Huntington Bancshares Incorporated has reported its first-quarter earnings for 2025, showcasing exceptional results driven by growth in loans and deposits, expanded net interest income, and strong performance in fee revenue. Let's delve into the specific figures and changes from the previous quarter and the year-ago quarter.
Earnings per common share (EPS) for the quarter were reported at $0.34, unchanged from the prior quarter, and $0.08 higher than the year-ago quarter. Excluding the after-tax impact of notable items, EPS was higher by $0.06 from the year-ago quarter.
Net interest income increased by $31 million, or 2%, from the prior quarter and $139 million, or 11%, from the year-ago quarter. Total deposit costs were 2.03%, down 13 basis points from the prior quarter.
Noninterest income decreased by $65 million, or 12%, from the prior quarter but increased by $27 million, or 6%, from the year-ago quarter.
Average total loans and leases increased by $2.7 billion, or 2%, from the prior quarter to $130.9 billion and increased by $8.9 billion, or 7%, from the year-ago quarter.
Average total deposits increased by $2.2 billion, or 1%, from the prior quarter and $10.9 billion, or 7%, from the year-ago quarter.
Net charge-offs of 0.26% of average total loans and leases for the quarter were reported, which is 4 basis points lower than the prior quarter.
Nonperforming asset ratio at quarter end was 0.61%, 2 basis points lower than the prior quarter.
The allowance for credit losses (ACL) stood at $2.5 billion, or 1.87% of total loans and leases, at quarter end, reflecting an increase of $32 million from the prior quarter.
The tangible common equity (TCE) ratio was reported at 6.3%, up from 6.1% in the prior quarter and 6.0% from a year ago.
Tangible book value per share was $8.80, up $0.47, or 6%, from the prior quarter and up $1.03, or 13%, from a year ago.
The board of directors approved a $1 billion share repurchase authorization.
Looking at the financial performance, net income attributable to Huntington for the first quarter of 2025 was $527 million, representing a decrease of $3 million from the prior quarter, and an increase of $108 million, or 26%, from the year-ago quarter.
Return on average assets was 1.04%, return on average common equity was 11.3%, and return on average tangible common equity (ROTCE) was 16.7%.
Following these announcements, the company's shares moved 2.9%, and are now trading at a price of $13.65. For the full picture, make sure to review Huntington Bancshares's 8-K report.
