COLUMBUS, Ohio – Huntington Bancshares Inc. on Thursday reported a net income of $527 million, or 34 cents per common share, in the first quarter of 2025, a decrease of $3 million from the prior quarter and an increase of $108 million, or 26%, from the year-ago quarter.  

Earnings per common share for the quarter was 34 cents, unchanged from the prior quarter, and 8 cents higher than the year-ago quarter. Excluding the after-tax impact of notable items, earnings per common share was 6 cents higher than the year-ago quarter.

Net interest income increased $31 million, or 2%, from the prior quarter, and $139 million, or 11%, from the year-ago quarter.

Return on average assets was 1.04%; return on average common equity was 11.3%; and return on average tangible common equity was 16.7%.

“Our first quarter results were highlighted by continued profit growth driven by increased loans and deposits, expanded net interest margin, growth of fee revenues and rigorous expense management,” said Steve Steinour, chairman, president and CEO of Huntington. “Our outlook for the year remains positive as our organic growth continues to significantly outpace our peer group driven by both our existing businesses and new initiatives. Our teams are executing exceptionally well as we manage overall funding costs lower and drive fee revenues higher. While we closely monitor the external environment, we are very well positioned to operate across a range of potential economic scenarios.”

Other highlights:

  • Total deposit costs were 2.03%, down 13 basis points from the prior quarter.
  • Noninterest income decreased $65 million, or 12%, from the prior quarter, to $494 million. From the year-ago quarter, noninterest income increased $27 million, or 6%.
  • Average total loans and leases increased $2.7 billion, or 2%, from the prior quarter to $130.9 billion, and increased $8.9 billion, or 7%, from the year-ago quarter.
  • Average total deposits increased $2.2 billion, or 1%, from the prior quarter and $10.9 billion, or 7%, from the year-ago quarter.

The full report can be viewed HERE.