01—Abstract
Summary
Summary of the 10-Q filed October 28, 2025. Cited figures are marked; the original filing is the authoritative source.
Huntington Bancshares Incorporated reported third-quarter 2025 net income attributable to Huntington of $629 milliona, or $0.41 per diluted common share, compared with $517 million, or $0.33 per diluted share, in the year-ago quarter.
Net interest income rose $155 millionb, or 11%, to $1.5 billion, driven by a 15 basis point increase in the FTE net interest margin to 3.13% and growth in average earning assets. Noninterest income increased $105 million, or 20%, to $628 million, including a $24 million gain on the sale of a portion of the trust and custody business. Noninterest expense rose $116 million, or 10%, to $1.2 billion and included $14 million of Veritex acquisition-related expenses.
The provision for credit losses was $122 millionc, and net charge-offs were an annualized 0.22% of average loans and leases. At September 30, 2025, total assets were $210.2 billion, loans and leases were $138.0 billion, and total deposits were $165.2 billion. The allowance for credit losses was $2.6 billion, or 1.86% of total loans and leases.
The CET1 risk-based capital ratio was 10.6%, up from 10.5% at December 31, 2024. Shareholders' equity totaled $22.2 billiond, including $741 million of perpetual preferred stock issued in the third quarter.
Subsequent to quarter-end, Huntington completed its acquisition of Veritex Holdings, Inc. on October 20, 2025, issuing approximately 108 million shares for total consideration of about $1.7 billion. On October 27, 2025, Huntington announced a definitive agreement to acquire Cadence Bank in an all-stock transaction valued at approximately $7.4 billion, which is expected to close in the first quarter of 2026, subject to regulatory and shareholder approvals.
02—Key points
Key Highlights
- Q3 2025 net income attributable to Huntington was $629 million, or $0.41 per diluted share, versus $517 million, or $0.33 per diluted share, a year earlier.
- Net interest income increased $155 million, or 11%, to $1.5 billion, with the FTE net interest margin up 15 basis points to 3.13%.
- Noninterest income rose $105 million, or 20%, to $628 million, supported by a $24 million gain on the sale of a portion of the trust and custody business.
- Noninterest expense increased $116 million, or 10%, to $1.2 billion, including $14 million of Veritex acquisition-related expenses.
- Net charge-offs were an annualized 0.22% of average loans and leases, down from 0.30% a year earlier; the ACL was 1.86% of total loans and leases.
- CET1 risk-based capital ratio was 10.6% at September 30, 2025, compared with 10.5% at December 31, 2024.
- The Veritex acquisition closed on October 20, 2025, and the all-stock Cadence Bank acquisition, valued at about $7.4 billion, was announced on October 27, 2025 with expected closing in the first quarter of 2026.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ3 FY2025filed October 28, 2025Financial Statements
Q3 FY2025 against Q3 FY2024
| Line item | Q3 FY2025Q3 FY2024 | Change |
|---|---|---|
| Revenue | $424.00M$362.00M | +17.1% |
| Net Income | $629.00M$517.00M | +21.7% |
| EPS (Basic) | $0.41$0.33 | +24.2% |
| EPS (Diluted) | $0.41$0.33 | +24.2% |
| Shares Outstanding (Basic) | 1.46B1.45B | +0.4% |
| Shares Outstanding (Diluted) | 1.48B1.48B | +0.5% |
05—Questions
Frequently Asked Questions
How did Huntington's quarterly earnings compare with the prior year?
Net income attributable to Huntington was $629 million, or $0.41 per diluted share, for the third quarter of 2025, compared with $517 million, or $0.33 per diluted share, in the third quarter of 2024. Net income applicable to common shares rose 25% to $602 million.
What drove the increase in net interest income?
Net interest income increased $155 million, or 11%, to $1.5 billion. The filing attributes the increase primarily to a 15 basis point rise in the FTE net interest margin to 3.13% and a $10.8 billion, or 6%, increase in average earning assets, partially offset by a $10.1 billion, or 7%, increase in average interest-bearing liabilities. The higher margin was driven by lower cost of funding, partially offset by lower yields on earning assets and net hedging activity.
What are the main pending and completed transactions disclosed?
Huntington completed its acquisition of Veritex Holdings, Inc. effective October 20, 2025, issuing 107 million shares plus 1 million shares for equity awards, for total consideration of about $1.7 billion. Veritex had $12.8 billion in assets, $9.6 billion in loans, and $10.8 billion in deposits at September 30, 2025. On October 27, 2025, Huntington agreed to acquire Cadence Bank in a 100% stock transaction at 2.475 shares per Cadence share, valued at approximately $7.4 billion based on Huntington's October 24, 2025 closing price of $16.07. Cadence had $53 billion in assets at September 30, 2025, and the merger is expected to close in the first quarter of 2026.
How is credit quality trending?
Net charge-offs were $75 million, or an annualized 0.22% of average loans and leases, in the third quarter of 2025, down from $93 million, or 0.30%, a year earlier. Nonperforming assets were $821 million at September 30, 2025, compared with $822 million at December 31, 2024. The ACL totaled $2.6 billion, or 1.86% of total loans and leases.
What is the company's capital and shareholder return position?
The CET1 risk-based capital ratio was 10.6% at September 30, 2025. Shareholders' equity totaled $22.2 billion, including $741 million of Series K perpetual preferred stock issued in the third quarter. The Board declared a quarterly common dividend of $0.155 per share on October 15, 2025. A $1.0 billion common share repurchase authorization approved in April 2025 remained in place, and no shares had been repurchased under it as of the filing.
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