0000049196false00000491962023-10-202023-10-200000049196us-gaap:SeriesHPreferredStockMember2023-10-202023-10-200000049196hban:SeriesIPreferredStockMember2023-10-202023-10-200000049196hban:SeriesJPreferredStockMember2023-10-202023-10-200000049196us-gaap:CommonStockMember2023-10-202023-10-20

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 ______________________________________________________________________________________________________________________________
FORM 8-K
 _______________________________________________________________________________________________________________________________
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) October 20, 2023
 ______________________________________________________________________________________________________________________________
huntingtonlogo.jpg
Huntington Bancshares Incorporated
(Exact name of registrant as specified in its charter)
 _______________________________________________________________________________________________________________________________
Maryland1-3407331-0724920
(State or other jurisdiction of
incorporation or organization)		(Commission
File Number)		(I.R.S. Employer
Identification No.)
Registrant's address: 41 South High Street, Columbus, Ohio 43287
Registrant’s telephone number, including area code: (614) 480-2265
Not Applicable
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 _______________________________________________________________________________________________________________________________
Securities registered pursuant to Section 12(b) of the Act:
Title of classTrading
Symbol(s)		Name of exchange on which registered
Depositary Shares (each representing a 1/40th interest in a share of 4.500% Series H Non-Cumulative, perpetual preferred stock)HBANPNASDAQ
Depositary Shares (each representing a 1/1000th interest in a share of 5.70% Series I Non-Cumulative, perpetual preferred stock)HBANMNASDAQ
Depositary Shares (each representing a 1/40th interest in a share of 6.875% Series J Non-Cumulative, perpetual preferred stock)HBANLNASDAQ
Common Stock—Par Value $0.01 per ShareHBANNASDAQ
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§24012b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o


Item  2.02.     Results of Operations and Financial Condition.
On October 20, 2023, Huntington Bancshares Incorporated (“Huntington”) issued a news release announcing its earnings for the quarter ended September 30, 2023. Also on October 20, 2023, Huntington made a Quarterly Financial Supplement available in the Investor Relations section of Huntington’s website. Copies of Huntington's news release and quarterly financial supplement are attached hereto as Exhibit 99.1 and Exhibit 99.2, respectively, and are incorporated by reference in this Item 2.02.
Huntington’s senior management will host an earnings conference call on October 20, 2023, 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 #13741301. 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 October 28, 2023 at (877) 660-6853 or (201) 612-7415; conference ID #13741301.
The information contained or incorporated by reference in this Press Release on Form 8-K contains 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, and uncertainties. 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, believe, intend, estimate, plan, 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: changes in general economic, political, 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 matters, as well as volatility in financial markets; the impact of pandemics, including the COVID-19 pandemic and related variants and mutations, and their impact on the global economy and financial market conditions and our business, results of operations, and financial condition; the impacts related to or resulting from recent bank failures and other volatility, including potential increased regulatory requirements and costs, such as FDIC special assessments, long-term debt requirements and heightened capital requirements, and 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 uninsured deposits which may require us to sell investment securities at a loss; rising 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; the effects of social media on market perceptions of us and banks generally; cybersecurity risks; uncertainty in U.S. fiscal and monetary policy, including the interest rate policies of the Federal Reserve; volatility and disruptions in global capital and credit markets; movements in interest rates; transition away from LIBOR; 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; 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 OCC, Federal Reserve, FDIC, and CFPB; and other factors that may affect the future results of Huntington. Additional factors that could cause results to differ materially from those described above can be found in Huntington’s Annual Report on Form 10-K for the year ended December 31, 2022 and in subsequent Quarterly Reports on Form 10-Q for the quarters ended March 31, 2023 and June 30, 2023, each of which are on file with the Securities and Exchange Commission (the “SEC”) and available in the “Investor Relations” section of Huntington’s website http://www.huntington.com, under the heading “Publications and Filings” and in other documents Huntington files with the SEC.


All 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 circumstances or events 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. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements.
The information contained or incorporated by reference in Item 2.02 of this Form 8-K shall be treated as “furnished” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.


Item  9.01.     Financial Statements and Exhibits.
The exhibits referenced below shall be treated as “furnished” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.

(d)Exhibits.
Exhibit 99.1 – News release of Huntington Bancshares Incorporated, dated October 20, 2023.
Exhibit 99.2 – Quarterly Financial Supplement, September 30, 2023.

EXHIBIT INDEX
Exhibit No.Description
Exhibit 104
Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.



SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
HUNTINGTON BANCSHARES INCORPORATED
Date:October 20, 2023By:
/s/ Zachary Wasserman
Zachary Wasserman
Chief Financial Officer


Exhibit 99.1
huntingtonlogo.jpg


October 20, 2023
Analysts: Tim Sedabres (timothy.sedabres@huntington.com), 952.745.2766
Media: Tracy Pesho (corpmedia@huntington.com), 216.206.1525

HUNTINGTON BANCSHARES INCORPORATED REPORTS 2023 THIRD-QUARTER EARNINGS
Q3 Results Highlighted by Sustained Core Deposit Growth, Expansion of CET1 Capital, and Strong Credit Quality

2023 Third-Quarter Highlights:
•Earnings per common share (EPS) for the quarter were $0.35, flat from the prior quarter, and were lower by $0.04 from the year-ago quarter. Excluding the after tax impact of Notable Items, adjusted earnings per common share were $0.36.
•Net interest income increased $22 million, or 2%, from the prior quarter, and decreased $36 million, or 3%, from the year-ago quarter.
•Pre-Provision Net Revenue (PPNR) decreased $4 million from the prior quarter to $798 million, and decreased $59 million, or 7%, from the year-ago quarter. Excluding Notable Items, adjusted PPNR increased $6 million, or 1%, from the prior quarter to $813 million, and decreased $54 million, or 6%, from the year-ago quarter.
•Cash and cash equivalents and available contingent borrowing capacity of $91 billion at September 30, 2023, representing 204% of uninsured deposits.
•Average total deposits increased $2.6 billion, or 2%, from the prior quarter and $2.1 billion, or 1%, from the year-ago quarter.
◦Ending total deposits increased $839 million, or 1%, from the prior quarter and $2.6 billion, or 2%, from the year-ago quarter.
◦Ending core deposits increased $1.3 billion, or 1%, from the prior quarter reflecting continued momentum in consumer deposit gathering and ongoing focus on acquiring and deepening primary bank relationships.
•Average total loans and leases decreased $561 million from the prior quarter to $120.8 billion, and increased $3.8 billion, or 3%, from the year-ago quarter.
◦Average total commercial loans and leases decreased $1.2 billion, or 2%, and average total consumer loans increased $677 million, or 1%, from the prior quarter.
•Net charge-offs of 0.24% of average total loans and leases for the quarter, below the through the cycle target range.
•Nonperforming asset ratio of 0.52%.
•Allowance for credit losses (ACL) of $2.4 billion, or 1.96%, of total loans and leases at quarter end.
•Common Equity Tier 1 (CET1) risk-based capital ratio increased 28 basis points to 10.10%, continuing the trend of capital expansion.

1

•Tangible common equity (TCE) ratio decreased 10 basis points from the prior quarter to 5.70%, and increased 38 basis points from a year ago.
•Huntington was ranked first nationally for SBA 7(a) loan originations by volume for the sixth year in a row for SBA fiscal year 2023 and the 15th year in a row that Huntington has been the largest originator, by volume, of SBA 7(a) loans within footprint.

COLUMBUS, Ohio – Huntington Bancshares Incorporated (Nasdaq: HBAN) reported net income for the 2023 third quarter of $547 million, or $0.35 per common share, a decrease of $47 million, or $0.04, from the year-ago quarter.
Return on average assets was 1.16%, return on average common equity was 12.4%, return on average tangible common equity (ROTCE) was 19.5%.
CEO Commentary:
"We are pleased to deliver third quarter results highlighted by our top tier return profile and continued expansion of common equity tier 1 capital, which we drove to above 10%,” said Steve Steinour, chairman, president, and CEO. “We remain focused on executing our growth strategy, and leveraging the strength of our balance sheet to continue serving customers across the company. In the third quarter, we delivered another sequential increase in core deposits, further bolstered our leading liquidity position, added to our top tier credit reserves, and continued our disciplined management of credit quality consistent with our aggregate moderate-to-low risk appetite.

“Huntington is exceptionally well-positioned to thrive as we manage through the dynamic environment. We continue to deliver on our strategy while taking actions to position the company for sustained growth in the years ahead.

“Finally, we were once again named as the number one SBA lender in the U.S. for the sixth consecutive year for SBA 7(a) loan originations by volume. We are committed to helping small businesses by providing access to capital to support their growth."

2

Table 1 – Earnings Performance Summary
20232022
(in millions, except per share data)ThirdSecondFirstFourthThird
QuarterQuarterQuarterQuarterQuarter
Net income attributable to Huntington$547 $559 $602 $645 $594 
Diluted earnings per common share0.35 0.35 0.39 0.42 0.39 
Return on average assets1.16 %1.18 %1.32 %1.41 %1.31 %
Return on average common equity12.4 12.7 14.6 16.0 13.9 
Return on average tangible common equity19.5 19.9 23.1 26.0 21.9 
Net interest margin3.20 3.11 3.40 3.52 3.42 
Efficiency ratio57.0 55.9 55.6 54.0 54.4 
Tangible book value per common share$7.12 $7.33 $7.32 $6.82 $6.40 
Cash dividends declared per common share0.155 0.155 0.155 0.155 0.155 
Average earning assets$170,948 $174,909 $169,112 $165,545 $164,024 
Average loans and leases120,784 121,345 120,420 118,907 116,964 
Average core deposits143,110 140,736 141,077 140,696 141,691 
Tangible common equity / tangible assets ratio5.70 %5.80 %5.77 %5.55 %5.32 %
Common equity Tier 1 risk-based capital ratio10.10 9.82 9.55 9.36 9.27 
NCOs as a % of average loans and leases0.24 %0.16 %0.19 %0.17 %0.15 %
NAL ratio0.49 0.42 0.44 0.48 0.51 
ACL as a % of total loans and leases1.96 1.93 1.90 1.90 1.89 
Table 2 lists certain items that we believe are important to understanding corporate performance and trends (see Basis of Presentation). There were no Notable Items in the three months ended June 30, 2023.
Table 2 – Notable Items Influencing Earnings
Pretax Impact (1)
After-tax Impact (1)
($ in millions, except per share)AmountNet Income
EPS (2)
Three Months Ended September 30, 2023$547 $0.35 
•
Staffing efficiencies and corporate real estate consolidation expense (3)
$(15)$(12)$(0.01)
Three Months Ended March 31, 2023$602 $0.39 
•RPS sale (noninterest income)$57 $44 $0.03 
•
Voluntary retirement program and organizational realignment expense (noninterest expense) (4)
(42)(34)(0.02)
Three Months Ended September 30, 2022$594 $0.39 
•
Acquisition-related expenses (5)
$(10)$(8)$— 
(1)Favorable (unfavorable) impact.
(2)EPS reflected on a fully diluted basis.
(3)Staffing efficiencies and corporate real estate consolidation expense includes $8 million of severance related expense recorded in personnel costs and $7 million of corporate real estate consolidation expense recorded in net occupancy expense.
(4)Voluntary retirement program ($36 million) and organizational realignment expense ($6 million).
(5)Includes TCF and Capstone acquisition-related expenses.


3

Net Interest Income, Net Interest Margin, and Average Balance Sheet
Table 3 – Net Interest Income and Net Interest Margin Performance Summary
20232022
($ in millions)ThirdSecondFirstFourthThirdChange (%)
QuarterQuarterQuarterQuarterQuarterLQYOY
Net interest income$1,368 $1,346 $1,409 $1,462 $1,404 2 %(3)%
FTE adjustment11 11 9 9 8 — 38 
Net interest income - FTE1,379 1,357 1,418 1,471 1,412 2 (2)
Noninterest income509 495 512 499 498 3 2 
Total revenue - FTE$1,888 $1,852 $1,930 $1,970 $1,910 2 %(1)%
20232022
ThirdSecondFirstFourthThirdChange (bp)
Yield / CostQuarterQuarterQuarterQuarterQuarterLQYOY
Total earning assets5.39 %5.13 %4.89 %4.46 %3.86 %26 153 
Total loans and leases5.76 5.51 5.27 4.86 4.28 25 148 
Total securities4.15 3.82 3.56 3.26 2.74 33 141 
Total interest-bearing liabilities2.88 2.66 2.02 1.31 0.64 22 224 
Total interest-bearing deposits2.45 2.06 1.52 0.88 0.35 39 210 
Net interest rate spread2.51 2.47 2.87 3.15 3.22 4 (71)
Impact of noninterest-bearing funds on margin0.69 0.64 0.53 0.37 0.20 5 49 
Net interest margin3.20 %3.11 %3.40 %3.52 %3.42 %9 (22)
See Pages 8-9 of Quarterly Financial Supplement for additional detail.

Fully-taxable equivalent (FTE) net interest income for the 2023 third quarter decreased $33 million, or 2%, from the 2022 third quarter. The results primarily reflect a 22 basis point decrease in the net interest margin (NIM) to 3.20% and a $15.2 billion, or 13%, increase in average interest-bearing liabilities, partially offset by a $6.9 billion, or 4%, increase in average earning assets. The lower NIM was primarily driven by higher cost of funds and an increase in deposits held at the Federal Reserve Bank, partially offset by the higher rate environment driving an increase in loan and lease and investment security yields. The growth in average earning assets was primarily driven by higher cash balances and an increase in average loans and leases, partially offset by a decrease in average total securities. Net interest income in the 2023 third quarter included $6 million of net interest income from purchase accounting accretion, compared to $15 million in the 2022 third quarter.
Compared to the 2023 second quarter, FTE net interest income increased $22 million, or 2%, reflecting a 9 basis point increase in NIM and a decrease in average interest-bearing liabilities, partially offset by lower average earnings assets. The NIM increase was driven by higher loan and lease and investment security yields and lower deposits held at the Federal Reserve Bank, partially offset by higher cost of funds. Net interest income in the 2023 second quarter included $8 million of net interest income from purchase accounting accretion.

4


Table 4 – Average Earning Assets
20232022
($ in billions)ThirdSecondFirstFourthThirdChange (%)
QuarterQuarterQuarterQuarterQuarterLQYOY
Commercial and industrial$49.4 $50.2 $49.0 $47.5 $46.0 (1)%7 %
Commercial real estate13.0 13.3 13.7 13.9 13.7 (3)(5)
Lease financing5.1 5.2 5.2 5.1 5.0 (2)1 
Total commercial67.5 68.7 67.9 66.4 64.7 (2)4 
Residential mortgage23.3 22.8 22.3 22.0 21.6 2 8 
Automobile12.7 12.9 13.2 13.3 13.5 (1)(6)
Home equity10.1 10.2 10.3 10.4 10.4 — (3)
RV and marine5.8 5.5 5.4 5.4 5.5 6 7 
Other consumer1.4 1.3 1.3 1.3 1.3 4 4 
Total consumer53.3 52.7 52.5 52.5 52.3 1 2 
Total loans and leases120.8 121.3 120.4 118.9 117.0 — 3 
Total securities40.0 41.7 41.9 41.1 42.6 (4)(6)
Interest-bearing deposits at Federal Reserve Bank9.3 11.1 6.1 4.6 3.2 (16)190 
Other earning assets0.8 0.8 0.7 0.9 1.2 8 (32)
Total earning assets$170.9 $174.9 $169.1 $165.5 $164.0 (2)%4 %
See Page 7 of Quarterly Financial Supplement for additional detail.

Average earning assets for the 2023 third quarter increased $6.9 billion, or 4%, from the year-ago quarter, primarily reflecting a $6.1 billion, or 190%, increase in deposits at Federal Reserve Bank and a $3.8 billion, or 3%, increase in average total loans and leases, partially offset by a $2.6 billion, or 6%, decrease in average securities. Average loan and lease balance increases were led by growth in average commercial loans and leases of $2.8 billion, or 4%, primarily driven by a $3.4 billion, or 7% increase in average commercial and industrial loans. Also, average consumer loans increased $1.0 billion, or 2%.
Compared to the 2023 second quarter, average earning assets decreased $4.0 billion primarily reflecting a $1.8 billion, or 16%, decrease in average deposits at Federal Reserve Bank, a $1.7 billion, or 4%, decrease in average securities, and a $561 million decrease in average total loans and leases. Average loan and lease balance decreases were primarily due to lower average commercial loans and leases of $1.2 billion, or 2%, reflecting seasonality as well as optimization initiatives focused on the highest return loan growth. Partially offsetting this decrease, average consumer loans increased $677 million, or 1%, primarily due to residential mortgage loan growth.

5

Table 5 – Liabilities
20232022
ThirdSecondFirstFourthThirdChange (%)
($ in billions)QuarterQuarterQuarterQuarterQuarterLQYOY
Average balances:
Demand deposits - noninterest-bearing$32.8 $34.6 $37.5 $39.9 $42.1 (5)%(22)%
Demand deposits - interest-bearing39.8 39.7 40.7 42.7 42.1 0 (5)
Total demand deposits72.6 74.3 78.2 82.6 84.2 (2)(14)
Money market deposits41.4 38.8 37.3 34.4 34.1 7 22 
Savings and other domestic deposits17.8 18.8 19.9 20.8 21.4 (6)(17)
Core certificates of deposit11.3 8.8 5.7 2.9 2.0 29 456 
Total core deposits143.1 140.7 141.1 140.7 141.7 2 1 
Other domestic deposits of $250,000 or more0.4 0.3 0.2 0.2 0.2 27 110 
Negotiable CDs, brokered and other deposits
4.6 4.6 4.8 4.8 4.1 3 12 
Total deposits$148.1 $145.6 $146.1 $145.7 $146.0 2 %1 %
Short-term borrowings$0.9 $5.2 $4.4 $0.5 $2.6 (84)%(67)%
Long-term debt13.8 16.3 11.0 12.7 8.3 (15)67 
Total debt$14.7 $21.5 $15.4 $13.2 $10.9 (32)%35 %
Total interest-bearing liabilities$130.0 $132.5 $124.1 $119.0 $114.8 (2)%13 %
Period end balances:
Total core deposits$144.2 $142.9 $140.4 $142.1 $141.6 1 %2 %
Other deposits4.7 5.1 4.9 5.8 4.7 (10)0 
Total deposits$148.9 $148.0 $145.3 $147.9 $146.3 1 %2 %
See Pages 6-7 of Quarterly Financial Supplement for additional detail.

Average total interest-bearing liabilities for the 2023 third quarter increased $15.2 billion, or 13%, from the year-ago quarter. Average total debt increased $3.8 billion, or 35%, driven by higher long-term Federal Home Loan Bank (FHLB) borrowings and new debt issuances reflecting actions taken as part of normal management of funding needs. Average total deposits increased $2.1 billion, while average total core deposits increased $1.4 billion, or 1%. The average total core deposit increase was driven by higher average consumer deposits of $4.6 billion, or 6%, partially offset by lower average commercial core deposits of $3.2 billion, or 5%.
Compared to the 2023 second quarter, average total interest-bearing liabilities decreased $2.5 billion, or 2%. Average total debt decreased $6.9 billion, or 32%, driven by lower long and short-term FHLB borrowings reflecting management of funding needs. Average total deposits increased $2.6 billion, and average total core deposits increased $2.4 billion. The average total core deposit increase was primarily driven by higher average consumer core deposits of $1.6 billion, or 2%, and higher average commercial core deposits of $766 million, or 1%.
Ending total deposits as of September 30, 2023 increased $2.6 billion, or 2%, compared to a year-ago. The increase was driven by a $6.3 billion, or 8%, increase in core consumer deposits, partially offset by a $3.8 billion, or 6%, decrease in core commercial deposits.
Compared to June 30, 2023, ending total deposits increased $839 million, or 1%. The increase was driven by a $1.4 billion, or 2%, increase in consumer core deposits, partially offset by a $498 million decrease in other deposits.

6

Noninterest Income
Table 6 – Noninterest Income
20232022
ThirdSecondFirstFourthThirdChange (%)
($ in millions)QuarterQuarterQuarterQuarterQuarterLQYOY
Service charges on deposit accounts $97 $87 $83 $89 $93 11 %4 %
Card and payment processing income103 102 93 96 96 1 7 
Capital markets fees49 57 59 83 73 (14)(33)
Trust and investment management services62 68 62 61 60 (9)3 
Mortgage banking income27 33 26 25 26 (18)4 
Leasing revenue32 25 26 35 29 28 10 
Insurance income31 30 34 31 28 3 11 
Gain on sale of loans2 8 3 2 15 (75)(87)
Bank owned life insurance income18 16 16 15 13 13 38 
Net (losses) gains on sales of securities— (5)1 — — 100 — 
Other noninterest income88 74 109 62 65 19 35 
Total noninterest income$509 $495 $512 $499 $498 3 %2 %
Impact of Notable Item:
RPS sale (other noninterest income)$— $— $57 $— $— — — 
Total adjusted noninterest income (Non-GAAP)$509 $495 $455 $499 $498 3 %2 %
See Page 11 of Quarterly Financial Supplement for additional detail.

Reported total noninterest income for the 2023 third quarter increased $11 million, or 2%, from the year-ago quarter primarily reflecting higher other noninterest income driven by a $33 million increase from favorable mark-to-market on pay-fixed swaptions. Additional increases include card and payments processing of $7 million, or 7%, reflecting higher debit transaction revenue, bank owned life insurance income of $5 million, or 38%, and service charges on deposit accounts of $4 million, or 4%. Partially offsetting these increases was a decrease in capital markets fees of $24 million, or 33%, due to lower syndication fees and interest rate derivative fees. Additionally, gain on sale of loans decreased by $13 million, or 87%, primarily resulting from the strategic decision to retain SBA loans.
Total noninterest income increased $14 million, or 3%, to $509 million for the 2023 third quarter, compared to $495 million for the 2023 second quarter. The increase was primarily driven by a $15 million increase from favorable mark-to-market on pay-fixed swaptions. Additional increases include service charges on deposit accounts of $10 million, or 11%, driven by both commercial and consumer products and services, and leasing revenue of $7 million, or 28%, reflecting an increase on terminated leases. Partially offsetting these increases, capital market fees decreased $8 million, or 14%, due to lower interest rate derivative and foreign exchange fees, partially offset by higher advisory fees. Mortgage banking income decreased $6 million, or 18%, due to decreases in origination volume as well as lower saleable spreads. Gain on sale of loans decreased $6 million, or 75%, driven by lower loan sale activities.


7

Noninterest Expense
Table 7 – Noninterest Expense
20232022
ThirdSecondFirstFourthThirdChange (%)
($ in millions)QuarterQuarterQuarterQuarterQuarterLQYOY
Personnel costs$622 $613 $649 $630 $614 1 %1 %
Outside data processing and other services149 148 151 147 145 1 3 
Equipment65 64 64 67 60 2 8 
Net occupancy67 54 60 61 63 24 6 
Marketing29 32 25 22 24 (9)21 
Professional services27 21 16 21 18 29 50 
Deposit and other insurance expense25 23 20 14 15 9 67 
Amortization of intangibles12 13 13 13 13 (8)(8)
Lease financing equipment depreciation6 8 8 9 11 (25)(45)
Other noninterest expense88 74 80 93 90 19 (2)
Total noninterest expense$1,090 $1,050 $1,086 $1,077 $1,053 4 %4 %
(in thousands)
Average full-time equivalent employees19.8 20.2 20.2 20.0 20.0 (2)%(1)%

Table 8 - Impact of Notable Items
20232022
ThirdSecondFirstFourthThird
($ in millions)QuarterQuarterQuarterQuarterQuarter
Personnel costs$8 $— $42 $— $1 
Outside data processing and other services— — — 2 2 
Equipment— — — 2 1 
Net occupancy7 — — 10 6 
Professional services— — — 1 — 
Total noninterest expense$15 $— $42 $15 $10 
Table 9 - Adjusted Noninterest Expense (Non-GAAP)
20232022
ThirdSecondFirstFourthThirdChange (%)
($ in millions)QuarterQuarterQuarterQuarterQuarterLQYOY
Personnel costs$614 $613 $607 $630 $613 0 %0 %
Outside data processing and other services149 148 151 145 143 1 4 
Equipment65 64 64 65 59 2 10 
Net occupancy60 54 60 51 57 11 5 
Marketing29 32 25 22 24 (9)21 
Professional services27 21 16 20 18 29 50 
Deposit and other insurance expense25 23 20 14 15 9 67 
Amortization of intangibles12 13 13 13 13 (8)(8)
Lease financing equipment depreciation6 8 8 9 11 (25)(45)
Other noninterest expense88 74 80 93 90 19 (2)
Total adjusted noninterest expense$1,075 $1,050 $1,044 $1,062 $1,043 2 %3 %
        

8


Reported total noninterest expense for the 2023 third quarter increased $37 million, or 4%, from the year-ago quarter. Excluding the impact from Notable Items, noninterest expense increased $32 million, or 3%, primarily driven by higher deposit and other insurance expense of $10 million, or 67%, primarily due to the two basis point higher base assessment rate enacted for the industry at the beginning of the year, as well as balance sheet mix. Additionally, professional services expense increased by $9 million, or 50%, equipment expense increased by $6 million, or 10%, and outside data processing and other services increased by $6 million, or 4%.
Reported total noninterest expense increased $40 million, or 4%, from the 2023 second quarter. Excluding the impact from Notable Items, noninterest expense increased $25 million, or 2%, driven by an increase in net occupancy expense of $6 million, or 11%, including approximately $3 million of expenses related to the consolidation of 34 branch locations primarily expected to occur in the first quarter of 2024. Additionally, professional services expense was higher by $6 million, or 29%, and all other noninterest expense was higher by $14 million, or 19%, driven by numerous smaller increases including the benefit recorded in the second quarter from the gain on extinguishment of debt and higher franchise and other taxes in the third quarter.
Credit Quality
Table 10 – Credit Quality Metrics
20232022
($ in millions)September 30,June 30,March 31,December 31,September 30,
Total nonaccrual loans and leases$592 $510 $533 $569 $602 
Total other real estate, net14 18 20 11 11 
Other NPAs (1)
28 29 25 14 14 
Total nonperforming assets634 557 578 594 627 
Accruing loans and leases past due 90+ days163 169 185 207 223 
NPAs + accruing loans & leases past due 90+ days$797 $726 $763 $801 $850 
NAL ratio (2)
0.49 %0.42 %0.44 %0.48 %0.51 %
NPA ratio (3)
0.52 0.46 0.48 0.50 0.53 
(NPAs+90 days)/(Loans+OREO)0.66 0.60 0.63 0.67 0.72 
Provision for credit losses$99 $92 $85 $91 $106 
Net charge-offs73 49 57 50 44 
Net charge-offs / Average total loans and leases0.24 %0.16 %0.19 %0.17 %0.15 %
Allowance for loans and lease losses (ALLL)$2,208 $2,177 $2,142 $2,121 $2,110 
Allowance for unfunded lending commitments160 165 157 150 120 
Allowance for credit losses (ACL)$2,368 $2,342 $2,299 $2,271 $2,230 
ALLL as a % of:
Total loans and leases1.83 %1.80 %1.77 %1.77 %1.79 %
NALs373 427 402 373 351 
NPAs348 391 371 357 336 
ACL as a % of:
Total loans and leases1.96 %1.93 %1.90 %1.90 %1.89 %
NALs400 459 431 400 371 
NPAs373 420 398 382 355 
(1)Other nonperforming assets include certain impaired securities and/or nonaccrual loans held-for-sale.
(2)Total NALs as a % of total loans and leases.
(3)Total NPAs as a % of sum of loans and leases, other real estate owned, and other NPAs.
See Pages 12-15 of Quarterly Financial Supplement for additional detail.

9

Nonperforming assets (NPAs) were $634 million, or 0.52%, of total loans and leases, OREO and other NPAs, compared to $627 million, or 0.53%, a year-ago. Nonaccrual loans and leases (NALs) were $592 million, or 0.49% of total loans and leases, compared to $602 million, or 0.51% of total loans and leases, a year-ago. On a linked quarter basis, NPAs increased $77 million, or 14%, and NALs increased $82 million, or 16%, driven by an increase in commercial NALs.
The provision for credit losses decreased $7 million year-over-year and increased $7 million quarter-over-quarter to $99 million in the 2023 third quarter. Net charge-offs (NCOs) increased $29 million year-over-year and increased $24 million quarter-over-quarter to $73 million. NCOs represented an annualized 0.24% of average loans and leases in the current quarter, up from 0.15% in the year-ago quarter and from 0.16% in the prior quarter. The increase in NCOs year-over-year reflects the continued normalization of net charge-offs. Commercial and consumer net charge-offs remained low at 0.27% and 0.21%, respectively, for the 2023 third quarter.
The allowance for loan and lease losses (ALLL) increased $98 million from the year-ago quarter to $2.2 billion, or 1.83%, and allowance for credit losses (ACL) increased by $138 million from the year-ago quarter to $2.4 billion, or 1.96% of total loans and leases, driven by a combination of loan and lease growth and increasing coverage levels that recognize the near-term recessionary risks. On a linked quarter basis, the ACL increased $26 million, resulting in the ACL coverage ratio increasing 3 basis points, to 1.96%.

Capital
Table 11 – Capital Ratios
20232022
($ in billions)September 30,June 30,March 31,December 31,September 30,
Tangible common equity / tangible assets ratio5.70 %5.80 %5.77 %5.55 %5.32 %
Common equity tier 1 risk-based capital ratio (1)
10.10 9.82 9.55 9.36 9.27 
Regulatory Tier 1 risk-based capital ratio (1)
11.88 11.58 11.30 10.90 10.84 
Regulatory Total risk-based capital ratio (1)
14.11 13.82 13.53 13.09 13.05 
Total risk-weighted assets (1)
$140.7 $141.4 $142.3 $141.9 $138.8 
(1)September 30, 2023 figures are estimated. Amounts are presented on a Basel III standardized approach basis for calculating risk-weighted assets. The capital ratios reflect Huntington’s 2020 election of a five-year transition to delay for two years the full impact of CECL on regulatory capital, followed by a three-year transition period. As of March 31, 2023, June 30, 2023, and September 30, 2023, 50% of the cumulative CECL deferral has been phased in. As of September 30, 2022, and December 31, 2022, 25% of the cumulative CECL deferral has been phased in.
See Page 16 of Quarterly Financial Supplement for additional detail.

The tangible common equity to tangible assets ratio was 5.70% at September 30, 2023, a decrease of 10 basis points from last quarter due primarily to accumulated other comprehensive income changes, partially offset by current period earnings and lower tangible assets. Common Equity Tier 1 (CET1) risk-based capital ratio was 10.10%, up from 9.82% from the prior quarter primarily due to current period earnings and a decline in risk-weighted assets.

Income Taxes
The provision for income taxes was $136 million in the 2023 third quarter compared to $134 million in the 2023 second quarter. The effective tax rate for the 2023 third quarter and 2023 second quarter were 19.7% and 19.3%, respectively.
At September 30, 2023, we had a net federal deferred tax asset of $570 million and a net state deferred tax asset of $108 million.


10

Conference Call / Webcast Information
Huntington’s senior management will host an earnings conference call on October 20, 2023, 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 #13741301. 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 October 28, 2023 at (877) 660-6853 or (201) 612-7415; conference ID #13741301.
Please see the 2023 Third 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 $187 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 more than 1,000 branches in 11 states, with certain businesses operating in extended geographies. Visit Huntington.com for more information.
Caution regarding Forward-Looking Statements
The information contained or incorporated by reference in this Press Release on Form 8-K contains 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, and uncertainties. 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, believe, intend, estimate, plan, 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: changes in general economic, political, 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 matters, as well as volatility in financial markets; the impact of pandemics, including the COVID-19 pandemic and related variants and mutations, and their impact on the global economy and financial market conditions and our business, results of operations, and financial condition; the impacts related to or resulting from recent bank failures and other volatility, including potential increased regulatory requirements and costs, such as FDIC special assessments, long-term debt requirements and heightened capital requirements, and 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 uninsured deposits which may require us to sell investment securities at a loss; rising 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; the effects of social media on market perceptions of us and banks generally; cybersecurity risks; uncertainty in U.S. fiscal and monetary policy, including the interest rate policies of the Federal Reserve; volatility and disruptions in global capital and credit markets; movements in interest rates; transition away from LIBOR; 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; the nature, extent, timing, and results of governmental actions, examinations,

11

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 OCC, Federal Reserve, FDIC, and CFPB; and other factors that may affect the future results of Huntington. Additional factors that could cause results to differ materially from those described above can be found in Huntington’s Annual Report on Form 10-K for the year ended December 31, 2022 and Quarterly Report on Form 10-Q for the quarters ended March 31, 2023 and June 30, 2023, which are on file with the Securities and Exchange Commission (the “SEC”) and available in the “Investor Relations” section of Huntington’s website http://www.huntington.com, under the heading “Publications and Filings” and in other documents Huntington files with the SEC.
All 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 circumstances or events 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. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements.

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 columns of data 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.

12

Exhibit 99.2
HUNTINGTON BANCSHARES INCORPORATED
Quarterly Financial Supplement
September 30, 2023
Table of Contents
Quarterly Accruing Past Due Loans and Leases


Notes:
The preparation of financial statement data in conformity with accounting principles generally accepted in the United States (GAAP) requires management to make estimates and assumptions that affect amounts reported. Actual results could differ from those estimates. Certain prior period amounts have been reclassified to conform to the current period’s presentation.
Fully-Taxable Equivalent Basis
Interest income, yields, and ratios on a FTE basis are considered non-GAAP financial measures.  Management believes net interest income on a FTE basis provides a more accurate picture of the interest margin for comparison purposes.  The FTE basis also allows management to assess the comparability of revenue arising from both taxable and tax-exempt sources.  The FTE basis assumes a federal statutory tax rate of 21%.
Non-Regulatory Capital Ratios
In addition to capital ratios defined by banking regulators, the Company considers various other measures when evaluating capital utilization and adequacy, including:
•Tangible common equity to tangible assets, and
•Tangible common equity to risk-weighted assets using Basel III definition.
These non-regulatory capital ratios are viewed by management as useful additional methods of reflecting the level of capital available to withstand unexpected market conditions. Additionally, presentation of these ratios allows readers to compare the Company’s capitalization to other financial services companies. These ratios differ from capital ratios defined by banking regulators principally in that the numerator excludes preferred securities, the nature and extent of which varies among different financial services companies. These ratios are not defined in GAAP or federal banking regulations. As a result, these non-regulatory capital ratios disclosed by the Company may be considered non-GAAP financial measures.
Because there are no standardized definitions for these non-regulatory capital ratios, the Company’s calculation methods may differ from those used by other financial services companies. Also, there may be limits in the usefulness of these measures to investors. As a result, the Company encourages readers to consider the consolidated financial statements and other financial information contained in the related press release in their entirety, and not to rely on any single financial measure.





Huntington Bancshares Incorporated
Quarterly Key Statistics
(Unaudited)
Three Months Ended
(dollar amounts in millions, except per share data)September 30,June 30,September 30,Percent Changes vs.
2023202320222Q233Q22
Net interest income (1)
$1,379 $1,357 $1,412 2 %(2)%
FTE adjustment(11)(11)(8)— (38)
Net interest income
1,368 1,346 1,404 2 (3)
Provision for credit losses99 92 106 8 (7)
Noninterest income509 495 498 3 2 
Noninterest expense1,090 1,050 1,053 4 4 
Income before income taxes688 699 743 (2)(7)
Provision for income taxes136 134 146 1 (7)
Income after income taxes552 565 597 (2)(8)
Income attributable to non-controlling interest5 6 3 (17)67 
Net income attributable to Huntington547 559 594 (2)(8)
Dividends on preferred shares37 40 29 (8)28 
Net income applicable to common shares$510 $519 $565 (2)%(10)
Net income per common share - diluted$0.35 $0.35 $0.39 — %(10)%
Cash dividends declared per common share
0.155 0.155 0.155 — — 
Tangible book value per common share at end of period
7.12 7.33 6.40 (3)11 
Average common shares - basic
1,448 1,446 1,443 — — 
Average common shares - diluted
1,468 1,466 1,465 — — 
Ending common shares outstanding
1,448 1,448 1,443 — — 
Return on average assets
1.16 %1.18 %1.31 %
Return on average common shareholders’ equity
12.4 12.7 13.9 
Return on average tangible common shareholders’ equity (2)
19.5 19.9 21.9 
Net interest margin (1)
3.20 3.11 3.42 
Efficiency ratio (3)
57.0 55.9 54.4 
Effective tax rate19.7 19.3 19.7 
Average total assets
$186,599 $190,746 $179,557 (2)4 
Average earning assets
170,948 174,909 164,024 (2)4 
Average loans and leases
120,784 121,345 116,964 — 3 
Average total deposits
$148,150 $145,559 $146,008 2 1 
Average core deposits (4) 143,110 140,736 141,691 2 1 
Average Huntington shareholders’ equity 18,741 18,844 18,317 (1)2 
Average common total shareholders' equity
16,256 16,359 16,150 (1)1 
Average tangible common shareholders' equity
10,568 10,662 10,413 (1)1 
Total assets at end of period
186,650 188,505 179,402 (1)4 
Total Huntington shareholders’ equity at end of period 18,483 18,788 17,136 (2)8 
NCOs as a % of average loans and leases
0.24 %0.16 %0.15 %
NAL ratio
0.49 0.42 0.51 
NPA ratio (5)0.52 0.46 0.53 
Allowance for loan and lease losses (ALLL) as a % of total loans and leases at the end of period
1.83 1.80 1.79 
Allowance for credit losses (ACL) as a % of total loans and leases at the end of period1.96 1.93 1.89 
Common equity tier 1 risk-based capital ratio (6)10.10 9.82 9.27 
Tangible common equity / tangible asset ratio (7)5.70 5.80 5.32 
See Notes to the Quarterly and Year to Date Key Statistics.
1

Huntington Bancshares Incorporated
Year to Date Key Statistics
(Unaudited)
Nine Months Ended September 30,Change
(dollar amounts in millions, except per share data)20232022AmountPercent
Net interest income (1)
$4,154 $3,833 $321 8 %
FTE adjustment(31)(22)(9)(41)
Net interest income
4,123 3,811 312 8 
Provision for credit losses276 198 78 39 
Noninterest income1,516 1,482 34 2 
Noninterest expense3,226 3,124 102 3 
Income before income taxes
2,137 1,971 166 8 
Provision for income taxes414 371 43 12 
Income after income taxes1,723 1,600 123 8 
Income attributable to non-controlling interest15 7 8 114 
Net income attributable to Huntington1,708 1,593 115 7 
Dividends on preferred shares106 85 21 25 
Net income applicable to common shares
$1,602 $1,508 $94 6 %
Net income per common share - diluted
$1.09 $1.03 $0.06 6 %
Cash dividends declared per common share
0.465 0.465 — — 
Average common shares - basic
1,446 1,441 5 — 
Average common shares - diluted
1,468 1,464 4 — 
Return on average assets
1.22 %1.20 %
Return on average common shareholders’ equity
13.2 12.3 
Return on average tangible common shareholders’ equity (2)
20.8 19.1 
Net interest margin (1)
3.24 3.15 
Efficiency ratio (3)
56.2 58.0 
Effective tax rate
19.4 18.8 
Average total assets
$187,419 $177,917 $9,502 5 %
Average earning assets
171,663 162,560 9,103 6 
Average loans and leases
120,851 114,039 6,812 6 
Average total deposits
146,625 144,656 1,969 1 
Average core deposits (4) 141,648 140,890 758 1 
Average Huntington shareholders’ equity 18,607 18,534 73 — 
Average common total shareholders' equity
16,197 16,367 (170)(1)
Average tangible common shareholders' equity
10,496 10,754 (258)(2)
NCOs as a % of average loans and leases
0.20 %0.08 %
NAL ratio
0.49 0.51 
NPA ratio (5)0.52 0.53 
See Notes to the Quarterly and Year to Date Key Statistics.

2

Notes to the Quarterly and Year to Date Key Statistics
(1)On a fully-taxable equivalent (FTE) basis assuming a 21% tax rate.
(2)Net income applicable to common shares excluding expense for amortization of intangibles for the period divided by average tangible common shareholders’ equity. Average tangible common shareholders’ equity equals average total common shareholders’ equity less average intangible assets and goodwill. Expense for amortization of intangibles and average intangible assets are net of deferred tax liability, and calculated assuming a 21% tax rate.
(3)Noninterest expense less amortization of intangibles divided by the sum of FTE net interest income and noninterest income excluding securities gains (losses).
(4)Includes noninterest-bearing and interest-bearing demand deposits, money market deposits, savings and other domestic deposits, and core certificates of deposit.
(5)NPAs include other nonperforming assets, which includes certain impaired securities and/or nonaccrual loans held for sale, and other real estate owned.
(6)September 30, 2023, figures are estimated.
(7)Tangible common equity (total common equity less goodwill and other intangible assets) divided by tangible assets (total assets less goodwill and other intangible assets). Other intangible assets are net of deferred tax liability, calculated at a 21% tax rate.
3

Huntington Bancshares Incorporated
Consolidated Balance Sheets
September 30,December 31,
(dollar amounts in millions)20232022
Percent Changes
(Unaudited)
Assets
Cash and due from banks
$1,602 $1,796 (11)%
Interest-bearing deposits at Federal Reserve Bank9,833 4,908 100 
Interest-bearing deposits in banks
258 214 21 
Trading account securities
121 19 537 
Available-for-sale securities
21,863 23,423 (7)
Held-to-maturity securities
16,148 17,052 (5)
Other securities
718 854 (16)
Loans held for sale
603 529 14 
Loans and leases (1)
120,853 119,523 1 
Allowance for loan and lease losses
(2,208)(2,121)(4)
Net loans and leases
118,645 117,402 1 
Bank owned life insurance
2,757 2,753 — 
Accrued income and other receivables1,496 1,573 (5)
Premises and equipment
1,096 1,156 (5)
Goodwill
5,561 5,571 — 
Servicing rights and other intangible assets718 712 1 
Other assets
5,231 4,944 6 
Total assets
$186,650 $182,906 2 %
Liabilities and shareholders' equity
Liabilities
Deposits (2)
$148,867 $147,914 1 %
Short-term borrowings
681 2,027 (66)
Long-term debt
12,822 9,686 32 
Other liabilities
5,750 5,510 4 
Total liabilities
168,120 165,137 2 
Shareholders' equity
Preferred stock
2,484 2,167 15 
Common stock
15 14 7 
Capital surplus
15,363 15,309 — 
Less treasury shares, at cost
(91)(80)(14)
Accumulated other comprehensive income (loss)(3,622)(3,098)(17)
Retained earnings4,334 3,419 27 
Total Huntington shareholders’ equity18,483 17,731 4 
Non-controlling interest47 38 24 
Total equity18,530 17,769 4 
Total liabilities and equity$186,650 $182,906 2 %
Common shares authorized (par value of $0.01)
2,250,000,000 2,250,000,000 
Common shares outstanding
1,448,075,093 1,443,068,036 
Treasury shares outstanding
7,391,874 6,322,052 
Preferred stock, authorized shares
6,617,808 6,617,808 
Preferred shares outstanding
882,500 557,500 
(1)See page 5 for detail of loans and leases.
(2)See page 6 for detail of deposits.
4

Huntington Bancshares Incorporated
Loans and Leases Composition
(Unaudited)
September 30,June 30,March 31,December 31,September 30,
(dollar amounts in millions)20232023202320222022
Ending balances by type:
Total loans and leases
Commercial:
Commercial and industrial$49,422 41 %$49,834 41 %$50,039 42 %$48,121 41 %$46,724 40 %
Commercial real estate:
Commercial
11,365 10 11,750 10 12,132 10 12,138 10 12,137 10 
Construction
1,303 1 1,416 1 1,255 1 1,502 1 1,739 2 
Commercial real estate12,668 11 13,166 11 13,387 11 13,640 11 13,876 12 
Lease financing5,161 4 5,143 4 5,244 4 5,252 4 5,093 4 
Total commercial
67,251 56 68,143 56 68,670 57 67,013 56 65,693 56 
Consumer:
Residential mortgage23,427 19 23,138 19 22,472 19 22,226 19 21,816 18 
Automobile
12,724 11 12,819 11 13,187 11 13,154 11 13,430 11 
Home equity
10,118 8 10,135 8 10,166 8 10,375 9 10,440 9 
RV and marine
5,937 5 5,640 5 5,404 4 5,376 4 5,436 5 
Other consumer
1,396 1 1,350 1 1,280 1 1,379 1 1,332 1 
Total consumer
53,602 44 53,082 44 52,509 43 52,510 44 52,454 44 
Total loans and leases
$120,853 100 %$121,225 100 %$121,179 100 %$119,523 100 %$118,147 100 %
September 30,June 30,March 31,December 31,September 30,
(dollar amounts in millions)20232023202320222022
Ending balances by business segment:
Consumer & Regional Banking$66,202 55 %$65,374 54 %$64,387 53 %$64,080 54 %$63,603 54 %
Commercial Banking54,451 45 55,672 46 56,599 47 55,304 46 54,320 46 
Treasury / Other200 — 179 — 193 — 139 — 224 — 
Total loans and leases$120,853 100 %$121,225 100 %$121,179 100 %$119,523 100 %$118,147 100 %
Average balances by business segment:
Consumer & Regional Banking$65,738 55 %$64,782 54 %$64,209 54 %$63,836 54 %$63,468 55 %
Commercial Banking54,873 45 56,375 46 55,919 46 54,789 46 53,067 45 
Treasury / Other173 — 188 — 292 — 282 — 429 — 
Total loans and leases
$120,784 100 %$121,345 100 %$120,420 100 %$118,907 100 %$116,964 100 %
5

Huntington Bancshares Incorporated
Deposits Composition
(Unaudited)
September 30,June 30,March 31,December 31,September 30,
(dollar amounts in millions)20232023202320222022
Ending balances:
Total deposits by type:
Demand deposits - noninterest-bearing$31,666 21 %$33,340 23 %$36,789 25 %$38,242 26 %$40,762 28 %
Demand deposits - interest-bearing39,822 27 40,387 27 39,827 28 43,136 29 43,673 30 
Money market deposits42,996 29 40,534 28 37,276 26 36,082 24 33,811 23 
Savings and other domestic deposits17,350 12 18,294 12 19,546 13 20,357 14 21,274 15 
Core certificates of deposit (1)12,372 8 10,314 7 6,981 5 4,324 3 2,115 1 
Total core deposits144,206 97 142,869 97 140,419 97 142,141 96 141,635 97 
Other domestic deposits of $250,000 or more446 — 381 — 282 — 220 — 186 — 
Negotiable CDS, brokered and other deposits
4,215 3 4,778 3 4,577 3 5,553 4 4,492 3 
Total deposits$148,867 100 %$148,028 100 %$145,278 100 %$147,914 100 %$146,313 100 %
Total core deposits:
Commercial$61,379 43 %$61,450 43 %$61,132 44 %$64,107 45 %$65,151 46 %
Consumer82,827 57 81,419 57 79,287 56 78,034 55 76,484 54 
Total core deposits$144,206 100 %$142,869 100 %$140,419 100 %$142,141 100 %$141,635 100 %
Total deposits by business segment:
Consumer & Regional Banking$108,183 73 %$106,502 72 %$105,339 72 %$105,064 71 %$104,716 72 %
Commercial Banking36,023 24 36,459 25 34,660 24 36,807 25 36,487 25 
Treasury / Other4,661 3 5,067 3 5,279 4 6,043 4 5,110 3 
Total deposits$148,867 100 %$148,028 100 %$145,278 100 %$147,914 100 %$146,313 100 %
Average balances:
Total core deposits:
Commercial$62,070 43 %$61,304 44 %$63,423 45 %$65,128 46 %$65,278 46 %
Consumer81,040 57 79,432 56 77,654 55 75,568 54 76,414 54 
Total core deposits$143,110 100 %$140,736 100 %$141,077 100 %$140,696 100 %$141,692 100 %
Average deposits by business segment:
Consumer & Regional Banking$106,300 72 %$104,593 71 %$104,151 71 %$103,820 71 %$105,174 72 %
Commercial Banking36,673 25 35,752 25 36,288 25 36,260 25 35,880 25 
Treasury / Other5,177 3 5,214 4 5,705 4 5,592 4 4,954 3 
Total deposits$148,150 100 %$145,559 100 %$146,144 100 %$145,672 100 %$146,008 100 %
(1)Includes consumer certificates of deposit of $250,000 or more.


6

Huntington Bancshares Incorporated
Consolidated Quarterly Average Balance Sheets
(Unaudited)
Quarterly Average Balances (1)
September 30,June 30,March 31,December 31,September 30,Percent Changes vs.
(dollar amounts in millions)202320232023202220222Q233Q22
Assets
Interest-bearing deposits at Federal Reserve Bank $9,286 $11,052 $6,101 $4,615 $3,204 (16)190 
Interest-bearing deposits in banks
261 229 249 305 260 14 — 
Securities:
Trading account securities
128 34 21 29 24 276 433 
Available-for-sale securities:
Taxable
19,834 20,920 21,368 20,467 21,677 (5)(9)
Tax-exempt
2,807 2,745 2,640 2,706 2,917 2 (4)
Total available-for-sale securities
22,641 23,665 24,008 23,173 24,594 (4)(8)
Held-to-maturity securities - taxable
16,356 16,762 16,977 17,022 17,188 (2)(5)
Other securities859 1,263 886 857 804 (32)7 
Total securities
39,984 41,724 41,892 41,081 42,610 (4)(6)
Loans held for sale633 559 450 637 986 13 (36)
Loans and leases: (2)
Commercial:
Commercial and industrial
49,448 50,194 49,028 47,505 46,029 (1)7 
Commercial real estate:
Commercial
11,624 12,062 12,282 12,179 11,974 (4)(3)
Construction
1,331 1,280 1,400 1,676 1,697 4 (22)
Commercial real estate
12,955 13,342 13,682 13,855 13,671 (3)(5)
Lease financing5,050 5,155 5,209 5,080 4,981 (2)1 
Total commercial
67,453 68,691 67,919 66,440 64,681 (2)4 
Consumer:
Residential mortgage
23,278 22,765 22,327 22,011 21,552 2 8 
Automobile12,747 12,927 13,245 13,284 13,514 (1)(6)
Home equity10,108 10,154 10,258 10,417 10,431 — (3)
RV and marine 5,813 5,478 5,366 5,408 5,454 6 7 
Other consumer
1,385 1,330 1,305 1,347 1,332 4 4 
Total consumer
53,331 52,654 52,501 52,467 52,283 1 2 
Total loans and leases
120,784 121,345 120,420 118,907 116,964 — 3 
Total earning assets
170,948 174,909 169,112 165,545 164,024 (2)4 
Cash and due from banks
1,559 1,639 1,598 1,650 1,697 (5)(8)
Goodwill and other intangible assets5,722 5,734 5,759 5,771 5,781 — (1)
All other assets
10,576 10,638 10,568 10,458 10,154 (1)4 
Allowance for loan and lease losses
(2,206)(2,174)(2,143)(2,132)(2,099)(1)(5)
Total assets
$186,599 $190,746 $184,894 $181,292 $179,557 (2)%4 %
Liabilities and shareholders' equity
Interest-bearing deposits:
Demand deposits - interest-bearing
$39,757 $39,772 $40,654 $42,705 $42,038 — %(5)%
Money market deposits
41,445 38,753 37,301 34,390 34,058 7 22 
Savings and other domestic deposits
17,774 18,826 19,877 20,831 21,439 (6)(17)
Core certificates of deposit (3)
11,348 8,820 5,747 2,926 2,040 29 456 
Other domestic deposits of $250,000 or more
406 320 252 198 193 27 110 
Negotiable CDS, brokered and other deposits
4,634 4,502 4,815 4,777 4,124 3 12 
Total interest-bearing deposits
115,364 110,993 108,646 105,827 103,892 4 11 
Short-term borrowings
859 5,242 4,371 545 2,609 (84)(67)
Long-term debt
13,772 16,252 11,047 12,650 8,251 (15)67 
Total interest-bearing liabilities
129,995 132,487 124,064 119,022 114,752 (2)13 
Demand deposits - noninterest-bearing
32,786 34,566 37,498 39,845 42,116 (5)(22)
All other liabilities
5,028 4,796 5,056 4,929 4,340 5 16 
Total liabilities167,809 171,849 166,618 163,796 161,208 (2)4 
Total Huntington shareholders’ equity18,741 18,844 18,231 17,458 18,317 (1)2 
Non-controlling interest49 53 45 38 32 (8)53 
Total equity18,790 18,897 18,276 17,496 18,349 (1)2 
Total liabilities and equity$186,599 $190,746 $184,894 $181,292 $179,557 (2)%4 %
(1)Amounts include the effects of hedge and risk management activities associated with the respective asset and liability categories.
(2)Includes nonaccrual loans and leases.
(3)Includes consumer certificates of deposit of $250,000 or more.
7

Huntington Bancshares Incorporated
Consolidated Quarterly Net Interest Margin - Interest Income / Expense (1)(2)
(Unaudited)
Quarterly Interest Income / Expense
September 30,June 30,March 31,December 31,September 30,
(dollar amounts in millions)20232023202320222022
Assets
Interest-bearing deposits at Federal Reserve Bank $127 $141 $71 $46 $19 
Interest-bearing deposits in banks4 5 5 5 2 
Securities:
Trading account securities1 1 — — — 
Available-for-sale securities:
Taxable259 252 232 198 165 
Tax-exempt37 33 29 28 25 
Total available-for-sale securities296 285 261 226 190 
Held-to-maturity securities - taxable99 102 102 100 95 
Other securities19 11 10 9 7 
Total securities415 399 373 335 292 
Loans held for sale10 8 7 8 13 
Loans and leases:
Commercial:
Commercial and industrial776 746 686 613 515 
Commercial real estate:
Commercial225 217 207 185 144 
Construction28 26 26 28 21 
Commercial real estate253 243 233 213 165 
Lease financing73 71 68 66 63 
Total commercial1,102 1,060 987 892 743 
Consumer:
Residential mortgage213 200 190 183 174 
Automobile145 134 129 125 120 
Home equity195 187 181 172 143 
RV and marine73 63 58 61 59 
Other consumer40 39 36 36 32 
Total consumer666 623 594 577 528 
Total loans and leases1,768 1,683 1,581 1,469 1,271 
Total earning assets$2,324 $2,236 $2,037 $1,863 $1,597 
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing$199 $167 $132 $102 $42 
Money market deposits327 255 172 75 25 
Savings and other domestic deposits6 6 3 2 1 
Core certificates of deposit (3)119 83 43 10 1 
Other domestic deposits of $250,000 or more4 2 2 1 — 
Negotiable CDS, brokered and other deposits
58 57 54 45 23 
Total interest-bearing deposits713 570 406 235 92 
Short-term borrowings17 74 60 10 22 
Long-term debt215 235 153 147 71 
Total interest-bearing liabilities945 879 619 392 185 
Net interest income$1,379 $1,357 $1,418 $1,471 $1,412 
(1)Fully-taxable equivalent (FTE) income and expense calculated assuming a 21% tax rate. See page 10 for the FTE adjustment.
(2)Amounts include the effects of hedge and risk management activities associated with the respective asset and liability categories.
(3)Includes consumer certificates of deposit of $250,000 or more.


8

Huntington Bancshares Incorporated
Consolidated Quarterly Net Interest Margin - Yield
(Unaudited)
 Quarterly Average Rates
September 30,June 30,March 31,December 31,September 30,
Fully-taxable equivalent basis (1)
20232023202320222022
Assets
Interest-bearing deposits at Federal Reserve Bank5.45 %5.12 %4.65 %3.99 %2.39 %
Interest-bearing deposits in banks
6.59 7.79 8.50 5.72 3.31 
Securities:
Trading account securities
4.98 4.92 5.37 5.45 4.12 
Available-for-sale securities:
Taxable
5.22 4.82 4.34 3.87 3.06 
Tax-exempt
5.08 4.87 4.40 4.21 3.39 
Total available-for-sale securities
5.20 4.83 4.35 3.91 3.09 
Held-to-maturity securities - taxable
2.43 2.42 2.41 2.34 2.21 
Other securities9.22 3.47 4.35 4.15 3.21 
Total securities
4.15 3.82 3.56 3.26 2.74 
Loans held for sale
6.42 6.05 5.85 5.42 4.98 
Loans and leases: (2)
Commercial:
Commercial and industrial6.15 5.87 5.60 5.06 4.37 
Commercial real estate:
Commercial7.55 7.14 6.73 5.93 4.72 
Construction8.30 7.96 7.40 6.54 4.95 
Commercial real estate7.63 7.22 6.80 6.01 4.75 
Lease financing5.60 5.45 5.25 5.02 4.95 
Total commercial6.39 6.10 5.82 5.25 4.50 
Consumer:
Residential mortgage3.66 3.51 3.41 3.33 3.23 
Automobile4.51 4.17 3.94 3.74 3.53 
Home equity7.66 7.42 7.14 6.57 5.43 
RV and marine 4.96 4.59 4.42 4.45 4.29 
Other consumer11.67 11.59 11.18 10.38 9.55 
Total consumer4.97 4.74 4.57 4.37 4.02 
Total loans and leases
5.76 5.51 5.27 4.86 4.28 
Total earning assets
5.39 5.13 4.89 4.46 3.86 
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing
1.98 1.68 1.32 0.94 0.40 
Money market deposits3.12 2.64 1.87 0.86 0.29 
Savings and other domestic deposits
0.15 0.11 0.07 0.03 0.02 
Core certificates of deposit (3)
4.17 3.78 3.01 1.42 0.10 
Other domestic deposits of $250,000 or more
3.78 3.27 2.45 1.31 0.35 
Negotiable CDS, brokered and other deposits
4.93 5.07 4.56 3.74 2.25 
Total interest-bearing deposits
2.45 2.06 1.52 0.88 0.35 
Short-term borrowings
7.60 5.70 5.56 7.71 3.31 
Long-term debt
6.27 5.79 5.52 4.66 3.40 
Total interest-bearing liabilities
2.88 2.66 2.02 1.31 0.64 
Net interest rate spread
2.51 2.47 2.87 3.15 3.22 
Impact of noninterest-bearing funds on margin
0.69 0.64 0.53 0.37 0.20 
Net interest margin
3.20 %3.11 %3.40 %3.52 %3.42 %
Commercial Loan Derivative Impact
(Unaudited)
Quarterly Average Rates
September 30,June 30,March 31,December 31,September 30,
Fully-taxable equivalent basis (1)
20232023202320222022
Commercial loans (2)(4)
7.09 %6.82 %6.42 %5.68 %4.62 %
Impact of commercial loan derivatives
(0.70)(0.72)(0.60)(0.43)(0.12)
Total commercial - as reported
6.39 %6.10 %5.82 %5.25 %4.50 %
Average 1 Month LIBOR
5.09 %4.62 %3.89 %2.46 %
Average SOFR5.23 %4.97 %4.50 %3.61 %2.14 %
(1)Fully-taxable equivalent (FTE) yields are calculated assuming a 21% tax rate. See page 10 for the FTE adjustment.
(2)Includes nonaccrual loans and leases.
(3)Includes consumer certificates of deposit of $250,000 or more.
(4)Yield/rates exclude the effects of hedge and risk management activities associated with the respective asset and liability categories.
9

Huntington Bancshares Incorporated
Selected Quarterly Income Statement Data
(Unaudited)
Three Months Ended
(dollar amounts in millions, except per share data)September 30,June 30,March 31,December 31,September 30,
20232023202320222022
Interest income
$2,313 $2,225 $2,028 $1,854 $1,589 
Interest expense
945 879 619 392 185 
Net interest income1,368 1,346 1,409 1,462 1,404 
Provision for credit losses99 92 85 91 106 
Net interest income after provision for credit losses1,269 1,254 1,324 1,371 1,298 
Service charges on deposit accounts 97 87 83 89 93 
Card and payment processing income103 102 93 96 96 
Capital markets fees49 57 59 83 73 
Trust and investment management services62 68 62 61 60 
Mortgage banking income27 33 26 25 26 
Leasing revenue32 25 26 35 29 
Insurance income31 30 34 31 28 
Gain on sale of loans2 8 3 2 15 
Bank owned life insurance income18 16 16 15 13 
Net (losses) gains on sales of securities— (5)1 — — 
Other noninterest income88 74 109 62 65 
Total noninterest income
509 495 512 499 498 
Personnel costs622 613 649 630 614 
Outside data processing and other services149 148 151 147 145 
Equipment65 64 64 67 60 
Net occupancy67 54 60 61 63 
Marketing29 32 25 22 24 
Professional services27 21 16 21 18 
Deposit and other insurance expense25 23 20 14 15 
Amortization of intangibles12 13 13 13 13 
Lease financing equipment depreciation6 8 8 9 11 
Other noninterest expense88 74 80 93 90 
Total noninterest expense
1,090 1,050 1,086 1,077 1,053 
Income before income taxes688 699 750 793 743 
Provision for income taxes136 134 144 144 146 
Income after income taxes552 565 606 649 597 
Income attributable to non-controlling interest5 6 4 4 3 
Net income attributable to Huntington547 559 602 645 594 
Dividends on preferred shares37 40 29 28 29 
Net income applicable to common shares$510 $519 $573 $617 $565 
Average common shares - basic
1,448 1,446 1,443 1,443 1,443 
Average common shares - diluted
1,468 1,466 1,469 1,468 1,465 
Per common share
Net income - basic$0.35 $0.36 $0.40 $0.43 $0.39 
Net income - diluted0.35 0.35 0.39 0.42 0.39 
Cash dividends declared
0.155 0.155 0.155 0.155 0.155 
Revenue - fully-taxable equivalent (FTE)
Net interest income
$1,368 $1,346 $1,409 $1,462 $1,404 
FTE adjustment
11 11 9 9 8 
Net interest income (1)
1,379 1,357 1,418 1,471 1,412 
Noninterest income
509 495 512 499 498 
Total revenue (1)
$1,888 $1,852 $1,930 $1,970 $1,910 
(1) On a fully-taxable equivalent (FTE) basis assuming a 21% tax rate.

10

Huntington Bancshares Incorporated
Quarterly Mortgage Banking Noninterest Income
(Unaudited)
Three Months Ended
September 30,June 30,March 31,December 31,September 30,
Percent Changes vs.
(dollar amounts in millions)
202320232023202220222Q233Q22
Net origination and secondary marketing income$18 $23 $16 $16 $25 (22)%(28)%
Net mortgage servicing income
Loan servicing income
24 23 23 22 22 4 9 
Amortization of capitalized servicing
(13)(12)(10)(11)(14)(8)7 
Operating income
11 11 13 11 8 — 38 
MSR valuation adjustment (1)
38 15 (12)2 17 153 124 
(Losses) gains due to MSR hedging
(38)(15)9 (4)(24)(153)(58)
Net MSR risk management
— — (3)(2)(7)— 100 
Total net mortgage servicing income$11 $11 $10 $9 $1 — %1,000 %
All other(2)(1)— — — (100)(100)
Mortgage banking income$27 $33 $26 $25 $26 (18)%4 %
Mortgage origination volume$2,020 $2,504 $1,412 $1,719 $2,491 (19)%(19)%
Mortgage origination volume for sale1,195 1,239 809 889 1,339 (4)(11)
Third party mortgage loans serviced (2)32,965 32,712 32,496 32,354 31,988 1 3 
Mortgage servicing rights (2)547 505 485 494 486 8 13 
MSR % of investor servicing portfolio (2)1.66 %1.55 %1.49 %1.53 %1.52 %7 %9 %
(1)The change in fair value for the period represents the MSR valuation adjustment, net of amortization of capitalized servicing.
(2)At period end.
11

Huntington Bancshares Incorporated
Quarterly Credit Reserves Analysis
(Unaudited)
Three Months Ended
September 30,June 30,March 31,December 31,September 30,
(dollar amounts in millions)20232023202320222022
Allowance for loan and lease losses, beginning of period$2,177 $2,142 $2,121 $2,110 $2,074 
Loan and lease charge-offs(131)(92)(99)(97)(83)
Recoveries of loans and leases previously charged-off58 43 42 47 39 
Net loan and lease charge-offs(73)(49)(57)(50)(44)
Provision for loan and lease losses104 84 78 61 80 
Allowance for loan and lease losses, end of period2,208 2,177 2,142 2,121 2,110 
Allowance for unfunded lending commitments, beginning of period165 157 150 120 94 
Provision for unfunded lending commitments(5)8 7 30 26 
Allowance for unfunded lending commitments, end of period160 165 157 150 120 
Total allowance for credit losses, end of period$2,368 $2,342 $2,299 $2,271 $2,230 
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases1.83 %1.80 %1.77 %1.77 %1.79 %
Nonaccrual loans and leases (NALs)373 427 402 373 351 
Nonperforming assets (NPAs)348 391 371 357 336 
Total allowance for credit losses (ACL) as % of:
Total loans and leases1.96 %1.93 %1.90 %1.90 %1.89 %
Nonaccrual loans and leases (NALs)400 459 431 400 371 
Nonperforming assets (NPAs)373 420 398 382 355 

Three Months Ended
September 30,June 30,March 31,December 31,September 30,
(dollar amounts in millions)20232023202320222022
Allocation of allowance for credit losses
Commercial
Commercial and industrial$973 $994 $967 $939 $914 
Commercial real estate483 442 440 433 450 
Lease financing48 47 50 52 50 
Total commercial1,504 1,483 1,457 1,424 1,414 
Consumer
Residential mortgage200 194 176 187 178 
Automobile143 144 151 141 118 
Home equity115 119 118 105 126 
RV and marine151 145 144 143 127 
Other consumer95 92 96 121 147 
Total consumer704 694 685 697 696 
Total allowance for loan and lease losses2,208 2,177 2,142 2,121 2,110 
Allowance for unfunded lending commitments160 165 157 150 120 
Total allowance for credit losses$2,368 $2,342 $2,299 $2,271 $2,230 


12

Huntington Bancshares Incorporated
Quarterly Net Charge-Off Analysis
(Unaudited)
Three Months Ended
September 30,June 30,March 31,December 31,September 30,
(dollar amounts in millions)20232023202320222022
Net charge-offs (recoveries) by loan and lease type:
Commercial:
Commercial and industrial$32 $20 $16 $9 $16 
Commercial real estate11 7 18 7 (3)
Lease financing2 — (5)5 2 
Total commercial45 27 29 21 15 
Consumer:
Residential mortgage1 1 — — (1)
Automobile4 3 5 3 3 
Home equity— — (1)— (2)
RV and marine3 2 2 2 2 
Other consumer20 16 22 24 27 
Total consumer28 22 28 29 29 
Total net charge-offs$73 $49 $57 $50 $44 
Three Months Ended
September 30,June 30,March 31,December 31,September 30,
20232023202320222022
Net charge-offs (recoveries) - annualized percentages:
Commercial:
Commercial and industrial0.26 %0.15 %0.13 %0.08 %0.14 %
Commercial real estate0.35 0.23 0.51 0.20 (0.07)
Lease financing0.12 — (0.37)0.40 0.17 
Total commercial0.27 0.16 0.17 0.13 0.10 
Consumer:
Residential mortgage0.01 0.01 0.01 (0.01)(0.02)
Automobile0.14 0.10 0.14 0.12 0.07 
Home equity(0.01)(0.02)(0.02)(0.04)(0.07)
RV and marine0.16 0.13 0.18 0.15 0.17 
Other consumer6.09 5.17 6.37 7.08 8.09 
Total consumer0.21 0.17 0.21 0.22 0.22 
Net charge-offs as a % of average loans and leases0.24 %0.16 %0.19 %0.17 %0.15 %

13

Huntington Bancshares Incorporated
Quarterly Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs) (1)
(Unaudited)
September 30,June 30,March 31,December 31,September 30,
(dollar amounts in millions)20232023202320222022
Nonaccrual loans and leases (NALs):
Commercial and industrial$314 $267 $273 $288 $288 
Commercial real estate102 75 86 92 110 
Lease financing14 15 14 18 30 
Residential mortgage75 73 81 90 94 
Automobile4 4 4 4 4 
Home equity82 75 74 76 75 
RV and marine1 1 1 1 1 
Total nonaccrual loans and leases592 510 533 569 602 
Other real estate, net14 18 20 11 11 
Other NPAs (1)28 29 25 14 14 
Total nonperforming assets$634 $557 $578 $594 $627 
Nonaccrual loans and leases as a % of total loans and leases0.49 %0.42 %0.44 %0.48 %0.51 %
NPA ratio (2)0.52 0.46 0.48 0.50 0.53 
(NPA+90days)/(Loan+OREO) (3)0.66 0.60 0.63 0.67 0.72 
Three Months Ended
September 30,June 30,March 31,December 31,September 30,
(dollar amounts in millions)20232023202320222022
Nonperforming assets, beginning of period$557 $578 $594 $627 $682 
New nonperforming assets252 188 237 251 119 
Returns to accruing status(23)(34)(73)(84)(42)
Charge-offs(62)(42)(54)(54)(39)
Payments(85)(118)(124)(144)(89)
Sales(5)(15)(2)(2)(4)
Nonperforming assets, end of period$634 $557 $578 $594 $627 
(1)Other nonperforming assets include certain impaired securities and/or nonaccrual loans held-for-sale.
(2)Nonperforming assets divided by the sum of loans and leases, net other real estate owned, and other NPAs.
(3)The sum of nonperforming assets and total accruing loans and leases past due 90 days or more divided by the sum of loans and leases and other real estate.

14

Huntington Bancshares Incorporated
Quarterly Accruing Past Due Loans and Leases
(Unaudited)
 September 30,June 30,March 31,December 31,September 30,
(dollar amounts in millions)20232023202320222022
Accruing loans and leases past due 90+ days:
Commercial and industrial$— $7 $12 $23 $29 
Lease financing7 12 10 9 18 
Residential mortgage (excluding loans guaranteed by the U.S. Government)22 18 20 21 17 
Automobile8 6 7 9 6 
Home equity19 18 18 15 12 
RV and marine2 2 2 3 2 
Other consumer3 3 2 2 3 
Total, excl. loans guaranteed by the U.S. Government61 66 71 82 87 
Add: loans guaranteed by U.S. Government102 103 114 125 136 
Total accruing loans and leases past due 90+ days, including loans guaranteed by the U.S. Government$163 $169 $185 $207 $223 
Ratios:
Excluding loans guaranteed by the U.S. Government, as a percent of total loans and leases0.05 %0.05 %0.06 %0.07 %0.07 %
Guaranteed by U.S. Government, as a percent of total loans and leases0.08 0.08 0.09 0.10 0.12 
Including loans guaranteed by the U.S. Government, as a percent of total loans and leases0.14 0.14 0.15 0.17 0.19 

15

Huntington Bancshares Incorporated
Quarterly Capital Under Current Regulatory Standards (Basel III) and Other Capital Data
(Unaudited)
September 30,June 30,March 31,December 31,September 30,
(dollar amounts in millions)20232023202320222022
Common equity tier 1 risk-based capital ratio: (1)
Total Huntington shareholders’ equity$18,483 $18,788 $18,758 $17,731 $17,136 
Regulatory capital adjustments:
CECL transitional amount (2)219 219 219 328 328 
Shareholders’ preferred equity and related surplus(2,494)(2,494)(2,494)(2,177)(2,177)
Accumulated other comprehensive loss3,622 3,006 2,755 3,098 3,276 
Goodwill and other intangibles, net of taxes(5,605)(5,620)(5,636)(5,663)(5,675)
Deferred tax assets from tax loss and credit carryforwards(14)(14)(14)(27)(29)
Common equity tier 1 capital14,211 13,885 13,588 13,290 12,859 
Additional tier 1 capital
Shareholders’ preferred equity and related surplus2,494 2,494 2,494 2,177 2,177 
Tier 1 capital16,705 16,379 16,082 15,467 15,036 
Long-term debt and other tier 2 qualifying instruments1,383 1,394 1,395 1,424 1,441 
Qualifying allowance for loan and lease losses1,758 1,767 1,779 1,682 1,637 
Tier 2 capital3,141 3,161 3,174 3,106 3,078 
Total risk-based capital$19,846 $19,540 $19,256 $18,573 $18,114 
Risk-weighted assets (RWA)(1)$140,664 $141,432 $142,335 $141,940 $138,759 
Common equity tier 1 risk-based capital ratio (1)10.10 %9.82 %9.55 %9.36 %9.27 %
Other regulatory capital data:
Tier 1 leverage ratio (1)9.43 9.01 8.79 8.60 8.51 
Tier 1 risk-based capital ratio (1)11.88 11.58 11.30 10.90 10.84 
Total risk-based capital ratio (1)14.11 13.82 13.53 13.09 13.05 
Non-regulatory capital data:
Tangible common equity / RWA ratio (1)7.33 7.50 7.43 6.93 6.66 
(1)September 30, 2023, figures are estimated.
(2)Upon adoption in 2020, Huntington elected to temporarily delay certain effects of CECL on regulatory capital, utilizing a two-year delay followed by a three-year transition period. January 1, 2022 began the three-year transition period, whereby 100% of the day-one impact of adopting CECL and 25% of the cumulative change in the reported allowance for credit losses since adopting CECL will be recognized over the three-year transition period. As of March 31, 2023, June 30, 2023 and September 30, 2023, 50% of the cumulative CECL deferral has been phased in. As of September 30, 2022 and December 31, 2022, 25% of the cumulative CECL deferral has been phased in.
16

Huntington Bancshares Incorporated
Quarterly Common Stock Summary, Non-Regulatory Capital, and Other Data
(Unaudited)
Quarterly common stock summary
September 30,June 30,March 31,December 31,September 30,
20232023202320222022
Cash dividends declared per common share$0.155 $0.155 $0.155 $0.155 $0.155 
Common shares outstanding (in millions)
Average - basic
1,448 1,446 1,443 1,443 1,443 
Average - diluted
1,468 1,466 1,469 1,468 1,465 
Ending
1,448 1,448 1,444 1,443 1,443 
Tangible book value per common share (1)
$7.12 $7.33 $7.32 $6.82 $6.40 

Non-regulatory capital
September 30,June 30,March 31,December 31,September 30,
(dollar amounts in millions)20232023202320222022
Calculation of tangible equity / asset ratio:
Total Huntington shareholders’ equity$18,483 $18,788 $18,758 $17,731 $17,136 
Goodwill and other intangible assets(5,716)(5,728)(5,741)(5,766)(5,775)
Deferred tax liability on other intangible assets (1)33 35 38 41 43 
Total tangible equity
12,800 13,095 13,055 12,006 11,404 
Preferred equity(2,484)(2,484)(2,484)(2,167)(2,167)
Total tangible common equity
$10,316 $10,611 $10,571 $9,839 $9,237 
Total assets
$186,650 $188,505 $189,070 $182,906 $179,402 
Goodwill and other intangible assets(5,716)(5,728)(5,741)(5,766)(5,775)
Deferred tax liability on other intangible assets (1)33 35 38 41 43 
Total tangible assets
$180,967 $182,812 $183,367 $177,181 $173,670 
Tangible equity / tangible asset ratio
7.07 %7.16 %7.12 %6.78 %6.57 %
Tangible common equity / tangible asset ratio
5.70 5.80 5.77 5.55 5.32 
Other data:
Number of employees (Average full-time equivalent)
19,826 20,200 20,198 20,007 19,997 
Number of domestic full-service branches (2)
1,001 1,001 1,001 1,032 1,032 
ATM Count
1,631 1,641 1,668 1,695 1,715 
(1)Deferred tax liability related to other intangible assets is calculated at a 21% tax rate.
(2)Includes Regional Banking and The Huntington Private Bank offices.


17

Huntington Bancshares Incorporated
Consolidated Year To Date Average Balance Sheets
(Unaudited)
YTD Average Balances (1)
Nine Months Ended September 30,
Change
(dollar amounts in millions)
20232022
Amount
Percent
Assets
Interest-bearing deposits at Federal Reserve Bank$8,825 $4,629 $4,196 91 %
Interest-bearing deposits in banks
246 200 46 23 
Securities:
Trading account securities
61 33 28 85 
Available-for-sale securities:
Taxable
20,702 22,509 (1,807)(8)
Tax-exempt
2,731 2,887 (156)(5)
Total available-for-sale securities
23,433 25,396 (1,963)(8)
Held-to-maturity securities - taxable
16,696 16,336 360 2 
Other securities1,003 841 162 19 
Total securities
41,193 42,606 (1,413)(3)
Loans held for sale
548 1,086 (538)(50)
Loans and leases: (2)
Commercial:
Commercial and industrial49,559 44,641 4,918 11 
Commercial real estate:
Commercial11,987 11,635 352 3 
Construction1,336 1,777 (441)(25)
Commercial real estate13,323 13,412 (89)(1)
Lease financing5,137 4,938 199 4 
Total commercial68,019 62,991 5,028 8 
Consumer:
Residential mortgage22,793 20,536 2,257 11 
Automobile12,971 13,512 (541)(4)
Home equity10,173 10,406 (233)(2)
RV and marine5,554 5,293 261 5 
Other consumer1,341 1,301 40 3 
Total consumer52,832 51,048 1,784 3 
Total loans and leases
120,851 114,039 6,812 6 
Total earning assets
171,663 162,560 9,103 6 
Cash and due from banks
1,598 1,672 (74)(4)
Goodwill and other intangible assets5,738 5,660 78 1 
All other assets
10,594 10,092 502 5 
Allowance for loan and lease losses
(2,174)(2,067)(107)(5)
Total assets
$187,419 $177,917 $9,502 5 %
Liabilities and shareholders' equity
Interest-bearing deposits:
Demand deposits - interest-bearing
$40,058 $41,467 $(1,409)(3)%
Money market deposits39,181 33,512 5,669 17 
Savings and other domestic deposits
18,818 21,480 (2,662)(12)
Core certificates of deposit (3)
8,659 2,274 6,385 NM
Other domestic deposits of $250,000 or more
326 244 82 34 
Negotiable CDS, brokered and other deposits
4,650 3,522 1,128 32 
Total interest-bearing deposits
111,692 102,499 9,193 9 
Short-term borrowings
3,478 3,139 339 11 
Long-term debt
13,700 7,401 6,299 85 
Total interest-bearing liabilities
128,870 113,039 15,831 14 
Demand deposits - noninterest-bearing
34,933 42,157 (7,224)(17)
All other liabilities
4,960 4,158 802 19 
Total Liabilities168,763 159,354 9,409 6 
Total Huntington shareholders’ equity18,607 18,534 73 — 
Non-controlling interest49 29 20 69 
Total equity$18,656 $18,563 $93 1 
Total liabilities and equity$187,419 $177,917 $18,911 5 %
NM - Not Meaningful
(1)Amounts include the effects of hedge and risk management activities associated with the respective asset and liability categories.
(2)Includes nonaccrual loans and leases.
(3)Includes consumer certificates of deposit of $250,000 or more.
18

Huntington Bancshares Incorporated
Consolidated Year To Date Net Interest Margin - Interest Income / Expense (1)(2)
(Unaudited)
YTD Interest Income / Expense
Nine Months Ended September 30,
(dollar amounts in millions)
20232022
Assets
Interest-bearing deposits at Federal Reserve Bank $339 $29 
Interest-bearing deposits in banks
14 3 
Securities:
Trading account securities
2 1 
Available-for-sale securities:
Taxable
743 378 
Tax-exempt
99 66 
Total available-for-sale securities
842 444 
Held-to-maturity securities - taxable
303 251 
Other securities40 18 
Total securities
1,187 714 
Loans held for sale
25 33 
Loans and leases:
Commercial:
Commercial and industrial2,208 1,343 
Commercial real estate:
Commercial649 335 
Construction80 54 
Commercial real estate729 389 
Lease financing212 185 
Total commercial3,149 1,917 
Consumer:
Residential mortgage603 478 
Automobile408 347 
Home equity563 360 
RV and marine194 166 
Other consumer115 90 
Total consumer1,883 1,441 
Total loans and leases
5,032 3,358 
Total earning assets
$6,597 $4,137 
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing
$498 $56 
Money market deposits754 37 
Savings and other domestic deposits
15 3 
Core certificates of deposit (3)
245 2 
Other domestic deposits of $250,000 or more
8 — 
Negotiable CDS, brokered and other deposits
169 30 
Total interest-bearing deposits
1,689 128 
Short-term borrowings
151 36 
Long-term debt
603 140 
Total interest-bearing liabilities
2,443 304 
Net interest income
$4,154 $3,833 
(1)Fully-taxable equivalent (FTE) income and expense calculated assuming a 21% tax rate. See page 21 for the FTE adjustment.
(2)Amounts include the effects of hedge and risk management activities associated with the respective asset and liability categories.
(3)Includes consumer certificates of deposit of $250,000 or more.
19

Huntington Bancshares Incorporated
Consolidated Year To Date Net Interest Margin - Yield
(Unaudited)
YTD Average Rates
Nine Months Ended September 30,
Fully-taxable equivalent basis (1)20232022
Assets
Interest-bearing deposits at Federal Reserve Bank5.12 %0.84 %
Interest-bearing deposits in banks
7.60 1.85 
Securities:
Trading account securities
4.98 3.75 
Available-for-sale securities:
Taxable
4.79 2.24 
Tax-exempt
4.79 3.04 
Total available-for-sale securities
4.79 2.33 
Held-to-maturity securities - taxable
2.42 2.05 
Other securities5.37 2.83 
Total securities
3.84 2.23 
Loans held for sale
6.13 4.00 
Loans and leases: (2)
Commercial:
Commercial and industrial5.88 3.97 
Commercial real estate:
Commercial7.14 3.80 
Construction7.88 4.04 
Commercial real estate7.21 3.83 
Lease financing5.44 4.95 
Total commercial6.10 4.01 
Consumer:
Residential mortgage3.53 3.10 
Automobile4.20 3.44 
Home equity7.40 4.62 
RV and marine4.67 4.19 
Other consumer11.49 9.21 
Total consumer4.76 3.77 
Total loans and leases
5.52 3.91 
Total earning assets
5.14 %3.40 %
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing
1.66 %0.18 %
Money market deposits2.57 0.15 
Savings and other domestic deposits
0.11 0.02 
Core certificates of deposit (3)
3.79 0.10 
Other domestic deposits of $250,000 or more
3.27 0.24 
Negotiable CDS, brokered and other deposits
4.85 1.14 
Total interest-bearing deposits
2.02 0.17 
Short-term borrowings
5.80 1.52 
Long-term debt
5.87 2.51 
Total interest-bearing liabilities
2.53 0.36 
Net interest rate spread
2.61 3.04 
Impact of noninterest-bearing funds on margin
0.63 0.11 
Net interest margin
3.24 %3.15 %
Commercial Loan Derivative Impact
 (Unaudited)
YTD Average Rates
Nine Months Ended September 30,
Fully-taxable equivalent basis (1)
20232022
Commercial loans (2)(4)
6.77 %3.93 %
Impact of commercial loan derivatives
(0.67)0.08 
Total commercial - as reported
6.10 %4.01 %
Average 1 Month LIBOR
1.24 %
Average SOFR4.90 %0.99 %
(1)Fully-taxable equivalent (FTE) yields are calculated assuming a 21% tax rate. See page 21 for the FTE adjustment.
(2)Includes the impact of nonaccrual loans and leases.
(3)Includes consumer certificates of deposit of $250,000 or more.
(4)Yield/rates exclude the effects of hedge and risk management activities associated with the respective asset and liability categories.
20

Huntington Bancshares Incorporated
Selected Year To Date Income Statement Data
(Unaudited)
Nine Months Ended September 30,Change
(dollar amounts in millions, except per share data)20232022AmountPercent
Interest income$6,566 $4,115 $2,451 60 %
Interest expense2,443 304 2,139 NM
Net interest income4,123 3,811 312 8 
Provision for credit losses276 198 78 39 
Net interest income after provision for credit losses3,847 3,613 234 6 
Service charges on deposit accounts 267 295 (28)(9)
Card and payment processing income298 278 20 7 
Capital markets fees165 169 (4)(2)
Trust and investment management services192 188 4 2 
Mortgage banking income86 119 (33)(28)
Leasing revenue83 91 (8)(9)
Insurance income95 86 9 10 
Gain on sale of loans13 55 (42)(76)
Bank owned life insurance income50 41 9 22 
Net (losses) gains on sales of securities(4)— (4)(100)
Other noninterest income271 160 111 69 
Total noninterest income1,516 1,482 34 2 
Personnel costs1,884 1,771 113 6 
Outside data processing and other services448 463 (15)(3)
Equipment193 202 (9)(4)
Net occupancy181 185 (4)(2)
Marketing86 69 17 25 
Professional services64 56 8 14 
Deposit and other insurance expense68 53 15 28 
Amortization of intangibles38 40 (2)(5)
Lease financing equipment depreciation22 36 (14)(39)
Other noninterest expense242 249 (7)(3)
Total noninterest expense3,226 3,124 102 3 
Income before income taxes2,137 1,971 166 8 
Provision for income taxes414 371 43 12 
Income after income taxes1,723 1,600 123 8 
Income attributable to non-controlling interest15 7 8 114 
Net income attributable to Huntington1,708 1,593 115 7 
Dividends on preferred shares106 85 21 25 
Net income applicable to common shares$1,602 $1,508 $94 6 %
Average common shares - basic 1,446 1,441 5 — 
Average common shares - diluted1,468 1,464 4 — 
Per common share
Net income - basic$1.11 $1.05 $0.06 6 %
Net income - diluted1.09 1.03 0.06 6 
Cash dividends declared0.465 0.465 — — 
Revenue - fully taxable equivalent (FTE)
Net interest income$4,123 $3,811 $312 8 %
FTE adjustment31 22 9 41 
Net interest income (1)4,154 3,833 321 8 
Noninterest income1,516 1,482 34 2 
Total revenue (1)$5,670 $5,315 $355 7 %
NM - Not Meaningful
(1)On a fully-taxable equivalent (FTE) basis assuming a 21% tax rate.
21

Huntington Bancshares Incorporated
Year To Date Mortgage Banking Noninterest Income
(Unaudited)
Nine Months Ended September 30,Change
(dollar amounts in millions)20232022AmountPercent
Net origination and secondary marketing income$57 $89 $(32)(36)%
Net mortgage servicing income
          Loan servicing income70 66 4 6 
          Amortization of capitalized servicing(35)(45)10 22 
     Operating income35 21 14 67 
          MSR valuation adjustment (1)41 112 (71)(63)
          (Losses) gains due to MSR hedging(44)(105)61 58 
     Net MSR risk management (3)7 (10)— 
Total net mortgage servicing income32 28 4 14 
All other(3)2 (5)NM
Mortgage banking income$86 $119 $(33)(28)%
Mortgage origination volume$5,936 $8,738 $(2,802)(32)%
Mortgage origination volume for sale3,243 4,121 (878)(21)
Third party mortgage loans serviced (2)32,965 31,988 977 3 
Mortgage servicing rights (2)547 486 61 13 
MSR % of investor servicing portfolio (2)1.66 %1.52 %0.14 %9 %
NM - Not Meaningful
(1)The change in fair value for the period represents the MSR valuation adjustment, net of amortization of capitalized servicing.
(2)At period end.
22

Huntington Bancshares Incorporated
Year To Date Credit Reserves Analysis
(Unaudited)
Nine Months Ended September 30,
(dollar amounts in millions)
20232022
Allowance for loan and lease losses, beginning of period
$2,121 $2,030 
Loan and lease charge-offs(322)(216)
Recoveries of loans and leases previously charged off143 145 
Net loan and lease charge-offs(179)(71)
Provision for loan and lease losses
266 151 
Allowance for loan and lease losses, end of period
2,208 2,110 
Allowance for unfunded lending commitments, beginning of period$150 $77 
Provision for unfunded lending commitments10 43 
Allowance for unfunded lending commitments, end of period160 120 
Total allowance for credit losses, end of period$2,368 $2,230 
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases
1.83 %1.79 %
Nonaccrual loans and leases (NALs)
373 351 
Nonperforming assets (NPAs)
348 336 
Total allowance for credit losses (ACL) as % of:
Total loans and leases
1.96 %1.89 %
Nonaccrual loans and leases (NALs)400 371 
Nonperforming assets (NPAs)373 355 
23

Huntington Bancshares Incorporated
Year To Date Net Charge-Off Analysis
(Unaudited)
Nine Months Ended September 30,
(dollar amounts in millions)20232022
Net charge-offs (recoveries) by loan and lease type:
Commercial:
Commercial and industrial$68 $(11)
Commercial real estate36 1 
Lease financing(3)4 
Total commercial101 (6)
Consumer:
Residential mortgage2 (2)
Automobile12 3 
Home equity(1)(5)
RV and marine7 6 
Other consumer58 75 
Total consumer78 77 
Total net charge-offs$179 $71 
Nine Months Ended September 30,
20232022
Net charge-offs (recoveries) - annualized percentages:
Commercial:
Commercial and industrial0.18 %(0.03)%
Commercial real estate0.37 0.01 
Lease financing(0.08)0.11 
Total commercial0.20 (0.01)
Consumer:
Residential mortgage0.01 (0.01)
Automobile0.13 0.03 
Home equity(0.02)(0.06)
RV and marine0.16 0.16 
Other consumer5.88 7.72 
Total consumer0.20 0.20 
Net charge-offs as a % of average loans0.20 %0.08 %

24

Huntington Bancshares Incorporated
Year To Date Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)
(Unaudited)
September 30,
(dollar amounts in millions)20232022
Nonaccrual loans and leases (NALs):
Commercial and industrial$314 $288 
Commercial real estate102 110 
Lease financing14 30 
Residential mortgage75 94 
Automobile4 4 
Home equity82 75 
RV and marine1 1 
Total nonaccrual loans and leases592 602 
Other real estate, net14 11 
Other NPAs (1)28 14 
Total nonperforming assets (2)
$634 $627 
Nonaccrual loans and leases as a % of total loans and leases0.49 %0.51 %
NPA ratio (3)
0.52 0.53 
Nine Months Ended September 30,
(dollar amounts in millions)20232022
Nonperforming assets, beginning of period$594 $750 
New nonperforming assets677 504 
Returns to accruing status(130)(180)
Charge-offs(158)(97)
Payments(327)(341)
Sales
(22)(9)
Nonperforming assets, end of period (3)
$634 $627 
(1)Other nonperforming assets include certain impaired securities and/or nonaccrual loans held-for-sale.
(2)Nonaccruing troubled debt restructured loans are included in the total nonperforming assets balance.
(3)Nonperforming assets divided by the sum of loans and leases, net other real estate owned, and other NPAs.

25

Huntington Bancshares Incorporated
Reconciliation of Non-GAAP Financial Measures
(Unaudited)

Huntington believes certain non-GAAP financial measures to be helpful in understanding Huntington’s results of operations. The following tables provide the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure.
Three Months Ended
September 30,June 30,September 30,Percent Changes vs.
(dollar amounts in millions)
202320232022
2Q23
3Q22
Pre-Provision Net Revenue (PPNR)
Total revenue (GAAP)$1,877 $1,841 $1,902 
FTE adjustment11 11 8 
Total revenue (FTE) (a)1,888 1,852 1,910 
Less: net (loss)/gain on securities— (5)— 
Total revenue (FTE), excluding net gain/(loss) on securities and notable items (b)1,888 1,857 1,910 
Noninterest expense (GAAP) (c)1,090 1,050 1,053 
Less: Notable items15 — 10 
Noninterest expense, excluding notable items (d)1,075 1,050 1,043 
PPNR (a-c)798 802 857 — %(7)%
PPNR, adjusted (b-d)813 807 867 1 %(6)%
26
v3.23.3
Cover Page
Oct. 20, 2023
Entity Information [Line Items]  
Document Type 8-K
Document Period End Date Oct. 20, 2023
Entity Registrant Name Huntington Bancshares Incorporated
Entity Incorporation, State or Country Code MD
Entity File Number 1-34073
Entity Tax Identification Number 31-0724920
Entity Address, Address Line One 41 South High Street
Entity Address, City or Town Columbus
Entity Address, State or Province OH
Entity Address, Postal Zip Code 43287
City Area Code 614
Local Phone Number 480-2265
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Entity Central Index Key 0000049196
Amendment Flag false
Common Stock-Par Value $0.01 per share  
Entity Information [Line Items]  
Title of 12(b) Security Common Stock—Par Value $0.01 per Share
Trading Symbol HBAN
Security Exchange Name NASDAQ
Series H Preferred Stock  
Entity Information [Line Items]  
Title of 12(b) Security Depositary Shares (each representing a 1/40th interest in a share of 4.500% Series H Non-Cumulative, perpetual preferred stock)
Trading Symbol HBANP
Security Exchange Name NASDAQ
Series I Preferred Stock  
Entity Information [Line Items]  
Title of 12(b) Security Depositary Shares (each representing a 1/1000th interest in a share of 5.70% Series I Non-Cumulative, perpetual preferred stock)
Trading Symbol HBANM
Security Exchange Name NASDAQ
Series J Preferred Stock  
Entity Information [Line Items]  
Title of 12(b) Security Depositary Shares (each representing a 1/40th interest in a share of 6.875% Series J Non-Cumulative, perpetual preferred stock)
Trading Symbol HBANL
Security Exchange Name NASDAQ
Huntington Bancshares (NASDAQ:HBANP)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Huntington Bancshares Charts.
Huntington Bancshares (NASDAQ:HBANP)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Huntington Bancshares Charts.