Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING

v3.24.2
SEGMENT REPORTING
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
Huntington’s business segments are based on our internally-aligned segment leadership structure, which is how management monitors results and assesses performance. During the second quarter of 2023, we completed an organizational realignment and now report on two business segments: Consumer & Regional Banking and Commercial Banking. The Treasury / Other function includes technology and operations, other unallocated assets, liabilities, revenue, and expense. For a description of our business segments, see Note 25 - “Segment Reporting” to the Consolidated Financial Statements appearing in Huntington’s 2023 Annual Report on Form 10-K. Prior period results have been adjusted to conform to the current presentation.
Listed in the following tables is certain operating basis financial information reconciled to Huntington’s, reported results by business segment.
Consumer & Regional Banking Commercial Banking Treasury / Other Huntington Consolidated
(dollar amounts in millions)
Three months ended June 30, 2024
Net interest income (loss)
 $ 1,007  $ 527  $ (222) $ 1,312 
Provision for credit losses 76  24  —  100 
Noninterest income
 322  164  5  491 
Noninterest expense
 788  300  29  1,117 
Provision (benefit) for income taxes
 97  77  (68) 106 
Income attributable to non-controlling interest —  6  —  6 
Net income (loss) attributable to Huntington $ 368  $ 284  $ (178) $ 474 
Three months ended June 30, 2023
Net interest income
 $ 933  $ 547  $ (134) $ 1,346 
Provision for credit losses
 64  28  —  92 
Noninterest income
 302  167  26  495 
Noninterest expense
 765  274  11  1,050 
Provision (benefit) for income taxes
 86  86  (38) 134 
Income attributable to non-controlling interest —  6  —  6 
Net income (loss) attributable to Huntington
$ 320  $ 320  $ (81) $ 559 
Six months ended June 30, 2024
Net interest income (loss)
 $ 1,963  $ 1,050  $ (414) $ 2,599 
Provision for credit losses 122  85  —  207 
Noninterest income 630  309  19  958 
Noninterest expense 1,565  594  95  2,254 
Provision (benefit) for income taxes 190  143  (141) 192 
Income attributable to non-controlling interest —  11  —  11 
Net income (loss) attributable to Huntington $ 716  $ 526  $ (349) $ 893 
Six months ended June 30, 2023
Net interest income $ 1,804  $ 1,088  $ (137) $ 2,755 
Provision for credit losses
 110  67  —  177 
Noninterest income 646  323  38  1,007 
Noninterest expense 1,519  552  65  2,136 
Provision (benefit) for income taxes 173  166  (61) 278 
Income attributable to non-controlling interest —  10  —  10 
Net income (loss) attributable to Huntington
 $ 648  $ 616  $ (103) $ 1,161 
Assets
Deposits
(dollar amounts in millions) At June 30, 2024 At December 31, 2023 At June 30, 2024 At December 31, 2023
Consumer & Regional Banking $ 75,298  $ 73,082  $ 110,913  $ 110,157 
Commercial Banking 63,107  63,377  38,110  35,466 
Treasury / Other 57,905  52,909  5,344  5,607 
Total
 $ 196,310  $ 189,368  $ 154,367  $ 151,230