Document

Exhibit 99.2

HUNTINGTON BANCSHARES INCORPORATED

Quarterly Financial Supplement

December 31, 2024

Table of Contents


Quarterly Key Statistics			1

Year to Date Key Statistics			2

Consolidated Balance Sheets			4

Loans and Leases Composition			5

Deposits Composition			6

Consolidated Quarterly Average Balance Sheets			7

Consolidated Quarterly Net Interest Margin - Interest Income / Expense			8

Consolidated Quarterly Net Interest Margin - Yield			9

Selected Quarterly Income Statement Data			10

Quarterly Mortgage Banking Noninterest Income			11

Quarterly Credit Reserves Analysis			12

Quarterly Net Charge-Off Analysis			13

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

Quarterly Accruing Past Due Loans and Leases			15

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

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





















Consolidated Annual Average Balance Sheets			18

Consolidated Annual Net Interest Margin - Interest Income / Expense			19

Consolidated Annual Net Interest Margin - Yield			20

Selected Annual Income Statement Data			21

Annual Mortgage Banking Noninterest Income			22

Annual Credit Reserves Analysis			23

Annual Net Charge-Off Analysis			24

Annual Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)			25

Notes:

The preparation of financial statement data in conformity with accounting principles generally accepted in the United States (GAAP) requires management to make estimates and assumptions that affect amounts reported. Actual results could differ from those estimates.

During the fourth quarter 2024, Huntington updated the presentation of our reported deposit categories to align more closely with how we strategically manage our business. As a result, we now report our deposit composition in the following categories: (1) demand deposits - noninterest bearing, (2) demand deposits - interest bearing, (3) money market, (4) savings, and (5) time deposits. Prior period results have been adjusted to conform to the current presentation.

Non-GAAP Financial Measures

This document contains GAAP financial measures and non-GAAP financial measures where management believes it to be helpful in understanding our results of operations or financial position. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found herein.

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,

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

•Adjusted common equity tier 1 (CET1).

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. The tangible common equity 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. The adjusted CET1 ratio differs from the defined CET1 regulatory capital ratio the Company is subject to by including the impact of accumulated other comprehensive income (loss) (AOCI) excluding cash flow hedges in the calculation of the capital ratio. 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)	December 31,			September 30,			December 31,			Percent Changes vs.
	2024			2024			2023			3Q24		4Q23
Net interest income (1)	$	1,409		$	1,364		$	1,327		3	%	6	%
FTE adjustment	(14)			(13)			(11)			(8)		(27)
Net interest income	1,395			1,351			1,316			3		6
Provision for credit losses	107			106			126			1		(15)
Noninterest income	559			523			405			7		38
Noninterest expense	1,178			1,130			1,348			4		(13)
Income before income taxes	669			638			247			5		171
Provision (benefit) for income taxes	135			116			(1)			16		NM
Income after income taxes	534			522			248			2		115
Income attributable to non-controlling interest	4			5			5			(20)		(20)
Net income attributable to Huntington	530			517			243			3		118
Dividends on preferred shares	27			36			36			NM		NM
Impact of preferred stock redemptions and repurchases	5			—			(8)			NM		NM
Net income applicable to common shares	$	498		$	481		$	215		4	%	132	%

Net income per common share - diluted	$	0.34		$	0.33		$	0.15		3	%	127	%
Cash dividends declared per common share	0.155			0.155			0.155			—		—
Tangible book value per common share at end of period	8.33			8.65			7.79			(4)		7

Average common shares - basic	1,453			1,453			1,448			—		—
Average common shares - diluted	1,481			1,477			1,469			—		1
Ending common shares outstanding	1,454			1,453			1,448			—		—
Return on average assets	1.05		%	1.04		%	0.51		%
Return on average common shareholders’ equity	11.0			10.8			5.2
Return on average tangible common shareholders’ equity (2)	16.4			16.2			8.4
Net interest margin (1)	3.03			2.98			3.07
Efficiency ratio (3)	58.6			59.4			77.0
Effective tax rate	20.1			18.2			(0.5)
Average total assets	$	201,815		$	198,278		$	187,962		2		7
Average earning assets	185,222			181,891			171,360			2		8
Average loans and leases	128,158			124,507			121,229			3		6

Average total deposits	159,405			156,488			149,654			2		7


Average Huntington shareholders’ equity	20,013			20,113			18,713			—		7
Average common shareholders' equity	17,979			17,719			16,275			1		10
Average tangible common shareholders' equity	12,338			12,069			10,597			2		16
Total assets at end of period	204,230			200,535			189,368			2		8
Total Huntington shareholders’ equity at end of period	19,740			20,606			19,353			(4)		2

NCOs as a % of average loans and leases	0.30		%	0.30		%	0.31		%
NAL ratio	0.60			0.58			0.55
NPA ratio (4)	0.63			0.62			0.58
Allowance for loan and lease losses (ALLL) as a % of total loans and leases at the end of period	1.73			1.77			1.85
Allowance for credit losses (ACL) as a % of total loans and leases at the end of period	1.88			1.93			1.97
Common equity tier 1 risk-based capital ratio (5)	10.5			10.4			10.2
Tangible common equity / tangible asset ratio (6)	6.1			6.4			6.1

NM - Not Meaningful

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

Huntington Bancshares Incorporated

Annual Key Statistics

(Unaudited)


	Year Ended December 31,						Change
(dollar amounts in millions, except per share data)	2024			2023			Amount		Percent
Net interest income (1)	$	5,398		$	5,481		$	(83)	(2)	%
FTE adjustment	(53)			(42)			(11)		(26)
Net interest income	5,345			5,439			(94)		(2)
Provision for credit losses	420			402			18		4
Noninterest income	2,040			1,921			119		6
Noninterest expense	4,562			4,574			(12)		—
Income before income taxes	2,403			2,384			19		1
Provision for income taxes	443			413			30		7
Income after income taxes	1,960			1,971			(11)		(1)
Income attributable to non-controlling interest	20			20			—		—
Net income attributable to Huntington	1,940			1,951			(11)		(1)
Dividends on preferred shares	134			142			(8)		(6)
Impact of preferred stock redemptions and repurchases	5			(8)			13		NM
Net income applicable to common shares	$	1,801		$	1,817		$	(16)	(1)	%

Net income per common share - diluted	$	1.22		$	1.24		$	(0.02)	(2)	%
Cash dividends declared per common share	0.62			0.62			—		—

Average common shares - basic	1,451			1,446			5		—
Average common shares - diluted	1,476			1,468			8		1

Return on average assets	0.99		%	1.04		%
Return on average common shareholders’ equity	10.4			11.2
Return on average tangible common shareholders’ equity (2)	15.8			17.6
Net interest margin (1)	3.00			3.19
Efficiency ratio (3)	60.5			61.0
Effective tax rate	18.4			17.3

Average total assets	$	196,260		$	187,556		$	8,704	5	%
Average earning assets	179,756			171,586			8,170		5
Average loans and leases	124,503			120,947			3,556		3
Average total deposits	155,066			147,388			7,678		5

Average Huntington shareholders’ equity	19,651			18,634			1,017		5
Average common shareholders' equity	17,347			16,217			1,130		7
Average tangible common shareholders' equity	11,693			10,521			1,172		11

NCOs as a % of average loans and leases	0.30		%	0.23		%
NAL ratio	0.60			0.55
NPA ratio (4)	0.63			0.58

NM - Not Meaningful

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

Notes to the Quarterly and Year to Date Key Statistics

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

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

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

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

(5)December 31, 2024 figure is estimated.

(6)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


	December 31,		December 31,
(dollar amounts in millions)	2024		2023		Percent Changes
	(Unaudited)
Assets
Cash and due from banks	$	1,685	$	1,558	8	%


Interest-earning deposits with banks	11,647		8,765		33
Trading account securities	53		125		(58)
Available-for-sale securities	27,273		25,305		8
Held-to-maturity securities	16,368		15,750		4


Other securities	823		725		14
Loans held for sale	654		516		27
Loans and leases (1)	130,042		121,982		7
Allowance for loan and lease losses	(2,244)		(2,255)		—
Net loans and leases	127,798		119,727		7
Bank owned life insurance	2,793		2,759		1
Accrued income and other receivables	2,190		1,646		33
Premises and equipment	1,066		1,109		(4)
Goodwill	5,561		5,561		—
Servicing rights and other intangible assets	677		672		1
Other assets	5,642		5,150		10
Total assets	$	204,230	$	189,368	8	%

Liabilities and shareholders' equity
Liabilities
Deposits (2)	$	162,448	$	151,230	7	%
Short-term borrowings	199		620		(68)
Long-term debt	16,374		12,394		32
Other liabilities	5,427		5,726		(5)
Total liabilities	184,448		169,970		9

Shareholders' equity
Preferred stock	1,989		2,394		(17)
Common stock	15		15		—
Capital surplus	15,484		15,389		1
Less treasury shares, at cost	(86)		(91)		5
Accumulated other comprehensive income (loss)	(2,866)		(2,676)		(7)
Retained earnings	5,204		4,322		20
Total Huntington shareholders’ equity	19,740		19,353		2
Non-controlling interest	42		45		(7)
Total equity	19,782		19,398		2
Total liabilities and equity	$	204,230	$	189,368	8	%

Common shares authorized (par value of $0.01)	2,250,000,000		2,250,000,000
Common shares outstanding	1,453,635,809		1,448,319,953
Treasury shares outstanding	6,984,102		7,403,008
Preferred stock, authorized shares	6,617,808		6,617,808
Preferred shares outstanding	877,500		881,587

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

(2)See page 6 for detail of deposits.

Huntington Bancshares Incorporated

Loans and Leases Composition

(Unaudited)


	December 31,				September 30,				June 30,				March 31,				December 31,
(dollar amounts in millions)	2024				2024				2024				2024				2023
Ending balances by type:
Total loans and leases
Commercial:
Commercial and industrial	$	56,809	43	%	$	53,601	43	%	$	52,307	42	%	$	51,500	42	%	$	50,657	42	%
Commercial real estate:
Commercial	10,215		8		10,647		8		10,997		9		11,339		9		11,092		9
Construction	863		1		896		1		936		1		1,003		1		1,330		1
Commercial real estate	11,078		9		11,543		9		11,933		10		12,342		10		12,422		10
Lease financing	5,454		4		5,342		4		5,202		4		5,133		4		5,228		4
Total commercial	73,341		56		70,486		56		69,442		56		68,975		56		68,307		56
Consumer:
Residential mortgage	24,242		19		24,100		19		24,069		19		23,744		20		23,720		20
Automobile	14,564		11		14,003		11		13,233		11		12,662		10		12,482		10
Home equity	10,142		8		10,129		8		10,076		8		10,047		8		10,113		8
RV and marine	5,982		5		6,042		5		6,042		5		5,887		5		5,899		5
Other consumer	1,771		1		1,627		1		1,560		1		1,452		1		1,461		1
Total consumer	56,701		44		55,901		44		54,980		44		53,792		44		53,675		44
Total loans and leases	$	130,042	100	%	$	126,387	100	%	$	124,422	100	%	$	122,767	100	%	$	121,982	100	%

Ending balances by business segment:
Consumer & Regional Banking	$	72,051	56	%	$	70,742	56	%	$	69,328	56	%	$	67,512	55	%	$	67,108	55	%
Commercial Banking	57,858		44		55,441		44		54,941		44		54,994		45		54,743		45



Treasury / Other	133		—		204		—		153		—		261		—		131		—
Total loans and leases	$	130,042	100	%	$	126,387	100	%	$	124,422	100	%	$	122,767	100	%	$	121,982	100	%

Average balances by business segment:
Consumer & Regional Banking	$	71,390	56	%	$	69,759	56	%	$	68,405	56	%	$	67,136	55	%	$	66,638	55	%
Commercial Banking	56,492		44		54,464		44		54,748		44		54,584		45		54,395		45



Treasury / Other	276		—		284		—		223		—		210		—		196		—
Total loans and leases	$	128,158	100	%	$	124,507	100	%	$	123,376	100	%	$	121,930	100	%	$	121,229	100	%

Huntington Bancshares Incorporated

Deposits Composition

(Unaudited)


	December 31,				September 30,				June 30,				March 31,				December 31,
(dollar amounts in millions)	2024				2024				2024				2024				2023
Ending balances by type:
Total deposits
Demand deposits - noninterest-bearing	$	29,345	18	%	$	29,047	18	%	$	28,636	19	%	$	29,739	19	%	$	30,967	20	%
Demand deposits - interest-bearing	43,378		27		42,292		27		40,943		27		39,200		26		39,190		26
Money market deposits	60,730		37		56,434		36		54,469		35		52,897		35		50,185		34
Savings deposits	14,723		9		14,679		9		15,201		10		15,752		10		15,763		10
Time deposits	14,272		9		15,899		10		15,118		9		15,637		10		15,125		10




Total deposits	$	162,448	100	%	$	158,351	100	%	$	154,367	100	%	$	153,225	100	%	$	151,230	100	%






Ending balances by business segment:

Consumer & Regional Banking	$	111,390	69	%	$	110,107	70	%	$	110,913	72	%	$	112,032	73	%	$	110,157	73	%
Commercial Banking	43,366		26		41,597		26		38,110		25		35,619		23		35,466		23


Treasury / Other	7,692		5		6,647		4		5,344		3		5,574		4		5,607		4
Total deposits	$	162,448	100	%	$	158,351	100	%	$	154,367	100	%	$	153,225	100	%	$	151,230	100	%









Average balances by business segment:

Consumer & Regional Banking	$	110,750	70	%	$	109,884	70	%	$	110,819	72	%	$	109,263	73	%	$	108,198	72	%
Commercial Banking	41,741		26		40,153		26		36,765		24		35,656		23		35,886		24


Treasury / Other	6,914		4		6,451		4		5,994		4		5,809		4		5,570		4
Total deposits	$	159,405	100	%	$	156,488	100	%	$	153,578	100	%	$	150,728	100	%	$	149,654	100	%

Huntington Bancshares Incorporated

Consolidated Quarterly Average Balance Sheets

(Unaudited)


	Quarterly Average Balances (1)
	December 31,		September 30,		June 30,		March 31,		December 31,		Percent Changes vs.
(dollar amounts in millions)	2024		2024		2024		2024		2023		3Q24		4Q23
Assets


Interest-earning deposits with banks	$	11,027	$	12,532	$	11,116	$	9,761	$	10,019	(12)	%	10	%
Securities:
Trading account securities	645		136		143		133		125		374		416
Available-for-sale securities:
Taxable	24,778		25,434		24,184		22,515		20,056		(3)		24
Tax-exempt	3,056		2,699		2,684		2,676		2,686		13		14
Total available-for-sale securities	27,834		28,133		26,868		25,191		22,742		(1)		22


Held-to-maturity securities - taxable	16,053		15,078		15,211		15,567		15,947		6		1





Other securities	824		829		776		724		727		(1)		13
Total securities	45,356		44,176		42,998		41,615		39,541		3		15
Loans held for sale	681		676		572		458		571		1		19
Loans and leases: (2)
Commercial:
Commercial and industrial	55,136		52,194		51,724		50,625		49,882		6		11
Commercial real estate:
Commercial	10,461		10,835		11,247		11,365		11,309		(3)		(7)
Construction	818		909		916		1,198		1,285		(10)		(36)
Commercial real estate	11,279		11,744		12,163		12,563		12,594		(4)		(10)
Lease financing	5,424		5,180		5,071		5,081		5,102		5		6
Total commercial	71,839		69,118		68,958		68,269		67,578		4		6
Consumer:
Residential mortgage	24,127		24,074		23,909		23,710		23,573		—		2
Automobile	14,350		13,584		12,989		12,553		12,612		6		14
Home equity	10,134		10,089		10,056		10,072		10,107		—		—
RV and marine	6,009		6,046		5,966		5,892		5,934		(1)		1
Other consumer	1,699		1,596		1,498		1,434		1,425		6		19
Total consumer	56,319		55,389		54,418		53,661		53,651		2		5
Total loans and leases	128,158		124,507		123,376		121,930		121,229		3		6
Total earning assets	185,222		181,891		178,062		173,764		171,360		2		8
Cash and due from banks	1,348		1,407		1,340		1,493		1,508		(4)		(11)
Goodwill and other intangible assets	5,662		5,674		5,685		5,697		5,710		—		(1)


All other assets	$	9,583	$	9,306	$	9,471	$	9,352	$	9,384	3		2
Total assets	$	201,815	$	198,278	$	194,558	$	190,306	$	187,962	2	%	7	%
Liabilities and shareholders' equity
Interest-bearing deposits:
Demand deposits - interest-bearing	$	41,802	$	41,850	$	39,431	$	38,488	$	39,138	—	%	7	%
Money market deposits	58,297		55,599		53,553		51,310		48,759		5		20
Savings deposits	14,648		14,891		15,408		15,625		15,997		(2)		(8)
Time deposits	15,076		15,348		15,556		15,395		14,586		(2)		3




Total interest-bearing deposits	129,823		127,688		123,948		120,818		118,480		2		10
Short-term borrowings	1,249		826		1,214		1,300		1,906		51		(34)
Long-term debt	16,081		15,878		15,146		13,777		12,205		1		32
Total interest-bearing liabilities	147,153		144,392		140,308		135,895		132,591		2		11
Demand deposits - noninterest-bearing	29,582		28,800		29,630		29,910		31,174		3		(5)
All other liabilities	5,020		4,925		5,314		5,239		5,435		2		(8)
Total liabilities	181,755		178,117		175,252		171,044		169,200		2		7
Total Huntington shareholders’ equity	20,013		20,113		19,254		19,213		18,713		—		7
Non-controlling interest	47		48		52		49		49		(2)		(4)
Total equity	20,060		20,161		19,306		19,262		18,762		(1)		7
Total liabilities and equity	$	201,815	$	198,278	$	194,558	$	190,306	$	187,962	2	%	7	%

(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.

Huntington Bancshares Incorporated

Consolidated Quarterly Net Interest Margin - Interest Income / Expense (1)(2)

(Unaudited)


	Quarterly Interest Income / Expense
	December 31,		September 30,		June 30,		March 31,		December 31,
(dollar amounts in millions)	2024		2024		2024		2024		2023
Assets


Interest-earning deposits with banks	$	136	$	174	$	154	$	134	$	139
Securities:
Trading account securities	8		1		2		2		2
Available-for-sale securities:
Taxable	302		331		322		296		273
Tax-exempt	38		35		34		34		33
Total available-for-sale securities	340		366		356		330		306
Held-to-maturity securities - taxable	104		93		93		95		98



Other securities	12		11		10		9		13
Total securities	464		471		461		436		419
Loans held for sale	11		12		10		7		10
Loans and leases:
Commercial:
Commercial and industrial	851		840		829		801		783
Commercial real estate:
Commercial	185		207		214		215		216
Construction	22		20		19		25		27
Commercial real estate	207		227		233		240		243
Lease financing	89		86		82		79		77
Total commercial	1,147		1,153		1,144		1,120		1,103
Consumer:
Residential mortgage	243		241		232		227		222
Automobile	205		191		172		158		153
Home equity	190		199		196		195		197
RV and marine	81		79		76		74		77
Other consumer	47		48		44		42		41
Total consumer	766		758		720		696		690
Total loans and leases	1,913		1,911		1,864		1,816		1,793
Total earning assets	$	2,524	$	2,568	$	2,489	$	2,393	$	2,361

Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	$	209	$	239	$	210	$	200	$	204
Money market deposits	479		521		513		481		446
Savings deposits	6		4		3		2		—
Time deposits	169		181		181		174		158




Total interest-bearing deposits	863		945		907		857		808
Short-term borrowings	17		14		19		19		28
Long-term debt	235		245		238		217		198
Total interest-bearing liabilities	1,115		1,204		1,164		1,093		1,034
Net interest income	$	1,409	$	1,364	$	1,325	$	1,300	$	1,327

(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.

Huntington Bancshares Incorporated

Consolidated Quarterly Net Interest Margin - Yield

(Unaudited)


	Quarterly Average Rates
	December 31,		September 30,		June 30,		March 31,		December 31,
Fully-taxable equivalent basis (1)	2024		2024		2024		2024		2023
Assets


Interest-earning deposits with banks	4.92	%	5.55	%	5.55	%	5.50	%	5.59	%
Securities:
Trading account securities	5.39		3.28		5.10		5.15		5.40
Available-for-sale securities:
Taxable	4.87		5.21		5.33		5.26		5.43
Tax-exempt	5.00		5.23		5.07		5.05		5.01
Total available-for-sale securities	4.89		5.21		5.30		5.24		5.38
Held-to-maturity securities - taxable	2.59		2.47		2.44		2.44		2.45



Other securities	6.01		4.86		5.21		5.23		7.04
Total securities	4.10		4.26		4.29		4.19		4.23
Loans held for sale	6.28		6.92		6.81		6.51		6.95
Loans and leases: (2)
Commercial:
Commercial and industrial	6.05		6.31		6.33		6.26		6.14
Commercial real estate:
Commercial	6.91		7.47		7.53		7.49		7.48
Construction	10.64		8.52		8.41		8.23		8.40
Commercial real estate	7.18		7.55		7.60		7.56		7.57
Lease financing	6.38		6.51		6.41		6.13		5.90
Total commercial	6.25		6.53		6.56		6.49		6.39
Consumer:
Residential mortgage	4.03		4.00		3.89		3.83		3.76
Automobile	5.70		5.59		5.34		5.05		4.82
Home equity	7.42		7.86		7.86		7.77		7.70
RV and marine	5.35		5.24		5.11		5.04		5.13
Other consumer	11.18		11.69		11.75		11.91		11.67
Total consumer	5.42		5.45		5.32		5.20		5.12
Total loans and leases	5.89		6.05		6.01		5.92		5.82
Total earning assets	5.42		5.62		5.62		5.54		5.47
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	1.99		2.28		2.13		2.09		2.06
Money market deposits	3.27		3.73		3.85		3.77		3.63
Savings deposits	0.16		0.12		0.09		0.04		0.02
Time deposits	4.47		4.66		4.70		4.55		4.31




Total interest-bearing deposits	2.65		2.94		2.94		2.85		2.71
Short-term borrowings	5.37		6.52		6.31		5.95		5.84
Long-term debt	5.83		6.19		6.28		6.30		6.46
Total interest-bearing liabilities	3.01		3.32		3.34		3.23		3.09

Net interest rate spread	2.41		2.30		2.28		2.31		2.38
Impact of noninterest-bearing funds on margin	0.62		0.68		0.71		0.70		0.69
Net interest margin	3.03	%	2.98	%	2.99	%	3.01	%	3.07	%


Additional information:
Commercial Loan Derivative Impact



Commercial loans (2)(3)	6.77	%	7.21	%	7.29	%	7.22	%	7.14	%
Impact of commercial loan derivatives	(0.52)		(0.68)		(0.73)		(0.73)		(0.75)
Total commercial - as reported	6.25	%	6.53	%	6.56	%	6.49	%	6.39	%

Average SOFR	4.68	%	5.28	%	5.32	%	5.32	%	5.32	%

Total cost of deposits (4)	2.16	%	2.40	%	2.38	%	2.29	%	2.14	%

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

(2)Includes nonaccrual loans and leases.

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

(4)Includes noninterest-bearing and interest-bearing deposit balances.

Huntington Bancshares Incorporated

Selected Quarterly Income Statement Data

(Unaudited)


	Three Months Ended
(dollar amounts in millions, except per share data)	December 31,		September 30,		June 30,		March 31,		December 31,
	2024		2024		2024		2024		2023
Interest income	$	2,510	$	2,555	$	2,476	$	2,380	$	2,350
Interest expense	1,115		1,204		1,164		1,093		1,034
Net interest income	1,395		1,351		1,312		1,287		1,316
Provision for credit losses	107		106		100		107		126
Net interest income after provision for credit losses	1,288		1,245		1,212		1,180		1,190
Payments and cash management revenue	162		158		154		146		150
Wealth and asset management revenue	93		93		90		88		86
Customer deposit and loan fees	88		86		83		77		80
Capital markets and advisory fees	120		78		73		56		69
Mortgage banking income	31		38		30		31		23
Leasing revenue	19		19		19		22		29
Insurance income	22		18		18		19		19


Net gains (losses) on sales of securities	(21)		—		—		—		(3)
Other noninterest income	45		33		24		28		(48)
Total noninterest income	559		523		491		467		405
Personnel costs	715		684		663		639		645
Outside data processing and other services	167		167		165		166		157
Equipment	70		65		62		70		70
Net occupancy	56		57		51		57		65
Marketing	28		33		27		28		29
Deposit and other insurance expense	20		15		25		54		234
Professional services	27		21		26		25		35
Amortization of intangibles	12		11		12		12		12
Lease financing equipment depreciation	3		4		4		4		5
Other noninterest expense	80		73		82		82		96
Total noninterest expense	1,178		1,130		1,117		1,137		1,348
Income before income taxes	669		638		586		510		247
Provision (benefit) for income taxes	135		116		106		86		(1)
Income after income taxes	534		522		480		424		248
Income attributable to non-controlling interest	4		5		6		5		5
Net income attributable to Huntington	530		517		474		419		243
Dividends on preferred shares	27		36		35		36		36
Impact of preferred stock redemptions and repurchases	5		—		—		—		(8)
Net income applicable to common shares	$	498	$	481	$	439	$	383	$	215

Average common shares - basic	1,453		1,453		1,451		1,448		1,448
Average common shares - diluted	1,481		1,477		1,474		1,473		1,469

Per common share
Net income - basic	$	0.34	$	0.33	$	0.30	$	0.26	$	0.15
Net income - diluted	0.34		0.33		0.30		0.26		0.15
Cash dividends declared	0.155		0.155		0.155		0.155		0.155

Revenue - fully-taxable equivalent (FTE)
Net interest income	$	1,395	$	1,351	$	1,312	$	1,287	$	1,316
FTE adjustment	14		13		13		13		11
Net interest income (1)	1,409		1,364		1,325		1,300		1,327
Noninterest income	559		523		491		467		405
Total revenue (1)	$	1,968	$	1,887	$	1,816	$	1,767	$	1,732

(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
	December 31,			September 30,			June 30,			March 31,			December 31,			Percent Changes vs.
(dollar amounts in millions)	2024			2024			2024			2024			2023			3Q24		4Q23
Net origination and secondary marketing income	$	25		$	25		$	17		$	16		$	12		—	%	108	%
Net mortgage servicing income
Loan servicing income	26			25			25			25			24			4		8
Amortization of capitalized servicing	(16)			(14)			(14)			(11)			(13)			(14)		(23)
Operating income	10			11			11			14			11			(9)		(9)
MSR valuation adjustment (1)	53			(25)			11			20			(34)			312		256
(Losses) gains due to MSR hedging	(57)			27			(10)			(19)			34			(311)		(268)
Net MSR risk management	(4)			2			1			1			—			(300)		(100)
Total net mortgage servicing income	6			13			12			15			11			(54)		(45)
All other	—			—			1			—			—			—		—
Mortgage banking income	$	31		$	38		$	30		$	31		$	23		(18)	%	35	%

Mortgage origination volume	$	2,093		$	1,883		$	2,164		$	1,276		$	1,666		11	%	26	%
Mortgage origination volume for sale	1,220			1,194			1,191			834			962			2		27

Third party mortgage loans serviced (2)	$	33,696		$	33,565		$	33,404		$	33,303		$	33,237		—	%	1	%
Mortgage servicing rights (2)	573			515			543			534			515			11		11
MSR % of investor servicing portfolio (2)	1.70		%	1.53		%	1.63		%	1.60		%	1.55		%	11		10

(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
	December 31,			September 30,			June 30,			March 31,			December 31,
(dollar amounts in millions)	2024			2024			2024			2024			2023
Allowance for loan and lease losses, beginning of period	$	2,235		$	2,304		$	2,280		$	2,255		$	2,208

Loan and lease charge-offs	(129)			(129)			(145)			(128)			(132)
Recoveries of loans and leases previously charged-off	32			36			55			36			38
Net loan and lease charge-offs	(97)			(93)			(90)			(92)			(94)
Provision for loan and lease losses	106			24			114			117			141


Allowance for loan and lease losses, end of period	2,244			2,235			2,304			2,280			2,255
Allowance for unfunded lending commitments, beginning of period	201			119			135			145			160

Provision for unfunded lending commitments	1			82			(16)			(10)			(15)


Allowance for unfunded lending commitments, end of period	202			201			119			135			145
Total allowance for credit losses, end of period	$	2,446		$	2,436		$	2,423		$	2,415		$	2,400
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases	1.73		%	1.77		%	1.85		%	1.86		%	1.85		%
Nonaccrual loans and leases (NALs)	286			303			314			318			338
Nonperforming assets (NPAs)	273			285			296			309			317
Total allowance for credit losses (ACL) as % of:
Total loans and leases	1.88		%	1.93		%	1.95		%	1.97		%	1.97		%
Nonaccrual loans and leases (NALs)	312			330			331			337			360
Nonperforming assets (NPAs)	297			311			311			327			337



	December 31,		September 30,		June 30,		March 31,		December 31,
(dollar amounts in millions)	2024		2024		2024		2024		2023
Allocation of allowance for credit losses
Commercial
Commercial and industrial	$	947	$	937	$	995	$	974	$	993
Commercial real estate	473		510		542		564		522
Lease financing	64		51		50		51		48
Total commercial	1,484		1,498		1,587		1,589		1,563
Consumer
Residential mortgage	205		193		199		163		188
Automobile	145		138		127		146		142
Home equity	148		149		142		137		114
RV and marine	150		150		146		148		148
Other consumer	112		107		103		97		100
Total consumer	760		737		717		691		692
Total allowance for loan and lease losses	2,244		2,235		2,304		2,280		2,255
Allowance for unfunded lending commitments	202		201		119		135		145
Total allowance for credit losses	$	2,446	$	2,436	$	2,423	$	2,415	$	2,400

Huntington Bancshares Incorporated

Quarterly Net Charge-Off Analysis

(Unaudited)


	Three Months Ended
	December 31,			September 30,			June 30,			March 31,			December 31,
(dollar amounts in millions)	2024			2024			2024			2024			2023
Net charge-offs (recoveries) by loan and lease type:
Commercial:
Commercial and industrial	$	52		$	51		$	21		$	42		$	39



Commercial real estate	(2)			5			36			13			21
Lease financing	1			(2)			—			—			(3)
Total commercial	51			54			57			55			57
Consumer:
Residential mortgage	—			—			1			—			—
Automobile	12			8			6			9			9
Home equity	—			(1)			—			—			—
RV and marine	7			6			4			5			5
Other consumer	27			26			22			23			23
Total consumer	46			39			33			37			37
Total net charge-offs	$	97		$	93		$	90		$	92		$	94


	Three Months Ended
	December 31,			September 30,			June 30,			March 31,			December 31,
	2024			2024			2024			2024			2023
Net charge-offs (recoveries) - annualized percentages:
Commercial:
Commercial and industrial	0.39		%	0.39		%	0.16		%	0.33		%	0.32		%



Commercial real estate	(0.08)			0.17			1.19			0.41			0.65
Lease financing	0.06			(0.18)			0.02			0.01			(0.24)
Total commercial	0.29			0.31			0.33			0.32			0.34
Consumer:
Residential mortgage	0.01			—			0.01			—			0.01
Automobile	0.32			0.24			0.20			0.27			0.27
Home equity	(0.02)			(0.02)			(0.01)			0.01			0.01
RV and marine	0.43			0.37			0.25			0.36			0.34
Other consumer	6.51			6.38			5.98			6.39			6.48
Total consumer	0.32			0.28			0.24			0.28			0.28
Net charge-offs as a % of average loans and leases	0.30		%	0.30		%	0.29		%	0.30		%	0.31		%

Huntington Bancshares Incorporated

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

(Unaudited)


	December 31,			September 30,			June 30,			March 31,			December 31,
(dollar amounts in millions)	2024			2024			2024			2024			2023
Nonaccrual loans and leases (NALs):
Commercial and industrial	$	457		$	408		$	346		$	376		$	344
Commercial real estate	118			132			194			154			140
Lease financing	10			9			13			10			14
Residential mortgage	83			82			80			75			72
Automobile	6			5			4			4			4
Home equity	107			100			95			96			91
RV and marine	2			2			1			1			2

Total nonaccrual loans and leases	783			738			733			716			667



Other real estate, net	8			8			10			10			10
Other NPAs (1)	31			38			37			12			34
Total nonperforming assets	$	822		$	784		$	780		$	738		$	711

Nonaccrual loans and leases as a % of total loans and leases	0.60		%	0.58		%	0.59		%	0.58		%	0.55		%
NPA ratio (2)	0.63			0.62			0.63			0.60			0.58
(NPA+90days)/(Loan+OREO) (3)	0.82			0.80			0.77			0.75			0.74


	Three Months Ended
	December 31,		September 30,		June 30,		March 31,		December 31,
(dollar amounts in millions)	2024		2024		2024		2024		2023
Nonperforming assets, beginning of period	$	784	$	780	$	738	$	711	$	634
New nonperforming assets	271		254		316		263		300


Returns to accruing status	(46)		(55)		(55)		(68)		(47)
Charge-offs	(37)		(53)		(82)		(64)		(73)
Payments	(146)		(139)		(135)		(102)		(98)
Sales	(4)		(3)		(2)		(2)		(5)

Nonperforming assets, end of period	$	822	$	784	$	780	$	738	$	711

(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)


	December 31,			September 30,			June 30,			March 31,			December 31,
(dollar amounts in millions)	2024			2024			2024			2024			2023
Accruing loans and leases past due 90+ days:
Commercial and industrial	$	3		$	6		$	1		$	1		$	1

Lease financing	11			16			4			3			4
Residential mortgage (excluding loans guaranteed by the U.S. Government)	34			28			22			26			27
Automobile	12			10			8			8			9
Home equity	20			20			18			17			22
RV and marine	4			3			3			2			3
Other consumer	4			5			3			4			4
Total, excl. loans guaranteed by the U.S. Government	88			88			59			61			70
Add: loans guaranteed by U.S. Government	151			136			116			122			119
Total accruing loans and leases past due 90+ days, including loans guaranteed by the U.S. Government	$	239		$	224		$	175		$	183		$	189

Ratios:
Excluding loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.07		%	0.07		%	0.05		%	0.05		%	0.06		%
Guaranteed by U.S. Government, as a percent of total loans and leases	0.12			0.11			0.09			0.10			0.10
Including loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.18			0.18			0.14			0.15			0.15

Huntington Bancshares Incorporated

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

(Unaudited)


	December 31,			September 30,			June 30,			March 31,			December 31,
(dollar amounts in millions)	2024			2024			2024			2024			2023
Common equity tier 1 risk-based capital ratio: (1)
Total Huntington shareholders’ equity	$	19,740		$	20,606		$	19,515		$	19,322		$	19,353
Regulatory capital adjustments:
CECL transitional amount (2)	109			109			109			109			219
Shareholders’ preferred equity and related surplus	(1,999)			(2,404)			(2,404)			(2,404)			(2,404)
Accumulated other comprehensive loss	2,866			2,104			2,911			2,879			2,676
Goodwill and other intangibles, net of taxes	(5,534)			(5,546)			(5,561)			(5,575)			(5,591)
Deferred tax assets from tax loss and credit carryforwards	(55)			(66)			(49)			(48)			(41)
Common equity tier 1 capital	15,127			14,803			14,521			14,283			14,212
Additional tier 1 capital
Shareholders’ preferred equity and related surplus	1,999			2,404			2,404			2,404			2,404


Tier 1 capital	17,126			17,207			16,925			16,687			16,616
Long-term debt and other tier 2 qualifying instruments	1,641			1,119			1,278			1,279			1,306
Qualifying allowance for loan and lease losses	1,798			1,784			1,743			1,747			1,735
Tier 2 capital	3,439			2,903			3,021			3,026			3,041
Total risk-based capital	$	20,565		$	20,110		$	19,946		$	19,713		$	19,657
Risk-weighted assets (RWA)(1)	$	143,664		$	142,543		$	139,374		$	139,622		$	138,706
Common equity tier 1 risk-based capital ratio (1)	10.5		%	10.4		%	10.4		%	10.2		%	10.2		%
Other regulatory capital data:
Tier 1 leverage ratio (1)	8.6			8.8			8.8			8.9			9.3
Tier 1 risk-based capital ratio (1)	11.9			12.1			12.1			12.0			12.0
Total risk-based capital ratio (1)	14.3			14.1			14.3			14.1			14.2
Non-regulatory capital data:
Tangible common equity / RWA ratio (1)	8.4			8.8			8.2			8.1			8.1




Reconciliation of Non-GAAP Measure (3)
Common equity tier 1 (CET1) capital (A)	$	15,127		$	14,803		$	14,521		$	14,283		$	14,212
Add: Accumulated other comprehensive income (loss) (AOCI)	(2,866)			(2,104)			(2,911)			(2,879)			(2,676)
Less: AOCI cash flow hedge	(267)			(39)			(399)			(436)			(363)
Adjusted common equity tier 1 (B)	12,528			12,738			12,009			11,840			11,899
Risk weighted assets (C)	143,664			142,543			139,374			139,622			138,706

CET1 ratio (A/C)	10.5		%	10.4		%	10.4		%	10.2		%	10.2		%
Adjusted CET1 ratio (B/C)	8.7			8.9			8.6			8.5			8.6

(1)December 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, with the cumulative CECL deferral fully phased in beginning January 1, 2025. As of December 31, 2024, 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, 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.

Huntington Bancshares Incorporated

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

(Unaudited)

Quarterly common stock summary


	December 31,		September 30,		June 30,		March 31,		December 31,
	2024		2024		2024		2024		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		1,453		1,451		1,448		1,448
Average - diluted	1,481		1,477		1,474		1,473		1,469
Ending	1,454		1,453		1,452		1,449		1,448
Tangible book value per common share (1)	$	8.33	$	8.65	$	7.89	$	7.77	$	7.79

Non-regulatory capital


	December 31,			September 30,			June 30,			March 31,			December 31,
(dollar amounts in millions)	2024			2024			2024			2024			2023
Calculation of tangible equity / asset ratio:
Total Huntington shareholders’ equity	$	19,740		$	20,606		$	19,515		$	19,322		$	19,353
Goodwill and other intangible assets	(5,657)			(5,669)			(5,680)			(5,692)			(5,704)

Deferred tax liability on other intangible assets (1)	20			23			25			28			30
Total tangible equity	14,103			14,960			13,860			13,658			13,679
Preferred equity	(1,989)			(2,394)			(2,394)			(2,394)			(2,394)
Total tangible common equity	$	12,114		$	12,566		$	11,466		$	11,264		$	11,285
Total assets	$	204,230		$	200,535		$	196,310		$	193,519		$	189,368
Goodwill and other intangible assets	(5,657)			(5,669)			(5,680)			(5,692)			(5,704)
Deferred tax liability on other intangible assets (1)	20			23			25			28			30
Total tangible assets	$	198,593		$	194,889		$	190,655		$	187,855		$	183,694
Tangible equity / tangible asset ratio	7.1		%	7.7		%	7.3		%	7.3		%	7.4		%
Tangible common equity / tangible asset ratio	6.1		%	6.4		%	6.0		%	6.0		%	6.1		%
Other data:
Number of employees (Average full-time equivalent)	20,045			20,043			19,889			19,719			19,612
Number of domestic full-service branches (2)	978			975			972			969			999
ATM Count	1,577			1,585			1,603			1,606			1,630

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

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

Huntington Bancshares Incorporated

Consolidated Annual Average Balance Sheets

(Unaudited)


	Annual Average Balances (1)
			Change from 2023						Change from 2022
(dollar amounts in millions)	2024		Amount		Percent		2023		Amount		Percent		2022
Assets


Interest-earning deposits with banks	$	11,113	$	1,804	19	%	$	9,309	$	4,457	92	%	$	4,852
Securities:
Trading account securities	265		188		244		77		45		141		32
Available-for-sale securities:
Taxable	24,232		3,693		18		20,539		(1,455)		(7)		21,994
Tax-exempt	2,779		59		2		2,720		(122)		(4)		2,842
Total available-for-sale securities	27,011		3,752		16		23,259		(1,577)		(6)		24,836


Held-to-maturity securities - taxable	15,478		(1,029)		(6)		16,507		(2)		—		16,509


Other securities	789		(144)		(15)		933		88		10		845
Total securities	43,543		2,767		7		40,776		(1,446)		(3)		42,222
Loans held for sale	597		43		8		554		(419)		(43)		973
Loans and leases:(2)
Commercial:
Commercial and industrial	52,426		2,786		6		49,640		4,278		9		45,362
Commercial real estate:

Commercial	10,975		(841)		(7)		11,816		43		—		11,773
Construction	960		(364)		(27)		1,324		(427)		(24)		1,751
Commercial real estate	11,935		(1,205)		(9)		13,140		(384)		(3)		13,524
Lease financing	5,190		62		1		5,128		154		3		4,974
Total commercial	69,551		1,643		2		67,908		4,048		6		63,860
Consumer:
Residential mortgage	23,956		966		4		22,990		2,083		10		20,907
Automobile	13,372		491		4		12,881		(573)		(4)		13,454
Home equity	10,088		(68)		(1)		10,156		(253)		(2)		10,409
RV and marine	5,979		329		6		5,650		328		6		5,322
Other consumer	1,557		195		14		1,362		48		4		1,314
Total consumer	54,952		1,913		4		53,039		1,633		3		51,406
Total loans and leases	124,503		3,556		3		120,947		5,681		5		115,266
Total earning assets	179,756		8,170		5		171,586		8,273		5		163,313
Cash and due from banks	1,397		(179)		(11)		1,576		(90)		(5)		1,666
Goodwill and other intangible assets	5,680		(51)		(1)		5,731		43		1		5,688


All other assets	9,427		764		9		8,663		562		7		8,101
Total assets	$	196,260	$	8,704	5	%	$	187,556	$	8,788	5	%	$	178,768
Liabilities and equity
Interest-bearing deposits:
Demand deposits - interest-bearing	$	40,401	$	500	1	%	$	39,901	$	(1,878)	(4)	%	$	41,779
Money market deposits	54,702		9,744		22		44,958		7,403		20		37,555
Savings deposits	15,141		(2,361)		(13)		17,502		(3,117)		(15)		20,619
Time deposits	15,343		4,301		39		11,042		7,657		226		3,385




Total interest-bearing deposits	125,587		12,184		11		113,403		10,065		10		103,338
Short-term borrowings	1,147		(1,934)		(63)		3,081		596		24		2,485
Long-term debt	15,224		1,900		14		13,324		4,600		53		8,724
Total interest-bearing liabilities	141,958		12,150		9		129,808		15,261		13		114,547
Demand deposits - noninterest-bearing	29,479		(4,506)		(13)		33,985		(7,589)		(18)		41,574
All other liabilities	5,123		43		1		5,080		727		17		4,353
Total Huntington shareholders’ equity	19,651		1,017		5		18,634		371		2		18,263
Non-controlling interest	49		—		—		49		18		58		31
Total Equity	$	19,700	$	1,017	5	%	$	18,683	$	389	2	%	$	18,294
Total liabilities and equity	$	196,260	$	8,704	5	%	$	187,556	$	8,788	5	%	$	178,768

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

(2)Includes nonaccrual loans.

Huntington Bancshares Incorporated

Consolidated Annual Net Interest Margin - Interest Income / Expense(1)(2)

(Unaudited)


	Annual Interest Income / Expense
(dollar amounts in millions)	2024		2023		2022
Assets


Interest-earning deposits with banks	$	598	$	492	$	83
Securities:
Trading account securities	13		4		1
Available-for-sale securities:
Taxable	1,251		1,016		576
Tax-exempt	141		132		94
Total available-for-sale securities	1,392		1,148		670
Held-to-maturity securities - taxable	385		401		351
Other securities	42		53		27
Total securities	1,832		1,606		1,049
Loans held for sale	40		35		41
Loans and leases:
Commercial:
Commercial and industrial	3,321		2,991		1,956
Commercial real estate:
Commercial	821		865		520
Construction	86		107		82
Commercial real estate	907		972		602
Lease Financing	336		289		251
Total commercial	4,564		4,252		2,809
Consumer:
Residential mortgage	943		825		661
Automobile	726		561		472
Home equity	780		760		532
RV and marine	310		271		227
Other consumer	181		156		126
Total consumer	2,940		2,573		2,018
Total loans and leases	7,504		6,825		4,827
Total earning assets	$	9,974	$	8,958	$	6,000
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	$	858	$	703	$	158
Money market deposits	1,994		1,365		187
Savings deposits	15		3		3
Time deposits	705		426		15




Total interest-bearing deposits	3,572		2,497		363
Short-term borrowings	69		179		46
Long-term debt	935		801		287
Total interest-bearing liabilities	4,576		3,477		696
Net interest income	$	5,398	$	5,481	$	5,304

(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.

Huntington Bancshares Incorporated

Consolidated Annual Net Interest Margin - Yield

(Unaudited)


	Annual Average Rates
Fully-taxable equivalent basis(1)	2024		2023		2022
Assets


Interest-earning deposits with banks	5.38	%	5.30	%	1.70	%
Securities:
Trading account securities	5.04		5.14		4.14
Available-for-sale securities:
Taxable	5.16		4.95		2.62
Tax-exempt	5.08		4.84		3.32
Total available-for-sale securities	5.15		4.93		2.70
Held-to-maturity securities - taxable	2.49		2.43		2.13
Other securities	5.33		5.70		3.16
Total securities	4.21		3.94		2.48
Loans held for sale	6.63		6.34		4.24
Loans and leases: (2)
Commercial:
Commercial and industrial	6.33		6.03		4.31
Commercial real estate:
Commercial	7.48		7.32		4.41
Construction	9.01		8.12		4.71
Commercial real estate	7.60		7.40		4.45
Lease financing	6.47		5.63		5.04
Total commercial	6.56		6.26		4.40
Consumer:
Residential mortgage	3.94		3.59		3.16
Automobile	5.43		4.36		3.51
Home equity	7.73		7.48		5.11
RV and marine	5.19		4.79		4.26
Other consumer	11.61		11.53		9.51
Total consumer	5.35		4.85		3.92
Total loans and leases	6.03		5.64		4.19
Total earning assets	5.55		5.22		3.67
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing	2.12	%	1.76	%	0.38	%
Money market deposits	3.64		3.04		0.50
Savings deposits	0.10		0.02		0.01
Time deposits	4.60		3.86		0.45




Total interest-bearing deposits	2.84		2.20		0.35
Short-term borrowings	5.99		5.81		1.86
Long-term debt	6.14		6.01		3.29
Total interest bearing liabilities	3.22		2.68		0.61

Net interest rate spread	2.33		2.54		3.06
Impact of noninterest-bearing funds on margin	0.67		0.65		0.19
Net interest margin	3.00	%	3.19	%	3.25	%


Additional Information:
Commercial Loan Derivative Impact
Commercial loans (2)(3)	7.23	%	6.95	%	4.45	%
Impact of commercial loan derivatives	(0.67)		(0.69)		(0.05)
Total commercial - as reported	6.56	%	6.26	%	4.40	%

Average SOFR	5.15	%	5.00	%	1.63	%

Total cost of deposits (4)	2.30	%	1.69	%	0.25	%

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

(2)Includes nonaccrual loans and leases.

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

(4)Includes noninterest-bearing and interest-bearing deposit balances.

Huntington Bancshares Incorporated

Selected Annual Income Statement Data (1)

(Unaudited)


	Year Ended December 31,
(dollar amounts in millions, except per share data)			Change						Change
	2024		Amount		Percent		2023		Amount		Percent		2022
Interest income	$	9,921	$	1,005	11	%	$	8,916	$	2,947	49	%	$	5,969
Interest expense	4,576		1,099		32		3,477		2,781		400		696
Net interest income	5,345		(94)		(2)		5,439		166		3		5,273
Provision for credit losses	420		18		4		402		113		39		289
Net interest income after provision for credit losses	4,925		(112)		(2)		5,037		53		1		4,984
Payments and cash management revenue	620		35		6		585		24		4		561
Wealth and asset management revenue	364		36		11		328		28		9		300
Customer deposit and loan fees	334		22		7		312		(38)		(11)		350
Capital markets and advisory fees	327		79		32		248		(17)		(6)		265
Mortgage banking income	130		21		19		109		(35)		(24)		144
Leasing revenue	79		(33)		(29)		112		(14)		(11)		126
Insurance income	77		3		4		74		(5)		(6)		79


Net gains (losses) on sales of securities	(21)		(14)		NM		(7)		(7)		NM		—
Other noninterest income	130		(30)		(19)		160		4		3		156
Total noninterest income	2,040		119		6		1,921		(60)		(3)		1,981
Personnel costs	2,701		172		7		2,529		128		5		2,401
Outside data processing and other services	665		60		10		605		(5)		(1)		610
Equipment	267		4		2		263		(6)		(2)		269
Net occupancy	221		(25)		(10)		246		—		—		246
Marketing	116		1		1		115		24		26		91
Deposit and other insurance expense	114		(188)		(62)		302		235		NM		67
Professional services	99		—		—		99		22		29		77
Amortization of intangibles	47		(3)		(6)		50		(3)		(6)		53
Lease financing equipment depreciation	15		(12)		(44)		27		(18)		(40)		45
Other noninterest expense	317		(21)		(6)		338		(4)		(1)		342
Total noninterest expense	4,562		(12)		—		4,574		373		9		4,201
Income before income taxes	2,403		19		1		2,384		(380)		(14)		2,764
Provision for income taxes	443		30		7		413		(102)		(20)		515
Income after income taxes	1,960		(11)		(1)		1,971		(278)		(12)		2,249
Income attributable to non-controlling interest	20		—		—		20		9		82		11
Net income attributable to Huntington	1,940		(11)		(1)		1,951		(287)		(13)		2,238
Dividends on preferred shares	134		(8)		(6)		142		29		26		113
Impact of preferred stock redemptions and repurchases	5		13		NM		(8)		(8)		NM		—
Net income applicable to common shares	$	1,801	$	(16)	(1)	%	$	1,817	$	(308)	(14)	%	$	2,125
Average common shares - basic	1,451		5		—	%	1,446		5		—	%	1,441
Average common shares - diluted	1,476		8		1		1,468		3		—		1,465
Per common share
Net income - basic	$	1.24	$	(0.02)	(2)		$	1.26	$	(0.21)	(14)		$	1.47
Net income - diluted	1.22		(0.02)		(2)		1.24		(0.21)		(14)		1.45
Cash dividends declared	0.62		—		—		0.62		—		—		0.620
Revenue - fully taxable equivalent (FTE)
Net interest income	$	5,345	$	(94)	(2)		$	5,439	$	166	3		$	5,273
FTE adjustment (2)	53		11		26		42		11		35		31
Net interest income	5,398		(83)		(2)		5,481		177		3		5,304
Noninterest income	2,040		119		6		1,921		(60)		(3)		1,981
Total revenue (2)	$	7,438	$	36	—	%	$	7,402	$	117	2	%	$	7,285

NM - Not Meaningful

(1)During the 2023 fourth quarter, our noninterest income categories were updated to be based on product and service type. A description of each updated noninterest income category is included within the Notes to this Quarterly Financial Supplement. All prior period results have been adjusted to conform to the current presentation.

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

Huntington Bancshares Incorporated

Annual Mortgage Banking Noninterest Income

(Unaudited)


	Year Ended December 31,
(dollar amounts in millions)	2024			2023			2022
Net origination and secondary marketing income	$	83		$	69		$	105
Net mortgage servicing income
Loan servicing income	101			94			88
Amortization of capitalized servicing	(55)			(48)			(56)
Operating income	46			46			32
MSR valuation adjustment (1)	59			7			114
Gains (losses) due to MSR hedging	(59)			(10)			(109)
Net MSR risk management	—			(3)			5
Total net mortgage servicing income (expense)	$	46		$	43		$	37
All other	1			(3)			2
Mortgage banking income	$	130		$	109		$	144

Mortgage origination volume	$	7,416		$	7,602		$	10,457
Mortgage origination volume for sale	4,439			4,205			5,010

Third party mortgage loans serviced (2)	$	33,696		$	33,237		$	32,354
Mortgage servicing rights (2)	573			515			494
MSR % of investor servicing portfolio	1.70		%	1.55		%	1.53		%

(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

Annual Credit Reserves Analysis

(Unaudited)


	Year Ended December 31,
(dollar amounts in millions)	2024			2023			2022
Allowance for loan and lease losses, beginning of period	$	2,255		$	2,121		$	2,030

Loan and lease charge-offs	(531)			(454)			(313)
Recoveries of loans and leases previously charged off	159			181			192
Net loan and lease charge-offs	(372)			(273)			(121)
Provision for loan and lease losses	361			407			212


Allowance for loan and lease losses, end of period	2,244			2,255			2,121
Allowance for unfunded lending commitments, beginning of period	145			150			77

Provision for (reduction in) unfunded lending commitments	57			(5)			73


Allowance for unfunded lending commitments, end of period	202			145			150
Total allowance for credit losses, end of period	$	2,446		$	2,400		$	2,271
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases	1.73		%	1.85		%	1.77		%
Nonaccrual loans and leases (NALs)	286			338			373
Nonperforming assets (NPAs)	273			317			357
Total allowance for credit losses (ACL) as % of:
Total loans and leases	1.88		%	1.97		%	1.90		%
Nonaccrual loans and leases (NALs)	312			360			400
Nonperforming assets (NPAs)	297			337			382


	Year Ended December 31,
(dollar amounts in millions)	2024		2023		2022
Allocation of allowance for credit losses
Commercial
Commercial and industrial	$	947	$	993	$	939
Commercial real estate	473		522		433
Lease financing	64		48		52
Total commercial	1,484		1,563		1,424
Consumer
Residential mortgage	205		188		187
Automobile	145		142		141
Home equity	148		114		105
RV and marine	150		148		143
Other consumer	112		100		121
Total consumer	760		692		697
Total allowance for loan and lease losses	2,244		2,255		2,121
Allowance for unfunded lending commitments	202		145		150
Total allowance for credit losses	$	2,446	$	2,400	$	2,271

Huntington Bancshares Incorporated

Annual Net Charge-Off Analysis

(Unaudited)


	Year Ended December 31,
(dollar amounts in millions)	2024			2023			2022
Net charge-offs (recoveries) by loan and lease type:
Commercial:
Commercial and industrial	$	166		$	107		$	(2)



Commercial real estate	52			57			8
Lease financing	(1)			(6)			9
Total commercial	217			158			15
Consumer:
Residential mortgage	1			2			(2)
Automobile	35			21			6
Home equity	(1)			(1)			(5)
RV and marine	22			12			8
Other consumer	98			81			99
Total consumer	155			115			106
Total net charge-offs	$	372		$	273		$	121

Net charge-offs (recoveries) - annualized percentages:
Commercial:
Commercial and industrial	0.32		%	0.22		%	—		%



Commercial real estate	0.43			0.43			0.06
Lease financing	(0.03)			(0.12)			0.18
Total commercial	0.31			0.23			0.03
Consumer:
Residential mortgage	0.01			0.01			(0.01)
Automobile	0.26			0.16			0.05
Home equity	(0.01)			(0.01)			(0.05)
RV and marine	0.36			0.21			0.15
Other consumer	6.32			6.03			7.55
Total consumer	0.28			0.22			0.21
Net charge-offs as a % of average loans	0.30		%	0.23		%	0.11		%

Huntington Bancshares Incorporated

Annual Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)

(Unaudited)


	December 31,
(dollar amounts in millions)	2024			2023			2022
Nonaccrual loans and leases (NALs):
Commercial and industrial	$	457		$	344		$	288
Commercial real estate	118			140			92
Lease financing	10			14			18
Residential mortgage	83			72			90
Automobile	6			4			4
Home equity	107			91			76
RV and marine	2			2			1

Total nonaccrual loans and leases	783			667			569




Other real estate, net	8			10			11
Other NPAs (1)	31			34			14
Total nonperforming assets	$	822		$	711		$	594

Nonaccrual loans and leases as a % of total loans and leases	0.60		%	0.55		%	0.48		%
NPA ratio (2)	0.63			0.58			0.50


	December 31,
(dollar amounts in millions)	2024		2023		2022
Nonperforming assets, beginning of period	$	711	$	594	$	750
New nonperforming assets	1,104		977		755
Returns to accruing status	(224)		(177)		(264)
Loan and lease losses	(236)		(231)		(151)
Payments	(522)		(425)		(485)
Sales and held-for-sale transfers	(11)		(27)		(11)

Nonperforming assets, end of period	$	822	$	711	$	594

(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.