01—Abstract
Summary
Summary of the 10-Q filed October 27, 2026. Cited figures are marked; the original filing is the authoritative source.
Huntington Bancshares reported net income attributable to Huntington of $721 milliona, or $0.33 per diluted common share, for the third quarter of 2026, compared with $629 million, or $0.41 per diluted share, in the third quarter of 2025.
The quarter included $117 millionb of acquisition-related expenses, or $92 million after tax, which reduced diluted earnings by $0.05 per share. Net interest income rose 37% to $2.1 billion, and the FTE net interest margin was 3.25%, reflecting the Cadence and Veritex acquisitions and organic growth. Noninterest expense rose 42% to $1.8 billion, and the efficiency ratio was 61.2% compared with 57.4% a year earlier.
At September 30, 2026, total assets were $287.8 billionc, up 28% from December 31, 2025, primarily due to the Cadence acquisition and organic loan growth. Loans and leases totaled $191.4 billion and total deposits were $224.7 billion. Credit metrics weakened: nonperforming assets rose $777 million, or 82%, to $1.7 billion, partly from $295 million of NPAs assumed in the Cadence deal, and third-quarter net charge-offs were 0.31% of average loans and leases versus 0.22% a year earlier.
The ACL was $3.4 billiond, or 1.75% of total loans and leases. Capital ratios declined from year-end, with the CET1 risk-based capital ratio at 10.1% versus 10.4% and the tangible common equity to tangible assets ratio at 6.9% versus 7.1%. During the first nine months of 2026, the company repurchased 24.8 million shares for $409 million, leaving $2.85 billion of authorization remaining.
In September 2026, Fitch lowered Huntington's senior unsecured debt rating to BBB+, which Fitch said reflected its methodology for institutions expected to be subject to Category III standards rather than a change in credit profile. Moody's ratings outlook for Huntington and The Huntington National Bank is Negative.
02—Key points
Key Highlights
- Q3 2026 net income attributable to Huntington was $721 million, or $0.33 per diluted share, versus $629 million, or $0.41 per diluted share, in Q3 2025.
- Acquisition-related expenses were $117 million in Q3 2026 ($92 million after tax, or $0.05 per diluted share), and noninterest expense rose 42% to $1.8 billion.
- Net interest income increased 37% to $2.1 billion, with the FTE net interest margin at 3.25%, up 12 basis points.
- Total assets reached $287.8 billion, up 28% from year-end, driven by the Cadence acquisition completed February 1, 2026.
- Nonperforming assets rose 82% to $1.7 billion, and the ACL was $3.4 billion, or 1.75% of total loans and leases.
- CET1 risk-based capital ratio declined to 10.1% from 10.4% at December 31, 2025, and the company repurchased $409 million of common stock in the first nine months of 2026.
- Fitch lowered Huntington's senior unsecured debt rating to BBB+ in September 2026, and Moody's ratings outlook is Negative.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ3 FY2026filed October 27, 2026Financial Statements
Q3 FY2026 against Q3 FY2025
| Line item | Q3 FY2026Q3 FY2025 | Change |
|---|---|---|
| Revenue | $484.00M$424.00M | +14.2% |
| Net Income | $721.00M$629.00M | +14.6% |
| EPS (Basic) | $0.34$0.41 | −17.1% |
| EPS (Diluted) | $0.33$0.41 | −19.5% |
| Shares Outstanding (Basic) | 2.02B1.46B | +38.4% |
| Shares Outstanding (Diluted) | 2.05B1.48B | +37.9% |
05—Questions
Frequently Asked Questions
What drove the decline in diluted EPS despite higher net interest income?
Diluted EPS was $0.33 in Q3 2026 versus $0.41 in Q3 2025. Net interest income rose $563 million, or 37%, and noninterest income rose $94 million, or 15%. However, noninterest expense increased $526 million, or 42%, including $117 million of acquisition-related expenses, and the average diluted share count rose to 2,047 million from 1,485 million, reflecting shares issued in the Cadence and Veritex acquisitions.
How did asset quality change during the quarter?
Third-quarter net charge-offs were $146 million, or 0.31% of average loans and leases, compared with $75 million, or 0.22%, a year earlier. Provision for credit losses was $123 million. Nonaccrual loans and leases reached $1.7 billion, and nonperforming assets were $1.7 billion, up $777 million from year-end, including $295 million of NPAs acquired with Cadence. The ACL coverage ratio fell to 1.75% from 1.83%.
How strong is the company's capital position?
The consolidated CET1 risk-based capital ratio was 10.1% at September 30, 2026, versus 10.4% at year-end, driven by higher risk-weighted assets from the Cadence acquisition and loan growth, and by share repurchases. The Bank's CET1 ratio was 11.9%. Shareholders' equity to total assets was 11.2%, and the tangible common equity to tangible assets ratio was 6.9%. The company stated it believes its capital levels are adequate.
What are the main credit rating developments?
In September 2026, Fitch lowered Huntington's senior unsecured debt rating to BBB+ and subordinated debt rating to BBB, which Fitch said reflected the application of its methodology for institutions expected to be subject to Category III regulatory standards and did not reflect a change in its assessment of the underlying credit profile. Moody's rates the parent's senior notes Baa1 and the Bank's senior notes A3, with a Negative outlook for both entities.
06—Continue