01—Abstract
Summary
Summary of the 10-Q filed July 28, 2026. Cited figures are marked; the original filing is the authoritative source.
Huntington Bancshares Incorporated reported second-quarter 2026 net income attributable to Huntington of $727 milliona, or $0.33 per diluted common share, compared with $536 million, or $0.34 per diluted share, in the year-ago quarter.
Results were weighed down by $152 millionb of acquisition-related expenses, which reduced diluted earnings by $0.06 per share. Net interest income rose $585 million, or 40%, to $2.1 billion, reflecting the Cadence and Veritex acquisitions and organic growth, with the FTE net interest margin up 10 basis points to 3.21%. Noninterest income increased 67% to $785 million and noninterest expense rose 51% to $1.8 billion, both largely driven by the acquisitions.
The balance sheet expanded substantially following the February 1, 2026 Cadence acquisition. Total assets were $284.0 billionc at June 30, 2026, up $58.9 billion, or 26%, from year-end 2025, and total deposits reached $222.5 billion. Credit costs increased: nonperforming assets rose $667 million, or 71%, to $1.6 billion, and net charge-offs were $119 million, or 0.25% of average loans and leases, for the quarter.
The ACL was $3.4 billiond, or 1.78% of total loans and leases. Capital remained above well-capitalized standards, though the CET1 risk-based capital ratio declined to 10.0% from 10.4% at year-end 2025. Management stated that liquidity sources are sufficient for the next 12 months and beyond.
The filing also notes a pending lawsuit involving Cadence Bank with a reasonably possible loss range of $0 to $75 million, and a trial scheduled to begin November 4, 2026. The Board declared a quarterly common dividend of $0.155 per share payable October 1, 2026.
02—Key points
Key Highlights
- Net income attributable to Huntington was $727 million ($0.33 diluted EPS) for Q2 2026, versus $536 million ($0.34 diluted EPS) a year earlier, after $152 million of acquisition-related expenses.
- Net interest income increased $585 million, or 40%, to $2.1 billion; FTE net interest margin rose 10 basis points to 3.21%.
- Noninterest income rose $314 million, or 67%, to $785 million, and noninterest expense rose $612 million, or 51%, to $1.8 billion.
- Total assets were $284.0 billion at June 30, 2026, up $58.9 billion, or 26%, from December 31, 2025, primarily from the Cadence acquisition.
- Nonperforming assets totaled $1.6 billion, an increase of $667 million, or 71%; Q2 net charge-offs were $119 million, or 0.25% of average loans and leases.
- CET1 risk-based capital ratio was 10.0% versus 10.4% at year-end 2025; the Bank's CET1 ratio was 11.8%.
- Board repurchased 18.8 million common shares for $309 million in the first half of 2026 under a new $3.0 billion authorization approved April 22, 2026.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ2 FY2026filed July 28, 2026Financial Statements
Q2 FY2026 against Q2 FY2025
| Line item | Q2 FY2026Q2 FY2025 | Change |
|---|---|---|
| Revenue | $502.00M$377.00M | +33.2% |
| Net Income | $727.00M$536.00M | +35.6% |
| EPS (Basic) | $0.34$0.35 | −2.9% |
| EPS (Diluted) | $0.33$0.34 | −2.9% |
| Shares Outstanding (Basic) | 2.02B1.46B | +38.7% |
| Shares Outstanding (Diluted) | 2.05B1.48B | +38.3% |
05—Questions
Frequently Asked Questions
How did the Cadence and Veritex acquisitions affect Huntington's results?
The acquisitions drove most of the year-over-year growth. Huntington issued 462 million shares for Cadence, with total consideration of $8.3 billion, and 107 million shares plus 1 million from equity awards for Veritex, with total consideration of $1.7 billion. Average earning assets rose $67.5 billion, or 35%, and noninterest expense included $152 million of acquisition-related costs in the second quarter.
Why did asset quality metrics worsen in the second quarter?
Nonaccrual loans and leases reached $1.6 billion, and total NPAs rose $667 million, or 71%, from year-end 2025, including $295 million of NPAs assumed in the Cadence acquisition. Net charge-offs increased to $119 million from $66 million a year earlier, and the provision for credit losses rose to $132 million.
What is Huntington's capital position after the Cadence acquisition?
Shareholders' equity was $32.6 billion, or 11.5% of total assets. The consolidated CET1 ratio was 10.0%, down from 10.4%, due to higher risk-weighted assets, the Cadence acquisition, and share repurchases. The Bank's CET1 ratio was 11.8%, and the company stated it exceeded well-capitalized standards.
What is the status of the Cadence litigation disclosed in the filing?
The filing describes a suit brought by a receiver on behalf of the Louisiana Insurance Commission against Cadence, seeking approximately $350 million in compensatory damages plus punitive damages. The trial court took the challenge to the remaining claims under advisement after a July 1, 2026 hearing, and trial is scheduled for November 4, 2026. Management estimates a reasonably possible loss range of $0 to $75 million in excess of accrued amounts.
06—Continue