Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING

v3.24.3
SEGMENT REPORTING
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
Huntington’s business segments are based on our internally-aligned segment leadership structure, which is how management monitors results and assesses performance. During the second quarter of 2023, we completed an organizational realignment and now report on two business segments: Consumer & Regional Banking and Commercial Banking. The Treasury / Other function includes technology and operations, other unallocated assets, liabilities, revenue, and expense. For a description of our business segments, see Note 25 - “Segment Reporting” to the Consolidated Financial Statements appearing in Huntington’s 2023 Annual Report on Form 10-K. Prior period results have been adjusted to conform to the current presentation.
Listed in the following tables is certain operating basis financial information reconciled to Huntington’s, reported results by business segment.
Consumer & Regional Banking Commercial Banking Treasury / Other Huntington Consolidated
(dollar amounts in millions)
Three months ended September 30, 2024
Net interest income (loss)
 $ 1,050  $ 529  $ (228) $ 1,351 
Provision for credit losses 105  1  —  106 
Noninterest income
 338  181  4  523 
Noninterest expense
 799  289  42  1,130 
Provision (benefit) for income taxes
 102  88  (74) 116 
Income attributable to non-controlling interest —  5  —  5 
Net income (loss) attributable to Huntington $ 382  $ 327  $ (192) $ 517 
Three months ended September 30, 2023
Net interest income (loss)
 $ 941  $ 549  $ (122) $ 1,368 
Provision for credit losses
 82  17  —  99 
Noninterest income
 307  156  46  509 
Noninterest expense
 764  278  48  1,090 
Provision (benefit) for income taxes
 84  86  (34) 136 
Income attributable to non-controlling interest —  5  —  5 
Net income (loss) attributable to Huntington
$ 318  $ 319  $ (90) $ 547 
Nine months ended September 30, 2024
Net interest income (loss)
 $ 3,013  $ 1,579  $ (642) $ 3,950 
Provision for credit losses 227  86  —  313 
Noninterest income 968  490  23  1,481 
Noninterest expense 2,364  883  137  3,384 
Provision (benefit) for income taxes 292  231  (215) 308 
Income attributable to non-controlling interest —  16  —  16 
Net income (loss) attributable to Huntington $ 1,098  $ 853  $ (541) $ 1,410 
Nine months ended September 30, 2023
Net interest income (loss)
 $ 2,745  $ 1,637  $ (259) $ 4,123 
Provision for credit losses
 192  84  —  276 
Noninterest income 953  479  84  1,516 
Noninterest expense 2,283  830  113  3,226 
Provision (benefit) for income taxes 257  252  (95) 414 
Income attributable to non-controlling interest —  15  —  15 
Net income (loss) attributable to Huntington
 $ 966  $ 935  $ (193) $ 1,708 
Assets
Deposits
(dollar amounts in millions) At September 30, 2024 At December 31, 2023 At September 30, 2024 At December 31, 2023
Consumer & Regional Banking $ 76,804  $ 73,082  $ 110,107  $ 110,157 
Commercial Banking 64,583  63,377  42,064  35,466 
Treasury / Other 59,148  52,909  6,180  5,607 
Total
 $ 200,535  $ 189,368  $ 158,351  $ 151,230