Company: HBAN
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000049196-25-000020
Chunk: 172

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 172
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 %1.04 %1.25 %Return on average common shareholders’ equity10.411.213.2Return on average tangible common shareholders’ equity (1)15.717.620.7Net interest margin (2)3.003.193.25Efficiency ratio (3)60.561.056.9Revenue and Net Interest Income—FTE (Non-GAAP)Net interest income$5,345$(94)(2)%$5,439$166 3 %$5,273FTE adjustment (2)5311 26 4211 35 31Net interest income, FTE (non-GAAP)(2)5,398(83)(2)5,481177 3 5,304Noninterest income2,040119 6 1,921(60)(3)1,981Total revenue, FTE (non-GAAP)(2)$7,438$36 — %$7,402$117 2 %$7,285

(1)    Net income applicable to common shares excluding expense for amortization of intangibles for the period divided by average tangible common shareholders’ equity. Average tangible common shareholders’ equity equals average total common shareholders’ equity less average intangible assets and goodwill. Expense for amortization of intangibles and average assets are net of deferred tax liability and calculated assuming a 21% tax rate.

(2)    On an FTE basis assuming a 21% tax rate.

(3)    Noninterest expense less amortization of intangibles divided by the sum of FTE net interest income and noninterest income excluding securities gains.

2024 Form 10-K     47

Table of Contents

Summary of Results

In 2024, we reported net income of $1.9 billion, or $1.22 per diluted common share, compared with net income in 2023 of $2.0 billion, or $1.24 per diluted common share. The current year reported net income was negatively impacted by additional expense attributable to the FDIC DIF special assessment totaling $28 million, or $23 million after tax ($0.02 per common share), and $20 million, or $16 million after tax ($0.01 per common share), of expense from staffing efficiencies and corporate real estate consolidation expense. The prior year’s reported net income was negatively impacted by the initial recognition of the FDIC DIF special assessment totaling $214 million,