1  1,291  1  1,323  1  1,401  1  1,437  1 
RBHPCG 8,982  6  9,226  6  9,672  7  10,162  7  9,025  6 
Treasury / Other (2) 5,110  3  4,555  3  4,029  3  4,503  3  4,466  3 
Total deposits
 $ 146,313  100  % $ 145,435  100  % $ 146,965  100  % $ 143,263  100  % $ 141,898  100  %
Average Balances by Business Segment:
Commercial Banking $ 36,636  25  % $ 35,156  24  % $ 33,355  23  % $ 31,950  22  % $ 32,867  23  %
Consumer and Business Banking 93,924  65  95,263  65  94,464  66  94,593  67  94,719  67 
Vehicle Finance 1,252  1  1,257  1  1,289  1  1,501  1  1,328  1 
RBHPCG 9,242  6  9,493  7  9,520  7  9,505  7  8,587  6 
Treasury / Other (2) 4,954  3  3,839  3  4,289  3  4,754  3  4,802  3 
Total deposits
 $ 146,008  100  % $ 145,008  100  % $ 142,917  100  % $ 142,303  100  % $ 142,303  100  %
(1)Includes consumer certificates of deposit of $250,000 or more.
(2)Comprised primarily of national market deposits.
6

Huntington Bancshares Incorporated
Consolidated Quarterly Average Balance Sheets
(Unaudited)
Quarterly Average Balances (1)
September 30, June 30, March 31, December 31, September 30, Percent Changes vs.
(dollar amounts in millions) 2022 2022 2022 2021 2021 2Q22 3Q21
Assets
Interest-bearing deposits at Federal Reserve Bank $ 3,204  $ 3,532  $ 7,195  $ 7,227  $ 11,536  (9) % (72) %
Interest-bearing deposits in banks
 260  161  174  521  466  61  (44)
Securities:
Trading account securities
 24  30  46  51  49  (20) (51)
Available-for-sale securities:
Taxable
 21,677  21,672  24,205  23,895  20,147  —  8 
Tax-exempt
 2,917  2,859  2,886  3,057  3,116  2  (6)
Total available-for-sale securities
 24,594  24,531  27,091  26,952  23,263  —  6 
Held-to-maturity securities - taxable
 17,188  17,234  14,556  12,421  11,964  —  44 
Other securities 804  755  967  651  677  6  19 
Total securities
 42,610  42,550  42,660  40,075  35,953  —  19 
Loans held for sale
 986  1,033  1,243  1,381  1,525  (5) (35)
Loans and leases: (2)
Commercial:
Commercial and industrial
 43,598  42,689  41,397  40,582  40,597  2  7 
Commercial real estate:
Commercial
 14,405  13,516  13,186  12,758  12,891  7  12 
Construction
 1,697  1,760  1,877  1,820  1,803  (4) (6)
Commercial real estate
 16,102  15,276  15,063  14,578  14,694  5  10 
Lease financing 4,981  4,919  4,912  4,933  4,983  1  — 
Total commercial
 64,681  62,884  61,372  60,093  60,274  3  7 
Consumer:
Residential mortgage
 21,552  20,527  19,505  18,955  18,886  5  14 
Automobile 13,514  13,557  13,463  13,355  13,209  —  2 
Home equity 10,431  10,373  10,414  10,748  11,106  1  (6)
RV and marine 5,454  5,317  5,103  5,040  4,998  3  9 
Other consumer
 1,332  1,291  1,285  1,297  1,195  3  11 
Total consumer
 52,283  51,065  49,770  49,395  49,394  2  6 
Total loans and leases
 116,964  113,949  111,142  109,488  109,668  3  7 
Allowance for loan and lease losses
 (2,099) (2,053) (2,047) (2,112) (2,219) (2) 5 
Net loans and leases
 114,865  111,896  109,095  107,376  107,449  3  7 
Total earning assets
 164,024  161,225  162,414  158,692  159,148  2  3 
Cash and due from banks
 1,697  1,669  1,648  1,695  1,535  2  11 
Goodwill and other intangible assets 5,781  5,613  5,584  5,570  5,578  3  4 
All other assets
 10,154  10,107  10,013  9,827  9,791  —  4 
Total assets
 $ 179,557  $ 176,561  $ 177,612  $ 173,672  $ 173,833  2  % 3  %
Liabilities and shareholders’ equity
Interest-bearing deposits:
Demand deposits - interest-bearing
 $ 42,038  $ 41,712  $ 40,634  $ 38,441  $ 35,690  1  % 18  %
Money market deposits
 34,058  33,791  32,672  32,400  33,281  1  2 
Savings and other domestic deposits
 21,439  21,683  21,316  20,896  20,931  (1) 2 
Core certificates of deposit (3)
 2,040  2,228  2,560  2,909  3,319  (8) (39)
Other domestic deposits of $250,000 or more
 193  225  316  452  582  (14) (67)
Negotiable CDS, brokered and other deposits
 4,124  2,981  3,453  3,843  3,905  38  6 
Total interest-bearing deposits
 103,892  102,620  100,951  98,941  97,708  1  6 
Short-term borrowings
 2,609  2,103  4,728  342  317  24  723 
Long-term debt
 8,251  7,024  6,914  7,674  7,587  17  9 
Total interest-bearing liabilities
 114,752  111,747  112,593  106,957  105,612  3  9 
Demand deposits - noninterest-bearing
 42,116  42,388  41,966  43,362  44,595  (1) (6)
All other liabilities
 4,340  4,168  3,964  3,957  3,823  4  14 
Total Huntington Bancshares Inc shareholders’ equity 18,317  18,228  19,064  19,375  19,783  —  (7)
Non-controlling interest 32  30  25  21  20  7  60 
Total equity 18,349  18,258  19,089  19,396  19,803  —  (7)
Total liabilities and shareholders’ equity
 $ 179,557  $ 176,561  $ 177,612  $ 173,672  $ 173,833  2  % 3  %
(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.
7

Huntington Bancshares Incorporated
Consolidated Quarterly Net Interest Margin - Interest Income / Expense (1)(2)
(Unaudited)
Quarterly Interest Income / Expense
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2022 2022 2022 2021 2021
Assets
Interest-bearing deposits at Federal Reserve Bank $ 19  $ 7  $ 3  $ 3  $ 4 
Interest-bearing deposits in banks
 2  1  —  —  1 
Securities:
Trading account securities
 —  1  —  —  — 
Available-for-sale securities:
Taxable
 165  123  90  77  68 
Tax-exempt
 25  19  22  19  18 
Total available-for-sale securities
 190  142  112  96  86 
Held-to-maturity securities - taxable
 95  90  66  50  47 
Other securities 7  6  5  4  2 
Total securities
 292  239  183  150  135 
Loans held for sale
 13  10  10  10  13 
Loans and leases:
Commercial:
Commercial and industrial 490  415  392  393  419 
Commercial real estate:
Commercial 169  115  97  102  105 
Construction 21  16  17  17  17 
Commercial real estate 190  131  114  119  122 
Lease financing 63  61  61  61  61 
Total commercial 743  607  567  573  602 
Consumer:
Residential mortgage 174  158  146  141  139 
Automobile 120  115  112  119  121 
Home equity 143  115  102  109  113 
RV and marine 59  55  52  54  55 
Other consumer 32  30  28  29  29 
Total consumer 528  473  440  452  457 
Total loans and leases
 1,271  1,080  1,007  1,025  1,059 
Total earning assets
 $ 1,597  $ 1,337  $ 1,203  $ 1,188  $ 1,212 
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing
 $ 42  $ 11  $ 3  $ 3  $ 3 
Money market deposits 25  8  4  6  7 
Savings and other domestic deposits
 1  1  1  1  1 
Core certificates of deposit (3)
 1  —  1  —  (2)
Other domestic deposits of $250,000 or more
 —  —  —  —  1 
Negotiable CDS, brokered and other deposits
 23  5  2  1  1 
Total interest-bearing deposits
 92  25  11  11  11 
Short-term borrowings
 22  7  7  1  — 
Long-term debt
 71  38  31  38  34 
Total interest-bearing liabilities 185  70  49  50  45 
Net interest income
 $ 1,412  $ 1,267  $ 1,154  $ 1,138  $ 1,167 
(1)Fully-taxable equivalent (FTE) income and expense calculated assuming a 21% tax rate. See page 10 for the FTE adjustment.
(2)Amounts include the effects of hedge and risk management activities associated with the respective asset and liability categories.
(3)Includes consumer certificates of deposit of $250,000 or more.


8

Huntington Bancshares Incorporated
Consolidated Quarterly Net Interest Margin - Yield
(Unaudited)
 Quarterly Average Rates
September 30, June 30, March 31, December 31, September 30,
Fully-taxable equivalent basis (1)
 2022 2022 2022 2021 2021
Assets
Interest-bearing deposits at Federal Reserve Bank 2.39  % 0.80  % 0.17  % 0.15  % 0.17  %
Interest-bearing deposits in banks
 3.31  1.32  0.15  0.06  0.04 
Securities:
Trading account securities
 4.12  3.99  3.39  3.67  2.98 
Available-for-sale securities:
Taxable
 3.06  2.25  1.49  1.29  1.34 
Tax-exempt
 3.39  2.71  3.00  2.40  2.37 
Total available-for-sale securities
 3.09  2.30  1.65  1.42  1.48 
Held-to-maturity securities - taxable
 2.21  2.10  1.81  1.59  1.58 
Other securities 3.21  3.62  1.88  2.18  1.43 
Total securities
 2.74  2.24  1.72  1.49  1.52 
Loans held for sale
 4.98  4.08  3.15  3.14  3.23 
Loans and leases: (3)
Commercial:
Commercial and industrial 4.40  3.84  3.79  3.79  4.04 
Commercial real estate:
Commercial 4.57  3.38  2.94  3.14  3.17 
Construction 4.95  3.70  3.52  3.71  3.68 
Commercial real estate 4.61  3.41  3.01  3.21  3.23 
Lease financing 4.95  4.98  4.93  4.81  4.84 
Total commercial 4.50  3.83  3.69  3.73  3.91 
Consumer:
Residential mortgage 3.23  3.09  2.99  2.97  2.95 
Automobile 3.53  3.40  3.38  3.53  3.62 
Home equity 5.43  4.44  3.99  4.01  4.03 
RV and marine 4.29  4.12  4.15  4.31  4.33 
Other consumer 9.55  9.08  8.96  9.06  9.72 
Total consumer 4.02  3.70  3.57  3.64  3.67 
Total loans and leases
 4.28  3.77  3.64  3.69  3.80 
Total earning assets
 3.86  3.33  3.00  2.97  3.02 
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing
 0.40  0.10  0.03  0.03  0.04 
Money market deposits 0.29  0.09  0.05  0.08  0.08 
Savings and other domestic deposits
 0.02  0.02  0.02  0.02  0.03 
Core certificates of deposit (4)
 0.10  0.07  0.14  —  (0.23)
Other domestic deposits of $250,000 or more
 0.35  0.23  0.08  0.18  0.21 
Negotiable CDS, brokered and other deposits
 2.25  0.72  0.17  0.14  0.15 
Total interest-bearing deposits
 0.35  0.10  0.04  0.05  0.05 
Short-term borrowings
 3.31  1.40  0.57  0.09  0.14 
Long-term debt
 3.40  2.16  1.83  1.93  1.81 
Total interest-bearing liabilities
 0.64  0.25  0.18  0.18  0.17 
Net interest rate spread
 3.22  3.08  2.82  2.79  2.85 
Impact of noninterest-bearing funds on margin
 0.20  0.07  0.06  0.06  0.06 
Net interest margin
 3.42  % 3.15  % 2.88  % 2.85  % 2.91  %
Commercial Loan Derivative Impact
(Unaudited)
Average Rates
2022 2022 2022 2021 2021
Fully-taxable equivalent basis (1)
 Third Second First Fourth Third
Commercial loans (2)(3)
 4.62  % 3.69  % 3.47  % 3.53  % 3.65  %
Impact of commercial loan derivatives
 (0.12) 0.14  0.22  0.20  0.26 
Total commercial - as reported
 4.50  % 3.83  % 3.69  % 3.73  % 3.91  %
Average 1 Month LIBOR
 2.46  % 1.01  % 0.23  % 0.09  % 0.09  %
(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.
9

Huntington Bancshares Incorporated
Selected Quarterly Income Statement Data
(Unaudited)
Three Months Ended
(dollar amounts in millions, except per share data) September 30, June 30, March 31, December 31, September 30,
2022 2022 2022 2021 2021
Interest income
 $ 1,589  $ 1,331  $ 1,195  $ 1,182  $ 1,205 
Interest expense
 185  70  49  50  45 
Net interest income
 1,404  1,261  1,146  1,132  1,160 
Provision for credit losses 106  67  25  (64) (62)
Net interest income after provision for credit losses 1,298  1,194  1,121  1,196  1,222 
Service charges on deposit accounts 93  105  97  101  114 
Card and payment processing income 96  96  86  93  96 
Mortgage banking income 26  44  49  61  81 
Trust and investment management services 60  63  65  63  61 
Capital markets fees 73  54  42  47  40 
Insurance income 28  27  31  28  25 
Leasing revenue 29  27  35  41  42 
Bank owned life insurance income 13  11  17  22  15 
Gain on sale of loans 15  12  28  1  2 
Net gains (losses) on sales of securities —  —  —  (1) — 
Other noninterest income 65  46  49  59  59 
Total noninterest income
 498  485  499  515  535 
Personnel costs 614  577  580  632  643 
Outside data processing and other services 145  153  165  269  304 
Net occupancy 63  58  64  68  95 
Equipment 60  61  81  68  79 
Professional services 18  19  19  22  26 
Marketing 24  24  21  35  25 
Deposit and other insurance expense 15  20  18  18  17 
Amortization of intangibles 13  13  14  14  13 
Lease financing equipment depreciation 11  11  14  17  19 
Other noninterest expense 90  82  77  78  68 
Total noninterest expense
 1,053  1,018  1,053  1,221  1,289 
Income before income taxes 743  661  567  490  468 
Provision for income taxes 146  120  105  88  90 
Income after income taxes 597  541  462  402  378 
Income attributable to non-controlling interest 3  2  2  1  1 
Net income attributable to Huntington Bancshares Inc 594  539  460  401  377 
Dividends on preferred shares 29  28  28  28  29 
Impact of preferred stock redemption —  —  —  (4) 15 
Net income applicable to common shares $ 565  $ 511  $ 432  $ 377  $ 333 
Average common shares - basic
 1,443  1,441  1,438  1,444  1,463 
Average common shares - diluted
1,465  1,463  1,464  1,471  1,487 
Per common share
Net income - basic $ 0.39  $ 0.35  $ 0.30  $ 0.26  $ 0.23 
Net income - diluted 0.39  0.35  0.29  0.26  0.22 
Cash dividends declared
 0.155  0.155  0.155  0.155  0.15 
Revenue - fully-taxable equivalent (FTE)
Net interest income
 $ 1,404  $ 1,261  $ 1,146  $ 1,132  $ 1,160 
FTE adjustment
 8  6  8  6  7 
Net interest income (1)
 1,412  1,267  1,154  1,138  1,167 
Noninterest income
 498  485  499  515  535 
Total revenue (1)
 $ 1,910  $ 1,752  $ 1,653  $ 1,653  $ 1,702 
(1)On a fully-taxable equivalent (FTE) basis assuming a 21% tax rate.

10

Huntington Bancshares Incorporated
Quarterly Mortgage Banking Noninterest Income
(Unaudited)
Three Months Ended
September 30, June 30, March 31, December 31, September 30,
Percent Changes vs.
(dollar amounts in millions)
 2022 2022 2022 2021 2021 2Q22 3Q21
Net origination and secondary marketing income
 $ 25  $ 27  $ 37  $ 56  $ 80  (7) % (69) %
Net mortgage servicing income
          Loan servicing income
 22  22  22  22  21  —  5 
          Amortization of capitalized servicing (14) (16) (15) (20) (21) 13  33 
    Operating income 8  6  7  2  —  33  100 
          MSR valuation adjustment (1) 17  44  51  (1) 1  (61) NM
          (Losses) gains due to MSR hedging (24) (34) (47) 2  (4) 29  NM
     Net MSR risk management (7) 10  4  1  (3) (170) (133)
Total net mortgage servicing income (expense) $ 1  $ 16  $ 11  $ 3  $ (3) (94) % 133  %
All other —  1  1  2  4  (100) (100)
Mortgage banking income
 $ 26  $ 44  $ 49  $ 61  $ 81  (41) % (68) %
Mortgage origination volume $ 2,491  $ 3,366  $ 2,881  $ 3,880  $ 4,467  (26) % (44) %
Mortgage origination volume for sale
 1,339  1,263  1,519  2,380  2,514  6  (47)
Third party mortgage loans serviced (2) 31,988  31,704  31,570  31,017  30,554  1  5 
Mortgage servicing rights (2) 486  463  416  351  338  5  44 
MSR % of investor servicing portfolio (2) 1.52  % 1.46  % 1.32  % 1.13  % 1.11  % 4  % 37  %
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.
11


Huntington Bancshares Incorporated
Quarterly Credit Reserves Analysis
(Unaudited)
Three Months Ended
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2022 2022 2022 2021 2021
Allowance for loan and lease losses, beginning of period
 $ 2,074  $ 2,018  $ 2,030  $ 2,107  $ 2,218 
Loan and lease charge-offs (83) (52) (81) (79) (106)
Recoveries of loans and leases previously charged-off 39  44  62  45  51 
Net loan and lease charge-offs (44) (8) (19) (34) (55)
Provision (benefit) for loan and lease losses 80  64  7  (43) (56)
Allowance for loan and lease losses, end of period
 2,110  2,074  2,018  2,030  2,107 
Allowance for unfunded lending commitments, beginning of period 94  91  77  98  104 
Provision (reduction in allowance) for unfunded lending commitments 26  3  14  (21) (6)
Allowance for unfunded lending commitments, end of period 120  94  91  77  98 
Total allowance for credit losses, end of period
 $ 2,230  $ 2,168  $ 2,109  $ 2,107  $ 2,205 
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases 1.79  % 1.78  % 1.79  % 1.82  % 1.92  %
Nonaccrual loans and leases (NALs)
 351  316  296  284  245 
Nonperforming assets (NPAs)
 336  304  285  271  236 
Total allowance for credit losses (ACL) as % of:
Total loans and leases
 1.89  % 1.87  % 1.87  % 1.89  % 2.01  %
Nonaccrual loans and leases (NALs) 371  330  309  294  256 
Nonperforming assets (NPAs) 355  318  298  281  247 

Three Months Ended
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2022 2022 2022 2021 2021
Allocation of allowance for credit losses
Commercial
Commercial and industrial $ 860  $ 804  $ 937  $ 832  $ 801 
Commercial real estate 504  498  521  586  678 
Lease financing 50  40  56  44  70 
Total commercial 1,414  1,342  1,514  1,462  1,549 
Consumer
Residential mortgage 178  177  139  145  127 
Automobile 118  146  101  108  122 
Home equity 126  131  60  88  108 
RV and marine 127  147  96  105  111 
Other consumer 147  131  108  122  90 
Total consumer 696  732  504  568  558 
Total allowance for loan and lease losses 2,110  2,074  2,018  2,030  2,107 
Allowance for unfunded lending commitments 120  94  91  77  98 
Total allowance for credit losses $ 2,230  $ 2,168  $ 2,109  $ 2,107  $ 2,205 


12

Huntington Bancshares Incorporated
Quarterly Net Charge-Off Analysis
(Unaudited)
Three Months Ended
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2022 2022 2022 2021 2021
Net charge-offs (recoveries) by loan and lease type:
Commercial:
Commercial and industrial
 $ 16  $ (4) $ (23) $ 6  $ 28 
Commercial real estate
 (3) (4) 8  (4) 7 
Lease financing 2  (3) 5  3  12 
Total commercial
 15  (11) (10) 5  47 
Consumer:
Residential mortgage (1) (1) —  (1) — 
Automobile 3  —  —  —  (4)
Home equity (2) (2) (1) (1) (3)
RV and marine
 2  1  3  2  — 
Other consumer
 27  21  27  29  15 
Total consumer
 29  19  29  29  8 
Total net charge-offs $ 44  $ 8  $ 19  $ 34  $ 55 
Three Months Ended
September 30, June 30, March 31, December 31, September 30,
2022 2022 2022 2021 2021
Net charge-offs (recoveries) - annualized percentages:
Commercial:
Commercial and industrial
 0.15  % (0.04) % (0.22) % 0.06  % 0.28  %
Commercial real estate
 (0.06) (0.11) 0.22  (0.12) 0.21 
Lease financing 0.17  (0.24) 0.40  0.24  0.87 
Total commercial
 0.10  (0.07) (0.06) 0.03  0.31 
Consumer:
Residential mortgage (0.02) (0.02) —  (0.01) — 
Automobile 0.07  —  0.01  (0.03) (0.10)
Home equity (0.07) (0.08) (0.03) (0.04) (0.08)
RV and marine
 0.17  0.10  0.20  0.13  (0.01)
Other consumer
 8.09  6.60  8.46  9.21  4.84 
Total consumer
 0.22  0.15  0.23  0.23  0.07 
Net charge-offs as a % of average loans and leases 0.15  % 0.03  % 0.07  % 0.12  % 0.20  %

13

Huntington Bancshares Incorporated
Quarterly Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs) (1)
(Unaudited)
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions)
 2022 2022 2022 2021 2021
Nonaccrual loans and leases (NALs):
Commercial and industrial
 $ 288  $ 324  $ 323  $ 370  $ 494 
Commercial real estate
 110  117  114  104  103 
Lease financing 30  22  38  48  60 
Residential mortgage 94  111  117  111  108 
Automobile 4  4  4  3  3 
Home equity
 75  78  84  79  87 
RV and marine
 1  1  2  1  6 
Total nonaccrual loans and leases
 602  657  682  716  861 
Other real estate, net:
Residential
 11  11  10  8  6 
Commercial
 —  —  1  1  1 
Total other real estate, net 11  11  11  9  7 
Other NPAs (2) 14  14  15  25  25 
Total nonperforming assets
 $ 627  $ 682  $ 708  $ 750  $ 893 
Nonaccrual loans and leases as a % of total loans and leases
 0.51  % 0.57  % 0.60  % 0.64  % 0.79  %
NPA ratio (3) 0.53  0.59  0.63  0.67  0.82 
(NPA+90days)/(Loan+OREO) (4)
 0.72  0.77  0.88  0.86  0.97 
Three Months Ended
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2022 2022 2022 2021 2021
Nonperforming assets, beginning of period $ 682  $ 708  $ 750  $ 893  $ 1,014 
New nonperforming assets 119  181  204  146  195 
Returns to accruing status (42) (81) (57) (99) (125)
Charge-offs (39) (26) (32) (35) (51)
Payments (89) (97) (155) (152) (128)
Sales (4) (3) (2) (3) (12)
Nonperforming assets, end of period $ 627  $ 682  $ 708  $ 750  $ 893 
(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.

14

Huntington Bancshares Incorporated
Quarterly Accruing Past Due Loans and Leases
(Unaudited)
  September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2022 2022 2022 2021 2021
Accruing loans and leases past due 90+ days:
Commercial and industrial
 $ 29  $ 11  $ 10  $ 13  $ 6 
Lease financing 18  10  12  11  12 
Residential mortgage (excluding loans guaranteed by the U.S. Government) 17  14  25  25  16 
Automobile 6  6  6  6  5 
Home equity 12  13  12  17  10 
RV and marine 2  2  1  3  2 
Other consumer
 3  2  2  3  2 
Total, excl. loans guaranteed by the U.S. Government
 87  58  68  78  53 
Add: loans guaranteed by U.S. Government
 136  154  212  132  122 
Total accruing loans and leases past due 90+ days, including loans guaranteed by the U.S. Government
 $ 223  $ 212  $ 280  $ 210  $ 175 
Ratios:
Excluding loans guaranteed by the U.S. Government, as a percent of total loans and leases
 0.07  % 0.05  % 0.06  % 0.07  % 0.05  %
Guaranteed by U.S. Government, as a percent of total loans and leases
 0.12  0.13  0.19  0.12  0.11 
Including loans guaranteed by the U.S. Government, as a percent of total loans and leases
 0.19  0.18  0.25  0.19  0.16 

15

Huntington Bancshares Incorporated
Quarterly Capital Under Current Regulatory Standards (Basel III) and Other Capital Data
(Unaudited)
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2022 2022 2022 2021 2021
Common equity tier 1 risk-based capital ratio: (1)
Total shareholders’ equity
 $ 17,136  $ 17,950  $ 18,452  $ 19,297  $ 19,479 
Regulatory capital adjustments:
CECL transitional amount (2) 328  328  328  437  440 
Shareholders’ preferred equity and related surplus (2,177) (2,177) (2,177) (2,177) (2,281)
Accumulated other comprehensive loss offset 3,276  2,098  1,314  230  125 
Goodwill and other intangibles, net of taxes (5,675) (5,686) (5,474) (5,484) (5,477)
Deferred tax assets that arise from tax loss and credit carryforwards
 (29) (36) (46) (54) (36)
Common equity tier 1 capital
 12,859  12,477  12,397  12,249  12,250 
Additional tier 1 capital
Shareholders’ preferred equity and related surplus 2,177  2,177  2,177  2,177  2,281 
Tier 1 capital
 15,036  14,654  14,574  14,426  14,531 
Long-term debt and other tier 2 qualifying instruments
 1,441  1,462  1,464  1,539  1,552 
Qualifying allowance for loan and lease losses
 1,637  1,541  1,485  1,281  1,290 
Tier 2 capital
 3,078  3,003  2,949  2,820  2,842 
Total risk-based capital
 $ 18,114  $ 17,657  $ 17,523  $ 17,246  $ 17,373 
Risk-weighted assets (RWA)(1)
 $ 138,788  $ 137,841  $ 134,484  $ 131,266  $ 128,023 
Common equity tier 1 risk-based capital ratio (1)
 9.27  % 9.05  % 9.22  % 9.33  % 9.57  %
Other regulatory capital data:
Tier 1 leverage ratio (1)
 8.51  8.46  8.43  8.56  8.62 
Tier 1 risk-based capital ratio (1)
 10.83  10.63  10.84  10.99  11.35 
Total risk-based capital ratio (1)
 13.05  12.81  13.03  13.14  13.57 
Non-regulatory capital data:
Tangible common equity / RWA ratio (1)
 6.66  7.28  8.00  8.83  9.14 
(1)September 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, June 30, 2022 and September 30, 2022, 25% of the cumulative CECL deferral has been phased in.
16

Huntington Bancshares Incorporated
Quarterly Common Stock Summary, Non-Regulatory Capital, and Other Data
(Unaudited)
Quarterly common stock summary
September 30, June 30, March 31, December 31, September 30,
2022 2022 2022 2021 2021
Cash dividends declared per common share
 $ 0.155  $ 0.155  $ 0.155  $ 0.155  $ 0.15 
Common shares outstanding (in millions)
Average - basic
1,443  1,441  1,438  1,444  1,463 
Average - diluted
1,465  1,463  1,464  1,471  1,487 
Ending
1,443  1,442  1,439  1,438  1,446 
Tangible book value per common share (1)
 $ 6.40  $ 6.96  $ 7.47  $ 8.06  $ 8.09 
Common share repurchases (in millions)
Number of shares repurchased
—  —  —  10  33 

Non-regulatory capital
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2022 2022 2022 2021 2021
Calculation of tangible equity / asset ratio:
Total shareholders’ equity $ 17,136  $ 17,950  $ 18,452  $ 19,297  $ 19,479 
Goodwill and other intangible assets (5,775) (5,788) (5,577) (5,591) (5,571)
Deferred tax liability on other intangible assets (1) 43  46  48  51  54 
Total tangible equity
 11,404  12,208  12,923  13,757  13,962 
Preferred equity (2,167) (2,167) (2,167) (2,167) (2,267)
Total tangible common equity
 $ 9,237  $ 10,041  $ 10,756  $ 11,590  $ 11,695 
Total assets
 $ 179,402  $ 178,782  $ 176,856  $ 174,064  $ 173,878 
Goodwill and other intangible assets (5,775) (5,788) (5,577) (5,591) (5,571)
Deferred tax liability on other intangible assets (1) 43  46  48  51  54 
Total tangible assets
 $ 173,670  $ 173,040  $ 171,327  $ 168,524  $ 168,361 
Tangible equity / tangible asset ratio
 6.57  % 7.06  % 7.54  % 8.16  % 8.29  %
Tangible common equity / tangible asset ratio
 5.32  5.80  6.28  6.88  6.95 
Other data:
Number of employees (Average full-time equivalent)
 19,997  19,866  19,722  20,309  20,908 
Number of domestic full-service branches (2)
 1,032  1,032  1,030  1,092  1,236 
ATM Count
 1,715  1,731  1,729  1,756  2,317 
(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.


17

Huntington Bancshares Incorporated
Consolidated Year To Date Average Balance Sheets
(Unaudited)
YTD Average Balances (1)
Nine Months Ended September 30,
Change
(dollar amounts in millions)
 2022 2021
Amount
Percent
Assets
Interest-bearing deposits at Federal Reserve Bank $ 4,629  $ 8,432  $ (3,803) (45) %
Interest-bearing deposits in banks
 200  322  (122) (38)
Securities:
Trading account securities
 33  50  (17) (34)
Available-for-sale securities:
Taxable
 22,509  18,376  4,133  22 
Tax-exempt
 2,887  2,868  19  1 
Total available-for-sale securities
 25,396  21,244  4,152  20 
Held-to-maturity securities - taxable
 16,336  9,185  7,151  78 
Other securities 841  524  317  60 
Total securities
 42,606  31,003  11,603  37 
Loans held for sale
 1,086  1,404  (318) (23)
Loans and leases: (2)
Commercial:
Commercial and industrial 42,569  35,657  6,912  19 
Commercial real estate:
Commercial 13,707  8,953  4,754  53 
Construction 1,777  1,392  385  28 
Commercial real estate 15,484  10,345  5,139  50 
Lease financing 4,938  3,336  1,602  48 
Total commercial 62,991  49,338  13,653  28 
Consumer:
Residential mortgage 20,536  14,941  5,595  37 
Automobile 13,512  12,891  621  5 
Home equity 10,406  9,771  635  6 
RV and marine 5,293  4,549  744  16 
Other consumer 1,301  1,058  243  23 
Total consumer 51,048  43,210  7,838  18 
Total loans and leases
 114,039  92,548  21,491  23 
Allowance for loan and lease losses
 (2,067) (1,953) (114) (6)
Net loans and leases
 111,972  90,595  21,377  24 
Total earning assets
 162,560  133,709  28,851  22 
Cash and due from banks
 1,672  1,242  430  35 
Goodwill and other intangible assets 5,660  3,615  2,045  57 
All other assets
 10,092  8,459  1,633  19 
Total assets
 $ 177,917  $ 145,072  $ 32,845  23  %
Liabilities and shareholders’ equity
Interest-bearing deposits:
Demand deposits - interest-bearing
 $ 41,467  $ 30,776  $ 10,691  35  %
Money market deposits 33,512  29,243  4,269  15 
Savings and other domestic deposits
 21,480  16,165  5,315  33 
Core certificates of deposit (3)
 2,274  2,186  88  4 
Other domestic deposits of $250,000 or more
 244  320  (76) (24)
Negotiable CDS, brokered and other deposits
 3,522  3,417  105  3 
Total interest-bearing deposits
 102,499  82,107  20,392  25 
Short-term borrowings
 3,139  256  2,883  NM
Long-term debt
 7,401  7,413  (12) — 
Total interest-bearing liabilities
 113,039  89,776  23,263  26 
Demand deposits - noninterest-bearing
 42,157  36,139  6,018  17 
All other liabilities
 4,158  2,952  1,206  41 
Total Huntington Bancshares Inc shareholders’ equity 18,534  16,196  2,338  14 
Non-controlling interest 29  9  20  NM
Total equity $ 18,563  $ 16,205  $ 2,358  15 
Total liabilities and shareholders’ equity
 $ 177,917  $ 145,072  $ 32,845  23  %
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.
18

Huntington Bancshares Incorporated
Consolidated Year To Date Net Interest Margin - Interest Income / Expense (1)(2)
(Unaudited)
YTD Interest Income / Expense
Nine Months Ended September 30,
(dollar amounts in millions)
 2022 2021
Assets
Interest-bearing deposits at Federal Reserve Bank $ 29  $ 8 
Interest-bearing deposits in banks
 3  1 
Securities:
Trading account securities
 1  1 
Available-for-sale securities:
Taxable
 378  184 
Tax-exempt
 66  52 
Total available-for-sale securities
 444  236 
Held-to-maturity securities - taxable
 251  124 
Other securities 18  6 
Total securities
 714  367 
Loans held for sale
 33  31 
Loans and leases:
Commercial:
Commercial and industrial 1,297  1,053 
Commercial real estate:
Commercial 381  205 
Construction 54  38 
Commercial real estate 435  243 
Lease financing 185  125 
Total commercial 1,917  1,421 
Consumer:
Residential mortgage 478  338 
Automobile 347  352 
Home equity 360  282 
RV and marine 166  145 
Other consumer 90  83 
Total consumer 1,441  1,200 
Total loans and leases
 3,358  2,621 
Total earning assets
 $ 4,137  $ 3,028 
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing
 $ 56  $ 9 
Money market deposits 37  15 
Savings and other domestic deposits
 3  4 
Core certificates of deposit (3)
 2  1 
Other domestic deposits of $250,000 or more
 —  1 
Negotiable CDS, brokered and other deposits
 30  4 
Total interest-bearing deposits
 128  34 
Short-term borrowings
 36  — 
Long-term debt
 140  5 
Total interest-bearing liabilities
 304  39 
Net interest income
 $ 3,833  $ 2,989 
(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.
19

Huntington Bancshares Incorporated
Consolidated Year To Date Net Interest Margin - Yield
(Unaudited)
YTD Average Rates
Nine Months Ended September 30,
Fully-taxable equivalent basis (1)
 2022 2021
Assets
Interest-bearing deposits in Federal Reserve Bank 0.84  % 0.13  %
Interest-bearing deposits in banks
 1.85  0.04 
Securities:
Trading account securities
 3.75  3.21 
Available-for-sale securities:
Taxable
 2.24  1.33 
Tax-exempt
 3.04  2.43 
Total available-for-sale securities
 2.33  1.48 
Held-to-maturity securities - taxable
 2.05  1.81 
Other securities 2.83  1.57 
Total securities
 2.23  1.58 
Loans held for sale
 4.00  2.90 
Loans and leases: (3)
Commercial:
Commercial and industrial 4.02  3.90 
Commercial real estate:
Commercial 3.66  3.02 
Construction 4.04  3.58 
Commercial real estate 3.70  3.09 
Lease financing 4.95  4.96 
Total commercial 4.01  3.80 
Consumer:
Residential mortgage 3.10  3.02 
Automobile 3.44  3.65 
Home equity 4.62  3.86 
RV and marine 4.19  4.26 
Other consumer 9.21  10.44 
Total consumer 3.77  3.71 
Total loans and leases
 3.91  3.76 
Total earning assets
 3.40  % 3.03  %
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing
 0.18  % 0.04  %
Money market deposits 0.15  0.07 
Savings and other domestic deposits
 0.02  0.03 
Core certificates of deposit (4)
 0.10  0.05 
Other domestic deposits of $250,000 or more
 0.24  0.23 
Negotiable CDS, brokered and other deposits
 1.14  0.16 
Total interest-bearing deposits
 0.17  0.05 
Short-term borrowings
 1.52  0.26 
Long-term debt
 2.51  0.10 
Total interest-bearing liabilities
 0.36  0.06 
Net interest rate spread
 3.04  2.97 
Impact of noninterest-bearing funds on margin
 0.11  0.02 
Net interest margin
 3.15  % 2.99  %
Commercial Loan Derivative Impact
 (Unaudited)
YTD Average Rates
Nine Months Ended September 30,
Fully-taxable equivalent basis (1)
 2022 2021
Commercial loans (2)(3)
 3.93  % 3.41  %
Impact of commercial loan derivatives
 0.08  0.39 
Total commercial - as reported
 4.01  % 3.80  %
Average 1 Month LIBOR
 1.24  % 0.10  %
(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.
20

Huntington Bancshares Incorporated
Selected Year To Date Income Statement Data
(Unaudited)
Nine Months Ended September 30, Change
(dollar amounts in millions, except per share data) 2022 2021 Amount Percent
Interest income $ 4,115  $ 3,009  $ 1,106  37  %
Interest expense 304  39  265  NM
Net interest income 3,811  2,970  841  28 
Provision for credit losses 198  89  109  122 
Net interest income after provision for credit losses 3,613  2,881  732  25 
Service charges on deposit accounts 295  271  24  9 
Card and payment processing income 278  241  37  15 
Mortgage banking income 119  248  (129) (52)
Trust and investment management services 188  169  19  11 
Capital markets fees 169  104  65  63 
Insurance income 86  77  9  12 
Leasing revenue 91  58  33  57 
Bank owned life insurance income 41  47  (6) (13)
Gain on sale of loans 55  8  47  NM
Net gains (losses) on sales of securities —  10  (10) (100)
Other noninterest income 160  141  19  13 
Total noninterest income 1,482  1,374  108  8 
Personnel costs 1,771  1,703  68  4 
Outside data processing and other services 463  581  (118) (20)
Net occupancy 185  209  (24) (11)
Equipment 202  180  22  12 
Professional services 56  91  (35) (38)
Marketing 69  54  15  28 
Deposit and other insurance expense 53  33  20  61 
Amortization of intangibles 40  34  6  18 
Lease financing equipment depreciation 36  24  12  50 
Other noninterest expense 249  245  4  2 
Total noninterest expense 3,124  3,154  (30) (1)
Income before income taxes 1,971  1,101  870  79 
Provision for income taxes 371  206  165  80 
Income after income taxes 1,600  895  705  79 
Income attributable to non-controlling interest 7  1  6  NM
Net income attributable to Huntington Bancshares Inc 1,593  894  699  78 
Dividends on preferred shares 85  103  (18) (17)
Impact of preferred stock redemption —  15  (15) (100)
Net income applicable to common shares $ 1,508  $ 776  $ 732  94  %
Average common shares - basic 1,441  1,202  239  20 
Average common shares - diluted 1,464  1,225  239  20 
Per common share
Net income - basic $ 1.05  $ 0.65  $ 0.40  62  %
Net income - diluted 1.03  0.63  0.40  63 
Cash dividends declared 0.465  0.45  0.02  3 
Revenue - fully taxable equivalent (FTE)
Net interest income $ 3,811  $ 2,970  $ 841  28  %
FTE adjustment (1) 22  19  3  16 
Net interest income 3,833  2,989  844  28 
Noninterest income 1,482  1,374  108  8 
Total revenue (1) $ 5,315  $ 4,363  $ 952  22  %
NM - Not Meaningful
(1)On a fully-taxable equivalent (FTE) basis assuming a 21% tax rate.
21

Huntington Bancshares Incorporated
Year To Date Mortgage Banking Noninterest Income
(Unaudited)
Nine Months Ended September 30, Change
(dollar amounts in millions) 2022 2021 Amount Percent
Net origination and secondary marketing income
 $ 89  $ 244  $ (155) (64) %
Net mortgage servicing income
          Loan servicing income
 66  55  11  20 
          Amortization of capitalized servicing
 (45) (61) 16  26 
     Operating (expense) income 21  (6) 27  NM
          MSR valuation adjustment (1)
 112  28  84  NM
          (Losses) gains due to MSR hedging (105) (28) (77) NM
     Net MSR risk management
7  —  7  — 
Total net mortgage servicing income
 $ 28  $ (6) $ 34  NM
All other 2  10  (8) (80)
Mortgage banking income
 $ 119  $ 248  $ (129) (52) %
Mortgage origination volume
 $ 8,738  $ 12,516  $ (3,778) (30) %
Mortgage origination volume for sale
 4,121  7,448  (3,327) (45)
Third party mortgage loans serviced (2)
 31,988  30,554  1,434  5 
Mortgage servicing rights (2)
 486  338  148  44 
MSR % of investor servicing portfolio (2) 1.52  % 1.11  % 0.41  % 37  %
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.
22

Huntington Bancshares Incorporated
Year To Date Credit Reserves Analysis
(Unaudited)
Nine Months Ended September 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 (216) (303)
Recoveries of loans and leases previously charged off 145  122 
Net loan and lease charge-offs (71) (181)
Provision for loan and lease losses
 151  42 
Allowance on PCD loans and leases at acquisition —  432 
Allowance for loan and lease losses, end of period
 2,110  2,107 
Allowance for unfunded lending commitments, beginning of period $ 77  $ 52 
Provision for unfunded lending commitments 43  47 
Unfunded lending commitment losses —  (1)
Allowance for unfunded lending commitments, end of period 120  98 
Total allowance for credit losses
 $ 2,230  $ 2,205 
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases
 1.79  % 1.92  %
Nonaccrual loans and leases (NALs)
 351  245 
Nonperforming assets (NPAs)
 336  236 
Total allowance for credit losses (ACL) as % of:
Total loans and leases
 1.89  % 2.01  %
Nonaccrual loans and leases (NALs) 371  256 
Nonperforming assets (NPAs) 355  246 
23

Huntington Bancshares Incorporated
Year To Date Net Charge-Off Analysis
(Unaudited)
Nine Months Ended September 30,
(dollar amounts in millions)
 2022 2021
Net charge-offs (recoveries) by loan and lease type:
Commercial:
Commercial and industrial $ (11) $ 93 
Commercial real estate 1  21 
Lease financing 4  41 
Total commercial
 (6) 155 
Consumer:
Residential mortgage (2) — 
Automobile 3  (6)
Home equity (5) (4)
RV and marine
 6  3 
Other consumer 75  33 
Total consumer
 77  26 
Total net charge-offs $ 71  $ 181 
Nine Months Ended September 30,
2022 2021
Net charge-offs (recoveries) - annualized percentages:
Commercial:
Commercial and industrial (0.04) % 0.35  %
Commercial real estate 0.01  0.27 
Lease financing 0.11  1.64 
Total commercial (0.01) 0.42 
Consumer:
Residential mortgage (0.01) — 
Automobile 0.03  (0.06)
Home equity (0.06) (0.05)
RV and marine
 0.16  0.09 
Other consumer 7.72  4.07 
Total consumer 0.20  0.08 
Net charge-offs as a % of average loans 0.08  % 0.26  %

24

Huntington Bancshares Incorporated
Year To Date Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)
(Unaudited)
September 30,
(dollar amounts in millions)
 2022 2021
Nonaccrual loans and leases (NALs):
Commercial and industrial $ 288  $ 494 
Commercial real estate 110  103 
Lease financing 30  60 
Residential mortgage 94  108 
Automobile 4  3 
Home equity 75  87 
RV and marine 1  6 
Total nonaccrual loans and leases 602  861 
Other real estate, net:
Residential 11  6 
Commercial —  1 
Total other real estate, net 11  7 
Other NPAs (1)
 14  25 
Total nonperforming assets (3)
 $ 627  $ 893 
Nonaccrual loans and leases as a % of total loans and leases 0.51  % 0.79  %
NPA ratio (2)
 0.53  0.82 
Nine Months Ended September 30,
(dollar amounts in millions)
 2022 2021
Nonperforming assets, beginning of period $ 750  $ 563 
New nonperforming assets 504  440 
Acquired NPAs —  629 
Transfer to OREO —  — 
Returns to accruing status (180) (204)
Charge-offs (97) (180)
Payments (341) (264)
Sales and held-for-sale transfers
 (9) (91)
Nonperforming assets, end of period (2)
 $ 627  $ 893 
(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.
25

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) September 30, 2022 June 30, 2022
Pre-Provision Net Revenue (PPNR)
Total revenue $ 1,902  $ 1,746 
FTE adjustment 8  6 
Total revenue (FTE) (a) 1,910  1,752 
Noninterest expense (b) 1,053  1,018 
Less: Notable items 10  24 
Noninterest expense, excluding notable items (c) 1,043  994 
PPNR (a-b) 857  734 
PPNR, adjusted (a-c) 867  758  14  %
Return on Tangible Common Equity (ROTCE)
Average common shareholders' equity $ 16,150 
Less: intangible assets and goodwill, net of deferred tax 5,737 
Average tangible common shareholders' equity (d) $ 10,413 
Net income applicable to common shares $ 565 
Add: amortization of intangibles, net of deferred tax 11 
Net income, excluding amortization of intangibles (e) 576 
Add: Notable items, after tax 8 
Net income, excluding amortization of intangibles and notable items (f) $ 584 
ROTCE, annualized (e/d) 21.9  %
Adjusted ROTCE, annualized (f/d) 22.2  %
26