Document

Exhibit 99.2

HUNTINGTON BANCSHARES INCORPORATED

Quarterly Financial Supplement

September 30, 2023

Table of Contents


Quarterly Key Statistics			1

Year to Date Key Statistics			2

Consolidated Balance Sheets			4

Loans and Leases Composition			5

Deposits Composition			6

Consolidated Quarterly Average Balance Sheets			7

Consolidated Quarterly Net Interest Margin - Interest Income / Expense			8

Consolidated Quarterly Net Interest Margin - Yield			9

Selected Quarterly Income Statement Data			10

Quarterly Mortgage Banking Noninterest Income			11

Quarterly Credit Reserves Analysis			12

Quarterly Net Charge-Off Analysis			13

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

Quarterly Accruing Past Due Loans and Leases			15

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

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

Consolidated Year to Date Average Balance Sheets			18

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

Consolidated Year to Date Net Interest Margin - Yield			20

Selected Year to Date Income Statement Data			21

Year to Date Mortgage Banking Noninterest Income			22

Year to Date Credit Reserves Analysis			23

Year to Date Net Charge-Off Analysis			24

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

Reconciliation of Non-GAAP Financial Measures			25

Notes:

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

Fully-Taxable Equivalent Basis

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

Non-Regulatory Capital Ratios

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

•Tangible common equity to tangible assets, and

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

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

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

Huntington Bancshares Incorporated

Quarterly Key Statistics

(Unaudited)


	Three Months Ended
(dollar amounts in millions, except per share data)	September 30,			June 30,			September 30,			Percent Changes vs.
	2023			2023			2022			2Q23		3Q22
Net interest income (1)	$	1,379		$	1,357		$	1,412		2	%	(2)	%
FTE adjustment	(11)			(11)			(8)			—		(38)
Net interest income	1,368			1,346			1,404			2		(3)
Provision for credit losses	99			92			106			8		(7)
Noninterest income	509			495			498			3		2
Noninterest expense	1,090			1,050			1,053			4		4
Income before income taxes	688			699			743			(2)		(7)
Provision for income taxes	136			134			146			1		(7)
Income after income taxes	552			565			597			(2)		(8)
Income attributable to non-controlling interest	5			6			3			(17)		67
Net income attributable to Huntington	547			559			594			(2)		(8)
Dividends on preferred shares	37			40			29			(8)		28

Net income applicable to common shares	$	510		$	519		$	565		(2)	%	(10)

Net income per common share - diluted	$	0.35		$	0.35		$	0.39		—	%	(10)	%
Cash dividends declared per common share	0.155			0.155			0.155			—		—
Tangible book value per common share at end of period	7.12			7.33			6.40			(3)		11

Average common shares - basic	1,448			1,446			1,443			—		—
Average common shares - diluted	1,468			1,466			1,465			—		—
Ending common shares outstanding	1,448			1,448			1,443			—		—
Return on average assets	1.16		%	1.18		%	1.31		%
Return on average common shareholders’ equity	12.4			12.7			13.9
Return on average tangible common shareholders’ equity (2)	19.5			19.9			21.9
Net interest margin (1)	3.20			3.11			3.42
Efficiency ratio (3)	57.0			55.9			54.4
Effective tax rate	19.7			19.3			19.7
Average total assets	$	186,599		$	190,746		$	179,557		(2)		4
Average earning assets	170,948			174,909			164,024			(2)		4
Average loans and leases	120,784			121,345			116,964			—		3

Average total deposits	$	148,150		$	145,559		$	146,008		2		1
Average core deposits (4)	143,110			140,736			141,691			2		1

Average Huntington shareholders’ equity	18,741			18,844			18,317			(1)		2
Average common total shareholders' equity	16,256			16,359			16,150			(1)		1
Average tangible common shareholders' equity	10,568			10,662			10,413			(1)		1
Total assets at end of period	186,650			188,505			179,402			(1)		4
Total Huntington shareholders’ equity at end of period	18,483			18,788			17,136			(2)		8

NCOs as a % of average loans and leases	0.24		%	0.16		%	0.15		%
NAL ratio	0.49			0.42			0.51
NPA ratio (5)	0.52			0.46			0.53
Allowance for loan and lease losses (ALLL) as a % of total loans and leases at the end of period	1.83			1.80			1.79
Allowance for credit losses (ACL) as a % of total loans and leases at the end of period	1.96			1.93			1.89
Common equity tier 1 risk-based capital ratio (6)	10.10			9.82			9.27
Tangible common equity / tangible asset ratio (7)	5.70			5.80			5.32

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

Huntington Bancshares Incorporated

Year to Date Key Statistics

(Unaudited)


	Nine Months Ended September 30,						Change
(dollar amounts in millions, except per share data)	2023			2022			Amount		Percent
Net interest income (1)	$	4,154		$	3,833		$	321	8	%
FTE adjustment	(31)			(22)			(9)		(41)
Net interest income	4,123			3,811			312		8
Provision for credit losses	276			198			78		39
Noninterest income	1,516			1,482			34		2
Noninterest expense	3,226			3,124			102		3
Income before income taxes	2,137			1,971			166		8
Provision for income taxes	414			371			43		12
Income after income taxes	1,723			1,600			123		8
Income attributable to non-controlling interest	15			7			8		114
Net income attributable to Huntington	1,708			1,593			115		7
Dividends on preferred shares	106			85			21		25

Net income applicable to common shares	$	1,602		$	1,508		$	94	6	%

Net income per common share - diluted	$	1.09		$	1.03		$	0.06	6	%
Cash dividends declared per common share	0.465			0.465			—		—

Average common shares - basic	1,446			1,441			5		—
Average common shares - diluted	1,468			1,464			4		—

Return on average assets	1.22		%	1.20		%
Return on average common shareholders’ equity	13.2			12.3
Return on average tangible common shareholders’ equity (2)	20.8			19.1
Net interest margin (1)	3.24			3.15
Efficiency ratio (3)	56.2			58.0
Effective tax rate	19.4			18.8

Average total assets	$	187,419		$	177,917		$	9,502	5	%
Average earning assets	171,663			162,560			9,103		6
Average loans and leases	120,851			114,039			6,812		6
Average total deposits	146,625			144,656			1,969		1
Average core deposits (4)	141,648			140,890			758		1
Average Huntington shareholders’ equity	18,607			18,534			73		—
Average common total shareholders' equity	16,197			16,367			(170)		(1)
Average tangible common shareholders' equity	10,496			10,754			(258)		(2)

NCOs as a % of average loans and leases	0.20		%	0.08		%
NAL ratio	0.49			0.51
NPA ratio (5)	0.52			0.53

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

Notes to the Quarterly and Year to Date Key Statistics

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

(2)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.

(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, 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


	September 30,		December 31,
(dollar amounts in millions)	2023		2022		Percent Changes
	(Unaudited)
Assets
Cash and due from banks	$	1,602	$	1,796	(11)	%
Interest-bearing deposits at Federal Reserve Bank	9,833		4,908		100
Interest-bearing deposits in banks	258		214		21
Trading account securities	121		19		537
Available-for-sale securities	21,863		23,423		(7)
Held-to-maturity securities	16,148		17,052		(5)


Other securities	718		854		(16)
Loans held for sale	603		529		14
Loans and leases (1)	120,853		119,523		1
Allowance for loan and lease losses	(2,208)		(2,121)		(4)
Net loans and leases	118,645		117,402		1
Bank owned life insurance	2,757		2,753		—
Accrued income and other receivables	1,496		1,573		(5)
Premises and equipment	1,096		1,156		(5)
Goodwill	5,561		5,571		—
Servicing rights and other intangible assets	718		712		1
Other assets	5,231		4,944		6
Total assets	$	186,650	$	182,906	2	%

Liabilities and shareholders' equity
Liabilities
Deposits (2)	$	148,867	$	147,914	1	%
Short-term borrowings	681		2,027		(66)
Long-term debt	12,822		9,686		32
Other liabilities	5,750		5,510		4
Total liabilities	168,120		165,137		2

Shareholders' equity
Preferred stock	2,484		2,167		15
Common stock	15		14		7
Capital surplus	15,363		15,309		—
Less treasury shares, at cost	(91)		(80)		(14)
Accumulated other comprehensive income (loss)	(3,622)		(3,098)		(17)
Retained earnings	4,334		3,419		27
Total Huntington shareholders’ equity	18,483		17,731		4
Non-controlling interest	47		38		24
Total equity	18,530		17,769		4
Total liabilities and equity	$	186,650	$	182,906	2	%

Common shares authorized (par value of $0.01)	2,250,000,000		2,250,000,000
Common shares outstanding	1,448,075,093		1,443,068,036
Treasury shares outstanding	7,391,874		6,322,052
Preferred stock, authorized shares	6,617,808		6,617,808
Preferred shares outstanding	882,500		557,500

(1)See page 5 for detail of loans and leases.

(2)See page 6 for detail of deposits.

Huntington Bancshares Incorporated

Loans and Leases Composition

(Unaudited)


	September 30,				June 30,				March 31,				December 31,				September 30,
(dollar amounts in millions)	2023				2023				2023				2022				2022
Ending balances by type:
Total loans and leases
Commercial:
Commercial and industrial	$	49,422	41	%	$	49,834	41	%	$	50,039	42	%	$	48,121	41	%	$	46,724	40	%
Commercial real estate:
Commercial	11,365		10		11,750		10		12,132		10		12,138		10		12,137		10
Construction	1,303		1		1,416		1		1,255		1		1,502		1		1,739		2
Commercial real estate	12,668		11		13,166		11		13,387		11		13,640		11		13,876		12
Lease financing	5,161		4		5,143		4		5,244		4		5,252		4		5,093		4
Total commercial	67,251		56		68,143		56		68,670		57		67,013		56		65,693		56
Consumer:
Residential mortgage	23,427		19		23,138		19		22,472		19		22,226		19		21,816		18
Automobile	12,724		11		12,819		11		13,187		11		13,154		11		13,430		11
Home equity	10,118		8		10,135		8		10,166		8		10,375		9		10,440		9
RV and marine	5,937		5		5,640		5		5,404		4		5,376		4		5,436		5
Other consumer	1,396		1		1,350		1		1,280		1		1,379		1		1,332		1
Total consumer	53,602		44		53,082		44		52,509		43		52,510		44		52,454		44
Total loans and leases	$	120,853	100	%	$	121,225	100	%	$	121,179	100	%	$	119,523	100	%	$	118,147	100	%


	September 30,				June 30,				March 31,				December 31,				September 30,
(dollar amounts in millions)	2023				2023				2023				2022				2022
Ending balances by business segment:
Consumer & Regional Banking	$	66,202	55	%	$	65,374	54	%	$	64,387	53	%	$	64,080	54	%	$	63,603	54	%
Commercial Banking	54,451		45		55,672		46		56,599		47		55,304		46		54,320		46



Treasury / Other	200		—		179		—		193		—		139		—		224		—
Total loans and leases	$	120,853	100	%	$	121,225	100	%	$	121,179	100	%	$	119,523	100	%	$	118,147	100	%

Average balances by business segment:
Consumer & Regional Banking	$	65,738	55	%	$	64,782	54	%	$	64,209	54	%	$	63,836	54	%	$	63,468	55	%
Commercial Banking	54,873		45		56,375		46		55,919		46		54,789		46		53,067		45



Treasury / Other	173		—		188		—		292		—		282		—		429		—
Total loans and leases	$	120,784	100	%	$	121,345	100	%	$	120,420	100	%	$	118,907	100	%	$	116,964	100	%

Huntington Bancshares Incorporated

Deposits Composition

(Unaudited)


	September 30,				June 30,				March 31,				December 31,				September 30,
(dollar amounts in millions)	2023				2023				2023				2022				2022
Ending balances:
Total deposits by type:
Demand deposits - noninterest-bearing	$	31,666	21	%	$	33,340	23	%	$	36,789	25	%	$	38,242	26	%	$	40,762	28	%
Demand deposits - interest-bearing	39,822		27		40,387		27		39,827		28		43,136		29		43,673		30
Money market deposits	42,996		29		40,534		28		37,276		26		36,082		24		33,811		23
Savings and other domestic deposits	17,350		12		18,294		12		19,546		13		20,357		14		21,274		15
Core certificates of deposit (1)	12,372		8		10,314		7		6,981		5		4,324		3		2,115		1
Total core deposits	144,206		97		142,869		97		140,419		97		142,141		96		141,635		97
Other domestic deposits of $250,000 or more	446		—		381		—		282		—		220		—		186		—
Negotiable CDS, brokered and other deposits	4,215		3		4,778		3		4,577		3		5,553		4		4,492		3

Total deposits	$	148,867	100	%	$	148,028	100	%	$	145,278	100	%	$	147,914	100	%	$	146,313	100	%

Total core deposits:
Commercial	$	61,379	43	%	$	61,450	43	%	$	61,132	44	%	$	64,107	45	%	$	65,151	46	%
Consumer	82,827		57		81,419		57		79,287		56		78,034		55		76,484		54
Total core deposits	$	144,206	100	%	$	142,869	100	%	$	140,419	100	%	$	142,141	100	%	$	141,635	100	%

Total deposits by business segment:

Consumer & Regional Banking	$	108,183	73	%	$	106,502	72	%	$	105,339	72	%	$	105,064	71	%	$	104,716	72	%
Commercial Banking	36,023		24		36,459		25		34,660		24		36,807		25		36,487		25


Treasury / Other	4,661		3		5,067		3		5,279		4		6,043		4		5,110		3
Total deposits	$	148,867	100	%	$	148,028	100	%	$	145,278	100	%	$	147,914	100	%	$	146,313	100	%

Average balances:


Total core deposits:
Commercial	$	62,070	43	%	$	61,304	44	%	$	63,423	45	%	$	65,128	46	%	$	65,278	46	%
Consumer	81,040		57		79,432		56		77,654		55		75,568		54		76,414		54
Total core deposits	$	143,110	100	%	$	140,736	100	%	$	141,077	100	%	$	140,696	100	%	$	141,692	100	%

Average deposits by business segment:

Consumer & Regional Banking	$	106,300	72	%	$	104,593	71	%	$	104,151	71	%	$	103,820	71	%	$	105,174	72	%
Commercial Banking	36,673		25		35,752		25		36,288		25		36,260		25		35,880		25


Treasury / Other	5,177		3		5,214		4		5,705		4		5,592		4		4,954		3
Total deposits	$	148,150	100	%	$	145,559	100	%	$	146,144	100	%	$	145,672	100	%	$	146,008	100	%

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

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)	2023		2023		2023		2022		2022		2Q23		3Q22
Assets
Interest-bearing deposits at Federal Reserve Bank	$	9,286	$	11,052	$	6,101	$	4,615	$	3,204	(16)		190
Interest-bearing deposits in banks	261		229		249		305		260		14		—
Securities:
Trading account securities	128		34		21		29		24		276		433
Available-for-sale securities:
Taxable	19,834		20,920		21,368		20,467		21,677		(5)		(9)
Tax-exempt	2,807		2,745		2,640		2,706		2,917		2		(4)
Total available-for-sale securities	22,641		23,665		24,008		23,173		24,594		(4)		(8)


Held-to-maturity securities - taxable	16,356		16,762		16,977		17,022		17,188		(2)		(5)





Other securities	859		1,263		886		857		804		(32)		7
Total securities	39,984		41,724		41,892		41,081		42,610		(4)		(6)
Loans held for sale	633		559		450		637		986		13		(36)
Loans and leases: (2)
Commercial:
Commercial and industrial	49,448		50,194		49,028		47,505		46,029		(1)		7
Commercial real estate:
Commercial	11,624		12,062		12,282		12,179		11,974		(4)		(3)
Construction	1,331		1,280		1,400		1,676		1,697		4		(22)
Commercial real estate	12,955		13,342		13,682		13,855		13,671		(3)		(5)
Lease financing	5,050		5,155		5,209		5,080		4,981		(2)		1
Total commercial	67,453		68,691		67,919		66,440		64,681		(2)		4
Consumer:
Residential mortgage	23,278		22,765		22,327		22,011		21,552		2		8
Automobile	12,747		12,927		13,245		13,284		13,514		(1)		(6)
Home equity	10,108		10,154		10,258		10,417		10,431		—		(3)
RV and marine	5,813		5,478		5,366		5,408		5,454		6		7
Other consumer	1,385		1,330		1,305		1,347		1,332		4		4
Total consumer	53,331		52,654		52,501		52,467		52,283		1		2
Total loans and leases	120,784		121,345		120,420		118,907		116,964		—		3
Total earning assets	170,948		174,909		169,112		165,545		164,024		(2)		4
Cash and due from banks	1,559		1,639		1,598		1,650		1,697		(5)		(8)
Goodwill and other intangible assets	5,722		5,734		5,759		5,771		5,781		—		(1)
All other assets	10,576		10,638		10,568		10,458		10,154		(1)		4
Allowance for loan and lease losses	(2,206)		(2,174)		(2,143)		(2,132)		(2,099)		(1)		(5)
Total assets	$	186,599	$	190,746	$	184,894	$	181,292	$	179,557	(2)	%	4	%
Liabilities and shareholders' equity
Interest-bearing deposits:
Demand deposits - interest-bearing	$	39,757	$	39,772	$	40,654	$	42,705	$	42,038	—	%	(5)	%
Money market deposits	41,445		38,753		37,301		34,390		34,058		7		22
Savings and other domestic deposits	17,774		18,826		19,877		20,831		21,439		(6)		(17)
Core certificates of deposit (3)	11,348		8,820		5,747		2,926		2,040		29		456

Other domestic deposits of $250,000 or more	406		320		252		198		193		27		110
Negotiable CDS, brokered and other deposits	4,634		4,502		4,815		4,777		4,124		3		12

Total interest-bearing deposits	115,364		110,993		108,646		105,827		103,892		4		11
Short-term borrowings	859		5,242		4,371		545		2,609		(84)		(67)
Long-term debt	13,772		16,252		11,047		12,650		8,251		(15)		67
Total interest-bearing liabilities	129,995		132,487		124,064		119,022		114,752		(2)		13
Demand deposits - noninterest-bearing	32,786		34,566		37,498		39,845		42,116		(5)		(22)
All other liabilities	5,028		4,796		5,056		4,929		4,340		5		16
Total liabilities	167,809		171,849		166,618		163,796		161,208		(2)		4
Total Huntington shareholders’ equity	18,741		18,844		18,231		17,458		18,317		(1)		2
Non-controlling interest	49		53		45		38		32		(8)		53
Total equity	18,790		18,897		18,276		17,496		18,349		(1)		2
Total liabilities and equity	$	186,599	$	190,746	$	184,894	$	181,292	$	179,557	(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
	September 30,		June 30,		March 31,		December 31,		September 30,
(dollar amounts in millions)	2023		2023		2023		2022		2022
Assets
Interest-bearing deposits at Federal Reserve Bank	$	127	$	141	$	71	$	46	$	19
Interest-bearing deposits in banks	4		5		5		5		2
Securities:
Trading account securities	1		1		—		—		—
Available-for-sale securities:
Taxable	259		252		232		198		165
Tax-exempt	37		33		29		28		25
Total available-for-sale securities	296		285		261		226		190
Held-to-maturity securities - taxable	99		102		102		100		95



Other securities	19		11		10		9		7
Total securities	415		399		373		335		292
Loans held for sale	10		8		7		8		13
Loans and leases:
Commercial:
Commercial and industrial	776		746		686		613		515
Commercial real estate:
Commercial	225		217		207		185		144
Construction	28		26		26		28		21
Commercial real estate	253		243		233		213		165
Lease financing	73		71		68		66		63
Total commercial	1,102		1,060		987		892		743
Consumer:
Residential mortgage	213		200		190		183		174
Automobile	145		134		129		125		120
Home equity	195		187		181		172		143
RV and marine	73		63		58		61		59
Other consumer	40		39		36		36		32
Total consumer	666		623		594		577		528
Total loans and leases	1,768		1,683		1,581		1,469		1,271
Total earning assets	$	2,324	$	2,236	$	2,037	$	1,863	$	1,597

Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	$	199	$	167	$	132	$	102	$	42
Money market deposits	327		255		172		75		25
Savings and other domestic deposits	6		6		3		2		1
Core certificates of deposit (3)	119		83		43		10		1

Other domestic deposits of $250,000 or more	4		2		2		1		—
Negotiable CDS, brokered and other deposits	58		57		54		45		23

Total interest-bearing deposits	713		570		406		235		92
Short-term borrowings	17		74		60		10		22
Long-term debt	215		235		153		147		71
Total interest-bearing liabilities	945		879		619		392		185
Net interest income	$	1,379	$	1,357	$	1,418	$	1,471	$	1,412

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

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

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

Huntington Bancshares Incorporated

Consolidated Quarterly Net Interest Margin - Yield

(Unaudited)


	Quarterly Average Rates
	September 30,		June 30,		March 31,		December 31,		September 30,
Fully-taxable equivalent basis (1)	2023		2023		2023		2022		2022
Assets
Interest-bearing deposits at Federal Reserve Bank	5.45	%	5.12	%	4.65	%	3.99	%	2.39	%
Interest-bearing deposits in banks	6.59		7.79		8.50		5.72		3.31
Securities:
Trading account securities	4.98		4.92		5.37		5.45		4.12
Available-for-sale securities:
Taxable	5.22		4.82		4.34		3.87		3.06
Tax-exempt	5.08		4.87		4.40		4.21		3.39
Total available-for-sale securities	5.20		4.83		4.35		3.91		3.09
Held-to-maturity securities - taxable	2.43		2.42		2.41		2.34		2.21



Other securities	9.22		3.47		4.35		4.15		3.21
Total securities	4.15		3.82		3.56		3.26		2.74
Loans held for sale	6.42		6.05		5.85		5.42		4.98
Loans and leases: (2)
Commercial:
Commercial and industrial	6.15		5.87		5.60		5.06		4.37
Commercial real estate:
Commercial	7.55		7.14		6.73		5.93		4.72
Construction	8.30		7.96		7.40		6.54		4.95
Commercial real estate	7.63		7.22		6.80		6.01		4.75
Lease financing	5.60		5.45		5.25		5.02		4.95
Total commercial	6.39		6.10		5.82		5.25		4.50
Consumer:
Residential mortgage	3.66		3.51		3.41		3.33		3.23
Automobile	4.51		4.17		3.94		3.74		3.53
Home equity	7.66		7.42		7.14		6.57		5.43
RV and marine	4.96		4.59		4.42		4.45		4.29
Other consumer	11.67		11.59		11.18		10.38		9.55
Total consumer	4.97		4.74		4.57		4.37		4.02
Total loans and leases	5.76		5.51		5.27		4.86		4.28
Total earning assets	5.39		5.13		4.89		4.46		3.86
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	1.98		1.68		1.32		0.94		0.40
Money market deposits	3.12		2.64		1.87		0.86		0.29
Savings and other domestic deposits	0.15		0.11		0.07		0.03		0.02
Core certificates of deposit (3)	4.17		3.78		3.01		1.42		0.10

Other domestic deposits of $250,000 or more	3.78		3.27		2.45		1.31		0.35
Negotiable CDS, brokered and other deposits	4.93		5.07		4.56		3.74		2.25

Total interest-bearing deposits	2.45		2.06		1.52		0.88		0.35
Short-term borrowings	7.60		5.70		5.56		7.71		3.31
Long-term debt	6.27		5.79		5.52		4.66		3.40
Total interest-bearing liabilities	2.88		2.66		2.02		1.31		0.64

Net interest rate spread	2.51		2.47		2.87		3.15		3.22
Impact of noninterest-bearing funds on margin	0.69		0.64		0.53		0.37		0.20
Net interest margin	3.20	%	3.11	%	3.40	%	3.52	%	3.42	%


Commercial Loan Derivative Impact
(Unaudited)	Quarterly Average Rates
	September 30,		June 30,		March 31,		December 31,		September 30,
Fully-taxable equivalent basis (1)	2023		2023		2023		2022		2022
Commercial loans (2)(4)	7.09	%	6.82	%	6.42	%	5.68	%	4.62	%
Impact of commercial loan derivatives	(0.70)		(0.72)		(0.60)		(0.43)		(0.12)
Total commercial - as reported	6.39	%	6.10	%	5.82	%	5.25	%	4.50	%
Average 1 Month LIBOR			5.09	%	4.62	%	3.89	%	2.46	%
Average SOFR	5.23	%	4.97	%	4.50	%	3.61	%	2.14	%

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

(2)Includes nonaccrual loans and leases.

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

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

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,
	2023		2023		2023		2022		2022
Interest income	$	2,313	$	2,225	$	2,028	$	1,854	$	1,589
Interest expense	945		879		619		392		185
Net interest income	1,368		1,346		1,409		1,462		1,404
Provision for credit losses	99		92		85		91		106
Net interest income after provision for credit losses	1,269		1,254		1,324		1,371		1,298
Service charges on deposit accounts	97		87		83		89		93
Card and payment processing income	103		102		93		96		96
Capital markets fees	49		57		59		83		73
Trust and investment management services	62		68		62		61		60
Mortgage banking income	27		33		26		25		26
Leasing revenue	32		25		26		35		29
Insurance income	31		30		34		31		28
Gain on sale of loans	2		8		3		2		15
Bank owned life insurance income	18		16		16		15		13
Net (losses) gains on sales of securities	—		(5)		1		—		—
Other noninterest income	88		74		109		62		65
Total noninterest income	509		495		512		499		498
Personnel costs	622		613		649		630		614
Outside data processing and other services	149		148		151		147		145
Equipment	65		64		64		67		60
Net occupancy	67		54		60		61		63
Marketing	29		32		25		22		24
Professional services	27		21		16		21		18
Deposit and other insurance expense	25		23		20		14		15
Amortization of intangibles	12		13		13		13		13
Lease financing equipment depreciation	6		8		8		9		11
Other noninterest expense	88		74		80		93		90
Total noninterest expense	1,090		1,050		1,086		1,077		1,053
Income before income taxes	688		699		750		793		743
Provision for income taxes	136		134		144		144		146
Income after income taxes	552		565		606		649		597
Income attributable to non-controlling interest	5		6		4		4		3
Net income attributable to Huntington	547		559		602		645		594
Dividends on preferred shares	37		40		29		28		29

Net income applicable to common shares	$	510	$	519	$	573	$	617	$	565

Average common shares - basic	1,448		1,446		1,443		1,443		1,443
Average common shares - diluted	1,468		1,466		1,469		1,468		1,465

Per common share
Net income - basic	$	0.35	$	0.36	$	0.40	$	0.43	$	0.39
Net income - diluted	0.35		0.35		0.39		0.42		0.39
Cash dividends declared	0.155		0.155		0.155		0.155		0.155

Revenue - fully-taxable equivalent (FTE)
Net interest income	$	1,368	$	1,346	$	1,409	$	1,462	$	1,404
FTE adjustment	11		11		9		9		8
Net interest income (1)	1,379		1,357		1,418		1,471		1,412
Noninterest income	509		495		512		499		498
Total revenue (1)	$	1,888	$	1,852	$	1,930	$	1,970	$	1,910

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

Huntington Bancshares Incorporated

Quarterly Mortgage Banking Noninterest Income

(Unaudited)


	Three Months Ended
	September 30,			June 30,			March 31,			December 31,			September 30,			Percent Changes vs.
(dollar amounts in millions)	2023			2023			2023			2022			2022			2Q23		3Q22
Net origination and secondary marketing income	$	18		$	23		$	16		$	16		$	25		(22)	%	(28)	%
Net mortgage servicing income
Loan servicing income	24			23			23			22			22			4		9
Amortization of capitalized servicing	(13)			(12)			(10)			(11)			(14)			(8)		7
Operating income	11			11			13			11			8			—		38
MSR valuation adjustment (1)	38			15			(12)			2			17			153		124
(Losses) gains due to MSR hedging	(38)			(15)			9			(4)			(24)			(153)		(58)
Net MSR risk management	—			—			(3)			(2)			(7)			—		100
Total net mortgage servicing income	$	11		$	11		$	10		$	9		$	1		—	%	1,000	%
All other	(2)			(1)			—			—			—			(100)		(100)
Mortgage banking income	$	27		$	33		$	26		$	25		$	26		(18)	%	4	%

Mortgage origination volume	$	2,020		$	2,504		$	1,412		$	1,719		$	2,491		(19)	%	(19)	%
Mortgage origination volume for sale	1,195			1,239			809			889			1,339			(4)		(11)

Third party mortgage loans serviced (2)	32,965			32,712			32,496			32,354			31,988			1		3
Mortgage servicing rights (2)	547			505			485			494			486			8		13
MSR % of investor servicing portfolio (2)	1.66		%	1.55		%	1.49		%	1.53		%	1.52		%	7	%	9	%

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

(2)At period end.

Huntington Bancshares Incorporated

Quarterly Credit Reserves Analysis

(Unaudited)


	Three Months Ended
	September 30,			June 30,			March 31,			December 31,			September 30,
(dollar amounts in millions)	2023			2023			2023			2022			2022
Allowance for loan and lease losses, beginning of period	$	2,177		$	2,142		$	2,121		$	2,110		$	2,074

Loan and lease charge-offs	(131)			(92)			(99)			(97)			(83)
Recoveries of loans and leases previously charged-off	58			43			42			47			39
Net loan and lease charge-offs	(73)			(49)			(57)			(50)			(44)
Provision for loan and lease losses	104			84			78			61			80


Allowance for loan and lease losses, end of period	2,208			2,177			2,142			2,121			2,110
Allowance for unfunded lending commitments, beginning of period	165			157			150			120			94

Provision for unfunded lending commitments	(5)			8			7			30			26


Allowance for unfunded lending commitments, end of period	160			165			157			150			120
Total allowance for credit losses, end of period	$	2,368		$	2,342		$	2,299		$	2,271		$	2,230
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases	1.83		%	1.80		%	1.77		%	1.77		%	1.79		%
Nonaccrual loans and leases (NALs)	373			427			402			373			351
Nonperforming assets (NPAs)	348			391			371			357			336
Total allowance for credit losses (ACL) as % of:
Total loans and leases	1.96		%	1.93		%	1.90		%	1.90		%	1.89		%
Nonaccrual loans and leases (NALs)	400			459			431			400			371
Nonperforming assets (NPAs)	373			420			398			382			355


	Three Months Ended
	September 30,		June 30,		March 31,		December 31,		September 30,
(dollar amounts in millions)	2023		2023		2023		2022		2022
Allocation of allowance for credit losses
Commercial
Commercial and industrial	$	973	$	994	$	967	$	939	$	914
Commercial real estate	483		442		440		433		450
Lease financing	48		47		50		52		50
Total commercial	1,504		1,483		1,457		1,424		1,414
Consumer
Residential mortgage	200		194		176		187		178
Automobile	143		144		151		141		118
Home equity	115		119		118		105		126
RV and marine	151		145		144		143		127
Other consumer	95		92		96		121		147
Total consumer	704		694		685		697		696
Total allowance for loan and lease losses	2,208		2,177		2,142		2,121		2,110
Allowance for unfunded lending commitments	160		165		157		150		120
Total allowance for credit losses	$	2,368	$	2,342	$	2,299	$	2,271	$	2,230

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)	2023			2023			2023			2022			2022
Net charge-offs (recoveries) by loan and lease type:
Commercial:
Commercial and industrial	$	32		$	20		$	16		$	9		$	16



Commercial real estate	11			7			18			7			(3)
Lease financing	2			—			(5)			5			2
Total commercial	45			27			29			21			15
Consumer:
Residential mortgage	1			1			—			—			(1)
Automobile	4			3			5			3			3
Home equity	—			—			(1)			—			(2)
RV and marine	3			2			2			2			2
Other consumer	20			16			22			24			27
Total consumer	28			22			28			29			29
Total net charge-offs	$	73		$	49		$	57		$	50		$	44


	Three Months Ended
	September 30,			June 30,			March 31,			December 31,			September 30,
	2023			2023			2023			2022			2022
Net charge-offs (recoveries) - annualized percentages:
Commercial:
Commercial and industrial	0.26		%	0.15		%	0.13		%	0.08		%	0.14		%



Commercial real estate	0.35			0.23			0.51			0.20			(0.07)
Lease financing	0.12			—			(0.37)			0.40			0.17
Total commercial	0.27			0.16			0.17			0.13			0.10
Consumer:
Residential mortgage	0.01			0.01			0.01			(0.01)			(0.02)
Automobile	0.14			0.10			0.14			0.12			0.07
Home equity	(0.01)			(0.02)			(0.02)			(0.04)			(0.07)
RV and marine	0.16			0.13			0.18			0.15			0.17
Other consumer	6.09			5.17			6.37			7.08			8.09
Total consumer	0.21			0.17			0.21			0.22			0.22
Net charge-offs as a % of average loans and leases	0.24		%	0.16		%	0.19		%	0.17		%	0.15		%

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)	2023			2023			2023			2022			2022
Nonaccrual loans and leases (NALs):
Commercial and industrial	$	314		$	267		$	273		$	288		$	288
Commercial real estate	102			75			86			92			110
Lease financing	14			15			14			18			30
Residential mortgage	75			73			81			90			94
Automobile	4			4			4			4			4
Home equity	82			75			74			76			75
RV and marine	1			1			1			1			1

Total nonaccrual loans and leases	592			510			533			569			602



Other real estate, net	14			18			20			11			11
Other NPAs (1)	28			29			25			14			14
Total nonperforming assets	$	634		$	557		$	578		$	594		$	627

Nonaccrual loans and leases as a % of total loans and leases	0.49		%	0.42		%	0.44		%	0.48		%	0.51		%
NPA ratio (2)	0.52			0.46			0.48			0.50			0.53
(NPA+90days)/(Loan+OREO) (3)	0.66			0.60			0.63			0.67			0.72


	Three Months Ended
	September 30,		June 30,		March 31,		December 31,		September 30,
(dollar amounts in millions)	2023		2023		2023		2022		2022
Nonperforming assets, beginning of period	$	557	$	578	$	594	$	627	$	682
New nonperforming assets	252		188		237		251		119


Returns to accruing status	(23)		(34)		(73)		(84)		(42)
Charge-offs	(62)		(42)		(54)		(54)		(39)
Payments	(85)		(118)		(124)		(144)		(89)
Sales	(5)		(15)		(2)		(2)		(4)

Nonperforming assets, end of period	$	634	$	557	$	578	$	594	$	627

(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)


	September 30,			June 30,			March 31,			December 31,			September 30,
(dollar amounts in millions)	2023			2023			2023			2022			2022
Accruing loans and leases past due 90+ days:
Commercial and industrial	$	—		$	7		$	12		$	23		$	29

Lease financing	7			12			10			9			18
Residential mortgage (excluding loans guaranteed by the U.S. Government)	22			18			20			21			17
Automobile	8			6			7			9			6
Home equity	19			18			18			15			12
RV and marine	2			2			2			3			2
Other consumer	3			3			2			2			3
Total, excl. loans guaranteed by the U.S. Government	61			66			71			82			87
Add: loans guaranteed by U.S. Government	102			103			114			125			136
Total accruing loans and leases past due 90+ days, including loans guaranteed by the U.S. Government	$	163		$	169		$	185		$	207		$	223

Ratios:
Excluding loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.05		%	0.05		%	0.06		%	0.07		%	0.07		%
Guaranteed by U.S. Government, as a percent of total loans and leases	0.08			0.08			0.09			0.10			0.12
Including loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.14			0.14			0.15			0.17			0.19

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)	2023			2023			2023			2022			2022
Common equity tier 1 risk-based capital ratio: (1)
Total Huntington shareholders’ equity	$	18,483		$	18,788		$	18,758		$	17,731		$	17,136
Regulatory capital adjustments:
CECL transitional amount (2)	219			219			219			328			328
Shareholders’ preferred equity and related surplus	(2,494)			(2,494)			(2,494)			(2,177)			(2,177)
Accumulated other comprehensive loss	3,622			3,006			2,755			3,098			3,276
Goodwill and other intangibles, net of taxes	(5,605)			(5,620)			(5,636)			(5,663)			(5,675)
Deferred tax assets from tax loss and credit carryforwards	(14)			(14)			(14)			(27)			(29)
Common equity tier 1 capital	14,211			13,885			13,588			13,290			12,859
Additional tier 1 capital
Shareholders’ preferred equity and related surplus	2,494			2,494			2,494			2,177			2,177


Tier 1 capital	16,705			16,379			16,082			15,467			15,036
Long-term debt and other tier 2 qualifying instruments	1,383			1,394			1,395			1,424			1,441
Qualifying allowance for loan and lease losses	1,758			1,767			1,779			1,682			1,637
Tier 2 capital	3,141			3,161			3,174			3,106			3,078
Total risk-based capital	$	19,846		$	19,540		$	19,256		$	18,573		$	18,114
Risk-weighted assets (RWA)(1)	$	140,664		$	141,432		$	142,335		$	141,940		$	138,759
Common equity tier 1 risk-based capital ratio (1)	10.10		%	9.82		%	9.55		%	9.36		%	9.27		%
Other regulatory capital data:
Tier 1 leverage ratio (1)	9.43			9.01			8.79			8.60			8.51
Tier 1 risk-based capital ratio (1)	11.88			11.58			11.30			10.90			10.84
Total risk-based capital ratio (1)	14.11			13.82			13.53			13.09			13.05
Non-regulatory capital data:
Tangible common equity / RWA ratio (1)	7.33			7.50			7.43			6.93			6.66

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


	September 30,		June 30,		March 31,		December 31,		September 30,
	2023		2023		2023		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	1,448		1,446		1,443		1,443		1,443
Average - diluted	1,468		1,466		1,469		1,468		1,465
Ending	1,448		1,448		1,444		1,443		1,443
Tangible book value per common share (1)	$	7.12	$	7.33	$	7.32	$	6.82	$	6.40

Non-regulatory capital


	September 30,			June 30,			March 31,			December 31,			September 30,
(dollar amounts in millions)	2023			2023			2023			2022			2022
Calculation of tangible equity / asset ratio:
Total Huntington shareholders’ equity	$	18,483		$	18,788		$	18,758		$	17,731		$	17,136
Goodwill and other intangible assets	(5,716)			(5,728)			(5,741)			(5,766)			(5,775)

Deferred tax liability on other intangible assets (1)	33			35			38			41			43
Total tangible equity	12,800			13,095			13,055			12,006			11,404
Preferred equity	(2,484)			(2,484)			(2,484)			(2,167)			(2,167)
Total tangible common equity	$	10,316		$	10,611		$	10,571		$	9,839		$	9,237
Total assets	$	186,650		$	188,505		$	189,070		$	182,906		$	179,402
Goodwill and other intangible assets	(5,716)			(5,728)			(5,741)			(5,766)			(5,775)
Deferred tax liability on other intangible assets (1)	33			35			38			41			43
Total tangible assets	$	180,967		$	182,812		$	183,367		$	177,181		$	173,670
Tangible equity / tangible asset ratio	7.07		%	7.16		%	7.12		%	6.78		%	6.57		%
Tangible common equity / tangible asset ratio	5.70			5.80			5.77			5.55			5.32
Other data:
Number of employees (Average full-time equivalent)	19,826			20,200			20,198			20,007			19,997
Number of domestic full-service branches (2)	1,001			1,001			1,001			1,032			1,032
ATM Count	1,631			1,641			1,668			1,695			1,715

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

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

Huntington Bancshares Incorporated

Consolidated Year To Date Average Balance Sheets

(Unaudited)


	YTD Average Balances (1)
	Nine Months Ended September 30,				Change
(dollar amounts in millions)	2023		2022		Amount		Percent
Assets
Interest-bearing deposits at Federal Reserve Bank	$	8,825	$	4,629	$	4,196	91	%
Interest-bearing deposits in banks	246		200		46		23
Securities:
Trading account securities	61		33		28		85
Available-for-sale securities:
Taxable	20,702		22,509		(1,807)		(8)
Tax-exempt	2,731		2,887		(156)		(5)
Total available-for-sale securities	23,433		25,396		(1,963)		(8)


Held-to-maturity securities - taxable	16,696		16,336		360		2





Other securities	1,003		841		162		19
Total securities	41,193		42,606		(1,413)		(3)
Loans held for sale	548		1,086		(538)		(50)
Loans and leases: (2)
Commercial:
Commercial and industrial	49,559		44,641		4,918		11
Commercial real estate:
Commercial	11,987		11,635		352		3
Construction	1,336		1,777		(441)		(25)
Commercial real estate	13,323		13,412		(89)		(1)
Lease financing	5,137		4,938		199		4
Total commercial	68,019		62,991		5,028		8
Consumer:
Residential mortgage	22,793		20,536		2,257		11
Automobile	12,971		13,512		(541)		(4)
Home equity	10,173		10,406		(233)		(2)
RV and marine	5,554		5,293		261		5
Other consumer	1,341		1,301		40		3
Total consumer	52,832		51,048		1,784		3
Total loans and leases	120,851		114,039		6,812		6
Total earning assets	171,663		162,560		9,103		6
Cash and due from banks	1,598		1,672		(74)		(4)
Goodwill and other intangible assets	5,738		5,660		78		1
All other assets	10,594		10,092		502		5
Allowance for loan and lease losses	(2,174)		(2,067)		(107)		(5)
Total assets	$	187,419	$	177,917	$	9,502	5	%
Liabilities and shareholders' equity
Interest-bearing deposits:
Demand deposits - interest-bearing	$	40,058	$	41,467	$	(1,409)	(3)	%
Money market deposits	39,181		33,512		5,669		17
Savings and other domestic deposits	18,818		21,480		(2,662)		(12)
Core certificates of deposit (3)	8,659		2,274		6,385		NM

Other domestic deposits of $250,000 or more	326		244		82		34
Negotiable CDS, brokered and other deposits	4,650		3,522		1,128		32

Total interest-bearing deposits	111,692		102,499		9,193		9
Short-term borrowings	3,478		3,139		339		11
Long-term debt	13,700		7,401		6,299		85
Total interest-bearing liabilities	128,870		113,039		15,831		14
Demand deposits - noninterest-bearing	34,933		42,157		(7,224)		(17)
All other liabilities	4,960		4,158		802		19
Total Liabilities	168,763		159,354		9,409		6
Total Huntington shareholders’ equity	18,607		18,534		73		—
Non-controlling interest	49		29		20		69
Total equity	$	18,656	$	18,563	$	93	1
Total liabilities and equity	$	187,419	$	177,917	$	18,911	5	%

NM - Not Meaningful

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

(2)Includes nonaccrual loans and leases.

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

Huntington Bancshares Incorporated

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

(Unaudited)


	YTD Interest Income / Expense
	Nine Months Ended September 30,
(dollar amounts in millions)	2023		2022
Assets
Interest-bearing deposits at Federal Reserve Bank	$	339	$	29
Interest-bearing deposits in banks	14		3
Securities:
Trading account securities	2		1
Available-for-sale securities:
Taxable	743		378
Tax-exempt	99		66
Total available-for-sale securities	842		444
Held-to-maturity securities - taxable	303		251



Other securities	40		18
Total securities	1,187		714
Loans held for sale	25		33
Loans and leases:
Commercial:
Commercial and industrial	2,208		1,343
Commercial real estate:
Commercial	649		335
Construction	80		54
Commercial real estate	729		389
Lease financing	212		185
Total commercial	3,149		1,917
Consumer:
Residential mortgage	603		478
Automobile	408		347
Home equity	563		360
RV and marine	194		166
Other consumer	115		90
Total consumer	1,883		1,441
Total loans and leases	5,032		3,358
Total earning assets	$	6,597	$	4,137
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	$	498	$	56
Money market deposits	754		37
Savings and other domestic deposits	15		3
Core certificates of deposit (3)	245		2

Other domestic deposits of $250,000 or more	8		—
Negotiable CDS, brokered and other deposits	169		30

Total interest-bearing deposits	1,689		128
Short-term borrowings	151		36
Long-term debt	603		140
Total interest-bearing liabilities	2,443		304

Net interest income	$	4,154	$	3,833

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

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

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

Huntington Bancshares Incorporated

Consolidated Year To Date Net Interest Margin - Yield

(Unaudited)


	YTD Average Rates
	Nine Months Ended September 30,
Fully-taxable equivalent basis (1)	2023		2022
Assets
Interest-bearing deposits at Federal Reserve Bank	5.12	%	0.84	%
Interest-bearing deposits in banks	7.60		1.85
Securities:
Trading account securities	4.98		3.75
Available-for-sale securities:
Taxable	4.79		2.24
Tax-exempt	4.79		3.04
Total available-for-sale securities	4.79		2.33
Held-to-maturity securities - taxable	2.42		2.05



Other securities	5.37		2.83
Total securities	3.84		2.23
Loans held for sale	6.13		4.00
Loans and leases: (2)
Commercial:
Commercial and industrial	5.88		3.97
Commercial real estate:
Commercial	7.14		3.80
Construction	7.88		4.04
Commercial real estate	7.21		3.83
Lease financing	5.44		4.95
Total commercial	6.10		4.01
Consumer:
Residential mortgage	3.53		3.10
Automobile	4.20		3.44
Home equity	7.40		4.62
RV and marine	4.67		4.19
Other consumer	11.49		9.21
Total consumer	4.76		3.77
Total loans and leases	5.52		3.91
Total earning assets	5.14	%	3.40	%
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	1.66	%	0.18	%
Money market deposits	2.57		0.15
Savings and other domestic deposits	0.11		0.02
Core certificates of deposit (3)	3.79		0.10

Other domestic deposits of $250,000 or more	3.27		0.24
Negotiable CDS, brokered and other deposits	4.85		1.14

Total interest-bearing deposits	2.02		0.17
Short-term borrowings	5.80		1.52
Long-term debt	5.87		2.51
Total interest-bearing liabilities	2.53		0.36

Net interest rate spread	2.61		3.04
Impact of noninterest-bearing funds on margin	0.63		0.11
Net interest margin	3.24	%	3.15	%


Commercial Loan Derivative Impact
(Unaudited)
	YTD Average Rates
	Nine Months Ended September 30,
Fully-taxable equivalent basis (1)	2023		2022
Commercial loans (2)(4)	6.77	%	3.93	%
Impact of commercial loan derivatives	(0.67)		0.08
Total commercial - as reported	6.10	%	4.01	%
Average 1 Month LIBOR			1.24	%
Average SOFR	4.90	%	0.99	%

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

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

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

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

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)	2023		2022		Amount		Percent
Interest income	$	6,566	$	4,115	$	2,451	60	%
Interest expense	2,443		304		2,139		NM
Net interest income	4,123		3,811		312		8
Provision for credit losses	276		198		78		39
Net interest income after provision for credit losses	3,847		3,613		234		6
Service charges on deposit accounts	267		295		(28)		(9)
Card and payment processing income	298		278		20		7
Capital markets fees	165		169		(4)		(2)
Trust and investment management services	192		188		4		2
Mortgage banking income	86		119		(33)		(28)
Leasing revenue	83		91		(8)		(9)
Insurance income	95		86		9		10
Gain on sale of loans	13		55		(42)		(76)
Bank owned life insurance income	50		41		9		22
Net (losses) gains on sales of securities	(4)		—		(4)		(100)
Other noninterest income	271		160		111		69
Total noninterest income	1,516		1,482		34		2
Personnel costs	1,884		1,771		113		6
Outside data processing and other services	448		463		(15)		(3)
Equipment	193		202		(9)		(4)
Net occupancy	181		185		(4)		(2)
Marketing	86		69		17		25
Professional services	64		56		8		14
Deposit and other insurance expense	68		53		15		28
Amortization of intangibles	38		40		(2)		(5)
Lease financing equipment depreciation	22		36		(14)		(39)
Other noninterest expense	242		249		(7)		(3)
Total noninterest expense	3,226		3,124		102		3
Income before income taxes	2,137		1,971		166		8
Provision for income taxes	414		371		43		12
Income after income taxes	1,723		1,600		123		8
Income attributable to non-controlling interest	15		7		8		114
Net income attributable to Huntington	1,708		1,593		115		7
Dividends on preferred shares	106		85		21		25

Net income applicable to common shares	$	1,602	$	1,508	$	94	6	%
Average common shares - basic	1,446		1,441		5		—
Average common shares - diluted	1,468		1,464		4		—
Per common share
Net income - basic	$	1.11	$	1.05	$	0.06	6	%
Net income - diluted	1.09		1.03		0.06		6
Cash dividends declared	0.465		0.465		—		—
Revenue - fully taxable equivalent (FTE)
Net interest income	$	4,123	$	3,811	$	312	8	%
FTE adjustment	31		22		9		41
Net interest income (1)	4,154		3,833		321		8
Noninterest income	1,516		1,482		34		2
Total revenue (1)	$	5,670	$	5,315	$	355	7	%

NM - Not Meaningful

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

Huntington Bancshares Incorporated

Year To Date Mortgage Banking Noninterest Income

(Unaudited)


	Nine Months Ended September 30,						Change
(dollar amounts in millions)	2023			2022			Amount			Percent
Net origination and secondary marketing income	$	57		$	89		$	(32)		(36)	%
Net mortgage servicing income
Loan servicing income	70			66			4			6
Amortization of capitalized servicing	(35)			(45)			10			22
Operating income	35			21			14			67
MSR valuation adjustment (1)	41			112			(71)			(63)
(Losses) gains due to MSR hedging	(44)			(105)			61			58
Net MSR risk management	(3)			7			(10)			—
Total net mortgage servicing income	32			28			4			14
All other	(3)			2			(5)			NM
Mortgage banking income	$	86		$	119		$	(33)		(28)	%

Mortgage origination volume	$	5,936		$	8,738		$	(2,802)		(32)	%
Mortgage origination volume for sale	3,243			4,121			(878)			(21)

Third party mortgage loans serviced (2)	32,965			31,988			977			3
Mortgage servicing rights (2)	547			486			61			13
MSR % of investor servicing portfolio (2)	1.66		%	1.52		%	0.14		%	9	%

NM - Not Meaningful

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

(2)At period end.

Huntington Bancshares Incorporated

Year To Date Credit Reserves Analysis

(Unaudited)


	Nine Months Ended September 30,
(dollar amounts in millions)	2023			2022
Allowance for loan and lease losses, beginning of period	$	2,121		$	2,030

Loan and lease charge-offs	(322)			(216)
Recoveries of loans and leases previously charged off	143			145
Net loan and lease charge-offs	(179)			(71)
Provision for loan and lease losses	266			151


Allowance for loan and lease losses, end of period	2,208			2,110
Allowance for unfunded lending commitments, beginning of period	$	150		$	77

Provision for unfunded lending commitments	10			43


Allowance for unfunded lending commitments, end of period	160			120
Total allowance for credit losses, end of period	$	2,368		$	2,230
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases	1.83		%	1.79		%
Nonaccrual loans and leases (NALs)	373			351
Nonperforming assets (NPAs)	348			336
Total allowance for credit losses (ACL) as % of:
Total loans and leases	1.96		%	1.89		%
Nonaccrual loans and leases (NALs)	400			371
Nonperforming assets (NPAs)	373			355

Huntington Bancshares Incorporated

Year To Date Net Charge-Off Analysis

(Unaudited)


	Nine Months Ended September 30,
(dollar amounts in millions)	2023			2022
Net charge-offs (recoveries) by loan and lease type:
Commercial:
Commercial and industrial	$	68		$	(11)



Commercial real estate	36			1
Lease financing	(3)			4
Total commercial	101			(6)
Consumer:
Residential mortgage	2			(2)
Automobile	12			3
Home equity	(1)			(5)
RV and marine	7			6
Other consumer	58			75
Total consumer	78			77
Total net charge-offs	$	179		$	71


	Nine Months Ended September 30,
	2023			2022
Net charge-offs (recoveries) - annualized percentages:
Commercial:
Commercial and industrial	0.18		%	(0.03)		%



Commercial real estate	0.37			0.01
Lease financing	(0.08)			0.11
Total commercial	0.20			(0.01)
Consumer:
Residential mortgage	0.01			(0.01)
Automobile	0.13			0.03
Home equity	(0.02)			(0.06)
RV and marine	0.16			0.16
Other consumer	5.88			7.72
Total consumer	0.20			0.20
Net charge-offs as a % of average loans	0.20		%	0.08		%

Huntington Bancshares Incorporated

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

(Unaudited)


	September 30,
(dollar amounts in millions)	2023			2022
Nonaccrual loans and leases (NALs):
Commercial and industrial	$	314		$	288
Commercial real estate	102			110
Lease financing	14			30
Residential mortgage	75			94
Automobile	4			4
Home equity	82			75
RV and marine	1			1

Total nonaccrual loans and leases	592			602



Other real estate, net	14			11
Other NPAs (1)	28			14
Total nonperforming assets (2)	$	634		$	627

Nonaccrual loans and leases as a % of total loans and leases	0.49		%	0.51		%
NPA ratio (3)	0.52			0.53


	Nine Months Ended September 30,
(dollar amounts in millions)	2023		2022
Nonperforming assets, beginning of period	$	594	$	750
New nonperforming assets	677		504


Returns to accruing status	(130)		(180)
Charge-offs	(158)		(97)
Payments	(327)		(341)
Sales	(22)		(9)
Nonperforming assets, end of period (3)	$	634	$	627

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

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

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

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
	September 30,		June 30,		September 30,		Percent Changes vs.
(dollar amounts in millions)	2023		2023		2022		2Q23		3Q22
Pre-Provision Net Revenue (PPNR)
Total revenue (GAAP)	$	1,877	$	1,841	$	1,902
FTE adjustment	11		11		8
Total revenue (FTE) (a)	1,888		1,852		1,910
Less: net (loss)/gain on securities	—		(5)		—

Total revenue (FTE), excluding net gain/(loss) on securities and notable items (b)	1,888		1,857		1,910

Noninterest expense (GAAP) (c)	1,090		1,050		1,053


Less: Notable items	15		—		10
Noninterest expense, excluding notable items (d)	1,075		1,050		1,043

PPNR (a-c)	798		802		857		—	%	(7)	%
PPNR, adjusted (b-d)	813		807		867		1	%	(6)	%