AI English summary of an SEC filing — figures as filed

The company said its net income for Q2 2024 was $474 million, or $0.30 per common share, up $55 million from the prior quarter and down $85 million from the year-ago quarter.

8-KResults of Operations and Financial ConditionFiled Jul 19, 2024Period of report Jul 19, 2024Summary published (UTC) Oct 20, 2026

Key points

AI summary

The company said its net income for Q2 2024 was $474 million, or $0.30 per common share, up $55 million from the prior quarter and down $85 million from the year-ago quarter.
Huntington said its net interest income for Q2 rose $25 million (2%) from the prior quarter and fell $34 million (3%) from the year-ago quarter, and that its net interest margin was 2.99%.
The company said its net charge-offs as a percentage of average total loans and leases were 0.29% for Q2, and its allowance for credit losses (ACL) was $2.4 billion, or 1.95% of total loans and leases. Its nonperforming asset ratio was 0.63% at quarter end.
The company said it completed a Credit Linked Note (CLN) transaction of $478 million in Q2, related to a reference pool of prime indirect auto loans of about $4 billion, and that the transaction reduced risk-weighted assets by about $3.0 billion.

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 Q2 Net Income of $474 million, EPS of $0.30

The company said its net income for Q2 2024 was $474 million, or $0.30 per common share, up $55 million from the prior quarter and down $85 million from the year-ago quarter.

Source · Based on the filing body and exhibits

Net Interest Income Up $25 million, Net Interest Margin 2.99%

Huntington said its net interest income for Q2 rose $25 million (2%) from the prior quarter and fell $34 million (3%) from the year-ago quarter, and that its net interest margin was 2.99%.

Source · Based on the filing body and exhibits

Credit Metrics: Net Charge-offs 0.29%, ACL 1.95%

The company said its net charge-offs as a percentage of average total loans and leases were 0.29% for Q2, and its allowance for credit losses (ACL) was $2.4 billion, or 1.95% of total loans and leases. Its nonperforming asset ratio was 0.63% at quarter end.

Source · Based on the filing body and exhibits

CLN Transaction: Risk-Weighted Assets Down About $3.0 billion

The company said it completed a Credit Linked Note (CLN) transaction of $478 million in Q2, related to a reference pool of prime indirect auto loans of about $4 billion, and that the transaction reduced risk-weighted assets by about $3.0 billion.

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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