Huntington Bancshares Incorporated Reports 2026 First-Quarter Earnings

Rhea-AI Summary

Huntington Bancshares (Nasdaq: HBAN) reported 2026 Q1 net income of $523 million and EPS of $0.25. Adjusted EPS was $0.37. Average loans were $174.2 billion (up 19% QoQ) and average deposits rose 18% QoQ. Net interest income increased 19% QoQ. CET1 was 10.2%; allowance for credit losses was $3.4 billion. The company completed Veritex conversion, closed Cadence partnership, repurchased $150M in Q1 and the board approved a $3 billion repurchase authorization.

Positive

• Net income of $523 million in Q1 2026
• Adjusted EPS of $0.37, up $0.03 YoY
• Net interest income +19% QoQ (+33% YoY)
• Average total loans $174.2 billion, +19% QoQ
• Average deposits up 18% QoQ
• Board-approved $3.0 billion share repurchase authorization

Negative

• GAAP EPS $0.25, down $0.05 QoQ and $0.09 YoY
• CET1 ratio fell to 10.2% at March 31, 2026
• Tangible book value per share declined 3% QoQ to $9.55
• Pre-tax Notable Items of $271 million in Q1
• Allowance for credit losses increased $625 million QoQ to $3.4 billion

News Market Reaction – HBAN

+0.06%

+0.06% Session close to close

In the Apr 23 session, HBAN gained 0.06%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement highlights mixed but generally constructive Q1 2026 results: GAAP EPS of $0.25 fel...

Analysis

This announcement highlights mixed but generally constructive Q1 2026 results: GAAP EPS of $0.25 fell year-on-year, but adjusted EPS held at $0.37 with strong net interest income and broad-based loan and deposit growth. Credit quality metrics, including net charge-offs and the ACL level, frame risk management, while a 10.2% CET1 ratio and a new $3 billion repurchase authorization underscore capital deployment. Investors may watch integration progress for Cadence and Veritex and trends in asset quality and profitability metrics across 2026.

Key Figures

EPS (GAAP): $0.25 Adjusted EPS: $0.37 Net income: $523 million +5 more

8 metrics

EPS (GAAP) $0.25 Q1 2026; $0.05 lower QoQ and $0.09 lower YoY

Adjusted EPS $0.37 Q1 2026; unchanged QoQ, $0.03 higher YoY (ex-Notable Items)

Net income $523 million Q1 2026; up 1% QoQ, down 1% YoY, includes Notable Items

Net interest income change $299 million (19%) Increase from prior quarter in Q1 2026

Avg total loans & leases $174.2 billion Q1 2026; +$27.6B (19%) QoQ; +$43.4B (33%) YoY

Avg total deposits Increase $31.5 billion (18%) Q1 2026 vs prior quarter; +$43.0B (27%) YoY

CET1 ratio 10.2% At March 31, 2026; down from 10.4% prior quarter end

Share repurchase authorization $3 billion Board-approved authorization on April 22, 2026, replacing prior program

Historical Context

5 past events · Latest: Apr 21 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Apr 21	Market expansion	Positive	-0.3%	Announced commercial banking expansion into Austin and central Texas via acquisitions.
Apr 15	Earnings logistics	Neutral	-0.6%	Released timing and access details for the Q1 2026 earnings call.
Apr 15	Industry M&A report	Neutral	+0.5%	Capstone report on middle-market M&A valuations and leverage trends.
Apr 06	Brand partnership	Positive	+0.9%	Named Official Consumer Bank of the University of Michigan with campus benefits.
Mar 31	Tech platform deal	Positive	+4.2%	Selected SEI Wealth Platform to unify private bank wealth systems and data.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent company-specific news has generally aligned with modest positive price reactions, with only the Texas expansion headline showing a small divergence.

Recent Company History

Over the past month, Huntington’s news flow has focused on strategic expansion and partnerships. On Mar 31, it selected the SEI Wealth Platform to modernize wealth operations, followed on Apr 6 by becoming the Official Consumer Bank of the University of Michigan, which saw the strongest positive reaction of about 4.19% and 0.95%, respectively. Expansion into Austin and central Texas on Apr 21 slightly coincided with a small negative move. Today’s earnings update builds on that growth narrative with detailed financial performance.

Key Terms

net charge-offs, nonperforming asset ratio, allowance for credit losses, common equity tier 1 (cet1), +4 more

8 terms

net charge-offs financial

"Net charge-offs of 0.26% of average total loans and leases for the quarter"

Net charge-offs are the amount of loans or credit a lender removes from its books as uncollectible after subtracting any money later recovered from previously written-off accounts. Think of it like a store writing off unpaid tabs but getting back a few dollars later — the net figure shows the real loss. Investors watch this to judge a lender’s loan quality, future profits and how much capital may be needed to cover bad debts.

nonperforming asset ratio financial

"Nonperforming asset ratio of 0.72% at quarter end, 9 basis points higher"

The nonperforming asset ratio measures the share of a lender’s loans or assets that aren’t earning interest because borrowers have stopped making required payments or the assets are in default. Think of it like the portion of a car rental fleet that’s broken and not generating rental income: a higher ratio signals more trouble and possible losses, so investors watch it to judge a bank’s credit quality, profitability risk, and need for reserves.

allowance for credit losses financial

"Allowance for credit losses (ACL) of $3.4 billion, or 1.78% of total loans"

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

common equity tier 1 (cet1) financial

"Common Equity Tier 1 (CET1) risk-based capital ratio was 10.2%"

Common equity tier 1 (CET1) is the core capital of a bank made up of ordinary shares and retained profits that can absorb losses without the bank needing to borrow or cut customer services. Investors watch CET1 as a safety cushion indicator: higher CET1 means a bank is better able to withstand bad losses and maintain payouts, while a falling CET1 can signal higher risk or the need for new capital.

tangible common equity (tce) ratio financial

"Tangible common equity (TCE) ratio of 7.0%, down slightly from the prior"

Tangible common equity (TCE) ratio measures how much real, loss‑absorbing capital common shareholders have compared with a company’s tangible assets — that is, assets you could sell for cash after removing intangible items like goodwill and patents and after excluding preferred equity. For investors it’s a straightforward ‘safety cushion’ metric: a higher TCE ratio means more plain‑cash backing per dollar of tangible assets and therefore greater ability to withstand losses and protect common shareholders’ value.

tangible book value per share financial

"Tangible book value per share of $9.55, down $0.34, or 3%,"

Tangible book value per share is the company's total physical and financial assets minus its liabilities and intangible items (like goodwill and brand value), divided by the number of outstanding shares. It gives investors a conservative, per‑share estimate of what would remain if the business sold only its hard assets and paid its debts—useful for judging whether a stock is priced above or below its underlying, tangible worth, like valuing a property by its bricks and cash rather than its reputation.

return on average assets financial

"Return on average assets was 0.81%, return on average common equity"

Return on average assets (ROAA) measures how efficiently a company turns its assets into profit by comparing profit after expenses to the average value of its assets over a period (usually the average of beginning and ending assets). It matters to investors because it shows how well management uses the company’s resources to generate returns—think of it as how much profit a baker earns from the oven space they actually used over time.

return on average tangible common equity (rotce) financial

"return on average tangible common equity (ROTCE) was 11.6% for the quarter"

Return on average tangible common equity (ROTCE) measures how much profit a company generates for ordinary shareholders relative to the average amount of their tangible capital—equity after removing goodwill and other intangible items. For investors it shows how efficiently the company uses the concrete, balance-sheet value that could realistically back future dividends or growth, similar to measuring how well a baker turns physical ingredients into loaves rather than valuing the shop’s brand name.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Huntington Delivers Strong Start to 2026, Driven by Strong Organic Growth, and Excellent Credit Performance

2026 First-Quarter Highlights:

• Earnings per common share (EPS) for the quarter was $0.25, lower by $0.05 from the prior quarter, and $0.09 lower than the year-ago quarter. Excluding the after-tax impact of Notable Items as detailed in Table 2, adjusted EPS, a non-GAAP measure, was $0.37, unchanged from the prior quarter and higher by $0.03 from the year-ago quarter.
• Successfully completed the systems conversion of Veritex Holdings, Inc. ("Veritex") in Mid-January.
• Closed the partnership with Cadence Bank ("Cadence") on February 1, 2026; integration expected to be completed in the second quarter of 2026.
• Net interest income increased $299 million, or 19%, from the prior quarter, and $465 million, or 33%, from the year-ago quarter. 
• Noninterest income increased $100 million, or 17%, from the prior quarter, to $682 million. From the year-ago quarter, noninterest income increased $188 million, or 38%.  
• Average total loans and leases increased $27.6 billion, or 19%, from the prior quarter to $174.2 billion and increased $43.4 billion, or 33%, from the year-ago quarter, inclusive of the impact of the Cadence and Veritex acquisitions.
  • Average commercial loans grew $20.9 billion, or 24%, from the prior quarter and $34.0 billion, or 46%, from the year-ago quarter.
  • Average consumer loans grew $6.7 billion, or 11%, from the prior quarter and $9.3 billion, or 16%, from the year-ago quarter.
• Average total deposits increased $31.5 billion, or 18%, from the prior quarter and $43.0 billion, or 27%, from the year-ago quarter, inclusive of the impact of the Cadence and Veritex acquisitions. 
• Net charge-offs of 0.26% of average total loans and leases for the quarter, 2 basis points higher than the prior quarter and unchanged from the year ago quarter.
• Nonperforming asset ratio of 0.72% at quarter end, 9 basis points higher than the prior quarter.
• Allowance for credit losses (ACL) of $3.4 billion, or 1.78% of total loans and leases, at quarter end, an increase of $625 million from the prior quarter, with the increase primarily driven by the Cadence acquisition.
• Common Equity Tier 1 (CET1) risk-based capital ratio was 10.2%, at March 31, 2026, compared to 10.4% at the prior quarter end. Adjusted Common Equity Tier 1, including the impact of AOCI, excluding cash flow hedges, was 9.2%, unchanged from the prior quarter end.
• Tangible common equity (TCE) ratio of 7.0%, down slightly from the prior quarter end and up from 6.3% a year ago.
• Tangible book value per share of $9.55, down $0.34, or 3%, from the prior quarter and up $0.75, or 9%, from a year ago. 
• Repurchased $150 million of common shares in the first quarter and an additional $100 million quarter‑to‑date in the second quarter, representing approximately 13 million shares repurchased year‑to‑date.
• On April 22, 2026, the Board of Directors approved a $3 billion share repurchase authorization, replacing the prior authorization.

COLUMBUS, Ohio, April 23, 2026 /PRNewswire/ -- Huntington Bancshares Incorporated (Nasdaq: HBAN) reported net income for the 2026 first quarter of $523 million, or $0.25 per common share, an increase of $4 million, or 1%, from the prior quarter, and a decrease of $4 million, or 1%, from the year-ago quarter, inclusive of $271 million of pre-tax Notable Items in the 2026 first quarter, primarily due to acquisition-related expenses. 

Return on average assets was 0.81%, return on average common equity was 7.2%, and return on average tangible common equity (ROTCE) was 11.6% for the quarter.

CEO Commentary:

"Coming off a transformational year in 2025, Huntington delivered a strong start to 2026 through disciplined execution and continued organic growth," said Steve Steinour, chairman, president, and CEO. "Our core is performing very well, our credit remains strong, and we are driving toward our committed expense and revenue synergies from our Veritex and Cadence partnerships."

"With Veritex now fully integrated, we are on schedule for a Cadence conversion in June. The strong engagement we have had from the Cadence teams will help deliver a successful conversion experience for customers. Both partnerships are already delivering growth opportunities across Texas and the South, and we expect further growth for years to come."

"As we continue to navigate a period of relative economic uncertainty, our strong balance sheet and industry leading liquidity and reserves position us to be a source of strength for our customers and outperformance for our shareholders."

"Our differentiated super regional model, which combines national capabilities with local delivery, helps us deliver durable earnings generation, tangible book value expansion, and attractive financial returns over the long-term."

Conference Call / Webcast Information

Huntington's senior management will host an earnings conference call on April 23, 2026, at 9:00 a.m. (Eastern Time). The call may be accessed via a live Internet webcast at the Investor Relations section of Huntington's website, www.huntington.com, or through a dial-in telephone number at (877) 407-8029; Conference ID #13759583. Slides will be available in the Investor Relations section of Huntington's website about an hour prior to the call. A replay of the webcast will be archived in the Investor Relations section of Huntington's website. A telephone replay will be available approximately two hours after the completion of the call through May 1, 2026 at (877) 660-6853 or (201) 612-7415; conference ID #13759583.

Please see the 2026 First Quarter Quarterly Financial Supplement for additional detailed financial performance metrics. This document can be found on the Investor Relations section of Huntington's website, http://www.huntington.com.

About Huntington

Huntington Bancshares Incorporated is a $285 billion asset regional bank holding company headquartered in Columbus, Ohio. Founded in 1866, The Huntington National Bank and its affiliates provide consumers, small and middle‐market businesses, corporations, municipalities, and other organizations with a comprehensive suite of banking, payments, wealth management, and risk management products and services. Huntington operates over 1,400 branches in 21 states, with certain businesses operating in extended geographies. Visit Huntington.com for more information.

Caution Regarding Forward-Looking Statements

This communication may contain certain forward-looking statements, including, but not limited to, certain plans, expectations, goals, projections, and statements which are not historical facts and are subject to numerous assumptions, risks, estimates, and uncertainties that are beyond the control of Huntington. Statements that do not describe historical or current facts, including statements about beliefs and expectations, are forward-looking statements. Forward-looking statements may be identified by words such as expect, anticipate, continue, believe, intend, estimate, plan, trend, objective, target, goal, or similar expressions, or future or conditional verbs such as will, may, might, should, would, could, or similar variations. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995.

While there is no assurance that any list of risks and uncertainties or risk factors is complete, below are certain factors which could cause actual results to differ materially from those contained or implied in the forward-looking statements or historical performance: changes in general economic, political, regulatory, or industry conditions; deterioration in business and economic conditions, including persistent inflation, supply chain issues or labor shortages; instability in global economic conditions and geopolitical conditions, including U.S. direct involvement in war and other conflicts, as well as volatility in financial markets; changes in U.S. trade policies, including the imposition of tariffs and retaliatory tariffs; the impact of pandemics and other catastrophic events or disasters on the global economy and financial market conditions and our business, results of operations, and financial condition; the impacts related to or resulting from bank failures and other volatility, including potential increased regulatory requirements and costs, such as Federal Deposit Insurance Corporation ("FDIC") special assessments, long-term debt requirements and heightened capital requirements; potential impacts to macroeconomic conditions, which could affect the ability of depository institutions, including us, to attract and retain depositors and to borrow or raise capital; unexpected outflows of deposits which may require us to sell investment securities at a loss; changing interest rates which could negatively impact the value of our portfolio of investment securities; the loss of value of our investment portfolio which could negatively impact market perceptions of us and could lead to deposit withdrawals; market perceptions of us and banks generally, including from the effects of social media; cybersecurity risks; uncertainty in U.S. fiscal and monetary policy, including the interest rate policies of the Board of Governors of the Federal Reserve System ("Federal Reserve"); volatility and disruptions in global capital, foreign exchange, and credit markets; movements in interest rates; competitive pressures on product pricing and services; success, impact, and timing of our business strategies, including market acceptance of any new products or services including those implementing our "Fair Play" banking philosophy; introduction of new competitive products, such as stablecoins, and new competitors, such as financial technology companies and other "nontraditional" bank competitors; changes in policies and standards for regulatory review of bank mergers; the nature, extent, timing, and results of governmental actions, examinations, reviews, reforms, regulations, and interpretations, including those related to the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Basel III regulatory capital reforms, as well as those involving the Securities and Exchange Commission ("SEC"), the Office of the Comptroller of the Currency, the Federal Reserve, the FDIC, the Consumer Financial Protection Bureau, and state-level regulators; the possibility that the anticipated benefits of recent or proposed acquisitions are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the companies or as a result of the strength of the economy and competitive factors in the areas where the companies do business; and other factors that may affect the future results of Huntington.

All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above. Forward-looking statements speak only as of the date they are made and are based on information available at that time. Huntington does not assume any obligation to update forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in circumstances or other factors affecting forward-looking statements that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws. If Huntington updates one or more forward-looking statements, no inference should be drawn that Huntington will make additional updates with respect to those or other forward-looking statements. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements. See also the other reports filed with the SEC, including discussions under the "Forward-Looking Statements" and "Risk Factors" of Huntington's Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC and available on its website at www.sec.gov.

 

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SOURCE Huntington Bancshares Incorporated

FAQ

What were Huntington (HBAN) Q1 2026 earnings and EPS?

Huntington reported $523 million net income and GAAP EPS of $0.25 for Q1 2026. According to the company, adjusted EPS excluding notable items was $0.37.

How did Huntington's loan and deposit balances change in Q1 2026?

Average total loans rose to $174.2 billion, a 19% increase quarter-over-quarter. According to the company, average deposits increased by 18% QoQ, reflecting Cadence and Veritex impacts.

What drove Huntington's revenue performance in Q1 2026 (HBAN)?

Net interest income increased 19% QoQ and noninterest income rose 17% QoQ. According to the company, commercial and consumer loan growth plus acquisitions contributed to revenue gains.

What is Huntington's capital and credit position after Q1 2026?

CET1 ratio was 10.2% and allowance for credit losses was $3.4 billion. According to the company, ACL rose mainly due to the Cadence acquisition and reserves remain elevated.

What shareholder actions did Huntington (HBAN) announce in April 2026?

The board approved a new $3 billion share repurchase authorization on April 22, 2026. According to the company, $150 million was repurchased in Q1 and $100 million additional quarter-to-date.