Huntington Bancshares (HBAN) investor relations material

Executive summary

• Achieved robust organic growth and successful integration of Cadence and Veritex acquisitions, driving significant cost and revenue synergies and expanding the footprint in high-growth markets, especially Texas and the South.

• Delivered strong profitability with notable increases in revenue, pre-provision net revenue (PPNR), tangible book value per share, and net income, supported by disciplined capital allocation.

• Completed Cadence systems conversion in June 2026, onboarding thousands of colleagues and customers.

• Maintained a strong capital position, supporting organic growth, dividends, and share repurchases.

• Focused on organic growth, cost and revenue synergies, and long-term value creation, targeting 18%-19% ROTCE by 2027.

Financial highlights

• Total revenue (FTE) grew 46% year-over-year to $2.86B in Q2 2026; net interest income rose 40% to $2.1B, driven by loan and deposit growth.

• Noninterest income increased 67% year-over-year to $785M, with strong contributions from capital markets, payments, and wealth management.

• Adjusted PPNR increased 12% quarter-over-quarter; EPS was $0.33 GAAP and $0.39 adjusted; net income reached $727M, up 39% sequentially and 36% year-over-year.

• Average loans and deposits grew 9% sequentially and over 35% year-over-year, with average loans at $189.3B and deposits at $223.4B.

• Noninterest expense rose 51% to $1.8B, including $152M in acquisition-related costs; efficiency ratio improved to 61.5%.

Outlook and guidance

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

• Management expects continued organic growth, strong fee income, and realization of full economic benefits from acquisitions by Q4.

• On track to achieve $435M in annualized run-rate cost synergies by Q4 2026; 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 targeted ~30% EPS growth from 2025.

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