Huntington Bancshares Incorporated · NASDAQ:HBAN
Huntington Bancshares — Q1 2026 Earnings Presentation
45 slides from Huntington Bancshares's earnings presentation, Apr 23, 2026
Slide 1: 2026 First Quarter Earnings Review
2026 First Quarter Earnings Review Welcome. The Huntington National Bank is Member FDIC. ®, Huntington® and Huntington. April 23, 2026 are federally registered service marks of Huntington Bancshares Incorporated. ©2026 Huntington Bancshares Incorporated.
Slide 2: Disclaimer
Disclaimer Caution Regarding Forward - Looking Statements The information contained or incorporated by reference in this presentation contains certain forward -looking statements, includi ng, but not limited to, certain plans, expectations, goals, projections, and statements, which are not historica
Slide 3: Key Messages
Key Messages 1 Differentiated super regional bank model with multiple growth engines 2 Delivering strong organic performance 3 Managing aggregate moderate-to-low risk appetite 4 Partner integrations on track to deliver cost and revenue synergies 5 Powerful earnings enables accelerated capital return
Slide 4: Our Drivers of Value Creation
Our Drivers of Value Creation EPS YoY Growth -26% GAAP / +9% adj. Differentiated Investments Drive Operating Model Competitive Powers Growth Advantage PPNR YoY Growth +4% GAAP / Driving + 36% adj. Proven Execution Sustainable Long - term Operating and Integration Track Record Shareholder Leverage TB
Slide 5: Operating from a Position of Significant Balance Sheet Strength
Operating from a Position of Significant Balance Sheet Strength Liquidity Capital Reserves Credit Losses Cash + borrowing adj. CET13 / CET1 ACL NCOs capacity as % of uninsured deposits2 173% 9.2% 10.2% 1.78% 0.26% Peer Median1 89% 9.3% 10.8% 1.57% 0.38% (4Q25) (4Q25) Highlights • Peer leading liquid
Slide 6: Key Integration Advancements
Key Integration Advancements Welcoming New Systems Conversion Synergy Realization Partners & Customers • 10 new regional presidents • Veritex conversion • Cost synergies on track successfully completed • 2 new specialty verticals • Realizing revenue synergies • Finalized Cadence product • 6,000+ new
Slide 7: Delivering Exceptional Profitability
Delivering Exceptional Profitability 1Q26 Key Metrics 1Q26 Highlights EPS GAAP Adjusted 1 Drove core earnings growth YoY Notable Items $0.25 $0.37 • EPS: -26% GAAP or +9% adjusted for notable items Pre -Tax: $271M Sustained organic loan and deposit growth GAAP Adjusted 1 driving NII expansion ROTCE
Slide 8: Loans and Leases | Balanced and Diversified Growth
Loans and Leases | Balanced and Diversified Growth Loan and Lease Balances (ADB) Highlights $188.8 • Average loan growth of 18.8% QoQ or 2.3% QoQ excluding the impact of Cadence $174.2 • End of period loans grew 26.2% or 1.5% excluding the impact of Cadence +18.8% • Powerful organic growth driven by
Slide 9: Deposits | Driving Growth with Disciplined Pricing
Deposits | Driving Growth with Disciplined Pricing Deposit Balances (ADB) Highlights • Average deposit growth of 18.2% QoQ or 1.9% excluding the $223.5 impact of Cadence $204.6 • End of period deposits grew 26.5% or 2.3% excluding the impact of Cadence $173.2 • Added $43.1B in deposits at period end
Slide 10: Delivering Sustained Net Interest Income Growth
Delivering Sustained Net Interest Income Growth Net Interest Income (FTE)1 and Net Interest Margin (NIM)1 Highlights • NIM up 9bps QoQ, driven by deposit pricing and optimization benefits, lower hedge drag, and purchase accounting $1,910 • PAA contributed $18M to net interest income • Held higher fe
Slide 11: Noninterest Income | Growing Diversified Fee Revenues
Noninterest Income | Growing Diversified Fee Revenues Noninterest Income By Category Highlights • Noninterest income grew 38% vs the prior year or ~18% 1Q26 Includes excluding the impact of Cadence, Janney and TM Capital, and ~$55M from $682 Total Noninterest contribution from portion of our corpora
Slide 12: Noninterest Expense | Delivering Positive Operating Leverage
Noninterest Expense | Delivering Positive Operating Leverage Noninterest Expense (NIE) Highlights $1,774 • Continuing to drive positive operating leverage $263 $1,420 Notable Items • Executing on ongoing efficiency programs $1,197 $1,246 $130 $1,152 $8 • Advancing program of strategic investments to
Slide 13: Capital Priorities Support Organic Loan Growth, Dividends, and Share Repurchases
Capital Priorities Support Organic Loan Growth, Dividends, and Share Repurchases CET1 Ratio Highlights 10.6% 10.5% 10.6% 10.4% • Operating within target Adjusted CET1 operating range 10.2% Target Operating of 9-10% 1.4% Targeting Range 9 -10% 1.7% 1.5% 1.2% 1.0% • Executing on programmatic share rep
Slide 14: Creating Shareholder Value Through Disciplined Management
Creating Shareholder Value Through Disciplined Management ROTCE Driving Returns 16.4% 16.3% 16.7% 16.4% 16.4% 18 – 19% Adj. ROTCE 0.1% 0.7% ROTCE 2.1% Revenue growth and positive operating leverage driving adjusted ROTCE 16.3% 16.3% 16.7% 18.0% expansion 15.7% 14.3% 1Q25 LTM 2Q25 LTM 3Q25 LTM 4Q25 L
Slide 15: Top Tier Credit Performance
Top Tier Credit Performance Net Charge-Off Ratio Allowance for Credit Losses (ACL) 0.43% 0.42% 0.44% Peer Median 1 0.42% 0.38% 2nd & 3rd Quartile 1.87% 1.86% 1.86% 1.83% 1.78% 1 Peer Median 0.26% 0.24% 0.26% 0.20% 0.22% 1.64% 1.63% 1.62% 1.60% 1.57% 1Q25 2Q25 3Q25 4Q25 1Q26 1Q25 2Q25 3Q25 4Q25 1Q26
Slide 16: Full Year 2026 Outlook
Full Year 2026 Outlook FY26 Guidance 3/11/26 4/23/26 Standalone + Cadence Combined Combined Commentary Tracking to low -end of range driven by: - Optimization of loan and deposit mix impacting asset Net Interest Income + ~$1,775M - 10-13% 39-43% 39-43% y yields and funding costs FY25 Baseline = $6.0
Slide 17: Flywheel for Value Creation
Flywheel for Value Creation Differentiated Operating Model Sustainable Strong Revenue Competitive Growth and Advantage Profitability Expanding Investment Capacity 2026 First Quarter Earnings Review | 17
Slide 18: Non-GAAP Reconciliation
Non-GAAP Reconciliation Pre-Provision Net Revenue (PPNR), Earnings Per Share (EPS) % Change ($ in millions) 1Q25 1Q26 1Q26 vs. 1Q25 Total revenue (GAAP) $1,920 $2,573 FTE adjustment 15 19 Total revenue (FTE) A 1,935 2,592 Less: Gain/loss on the sale of securities -- 13 Total revenue (FTE) excluding
Slide 19: Non-GAAP Reconciliation
Non-GAAP Reconciliation Tangible common equity ratio, Tangible book value per share Tangible Common Equity Ratio ($ in millions) 1Q23 1Q24 1Q25 1Q26 Huntington shareholders’ equity $18,758 $19,322 $20,434 $32,535 Less: preferred stock 2,484 2,394 1,989 2,881 Common shareholders’ equity $16,274 $16,9
Slide 20: Non-GAAP Reconciliation
Non-GAAP Reconciliation Average Tangible Common Equity, ROTCE ($ in millions) LTM 1Q25 LTM 2Q25 LTM 3Q25 LTM 4Q25 LTM 1Q26 1Q26 Average common shareholders’ equity $17,642 $18,065 $18,438 $19,241 $21,470 $27,050 Less: intangible assets and goodwill 5,668 5,657 5,645 5,741 6,609 9,175 Add: net tax ef
Slide 21: Non-GAAP Reconciliation
Non-GAAP Reconciliation Common Equity Tier 1 (CET1) CET1 – AOCI Impact ($ in millions) 1Q25 2Q25 3Q25 4Q25 1Q26 Common Equity Tier 1 A $15,269 $15,539 $15,924 $17,286 $21,160 Add: accumulated other (2,422) (2,241) (2,065) (1,904) (2,055) Comprehensive income (loss) (AOCI) Less: cash flow hedge (90)
Slide 22: Non-GAAP Reconciliation
Non-GAAP Reconciliation Net Income to Common Shareholders, Noninterest Expense Net Income to Common Shareholders($ in millions) 4Q25 1Q26 % Change 1Q26 vs. 1Q25 Net income available to common $476 $482 Add: Notable Items, after tax 99 216 Adjusted net income available to common $575 $698 21% Noninte
Slide 23: Non-GAAP Reconciliation
Non-GAAP Reconciliation Operating Leverage LTM LTM LTM LTM LTM LTM LTM LTM LTM ($ in millions) 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 Total revenue (FTE) $7,239 $7,203 $7,202 $7,438 $7,606 $7,744 $8,008 $8,231 $8,888 YoY Growth Rate 5.1% 7.5% 11.2% 10.7% 16.9% Less: Net gain / (loss) on securi
Slide 24: Appendix
Appendix (2) Huntington
Slide 25: Basis of Presentation
Basis of Presentation Use of Non -GAAP Financial Measures This document contains GAAP financial measures and non -GAAP financial measures where management believes it to be helpful in understanding Huntington’s results of operations or financial position . Where non -GAAP financial measures are used
Slide 26: Table of Contents
Table of Contents Impact of Purchase Accounting 27 Insured Deposits 37 Preferred Dividends 28 Securities Portfolio 38 Balance Sheet 29 Accumulated Other Comprehensive Income 39 Loan and Leases 35 Hedging Balance Update 40 CRE Overview 30 Credit 42 Auto Originations 32 Delinquencies 43 Consumer Finan
Slide 27: Impact of Purchase Accounting
Impact of Purchase Accounting Purchase Accounting Accretion (PAA) Summary Actual Projected After ($ in millions) 1Q26 2Q26 3Q26 4Q26 FY27 FY28 FY28 Loans and Leases $14 $17 $17 $15 $69 $64 $410 Deposits 4 5 1 -- -- -- -- Subtotal: Net Interest Income 18 22 18 15 69 64 410 Core Deposit Intangible (No
Slide 28: Estimated Preferred Dividends
Estimated Preferred Dividends ($ in millions) Actuals Projected1 4Q25 1Q26 2Q26 3Q26 4Q26 1Q27 Dividends on Preferred Shares $43 $41 $41 $41 $41 $41 (1) Estimated preferred dividends based on projected interest rates for currently outstanding series of preferred shares 2026 First Quarter Earnings Re
Slide 29: Balance Sheet
Balance Sheet (2) Huntington
Slide 30: Commercial Real Estate (CRE) Overview
Commercial Real Estate (CRE) Overview CRE Loans as % of Total Loans Portfolio Characteristics Peer 1 • Well diversified portfolio with rigorous client selection 10% Peer Median 1: 16% • CRE reserve coverage 3.4% vs. peer median 1 of 2.1% (4Q25) Peer 2 10% • Office reserve coverage of 8% Peer 3 10% •
Slide 31: CRE | Low Concentration and Top Tier Reserve Coverage
CRE | Low Concentration and Top Tier Reserve Coverage CRE Reserve Ratio vs. CRE as % of Total Loans Includes U.S. Listed Banks over $50B in assets as of 12/31/20251 Banks as of 4Q25 5.0% 4.0% HBAN (4Q25) 4Q25) Bank 3 Bank 26 HBAN (1Q26) 3.0% Bank 8 CRE Reserve Ratio Bank 1 Bank 12 Bank 5 Bank 9 Bank
Slide 32: Auto – Production Trend
Auto – Production Trend Originations 1Q26 4Q25 3Q25 2Q25 1Q25 4Q24 3Q24 2Q24 1Q24 Amount ($ in billions) $1.7 $2.1 $2.5 $2.3 $2.0 $2.2 $2.4 $2.1 $1.6 % new vehicles 36% 39% 36% 35% 33% 36% 35% 35% 41% Avg. LTV 89% 89% 89% 89% 86% 87% 87% 85% 84% Avg. FICO 777 775 774 774 776 778 780 784 783 Vintage
Slide 33: Auto – Proven Track Record of Strategic Growth
Auto – Proven Track Record of Strategic Growth Optimize through the Cycle Calibrating production to balance growth and returns Indirect Auto Production ($B) and New Origination Yield New Origination Yield 6.9% 7.1% 7.2% 6.8% 6.8% Indirect Auto Production 6.3% 6.4% 6.1% 6.3% 6.2% 6.1% 5.9% 5.8% 5.8%
Slide 34: Auto | Strong Credit Performance Through the Cycle
Auto | Strong Credit Performance Through the Cycle Highlights Auto Loans and % of Total Loans (EOP)($B) Auto % of Total Loans Auto Loans $16.2 $16.0 Strong Credit Quality $13.6 $14.6 $12.2 $12.5 $12.9 $12.9 $13.2 $12.5 • Industry knowledge and $11.0 focus on rigorous customer $9.5 17.1% selection dr
Slide 35: Consumer Finance Trends
Consumer Finance Trends Residential Mortgage RV and Marine 2026 YTD 2025 2024 2023 2022 2021 2020 Originations ($ in billions) $0.3 $1.0 $1.2 $1.6 $1.5 $1.7 $1.6 Avg. LTV 1 94% 93% 95% 96% 104% 111% 108% Avg. FICO 803 809 813 810 813 807 808 Residential Mortgage Residential Mortgage 2 2026 YTD 2025
Slide 36: NDFI Lending Portfolio
NDFI Lending Portfolio Loan Portfolio Composition Highlights $16.4B, 9% of total loans Business/Consumer Credit Mortgage Credit 1 • $2.7B business credit intermediaries with primarily collateral 1% of total loans based lending • $0.6B primarily in auto and credit card ABS Business/Consumer Credit 2
Slide 37: High Quality, Granular Deposit Franchise
High Quality, Granular Deposit Franchise Leading Percent of Insured Deposits1 Banks at 4Q25 HBAN (4Q25) 70% HBAN (1Q26) 69% Bank 1 62% Bank 2 60% Bank 3 59% Bank 4 58% WFC 58% BAC 58% Bank 5 56% Bank 6 55% Bank 7 55% Bank 8 53% Bank 9 53% Bank 10 53% Bank 11 47% JPM 39% C 22% Bank data as of 4Q25. S
Slide 38: Dynamically Optimizing the Securities Portfolio
Dynamically Optimizing the Securities Portfolio Securities + Cash1 Average Highlights • Acquired $9.2bn of securities from Cadence acquisition; Cash $65.0 repositioned $3.4bn longer -duration securities into Securities shorter -duration securities at a 3.81% yield $57.8 $58.2 $57.1 • Securities yiel
Slide 39: Accumulated Other Comprehensive Income Dollars
Accumulated Other Comprehensive Income Dollars AOCI Outlook1 Highlights $ in billions • Projecting ~10% total AOCI accretion by YE26 vs. Peak 4Q25 level AOCI Loss • Dynamically managing hedge position subject to risk profile and market conditions $3.6 Components of Fair Value (FV) Mark on $2.1 Inves
Slide 40: Hedging Balance Update
Hedging Balance Update Hedging Balance Update (as of 3/31/2026) Weighted WAL Program Notional Effective Avg Rate (%) (Years) PF Swaps $4.4 $1.5 3.20 11.80 Total PF Swaps $4.4 $1.5 11.79 RF Swaps $32.3 $26.1 3.30 2.56 Floor Spreads $8.4 $7.2 2.79 / 3.85 1.89 Total RF Swaps & Floor Spreads $40.7 $33.3
Slide 41: Positioning the Balance Sheet for Range of Rate Scenarios
Positioning the Balance Sheet for Range of Rate Scenarios Hedging Program Profile – Effective Swaps1 Objectives Future Effective Swap Profile Capital protection $6.0 $6.8 $7.2 $5.0 $5.0 $5.0 Floor $6.0 in higher rate $6.0 Spreads scenario $6.0 $27.1 Receive $23.4 $25.9 $26.4 $26.1 $26.1 $26.6 $20.3
Slide 42: Credit
Credit (2) Huntington
Slide 43: Commercial Delinquencies
Commercial Delinquencies Commercial (30+ Days1) 0.28% 0.28% 0.29% 0.23% 0.21% 0.21% 0.20% 0.19% 0.18% 0.18% 0.20% 0.19% 0.15% 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 Commercial (90+ Days1) 0.03% 0.03% 0.03% 0.02% 0.02% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 1Q23 2Q2
Slide 44: Consumer Delinquencies
Consumer Delinquencies Consumer (30+ Days1) 2.32% 2.18% 2.04% 1.92% 1.96% 1.93% 1.75% 1.80% 1.75% 1.69% 1.74% 1.72% 1.76% 1.65% 1.47% Residential Mortgage 1.31% 1.38% 1.35% 1.33% 1.19% 1.21% 1.19% 1.25% 1.27% 1.30% 1.14% 1.11% Total Consumer 1.09% 1.07% 0.96% 1.06% 0.86% 1.01% 1.01% 0.96% Automobile
Slide 45: Criticized Commercial Loan Analysis
Criticized Commercial Loan Analysis End of Period ($ in millions) 1Q26 4Q25 3Q25 2Q25 1Q25 Criticized beginning -of-period $5,720 $4,702 $4,650 $4,781 $4,538 Additions / increases 731 721 1,058 881 1,126 Advances 236 204 169 213 239 Upgrades to “Pass” (184) (319) (437) (350) (368) Paydowns (789) (86
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