Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income

v3.23.1
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest and fee income:    
Loans and leases $ 1,579 $ 1,004
Available-for-sale securities    
Taxable 232 90
Tax-exempt 23 17
Held-to-maturity securities—taxable 102 66
Other securities—taxable 10 5
Other 82 13
Total interest income 2,028 1,195
Interest expense:    
Deposits 406 11
Short-term borrowings 60 7
Long-term debt 153 31
Total interest expense 619 49
Net interest income 1,409 1,146
Provision for credit losses 85 25
Net interest income after provision for credit losses 1,324 1,121
Service charges on deposit accounts 83 97
Card and payment processing income 93 86
Capital markets fees 59 42
Trust and investment management services 62 65
Mortgage banking income 26 49
Leasing revenue 26 35
Insurance income 34 31
Gain on sale of loans 3 28
Bank owned life insurance income 16 17
Net gains on sales of securities 1 0
Other noninterest income 109 49
Total noninterest income 512 499
Personnel costs 649 580
Outside data processing and other services 151 165
Equipment 64 81
Net occupancy 60 64
Marketing 25 21
Professional services 16 19
Deposit and other insurance expense 13 14
Amortization of intangibles 20 18
Lease financing equipment depreciation 8 14
Other noninterest expense 80 77
Total noninterest expense 1,086 1,053
Income before income taxes 750 567
Provision for income taxes 144 105
Income after income taxes 606 462
Income attributable to non-controlling interest 4 2
Net income attributable to Huntington 602 460
Dividends on preferred shares 29 28
Net income available to common shareholders, basic $ 573 $ 432
Average common shares—basic (in shares) 1,443,268 1,438,427
Average common shares—diluted (in shares) 1,469,279 1,464,327
Per common share:    
Net income—basic (in usd per share) $ 0.40 $ 0.30
Net income—diluted (in usd per share) $ 0.39 $ 0.29