Company: HBAN
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000049196-25-000079
Chunk: 79

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 2
Chunk 79
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1%. The increase in average interest-bearing deposits was primarily driven by increases in average money market deposits and demand deposits, partially offset by a decrease in time deposits. The increase in average total borrowings was driven by an increase in long-term FHLB advances, debt issuances, and auto loan securitization and CLN transactions used to support asset growth.

Average shareholders’ equity for the first nine-month period of 2025 increased $1.1 billion, or 6%, from the year-ago period primarily due to earnings, net of dividends and improvement in average accumulated other comprehensive income, partially offset by the 2024 series E preferred stock redemption.

Provision for Credit Losses

(This section should be read in conjunction with the “Credit Risk” section.)

The provision for credit losses for the third quarter of 2025 was $122 million, an increase of $16 million, or 15%, compared to the third quarter of 2024. The provision for credit losses for the first nine-month period of 2025 was $340 million, an increase of $27 million, or 9%, compared to the year-ago period. The increase in provision expense in the third quarter of 2025, compared to the third quarter of 2024, and the nine-month period ended September 30, 2025, compared to September 30, 2024, is reflective of loan growth, partially offset by lower reserve coverage.

The following table presents the components of the provision for credit losses.

Table 4 - Provision for Credit LossesThree Months EndedNine Months Ended(dollar amounts in millions)September 30, 2025September 30, 2024September 30, 2025September 30, 2024Provision for loan and lease losses$118 $24 $357 $255 Provision (benefit) for unfunded lending commitments4 82 (14)56 Provision (benefit) for securities— — (3)2 Total provision for credit losses$122 $106 $340 $313 

12     Huntington Bancshares Incorporated

Noninterest Income

The following table reflects noninterest income for each of the periods presented.

Table 5 - Noninterest IncomeThree Months EndedNine Months EndedSeptember 30,September 30,ChangeSeptember 30,September 30,Change(dollar amounts in millions)20252024Percent20252024PercentPayments and cash management revenue$174 $158