HUNTINGTON BANCSHARES INC MD
For the period ended Mar 31, 2024. Filed Apr 30, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed Apr 30, 2024
Contents
Segment Reporting
- SEGMENT REPORTING
Huntington’s business segments are based on our internally-aligned segment leadership structure, which is how management monitors results and assesses performance. During the second quarter of 2023, we completed an organizational realignment and now report ontwo business segments: Consumer & Regional Banking and Commercial Banking. The Treasury / Other function includes technology and operations, other unallocated assets, liabilities, revenue, and expense. For a description of our business segments, see Note 25 - “Segment Reporting” to the Consolidated Financial Statements appearing in Huntington’s 2023 Annual Report on Form 10-K. Prior period results have been adjusted to conform to the current presentation.
Listed in the following tables is certain operating basis financial information reconciled to Huntington’s, reported results by business segment.
| Income Statements | Consumer & Regional Banking | Commercial Banking | Treasury / Other | Huntington Consolidated |
|---|---|---|---|---|
| (dollar amounts in millions) | ||||
| Net interest income (loss) | $956 | $523 | $(192) | $1,287 |
| Provision for credit losses | 46 | 61 | — | 107 |
| Noninterest income | 308 | 145 | 14 | 467 |
| Noninterest expense | 777 | 294 | 66 | 1,137 |
| Provision (benefit) for income taxes | 93 | 66 | (73) | 86 |
| Income attributable to non-controlling interest | — | 5 | — | 5 |
| Net income (loss) attributable to Huntington | $348 | $242 | $(171) | $419 |
| Net interest income | $871 | $541 | $(3) | $1,409 |
| Provision for credit losses | 46 | 39 | — | 85 |
| Noninterest income | 344 | 156 | 12 | 512 |
| Noninterest expense | 754 | 278 | 54 | 1,086 |
| Provision (benefit) for income taxes | 87 | 80 | (23) | 144 |
| Income attributable to non-controlling interest | — | 4 | — | 4 |
| Net income (loss) attributable to Huntington | $328 | $296 | $(22) | $602 |
| Assets | Deposits | |||
|---|---|---|---|---|
| (dollar amounts in millions) | At March 31, 2024 | At December 31, 2023 | At March 31, 2024 | At December 31, 2023 |
| Consumer & Regional Banking | $73,340 | $73,082 | $112,032 | $110,157 |
| Commercial Banking | 63,365 | 63,377 | 35,619 | 35,466 |
| Treasury / Other | 56,814 | 52,909 | 5,574 | 5,607 |
| Total | $193,519 | $189,368 | $153,225 | $151,230 |
2024 1Q Form 10-Q 73
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