Huntington Bancshares (HBAN) investor relations material

Executive summary

• Achieved strong organic growth and successful integration of Cadence and Veritex, driving significant cost and revenue synergies and positioning for accelerated future growth.

• Delivered robust profitability with notable increases in revenue, pre-provision net revenue (PPNR), and tangible book value per share.

• Maintained disciplined capital allocation, supporting loan growth, dividends, and share repurchases.

• Completed Cadence systems conversion, onboarding thousands of customers and colleagues.

Financial highlights

• Total revenue (FTE) grew 46% year-over-year to $2.86B in 2Q26; net interest income rose 40% YoY to $2.05B, and noninterest income increased 67% YoY to $785M.

• Adjusted PPNR increased 12% quarter-over-quarter; EPS was $0.33 GAAP and $0.39 adjusted; ROTCE at 15.1% GAAP and 17.5% adjusted.

• Average total loans and leases grew 9% sequentially and 42% year-over-year to $189.3 billion; average deposits increased 9% sequentially and 37% year-over-year to $223.4 billion.

• Fee revenues grew over 60% year-over-year, with capital markets up 46%, payments up 10%, and wealth management up 12%.

• Noninterest expense increased due to integration costs but positive adjusted operating leverage was achieved; expense reduction program delivered more than 1.5% reduction to baseline operating expenses.

Outlook and guidance

• FY26 outlook unchanged: net interest income expected to grow 39–43%, average loans 36–37%, and average deposits 33–34% YoY.

• Fee income expected at the high end or above guidance, with strong performance in payments, wealth, and capital markets.

• On track to achieve $435 million in annualized run rate cost synergies by Q4; core efficiency ratio targeted in the mid to low 54% range.

• EPS guidance for 2027 is $1.90–$1.93, with ROTCE of 18%-19% and ~30% EPS growth from 2025 level.

• Net charge-offs forecasted at 25–35 bps, effective tax rate at 19–20%.