Company: HBAN
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000049196-25-000020
Chunk: 233

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 233
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 segments. Assets include investment securities and bank owned life insurance. 

2024 Form 10-K     85

Table of Contents

Net interest income includes the impact of administering our investment securities portfolios, the net impact of derivatives used to hedge interest rate sensitivity, as well as the financial impact associated with our FTP methodology, as described above. Noninterest income includes miscellaneous fee income not allocated to other business segments, such as bank owned life insurance income and securities and trading asset gains or losses. Noninterest expense includes certain corporate administrative, acquisition-related expenses, if any, and other miscellaneous expenses not allocated to other business segments. The provision for income taxes for the business segments is calculated at a statutory 21% tax rate, although our overall effective tax rate is lower.

Table 28 - Key Performance Indicators for Treasury / Other Year Ended December 31,Change from 2023Year Ended December 31,(dollar amounts in millions unless otherwise noted)20242023AmountPercent2022Net interest income$(848)$(440)$(408)(93)%$253 Noninterest income23 18 5 28 42 Noninterest expense:Direct personnel costs959 889 70 8 833 Other noninterest expense, including corporate allocations(788)(513)(275)(54)(612)Total noninterest expense171 376 (205)(55)221 (Loss) income before income taxes(996)(798)(198)(25)74 Benefit for income taxes(271)(255)(16)(6)(51)Income attributable to non-controlling interest— — — — 1 Net (loss) income attributable to Huntington$(725)$(543)$(182)(34)%$124 Number of employees (average full-time equivalent)6,334 6,143 191 3 %5,836 Total average assets$57,587 $52,410 $5,177 10 $49,820 

Treasury / Other reported a net loss of $725 million in 2024, an increase in net loss of $182 million, compared to the year-ago period, driven by a decrease in net interest income, partially offset by a decrease in noninterest expense. Net interest income decreased $408 million primarily due to a higher cost of funds and the impact from derivatives. Noninterest expense decreased $205 million primarily due to an increase in corporate allocations. 

ADDITIONAL DISCLOSURES

Forward-Looking Statements

This