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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Huntington Bancshares Inc | NASDAQ:HBAN | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 13.96 | 13.80 | 13.96 | 0 | 10:03:08 |
Q3 Results Highlighted by Sustained Core Deposit Growth, Expansion of CET1 Capital, and Strong Credit Quality
2023 Third-Quarter Highlights:
COLUMBUS, Ohio, Oct. 20, 2023 /PRNewswire/ -- Huntington Bancshares Incorporated (Nasdaq: HBAN) reported net income for the 2023 third quarter of $547 million, or $0.35 per common share, a decrease of $47 million, or $0.04, from the year-ago quarter.
Return on average assets was 1.16%, return on average common equity was 12.4%, return on average tangible common equity (ROTCE) was 19.5%.
CEO Commentary:
"We are pleased to deliver third quarter results highlighted by our top tier return profile and continued expansion of common equity tier 1 capital, which we drove to above 10%," said Steve Steinour, chairman, president, and CEO. "We remain focused on executing our growth strategy, and leveraging the strength of our balance sheet to continue serving customers across the company. In the third quarter, we delivered another sequential increase in core deposits, further bolstered our leading liquidity position, added to our top tier credit reserves, and continued our disciplined management of credit quality consistent with our aggregate moderate-to-low risk appetite.
"Huntington is exceptionally well-positioned to thrive as we manage through the dynamic environment. We continue to deliver on our strategy while taking actions to position the company for sustained growth in the years ahead.
"Finally, we were once again named as the number one SBA lender in the U.S. for the sixth consecutive year for SBA 7(a) loan originations by volume. We are committed to helping small businesses by providing access to capital to support their growth."
The third quarter 2023 earnings materials, including the detailed earnings press release, quarterly financial supplement, and conference call slide presentation, are available on the Investor Relations section of Huntington's website, http://huntington.com/ In addition, the financial results will be furnished on a Form 8-K that will be available on the Securities and Exchange Commission website at www.sec.gov.
Conference Call / Webcast Information
Huntington's senior management will host an earnings conference call on October 20, 2023, at 9:00 a.m. (Eastern Time). The call may be accessed via a live Internet webcast at the Investor Relations section of Huntington's website, www.huntington.com, or through a dial-in telephone number at (877) 407-8029; Conference ID #13741301. Slides will be available in the Investor Relations section of Huntington's website about an hour prior to the call. A replay of the webcast will be archived in the Investor Relations section of Huntington's website. A telephone replay will be available approximately two hours after the completion of the call through October 28, 2023 at (877) 660-6853 or (201) 612-7415; conference ID #13741301.
Please see the 2023 Third Quarter Quarterly Financial Supplement for additional detailed financial performance metrics. This document can be found on the Investor Relations section of Huntington's website, http://www.huntington.com.
About Huntington
Huntington Bancshares Incorporated is a $187 billion asset regional bank holding company headquartered in Columbus, Ohio. Founded in 1866, The Huntington National Bank and its affiliates provide consumers, small and middle‐market businesses, corporations, municipalities, and other organizations with a comprehensive suite of banking, payments, wealth management, and risk management products and services. Huntington operates more than 1,000 branches in 11 states, with certain businesses operating in extended geographies. Visit Huntington.com for more information.
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SOURCE Huntington Bancshares Incorporated
Copyright 2023 PR Newswire
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