Financial Data and Key Metrics Changes - In Q4 2025, earnings per common share was $0.30, with an adjusted EPS of $0.37, reflecting a 9% year-over-year increase [17] - Revenue growth for 2025 was 11%, with adjusted EPS growth of 16% and 290 basis points of positive operating leverage [6][24] - Average loans grew 14.4% year-over-year, with organic loan growth of $10.1 billion, exceeding the $9.5 billion added through the Veritex partnership [17][19] - Average deposits increased 5.1% quarter-over-quarter and 8.6% year-over-year, with core deposits growing $5.5 billion year-over-year [19][20] Business Line Data and Key Metrics Changes - Consumer banking saw a 4% year-over-year increase in primary bank relationships, while business banking grew by 7% [7] - New initiatives contributed $1.8 billion to loan growth, with significant contributions from Texas and North and South Carolina expansions [17] - Fee income businesses grew, with payments up 5%, commercial payment revenues up 8%, and wealth management growing 10% [21][22] Market Data and Key Metrics Changes - The company expanded its consumer and regional banking presence to 21 states, focusing on fast-growing markets [4] - The partnership with Veritex and Cadence is expected to enhance market growth and customer share in Texas and other new markets [15] Company Strategy and Development Direction - The company aims to become the leading people-first, customer-centered bank, leveraging a differentiated operating model [4] - Strategic investments in branch build-out, new commercial verticals, and fintech solutions are designed to enhance long-term growth [8] - The focus remains on organic growth, customer relationship deepening, and expanding wallet share while maintaining a moderate to low-risk profile [5][6] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the sustainability of growth targets, emphasizing the effectiveness of the operating model and recent partnerships [32][34] - The outlook for 2026 includes expectations for net interest income growth of 10% to 13%, supported by loan and deposit growth [27] - Credit quality remains strong, with net charge-offs expected between 25 and 35 basis points, and a stable non-performing asset ratio [26][30] Other Important Information - The company plans to initiate programmatic share repurchases and maintain a strong dividend yield [25] - Investments in technology, including AI, are expected to continue driving growth and efficiency [79] Q&A Session Summary Question: Clarification on expense trajectory and cost savings - Management indicated that underlying expense growth is expected in the mid-single digits, with cost synergies from Veritex and Cadence expected to be realized in 2026 [40][41] Question: Revenue synergies from partnerships - Management highlighted that the partnership model has allowed for quicker decision-making and greater certainty, which is expected to enhance both cost and revenue synergies [44][46] Question: Guidance on first quarter expenses - Management refrained from providing specific quarterly guidance but emphasized the importance of positive operating leverage and continued investment back into the business [52] Question: Credit guidance and deposit beta - Management confirmed that the credit guidance reflects historical performance and that deposit beta is expected to remain in the high 30s to 40% range [86][87] Question: Technology investment details - Management stated that technology investments are focused on customer-facing capabilities and digital marketing, with significant growth expected in these areas [89]

Financial Data and Key Metrics Changes - In Q4 2025, earnings per common share was $0.30, with an adjusted EPS of $0.37, reflecting a 9% year-over-year increase [16][20] - Average loans grew 14.4% year-over-year, with organic loan growth of $10.1 billion, exceeding the $9.5 billion added through the Veritex partnership [16][18] - Average deposits increased 5.1% quarter-over-quarter and 8.6% year-over-year, with core deposits growing $5.5 billion year-over-year [18][19] - Net interest income grew by $86 million, or 5.6% sequentially, representing over 14% growth year-over-year [20] - Adjusted return on tangible common equity (ROTCE) increased by 40 basis points, with tangible book value growing 19% year-over-year [25][26] Business Line Data and Key Metrics Changes - Consumer banking saw a 4% year-over-year increase in primary bank relationships, while business banking grew by 7% [6] - Fee income from payments grew 5%, with commercial payment revenues up 8% year-over-year [21] - Wealth management grew 10%, and capital markets delivered its second strongest revenue quarter, trailing only Q4 2024 [21][22] Market Data and Key Metrics Changes - The company expanded its consumer and regional banking presence to 21 states, focusing on fast-growing markets [4] - The partnerships with Veritex and Cadence are expected to enhance market growth and customer share in Texas and other new markets [14] Company Strategy and Development Direction - The company aims to become the leading people-first, customer-centered bank, leveraging a differentiated operating model [3][4] - Strategic investments in branch expansion, commercial verticals, and fintech solutions are designed to enhance long-term growth [7][8] - The focus remains on organic growth, customer relationship deepening, and maintaining a moderate to low-risk profile [5][6] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining strong growth driven by organic initiatives and recent partnerships [32] - The outlook for 2026 includes expectations for net interest income growth of 10% to 13% and fee revenue growth of 13% to 16% [27][29] - Management anticipates achieving cost synergies from Veritex by Q2 and from Cadence by Q4, contributing to overall profitability [31] Other Important Information - The company plans to initiate programmatic share repurchases and maintain a strong dividend yield [25] - Credit quality remains stable, with net charge-offs at 24 basis points and a criticized asset ratio of 4.2% [26] Q&A Session Summary Question: Clarification on expense trajectory and cost savings - Management indicated that underlying expense growth is expected in the mid-single digits, with positive operating leverage anticipated [40][41] Question: Partnership approach and revenue synergies - The partnership model has allowed for quicker decision-making and greater certainty for employees, enhancing the potential for cost and revenue synergies [42][45] Question: Guidance on first quarter expenses - Management refrained from providing specific quarterly guidance but emphasized the importance of positive operating leverage [48] Question: Revenue-producing initiatives and fee guidance - Very little of the revenue synergies are included in the current guidance, with more details expected in future updates [50][51] Question: Investment in technology and AI - Investments in technology, including AI, are expected to continue growing, supporting customer acquisition and operational efficiency [68]

分组1 - Huntington Bancshares reported quarterly earnings of $0.37 per share, missing the Zacks Consensus Estimate of $0.39 per share, but showing an increase from $0.34 per share a year ago, resulting in an earnings surprise of -4.86% [1] - The company posted revenues of $2.19 billion for the quarter ended December 2025, which was below the Zacks Consensus Estimate by 0.19%, but an increase from $1.97 billion year-over-year [2] - Over the last four quarters, Huntington Bancshares has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] 分组2 - The stock has gained approximately 8.2% since the beginning of the year, outperforming the S&P 500's gain of 0.4% [3] - The current consensus EPS estimate for the upcoming quarter is $0.37 on revenues of $2.17 billion, and for the current fiscal year, it is $1.69 on revenues of $9.04 billion [7] - The Zacks Industry Rank for Banks - Midwest is currently in the bottom 31% of over 250 Zacks industries, indicating potential challenges for the sector [8]

2025 Fourth Quarter Earnings Review January 22, 2026 Welcome. The Huntington National Bank is Member FDIC. ®, Huntington® and Huntington. are federally registered service marks of Huntington Bancshares Incorporated. ©2026 Huntington Bancshares Incorporated. Abundant Green R: 126 G: 207 B: 28 Dark Teal R: 3 G: 79 B: 84 Pastel Teal R: 184 G: 239 B: 228 Pastel Magenta R: 248 G: 224 B: 229 White R: 255 G: 255 B: 255 Prosperous Sage R: 0 G: 45 B: 42 Primary Palette Off-White R: 245 G: 245 B: 245 Second Palette H ...

Exhibit 99.2 HUNTINGTON BANCSHARES INCORPORATED Quarterly Financial Supplement December 31, 2025 Table of Contents | Quarterly Key Statistics | 1 | | --- | --- | | Annual Key Statistics | 2 | | Consolidated Balance Sheets | 4 | | Loans and Leases Composition | 5 | | Deposits Composition | 6 | | Consolidated Quarterly Average Balance Sheets | 7 | | Consolidated Quarterly Net Interest Margin - Interest Income / Expense | 8 | | Consolidated Quarterly Net Interest Margin - Yield / Rate | 9 | | Selected Quarterl ...

Core Insights - Huntington Bancshares Incorporated reported a net income of $519 million for the fourth quarter of 2025, reflecting a decrease of 17% from the previous quarter and a 2% decrease from the same quarter last year, impacted by $130 million in acquisition-related expenses [2][4] - The company achieved a return on average assets of 0.93%, a return on average common equity of 8.9%, and a return on average tangible common equity of 12.7% [3] - The CEO highlighted strong execution and broad-based organic growth, with strategic advancements in commercial verticals, payments, wealth, and capital markets capabilities [4][6] Financial Performance - Earnings per common share (EPS) for the quarter was $0.30, down $0.11 from the prior quarter and $0.04 from the year-ago quarter; adjusted EPS was $0.37, down $0.03 from the prior quarter but up $0.03 from the year-ago quarter [5] - Net interest income increased by $86 million (6%) from the prior quarter and $197 million (14%) from the year-ago quarter [5] - Noninterest income decreased by $46 million (7%) from the prior quarter but increased by $23 million (4%) from the year-ago quarter [5] Loan and Deposit Growth - Average total loans and leases rose by $10.7 billion (8%) from the prior quarter and $18.4 billion (14%) from the year-ago quarter, influenced by the Veritex acquisition [5] - Average commercial loans grew by $9.5 billion (12%) from the prior quarter and $15.3 billion (21%) from the year-ago quarter [5] - Average total deposits increased by $8.3 billion (5%) from the prior quarter and $13.8 billion (9%) from the year-ago quarter, also reflecting the impact of the Veritex acquisition [5] Credit Quality - Net charge-offs were 0.24% of average total loans and leases, slightly higher than the prior quarter but lower than the year-ago quarter [5] - The nonperforming asset ratio was 0.63% at quarter end, up 3 basis points from the prior quarter [5] - The allowance for credit losses was $2.7 billion (1.83% of total loans and leases), an increase of $181 million from the prior quarter [5] Capital Ratios - The Common Equity Tier 1 (CET1) risk-based capital ratio was 10.4% at the end of December 2025, down from 10.6% in the prior quarter [5] - The tangible common equity (TCE) ratio improved to 7.1%, up from 6.8% in the prior quarter and 6.1% from a year ago [5] - Tangible book value per share increased to $9.89, reflecting a rise of $0.35 (4%) from the prior quarter and $1.56 (19%) from the year-ago quarter [5] Strategic Partnerships - Huntington closed its partnership with Veritex Holdings, Inc. on January 19, 2026, and is anticipating the closing of a partnership with Cadence Bank on February 1, 2026 [5][6] - The CEO emphasized that these partnerships will enhance growth in Texas and the South, with successful integration processes underway [6]

Huntington Bancshares (NASDAQ:HBAN) is one of the stocks Jim Cramer recently looked at. During the lightning round, a caller sought Cramer’s opinion on the stock, and he replied: They always come through. They’re terrific. I’m going to give you a twofer. I also like Key. They are terrific, too. Photo by Artem Podrez on Pexels Huntington Bancshares (NASDAQ:HBAN) provides banking and financial services, including consumer and business lending, deposits, payments, and wealth management. Additionally, the ...

Core Insights - Huntington Bancshares Incorporated (NASDAQ:HBAN) is identified as one of the best undervalued wide moat stocks [1] - RBC Capital has raised its price target for HBAN from $20.00 to $21.00, maintaining an 'Outperform' rating due to stable regional bank fundamentals and a positive outlook for Q4 earnings [2] - The merger between Huntington Bancshares and Cadence Bank is set to close on February 1, 2026, which is expected to enhance capabilities and shareholder value [2] Company Developments - The merger approval by shareholders of both Huntington Bancshares and Cadence Bank is a significant milestone, with expectations of synergies and expanded reach [2] - Cadence CEO James D. Rollins III emphasized the relationship-focused philosophies of both banks and the opportunities the merger presents for customers [2] - Huntington Bancshares provides a range of services including consumer and commercial banking, deposits, lending, payments, and wealth management [2] Market Outlook - The investment firm RBC Capital believes that strengthening loan and revenue growth will be key drivers for HBAN, contributing to a stable outlook for the banking sector compared to the previous quarter [2] - Despite the potential of HBAN as an investment, there is a suggestion that certain AI stocks may offer greater upside potential with less downside risk [2]

Core Viewpoint - Huntington Bancshares Incorporated (HBAN) is expected to report an increase in fourth-quarter and full-year 2025 revenues and earnings year over year, with key factors including improvements in net interest income and fee income, although rising non-interest expenses may pose challenges [1][9]. Recent Developments - HBAN received shareholder approval for its $7.4 billion all-stock acquisition of Cadence Bank, anticipated to close on February 1, 2026, which will expand its presence in the southern United States [3]. - The company completed a $1.9 billion all-stock merger with Veritex Holdings in October 2025, enhancing its footprint in Texas markets and raising its 2025 net interest income growth outlook to 10%-11% from 8%-9% [4]. Q4 Performance Factors - Loans & NII: The Federal Reserve's interest rate cuts are expected to support HBAN's net interest income, with a Zacks Consensus Estimate of $1.61 billion, reflecting an 8.6% increase from the previous quarter [6]. - Average total earnings assets are estimated at $203.1 billion, indicating a 5.4% rise from the prior quarter [7]. - Non-Interest Income: Mortgage banking income is projected at $35.5 million, a 17.4% decline from the previous quarter due to stagnant refinancing and origination activity [8]. - Capital markets and advisory fees are expected to rise to $104.3 million, a 10.9% sequential increase, while total non-interest income is estimated at $601.8 million, indicating a 4.2% decline from the prior quarter [11][12]. Expense and Asset Quality - Higher expenses are anticipated due to increased costs from data processing, marketing, and branch expansions, despite some efficiency initiatives [13]. - The Zacks Consensus Estimate for total non-accrual loans is $896 million, a 10.9% increase from the prior quarter, indicating potential asset quality concerns [15]. Earnings Estimates - The consensus estimate for HBAN's fourth-quarter earnings is 39 cents per share, suggesting a 14.7% rise year over year, with revenues projected at $2.2 billion, reflecting a 12.3% year-over-year increase [17]. 2025 Outlook - Average loans are expected to grow by 8% standalone and 9%-9.5% including Veritex, while average deposits are projected to increase by 5.5% standalone and 6.5%-7% including Veritex [18][19]. - Net interest income is anticipated to rise by 10%-11% year over year, with adjusted non-interest income expected to grow by 7% [19].

Core Viewpoint - The article discusses the potential of undervalued wide moat stocks as U.S. markets transition into 2026, highlighting a shift in macroeconomic conditions that may favor small-cap stocks due to expected earnings growth and easing interest rates [1][2]. Market Outlook - Analysts predict two 25-basis-point rate cuts by the Federal Reserve in 2026, which could benefit small-cap companies with high debt levels [3]. - The Russell 2000 index is expected to rise to 2,825 by the end of 2026, indicating a projected gain of approximately 14% from 2025 levels [3]. Sector Analysis - Healthcare and financial sectors are identified as key beneficiaries of favorable policies, M&A activity, and AI-related efficiency improvements [5]. - The banking segment is projected to outperform in 2026, prompting investors to seek stocks with strong fundamentals and competitive positioning [5]. Investment Methodology - The analysis utilizes the VanEck Morningstar Wide Moat ETF to identify undervalued stocks, filtering for those trading at least 25% below the S&P 500's forward P/E of 22.34 as of January 16, 2026 [7]. - Hedge fund sentiment is considered, with a focus on stocks held by a significant number of hedge funds, as this strategy has historically outperformed the market [8]. Company Highlights - **Zimmer Biomet Holdings, Inc. (NYSE:ZBH)**: - Forward P/E of 10.27x with 35 hedge fund holders; cautious expectations for 2026 were communicated at the J.P. Morgan Healthcare Conference [10][11]. - Management revised 2025 organic revenue growth forecast down to 4.00% from 4.50% due to weaker demand in certain regions, but overall revenue growth estimates remained stable [12]. - **Huntington Bancshares Incorporated (NASDAQ:HBAN)**: - Forward P/E of 10.60x with 42 hedge fund holders; RBC Capital raised its price target from $20.00 to $21.00, citing stable fundamentals and a positive outlook [15][16]. - The company is set to merge with Cadence Bank, expected to enhance capabilities and shareholder value [17]. - **Masco Corporation (NYSE:MAS)**: - Forward P/E of 16.67x with 44 hedge fund holders; Wells Fargo raised its price target from $75.00 to $78.00, while RBC Capital lowered its target from $69.00 to $67.00, reflecting mixed outlooks in the building products sector [19][20][21].