Q2 Results Highlighted by Growth in Key Strategic Fee Revenues and Net Interest Income and Successful Cadence Systems Conversion
 

2026 Second-Quarter Highlights:

• Earnings per common share (EPS) for the quarter was $0.33, higher by $0.08 from the prior quarter, and $0.01 lower than the year-ago quarter.
  • Excluding the after-tax impact of Notable Items as detailed in Table 2, adjusted EPS¹ was $0.39, higher by $0.02 from the prior quarter.
  • The prior year quarter included $0.04 of impact to EPS resulting from a $58 million decrease in pre-tax earnings from a securities repositioning and Notable Items that decreased pre-tax earnings by $3 million. Excluding the impact from these items, adjusted EPS¹ was higher by $0.01 from the year ago quarter.
• Successfully completed the systems conversion of Cadence Bank (“Cadence”) in mid-June.
• Net interest income increased $161 million, or 9%, from the prior quarter, and $585 million, or 40%, from the year-ago quarter. 
• Noninterest income increased $103 million, or 15%, from the prior quarter, to $785 million. From the year-ago quarter, noninterest income increased $314 million, or 67%.   
• Average total loans and leases increased $15.0 billion, or 9%, from the prior quarter to $189.3 billion and increased $56.1 billion, or 42%, from the year-ago quarter, inclusive of the impact of the Cadence and Veritex Holdings, Inc. (“Veritex”) acquisitions.
  • Average commercial loans grew $11.6 billion, or 11%, from the prior quarter and $44.4 billion, or 59%, from the year-ago quarter.
  • Average consumer loans grew $3.4 billion, or 5%, from the prior quarter and $11.7 billion, or 20%, from the year-ago quarter.
• Average total deposits increased $18.8 billion, or 9%, from the prior quarter and $60.0 billion, or 37%, from the year-ago quarter, inclusive of the impact of the Cadence and Veritex acquisitions. 
• Net charge-offs of 0.25% of average total loans and leases for the quarter, 1 basis point lower than the prior quarter and 5 basis points higher than the year ago quarter.
• Nonperforming asset ratio of 0.85% at quarter end, 13 basis points higher than the prior quarter.
• Allowance for credit losses (ACL) of $3.4 billion, or 1.78% of total loans and leases, at quarter end, an increase of $13 million from the prior quarter.
• Common Equity Tier 1 (CET1) risk-based capital ratio was 10.0%, at June 30, 2026, compared to 10.2% at the prior quarter end. Adjusted Common Equity Tier 1¹, including the impact of AOCI, excluding cash flow hedges, was 9.0%, compared to 9.2% at the prior quarter end.
• Tangible common equity (TCE)¹ ratio of 7.1%, up slightly from the prior quarter end and up from 6.6% a year ago.
• Tangible book value per share¹ of $9.65, up $0.10, or 1%, from the prior quarter and up $0.52, or 6%, from a year ago. 
• Repurchased $159 million of common shares in the second quarter, and $309 million of common shares year-to-date, representing approximately 19 million shares repurchased year‑to‑date.

COLUMBUS, Ohio, July 23, 2026 /PRNewswire/ — Huntington Bancshares Incorporated (Nasdaq: HBAN) reported net income for the 2026 second quarter of $727 million, or $0.33 per common share, an increase of $204 million, or 39%, from the prior quarter, and an increase of $191 million, or 36%, from the year-ago quarter, inclusive of $152 million of pre-tax Notable Items in the 2026 second quarter due to acquisition-related expenses. 

Return on average assets was 1.02%, return on average common equity was 9.3%, and return on average tangible common equity (ROTCE)¹ was 15.1% for the quarter, or 17.5% adjusted for Notable Items.

CEO Commentary:

“Building on a strong start to the year, Huntington delivered another solid quarter driven by disciplined execution and continued performance across our franchise,” said Steve Steinour, chairman, president, and CEO. “Growth in our legacy organization was outstanding, credit remains strong, and we are seeing early revenue synergies in Cadence markets. Our pipelines are robust as we enter the second half of 2026 and the operating environment remains constructive.”

“We delivered these results while executing a very successful Cadence systems conversion in June, marking the last major milestone in the integration. We have been very pleased with positive customer and colleague engagement. With the Veritex, Janney & TM Capital, and Cadence integrations behind us, we are well positioned to deliver the full economic benefits of our combined company. We have strong line of sight to the remaining cost synergies and we are actively driving revenue synergies. By the fourth quarter, the full earnings power of these partnerships will be clearly evident.

“Our balance sheet remains a source of strength, as demonstrated by our recent CCAR stress test results, and we are confident in our outlook. Supported by strong underlying business momentum and a differentiated super-regional model, we are positioned to achieve our financial targets, including sustained growth of earnings and tangible book value, and attractive returns for our shareholders.

Conference Call / Webcast Information

Huntington’s senior management will host an earnings conference call on July 23, 2026, at 9:00 a.m. (Eastern Time). The call may be accessed via a live Internet webcast at the Investor Relations section of Huntington’s website, www.huntington.com, or through a dial-in telephone number at (877) 407-8029; Conference ID #13761371. Slides will be available in the Investor Relations section of Huntington’s website about an hour prior to the call. A replay of the webcast will be archived in the Investor Relations section of Huntington’s website. A telephone replay will be available approximately two hours after the completion of the call through July 31, 2026 at (877) 660-6853 or (201) 612-7415; conference ID #13761371.

Please see the 2026 Second Quarter Quarterly Financial Supplement for additional detailed financial performance metrics. This document can be found on the Investor Relations section of Huntington’s website, http://www.huntington.com. 

About Huntington

Huntington Bancshares Incorporated is a $284 billion asset regional bank holding company headquartered in Columbus, Ohio. Founded in 1866, The Huntington National Bank and its affiliates provide consumers, small and middle‐market businesses, corporations, municipalities, and other organizations with a comprehensive suite of banking, payments, wealth management, and risk management products and services. Huntington operates over 1,400 branches in 21 states, with certain businesses operating in extended geographies. Visit Huntington.com for more information.

Caution Regarding Forward-Looking Statements

This communication may contain certain forward-looking statements, including, but not limited to, certain plans, expectations, goals, projections, and statements which are not historical facts and are subject to numerous assumptions, risks, estimates, and uncertainties that are beyond the control of Huntington. Statements that do not describe historical or current facts, including statements about beliefs and expectations, are forward-looking statements. Forward-looking statements may be identified by words such as expect, anticipate, continue, believe, intend, estimate, plan, trend, objective, target, goal, or similar expressions, or future or conditional verbs such as will, may, might, should, would, could, or similar variations. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995.

While there is no assurance that any list of risks and uncertainties or risk factors is complete, below are certain factors which could cause actual results to differ materially from those contained or implied in the forward-looking statements or historical performance: changes in general economic, political, regulatory, or industry conditions; deterioration in business and economic conditions, including persistent inflation, supply chain issues or labor shortages; instability in global economic conditions and geopolitical conditions, including U.S. direct involvement in war and other conflicts, as well as volatility in financial markets; changes in U.S. trade policies, including the imposition of tariffs and retaliatory tariffs; the impact of pandemics and other catastrophic events or disasters on the global economy and financial market conditions and our business, results of operations, and financial condition; the impacts related to or resulting from bank failures and other volatility, including potential increased regulatory requirements and costs, such as Federal Deposit Insurance Corporation (“FDIC”) special assessments, long-term debt requirements and heightened capital requirements; potential impacts to macroeconomic conditions, which could affect the ability of depository institutions, including us, to attract and retain depositors and to borrow or raise capital; unexpected outflows of deposits which may require us to sell investment securities at a loss; changing interest rates which could negatively impact the value of our portfolio of investment securities; the loss of value of our investment portfolio which could negatively impact market perceptions of us and could lead to deposit withdrawals; market perceptions of us and banks generally, including from the effects of social media; cybersecurity risks; uncertainty in U.S. fiscal and monetary policy, including the interest rate policies of the Board of Governors of the Federal Reserve System (“Federal Reserve”); volatility and disruptions in global capital, foreign exchange, and credit markets; movements in interest rates; competitive pressures on product pricing and services; success, impact, and timing of our business strategies, including market acceptance of any new products or services including those implementing our “Fair Play” banking philosophy; introduction of new competitive products, such as stablecoins, and new competitors, such as financial technology companies and other “nontraditional” bank competitors; changes in policies and standards for regulatory review of bank mergers; the nature, extent, timing, and results of governmental actions, examinations, reviews, reforms, regulations, and interpretations, including those related to the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Basel III regulatory capital reforms, as well as those involving the Securities and Exchange Commission (“SEC”), the Office of the Comptroller of the Currency, the Federal Reserve, the FDIC, the Consumer Financial Protection Bureau, and state-level regulators; the possibility that the anticipated benefits of recent or proposed acquisitions are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the companies or as a result of the strength of the economy and competitive factors in the areas where the companies do business; and other factors that may affect the future results of Huntington.

All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above. Forward-looking statements speak only as of the date they are made and are based on information available at that time. Huntington does not assume any obligation to update forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in circumstances or other factors affecting forward-looking statements that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws. If Huntington updates one or more forward-looking statements, no inference should be drawn that Huntington will make additional updates with respect to those or other forward-looking statements. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements. See also the other reports filed with the SEC, including discussions under the “Forward-Looking Statements” and “Risk Factors” of Huntington’s Annual Report on Form 10-K for the year ended December 31, 2025 and in its subsequent Quarterly Reports on Form 10-Q, including for the quarter ended March 31, 2026, as filed with the SEC and available on its website at www.sec.gov.

Basis of Presentation

Use of Non-GAAP Financial Measures

This document contains GAAP financial measures and non-GAAP financial measures where management believes it to be helpful in understanding Huntington’s results of operations or financial position. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found in this document, the financial supplement, conference call slides, or the Form 8-K related to this document, all of which can be found in the Investor Relations section of Huntington’s website, http://www.huntington.com. 

Annualized Data

Certain returns, yields, performance ratios, or quarterly growth rates are presented on an “annualized” basis. This is done for analytical and decision-making purposes to better discern underlying performance trends when compared to full-year or year-over-year amounts. For example, loan and deposit growth rates, as well as net charge-off percentages, are most often expressed in terms of an annual rate like 8%. As such, a 2% growth rate for a quarter would represent an annualized 8% growth rate.

Fully-Taxable Equivalent Interest Income and Net Interest Margin

Income from tax-exempt earning assets is increased by an amount equivalent to the taxes that would have been paid if this income had been taxable at statutory rates. This adjustment puts all earning assets, most notably tax-exempt municipal securities, and certain lease assets, on a common basis that facilitates comparison of results to results of competitors.

Rounding

Please note that items in this document may not add due to rounding.

Notable Items

From time to time, revenue, expenses, or taxes are impacted by items judged by management to be outside of ordinary banking activities and/or by items that, while they may be associated with ordinary banking activities, are so unusually large that their outsized impact is believed by management at that time to be infrequent or short term in nature. We refer to such items as “Notable Items.” Management believes it is useful to consider certain financial metrics with and without Notable Items, in order to enable a better understanding of company results, increase comparability of period-to-period results, and to evaluate and forecast those results.

 

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