Huntington Bancshares ( (HBAN) ) has released its Q4 earnings. Here is a breakdown of the information Huntington Bancshares presented to its investors.
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Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio, providing a wide range of banking and financial services across 12 states through its 978 branches.
In its 2024 fourth-quarter earnings report, Huntington Bancshares highlighted record fees and loan growth, along with sustained deposit growth and an increase in net interest income. The company reported net income of $530 million, with earnings per share of $0.34, marking an improvement from previous quarters.
Key financial metrics from the report include a 3% increase in net interest income from the prior quarter and a 6% rise from the year-ago quarter. Total deposits grew by 2% from the previous quarter, while average total loans and leases expanded by 3%. Noninterest income also saw significant growth, climbing 7% from the previous quarter and 38% compared to the same quarter last year. Additionally, the company maintained a stable credit environment, with net charge-offs at 0.30% of average total loans and a nonperforming asset ratio of 0.63%.
Looking ahead, Huntington Bancshares remains optimistic about sustaining its growth trajectory. The company plans to leverage its strong liquidity, capital, and credit position, as well as its strategic investments in new geographies and commercial verticals, to drive continued revenue growth beyond 2025.
