01—Abstract
Summary
Summary of the 10-K filed February 13, 2026. Cited figures are marked; the original filing is the authoritative source.
Huntington Bancshares Incorporated reported 2025 net income of $2.2 billiona, or $1.39 per diluted common share, compared with $1.9 billion, or $1.22 per diluted share, in 2024.
Results included $168 millionb of acquisition-related expenses ($0.09 per diluted share). Net interest income rose 12% to $6.0 billion, driven by a 13 basis point increase in the FTE net interest margin to 3.13% and growth in average earning assets, while noninterest income rose 7% to $2.2 billion. Total assets were $225.1 billion at December 31, 2025, up $20.9 billion from the prior year, reflecting organic loan growth and the Veritex acquisition completed October 20, 2025 (valued at $1.7 billion).
The most consequential development for investors is the Cadence Bank merger, completed February 1, 2026, in an all-stock transaction valued at approximately $8.1 billionc based on Huntington's January 30, 2026 closing price of $17.48. Cadence had $54 billion in assets and $44 billion in deposits as of December 31, 2025. The filing states the combined company will operate nearly 1,400 branches in 21 states and that Huntington's total average assets are expected to exceed $250 billion in the fourth quarter of 2026, which would move it into Category III banking organization standards following a transition period.
Credit quality remained stable: net charge-offs were 0.23% of average loans and leases, down from 0.30%, and the ACL was $2.7 billiond, or 1.83% of total loans and leases. Capital ratios remained above well-capitalized standards, with the CET1 risk-based capital ratio at 10.4%, down from 10.5%. Management reported the internal control assessment as effective, excluding Veritex, and PricewaterhouseCoopers issued an unqualified opinion.
02—Key points
Key Highlights
- Net income of $2.2 billion, or $1.39 per diluted share, up from $1.22 in 2024; results include $168 million of acquisition-related expenses ($0.09 per diluted share).
- Net interest income of $6.0 billion, up 12%, with the FTE net interest margin rising 13 basis points to 3.13%.
- Noninterest income of $2.2 billion, up 7%; noninterest expense of $5.0 billion, up 10%.
- Total assets of $225.1 billion at December 31, 2025, up $20.9 billion, including $9.3 billion of loans acquired in the Veritex transaction.
- Cadence Bank merger completed February 1, 2026, valued at approximately $8.1 billion in an all-stock deal; Cadence had $54 billion in assets and $44 billion in deposits.
- Net charge-offs of 0.23% of average loans and leases, down from 0.30%; ACL of $2.7 billion, or 1.83% of total loans and leases.
- CET1 risk-based capital ratio of 10.4% at year-end 2025, above well-capitalized standards; $1.0 billion share repurchase authorization in place with no shares repurchased under it as of year-end.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-KFY2025filed February 13, 2026Financial Statements
FY2025 against FY2024
| Line item | FY2025FY2024 | Change |
|---|---|---|
| Revenue | $1.56B$1.47B | +6.4% |
| Net Income | $2.21B$1.94B | +14.0% |
| EPS (Basic) | $1.41$1.24 | +13.7% |
| EPS (Diluted) | $1.39$1.22 | +13.9% |
| Shares Outstanding (Basic) | 1.48B1.45B | +1.9% |
| Shares Outstanding (Diluted) | 1.50B1.48B | +1.9% |
05—Questions
Frequently Asked Questions
How did the Cadence Bank acquisition change Huntington's size and footprint?
Cadence merged into Huntington National Bank on February 1, 2026, in a 100% stock transaction of 2.475 Huntington shares for each Cadence share, valued at approximately $8.1 billion. The filing states that Huntington now operates nearly 1,400 branches in 21 states, compared with more than 1,000 branches in 14 states at December 31, 2025.
What regulatory changes could result from the Cadence merger?
Huntington's total consolidated assets exceeded $250 billion at closing, and average assets are expected to exceed $250 billion in the fourth quarter of 2026. After a transition period, Huntington and the Bank would become Category III banking organizations, subject to additional requirements such as the Supplementary Leverage Ratio, annual supervisory stress tests, company-run stress tests, and resolution plan submissions.
How strong is Huntington's credit quality and capital position?
Net charge-offs were $316 million, or 0.23% of average loans and leases, in 2025, down from 0.30% in 2024. Nonperforming assets rose to $945 million, and the ACL was 1.83% of total loans and leases. The CET1 ratio was 10.4% at year-end 2025, and the Bank's CET1 ratio was 11.7%, both above well-capitalized standards.
What drove the increase in Huntington's 2025 earnings?
Net interest income increased $646 million, or 12%, reflecting a 13 basis point increase in the FTE net interest margin to 3.13% and an $13.9 billion increase in average earning assets. Noninterest income rose $135 million, or 7%, led by higher customer deposit and loan fees, wealth and asset management revenue, and payments revenue, partially offset by securities losses. Noninterest expense rose $453 million, or 10%, including $168 million of acquisition-related expenses.
06—Continue