Huntington Bancshares Incorporated

What they do

Huntington provides full-service commercial and consumer deposit, lending, and other banking and financial services, including payments, mortgage banking, direct and indirect consumer financing, investment banking, capital markets, advisory, equipment financing, distribution finance, investment management, trust, brokerage, and insurance. As of June 30, 2026, it operated over 1,400 branches in 21 states, with Commercial and Vehicle Finance businesses delivering expertise nationally.

Revenue drivers

• Net Interest Income — Largely from commercial and consumer loans; Q2 2026 net interest income was $2,052 million, up 40% year-over-year, driven by loan growth and acquisitions.
• Noninterest Income — Includes payments, capital markets, and other fee-based services; Q2 2026 noninterest income was $785 million, up 67% year-over-year.
• Commercial Loans — Average commercial loans grew 11% from prior quarter and 59% year-over-year to support net interest income; represents the largest loan segment.
• Consumer Loans — Average consumer loans grew 5% from prior quarter and 20% year-over-year, contributing to overall loan growth.

Recent performance

In Q2 2026, Huntington reported net income of $727 million, or $0.33 per common share, up 39% from the prior quarter and up 36% year-over-year. Adjusted EPS was $0.39, excluding acquisition-related notable items. Net interest income rose 40% year-over-year to $2,052 million, and noninterest income rose 67% to $785 million. Net charge-offs were 0.25% of average loans, and the ACL was 1.78% of total loans. CET1 ratio was 10.0%, and tangible book value per share was $9.65.

Strategy

Huntington is executing a growth strategy through acquisitions, having completed the Veritex (October 2025) and Cadence (February 2026) acquisitions to expand its Texas and Southeast footprint. Management highlights successful integration, including the Cadence systems conversion in June 2026, and early revenue synergies in Cadence markets. The company is focused on growing key strategic fee revenues and net interest income while maintaining credit quality. Organic growth in legacy markets has been strong, and management sees robust pipelines entering the second half of 2026.

Risks

• Capital markets access — A loss of access to capital markets or a credit rating downgrade could increase funding costs and limit growth.
• Interest rate risk — Changes in interest rates could reduce net interest income and negatively impact the value of loans, securities, and other assets.
• Credit risk — The allowance for credit losses may prove inadequate if economic conditions weaken, particularly given the emphasis on commercial lending.
• Operational/cyber risk — Failures or breaches in operational or security systems, including third-party infrastructure, could disrupt operations and cause reputational harm.

Outlook

Management states that the operating environment remains constructive and that pipelines are robust as they enter the second half of 2026. With the Veritex, Janney, and Cadence integrations behind them, they are well positioned to deliver on strategic goals. The company expects continued revenue synergies from Cadence and improved performance from legacy growth.