Press release
HUNTINGTON BANCSHARES 2022 CCAR RESULTS
COLUMBUS, Ohio, June 27, 2022 /PRNewswire/ -- Huntington Bancshares Incorporated (Nasdaq: HBAN) announced that the Company has exceeded all minimum capital
About this update from Huntington Bancshares Incorporated
[{"type":"text","content":"COLUMBUS, Ohio, June 27, 2022 /PRNewswire/ -- Huntington Bancshares Incorporated (Nasdaq: HBAN) announced that the Company has exceeded all minimum capital levels under the Federal Reserve's 2022 Comprehensive Capital Analysis and Review (CCAR) supervisory stress test. \n\n \n \n \n \n \n \n\n \nThe Federal Reserve published an estimate of 6.3% for Huntington's modeled credit loss rate under the 2022 Supervisory Severely Adverse scenario which compares favorably to the peer median rate of 6.7%1. Huntington's modeled credit loss rates from the Federal Reserve have outperformed peer median benchmarks during each cycle in which Huntington was included in the exercise since 2015. \n\"This year's stress testing exercise highlighted the robust credit strength of Huntington's balance sheet and our ability to withstand a severe economic downturn,\" said Stephen D. Steinour, chairman, president, and CEO. \"Our credit results demonstrated the benefit of our disciplined approach to credit and risk management, consistent with our aggregate moderate-to-low risk appetite through the cycle. We were pleased to extend our track record of modeled credit outperformance during the stress tests, which this year included assets added through our acquisition of TCF. Our capital levels remain strong, with robust liquidity, and we expect to expand pre-provision net revenue over the course of the year, consistent with our prior guidance. We continue to manage capital levels within our targeted operating range for Common Equity Tier 1 of 9-10% and will utilize our capital to fund organic growth to serve the needs of our customers and communities.\"\nHuntington's capital plan submitted in connection with the 2022 CCAR includes a third quarter dividend of $0.155 per common share, subject to approval by its board of directors. \n1Peer median includes results from 8 peer banks which participated in this year's Comprehensive Capital Analysis and Review. \nCaution Regarding Forward-Looking StatementsThis communication 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 expectatio...