01—Abstract
Summary
Summary of the 8-K filed July 23, 2026. Cited figures are marked; the original filing is the authoritative source.
Huntington Bancshares Incorporated reported net income attributable to Huntington of $727 milliona, or $0.33 per diluted common share, for the quarter ended June 30, 2026, up $204 million, or 39%, from the prior quarter and $191 million, or 36%, from the year-ago quarter.
The results include $152 millionb of pre-tax Notable Items from acquisition-related expenses. Excluding Notable Items, adjusted EPS was $0.39, and return on average tangible common equity was 15.1%, or 17.5% adjusted for Notable Items. The company completed the systems conversion of Cadence Bank in mid-June, which management described as the last major milestone in the integration.
Net interest income rose to $2.05 billionc, up 9% from the prior quarter and 40% from the year-ago quarter, and noninterest income reached $785 million, up 15% sequentially and 67% year over year. Growth was driven by the Cadence and Veritex acquisitions, with average total loans and leases of $189.3 billion and average total deposits of $223.4 billion. Net interest margin was 3.21%.
Noninterest expense was $1.81 billiond, including the Notable Items, and the efficiency ratio was 61.5%. Credit metrics weakened from the prior quarter. Nonperforming assets rose to $1.6 billion, or 0.85% of loans, leases, OREO and other NPAs, compared with 0.72% in the first quarter.
Net charge-offs were 0.25% of average loans and leases, and the allowance for credit losses was $3.4 billion, or 1.78% of total loans and leases. The CET1 risk-based capital ratio was an estimated 10.0% at June 30, 2026, down from 10.2% at March 31, 2026, and tangible book value per share was $9.65. Huntington repurchased $159 million of common shares in the quarter.
02—Key points
Key Highlights
- Diluted EPS of $0.33 included $152 million of pre-tax acquisition-related Notable Items; adjusted EPS was $0.39, up $0.02 from the prior quarter.
- Net interest income of $2.05 billion rose 9% sequentially and 40% year over year, with net interest margin of 3.21%.
- Noninterest income of $785 million rose 15% from the prior quarter and 67% from the year-ago quarter, led by capital markets and advisory fees of $140 million.
- Average total loans and leases were $189.3 billion, up 9% sequentially and 42% year over year, reflecting the Cadence and Veritex acquisitions.
- Nonperforming assets increased to $1.6 billion, or 0.85% of the loan and OREO base, from 0.72% in the prior quarter, driven by commercial and industrial, residential mortgage, and commercial real estate nonaccrual loans.
- CET1 ratio was an estimated 10.0%, down from 10.2% in the prior quarter, and tangible book value per share was $9.65, up 1% sequentially.
- Cadence Bank systems conversion was completed in mid-June 2026, which management described as the final major integration milestone.
03—Questions
Frequently Asked Questions
How did Huntington perform in the second quarter of 2026?
Huntington reported net income attributable to Huntington of $727 million, or $0.33 per diluted common share, including $152 million of pre-tax Notable Items from acquisition-related expenses. Excluding these items, adjusted EPS was $0.39.
What drove the increase in revenue?
Net interest income rose 40% from the year-ago quarter and noninterest income rose 67%, with the filing attributing much of the growth to the Cadence and Veritex acquisitions. Capital markets and advisory fees increased 67% year over year, and payments and cash management revenue increased 24%.
How did credit quality change?
Nonperforming assets were $1.6 billion, or 0.85% of total loans, leases, OREO and other NPAs, up from 0.72% in the first quarter. Net charge-offs were 0.25% of average loans and leases, and the allowance for credit losses was 1.78% of total loans and leases.
What is the status of capital and shareholder returns?
The estimated CET1 ratio was 10.0% at June 30, 2026, compared with 10.2% at March 31, 2026, with the decline attributed to higher risk-weighted assets and share repurchases. Huntington repurchased $159 million of common shares in the second quarter and declared a quarterly dividend of $0.155 per common share.
What did management say about the outlook?
Management said the Cadence systems conversion completed in June marked the last major integration milestone, that it has strong line of sight to remaining cost synergies, and that the full earnings power of the acquisitions should be evident by the fourth quarter of 2026. It also said it is positioned to achieve its financial targets.
04—Continue