Welcome to our dedicated page for Huntington Bancshares news (Ticker: HBAN), a resource for investors and traders seeking the latest updates and insights on Huntington Bancshares stock.
Huntington Bancshares Inc. (symbol: HBAN) is a prominent regional bank holding company headquartered in Columbus, Ohio. Founded in 1866, Huntington operates through a robust network of over 750 branches and more than 1,500 ATMs across six midwestern states. With assets exceeding $189 billion, Huntington provides a wide array of financial services to consumers, small businesses, and corporations.
The company's primary business segments include Consumer & Regional Banking and Commercial Banking. The Consumer & Business Banking segment is the primary revenue driver, while the Commercial Banking segment offers specialized services such as auto dealer financing, equipment finance, national settlement, and capital market services.
Huntington's product offerings are comprehensive, covering consumer banking, small business solutions, commercial banking, treasury management, wealth management, brokerage, trust, and insurance services. The company's affiliations extend beyond its core states, providing national settlement and capital market services.
2023 was a notable year for Huntington, marked by strategic initiatives and a dynamic banking environment. The company achieved sustained deposit growth, enhanced capabilities across payments and other fee-based services, and completed a business segment re-alignment to improve customer focus and operational efficiency. Furthermore, Huntington expanded its commercial and regional banking into the Carolinas, bolstering its specialty banking expertise by adding new teams.
In the fourth quarter of 2023, Huntington reported a net income of $243 million, reflecting the company's disciplined approach to managing credit quality and moderate-to-low risk appetite. Despite a decrease from the previous year, the company maintained robust liquidity and capital, positioning it for continued growth. Huntington's strategic focus remains on organic growth, expanding deposit and loan balances, and leveraging its strong brand and customer trust metrics.
As of the first quarter of 2024, Huntington reported a net income of $419 million, highlighting sustained organic growth and robust pipelines in new and existing markets. The company's credit quality remained stable, and the economic outlook was constructive, supporting the performance of its customers.
Huntington Bancshares' financial results and strategic initiatives underscore its commitment to growth, profitability, and customer service. The company's earnings releases and financial supplements provide detailed performance metrics and are available on its Investor Relations website.
For more information, visit Huntington.com.
Huntington Bancshares Incorporated (Nasdaq: HBAN) announced on October 20, 2020, the commencement of cash tender offers to purchase up to $200 million of its outstanding senior notes. The tender offers, outlined in an Offer to Purchase, are subject to certain conditions and will expire on November 16, 2020. Holders can receive an Early Tender Premium of $30 per $1,000 of notes if they tender by November 2, 2020. Funds for the purchase will come from available cash resources. Credit Suisse is the Dealer Manager for the tender offer.
Huntington (Nasdaq: HBAN) has been recognized as the largest originator of Small Business Administration (SBA) 7(a) loans for the third consecutive year, marking 12 years in this position. The bank processed over 38,000 Paycheck Protection Program loans in 2020, demonstrating its commitment to small businesses during challenging times. Additionally, Huntington announced a five-year, $20 billion Community Plan aimed at fostering economic opportunities and supporting businesses, including a $7.6 billion lending commitment. This strengthens Huntington's role in the community and small business sector.
Huntington Bancshares (Nasdaq: HBAN) will release its 2020 third quarter earnings on October 22, 2020, before market opening. Financial data will be available on its Investor Relations website. The management will hold an earnings conference call at 10:00 a.m. ET on the same day, accessible via a live Internet webcast and a dial-in number. Huntington, headquartered in Columbus, Ohio, holds approximately $118 billion in assets and operates 839 branches across seven Midwestern states.
Huntington has announced two new overdraft protection features: the 24-Hour Grace for Business and a No Overdraft Fee $50 Safety Zone. These initiatives aim to assist customers during the pandemic's economic challenges. The 24-Hour Grace allows customers to avoid overdraft fees if they deposit funds by the next business day. The $50 Safety Zone eliminates fees for overdrafts of $50 or less, up from a previous limit of $5. CEO Steve Steinour emphasizes that these changes reflect Huntington's commitment to customer financial well-being and follow a decade of its Fair Play Banking initiative.
Huntington Bancshares (HBAN) announced the launch of Money Scout, an innovative savings tool designed to help customers effortlessly set aside funds. By analyzing spending habits and income, Money Scout automatically transfers small amounts, ranging from $5 to $50, from checking to savings accounts. This initiative follows the bank's findings that finances are a significant stressor, compounded by the pandemic. Huntington also aims to enhance community financial stability through a $20 billion Community Plan over five years. The tool is integrated into the award-winning Huntington Mobile app and supports long-term financial health.
Huntington Bancshares will present at the Barclays Global Financial Services Conference on September 14, 2020, at 12:00 PM ET. Key executives, including Zach Wasserman, Chief Financial Officer, will discuss the company's business performance and strategic initiatives. Investors can access the live presentation via the investor relations section on Huntington's website, where a replay will also be archived. Huntington, headquartered in Columbus, Ohio, holds $118 billion in assets and operates 839 branches across seven Midwestern states.
Huntington Bancshares (Nasdaq: HBAN) and Michigan Governor Gretchen Whitmer announced a significant $5 billion commitment to enhance financial opportunities in Michigan over five years, as part of a larger $20 billion Community Plan. The initiative aims to support small businesses, particularly those owned by minorities, women, and veterans, along with promoting affordable housing and community lending. Specific programs will be announced soon. This investment underscores Huntington's dedication to socio-economic improvement in the state amidst challenges posed by the COVID-19 pandemic.
Huntington Bancshares has announced a $20 billion, five-year commitment aimed at enhancing financial opportunities across its seven-state Midwest footprint. This initiative, developed with community organizations, includes $7.6 billion for small businesses, focusing on minority, women, and veteran-owned businesses, and $7.5 billion for affordable housing and home ownership. An additional $4.9 billion will target community lending and investment. This plan reflects a $4 billion increase over its previous 2017 Community Development Plan, emphasizing Huntington's dedication to addressing racial and economic disparities.
FAQ
What is the current stock price of Huntington Bancshares (HBAN)?
What is the market cap of Huntington Bancshares (HBAN)?
What services does Huntington Bancshares Inc. offer?
Where is Huntington Bancshares Inc. headquartered?
How many branches and ATMs does Huntington operate?
What was Huntington's net income for the fourth quarter of 2023?
How did Huntington perform in the first quarter of 2024?
What are Huntington's primary business segments?
How long has Huntington Bancshares Inc. been in business?
What strategic initiatives did Huntington undertake in 2023?
Where can I find Huntington Bancshares' financial results?
How does Huntington manage its credit quality?
