01—Abstract
Summary
Summary of the 10-Q filed July 29, 2025. Cited figures are marked; the original filing is the authoritative source.
Huntington Bancshares Incorporated reported net income of $536 milliona, or $0.34 per diluted common share, for the second quarter of 2025, compared with $474 million, or $0.30 per diluted share, in the year-ago quarter.
Results were affected by an approximately $900 millionb investment securities repositioning that decreased pre-tax net income by $58 million, or $46 million after tax. Net interest income rose 12% to $1.5 billion, with the FTE net interest margin up 12 basis points to 3.11%, while noninterest income fell 4% to $471 million, mainly due to the $58 million securities loss. Noninterest expense increased 7% to $1.2 billion, and the provision for credit losses was $103 million.
Credit quality remained stable. Net charge-offs were 0.20% of average loans and leases in the quarter, down from 0.29% a year earlier, largely due to net recoveries in commercial real estate. Nonaccrual loans and leases were $842 millionc, or 0.62% of total loans and leases, and the ACL was $2.5 billion, or 1.86% of total loans and leases.
The CET1 risk-based capital ratio was 10.5% at both June 30, 2025 and December 31, 2024. Total assets reached $207.7 billion, and shareholders' equity rose to $20.9 billiond. The filing also discloses a definitive merger agreement announced July 14, 2025, under which Veritex Holdings, Inc. will merge into Huntington in an all-stock transaction at 1.95 Huntington shares per Veritex share, valued at approximately $1.9 billion based on Huntington's July 11, 2025 closing price of $17.39.
The merger is expected to close in the fourth quarter of 2025, subject to regulatory approvals and Veritex stockholder approval. Huntington also received a $1.0 billion share repurchase authorization on April 16, 2025, under which no shares had been repurchased as of the filing.
02—Key points
Key Highlights
- Q2 2025 net income attributable to Huntington was $536 million ($0.34 diluted EPS), up from $474 million ($0.30) in Q2 2024, despite a $58 million pre-tax loss from an approximately $900 million securities repositioning.
- Net interest income increased 12% to $1.5 billion, and the FTE net interest margin rose 12 basis points to 3.11%, driven by net hedging activity and lower cost of funds.
- Noninterest income declined 4% to $471 million, primarily due to the securities loss, partially offset by growth in wealth and asset management, deposit and loan fees, and payments revenue.
- Net charge-offs improved to 0.20% of average loans and leases from 0.29% a year earlier; the ACL totaled $2.5 billion, or 1.86% of total loans and leases.
- Huntington agreed to acquire Veritex Holdings, Inc. in an all-stock deal valued at approximately $1.9 billion, with Veritex holding $12.5 billion in assets and $10.4 billion in deposits as of June 30, 2025; closing is expected in Q4 2025.
- CET1 risk-based capital ratio held at 10.5%, and total shareholders' equity grew 6% to $20.9 billion versus December 31, 2024.
- A $1.0 billion common share repurchase authorization approved April 16, 2025 had not been used as of June 30, 2025.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ2 FY2025filed July 29, 2025Financial Statements
Q2 FY2025 against Q2 FY2024
| Line item | Q2 FY2025Q2 FY2024 | Change |
|---|---|---|
| Revenue | $377.00M$360.00M | +4.7% |
| Net Income | $536.00M$474.00M | +13.1% |
| EPS (Basic) | $0.35$0.30 | +16.7% |
| EPS (Diluted) | $0.34$0.30 | +13.3% |
| Shares Outstanding (Basic) | 1.46B1.45B | +0.4% |
| Shares Outstanding (Diluted) | 1.48B1.47B | +0.5% |
05—Questions
Frequently Asked Questions
How did Huntington perform in the second quarter of 2025?
Huntington reported net income of $536 million, or $0.34 per diluted share, compared with $474 million, or $0.30 per diluted share, a year earlier. Net interest income rose 12% to $1.5 billion, while noninterest income fell 4% to $471 million due largely to a $58 million loss on a securities repositioning.
What is the Veritex acquisition and when is it expected to close?
On July 14, 2025, Huntington agreed to merge with Veritex Holdings, Inc., a Dallas-based bank holding company, in a 100% stock transaction at 1.95 Huntington shares per Veritex share. The consideration was valued at approximately $1.9 billion based on Huntington's July 11, 2025 closing price of $17.39. The merger is expected to close in the fourth quarter of 2025, subject to regulatory approvals and Veritex stockholder approval.
How is Huntington's credit quality trending?
Net charge-offs were 0.20% of average loans and leases in the second quarter of 2025, down from 0.29% a year earlier, largely due to net recoveries in commercial real estate. Nonaccrual loans and leases rose to $842 million, or 0.62% of total loans and leases, from $783 million at year-end 2024, and the ACL was 1.86% of total loans and leases.
Is Huntington's capital position sufficient and what are its capital returns?
The CET1 risk-based capital ratio was 10.5% at both June 30, 2025 and December 31, 2024, and the Bank's CET1 ratio was 11.4%. The Board declared a quarterly common dividend of $0.155 per share payable October 1, 2025, and approved a $1.0 billion share repurchase authorization on April 16, 2025, of which no shares had been repurchased as of June 30, 2025.
What drove the decline in noninterest income and the securities repositioning?
Noninterest income fell $20 million, or 4%, from the year-ago quarter, primarily due to a $58 million net loss on the sale of securities from a corporate debt securities repositioning and a $9 million decline in leasing revenue. Partially offsetting these declines were increases in wealth and asset management revenue, customer deposit and loan fees, and payments and cash management revenue.
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