8-K

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)April 25, 2019

 _____________________________________________________________________________________________________

HUNTINGTON BANCSHARES INCORPORATED

(Exact name of registrant as specified in its charter)

 _____________________________________________________________________________________________________

Maryland	1-34073	31-0724920
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

Huntington Center 41 South High Street Columbus, Ohio	43287
(Address of principal executive offices)	(Zip Code)

(614) 480-2265

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report.)

_______________________________________

Securities registered pursuant to Section 12(b) of the Act:

Title of class	Trading Symbol(s)	Name of exchange on which registered
5.875% Series C Non-Cumulative, perpetual preferred stock	HBANN	Nasdaq
6.250% Series D Non-Cumulative, perpetual preferred stock	HBANO	Nasdaq
Common Stock—Par Value $0.01 per Share	HBAN	Nasdaq

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):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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	o
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 April 25, 2019, Huntington Bancshares Incorporated (“Huntington”) issued a news release announcing its earnings for the quarter ended March 31, 2019. Also on April 25, 2019, 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 April 25, 2019, at 9:00 a.m. (Eastern Daylight 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 13688990. 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 May 10, 2019 at (877) 660-6853 or (201) 612-7415 conference ID 13688990.

The information contained or incorporated by reference in this Current Report on Form 8-K contains certain forward-looking statements, including certain plans, expectations, goals, projections, and statements, which are subject to numerous assumptions, risks, and uncertainties. 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.

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; uncertainty in U.S. fiscal and monetary policy, including the interest rate policies of the Federal Reserve Board; volatility and disruptions in global capital and credit markets; movements in interest rates; competitive pressures on product pricing and services; success, impact, and timing of our business strategies, including market acceptance of any new products or services 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 BCFP; and other factors that may affect our future results. Additional factors that could cause results to differ materially from those described above can be found in our 2018 Annual Report on Form 10-K, as well as our subsequent Securities and Exchange Commission ("SEC") filings, which are on file with the SEC and available in the “Investor Relations” section of our website, http://www.huntington.com, under the heading “Publications and Filings.”

All forward-looking statements speak only as of the date they are made and are based on information available at that time. We do 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 April 25, 2019.

Exhibit 99.2 – Quarterly Financial Supplement, March 2019.

EXHIBIT INDEX

Exhibit No.    Description

Exhibit 99.1News release of Huntington Bancshares Incorporated, dated April 25, 2019

Exhibit 99.2Quarterly Financial Supplement, March 2019

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:	April 25, 2019	By:	/s/ Howell D. McCullough III
			Howell D. McCullough III
			Chief Financial Officer

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

April 25, 2019

Analysts: Mark Muth (mark.muth@huntington.com), 614.480.4720

Media: Matt Samson (matt.b.samson@huntington.com), 312.263.0203

HUNTINGTON BANCSHARES INCORPORATED REPORTS 2019 FIRST QUARTER EARNINGS OF $0.32 PER COMMON SHARE

Results Represent 14% Year-Over-Year Increase in Earnings Per Common Share

COLUMBUS, Ohio – Huntington Bancshares Incorporated (Nasdaq: HBAN; www.huntington.com) reported net income for the 2019 first quarter of $358 million, an increase of 10% from the year-ago quarter. Earnings per common share (EPS) for the 2019 first quarter were $0.32, up 14% from the year-ago quarter. Tangible book value per common share as of 2019 first quarter-end was $7.67, an 8% year-over-year increase. Return on average assets was 1.35%, return on average common equity was 13.8%, and return on average tangible common equity (ROTCE) was 18.3%.

“We had a solid start to the year and are encouraged by the strong balance sheet growth in the first quarter, reflecting the underlying growth of the economies in our footprint,” said Steve Steinour, chairman, president, and CEO. “Huntington is performing well as EPS increased 14% and total revenue increased5% from the year-ago quarter. We are executing on our strategies and continue to make meaningful investments to drive organic revenue growth and to better serve our customers with enhanced digital technology.”

"Average loan growth of 6% year-over-year was driven by both consumer and commercial lending. Commercial and industrial lending remained strong in the first quarter, building on momentum from year-end. Average deposits increased 8% year-over-year as we remain focused on funding growth with core deposits."

"Overall economic activity in our footprint continues to reflect a favorable outlook for both consumers and businesses. Our balance sheet growth expectations for 2019 remain unchanged. Our commercial loan pipelines are steady, and we are seeing the normal seasonal build in our consumer pipelines. Competition for loans and deposits is rational. We do not foresee a recession in the near term; however, our core earnings power, strong capital, aggregate moderate-to-low risk appetite, and long-term strategic alignment position us to withstand economic headwinds,” Steinour said.

2019 First Quarter Highlights compared with 2018 First Quarter:

• Fully-taxable equivalent total revenue increased$57 million, or 5%.

• Fully-taxable equivalent net interest income increased$52 million, or 7%.

• Net interest margin increased9 basis points to 3.39%.

• Noninterest income increased$5 million, or 2%.

• Noninterest expense increased$20 million, or 3%.

• Efficiency ratio of 55.8%, down from 56.8%.

• Average loans and leases increased$4.3 billion, or 6%, year-over-year, including a $2.5 billion, or 7%, increase in consumer loans and a $1.8 billion, or 5%, increase in commercial loans.

1

• Average core deposits increased$5.6 billion, or 8%, year-over-year, driven by a $3.8 billion, or 164%, increase in core certificates of deposit and a $2.3 billion, or 11%, increase in money market deposits.

• Net charge-offs equated to 0.38% of average loans and leases, up from 0.21%.

• Nonperforming asset ratio of 0.61%, up from 0.59%.

• Common Equity Tier 1 (CET1) risk-based capital ratio of 9.84%, down from 10.45% and within our 9% to 10% operating guideline.

• Tangible common equity (TCE) ratio of 7.57%, down from 7.70%.

• Tangible book value per common share increased $0.55, or 8%, to $7.67.

• Repurchased $25 million of common stock (1.8 million shares at an average price of $13.64 per share).

Table 1 – Earnings Performance Summary (GAAP)

	2019			2018
(in millions, except per share data)	First			Fourth			Third			Second			First
	Quarter			Quarter			Quarter			Quarter			Quarter
Net Income	$	358		$	334		$	378		$	355		$	326
Diluted earnings per common share	0.32			0.29			0.33			0.30			0.28
Return on average assets	1.35		%	1.25		%	1.42		%	1.36		%	1.27		%
Return on average common equity	13.8			12.9			14.3			13.2			13.0
Return on average tangible common equity	18.3			17.3			19.0			17.6			17.5
Net interest margin	3.39			3.41			3.32			3.29			3.30
Efficiency ratio	55.8			58.7			55.3			56.6			56.8
Tangible book value per common share	$	7.67		$	7.34		$	7.06		$	7.27		$	7.12
Cash dividends declared per common share	0.14			0.14			0.14			0.11			0.11
Average diluted shares outstanding	1,066			1,073			1,104			1,123			1,125
Average earning assets	$	99,212		$	97,752		$	96,753		$	96,363		$	95,412
Average loans and leases	74,775			73,822			72,751			71,887			70,484
Average core deposits	79,033			79,078			77,680			75,386			73,392
Tangible common equity / tangible assets ratio	7.57		%	7.21		%	7.25		%	7.78		%	7.70		%
Common equity Tier 1 risk-based capital ratio	9.84			9.65			9.89			10.53			10.45
NCOs as a % of average loans and leases	0.38		%	0.27		%	0.16		%	0.16		%	0.21		%
NAL ratio	0.56			0.45			0.50			0.52			0.54
ALLL as a % of total loans and leases	1.02			1.03			1.04			1.02			1.01

2

Net Interest Income, Net Interest Margin, and Average Balance Sheet

Table 2 – Net Interest Income and Net Interest Margin Performance Summary – Inherent Asset Sensitivity Drove NIM Expansion

	2019		2018
($ in millions)	First		Fourth		Third		Second		First		Change (%)
	Quarter		Quarter		Quarter		Quarter		Quarter		LQ		YOY
Net interest income	$	822	$	833	$	802	$	784	$	770	(1	)%	7	%
FTE adjustment	7		8		8		7		7		(13	)	—
Net interest income - FTE	829		841		810		791		777		(1	)	7
Noninterest income	319		329		342		336		314		(3	)	2
Total revenue - FTE	$	1,148	$	1,170	$	1,152	$	1,127	$	1,091	(2	)%	5	%

											Change (bp)
Yield / Cost											LQ		YOY
Total earning assets	4.43	%	4.34	%	4.16	%	4.07	%	3.91	%	9		52
Total loans and leases	4.85		4.76		4.60		4.49		4.32		9		53
Total securities	2.86		2.84		2.73		2.71		2.62		2		24
Total interest-bearing liabilities	1.35		1.23		1.13		1.05		0.82		12		53
Total interest-bearing deposits	0.94		0.84		0.73		0.59		0.43		10		51
Net interest rate spread	3.08		3.11		3.03		3.02		3.09		(3	)	(1	)
Impact of noninterest-bearing funds on margin	0.31		0.30		0.29		0.27		0.21		1		10
Net interest margin	3.39	%	3.41	%	3.32	%	3.29	%	3.30	%	(2	)	9

See Pages 6-8 of Quarterly Financial Supplement for additional detail.

Fully-taxable equivalent (FTE) net interest income for the 2019 first quarter increased $52 million, or 7%, from the 2018 first quarter. This reflected the benefit from the $3.8 billion, or 4%, increase in average earning assets coupled with a 9 basis point increase in the FTE net interest margin (NIM) to 3.39%. Average earning asset yields increased 52 basis points year-over-year, driven by a 53 basis point improvement in loan yields. Average interest-bearing liability costs increased53 basis points, primarily driven by a 51 basis point increase in average interest-bearing deposit costs. The cost of short-term borrowings and long-term debt increased 94 basis points and 106 basis points, respectively. The benefit from noninterest-bearing funds improved 10 basis points versus the year-ago quarter. Embedded within these yields and costs, FTE net interest income during the 2019 first quarter included $15 million, or approximately 6 basis points, of purchase accounting impact compared to $19 million, or approximately 8 basis points, in the year-ago quarter.

Compared to the 2018 fourth quarter, FTE net interest income decreased$12 million, or 1%, primarily reflecting the NIM compression of 2 basis points, more than offsetting the benefit from the $1.5 billion, or 1%, increase in average earning assets. Average earning asset yields increased9 basis points sequentially, driven by a 9 basis point increase in loan yields. Average interest-bearing liability costs increased12 basis points, primarily driven by a 10 basis point increase in average interest-bearing deposit costs. The benefit of noninterest-bearing funding improved 1 basis point linked quarter. The purchase accounting impact on the net interest margin was approximately 6 basis points in the 2019 first quarter, down 1 basis point from the prior quarter. The 2018 fourth quarter included an approximately 2 basis point impact from higher commercial interest recoveries.

3

Table 3 – Average Earning Assets – Broad-based Consumer and C&I Loan Growth Reflects Underlying Economic Strength of the Footprint

	2019		2018
($ in billions)	First		Fourth		Third		Second		First		Change (%)
	Quarter		Quarter		Quarter		Quarter		Quarter		LQ		YOY
Commercial and industrial	$	30.5	$	29.6	$	28.9	$	28.9	$	28.2	3	%	8	%
Commercial real estate	6.9		6.9		7.2		7.4		7.3		(1	)	(6	)
Total commercial	37.4		36.5		36.0		36.2		35.6		2		5
Automobile	12.4		12.4		12.4		12.3		12.1		0		2
Home equity	9.6		9.8		9.9		9.9		10.0		(2	)	(4	)
Residential mortgage	10.8		10.6		10.2		9.6		9.2		2		18
RV and marine	3.3		3.2		3.0		2.7		2.5		2		33
Other consumer	1.3		1.3		1.2		1.2		1.1		(1	)	15
Total consumer	37.4		37.3		36.7		35.7		34.9		0		7
Total loans and leases	74.8		73.8		72.8		71.9		70.5		1		6
Total securities	23.1		22.7		23.2		23.8		24.4		2		(5	)
Held-for-sale and other earning assets	1.3		1.3		0.8		0.7		0.6		3		131
Total earning assets	$	99.2	$	97.8	$	96.8	$	96.4	$	95.4	1	%	4	%

See Page 6 of Quarterly Financial Supplement for additional detail.

Average earning assets for the 2019 first quarterincreased$3.8 billion, or 4%, from the year-ago quarter, primarily reflecting a $4.3 billion, or 6%, increase in average loans and leases. Average commercial and industrial (C&I) loans increased$2.3 billion, or 8%, reflecting growth in corporate banking, asset finance, dealer floorplan, and middle market banking. Average residential mortgage loans increased$1.6 billion, or 18%, driven by the successful expansion of our home lending business over the past two years. Average RV and marine loans increased$0.8 billion, or 33%, primarily reflecting the success of the well-managed geographic expansion over the past two years, while maintaining our commitment to super prime originations. Held-for-sale and other earning assets increased$0.7 billion, or 131%, primarily due to the inclusion of deposits in Federal Reserve Bank balances. These balances were treated as non-earning assets prior to the fourth quarter 2018. As of March 31, 2019, approximately $126 million of loans were included in held-for-sale related to the previously-announced sale of our Wisconsin branches, which is expected to close in the 2019 second quarter. Average securities decreased $1.2 billion, or 5%, primarily due to runoff in the portfolio in 2018.

Compared to the 2018 fourth quarter, average earning assets increased$1.5 billion, or 1%, primarily reflecting the $1.0 billion, or 1%, increase in average loans and leases. Average C&I loans increased$1.0 billion, or 3%, reflecting growth in corporate banking, asset finance, dealer floorplan, and broad-based growth across the specialty lending verticals. Average securities increased$0.5 billion, or 2%, primarily reflecting the timing of purchases in anticipation of future cash flows.

4

Table 4 – Average Liabilities – Growth in Core Deposits Drove Reduction in Wholesale Funding

	2019		2018
	First		Fourth		Third		Second		First		Change (%)
($ in billions)	Quarter		Quarter		Quarter		Quarter		Quarter		LQ		YOY
Demand deposits - noninterest-bearing	$	19.9	$	20.4	$	20.2	$	20.4	$	20.6	(2	)%	(3	)%
Demand deposits - interest-bearing	19.8		19.9		19.6		19.1		18.6		0		6
Total demand deposits	39.7		40.3		39.8		39.5		39.2		(1	)	1
Money market deposits	22.9		22.6		21.5		20.9		20.7		2		11
Savings and other domestic deposits	10.3		10.5		11.4		11.1		11.2		(2	)	(8	)
Core certificates of deposit	6.1		5.7		4.9		3.8		2.3		6		164
Total core deposits	79.0		79.1		77.6		75.4		73.4		0		8
Other domestic deposits of $250,000 or more	0.3		0.3		0.3		0.2		0.2		(3	)	36
Brokered deposits and negotiable CDs	3.4		3.5		3.5		3.7		3.3		(3	)	3
Total deposits	$	82.7	$	82.9	$	81.4	$	79.3	$	76.9	0	%	8	%
Short-term borrowings	$	2.3	$	1.0	$	1.7	$	3.1	$	5.2	131	%	(56	)%
Long-term debt	9.0		8.9		8.9		9.2		9.0		1		0
Total debt	$	11.3	$	9.9	$	10.6	$	12.3	$	14.2	14	%	(20	)%
Total interest-bearing liabilities	$	74.1	$	72.4	$	71.9	$	71.2	$	70.6	2	%	5	%

See Page 6 of Quarterly Financial Supplement for additional detail.

Average total interest-bearing liabilities for the 2019 first quarterincreased$3.6 billion, or 5%, from the year-ago quarter. Average total deposits increased$5.8 billion, or 8%, from the year-ago quarter, while average total core deposits increased$5.6 billion, or 8%. Average core certificates of deposit increased$3.8 billion, or 164%, reflecting consumer deposit growth initiatives primarily in the first three quarters of 2018. Average money market deposits increased$2.3 billion, or 11%, reflecting the shift in promotional pricing to consumer money market accounts in mid-2018. Average interest-bearing demand deposits increased$1.1 billion, or 6%, primarily driven by the shift in commercial balances from noninterest-bearing to interest-bearing checking. Savings and other domestic deposits decreased$0.9 billion, or 8%, primarily reflecting a continued shift in consumer product mix. Average noninterest-bearing demand deposits decreased$0.6 billion, or 3%, primarily driven by the aforementioned shift in commercial checking balances, partially offset by continued growth in consumer noninterest-bearing checking. Average short-term borrowings decreased$2.9 billion, or 56%, as growth in core deposits reduced reliance on wholesale funding. As of March 31, 2019, approximately $845 million of deposits are held-for-sale associated with the previously-mentioned pending Wisconsin branch sale (included in total deposits in Table 4 above).

Compared to the 2018 fourth quarter, average total interest-bearing liabilities increased$1.7 billion, or 2%. Average short-term borrowings increased$1.3 billion, or 131%, as loan growth and seasonality in deposits drove increased borrowings in the quarter.

5

Noninterest Income

Table 5 – Noninterest Income – Modest Year-over-Year Growth, While Linked Quarter Comparisons Impacted by Normal Seasonality

	2019		2018
	First		Fourth			Third			Second		First		Change (%)
($ in millions)	Quarter		Quarter			Quarter			Quarter		Quarter		LQ		YOY
Service charges on deposit accounts	$	87	$	94		$	93		$	91	$	86	(7	)%	1	%
Card and payment processing income	56		58			57			56		53		(3	)	6
Trust and investment management services	44		42			43			42		44		5		0
Mortgage banking income	21		23			31			28		26		(9	)	(19	)
Capital markets fees	22		34			26			26		21		(35	)	5
Insurance income	21		21			19			21		21		0		0
Bank owned life insurance income	16		16			19			17		15		0		7
Gain on sale of loans and leases	13		16			16			15		8		(19	)	63
Securities gains (losses)	0		(19		)	(2		)	0		0		NM		NM
Other income	39		44			40			40		40		(11	)	(3	)
Total noninterest income	$	319	$	329		$	342		$	336	$	314	(3	)%	2	%

See Pages 9-10 of Quarterly Financial Supplement for additional detail.

Total noninterest income for the 2019 first quarterincreased$5 million, or 2%, from the year-ago quarter. Gain on sale of loans and leases increased$5 million, or 63%, primarily reflecting the gain on the sale of asset finance leases and higher SBA sales. Mortgage banking income decreased$5 million, or 19%, primarily reflecting net mortgage servicing rights (MSR) risk management-related activities and lower origination volume.

Compared to the 2018 fourth quarter, total noninterest income decreased$10 million, or 3%. Securities losses were less than $1 million compared to $19 million in the prior quarter, reflecting the portfolio repositioning completed in the 2018 fourth quarter. Capital market fees decreased$12 million, or 35%, primarily driven by $6 million of unfavorable commodities derivatives mark-to-market adjustments related to a commercial customer default and decreased interest rate derivative and syndication activity. Service charges on deposit accounts decreased$7 million, or 7%, primarily reflecting seasonality. Other income decreased$5 million, or 11%, primarily reflecting lower income on terminated asset finance leases.

6

Noninterest Expense

Table 6 – Noninterest Expense – Continued Thoughtful Investment in Colleagues and Digital Technology

	2019		2018
	First		Fourth		Third		Second		First		Change (%)
($ in millions)	Quarter		Quarter		Quarter		Quarter		Quarter		LQ		YOY
Personnel costs	$	394	$	399	$	388	$	396	$	376	(1	)%	5	%
Outside data processing and other services	81		83		69		69		73		(2	)	11
Net occupancy	42		70		38		35		41		(40	)	2
Equipment	40		48		38		38		40		(17	)	0
Deposit and other insurance expense	8		9		18		18		18		(11	)	(56	)
Professional services	12		17		17		15		11		(29	)	9
Marketing	7		15		12		18		8		(53	)	(13	)
Amortization of intangibles	13		13		13		13		14		0		(7	)
Other expense	56		57		58		50		52		(2	)	8
Total noninterest expense	$	653	$	711	$	651	$	652	$	633	(8	)%	3	%
(in thousands)
Average full-time equivalent employees	15.7		15.7		15.8		15.7		15.6		0	%	1	%

See Page 9 of Quarterly Financial Supplement for additional detail.

Total noninterest expense for the 2019 first quarterincreased$20 million, or 3%, from the year-ago quarter. Personnel costs increased$18 million, or 5%, primarily reflecting strategic hiring, the implementation of annual merit increases in the 2018 second quarter, and increased benefits costs. Outside data processing and other services increased$8 million, or 11%, primarily driven by higher technology investment costs. Deposit and other insurance expense decreased$10 million, or 56%, due to the discontinuation of the FDIC surcharge in the 2018 fourth quarter.

Total noninterest expense decreased$58 million, or 8%, from the 2018 fourth quarter. Net occupancy decreased$28 million, or 40%, reflecting $28 million of branch and facility consolidation-related expense in the 2018 fourth quarter. Equipment decreased$8 million, or 17%, reflecting $7 million of branch and facility consolidation-related expense in the 2018 fourth quarter. Marketing expense decreased$8 million, or 53%, reflecting the timing of marketing campaigns and deposit promotions. Personnel costs decreased$5 million, or 1%, primarily reflecting lower performance-based incentive compensation.

7

Table 7 – Credit Quality Metrics – NCOs Near Low End of Average Through-the-Cycle Target Range

	2019			2018
($ in millions)	March 31,			December 31,			September 30,			June 30,			March 31,
Total nonaccrual loans and leases	$	417		$	340		$	370		$	378		$	383
Total other real estate	18			23			27			28			30
Other NPAs (1)	26			24			6			6			7
Total nonperforming assets	461			387			403			412			420
Accruing loans and leases past due 90 days or more	147			170			154			132			106
NPAs + accruing loans and lease past due 90 days or more	$	608		$	557		$	557		$	544		$	526
NAL ratio (2)	0.56		%	0.45		%	0.50		%	0.52		%	0.54		%
NPA ratio (3)	0.61			0.52			0.55			0.57			0.59
(NPAs+90 days)/(Loans+OREO)	0.81			0.74			0.76			0.75			0.74
Provision for credit losses	$	67		$	60		$	53		$	56		$	66
Net charge-offs	71			50			29			28			38
Net charge-offs / Average total loans	0.38		%	0.27		%	0.16		%	0.16		%	0.21		%
Allowance for loans and lease losses (ALLL)	$	764		$	772		$	761		$	741		$	721
Allowance for unfunded loan commitments and letters of credit	100			96			97			93			85
Allowance for credit losses (ACL)	$	864		$	868		$	858		$	834		$	806
ALLL as a % of:
Total loans and leases	1.02		%	1.03		%	1.04		%	1.02		%	1.01		%
NALs	183			228			206			197			188
NPAs	166			200			189			180			172

(1) Other nonperforming assets include certain impaired investment 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 11-14 of Quarterly Financial Supplement for additional detail.

Overall asset quality performance remained consistent with prior periods although there was some volatility in the commercial portfolio. The consumer portfolio metrics continue to reflect our focus on high quality borrowers, and a modest seasonal impact evident across our portfolios.  The commercial portfolios show higher net charge-offs (NCOs) and nonaccrual loans and leases (NALs) in the first quarter associated with a small number of specific borrowers, but has generally performed consistently, with some quarter-to-quarter volatility as a result of the absolute low level of problem loans.

Nonperforming assets (NPAs) increased to $461 million, or 0.61% of total loans and leases and OREO. Nonaccrual loans and leases increased$34 million, or 9%, from the year-ago quarter to $417 million, or 0.56% of total loans and leases. The year-over-year increase was centered in the C&I portfolio, partially offset by a decrease in the commercial real estate, residential mortgage, and home equity portfolios. OREO balances decreased$12 million, or 40%, primarily reflecting a continued reduction in residential properties. On a year-over-year basis, there is also an increase in Other NPAs associated with the investment portfolio. On a linked quarter basis, NALs increased$77 million, or 23%, while NPAs increased$74 million, or 19%.

The provision for credit losses increased$1 million year-over-year to $67 million in the 2019 first quarter. Net charge-offs increased$33 million to $71 million. The increase was centered in two specific commercial credit relationships. Consumer charge-offs have remained consistent over the past year. NCOs represented an annualized 0.38% of average loans and leases in the current quarter, up from 0.27% in the prior quarter and up from 0.21% in the year-ago quarter. We remain confident in the long-term performance of our credit portfolios.

The allowance for loan and lease losses as a percentage of total loans and leases increased to 1.02% compared to 1.01% a year ago, while the ALLL as a percentage of period-end total NALs decreased to 183% from 188% over the same period. The increase in the ALLL is primarily the result of loan growth. We believe the level

8

of the ALLL and ACL are appropriate given the low level of problem loans and the current composition of the overall loan and lease portfolio.

Capital

Table 8 – Capital Ratios – Managing Capital Ratios within Targeted Ranges

	2019			2018
($ in billions)	March 31,			December 31,			September 30,			June 30,			March 31,
Tangible common equity / tangible assets ratio	7.57		%	7.21		%	7.25		%	7.78		%	7.70		%
Common equity tier 1 risk-based capital ratio (1)	9.84		%	9.65		%	9.89		%	10.53		%	10.45		%
Regulatory Tier 1 risk-based capital ratio (1)	11.25		%	11.06		%	11.33		%	11.99		%	11.94		%
Regulatory Total risk-based capital ratio (1)	13.11		%	12.98		%	13.36		%	13.97		%	13.92		%
Total risk-weighted assets (1)	$	86.0		$	85.7		$	83.6		$	83.0		$	81.4

(1) March 31, 2019 figures are estimated. Amounts are presented on a Basel III standardized approach basis for calculating risk-weighted assets.

See Pages 15-16 of Quarterly Financial Supplement for additional detail.

The tangible common equity to tangible assets ratio was 7.57% at March 31, 2019, down 13 basis points from a year ago. Common Equity Tier 1 (CET1) risk-based capital ratio was 9.84%, down from 10.45% a year ago. The regulatory Tier 1 risk-based capital ratio was 11.25% compared to 11.94% at March 31, 2018. All capital ratios were impacted by the repurchase of 60.5 million common shares over the last four quarters. The Company repurchased $25 million of common stock during the 2019 first quarter at an average cost of $13.64 per share. There is $152 million of share repurchase authorization remaining under the 2018 Capital Plan.

Income Taxes

The provision for income taxes was $63 million in the 2019 first quarter compared to $59 million in the 2018 first quarter. The effective tax rates for the 2019 first quarter and 2018 first quarter were 15.0% and 15.3%, respectively. The 2019 first quarter and 2018 first quarter included $2 million and $3 million, respectively, of tax benefits related to stock-based compensation.

At March 31, 2019, we had a net federal deferred tax liability of $159 million and a net state deferred tax asset of $35 million.

Expectations - 2019

With the assumption of no interest rate hikes in 2019, full-year revenue is expected to increase approximately 4% to 7%. The full-year NIM is expected to remain relatively flat on a GAAP basis versus 2018, inclusive of the anticipated reduction in the benefit of purchase accounting and the cost of the hedging strategy we began implementing in the 2019 first quarter. The full-year core NIM is expected to expand modestly. Full-year noninterest expense is expected to increase approximately 2% to 4%.

Average loans and leases are expected to increase approximately 4% to 6% on an annual basis. Average total deposits are expected to increase approximately 4% to 6% on an annual basis.

Asset quality metrics are expected to remain better than our average through-the-cycle target ranges, with some moderate quarterly volatility.

The effective tax rate for 2019 is expected to be in the range of 15.5% to 16.5%.

Conference Call / Webcast Information

9

Huntington’s senior management will host an earnings conference call on April 25, 2019, at 9:00 a.m. (Eastern Daylight 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 #13688990. 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 May 10, 2019 at (877) 660-6853 or (201) 612-7415; conference ID #13688990.

Please see the 2019First 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 regional bank holding company headquartered in Columbus, Ohio, with $108 billion of assets and a network of 898 full-service branches, including 12 Private Client Group offices, and 1,727 ATMs across eight Midwestern states. Founded in 1866, The Huntington National Bank and its affiliates provide consumer, small business, commercial, treasury management, wealth management, brokerage, trust, and insurance services. Huntington also provides vehicle finance, equipment finance, national settlement, and capital market services that extend beyond its core states. Visit huntington.com for more information.

Caution regarding Forward-Looking Statements

This 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 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; uncertainty in U.S. fiscal and monetary policy, including the interest rate policies of the Federal Reserve Board; volatility and disruptions in global capital and credit markets; movements in interest rates; competitive pressures on product pricing and services; success, impact, and timing of our business strategies, including market acceptance of any new products or services 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 BCFP; and other factors that may affect our future results. Additional factors that could cause results to differ materially from those described above can be found in our 2018 Annual Report on Form 10-K, as well as our subsequent Securities and Exchange Commission ("SEC") filings, which are on file with the SEC and available in the “Investor Relations” section of our website, http://www.huntington.com, under the heading “Publications and Filings.”

All forward-looking statements speak only as of the date they are made and are based on information available at that time. We do 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

10

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, 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.

Earnings per Share Equivalent Data

Significant income or expense items may be expressed on a per common share basis. This is done for analytical and decision-making purposes to better discern underlying trends in total corporate earnings per share performance excluding the impact of such items. Investors may also find this information helpful in their evaluation of the company’s financial performance against published earnings per share mean estimate amounts, which typically exclude the impact of Significant Items. Earnings per share equivalents are usually calculated by applying an effective tax rate to a pre-tax amount to derive an after-tax amount, which is divided by the average shares outstanding during the respective reporting period. Occasionally, when the item involves special tax treatment, the after-tax amount is disclosed separately, with this then being the amount used to calculate the earnings per share equivalent.

Rounding

Please note that columns of data in this document may not add due to rounding.

Significant 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 “Significant Items”. Most often, these Significant Items result from factors originating outside the company – e.g., regulatory actions/assessments, windfall gains, changes in accounting principles, one-time tax assessments/refunds, and litigation actions. In other cases they may result from management decisions associated with significant corporate actions out of the ordinary course of business – e.g., merger/restructuring charges, recapitalization actions, and goodwill impairment.

Even though certain revenue and expense items are naturally subject to more volatility than others due to changes in market and economic environment conditions, as a general rule volatility alone does not define a Significant Item. For example, changes in the provision for credit losses, gains/losses from investment activities, and asset valuation write-downs reflect ordinary banking activities and are, therefore, typically excluded from consideration as a Significant Item.

Management believes the disclosure of “Significant Items”, when appropriate, aids analysts/investors in better understanding corporate performance and trends so that they can ascertain which of such items, if any, they may wish to include/exclude from their analysis of the company’s performance - i.e., within the context of determining how that performance differed from their expectations, as well as how, if at all, to adjust their estimates of future performance accordingly. To this end, Management has adopted a practice of listing

11

“Significant Items” in its external disclosure documents (e.g., earnings press releases, quarterly performance discussions, investor presentations, and Forms 10-Q and 10-K).

“Significant Items” for any particular period are not intended to be a complete list of items that may materially impact current or future period performance. A number of items could materially impact these periods, including those which may be described from time to time in Huntington’s filings with the Securities and Exchange Commission.

###

12

EX-99.2

Exhibit 99.2

HUNTINGTON BANCSHARES INCORPORATED

Quarterly Financial Supplement

March 31, 2019

Table of Contents

Quarterly Key Statistics	1
Consolidated Balance Sheets	3
Loans and Leases Composition	4
Deposits Composition	5
Consolidated Quarterly Average Balance Sheets	6
Consolidated Quarterly Net Interest Margin - Interest Income / Expense	7
Consolidated Quarterly Net Interest Margin - Yield	8
Selected Quarterly Income Statement Data	9
Quarterly Mortgage Banking Income	10
Quarterly Credit Reserves Analysis	11
Quarterly Net Charge-Off Analysis	12
Quarterly Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)	13
Quarterly Accruing Past Due Loans and Leases and Accruing and Nonaccruing Troubled Debt Restructured Loans	14
Quarterly Capital Under Current Regulatory Standards (Basel III) and Other Capital Data	15
Quarterly Common Stock Summary, Non-Regulatory Capital, and Other Data	16

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 percent.

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 data, share count in thousands)	March 31,			December 31,			March 31,			Percent Changes vs.
	2019			2018			2018			4Q18		1Q18
Net interest income(2)	$	829		$	841		$	777		(1	)%	7	%
FTE adjustment	(7		)	(8		)	(7		)	13		—
Net interest income	822			833			770			(1	)	7
Provision for credit losses	67			60			66			12		2
Noninterest income	319			329			314			(3	)	2
Noninterest expense	653			711			633			(8	)	3
Income before income taxes	421			391			385			8		9
Provision for income taxes	63			57			59			11		7
Net income	358			334			326			7		10
Dividends on preferred shares	19			19			12			—		58
Net income applicable to common shares	$	339		$	315		$	314		8	%	8	%
Net income per common share - diluted	$	0.32		$	0.29		$	0.28		10	%	14	%
Cash dividends declared per common share	0.14			0.14			0.11			—		27
Tangible book value per common share at end of period	7.67			7.34			7.12			4		8
Number of common shares repurchased	1,833			14,967			3,007			(88	)	(39	)
Average common shares - basic	1,046,995			1,054,460			1,083,836			(1	)	(3	)
Average common shares - diluted	1,065,638			1,073,055			1,124,778			(1	)	(5	)
Ending common shares outstanding	1,046,440			1,046,767			1,101,796			—		(5	)
Return on average assets	1.35		%	1.25		%	1.27		%
Return on average common shareholders’ equity	13.8			12.9			13.0
Return on average tangible common shareholders’ equity(1)	18.3			17.3			17.5
Net interest margin(2)	3.39			3.41			3.30
Efficiency ratio(3)	55.8			58.7			56.8
Effective tax rate	15.0			14.6			15.3
Average total assets	$	107,511		$	105,877		$	103,848		2		4
Average earning assets	99,212			97,752			95,412			1		4
Average loans and leases	74,775			73,822			70,484			1		6
Average loans and leases - linked quarter annualized growth rate	5.2		%	5.9		%	9.0		%
Average total deposits	$	82,772		$	82,931		$	76,946		—		8
Average core deposits(4)	79,033			79,078			73,392			—		8
Average core deposits - linked quarter annualized growth rate	(0.2		)%	7.2		%	(3.0		)%
Average shareholders’ equity	11,156			10,889			10,855			2		3
Average common total shareholders' equity	9,953			9,686			9,794			3		2
Average tangible common shareholders' equity	7,746			7,460			7,533			4		3
Total assets at end of period	108,203			108,781			104,246			(1	)	4
Total shareholders’ equity at end of period	11,432			11,102			11,308			3		1
NCOs as a % of average loans and leases	0.38		%	0.27		%	0.21		%
NAL ratio	0.56			0.45			0.54
NPA ratio(5)	0.61			0.52			0.59
Allowance for loan and lease losses (ALLL) as a % of total loans and leases at the end of period	1.02			1.03			1.01
Common equity tier 1 risk-based capital ratio(6)	9.84			9.65			10.45
Tangible common equity / tangible asset ratio(7)	7.57			7.21			7.70

See Notes to the Quarterly Key Statistics.

1

Key Statistics Footnotes

(1) 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.

(2) On a fully-taxable equivalent (FTE) basis 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 real estate owned.

(6) March 31, 2019, 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.

2

Huntington Bancshares Incorporated

Consolidated Balance Sheets

	March 31,			December 31,
(dollar amounts in millions)	2019			2018			Percent Changes
	(Unaudited)
Assets
Cash and due from banks	$	804		$	1,108		(27	)%
Interest-bearing deposits in Federal Reserve Bank	532			1,564			(66	)
Interest-bearing deposits in banks	147			53			177
Trading account securities	166			105			58
Available-for-sale securities	13,982			13,780			1
Held-to-maturity securities	8,747			8,565			2
Other securities	486			565			(14	)
Loans held for sale	693			804			(14	)
Loans and leases(1)	75,079			74,900			—
Allowance for loan and lease losses	(764		)	(772		)	1
Net loans and leases	74,315			74,128			—
Bank owned life insurance	2,516			2,507			—
Premises and equipment	784			790			(1	)
Goodwill	1,990			1,989			—
Service rights and other intangible assets	513			535			(4	)
Other assets	2,528			2,288			10
Total assets	$	108,203		$	108,781		(1	)%
Liabilities and shareholders’ equity
Liabilities
Deposits(2)	$	82,155		$	84,774		(3	)%
Short-term borrowings	2,862			2,017			42
Long-term debt	9,400			8,625			9
Other liabilities	2,354			2,263			4
Total liabilities	96,771			97,679			(1	)
Shareholders' equity
Preferred stock	1,203			1,203			—
Common stock	11			11			—
Capital surplus	9,167			9,181			—
Less treasury shares, at cost	(45		)	(45		)	—
Accumulated other comprehensive loss	(455		)	(609		)	25
Retained earnings (deficit)	1,551			1,361			14
Total shareholders’ equity	11,432			11,102			3
Total liabilities and shareholders’ equity	$	108,203		$	108,781		(1	)%
Common shares authorized (par value of $0.01)	1,500,000,000			1,500,000,000
Common shares outstanding	1,046,440,116			1,046,767,252
Treasury shares outstanding	3,813,304			3,817,385
Preferred stock, authorized shares	6,617,808			6,617,808
Preferred shares outstanding	740,500			740,500

(1) See page 4 for detail of loans and leases.

(2) See page 5 for detail of deposits.

3

Huntington Bancshares Incorporated

Loans and Leases Composition

(Unaudited)

	March 31,				December 31,				September 30,				June 30,				March 31,
(dollar amounts in millions)	2019				2018				2018				2018				2018
Ending Balances by Type:
Total loans
Commercial:
Commercial and industrial	$	30,972	41	%	$	30,605	41	%	$	29,196	40	%	$	28,850	40	%	$	28,622	40	%
Commercial real estate:
Construction	1,152		2		1,185		2		1,111		2		1,083		1		1,167		2
Commercial	5,643		8		5,657		8		5,962		8		6,118		8		6,245		9
Commercial real estate	6,795		10		6,842		10		7,073		10		7,201		9		7,412		11
Total commercial	37,767		51		37,447		51		36,269		50		36,051		49		36,034		51
Consumer:
Automobile	12,272		16		12,429		16		12,375		17		12,390		17		12,146		17
Home equity	9,551		13		9,722		13		9,850		13		9,907		14		9,987		14
Residential mortgage	10,885		14		10,728		14		10,459		14		10,006		14		9,357		13
RV and marine	3,344		4		3,254		4		3,152		4		2,846		4		2,549		3
Other consumer	1,260		2		1,320		2		1,265		2		1,206		2		1,090		2
Total consumer	37,312		49		37,453		49		37,101		50		36,355		51		35,129		49
Total loans and leases	$	75,079	100	%	$	74,900	100	%	$	73,370	100	%	$	72,406	100	%	$	71,163	100	%

	March 31,				December 31,				September 30,				June 30,				March 31,
(dollar amounts in millions)	2019				2018				2018				2018				2018
Ending Balances by Business Segment:
Consumer and Business Banking	$	22,175	29	%	$	22,333	30	%	$	22,271	30	%	$	21,888	30	%	$	21,471	31	%
Commercial Banking	27,554		37		27,191		36		26,465		36		26,373		36		26,311		37
Vehicle Finance	19,332		26		19,434		26		18,880		26		18,569		26		18,090		25
RBHPCG	5,954		8		5,886		8		5,734		8		5,527		8		5,227		7
Treasury / Other	64		—		56		—		20		—		49		—		64		—
Total loans and leases	$	75,079	100	%	$	74,900	100	%	$	73,370	100	%	$	72,406	100	%	$	71,163	100	%
Average Balances by Business Segment:
Consumer and Business Banking	$	22,241	30	%	$	22,321	30	%	$	22,049	30	%	$	21,653	31	%	$	21,429	31	%
Commercial Banking	27,174		36		26,405		36		26,322		36		26,505		37		25,969		37
Vehicle Finance	19,340		26		19,177		26		18,640		26		18,280		25		17,814		25
RBHPCG	5,920		8		5,793		8		5,641		8		5,355		7		5,181		7
Treasury / Other	100		—		126		—		99		—		94		—		91		—
Total loans and leases	$	74,775	100	%	$	73,822	100	%	$	72,751	100	%	$	71,887	100	%	$	70,484	100	%

4

Huntington Bancshares Incorporated

Deposits Composition

(Unaudited)

	March 31,				December 31,				September 30,				June 30,				March 31,
(dollar amounts in millions)	2019				2018				2018				2018				2018
Ending Balances by Type:
Demand deposits - noninterest-bearing	$	20,036	24	%	$	21,783	26	%	$	19,863	24	%	$	20,353	26	%	$	20,807	26	%
Demand deposits - interest-bearing	19,906		24		20,042		24		19,615		24		19,026		24		19,337		25
Money market deposits	22,931		28		22,721		27		21,411		26		20,990		26		20,849		26
Savings and other domestic deposits	10,277		13		10,451		12		11,604		14		10,987		14		11,291		14
Core certificates of deposit	6,007		7		5,924		7		5,358		7		4,402		6		3,157		4
Total core deposits	79,157		96		80,921		96		77,851		95		75,758		96		75,441		95
Other domestic deposits of $250,000 or more	313		1		337		—		318		1		265		—		228		—
Brokered deposits and negotiable CDs	2,685		3		3,516		4		3,520		4		3,564		4		3,802		5
Total deposits	$	82,155	100	%	$	84,774	100	%	$	81,689	100	%	$	79,587	100	%	$	79,471	100	%
Total core deposits:
Commercial	$	33,546	42	%	$	37,268	46	%	$	35,455	46	%	$	34,094	45	%	$	34,615	46	%
Consumer	45,611		58		43,653		54		42,396		54		41,664		55		40,826		54
Total core deposits	$	79,157	100	%	$	80,921	100	%	$	77,851	100	%	$	75,758	100	%	$	75,441	100	%
Ending Balances by Business Segment:
Consumer and Business Banking	$	52,354	64	%	$	50,300	59	%	$	49,434	61	%	$	48,186	60	%	$	47,124	59	%
Commercial Banking	20,543		25		23,185		28		22,288		27		21,142		27		21,838		28
Vehicle Finance	327		—		346		—		348		—		340		—		345		—
RBHPCG	5,959		7		6,809		8		5,783		7		5,985		8		6,053		8
Treasury / Other(1)	2,972		4		4,134		5		3,836		5		3,934		5		4,111		5
Total deposits	$	82,155	100	%	$	84,774	100	%	$	81,689	100	%	$	79,587	100	%	$	79,471	100	%

	March 31,				December 31,				September 30,				June 30,				March 31,
(dollar amounts in millions)	2019				2018				2018				2018				2018
Average Balances by Business Segment:
Consumer and Business Banking	$	50,961	62	%	$	50,037	61	%	$	48,659	60	%	$	47,242	60	%	$	45,310	59	%
Commercial Banking	21,739		26		22,673		27		22,823		28		21,671		27		21,679		28
Vehicle Finance	305		—		335		—		337		—		328		—		349		—
RBHPCG	5,942		7		5,936		7		5,694		7		5,947		8		5,873		8
Treasury / Other(1)	3,825		5		3,950		5		3,985		5		4,102		5		3,735		5
Total deposits	$	82,772	100	%	$	82,931	100	%	$	81,498	100	%	$	79,290	100	%	$	76,946	100	%

(1) Comprised primarily of national market deposits.

5

Huntington Bancshares Incorporated

Consolidated Quarterly Average Balance Sheets

(Unaudited)

	Quarterly Average Balances (1)
	March 31,			December 31,			September 30,			June 30,			March 31,			Percent Changes vs.
(dollar amounts in millions)	2019			2018			2018			2018			2018			4Q18		1Q18
Assets
Interest-bearing deposits in Federal Reserve Bank (2)	$	501		$	483		$	—		$	—		$	—		4	%	100	%
Interest-bearing deposits in banks	109			97			83			84			90			12		21
Securities:
Trading account securities	138			131			82			82			87			5		59
Available-for-sale securities:
Taxable	10,752			10,351			10,469			10,832			11,158			4		(4	)
Tax-exempt	3,048			3,176			3,496			3,554			3,633			(4	)	(16	)
Total available-for-sale securities	13,800			13,527			13,965			14,386			14,791			2		(7	)
Held-to-maturity securities - taxable	8,653			8,433			8,560			8,706			8,877			3		(3	)
Other securities	536			565			567			599			605			(5	)	(11	)
Total securities	23,127			22,656			23,174			23,773			24,360			2		(5	)
Loans held for sale	700			694			745			619			478			1		46
Loans and leases:(3)
Commercial:
Commercial and industrial	30,546			29,557			28,870			28,863			28,243			3		8
Commercial real estate:
Construction	1,174			1,138			1,132			1,126			1,189			3		(1	)
Commercial	5,686			5,806			6,019			6,233			6,142			(2	)	(7	)
Commercial real estate	6,860			6,944			7,151			7,359			7,331			(1	)	(6	)
Total commercial	37,406			36,501			36,021			36,222			35,574			2		5
Consumer:
Automobile	12,361			12,423			12,368			12,271			12,100			—		2
Home equity	9,641			9,817			9,873			9,941			10,040			(2	)	(4	)
Residential mortgage	10,787			10,574			10,236			9,624			9,174			2		18
RV and marine	3,296			3,216			3,016			2,667			2,481			2		33
Other consumer	1,284			1,291			1,237			1,162			1,115			(1	)	15
Total consumer	37,369			37,321			36,730			35,665			34,910			—		7
Total loans and leases	74,775			73,822			72,751			71,887			70,484			1		6
Allowance for loan and lease losses	(780		)	(777		)	(759		)	(742		)	(709		)	—		(10	)
Net loans and leases	73,995			73,045			71,992			71,145			69,775			1		6
Total earning assets	99,212			97,752			96,753			96,363			95,412			1		4
Cash and due from banks	853			909			1,330			1,283			1,217			(6	)	(30	)
Intangible assets	2,265			2,288			2,305			2,318			2,332			(1	)	(3	)
All other assets	5,961			5,705			5,726			5,599			5,596			4		7
Total assets	$	107,511		$	105,877		$	105,355		$	104,821		$	103,848		2	%	4	%
Liabilities and shareholders’ equity
Deposits:
Demand deposits - noninterest-bearing	19,938			20,384			20,230			20,382			20,572			(2	)%	(3	)%
Demand deposits - interest-bearing	19,770			19,860			19,553			19,121			18,630			—		6
Total demand deposits	39,708			40,244			39,783			39,503			39,202			(1	)	1
Money market deposits	22,935			22,595			21,547			20,943			20,678			2		11
Savings and other domestic deposits	10,338			10,534			11,434			11,146			11,219			(2	)	(8	)
Core certificates of deposit	6,052			5,705			4,916			3,794			2,293			6		164
Total core deposits	79,033			79,078			77,680			75,386			73,392			—		8
Other domestic deposits of $250,000 or more	335			346			285			243			247			(3	)	36
Brokered deposits and negotiable CDs	3,404			3,507			3,533			3,661			3,307			(3	)	3
Total deposits	82,772			82,931			81,498			79,290			76,946			—		8
Short-term borrowings	2,320			1,006			1,732			3,082			5,228			131		(56	)
Long-term debt	8,979			8,871			8,915			9,225			8,958			1		—
Total interest-bearing liabilities	74,133			72,424			71,915			71,215			70,560			2		5
All other liabilities	2,284			2,180			2,054			1,891			1,861			5		23
Shareholders’ equity	11,156			10,889			11,156			11,333			10,855			2		3
Total liabilities and shareholders’ equity	$	107,511		$	105,877		$	105,355		$	104,821		$	103,848		2	%	4	%

(1) Amounts include the effects of hedge and risk management activities associated with the respective asset and liability categories.

(2) Deposits in Federal Reserve Bank were treated as non-earning assets prior to 4Q 2018.

(3) Amounts include the effects of hedge and risk management activities associated with the respective asset and liability categories.

6

Huntington Bancshares Incorporated

Consolidated Quarterly Net Interest Margin - Interest Income / Expense(1)(2)

(Unaudited)

	Quarterly Interest Income / Expense
	March 31,		December 31,		September 30,		June 30,		March 31,
(dollar amounts in millions)	2019		2018		2018		2018		2018
Assets
Interest-bearing deposits in Federal Reserve Bank (3)	$	3	$	3	$	—	$	—	$	—
Interest-bearing deposits in banks	1		1		—		1		—
Securities:
Trading account securities	1		1		—		—		—
Available-for-sale securities:
Taxable	76		70		69		71		70
Tax-exempt	28		33		30		30		29
Total available-for-sale securities	104		103		99		101		99
Held-to-maturity securities - taxable	54		52		52		53		54
Other securities	6		5		7		7		6
Total securities	165		161		158		161		159
Loans held for sale	7		7		8		6		5
Loans and leases:
Commercial:
Commercial and industrial	375		363		342		329		303
Commercial real estate:
Construction	16		16		15		15		14
Commercial	71		74		72		72		65
Commercial real estate	87		90		87		87		79
Total commercial	462		453		429		416		382
Consumer:
Automobile	120		122		117		111		106
Home equity	133		135		130		126		121
Residential mortgage	104		101		97		89		84
RV and marine	40		41		39		34		31
Other consumer	42		40		37		35		33
Total consumer	439		439		420		395		375
Total loans and leases	901		892		849		811		757
Total earning assets	$	1,077	$	1,064	$	1,015	$	979	$	921
Liabilities
Deposits:
Demand deposits - noninterest-bearing	$	—	$	—	$	—	$	—	$	—
Demand deposits - interest-bearing	27		25		22		18		13
Total demand deposits	27		25		22		18		13
Money market deposits	59		52		42		31		23
Savings and other domestic deposits	6		5		7		6		6
Core certificates of deposit	31		29		23		14		6
Total core deposits	123		111		94		69		48
Other domestic deposits of $250,000 or more	2		1		1		1		—
Brokered deposits and negotiable CDs	20		20		17		17		12
Total deposits	145		132		112		87		60
Short-term borrowings	14		6		9		14		19
Long-term debt	89		85		84		87		65
Total interest bearing liabilities	248		223		205		188		144
Net interest income	$	829	$	841	$	810	$	791	$	777

(1) Fully-taxable equivalent (FTE) income and expense calculated assuming a 21% tax rate. See page 9 for the FTE adjustment.

(2) Amounts include the effects of hedge and risk management activities associated with the respective asset and liability categories.

(3) Deposits in Federal Reserve Bank were treated as non-earning assets prior to 4Q 2018 and associated interest income was not material.

7

Huntington Bancshares Incorporated

Consolidated Quarterly Net Interest Margin - Yield

(Unaudited)

	Quarterly Average Rates(2)
	March 31,		December 31,		September 30,		June 30,		March 31,
Fully-taxable equivalent basis(1)	2019		2018		2018		2018		2018
Assets
Interest-bearing deposits in Federal Reserve Bank (2)	2.40	%	2.33	%	—	%	—	%	—	%
Interest-bearing deposits in banks	1.75		1.97		1.95		1.95		1.97
Securities:
Trading account securities	2.03		1.94		0.26		0.23		0.15
Available-for-sale securities:
Taxable	2.82		2.71		2.61		2.63		2.51
Tax-exempt	3.69		4.12		3.53		3.35		3.18
Total available-for-sale securities	3.01		3.04		2.84		2.81		2.67
Held-to-maturity securities - taxable	2.52		2.45		2.43		2.42		2.45
Other securities	4.51		4.24		4.58		4.58		3.98
Total securities	2.86		2.84		2.73		2.71		2.62
Loans held for sale	4.07		4.04		4.45		4.17		3.82
Loans and leases:(4)
Commercial:
Commercial and industrial	4.91		4.81		4.64		4.52		4.28
Commercial real estate:
Construction	5.58		5.47		5.31		5.26		4.73
Commercial	5.00		4.99		4.63		4.58		4.24
Commercial real estate	5.10		5.07		4.74		4.68		4.32
Total commercial	4.94		4.86		4.66		4.55		4.29
Consumer:
Automobile	3.95		3.88		3.75		3.63		3.56
Home equity	5.61		5.45		5.21		5.09		4.90
Residential mortgage	3.86		3.82		3.78		3.69		3.66
RV and marine	4.96		5.10		5.06		5.11		5.11
Other consumer	13.07		12.35		12.16		11.90		11.78
Total consumer	4.75		4.67		4.54		4.43		4.34
Total loans and leases	4.85		4.76		4.60		4.49		4.32
Total earning assets	4.43		4.34		4.16		4.07		3.91
Liabilities
Deposits:
Demand deposits - noninterest-bearing	—		—		—		—		—
Demand deposits - interest-bearing	0.56		0.48		0.45		0.38		0.29
Total demand deposits	0.28		0.24		0.22		0.18		0.14
Money market deposits	1.04		0.91		0.77		0.60		0.45
Savings and other domestic deposits	0.23		0.23		0.24		0.21		0.20
Core certificates of deposit	2.11		2.00		1.82		1.56		1.01
Total interest-bearing core deposits	0.85		0.75		0.65		0.51		0.36
Other domestic deposits of $250,000 or more	1.82		1.67		1.40		1.01		0.69
Brokered deposits and negotiable CDs	2.38		2.22		1.98		1.81		1.47
Total interest-bearing deposits	0.94		0.84		0.73		0.59		0.43
Short-term borrowings	2.41		2.49		1.98		1.82		1.47
Long-term debt	3.98		3.82		3.78		3.75		2.92
Total interest-bearing liabilities	1.35		1.23		1.13		1.05		0.82
Net interest rate spread	3.08		3.11		3.03		3.02		3.09
Impact of noninterest-bearing funds on margin	0.31		0.30		0.29		0.27		0.21
Net interest margin	3.39	%	3.41	%	3.32	%	3.29	%	3.30	%

Commercial Loan Derivative Impact
(Unaudited)
	Average Rates
	2019		2018		2018		2018		2018
Fully-taxable equivalent basis(1)	First		Fourth		Third		Second		First
Commercial loans(3)(4)	4.95	%	4.86	%	4.66	%	4.55	%	4.29	%
Impact of commercial loan derivatives	(0.01	)	—		—		—		—
Total commercial - as reported	4.94	%	4.86	%	4.66	%	4.55	%	4.29	%
Average 30 day LIBOR	2.50	%	2.35	%	2.11	%	1.97	%	1.65	%

(1) Fully-taxable equivalent (FTE) yields are calculated assuming a 21% tax rate. See page 9 for the FTE adjustment.

(2) Deposits in Federal Reserve Bank were treated as non-earning assets prior to 4Q 2018.

(3) Yield/rates include the effects of hedge and risk management activities associated with the respective asset and liability categories.

(4) Includes nonaccrual loans.

8

Huntington Bancshares Incorporated

Selected Quarterly Income Statement Data

(Unaudited)

	Three Months Ended
(dollar amounts in millions, except per data, share count in thousands)	March 31,		December 31,			September 30,			June 30,		March 31,
	2019		2018			2018			2018		2018
Interest income	$	1,070	$	1,056		$	1,007		$	972	$	914
Interest expense	248		223			205			188		144
Net interest income	822		833			802			784		770
Provision for credit losses	67		60			53			56		66
Net interest income after provision for credit losses	755		773			749			728		704
Service charges on deposit accounts	87		94			93			91		86
Card and payment processing income	56		58			57			56		53
Trust and investment management services	44		42			43			42		44
Mortgage banking income	21		23			31			28		26
Capital markets fees	22		34			26			26		21
Insurance income	21		21			19			21		21
Bank owned life insurance income	16		16			19			17		15
Gain on sale of loans and leases	13		16			16			15		8
Securities gains (losses)	—		(19		)	(2		)	—		—
Other income	39		44			40			40		40
Total noninterest income	319		329			342			336		314
Personnel costs	394		399			388			396		376
Outside data processing and other services	81		83			69			69		73
Net occupancy	42		70			38			35		41
Equipment	40		48			38			38		40
Deposit and other insurance expense	8		9			18			18		18
Professional services	12		17			17			15		11
Marketing	7		15			12			18		8
Amortization of intangibles	13		13			13			13		14
Other expense	56		57			58			50		52
Total noninterest expense	653		711			651			652		633
Income before income taxes	421		391			440			412		385
Provision for income taxes	63		57			62			57		59
Net income	358		334			378			355		326
Dividends on preferred shares	19		19			18			21		12
Net income applicable to common shares	$	339	$	315		$	360		$	334	$	314
Average common shares - basic	1,046,995		1,054,460			1,084,536			1,103,337		1,083,836
Average common shares - diluted	1,065,638		1,073,055			1,103,740			1,122,612		1,124,778
Per common share
Net income - basic	$	0.32	$	0.30		$	0.33		$	0.30	$	0.29
Net income - diluted	0.32		0.29			0.33			0.30		0.28
Cash dividends declared	0.14		0.14			0.14			0.11		0.11
Revenue - fully-taxable equivalent (FTE)
Net interest income	$	822	$	833		$	802		$	784	$	770
FTE adjustment	7		8			8			7		7
Net interest income(1)	829		841			810			791		777
Noninterest income	319		329			342			336		314
Total revenue(1)	$	1,148	$	1,170		$	1,152		$	1,127	$	1,091

(1) On a fully-taxable equivalent (FTE) basis assuming a 21% tax rate.

9

Huntington Bancshares Incorporated

Quarterly Mortgage Banking Noninterest Income

(Unaudited)

	Three Months Ended
	March 31,			December 31,			September 30,			June 30,			March 31,			Percent Changes vs.
(dollar amounts in millions)	2019			2018			2018			2018			2018			4Q18		1Q18
Net origination and secondary marketing income	$	17		$	16		$	24		$	21		$	18		6	%	(6	)%
Net mortgage servicing income
Loan servicing income	14			14			14			14			14			—		—
Amortization of capitalized servicing	(9		)	(8		)	(9		)	(8		)	(8		)	(13	)	(13	)
Operating income	5			6			5			6			6			(17	)	(17	)
MSR valuation adjustment (1)	(10		)	—			—			—			7			(100	)	(243	)
Gains (losses) due to MSR hedging	7			(1		)	—			—			(7		)	800		200
Net MSR risk management	(3		)	(1		)	—			—			—			(200	)	(100	)
Total net mortgage servicing income	$	2		$	5		$	5		$	6		$	6		(60	)%	(67	)%
All other	2			2			2			1			2			—		—
Mortgage banking income	$	21		$	23		$	31		$	28		$	26		(9	)%	(19	)%
Mortgage origination volume	$	1,235		$	1,538		$	1,818		$	2,127		$	1,513		(20	)%	(18	)%
Mortgage origination volume for sale	756			948			1,112			1,131			870			(20	)	(13	)
Third party mortgage loans serviced (2)	21,346			21,068			20,617			20,416			20,225			1		6
Mortgage servicing rights (2)	212			221			219			215			212			(4	)	—
MSR % of investor servicing portfolio (2)	0.99		%	1.05		%	1.06		%	1.05		%	1.05		%	(6	)%	(6	)%

(1) The change in fair value for the period represents the MSR valuation adjustment, net of amortization of capitalized servicing.

(2) At period end.

10

Huntington Bancshares Incorporated

Quarterly Credit Reserves Analysis

(Unaudited)

	Three Months Ended
	March 31,			December 31,			September 30,			June 30,			March 31,
(dollar amounts in millions)	2019			2018			2018			2018			2018
Allowance for loan and lease losses, beginning of period	$	772		$	761		$	741		$	721		$	691
Loan and lease losses	(97		)	(84		)	(58		)	(53		)	(73		)
Recoveries of loans previously charged off	26			34			29			25			35
Net loan and lease losses	(71		)	(50		)	(29		)	(28		)	(38		)
Provision for loan and lease losses	63			61			49			48			68
Allowance for loan and lease losses, end of period	764			772			761			741			721
Allowance for unfunded loan commitments and letters of credit, beginning of period	96			97			93			85			87
Provision for (reduction in) unfunded loan commitments and letters of credit losses	4			(1		)	4			8			(2		)
Allowance for unfunded loan commitments and letters of credit, end of period	100			96			97			93			85
Total allowance for credit losses, end of period	$	864		$	868		$	858		$	834		$	806
Allowance for loan and lease losses (ALLL) as % of:
Total loans and leases	1.02		%	1.03		%	1.04		%	1.02		%	1.01		%
Nonaccrual loans and leases (NALs)	183			228			206			197			188
Nonperforming assets (NPAs)	166			200			189			180			172

11

Huntington Bancshares Incorporated

Quarterly Net Charge-Off Analysis

(Unaudited)

	Three Months Ended
	March 31,			December 31,			September 30,			June 30,			March 31,
(dollar amounts in millions)	2019			2018			2018			2018			2018
Net charge-offs by loan and lease type:
Commercial:
Commercial and industrial	$	31		$	13		$	(1	)	$	3		$	17
Commercial real estate:
Construction	—			—			—			—			(1		)
Commercial	2			—			(3		)	(1		)	(13		)
Commercial real estate	2			—			(3		)	(1		)	(14		)
Total commercial	33			13			(4		)	2			3
Consumer:
Automobile	10			9			8			7			10
Home equity	3			2			1			—			3
Residential mortgage	3			2			2			1			1
RV and marine	3			2			2			2			3
Other consumer	19			22			20			16			18
Total consumer	38			37			33			26			35
Total net charge-offs	$	71		$	50		$	29		$	28		$	38
	Three Months Ended
	March 31,			December 31,			September 30,			June 30,			March 31,
	2019			2018			2018			2018			2018
Net charge-offs - annualized percentages:
Commercial:
Commercial and industrial	0.41		%	0.17		%	(0.01		)%	0.04		%	0.24		%
Commercial real estate:
Construction	(0.11		)	(0.09		)	(0.01		)	(0.22		)	(0.18		)
Commercial	0.12			—			(0.18		)	(0.06		)	(0.80		)
Commercial real estate	0.08			(0.01		)	(0.15		)	(0.08		)	(0.70		)
Total commercial	0.35			0.14			(0.04		)	0.02			0.04
Consumer:
Automobile	0.32			0.30			0.26			0.22			0.32
Home equity	0.12			0.05			0.06			0.01			0.11
Residential mortgage	0.10			0.10			0.07			0.04			0.04
RV and marine	0.39			0.31			0.25			0.34			0.42
Other consumer	6.29			6.66			6.32			5.60			6.51
Total consumer	0.41			0.40			0.36			0.30			0.39
Net charge-offs as a % of average loans	0.38		%	0.27		%	0.16		%	0.16		%	0.21		%

12

Huntington Bancshares Incorporated

Quarterly Nonaccrual Loans and Leases (NALs) and Nonperforming Assets (NPAs)

(Unaudited)

	March 31,			December 31,			September 30,			June 30,			March 31,
(dollar amounts in millions)	2019			2018			2018			2018			2018
Nonaccrual loans and leases (NALs):
Commercial and industrial	$	271		$	188		$	211		$	207		$	190
Commercial real estate	9			15			19			25			30
Automobile	4			5			5			4			5
Residential mortgage	68			69			67			73			82
RV and marine	1			1			1			1			1
Home equity	64			62			67			68			75
Other consumer	—			—			—			—			—
Total nonaccrual loans and leases	417			340			370			378			383
Other real estate, net:
Residential	14			19			22			23			23
Commercial	4			4			5			5			7
Total other real estate, net	18			23			27			28			30
Other NPAs (1)	26			24			6			6			7
Total nonperforming assets	$	461		$	387		$	403		$	412		$	420
Nonaccrual loans and leases as a % of total loans and leases	0.56		%	0.45		%	0.50		%	0.52		%	0.54		%
NPA ratio (2)	0.61			0.52			0.55			0.57			0.59
(NPA+90days)/(Loan+OREO) (3)	0.81			0.74			0.76			0.75			0.74

	Three Months Ended
	March 31,			December 31,			September 30,			June 30,			March 31,
(dollar amounts in millions)	2019			2018			2018			2018			2018
Nonperforming assets, beginning of period	$	387		$	403		$	412		$	420		$	389
New nonperforming assets	218			109			114			96			158
Returns to accruing status	(33		)	(21		)	(24		)	(25		)	(23		)
Loan and lease losses	(46		)	(32		)	(29		)	(21		)	(32		)
Payments	(33		)	(66		)	(62		)	(53		)	(64		)
Sales	(32		)	(6		)	(8		)	(5		)	(8		)
Nonperforming assets, end of period	$	461		$	387		$	403		$	412		$	420

(1) Other nonperforming assets include certain impaired investment 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.

13

Huntington Bancshares Incorporated

Quarterly Accruing Past Due Loans and Leases and Accruing and Nonaccruing Troubled Debt Restructured Loans

(Unaudited)

	March 31,			December 31,			September 30,			June 30,			March 31,
(dollar amounts in millions)	2019			2018			2018			2018			2018
Accruing loans and leases past due 90 days or more:
Commercial and industrial	$	3		$	7		$	9		$	9		$	9
Commercial real estate	—			—			—			—			1
Automobile	6			8			7			6			6
Residential mortgage (excluding loans guaranteed by the U.S. Government)	25			32			28			18			19
RV and marine	2			1			1			1			2
Home equity	15			17			15			16			15
Other consumer	5			6			6			4			4
Total, excl. loans guaranteed by the U.S. Government	56			71			66			54			56
Add: loans guaranteed by U.S. Government	91			99			88			78			50
Total accruing loans and leases past due 90 days or more, including loans guaranteed by the U.S. Government	$	147		$	170		$	154		$	132		$	106
Ratios:
Excluding loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.07		%	0.09		%	0.09		%	0.07		%	0.08		%
Guaranteed by U.S. Government, as a percent of total loans and leases	0.12			0.13			0.12			0.11			0.07
Including loans guaranteed by the U.S. Government, as a percent of total loans and leases	0.20			0.23			0.21			0.18			0.15
Accruing troubled debt restructured loans:
Commercial and industrial	$	270		$	269		$	308		$	314		$	316
Commercial real estate	60			54			60			65			76
Automobile	37			35			34			32			32
Home equity	247			252			257			258			261
Residential mortgage	219			218			219			221			224
RV and marine	2			2			2			1			1
Other consumer	9			9			10			9			6
Total accruing troubled debt restructured loans	$	844		$	839		$	890		$	900		$	916
Nonaccruing troubled debt restructured loans:
Commercial and industrial	$	86		$	97		$	100		$	87		$	83
Commercial real estate	6			6			8			14			16
Automobile	3			3			3			3			3
Home equity	28			28			28			28			31
Residential mortgage	43			44			46			46			52
RV and marine	1			—			1			1			—
Other consumer	—			—			—			—			—
Total nonaccruing troubled debt restructured loans	$	167		$	178		$	186		$	179		$	185

14

Huntington Bancshares Incorporated

Quarterly Capital Under Current Regulatory Standards (Basel III) and Other Capital Data

(Unaudited)

	March 31,			December 31,			September 30,			June 30,			March 31,
(dollar amounts in millions)	2019			2018			2018			2018			2018
Common equity tier 1 risk-based capital ratio:(1)
Total shareholders’ equity	$	11,432		$	11,102		$	10,934		$	11,472		$	11,308
Regulatory capital adjustments:
Shareholders’ preferred equity	(1,207		)	(1,207		)	(1,207		)	(1,207		)	(1,207		)
Accumulated other comprehensive income offset	455			609			790			729			676
Goodwill and other intangibles, net of related taxes	(2,187		)	(2,200		)	(2,226		)	(2,229		)	(2,244		)
Deferred tax assets that arise from tax loss and credit carryforwards	(31		)	(33		)	(28		)	(28		)	(29		)
Common equity tier 1 capital	8,462			8,271			8,263			8,737			8,504
Additional tier 1 capital
Shareholders’ preferred equity	1,207			1,207			1,207			1,207			1,207
Other	1			—			—			—			1
Tier 1 capital	9,670			9,478			9,470			9,944			9,712
Long-term debt and other tier 2 qualifying instruments	736			776			839			809			804
Qualifying allowance for loan and lease losses	864			868			858			834			806
Tier 2 capital	1,600			1,644			1,697			1,643			1,610
Total risk-based capital	$	11,270		$	11,122		$	11,167		$	11,587		$	11,322
Risk-weighted assets (RWA)(1)	$	85,966		$	85,687		$	83,580		$	82,951		$	81,365
Common equity tier 1 risk-based capital ratio(1)	9.84		%	9.65		%	9.89		%	10.53		%	10.45		%
Other regulatory capital data:
Tier 1 leverage ratio(1)	9.16			9.10			9.14			9.65			9.53
Tier 1 risk-based capital ratio(1)	11.25			11.06			11.33			11.99			11.94
Total risk-based capital ratio(1)	13.11			12.98			13.36			13.97			13.92
Non-regulatory capital data:
Tangible common equity / RWA ratio(1)	9.34			8.97			8.97			9.67			9.65

(1) March 31, 2019, figures are estimated.

15

Huntington Bancshares Incorporated

Quarterly Common Stock Summary, Non-Regulatory Capital, and Other Data

(Unaudited)

Quarterly common stock summary

	March 31,		December 31,		September 30,		June 30,		March 31,
	2019		2018		2018		2018		2018
Dividends, per share
Cash dividends declared per common share	$	0.14	$	0.14	$	0.14	$	0.11	$	0.11
Common shares outstanding (000)
Average - basic	1,046,995		1,054,460		1,084,536		1,103,337		1,083,836
Average - diluted	1,065,638		1,073,055		1,103,740		1,122,612		1,124,778
Ending	1,046,440		1,046,767		1,061,529		1,104,227		1,101,796
Tangible book value per common share(1)	$	7.67	$	7.34	$	7.06	$	7.27	$	7.12
Common share repurchases (000)
Number of shares repurchased	1,833		14,967		43,670		—		3,007

Non-regulatory capital

	March 31,			December 31,			September 30,			June 30,			March 31,
(dollar amounts in millions)	2019			2018			2018			2018			2018
Calculation of tangible equity / asset ratio:
Total shareholders’ equity	$	11,432		$	11,102		$	10,934		$	11,472		$	11,308
Less: goodwill	(1,990		)	(1,989		)	(1,993		)	(1,993		)	(1,993		)
Less: other intangible assets	(269		)	(281		)	(306		)	(319		)	(333		)
Add: related deferred tax liability(1)	56			59			64			67			70
Total tangible equity	9,229			8,891			8,699			9,227			9,052
Less: preferred equity	(1,203		)	(1,203		)	(1,203		)	(1,203		)	(1,203		)
Total tangible common equity	$	8,026		$	7,688		$	7,496		$	8,024		$	7,849
Total assets	$	108,203		$	108,781		$	105,652		$	105,358		$	104,246
Less: goodwill	(1,990		)	(1,989		)	(1,993		)	(1,993		)	(1,993		)
Less: other intangible assets	(269		)	(281		)	(306		)	(319		)	(333		)
Add: related deferred tax liability(1)	56			59			64			67			70
Total tangible assets	$	106,000		$	106,570		$	103,417		$	103,113		$	101,990
Tangible equity / tangible asset ratio	8.71		%	8.34		%	8.41		%	8.95		%	8.88		%
Tangible common equity / tangible asset ratio	7.57			7.21			7.25			7.78			7.70
Other data:
Number of employees (Average full-time equivalent)	15,738			15,657			15,772			15,732			15,599
Number of domestic full-service branches(2)	898			954			970			968			966
ATM Count	1,727			1,774			1,860			1,831			1,866

(1) Other intangible assets are net of deferred tax liability, calculated at a 21% tax rate.

(2) Includes Regional Banking and The Huntington Private Client Group offices.

16