Company: HBAN
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000049196-25-000020
Chunk: 231

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 231
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COs as a % of average loans and leases0.31 %0.24 %0.07 %29 0.19 %Total assets under management (in billions)—eop$34.0 $29.0 $5.0 17 $26.1 Total trust assets (in billions)—eop198.7 172.2 26.5 15 135.7 

Consumer & Regional Banking reported net income of $1.5 billion in 2024, an increase of $197 million, or 15%, compared to the year-ago period. Segment net interest income increased $353 million, or 9%, primarily due to a $3.8 billion, or 6%, increase in average loans and leases and an 18 basis point increase in NIM. The provision for credit losses increased $38 million, or 15%, driven by a combination of current year loan and lease growth and increased charge off activity, largely offset by a modest reduction in overall coverage ratios. Noninterest income increased $44 million, or 4%, primarily due to increases in wealth and asset management revenue, reflecting higher assets under management, payments and cash management revenue, reflecting higher card transaction revenue, customer deposit and loan fees, and mortgage banking income, partially offset by a $57 million gain on the sale of our RPS business recognized during 2023. Noninterest expense increased $109 million, or 4%, driven by an increase in corporate allocations. 

84     Huntington Bancshares Incorporated

Table of Contents

Commercial Banking

Table 27 - Key Performance Indicators for Commercial Banking Year Ended December 31,Change from 2023Year Ended December 31,(dollar amounts in millions unless otherwise noted)20242023AmountPercent2022Net interest income$2,123 $2,162 $(39)(2)%$1,807 Provision for credit losses136 156 (20)(13)29 Net interest income after provision for credit losses1,987 2,006 (19)(1)1,778 Noninterest income716 646 70 11 667 Noninterest expense:Direct personnel costs607 502 105 21 444 Other noninterest expense, including corporate allocations611 632 (21)(3)612 Total noninterest expense1,218 1,134 84 7 1,056 Income before income taxes1,485 1,