Huntington Bancshares Incorporated reports recurring developments as a regional bank holding company built around The Huntington National Bank and related affiliates. Company news covers consumer and commercial banking, payments, wealth management, risk management products, quarterly earnings communications, and cash dividends on common and preferred stock.
Updates also include commercial banking expansion in U.S. markets, consumer banking partnerships, and activity from Capstone Partners, Huntington's middle-market investment banking subsidiary. Capstone-related news commonly addresses M&A advisory, debt and equity placement, restructuring, special situations, valuation and fairness opinions, and sector reports on middle-market transaction activity.
Huntington Bancshares (Nasdaq: HBAN) will participate in the Goldman Sachs 2022 US Financial Services Conference on December 7, 2022. CEO Steve Steinour and CFO Zach Wasserman will present at 9:20 AM (ET), discussing the bank's business strategies and financial performance. Investors can access a live audio webcast on Huntington's investor relations website, with a replay available afterward. Huntington, headquartered in Columbus, Ohio, is a regional bank holding company with $179 billion in assets and over 1,000 branches across 11 states.
Capstone Partners has achieved its third 'Investment Bank of the Year' award for 2022, recognized as the 'Middle Market Investment Banking Firm of the Year' at The M&A Advisor's 21st Annual M&A Awards held on November 15, 2022. This follows earlier accolades from M&A Today and Global M&A Network. The firm is undergoing a growth strategy in partnership with Huntington Bancshares (HBAN), enhancing its capabilities in current markets while pursuing further expansion. Capstone aims to strengthen its position as a full-service corporate and investment bank.
Huntington Bancshares (Nasdaq: HBAN) has launched Advisor Connect, a new digital platform developed in collaboration with InvestCloud. This service simplifies the process for customers to connect with financial advisors tailored to their specific needs. Users answer a few questions to receive a personalized list of advisors, enhancing the customer experience. This initiative aligns with Huntington’s goal to be a people-first, digitally powered bank, integrating seamlessly into their existing online banking system.
Huntington Bancshares Incorporated (Nasdaq: HBAN) has raised its prime rate from 6.25 percent to 7 percent, effective November 3, 2022. This change follows a prior increase on September 22, 2022, when the rate was adjusted from 5.5 percent to 6.25 percent. Huntington is a $179 billion asset regional bank based in Columbus, Ohio, providing a variety of banking and financial services across 11 states.
Huntington National Bank (Nasdaq: HBAN) announced its partnership with LiquidX to enhance its trade finance infrastructure. This collaboration aims to automate back-office processes, streamline supply chain finance operations, and improve payment reconciliation. Key features of the LiquidX solution include centralized data management, advanced business intelligence tools, and AI-driven reconciliation. The agreement allows Huntington to scale its business efficiently and focus on strategic initiatives. This partnership underscores Huntington's commitment to providing improved services to its trade finance customers.
Huntington Bancshares Incorporated declared a $0.155 quarterly cash dividend on common stock (Nasdaq: HBAN), payable on January 3, 2023, to shareholders of record as of December 19, 2022. Additionally, the board announced cash dividends for five series of preferred stock, with amounts ranging from $11.25 to $1,425.00 per share, payable on January 17, 2023. Huntington, an asset regional bank holding company with $179 billion in assets, operates over 1,000 branches across 11 states.
Huntington Bancshares Incorporated reported a record net income of $594 million, or $0.39 per share for Q3 2022, marking a $217 million increase year-over-year. Total revenue rose 9% sequentially, with net interest income up $143 million, reflecting an expanded net interest margin of 3.42%. Average total loans and leases increased by $3.0 billion. The company also achieved a record Common Equity Tier 1 ratio of 9.27%. These results depict robust growth and a strong balance sheet, positioning HBAN for long-term performance.
Huntington Bancshares (Nasdaq: HBAN) has supported 5,675 small businesses by providing nearly $1 billion in the last year, maintaining its position as the largest SBA 7(a) loan originator in the U.S. for five consecutive years. The bank offers various loan services to aid small businesses, including the Lift Local Business program, which has funded over 500 minority, woman, and veteran-owned businesses. Huntington is committed to equitable capital access and has a $40 billion Community Plan aimed at tackling economic inequities.
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