EX-99.2 3 hban20210331_8kex992.htm EX-99.2 Document

Exhibit 99.2
HUNTINGTON BANCSHARES INCORPORATED
Quarterly Financial Supplement
March 31, 2021
Table of Contents



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%.
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)March 31,December 31,March 31,
Percent Changes vs.
2021202020204Q201Q20
Net interest income (2)
$978 $830 $796 18 %23 %
FTE adjustment
(6)(5)(6)(20)— 
Net interest income
972 825 790 18 23 
Provision for credit losses
(60)103 441 (158)(114)
Noninterest income
395 409 361 (3)
Noninterest expense
793 756 652 22 
Income before income taxes
634 375 58 69 993 
Provision for income taxes
102 59 10 73 920 
Net income
532 316 48 68 1,008 
Dividends on preferred shares
31 35 18 (11)72 
Net income applicable to common shares
$501 $281 $30 78 %1,570 %
Net income per common share - diluted
$0.48 $0.27 $0.03 78 %1,500 %
Cash dividends declared per common share
0.15 0.15 0.15 — — 
Tangible book value per common share at end of period
8.64 8.51 8.28 
Number of common shares repurchased
— 415 7,088 (100)(100)
Average common shares - basic
1,018 1,017 1,018 — — 
Average common shares - diluted
1,041 1,036 1,035 — 
Ending common shares outstanding
1,018 1,017 1,014 — — 
Return on average assets
1.76 %1.04 %0.17 %
Return on average common shareholders’ equity
18.7 10.4 1.1 
Return on average tangible common shareholders’ equity (1)
23.7 13.3 1.8 
Net interest margin (2)
3.48 2.94 3.14 
Efficiency ratio (3)
57.0 60.2 55.4 
Effective tax rate
16.1 15.8 17.0 
Average total assets
$122,995 $120,995 $110,147 12 
Average earning assets
114,105 112,222 101,783 12 
Average loans and leases
80,261 81,116 75,696 (1)
Average loans and leases - linked quarter annualized growth rate
(4.2)%2.9 %3.2 %
Average total deposits
$99,285 $96,564 $82,733 20 
Average core deposits (4)
95,815 92,325 79,528 20 
Average core deposits - linked quarter annualized growth rate
15.1 %7.2 %(0.8)%
Average shareholders’ equity
13,324 12,941 11,636 15 
Average common total shareholders' equity
10,858 10,749 10,433 
Average tangible common shareholders' equity
8,722 8,605 8,264 
Total assets at end of period
125,768 123,038 113,897 10 
Total shareholders’ equity at end of period
13,600 12,993 11,769 16 
NCOs as a % of average loans and leases
0.32 %0.55 %0.62 %
NAL ratio
0.64 0.65 0.72 
NPA ratio (5)
0.68 0.69 0.75 
Allowance for loan and lease losses (ALLL) as a % of total loans and leases at the end of period
2.12 2.22 1.93 
Common equity tier 1 risk-based capital ratio (6)
10.33 10.00 9.47 
Tangible common equity / tangible asset ratio (7)
7.11 7.16 7.52 
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 nonperforming assets, which includes certain impaired securities and/or nonaccrual loans held for sale, and other real estate owned.
(6)March 31, 2021, 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)20212020
Percent Changes
(Unaudited)
Assets
Cash and due from banks
$1,096 $1,319 (17)%
Interest-bearing deposits in Federal Reserve Bank
7,493 5,276 42 
Interest-bearing deposits in banks
52 117 (56)
Trading account securities
51 62 (18)
Available-for-sale securities
19,375 16,485 18 
Held-to-maturity securities
7,815 8,861 (12)
Other securities
411 418 (2)
Loans held for sale
1,537 1,275 21 
Loans and leases (1)
80,230 81,608 (2)
Allowance for loan and lease losses
(1,703)(1,814)
Net loans and leases
78,527 79,794 (2)
Bank owned life insurance
2,581 2,577 — 
Premises and equipment
747 757 (1)
Goodwill
1,990 1,990 — 
Service rights and other intangible assets
480 428 12 
Other assets
3,613 3,679 (2)
Total assets
$125,768 $123,038 %
Liabilities and shareholders’ equity
Liabilities
Deposits (2)
$102,184 $98,948 %
Short-term borrowings
219 183 20 
Long-term debt
7,210 8,352 (14)
Other liabilities
2,555 2,562 — 
Total liabilities
112,168 110,045 
Shareholders' equity
Preferred stock
2,676 2,191 22 
Common stock
10 10 — 
Capital surplus
8,806 8,781 — 
Less treasury shares, at cost
(59)(59)— 
Accumulated other comprehensive gain (loss)
(56)192 (129)
Retained earnings (deficit)
2,223 1,878 18 
Total shareholders’ equity
13,600 12,993 
Total liabilities and shareholders’ equity
$125,768 $123,038 %
Common shares authorized (par value of $0.01)
2,250,000,000 1,500,000,000 
Common shares outstanding
1,018,052,923 1,017,196,776 
Treasury shares outstanding
5,041,104 5,062,054 
Preferred stock, authorized shares
6,617,808 6,617,808 
Preferred shares outstanding
1,250,500 750,500 
(1)See page 5 for detail of loans and leases.
(2)See page 6 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)20212020202020202020
Ending Balances by Type:
Total loans
Commercial:
Commercial and industrial
$34,464 43 %$35,373 43 %$34,895 43 %$34,879 44 %$32,959 42 %
Commercial real estate:
Construction
1,083 1,035 1,154 1,200 1,180 
Commercial
6,096 6,164 6,055 5,979 5,793 
Commercial real estate
7,179 7,199 7,209 7,179 6,973 
Total commercial
41,643 52 42,572 52 42,104 51 42,058 52 39,932 51 
Consumer:
Automobile
12,591 16 12,778 16 12,925 17 12,678 16 12,907 17 
Home equity
8,727 11 8,894 11 8,904 11 8,866 11 9,010 11 
Residential mortgage
12,092 15 12,141 15 12,031 15 11,621 15 11,398 15 
RV and marine
4,218 4,190 4,146 3,843 3,643 
Other consumer
959 1,033 1,046 1,073 1,145 
Total consumer
38,587 48 39,036 48 39,052 49 38,081 48 38,103 49 
Total loans and leases
$80,230 100 %$81,608 100 %$81,156 100 %$80,139 100 %$78,035 100 %
March 31,December 31,September 30,June 30,March 31,
(dollar amounts in millions)20212020202020202020
Ending Balances by Business Segment:
Consumer and Business Banking$26,658 33 %$27,230 33 %$27,517 34 %$27,173 34 %$21,544 28 %
Commercial Banking27,318 34 27,374 34 26,847 33 26,916 34 29,421 38 
Vehicle Finance19,474 24 20,027 25 19,891 25 19,345 24 20,552 26 
RBHPCG6,587 6,809 6,682 6,576 6,457 
Treasury / Other193 168 — 219 — 129 — 61 — 
Total loans and leases$80,230 100 %$81,608 100 %$81,156 100 %$80,139 100 %$78,035 100 %
Average Balances by Business Segment:
Consumer and Business Banking$27,069 34 %$27,483 34 %$27,315 34 %$25,379 32 %$21,593 29 %
Commercial Banking26,694 33 26,727 33 26,809 34 28,173 35 27,238 36 
Vehicle Finance19,735 25 19,977 25 19,651 24 19,822 25 20,307 27 
RBHPCG6,568 6,751 6,630 6,498 6,415 
Treasury / Other195 — 178 — 137 — 327 — 143 — 
Total loans and leases
$80,261 100 %$81,116 100 %$80,542 100 %$80,199 100 %$75,696 100 %

4


Huntington Bancshares Incorporated
Deposits Composition
(Unaudited)
March 31,December 31,September 30,June 30,March 31,
(dollar amounts in millions)20212020202020202020
Ending Balances by Type:
Demand deposits - noninterest-bearing
$31,226 30 %$28,553 29 %$27,466 29 %$27,574 29 %$21,039 24 %
Demand deposits - interest-bearing
27,493 27 26,757 27 24,242 25 22,961 25 23,115 27 
Money market deposits26,268 26 26,248 27 26,230 28 25,312 27 25,068 29 
Savings and other domestic deposits
13,115 13 11,722 12 11,268 12 11,034 12 9,845 11 
Core certificates of deposit (1)
1,329 1,425 1,586 2,478 3,599 
Total core deposits
99,431 97 94,705 96 90,792 96 89,359 96 82,666 95 
Other domestic deposits of $250,000 or more
105 — 131 — 156 — 209 — 276 — 
Brokered deposits and negotiable CDs
2,648 4,112 4,206 4,123 3,888 
Total deposits
$102,184 100 %$98,948 100 %$95,154 100 %$93,691 100 %$86,830 100 %
Total core deposits:
Commercial
$46,539 47 %$44,698 47 %$43,018 47 %$41,630 47 %$38,064 46 %
Consumer
52,892 53 50,007 53 47,774 53 47,729 53 44,602 54 
Total core deposits
$99,431 100 %$94,705 100 %$90,792 100 %$89,359 100 %$82,666 100 %
March 31,December 31,September 30,June 30,March 31,
(dollar amounts in millions)20212020202020202020
Ending Balances by Business Segment:
Consumer and Business Banking$65,437 64 %$60,910 61 %$59,302 62 %$59,202 63 %$51,898 60 %
Commercial Banking25,420 25 24,766 25 23,599 25 22,041 24 23,530 27 
Vehicle Finance849 722 777 824 525 
RBHPCG7,163 7,635 6,623 6,834 6,265 
Treasury / Other (2)3,315 4,915 4,853 4,790 4,612 
Total deposits
$102,184 100 %$98,948 100 %$95,154 100 %$93,691 100 %$86,830 100 %
Average Balances by Business Segment:
Consumer and Business Banking$62,333 63 %$60,163 62 %$59,460 63 %$56,858 61 %$51,296 62 %
Commercial Banking25,100 25 24,051 25 23,285 24 24,414 26 21,525 26 
Vehicle Finance768 760 839 646 366 — 
RBHPCG7,059 6,850 6,605 6,565 6,100 
Treasury / Other (2)4,025 4,740 4,860 4,739 3,446 
Total deposits
$99,285 100 %$96,564 100 %$95,049 100 %$93,222 100 %$82,733 100 %
(1)Includes consumer certificates of deposit of $250,000 or more.
(2)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)202120202020202020204Q201Q20
Assets
Interest-bearing deposits in Federal Reserve Bank $6,065 $5,507 $5,857 $3,413 $680 10 %792 %
Interest-bearing deposits in banks
177 205 177 169 150 (14)18 
Securities:
Trading account securities
52 53 49 39 95 (2)(45)
Available-for-sale securities:
Taxable
14,827 12,048 10,670 11,179 11,671 23 27 
Tax-exempt
2,650 2,710 2,749 2,728 2,753 (2)(4)
Total available-for-sale securities
17,477 14,758 13,419 13,907 14,424 18 21 
Held-to-maturity securities - taxable
8,269 8,844 8,932 9,798 9,428 (7)(12)
Other securities412 420 430 474 445 (2)(7)
Total securities
26,210 24,075 22,830 24,218 24,392 
Loans held for sale
1,392 1,319 1,259 1,039 865 61 
Loans and leases: (2)
Commercial:
Commercial and industrial
34,352 34,850 34,669 35,284 30,849 (1)11 
Commercial real estate:
Construction
1,053 1,085 1,175 1,201 1,165 (3)(10)
Commercial
6,122 6,092 6,045 5,885 5,566 — 10 
Commercial real estate
7,175 7,177 7,220 7,086 6,731 — 
Total commercial
41,527 42,027 41,889 42,370 37,580 (1)11 
Consumer:
Automobile
12,665 12,857 12,889 12,681 12,924 (1)(2)
Home equity
8,809 8,919 8,878 8,897 9,026 (1)(2)
Residential mortgage
12,094 12,100 11,817 11,463 11,391 — 
RV and marine 4,193 4,181 4,020 3,706 3,590 — 17 
Other consumer
973 1,032 1,049 1,082 1,185 (6)(18)
Total consumer
38,734 39,089 38,653 37,829 38,116 (1)
Total loans and leases
80,261 81,116 80,542 80,199 75,696 (1)
Allowance for loan and lease losses
(1,809)(1,804)(1,720)(1,557)(1,239)— (46)
Net loans and leases
78,452 79,312 78,822 78,642 74,457 (1)
Total earning assets
114,105 112,222 110,665 109,038 101,783 12 
Cash and due from banks
1,080 1,113 1,173 1,299 914 (3)18 
Intangible assets
2,176 2,185 2,195 2,206 2,217 — (2)
All other assets
7,443 7,279 7,216 7,205 6,472 15 
Total assets
$122,995 $120,995 $119,529 $118,191 $110,147 %12 %
Liabilities and shareholders’ equity
Interest-bearing deposits:
Demand deposits - interest-bearing
$26,812 $25,094 $23,865 $23,878 $21,202 %26 %
Money market deposits
26,247 26,144 26,200 25,728 24,697 — 
Savings and other domestic deposits
12,277 11,468 11,157 10,609 9,632 27 
Core certificates of deposit (3)
1,384 1,479 2,035 3,003 3,943 (6)(65)
Other domestic deposits of $250,000 or more
115 139 175 230 321 (17)(64)
Brokered deposits and negotiable CDs
3,355 4,100 4,182 4,114 2,884 (18)16 
Total interest-bearing deposits
70,190 68,424 67,614 67,562 62,679 12 
Short-term borrowings
208 239 162 826 3,383 (13)(94)
Long-term debt
7,766 8,799 9,318 9,802 10,076 (12)(23)
Total interest-bearing liabilities
78,164 77,462 77,094 78,190 76,138 
Demand deposits - noninterest-bearing
29,095 28,140 27,435 25,660 20,054 45 
All other liabilities
2,412 2,452 2,322 2,396 2,319 (2)
Shareholders’ equity
13,324 12,941 12,678 11,945 11,636 15 
Total liabilities and shareholders’ equity
$122,995 $120,995 $119,529 $118,191 $110,147 %12 %
(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.
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)20212020202020202020
Assets
Interest-bearing deposits in Federal Reserve Bank $$$$$
Interest-bearing deposits in banks
— — — — 
Securities:
Trading account securities
— — — 
Available-for-sale securities:
Taxable
49 46 50 65 76 
Tax-exempt
17 17 18 19 23 
Total available-for-sale securities
66 63 68 84 99 
Held-to-maturity securities - taxable
42 47 52 58 59 
Other securities
Total securities
110 113 121 143 161 
Loans held for sale
Loans and leases:
Commercial:
Commercial and industrial
343 324 325 323 318 
Commercial real estate:
Construction
10 11 14 
Commercial
40 41 41 43 56 
Commercial real estate
49 50 51 54 70 
Total commercial
392 374 376 377 388 
Consumer:
Automobile
116 125 128 121 130 
Home equity
80 85 84 82 107 
Residential mortgage
95 99 101 101 105 
RV and marine
44 47 47 43 44 
Other consumer
27 29 30 30 36 
Total consumer
362 385 390 377 422 
Total loans and leases
754 759 766 754 810 
Total earning assets
$875 $883 $897 $907 $981 
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing
$$$$$23 
Money market deposits18 25 50 
Savings and other domestic deposits
Core certificates of deposit (3)
11 19 
Other domestic deposits of $250,000 or more
— — 
Brokered deposits and negotiable CDs
Total interest-bearing deposits
11 15 31 47 105 
Short-term borrowings
— — — 12 
Long-term debt
(114)38 44 62 68 
Total interest bearing liabilities
(103)53 75 110 185 
Net interest income
$978 $830 $822 $797 $796 
(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)Includes consumer certificates of deposit of $250,000 or more.


7


Huntington Bancshares Incorporated
Consolidated Quarterly Net Interest Margin - Yield
(Unaudited)
 Quarterly Average Rates
March 31,December 31,September 30,June 30,March 31,
Fully-taxable equivalent basis (1)
20212020202020202020
Assets
Interest-bearing deposits in Federal Reserve Bank0.10 %0.10 %0.10 %0.10 %1.08 %
Interest-bearing deposits in banks
0.08 0.12 0.13 0.33 1.52 
Securities:
Trading account securities
3.64 3.65 3.18 1.99 3.21 
Available-for-sale securities:
Taxable
1.32 1.53 1.89 2.30 2.62 
Tax-exempt
2.52 2.59 2.71 2.75 3.30 
Total available-for-sale securities
1.50 1.72 2.06 2.39 2.75 
Held-to-maturity securities - taxable
2.02 2.11 2.28 2.39 2.50 
Other securities1.66 1.85 1.23 0.57 2.07 
Total securities
1.67 1.87 2.13 2.35 2.64 
Loans held for sale
2.64 2.96 2.82 3.22 3.39 
Loans and leases: (3)
Commercial:
Commercial and industrial
3.99 3.64 3.67 3.62 4.12 
Commercial real estate:
Construction
3.41 3.36 3.40 3.66 4.75 
Commercial
2.64 2.62 2.63 2.94 4.00 
Commercial real estate
2.75 2.73 2.75 3.06 4.13 
Total commercial
3.78 3.48 3.52 3.53 4.12 
Consumer:
Automobile
3.71 3.88 3.93 3.84 4.05 
Home equity
3.71 3.76 3.79 3.73 4.75 
Residential mortgage
3.13 3.27 3.41 3.51 3.70 
RV and marine 4.30 4.53 4.60 4.71 4.91 
Other consumer
11.17 11.12 11.23 11.10 12.39 
Total consumer
3.78 3.93 4.00 4.00 4.45 
Total loans and leases
3.78 3.70 3.75 3.75 4.29 
Total earning assets
3.11 3.13 3.22 3.35 3.88 
Liabilities
Interest-bearing deposits:
Demand deposits - interest-bearing
0.04 0.04 0.05 0.07 0.43 
Money market deposits0.06 0.10 0.28 0.40 0.81 
Savings and other domestic deposits
0.04 0.05 0.06 0.10 0.17 
Core certificates of deposit (4)
0.51 0.56 1.03 1.55 1.91 
Other domestic deposits of $250,000 or more
0.22 0.51 0.92 1.25 1.56 
Brokered deposits and negotiable CDs
0.18 0.19 0.19 0.18 1.22 
Total interest-bearing deposits
0.06 0.08 0.18 0.28 0.68 
Short-term borrowings
0.19 0.26 0.30 0.47 1.46 
Long-term debt
(5.88)1.72 1.87 2.58 2.70 
Total interest-bearing liabilities
(0.53)0.27 0.39 0.57 0.98 
Net interest rate spread
3.64 2.86 2.83 2.78 2.90 
Impact of noninterest-bearing funds on margin
(0.16)0.08 0.13 0.16 0.24 
Net interest margin
3.48 %2.94 %2.96 %2.94 %3.14 %
Commercial Loan Derivative Impact
(Unaudited)
Average Rates
20212020202020202020
Fully-taxable equivalent basis (1)
FirstFourthThirdSecondFirst
Commercial loans (2)(3)
3.22 %2.92 %3.01 %3.17 %4.08 %
Impact of commercial loan derivatives
0.56 0.56 0.51 0.36 0.04 
Total commercial - as reported
3.78 %3.48 %3.52 %3.53 %4.12 %
Average 1 Month LIBOR
0.12 %0.15 %0.16 %0.36 %1.41 %
(1)Fully-taxable equivalent (FTE) yields are calculated assuming a 21% tax rate. See page 9 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.
8


Huntington Bancshares Incorporated
Selected Quarterly Income Statement Data
(Unaudited)
Three Months Ended
(dollar amounts in millions, except per share data)March 31,December 31,September 30,June 30,March 31,
20212020202020202020
Interest income
$869 $878 $892 $902 $975 
Interest expense
(103)53 75 110 185 
Net interest income
972 825 817 792 790 
Provision for credit losses
(60)103 177 327 441 
Net interest income after provision for credit losses
1,032 722 640 465 349 
Mortgage banking income100 90 122 96 58 
Service charges on deposit accounts 69 78 76 60 87 
Card and payment processing income65 65 66 59 58 
Trust and investment management services52 49 48 45 47 
Capital markets fees29 34 27 31 33 
Insurance income27 25 24 25 23 
Bank owned life insurance income16 14 17 17 16 
Gain on sale of loans13 13 
Net (losses) gains on sales of securities— — — (1)— 
Other noninterest income34 41 37 51 31 
Total noninterest income
395 409 430 391 361 
Personnel costs468 426 453 418 395 
Outside data processing and other services115 111 98 90 85 
Equipment46 49 44 46 41 
Net occupancy42 39 40 39 40 
Professional services17 21 12 11 11 
Amortization of intangibles10 10 10 10 11 
Marketing14 15 
Deposit and other insurance expense
Other noninterest expense73 77 40 47 51 
Total noninterest expense
793 756 712 675 652 
Income before income taxes
634 375 358 181 58 
Provision for income taxes
102 59 55 31 10 
Net income
532 316 303 150 48 
Dividends on preferred shares
31 35 28 19 18 
Net income applicable to common shares
$501 $281 $275 $131 $30 
Average common shares - basic
1,018 1,017 1,017 1,016 1,018 
Average common shares - diluted
1,041 1,036 1,031 1,029 1,035 
Per common share
Net income - basic
$0.49 $0.28 $0.27 $0.13 $0.03 
Net income - diluted
0.48 0.27 0.27 0.13 0.03 
Cash dividends declared
0.15 0.15 0.15 0.15 0.15 
Revenue - fully-taxable equivalent (FTE)
Net interest income
$972 $825 $817 $792 $790 
FTE adjustment
Net interest income (1)
978 830 822 797 796 
Noninterest income
395 409 430 391 361 
Total revenue (1)
$1,373 $1,239 $1,252 $1,188 $1,157 
(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)
202120202020202020204Q201Q20
Net origination and secondary marketing income
$94 $92 $118 $91 $45 %109 %
Net mortgage servicing income
          Loan servicing income
17 16 15 14 16 
          Amortization of capitalized servicing(20)(17)(15)(12)(9)(18)(122)
    Operating income
(3)(1)— (200)(143)
          MSR valuation adjustment (1)51 (6)(53)1,175 196 
          Gains (losses) due to MSR hedging
(46)(9)(1)57 (411)(181)
     Net MSR risk management (5)— 200 25 
Total net mortgage servicing income
$$(6)$$$11 133 %(82)%
All other— 100 
Mortgage banking income
$100 $90 $122 $96 $58 11 %72 %
Mortgage origination volume$4,042 $3,741 $3,811 $3,802 $2,136 %89 %
Mortgage origination volume for sale
2,66