Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income

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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest and fee income:        
Loans and leases $ 1,764 $ 1,268 $ 5,022 $ 3,350
Available-for-sale securities        
Taxable 259 165 743 378
Tax-exempt 29 20 78 52
Held-to-maturity securities—taxable 99 95 303 251
Other securities—taxable 19 7 40 18
Other 143 34 380 66
Total interest income 2,313 1,589 6,566 4,115
Interest expense:        
Deposits 713 92 1,689 128
Short-term borrowings 17 22 151 36
Long-term debt 215 71 603 140
Total interest expense 945 185 2,443 304
Net interest income 1,368 1,404 4,123 3,811
Provision for credit losses 99 106 276 198
Net interest income after provision for credit losses 1,269 1,298 3,847 3,613
Service charges on deposit accounts 97 93 267 295
Card and payment processing income 103 96 298 278
Capital markets fees 49 73 165 169
Trust and investment management services 62 60 192 188
Mortgage banking income 27 26 86 119
Leasing revenue 32 29 83 91
Insurance income 31 28 95 86
Gain on sale of loans 2 15 13 55
Bank owned life insurance income 18 13 50 41
Net (losses) gains on sales of securities 0 0 (4) 0
Other noninterest income 88 65 271 160
Total noninterest income 509 498 1,516 1,482
Personnel costs 622 614 1,884 1,771
Outside data processing and other services 149 145 448 463
Equipment 65 60 193 202
Net occupancy 67 63 181 185
Marketing 29 24 86 69
Professional services 27 18 64 56
Deposit and other insurance expense 25 15 68 53
Amortization of intangibles 12 13 38 40
Lease financing equipment depreciation 6 11 22 36
Other noninterest expense 88 90 242 249
Total noninterest expense 1,090 1,053 3,226 3,124
Income before income taxes 688 743 2,137 1,971
Provision for income taxes 136 146 414 371
Income after income taxes 552 597 1,723 1,600
Income attributable to non-controlling interest 5 3 15 7
Net income attributable to Huntington 547 594 1,708 1,593
Dividends on preferred shares 37 29 106 85
Net income available to common shareholders, basic $ 510 $ 565 $ 1,602 $ 1,508
Average common shares—basic (in shares) 1,447,993 1,442,591 1,445,878 1,440,740
Average common shares—diluted (in shares) 1,467,611 1,465,083 1,467,537 1,464,234
Per common share:        
Net income—basic (in usd per share) $ 0.35 $ 0.39 $ 1.11 $ 1.05
Net income—diluted (in usd per share) $ 0.35 $ 0.39 $ 1.09 $ 1.03