Company: HBAN
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000049196-25-000038
Chunk: 63

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 2
Chunk 63
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’ equity for the first quarter of 2025 increased $784 million, or 4%, from the first quarter of 2024, primarily due to earnings, net of dividends, and the benefit from a decrease in average accumulated other comprehensive loss driven by changes in the interest rate environment, partially offset by the fourth quarter 2024 redemption of series E preferred stock.

Provision for Credit Losses

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

The provision for credit losses for the first quarter of 2025 was $115 million, an increase of $8 million, or 7%, compared to the first quarter of 2024. 

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

Table 3 - Provision for Credit LossesThree Months Ended(dollar amounts in millions)March 31, 2025March 31, 2024Provision for loan and lease losses$105 $117 Provision (benefit) for unfunded lending commitments13 (10)Provision (benefit) for securities(3)— Total provision for credit losses$115 $107 

10     Huntington Bancshares Incorporated

Noninterest Income

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

Table 4 - Noninterest IncomeThree Months EndedMarch 31,March 31,Change(dollar amounts in millions)20252024PercentPayments and cash management revenue$155 $146 6 %Wealth and asset management revenue101 88 15 Customer deposit and loan fees86 77 12 Capital markets and advisory fees67 56 20 Mortgage banking income31 31 — Leasing revenue14 22 (36)Insurance income20 19 5 Other noninterest income20 28 (29)Total noninterest income$494 $467 6 %

Noninterest income for the first quarter of 2025 was $494 million, an increase of $27 million, or 6%, from the year-ago quarter. Wealth and asset management revenue increased $13 million, or 15%, primarily due to increases in trust and management account fees. Capital markets and advisory fees increased $11 million, or 20%, primarily due to commercial loan production related capital market activities.

Noninterest Expense

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

Table 5 - Noninterest ExpenseThree Months EndedMarch 31,March 31,Change