Document

Exhibit 99.2

HUNTINGTON BANCSHARES INCORPORATED

Quarterly Financial Supplement

March 31, 2024

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

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.

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.
	2024			2023			2023			4Q23		1Q23
Net interest income (1)	$	1,300		$	1,327		$	1,418		(2)	%	(8)	%
FTE adjustment	(13)			(11)			(9)			(18)		(44)
Net interest income	1,287			1,316			1,409			(2)		(9)
Provision for credit losses	107			126			85			(15)		26
Noninterest income	467			405			512			15		(9)
Noninterest expense	1,137			1,348			1,086			(16)		5
Income before income taxes	510			247			750			106		(32)
Provision (benefit) for income taxes	86			(1)			144			8,700		(40)
Income after income taxes	424			248			606			71		(30)
Income attributable to non-controlling interest	5			5			4			—		25
Net income attributable to Huntington	419			243			602			72		(30)
Dividends on preferred shares	36			36			29			—		24
Impact of preferred stock repurchases	—			(8)			—			NM		—
Net income applicable to common shares	$	383		$	215		$	573		78	%	(33)

Net income per common share - diluted	$	0.26		$	0.15		$	0.39		73	%	(33)	%
Cash dividends declared per common share	0.155			0.155			0.155			—		—
Tangible book value per common share at end of period	7.77			7.79			7.32			—		6

Average common shares - basic	1,448			1,448			1,443			—		—
Average common shares - diluted	1,473			1,469			1,469			—		—
Ending common shares outstanding	1,449			1,448			1,444			—		—
Return on average assets	0.89		%	0.51		%	1.32		%
Return on average common shareholders’ equity	9.2			5.2			14.6
Return on average tangible common shareholders’ equity (2)	14.2			8.4			23.1
Net interest margin (1)	3.01			3.07			3.40
Efficiency ratio (3)	63.7			77.0			55.6
Effective tax rate	16.8			(0.5)			19.2
Average total assets	$	190,306		$	187,962		$	184,894		1		3
Average earning assets	173,764			171,360			169,112			1		3
Average loans and leases	121,930			121,229			120,420			1		1

Average total deposits	$	150,728		$	149,654		$	146,144		1		3
Average core deposits (4)	144,960			144,384			141,077			—		3

Average Huntington shareholders’ equity	19,213			18,713			18,231			3		5
Average common total shareholders' equity	16,819			16,275			15,973			3		5
Average tangible common shareholders' equity	11,151			10,597			10,253			5		9
Total assets at end of period	193,519			189,368			189,070			2		2
Total Huntington shareholders’ equity at end of period	19,322			19,353			18,758			—		3

NCOs as a % of average loans and leases	0.30		%	0.31		%	0.19		%
NAL ratio	0.58			0.55			0.44
NPA ratio (5)	0.60			0.58			0.48
Allowance for loan and lease losses (ALLL) as a % of total loans and leases at the end of period	1.86			1.85			1.77
Allowance for credit losses (ACL) as a % of total loans and leases at the end of period	1.97			1.97			1.90
Common equity tier 1 risk-based capital ratio (6)	10.2			10.2			9.5
Tangible common equity / tangible asset ratio (7)	6.0			6.1			5.8

NM - Not Meaningful

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

Notes to the Quarterly 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)March 31, 2024 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)	2024		2023		Percent Changes
	(Unaudited)
Assets
Cash and due from banks	$	1,189	$	1,558	(24)	%


Interest-earning deposits with banks	11,216		8,765		28
Trading account securities	167		125		34
Available-for-sale securities	26,801		25,305		6
Held-to-maturity securities	15,416		15,750		(2)


Other securities	727		725		—
Loans held for sale	490		516		(5)
Loans and leases (1)	122,767		121,982		1
Allowance for loan and lease losses	(2,280)		(2,255)		(1)
Net loans and leases	120,487		119,727		1
Bank owned life insurance	2,767		2,759		—
Accrued income and other receivables	1,616		1,646		(2)
Premises and equipment	1,095		1,109		(1)
Goodwill	5,561		5,561		—
Servicing rights and other intangible assets	677		672		1
Other assets	5,310		5,150		3
Total assets	$	193,519	$	189,368	2	%

Liabilities and shareholders' equity
Liabilities
Deposits (2)	$	153,225	$	151,230	1	%
Short-term borrowings	182		620		(71)
Long-term debt	14,894		12,394		20
Other liabilities	5,845		5,726		2
Total liabilities	174,146		169,970		2

Shareholders' equity
Preferred stock	2,394		2,394		—
Common stock	15		15		—
Capital surplus	15,407		15,389		—
Less treasury shares, at cost	(91)		(91)		—
Accumulated other comprehensive income (loss)	(2,879)		(2,676)		(8)
Retained earnings	4,476		4,322		4
Total Huntington shareholders’ equity	19,322		19,353		—
Non-controlling interest	51		45		13
Total equity	19,373		19,398		—
Total liabilities and equity	$	193,519	$	189,368	2	%

Common shares authorized (par value of $0.01)	2,250,000,000		2,250,000,000
Common shares outstanding	1,449,254,147		1,448,319,953
Treasury shares outstanding	7,413,634		7,403,008
Preferred stock, authorized shares	6,617,808		6,617,808
Preferred shares outstanding	881,587		881,587

(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)	2024				2023				2023				2023				2023
Ending balances by type:
Total loans and leases
Commercial:
Commercial and industrial	$	51,500	42	%	$	50,657	42	%	$	49,422	41	%	$	49,834	41	%	$	50,039	42	%
Commercial real estate:
Commercial	11,339		9		11,092		9		11,365		10		11,750		10		12,132		10
Construction	1,003		1		1,330		1		1,303		1		1,416		1		1,255		1
Commercial real estate	12,342		10		12,422		10		12,668		11		13,166		11		13,387		11
Lease financing	5,133		4		5,228		4		5,161		4		5,143		4		5,244		4
Total commercial	68,975		56		68,307		56		67,251		56		68,143		56		68,670		57
Consumer:
Residential mortgage	23,744		20		23,720		20		23,427		19		23,138		19		22,472		19
Automobile	12,662		10		12,482		10		12,724		11		12,819		11		13,187		11
Home equity	10,047		8		10,113		8		10,118		8		10,135		8		10,166		8
RV and marine	5,887		5		5,899		5		5,937		5		5,640		5		5,404		4
Other consumer	1,452		1		1,461		1		1,396		1		1,350		1		1,280		1
Total consumer	53,792		44		53,675		44		53,602		44		53,082		44		52,509		43
Total loans and leases	$	122,767	100	%	$	121,982	100	%	$	120,853	100	%	$	121,225	100	%	$	121,179	100	%


	March 31,				December 31,				September 30,				June 30,				March 31,
(dollar amounts in millions)	2024				2023				2023				2023				2023
Ending balances by business segment:
Consumer & Regional Banking	$	67,512	55	%	$	67,108	55	%	$	66,202	55	%	$	65,374	54	%	$	64,387	53	%
Commercial Banking	54,994		45		54,743		45		54,451		45		55,672		46		56,599		47



Treasury / Other	261		—		131		—		200		—		179		—		193		—
Total loans and leases	$	122,767	100	%	$	121,982	100	%	$	120,853	100	%	$	121,225	100	%	$	121,179	100	%

Average balances by business segment:
Consumer & Regional Banking	$	67,136	55	%	$	66,638	55	%	$	65,738	55	%	$	64,782	54	%	$	64,209	54	%
Commercial Banking	54,584		45		54,395		45		54,873		45		56,375		46		55,919		46



Treasury / Other	210		—		196		—		173		—		188		—		292		—
Total loans and leases	$	121,930	100	%	$	121,229	100	%	$	120,784	100	%	$	121,345	100	%	$	120,420	100	%

Huntington Bancshares Incorporated

Deposits Composition

(Unaudited)


	March 31,				December 31,				September 30,				June 30,				March 31,
(dollar amounts in millions)	2024				2023				2023				2023				2023
Ending balances:
Total deposits by type:
Demand deposits - noninterest-bearing	$	29,739	19	%	$	30,967	20	%	$	31,666	21	%	$	33,340	23	%	$	36,789	25	%
Demand deposits - interest-bearing	39,200		26		39,190		26		39,822		27		40,387		28		39,827		28
Money market deposits	47,520		31		44,947		30		42,996		29		40,534		27		37,276		26
Savings and other domestic deposits	16,728		11		16,722		11		17,350		12		18,294		12		19,546		13
Core certificates of deposit (1)	14,082		9		13,626		9		12,372		8		10,314		7		6,981		5
Total core deposits	147,269		96		145,452		96		144,206		97		142,869		97		140,419		97
Other domestic deposits of $250,000 or more	487		—		447		—		446		—		381		—		282		—
Negotiable CDS, brokered and other deposits	5,469		4		5,331		4		4,215		3		4,778		3		4,577		3

Total deposits	$	153,225	100	%	$	151,230	100	%	$	148,867	100	%	$	148,028	100	%	$	145,278	100	%

Total core deposits:
Commercial	$	60,184	41	%	$	60,547	42	%	$	61,379	43	%	$	61,450	43	%	$	61,132	44	%
Consumer	87,085		59		84,905		58		82,827		57		81,419		57		79,287		56
Total core deposits	$	147,269	100	%	$	145,452	100	%	$	144,206	100	%	$	142,869	100	%	$	140,419	100	%

Total deposits by business segment:

Consumer & Regional Banking	$	112,032	73	%	$	110,157	73	%	$	108,183	73	%	$	106,502	72	%	$	105,339	72	%
Commercial Banking	35,619		23		35,466		23		36,023		24		36,459		25		34,660		24


Treasury / Other	5,574		4		5,607		4		4,661		3		5,067		3		5,279		4
Total deposits	$	153,225	100	%	$	151,230	100	%	$	148,867	100	%	$	148,028	100	%	$	145,278	100	%

Average balances:


Total core deposits:
Commercial	$	60,260	42	%	$	61,782	43	%	$	62,070	43	%	$	61,304	44	%	$	63,423	45	%
Consumer	84,700		58		82,602		57		81,040		57		79,432		56		77,654		55
Total core deposits	$	144,960	100	%	$	144,384	100	%	$	143,110	100	%	$	140,736	100	%	$	141,077	100	%

Average deposits by business segment:

Consumer & Regional Banking	$	109,263	73	%	$	108,198	72	%	$	106,300	72	%	$	104,593	71	%	$	104,151	71	%
Commercial Banking	35,656		23		35,886		24		36,673		25		35,752		25		36,288		25


Treasury / Other	5,809		4		5,570		4		5,177		3		5,214		4		5,705		4
Total deposits	$	150,728	100	%	$	149,654	100	%	$	148,150	100	%	$	145,559	100	%	$	146,144	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)
	March 31,		December 31,		September 30,		June 30,		March 31,		Percent Changes vs.
(dollar amounts in millions)	2024		2023		2023		2023		2023		4Q23		1Q23
Assets


Interest-earning deposits with banks	$	9,761	$	10,019	$	9,547	$	11,281	$	6,350	(3)	%	54	%
Securities:
Trading account securities	133		125		128		34		21		6		NM
Available-for-sale securities:
Taxable	22,515		20,056		19,834		20,920		21,368		12		5
Tax-exempt	2,676		2,686		2,807		2,745		2,640		—		1
Total available-for-sale securities	25,191		22,742		22,641		23,665		24,008		11		5


Held-to-maturity securities - taxable	15,567		15,947		16,356		16,762		16,977		(2)		(8)





Other securities	724		727		859		1,263		886		—		(18)
Total securities	41,615		39,541		39,984		41,724		41,892		5		(1)
Loans held for sale	458		571		633		559		450		(20)		2
Loans and leases: (2)
Commercial:
Commercial and industrial	50,625		49,882		49,448		50,194		49,028		1		3
Commercial real estate:
Commercial	11,365		11,309		11,624		12,062		12,282		—		(7)
Construction	1,198		1,285		1,331		1,280		1,400		(7)		(14)
Commercial real estate	12,563		12,594		12,955		13,342		13,682		—		(8)
Lease financing	5,081		5,102		5,050		5,155		5,209		—		(2)
Total commercial	68,269		67,578		67,453		68,691		67,919		1		1
Consumer:
Residential mortgage	23,710		23,573		23,278		22,765		22,327		1		6
Automobile	12,553		12,612		12,747		12,927		13,245		—		(5)
Home equity	10,072		10,107		10,108		10,154		10,258		—		(2)
RV and marine	5,892		5,934		5,813		5,478		5,366		(1)		10
Other consumer	1,434		1,425		1,385		1,330		1,305		1		10
Total consumer	53,661		53,651		53,331		52,654		52,501		—		2
Total loans and leases	121,930		121,229		120,784		121,345		120,420		1		1
Total earning assets	173,764		171,360		170,948		174,909		169,112		1		3
Cash and due from banks	1,493		1,508		1,559		1,639		1,598		(1)		(7)
Goodwill and other intangible assets	5,697		5,710		5,722		5,734		5,759		—		(1)
All other assets	11,619		11,607		10,576		10,638		10,568		—		10
Allowance for loan and lease losses	(2,267)		(2,223)		(2,206)		(2,174)		(2,143)		(2)		(6)
Total assets	$	190,306	$	187,962	$	186,599	$	190,746	$	184,894	1	%	3	%
Liabilities and shareholders' equity
Interest-bearing deposits:
Demand deposits - interest-bearing	$	38,488	$	39,138	$	39,757	$	39,772	$	40,654	(2)	%	(5)	%
Money market deposits	46,100		44,022		41,445		38,753		37,301		5		24
Savings and other domestic deposits	16,595		16,944		17,774		18,826		19,877		(2)		(17)
Core certificates of deposit (3)	13,867		13,107		11,348		8,820		5,747		6		141

Other domestic deposits of $250,000 or more	461		435		406		320		252		6		83
Negotiable CDS, brokered and other deposits	5,307		4,834		4,634		4,502		4,815		10		10

Total interest-bearing deposits	120,818		118,480		115,364		110,993		108,646		2		11
Short-term borrowings	1,300		1,906		859		5,242		4,371		(32)		(70)
Long-term debt	13,777		12,205		13,772		16,252		11,047		13		25
Total interest-bearing liabilities	135,895		132,591		129,995		132,487		124,064		2		10
Demand deposits - noninterest-bearing	29,910		31,174		32,786		34,566		37,498		(4)		(20)
All other liabilities	5,239		5,435		5,028		4,796		5,056		(4)		4
Total liabilities	171,044		169,200		167,809		171,849		166,618		1		3
Total Huntington shareholders’ equity	19,213		18,713		18,741		18,844		18,231		3		5
Non-controlling interest	49		49		49		53		45		—		9
Total equity	19,262		18,762		18,790		18,897		18,276		3		5
Total liabilities and equity	$	190,306	$	187,962	$	186,599	$	190,746	$	184,894	1	%	3	%

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

(2)Includes nonaccrual loans and leases.

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

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)	2024		2023		2023		2023		2023
Assets


Interest-earning deposits with banks	$	134	$	139	$	131	$	146	$	76
Securities:
Trading account securities	2		2		1		1		—
Available-for-sale securities:
Taxable	296		273		259		252		232
Tax-exempt	34		33		37		33		29
Total available-for-sale securities	330		306		296		285		261
Held-to-maturity securities - taxable	95		98		99		102		102



Other securities	9		13		19		11		10
Total securities	436		419		415		399		373
Loans held for sale	7		10		10		8		7
Loans and leases:
Commercial:
Commercial and industrial	801		783		776		746		686
Commercial real estate:
Commercial	215		216		225		217		207
Construction	25		27		28		26		26
Commercial real estate	240		243		253		243		233
Lease financing	79		77		73		71		68
Total commercial	1,120		1,103		1,102		1,060		987
Consumer:
Residential mortgage	227		222		213		200		190
Automobile	158		153		145		134		129
Home equity	195		197		195		187		181
RV and marine	74		77		73		63		58
Other consumer	42		41		40		39		36
Total consumer	696		690		666		623		594
Total loans and leases	1,816		1,793		1,768		1,683		1,581
Total earning assets	$	2,393	$	2,361	$	2,324	$	2,236	$	2,037

Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	$	200	$	204	$	199	$	167	$	132
Money market deposits	413		381		327		255		172
Savings and other domestic deposits	10		8		6		6		3
Core certificates of deposit (3)	160		145		119		83		43

Other domestic deposits of $250,000 or more	5		5		4		2		2
Negotiable CDS, brokered and other deposits	69		65		58		57		54

Total interest-bearing deposits	857		808		713		570		406
Short-term borrowings	19		28		17		74		60
Long-term debt	217		198		215		235		153
Total interest-bearing liabilities	1,093		1,034		945		879		619
Net interest income	$	1,300	$	1,327	$	1,379	$	1,357	$	1,418

(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)	2024		2023		2023		2023		2023
Assets


Interest-earning deposits with banks	5.50		5.59		5.48		5.17		4.81
Securities:
Trading account securities	5.15		5.40		4.98		4.92		5.37
Available-for-sale securities:
Taxable	5.26		5.43		5.22		4.82		4.34
Tax-exempt	5.05		5.01		5.08		4.87		4.40
Total available-for-sale securities	5.24		5.38		5.20		4.83		4.35
Held-to-maturity securities - taxable	2.44		2.45		2.43		2.42		2.41



Other securities	5.23		7.04		9.22		3.47		4.35
Total securities	4.19		4.23		4.15		3.82		3.56
Loans held for sale	6.51		6.95		6.42		6.05		5.85
Loans and leases: (2)
Commercial:
Commercial and industrial	6.26		6.14		6.15		5.87		5.60
Commercial real estate:
Commercial	7.49		7.48		7.55		7.14		6.73
Construction	8.23		8.40		8.30		7.96		7.40
Commercial real estate	7.56		7.57		7.63		7.22		6.80
Lease financing	6.13		5.90		5.60		5.45		5.25
Total commercial	6.49		6.39		6.39		6.10		5.82
Consumer:
Residential mortgage	3.83		3.76		3.66		3.51		3.41
Automobile	5.05		4.82		4.51		4.17		3.94
Home equity	7.77		7.70		7.66		7.42		7.14
RV and marine	5.04		5.13		4.96		4.59		4.42
Other consumer	11.91		11.67		11.67		11.59		11.18
Total consumer	5.20		5.12		4.97		4.74		4.57
Total loans and leases	5.92		5.82		5.76		5.51		5.27
Total earning assets	5.54		5.47		5.39		5.13		4.89
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	2.09		2.06		1.98		1.68		1.32
Money market deposits	3.61		3.44		3.12		2.64		1.87
Savings and other domestic deposits	0.24		0.19		0.15		0.11		0.07
Core certificates of deposit (3)	4.64		4.40		4.17		3.78		3.01

Other domestic deposits of $250,000 or more	4.18		4.20		3.78		3.27		2.45
Negotiable CDS, brokered and other deposits	5.19		5.33		4.93		5.07		4.56

Total interest-bearing deposits	2.85		2.71		2.45		2.06		1.52
Short-term borrowings	5.95		5.84		7.60		5.70		5.56
Long-term debt	6.30		6.46		6.27		5.79		5.52
Total interest-bearing liabilities	3.23		3.09		2.88		2.66		2.02

Net interest rate spread	2.31		2.38		2.51		2.47		2.87
Impact of noninterest-bearing funds on margin	0.70		0.69		0.69		0.64		0.53
Net interest margin	3.01	%	3.07	%	3.20	%	3.11	%	3.40	%


Commercial Loan Derivative Impact
(Unaudited)	Quarterly Average Rates
	March 31,		December 31,		September 30,		June 30,		March 31,
Fully-taxable equivalent basis (1)	2024		2023		2023		2023		2023
Commercial loans (2)(4)	7.22	%	7.14	%	7.09	%	6.82	%	6.42	%
Impact of commercial loan derivatives	(0.73)		(0.75)		(0.70)		(0.72)		(0.60)
Total commercial - as reported	6.49	%	6.39	%	6.39	%	6.10	%	5.82	%
Average 1 Month LIBOR							5.09	%	4.62	%
Average SOFR	5.32	%	5.32	%	5.23	%	4.97	%	4.50	%

(1)Fully-taxable equivalent (FTE) yields are calculated assuming a 21% tax rate. See page 9 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)	March 31,		December 31,		September 30,		June 30,		March 31,
	2024		2023		2023		2023		2023
Interest income	$	2,380	$	2,350	$	2,313	$	2,225	$	2,028
Interest expense	1,093		1,034		945		879		619
Net interest income	1,287		1,316		1,368		1,346		1,409
Provision for credit losses	107		126		99		92		85
Net interest income after provision for credit losses	1,180		1,190		1,269		1,254		1,324
Payments and cash management revenue	146		150		152		146		137
Wealth and asset management revenue	88		86		79		83		80
Customer deposit and loan fees	77		80		80		76		76
Capital markets and advisory fees	56		69		52		62		65
Leasing revenue	22		29		32		25		26
Mortgage banking income	31		23		27		33		26
Insurance income	19		19		18		18		19
Bank owned life insurance income	16		16		18		16		16
Gain on sale of loans	5		1		2		8		3
Net gains (losses) on sales of securities	—		(3)		—		(5)		1
Other noninterest income	7		(65)		49		33		63
Total noninterest income	467		405		509		495		512
Personnel costs	639		645		622		613		649
Outside data processing and other services	166		157		149		148		151
Deposit and other insurance expense	54		234		25		23		20
Equipment	70		70		65		64		64
Net occupancy	57		65		67		54		60
Marketing	28		29		29		32		25
Professional services	25		35		27		21		16
Amortization of intangibles	12		12		12		13		13
Lease financing equipment depreciation	4		5		6		8		8
Other noninterest expense	82		96		88		74		80
Total noninterest expense	1,137		1,348		1,090		1,050		1,086
Income before income taxes	510		247		688		699		750
Provision (benefit) for income taxes	86		(1)		136		134		144
Income after income taxes	424		248		552		565		606
Income attributable to non-controlling interest	5		5		5		6		4
Net income attributable to Huntington	419		243		547		559		602
Dividends on preferred shares	36		36		37		40		29
Impact of preferred stock repurchases	—		(8)		—		—		—
Net income applicable to common shares	$	383	$	215	$	510	$	519	$	573

Average common shares - basic	1,448		1,448		1,448		1,446		1,443
Average common shares - diluted	1,473		1,469		1,468		1,466		1,469

Per common share
Net income - basic	$	0.26	$	0.15	$	0.35	$	0.36	$	0.40
Net income - diluted	0.26		0.15		0.35		0.35		0.39
Cash dividends declared	0.155		0.155		0.155		0.155		0.155

Revenue - fully-taxable equivalent (FTE)
Net interest income	$	1,287	$	1,316	$	1,368	$	1,346	$	1,409
FTE adjustment	13		11		11		11		9
Net interest income (1)	1,300		1,327		1,379		1,357		1,418
Noninterest income	467		405		509		495		512
Total revenue (1)	$	1,767	$	1,732	$	1,888	$	1,852	$	1,930

(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)	2024			2023			2023			2023			2023			4Q23		1Q23
Net origination and secondary marketing income	$	16		$	12		$	18		$	23		$	16		33	%	—	%
Net mortgage servicing income
Loan servicing income	25			24			24			23			23			4		9
Amortization of capitalized servicing	(11)			(13)			(13)			(12)			(10)			15		(10)
Operating income	14			11			11			11			13			27		8
MSR valuation adjustment (1)	20			(34)			38			15			(12)			159		267
(Losses) gains due to MSR hedging	(19)			34			(38)			(15)			9			(156)		(311)
Net MSR risk management	1			—			—			—			(3)			100		133
Total net mortgage servicing income	$	15		$	11		$	11		$	11		$	10		36	%	50	%
All other	—			—			(2)			(1)			—			—		—
Mortgage banking income	$	31		$	23		$	27		$	33		$	26		35	%	19	%

Mortgage origination volume	$	1,276		$	1,666		$	2,020		$	2,504		$	1,412		(23)	%	(10)	%
Mortgage origination volume for sale	834			962			1,195			1,239			809			(13)		3

Third party mortgage loans serviced (2)	33,303			33,237			32,965			32,712			32,496			—		2
Mortgage servicing rights (2)	534			515			547			505			485			4		10
MSR % of investor servicing portfolio (2)	1.60		%	1.55		%	1.66		%	1.55		%	1.49		%	3	%	7	%

(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)	2024			2023			2023			2023			2023
Allowance for loan and lease losses, beginning of period	$	2,255		$	2,208		$	2,177		$	2,142		$	2,121

Loan and lease charge-offs	(128)			(132)			(131)			(92)			(99)
Recoveries of loans and leases previously charged-off	36			38			58			43			42
Net loan and lease charge-offs	(92)			(94)			(73)			(49)			(57)
Provision for loan and lease losses	117			141			104			84			78


Allowance for loan and lease losses, end of period	2,280			2,255			2,208			2,177			2,142
Allowance for unfunded lending commitments, beginning of period	145			160			165			157			150

Provision for unfunded lending commitments	(10)			(15)			(5)			8			7


Allowance for unfunded lending commitments, end of period	135			145			160			165			157
Total allowance for credit losses, end of period	$	2,415		$	2,400		$	2,368		$	2,342		$	2,299
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases	1.86		%	1.85		%	1.83		%	1.80		%	1.77		%
Nonaccrual loans and leases (NALs)	318			338			373			427			402
Nonperforming assets (NPAs)	309			317			348			391			371
Total allowance for credit losses (ACL) as % of:
Total loans and leases	1.97		%	1.97		%	1.96		%	1.93		%	1.90		%
Nonaccrual loans and leases (NALs)	337			360			400			459			431
Nonperforming assets (NPAs)	327			337			373			420			398


	Three Months Ended
	March 31,		December 31,		September 30,		June 30,		March 31,
(dollar amounts in millions)	2024		2023		2023		2023		2023
Allocation of allowance for credit losses
Commercial
Commercial and industrial	$	974	$	993	$	973	$	994	$	967
Commercial real estate	564		522		483		442		440
Lease financing	51		48		48		47		50
Total commercial	1,589		1,563		1,504		1,483		1,457
Consumer
Residential mortgage	163		188		200		194		176
Automobile	146		142		143		144		151
Home equity	137		114		115		119		118
RV and marine	148		148		151		145		144
Other consumer	97		100		95		92		96
Total consumer	691		692		704		694		685
Total allowance for loan and lease losses	2,280		2,255		2,208		2,177		2,142
Allowance for unfunded lending commitments	135		145		160		165		157
Total allowance for credit losses	$	2,415	$	2,400	$	2,368	$	2,342	$	2,299

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)	2024			2023			2023			2023			2023
Net charge-offs (recoveries) by loan and lease type:
Commercial:
Commercial and industrial	$	42		$	39		$	32		$	20		$	16



Commercial real estate	13			21			11			7			18
Lease financing	—			(3)			2			—			(5)
Total commercial	55			57			45			27			29
Consumer:
Residential mortgage	—			—			1			1			—
Automobile	9			9			4			3			5
Home equity	—			—			—			—			(1)
RV and marine	5			5			3			2			2
Other consumer	23			23			20			16			22
Total consumer	37			37			28			22			28
Total net charge-offs	$	92		$	94		$	73		$	49		$	57


	Three Months Ended
	March 31,			December 31,			September 30,			June 30,			March 31,
	2024			2023			2023			2023			2023
Net charge-offs (recoveries) - annualized percentages:
Commercial:
Commercial and industrial	0.33		%	0.32		%	0.26		%	0.15		%	0.13		%



Commercial real estate	0.41			0.65			0.35			0.23			0.51
Lease financing	0.01			(0.24)			0.12			—			(0.37)
Total commercial	0.32			0.34			0.27			0.16			0.17
Consumer:
Residential mortgage	—			0.01			0.01			0.01			0.01
Automobile	0.27			0.27			0.14			0.10			0.14
Home equity	0.01			0.01			(0.01)			(0.02)			(0.02)
RV and marine	0.36			0.34			0.16			0.13			0.18
Other consumer	6.39			6.48			6.09			5.17			6.37
Total consumer	0.28			0.28			0.21			0.17			0.21
Net charge-offs as a % of average loans and leases	0.30		%	0.31		%	0.24		%	0.16		%	0.19		%

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)	2024			2023			2023			2023			2023
Nonaccrual loans and leases (NALs):
Commercial and industrial	$	376		$	344		$	314		$	267		$	273
Commercial real estate	154			140			102			75			86
Lease financing	10			14			14			15			14
Residential mortgage	75			72			75			73			81
Automobile	4			4			4			4			4
Home equity	96			91			82			75			74
RV and marine	1			2			1			1			1

Total nonaccrual loans and leases	716			667			592			510			533



Other real estate, net	10			10			14			18			20
Other NPAs (1)	12			34			28			29			25
Total nonperforming assets	$	738		$	711		$	634		$	557		$	578

Nonaccrual loans and leases as a % of total loans and leases	0.58		%	0.55		%	0.49		%	0.42		%	0.44		%
NPA ratio (2)	0.60			0.58			0.52			0.46			0.48
(NPA+90days)/(Loan+OREO) (3)	0.75			0.74			0.66			0.60			0.63


	Three Months Ended
	March 31,		December 31,		September 30,		June 30,		March 31,
(dollar amounts in millions)	2024		2023		2023		2023		2023
Nonperforming assets, beginning of period	$	711	$	634	$	557	$	578	$	594
New nonperforming assets	263		300		252		188		237


Returns to accruing status	(68)		(47)		(23)		(34)		(73)
Charge-offs	(64)		(73)		(62)		(42)		(54)
Payments	(102)		(98)		(85)		(118)		(124)
Sales	(2)		(5)		(5)		(15)		(2)

Nonperforming assets, end of period	$	738	$	711	$	634	$	557	$	578

(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)	2024			2023			2023			2023			2023
Accruing loans and leases past due 90+ days:
Commercial and industrial	$	1		$	1		$	—		$	7		$	12

Lease financing	3			4			7			12			10
Residential mortgage (excluding loans guaranteed by the U.S. Government)	26			27			22			18			20
Automobile	8			9			8			6			7
Home equity	17			22			19			18			18
RV and marine	2			3			2			2			2
Other consumer	4			4			3			3			2
Total, excl. loans guaranteed by the U.S. Government	61			70			61			66			71
Add: loans guaranteed by U.S. Government	122			119			102			103			114
Total accruing loans and leases past due 90+ days, including loans guaranteed by the U.S. Government	$	183		$	189		$	163		$	169		$	185

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

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)	2024			2023			2023			2023			2023
Common equity tier 1 risk-based capital ratio: (1)
Total Huntington shareholders’ equity	$	19,322		$	19,353		$	18,483		$	18,788		$	18,758
Regulatory capital adjustments:
CECL transitional amount (2)	109			219			219			219			219
Shareholders’ preferred equity and related surplus	(2,404)			(2,404)			(2,494)			(2,494)			(2,494)
Accumulated other comprehensive loss	2,879			2,676			3,622			3,006			2,755
Goodwill and other intangibles, net of taxes	(5,574)			(5,591)			(5,605)			(5,620)			(5,636)
Deferred tax assets from tax loss and credit carryforwards	(48)			(41)			(14)			(14)			(14)
Common equity tier 1 capital	14,284			14,212			14,211			13,885			13,588
Additional tier 1 capital
Shareholders’ preferred equity and related surplus	2,404			2,404			2,494			2,494			2,494


Tier 1 capital	16,688			16,616			16,705			16,379			16,082
Long-term debt and other tier 2 qualifying instruments	1,278			1,306			1,383			1,394			1,395
Qualifying allowance for loan and lease losses	1,747			1,735			1,758			1,767			1,779
Tier 2 capital	3,025			3,041			3,141			3,161			3,174
Total risk-based capital	$	19,713		$	19,657		$	19,846		$	19,540		$	19,256
Risk-weighted assets (RWA)(1)	$	139,616		$	138,706		$	140,688		$	141,432		$	142,335
Common equity tier 1 risk-based capital ratio (1)	10.2		%	10.2		%	10.1		%	9.8		%	9.5		%
Other regulatory capital data:
Tier 1 leverage ratio (1)	8.9			9.3			9.4			9.0			8.8
Tier 1 risk-based capital ratio (1)	12.0			12.0			11.9			11.6			11.3
Total risk-based capital ratio (1)	14.1			14.2			14.1			13.8			13.5
Non-regulatory capital data:
Tangible common equity / RWA ratio (1)	8.1			8.1			7.3			7.5			7.4

(1)March 31, 2024 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, 2024, 75% of the cumulative CECL deferral has been phased in. As of December 31, 2023, September 30, 2023, June 30, 2023, and March 31, 2023, 50% 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,
	2024		2023		2023		2023		2023






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		1,448		1,448		1,446		1,443
Average - diluted	1,473		1,469		1,468		1,466		1,469
Ending	1,449		1,448		1,448		1,448		1,444
Tangible book value per common share (1)	$	7.77	$	7.79	$	7.12	$	7.33	$	7.32

Non-regulatory capital


	March 31,			December 31,			September 30,			June 30,			March 31,
(dollar amounts in millions)	2024			2023			2023			2023			2023
Calculation of tangible equity / asset ratio:
Total Huntington shareholders’ equity	$	19,322		$	19,353		$	18,483		$	18,788		$	18,758
Goodwill and other intangible assets	(5,692)			(5,704)			(5,716)			(5,728)			(5,741)

Deferred tax liability on other intangible assets (1)	28			30			33			35			38
Total tangible equity	13,658			13,679			12,800			13,095			13,055
Preferred equity	(2,394)			(2,394)			(2,484)			(2,484)			(2,484)
Total tangible common equity	$	11,264		$	11,285		$	10,316		$	10,611		$	10,571
Total assets	$	193,519		$	189,368		$	186,650		$	188,505		$	189,070
Goodwill and other intangible assets	(5,692)			(5,704)			(5,716)			(5,728)			(5,741)
Deferred tax liability on other intangible assets (1)	28			30			33			35			38
Total tangible assets	$	187,855		$	183,694		$	180,967		$	182,812		$	183,367
Tangible equity / tangible asset ratio	7.3		%	7.4		%	7.1		%	7.2		%	7.1		%
Tangible common equity / tangible asset ratio	6.0		%	6.1		%	5.7		%	5.8		%	5.8		%
Other data:
Number of employees (Average full-time equivalent)	19,719			19,612			19,826			20,200			20,198
Number of domestic full-service branches (2)	969			999			1,001			1,001			1,001
ATM Count	1,606			1,630			1,631			1,641			1,668

(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.