Huntington Bancshares Incorporated Reports 2024 Fourth-Quarter Earnings
Huntington Bancshares (HBAN) reported strong Q4 2024 results with earnings per share of $0.34, up $0.01 from Q3 and $0.19 from the year-ago quarter. The bank achieved record fee income and significant loan growth, with net interest income increasing $44 million (3%) quarterly and $79 million (6%) yearly.
Key highlights include: average total loans increased $3.7 billion (3%) quarterly to $128.2 billion; average deposits grew $2.9 billion (2%) quarterly; noninterest income rose $36 million (7%) to $559 million quarterly. The bank maintained strong credit quality with net charge-offs at 0.30% and a nonperforming asset ratio of 0.63%. The Common Equity Tier 1 ratio improved to 10.5%, while tangible book value per share was $8.33.
Huntington Bancshares (HBAN) ha riportato risultati solidi per il quarto trimestre del 2024, con un utile per azione di $0.34, in aumento di $0.01 rispetto al terzo trimestre e $0.19 rispetto allo stesso trimestre dell'anno scorso. La banca ha raggiunto un reddito da commissioni record e una significativa crescita dei prestiti, con un aumento del reddito netto da interessi di $44 milioni (3%) su base trimestrale e $79 milioni (6%) su base annuale.
I punti salienti includono: i prestiti totali medi sono aumentati di $3.7 miliardi (3%) su base trimestrale, arrivando a $128.2 miliardi; i depositi medi sono cresciuti di $2.9 miliardi (2%) su base trimestrale; il reddito non da interessi è aumentato di $36 milioni (7%), raggiungendo i $559 milioni trimestrali. La banca ha mantenuto una forte qualità del credito con una percentuale di cancellazioni nette dello 0.30% e un rapporto di attività non performanti dello 0.63%. Il rapporto Common Equity Tier 1 è migliorato al 10.5%, mentre il valore contabile tangibile per azione era di $8.33.
Huntington Bancshares (HBAN) informó resultados sólidos para el cuarto trimestre de 2024, con ganancias por acción de $0.34, un aumento de $0.01 con respecto al tercer trimestre y $0.19 con respecto al mismo trimestre del año pasado. El banco logró un ingreso por comisiones récord y un crecimiento significativo en los préstamos, con un aumento en los ingresos netos por intereses de $44 millones (3%) trimestralmente y $79 millones (6%) anualmente.
Los aspectos clave incluyen: los préstamos totales promedio aumentaron $3.7 mil millones (3%) trimestralmente a $128.2 mil millones; los depósitos promedio crecieron $2.9 mil millones (2%) trimestralmente; los ingresos no por intereses aumentaron $36 millones (7%) a $559 millones trimestrales. El banco mantuvo una sólida calidad crediticia con cancelaciones netas del 0.30% y una relación de activos no rentables del 0.63%. La relación de Common Equity Tier 1 mejoró al 10.5%, mientras que el valor contable tangible por acción fue de $8.33.
헌팅턴 뱅크셰어스 (HBAN)는 2024년 4분기 강력한 실적을 보고하며, 주당 순이익이 $0.34로 3분기 대비 $0.01 증가하고 지난해 같은 분기 대비 $0.19 증가했습니다. 이 은행은 역대 최대의 수수료 수익과 상당한 대출 성장을 달성했으며, 순이자 수익은 분기별로 $4400만 (3%), 연간으로는 $7900만 (6%) 증가했습니다.
주요 내용으로는: 평균 총 대출이 분기별로 $37억 (3%) 증가하여 $1282억에 달했으며; 평균 예금이 분기별로 $29억 (2%) 증가했습니다; 비이자 수익은 분기별로 $3600만 (7%) 증가하여 $5590만에 도달했습니다. 이 은행은 순차감률이 0.30%이고 부실 자산 비율이 0.63%인 강력한 신용 품질을 유지하고 있습니다. 보통주자본비율(CT1)은 10.5%로 개선되었으며, 주당 tangible book value는 $8.33입니다.
Huntington Bancshares (HBAN) a annoncé de solides résultats pour le quatrième trimestre 2024, avec un bénéfice par action de 0,34 $, en hausse de 0,01 $ par rapport au troisième trimestre et de 0,19 $ par rapport au trimestre de l'année précédente. La banque a atteint un revenu de frais record et une croissance significative des prêts, avec un revenu net d'intérêts en hausse de 44 millions de dollars (3 %) trimestriellement et de 79 millions de dollars (6 %) annuellement.
Les points clés incluent : les prêts totaux moyens ont augmenté de 3,7 milliards de dollars (3 %) trimestriellement pour atteindre 128,2 milliards de dollars ; les dépôts moyens ont augmenté de 2,9 milliards de dollars (2 %) trimestriellement ; le revenu non lié aux intérêts a augmenté de 36 millions de dollars (7 %) pour atteindre 559 millions de dollars trimestriellement. La banque a maintenu une solide qualité de crédit avec des annulations nettes de 0,30 % et un ratio d'actifs non performants de 0,63 %. Le ratio Common Equity Tier 1 s'est amélioré à 10,5 %, tandis que la valeur comptable tangible par action était de 8,33 $.
Huntington Bancshares (HBAN) berichtete über starke Ergebnisse im 4. Quartal 2024 mit einem Gewinn pro Aktie von $0.34, was einem Anstieg von $0.01 im Vergleich zum 3. Quartal und $0.19 im Vergleich zum Vorjahresquartal entspricht. Die Bank erzielte Rekordgebühreneinnahmen und ein signifikantes Wachstum bei den Krediten, wobei die Nettozinseinnahmen um $44 Millionen (3%) im Quartalsvergleich und um $79 Millionen (6%) im Jahresvergleich stiegen.
Wesentliche Höhepunkte sind: Die durchschnittlichen Gesamtkredite stiegen um $3.7 Milliarden (3%) im Quartalsvergleich auf $128.2 Milliarden; die durchschnittlichen Einlagen wuchsen um $2.9 Milliarden (2%) im Quartalsvergleich; die nicht-zinslichen Einnahmen gingen um $36 Millionen (7%) auf $559 Millionen im Quartalsvergleich hoch. Die Bank hielt eine starke Kreditqualität aufrecht mit Nettoausfällen von 0.30% und einer Quote von notleidenden Vermögenswerten von 0.63%. Das Verhältnis der Common Equity Tier 1 nahm auf 10.5% zu, während der tangible Buchwert pro Aktie bei $8.33 lag.
- EPS increased to $0.34, up $0.19 from year-ago quarter
- Net interest income grew 6% year-over-year to $79 million
- Average total loans increased 6% year-over-year to $128.2 billion
- Average deposits grew 7% year-over-year to $9.8 billion
- Noninterest income rose 38% year-over-year to $559 million
- Common Equity Tier 1 ratio improved to 10.5%
- Securities sale resulted in $21 million pre-tax income reduction
- Tangible book value per share decreased $0.32 (4%) from prior quarter
- Adjusted Common Equity Tier 1 declined to 8.7% from 8.9% in prior quarter
- TCE ratio decreased to 6.1% from 6.4% in prior quarter
Insights
The Q4 2024 results demonstrate robust performance across key metrics. EPS of $0.34 shows sequential and year-over-year improvement, while net interest income grew 6% YoY to reach
Particularly noteworthy is the substantial growth in noninterest income, increasing
Credit quality remains solid with net charge-offs at
Huntington's strategic execution in Q4 2024 showcases a well-balanced growth approach. The record fee income achievement, particularly in payments, wealth management and capital markets, indicates successful diversification beyond traditional banking revenue streams. The
The bank's expansion into new geographies and commercial verticals is yielding tangible results, evidenced by the
The combination of core business strength and strategic investments positions Huntington favorably for sustained growth in 2025, though margin pressure and potential credit cycle shifts remain key monitoring points.
Q4 Results Highlighted by Record Fees and Loan Growth, Sustained Deposit Growth and Sequential Expansion of Net Interest Income
2024 Fourth-Quarter Highlights:
- Earnings per common share (EPS) for the quarter were
$0.34 $0.01 $0.19 $0.07 - The previously announced sale of approximately
$1 billion $21 million $0.01 - Net interest income increased
$44 million 3% , from the prior quarter, and increased$79 million 6% , from the year-ago quarter. - Total deposit costs were
2.16% , down 24 basis points from the prior quarter. - Noninterest income increased
$36 million 7% , from the prior quarter, to$559 million $154 million 38% . Excluding the impact of mark-to-market on pay-fixed swaptions, credit risk transfer transactions, and the loss on sales of securities, noninterest income increased by$49 million 9% , from the prior quarter and$96 million 20% , from the year-ago quarter. - Average total loans and leases increased
$3.7 billion 3% , from the prior quarter to$128.2 billion $6.9 billion 6% , from the year-ago quarter.- Average commercial loans grew
$2.7 billion 4% from the prior quarter and$4.3 billion 6% from the year-ago quarter. - Average consumer loans grew
$930 million 2% from the prior quarter and$2.7 billion 5% from the year-ago quarter.
- Average commercial loans grew
- Average total deposits increased
$2.9 billion 2% , from the prior quarter and$9.8 billion 7% , from the year-ago quarter. - Net charge-offs of
0.30% of average total loans and leases for the quarter. - Nonperforming asset ratio of
0.63% at quarter end. - Allowance for credit losses (ACL) of
$2.4 billion 1.88% of total loans and leases, at quarter end. - Common Equity Tier 1 (CET1) risk-based capital ratio was
10.5% , at December 31, 2024, up from10.4% in the prior quarter. - Adjusted Common Equity Tier 1, including the effect of AOCI, was
8.7% , down from8.9% in the prior quarter. - Tangible common equity (TCE) ratio of
6.1% , down from6.4% in the prior quarter and equal to a year ago. - Tangible book value per share of
$8.33 $0.32 4% , from the prior quarter and up$0.54 7% , from a year ago.
Return on average assets was
CEO Commentary:
"We delivered exceptional fourth quarter results highlighted by record fee income, accelerated loan growth, and sustained deposit gathering," said Steve Steinour, chairman, president, and CEO. "Our results reflect the success of our core businesses and investments in new geographies and commercial verticals. Our teams have executed very well, managing overall funding costs lower and increasing fee revenues from payments, wealth management, and capital markets. Additionally, our capital markets team delivered record revenue during the quarter."
"During 2024, we delivered peer-leading organic growth, across both loans and deposits, supported by the combination of existing and new businesses. Throughout the year, we leveraged our position of strength, with strong liquidity, capital and credit, and invested in building existing businesses while adding new ones. These strategic growth investments helped drive results in the fourth quarter and will grow revenues in future years. We delivered strong fee growth in our core, while adding capabilities, products, and services. We believe we have a multi-year opportunity to leverage our investments and momentum."
"Our credit continues to perform well, consistent with our aggregate moderate-to-low risk appetite. Our credit results for the quarter, including net charge-offs, reflect stability, supported by a positive economic environment."
"We expect the momentum from our core businesses and our strategic investments to carry us through 2025 and beyond, with a robust growth outlook and expanded profitability. "
The fourth quarter 2024 earnings materials, including the detailed earnings press release, quarterly financial supplement, and conference call slide presentation, are available on the Investor Relations section of Huntington's website, http://huntington.com/. In addition, the financial results will be furnished on a Form 8-K that will be available on the Securities and Exchange Commission website at www.sec.gov.
Conference Call / Webcast Information
Huntington's senior management will host an earnings conference call on January 17, 2025, 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 #13750835. 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 January 25, 2025 at (877) 660-6853 or (201) 612-7415; conference ID #13750835.
Please see the 2024 Fourth 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
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SOURCE Huntington Bancshares Incorporated
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