Huntington Bancshares (HBAN) Barclays 23rd Annual Global Financial Services Conference summary

Purpose and Vision

• Committed to improving lives, supporting businesses, and strengthening communities.

• Aims to be the leading people-first, digitally powered bank, guided by a moderate-to-low risk appetite through economic cycles.

Strategic Growth and Expansion

• Leveraging strong liquidity and capital to drive organic growth, outperforming peers in loan and deposit growth, especially in new and high-growth markets and verticals.

• Expanding the franchise in the Carolinas and Texas, adding a sixth market, with a multi-year branch buildout and commercial-led strategies.

• Six Carolina regions represent over $150 billion in deposits and 9.5 million population, with 1.2% annual growth forecast through 2029.

• De novo branch playbook achieves breakeven in 1–2 years, with five new branches meeting loan and deposit targets.

• New commercial specialty verticals and a mortgage service lending team have been launched, with strong early results in customer acquisition and revenue.

Financial Performance and Guidance

• Net interest income guidance remains unchanged, with expectations of stable to rising margins into 2025, supported by fixed asset repricing and proactive deposit cost management.

• Loan growth forecasted at approximately 3% for 2024, with acceleration expected into 2025; deposits up $2.2 billion in 3Q QTD and $9 billion+ since 1Q23.

• Asset sensitivity targeted to reduce by about 40% by year-end and over 50% by mid-2025, mitigating rate volatility.

• Fee revenue growth is driven by capital markets, payments, and wealth management, with full-year guidance of up 5%-7%.

• Down beta action plans are in place, with deposit pricing strategies tailored to each pool and readiness to act quickly as rates change.