COLUMBUS, Ohio, July 15, 2020 /PRNewswire/ -- Huntington
Bancshares Incorporated (Nasdaq: HBAN) has issued its 2019
Environmental, Social and Governance (ESG) Report, which
highlights how Huntington's
commitment to shareholders, customers, colleagues and communities
enables its purpose of looking out for people in a time of
increased economic uncertainty.
The ESG report provides a comprehensive review of Huntington's progress on performance
dimensions that drive sustainable, long-term value for investors
and support economic empowerment for customers and communities in
the Midwest.
"We're pleased to share how we're serving all our stakeholders
in the face of tremendous economic uncertainty," said Steve Steinour, chairman, president and CEO.
"Our purpose of making people's lives better, helping businesses
thrive and strengthening the communities we serve continues to
guide us in all we do. Our purpose is especially meaningful as we
examine our performance as a company and our larger role as a
corporate citizen committed to driving positive change."
Huntington's multi-year focus
on all aspects of ESG enabled the bank to help its customers and
communities navigate the COVID-19 pandemic, which has created
unprecedented economic concern and caused consumers and businesses
to seek partners who can provide the solutions they need to secure
their financial futures.
Huntington's historical
leadership and advocacy for small businesses positioned it to
support business owners through the Small Business Administration's
Paycheck Protection Program, part of the Coronavirus Aid, Relief,
and Economic Security (CARES) Act that became law in March 2020. As the No. 1 originator of SBA 7(a)
loans by volume in our footprint for 11 consecutive years,
Huntington leveraged its expertise
to help nearly 40,000 businesses secure loans totaling more than
$6 billion so they could continue
operations and maintain payroll during the pandemic.
"Small businesses are the lifeblood of the U.S. economy. Our
ability to leverage our sustained commitment to them when they
needed us most is perfectly aligned with our purpose of helping
businesses – and the communities they're in – thrive," Steinour
said.
Key highlights from the 2019 ESG report that illustrate the
progress Huntington is making
under its "Delivering on Our Purpose" approach to serving
stakeholders through ESG include:
- Reporting 2019 net income of $1.41
billion, with per-share earnings of $1.27, a 22.5 percent increase from 2018
- Increasing spending with diverse suppliers to $143.5 million, accounting for nearly 25 percent
of total spending, supporting nearly 2,000 jobs and representing
$103 million in supported wages
- Investing in Huntington
colleagues by raising the minimum wage to $17 per hour
Additional 2019 areas of focus that enabled Huntington's response on behalf of its
stakeholders include:
- Investing in Communities and Driving Economic Impact:
Huntington has fulfilled 93
percent of its five-year, $16.1
billion community development plan in just the third year.
In 2019, the bank committed nearly $1
billion in community development loans and investments to
increase affordable housing, home ownership and neighborhood
transformation across its Midwestern footprint. Reflecting its
commitment to serving low-to-moderate income (LMI) communities,
23.8 percent of Huntington's branches are in LMI
neighborhoods.
- Helping America's Small Businesses Thrive: In addition
to earning the top spot as the Midwest's largest SBA 7(a) program
lender* for 11 straight years, in 2019 Huntington led the nation in
the number of loans in this category for the second consecutive
year. Huntington helped nearly
3,600 small businesses secure SBA loans totaling $637.3 million. This commitment to small business
is further demonstrated by the bank's support for the Operation
HOPE Financial Education Platform, which provides entrepreneurs a
free step-by-step guide to beginning a business.
- Building a Diverse Workforce and Governance Structure:
Huntington strives to engage,
attract, develop and retain talent from all backgrounds, and its
workforce diversity is very closely aligned with the diversity of
the communities and markets it serves. In 2019, Huntington made significant progress toward
its goal of pay equity for all colleagues: the average base pay for
women colleagues with the same job titles as men was 99 percent of
that paid to men, and the average base pay for minority colleagues
with the same job titles as non-minority colleagues was 98 percent
of that paid to non-minorities. Huntington also achieved 66 percent total
workforce diversity and 43 percent diversity in middle and
executive management. The Huntington Board of Directors added three new
members in 2019, bringing the current total to 13, 12 of whom are
independent and represent a wide range of critical skills and
experiences. The board achieved 40 percent diversity in 2019.
- Promoting Environmental Stewardship: Huntington acknowledges that climate change is
a real issue. Energy conservation and environmental responsibility
are priorities for Huntington, and
the bank embraces responsible practices. In 2019, Huntington made substantial progress against
each of its 2022 sustainability goals for reductions in greenhouse
gas emissions, water use, landfill waste and paper printing. Based
on these strong results, the bank has established more aggressive
targets for 2022.
About Huntington
Huntington Bancshares
Incorporated is a regional bank holding company headquartered in
Columbus, Ohio, with $114 billion of assets and a network of 839
full-service branches, including 12 Private Client Group offices,
and 1,434 ATMs across seven Midwestern states. Founded in 1866, The
Huntington National Bank and its affiliates provide consumer, small
business, commercial, treasury management, wealth management,
brokerage, trust, and insurance services. Huntington also provides vehicle finance,
equipment finance, national settlement, and capital market services
that extend beyond its core states. Visit huntington.com for more
information.
*Loans subject to credit application and approval. SBA loans
subject to SBA eligibility. Huntington is the #1 SBA 7(a) lender in the
number of loans in the region made up of Illinois, Indiana, Kentucky, Ohio, Michigan, West
Virginia, Western
Pennsylvania and Wisconsin.
Source: U.S. Small Business Administration (SBA) from October 1, 2008 to September 30, 2019. Huntington is #1 in the nation in number of
SBA 7(a) loans for fiscal year ending September 30, 2019.
The Huntington National Bank is an Equal Housing Lender and
Member FDIC.
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