Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income (Unaudited)

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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest and fee income:        
Loans and leases $ 1,859 $ 1,679 $ 3,668 $ 3,258
Available-for-sale securities        
Taxable 322 252 618 484
Tax-exempt 27 26 54 49
Held-to-maturity securities—taxable 93 102 188 204
Other securities—taxable 10 11 19 21
Other 165 155 309 237
Total interest income 2,476 2,225 4,856 4,253
Interest expense:        
Deposits 907 570 1,764 976
Short-term borrowings 19 74 38 134
Long-term debt 238 235 455 388
Total interest expense 1,164 879 2,257 1,498
Net interest income 1,312 1,346 2,599 2,755
Provision for credit losses 100 92 207 177
Net interest income after provision for credit losses 1,212 1,254 2,392 2,578
Payments and cash management revenue 154 146 300 283
Wealth and asset management revenue 90 83 178 163
Customer deposit and loan fees 83 76 160 152
Capital markets and advisory fees 73 62 129 127
Leasing revenue 19 25 41 51
Mortgage banking income 30 33 61 59
Insurance income 18 18 37 37
Bank owned life insurance income 17 16 33 32
Gain on sale of loans 2 8 7 11
Net gains (losses) on sales of securities 0 (5) 0 (4)
Other noninterest income 5 33 12 96
Total noninterest income 491 495 958 1,007
Personnel costs 663 613 1,302 1,262
Outside data processing and other services 165 148 331 299
Deposit and other insurance expense 25 23 79 43
Equipment 62 64 132 128
Net occupancy 51 54 108 114
Marketing 27 32 55 57
Professional services 26 21 51 37
Amortization of intangibles 12 13 24 26
Lease financing equipment depreciation 4 8 8 16
Other noninterest expense 82 74 164 154
Total noninterest expense 1,117 1,050 2,254 2,136
Income before income taxes 586 699 1,096 1,449
Provision for income taxes 106 134 192 278
Income after income taxes 480 565 904 1,171
Income attributable to non-controlling interest 6 6 11 10
Net income attributable to Huntington 474 559 893 1,161
Dividends on preferred shares 35 40 71 69
Net income available to common shareholders, basic $ 439 $ 519 $ 822 $ 1,092
Average common shares—basic (in shares) 1,451,207 1,446,372 1,449,850 1,444,820
Average common shares—diluted (in shares) 1,474,259 1,465,720 1,473,797 1,467,500
Per common share:        
Net income—basic (in usd per share) $ 0.30 $ 0.36 $ 0.57 $ 0.76
Net income—diluted (in usd per share) $ 0.30 $ 0.35 $ 0.56 $ 0.74