COLUMBUS, Ohio – Huntington Bancshares Inc. on Friday reported net income of $536 million for the second quarter.

The net income represented an increase of $9 million, or 2%, from the prior quarter and an increase of $62 million from the same quarter a year ago.

Huntington’s second quarter earnings per common share was 34 cents, unchanged from the prior quarter and 4 cents higher than a year ago.

“Our second quarter results reflect the ongoing successful execution of our organic growth strategy,” said Steve Steinour, chairman, president and CEO of Huntington. “We are acquiring new customers, deepening relationships and expanding both net interest income and fee-based revenue through the strength of our product suite and capabilities.”

Steinour touted Huntington’s well-diversified loan portfolio, loan and deposit growth of about $10 billion over the past year and commercial specialty banking results, as well as continued expansion of markets in North Carolina, South Carolina and Texas.

Net interest income increased $41 million from the prior quarter and $155 million, or 12%, from a year ago, while noninterest income decreased by 5% from the prior quarter and $20 million from a year ago. Excluding the loss on the repositioning of securities and impact of credit risk transfer transactions, Huntington’s noninterest income increased $37 million, or 7%, from the prior quarter and $34 million from a year ago.

Other highlights include:

  • Average total loans and leases increased $2.3 billion, with average commercial loan growth at $1.6 billion and average consumer loan growth at $725 million.
  • Average total deposits increased $1.8 billion.
  • Net charge-offs were 0.20% of average total loans and leases, while nonperforming assets ratio was 0.63% at the end of the quarter.

“Credit continues to perform well, demonstrated by improved net charge-offs and stable levels of criticized and nonperforming assets,” Steinour said. “This is evidence of our disciplined credit risk management and client selection. We remain confident in our ability to execute our strategy and sustain strong growth, while maintaining our disciplined approach to risk management. We have never been better positioned.”

The full report can be viewed HERE.