$HBANZ

HUNTINGTON BANCSHARES INC /MD/

CIK:0000049196|SEC Filings

Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest and fee income:
Loans and leases	$ 2,772	$ 1,971	$ 5,290	$ 3,876
Available-for-sale securities
Taxable	285	278	543	565
Tax-exempt	34	31	67	65
Held-to-maturity securities—taxable	97	107	196	215
Other securities—taxable	17	12	33	24
Other	177	157	339	300
Total interest income	3,382	2,556	6,468	5,045
Interest expense:
Deposits	1,048	822	1,968	1,632
Short-term borrowings	18	13	34	27
Long-term debt	264	254	523	493
Total interest expense	1,330	1,089	2,525	2,152
Net interest income	2,052	1,467	3,943	2,893
Provision for credit losses	132	103	290	218
Net interest income after provision for credit losses	1,920	1,364	3,653	2,675
Noninterest income:
Noninterest income	785	471	1,467	965
Noninterest expense:
Personnel costs	1,010	722	2,002	1,393
Outside data processing and other services	326	182	637	352
Equipment	96	68	189	135
Net occupancy	90	54	175	119
Professional services	31	22	75	44
Marketing	38	28	75	57
Deposit and other insurance expense	38	20	73	57
Amortization of intangibles	54	11	95	22
Lease financing equipment depreciation	2	2	5	6
Other noninterest expense	124	88	257	164
Total noninterest expense	1,809	1,197	3,583	2,349
Income before income taxes	896	638	1,537	1,291
Provision for income taxes	165	96	279	218
Income after income taxes	731	542	1,258	1,073
Income attributable to non-controlling interest	4	6	8	10
Net income attributable to Huntington	727	536	1,250	1,063
Dividends on preferred shares	41	27	82	54
Net income applicable to common shares	$ 686	$ 509	$ 1,168	$ 1,009
Average common shares—basic (in shares)	2,021,373	1,457,309	1,945,805	1,455,904
Average common shares—diluted (in shares)	2,048,311	1,480,996	1,974,952	1,481,541
Per common share:
Net income—basic (in usd per share)	$ 0.34	$ 0.35	$ 0.60	$ 0.69
Net income—diluted (in usd per share)	$ 0.33	$ 0.34	$ 0.59	$ 0.68
Payments and cash management revenue
Noninterest income:
Noninterest income	$ 204	$ 165	$ 391	$ 320
Wealth and asset management revenue
Noninterest income:
Noninterest income	134	102	254	203
Customer deposit and loan fees
Noninterest income:
Noninterest income	128	95	238	181
Capital markets and advisory fees
Noninterest income:
Noninterest income	140	84	272	151
Mortgage banking income
Noninterest income:
Noninterest income	53	28	85	59
Leasing revenue
Noninterest income:
Noninterest income	21	19	42	39
Insurance income
Noninterest income:
Noninterest income	29	10	42	24
Net gains (losses) on sales of securities
Noninterest income:
Noninterest income	2	(58)	15	(58)
Other noninterest income
Noninterest income:
Noninterest income	$ 74	$ 26	$ 128	$ 46

Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Operating activities

Net income

$ 1,258

$ 1,073

Adjustments to reconcile net income to net cash provided by operating activities:

Provision for credit losses

290

218

Depreciation, amortization, and accretion

383

397

Share-based compensation expense

Deferred income tax benefit

(203)

(173)

Net gains on sales of securities

(15)

Net change in:

Trading account assets

(263)

(428)

Loans held for sale

289

(226)

Other assets

(1,132)

(210)

Short-term borrowings

191

403

Other liabilities

847

(81)

Other, net

(93)

(17)

Net cash provided by operating activities

1,647

1,067

Investing activities

Change in interest-earning deposits with banks

185

Proceeds from:

Maturities and calls of available-for-sale securities

9,137

2,694

Maturities and calls of held-to-maturity securities

882

925

Maturities and calls of other securities

419

Sales of available-for-sale securities

4,538

850

Sales of other securities

Purchases of available-for-sale securities

(13,917)

(3,907)

Purchases of held-to-maturity securities

(515)

Purchases of other securities

(553)

(120)

Net proceeds from sales of loans and leases

335

161

Principal payments received under direct finance leases

972

740

Net loan and lease activity, excluding sales and purchases

(4,848)

(5,861)

Purchases of premises and equipment

(220)

(108)

Purchases of loans and leases

(302)

(317)

Net accrued income and other receivables activity

(4)

532

Net cash and cash equivalents received from business combinations

1,680

Other, net

Net cash used in investing activities

(1,790)

(4,645)

Financing activities

Increase in deposits

2,326

932

Net change in short-term borrowings

182

(138)

Net proceeds from issuance of long-term debt

6,914

2,001

Repayment of long-term debt

(6,151)

(1,136)

Dividends paid on preferred stock

(84)

(54)

Dividends paid on common stock

(564)

(453)

Repurchases of common stock

(309)

Other, net

(67)

(62)

Net cash provided by financing activities

2,247

1,090

Increase (decrease) in cash and cash equivalents

2,104

(2,488)

Cash and cash equivalents at beginning of period

^[1]

13,495

12,847

Cash and cash equivalents at end of period

^[1]

15,599

10,359

Supplemental disclosures:

Interest paid

2,496

2,122

Income taxes paid

159

Non-cash activities

Loans transferred to held-for-sale from portfolio

983

168

Loans transferred to portfolio from held-for-sale

Veritex Holdings, Inc.

Business combination:

Fair value of tangible assets acquired

50,341

Goodwill and other intangible assets

4,502

Fair value of liabilities assumed

46,508

Common stock and equity-based awards issued

8,185

Preferred stock issued

$ 150

$ 0

[1]	Includes cash and due from banks and interest-earning deposits at the FRB, included within Interest-earning deposits with banks on our Unaudited Consolidated Balance Sheets.

Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions

Jun. 30, 2026

Dec. 31, 2025

Assets

Cash and due from banks

$ 3,330

$ 1,783

Interest-earning deposits with banks

12,714

12,295

Trading account assets

326

Available-for-sale securities

35,206

26,132

Held-to-maturity securities

14,384

15,258

Other securities

1,383

994

Loans held for sale (includes $1,287 and $885, respectively, measured at fair value)

1,886

1,415

Loans and leases (includes $164 and $167, respectively, measured at fair value)

189,422

149,642

Allowance for loan and lease losses

(3,249)

(2,537)

Net loans and leases

^[1]

186,173

147,105

Bank-owned life insurance

3,676

2,902

Accrued income and other receivables

2,960

2,621

Premises and equipment

2,171

1,321

Goodwill

9,527

5,997

Servicing rights and other intangible assets

1,691

752

Other assets

^[1]

8,557

6,468

Total assets

283,984

225,106

Deposits:

Demand deposits—noninterest-bearing

40,129

32,205

Interest-bearing

182,337

144,405

Total deposits

222,466

176,610

Short-term borrowings

3,111

1,261

Long-term debt

^[1]

18,738

17,221

Other liabilities

^[1]

7,004

5,635

Total liabilities

251,319

200,727

Commitments and Contingent Liabilities (Note 17)

Shareholders’ equity

Preferred stock

2,881

2,731

Common stock

Capital surplus

25,150

17,244

Less treasury shares, at cost

(94)

(92)

Accumulated other comprehensive income (loss)

(2,213)

(1,908)

Retained earnings

6,880

6,351

Total Huntington shareholders’ equity

32,624

24,342

Non-controlling interest

Total equity

32,665

24,379

Total liabilities and equity

$ 283,984

$ 225,106

Common shares authorized (in shares)

2,250,000,000

Common share outstanding (in shares)

2,020,414,826

1,567,732,506

Common shares issued (in shares)

2,020,414,826

1,567,732,506

Treasury shares outstanding (in shares)

7,152,410

7,187,541

Preferred stock, authorized shares (in shares)

6,617,808

Preferred shares outstanding (in shares)

891,900

885,000

[1]

Includes VIE balances in net loans and leases, other assets, long-term debt, and other liabilities of $493 million, $468 million, $428 million, and $134

million, respectively, at June 30, 2026, and $669 million, $431 million, $600 million, and $152 million, respectively, at December 31, 2025. See Note 16 -

“Variable Interest Entities” for additional information.