Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Income (Unaudited)

v3.25.1
Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Interest and fee income:    
Loans and leases $ 1,905 $ 1,809
Available-for-sale securities    
Taxable 287 296
Tax-exempt 34 27
Held-to-maturity securities—taxable 108 95
Other securities—taxable 12 9
Other 143 144
Total interest income 2,489 2,380
Interest expense:    
Deposits 810 857
Short-term borrowings 14 19
Long-term debt 239 217
Total interest expense 1,063 1,093
Net interest income 1,426 1,287
Provision for credit losses 115 107
Net interest income after provision for credit losses 1,311 1,180
Noninterest income:    
Payments and cash management revenue 155 146
Wealth and asset management revenue 351 336
Customer deposit and loan fees 86 77
Capital markets and advisory fees 67 56
Leasing revenue 14 22
Mortgage banking income 31 31
Insurance income 351 336
Other noninterest income 20 28
Total noninterest income 494 467
Noninterest expense:    
Personnel costs 671 639
Outside data processing and other services 170 166
Equipment 67 70
Net occupancy 65 57
Marketing 29 28
Deposit and other insurance expense 37 54
Professional services 22 25
Amortization of intangibles 11 12
Lease financing equipment depreciation 4 4
Other noninterest expense 76 82
Total noninterest expense 1,152 1,137
Income before income taxes 653 510
Provision for income taxes 122 86
Income after income taxes 531 424
Income attributable to non-controlling interest 4 5
Net income attributable to Huntington 527 419
Dividends on preferred shares 27 36
Net income available to common shareholders, basic $ 500 $ 383
Average common shares—basic (in shares) 1,454,498 1,448,492
Average common shares—diluted (in shares) 1,481,879 1,473,335
Per common share:    
Net income—basic (in usd per share) $ 0.34 $ 0.26
Net income—diluted (in usd per share) $ 0.34 $ 0.26
Wealth and asset management revenue    
Noninterest income:    
Wealth and asset management revenue $ 101 $ 88
Insurance income 101 88
Insurance income    
Noninterest income:    
Wealth and asset management revenue 20 19
Insurance income $ 20 $ 19