EX-99.2 3 hban20201231_8kex992.htm EX-99.2 Document

Exhibit 99.2
HUNTINGTON BANCSHARES INCORPORATED
Quarterly Financial Supplement
December 31, 2020
Table of Contents
Quarterly Accruing Past Due Loans and Leases and Accruing and Nonaccruing Troubled Debt Restructured Loans



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 share data)December 31,September 30,December 31,
Percent Changes vs.
2020202020193Q204Q19
Net interest income (2)
$830 $822 $786 %%
FTE adjustment
(5)(5)(6)— 17 
Net interest income
825 817 780 
Provision for credit losses
103 177 79 (42)30 
Noninterest income
409 430 372 (5)10 
Noninterest expense
756 712 701 
Income before income taxes
375 358 372 
Provision for income taxes
59 55 55 
Net income
316 303 317 — 
Dividends on preferred shares
35 28 19 25 84 
Net income applicable to common shares
$281 $275 $298 %(6)%
Net income per common share - diluted
$0.27 $0.27 $0.28 — %(4)%
Cash dividends declared per common share
0.15 0.15 0.15 — — 
Tangible book value per common share at end of period
8.51 8.43 8.25 
Number of common shares repurchased
415 — 13,104 100 (97)
Average common shares - basic
1,017 1,017 1,029 — (1)
Average common shares - diluted
1,036 1,031 1,047 — (1)
Ending common shares outstanding
1,017 1,017 1,020 — — 
Return on average assets
1.04 %1.01 %1.15 %
Return on average common shareholders’ equity
10.4 10.2 11.1 
Return on average tangible common shareholders’ equity (1)
13.3 13.2 14.3 
Net interest margin (2)
2.94 2.96 3.12 
Efficiency ratio (3)
60.2 56.1 58.4 
Effective tax rate
15.8 15.2 14.8 
Average total assets
$120,995 $119,529 $108,713 11 
Average earning assets
112,222 110,665 100,062 12 
Average loans and leases
81,116 80,542 75,103 
Average loans and leases - linked quarter annualized growth rate
2.9 %1.7 %— %
Average total deposits
$96,564 $95,049 $82,592 17 
Average core deposits (4)
92,325 90,692 79,690 16 
Average core deposits - linked quarter annualized growth rate
7.2 %8.2 %1.8 %
Average shareholders’ equity
12,941 12,678 11,884 
Average common total shareholders' equity
10,749 10,701 10,681 — 
Average tangible common shareholders' equity
8,605 8,549 8,503 
Total assets at end of period
123,038 120,116 109,002 13 
Total shareholders’ equity at end of period
12,993 12,917 11,795 10 
NCOs as a % of average loans and leases
0.55 %0.56 %0.39 %
NAL ratio
0.65 0.70 0.62 
NPA ratio (5)
0.69 0.74 0.66 
Allowance for loan and lease losses (ALLL) as a % of total loans and leases at the end of period
2.22 2.21 1.04 
Common equity tier 1 risk-based capital ratio (6)
10.00 9.89 9.88 
Tangible common equity / tangible asset ratio (7)
7.16 7.27 7.88 
See Notes to the Quarterly Key Statistics.
1


Huntington Bancshares Incorporated
Annual Key Statistics
(Unaudited)
Year Ended December 31,
Change
(dollar amounts in millions, except per share data)20202019
Amount
Percent
Net interest income (2)
$3,245 $3,239 $— %
FTE adjustment
(21)(26)19 
Net interest income
3,224 3,213 11 — 
Provision for credit losses
1,048 287 761 265 
Noninterest income
1,591 1,454 137 
Noninterest expense
2,795 2,721 74 
Income before income taxes
972 1,659 (687)(41)
Provision for income taxes
155 248 (93)(38)
Net Income
817 1,411 (594)(42)
Dividends on preferred shares
100 74 26 35 
Net income applicable to common shares
$717 $1,337 $(620)(46)%
Net income per common share - diluted
$0.69 $1.27 $(0.58)(46)%
Cash dividends declared per common share
0.60 0.58 0.02 
Average common shares - basic
1,017 1,039 (22)(2)
Average common shares - diluted
1,033 1,056 (23)(2)
Return on average assets
0.70 %1.31 %
Return on average common shareholders’ equity
6.8 12.9 
Return on average tangible common shareholders’ equity (1)
8.9 16.9 
Net interest margin (2)
2.99 3.26 
Efficiency ratio (3)
56.9 56.6 
Effective tax rate
15.9 15.0 
Average total assets
$117,232 $107,971 $9,261 
Average earning assets
108,443 99,541 8,902 
Average loans and leases
79,395 74,978 4,417 
Average total deposits
91,913 82,332 9,581 12 
Average core deposits (4)
87,876 79,197 8,679 11 
Average shareholders’ equity
12,303 11,560 743 
Average common total shareholders' equity
10,619 10,357 262 
Average tangible common shareholders' equity
8,462 8,164 298 
NCOs as a % of average loans and leases
0.57 %0.35 %
NAL ratio
0.65 0.62 
NPA ratio (5)
0.69 0.66 
See Notes to the Annual and Quarterly Key Statistics.

2


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 nonperforming assets, which includes certain impaired securities and/or nonaccrual loans held for sale, and other real estate owned.
(6)December 31, 2020, 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.


3


Huntington Bancshares Incorporated
Consolidated Balance Sheets
December 31,December 31,
(dollar amounts in millions)20202019
Percent Changes
(Unaudited)
Assets
Cash and due from banks
$1,319 $1,045 26 %
Interest-bearing deposits in Federal Reserve Bank
5,276 125 4,121 
Interest-bearing deposits in banks
117 102 15 
Trading account securities
62 99 (37)
Available-for-sale securities
16,485 14,149 17 
Held-to-maturity securities
8,861 9,070 (2)
Other securities
418 441 (5)
Loans held for sale
1,275 877 45 
Loans and leases (1)
81,608 75,404 
Allowance for loan and lease losses
(1,814)(783)(132)
Net loans and leases
79,794 74,621 
Bank owned life insurance
2,577 2,542 
Premises and equipment
757 763 (1)
Goodwill
1,990 1,990 — 
Service rights and other intangible assets
428 475 (10)
Other assets
3,679 2,703 36 
Total assets
$123,038 $109,002 13 %
Liabilities and shareholders’ equity
Liabilities
Deposits (2)
$98,948 $82,347 20 %
Short-term borrowings
183 2,606 (93)
Long-term debt
8,352 9,849 (15)
Other liabilities
2,562 2,405 
Total liabilities
110,045 97,207 13 
Shareholders' equity
Preferred stock
2,191 1,203 82 
Common stock
10 10 — 
Capital surplus
8,781 8,806 — 
Less treasury shares, at cost
(59)(56)(5)
Accumulated other comprehensive gain (loss)
192 (256)175 
Retained earnings (deficit)
1,878 2,088 (10)
Total shareholders’ equity
12,993 11,795 10 
Total liabilities and shareholders’ equity
$123,038 $109,002 13 %
Common shares authorized (par value of $0.01)
1,500,000,000 1,500,000,000 
Common shares outstanding
1,017,196,776 1,020,003,482 
Treasury shares outstanding
5,062,054 4,537,605 
Preferred stock, authorized shares
6,617,808 6,617,808 
Preferred shares outstanding
750,500 740,500 
(1)See page 5 for detail of loans and leases.
(2)See page 6 for detail of deposits.
4


Huntington Bancshares Incorporated
Loans and Leases Composition
(Unaudited)
December 31,September 30,June 30,March 31,December 31,
(dollar amounts in millions)20202020202020202019
Ending Balances by Type:
Total loans
Commercial:
Commercial and industrial
$35,373 43 %$34,895 43 %$34,879 44 %$32,959 42 %$30,664 41 %
Commercial real estate:
Construction
1,035 1,154 1,200 1,180 1,123 
Commercial
6,164 6,055 5,979 5,793 5,551 
Commercial real estate
7,199 7,209 7,179 6,973 6,674 
Total commercial
42,572 52 42,104 51 42,058 52 39,932 51 37,338 49 
Consumer:
Automobile
12,778 16 12,925 17 12,678 16 12,907 17 12,797 17 
Home equity
8,894 11 8,904 11 8,866 11 9,010 11 9,093 12 
Residential mortgage
12,141 15 12,031 15 11,621 15 11,398 15 11,376 15 
RV and marine
4,190 4,146 3,843 3,643 3,563 
Other consumer
1,033 1,046 1,073 1,145 1,237 
Total consumer
39,036 48 39,052 49 38,081 48 38,103 49 38,066 51 
Total loans and leases
$81,608 100 %$81,156 100 %$80,139 100 %$78,035 100 %$75,404 100 %
December 31,September 30,June 30,March 31,December 31,
(dollar amounts in millions)20202020202020202019
Ending Balances by Business Segment:
Consumer and Business Banking$27,230 33 %$27,517 34 %$27,173 34 %$21,544 28 %$21,716 29 %
Commercial Banking27,374 34 26,847 33 26,916 34 29,421 38 27,050 36 
Vehicle Finance20,027 25 19,891 25 19,345 24 20,552 26 20,190 27 
RBHPCG6,809 6,682 6,576 6,457 6,366 
Treasury / Other168 — 219 — 129 — 61 — 82 — 
Total loans and leases$81,608 100 %$81,156 100 %$80,139 100 %$78,035 100 %$75,404 100 %
Average Balances by Business Segment:
Consumer and Business Banking$27,483 34 %$27,315 34 %$25,379 32 %$21,593 29 %$21,845 30 %
Commercial Banking26,727 33 26,809 34 28,173 35 27,238 36 26,993 36 
Vehicle Finance19,977 25 19,651 24 19,822 25 20,307 27 19,852 26 
RBHPCG6,751 6,630 6,498 6,415 6,314 
Treasury / Other178 — 137 — 327 — 143 — 99 — 
Total loans and leases
$81,116 100 %$80,542 100 %$80,199 100 %$75,696 100 %$75,103 100 %

5


Huntington Bancshares Incorporated
Deposits Composition
(Unaudited)
December 31,September 30,June 30,March 31,December 31,
(dollar amounts in millions)20202020202020202019
Ending Balances by Type:
Demand deposits - noninterest-bearing
$28,553 29 %$27,466 29 %$27,574 29 %$21,039 24 %$20,247 25 %
Demand deposits - interest-bearing
26,757 27 24,242 25 22,961 25 23,115 27 20,583 25 
Money market deposits26,248 27 26,230 28 25,312 27 25,068 29 24,726 30 
Savings and other domestic deposits
11,722 12 11,268 12 11,034 12 9,845 11 9,549 12 
Core certificates of deposit (1)
1,425 1,586 2,478 3,599 4,356 
Total core deposits
94,705 96 90,792 96 89,359 96 82,666 95 79,461 97 
Other domestic deposits of $250,000 or more
131 — 156 — 209 — 276 — 313 — 
Brokered deposits and negotiable CDs
4,112 4,206 4,123 3,888 2,573 
Total deposits
$98,948 100 %$95,154 100 %$93,691 100 %$86,830 100 %$82,347 100 %
Total core deposits:
Commercial
$44,698 47 %$43,018 47 %$41,630 47 %$38,064 46 %$34,957 44 %
Consumer
50,007 53 47,774 53 47,729 53 44,602 54 44,504 56 
Total core deposits
$94,705 100 %$90,792 100 %$89,359 100 %$82,666 100 %$79,461 100 %
Ending Balances by Business Segment:
Consumer and Business Banking$60,910 61 %$59,302 62 %$59,202 63 %$51,898 60 %$51,675 63 %
Commercial Banking24,766 25 23,599 25 22,041 24 23,530 27 20,762 25 
Vehicle Finance722 777 824 525 376 — 
RBHPCG7,635 6,623 6,834 6,265 6,370 
Treasury / Other (2)4,915 4,853 4,790 4,612 3,164 
Total deposits
$98,948 100 %$95,154 100 %$93,691 100 %$86,830 100 %$82,347 100 %
December 31,September 30,June 30,March 31,December 31,
(dollar amounts in millions)20202020202020202019
Average Balances by Business Segment:
Consumer and Business Banking$60,163 62 %$59,460 63 %$56,858 61 %$51,296 62 %$52,059 63 %
Commercial Banking24,051 25 23,285 24 24,414 26 21,525 26 20,974 25 
Vehicle Finance760 839 646 366 — 347 — 
RBHPCG6,850 6,605 6,565 6,100 6,113 
Treasury / Other (2)4,740 4,860 4,739 3,446 3,099 
Total deposits
$96,564 100 %$95,049 100 %$93,222 100 %$82,733 100 %$82,592 100 %
(1)Includes consumer certificates of deposit of $250,000 or more.
(2)Comprised primarily of national market deposits.
6


Huntington Bancshares Incorporated
Consolidated Quarterly Average Balance Sheets
(Unaudited)
Quarterly Average Balances (1)
December 31,September 30,June 30,March 31,December 31,Percent Changes vs.
(dollar amounts in millions)202020202020202020193Q204Q19
Assets
Interest-bearing deposits in Federal Reserve Bank $5,507 $5,857 $3,413 $680 $672 (6)%719 %
Interest-bearing deposits in banks
205 177 169 150 176 16 16 
Securities:
Trading account securities
53 49 39 95 109 (51)
Available-for-sale securities:
Taxable
12,048 10,670 11,179 11,671 11,221 13 
Tax-exempt
2,710 2,749 2,728 2,753 2,791 (1)(3)
Total available-for-sale securities
14,758 13,419 13,907 14,424 14,012 10 
Held-to-maturity securities - taxable
8,844 8,932 9,798 9,428 8,592 (1)
Other securities420 430 474 445 448 (2)(6)
Total securities
24,075 22,830 24,218 24,392 23,161 
Loans held for sale
1,319 1,259 1,039 865 950 39 
Loans and leases: (2)
Commercial:
Commercial and industrial
34,850 34,669 35,284 30,849 30,373 15 
Commercial real estate:
Construction
1,085 1,175 1,201 1,165 1,181 (8)(8)
Commercial
6,092 6,045 5,885 5,566 5,625 
Commercial real estate
7,177 7,220 7,086 6,731 6,806 (1)
Total commercial
42,027 41,889 42,370 37,580 37,179 — 13 
Consumer:
Automobile
12,857 12,889 12,681 12,924 12,607 — 
Home equity
8,919 8,878 8,897 9,026 9,192 — (3)
Residential mortgage
12,100 11,817 11,463 11,391 11,330 
RV and marine 4,181 4,020 3,706 3,590 3,564 17 
Other consumer
1,032 1,049 1,082 1,185 1,231 (2)(16)
Total consumer
39,089 38,653 37,829 38,116 37,924 
Total loans and leases
81,116 80,542 80,199 75,696 75,103 
Allowance for loan and lease losses
(1,804)(1,720)(1,557)(1,239)(787)(5)(129)
Net loans and leases
79,312 78,822 78,642 74,457 74,316 
Total earning assets
112,222 110,665 109,038 101,783 100,062 12 
Cash and due from banks
1,113 1,173 1,299 914 864 (5)29 
Intangible assets
2,185 2,195 2,206 2,217 2,228 — (2)
All other assets
7,279 7,216 7,205 6,472 6,346 15 
Total assets
$120,995 $119,529 $118,191 $110,147 $108,713 %11 %
Liabilities and shareholders’ equity
Interest-bearing deposits:
Demand deposits - interest-bearing
$25,094 $23,865 $23,878 $21,202 $20,140 %25 %
Money market deposits
26,144 26,200 25,728 24,697 24,560 — 
Savings and other domestic deposits
11,468 11,157 10,609 9,632 9,552 20 
Core certificates of deposit (3)
1,479 2,035 3,003 3,943 4,795 (27)(69)
Other domestic deposits of $250,000 or more
139 175 230 321 313 (21)(56)
Brokered deposits and negotiable CDs
4,100 4,182 4,114 2,884 2,589 (2)58 
Total interest-bearing deposits
68,424 67,614 67,562 62,679 61,949 10 
Short-term borrowings
239 162 826 3,383 1,965 48 (88)
Long-term debt
8,799 9,318 9,802 10,076 9,886 (6)(11)
Total interest-bearing liabilities
77,462 77,094 78,190 76,138 73,800 — 
Demand deposits - noninterest-bearing
28,140 27,435 25,660 20,054 20,643 36 
All other liabilities
2,452 2,322 2,396 2,319 2,386 
Shareholders’ equity
12,941 12,678 11,945 11,636 11,884 
Total liabilities and shareholders’ equity
$120,995 $119,529 $118,191 $110,147 $108,713 %11 %
(1)Amounts include the effects of hedge and risk management activities associated with the respective asset and liability categories.
(2)Includes nonaccrual loans.
(3)Includes consumer certificates of deposit of $250,000 or more.
7


Huntington Bancshares Incorporated
Consolidated Quarterly Net Interest Margin - Interest Income / Expense (1)(2)
(Unaudited)
Quarterly Interest Income / Expense
December 31,September 30,June 30,March 31,December 31,
(dollar amounts in millions)20202020202020202019
Assets
Interest-bearing deposits in Federal Reserve Bank $$$$$
Interest-bearing deposits in banks
— — — 
Securities:
Trading account securities
— — 
Available-for-sale securities:
Taxable
46 50 65 76 73 
Tax-exempt
17 18 19 23 24 
Total available-for-sale securities
63 68 84 99 97 
Held-to-maturity securities - taxable
47 52 58 59 54 
Other securities
Total securities
113 121 143 161 155 
Loans held for sale
Loans and leases:
Commercial:
Commercial and industrial
324 325 323 318 335 
Commercial real estate:
Construction
10 11 14 15 
Commercial
41 41 43 56 63 
Commercial real estate
50 51 54 70 78 
Total commercial
374 376 377 388 413 
Consumer:
Automobile
125 128 121 130 131 
Home equity
85 84 82 107 117 
Residential mortgage
99 101 101 105 105 
RV and marine
47 47 43 44 45 
Other consumer
29 30 30 36 39 
Total consumer
385 390 377 422 437 
Total loans and leases
759 766 754 810 850 
Total earning assets
$883 $897 $907 $981 $1,017 
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing
$$$$23 $32 
Money market deposits18 25 50 61 
Savings and other domestic deposits
Core certificates of deposit (3)
11 19 25 
Other domestic deposits of $250,000 or more
— 
Brokered deposits and negotiable CDs
10 
Total interest-bearing deposits
15 31 47 105 136 
Short-term borrowings
— — 12 
Long-term debt
38 44 62 68 87 
Total interest bearing liabilities
53 75 110 185 231 
Net interest income
$830 $822 $797 $796 $786 
(1)Fully-taxable equivalent (FTE) income and expense calculated assuming a 21% tax rate. See page 10 for the FTE adjustment.
(2)Amounts include the effects of hedge and risk management activities associated with the respective asset and liability categories.
(3)Includes consumer certificates of deposit of $250,000 or more.


8


Huntington Bancshares Incorporated
Consolidated Quarterly Net Interest Margin - Yield
(Unaudited)
 Quarterly Average Rates
December 31,September 30,June 30,March 31,December 31,
Fully-taxable equivalent basis (1)
20202020202020202019
Assets
Interest-bearing deposits in Federal Reserve Bank0.10 %0.10 %0.10 %1.08 %1.66 %
Interest-bearing deposits in banks
0.12 0.13 0.33 1.52 1.81 
Securities:
Trading account securities
3.65 3.18 1.99 3.21 2.45 
Available-for-sale securities:
Taxable
1.53 1.89 2.30 2.62 2.63 
Tax-exempt
2.59 2.71 2.75 3.30 3.43 
Total available-for-sale securities
1.72 2.06 2.39 2.75 2.79 
Held-to-maturity securities - taxable
2.11 2.28 2.39 2.50 2.50 
Other securities1.85 1.23 0.57 2.07 2.57 
Total securities
1.87 2.13 2.35 2.64 2.68 
Loans held for sale
2.96 2.82 3.22 3.39 3.40 
Loans and leases: (3)
Commercial:
Commercial and industrial
3.64 3.67 3.62 4.12 4.31 
Commercial real estate:
Construction
3.36 3.40 3.66 4.75 5.07 
Commercial
2.62 2.63 2.94 4.00 4.36 
Commercial real estate
2.73 2.75 3.06 4.13 4.48 
Total commercial
3.48 3.52 3.53 4.12 4.34 
Consumer:
Automobile
3.88 3.93 3.84 4.05 4.15 
Home equity
3.76 3.79 3.73 4.75 5.03 
Residential mortgage
3.27 3.41 3.51 3.70 3.73 
RV and marine 4.53 4.60 4.71 4.91 4.96 
Other consumer
11.12 11.23 11.10 12.39 12.71 
Total consumer
3.93 4.00 4.00 4.45 4.59 
Total loans and leases
3.70 3.75 3.75 4.29 4.47 
Total earning assets
3.13 3.22 3.35 3.88 4.03 
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing
0.04 0.05 0.07 0.43 0.63 
Money market deposits0.10 0.28 0.40 0.81 0.99 
Savings and other domestic deposits
0.05 0.06 0.10 0.17 0.20 
Core certificates of deposit (4)
0.56 1.03 1.55 1.91 2.09 
Other domestic deposits of $250,000 or more
0.51 0.92 1.25 1.56 1.70 
Brokered deposits and negotiable CDs
0.19 0.19 0.18 1.22 1.67 
Total interest-bearing deposits
0.08 0.18 0.28 0.68 0.87 
Short-term borrowings
0.26 0.30 0.47 1.46 1.66 
Long-term debt
1.72 1.87 2.58 2.70 3.50 
Total interest-bearing liabilities
0.27 0.39 0.57 0.98 1.24 
Net interest rate spread
2.86 2.83 2.78 2.90 2.79 
Impact of noninterest-bearing funds on margin
0.08 0.13 0.16 0.24 0.33 
Net interest margin
2.94 %2.96 %2.94 %3.14 %3.12 %
Commercial Loan Derivative Impact
(Unaudited)
Average Rates
20202020202020202019
Fully-taxable equivalent basis (1)
FourthThirdSecondFirstFourth
Commercial loans (2)(3)
2.92 %3.01 %3.17 %4.08 %4.36 %
Impact of commercial loan derivatives
0.56 0.51 0.36 0.04 (0.02)
Total commercial - as reported
3.48 %3.52 %3.53 %4.12 %4.34 %
Average 1 Month LIBOR
0.15 %0.16 %0.36 %1.41 %1.79 %
(1)Fully-taxable equivalent (FTE) yields are calculated assuming a 21% tax rate. See page 10 for the FTE adjustment.
(2)Yield/rates exclude the effects of hedge and risk management activities associated with the respective asset and liability categories.
(3)Includes nonaccrual loans.
(4)Includes consumer certificates of deposit of $250,000 or more.
9


Huntington Bancshares Incorporated
Selected Quarterly Income Statement Data
(Unaudited)
Three Months Ended
(dollar amounts in millions, except per share data)December 31,September 30,June 30,March 31,December 31,
20202020202020202019
Interest income
$878 $892 $902 $975 $1,011 
Interest expense
53 75 110 185 231 
Net interest income
825 817 792 790 780 
Provision for credit losses
103 177 327 441 79 
Net interest income after provision for credit losses
722 640 465 349 701 
Mortgage banking income90 122 96 58 58 
Service charges on deposit accounts 78 76 60 87 95 
Card and payment processing income65 66 59 58 64 
Trust and investment management services49 48 45 47 47 
Capital markets fees34 27 31 33 31 
Insurance income25 24 25 23 24 
Bank owned life insurance income14 17 17 16 17 
Gain on sale of loans13 13 16 
Net (losses) gains on sales of securities— — (1)— (22)
Other noninterest income41 37 51 31 42 
Total noninterest income
409 430 391 361 372 
Personnel costs426 453 418 395 426 
Outside data processing and other services111 98 90 85 89 
Equipment49 44 46 41 42 
Net occupancy39 40 39 40 41 
Professional services21 12 11 11 14 
Amortization of intangibles10 10 10 11 12 
Marketing15 
Deposit and other insurance expense10 
Other noninterest expense77 40 47 51 58 
Total noninterest expense
756 712 675 652 701 
Income before income taxes
375 358 181 58 372 
Provision for income taxes
59 55 31 10 55 
Net income
316 303 150 48 317 
Dividends on preferred shares
35 28 19 18 19 
Net income applicable to common shares
$281 $275 $131 $30 $298 
Average common shares - basic
1,017 1,017 1,016 1,018 1,029 
Average common shares - diluted
1,036 1,031 1,029 1,035 1,047 
Per common share
Net income - basic
$0.28 $0.27