Form: 8-K

Current report filing

October 17, 2024

Documents


Exhibit 99.2
HUNTINGTON BANCSHARES INCORPORATED
Quarterly Financial Supplement
September 30, 2024
Table of Contents
Quarterly Accruing Past Due Loans and Leases


Notes:
The preparation of financial statement data in conformity with accounting principles generally accepted in the United States (GAAP) requires management to make estimates and assumptions that affect amounts reported. Actual results could differ from those estimates.
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.
2024 2024 2023 2Q24 3Q23
Net interest income (1) $ 1,364  $ 1,325  $ 1,379  3  % (1) %
FTE adjustment (13) (13) (11) —  (18)
Net interest income 1,351  1,312  1,368  3  (1)
Provision for credit losses 106  100  99  6  7 
Noninterest income 523  491  509  7  3 
Noninterest expense 1,130  1,117  1,090  1  4 
Income before income taxes 638  586  688  9  (7)
Provision for income taxes
 116  106  136  9  (15)
Income after income taxes 522  480  552  9  (5)
Income attributable to non-controlling interest 5  6  5  (17) — 
Net income attributable to Huntington 517  474  547  9  (5)
Dividends on preferred shares 36  35  37  3  (3)
Net income applicable to common shares $ 481  $ 439  $ 510  10  % (6)
Net income per common share - diluted $ 0.33  $ 0.30  $ 0.35  10  % (6) %
Cash dividends declared per common share 0.155  0.155  0.155  —  — 
Tangible book value per common share at end of period 8.65  7.89  7.12  10  21 
Average common shares - basic 1,453  1,451  1,448  —  — 
Average common shares - diluted 1,477  1,474  1,468  —  1 
Ending common shares outstanding 1,453  1,452  1,448  —  — 
Return on average assets 1.04  % 0.98  % 1.16  %
Return on average common shareholders’ equity 10.8  10.4  12.4 
Return on average tangible common shareholders’ equity (2) 16.2  16.1  19.5 
Net interest margin (1) 2.98  2.99  3.20 
Efficiency ratio (3) 59.4  60.8  57.0 
Effective tax rate 18.2  18.2  19.7 
Average total assets $ 198,278  $ 194,558  $ 186,599  2  6 
Average earning assets 181,891  178,062  170,948  2  6 
Average loans and leases 124,507  123,376  120,784  1  3 
Average total deposits $ 156,488  $ 153,578  $ 148,150  2  6 
Average core deposits (4) 149,734  147,393  143,110  2  5 
Average Huntington shareholders’ equity 20,113  19,254  18,741  4  7 
Average common total shareholders' equity 17,719  16,861  16,256  5  9 
Average tangible common shareholders' equity 12,069  11,201  10,568  8  14 
Total assets at end of period 200,535  196,310  186,650  2  7 
Total Huntington shareholders’ equity at end of period 20,606  19,515  18,483  6  11 
NCOs as a % of average loans and leases 0.30  % 0.29  % 0.24  %
NAL ratio 0.58  0.59  0.49 
NPA ratio (5) 0.62  0.63  0.52 
Allowance for loan and lease losses (ALLL) as a % of total loans and leases at the end of period 1.77  1.85  1.83 
Allowance for credit losses (ACL) as a % of total loans and leases at the end of period 1.93  1.95  1.96 
Common equity tier 1 risk-based capital ratio (6) 10.4  10.4  10.1 
Tangible common equity / tangible asset ratio (7) 6.4  6.0  5.7 
See Notes to the Quarterly and Year to Date Key Statistics.
1

Huntington Bancshares Incorporated
Year to Date Key Statistics
(Unaudited)
Nine Months Ended September 30, Change
(dollar amounts in millions, except per share data) 2024 2023 Amount Percent
Net interest income (1)
 $ 3,989  $ 4,154  $ (165) (4) %
FTE adjustment (39) (31) (8) (26)
Net interest income
 3,950  4,123  (173) (4)
Provision for credit losses 313  276  37  13 
Noninterest income 1,481  1,516  (35) (2)
Noninterest expense 3,384  3,226  158  5 
Income before income taxes
 1,734  2,137  (403) (19)
Provision for income taxes 308  414  (106) (26)
Income after income taxes 1,426  1,723  (297) (17)
Income attributable to non-controlling interest 16  15  1  7 
Net income attributable to Huntington 1,410  1,708  (298) (17)
Dividends on preferred shares 107  106  1  1 
Net income applicable to common shares
 $ 1,303  $ 1,602  $ (299) (19) %
Net income per common share - diluted
 $ 0.88  $ 1.09  $ (0.21) (19) %
Cash dividends declared per common share
 0.465  0.465  —  — 
Average common shares - basic
 1,451  1,446  5  — 
Average common shares - diluted
1,475  1,468  7  — 
Return on average assets
 0.97  % 1.22  %
Return on average common shareholders’ equity
 10.2  13.2 
Return on average tangible common shareholders’ equity (2)
 15.5  20.8 
Net interest margin (1)
 3.00  3.24 
Efficiency ratio (3)
 61.2  56.2 
Effective tax rate
 17.8  19.4 
Average total assets
$ 194,395  $ 187,419  $ 6,976  4  %
Average earning assets
 177,920  171,663  6,257  4 
Average loans and leases
123,276  120,851  2,425  2 
Average total deposits
153,609  146,625  6,984  5 
Average core deposits (4) 147,371  141,649  5,722  4 
Average Huntington shareholders’ equity 19,529  18,607  922  5 
Average common total shareholders' equity
17,135  16,197  938  6 
Average tangible common shareholders' equity
11,476  10,496  980  9 
NCOs as a % of average loans and leases
 0.30  % 0.20  %
NAL ratio
 0.58  0.49 
NPA ratio (5) 0.62  0.52 
See Notes to the Quarterly and Year to Date Key Statistics.

2

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, 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.
3

Huntington Bancshares Incorporated
Consolidated Balance Sheets
September 30, December 31,
(dollar amounts in millions) 2024 2023
Percent Changes
(Unaudited)
Assets
Cash and due from banks $ 1,677  $ 1,558  8  %
Interest-earning deposits with banks 11,163  8,765  27 
Trading account securities 472  125  NM
Available-for-sale securities 28,492  25,305  13 
Held-to-maturity securities 15,670  15,750  (1)
Other securities 826  725  14 
Loans held for sale 655  516  27 
Loans and leases (1) 126,387  121,982  4 
Allowance for loan and lease losses (2,235) (2,255) 1 
Net loans and leases 124,152  119,727  4 
Bank owned life insurance 2,782  2,759  1 
Accrued income and other receivables 1,633  1,646  (1)
Premises and equipment 1,093  1,109  (1)
Goodwill 5,561  5,561  — 
Servicing rights and other intangible assets 633  672  (6)
Other assets 5,726  5,150  11 
Total assets $ 200,535  $ 189,368  6  %
Liabilities and shareholders' equity
Liabilities
Deposits (2) $ 158,351  $ 151,230  5  %
Short-term borrowings 868  620  40 
Long-term debt 15,656  12,394  26 
Other liabilities 5,008  5,726  (13)
Total liabilities 179,883  169,970  6 
Shareholders' equity
Preferred stock 2,394  2,394  — 
Common stock 15  15  — 
Capital surplus 15,455  15,389  — 
Less treasury shares, at cost (89) (91) 2 
Accumulated other comprehensive income (loss) (2,104) (2,676) 21 
Retained earnings 4,935  4,322  14 
Total Huntington shareholders’ equity 20,606  19,353  6 
Non-controlling interest 46  45  2 
Total equity 20,652  19,398  6 
Total liabilities and equity $ 200,535  $ 189,368  6  %
Common shares authorized (par value of $0.01) 2,250,000,000  2,250,000,000 
Common shares outstanding 1,452,811,392  1,448,319,953 
Treasury shares outstanding 7,174,374  7,403,008 
Preferred stock, authorized shares 6,617,808  6,617,808 
Preferred shares outstanding 881,587  881,587 
(1)See page 5 for detail of loans and leases.
(2)See page 6 for detail of deposits.
4

Huntington Bancshares Incorporated
Loans and Leases Composition
(Unaudited)
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2024 2024 2024 2023 2023
Ending balances by type:
Total loans and leases
Commercial:
Commercial and industrial $ 53,601  43  % $ 52,307  42  % $ 51,500  42  % $ 50,657  42  % $ 49,422  41  %
Commercial real estate:
Commercial 10,647  8  10,997  9  11,339  9  11,092  9  11,365  10 
Construction 896  1  936  1  1,003  1  1,330  1  1,303  1 
Commercial real estate 11,543  9  11,933  10  12,342  10  12,422  10  12,668  11 
Lease financing 5,342  4  5,202  4  5,133  4  5,228  4  5,161  4 
Total commercial 70,486  56  69,442  56  68,975  56  68,307  56  67,251  56 
Consumer:
Residential mortgage 24,100  19  24,069  19  23,744  20  23,720  20  23,427  19 
Automobile 14,003  11  13,233  11  12,662  10  12,482  10  12,724  11 
Home equity 10,129  8  10,076  8  10,047  8  10,113  8  10,118  8 
RV and marine 6,042  5  6,042  5  5,887  5  5,899  5  5,937  5 
Other consumer 1,627  1  1,560  1  1,452  1  1,461  1  1,396  1 
Total consumer 55,901  44  54,980  44  53,792  44  53,675  44  53,602  44 
Total loans and leases $ 126,387  100  % $ 124,422  100  % $ 122,767  100  % $ 121,982  100  % $ 120,853  100  %
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2024 2024 2024 2023 2023
Ending balances by business segment:
Consumer & Regional Banking $ 70,742  56  % $ 69,328  56  % $ 67,512  55  % $ 67,108  55  % $ 66,202  55  %
Commercial Banking 55,441  44  54,941  44  54,994  45  54,743  45  54,451  45 
Treasury / Other 204  —  153  —  261  —  131  —  200  — 
Total loans and leases $ 126,387  100  % $ 124,422  100  % $ 122,767  100  % $ 121,982  100  % $ 120,853  100  %
Average balances by business segment:
Consumer & Regional Banking $ 69,759  56  % $ 68,405  56  % $ 67,136  55  % $ 66,638  55  % $ 65,738  55  %
Commercial Banking 54,464  44  54,748  44  54,584  45  54,395  45  54,873  45 
Treasury / Other 284  —  223  —  210  —  196  —  173  — 
Total loans and leases $ 124,507  100  % $ 123,376  100  % $ 121,930  100  % $ 121,229  100  % $ 120,784  100  %
5

Huntington Bancshares Incorporated
Deposits Composition
(Unaudited)
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2024 2024 2024 2023 2023
Ending balances:
Total deposits by type:
Demand deposits - noninterest-bearing $ 29,047  18  % $ 28,636  19  % $ 29,739  19  % $ 30,967  20  % $ 31,666  21  %
Demand deposits - interest-bearing 41,262  26  39,913  26  39,200  26  39,190  26  39,822  27 
Money market deposits 51,005  33  49,182  32  47,520  31  44,947  30  42,996  29 
Savings and other domestic deposits 15,650  10  16,175  10  16,728  11  16,722  11  17,350  12 
Core certificates of deposit (1) 14,326  9  13,605  9  14,082  9  13,626  9  12,372  8 
Total core deposits 151,290  96  147,511  96  147,269  96  145,452  96  144,206  97 
Other domestic deposits of $250,000 or more 500  —  444  —  487  —  447  —  446  — 
Negotiable CDS, brokered and other deposits
 6,561  4  6,412  4  5,469  4  5,331  4  4,215  3 
Total deposits $ 158,351  100  % $ 154,367  100  % $ 153,225  100  % $ 151,230  100  % $ 148,867  100  %
Total core deposits:
Commercial $ 66,421  44  % $ 61,359  42  % $ 60,184  41  % $ 60,547  42  % $ 61,379  43  %
Consumer 84,869  56  86,152  58  87,085  59  84,905  58  82,827  57 
Total core deposits $ 151,290  100  % $ 147,511  100  % $ 147,269  100  % $ 145,452  100  % $ 144,206  100  %
Total deposits by business segment:
Consumer & Regional Banking $ 110,107  70  % $ 110,913  72  % $ 112,032  73  % $ 110,157  73  % $ 108,183  73  %
Commercial Banking 41,597  26  38,110  25  35,619  23  35,466  23  36,023  24 
Treasury / Other 6,647  4  5,344  3  5,574  4  5,607  4  4,661  3 
Total deposits $ 158,351  100  % $ 154,367  100  % $ 153,225  100  % $ 151,230  100  % $ 148,867  100  %
Average balances:
Total core deposits:
Commercial $ 64,826  43  % $ 61,491  42  % $ 60,260  42  % $ 61,782  43  % $ 62,070  43  %
Consumer 84,908  57  85,902  58  84,700  58  82,602  57  81,040  57 
Total core deposits $ 149,734  100  % $ 147,393  100  % $ 144,960  100  % $ 144,384  100  % $ 143,110  100  %
Average deposits by business segment:
Consumer & Regional Banking $ 109,884  70  % $ 110,819  72  % $ 109,263  73  % $ 108,198  72  % $ 106,300  72  %
Commercial Banking 40,153  26  36,765  24  35,656  23  35,886  24  36,673  25 
Treasury / Other 6,451  4  5,994  4  5,809  4  5,570  4  5,177  3 
Total deposits $ 156,488  100  % $ 153,578  100  % $ 150,728  100  % $ 149,654  100  % $ 148,150  100  %
(1)Includes consumer certificates of deposit of $250,000 or more.


6

Huntington Bancshares Incorporated
Consolidated Quarterly Average Balance Sheets
(Unaudited)
Quarterly Average Balances (1)
September 30, June 30, March 31, December 31, September 30, Percent Changes vs.
(dollar amounts in millions) 2024 2024 2024 2023 2023 2Q24 3Q23
Assets
Interest-earning deposits with banks $ 12,532  $ 11,116  $ 9,761  $ 10,019  $ 9,547  13  % 31  %
Securities:
Trading account securities 136  143  133  125  128  (5) 6  %
Available-for-sale securities:
Taxable 25,434  24,184  22,515  20,056  19,834  5  28 
Tax-exempt 2,699  2,684  2,676  2,686  2,807  1  (4)
Total available-for-sale securities 28,133  26,868  25,191  22,742  22,641  5  24 
Held-to-maturity securities - taxable 15,078  15,211  15,567  15,947  16,356  (1) (8)
Other securities 829  776  724  727  859  7  (3)
Total securities 44,176  42,998  41,615  39,541  39,984  3  10 
Loans held for sale 676  572  458  571  633  18  7 
Loans and leases: (2)
Commercial:
Commercial and industrial 52,194  51,724  50,625  49,882  49,448  1  6 
Commercial real estate:
Commercial 10,835  11,247  11,365  11,309  11,624  (4) (7)
Construction 909  916  1,198  1,285  1,331  (1) (32)
Commercial real estate 11,744  12,163  12,563  12,594  12,955  (3) (9)
Lease financing 5,180  5,071  5,081  5,102  5,050  2  3 
Total commercial 69,118  68,958  68,269  67,578  67,453  —  2 
Consumer:
Residential mortgage 24,074  23,909  23,710  23,573  23,278  1  3 
Automobile 13,584  12,989  12,553  12,612  12,747  5  7 
Home equity 10,089  10,056  10,072  10,107  10,108  —  — 
RV and marine 6,046  5,966  5,892  5,934  5,813  1  4 
Other consumer 1,596  1,498  1,434  1,425  1,385  7  15 
Total consumer 55,389  54,418  53,661  53,651  53,331  2  4 
Total loans and leases 124,507  123,376  121,930  121,229  120,784  1  3 
Total earning assets 181,891  178,062  173,764  171,360  170,948  2  6 
Cash and due from banks 1,407  1,340  1,493  1,508  1,559  5  (10)
Goodwill and other intangible assets 5,674  5,685  5,697  5,710  5,722  —  (1)
All other assets 11,620  11,773  11,619  11,607  10,576  (1) 10 
Allowance for loan and lease losses (2,314) (2,302) (2,267) (2,223) (2,206) (1) (5)
Total assets $ 198,278  $ 194,558  $ 190,306  $ 187,962  $ 186,599  2  % 6  %
Liabilities and shareholders' equity
Interest-bearing deposits:
Demand deposits - interest-bearing $ 40,918  $ 39,082  $ 38,488  $ 39,138  $ 39,757  5  % 3  %
Money market deposits 50,334  48,263  46,100  44,022  41,445  4  21 
Savings and other domestic deposits 15,863  16,387  16,595  16,944  17,774  (3) (11)
Core certificates of deposit (3) 13,819  14,031  13,867  13,107  11,348  (2) 22 
Other domestic deposits of $250,000 or more 455  449  461  435  406  1  12 
Negotiable CDS, brokered and other deposits
 6,299  5,736  5,307  4,834  4,634  10  36 
Total interest-bearing deposits 127,688  123,948  120,818  118,480  115,364  3  11 
Short-term borrowings 826  1,214  1,300  1,906  859  (32) (4)
Long-term debt 15,878  15,146  13,777  12,205  13,772  5  15 
Total interest-bearing liabilities 144,392  140,308  135,895  132,591  129,995  3  11 
Demand deposits - noninterest-bearing 28,800  29,630  29,910  31,174  32,786  (3) (12)
All other liabilities 4,925  5,314  5,239  5,435  5,028  (7) (2)
Total liabilities 178,117  175,252  171,044  169,200  167,809  2  6 
Total Huntington shareholders’ equity 20,113  19,254  19,213  18,713  18,741  4  7 
Non-controlling interest 48  52  49  49  49  (8) (2)
Total equity 20,161  19,306  19,262  18,762  18,790  4  7 
Total liabilities and equity $ 198,278  $ 194,558  $ 190,306  $ 187,962  $ 186,599  2  % 6  %
(1)Amounts include the effects of hedge and risk management activities associated with the respective asset and liability categories.
(2)Includes nonaccrual loans and leases.
(3)Includes consumer certificates of deposit of $250,000 or more.
7

Huntington Bancshares Incorporated
Consolidated Quarterly Net Interest Margin - Interest Income / Expense (1)(2)
(Unaudited)
Quarterly Interest Income / Expense
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2024 2024 2024 2023 2023
Assets
Interest-earning deposits with banks $ 174  $ 154  $ 134  $ 139  $ 131 
Securities:
Trading account securities 1  2  2  2  1 
Available-for-sale securities:
Taxable 331  322  296  273  259 
Tax-exempt 35  34  34  33  37 
Total available-for-sale securities 366  356  330  306  296 
Held-to-maturity securities - taxable 93  93  95  98  99 
Other securities 11  10  9  13  19 
Total securities 471  461  436  419  415 
Loans held for sale 12  10  7  10  10 
Loans and leases:
Commercial:
Commercial and industrial 840  829  801  783  776 
Commercial real estate:
Commercial 207  214  215  216  225 
Construction 20  19  25  27  28 
Commercial real estate 227  233  240  243  253 
Lease financing 86  82  79  77  73 
Total commercial 1,153  1,144  1,120  1,103  1,102 
Consumer:
Residential mortgage 241  232  227  222  213 
Automobile 191  172  158  153  145 
Home equity 199  196  195  197  195 
RV and marine 79  76  74  77  73 
Other consumer 48  44  42  41  40 
Total consumer 758  720  696  690  666 
Total loans and leases 1,911  1,864  1,816  1,793  1,768 
Total earning assets $ 2,568  $ 2,489  $ 2,393  $ 2,361  $ 2,324 
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing $ 228  $ 206  $ 200  $ 204  $ 199 
Money market deposits 451  442  413  381  327 
Savings and other domestic deposits 13  12  10  8  6 
Core certificates of deposit (3) 165  166  160  145  119 
Other domestic deposits of $250,000 or more 5  5  5  5  4 
Negotiable CDS, brokered and other deposits
 83  76  69  65  58 
Total interest-bearing deposits 945  907  857  808  713 
Short-term borrowings 14  19  19  28  17 
Long-term debt 245  238  217  198  215 
Total interest-bearing liabilities 1,204  1,164  1,093  1,034  945 
Net interest income $ 1,364  $ 1,325  $ 1,300  $ 1,327  $ 1,379 
(1)Fully-taxable equivalent (FTE) income and expense calculated assuming a 21% tax rate. See page 10 for the FTE adjustment.
(2)Amounts include the effects of hedge and risk management activities associated with the respective asset and liability categories.
(3)Includes consumer certificates of deposit of $250,000 or more.


8

Huntington Bancshares Incorporated
Consolidated Quarterly Net Interest Margin - Yield
(Unaudited)
 Quarterly Average Rates
September 30, June 30, March 31, December 31, September 30,
Fully-taxable equivalent basis (1) 2024 2024 2024 2023 2023
Assets
Interest-earning deposits with banks 5.55  5.55  5.50  5.59  5.48 
Securities:
Trading account securities 3.28  5.10  5.15  5.40  4.98 
Available-for-sale securities:
Taxable 5.21  5.33  5.26  5.43  5.22 
Tax-exempt 5.23  5.07  5.05  5.01  5.08 
Total available-for-sale securities 5.21  5.30  5.24  5.38  5.20 
Held-to-maturity securities - taxable 2.47  2.44  2.44  2.45  2.43 
Other securities 4.86  5.21  5.23  7.04  9.22 
Total securities 4.26  4.29  4.19  4.23  4.15 
Loans held for sale 6.92  6.81  6.51  6.95  6.42 
Loans and leases: (2)
Commercial:
Commercial and industrial 6.31  6.33  6.26  6.14  6.15 
Commercial real estate:
Commercial 7.47  7.53  7.49  7.48  7.55 
Construction 8.52  8.41  8.23  8.40  8.30 
Commercial real estate 7.55  7.60  7.56  7.57  7.63 
Lease financing 6.51  6.41  6.13  5.90  5.60 
Total commercial 6.53  6.56  6.49  6.39  6.39 
Consumer:
Residential mortgage 4.00  3.89  3.83  3.76  3.66 
Automobile 5.59  5.34  5.05  4.82  4.51 
Home equity 7.86  7.86  7.77  7.70  7.66 
RV and marine 5.24  5.11  5.04  5.13  4.96 
Other consumer 11.69  11.75  11.91  11.67  11.67 
Total consumer 5.45  5.32  5.20  5.12  4.97 
Total loans and leases 6.05  6.01  5.92  5.82  5.76 
Total earning assets 5.62  5.62  5.54  5.47  5.39 
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing 2.22  2.11  2.09  2.06  1.98 
Money market deposits 3.56  3.68  3.61  3.44  3.12 
Savings and other domestic deposits 0.33  0.30  0.24  0.19  0.15 
Core certificates of deposit (3) 4.74  4.77  4.64  4.40  4.17 
Other domestic deposits of $250,000 or more 4.37  4.44  4.18  4.20  3.78 
Negotiable CDS, brokered and other deposits
 5.27  5.35  5.19  5.33  4.93 
Total interest-bearing deposits 2.94  2.94  2.85  2.71  2.45 
Short-term borrowings 6.52  6.31  5.95  5.84  7.60 
Long-term debt 6.19  6.28  6.30  6.46  6.27 
Total interest-bearing liabilities 3.32  3.34  3.23  3.09  2.88 
Net interest rate spread 2.30  2.28  2.31  2.38  2.51 
Impact of noninterest-bearing funds on margin 0.68  0.71  0.70  0.69  0.69 
Net interest margin 2.98  % 2.99  % 3.01  % 3.07  % 3.20  %
Commercial Loan Derivative Impact
(Unaudited)
Quarterly Average Rates
September 30, June 30, March 31, December 31, September 30,
Fully-taxable equivalent basis (1) 2024 2024 2024 2023 2023
Commercial loans (2)(4) 7.21  % 7.29  % 7.22  % 7.14  % 7.09  %
Impact of commercial loan derivatives (0.68) (0.73) (0.73) (0.75) (0.70)
Total commercial - as reported 6.53  % 6.56  % 6.49  % 6.39  % 6.39  %
Average SOFR 5.28  % 5.32  % 5.32  % 5.32  % 5.23  %
(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.
9

Huntington Bancshares Incorporated
Selected Quarterly Income Statement Data
(Unaudited)
Three Months Ended
(dollar amounts in millions, except per share data) September 30, June 30, March 31, December 31, September 30,
2024 2024 2024 2023 2023
Interest income
 $ 2,555  $ 2,476  $ 2,380  $ 2,350  $ 2,313 
Interest expense
 1,204  1,164  1,093  1,034  945 
Net interest income 1,351  1,312  1,287  1,316  1,368 
Provision for credit losses 106  100  107  126  99 
Net interest income after provision for credit losses 1,245  1,212  1,180  1,190  1,269 
Payments and cash management revenue 158  154  146  150  152 
Wealth and asset management revenue 93  90  88  86  79 
Customer deposit and loan fees 86  83  77  80  80 
Capital markets and advisory fees 78  73  56  69  52 
Leasing revenue 19  19  22  29  32 
Mortgage banking income 38  30  31  23  27 
Insurance income 18  18  19  19  18 
Bank owned life insurance income 20  17  16  16  18 
Gain on sale of loans 7  2  5  1  2 
Net gains (losses) on sales of securities —  —  —  (3) — 
Other noninterest income 6  5  7  (65) 49 
Total noninterest income
 523  491  467  405  509 
Personnel costs 684  663  639  645  622 
Outside data processing and other services 167  165  166  157  149 
Deposit and other insurance expense 15  25  54  234  25 
Equipment 65  62  70  70  65 
Net occupancy 57  51  57  65  67 
Marketing 33  27  28  29  29 
Professional services 21  26  25  35  27 
Amortization of intangibles 11  12  12  12  12 
Lease financing equipment depreciation 4  4  4  5  6 
Other noninterest expense 73  82  82  96  88 
Total noninterest expense
 1,130  1,117  1,137  1,348  1,090 
Income before income taxes 638  586  510  247  688 
Provision (benefit) for income taxes
 116  106  86  (1) 136 
Income after income taxes 522  480  424  248  552 
Income attributable to non-controlling interest 5  6  5  5  5 
Net income attributable to Huntington 517  474  419  243  547 
Dividends on preferred shares 36  35  36  36  37 
Impact of preferred stock repurchases
 —  —  —  (8) — 
Net income applicable to common shares $ 481  $ 439  $ 383  $ 215  $ 510 
Average common shares - basic
 1,453  1,451  1,448  1,448  1,448 
Average common shares - diluted
1,477  1,474  1,473  1,469  1,468 
Per common share
Net income - basic $ 0.33  $ 0.30  $ 0.26  $ 0.15  $ 0.35 
Net income - diluted 0.33  0.30  0.26  0.15  0.35 
Cash dividends declared
 0.155  0.155  0.155  0.155  0.155 
Revenue - fully-taxable equivalent (FTE)
Net interest income
 $ 1,351  $ 1,312  $ 1,287  $ 1,316  $ 1,368 
FTE adjustment
 13  13  13  11  11 
Net interest income (1)
 1,364  1,325  1,300  1,327  1,379 
Noninterest income
 523  491  467  405  509 
Total revenue (1)
 $ 1,887  $ 1,816  $ 1,767  $ 1,732  $ 1,888 
(1)On a fully-taxable equivalent (FTE) basis assuming a 21% tax rate.
10

Huntington Bancshares Incorporated
Quarterly Mortgage Banking Noninterest Income
(Unaudited)
Three Months Ended
September 30, June 30, March 31, December 31, September 30,
Percent Changes vs.
(dollar amounts in millions)
 2024 2024 2024 2023 2023 2Q24 3Q23
Net origination and secondary marketing income $ 25  $ 17  $ 16  $ 12  $ 18  47  % 39  %
Net mortgage servicing income
Loan servicing income
 25  25  25  24  24  —  4 
Amortization of capitalized servicing
 (14) (14) (11) (13) (13) —  (8)
Operating income
 11  11  14  11  11  —  — 
MSR valuation adjustment (1)
 (25) 11  20  (34) 38  (327) (166)
(Losses) gains due to MSR hedging
 27  (10) (19) 34  (38) 370  171 
Net MSR risk management
2  1  1  —  —  100  100 
Total net mortgage servicing income $ 13  $ 12  $ 15  $ 11  $ 11  8  % 18  %
All other —  1  —  —  (2) (100) 100 
Mortgage banking income $ 38  $ 30  $ 31  $ 23  $ 27  27  % 41  %
Mortgage origination volume $ 1,883  $ 2,164  $ 1,276  $ 1,666  $ 2,020  (13) % (7) %
Mortgage origination volume for sale 1,194  1,191  834  962  1,195  —  — 
Third party mortgage loans serviced (2) 33,565  33,404  33,303  33,237  32,965  —  2 
Mortgage servicing rights (2) 515  543  534  515  547  (5) (6)
MSR % of investor servicing portfolio (2) 1.53  % 1.63  % 1.60  % 1.55  % 1.66  % (6) % (8) %
(1)The change in fair value for the period represents the MSR valuation adjustment, net of amortization of capitalized servicing.
(2)At period end.
11

Huntington Bancshares Incorporated
Quarterly Credit Reserves Analysis
(Unaudited)
Three Months Ended
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2024 2024 2024 2023 2023
Allowance for loan and lease losses, beginning of period $ 2,304  $ 2,280  $ 2,255  $ 2,208  $ 2,177 
Loan and lease charge-offs (129) (145) (128) (132) (131)
Recoveries of loans and leases previously charged-off 36  55  36  38  58 
Net loan and lease charge-offs (93) (90) (92) (94) (73)
Provision for loan and lease losses 24  114  117  141  104 
Allowance for loan and lease losses, end of period 2,235  2,304  2,280  2,255  2,208 
Allowance for unfunded lending commitments, beginning of period 119  135  145  160  165 
Provision for unfunded lending commitments 82  (16) (10) (15) (5)
Allowance for unfunded lending commitments, end of period 201  119  135  145  160 
Total allowance for credit losses, end of period $ 2,436  $ 2,423  $ 2,415  $ 2,400  $ 2,368 
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases 1.77  % 1.85  % 1.86  % 1.85  % 1.83  %
Nonaccrual loans and leases (NALs) 303  314  318  338  373 
Nonperforming assets (NPAs) 285  296  309  317  348 
Total allowance for credit losses (ACL) as % of:
Total loans and leases 1.93  % 1.95  % 1.97  % 1.97  % 1.96  %
Nonaccrual loans and leases (NALs) 330  331  337  360  400 
Nonperforming assets (NPAs) 311  311  327  337  373 

September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2024 2024 2024 2023 2023
Allocation of allowance for credit losses
Commercial
Commercial and industrial $ 937  $ 995  $ 974  $ 993  $ 973 
Commercial real estate 510  542  564  522  483 
Lease financing 51  50  51  48  48 
Total commercial 1,498  1,587  1,589  1,563  1,504 
Consumer
Residential mortgage 193  199  163  188  200 
Automobile 138  127  146  142  143 
Home equity 149  142  137  114  115 
RV and marine 150  146  148  148  151 
Other consumer 107  103  97  100  95 
Total consumer 737  717  691  692  704 
Total allowance for loan and lease losses 2,235  2,304  2,280  2,255  2,208 
Allowance for unfunded lending commitments 201  119  135  145  160 
Total allowance for credit losses $ 2,436  $ 2,423  $ 2,415  $ 2,400  $ 2,368 


12

Huntington Bancshares Incorporated
Quarterly Net Charge-Off Analysis
(Unaudited)
Three Months Ended
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2024 2024 2024 2023 2023
Net charge-offs (recoveries) by loan and lease type:
Commercial:
Commercial and industrial $ 51  $ 21  $ 42  $ 39  $ 32 
Commercial real estate 5  36  13  21  11 
Lease financing (2) —  —  (3) 2 
Total commercial 54  57  55  57  45 
Consumer:
Residential mortgage —  1  —  —  1 
Automobile 8  6  9  9  4 
Home equity (1) —  —  —  — 
RV and marine 6  4  5  5  3 
Other consumer 26  22  23  23  20 
Total consumer 39  33  37  37  28 
Total net charge-offs $ 93  $ 90  $ 92  $ 94  $ 73 
Three Months Ended
September 30, June 30, March 31, December 31, September 30,
2024 2024 2024 2023 2023
Net charge-offs (recoveries) - annualized percentages:
Commercial:
Commercial and industrial 0.39  % 0.16  % 0.33  % 0.32  % 0.26  %
Commercial real estate 0.17  1.19  0.41  0.65  0.35 
Lease financing (0.18) 0.02  0.01  (0.24) 0.12 
Total commercial 0.31  0.33  0.32  0.34  0.27 
Consumer:
Residential mortgage —  0.01  —  0.01  0.01 
Automobile 0.24  0.20  0.27  0.27  0.14 
Home equity (0.02) (0.01) 0.01  0.01  (0.01)
RV and marine 0.37  0.25  0.36  0.34  0.16 
Other consumer 6.38  5.98  6.39  6.48  6.09 
Total consumer 0.28  0.24  0.28  0.28  0.21 
Net charge-offs as a % of average loans and leases 0.30  % 0.29  % 0.30  % 0.31  % 0.24  %

13

Huntington Bancshares Incorporated
Quarterly Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs) (1)
(Unaudited)
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2024 2024 2024 2023 2023
Nonaccrual loans and leases (NALs):
Commercial and industrial $ 408  $ 346  $ 376  $ 344  $ 314 
Commercial real estate 132  194  154  140  102 
Lease financing 9  13  10  14  14 
Residential mortgage 82  80  75  72  75 
Automobile 5  4  4  4  4 
Home equity 100  95  96  91  82 
RV and marine 2  1  1  2  1 
Total nonaccrual loans and leases 738  733  716  667  592 
Other real estate, net 8  10  10  10  14 
Other NPAs (1) 38  37  12  34  28 
Total nonperforming assets $ 784  $ 780  $ 738  $ 711  $ 634 
Nonaccrual loans and leases as a % of total loans and leases 0.58  % 0.59  % 0.58  % 0.55  % 0.49  %
NPA ratio (2) 0.62  0.63  0.60  0.58  0.52 
(NPA+90days)/(Loan+OREO) (3) 0.80  0.77  0.75  0.74  0.66 
Three Months Ended
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2024 2024 2024 2023 2023
Nonperforming assets, beginning of period $ 780  $ 738  $ 711  $ 634  $ 557 
New nonperforming assets 254  316  263  300  252 
Returns to accruing status (55) (55) (68) (47) (23)
Charge-offs (53) (82) (64) (73) (62)
Payments (139) (135) (102) (98) (85)
Sales (3) (2) (2) (5) (5)
Nonperforming assets, end of period $ 784  $ 780  $ 738  $ 711  $ 634 
(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.

14

Huntington Bancshares Incorporated
Quarterly Accruing Past Due Loans and Leases
(Unaudited)
  September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2024 2024 2024 2023 2023
Accruing loans and leases past due 90+ days:
Commercial and industrial $ 6  $ 1  $ 1  $ 1  $ — 
Lease financing 16  4  3  4  7 
Residential mortgage (excluding loans guaranteed by the U.S. Government) 28  22  26  27  22 
Automobile 10  8  8  9  8 
Home equity 20  18  17  22  19 
RV and marine 3  3  2  3  2 
Other consumer 5  3  4  4  3 
Total, excl. loans guaranteed by the U.S. Government 88  59  61  70  61 
Add: loans guaranteed by U.S. Government 136  116  122  119  102 
Total accruing loans and leases past due 90+ days, including loans guaranteed by the U.S. Government $ 224  $ 175  $ 183  $ 189  $ 163 
Ratios:
Excluding loans guaranteed by the U.S. Government, as a percent of total loans and leases 0.07  % 0.05  % 0.05  % 0.06  % 0.05  %
Guaranteed by U.S. Government, as a percent of total loans and leases 0.11  0.09  0.10  0.10  0.08 
Including loans guaranteed by the U.S. Government, as a percent of total loans and leases 0.18  0.14  0.15  0.15  0.14 

15

Huntington Bancshares Incorporated
Quarterly Capital Under Current Regulatory Standards (Basel III) and Other Capital Data
(Unaudited)
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2024 2024 2024 2023 2023
Common equity tier 1 risk-based capital ratio: (1)
Total Huntington shareholders’ equity $ 20,606  $ 19,515  $ 19,322  $ 19,353  $ 18,483 
Regulatory capital adjustments:
CECL transitional amount (2) 109  109  109  219  219 
Shareholders’ preferred equity and related surplus (2,404) (2,404) (2,404) (2,404) (2,494)
Accumulated other comprehensive loss 2,104  2,911  2,879  2,676  3,622 
Goodwill and other intangibles, net of taxes (5,546) (5,561) (5,575) (5,591) (5,605)
Deferred tax assets from tax loss and credit carryforwards (66) (49) (48) (41) (14)
Common equity tier 1 capital 14,803  14,521  14,283  14,212  14,211 
Additional tier 1 capital
Shareholders’ preferred equity and related surplus 2,404  2,404  2,404  2,404  2,494 
Tier 1 capital 17,207  16,925  16,687  16,616  16,705 
Long-term debt and other tier 2 qualifying instruments 1,119  1,278  1,279  1,306  1,383 
Qualifying allowance for loan and lease losses 1,784  1,743  1,747  1,735  1,758 
Tier 2 capital 2,903  3,021  3,026  3,041  3,141 
Total risk-based capital $ 20,110  $ 19,946  $ 19,713  $ 19,657  $ 19,846 
Risk-weighted assets (RWA)(1) $ 142,543  $ 139,374  $ 139,622  $ 138,706  $ 140,688 
Common equity tier 1 risk-based capital ratio (1) 10.4  % 10.4  % 10.2  % 10.2  % 10.1  %
Other regulatory capital data:
Tier 1 leverage ratio (1) 8.8  8.8  8.9  9.3  9.4 
Tier 1 risk-based capital ratio (1) 12.1  12.1  12.0  12.0  11.9 
Total risk-based capital ratio (1) 14.1  14.3  14.1  14.2  14.1 
Non-regulatory capital data:
Tangible common equity / RWA ratio (1) 8.8  8.2  8.1  8.1  7.3 
Reconciliation of Non-GAAP Measure (3)
Common equity tier 1 (CET1) capital (A)
 $ 14,803  $ 14,521  $ 14,283  $ 14,212  $ 14,211 
Add: Accumulated other comprehensive income (loss) (AOCI)
 (2,104) (2,911) (2,879) (2,676) (3,622)
Less: AOCI cash flow hedge
 (39) (399) (436) (363) (662)
Adjusted common equity tier 1 (B)
 12,738  12,009  11,840  11,899  11,251 
Risk weighted assets (C)
 142,543  139,374  139,622  138,706  140,688 
CET1 ratio (A/C)
 10.4  % 10.4  % 10.2  % 10.2  % 10.1  %
Adjusted CET1 ratio (B/C)
 8.9  8.6  8.5  8.6  8.0 
(1)September 30, 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 September 30, 2024, June 30, 2024, and March 31, 2024, 75% of the cumulative CECL deferral has been phased in. As of December 31, 2023 and September 30, 2023, 50% of the cumulative CECL deferral has been phased in.
(3)Huntington believes certain non-GAAP financial measures to be helpful in understanding Huntington’s results of operations. The following provides the comparable regulatory financial measure, as well as the reconciliation to the comparable regulatory financial measure.
16

Huntington Bancshares Incorporated
Quarterly Common Stock Summary, Non-Regulatory Capital, and Other Data
(Unaudited)
Quarterly common stock summary
September 30, June 30, March 31, December 31, September 30,
2024 2024 2024 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
1,453  1,451  1,448  1,448  1,448 
Average - diluted
1,477  1,474  1,473  1,469  1,468 
Ending
1,453  1,452  1,449  1,448  1,448 
Tangible book value per common share (1) $ 8.65  $ 7.89  $ 7.77  $ 7.79  $ 7.12 

Non-regulatory capital
September 30, June 30, March 31, December 31, September 30,
(dollar amounts in millions) 2024 2024 2024 2023 2023
Calculation of tangible equity / asset ratio:
Total Huntington shareholders’ equity $ 20,606  $ 19,515  $ 19,322  $ 19,353  $ 18,483 
Goodwill and other intangible assets (5,669) (5,680) (5,692) (5,704) (5,716)
Deferred tax liability on other intangible assets (1) 23  25  28  30  33 
Total tangible equity
 14,960  13,860  13,658  13,679  12,800 
Preferred equity (2,394) (2,394) (2,394) (2,394) (2,484)
Total tangible common equity
 $ 12,566  $ 11,466  $ 11,264  $ 11,285  $ 10,316 
Total assets
 $ 200,535  $ 196,310  $ 193,519  $ 189,368  $ 186,650 
Goodwill and other intangible assets (5,669) (5,680) (5,692) (5,704) (5,716)
Deferred tax liability on other intangible assets (1) 23  25  28  30  33 
Total tangible assets
 $ 194,889  $ 190,655  $ 187,855  $ 183,694  $ 180,967 
Tangible equity / tangible asset ratio
 7.7  % 7.3  % 7.3  % 7.4  % 7.1  %
Tangible common equity / tangible asset ratio
 6.4  % 6.0  % 6.0  % 6.1  % 5.7  %
Other data:
Number of employees (Average full-time equivalent)
 20,043  19,889  19,719  19,612  19,826 
Number of domestic full-service branches (2)
 975  972  969  999  1,001 
ATM Count
 1,585  1,603  1,606  1,630  1,631 
(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.


17

Huntington Bancshares Incorporated
Consolidated Year To Date Average Balance Sheets
(Unaudited)
YTD Average Balances (1)
Nine Months Ended September 30,
Change
(dollar amounts in millions)
 2024 2023
Amount
Percent
Assets
Interest-earning deposits with banks $ 11,141  $ 9,071  $ 2,070  23  %
Securities:
Trading account securities
 137  61  76  NM
Available-for-sale securities:
Taxable
 24,049  20,702  3,347  16 
Tax-exempt
 2,686  2,731  (45) (2)
Total available-for-sale securities
 26,735  23,433  3,302  14 
Held-to-maturity securities - taxable
 15,285  16,696  (1,411) (8)
Other securities 777  1,003  (226) (23)
Total securities
 42,934  41,193  1,741  4 
Loans held for sale
 569  548  21  4 
Loans and leases: (2)
Commercial:
Commercial and industrial 51,517  49,559  1,958  4 
Commercial real estate:
Commercial 11,148  11,987  (839) (7)
Construction 1,007  1,336  (329) (25)
Commercial real estate 12,155  13,323  (1,168) (9)
Lease financing 5,111  5,137  (26) (1)
Total commercial 68,783  68,019  764  1 
Consumer:
Residential mortgage 23,898  22,793  1,105  5 
Automobile 13,044  12,971  73  1 
Home equity 10,072  10,173  (101) (1)
RV and marine 5,968  5,554  414  7 
Other consumer 1,511  1,341  170  13 
Total consumer 54,493  52,832  1,661  3 
Total loans and leases
 123,276  120,851  2,425  2 
Total earning assets
 177,920  171,663  6,257  4 
Cash and due from banks
 1,413  1,598  (185) (12)
Goodwill and other intangible assets 5,686  5,738  (52) (1)
All other assets
 11,671  10,594  1,077  10 
Allowance for loan and lease losses
 (2,295) (2,174) (121) (6)
Total assets
 $ 194,395  $ 187,419  $ 6,976  4  %
Liabilities and shareholders' equity
Interest-bearing deposits:
Demand deposits - interest-bearing
 $ 39,501  $ 40,058  $ (557) (1) %
Money market deposits 48,240  39,181  9,059  23 
Savings and other domestic deposits
 16,281  18,818  (2,537) (13)
Core certificates of deposit (3)
 13,905  8,659  5,246  61 
Other domestic deposits of $250,000 or more
 455  326  129  40 
Negotiable CDS, brokered and other deposits
 5,783  4,650  1,133  24 
Total interest-bearing deposits
 124,165  111,692  12,473  11 
Short-term borrowings
 1,112  3,478  (2,366) (68)
Long-term debt
 14,936  13,700  1,236  9 
Total interest-bearing liabilities
 140,213  128,870  11,343  9 
Demand deposits - noninterest-bearing
 29,444  34,933  (5,489) (16)
All other liabilities
 5,160  4,960  200  4 
Total Liabilities 174,817  168,763  6,054  4 
Total Huntington shareholders’ equity 19,529  18,607  922  5 
Non-controlling interest 49  49  —  — 
Total equity $ 19,578  $ 18,656  $ 922  5 
Total liabilities and equity $ 194,395  $ 187,419  $ 13,030  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.
18

Huntington Bancshares Incorporated
Consolidated Year To Date Net Interest Margin - Interest Income / Expense (1)(2)
(Unaudited)
YTD Interest Income / Expense
Nine Months Ended September 30,
(dollar amounts in millions)
 2024 2023
Assets
Interest-earning deposits with banks
 $ 462  $ 353 
Securities:
Trading account securities
 5  2 
Available-for-sale securities:
Taxable
 949  743 
Tax-exempt
 103  99 
Total available-for-sale securities
 1,052  842 
Held-to-maturity securities - taxable
 281  303 
Other securities 30  40 
Total securities
 1,368  1,187 
Loans held for sale
 29  25 
Loans and leases:
Commercial:
Commercial and industrial 2,470  2,208 
Commercial real estate:
Commercial 636  649 
Construction 64  80 
Commercial real estate 700  729 
Lease financing 247  212 
Total commercial 3,417  3,149 
Consumer:
Residential mortgage 700  603 
Automobile 521  408 
Home equity 590  563 
RV and marine 229  194 
Other consumer 134  115 
Total consumer 2,174  1,883 
Total loans and leases
 5,591  5,032 
Total earning assets
 $ 7,450  $ 6,597 
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing
 $ 634  $ 498 
Money market deposits 1,306  754 
Savings and other domestic deposits
 35  15 
Core certificates of deposit (3)
 491  245 
Other domestic deposits of $250,000 or more
 15  8 
Negotiable CDS, brokered and other deposits
 228  169 
Total interest-bearing deposits
 2,709  1,689 
Short-term borrowings
 52  151 
Long-term debt
 700  603 
Total interest-bearing liabilities
 3,461  2,443 
Net interest income
 $ 3,989  $ 4,154 
(1)Fully-taxable equivalent (FTE) income and expense calculated assuming a 21% tax rate. See page 21 for the FTE adjustment.
(2)Amounts include the effects of hedge and risk management activities associated with the respective asset and liability categories.
(3)Includes consumer certificates of deposit of $250,000 or more.
19

Huntington Bancshares Incorporated
Consolidated Year To Date Net Interest Margin - Yield
(Unaudited)
YTD Average Rates
Nine Months Ended September 30,
Fully-taxable equivalent basis (1) 2024 2023
Assets
Interest-earning deposits with banks 5.53  % 5.19  %
Securities:
Trading account securities
 4.52  4.98 
Available-for-sale securities:
Taxable
 5.26  4.79 
Tax-exempt
 5.12  4.79 
Total available-for-sale securities
 5.25  4.79 
Held-to-maturity securities - taxable
 2.45  2.42 
Other securities 5.09  5.37 
Total securities
 4.25  3.84 
Loans held for sale
 6.77  6.13 
Loans and leases: (2)
Commercial:
Commercial and industrial 6.30  5.88 
Commercial real estate:
Commercial 7.50  7.14 
Construction 8.37  7.88 
Commercial real estate 7.57  7.21 
Lease financing 6.35  5.44 
Total commercial 6.53  6.10 
Consumer:
Residential mortgage 3.91  3.53 
Automobile 5.33  4.20 
Home equity 7.83  7.40 
RV and marine 5.13  4.67 
Other consumer 11.78  11.49 
Total consumer 5.33  4.76 
Total loans and leases
 6.00  5.52 
Total earning assets
 5.59  % 5.14  %
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing
 2.14  % 1.66  %
Money market deposits 3.61  2.57 
Savings and other domestic deposits
 0.29  0.11 
Core certificates of deposit (3)
 4.72  3.79 
Other domestic deposits of $250,000 or more
 4.33  3.27 
Negotiable CDS, brokered and other deposits
 5.27  4.85 
Total interest-bearing deposits
 2.91  2.02 
Short-term borrowings
 6.22  5.80 
Long-term debt
 6.25  5.87 
Total interest-bearing liabilities
 3.30  2.53 
Net interest rate spread
 2.29  2.61 
Impact of noninterest-bearing funds on margin
 0.71  0.63 
Net interest margin
 3.00  % 3.24  %
Commercial Loan Derivative Impact
 (Unaudited)
YTD Average Rates
Nine Months Ended September 30,
Fully-taxable equivalent basis (1)
 2024 2023
Commercial loans (2)(4)
 7.25  % 6.77  %
Impact of commercial loan derivatives
 (0.72) (0.67)
Total commercial - as reported
 6.53  % 6.10  %
Average SOFR 5.30  % 4.90  %
(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.
20

Huntington Bancshares Incorporated
Selected Year To Date Income Statement Data
(Unaudited)
Nine Months Ended September 30, Change
(dollar amounts in millions, except per share data) 2024 2023 Amount Percent
Interest income $ 7,411  $ 6,566  $ 845  13  %
Interest expense 3,461  2,443  1,018  42 
Net interest income 3,950  4,123  (173) (4)
Provision for credit losses 313  276  37  13 
Net interest income after provision for credit losses 3,637  3,847  (210) (5)
Payments and cash management revenue 458  435  23  5 
Wealth and asset management revenue 271  242  29  12 
Customer deposit and loan fees 246  232  14  6 
Capital markets and advisory fees 207  179  28  16 
Leasing revenue 60  83  (23) (28)
Mortgage banking income 99  86  13  15 
Insurance income 55  55  —  — 
Bank owned life insurance income 53  50  3  6 
Gain on sale of loans 14  13  1  8 
Net gains (losses) on sales of securities —  (4) 4  100 
Other noninterest income 18  145  (127) (88)
Total noninterest income 1,481  1,516  (35) (2)
Personnel costs 1,986  1,884  102  5 
Outside data processing and other services 498  448  50  11 
Deposit and other insurance expense 94  68  26  38 
Equipment 197  193  4  2 
Net occupancy 165  181  (16) (9)
Marketing 88  86  2  2 
Professional services 72  64  8  13 
Amortization of intangibles 35  38  (3) (8)
Lease financing equipment depreciation 12  22  (10) (45)
Other noninterest expense 237  242  (5) (2)
Total noninterest expense 3,384  3,226  158  5 
Income before income taxes 1,734  2,137  (403) (19)
Provision for income taxes 308  414  (106) (26)
Income after income taxes 1,426  1,723  (297) (17)
Income attributable to non-controlling interest 16  15  1  7 
Net income attributable to Huntington 1,410  1,708  (298) (17)
Dividends on preferred shares 107  106  1  1 
Net income applicable to common shares $ 1,303  $ 1,602  $ (299) (19) %
Average common shares - basic 1,451  1,446  5  — 
Average common shares - diluted 1,475  1,468  7  — 
Per common share
Net income - basic $ 0.90  $ 1.11  $ (0.21) (19) %
Net income - diluted 0.88  1.09  (0.21) (19)
Cash dividends declared 0.47  0.47  —  — 
Revenue - fully taxable equivalent (FTE)
Net interest income $ 3,950  $ 4,123  $ (173) (4) %
FTE adjustment 39  31  8  26 
Net interest income (1) 3,989  4,154  (165) (4)
Noninterest income 1,481  1,516  (35) (2)
Total revenue (1) $ 5,470  $ 5,670  $ (200) (4) %
(1)On a fully-taxable equivalent (FTE) basis assuming a 21% tax rate.
21

Huntington Bancshares Incorporated
Year To Date Mortgage Banking Noninterest Income
(Unaudited)
Nine Months Ended September 30, Change
(dollar amounts in millions) 2024 2023 Amount Percent
Net origination and secondary marketing income $ 58  $ 57  $ 1  2  %
Net mortgage servicing income
          Loan servicing income 75  70  5  7 
          Amortization of capitalized servicing (39) (35) (4) (11)
     Operating income 36  35  1  3 
          MSR valuation adjustment (1) 6  41  (35) (85)
          (Losses) gains due to MSR hedging (2) (44) 42  95 
     Net MSR risk management 4  (3) 7  — 
Total net mortgage servicing income 40  32  8  25 
All other 1  (3) 4  133 
Mortgage banking income $ 99  $ 86  $ 13  15  %
Mortgage origination volume $ 5,323  $ 5,936  $ (613) (10) %
Mortgage origination volume for sale 3,219  3,243  (24) (1)
Third party mortgage loans serviced (2) 33,565  32,965  600  2 
Mortgage servicing rights (2) 515  547  (32) (6)
MSR % of investor servicing portfolio (2) 1.53  % 1.66  % (0.13) % (8) %
(1)The change in fair value for the period represents the MSR valuation adjustment, net of amortization of capitalized servicing.
(2)At period end.
22

Huntington Bancshares Incorporated
Year To Date Credit Reserves Analysis
(Unaudited)
Nine Months Ended September 30,
(dollar amounts in millions)
 2024 2023
Allowance for loan and lease losses, beginning of period
 $ 2,255  $ 2,121 
Loan and lease charge-offs (402) (322)
Recoveries of loans and leases previously charged off 127  143 
Net loan and lease charge-offs (275) (179)
Provision for loan and lease losses
 255  266 
Allowance for loan and lease losses, end of period
 2,235  2,208 
Allowance for unfunded lending commitments, beginning of period $ 145  $ 150 
Provision for unfunded lending commitments 56  10 
Allowance for unfunded lending commitments, end of period 201  160 
Total allowance for credit losses, end of period $ 2,436  $ 2,368 
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases
 1.77  % 1.83  %
Nonaccrual loans and leases (NALs)
 303  373 
Nonperforming assets (NPAs)
 285  348 
Total allowance for credit losses (ACL) as % of:
Total loans and leases
 1.93  % 1.96  %
Nonaccrual loans and leases (NALs) 330  400 
Nonperforming assets (NPAs) 311  373 
23

Huntington Bancshares Incorporated
Year To Date Net Charge-Off Analysis
(Unaudited)
Nine Months Ended September 30,
(dollar amounts in millions) 2024 2023
Net charge-offs (recoveries) by loan and lease type:
Commercial:
Commercial and industrial $ 114  $ 68 
Commercial real estate 54  36 
Lease financing (2) (3)
Total commercial 166  101 
Consumer:
Residential mortgage 1  2 
Automobile 23  12 
Home equity (1) (1)
RV and marine 15  7 
Other consumer 71  58 
Total consumer 109  78 
Total net charge-offs $ 275  $ 179 
Nine Months Ended September 30,
2024 2023
Net charge-offs (recoveries) - annualized percentages:
Commercial:
Commercial and industrial 0.29  % 0.18  %
Commercial real estate 0.59  0.37 
Lease financing (0.05) (0.08)
Total commercial 0.32  0.20 
Consumer:
Residential mortgage —  0.01 
Automobile 0.24  0.13 
Home equity —  (0.02)
RV and marine 0.33  0.16 
Other consumer 6.25  5.88 
Total consumer 0.27  0.20 
Net charge-offs as a % of average loans 0.30  % 0.20  %

24

Huntington Bancshares Incorporated
Year To Date Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)
(Unaudited)
September 30,
(dollar amounts in millions) 2024 2023
Nonaccrual loans and leases (NALs):
Commercial and industrial $ 408  $ 314 
Commercial real estate 132  102 
Lease financing 9  14 
Residential mortgage 82  75 
Automobile 5  4 
Home equity 100  82 
RV and marine 2  1 
Total nonaccrual loans and leases 738  592 
Other real estate, net 8  14 
Other NPAs (1) 38  28 
Total nonperforming assets (2)
 $ 784  $ 634 
Nonaccrual loans and leases as a % of total loans and leases 0.58  % 0.49  %
NPA ratio (3)
 0.62  0.52 
Nine Months Ended September 30,
(dollar amounts in millions) 2024 2023
Nonperforming assets, beginning of period $ 711  $ 594 
New nonperforming assets 833  677 
Returns to accruing status (178) (130)
Charge-offs (199) (158)
Payments (375) (327)
Sales
 (8) (22)
Nonperforming assets, end of period (3)
 $ 784  $ 634 
(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.
25