Business
Huntington Bancshares Incorporated Reports 2026 First-Quarter Earnings
Huntington Delivers Strong Start to 2026, Driven by Strong Organic Growth, and Excellent Credit Performance2026 First-Quarter Highlights:Earnings per common
About this update from Huntington Bancshares Incorporated
[{"type":"text","content":"Huntington Delivers Strong Start to 2026, Driven by Strong Organic Growth, and Excellent Credit Performance2026 First-Quarter Highlights:Earnings per common share (EPS) for the quarter was $0.25, lower by $0.05 from the prior quarter, and $0.09 lower than the year-ago quarter. Excluding the after-tax impact of Notable Items as detailed in Table 2, adjusted EPS, a non-GAAP measure, was $0.37, unchanged from the prior quarter and higher by $0.03 from the year-ago quarter.Successfully completed the systems conversion of Veritex Holdings, Inc. (\"Veritex\") in Mid-January.Closed the partnership with Cadence Bank (\"Cadence\") on February 1, 2026; integration expected to be completed in the second quarter of 2026.Net interest income increased $299 million, or 19%, from the prior quarter, and $465 million, or 33%, from the year-ago quarter. Noninterest income increased $100 million, or 17%, from the prior quarter, to $682 million. From the year-ago quarter, noninterest income increased $188 million, or 38%. Average total loans and leases increased $27.6 billion, or 19%, from the prior quarter to $174.2 billion and increased $43.4 billion, or 33%, from the year-ago quarter, inclusive of the impact of the Cadence and Veritex acquisitions.Average commercial loans grew $20.9 billion, or 24%, from the prior quarter and $34.0 billion, or 46%, from the year-ago quarter.Average consumer loans grew $6.7 billion, or 11%, from the prior quarter and $9.3 billion, or 16%, from the year-ago quarter.Average total deposits increased $31.5 billion, or 18%, from the prior quarter and $43.0 billion, or 27%, from the year-ago quarter, inclusive of the impact of the Cadence and Veritex acquisitions. Net charge-offs of 0.26% of average total loans and leases for the quarter, 2 basis points higher than the prior quarter and unchanged from the year ago quarter.Nonperforming asset ratio of 0.72% at quarter end, 9 basis points higher than the prior quarter.Allowance for credit losses (ACL) of $3.4 billion, or 1.78% of total loans and leases, at quarter end, an increase of $625 million from the prior quarter, with the increase primarily driven by the Cadence acquisition.Common Equity Tier 1 (CET1) risk-based capital ratio was 10.2%, at March 31, 2026, compared to 10.4% at the prior quarter end. Adjusted Common Equity Tier 1, including the impact of AOCI, exclud...