HBAN · Huntington Bancshares Incorporated

Huntington Bancshares delivered a robust start to 2026 with Q1 net income of $523 million, up slightly from the prior quarter despite $271 million in pre-tax Notable Items primarily from acquisition-related expenses, yielding GAAP EPS of $0.25 versus adjusted $0.37. Net interest income surged 19% quarter-over-quarter to $1,891 million, fueled by a 18% rise in average earning assets to $239.0 billion and a 9 basis point NIM expansion to 3.24%, driven by lower funding costs and hedging benefits, though partially offset by softer asset yields. Noninterest income climbed 17% to $682 million, contributing to total revenue growth. Balance sheet expansion was pronounced, with average loans up 19% to $174.2 billion—led by 24% commercial loan growth—and deposits up 18% to $204.6 billion, incorporating Cadence (closed February 1, adding $36.9 billion loans, $43.5 billion deposits) and fully integrated Veritex (added $9.3 billion loans). Credit quality held firm with net charge-offs at 0.26% and ACL at 1.78% ($3.4 billion), up due to Cadence. Capital remained solid at CET1 10.2%, TCE 7.0%. CEO Steinour highlighted disciplined execution, organic growth, strong credit, and synergies from partnerships, positioning for Cadence Q2 conversion and sustained Texas/South expansion amid economic uncertainty. Share repurchases totaled $250 million year-to-date under a new $3 billion authorization signal confidence in capital return.