Document

Exhibit 99.2

HUNTINGTON BANCSHARES INCORPORATED

Quarterly Financial Supplement

March 31, 2023

Table of Contents


Quarterly Key Statistics			1



Consolidated Balance Sheets			3

Loans and Leases Composition			4

Deposits Composition			5

Consolidated Quarterly Average Balance Sheets			6

Consolidated Quarterly Net Interest Margin - Interest Income / Expense			7

Consolidated Quarterly Net Interest Margin - Yield			8

Selected Quarterly Income Statement Data			9

Quarterly Mortgage Banking Noninterest Income			10

Quarterly Credit Reserves Analysis			11

Quarterly Net Charge-Off Analysis			12

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

Quarterly Accruing Past Due Loans and Leases			14

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

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





































Reconciliation of Non-GAAP Financial Measures			17

Notes:

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

Fully-Taxable Equivalent Basis

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

Non-Regulatory Capital Ratios

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

•Tangible common equity to tangible assets, and

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

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

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

Huntington Bancshares Incorporated

Quarterly Key Statistics

(Unaudited)


	Three Months Ended
(dollar amounts in millions, except per share data)	March 31,			December 31,			March 31,			Percent Changes vs.
	2023			2022			2022			4Q22		1Q22
Net interest income (2)	$	1,418		$	1,471		$	1,154		(4)	%	23	%
FTE adjustment	(9)			(9)			(8)			—		(13)
Net interest income	1,409			1,462			1,146			(4)		23
Provision for credit losses	85			91			25			(7)		240
Noninterest income	512			499			499			3		3
Noninterest expense	1,086			1,077			1,053			1		3
Income before income taxes	750			793			567			(5)		32
Provision for income taxes	144			144			105			—		37
Income after income taxes	606			649			462			(7)		31
Income attributable to non-controlling interest	4			4			2			—		100
Net income attributable to Huntington	602			645			460			(7)		31
Dividends on preferred shares	29			28			28			4		4

Net income applicable to common shares	$	573		$	617		$	432		(7)	%	33

Net income per common share - diluted	$	0.39		$	0.42		$	0.29		(7)	%	34	%
Cash dividends declared per common share	0.155			0.155			0.155			—		—
Tangible book value per common share at end of period	7.32			6.82			7.47			7		(2)

Average common shares - basic	1,443			1,443			1,438			—		—
Average common shares - diluted	1,469			1,468			1,464			—		—
Ending common shares outstanding	1,444			1,443			1,439			—		—
Return on average assets	1.32		%	1.41		%	1.05		%
Return on average common shareholders’ equity	14.6			16.0			10.4
Return on average tangible common shareholders’ equity (1)	23.1			26.0			15.8
Net interest margin (2)	3.40			3.52			2.88
Efficiency ratio (3)	55.6			54.0			62.9
Effective tax rate	19.2			18.2			18.5
Average total assets	$	184,894		$	181,292		$	177,612		2		4
Average earning assets	169,112			165,545			162,414			2		4
Average loans and leases	120,420			118,907			111,142			1		8
Average loans and leases - linked quarter annualized growth rate	5.1		%	6.6		%	6.0		%
Average total deposits	$	146,144		$	145,672		$	142,917		—		2
Average core deposits (4)	141,077			140,696			139,148			—		1

Average Huntington shareholders’ equity	18,231			17,458			19,064			4		(4)
Average common total shareholders' equity	15,973			15,292			16,898			4		(5)
Average tangible common shareholders' equity	10,253			9,563			11,364			7		(10)
Total assets at end of period	189,070			182,906			176,856			3		7
Total Huntington shareholders’ equity at end of period	18,758			17,731			18,452			6		2

NCOs as a % of average loans and leases	0.19		%	0.17		%	0.07		%
NAL ratio	0.44			0.48			0.60
NPA ratio (5)	0.48			0.50			0.63
Allowance for loan and lease losses (ALLL) as a % of total loans and leases at the end of period	1.77			1.77			1.79
Allowance for credit losses (ACL) as a % of total loans and leases at the end of period	1.90			1.90			1.87
Common equity tier 1 risk-based capital ratio (6)	9.55			9.36			9.22
Tangible common equity / tangible asset ratio (7)	5.77			5.55			6.28

See Notes to the Quarterly Key Statistics.

Key Statistics Footnotes

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

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

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

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

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

(6)March 31, 2023, figures are estimated.

(7)Tangible common equity (total common equity less goodwill and other intangible assets) divided by tangible assets (total assets less goodwill and other intangible assets). Other intangible assets are net of deferred tax liability, calculated at a 21% tax rate.

Huntington Bancshares Incorporated

Consolidated Balance Sheets


	March 31,		December 31,
(dollar amounts in millions)	2023		2022		Percent Changes
	(Unaudited)
Assets
Cash and due from banks	$	1,568	$	1,796	(13)	%
Interest-bearing deposits at Federal Reserve Bank	8,801		4,908		79
Interest-bearing deposits in banks	203		214		(5)
Trading account securities	18		19		(5)
Available-for-sale securities	24,086		23,423		3
Held-to-maturity securities	16,977		17,052		—


Other securities	1,299		854		52
Loans held for sale	457		529		(14)
Loans and leases (1)	121,179		119,523		1
Allowance for loan and lease losses	(2,142)		(2,121)		(1)
Net loans and leases	119,037		117,402		1
Bank owned life insurance	2,753		2,753		—
Accrued income and other receivables	1,521		1,573		(3)
Premises and equipment	1,136		1,156		(2)
Goodwill	5,561		5,571		—
Servicing rights and other intangible assets	685		712		(4)
Other assets	4,968		4,944		—
Total assets	$	189,070	$	182,906	3	%

Liabilities and shareholders' equity
Liabilities
Deposits (2)	$	145,278	$	147,914	(2)	%
Short-term borrowings	6,898		2,027		240
Long-term debt	13,072		9,686		35
Other liabilities	5,011		5,510		(9)
Total liabilities	170,259		165,137		3

Shareholders' equity
Preferred stock	2,484		2,167		15
Common stock	15		14		7
Capital surplus	15,332		15,309		—
Less treasury shares, at cost	(82)		(80)		(3)
Accumulated other comprehensive income (loss)	(2,755)		(3,098)		11
Retained earnings	3,764		3,419		10
Total Huntington shareholders’ equity	18,758		17,731		6
Non-controlling interest	53		38		39
Total equity	18,811		17,769		6
Total liabilities and equity	$	189,070	$	182,906	3	%

Common shares authorized (par value of $0.01)	2,250,000,000		2,250,000,000
Common shares outstanding	1,443,614,966		1,443,068,036
Treasury shares outstanding	6,465,176		6,322,052
Preferred stock, authorized shares	6,617,808		6,617,808
Preferred shares outstanding	882,500		557,500

(1)See page 4 for detail of loans and leases.

(2)See page 5 for detail of deposits.

Huntington Bancshares Incorporated

Loans and Leases Composition

(Unaudited)


	March 31,				December 31,				September 30,				June 30,				March 31,
(dollar amounts in millions)	2023				2022				2022				2022				2022
Ending balances by type:
Total loans and leases
Commercial:
Commercial and industrial	$	47,049	40	%	$	45,127	38	%	$	44,144	38	%	$	43,440	38	%	$	42,236	37	%
Commercial real estate:
Commercial	15,122		12		15,132		13		14,717		12		14,173		12		13,381		12
Construction	1,255		1		1,502		1		1,739		2		1,522		1		2,010		2
Commercial real estate	16,377		13		16,634		14		16,456		14		15,695		13		15,391		14
Lease financing	5,244		4		5,252		4		5,093		4		5,043		4		4,978		4
Total commercial	68,670		57		67,013		56		65,693		56		64,178		55		62,605		55
Consumer:
Residential mortgage	22,472		19		22,226		19		21,816		18		21,220		18		19,942		18
Automobile	13,187		11		13,154		11		13,430		11		13,622		12		13,480		12
Home equity	10,166		8		10,375		9		10,440		9		10,426		9		10,343		9
RV and marine	5,404		4		5,376		4		5,436		5		5,453		5		5,191		5
Other consumer	1,280		1		1,379		1		1,332		1		1,322		1		1,256		1
Total consumer	52,509		43		52,510		44		52,454		44		52,043		45		50,212		45
Total loans and leases	$	121,179	100	%	$	119,523	100	%	$	118,147	100	%	$	116,221	100	%	$	112,817	100	%


	March 31,				December 31,				September 30,				June 30,				March 31,
(dollar amounts in millions)	2023				2022				2022				2022				2022
Ending balances by business segment:
Commercial Banking	$	56,828	47	%	$	55,497	47	%	$	54,515	47	%	$	52,845	45	%	$	51,132	45	%
Consumer and Business Banking	32,236		27		32,386		27		32,115		27		32,144		28		31,756		29
Vehicle Finance	22,071		18		21,741		18		21,707		18		21,848		19		21,344		19
RBHPCG (Regional Banking and The Huntington Private Client Group)	9,851		8		9,760		8		9,586		8		9,181		8		8,435		7
Treasury / Other	193		—		139		—		224		—		203		—		150		—
Total loans and leases	$	121,179	100	%	$	119,523	100	%	$	118,147	100	%	$	116,221	100	%	$	112,817	100	%

Average balances by business segment:
Commercial Banking	$	56,146	47	%	$	54,979	47	%	$	53,255	46	%	$	51,280	45	%	$	49,515	45	%
Consumer and Business Banking	32,235		27		32,259		27		32,116		27		31,926		28		32,134		29
Vehicle Finance	21,969		18		21,721		18		21,748		19		21,601		19		21,155		19
RBHPCG	9,778		8		9,666		8		9,416		8		8,786		8		8,178		7
Treasury / Other	292		—		282		—		429		—		356		—		160		—
Total loans and leases	$	120,420	100	%	$	118,907	100	%	$	116,964	100	%	$	113,949	100	%	$	111,142	100	%

Huntington Bancshares Incorporated

Deposits Composition

(Unaudited)


	March 31,				December 31,				September 30,				June 30,				March 31,
(dollar amounts in millions)	2023				2022				2022				2022				2022
Ending balances:
Total deposits by type:
Demand deposits - noninterest-bearing	$	36,789	25	%	$	38,242	26	%	$	40,762	28	%	$	42,131	29	%	$	43,824	29	%
Demand deposits - interest-bearing	39,827		28		43,136		29		43,673		30		41,433		28		42,099		29
Money market deposits	37,276		26		36,082		24		33,811		23		34,257		24		33,444		23
Savings and other domestic deposits	19,546		13		20,357		14		21,274		15		21,583		15		21,716		15
Core certificates of deposit (1)	6,981		5		4,324		3		2,115		1		2,103		1		2,358		2
Total core deposits	140,419		97		142,141		96		141,635		97		141,507		97		143,441		98
Other domestic deposits of $250,000 or more	282		—		220		—		186		—		221		—		274		—
Negotiable CDS, brokered and other deposits	4,577		3		5,553		4		4,492		3		3,707		3		3,250		2

Total deposits	$	145,278	100	%	$	147,914	100	%	$	146,313	100	%	$	145,435	100	%	$	146,965	100	%

Total core deposits:
Commercial	$	61,132	44	%	$	64,107	45	%	$	65,151	46	%	$	63,629	45	%	$	64,013	45	%
Consumer	79,287		56		78,034		55		76,484		54		77,878		55		79,428		55
Total core deposits	$	140,419	100	%	$	142,141	100	%	$	141,635	100	%	$	141,507	100	%	$	143,441	100	%

Total deposits by business segment:
Commercial Banking	$	35,243	24	%	$	37,509	25	%	$	37,194	25	%	$	34,670	24	%	$	35,034	24	%
Consumer and Business Banking	94,729		65		93,676		64		93,854		65		95,693		66		96,907		65
Vehicle Finance	1,018		1		1,136		1		1,173		1		1,291		1		1,323		1
RBHPCG	9,009		6		9,550		6		8,982		6		9,226		6		9,672		7
Treasury / Other (2)	5,279		4		6,043		4		5,110		3		4,555		3		4,029		3
Total deposits	$	145,278	100	%	$	147,914	100	%	$	146,313	100	%	$	145,435	100	%	$	146,965	100	%

Average balances:


Total core deposits:
Commercial	$	63,423	45	%	$	65,128	46	%	$	65,278	46	%	$	63,921	45	%	$	61,772	44	%
Consumer	77,654		55		75,568		54		76,414		54		77,881		55		77,376		56
Total core deposits	$	141,077	100	%	$	140,696	100	%	$	141,692	100	%	$	141,802	100	%	$	139,148	100	%

Average deposits by business segment:
Commercial Banking	$	36,897	25	%	$	37,006	25	%	$	36,636	25	%	$	35,156	24	%	$	33,355	23	%
Consumer and Business Banking	93,210		64		92,654		64		93,924		65		95,263		65		94,464		66
Vehicle Finance	1,101		1		1,171		1		1,252		1		1,257		1		1,289		1
RBHPCG	9,231		6		9,249		6		9,242		6		9,493		7		9,520		7
Treasury / Other (2)	5,705		4		5,592		4		4,954		3		3,839		3		4,289		3
Total deposits	$	146,144	100	%	$	145,672	100	%	$	146,008	100	%	$	145,008	100	%	$	142,917	100	%

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

(2)Comprised primarily of national market deposits.

Huntington Bancshares Incorporated

Consolidated Quarterly Average Balance Sheets

(Unaudited)


	Quarterly Average Balances (1)
	March 31,		December 31,		September 30,		June 30,		March 31,		Percent Changes vs.
(dollar amounts in millions)	2023		2022		2022		2022		2022		4Q22		1Q22
Assets
Interest-bearing deposits at Federal Reserve Bank	$	6,101	$	4,615	$	3,204	$	3,532	$	7,195	32	%	(15)	%
Interest-bearing deposits in banks	249		305		260		161		174		(18)		43
Securities:
Trading account securities	21		29		24		30		46		(28)		(54)
Available-for-sale securities:
Taxable	21,368		20,467		21,677		21,672		24,205		4		(12)
Tax-exempt	2,640		2,706		2,917		2,859		2,886		(2)		(9)
Total available-for-sale securities	24,008		23,173		24,594		24,531		27,091		4		(11)


Held-to-maturity securities - taxable	16,977		17,022		17,188		17,234		14,556		—		17





Other securities	886		857		804		755		967		3		(8)
Total securities	41,892		41,081		42,610		42,550		42,660		2		(2)
Loans held for sale	450		637		986		1,033		1,243		(29)		(64)
Loans and leases: (2)
Commercial:
Commercial and industrial	46,110		44,747		43,598		42,689		41,397		3		11
Commercial real estate:
Commercial	15,200		14,937		14,405		13,516		13,186		2		15
Construction	1,400		1,676		1,697		1,760		1,877		(16)		(25)
Commercial real estate	16,600		16,613		16,102		15,276		15,063		—		10
Lease financing	5,209		5,080		4,981		4,919		4,912		3		6
Total commercial	67,919		66,440		64,681		62,884		61,372		2		11
Consumer:
Residential mortgage	22,327		22,011		21,552		20,527		19,505		1		14
Automobile	13,245		13,284		13,514		13,557		13,463		—		(2)
Home equity	10,258		10,417		10,431		10,373		10,414		(2)		(1)
RV and marine	5,366		5,408		5,454		5,317		5,103		(1)		5
Other consumer	1,305		1,347		1,332		1,291		1,285		(3)		2
Total consumer	52,501		52,467		52,283		51,065		49,770		—		5
Total loans and leases	120,420		118,907		116,964		113,949		111,142		1		8
Total earning assets	169,112		165,545		164,024		161,225		162,414		2		4
Cash and due from banks	1,598		1,650		1,697		1,669		1,648		(3)		(3)
Goodwill and other intangible assets	5,759		5,771		5,781		5,613		5,584		—		3
All other assets	10,568		10,458		10,154		10,107		10,013		1		6
Allowance for loan and lease losses	(2,143)		(2,132)		(2,099)		(2,053)		(2,047)		(1)		(5)
Total assets	$	184,894	$	181,292	$	179,557	$	176,561	$	177,612	2	%	4	%
Liabilities and shareholders' equity
Interest-bearing deposits:
Demand deposits - interest-bearing	$	40,654	$	42,705	$	42,038	$	41,712	$	40,634	(5)	%	—	%
Money market deposits	37,301		34,390		34,058		33,791		32,672		8		14
Savings and other domestic deposits	19,877		20,831		21,439		21,683		21,316		(5)		(7)
Core certificates of deposit (3)	5,747		2,926		2,040		2,228		2,560		96		124

Other domestic deposits of $250,000 or more	252		198		193		225		316		27		(20)
Negotiable CDS, brokered and other deposits	4,815		4,777		4,124		2,981		3,453		1		39

Total interest-bearing deposits	108,646		105,827		103,892		102,620		100,951		3		8
Short-term borrowings	4,371		545		2,609		2,103		4,728		702		(8)
Long-term debt	11,047		12,650		8,251		7,024		6,914		(13)		60
Total interest-bearing liabilities	124,064		119,022		114,752		111,747		112,593		4		10
Demand deposits - noninterest-bearing	37,498		39,845		42,116		42,388		41,966		(6)		(11)
All other liabilities	5,056		4,929		4,340		4,168		3,964		3		28
Total liabilities	166,618		163,796		161,208		158,303		158,523		2		5
Total Huntington shareholders’ equity	18,231		17,458		18,317		18,228		19,064		4		(4)
Non-controlling interest	45		38		32		30		25		18		80
Total equity	18,276		17,496		18,349		18,258		19,089		4		(4)
Total liabilities and equity	$	184,894	$	181,292	$	179,557	$	176,561	$	177,612	2	%	4	%

(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
	March 31,		December 31,		September 30,		June 30,		March 31,
(dollar amounts in millions)	2023		2022		2022		2022		2022
Assets
Interest-bearing deposits at Federal Reserve Bank	$	71	$	46	$	19	$	7	$	3
Interest-bearing deposits in banks	5		5		2		1		—
Securities:
Trading account securities	—		—		—		1		—
Available-for-sale securities:
Taxable	232		198		165		123		90
Tax-exempt	29		28		25		19		22
Total available-for-sale securities	261		226		190		142		112
Held-to-maturity securities - taxable	102		100		95		90		66



Other securities	10		9		7		6		5
Total securities	373		335		292		239		183
Loans held for sale	7		8		13		10		10
Loans and leases:
Commercial:
Commercial and industrial	643		578		490		415		392
Commercial real estate:
Commercial	250		220		169		115		97
Construction	26		28		21		16		17
Commercial real estate	276		248		190		131		114
Lease financing	68		66		63		61		61
Total commercial	987		892		743		607		567
Consumer:
Residential mortgage	190		183		174		158		146
Automobile	129		125		120		115		112
Home equity	181		172		143		115		102
RV and marine	58		61		59		55		52
Other consumer	36		36		32		30		28
Total consumer	594		577		528		473		440
Total loans and leases	1,581		1,469		1,271		1,080		1,007
Total earning assets	$	2,037	$	1,863	$	1,597	$	1,337	$	1,203

Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	$	132	$	102	$	42	$	11	$	3
Money market deposits	172		75		25		8		4
Savings and other domestic deposits	3		2		1		1		1
Core certificates of deposit (3)	43		10		1		—		1

Other domestic deposits of $250,000 or more	2		1		—		—		—
Negotiable CDS, brokered and other deposits	54		45		23		5		2

Total interest-bearing deposits	406		235		92		25		11
Short-term borrowings	60		10		22		7		7
Long-term debt	153		147		71		38		31
Total interest-bearing liabilities	619		392		185		70		49
Net interest income	$	1,418	$	1,471	$	1,412	$	1,267	$	1,154

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

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

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

Huntington Bancshares Incorporated

Consolidated Quarterly Net Interest Margin - Yield

(Unaudited)


	Quarterly Average Rates
	March 31,		December 31,		September 30,		June 30,		March 31,
Fully-taxable equivalent basis (1)	2023		2022		2022		2022		2022
Assets
Interest-bearing deposits at Federal Reserve Bank	4.65	%	3.99	%	2.39	%	0.80	%	0.17	%
Interest-bearing deposits in banks	8.50		5.72		3.31		1.32		0.15
Securities:
Trading account securities	5.37		5.45		4.12		3.99		3.39
Available-for-sale securities:
Taxable	4.34		3.87		3.06		2.25		1.49
Tax-exempt	4.40		4.21		3.39		2.71		3.00
Total available-for-sale securities	4.35		3.91		3.09		2.30		1.65
Held-to-maturity securities - taxable	2.41		2.34		2.21		2.10		1.81



Other securities	4.35		4.15		3.21		3.62		1.88
Total securities	3.56		3.26		2.74		2.24		1.72
Loans held for sale	5.85		5.42		4.98		4.08		3.15
Loans and leases: (3)
Commercial:
Commercial and industrial	5.58		5.05		4.40		3.84		3.79
Commercial real estate:
Commercial	6.58		5.78		4.57		3.38		2.94
Construction	7.40		6.54		4.95		3.70		3.52
Commercial real estate	6.65		5.85		4.61		3.41		3.01
Lease financing	5.25		5.02		4.95		4.98		4.93
Total commercial	5.82		5.25		4.50		3.83		3.69
Consumer:
Residential mortgage	3.41		3.33		3.23		3.09		2.99
Automobile	3.94		3.74		3.53		3.40		3.38
Home equity	7.14		6.57		5.43		4.44		3.99
RV and marine	4.42		4.45		4.29		4.12		4.15
Other consumer	11.18		10.38		9.55		9.08		8.96
Total consumer	4.57		4.37		4.02		3.70		3.57
Total loans and leases	5.27		4.86		4.28		3.77		3.64
Total earning assets	4.89		4.46		3.86		3.33		3.00
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	1.32		0.94		0.40		0.10		0.03
Money market deposits	1.87		0.86		0.29		0.09		0.05
Savings and other domestic deposits	0.07		0.03		0.02		0.02		0.02
Core certificates of deposit (4)	3.01		1.42		0.10		0.07		0.14

Other domestic deposits of $250,000 or more	2.45		1.31		0.35		0.23		0.08
Negotiable CDS, brokered and other deposits	4.56		3.74		2.25		0.72		0.17

Total interest-bearing deposits	1.52		0.88		0.35		0.10		0.04
Short-term borrowings	5.56		7.71		3.31		1.40		0.57
Long-term debt	5.52		4.66		3.40		2.16		1.83
Total interest-bearing liabilities	2.02		1.31		0.64		0.25		0.18

Net interest rate spread	2.87		3.15		3.22		3.08		2.82
Impact of noninterest-bearing funds on margin	0.53		0.37		0.20		0.07		0.06
Net interest margin	3.40	%	3.52	%	3.42	%	3.15	%	2.88	%


Commercial Loan Derivative Impact
(Unaudited)	Average Rates
	2023		2022		2022		2022		2022
Fully-taxable equivalent basis (1)	First		Fourth		Third		Second		First
Commercial loans (2)(3)	6.42	%	5.68	%	4.62	%	3.69	%	3.47	%
Impact of commercial loan derivatives	(0.60)		(0.43)		(0.12)		0.14		0.22
Total commercial - as reported	5.82	%	5.25	%	4.50	%	3.83	%	3.69	%
Average 1 Month LIBOR	4.62	%	3.89	%	2.46	%	1.01	%	0.23	%
Average SOFR	4.50	%	3.61	%	2.14	%	0.70	%	0.09	%

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

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

(3)Includes nonaccrual loans 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)	March 31,		December 31,		September 30,		June 30,		March 31,
	2023		2022		2022		2022		2022
Interest income	$	2,028	$	1,854	$	1,589	$	1,331	$	1,195
Interest expense	619		392		185		70		49
Net interest income	1,409		1,462		1,404		1,261		1,146
Provision for credit losses	85		91		106		67		25
Net interest income after provision for credit losses	1,324		1,371		1,298		1,194		1,121
Service charges on deposit accounts	83		89		93		105		97
Card and payment processing income	93		96		96		96		86
Capital markets fees	59		83		73		54		42
Trust and investment management services	62		61		60		63		65
Mortgage banking income	26		25		26		44		49
Leasing revenue	26		35		29		27		35
Insurance income	34		31		28		27		31
Gain on sale of loans	3		2		15		12		28
Bank owned life insurance income	16		15		13		11		17
Net gains on sales of securities	1		—		—		—		—
Other noninterest income	109		62		65		46		49
Total noninterest income	512		499		498		485		499
Personnel costs	649		630		614		577		580
Outside data processing and other services	151		147		145		153		165
Equipment	64		67		60		61		81
Net occupancy	60		61		63		58		64
Marketing	25		22		24		24		21
Professional services	16		21		18		19		19
Deposit and other insurance expense	20		14		15		20		18
Amortization of intangibles	13		13		13		13		14
Lease financing equipment depreciation	8		9		11		11		14
Other noninterest expense	80		93		90		82		77
Total noninterest expense	1,086		1,077		1,053		1,018		1,053
Income before income taxes	750		793		743		661		567
Provision for income taxes	144		144		146		120		105
Income after income taxes	606		649		597		541		462
Income attributable to non-controlling interest	4		4		3		2		2
Net income attributable to Huntington	602		645		594		539		460
Dividends on preferred shares	29		28		29		28		28

Net income applicable to common shares	$	573	$	617	$	565	$	511	$	432

Average common shares - basic	1,443		1,443		1,443		1,441		1,438
Average common shares - diluted	1,469		1,468		1,465		1,463		1,464

Per common share
Net income - basic	$	0.40	$	0.43	$	0.39	$	0.35	$	0.30
Net income - diluted	0.39		0.42		0.39		0.35		0.29
Cash dividends declared	0.155		0.155		0.155		0.155		0.155

Revenue - fully-taxable equivalent (FTE)
Net interest income	$	1,409	$	1,462	$	1,404	$	1,261	$	1,146
FTE adjustment	9		9		8		6		8
Net interest income (1)	1,418		1,471		1,412		1,267		1,154
Noninterest income	512		499		498		485		499
Total revenue (1)	$	1,930	$	1,970	$	1,910	$	1,752	$	1,653

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

Huntington Bancshares Incorporated

Quarterly Mortgage Banking Noninterest Income

(Unaudited)


	Three Months Ended
	March 31,			December 31,			September 30,			June 30,			March 31,			Percent Changes vs.
(dollar amounts in millions)	2023			2022			2022			2022			2022			4Q22		1Q22
Net origination and secondary marketing income	$	16		$	16		$	25		$	27		$	37		—	%	(57)	%
Net mortgage servicing income
Loan servicing income	23			22			22			22			22			5		5
Amortization of capitalized servicing	(10)			(11)			(14)			(16)			(15)			9		33
Operating income	13			11			8			6			7			18		86
MSR valuation adjustment (1)	(12)			2			17			44			51			(700)		(124)
Gains (losses) due to MSR hedging	9			(4)			(24)			(34)			(47)			325		119
Net MSR risk management	(3)			(2)			(7)			10			4			(50)		(175)
Total net mortgage servicing income	$	10		$	9		$	1		$	16		$	11		11	%	(9)	%
All other	—			—			—			1			1			—		(100)
Mortgage banking income	$	26		$	25		$	26		$	44		$	49		4	%	(47)	%

Mortgage origination volume	$	1,412		$	1,719		$	2,491		$	3,366		$	2,881		(18)	%	(51)	%
Mortgage origination volume for sale	809			889			1,339			1,263			1,519			(9)		(47)

Third party mortgage loans serviced (2)	32,496			32,354			31,988			31,704			31,570			—		3
Mortgage servicing rights (2)	485			494			486			463			416			(2)		17
MSR % of investor servicing portfolio (2)	1.49		%	1.53		%	1.52		%	1.46		%	1.32		%	(3)	%	13	%

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

(2)At period end.

Huntington Bancshares Incorporated

Quarterly Credit Reserves Analysis

(Unaudited)


	Three Months Ended
	March 31,			December 31,			September 30,			June 30,			March 31,
(dollar amounts in millions)	2023			2022			2022			2022			2022
Allowance for loan and lease losses, beginning of period	$	2,121		$	2,110		$	2,074		$	2,018		$	2,030

Loan and lease charge-offs	(99)			(97)			(83)			(52)			(81)
Recoveries of loans and leases previously charged-off	42			47			39			44			62
Net loan and lease charge-offs	(57)			(50)			(44)			(8)			(19)
Provision (benefit) for loan and lease losses	78			61			80			64			7


Allowance for loan and lease losses, end of period	2,142			2,121			2,110			2,074			2,018
Allowance for unfunded lending commitments, beginning of period	150			120			94			91			77

Provision for unfunded lending commitments	7			30			26			3			14


Allowance for unfunded lending commitments, end of period	157			150			120			94			91
Total allowance for credit losses, end of period	$	2,299		$	2,271		$	2,230		$	2,168		$	2,109
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases	1.77		%	1.77		%	1.79		%	1.78		%	1.79		%
Nonaccrual loans and leases (NALs)	402			373			351			316			296
Nonperforming assets (NPAs)	371			357			336			304			285
Total allowance for credit losses (ACL) as % of:
Total loans and leases	1.90		%	1.90		%	1.89		%	1.87		%	1.87		%
Nonaccrual loans and leases (NALs)	431			400			371			330			309
Nonperforming assets (NPAs)	398			382			355			318			298


	Three Months Ended
	March 31,		December 31,		September 30,		June 30,		March 31,
(dollar amounts in millions)	2023		2022		2022		2022		2022
Allocation of allowance for credit losses
Commercial
Commercial and industrial	$	915	$	890	$	860	$	804	$	937
Commercial real estate	492		482		504		498		521
Lease financing	50		52		50		40		56
Total commercial	1,457		1,424		1,414		1,342		1,514
Consumer
Residential mortgage	176		187		178		177		139
Automobile	151		141		118		146		101
Home equity	118		105		126		131		60
RV and marine	144		143		127		147		96
Other consumer	96		121		147		131		108
Total consumer	685		697		696		732		504
Total allowance for loan and lease losses	2,142		2,121		2,110		2,074		2,018
Allowance for unfunded lending commitments	157		150		120		94		91
Total allowance for credit losses	$	2,299	$	2,271	$	2,230	$	2,168	$	2,109

Huntington Bancshares Incorporated

Quarterly Net Charge-Off Analysis

(Unaudited)


	Three Months Ended
	March 31,			December 31,			September 30,			June 30,			March 31,
(dollar amounts in millions)	2023			2022			2022			2022			2022
Net charge-offs (recoveries) by loan and lease type:
Commercial:
Commercial and industrial	$	16		$	9		$	16		$	(4)		$	(23)



Commercial real estate	18			7			(3)			(4)			8
Lease financing	(5)			5			2			(3)			5
Total commercial	29			21			15			(11)			(10)
Consumer:
Residential mortgage	—			—			(1)			(1)			—
Automobile	5			3			3			—			—
Home equity	(1)			—			(2)			(2)			(1)
RV and marine	2			2			2			1			3
Other consumer	22			24			27			21			27
Total consumer	28			29			29			19			29
Total net charge-offs	$	57		$	50		$	44		$	8		$	19


	Three Months Ended
	March 31,			December 31,			September 30,			June 30,			March 31,
	2023			2022			2022			2022			2022
Net charge-offs (recoveries) - annualized percentages:
Commercial:
Commercial and industrial	0.14		%	0.08		%	0.15		%	(0.04)		%	(0.22)		%



Commercial real estate	0.42			0.17			(0.06)			(0.11)			0.22
Lease financing	(0.37)			0.40			0.17			(0.24)			0.40
Total commercial	0.17			0.13			0.10			(0.07)			(0.06)
Consumer:
Residential mortgage	0.01			(0.01)			(0.02)			(0.02)			—
Automobile	0.14			0.12			0.07			—			0.01
Home equity	(0.02)			(0.04)			(0.07)			(0.08)			(0.03)
RV and marine	0.18			0.15			0.17			0.10			0.20
Other consumer	6.37			7.08			8.09			6.60			8.46
Total consumer	0.21			0.22			0.22			0.15			0.23
Net charge-offs as a % of average loans and leases	0.19		%	0.17		%	0.15		%	0.03		%	0.07		%

Huntington Bancshares Incorporated

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

(Unaudited)


	March 31,			December 31,			September 30,			June 30,			March 31,
(dollar amounts in millions)	2023			2022			2022			2022			2022
Nonaccrual loans and leases (NALs):
Commercial and industrial	$	273		$	288		$	288		$	324		$	323
Commercial real estate	86			92			110			117			114
Lease financing	14			18			30			22			38
Residential mortgage	81			90			94			111			117
Automobile	4			4			4			4			4
Home equity	74			76			75			78			84
RV and marine	1			1			1			1			2

Total nonaccrual loans and leases	533			569			602			657			682
Other real estate, net:
Residential	20			11			11			11			10
Commercial	—			—			—			—			1
Total other real estate, net	20			11			11			11			11
Other NPAs (1)	25			14			14			14			15
Total nonperforming assets	$	578		$	594		$	627		$	682		$	708

Nonaccrual loans and leases as a % of total loans and leases	0.44		%	0.48		%	0.51		%	0.57		%	0.60		%
NPA ratio (2)	0.48			0.50			0.53			0.59			0.63
(NPA+90days)/(Loan+OREO) (3)	0.63			0.67			0.72			0.77			0.88


	Three Months Ended
	March 31,		December 31,		September 30,		June 30,		March 31,
(dollar amounts in millions)	2023		2022		2022		2022		2022
Nonperforming assets, beginning of period	$	594	$	627	$	682	$	708	$	750
New nonperforming assets	237		251		119		181		204


Returns to accruing status	(73)		(84)		(42)		(81)		(57)
Charge-offs	(54)		(54)		(39)		(26)		(32)
Payments	(124)		(144)		(89)		(97)		(155)
Sales	(2)		(2)		(4)		(3)		(2)

Nonperforming assets, end of period	$	578	$	594	$	627	$	682	$	708

(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)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)


	March 31,			December 31,			September 30,			June 30,			March 31,
(dollar amounts in millions)	2023			2022			2022			2022			2022
Accruing loans and leases past due 90+ days:
Commercial and industrial	$	12		$	23		$	29		$	11		$	10

Lease financing	10			9			18			10			12
Residential mortgage (excluding loans guaranteed by the U.S. Government)	20			21			17			14			25
Automobile	7			9			6			6			6
Home equity	18			15			12			13			12
RV and marine	2			3			2			2			1
Other consumer	2			2			3			2			2
Total, excl. loans guaranteed by the U.S. Government	71			82			87			58			68
Add: loans guaranteed by U.S. Government	114			125			136			154			212
Total accruing loans and leases past due 90+ days, including loans guaranteed by the U.S. Government	$	185		$	207		$	223		$	212		$	280

Ratios:
Excluding loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.06		%	0.07		%	0.07		%	0.05		%	0.06		%
Guaranteed by U.S. Government, as a percent of total loans and leases	0.09			0.10			0.12			0.13			0.19
Including loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.15			0.17			0.19			0.18			0.25

Huntington Bancshares Incorporated

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

(Unaudited)


	March 31,			December 31,			September 30,			June 30,			March 31,
(dollar amounts in millions)	2023			2022			2022			2022			2022
Common equity tier 1 risk-based capital ratio: (1)
Total Huntington shareholders’ equity	$	18,758		$	17,731		$	17,136		$	17,950		$	18,452
Regulatory capital adjustments:
CECL transitional amount (2)	219			328			328			328			328
Shareholders’ preferred equity and related surplus	(2,494)			(2,177)			(2,177)			(2,177)			(2,177)
Accumulated other comprehensive loss	2,755			3,098			3,276			2,098			1,314
Goodwill and other intangibles, net of taxes	(5,636)			(5,663)			(5,675)			(5,686)			(5,474)
Deferred tax assets from tax loss and credit carryforwards	(14)			(27)			(29)			(36)			(46)
Common equity tier 1 capital	13,588			13,290			12,859			12,477			12,397
Additional tier 1 capital
Shareholders’ preferred equity and related surplus	2,494			2,177			2,177			2,177			2,177


Tier 1 capital	16,082			15,467			15,036			14,654			14,574
Long-term debt and other tier 2 qualifying instruments	1,395			1,424			1,441			1,462			1,464
Qualifying allowance for loan and lease losses	1,779			1,682			1,637			1,541			1,485
Tier 2 capital	3,174			3,106			3,078			3,003			2,949
Total risk-based capital	$	19,256		$	18,573		$	18,114		$	17,657		$	17,523
Risk-weighted assets (RWA)(1)	$	142,335		$	141,940		$	138,759		$	137,841		$	134,484
Common equity tier 1 risk-based capital ratio (1)	9.55		%	9.36		%	9.27		%	9.05		%	9.22		%
Other regulatory capital data:
Tier 1 leverage ratio (1)	8.79			8.60			8.51			8.46			8.43
Tier 1 risk-based capital ratio (1)	11.30			10.90			10.84			10.63			10.84
Total risk-based capital ratio (1)	13.53			13.09			13.05			12.81			13.03
Non-regulatory capital data:
Tangible common equity / RWA ratio (1)	7.43			6.93			6.66			7.28			8.00

(1)March 31, 2023, 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, 2023, 50% of the cumulative CECL deferral has been phased in. As of March 31, 2022, June 30, 2022, September 30, 2022, and December 31, 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


	March 31,		December 31,		September 30,		June 30,		March 31,
	2023		2022		2022		2022		2022






Cash dividends declared per common share	$	0.155	$	0.155	$	0.155	$	0.155	$	0.155
Common shares outstanding (in millions)
Average - basic	1,443		1,443		1,443		1,441		1,438
Average - diluted	1,469		1,468		1,465		1,463		1,464
Ending	1,444		1,443		1,443		1,442		1,439
Tangible book value per common share (1)	$	7.32	$	6.82	$	6.40	$	6.96	$	7.47

Non-regulatory capital


	March 31,			December 31,			September 30,			June 30,			March 31,
(dollar amounts in millions)	2023			2022			2022			2022			2022
Calculation of tangible equity / asset ratio:
Total Huntington shareholders’ equity	$	18,758		$	17,731		$	17,136		$	17,950		$	18,452
Goodwill and other intangible assets	(5,741)			(5,766)			(5,775)			(5,788)			(5,577)

Deferred tax liability on other intangible assets (1)	38			41			43			46			48
Total tangible equity	13,055			12,006			11,404			12,208			12,923
Preferred equity	(2,484)			(2,167)			(2,167)			(2,167)			(2,167)
Total tangible common equity	$	10,571		$	9,839		$	9,237		$	10,041		$	10,756
Total assets	$	189,070		$	182,906		$	179,402		$	178,782		$	176,856
Goodwill and other intangible assets	(5,741)			(5,766)			(5,775)			(5,788)			(5,577)
Deferred tax liability on other intangible assets (1)	38			41			43			46			48
Total tangible assets	$	183,367		$	177,181		$	173,670		$	173,040		$	171,327
Tangible equity / tangible asset ratio	7.12		%	6.78		%	6.57		%	7.06		%	7.54		%
Tangible common equity / tangible asset ratio	5.77			5.55			5.32			5.80			6.28
Other data:
Number of employees (Average full-time equivalent)	20,198			20,007			19,997			19,866			19,722
Number of domestic full-service branches (2)	1,001			1,032			1,032			1,032			1,030
ATM Count	1,668			1,695			1,715			1,731			1,729

(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

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						Percent Changes vs.
($ in millions)	March 31, 2023		December 31, 2022		March 31, 2022		4Q22		1Q22
Pre-Provision Net Revenue (PPNR)
Total revenue (GAAP)	$	1,921	$	1,961	$	1,645
FTE adjustment	9		9		8
Total revenue (FTE) (a)	1,930		1,970		1,653
Less: net gain/(loss) on securities	1		—		—
Less: Notable items	57		—		—
Total revenue (FTE), excluding net gain/(loss) on securities and notable items (b)	1,872		1,970		1,653

Noninterest expense (GAAP) (c)	1,086		1,077		1,053


Less: Notable items	42		15		46
Noninterest expense, excluding notable items (d)	1,044		1,062		1,007

PPNR (a-c)	844		893		600		(5)	%	41	%
PPNR, adjusted (b-d)	828		908		646		(9)	%	28	%