Huntington(HBAN) - 2025 Q1 - Quarterly Results

Financial Performance - Net interest income for Q1 2025 was $1,426 million, an increase of 11$527 million, a slight decrease of 1% from $530 million in Q4 2024, but a 26$419 million in Q1 2024[9] - Total revenue on a fully-taxable equivalent basis for Q1 2025 was $1,935 million, compared to$1,767 million in Q1 2024, indicating a 9.5% increase year-over-year[23] - Net interest income for the quarter was $1,441 million, showing an increase from$1,409 million in the previous quarter and $1,300 million a year ago[19] - Total equity remained stable at$20,045 million, with no significant change from the previous quarter but a 4% increase year-over-year[17] - Total Huntington shareholders' equity rose to $20,434 million in Q1 2025, up from$19,322 million in Q1 2024, representing an increase of 5.8%[37] Asset and Liability Management - Average total assets increased by 2% to $205,087 million compared to Q4 2024, and by 8$209,596 million, reflecting a 3% increase from $204,230 million at the end of Q4 2024[13] - Total liabilities increased to$185,042 million, reflecting a 2% increase from the previous quarter and an 8% increase year-over-year[17] - Total risk-weighted assets (RWA) were $144,632 million as of March 31, 2025, compared to$143,650 million at December 31, 2024, reflecting a rise of 0.7%[33] Loan and Deposit Growth - Total loans and leases increased to $132,505 million in Q1 2025, up from$130,042 million in Q4 2024, representing a growth of 1.89%[15] - Total deposits rose to $165,337 million in Q1 2025, an increase from$162,448 million in Q4 2024, reflecting a growth of 1.09%[16] - Commercial and industrial loans reached $58,948 million, accounting for 45$56,809 million and 43% in the previous quarter[15] - Consumer & Regional Banking segment accounted for $72,653 million in loans, which is 55$72,051 million in Q4 2024[15] Credit Quality and Loss Provisions - Provision for credit losses was $115 million, up 7$107 million in both Q4 2024 and Q1 2024[9] - Total allowance for credit losses increased to $2,478 million, up from$2,446 million in the previous quarter[27] - Net charge-offs for the quarter were $86 million, down from$97 million in the previous quarter[28] - Nonperforming assets (NPAs) increased to 281 million, up from 273 million in the previous quarter[27] Capital Ratios and Shareholder Returns - The common equity tier 1 risk-based capital ratio was 10.6%, up from 10.5% in Q4 2024[9] - Total risk-based capital increased to $20,720 million as of March 31, 2025, compared to$20,565 million at December 31, 2024, reflecting a growth of 0.8%[33] - Cash dividends declared remained steady at $0.155 per share for Q1 2025, unchanged from the previous quarters, reflecting consistent shareholder returns[23] Operational Efficiency - The efficiency ratio improved to 58.9%, compared to 58.6% in Q4 2024, indicating better cost management[9] - The total cost of deposits decreased to 2.03% in Q1 2025 from 2.29% in Q1 2024, reflecting improved deposit management[21] Employee and Branch Metrics - The number of employees averaged 20,092 in Q1 2025, up from 19,719 in Q1 2024, indicating a growth of 1.9%[37] - The number of domestic full-service branches decreased to 968 in Q1 2025 from 969 in Q1 2024[38] - ATM count decreased to 1,560 in Q1 2025 from 1,606 in Q1 2024[37]