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
Mar. 31, 2024
Mar. 31, 2023
Interest and fee income:    
Loans and leases $ 1,809 $ 1,579
Available-for-sale securities    
Taxable 296 232
Tax-exempt 27 23
Held-to-maturity securities—taxable 95 102
Other securities—taxable 9 10
Other 144 82
Total interest income 2,380 2,028
Interest expense:    
Deposits 857 406
Short-term borrowings 19 60
Long-term debt 217 153
Total interest expense 1,093 619
Net interest income 1,287 1,409
Provision for credit losses 107 85
Net interest income after provision for credit losses 1,180 1,324
Payments and cash management revenue 146 137
Wealth and asset management revenue 88 80
Customer deposit and loan fees 77 76
Capital markets and advisory fees 56 65
Leasing revenue 22 26
Mortgage banking income 31 26
Insurance income 19 19
Bank owned life insurance income 16 16
Gain on sale of loans 5 3
Net gains on sales of securities 0 1
Other noninterest income 7 63
Total noninterest income 467 512
Personnel costs 639 649
Outside data processing and other services 166 151
Deposit and other insurance expense 54 20
Equipment 70 64
Net occupancy 57 60
Marketing 28 25
Professional services 25 16
Amortization of intangibles 12 13
Lease financing equipment depreciation 4 8
Other noninterest expense 82 80
Total noninterest expense 1,137 1,086
Income before income taxes 510 750
Provision for income taxes 86 144
Income after income taxes 424 606
Income attributable to non-controlling interest 5 4
Net income attributable to Huntington 419 602
Dividends on preferred shares 36 29
Net income available to common shareholders, basic $ 383 $ 573
Average common shares—basic (in shares) 1,448,492 1,443,268
Average common shares—diluted (in shares) 1,473,335 1,469,279
Per common share:    
Net income—basic (in usd per share) $ 0.26 $ 0.40
Net income—diluted (in usd per share) $ 0.26 $ 0.39