Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income

v3.22.4
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Interest and fee income:      
Loans and leases $ 4,816,000 $ 3,636,000 $ 3,085,000
Available-for-sale securities      
Taxable 576,000 261,000 237,000
Tax-exempt 74,000 56,000 61,000
Held-to-maturity securities-taxable 351,000 174,000 215,000
Other securities-taxable 27,000 10,000 6,000
Other interest income 125,000 54,000 43,000
Total interest income 5,969,000 4,191,000 3,647,000
Interest expense      
Deposits 363,000 45,000 197,000
Short-term borrowings 46,000 1,000 13,000
Long-term debt 287,000 43,000 213,000
Total interest expense 696,000 89,000 423,000
Net interest income 5,273,000 4,102,000 3,224,000
Provision for credit losses 289,000 25,000 1,048,000
Net interest income after provision for credit losses 4,984,000 4,077,000 2,176,000
Service charges on deposit accounts 384,000 372,000 301,000
Card and payment processing income 374,000 334,000 248,000
Capital markets fees 252,000 151,000 125,000
Trust and investment management services 249,000 232,000 189,000
Mortgage banking income 144,000 309,000 366,000
Leasing revenue 126,000 99,000 21,000
Insurance income 117,000 105,000 97,000
Gain on sale of loans 57,000 9,000 42,000
Bank owned life insurance income 56,000 69,000 64,000
Net gains (losses) on sales of securities 0 9,000 (1,000)
Other noninterest income 222,000 200,000 139,000
Total noninterest income 1,981,000 1,889,000 1,591,000
Personnel costs 2,401,000 2,335,000 1,692,000
Outside data processing and other services 610,000 850,000 384,000
Equipment 269,000 248,000 180,000
Net occupancy 246,000 277,000 158,000
Marketing 91,000 89,000 38,000
Professional services 77,000 113,000 55,000
Deposit and other insurance expense 67,000 51,000 32,000
Amortization of intangibles 53,000 48,000 41,000
Lease financing equipment depreciation 45,000 41,000 1,000
Other noninterest expense 342,000 323,000 214,000
Total noninterest expense 4,201,000 4,375,000 2,795,000
Income before income taxes 2,764,000 1,591,000 972,000
Provision for income taxes 515,000 294,000 155,000
Income after income taxes 2,249,000 1,297,000 817,000
Income attributable to non-controlling interest 11,000 2,000 0
Net income attributable to Huntington Bancshares Inc 2,238,000 1,295,000 817,000
Dividends on preferred shares 113,000 131,000 100,000
Impact of preferred stock redemption 0 11,000 0
Net income available to common shares $ 2,125,000 $ 1,153,000 $ 717,000
Average common shares—basic (in shares) 1,441,279 1,262,435 1,017,117
Average common shares—diluted (in shares) 1,465,220 1,286,733 1,032,683
Per common share:      
Net income - basic (in USD per share) $ 1.47 $ 0.91 $ 0.71
Net income - diluted (in USD per share) $ 1.45 $ 0.90 $ 0.69