Huntington Bancshares Reports 22% Increase in Net Income for Q3 2025

Huntington Bancshares Incorporated reported a strong financial performance for the third quarter of 2025, with net income reaching $629 million, or $0.41 per diluted share, compared to $517 million, or $0.33 per diluted share, in the same period last year. This represents a 22% increase in net income year-over-year. The bank's net interest income also saw a significant rise, totaling $1.5 billion, an increase of $155 million, or 11%, from the previous year. The increase in net interest income was attributed to a 15 basis point rise in the net interest margin (NIM) to 3.13%, alongside a 6% increase in average earning assets.

In terms of operational metrics, Huntington's total assets grew to $210.2 billion, a 3% increase from $204.2 billion at the end of 2024. The bank's loan and lease portfolio expanded by $7.9 billion, or 6%, to $138 billion, driven by growth in both commercial and consumer loans. Total deposits increased by $2.8 billion, or 2%, to $165.2 billion, reflecting a rise in interest-bearing demand and money market deposits. The bank's allowance for credit losses (ACL) increased to $2.6 billion, or 1.86% of total loans and leases, up from $2.4 billion, primarily due to loan growth.

Strategically, Huntington completed its acquisition of Veritex Holdings, Inc. on October 20, 2025, merging it into Huntington with a total consideration of approximately $1.7 billion. This acquisition adds $12.8 billion in assets, including $9.6 billion in loans and $10.8 billion in deposits, to Huntington's balance sheet. Additionally, Huntington announced a definitive merger agreement with Cadence Bank on October 27, 2025, which is expected to close in the first quarter of 2026, further expanding its footprint in the regional banking sector.

The bank's noninterest income for the third quarter of 2025 was $628 million, a 20% increase from the previous year, driven by gains in payments and cash management revenue, capital markets and advisory fees, and a notable $24 million gain from the sale of a portion of its trust and custody business. However, noninterest expenses also rose to $1.2 billion, a 10% increase, primarily due to higher personnel costs and acquisition-related expenses. The bank's efficiency ratio improved to 57.4%, down from 59.4% in the prior year, indicating better cost management relative to revenue generation.

Looking ahead, Huntington remains optimistic about its growth trajectory, emphasizing its commitment to maintaining a strong balance sheet and disciplined risk management. The bank believes it is well-positioned to navigate potential economic challenges, including ongoing inflationary pressures and interest rate fluctuations, while continuing to deliver value to its shareholders.