The company said net income for Q1 2024 was $419 million, and diluted earnings per common share were $0.26. Net income rose $176 million from the prior quarter and fell $183 million from the year-ago quarter.

8-KFinancial Statements and ExhibitsFiled Apr 19, 2024Period of report Apr 19, 2024Summary published (UTC) Oct 30, 2026

Key points

AI summary

The company said net income for Q1 2024 was $419 million, and diluted earnings per common share were $0.26. Net income rose $176 million from the prior quarter and fell $183 million from the year-ago quarter.
Net interest income for Q1 2024 was $1,287 million, down 2% from the prior quarter and down 9% from the year-ago quarter, the company said. Its net interest margin (NIM) was 3.01%, compared with 3.40% a year earlier, a decline of 39 basis points.
The company said the FDIC updated its estimate of uninsured deposit losses for the 2023 FDIC bank failures, and that it recorded an additional FDIC-related expense of $32 million in Q1 2024. In Q4 2023, it recognized $214 million under the same special assessment.
The company said net charge-offs (NCOs) for Q1 2024 were 0.30% of average total loans and leases, and its allowance for credit losses (ACL) was $2.4 billion, or 1.97% of total loans and leases. The nonperforming asset ratio was 0.60%.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Huntington Reports Q1 2024 Net Income of $419 million, or $0.26 per Share

The company said net income for Q1 2024 was $419 million, and diluted earnings per common share were $0.26. Net income rose $176 million from the prior quarter and fell $183 million from the year-ago quarter.

Source · Based on the filing body and exhibits

Net Interest Income of $1,287 million, NIM of 3.01%

Net interest income for Q1 2024 was $1,287 million, down 2% from the prior quarter and down 9% from the year-ago quarter, the company said. Its net interest margin (NIM) was 3.01%, compared with 3.40% a year earlier, a decline of 39 basis points.

Source · Based on the filing body and exhibits

FDIC Special Assessment Impact of $32 million

The company said the FDIC updated its estimate of uninsured deposit losses for the 2023 FDIC bank failures, and that it recorded an additional FDIC-related expense of $32 million in Q1 2024. In Q4 2023, it recognized $214 million under the same special assessment.

Source · Based on the filing body and exhibits

Credit Metrics: NCOs at 0.30%, ACL at $2.4 billion

The company said net charge-offs (NCOs) for Q1 2024 were 0.30% of average total loans and leases, and its allowance for credit losses (ACL) was $2.4 billion, or 1.97% of total loans and leases. The nonperforming asset ratio was 0.60%.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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